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SEGMENT FINANCIAL DATA
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENT FINANCIAL DATA SEGMENT FINANCIAL DATA
Honeywell globally manages its business operations through four reportable business segments. Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions, and assesses operating performance.
Honeywell’s senior management evaluates segment performance based on segment profit. Each segment’s profit is measured as segment income (loss) before taxes excluding general corporate unallocated expense, interest and other financial charges, stock compensation expense, pension and other postretirement income (expense), repositioning and other charges, and other items within Other (income) expense.
In October 2023, the Company announced a realignment, effective in the first quarter of 2024, of its business units comprising its Performance Materials and Technologies, and Safety and Productivity Solutions reportable business segments by forming two new reportable business segments: Industrial Automation, and Energy and Sustainability Solutions. Industrial Automation will include Sensing and Safety Technologies, Productivity Solutions and Services, and Warehouse and Workflow Solutions, which are currently included in Safety and Productivity Solutions, in addition to Process Solutions, which is currently included in Performance Materials and Technologies. Energy and Sustainability Solutions will include UOP and Advanced Materials, which are currently included in Performance Materials and Technologies. Further, as part of the realignment, the Company will rename its Aerospace and Honeywell Building Technologies reportable business segments to Aerospace Technologies and Building Automation, respectively. Following the realignment, the Company’s reportable business segments will be Aerospace Technologies, Industrial Automation, Building Automation, and Energy and Sustainability Solutions. The realignment will not impact the Company’s historical consolidated financial position, results of operations, or cash flows. The Company expects to report its financial performance based on this realignment effective with the first quarter of 2024.
 Years Ended December 31,
202320222021
Net sales
Aerospace
Products$7,316 $6,330 $6,158 
Services6,308 5,497 4,868 
Net Aerospace sales13,624 11,827 11,026 
Honeywell Building Technologies
Products4,599 4,591 4,098 
Services1,432 1,409 1,441 
Net Honeywell Building Technologies sales6,031 6,000 5,539 
Performance Materials and Technologies
Products8,916 8,593 8,008 
Services2,590 2,134 2,005 
Net Performance Materials and Technologies sales11,506 10,727 10,013 
Safety and Productivity Solutions
Products4,942 6,446 7,379 
Services547 461 435 
Net Safety and Productivity Solutions sales5,489 6,907 7,814 
Corporate and All Other
Services12 5 — 
Net Corporate and All Other sales12 5 — 
 Net sales$36,662 $35,466 $34,392 
Depreciation and amortization
Aerospace$267 $285 $278 
Honeywell Building Technologies107 92 67 
Performance Materials and Technologies468 478 454 
Safety and Productivity Solutions171 191 237 
Corporate and All Other163 158 102 
Total depreciation and amortization$1,176 $1,204 $1,138 
Segment profit
Aerospace$3,741 $3,228 $3,051 
Honeywell Building Technologies1,505 1,439 1,238 
Performance Materials and Technologies2,549 2,354 2,120 
Safety and Productivity Solutions901 1,080 1,029 
Corporate and All Other(392)(412)(226)
Total segment profit$8,304 $7,689 $7,212 
 Years Ended December 31,
202320222021
Capital expenditures
Aerospace$310 $246 $284 
Honeywell Building Technologies79 74 62 
Performance Materials and Technologies462 318 265 
Safety and Productivity Solutions106 50 190 
Corporate and All Other82 78 94 
Total capital expenditures$1,039 $766 $895 
Years Ended December 31,
20232022
Total assets
Aerospace$12,976 $12,189 
Honeywell Building Technologies6,723 6,599 
Performance Materials and Technologies19,732 17,887 
Safety and Productivity Solutions10,342 10,892 
Corporate and All Other11,752 14,708 
Total assets$61,525 $62,275 
A reconciliation of segment profit to consolidated income before taxes are as follows:
 Years Ended December 31,
202320222021
Segment profit$8,304 $7,689 $7,212 
Interest and other financial charges(765)(414)(343)
Interest income321 138 102 
Stock compensation expense1
(202)(188)(217)
Pension ongoing income2
528 993 1,083 
Pension mark-to-market expense(153)(523)(40)
Other postretirement income2
29 41 71 
Repositioning and other charges3
(860)(1,266)(569)
Other expense4
(43)(91)(64)
Income before taxes$7,159 $6,379 $7,235 
1
Amounts included in Selling, general and administrative expenses.
2
Amounts included in Cost of products and services sold (service cost component), Selling, general and administrative expenses (service cost component), Research and development expenses (service cost component), and Other (income) expense (non-service cost component).
3
Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other (income) expense.
4
Amounts include the other components of Other (income) expense not included within other categories in this reconciliation. Equity income of affiliated companies is included in segment profit.