SEGMENT FINANCIAL DATA

12 Months Ended

Dec. 31, 2014

Segment Financial Data [Abstract]

Segment Financial Data

Note21. Segment Financial Data

We globally manage our business operations through three reportable operating 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. 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 benefits (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. The Company has reported its financial performance based on the inclusion of Honeywell Process Solutions in Performance Materials and Technologies for all periods presented.

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. The Company has reported its financial performance based on the inclusion of Transportation Systems in Aerospace for all periods presented.

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

		Years Ended December 31,
Net Sales		2014		2013		2012
Aerospace
Product	$	10,773	$	10,798	$	10,560
Service		4,825		4,937		5,041
Total		15,598		15,735		15,601
Automation and Control Solutions
Product		13,219		12,253		11,581
Service		1,268		1,212		1,206
Total		14,487		13,465		12,787
Performance Materials and Technologies
Product		8,406		8,163		7,671
Service		1,815		1,692		1,606
Total		10,221		9,855		9,277
	$	40,306	$	39,055	$	37,665
Depreciation and amortization
Aerospace	$	277	$	290	$	296
Automation and Control Solutions		306		302		302
Performance Materials and Technologies		284		336		265
Corporate		57		61		63
	$	924	$	989	$	926
Segment Profit
Aerospace	$	2,915	$	2,870	$	2,711
Automation and Control Solutions		2,200		1,983		1,836
Performance Materials and Technologies		1,817		1,725		1,550
Corporate		(236)		(227)		(218)
	$	6,696	$	6,351	$	5,879
Capital expenditures
Aerospace	$	315	$	310	$	320
Automation and Control Solutions		145		132		114
Performance Materials and Technologies		537		448		357
Corporate		97		57		93
	$	1,094	$	947	$	884
		December 31,
Total Assets		2014		2013		2012
Aerospace	$	11,151	$	11,379	$	11,024
Automation and Control Solutions		17,191		17,675		15,996
Performance Materials and Technologies		9,699		9,534		9,154
Corporate		7,410		6,847		5,679
	$	45,451	$	45,435	$	41,853

A reconciliation of segment profit to consolidated income from continuing operations before taxes are as follows:
		Years Ended December 31,
		2014		2013		2012
Segment Profit	$	6,696	$	6,351	$	5,879
Other income (expense)(1)		269		202		25
Interest and other financial charges		(318)		(327)		(351)
Stock compensation expense(2)		(187)		(170)		(170)
Pension ongoing income (expense)(2)		254		90		(36)
Pension mark-to-market expense(2)		(249)		(51)		(957)
Other postretirement income (expense)(2)		(49)		(20)		(72)
Repositioning and other charges (2)		(598)		(663)		(443)
Income from continuing operations before taxes	$	5,818	$	5,412	$	3,875
(1) Equity income (loss) of affiliated companies is included in Segment Profit.
(2) Amounts included in cost of products and services sold and selling, general and administrative
expenses.