We're joined this morning by Steve Roell, Chairman and Chief Executive Officer of Johnson Controls, who will give an overview of the quarter and of fiscal 2011; followed by Bruce McDonald, Executive Vice President and Chief Financial Officer, to give a more detailed review of the business segments and our outlook on 2012. That will be followed by question and answers.And with that I'll turn it over to Steve. Stephen A. Roell Okay. Thank you, Glen. Well good morning and thank you for joining us. I'm going to preface my comments by just indicating that our 2011 results that we're sharing with you today and the outlook for 2012 are consistent with the previous guidance that we gave at our Analyst Day of 2 weeks ago in New York. I think our press release indicated that, and those of you that went through our models understand that. As I look at full-year results, record sales and earnings, I'm pleased with the fact that we overcame a really mixed macro environment. We did benefit from some global growth in the automotive business industry, but to be honest, there were times throughout the year that we thought it would even be stronger. But nevertheless, we did benefit from that. The building markets did not recover the way we expected. We assumed and it did get a good growth in the interim in the emerging markets, but certainly, things like the residential market were much weaker than what we expect to come year-over-year. And of course, we had that midyear disruption with the Japanese earthquake and tsunami and the inefficiencies that, that created. But despite that, the fact that we -- despite those conditions, we are performing our [indiscernible] markets, we have double-digit top line growth in earnings in all 3 of our businesses, and we believe we gained share significantly in every one of those 3.
I think the other thing that was noteworthy is the fact that there was increased clarity regarding the opportunity for AGM Battery growth in the future to support Start-Stop. I think we've commented on the fact that we invested almost $525 million of capital -- committed that, I should say, in 2011 for that growth that will require much more. But clearly, that opportunity came much clearer to us as the year progressed.It was also a record year of investment for us. It was a record year of capital investments, $1.3 billion, and also the fact that we made the strategic investments in automotive that totaled almost $1.4 billion. Both of those categories are critical to supporting our 2010 and beyond growth for our business. If I just look at the full-year numbers for our fiscal year sales for $40.8 billion, it's the first time that we exceeded the $40 billion mark, up 19% from last year. Our segment income was $2.4 billion compared to $1.9 billion in 2010, an income of $1.7 billion that resulted in earnings per share of $2.40, a 21% increase over the $1.99 a year ago. If I now then look at 2012, I really just want to reiterate some of the comments I made in New York regarding our confidence going into 2012. Clearly, with that investments, those investments that we've made in 2011, both the M&A and the capital, we'll start to see some accretion and benefit from those in our 2012 results. We all started the year with very strong backlogs. We had $2.3 billion of new orders in 2011 in our Automotive business, which resulted in a backlog of $4.2 billion in the next 3 years. I think our notes here indicate that $1 billion of that launch is in fiscal 2012. Read the rest of this transcript for free on seekingalpha.com