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Monday, Oct 22
2012, 6:50 PM
Johnson Controls (JCI) outlines a series of charges relating to restructuring and accounting...
Johnson Controls (JCI) outlines a series of charges relating to restructuring and accounting changes, becoming the latest U.S. company to adopt a mark-to-market accounting for pension and retirement costs. The restructuring will result in an estimated pre-tax charge of $225M to $275M in Q412. The charge is comprised of employee-related costs of approximately $180M to $210M, asset impairment charges of $30M to $45M, plus other miscellaneous costs around $15M to $20M.