Johnson Controls discontinues receivables factoring programs

In a regulatory filing, Johnson Controls said, “During the three months ended March 31, 2024, the Company discontinued its receivables factoring programs. During the three months ended March 31, 2024, the Company did not factor any receivables and does not expect to engage in any receivables factoring during the remainder of fiscal year 2024. The Company expects to continue to fund its requirements for working capital, capital expenditures, dividends, minimum pension contributions, debt maturities and any potential acquisitions or stock repurchases in the remainder of fiscal 2024 from operations, supplemented by other sources of short- and long-term borrowings, including term loans, commercial paper and the issuance of debt securities.”