Johnson Controls is an American multinational conglomerate producing automotive parts such as batteries and electronics and HVAC equipment for buildings. It employs 170,000 people in more than 1,300 locations across six continents. As of 2012 it was listed as 67th in the Fortune 500 and 251st in Global 500. On January 25, 2016, Johnson announced its merger with Tyco International to form \"Johnson Controls International plc\". The merger led to the avoidance of U.S. taxes of its foreign market operations and a financial windfall for the CEO. On October 31, 2016, the former Johnson Controls Automotive Experience division was spun off as a separate, publicly-traded company, Adient plc, and began trading on the New York Stock Exchange.