false--12-31Q320190000773840Reimbursements associated with the indemnification and reimbursement agreement with a Garrett subsidiary (the "Agreement") were $114 million for the nine months ended September 30, 2019 and offset operating cash outflows incurred by the Company. As the Company records the accruals for matters covered by the indemnification and reimbursement agreement, a corresponding receivable from Garrett for 90 percent of such accrual is also recorded. This receivable amount was $25 million in the nine months ended September 30, 2019. As of September 30, 2019, Other Current Assets and Other Assets includes $164 million and $932 million representing the short-term and long-term portion of the receivable amount due from Garrett under the indemnification and reimbursement agreement. Reimbursements associated with the indemnification and reimbursement agreement with a Resideo subsidiary were $105 million in the nine months ended September 30, 2019 and offset operating cash outflows incurred by the Company. As the Company records the accruals for environmental matters deemed probable and reasonably estimable related to the sites covered by the indemnification and reimbursement agreement, a corresponding receivable from Resideo for 90 percent of such accrual is also recorded. This receivable amount recorded in the nine months ended September 30, 2019 was $67 million. As of September 30, 2019, Other Current Assets and Other Assets includes $140 million and $438 million representing the short-term and long-term portion of the receivable amount due from Resideo under the indemnification and reimbursement agreement. 9576000000.066250.090650.0130.02250.00650.0140.01850.0180.02300.02150.0250.02700.03350.038120.04250.053750.0570.0570.060P4Y150000000015000000004500000000Honeywell has appealed the District Court’s ruling on this “full premium” damages issue, and believes that the Sixth Circuit Court of Appeals will reverse the District Court on that issue.P6YThe timing of satisfaction of our performance obligations does not significantly vary from the typical timing of payment. Typical payment terms of our fixed-price over time contracts include progress payments based on specified events or milestones, or based on project progress. For some contracts we may be entitled to receive an advance payment.Performance obligations recognized as of September 30, 2019 will be satisfied over the course of future periods. Our disclosure of the timing for satisfying the performance obligation is based on the requirements of contracts with customers. However, from time to time, these contracts may be subject to modifications, impacting the timing of satisfying the performance obligations. Performance obligations expected to be satisfied within one year and greater than one year are 57% and 43%, respectively. 0000773840 2019-01-01 2019-09-30 0000773840 2019-09-30 0000773840 hon:EuroNotes130Due2023Member 2019-01-01 2019-09-30 0000773840 hon:EuroNotes65Due2020Member 2019-01-01 2019-09-30 0000773840 us-gaap:CommonStockMember 2019-01-01 2019-09-30 0000773840 hon:EuroNotes225Due2028Member 2019-01-01 2019-09-30 0000773840 2018-07-01 2018-09-30 0000773840 2018-01-01 2018-09-30 0000773840 hon:ServicesMember 2019-01-01 2019-09-30 0000773840 2019-07-01 2019-09-30 0000773840 hon:ServicesMember 2018-01-01 2018-09-30 0000773840 hon:ServicesMember 2019-07-01 2019-09-30 0000773840 hon:ProductsMember 2018-01-01 2018-09-30 0000773840 hon:ServicesMember 2018-07-01 2018-09-30 0000773840 hon:ProductsMember 2018-07-01 2018-09-30 0000773840 hon:ProductsMember 2019-01-01 2019-09-30 0000773840 hon:ProductsMember 2019-07-01 2019-09-30 0000773840 2018-12-31 0000773840 2018-09-30 0000773840 2017-12-31 0000773840 us-gaap:NoncontrollingInterestMember 2017-12-31 0000773840 us-gaap:TreasuryStockMember 2019-06-30 0000773840 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-09-30 0000773840 us-gaap:NoncontrollingInterestMember 2018-07-01 2018-09-30 0000773840 us-gaap:CommonStockMember 2018-09-30 0000773840 us-gaap:RetainedEarningsMember 2019-01-01 2019-09-30 0000773840 us-gaap:CommonStockMember 2019-09-30 0000773840 us-gaap:RetainedEarningsMember 2017-12-31 0000773840 us-gaap:NoncontrollingInterestMember 2018-01-01 2018-09-30 0000773840 us-gaap:RetainedEarningsMember 2019-06-30 0000773840 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-09-30 0000773840 us-gaap:NoncontrollingInterestMember 2019-06-30 0000773840 us-gaap:NoncontrollingInterestMember 2019-07-01 2019-09-30 0000773840 us-gaap:RetainedEarningsMember 2019-09-30 0000773840 us-gaap:RetainedEarningsMember 2018-01-01 0000773840 us-gaap:TreasuryStockMember 2019-07-01 2019-09-30 0000773840 us-gaap:TreasuryStockMember 2018-06-30 0000773840 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-09-30 0000773840 us-gaap:TreasuryStockMember 2018-07-01 2018-09-30 0000773840 us-gaap:TreasuryStockMember 2018-01-01 2018-09-30 0000773840 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000773840 us-gaap:RetainedEarningsMember 2018-07-01 2018-09-30 0000773840 us-gaap:AdditionalPaidInCapitalMember 2019-07-01 2019-09-30 0000773840 us-gaap:AdditionalPaidInCapitalMember 2018-09-30 0000773840 us-gaap:RetainedEarningsMember 2018-01-01 2018-09-30 0000773840 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-07-01 2019-09-30 0000773840 us-gaap:NoncontrollingInterestMember 2018-09-30 0000773840 us-gaap:TreasuryStockMember 2019-01-01 2019-09-30 0000773840 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-09-30 0000773840 us-gaap:TreasuryStockMember 2018-12-31 0000773840 us-gaap:TreasuryStockMember 2018-09-30 0000773840 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0000773840 us-gaap:AdditionalPaidInCapitalMember 2019-09-30 0000773840 us-gaap:RetainedEarningsMember 2019-07-01 2019-09-30 0000773840 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-07-01 2018-09-30 0000773840 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0000773840 us-gaap:RetainedEarningsMember 2018-06-30 0000773840 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-09-30 0000773840 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0000773840 us-gaap:AdditionalPaidInCapitalMember 2018-07-01 2018-09-30 0000773840 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-09-30 0000773840 us-gaap:NoncontrollingInterestMember 2019-09-30 0000773840 us-gaap:RetainedEarningsMember 2018-09-30 0000773840 us-gaap:RetainedEarningsMember 2018-12-31 0000773840 us-gaap:TreasuryStockMember 2019-09-30 0000773840 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-09-30 0000773840 us-gaap:NoncontrollingInterestMember 2018-06-30 0000773840 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000773840 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0000773840 us-gaap:TreasuryStockMember 2017-12-31 0000773840 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0000773840 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0000773840 us-gaap:NoncontrollingInterestMember 2018-12-31 0000773840 us-gaap:EmployeeSeveranceMember 2019-01-01 2019-09-30 0000773840 hon:TangibleAndIntangibleAssetImpairmentMember 2018-01-01 2018-09-30 0000773840 us-gaap:FacilityClosingMember 2018-01-01 2018-09-30 0000773840 us-gaap:EmployeeSeveranceMember 2018-01-01 2018-09-30 0000773840 us-gaap:EmployeeSeveranceMember 2019-07-01 2019-09-30 0000773840 us-gaap:EmployeeSeveranceMember 2018-07-01 2018-09-30 0000773840 hon:TangibleAndIntangibleAssetImpairmentMember 2019-01-01 2019-09-30 0000773840 us-gaap:FacilityClosingMember 2019-01-01 2019-09-30 0000773840 us-gaap:FacilityClosingMember 2018-07-01 2018-09-30 0000773840 hon:RestructuringReserveAccrualAdjustmentsMember 2018-01-01 2018-09-30 0000773840 hon:TangibleAndIntangibleAssetImpairmentMember 2018-07-01 2018-09-30 0000773840 hon:RestructuringReserveAccrualAdjustmentsMember 2019-01-01 2019-09-30 0000773840 us-gaap:FacilityClosingMember 2019-07-01 2019-09-30 0000773840 hon:RestructuringReserveAccrualAdjustmentsMember 2019-07-01 2019-09-30 0000773840 hon:RestructuringReserveAccrualAdjustmentsMember 2018-07-01 2018-09-30 0000773840 hon:TangibleAndIntangibleAssetImpairmentMember 2019-07-01 2019-09-30 0000773840 us-gaap:EmployeeSeveranceMember 2019-09-30 0000773840 us-gaap:FacilityClosingMember 2019-09-30 0000773840 hon:TangibleAndIntangibleAssetImpairmentMember 2018-12-31 0000773840 us-gaap:EmployeeSeveranceMember 2018-12-31 0000773840 hon:TangibleAndIntangibleAssetImpairmentMember 2019-09-30 0000773840 us-gaap:FacilityClosingMember 2018-12-31 0000773840 hon:HomeAndBuildingTechnologiesMember 2019-07-01 2019-09-30 0000773840 hon:SafetyAndProductivitySolutionsMember 2019-07-01 2019-09-30 0000773840 hon:SafetyAndProductivitySolutionsMember 2019-01-01 2019-09-30 0000773840 hon:AerospaceMember 2018-01-01 2018-09-30 0000773840 hon:PerformanceMaterialsAndTechnologiesMember 2018-01-01 2018-09-30 0000773840 us-gaap:CorporateNonSegmentMember 2019-01-01 2019-09-30 0000773840 hon:HomeAndBuildingTechnologiesMember 2018-01-01 2018-09-30 0000773840 hon:AerospaceMember 2019-01-01 2019-09-30 0000773840 hon:AerospaceMember 2018-07-01 2018-09-30 0000773840 hon:SafetyAndProductivitySolutionsMember 2018-01-01 2018-09-30 0000773840 hon:PerformanceMaterialsAndTechnologiesMember 2018-07-01 2018-09-30 0000773840 hon:PerformanceMaterialsAndTechnologiesMember 2019-07-01 2019-09-30 0000773840 hon:AerospaceMember 2019-07-01 2019-09-30 0000773840 hon:HomeAndBuildingTechnologiesMember 2019-01-01 2019-09-30 0000773840 us-gaap:CorporateNonSegmentMember 2019-07-01 2019-09-30 0000773840 us-gaap:CorporateNonSegmentMember 2018-01-01 2018-09-30 0000773840 hon:SafetyAndProductivitySolutionsMember 2018-07-01 2018-09-30 0000773840 us-gaap:CorporateNonSegmentMember 2018-07-01 2018-09-30 0000773840 hon:HomeAndBuildingTechnologiesMember 2018-07-01 2018-09-30 0000773840 hon:PerformanceMaterialsAndTechnologiesMember 2019-01-01 2019-09-30 0000773840 hon:OtherOperatingAndNonoperatingIncomeExpenseMember 2019-01-01 2019-09-30 0000773840 hon:OtherOperatingAndNonoperatingIncomeExpenseMember 2018-07-01 2018-09-30 0000773840 hon:OtherOperatingAndNonoperatingIncomeExpenseMember 2018-01-01 2018-09-30 0000773840 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-01-01 2018-09-30 0000773840 us-gaap:CostOfSalesMember 2018-01-01 2018-09-30 0000773840 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-01-01 2019-09-30 0000773840 us-gaap:CostOfSalesMember 2018-07-01 2018-09-30 0000773840 us-gaap:CostOfSalesMember 2019-07-01 2019-09-30 0000773840 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-07-01 2019-09-30 0000773840 hon:OtherOperatingAndNonoperatingIncomeExpenseMember 2019-07-01 2019-09-30 0000773840 us-gaap:CostOfSalesMember 2019-01-01 2019-09-30 0000773840 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-07-01 2018-09-30 0000773840 us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-09-30 0000773840 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-07-01 2018-09-30 0000773840 us-gaap:PensionPlansDefinedBenefitMember 2018-01-01 2018-09-30 0000773840 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-07-01 2019-09-30 0000773840 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-01-01 2018-09-30 0000773840 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-01-01 2019-09-30 0000773840 us-gaap:PensionPlansDefinedBenefitMember 2018-07-01 2018-09-30 0000773840 us-gaap:PensionPlansDefinedBenefitMember 2019-07-01 2019-09-30 0000773840 us-gaap:SpinoffMember 2018-01-01 2018-09-30 0000773840 hon:SensingAndInternetOfThingsMember hon:SafetyAndProductivitySolutionsMember 2019-01-01 2019-09-30 0000773840 hon:CommercialAviationAftermarketMember hon:AerospaceMember 2018-01-01 2018-09-30 0000773840 hon:ProductivityProductsMember hon:SafetyAndProductivitySolutionsMember 2019-07-01 2019-09-30 0000773840 hon:TransportationSystemsMember hon:AerospaceMember 2019-07-01 2019-09-30 0000773840 hon:ProductivityProductsMember hon:SafetyAndProductivitySolutionsMember 2018-07-01 2018-09-30 0000773840 hon:SensingAndInternetOfThingsMember hon:SafetyAndProductivitySolutionsMember 2018-01-01 2018-09-30 0000773840 hon:WarehouseAndWorkflowSolutionsMember hon:SafetyAndProductivitySolutionsMember 2019-07-01 2019-09-30 0000773840 hon:SpecialtyProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2019-07-01 2019-09-30 0000773840 hon:ProductsAndSoftwareMember hon:HomeAndBuildingTechnologiesMember 2018-01-01 2018-09-30 0000773840 hon:TransportationSystemsMember hon:AerospaceMember 2019-01-01 2019-09-30 0000773840 hon:SpecialtyProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2018-07-01 2018-09-30 0000773840 hon:BuildingProductsMember hon:HomeAndBuildingTechnologiesMember 2019-01-01 2019-09-30 0000773840 hon:WarehouseAndWorkflowSolutionsMember hon:SafetyAndProductivitySolutionsMember 2019-01-01 2019-09-30 0000773840 hon:ProcessSolutionsMember hon:PerformanceMaterialsAndTechnologiesMember 2019-07-01 2019-09-30 0000773840 hon:SpecialtyProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2018-01-01 2018-09-30 0000773840 hon:CommercialAviationAftermarketMember hon:AerospaceMember 2019-07-01 2019-09-30 0000773840 hon:TransportationSystemsMember hon:AerospaceMember 2018-01-01 2018-09-30 0000773840 hon:ProductsAndSoftwareMember hon:HomeAndBuildingTechnologiesMember 2019-07-01 2019-09-30 0000773840 hon:SafetyAndRetailMember hon:SafetyAndProductivitySolutionsMember 2018-07-01 2018-09-30 0000773840 hon:BuildingSolutionsMember hon:HomeAndBuildingTechnologiesMember 2018-01-01 2018-09-30 0000773840 hon:FluorineProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2019-07-01 2019-09-30 0000773840 hon:TransportationSystemsMember hon:AerospaceMember 2018-07-01 2018-09-30 0000773840 hon:ProductsAndSoftwareMember hon:HomeAndBuildingTechnologiesMember 2018-07-01 2018-09-30 0000773840 hon:BuildingProductsMember hon:HomeAndBuildingTechnologiesMember 2018-07-01 2018-09-30 0000773840 hon:ProductivityProductsMember hon:SafetyAndProductivitySolutionsMember 2019-01-01 2019-09-30 0000773840 hon:WarehouseAndWorkflowSolutionsMember hon:SafetyAndProductivitySolutionsMember 2018-01-01 2018-09-30 0000773840 hon:ProcessSolutionsMember hon:PerformanceMaterialsAndTechnologiesMember 2018-01-01 2018-09-30 0000773840 hon:BuildingSolutionsMember hon:HomeAndBuildingTechnologiesMember 2019-07-01 2019-09-30 0000773840 hon:DistributionAdiMember hon:HomeAndBuildingTechnologiesMember 2019-07-01 2019-09-30 0000773840 hon:FluorineProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2019-01-01 2019-09-30 0000773840 hon:CommercialAviationOriginalEquipmentMember hon:AerospaceMember 2019-07-01 2019-09-30 0000773840 hon:UopMember hon:PerformanceMaterialsAndTechnologiesMember 2019-01-01 2019-09-30 0000773840 hon:DistributionAdiMember hon:HomeAndBuildingTechnologiesMember 2018-01-01 2018-09-30 0000773840 hon:WarehouseAndWorkflowSolutionsMember hon:SafetyAndProductivitySolutionsMember 2018-07-01 2018-09-30 0000773840 hon:SafetyAndRetailMember hon:SafetyAndProductivitySolutionsMember 2019-01-01 2019-09-30 0000773840 hon:DistributionAdiMember hon:HomeAndBuildingTechnologiesMember 2018-07-01 2018-09-30 0000773840 hon:CommercialAviationOriginalEquipmentMember hon:AerospaceMember 2018-07-01 2018-09-30 0000773840 hon:DefenseServicesMember hon:AerospaceMember 2018-01-01 2018-09-30 0000773840 hon:CommercialAviationAftermarketMember hon:AerospaceMember 2018-07-01 2018-09-30 0000773840 hon:DistributionAdiMember hon:HomeAndBuildingTechnologiesMember 2019-01-01 2019-09-30 0000773840 hon:BuildingSolutionsMember hon:HomeAndBuildingTechnologiesMember 2019-01-01 2019-09-30 0000773840 hon:DefenseServicesMember hon:AerospaceMember 2018-07-01 2018-09-30 0000773840 hon:CommercialAviationOriginalEquipmentMember hon:AerospaceMember 2018-01-01 2018-09-30 0000773840 hon:ProcessSolutionsMember hon:PerformanceMaterialsAndTechnologiesMember 2019-01-01 2019-09-30 0000773840 hon:BuildingProductsMember hon:HomeAndBuildingTechnologiesMember 2018-01-01 2018-09-30 0000773840 hon:CommercialAviationAftermarketMember hon:AerospaceMember 2019-01-01 2019-09-30 0000773840 hon:UopMember hon:PerformanceMaterialsAndTechnologiesMember 2019-07-01 2019-09-30 0000773840 hon:SafetyAndRetailMember hon:SafetyAndProductivitySolutionsMember 2018-01-01 2018-09-30 0000773840 hon:UopMember hon:PerformanceMaterialsAndTechnologiesMember 2018-07-01 2018-09-30 0000773840 hon:ProductsAndSoftwareMember hon:HomeAndBuildingTechnologiesMember 2019-01-01 2019-09-30 0000773840 hon:FluorineProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2018-07-01 2018-09-30 0000773840 hon:SpecialtyProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2019-01-01 2019-09-30 0000773840 hon:ProductivityProductsMember hon:SafetyAndProductivitySolutionsMember 2018-01-01 2018-09-30 0000773840 hon:CommercialAviationOriginalEquipmentMember hon:AerospaceMember 2019-01-01 2019-09-30 0000773840 hon:SafetyAndRetailMember hon:SafetyAndProductivitySolutionsMember 2019-07-01 2019-09-30 0000773840 hon:BuildingProductsMember hon:HomeAndBuildingTechnologiesMember 2019-07-01 2019-09-30 0000773840 hon:ProcessSolutionsMember hon:PerformanceMaterialsAndTechnologiesMember 2018-07-01 2018-09-30 0000773840 hon:DefenseServicesMember hon:AerospaceMember 2019-07-01 2019-09-30 0000773840 hon:UopMember hon:PerformanceMaterialsAndTechnologiesMember 2018-01-01 2018-09-30 0000773840 hon:SensingAndInternetOfThingsMember hon:SafetyAndProductivitySolutionsMember 2018-07-01 2018-09-30 0000773840 hon:BuildingSolutionsMember hon:HomeAndBuildingTechnologiesMember 2018-07-01 2018-09-30 0000773840 hon:DefenseServicesMember hon:AerospaceMember 2019-01-01 2019-09-30 0000773840 hon:SensingAndInternetOfThingsMember hon:SafetyAndProductivitySolutionsMember 2019-07-01 2019-09-30 0000773840 hon:FluorineProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2018-01-01 2018-09-30 0000773840 hon:SafetyAndProductivitySolutionsMember 2019-09-30 0000773840 hon:HomeAndBuildingTechnologiesMember 2019-09-30 0000773840 hon:AerospaceMember 2019-09-30 0000773840 hon:PerformanceMaterialsAndTechnologiesMember 2019-09-30 0000773840 hon:ProductsMember us-gaap:TransferredOverTimeMember 2018-01-01 2018-09-30 0000773840 hon:ServicesMember us-gaap:TransferredOverTimeMember 2019-01-01 2019-09-30 0000773840 hon:ServicesMember us-gaap:TransferredAtPointInTimeMember 2018-07-01 2018-09-30 0000773840 hon:ServicesMember us-gaap:TransferredOverTimeMember 2019-07-01 2019-09-30 0000773840 hon:ProductsMember us-gaap:TransferredAtPointInTimeMember 2019-01-01 2019-09-30 0000773840 hon:ProductsMember us-gaap:TransferredAtPointInTimeMember 2019-07-01 2019-09-30 0000773840 hon:ProductsMember us-gaap:TransferredOverTimeMember 2019-07-01 2019-09-30 0000773840 hon:ServicesMember us-gaap:TransferredOverTimeMember 2018-01-01 2018-09-30 0000773840 hon:ProductsMember us-gaap:TransferredOverTimeMember 2019-01-01 2019-09-30 0000773840 hon:ProductsMember us-gaap:TransferredAtPointInTimeMember 2018-01-01 2018-09-30 0000773840 hon:ServicesMember us-gaap:TransferredOverTimeMember 2018-07-01 2018-09-30 0000773840 hon:ProductsMember us-gaap:TransferredAtPointInTimeMember 2018-07-01 2018-09-30 0000773840 hon:ServicesMember us-gaap:TransferredAtPointInTimeMember 2018-01-01 2018-09-30 0000773840 hon:ProductsMember us-gaap:TransferredOverTimeMember 2018-07-01 2018-09-30 0000773840 hon:ServicesMember us-gaap:TransferredAtPointInTimeMember 2019-07-01 2019-09-30 0000773840 hon:ServicesMember us-gaap:TransferredAtPointInTimeMember 2019-01-01 2019-09-30 0000773840 hon:WithinOneYearMember 2019-09-30 0000773840 hon:GreaterThanOneYearMember 2019-09-30 0000773840 2018-01-01 0000773840 hon:Notes2019Member 2019-01-01 2019-09-30 0000773840 us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 0000773840 srt:MinimumMember 2019-09-30 0000773840 srt:MaximumMember 2019-09-30 0000773840 hon:Notes215Due2022Member 2019-09-30 0000773840 hon:Notes335Due2023Member 2019-09-30 0000773840 hon:OtherIncludingCapitalizedLeasesAndDebtIssuanceCosts6WeightedAverageMaturingAtVariousDatesThrough2025MemberMember 2019-09-30 0000773840 hon:Notes3812Due2047Member 2018-12-31 0000773840 hon:Notes250Due2026Member 2018-12-31 0000773840 hon:FloatingRateNotesDue2022Member 2019-09-30 0000773840 hon:Notes570Due2036Member 2019-09-30 0000773840 hon:Debentures9065Due2033Member 2019-09-30 0000773840 hon:Notes18Due2019Member 2018-12-31 0000773840 hon:Notes425Due2021Member 2018-12-31 0000773840 hon:Notes2.30Due2024Member 2018-12-31 0000773840 hon:Notes270Due2029Member 2019-09-30 0000773840 hon:EuroNotes65Due2020Member 2019-09-30 0000773840 hon:Notes425Due2021Member 2019-09-30 0000773840 hon:EuroNotes225Due2028Member 2019-09-30 0000773840 hon:Notes18Due2019Member 2019-09-30 0000773840 hon:IndustrialDevelopmentBondObligationsFloatingRateMaturingAtVariousDatesThrough2037Member 2018-12-31 0000773840 hon:Notes140Due2019Member 2019-09-30 0000773840 hon:OtherIncludingCapitalizedLeasesAndDebtIssuanceCosts6WeightedAverageMaturingAtVariousDatesThrough2025MemberMember 2018-12-31 0000773840 hon:EuroNotes130Due2023Member 2019-09-30 0000773840 hon:Notes335Due2023Member 2018-12-31 0000773840 hon:IndustrialDevelopmentBondObligationsFloatingRateMaturingAtVariousDatesThrough2037Member 2019-09-30 0000773840 hon:FloatingRateNotesDue2022Member 2018-12-31 0000773840 hon:Debentures6625Due2028Member 2018-12-31 0000773840 hon:Debentures9065Due2033Member 2018-12-31 0000773840 hon:ThreeYearFloatingRateNotesDue2019Member 2018-12-31 0000773840 hon:Notes140Due2019Member 2018-12-31 0000773840 hon:Notes2.30Due2024Member 2019-09-30 0000773840 hon:Notes3812Due2047Member 2019-09-30 0000773840 hon:Notes185Due2021Member 2018-12-31 0000773840 hon:Notes215Due2022Member 2018-12-31 0000773840 hon:Debentures6625Due2028Member 2019-09-30 0000773840 hon:ThreeYearFloatingRateNotesDue2019Member 2019-09-30 0000773840 hon:Notes185Due2021Member 2019-09-30 0000773840 hon:EuroNotes65Due2020Member 2018-12-31 0000773840 hon:TwoYearFloatingRateNotesDue2019Member 2019-09-30 0000773840 hon:Notes270Due2029Member 2018-12-31 0000773840 hon:Notes570Due2037Member 2018-12-31 0000773840 hon:TwoYearFloatingRateNotesDue2019Member 2018-12-31 0000773840 hon:EuroNotes130Due2023Member 2018-12-31 0000773840 hon:Notes570Due2037Member 2019-09-30 0000773840 hon:Notes570Due2036Member 2018-12-31 0000773840 hon:Notes5375Due2041Member 2019-09-30 0000773840 hon:EuroNotes225Due2028Member 2018-12-31 0000773840 hon:Notes5375Due2041Member 2018-12-31 0000773840 hon:Notes250Due2026Member 2019-09-30 0000773840 hon:CreditAgreement5YearCreditAgreementMember hon:SyndicateOfBanksMember 2019-09-30 0000773840 hon:Prior5YearCreditAgreementMember 2019-09-30 0000773840 us-gaap:RevolvingCreditFacilityMember hon:SyndicateOfBanksMember 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-07-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember hon:InterestAndOtherFinancialChargesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-07-01 2018-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2018-07-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-07-01 2018-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember hon:InterestAndOtherFinancialChargesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2018-07-01 2018-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2018-07-01 2018-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2018-07-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-07-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherOperatingIncomeExpenseMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-07-01 2018-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherOperatingIncomeExpenseMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2018-07-01 2018-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember hon:InterestAndOtherFinancialChargesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2019-07-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherOperatingIncomeExpenseMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-07-01 2019-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2019-07-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-07-01 2019-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2019-07-01 2019-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2019-07-01 2019-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherOperatingIncomeExpenseMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2019-07-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-07-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-07-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember hon:InterestAndOtherFinancialChargesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-07-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000773840 us-gaap:InterestRateContractMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000773840 us-gaap:InterestRateContractMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000773840 us-gaap:CurrencySwapMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000773840 us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000773840 us-gaap:CurrencySwapMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000773840 us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000773840 us-gaap:LongTermDebtMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-30 0000773840 us-gaap:LongTermDebtMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-12-31 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember hon:InterestAndOtherFinancialChargesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherOperatingIncomeExpenseMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember hon:InterestAndOtherFinancialChargesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherOperatingIncomeExpenseMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherOperatingIncomeExpenseMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember hon:InterestAndOtherFinancialChargesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherOperatingIncomeExpenseMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember hon:InterestAndOtherFinancialChargesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CostOfSalesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SellingGeneralAndAdministrativeExpensesMember hon:AccumulatedNetGainLossFromDesignatedOrQualifyingFairValueHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-09-30 0000773840 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2018-12-31 0000773840 us-gaap:FairValueInputsLevel2Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-09-30 0000773840 us-gaap:FairValueInputsLevel2Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2018-12-31 0000773840 hon:NetInvestmentEuroDenominatedCommercialPaperMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-09-30 0000773840 hon:NetInvestmentEuroDenominatedLongtermDebtMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-07-01 2019-09-30 0000773840 hon:NetInvestmentEuroDenominatedLongtermDebtMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-07-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-07-01 2019-09-30 0000773840 hon:NetInvestmentEuroDenominatedLongtermDebtMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-09-30 0000773840 hon:NetInvestmentCrossCurrencySwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-07-01 2018-09-30 0000773840 hon:NetInvestmentEuroDenominatedCommercialPaperMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-07-01 2019-09-30 0000773840 hon:NetInvestmentEuroDenominatedLongtermDebtMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-09-30 0000773840 hon:NetInvestmentEuroDenominatedCommercialPaperMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-09-30 0000773840 hon:NetInvestmentCrossCurrencySwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-07-01 2019-09-30 0000773840 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-09-30 0000773840 hon:NetInvestmentEuroDenominatedCommercialPaperMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-07-01 2018-09-30 0000773840 hon:NetInvestmentCrossCurrencySwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-09-30 0000773840 hon:NetInvestmentCrossCurrencySwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-07-01 2018-09-30 0000773840 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-01-01 2019-09-30 0000773840 hon:OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesMember 2019-01-01 2019-09-30 0000773840 us-gaap:AccumulatedTranslationAdjustmentMember 2019-01-01 2019-09-30 0000773840 us-gaap:AccumulatedTranslationAdjustmentMember 2019-09-30 0000773840 hon:OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesMember 2018-12-31 0000773840 us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0000773840 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-09-30 0000773840 hon:OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesMember 2019-09-30 0000773840 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-12-31 0000773840 hon:OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesMember 2018-01-01 2018-09-30 0000773840 us-gaap:AccumulatedTranslationAdjustmentMember 2018-01-01 2018-09-30 0000773840 us-gaap:AccumulatedTranslationAdjustmentMember 2017-12-31 0000773840 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-01-01 2018-09-30 0000773840 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2017-12-31 0000773840 us-gaap:AccumulatedTranslationAdjustmentMember 2018-09-30 0000773840 hon:OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesMember 2018-09-30 0000773840 hon:OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesMember 2017-12-31 0000773840 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:HomeAndBuildingTechnologiesMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:PerformanceMaterialsAndTechnologiesMember 2018-01-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:SafetyAndProductivitySolutionsMember 2019-01-01 2019-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:SafetyAndProductivitySolutionsMember 2018-01-01 2018-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember us-gaap:PensionPlansDefinedBenefitMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:AerospaceMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:SafetyAndProductivitySolutionsMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:AerospaceMember 2019-07-01 2019-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:PerformanceMaterialsAndTechnologiesMember 2019-07-01 2019-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember us-gaap:PensionPlansDefinedBenefitMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:AerospaceMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:HomeAndBuildingTechnologiesMember 2018-01-01 2018-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:AerospaceMember 2019-07-01 2019-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:PerformanceMaterialsAndTechnologiesMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:SafetyAndProductivitySolutionsMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:AerospaceMember 2018-01-01 2018-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-01-01 2018-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:HomeAndBuildingTechnologiesMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:SafetyAndProductivitySolutionsMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:AerospaceMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:HomeAndBuildingTechnologiesMember 2018-01-01 2018-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember 2018-01-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:SafetyAndProductivitySolutionsMember 2018-01-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:AerospaceMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:SafetyAndProductivitySolutionsMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:SafetyAndProductivitySolutionsMember 2018-01-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:HomeAndBuildingTechnologiesMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:AerospaceMember 2018-01-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:AerospaceMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:PerformanceMaterialsAndTechnologiesMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2018-01-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:HomeAndBuildingTechnologiesMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:AerospaceMember 2018-01-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:SafetyAndProductivitySolutionsMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:AerospaceMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:PerformanceMaterialsAndTechnologiesMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:HomeAndBuildingTechnologiesMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:PerformanceMaterialsAndTechnologiesMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:HomeAndBuildingTechnologiesMember 2018-01-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:PerformanceMaterialsAndTechnologiesMember 2018-01-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:SafetyAndProductivitySolutionsMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:PerformanceMaterialsAndTechnologiesMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:SafetyAndProductivitySolutionsMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:HomeAndBuildingTechnologiesMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:SafetyAndProductivitySolutionsMember 2018-07-01 2018-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2019-07-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:PerformanceMaterialsAndTechnologiesMember 2018-07-01 2018-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember us-gaap:PensionPlansDefinedBenefitMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:AerospaceMember 2018-07-01 2018-09-30 0000773840 us-gaap:MaterialReconcilingItemsMember us-gaap:PensionPlansDefinedBenefitMember 2018-01-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ServicesMember hon:HomeAndBuildingTechnologiesMember 2018-07-01 2018-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:HomeAndBuildingTechnologiesMember 2019-01-01 2019-09-30 0000773840 us-gaap:OperatingSegmentsMember hon:ProductsMember hon:HomeAndBuildingTechnologiesMember 2019-07-01 2019-09-30 0000773840 country:US 2018-07-01 2018-09-30 0000773840 country:US 2019-01-01 2019-09-30 0000773840 country:US 2019-07-01 2019-09-30 0000773840 country:US 2018-01-01 2018-09-30 0000773840 us-gaap:ForeignPlanMember 2019-01-01 2019-09-30 0000773840 us-gaap:ForeignPlanMember 2019-07-01 2019-09-30 0000773840 us-gaap:ForeignPlanMember 2018-07-01 2018-09-30 0000773840 us-gaap:ForeignPlanMember 2018-01-01 2018-09-30 0000773840 hon:PrebankruptcyNarcoLiabilityMember 2002-12-31 0000773840 hon:SaleOfLegacyPropertyMember 2019-01-01 2019-09-30 0000773840 hon:BendixAsbestosLossContingencyLiabilityMember hon:GarrettMember 2019-09-30 0000773840 hon:NarcoAsbestosLossContingencyLiabilityMember 2019-09-30 0000773840 srt:MinimumMember hon:UnitedAutoWorkersMember 2019-01-01 2019-09-30 0000773840 hon:NarcoAsbestosLossContingencyLiabilityMember 2002-12-31 0000773840 hon:NarcoTrustLiabilityMember 2013-12-31 0000773840 srt:MaximumMember hon:NarcoAsbestosLossContingencyLiabilityMember 2006-12-31 0000773840 hon:NarcoAsbestosLossContingencyLiabilityMember 2006-12-31 0000773840 hon:NarcoTrustLiabilityMember 2002-12-31 0000773840 hon:PrebankruptcyNarcoLiabilityMember 2019-09-30 0000773840 hon:EnvironmentalLiabilitiesMember hon:ResideoMember 2019-09-30 0000773840 hon:NarcoTrustLiabilityMember 2019-09-30 0000773840 srt:MinimumMember hon:NarcoAsbestosLossContingencyLiabilityMember 2006-12-31 0000773840 hon:OtherNarcoBankruptcyRelatedObligationsMember 2002-12-31 0000773840 hon:BendixAsbestosLossContingencyLiabilityMember 2019-09-30 0000773840 hon:NarcoAsbestosLossContingencyLiabilityMember 2019-01-01 2019-09-30 0000773840 hon:BendixAsbestosLossContingencyLiabilityMember 2018-12-31 0000773840 hon:BendixAsbestosLossContingencyLiabilityMember 2019-01-01 2019-09-30 0000773840 hon:NarcoAsbestosLossContingencyLiabilityMember 2018-12-31 0000773840 hon:AsbestosRelatedLiabilitiesMember 2019-01-01 2019-09-30 0000773840 hon:AsbestosRelatedLiabilitiesMember 2018-12-31 0000773840 hon:AsbestosRelatedLiabilitiesMember 2019-09-30 0000773840 hon:BendixAsbestosLossContingencyLiabilityMember 2017-12-31 0000773840 hon:BendixAsbestosLossContingencyLiabilityMember 2016-12-31 0000773840 hon:BendixAsbestosLossContingencyLiabilityMember 2017-01-01 2017-12-31 0000773840 hon:BendixAsbestosLossContingencyLiabilityMember 2018-01-01 2018-12-31 0000773840 2015-01-01 2015-12-31 0000773840 2016-01-01 2016-12-31 0000773840 2017-01-01 2017-12-31 0000773840 2018-01-01 2018-12-31 0000773840 2014-01-01 2014-12-31 0000773840 hon:BendixAsbestosLossContingencyLiabilityMember hon:GarrettMember 2019-01-01 2019-09-30 0000773840 hon:EnvironmentalLiabilitiesMember hon:ResideoMember 2019-01-01 2019-09-30 0000773840 hon:UnitedAutoWorkersMember 2019-01-01 2019-09-30 xbrli:pure iso4217:USD xbrli:shares hon:employee iso4217:USD xbrli:shares iso4217:USD hon:claims hon:claim
United States
Securities and Exchange Commission
Washington, D.C. 20549
Form 10-Q
__________________
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2019
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to _____
Commission file number 1-8974

Honeywell International Inc.
(Exact name of registrant as specified in its charter)

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)
 
Securities registered pursuant to Section 12(b) of the Act:
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
* The common stock is also listed on the London Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x  No o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x  No o
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):
Large Accelerated Filer
x
Accelerated filer
Non-Accelerated filer
Smaller reporting company
 
 
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to section 13(a) of the Exchange Act.
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes   No x
There were 714,533,499 shares of Common Stock outstanding at September 30, 2019.





Honeywell International Inc.
Index
 
Page No.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cautionary Statement about Forward-Looking Statements
 
This report contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future. They are based on management’s assumptions and assessments in the light of past experience and trends, current economic and industry conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. These forward-looking statements should be considered in the light of the information included in this report and our other filings with the Securities and Exchange Commission, including, without limitation, the Risk Factors, as well as the description of trends and other factors in Management’s Discussion and Analysis of Financial Condition and Results of Operations, set forth in our 2018 Annual Report on Form 10-K.


2





PART I. FINANCIAL INFORMATION
 
The financial statements and related footnotes as of September 30, 2019 should be read in conjunction with the financial statements for the year ended December 31, 2018 contained in our 2018 Annual Report on Form 10-K.
 
ITEM 1. FINANCIAL STATEMENTS
 

Honeywell International Inc.
Consolidated Statement of Operations
(Unaudited)
 
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

 
The Notes to Consolidated Financial Statements are an integral part of this statement.

3





Honeywell International Inc.
Consolidated Statement of Comprehensive Income
(Unaudited)
 
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

 
The Notes to Consolidated Financial Statements are an integral part of this statement.

4





Honeywell International Inc.
Consolidated Balance Sheet
(Unaudited)
 
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

 
The Notes to Consolidated Financial Statements are an integral part of this statement.

5





Honeywell International Inc.
Consolidated Statement of Cash Flows
(Unaudited)
 
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

 
The Notes to Consolidated Financial Statements are an integral part of this statement.

6





Honeywell International Inc.
Consolidated Statement of Shareowners' Equity
(Unaudited)
 
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

Notes to Consolidated Financial Statements are an integral part of this statement.

7


Honeywell International Inc.
Notes to Consolidated Financial Statements
(Unaudited)
(Dollars in millions, except per share amounts)



Note 1. Basis of Presentation
 
In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position of Honeywell International Inc. and its consolidated subsidiaries (“Honeywell” or “the Company”) at September 30, 2019 and December 31, 2018, the cash flows for the nine months ended September 30, 2019 and 2018 and the results of operations for the three and nine months ended September 30, 2019 and 2018. The results of operations for the three and nine months ended September 30, 2019 and cash flows for the nine months ended September 30, 2019 should not necessarily be taken as indicative of the entire year.
 
We report our quarterly financial information using a calendar convention; the first, second and third quarters are consistently reported as ending on March 31, June 30 and September 30. It has been our practice to establish actual quarterly closing dates using a predetermined fiscal calendar, which requires our businesses to close their books on a Saturday in order to minimize the potentially disruptive effects of quarterly closing on our business processes. The effects of this practice are generally not significant to reported results for any quarter and only exist within a reporting year. In the event that differences in actual closing dates are material to year-over-year comparisons of quarterly or year-to-date results, we will provide appropriate disclosures. Our actual closing dates for the three and nine months ended September 30, 2019 and 2018 were September 28, 2019 and September 29, 2018.

On October 1, 2018, the Company completed the tax-free spin-off to Honeywell shareowners of its Transportation Systems business, previously part of Aerospace, into a standalone publicly-traded company, Garrett Motion Inc. (“Garrett”). On October 29, 2018, the Company completed the tax-free spin-off to Honeywell shareowners of its Homes and Global Distribution business, previously part of Home and Building Technologies (renamed Honeywell Building Technologies following the spin-off), into a standalone publicly-traded company, Resideo Technologies, Inc. (“Resideo”). The assets and liabilities associated with Garrett and Resideo have been removed from the Company’s Consolidated Balance Sheet as of the effective dates of the respective spin-offs. The results of operations for Garrett and Resideo are included in the Consolidated Statement of Operations through the effective dates of the respective spin-offs.
 
Note 2. Summary of Significant Accounting Policies
 
The accounting policies of the Company are set forth in Note 1 to Consolidated Financial Statements contained in the Company’s 2018 Annual Report on Form 10-K. We include herein certain updates to those policies.
 
Reclassifications—Certain prior year amounts have been reclassified to conform to the current year presentation.
 
Leases—At the inception of a contract, we assess whether the contract is, or contains, a lease. The assessment is based on (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether the Company has the right to direct the use of the asset.

All significant lease arrangements are generally recognized at lease commencement. Operating lease right-of-use (“ROU”) assets and lease liabilities are recognized at commencement. An ROU asset and corresponding lease liability are not recorded for leases with an initial term of 12 months or less (short term leases) and we recognize lease expense for these leases as incurred over the lease term.
 
ROU assets represent our right to use an underlying asset during the reasonably certain lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.

Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Lease payments may be fixed or variable, however, only fixed payments or in-substance fixed payments are included in determining the lease liability. Variable lease payments are recognized in operating expenses in the period in which the obligation for those payments are incurred. The operating lease ROU

8


Honeywell International Inc.
Notes to Consolidated Financial Statements
(Unaudited)
(Dollars in millions, except per share amounts)


asset also includes any lease payments related to initial direct cost and prepayments and excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components, which are generally accounted for separately.

We primarily use our incremental borrowing rate, which is based on the information available at the lease commencement date, in determining the present value of the lease payments. In determining the borrowing rate, we consider the lease term, secured incremental borrowing rate, and for leases denominated in a currency different than U.S. dollar, the collateralized borrowing rate in the foreign currency using the U.S. dollar and foreign currency swap spread, when available.

Recent Accounting Pronouncements—We consider the applicability and impact of all Accounting Standards Updates (ASUs) issued by the Financial Accounting Standards Board (FASB). ASUs not yet adopted that are not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated result of operations, financial position and cash flows.

In February 2018, the FASB issued guidance that allows for an entity to elect to reclassify from accumulated other comprehensive income to retained earnings the income tax effects on items resulting from what is commonly referred to as the U.S. Tax Cuts and Jobs Act (“U.S. Tax Reform”). The guidance is effective for fiscal years beginning after December 15, 2018 with early adoption permitted, including interim periods within those years. The Company has elected to not reclassify the stranded income tax effects of U.S. Tax Reform from accumulated other comprehensive income to retained earnings.
 
Note 3. Repositioning and Other Charges
 
A summary of repositioning and other charges follows:
 
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



The following table summarizes the pretax distribution of total net repositioning and other charges by classification:
 
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




9


Honeywell International Inc.
Notes to Consolidated Financial Statements
(Unaudited)
(Dollars in millions, except per share amounts)


The following table summarizes the pretax impact of total net repositioning and other charges by segment:
 
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


 
In the quarter ended September 30, 2019, we recognized gross repositioning charges totaling $89 million including severance costs of $41 million related to workforce reductions of 1,123 manufacturing and administrative positions across our segments. The workforce reductions were primarily related to cost savings actions taken in connection with our productivity and ongoing functional transformation initiatives. The repositioning charges included exit costs of $33 million primarily related to termination fees associated with the early cancellation of supply agreements for certain raw materials in Performance Materials and Technologies and Honeywell Building Technologies and current period exit costs incurred for previously approved repositioning projects.
    
In the quarter ended September 30, 2018, we recognized gross repositioning charges totaling $73 million including severance costs of $39 million related to workforce reductions of 816 manufacturing and administrative positions across our segments. The workforce reductions were primarily related to site transitions, mainly in Safety and Productivity Solutions and Performance Materials and Technologies, to more cost-effective locations. The repositioning charges included asset impairments of $26 million primarily due to the write-off of certain capitalized assets in Corporate and manufacturing equipment associated with a site transition in Performance Materials and Technologies.

In the nine months ended September 30, 2019, we recognized gross repositioning charges totaling $235 million including severance costs of $147 million related to workforce reductions of 3,436 manufacturing and administrative positions across our segments. The workforce reductions were primarily related to cost savings actions taken in connection with our productivity and ongoing functional transformation initiatives and to site transitions in Aerospace to more cost-effective locations. The repositioning charges included exit costs of $62 million primarily related to current period exit costs incurred for previously approved repositioning projects, termination fees associated with the early cancellation of supply agreements for certain raw materials in Performance Materials and Technologies and Honeywell Building Technologies and closure obligations associated with site transitions.

In the nine months ended September 30, 2018, we recognized gross repositioning charges totaling $222 million including severance costs of $100 million related to workforce reductions of 2,700 manufacturing and administrative positions across our segments. The workforce reductions were primarily related to site transitions, mainly in Safety and Productivity Solutions, Performance Materials and Technologies and Aerospace, to more cost-effective locations and to cost savings actions taken in connection with our productivity and ongoing functional transformation initiatives. The repositioning charges included asset impairments of $74 million primarily related to the write-down of a legacy property in Corporate in connection with its planned disposition, and the write-off of certain capitalized assets in Corporate and manufacturing equipment associated with a site transition in Performance Materials and Technologies. The repositioning charges included exit costs of $48 million primarily related to a termination fee associated with the early cancellation of a supply agreement for certain raw materials in Performance Materials and Technologies.


10


Honeywell International Inc.
Notes to Consolidated Financial Statements
(Unaudited)
(Dollars in millions, except per share amounts)


The following table summarizes the status of our total repositioning reserves:
 
Severance
Costs
 
Asset
Impairments
 
Exit
Costs
 
Total
December 31, 2018
$
489

 
$

 
$
77

 
$
566

Charges
147

 
26

 
62

 
235

Usage - cash
(122
)
 

 
(