8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 24, 2005

JOHNSON CONTROLS, INC.

(Exact name of registrant as specified in its charter)

Wisconsin	1-5097	39-0380010
(State or other jurisdiction of	(Commission File Number)	(IRS Employer Identification No.)
incorporation)

5757 N. Green Bay Avenue, P.O. Box 591
Milwaukee, Wisconsin 53201-0591

(Address of principal executive offices, including zip code)

(414) 524-1200

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Press Release

Slide Presentation

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On October 24, 2005, Johnson Controls, Inc. issued a press release containing information about the Company’s results of operations for the three months and year ended September 30, 2005. A copy of this press release is incorporated herein by reference as Exhibit 99.1.

ITEM 7.01 REGULATION FD DISCLOSURE

Attached and incorporated herein by reference as Exhibit 99.1 is a copy of the press release dated October 24, 2005 reporting the results of operations for the three months and year ended September 30, 2005 issued by the registrant on October 24, 2005.

Attached and incorporated herein by reference as Exhibit 99.2 is a copy of the slide presentation for the fourth quarter 2005 analyst conference call issued by the registrant on October 24, 2005.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(c) Exhibits:

99.1	Press release issued by the registrant on October 24, 2005.
99.2	Slide presentation for the fourth quarter 2005 conference call issued by the registrant on October 24, 2005.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

JOHNSON CONTROLS, INC.
BY:	/s/ R. Bruce McDonald
R. Bruce McDonald
Vice President and Chief Financial Officer

Date: October 26, 2005

3

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Press release issued by the registrant on October 24, 2005.
99.2	Slide presentation for the fourth quarter 2005 conference call issued by the registrant on October 24, 2005.

4

EX-99.1

Exhibit 99.1

CONTACT:	Glen Ponczak — Investors	RELEASE: October 24, 2005
	(414) 524-2375
	Monica Levy — Media
	(414) 524-2695

JOHNSON CONTROLS REPORTS RECORD SALES, EARNINGS FOR FOURTH QUARTER

     MILWAUKEE, WISCONSIN, October 24, 2005 ... Johnson Controls, Inc. (JCI) today reported that its fourth quarter 2005 earnings from continuing operations rose 15% on a sales increase of 7%.

     John M. Barth, Chairman and Chief Executive Officer, said “We are pleased to report record quarterly and full-year results, continuing our track record for growth. In 2005 we broadened our capabilities, expanded our addressable markets and strengthened the foundation for improved profitability. Our company enters 2006 as the global leader in each of our businesses and with a strong financial position. We appreciate the efforts of our employees and their commitment to increase the value we deliver to our customers and our shareholders.”

     Johnson Controls sales for the 2005 fourth quarter totaled $6.9 billion, up 7% from $6.4 billion last year. Operating income was $436 million, up 14% from $384 million last year. Income from continuing operations totaled $293 million, up 15% from $255 million in the 2004 period. Diluted earnings per share from continuing operations for the 2005 fourth quarter were $1.50 versus $1.31 in the prior year.

     During the fourth quarter, the company recorded an $8.7 million adjustment, net of tax, reducing the gain on sale of discontinued operations in the second quarter of 2005. Including this one-time reduction, diluted earnings per share were $1.45, up from $1.41.

     Interior experience sales were $4.5 billion, up 4% from the $4.4 billion in the prior year. The increase was associated with the launch of new business which was partially offset by the deconsolidation of a North American joint venture during the third quarter of 2005. Excluding the deconsolidation, sales for the fourth quarter would have increased 9%. Industry light vehicle production in North America is estimated to have been approximately 3% higher than the prior year amount while European production is estimated to have been 2-3% lower. Operating income declined 13%, to $206 million versus $238 million for the 2004 fourth quarter, primarily due to higher commodity costs which more than offset the benefit of operational improvements.

     Power solutions sales increased 37% to $864 million from $632 million last year as a result of organic growth in North America and Europe, the impact of the Delphi battery acquisition and the consolidation of a Latin American joint venture in late 2004. Operating income rose 79% to $114

-more-

October 24, 2005

Page 2

million from $64 million, reflecting the higher volume, favorable product mix, improved quality and operational efficiencies.

     Building efficiency sales increased 5% to $1.5 billion for the fourth quarter from $1.4 billion in 2004, primarily due to higher North American systems and services activity for both new construction and existing buildings. Operating income was $115 million, 40% above the 2004 amount of $83 million, reflecting growth of higher-margin service business and the timing of benefits associated with efficiency and cost improvement initiatives in the North American branch office network. The backlog of uncompleted contracts at the end of 2005 was 5% higher than one year ago.

Financial Position

     Capital expenditures for the 2005 fiscal year decreased to $675 million, in line with earlier guidance. At September 30, 2005, the company’s total debt to total capitalization declined to 28% from 34% at the prior year-end, despite funding acquisitions and the company’s voluntary $180 million contribution to its U.S. pension plans in July.

Fiscal 2006 Guidance

     On October 11, 2005, Johnson Controls issued guidance on its expected performance for 2006. Fiscal 2006 sales are anticipated to increase approximately 15%, to $32 billion. Earnings per share from continuing operations are estimated to increase 13 to 17%, to a range of $5.00 to $5.15. For the first quarter of 2006, Johnson Controls said it anticipates sales of $6.8 billion and earnings per share from continuing operations of $0.82 to $0.85.

     The company said it expects that its previously announced acquisition of York International will be completed in December 2005.

###

Johnson Controls is a global leader in interior experience, building efficiency and power solutions. The company provides innovative automotive interiors that help make driving more comfortable, safe and enjoyable. For buildings, it offers products and services that optimize energy use and improve comfort and security. Johnson Controls also provides batteries for automobiles and hybrid electric vehicles, along with systems engineering and service expertise. Johnson Controls (NYSE: JCI), founded in 1885, is headquartered in Milwaukee, Wisconsin. For additional information, please visit www.johnsoncontrols.com.

###

Johnson Controls has made forward-looking statements in this document pertaining to its financial results for 2006 that are based on preliminary data and are subject to risks and uncertainties. Forward-looking statements include information concerning possible or assumed future risks and may include words such as “believes,” “forecasts,” “expects,” “outlook” or similar expressions. For those statements, the company cautions that numerous important factors, such as completion of the acquisition of York International in December 2005, automotive vehicle production levels and schedules, the ability to increase prices due to higher raw material costs, the strength of the U.S. or other economies, currency exchange rates, the company’s effective tax rate, cancellation of commercial contracts, as well as those factors discussed in the company’s Form 8-K (dated October 7, 2005) could affect the company’s actual results and could cause its actual consolidated results to differ materially from those expressed in any forward-looking statement made by, or on behalf of, the company.

October 24, 2005

Page 3

JOHNSON CONTROLS, INC.

CONSOLIDATED STATEMENT OF INCOME
(in millions, except per share data; unaudited)

	(GAAP)						(NON-GAAP)
	Three Months						Three Months
	Ended September 30,						Ended September 30,
	2005			2004			2005			2004
Net sales
Products and systems*	$	6,112.3		$	5,680.4		$	6,112.3		$	5,680.4
Services*		787.8			758.6			787.8			758.6
		6,900.1			6,439.0			6,900.1			6,439.0
Cost of sales
Products and systems		5,332.0			4,958.9			5,332.0			4,958.9
Services		619.3			617.0			619.3			617.0
		5,951.3			5,575.9			5,951.3			5,575.9
Gross profit		948.8			863.1			948.8			863.1
Selling, general and administrative expenses		512.7			479.2			512.7			479.2
Restructuring costs		—			—			—			—
Japanese pension gain		—			—			—			—
Operating income		436.1			383.9			436.1			383.9
Interest income		1.3			5.0			1.3			5.0
Interest expense		(32.2	)		(32.9	)		(32.2	)		(32.9	)
Equity income		12.6			18.5			12.6			18.5
Miscellaneous — net		(2.7	)		(11.3	)		(2.7	)		(11.3	)
Other income (expense)		(21.0	)		(20.7	)		(21.0	)		(20.7	)
Income from continuing operations before income taxes and minority interests		415.1			363.2			415.1			363.2
Income tax provision		110.2			84.2			110.2			103.0
Minority interests in net earnings of subsidiaries		12.4			24.5			12.4			24.5
Income from continuing operations		292.5			254.5			292.5			235.7
Income from discontinued operations, net of income taxes		—			18.5			—			18.5
Gain on sale of discontinued operations, net of income taxes		(8.7	)		—			—			—
Net income	$	283.8		$	273.0		$	292.5		$	254.2
Earnings available for common shareholders	$	283.8		$	273.0		$	292.5		$	254.2
Earnings per share from continuing operations
Basic	$	1.52		$	1.34		$	1.52		$	1.24
Diluted	$	1.50		$	1.31		$	1.50		$	1.22
Earnings per share
Basic	$	1.47		$	1.43		$	1.52		$	1.34
Diluted	$	1.45		$	1.41		$	1.50		$	1.32

* Products and systems consist of interior experience and power solutions products and systems and building efficiency installed systems. Services are building efficiency technical and facility management services.

The accompanying notes are an integral part of the financial statements.

October 24, 2005

Page 4

JOHNSON CONTROLS, INC.

CONSOLIDATED STATEMENT OF INCOME
(in millions, except per share data; unaudited)

	(GAAP)						(NON-GAAP)
	Year Ended						Year Ended
	Ended September 30,						Ended September 30,
	2005			2004			2005			2004
Net sales
Products and systems*	$	24,741.1		$	22,413.8		$	24,741.1		$	22,413.8
Services*		3,142.1			2,949.6			3,142.1			2,949.6
		27,883.2			25,363.4			27,883.2			25,363.4
Cost of sales
Products and systems		21,818.2			19,559.3			21,818.2			19,559.3
Services		2,533.8			2,414.0			2,533.8			2,414.0
		24,352.0			21,973.3			24,352.0			21,973.3
Gross profit		3,531.2			3,390.1			3,531.2			3,390.1
Selling, general and administrative expenses		2,218.8			2,173.0			2,218.8			2,173.0
Restructuring costs		210.0			82.4			—			—
Japanese pension gain		—			(84.4	)		—			—
Operating income		1,102.4			1,219.1			1,312.4			1,217.1
Interest income		13.7			14.0			13.7			14.0
Interest expense		(121.1	)		(110.8	)		(121.1	)		(110.8	)
Equity income		60.4			71.0			60.4			71.0
Miscellaneous — net		(26.7	)		(63.4	)		(26.7	)		(63.4	)
Other income (expense)		(73.7	)		(89.2	)		(73.7	)		(89.2	)
Income from continuing operations before income taxes and minority interests		1,028.7			1,129.9			1,238.7			1,127.9
Income tax provision		218.6			285.1			325.9			320.7
Minority interests in net earnings of subsidiaries		52.9			78.0			56.3			78.0
Income from continuing operations		757.2			766.8			856.5			729.2
Income from discontinued operations, net of income taxes		16.1			50.7			16.1			50.7
Gain on sale of discontinued operations, net of income taxes		136.1			—			—			—
Net income	$	909.4		$	817.5		$	872.6		$	779.9
Earnings available for common shareholders	$	909.4		$	815.7		$	872.6		$	778.1
Earnings per share from continuing operations
Basic	$	3.95		$	4.08		$	4.47		$	3.87
Diluted	$	3.90		$	3.98		$	4.41		$	3.79
Earnings per share
Basic	$	4.74		$	4.35		$	4.55		$	4.15
Diluted	$	4.68		$	4.24		$	4.49		$	4.05

* Products and systems consist of interior experience and power solutions products and systems and building efficiency installed systems. Services are building efficiency technical and facility management services.

The accompanying notes are an integral part of the financial statements.

October 24, 2005

Page 5

JOHNSON CONTROLS, INC.

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(in millions; unaudited)

	September 30,		September 30,
	2005		2004
ASSETS
Cash and cash equivalents	$	170.9	$	169.5
Accounts receivable — net		4,672.2		3,992.1
Costs and earnings in excess of billings on uncompleted contracts		314.5		271.8
Inventories		983.1		885.8
Assets of discontinued operations		—		579.8
Other current assets		997.6		774.5
Current assets		7,138.3		6,673.5
Property, plant and equipment — net		3,581.6		3,463.5
Goodwill — net		3,732.6		3,578.7
Other intangible assets — net		284.2		291.0
Investments in partially-owned affiliates		445.4		314.9
Other noncurrent assets		957.4		769.2
Total assets	$	16,139.5	$	15,090.8
LIABILITIES AND EQUITY
Short-term debt	$	684.0	$	813.3
Current portion of long-term debt		80.9		226.8
Accounts payable		3,937.5		3,608.4
Accrued compensation and benefits		704.4		606.2
Accrued income taxes		44.3		47.1
Billings in excess of costs and earnings on uncompleted contracts		225.7		197.2
Liabilities of discontinued operations		—		228.5
Other current liabilities		1,164.6		875.6
Current liabilities		6,841.4		6,603.1
Long-term debt		1,577.5		1,630.6
Postretirement health and other benefits		158.7		164.1
Minority interests in equity of subsidiaries		195.6		267.2
Other noncurrent liabilities		1,305.3		1,219.5
Shareholders’ equity		6,061.0		5,206.3
Total liabilities and equity	$	16,139.5	$	15,090.8

The accompanying notes are an integral part of the financial statements.

October 24, 2005

Page 6

JOHNSON CONTROLS, INC.

CONSOLIDATED STATEMENT OF CASH FLOWS
(in millions; unaudited)

	Three Months						Year Ended
	Ended September 30,						Ended September 30,
	2005			2004			2005			2004
Operating Activities
Net Income	$	283.8		$	273.0		$	909.4		$	817.5
Gain and earnings from discontinued operations		8.7			(18.5	)		(152.2	)		(50.7	)
Income from continuing operations		292.5			254.5			757.2			766.8
Adjustments to reconcile income from continuing operations to cash provided by operating activities
Depreciation		160.5			151.4			625.3			572.5
Amortization of intangibles		6.1			5.1			23.1			19.0
Equity in earnings of partially-owned affiliates, net of dividends received		(3.5	)		(17.2	)		(43.2	)		(8.3	)
Minority interests in net earnings of subsidiaries		12.4			24.5			52.9			78.0
Deferred income taxes		(4.1	)		32.0			(11.2	)		100.4
Japanese pension settlement gain		—			—			—			(84.4	)
Non cash restructuring costs		1.7			—			47.5			6.6
Pension contributions in excess of expense		(143.3	)		—			(143.3	)		—
Other		5.4			(21.0	)		27.1			(21.5	)
Changes in working capital, excluding acquisition and divestitures of businesses
Receivables		(401.4	)		(191.7	)		(755.8	)		(384.3	)
Inventories		(0.2	)		17.4			(62.3	)		(8.8	)
Other current assets		(11.9	)		(6.0	)		(91.1	)		28.0
Restructuring reserves		(32.8	)		(16.2	)		101.9			35.0
Accounts payable and accrued liabilities		215.9			234.9			352.4			274.9
Accrued income taxes		99.7			(18.9	)		81.3			13.7
Billings in excess of costs and earnings on uncompleted contracts		0.6			(7.5	)		27.7			(3.0	)
Cash provided by operating activities		197.6			441.3			989.5			1,384.6
Investing Activities
Capital expenditures		(278.6	)		(234.6	)		(674.9	)		(829.1	)
Sale of property, plant and equipment		28.5			28.5			39.2			50.9
Acquisition of businesses, net of cash acquired		(196.9	)		(383.0	)		(302.7	)		(419.6	)
Business divestitures		(10.3	)		—			676.9			—
Recoverable customer engineering expenditures		(8.9	)		(11.3	)		(9.8	)		(55.0	)
Changes in long-term investments		(4.6	)		(4.1	)		(120.4	)		(25.8	)
Cash used by investing activities		(470.8	)		(604.5	)		(391.7	)		(1,278.6	)
Financing Activities
Increase (decrease) in short-term debt — net		353.1			394.9			(117.7	)		659.9
Increase in long-term debt		66.7			9.9			82.8			213.7
Repayment of long-term debt		(266.4	)		(191.9	)		(373.7	)		(869.9	)
Payment of cash dividends		(48.9	)		(42.8	)		(192.7	)		(170.7	)
Other — net		20.1			(6.6	)		70.6			22.5
Cash provided (used) by financing activities		124.6			163.5			(530.7	)		(144.5	)
Cash (used) provided by discontinued operations		(12.0	)		48.4			(65.7	)		71.9
(Decrease) increase in cash and cash equivalents	$	(160.6	)	$	48.7		$	1.4		$	33.4

Certain prior period amounts have been reclassified to conform to the current period’s presentation.

The accompanying notes are an integral part of the financial statements.

October 24, 2005

Page 7

FOOTNOTES

1. Earnings Per Share

Basic earnings per share (EPS) are computed by dividing net income, after deducting dividend requirements on the Series D Convertible Preferred Stock, by the weighted average number of common shares outstanding. Diluted earnings are computed by deducting from net income the after-tax compensation expense which would arise from the assumed conversion of the Series D Convertible Preferred Stock, which was $0 and $0.1 million for the twelve months ended September 30, 2005 and 2004, respectively. Effective December 31, 2003, the Company converted all the outstanding Series D Convertible Preferred Stock and accordingly there was no after-tax compensation expense for the three or twelve months ended September 30, 2005. Diluted weighted average shares assume the conversion of the Series D Convertible Preferred Stock, if dilutive, plus the dilutive effect of common stock equivalents which would arise from the exercise of stock options.

	Three Months				Year Ended
	Ended September 30,				September 30,
	(unaudited)				(unaudited)
(in millions)	2005		2004		2005		2004
Weighted Average Shares
Basic		192.6		190.3		191.8		187.7
Diluted		195.0		193.0		194.3		192.6
Outstanding at period end						192.9		190.3

2. Business Highlights

	Three Months							Year Ended
	Ended September 30,							September 30,
	(unaudited)							(unaudited)
(in millions)	2005		2004		%			2005			2004			%
Sales
Building efficiency	$	1,501.3	$	1,431.0		5	%	$	5,717.7		$	5,323.7			7	%
Interior experience — North America		2,100.8		2,199.5		-4	%		8,902.4			8,997.8			-1	%
Interior experience — Europe		2,076.4		1,874.5		11	%		8,935.5			7,677.6			16	%
Interior experience — Asia		358.1		302.4		18	%		1,399.1			1,092.6			28	%
Power solutions		863.5		631.6		37	%		2,928.5			2,271.7			29	%
Total	$	6,900.1	$	6,439.0				$	27,883.2		$	25,363.4
Operating Income
Building efficiency	$	115.4	$	82.5		40	%	$	295.1		$	242.1			22	%
Interior experience — North America		107.6		152.2		-29	%		384.0			585.6			-34	%
Interior experience — Europe		87.4		66.8		31	%		253.3			114.2			122	%
Interior experience — Asia		11.3		18.5		-39	%		30.2			37.8			-20	%
Power solutions		114.4		63.9		79	%		349.8			237.4			47	%
Total	$	436.1	$	383.9				$	1,312.4		$	1,217.1
Restructuring costs		—		—					(210.0	)		(82.4	)
Japanese pension gain		—		—					—			84.4
Consolidated Operating Income	$	436.1	$	383.9				$	1,102.4		$	1,219.1

Building efficiency - Provides facility systems and services including comfort, energy and security management for the non-residential buildings market.

Interior experience — Designs and manufactures interior systems and products for passenger cars and light trucks, including vans, pick-up trucks and sport/crossover utility vehicles.

Power solutions - Designs and manufactures batteries for the replacement and original equipment markets.

3. Discontinued Operations

In February 2005, the Company completed the sale of its engine electronics business, included in interior experience — Europe segment, to Valeo for approximately 316 million Euros, or about $419 million. This non-core business was acquired in fiscal 2002 from Sagem SA. As part of the post-closing activities, the Company settled a claim with Valeo for approximately $8 million ($5 million after tax), resulting in an adjustment to the purchase price. The sale of the engine electronics business resulted in a gain of approximately $81 million ($51 million after tax), net of related costs.

October 24, 2005

Page 8

In March 2005, the Company completed the sale of its Johnson Controls World Services, Inc. subsidiary (World Services), included in the building efficiency segment, to IAP Worldwide Services, Inc. for approximately $260 million. This non-strategic business was acquired in fiscal 1989 from Pan Am Corporation. As part of the post-closing activities, the Company has provided approximately $4 million ($3 million after tax) for certain contingencies related to the sale. The sale of World Services resulted in a gain of approximately $139 million ($85 million after tax), net of related costs.

Both the engine electronics business and World Services are reported as discontinued operations in the Consolidated Financial Statements in accordance with SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets.”

4. Restructuring Costs

In the second quarter of 2005, the Company recorded a restructuring charge of $210 million involving cost structure reduction actions, primarily relating to severance costs and facility consolidations. The majority of the actions are concentrated on the interior experience operations in Europe as the Company focuses on further improving profitability in the region.

5. Non GAAP Reconciliations

The following tables reconcile the Company’s Non-GAAP amounts included in the press release to the most directly comparable GAAP amounts:

	Year Ended September 30,
	(unaudited)
(in millions)	2005			2004			% Inc
Non-GAAP operating income	$	1,312		$	1,217			8	%
Japanese pension gain		—			84
Restructuring costs		(210	)		(82	)
GAAP operating income	$	1,102		$	1,219

									Three Months
	Year Ended September 30,								Ended September 30,
	(unaudited)								(unaudited)
(in millions)	2005			2004			% Inc		2005		2004
Non-GAAP income from continuing operations	$	857		$	729			17%	$	293	$	236
Japanese pension gain		—			60					—		—
Restructuring costs		(180	)		(58	)				—		—
One-time tax credits		80			36					—		19
GAAP income from continuing operations	$	757		$	767				$	293	$	255

	Year Ended						Three Months
	September 30,						Ended September 30,
	(unaudited)						(unaudited)
(in millions)	2005			2004			2005		2004
Non-GAAP diluted EPS from continuing operations	$	4.41	*	$	3.79		$	1.50	$	1.22
Japanese pension gain		—			0.31			—		—
Restructuring costs		(0.92	)		(0.30	)		—		—
One-time tax credits		0.40			0.18			—		0.09
GAAP diluted EPS from continuing operations	$	3.90	*	$	3.98		$	1.50	$	1.31

	Full Year Earnings Per Share Guidance							Earnings Per Share Guidance
	(unaudited)							(unaudited)
								First Quarter
	2006							2006		First Quarter
	(estimate)		2005			% Inc		(estimate)		2005
Non-GAAP EPS from continuing operations	$	5.00 to $5.15	$	4.41	*		13-17%	$	0.82 to $0.85	$	0.75
Restructuring costs		—		(0.92	)				—		—
One-time tax credits		—		0.40					—		0.06
GAAP EPS from continuing operations	$	5.00 to $5.15	$	3.90	*			$	0.82 to $0.85	$	0.81

* Due to the use of weighted-average shares outstanding for the fiscal year in computing earnings per share, the sum of the quarterly components may not equal the per share amounts listed for the fiscal year.

EX-99.2

4th Quarter 2005 Conference Call October 24, 2005 Johnson Controls has made forward-looking statements in this document pertaining to its financial results for 2006 that are based on preliminary data and are subject to risks and uncertainties. Forward-looking statements include information concerning possible or assumed future risks and may include words such as "believes," "forecasts," "expects," "outlook" or similar expressions. For those statements, the company cautions that numerous important factors, such as completion of the acquisition of York International in December 2005, automotive vehicle production levels and schedules, the ability to increase prices due to higher raw material costs, the strength of the U.S. or other economies, currency exchange rates, the company's effective tax rate, cancellation of commercial contracts, as well as those factors discussed in the company's Form 8-K (dated October 7, 2005) could affect the company's actual results and could cause its actual consolidated results to differ materially from those expressed in any forward-looking statement made by, or on behalf of, the company. Exhibit 99.2

Overview John Barth - Chairman and CEO Q4 Business Results Denise Zutz - Vice President, Strategy, Investor Relations and Communication Financial Review Bruce McDonald - Vice President and Chief Financial Officer Q&A Agenda

Record 2005 Results Pleased to have achieved another record year Sales up 10% to $27.9 billion Operating income up 8%* (up 12% excluding deconsolidation) Income from continuing operations up 17% to $857 million, or $4.41 per share* Continued focus on innovation and operational excellence Introduce new products/systems to differentiate vehicle interiors Improve building efficiency cost structure Help battery customers increase their market share Utilizing our strong cash flow to make strategic acquisitions Broaden capabilities Enlarge market opportunities Increase competitiveness Thanks to our employees for their dedication and support *Non-GAAP. See appendix for GAAP reconciliation

2005 Performance Versus Guidance 2005 Results Sales +8 to 10% Op. income +10 to 12% After-tax earnings up more than operating income 10% Oct. 2004 Guidance 8%* 17%* Increased sales by all three businesses +12% excluding deconsolidation Margin improvements in Buildings and Power Commodity pressure reduced Interiors margin Tax planning initiatives *Non-GAAP. See appendix for GAAP reconciliation

2006 Outlook - October 11, 2005 Johnson Controls will continue to perform like a growth company Consolidated net sales Approx. $32B (up approx.15%) EPS from continuing operations $5.00 - $5.15 (up 13 - 17%) Sales - 60th consecutive years of increases Earnings - 16th consecutive years of increases

Fourth-Quarter 2005 Overview Record sales and earnings Sales growth of 7% to $6.9 billion 11% excluding deconsolidation; negligible FX impact Operating income up 14% Significant increases in building efficiency and power solutions businesses Diluted earnings per share from continuing operations up 15% $1.50 versus $1.31

Higher revenues in Europe (11%), Asia (18%) North America down 4% due to deconsolidation, otherwise up 5% Industry production: North America up 3%; Europe down 2-3% Sales Substantial improvement in Europe offset by lower income, margin in North America, Asia Europe increase due to continued operational improvements North America negatively impacted by higher commodity costs, deconsolidation Higher launch costs in Japan Operating Income 2005 2004 Change Sales $4,535 $4,376 +4% Op. Inc. $206 $238 -13% Fourth Quarter 2005 Interior Experience (in millions) (+9% excluding deconsolidation)

Fourth Quarter 2005 Power Solutions 2005 2004 Change Sales $864 $632 +37% Op. Inc. $114 $64 +79% (in millions) Higher organic unit shipments Latin American JV consolidation (Aug. 1, 2004) Delphi battery acquisition (July 1, 2005) Lead pass-throughs Sales Higher volume Product mix Improved quality/operational efficiencies Non-recurring benefits Operating Income

Fourth Quarter 2005 Building Efficiency 2005 2004 Change Sales $1,501 $1,431 +5% Op. Inc. $115 $83 +40% (in millions) Sales Operating Income Strong growth in North America Systems up 15% Technical services up 24% ROW approximately level North America substantially higher Systems cost improvement initiatives and service growth Increased facility management profitability Backlog $1.9 billion, up 5% versus prior year's $1.8 billion (at September 30) Orders up double-digit, driven by 25% increase in North America Backlog/Orders

Fourth Quarter 2005 Financial Highlights (in millions) Gross margin increase: restructuring benefits offset commodity cost pressure SG&A increase reflects higher engineering expense Operating margin expansion achieved despite material economics Excluding Deconsolidation

Fourth Quarter 2005 Financial Highlights (in millions) Equity income: Reflects deconsolidation of automotive joint venture; China/Europe/Japan lower Miscellaneous - net: Foreign currency losses in prior year Tax rate: One-time $19m tax credit in 2004 Minority interests: Reflects deconsolidation of automotive joint venture 2004 excludes $0.09 tax credit 2005 includes reduction in gain * *Non-GAAP. See appendix for GAAP reconciliation

2005 Balance Sheet / Cash Flow Highlights Debt-to-capitalization of 28% at September 30th Leverage ratio level down from 34% at fiscal year-end Debt-to-capital ratio improved despite acquisitions and fourth quarter voluntary contribution to U.S. pension plans of $180 million In-line with guidance, capital expenditures declined to $675 million from the prior year's $829 million Reinvestment ratio of 1.1 to 1 Working capital: Receivable days outstanding 59 55 2005 2004 Impacted by discontinuation of factoring program ($150m) Payable days 60 58 Inventory turns 18 19

2006 Outlook - First Quarter No change to October 11, 2005 guidance Sales: Approximately $6.8B 7% growth offset by deconsolidation and FX EPS from Continuing Operations: $0.82 - $0.85 Strong increase over $.75 in Q1 2005* (excludes one-time tax credit of $.06) York integration costs Near-term pressure from elevated commodity costs Building efficiency service growth initiative Power solutions capacity alignment costs, lead volatility Effective tax rate declines to 24.5% *Non-GAAP. See appendix for GAAP reconciliation

Growth Backlogs Increased demand for performance contracting Financial strength versus competitors Operating margin - level Near-term commodity pressures JV deconsolidation / Delphi battery acquisition Service growth initiative investments Financial position Year-end total debt to total capitalization 40% Continue to invest in businesses York acquisition U.S. regulatory approval received Integration activities gaining momentum December 2005 completion anticipated 2006 Outlook

Appendix

GAAP Reconciliation

Fourth Quarter: Key Platforms North America Europe North America Europe Positives Negatives Buick LaCrosse Hummer H3 Jeep Grand Cherokee, Commander Chrysler 300 Nissan Pathfinder Toyota Avalon (JV) Ford F-Series Ford Expedition/Navigator GM TrailBlazer/Envoy Toyota Camry (JV) Toyota Sequoia (JV) Honda Pilot (JV) Smart ForTwo, ForFour Mercedes A-Class, E Coupe VW Passat/Golf Range Rover Sport