SEGMENT FINANCIAL DATA

9 Months Ended

Sep. 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 the realignment of its Transportation Systems business segment with its Aerospace business segment. Under the realigned segment reporting structure, the Company has three business segments: Aerospace, Automation and Control Solutions and Performance Materials and Technologies. Effective with the quarter ended September 30, 2014, the Company has reported its financial performance based on the inclusion of Transportation Systems in Aerospace.

These realignments have no impact on the Company's historical consolidated financial position, results of operations or cash flows.

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Net Sales
Aerospace
Products	$	2,658	$	2,648	$	8,170	$	7,982
Services		1,237		1,241		3,586		3,676
Total		3,895		3,889		11,756		11,658
Automation and Control Solutions
Products		3,351		3,076		9,713		8,833
Services		320		299		927		891
Total		3,671		3,375		10,640		9,724
Performance Materials and Technologies
Products		2,081		1,969		6,330		6,096
Services		461		414		1,314		1,190
Total		2,542		2,383		7,644		7,286
	$	10,108	$	9,647	$	30,040	$	28,668
Segment Profit
Aerospace	$	790	$	730	$	2,252	$	2,101
Automation and Control Solutions		583		523		1,587		1,413
Performance Materials and Technologies		444		413		1,392		1,325
Corporate		(58)		(51)		(167)		(157)
Total segment profit		1,759		1,615		5,064		4,682
Other income (expense)(a)		11		(10)		132		22
Interest and other financial charges		(77)		(80)		(236)		(244)
Stock compensation expense(b)		(41)		(38)		(143)		(129)
Pension ongoing income(b)		62		22		187		68
Other postretirement (expense) income(b)		(12)		(5)		(37)		(7)
Repositioning and other charges (b)		(122)		(120)		(453)		(419)
Income before taxes	$	1,580	$	1,384	$	4,514	$	3,973
(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.