SEGMENT FINANCIAL DATA

6 Months Ended

Jun. 30, 2014

Segment Financial Data [Abstract]

Segment Financial Data

Note15. Segment Financial Data

Honeywell's senior management evaluates segment performance based on segment profit. Segment profit is measured as business unit income (loss) before taxes excluding general corporate unallocated expense, other income (expense), interest and other financial charges, pension and other postretirement income (expense), stock compensation expense, repositioning and other charges and accounting changes.

In April 2014, the Company announced the realignment of our Honeywell Process Solutions business from Automation and Control Solutions into Performance Materials and Technologies. Effective with the quarter ended June 30, 2014, the Company has reported its financial performance based on the inclusion of Honeywell Process Solutions in Performance Materials and Technologies.

In July 2014, following the closing of the sale of its Friction Materials business, the Company announced that it will realign its Transportation Systems business segment with its Aerospace business segment. Under the realigned segment reporting structure, the Company will have three business segments: Aerospace, Automation and Control Solutions and Performance Materials and Technologies. This realignment has no impact on the Company's historical consolidated financial position, results of operations or cash flows. Effective with the reporting of third quarter 2014 results, the Company will report its financial performance based on the inclusion of Transportation Systems in Aerospace.

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
Net Sales
Aerospace
Products	$	1,801	$	1,767	$	3,500	$	3,473
Services		1,190		1,230		2,349		2,435
Total		2,991		2,997		5,849		5,908
Automation and Control Solutions
Products		3,287		2,963		6,362		5,757
Services		320		307		607		592
Total		3,607		3,270		6,969		6,349
Performance Materials and Technologies
Products		2,171		2,067		4,249		4,127
Services		465		412		853		776
Total		2,636		2,479		5,102		4,903
Transportation Systems
Products		1,019		947		2,012		1,861
Services		-		-		-		-
Total		1,019		947		2,012		1,861
	$	10,253	$	9,693	$	19,932	$	19,021
Segment Profit
Aerospace	$	592	$	583	$	1,141	$	1,134
Automation and Control Solutions		533		467		1,004		890
Performance Materials and Technologies		475		438		948		912
Transportation Systems		167		126		321		237
Corporate		(58)		(55)		(109)		(106)
Total segment profit		1,709		1,559		3,305		3,067
Other income (expense)(a)		10		13		121		32
Interest and other financial charges		(80)		(80)		(159)		(164)
Stock compensation expense(b)		(50)		(37)		(102)		(91)
Pension ongoing income(b)		64		25		125		46
Other postretirement (expense) income(b)		(13)		20		(25)		(2)
Repositioning and other charges (b)		(117)		(171)		(331)		(299)
Income before taxes	$	1,523	$	1,329	$	2,934	$	2,589
(a) Equity income (loss) of affiliated companies is included in segment profit.
(b) Amounts included in cost of products and services sold and selling, general and administrative expenses.