Attached files
| file | filename |
|---|---|
| 8-K - HONEYWELL INTERNATIONAL INC | c92180_8k.htm |
Exhibit 99
Honeywell International Inc.
Consolidated Statement of Operations
(Unaudited)
| Year Ended December 31, 2017 | ||||||||||||
| (Dollars in millions, except per share amounts) | ||||||||||||
| As Reported | Adjustments | As Revised | ||||||||||
| Product sales | $ | 32,317 | $ | - | $ | 32,317 | ||||||
| Service sales | 8,217 | - | 8,217 | |||||||||
| Net sales | 40,534 | - | 40,534 | |||||||||
| Costs, expenses and other | ||||||||||||
| Costs of products sold | 22,659 | 517 | 23,176 | |||||||||
| Costs of services sold | 4,916 | 52 | 4,968 | |||||||||
| 27,575 | 569 | 28,144 | ||||||||||
| Selling, general and administrative expenses | 5,808 | 279 | 6,087 | |||||||||
| Other (income) expense | (67 | ) | (896 | ) | (963 | ) | ||||||
| Interest and other financial charges | 316 | - | 316 | |||||||||
| 33,632 | (48 | ) | 33,584 | |||||||||
| Income before taxes | 6,902 | 48 | 6,950 | |||||||||
| Tax expense | 5,204 | 158 | 5,362 | |||||||||
| Net income | 1,698 | (110 | ) | 1,588 | ||||||||
| Less: Net income attributable to noncontrolling interest | 43 | - | 43 | |||||||||
| Net income attributable to Honeywell | $ | 1,655 | $ | (110 | ) | $ | 1,545 | |||||
| Earnings per share of common stock-basic | $ | 2.17 | $ | (0.14 | ) | $ | 2.03 | |||||
| Earnings per share of common stock-assuming dilution | $ | 2.14 | $ | (0.14 | ) | $ | 2.00 | |||||
Honeywell International Inc.
Consolidated Statement of Operations
(Unaudited)
| Year Ended December 31, 2016 | ||||||||||||
| (Dollars in millions, except per share amounts) | ||||||||||||
| As Reported | Adjustments | As Revised | ||||||||||
| Product sales | $ | 31,362 | $ | - | $ | 31,362 | ||||||
| Service sales | 7,940 | - | 7,940 | |||||||||
| Net sales | 39,302 | - | 39,302 | |||||||||
| Costs, expenses and other | ||||||||||||
| Costs of products sold | 22,170 | 442 | 22,612 | |||||||||
| Costs of services sold | 4,980 | 85 | 5,065 | |||||||||
| 27,150 | 527 | 27,677 | ||||||||||
| Selling, general and administrative expenses | 5,469 | 105 | 5,574 | |||||||||
| Other (income) expense | (102 | ) | (637 | ) | (739 | ) | ||||||
| Interest and other financial charges | 338 | - | 338 | |||||||||
| 32,855 | (5 | ) | 32,850 | |||||||||
| Income before taxes | 6,447 | 5 | 6,452 | |||||||||
| Tax expense | 1,601 | 2 | 1,603 | |||||||||
| Net income | 4,846 | 3 | 4,849 | |||||||||
| Less: Net income attributable to noncontrolling interest | 37 | - | 37 | |||||||||
| Net income attributable to Honeywell | $ | 4,809 | $ | 3 | $ | 4,812 | ||||||
| Earnings per share of common stock-basic | $ | 6.29 | $ | 0.01 | $ | 6.30 | ||||||
| Earnings per share of common stock-assuming dilution | $ | 6.20 | $ | 0.01 | $ | 6.21 | ||||||
| 2 |
Honeywell International Inc.
Consolidated Statement of Operations
(Unaudited)
| Year Ended December 31, 2015 | ||||||||||||
| (Dollars in millions, except per share amounts) | ||||||||||||
| As Reported | Adjustments | As Revised | ||||||||||
| Product sales | $ | 30,695 | $ | - | $ | 30,695 | ||||||
| Service sales | 7,886 | - | 7,886 | |||||||||
| Net sales | 38,581 | - | 38,581 | |||||||||
| Costs, expenses and other | ||||||||||||
| Costs of products sold | 21,775 | 354 | 22,129 | |||||||||
| Costs of services sold | 4,972 | 68 | 5,040 | |||||||||
| 26,747 | 422 | 27,169 | ||||||||||
| Selling, general and administrative expenses | 5,006 | 205 | 5,211 | |||||||||
| Other (income) expense | (68 | ) | (634 | ) | (702 | ) | ||||||
| Interest and other financial charges | 310 | - | 310 | |||||||||
| 31,995 | (7 | ) | 31,988 | |||||||||
| Income before taxes | 6,586 | 7 | 6,593 | |||||||||
| Tax expense | 1,739 | 4 | 1,743 | |||||||||
| Net income | 4,847 | 3 | 4,850 | |||||||||
| Less: Net income attributable to noncontrolling interest | 79 | - | 79 | |||||||||
| Net income attributable to Honeywell | $ | 4,768 | $ | 3 | $ | 4,771 | ||||||
| Earnings per share of common stock-basic | $ | 6.11 | $ | 0.01 | $ | 6.12 | ||||||
| Earnings per share of common stock-assuming dilution | $ | 6.04 | $ | - | $ | 6.04 | ||||||
| 3 |
Honeywell International Inc.
Consolidated Balance Sheet
(Unaudited)
| December 31, 2017 | December 31, 2016 | |||||||||||||||||||||||
| (Dollars in millions) | ||||||||||||||||||||||||
| As Reported | Adjustments | As Revised | As Reported | Adjustments | As Revised | |||||||||||||||||||
| ASSETS | ||||||||||||||||||||||||
| Current assets: | ||||||||||||||||||||||||
| Cash and cash equivalents | $ | 7,059 | $ | - | $ | 7,059 | $ | 7,843 | $ | - | $ | 7,843 | ||||||||||||
| Short-term investments | 3,758 | - | 3,758 | 1,520 | - | 1,520 | ||||||||||||||||||
| Accounts receivable - net | 8,866 | - | 8,866 | 8,177 | - | 8,177 | ||||||||||||||||||
| Inventories | 4,613 | - | 4,613 | 4,366 | - | 4,366 | ||||||||||||||||||
| Other current assets | 1,706 | - | 1,706 | 1,152 | - | 1,152 | ||||||||||||||||||
| Total current assets | 26,002 | - | 26,002 | 23,058 | - | 23,058 | ||||||||||||||||||
| Investments and long-term receivables | 667 | - | 667 | 587 | - | 587 | ||||||||||||||||||
| Property, plant and equipment - net | 5,926 | - | 5,926 | 5,793 | - | 5,793 | ||||||||||||||||||
| Goodwill | 18,277 | - | 18,277 | 17,707 | - | 17,707 | ||||||||||||||||||
| Other intangible assets - net | 4,496 | - | 4,496 | 4,634 | - | 4,634 | ||||||||||||||||||
| Insurance recoveries for asbestos related liabilities | 411 | 68 | 479 | 417 | 80 | 497 | ||||||||||||||||||
| Deferred income taxes | 236 | 15 | 251 | 347 | 340 | 687 | ||||||||||||||||||
| Other assets | 3,372 | - | 3,372 | 1,603 | - | 1,603 | ||||||||||||||||||
| Total assets | $ | 59,387 | $ | 83 | $ | 59,470 | $ | 54,146 | $ | 420 | $ | 54,566 | ||||||||||||
| LIABILITIES | ||||||||||||||||||||||||
| Current liabilities: | ||||||||||||||||||||||||
| Accounts payable | 6,584 | - | 6,584 | 5,690 | - | 5,690 | ||||||||||||||||||
| Commercial paper and other short-term borrowings | 3,958 | - | 3,958 | 3,366 | - | 3,366 | ||||||||||||||||||
| Current maturities of long-term debt | 1,351 | - | 1,351 | 227 | - | 227 | ||||||||||||||||||
| Accrued liabilities | 6,968 | - | 6,968 | 7,048 | - | 7,048 | ||||||||||||||||||
| Total current liabilities | 18,861 | - | 18,861 | 16,331 | - | 16,331 | ||||||||||||||||||
| Long-term debt | 12,573 | - | 12,573 | 12,182 | - | 12,182 | ||||||||||||||||||
| Deferred income taxes | 2,894 | (230 | ) | 2,664 | 486 | (64 | ) | 422 | ||||||||||||||||
| Postretirement benefit obligations other than pensions | 512 | - | 512 | 473 | - | 473 | ||||||||||||||||||
| Asbestos related liabilities | 1,173 | 1,087 | 2,260 | 1,014 | 1,148 | 2,162 | ||||||||||||||||||
| Other liabilties | 5,930 | - | 5,930 | 4,110 | - | 4,110 | ||||||||||||||||||
| Redeemable noncontrolling interest | 5 | - | 5 | 3 | - | 3 | ||||||||||||||||||
| SHAREOWNERS' EQUITY | ||||||||||||||||||||||||
| Capital – common stock issued | 958 | - | 958 | 958 | - | 958 | ||||||||||||||||||
| – additional paid–in capital | 6,212 | - | 6,212 | 5,781 | - | 5,781 | ||||||||||||||||||
| Common stock held in treasury, at cost | (15,914 | ) | - | (15,914 | ) | (13,366 | ) | - | (13,366 | ) | ||||||||||||||
| Accumulated other comprehensive loss | (2,235 | ) | - | (2,235 | ) | (2,714 | ) | - | (2,714 | ) | ||||||||||||||
| Retained earnings | 28,255 | (774 | ) | 27,481 | 28,710 | (664 | ) | 28,046 | ||||||||||||||||
| Total Honeywell shareowners’ equity | 17,276 | (774 | ) | 16,502 | 19,369 | (664 | ) | 18,705 | ||||||||||||||||
| Noncontrolling interest | 163 | - | 163 | 178 | - | 178 | ||||||||||||||||||
| Total shareowners’ equity | 17,439 | (774 | ) | 16,665 | 19,547 | (664 | ) | 18,883 | ||||||||||||||||
| Total liabilities, redeemable noncontrolling interest and shareowners' equity | $ | 59,387 | $ | 83 | $ | 59,470 | $ | 54,146 | $ | 420 | $ | 54,566 | ||||||||||||
| 4 |