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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Honeywell International Inc | NASDAQ:HON | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.56 | 0.76% | 206.62 | 206.00 | 206.90 | 207.27 | 204.58 | 204.97 | 2,566,700 | 21:15:06 |
Delaware
|
|
22-2640650
|
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
|
|
300 South Tryon Street
|
|
28202
|
|
Charlotte,
|
NC
|
|
|
(Address of principal executive offices)
|
|
(Zip Code)
|
|
704
|
627-6200
|
|
|
(Registrant’s telephone number, including area code)
|
|
|
|
|
|
|
|
Not Applicable
|
|
|
|
(Former name, former address and former fiscal year,
if changed since last report)
|
|
Title of each class
|
|
Trading Symbol(s)
|
|
Name of each exchange on which registered
|
Common Stock, par value $1 per share*
|
|
HON
|
|
The New York Stock Exchange
|
0.650% Senior Notes due 2020
|
|
HON 20
|
|
The New York Stock Exchange
|
1.300% Senior Notes due 2023
|
|
HON 23A
|
|
The New York Stock Exchange
|
2.250% Senior Notes due 2028
|
|
HON 28A
|
|
The New York Stock Exchange
|
Large Accelerated Filer
|
x
|
Accelerated filer
|
☐
|
Non-Accelerated filer
|
☐
|
Smaller reporting company
|
☐
|
|
|
Emerging growth company
|
☐
|
|
Page No.
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|||
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|||
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|||
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|||
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|||
|
|
|
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|
|||
|
|
|
|
|
|||
|
|
|
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
|
(Dollars in millions, except per share amounts)
|
||||||||||||||
Product sales
|
$
|
6,793
|
|
|
$
|
8,477
|
|
|
$
|
20,496
|
|
|
$
|
25,414
|
|
Service sales
|
2,293
|
|
|
2,285
|
|
|
6,717
|
|
|
6,659
|
|
||||
Net sales
|
9,086
|
|
|
10,762
|
|
|
27,213
|
|
|
32,073
|
|
||||
Costs, expenses and other
|
|
|
|
|
|
|
|
||||||||
Cost of products sold
|
4,775
|
|
|
6,127
|
|
|
14,244
|
|
|
18,234
|
|
||||
Cost of services sold
|
1,263
|
|
|
1,429
|
|
|
3,767
|
|
|
4,127
|
|
||||
|
6,038
|
|
|
7,556
|
|
|
18,011
|
|
|
22,361
|
|
||||
Selling, general and administrative expenses
|
1,296
|
|
|
1,524
|
|
|
4,046
|
|
|
4,527
|
|
||||
Other (income) expense
|
(311
|
)
|
|
(275
|
)
|
|
(901
|
)
|
|
(859
|
)
|
||||
Interest and other financial charges
|
96
|
|
|
99
|
|
|
266
|
|
|
277
|
|
||||
|
7,119
|
|
|
8,904
|
|
|
21,422
|
|
|
26,306
|
|
||||
Income before taxes
|
1,967
|
|
|
1,858
|
|
|
5,791
|
|
|
5,767
|
|
||||
Tax expense (benefit)
|
319
|
|
|
(498
|
)
|
|
1,151
|
|
|
679
|
|
||||
Net income
|
1,648
|
|
|
2,356
|
|
|
4,640
|
|
|
5,088
|
|
||||
Less: Net income attributable to the noncontrolling interest
|
24
|
|
|
18
|
|
|
59
|
|
|
44
|
|
||||
Net income attributable to Honeywell
|
$
|
1,624
|
|
|
$
|
2,338
|
|
|
$
|
4,581
|
|
|
$
|
5,044
|
|
Earnings per share of common stock - basic
|
$
|
2.26
|
|
|
$
|
3.15
|
|
|
$
|
6.33
|
|
|
$
|
6.76
|
|
Earnings per share of common stock - assuming dilution
|
$
|
2.23
|
|
|
$
|
3.11
|
|
|
$
|
6.25
|
|
|
$
|
6.67
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
|
(Dollars in millions)
|
||||||||||||||
Net income
|
$
|
1,648
|
|
|
$
|
2,356
|
|
|
$
|
4,640
|
|
|
$
|
5,088
|
|
Other comprehensive income (loss), net of tax
|
|
|
|
|
|
|
|
||||||||
Foreign exchange translation adjustment
|
163
|
|
|
49
|
|
|
177
|
|
|
61
|
|
||||
Prior service credit (cost)
|
—
|
|
|
35
|
|
|
—
|
|
|
35
|
|
||||
Actuarial (gains) losses recognized
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
2
|
|
||||
Prior service (credit) cost recognized
|
(20
|
)
|
|
(18
|
)
|
|
(59
|
)
|
|
(55
|
)
|
||||
Pension and other postretirement benefits adjustments
|
(20
|
)
|
|
14
|
|
|
(59
|
)
|
|
(18
|
)
|
||||
Cash flow hedges recognized in other comprehensive income (loss)
|
62
|
|
|
24
|
|
|
110
|
|
|
27
|
|
||||
Less: Reclassification adjustment for gains (losses) included in net income
|
47
|
|
|
(9
|
)
|
|
86
|
|
|
(40
|
)
|
||||
Changes in fair value of cash flow hedges
|
15
|
|
|
33
|
|
|
24
|
|
|
67
|
|
||||
Other comprehensive income (loss), net of tax
|
158
|
|
|
96
|
|
|
142
|
|
|
110
|
|
||||
Comprehensive income
|
1,806
|
|
|
2,452
|
|
|
4,782
|
|
|
5,198
|
|
||||
Less: Comprehensive income attributable to the noncontrolling interest
|
19
|
|
|
8
|
|
|
56
|
|
|
31
|
|
||||
Comprehensive income attributable to Honeywell
|
$
|
1,787
|
|
|
$
|
2,444
|
|
|
$
|
4,726
|
|
|
$
|
5,167
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||
|
(Dollars in millions)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
|
|
||
Cash and cash equivalents
|
$
|
10,908
|
|
|
$
|
9,287
|
|
Short-term investments
|
1,456
|
|
|
1,623
|
|
||
Accounts receivable - net
|
7,583
|
|
|
7,508
|
|
||
Inventories
|
4,601
|
|
|
4,326
|
|
||
Other current assets
|
1,640
|
|
|
1,618
|
|
||
Total current assets
|
26,188
|
|
|
24,362
|
|
||
Investments and long-term receivables
|
631
|
|
|
742
|
|
||
Property, plant and equipment - net
|
5,240
|
|
|
5,296
|
|
||
Goodwill
|
15,426
|
|
|
15,546
|
|
||
Other intangible assets - net
|
3,787
|
|
|
4,139
|
|
||
Insurance recoveries for asbestos related liabilities
|
412
|
|
|
437
|
|
||
Deferred income taxes
|
241
|
|
|
382
|
|
||
Other assets
|
8,179
|
|
|
6,869
|
|
||
Total assets
|
$
|
60,104
|
|
|
$
|
57,773
|
|
LIABILITIES
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
5,522
|
|
|
$
|
5,607
|
|
Commercial paper and other short-term borrowings
|
3,422
|
|
|
3,586
|
|
||
Current maturities of long-term debt
|
4,088
|
|
|
2,872
|
|
||
Accrued liabilities
|
6,883
|
|
|
6,859
|
|
||
Total current liabilities
|
19,915
|
|
|
18,924
|
|
||
Long-term debt
|
11,101
|
|
|
9,756
|
|
||
Deferred income taxes
|
1,366
|
|
|
1,713
|
|
||
Postretirement benefit obligations other than pensions
|
329
|
|
|
344
|
|
||
Asbestos related liabilities
|
2,195
|
|
|
2,269
|
|
||
Other liabilities
|
6,885
|
|
|
6,402
|
|
||
Redeemable noncontrolling interest
|
7
|
|
|
7
|
|
||
SHAREOWNERS’ EQUITY
|
|
|
|
||||
Capital - common stock issued
|
958
|
|
|
958
|
|
||
- additional paid-in capital
|
6,806
|
|
|
6,452
|
|
||
Common stock held in treasury, at cost
|
(23,135
|
)
|
|
(19,771
|
)
|
||
Accumulated other comprehensive loss
|
(3,295
|
)
|
|
(3,437
|
)
|
||
Retained earnings
|
36,775
|
|
|
33,978
|
|
||
Total Honeywell shareowners’ equity
|
18,109
|
|
|
18,180
|
|
||
Noncontrolling interest
|
197
|
|
|
178
|
|
||
Total shareowners’ equity
|
18,306
|
|
|
18,358
|
|
||
Total liabilities, redeemable noncontrolling interest and shareowners’ equity
|
$
|
60,104
|
|
|
$
|
57,773
|
|
|
Nine Months Ended September 30,
|
||||||
|
2019
|
|
2018
|
||||
|
(Dollars in millions)
|
||||||
Cash flows from operating activities:
|
|
|
|
|
|
||
Net income
|
$
|
4,640
|
|
|
$
|
5,088
|
|
Less: Net income attributable to the noncontrolling interest
|
59
|
|
|
44
|
|
||
Net income attributable to Honeywell
|
4,581
|
|
|
5,044
|
|
||
Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities:
|
|
|
|
||||
Depreciation
|
500
|
|
|
558
|
|
||
Amortization
|
319
|
|
|
304
|
|
||
Repositioning and other charges
|
306
|
|
|
756
|
|
||
Net payments for repositioning and other charges
|
(157
|
)
|
|
(519
|
)
|
||
Pension and other postretirement income
|
(484
|
)
|
|
(769
|
)
|
||
Pension and other postretirement benefit payments
|
(50
|
)
|
|
(67
|
)
|
||
Stock compensation expense
|
112
|
|
|
131
|
|
||
Deferred income taxes
|
(298
|
)
|
|
(482
|
)
|
||
Other
|
98
|
|
|
(163
|
)
|
||
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
|
|
|
|
||||
Accounts receivable
|
(78
|
)
|
|
131
|
|
||
Inventories
|
(276
|
)
|
|
(459
|
)
|
||
Other current assets
|
(68
|
)
|
|
356
|
|
||
Accounts payable
|
(89
|
)
|
|
466
|
|
||
Accrued liabilities
|
(133
|
)
|
|
(412
|
)
|
||
Net cash provided by (used for) operating activities
|
4,283
|
|
|
4,875
|
|
||
Cash flows from investing activities:
|
|
|
|
||||
Expenditures for property, plant and equipment
|
(504
|
)
|
|
(522
|
)
|
||
Proceeds from disposals of property, plant and equipment
|
41
|
|
|
4
|
|
||
Increase in investments
|
(3,218
|
)
|
|
(2,882
|
)
|
||
Decrease in investments
|
3,318
|
|
|
4,634
|
|
||
Cash paid for acquisitions, net of cash acquired
|
(4
|
)
|
|
(51
|
)
|
||
Other
|
245
|
|
|
250
|
|
||
Net cash provided by (used for) investing activities
|
(122
|
)
|
|
1,433
|
|
||
Cash flows from financing activities:
|
|
|
|
||||
Proceeds from issuance of commercial paper and other short-term borrowings
|
10,292
|
|
|
19,300
|
|
||
Payments of commercial paper and other short-term borrowings
|
(10,293
|
)
|
|
(19,153
|
)
|
||
Proceeds from issuance of common stock
|
425
|
|
|
242
|
|
||
Proceeds from issuance of long-term debt
|
2,725
|
|
|
26
|
|
||
Payments of long-term debt
|
(120
|
)
|
|
(1,303
|
)
|
||
Repurchases of common stock
|
(3,650
|
)
|
|
(2,308
|
)
|
||
Cash dividends paid
|
(1,798
|
)
|
|
(1,669
|
)
|
||
Pre-separation funding
|
—
|
|
|
1,604
|
|
||
Other
|
(72
|
)
|
|
(141
|
)
|
||
Net cash provided by (used for) financing activities
|
(2,491
|
)
|
|
(3,402
|
)
|
||
Effect of foreign exchange rate changes on cash and cash equivalents
|
(49
|
)
|
|
(162
|
)
|
||
Net increase (decrease) in cash and cash equivalents
|
1,621
|
|
|
2,744
|
|
||
Cash and cash equivalents at beginning of period
|
9,287
|
|
|
7,059
|
|
||
Cash and cash equivalents at end of period
|
$
|
10,908
|
|
|
$
|
9,803
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||||||||||||||
2019
|
|
2018
|
|
2019
|
|
2018
|
|||||||||||||||||||||
Shares
|
|
$
|
|
Shares
|
|
$
|
|
Shares
|
|
$
|
|
Shares
|
|
$
|
|||||||||||||
|
(Dollars in millions, except per share amounts)
|
||||||||||||||||||||||||||
Common stock, par value
|
957.6
|
|
|
958
|
|
|
957.6
|
|
|
958
|
|
|
957.6
|
|
|
958
|
|
|
957.6
|
|
|
958
|
|
||||
Additional paid-in capital
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
|
|
6,780
|
|
|
|
|
6,317
|
|
|
|
|
6,452
|
|
|
|
|
6,212
|
|
||||||||
Issued for employee savings and option plans
|
|
|
(11
|
)
|
|
|
|
39
|
|
|
|
|
242
|
|
|
|
|
55
|
|
||||||||
Stock-based compensation expense
|
|
|
37
|
|
|
|
|
42
|
|
|
|
|
112
|
|
|
|
|
131
|
|
||||||||
Ending balance
|
|
|
6,806
|
|
|
|
|
6,398
|
|
|
|
|
6,806
|
|
|
|
|
6,398
|
|
||||||||
Treasury stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
(238.1
|
)
|
|
(22,156
|
)
|
|
(215.0
|
)
|
|
(17,557
|
)
|
|
(228.0
|
)
|
|
(19,771
|
)
|
|
(206.7
|
)
|
|
(15,914
|
)
|
||||
Reacquired stock or repurchases of common stock
|
(5.9
|
)
|
|
(1,000
|
)
|
|
(3.9
|
)
|
|
(604
|
)
|
|
(22.1
|
)
|
|
(3,650
|
)
|
|
(15.3
|
)
|
|
(2,308
|
)
|
||||
Issued for employee savings and option plans
|
0.9
|
|
|
21
|
|
|
1.6
|
|
|
59
|
|
|
7.0
|
|
|
286
|
|
|
4.7
|
|
|
120
|
|
||||
Ending balance
|
(243.1
|
)
|
|
(23,135
|
)
|
|
(217.3
|
)
|
|
(18,102
|
)
|
|
(243.1
|
)
|
|
(23,135
|
)
|
|
(217.3
|
)
|
|
(18,102
|
)
|
||||
Retained earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
|
|
35,741
|
|
|
|
|
29,331
|
|
|
|
|
33,978
|
|
|
|
|
27,481
|
|
||||||||
Adoption of new accounting standards
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
264
|
|
||||||||
Net income attributable to Honeywell
|
|
|
1,624
|
|
|
|
|
2,338
|
|
|
|
|
4,581
|
|
|
|
|
5,044
|
|
||||||||
Dividends on common stock
|
|
|
(590
|
)
|
|
|
|
(557
|
)
|
|
|
|
(1,784
|
)
|
|
|
|
(1,677
|
)
|
||||||||
Redemption value adjustment
|
|
|
—
|
|
|
|
|
(2
|
)
|
|
|
|
—
|
|
|
|
|
(2
|
)
|
||||||||
Ending balance
|
|
|
36,775
|
|
|
|
|
31,110
|
|
|
|
|
36,775
|
|
|
|
|
31,110
|
|
||||||||
Accumulated other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
|
|
(3,453
|
)
|
|
|
|
(2,222
|
)
|
|
|
|
(3,437
|
)
|
|
|
|
(2,235
|
)
|
||||||||
Foreign exchange translation adjustment
|
|
|
163
|
|
|
|
|
49
|
|
|
|
|
177
|
|
|
|
|
61
|
|
||||||||
Pensions and other postretirement benefit adjustments
|
|
|
(20
|
)
|
|
|
|
14
|
|
|
|
|
(59
|
)
|
|
|
|
(18
|
)
|
||||||||
Changes in fair value of cash flow hedges
|
|
|
15
|
|
|
|
|
34
|
|
|
|
|
24
|
|
|
|
|
67
|
|
||||||||
Ending balance
|
|
|
(3,295
|
)
|
|
|
|
(2,125
|
)
|
|
|
|
(3,295
|
)
|
|
|
|
(2,125
|
)
|
||||||||
Noncontrolling interest
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
|
|
190
|
|
|
|
|
173
|
|
|
|
|
178
|
|
|
|
|
163
|
|
||||||||
Acquisitions, divestitures, and other
|
|
|
1
|
|
|
|
|
—
|
|
|
|
|
1
|
|
|
|
|
1
|
|
||||||||
Net income attributable to noncontrolling interest
|
|
|
24
|
|
|
|
|
18
|
|
|
|
|
59
|
|
|
|
|
45
|
|
||||||||
Foreign exchange translation adjustment
|
|
|
(5
|
)
|
|
|
|
(10
|
)
|
|
|
|
(3
|
)
|
|
|
|
(14
|
)
|
||||||||
Dividends paid
|
|
|
(13
|
)
|
|
|
|
(4
|
)
|
|
|
|
(38
|
)
|
|
|
|
(18
|
)
|
||||||||
Ending balance
|
|
|
197
|
|
|
|
|
177
|
|
|
|
|
197
|
|
|
|
|
177
|
|
||||||||
Total shareowners' equity
|
714.5
|
|
|
18,306
|
|
|
740.3
|
|
|
18,416
|
|
|
714.5
|
|
|
18,306
|
|
|
740.3
|
|
|
18,416
|
|
||||
Cash dividends per share of common stock
|
|
|
$
|
0.820
|
|
|
|
|
$
|
0.745
|
|
|
|
|
$
|
2.460
|
|
|
|
|
$
|
2.235
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Severance
|
$
|
41
|
|
|
$
|
39
|
|
|
$
|
147
|
|
|
$
|
100
|
|
Asset impairments
|
15
|
|
|
26
|
|
|
26
|
|
|
74
|
|
||||
Exit costs
|
33
|
|
|
8
|
|
|
62
|
|
|
48
|
|
||||
Reserve adjustments
|
(3
|
)
|
|
1
|
|
|
(7
|
)
|
|
(2
|
)
|
||||
Total net repositioning charge
|
86
|
|
|
74
|
|
|
228
|
|
|
220
|
|
||||
Asbestos related litigation charges, net of insurance and indemnities
|
9
|
|
|
59
|
|
|
26
|
|
|
157
|
|
||||
Probable and reasonably estimable environmental liabilities, net of indemnities
|
6
|
|
|
150
|
|
|
59
|
|
|
334
|
|
||||
Other
|
(5
|
)
|
|
16
|
|
|
(7
|
)
|
|
45
|
|
||||
Total net repositioning and other charges
|
$
|
96
|
|
|
$
|
299
|
|
|
$
|
306
|
|
|
$
|
756
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Cost of products and services sold
|
$
|
75
|
|
|
$
|
261
|
|
|
$
|
204
|
|
|
$
|
605
|
|
Selling, general and administrative expenses
|
21
|
|
|
38
|
|
|
102
|
|
|
110
|
|
||||
Other (income) expense
|
—
|
|
|
—
|
|
|
—
|
|
|
41
|
|
||||
|
$
|
96
|
|
|
$
|
299
|
|
|
$
|
306
|
|
|
$
|
756
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Aerospace
|
$
|
12
|
|
|
$
|
54
|
|
|
$
|
32
|
|
|
$
|
157
|
|
Honeywell Building Technologies
|
28
|
|
|
4
|
|
|
36
|
|
|
17
|
|
||||
Performance Materials and Technologies
|
28
|
|
|
12
|
|
|
61
|
|
|
85
|
|
||||
Safety and Productivity Solutions
|
6
|
|
|
39
|
|
|
54
|
|
|
52
|
|
||||
Corporate
|
22
|
|
|
190
|
|
|
123
|
|
|
445
|
|
||||
|
$
|
96
|
|
|
$
|
299
|
|
|
$
|
306
|
|
|
$
|
756
|
|
|
Severance
Costs
|
|
Asset
Impairments
|
|
Exit
Costs
|
|
Total
|
||||||||
December 31, 2018
|
$
|
489
|
|
|
$
|
—
|
|
|
$
|
77
|
|
|
$
|
566
|
|
Charges
|
147
|
|
|
26
|
|
|
62
|
|
|
235
|
|
||||
Usage - cash
|
(122
|
)
|
|
—
|
|
|
(27
|
)
|
|
(149
|
)
|
||||
Usage - noncash
|
—
|
|
|
(26
|
)
|
|
—
|
|
|
(26
|
)
|
||||
Foreign currency translation
|
(3
|
)
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
||||
Adjustments
|
(7
|
)
|
|
—
|
|
|
—
|
|
|
(7
|
)
|
||||
September 30, 2019
|
$
|
504
|
|
|
$
|
—
|
|
|
$
|
112
|
|
|
$
|
616
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Interest income
|
$
|
(64
|
)
|
|
$
|
(55
|
)
|
|
$
|
(194
|
)
|
|
$
|
(154
|
)
|
Pension ongoing income – non-service
|
(180
|
)
|
|
(301
|
)
|
|
(549
|
)
|
|
(906
|
)
|
||||
Other postretirement income – non-service
|
(12
|
)
|
|
(12
|
)
|
|
(35
|
)
|
|
(24
|
)
|
||||
Equity income of affiliated companies
|
(13
|
)
|
|
(14
|
)
|
|
(33
|
)
|
|
(38
|
)
|
||||
Loss (gain) on sale of non-strategic business and assets
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
||||
Foreign exchange
|
(43
|
)
|
|
(15
|
)
|
|
(97
|
)
|
|
(27
|
)
|
||||
Separation costs
|
—
|
|
|
116
|
|
|
—
|
|
|
234
|
|
||||
Other (net)
|
1
|
|
|
6
|
|
|
8
|
|
|
56
|
|
||||
|
$
|
(311
|
)
|
|
$
|
(275
|
)
|
|
$
|
(901
|
)
|
|
$
|
(859
|
)
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
Basic
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Net income attributable to Honeywell
|
$
|
1,624
|
|
|
$
|
2,338
|
|
|
$
|
4,581
|
|
|
$
|
5,044
|
|
Weighted average shares outstanding
|
717.6
|
|
|
741.8
|
|
|
723.5
|
|
|
746.0
|
|
||||
Earnings per share of common stock
|
$
|
2.26
|
|
|
$
|
3.15
|
|
|
$
|
6.33
|
|
|
$
|
6.76
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
Assuming Dilution
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Net income attributable to Honeywell
|
$
|
1,624
|
|
|
$
|
2,338
|
|
|
$
|
4,581
|
|
|
$
|
5,044
|
|
Average Shares
|
|
|
|
|
|
|
|
||||||||
Weighted average shares outstanding
|
717.6
|
|
|
741.8
|
|
|
723.5
|
|
|
746.0
|
|
||||
Dilutive securities issuable - stock plans
|
9.1
|
|
|
10.2
|
|
|
9.3
|
|
|
10.0
|
|
||||
Total weighted average shares outstanding
|
726.7
|
|
|
752.0
|
|
|
732.8
|
|
|
756.0
|
|
||||
Earnings per share of common stock
|
$
|
2.23
|
|
|
$
|
3.11
|
|
|
$
|
6.25
|
|
|
$
|
6.67
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Aerospace
|
|
|
|
|
|
|
|
||||||||
Commercial Aviation Original Equipment
|
$
|
772
|
|
|
$
|
724
|
|
|
$
|
2,265
|
|
|
$
|
2,131
|
|
Commercial Aviation Aftermarket
|
1,452
|
|
|
1,370
|
|
|
4,234
|
|
|
3,964
|
|
||||
Defense and Space
|
1,320
|
|
|
1,134
|
|
|
3,894
|
|
|
3,348
|
|
||||
Transportation Systems
|
—
|
|
|
802
|
|
|
—
|
|
|
2,622
|
|
||||
|
3,544
|
|
|
4,030
|
|
|
10,393
|
|
|
12,065
|
|
||||
Honeywell Building Technologies
|
|
|
|
|
|
|
|
||||||||
Homes Products and Software
|
—
|
|
|
521
|
|
|
—
|
|
|
1,554
|
|
||||
Distribution (ADI)
|
—
|
|
|
671
|
|
|
—
|
|
|
1,985
|
|
||||
Products
|
823
|
|
|
720
|
|
|
2,476
|
|
|
2,188
|
|
||||
Building Solutions
|
592
|
|
|
605
|
|
|
1,778
|
|
|
1,769
|
|
||||
|
1,415
|
|
|
2,517
|
|
|
4,254
|
|
|
7,496
|
|
||||
Performance Materials and Technologies
|
|
|
|
|
|
|
|
||||||||
UOP
|
717
|
|
|
722
|
|
|
2,030
|
|
|
2,012
|
|
||||
Process Solutions
|
1,283
|
|
|
1,225
|
|
|
3,818
|
|
|
3,712
|
|
||||
Specialty Products
|
256
|
|
|
279
|
|
|
790
|
|
|
847
|
|
||||
Fluorine Products
|
414
|
|
|
414
|
|
|
1,339
|
|
|
1,301
|
|
||||
|
2,670
|
|
|
2,640
|
|
|
7,977
|
|
|
7,872
|
|
||||
Safety and Productivity Solutions
|
|
|
|
|
|
|
|
||||||||
Safety and Retail
|
558
|
|
|
564
|
|
|
1,653
|
|
|
1,680
|
|
||||
Productivity Products
|
271
|
|
|
329
|
|
|
809
|
|
|
1,017
|
|
||||
Warehouse and Workflow Solutions
|
419
|
|
|
463
|
|
|
1,478
|
|
|
1,299
|
|
||||
Sensing & Internet-of-Things (IoT)
|
209
|
|
|
219
|
|
|
649
|
|
|
644
|
|
||||
|
1,457
|
|
|
1,575
|
|
|
4,589
|
|
|
4,640
|
|
||||
Net sales
|
$
|
9,086
|
|
|
$
|
10,762
|
|
|
$
|
27,213
|
|
|
$
|
32,073
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||
Products, transferred point in time
|
62
|
%
|
|
67
|
%
|
|
61
|
%
|
|
68
|
%
|
Products, transferred over time
|
13
|
|
|
11
|
|
|
14
|
|
|
11
|
|
Net product sales
|
75
|
|
|
78
|
|
|
75
|
|
|
79
|
|
Services, transferred point in time
|
8
|
|
|
7
|
|
|
9
|
|
|
7
|
|
Services, transferred over time
|
17
|
|
|
15
|
|
|
16
|
|
|
14
|
|
Net service sales
|
25
|
|
|
22
|
|
|
25
|
|
|
21
|
|
Net sales
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
2019
|
|
2018
|
||||
Contract assets - Beginning period
|
$
|
1,548
|
|
|
$
|
1,721
|
|
Contract assets - September 30
|
1,812
|
|
|
1,689
|
|
||
Change in contract assets - increase (decrease)
|
$
|
264
|
|
|
$
|
(32
|
)
|
|
|
|
|
||||
Contract liabilities - Beginning period
|
$
|
(3,378
|
)
|
|
$
|
(2,973
|
)
|
Contract liabilities - September 30
|
(3,188
|
)
|
|
(3,165
|
)
|
||
Change in contract liabilities - decrease (increase)
|
$
|
190
|
|
|
$
|
(192
|
)
|
|
|
|
|
||||
Net change
|
$
|
454
|
|
|
$
|
(224
|
)
|
|
September 30, 2019
|
||
Aerospace
|
$
|
11,412
|
|
Honeywell Building Technologies
|
5,558
|
|
|
Performance Materials and Technologies
|
6,320
|
|
|
Safety and Productivity Solutions
|
1,839
|
|
|
|
$
|
25,129
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||
Trade
|
$
|
7,750
|
|
|
$
|
7,705
|
|
Less - Allowance for doubtful accounts
|
(167
|
)
|
|
(197
|
)
|
||
|
$
|
7,583
|
|
|
$
|
7,508
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||
Raw materials
|
$
|
1,083
|
|
|
$
|
1,109
|
|
Work in process
|
829
|
|
|
811
|
|
||
Finished products
|
2,734
|
|
|
2,445
|
|
||
|
4,646
|
|
|
4,365
|
|
||
Reduction to LIFO cost basis
|
(45
|
)
|
|
(39
|
)
|
||
|
$
|
4,601
|
|
|
$
|
4,326
|
|
|
Three Months Ended
September 30, 2019 |
|
Nine Months Ended
September 30, 2019 |
||||
Operating lease cost
|
$
|
62
|
|
|
$
|
172
|
|
Variable lease cost
|
3
|
|
|
17
|
|
||
Short-term lease cost
|
3
|
|
|
9
|
|
||
Financing lease cost:
|
|
|
|
||||
Amortization of right-of-use assets
|
15
|
|
|
43
|
|
||
Interest on lease liability
|
8
|
|
|
23
|
|
||
Total financing lease cost
|
23
|
|
|
66
|
|
||
Total lease cost
|
$
|
91
|
|
|
$
|
264
|
|
|
Three Months Ended
September 30, 2019 |
|
Nine Months Ended
September 30, 2019 |
||||
Cash paid for amounts included in the measurement of lease liabilities:
|
|
|
|
|
|
||
Operating cash flows from operating leases
|
$
|
65
|
|
|
$
|
174
|
|
Operating cash flows from finance leases
|
8
|
|
|
23
|
|
||
Financing cash flows from finance leases
|
14
|
|
|
40
|
|
||
Right-of-use assets obtained in exchange for lease obligations:
|
|
|
|
|
|||
Operating leases
|
$
|
92
|
|
|
$
|
118
|
|
Finance leases
|
9
|
|
|
17
|
|
|
September 30, 2019
|
||
Operating leases
|
|
||
Other assets
|
$
|
677
|
|
Accrued liabilities
|
176
|
|
|
Other liabilities
|
535
|
|
|
Total operating lease liabilities
|
$
|
711
|
|
Financing leases
|
|
||
Property, plant and equipment
|
$
|
321
|
|
Accumulated depreciation
|
(125
|
)
|
|
Property, plant and equipment - net
|
$
|
196
|
|
Current maturities of long-term debt
|
50
|
|
|
Long-term debt
|
150
|
|
|
Total financing lease liabilities
|
$
|
200
|
|
Weighted-average remaining lease term
|
|
||
Operating leases
|
6 years
|
|
|
Financing leases
|
4 years
|
|
|
Weighted-average discount rate
|
|
||
Operating leases
|
3.3
|
%
|
|
Financing leases
|
17.2
|
%
|
|
Operating Leases
|
Financing Leases
|
||||
2019
|
$
|
55
|
|
$
|
21
|
|
2020
|
186
|
|
75
|
|
||
2021
|
154
|
|
63
|
|
||
2022
|
122
|
|
47
|
|
||
2023
|
92
|
|
39
|
|
||
Thereafter
|
184
|
|
49
|
|
||
Total lease payments
|
793
|
|
294
|
|
||
Less: interest
|
(82
|
)
|
(94
|
)
|
||
Total
|
$
|
711
|
|
$
|
200
|
|
|
At December 31, 2018
|
||
2019
|
$
|
210
|
|
2020
|
168
|
|
|
2021
|
142
|
|
|
2022
|
109
|
|
|
2023
|
80
|
|
|
Thereafter
|
147
|
|
|
|
$
|
856
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||
1.40% notes due 2019
|
$
|
1,250
|
|
|
$
|
1,250
|
|
Three year floating rate notes due 2019
|
250
|
|
|
250
|
|
||
Two year floating rate notes due 2019
|
450
|
|
|
450
|
|
||
1.80% notes due 2019
|
750
|
|
|
750
|
|
||
0.65% Euro notes due 2020
|
1,093
|
|
|
1,145
|
|
||
4.25% notes due 2021
|
800
|
|
|
800
|
|
||
1.85% notes due 2021
|
1,500
|
|
|
1,500
|
|
||
2.15% notes due 2022
|
600
|
|
|
—
|
|
||
Floating rate notes due 2022
|
600
|
|
|
—
|
|
||
1.30% Euro notes due 2023
|
1,367
|
|
|
1,432
|
|
||
3.35% notes due 2023
|
300
|
|
|
300
|
|
||
2.30% notes due 2024
|
750
|
|
|
—
|
|
||
2.50% notes due 2026
|
1,500
|
|
|
1,500
|
|
||
2.25% Euro notes due 2028
|
820
|
|
|
859
|
|
||
2.70% notes due 2029
|
750
|
|
|
—
|
|
||
5.70% notes due 2036
|
441
|
|
|
441
|
|
||
5.70% notes due 2037
|
462
|
|
|
462
|
|
||
5.375% notes due 2041
|
417
|
|
|
417
|
|
||
3.812% notes due 2047
|
445
|
|
|
445
|
|
||
Industrial development bond obligations, floating rate maturing at various dates through 2037
|
22
|
|
|
22
|
|
||
6.625% debentures due 2028
|
201
|
|
|
201
|
|
||
9.065% debentures due 2033
|
51
|
|
|
51
|
|
||
Other (including capitalized leases and debt issuance costs), 6.0% weighted average maturing at various dates through 2025
|
370
|
|
|
353
|
|
||
|
15,189
|
|
|
12,628
|
|
||
Less: current portion
|
(4,088
|
)
|
|
(2,872
|
)
|
||
|
$
|
11,101
|
|
|
$
|
9,756
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||
Assets:
|
|
|
|
||||
Foreign currency exchange contracts
|
$
|
298
|
|
|
$
|
119
|
|
Available for sale investments
|
1,642
|
|
|
1,784
|
|
||
Interest rate swap agreements
|
74
|
|
|
20
|
|
||
Cross currency swap agreements
|
80
|
|
|
32
|
|
||
Liabilities:
|
|
|
|
||||
Foreign currency exchange contracts
|
$
|
10
|
|
|
$
|
4
|
|
Interest rate swap agreements
|
—
|
|
|
65
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||||||||||
|
Carrying
Value
|
|
Fair
Value
|
|
Carrying
Value
|
|
Fair
Value
|
||||||||
Assets
|
|
|
|
|
|
|
|
||||||||
Long-term receivables
|
$
|
153
|
|
|
$
|
152
|
|
|
$
|
333
|
|
|
$
|
329
|
|
Liabilities
|
|
|
|
|
|
|
|
||||||||
Long-term debt and related current maturities
|
$
|
15,189
|
|
|
$
|
16,455
|
|
|
$
|
12,628
|
|
|
$
|
13,133
|
|
Line in the Consolidated Balance Sheet of Hedged Item
|
|
Carrying Amount of the Hedged Item
|
|
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Item
|
||||||||||||
|
September 30, 2019
|
|
December 31, 2018
|
|
September 30, 2019
|
|
December 31, 2018
|
|||||||||
Long-term debt
|
|
$
|
4,773
|
|
|
$
|
2,555
|
|
|
$
|
73
|
|
|
$
|
(45
|
)
|
|
Three Months Ended September 30, 2019
|
||||||||||||||||||
|
Revenue
|
|
Cost of Products Sold
|
|
SG&A
|
|
Other (Income) Expense
|
|
Interest and Other Financial Charges
|
||||||||||
|
$
|
9,086
|
|
|
$
|
4,775
|
|
|
$
|
1,296
|
|
|
$
|
(311
|
)
|
|
$
|
96
|
|
Gain or (loss) on cash flow hedges:
|
|
|
|
|
|
|
|
|
|
||||||||||
Foreign currency exchange contracts:
|
|
|
|
|
|
|
|
|
|
||||||||||
Amount reclassified from accumulated other comprehensive income into income
|
1
|
|
|
9
|
|
|
—
|
|
|
53
|
|
|
—
|
|
|||||
Amount excluded from effectiveness testing recognized in earnings using an amortization approach
|
—
|
|
|
6
|
|
|
—
|
|
|
9
|
|
|
—
|
|
|||||
Gain or (loss) on fair value hedges:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest rate swap agreements:
|
|
|
|
|
|
|
|
|
|
||||||||||
Hedged items
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(55
|
)
|
|||||
Derivatives designated as hedges
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
55
|
|
|
Three Months Ended September 30, 2018
|
||||||||||||||||||
|
Revenue
|
|
Cost of Products Sold
|
|
SG&A
|
|
Other (Income) Expense
|
|
Interest and Other Financial Charges
|
||||||||||
|
$
|
10,762
|
|
|
$
|
6,127
|
|
|
$
|
1,524
|
|
|
$
|
(275
|
)
|
|
$
|
99
|
|
Gain or (loss) on cash flow hedges:
|
|
|
|
|
|
|
|
|
|
||||||||||
Foreign currency exchange contracts:
|
|
|
|
|
|
|
|
|
|
||||||||||
Amount reclassified from accumulated other comprehensive income into income
|
(2
|
)
|
|
(6
|
)
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|||||
Amount excluded from effectiveness testing recognized in earnings using an amortization approach
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Gain or (loss) on fair value hedges:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest rate swap agreements:
|
|
|
|
|
|
|
|
|
|
||||||||||
Hedged items
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
12
|
|
|||||
Derivatives designated as hedges
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(12
|
)
|
|
Nine Months Ended September 30, 2019
|
|||||||||||||||||
|
Revenue
|
|
Cost of Products Sold
|
|
SG&A
|
|
Other (Income) Expense
|
|
Interest and Other Financial Charges
|
|||||||||
|
$
|
27,213
|
|
|
$
|
14,244
|
|
|
$
|
4,046
|
|
|
(901
|
)
|
|
$
|
266
|
|
Gain or (loss) on cash flow hedges:
|
|
|
|
|
|
|
|
|
|
|||||||||
Foreign currency exchange contracts:
|
|
|
|
|
|
|
|
|
|
|||||||||
Amount reclassified from accumulated other comprehensive income into income
|
2
|
|
|
33
|
|
|
1
|
|
|
77
|
|
|
—
|
|
||||
Amount excluded from effectiveness testing recognized in earnings using an amortization approach
|
—
|
|
|
17
|
|
|
—
|
|
|
27
|
|
|
—
|
|
||||
Gain or (loss) on fair value hedges:
|
|
|
|
|
|
|
|
|
|
|||||||||
Interest rate swap agreements:
|
|
|
|
|
|
|
|
|
|
|||||||||
Hedged items
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(118
|
)
|
||||
Derivatives designated as hedges
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
118
|
|
|
Nine Months Ended September 30, 2018
|
||||||||||||||||||
|
Revenue
|
|
Cost of Products Sold
|
|
SG&A
|
|
Other (Income) Expense
|
|
Interest and Other Financial Charges
|
||||||||||
|
$
|
32,073
|
|
|
$
|
18,234
|
|
|
$
|
4,527
|
|
|
$
|
(859
|
)
|
|
$
|
277
|
|
Gain or (loss) on cash flow hedges:
|
|
|
|
|
|
|
|
|
|
||||||||||
Foreign currency exchange contracts:
|
|
|
|
|
|
|
|
|
|
||||||||||
Amount reclassified from accumulated other comprehensive income into income
|
(8
|
)
|
|
(40
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Amount excluded from effectiveness testing recognized in earnings using an amortization approach
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Gain or (loss) on fair value hedges:
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest rate swap agreements:
|
|
|
|
|
|
|
|
|
|
||||||||||
Hedged items
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
75
|
|
|||||
Derivatives designated as hedges
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(75
|
)
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
Derivatives Net Investment Hedging Relationships
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Euro-denominated long-term debt
|
$
|
131
|
|
|
$
|
20
|
|
|
$
|
157
|
|
|
$
|
139
|
|
Euro-denominated commercial paper
|
136
|
|
|
21
|
|
|
163
|
|
|
129
|
|
||||
Cross currency swap agreements
|
39
|
|
|
(10
|
)
|
|
44
|
|
|
10
|
|
||||
Foreign currency exchange contracts
|
23
|
|
|
—
|
|
|
28
|
|
|
—
|
|
|
Foreign
Exchange
Translation
Adjustment
|
|
Pension
and Other
Postretirement
Benefits
Adjustments
|
|
Changes in
Fair Value
of Cash Flow
Hedges
|
|
Total
|
||||||||
Balance at December 31, 2018
|
$
|
(2,709
|
)
|
|
$
|
(761
|
)
|
|
$
|
33
|
|
|
$
|
(3,437
|
)
|
Other comprehensive income (loss) before reclassifications
|
188
|
|
|
—
|
|
|
110
|
|
|
298
|
|
||||
Amounts reclassified from accumulated other comprehensive income
|
(11
|
)
|
|
(59
|
)
|
|
(86
|
)
|
|
(156
|
)
|
||||
Net current period other comprehensive income (loss)
|
177
|
|
|
(59
|
)
|
|
24
|
|
|
142
|
|
||||
Balance at September 30, 2019
|
$
|
(2,532
|
)
|
|
$
|
(820
|
)
|
|
$
|
57
|
|
|
$
|
(3,295
|
)
|
|
Foreign
Exchange
Translation
Adjustment
|
|
Pension
and Other
Postretirement
Benefits
Adjustments
|
|
Changes in
Fair Value
of
Cash Flow
Hedges
|
|
Total
|
||||||||
Balance at December 31, 2017
|
$
|
(1,981
|
)
|
|
$
|
(202
|
)
|
|
$
|
(52
|
)
|
|
$
|
(2,235
|
)
|
Other comprehensive income (loss) before reclassifications
|
61
|
|
|
35
|
|
|
27
|
|
|
123
|
|
||||
Amounts reclassified from accumulated other comprehensive income
|
—
|
|
|
(53
|
)
|
|
40
|
|
|
(13
|
)
|
||||
Net current period other comprehensive income (loss)
|
61
|
|
|
(18
|
)
|
|
67
|
|
|
110
|
|
||||
Balance at September 30, 2018
|
$
|
(1,920
|
)
|
|
$
|
(220
|
)
|
|
$
|
15
|
|
|
$
|
(2,125
|
)
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Net sales
|
|
|
|
|
|
|
|
|
|
|
|
||||
Aerospace
|
|
|
|
|
|
|
|
|
|
|
|
||||
Products
|
$
|
2,213
|
|
|
$
|
2,747
|
|
|
$
|
6,462
|
|
|
$
|
8,275
|
|
Services
|
1,331
|
|
|
1,283
|
|
|
3,931
|
|
|
3,790
|
|
||||
Total
|
3,544
|
|
|
4,030
|
|
|
10,393
|
|
|
12,065
|
|
||||
Honeywell Building Technologies
|
|
|
|
|
|
|
|
||||||||
Products
|
1,091
|
|
|
2,157
|
|
|
3,283
|
|
|
6,423
|
|
||||
Services
|
324
|
|
|
360
|
|
|
971
|
|
|
1,073
|
|
||||
Total
|
1,415
|
|
|
2,517
|
|
|
4,254
|
|
|
7,496
|
|
||||
Performance Materials and Technologies
|
|
|
|
|
|
|
|
||||||||
Products
|
2,129
|
|
|
2,089
|
|
|
6,437
|
|
|
6,346
|
|
||||
Services
|
541
|
|
|
551
|
|
|
1,540
|
|
|
1,526
|
|
||||
Total
|
2,670
|
|
|
2,640
|
|
|
7,977
|
|
|
7,872
|
|
||||
Safety and Productivity Solutions
|
|
|
|
|
|
|
|
||||||||
Products
|
1,360
|
|
|
1,484
|
|
|
4,314
|
|
|
4,370
|
|
||||
Services
|
97
|
|
|
91
|
|
|
275
|
|
|
270
|
|
||||
Total
|
1,457
|
|
|
1,575
|
|
|
4,589
|
|
|
4,640
|
|
||||
|
$
|
9,086
|
|
|
$
|
10,762
|
|
|
$
|
27,213
|
|
|
$
|
32,073
|
|
Segment profit
|
|
|
|
|
|
|
|
||||||||
Aerospace
|
$
|
908
|
|
|
$
|
891
|
|
|
$
|
2,653
|
|
|
$
|
2,702
|
|
Honeywell Building Technologies
|
297
|
|
|
430
|
|
|
868
|
|
|
1,273
|
|
||||
Performance Materials and Technologies
|
582
|
|
|
560
|
|
|
1,790
|
|
|
1,676
|
|
||||
Safety and Productivity Solutions
|
195
|
|
|
262
|
|
|
598
|
|
|
760
|
|
||||
Corporate
|
(54
|
)
|
|
(53
|
)
|
|
(202
|
)
|
|
(181
|
)
|
||||
Total segment profit
|
1,928
|
|
|
2,090
|
|
|
5,707
|
|
|
6,230
|
|
||||
Interest and other financial charges
|
(96
|
)
|
|
(99
|
)
|
|
(266
|
)
|
|
(277
|
)
|
||||
Stock compensation expense(a)
|
(37
|
)
|
|
(41
|
)
|
|
(112
|
)
|
|
(131
|
)
|
||||
Pension ongoing income(b)
|
150
|
|
|
247
|
|
|
449
|
|
|
745
|
|
||||
Other postretirement income(b)
|
12
|
|
|
12
|
|
|
35
|
|
|
24
|
|
||||
Repositioning and other charges(c)
|
(96
|
)
|
|
(299
|
)
|
|
(306
|
)
|
|
(756
|
)
|
||||
Other(d)
|
106
|
|
|
(52
|
)
|
|
284
|
|
|
(68
|
)
|
||||
Income before taxes
|
$
|
1,967
|
|
|
$
|
1,858
|
|
|
$
|
5,791
|
|
|
$
|
5,767
|
|
|
U.S. Plans
|
||||||||||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Service cost
|
$
|
21
|
|
|
$
|
35
|
|
|
$
|
63
|
|
|
$
|
105
|
|
Interest cost
|
153
|
|
|
143
|
|
|
460
|
|
|
430
|
|
||||
Expected return on plan assets
|
(279
|
)
|
|
(357
|
)
|
|
(837
|
)
|
|
(1,071
|
)
|
||||
Amortization of prior service (credit)
|
(11
|
)
|
|
(11
|
)
|
|
(33
|
)
|
|
(33
|
)
|
||||
|
$
|
(116
|
)
|
|
$
|
(190
|
)
|
|
$
|
(347
|
)
|
|
$
|
(569
|
)
|
|
Non-U.S. Plans
|
||||||||||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Service cost
|
$
|
4
|
|
|
$
|
6
|
|
|
$
|
16
|
|
|
$
|
20
|
|
Interest cost
|
34
|
|
|
35
|
|
|
106
|
|
|
108
|
|
||||
Expected return on plan assets
|
(81
|
)
|
|
(108
|
)
|
|
(248
|
)
|
|
(336
|
)
|
||||
Amortization of prior service (credit)
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
||||
|
$
|
(43
|
)
|
|
$
|
(67
|
)
|
|
$
|
(126
|
)
|
|
$
|
(209
|
)
|
December 31, 2018
|
$
|
755
|
|
Accruals for environmental matters deemed probable and reasonably estimable
|
169
|
|
|
Environmental liability payments
|
(135
|
)
|
|
Other
|
(4
|
)
|
|
September 30, 2019
|
$
|
785
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||
Accrued liabilities
|
$
|
184
|
|
|
$
|
175
|
|
Other liabilities
|
601
|
|
|
580
|
|
||
|
$
|
785
|
|
|
$
|
755
|
|
Asbestos-Related Liabilities
|
|
|
|
|
|
||||||
|
Bendix
|
|
NARCO
|
|
Total
|
||||||
December 31, 2018
|
$
|
1,623
|
|
|
$
|
891
|
|
|
$
|
2,514
|
|
Accrual for update to estimated liability
|
48
|
|
|
17
|
|
|
65
|
|
|||
Asbestos related liability payments
|
(126
|
)
|
|
(13
|
)
|
|
(139
|
)
|
|||
September 30, 2019
|
$
|
1,545
|
|
|
$
|
895
|
|
|
$
|
2,440
|
|
Insurance Recoveries for Asbestos-Related Liabilities
|
|
|
|
|
|
|
|
|
|||
|
Bendix
|
|
NARCO
|
|
Total
|
||||||
December 31, 2018
|
$
|
170
|
|
|
$
|
307
|
|
|
$
|
477
|
|
Insurance receipts for asbestos related liabilities
|
(34
|
)
|
|
(13
|
)
|
|
(47
|
)
|
|||
Insurance receivables settlements
|
18
|
|
|
4
|
|
|
22
|
|
|||
September 30, 2019
|
$
|
154
|
|
|
$
|
298
|
|
|
$
|
452
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||
Other current assets
|
$
|
40
|
|
|
$
|
40
|
|
Insurance recoveries for asbestos-related liabilities
|
412
|
|
|
437
|
|
||
|
$
|
452
|
|
|
$
|
477
|
|
Accrued liabilities
|
$
|
245
|
|
|
$
|
245
|
|
Asbestos-related liabilities
|
2,195
|
|
|
2,269
|
|
||
|
$
|
2,440
|
|
|
$
|
2,514
|
|
(i)
|
liability for unasserted claims; and
|
(ii)
|
liability for claims asserted after the NARCO Trust became operational but not yet paid.
|
|
Nine Months Ended
September 30, |
|
Years Ended
December 31, |
|||||
Claims Activity
|
2019
|
|
2018
|
|
2017
|
|||
Claims unresolved at the beginning of period
|
6,209
|
|
|
6,280
|
|
|
7,724
|
|
Claims filed
|
1,996
|
|
|
2,430
|
|
|
2,645
|
|
Claims resolved
|
(1,744
|
)
|
|
(2,501
|
)
|
|
(4,089
|
)
|
Claims unresolved at the end of period
|
6,461
|
|
|
6,209
|
|
|
6,280
|
|
Disease Distribution of Unresolved Claims
|
September 30,
|
|
December 31,
|
|||||
|
2019
|
|
2018
|
|
2017
|
|||
Mesothelioma and other cancer claims
|
3,323
|
|
|
2,949
|
|
|
3,062
|
|
Nonmalignant claims
|
3,138
|
|
|
3,260
|
|
|
3,218
|
|
Total claims
|
6,461
|
|
|
6,209
|
|
|
6,280
|
|
|
Years Ended December 31,
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2015
|
|
2014
|
||||||||||
|
(in whole dollars)
|
||||||||||||||||||
Malignant claims
|
$
|
55,300
|
|
|
$
|
56,000
|
|
|
$
|
44,000
|
|
|
$
|
44,000
|
|
|
$
|
53,500
|
|
Nonmalignant claims
|
$
|
4,700
|
|
|
$
|
2,800
|
|
|
$
|
4,485
|
|
|
$
|
100
|
|
|
$
|
120
|
|
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF
|
|
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
|
(Dollars in millions, except per share amounts)
|
A.
|
Results of Operations – three and nine months ended September 30, 2019 compared with the three and nine months ended September 30, 2018
|
Net Sales
|
|
|
|
||||||||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Net sales
|
$
|
9,086
|
|
|
$
|
10,762
|
|
|
$
|
27,213
|
|
|
$
|
32,073
|
|
% change compared with prior period
|
(16
|
)%
|
|
|
|
|
(15
|
)%
|
|
|
|
|
Three Months
|
|
Year to Date
|
||
Volume
|
2
|
%
|
|
4
|
%
|
Price
|
1
|
%
|
|
2
|
%
|
Foreign Currency Translation
|
(1
|
)%
|
|
(2
|
)%
|
Acquisitions/Divestitures
|
(18
|
)%
|
|
(19
|
)%
|
|
(16
|
)%
|
|
(15
|
)%
|
Cost of Products and Services Sold
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Cost of products and services sold
|
$
|
6,038
|
|
|
$
|
7,556
|
|
|
$
|
18,011
|
|
|
$
|
22,361
|
|
% change compared with prior period
|
(20
|
)%
|
|
|
|
|
(19
|
)%
|
|
|
|
||||
Gross margin percentage
|
33.5
|
%
|
|
29.8
|
%
|
|
33.8
|
%
|
|
30.3
|
%
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Selling, general and administrative expense
|
$
|
1,296
|
|
|
$
|
1,524
|
|
|
$
|
4,046
|
|
|
$
|
4,527
|
|
% of sales
|
14.3
|
%
|
|
14.2
|
%
|
|
14.9
|
%
|
|
14.1
|
%
|
Other (Income) Expense
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Other (income) expense
|
$
|
(311
|
)
|
|
$
|
(275
|
)
|
|
$
|
(901
|
)
|
|
$
|
(859
|
)
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Tax expense (benefit)
|
$
|
319
|
|
|
$
|
(498
|
)
|
|
$
|
1,151
|
|
|
$
|
679
|
|
Effective tax rate
|
16.2
|
%
|
|
(26.8
|
)%
|
|
19.9
|
%
|
|
11.8
|
%
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Net income attributable to Honeywell
|
$
|
1,624
|
|
|
$
|
2,338
|
|
|
$
|
4,581
|
|
|
$
|
5,044
|
|
Earnings per share of common stock – assuming dilution
|
$
|
2.23
|
|
|
$
|
3.11
|
|
|
$
|
6.25
|
|
|
$
|
6.67
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||||||||
|
2019
|
|
2018
|
|
%
Change
|
|
2019
|
|
2018
|
|
%
Change
|
||||||||||
Aerospace sales
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial Aviation Original Equipment
|
$
|
772
|
|
|
$
|
724
|
|
|
7
|
%
|
|
$
|
2,265
|
|
|
$
|
2,131
|
|
|
6
|
%
|
Commercial Aviation Aftermarket
|
1,452
|
|
|
1,370
|
|
|
6
|
%
|
|
4,234
|
|
|
3,964
|
|
|
7
|
%
|
||||
Defense and Space
|
1,320
|
|
|
1,134
|
|
|
16
|
%
|
|
3,894
|
|
|
3,348
|
|
|
16
|
%
|
||||
Transportation Systems
|
—
|
|
|
802
|
|
|
(100
|
)%
|
|
—
|
|
|
2,622
|
|
|
(100
|
)%
|
||||
Total Aerospace sales
|
3,544
|
|
|
4,030
|
|
|
|
|
10,393
|
|
|
12,065
|
|
|
|
||||||
Honeywell Building Technologies sales
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Homes
|
—
|
|
|
1,192
|
|
|
(100
|
)%
|
|
—
|
|
|
3,539
|
|
|
(100
|
)%
|
||||
Buildings
|
1,415
|
|
|
1,325
|
|
|
7
|
%
|
|
4,254
|
|
|
3,957
|
|
|
8
|
%
|
||||
Total Honeywell Building Technologies sales
|
1,415
|
|
|
2,517
|
|
|
|
|
4,254
|
|
|
7,496
|
|
|
|
||||||
Performance Materials and Technologies sales
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
UOP
|
717
|
|
|
722
|
|
|
(1
|
)%
|
|
2,030
|
|
|
2,012
|
|
|
1
|
%
|
||||
Process Solutions
|
1,283
|
|
|
1,225
|
|
|
5
|
%
|
|
3,818
|
|
|
3,712
|
|
|
3
|
%
|
||||
Advanced Materials
|
670
|
|
|
693
|
|
|
(3
|
)%
|
|
2,129
|
|
|
2,148
|
|
|
(1
|
)%
|
||||
Total Performance Materials and Technologies sales
|
2,670
|
|
|
2,640
|
|
|
|
|
7,977
|
|
|
7,872
|
|
|
|
||||||
Safety and Productivity Solutions sales
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Safety
|
558
|
|
|
564
|
|
|
(1
|
)%
|
|
1,653
|
|
|
1,680
|
|
|
(2
|
)%
|
||||
Productivity Solutions
|
899
|
|
|
1,011
|
|
|
(11
|
)%
|
|
2,936
|
|
|
2,960
|
|
|
(1
|
)%
|
||||
Total Safety and Productivity Solutions sales
|
1,457
|
|
|
1,575
|
|
|
|
|
4,589
|
|
|
4,640
|
|
|
|
||||||
Net sales
|
$
|
9,086
|
|
|
$
|
10,762
|
|
|
|
|
$
|
27,213
|
|
|
$
|
32,073
|
|
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
||||||||||||||||||
|
2019
|
|
2018
|
|
%
Change
|
|
2019
|
|
2018
|
|
%
Change
|
||||||||||
Net sales
|
$
|
3,544
|
|
|
$
|
4,030
|
|
|
(12
|
)%
|
|
$
|
10,393
|
|
|
$
|
12,065
|
|
|
(14
|
)%
|
Cost of products and services sold
|
2,375
|
|
|
2,843
|
|
|
|
|
6,944
|
|
|
8,470
|
|
|
|
||||||
Selling, general and administrative and other expenses
|
261
|
|
|
296
|
|
|
|
|
796
|
|
|
893
|
|
|
|
||||||
Segment profit
|
$
|
908
|
|
|
$
|
891
|
|
|
2
|
%
|
|
$
|
2,653
|
|
|
$
|
2,702
|
|
|
(2
|
)%
|
|
2019 vs. 2018
|
||||||||||
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
||||||||
Factors Contributing to Year-Over-Year Change
|
Sales
|
|
Segment
Profit
|
|
Sales
|
|
Segment
Profit
|
||||
Organic growth/ Operational segment profit
|
10
|
%
|
|
22
|
%
|
|
10
|
%
|
|
22
|
%
|
Foreign currency translation
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
Acquisitions, divestitures and other, net
|
(22
|
)%
|
|
(20
|
)%
|
|
(24
|
)%
|
|
(24
|
)%
|
Total % change
|
(12
|
)%
|
|
2
|
%
|
|
(14
|
)%
|
|
(2
|
)%
|
•
|
Commercial Aviation Original Equipment sales increased 7% (increased 7% organic) in the quarter primarily due to increased demand from air transport, regional, and business aviation original equipment manufacturers (OEMs) and increased 6% (increased 7% organic) in the nine months primarily due to increased demand from business aviation OEMs.
|
•
|
Commercial Aviation Aftermarket sales increased 6% (increased 6% organic) in the quarter and increased 7% (increased 7% organic) in the nine months with growth in both air transport and regional, and business aviation.
|
•
|
Defense and Space sales increased 16% (increased 17% organic) in the quarter and nine months primarily driven by growth in U.S. and international defense.
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
||||||||||||||||||
|
2019
|
|
2018
|
|
% Change
|
|
2019
|
|
2018
|
|
% Change
|
||||||||||
Net sales
|
$
|
1,415
|
|
|
$
|
2,517
|
|
|
(44
|
)%
|
|
$
|
4,254
|
|
|
$
|
7,496
|
|
|
(43
|
)%
|
Cost of products and services sold
|
841
|
|
|
1,644
|
|
|
|
|
2,563
|
|
|
4,918
|
|
|
|
||||||
Selling, general and administrative and other expenses
|
277
|
|
|
443
|
|
|
|
|
823
|
|
|
1,305
|
|
|
|
||||||
Segment profit
|
$
|
297
|
|
|
$
|
430
|
|
|
(31
|
)%
|
|
$
|
868
|
|
|
$
|
1,273
|
|
|
(32
|
)%
|
|
2019 vs. 2018
|
||||||||||
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
||||||||
Factors Contributing to Year-Over-Year Change
|
Sales
|
|
Segment
Profit
|
|
Sales
|
|
Segment
Profit
|
||||
Organic growth/ Operational segment profit
|
3
|
%
|
|
10
|
%
|
|
6
|
%
|
|
9
|
%
|
Foreign currency translation
|
(1
|
)%
|
|
(2
|
)%
|
|
(2
|
)%
|
|
(2
|
)%
|
Acquisitions, divestitures and other, net
|
(46
|
)%
|
|
(39
|
)%
|
|
(47
|
)%
|
|
(39
|
)%
|
Total % change
|
(44
|
)%
|
|
(31
|
)%
|
|
(43
|
)%
|
|
(32
|
)%
|
•
|
Sales in Building Technologies, excluding the Homes divestiture and related impacts, increased 7% (increased 3% organic) in the quarter primarily due to higher organic sales growth in Products, partially offset by the unfavorable impact of foreign currency translation. Sales increased 8% (increased 6% organic) in the nine months primarily due to higher organic growth in both Products and Building Solutions, partially offset by the unfavorable impact of foreign currency translation.
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
||||||||||||||||||
|
2019
|
|
2018
|
|
%
Change
|
|
2019
|
|
2018
|
|
%
Change
|
||||||||||
Net sales
|
$
|
2,670
|
|
|
$
|
2,640
|
|
|
1
|
%
|
|
$
|
7,977
|
|
|
$
|
7,872
|
|
|
1
|
%
|
Cost of products and services sold
|
1,742
|
|
|
1,715
|
|
|
|
|
|
5,121
|
|
|
5,141
|
|
|
|
|
||||
Selling, general and administrative and other expenses
|
346
|
|
|
365
|
|
|
|
|
|
1,066
|
|
|
1,055
|
|
|
|
|
||||
Segment profit
|
$
|
582
|
|
|
$
|
560
|
|
|
4
|
%
|
|
$
|
1,790
|
|
|
$
|
1,676
|
|
|
7
|
%
|
|
2019 vs. 2018
|
||||||||||
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||
Factors Contributing to Year-Over-Year Change
|
Sales
|
|
Segment
Profit
|
|
Sales
|
|
Segment
Profit
|
||||
Organic growth/ Operational segment profit
|
3
|
%
|
|
5
|
%
|
|
4
|
%
|
|
9
|
%
|
Foreign currency translation
|
(2
|
)%
|
|
(1
|
)%
|
|
(3
|
)%
|
|
(2
|
)%
|
Acquisitions, divestitures, and other, net
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
Total % change
|
1
|
%
|
|
4
|
%
|
|
1
|
%
|
|
7
|
%
|
•
|
UOP sales decreased 1% (flat organic) in the quarter driven primarily by the unfavorable impact of foreign currency translation, with growth in catalyst and licensing sales offset by lower gas processing volumes. UOP sales increased 1% (increased 2% organic) in the nine months driven primarily by growth in catalyst and licensing sales, partially offset by lower gas processing equipment volumes.
|
•
|
Process Solutions sales increased 5% (increased 7% organic) in the quarter primarily driven by increases in maintenance and migration services and projects, partially offset by the unfavorable impact of foreign currency translation. Process Solutions sales increased 3% (increased 6% organic) in the nine months driven primarily by increases in maintenance and migration services, partially offset by the unfavorable impact of foreign currency translation.
|
•
|
Advanced Materials sales decreased 3% (decreased 2% organic) in the quarter driven primarily by decreases in specialty products volumes. Advanced Materials sales decreased 1% (increased 1% organic) in the nine months driven primarily by decreases in specialty products and the unfavorable impact of foreign currency translation, partially offset by growth in fluorine products.
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
||||||||||||||||||
|
2019
|
|
2018
|
|
%
Change
|
|
2019
|
|
2018
|
|
%
Change
|
||||||||||
Net sales
|
$
|
1,457
|
|
|
$
|
1,575
|
|
|
(7
|
)%
|
|
$
|
4,589
|
|
|
$
|
4,640
|
|
|
(1
|
)%
|
Cost of products and services sold
|
984
|
|
|
1,045
|
|
|
|
|
|
3,129
|
|
|
3,068
|
|
|
|
|||||
Selling, general and administrative and other expenses
|
278
|
|
|
268
|
|
|
|
|
|
862
|
|
|
812
|
|
|
|
|||||
Segment profit
|
$
|
195
|
|
|
$
|
262
|
|
|
(26
|
)%
|
|
$
|
598
|
|
|
$
|
760
|
|
|
(21
|
)%
|
|
2019 vs. 2018
|
||||||||||
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
||||||||
Factors Contributing to Year-Over-Year Change
|
Sales
|
|
Segment
Profit
|
|
Sales
|
|
Segment
Profit
|
||||
Organic growth/ Operational segment profit
|
(8
|
)%
|
|
(26
|
)%
|
|
(1
|
)%
|
|
(21
|
)%
|
Foreign currency translation
|
(1
|
)%
|
|
(2
|
)%
|
|
(2
|
)%
|
|
(2
|
)%
|
Acquisitions, divestitures, and other, net
|
2
|
%
|
|
2
|
%
|
|
2
|
%
|
|
2
|
%
|
Total % change
|
(7
|
)%
|
|
(26
|
)%
|
|
(1
|
)%
|
|
(21
|
)%
|
•
|
Sales in Safety decreased 1% (flat organic) for the quarter and decreased 2% (increased 1% organic) for the nine months. The decrease in sales for the quarter was driven by the unfavorable impact of foreign currency translation. For the nine months, the decrease in sales was primarily driven by the unfavorable impact of foreign currency translation, partially offset by favorable pricing.
|
•
|
Sales in Productivity Solutions decreased 11% (decreased 13% organic) for the quarter and decreased 1% (decreased 3% organic) for the nine months. The decrease in sales for the quarter is primarily attributable to lower sales volumes in Intelligrated due to the timing of large projects, lower sales volumes in Productivity Products, and the unfavorable impact of foreign currency translation, partially offset by acquisitions. The decrease in sales for the nine months is primarily attributable to lower sales volumes in Productivity Products and the unfavorable impact of foreign currency translation, partially offset by acquisitions.
|
B.
|
Liquidity and Capital Resources
|
|
Nine Months Ended September 30,
|
||||||
|
2019
|
|
2018
|
||||
Cash provided by (used for):
|
|
|
|
|
|
||
Operating activities
|
$
|
4,283
|
|
|
$
|
4,875
|
|
Investing activities
|
(122
|
)
|
|
1,433
|
|
||
Financing activities
|
(2,491
|
)
|
|
(3,402
|
)
|
||
Effect of exchange rate changes on cash
|
(49
|
)
|
|
(162
|
)
|
||
Net increase (decrease) in cash and cash equivalents
|
$
|
1,621
|
|
|
$
|
2,744
|
|
Item 3.
|
Quantitative and Qualitative Disclosures About Market Risks
|
Item 4.
|
Controls and Procedures
|
Item 1.
|
Legal Proceedings
|
|
|
|
General Legal Matters
|
|
Environmental Matters Involving Potential Monetary Sanctions in Excess of $100,000
|
Item 1A.
|
Risk Factors
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
Issuer Purchases of Equity Securities
|
|||||||||||||
|
(a)
|
|
(b)
|
|
(c)
|
|
(d)
|
||||||
Period
|
Total Number of Shares Purchased
|
|
Average Price Paid per Share
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
|
|
Approximate Dollar Value of Shares that May Yet be Purchased Under Plans or Programs (Dollars in millions)
|
||||||
July 2019
|
1,291,430
|
|
|
$
|
174.50
|
|
|
1,291,430
|
|
|
$
|
8,514
|
|
August 2019
|
3,628,346
|
|
|
$
|
167.08
|
|
|
3,628,346
|
|
|
$
|
7,907
|
|
September 2019
|
1,018,579
|
|
|
$
|
165.23
|
|
|
1,018,579
|
|
|
$
|
7,739
|
|
Item 6.
|
Exhibits
|
Exhibit
No.
|
|
Description
|
|
10.1
|
|
|
|
|
|
|
|
31.1
|
|
|
|
|
|
|
|
31.2
|
|
|
|
|
|
|
|
32.1
|
|
|
|
|
|
|
|
32.2
|
|
|
|
|
|
|
|
101.INS
|
|
|
The following financial statements from the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, formatted in Inline XBRL: (i) Consolidated Statements of Cash Flows, (ii) Consolidated Statements of Operations, (iii) Consolidated Statements of Comprehensive Income, (iv) Consolidated Balance Sheets, and (v) Notes to Consolidated Financial Statements, tagged as blocks of text and including detailed tags.
|
|
|
|
|
101.SCH
|
|
|
Inline XBRL Taxonomy Extension Schema (filed herewith)
|
|
|
|
|
101.CAL
|
|
|
Inline XBRL Taxonomy Extension Calculation Linkbase (filed herewith)
|
|
|
|
|
101.DEF
|
|
|
Inline XBRL Taxonomy Extension Definition Linkbase (filed herewith)
|
|
|
|
|
101.LAB
|
|
|
Inline XBRL Taxonomy Extension Label Linkbase (filed herewith)
|
|
|
|
|
101.PRE
|
|
|
Inline XBRL Taxonomy Extension Presentation Linkbase (filed herewith)
|
|
|
|
|
104
|
|
|
Cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, formatted in Inline XBRL (and contained in Exhibit 101)
|
|
Honeywell International Inc.
|
|
|
|
|
Date: October 17, 2019
|
By:
|
/s/ Robert D. Mailloux
|
|
|
Robert D. Mailloux
Vice President and Controller
(on behalf of the Registrant
and as the Registrant’s
Principal Accounting Officer)
|
|
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