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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.

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Comments (2)
  • richardalanbur
    , contributor
    Comment (1) | Send Message
     
    a neophyte asks "what is going on?'..........
    23 Oct 2012, 03:19 AM Reply Like
  • MJ Murphy
    , contributor
    Comments (6) | Send Message
     
    JCI is "biting the bullet" and taking the hit this year for the restructuring costs and the downside related to the pension accounting. Good to get it behind them.
    23 Oct 2012, 05:21 PM Reply Like
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