HONEYWELL INTERNATIONAL INC
For the period ended Mar 31, 2025. Filed Apr 29, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed Apr 29, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2025
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to _____
Commission file number 1-8974
Honeywell International Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 22-2640650 | |
|---|---|---|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification No.) | |
| 855 South Mint Street | 28202 | |
| Charlotte, | North Carolina | |
| (Address of principal executive offices) | (Zip Code) |
| (704) | 627-6200 |
| (Registrant’s telephone number, including area code) | |
|---|---|
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $1 per share | HON | The Nasdaq Stock Market LLC |
| 3.500% Senior Notes due 2027 | HON 27 | The Nasdaq Stock Market LLC |
| 2.250% Senior Notes due 2028 | HON 28A | The Nasdaq Stock Market LLC |
| 3.375% Senior Notes due 2030 | HON 30 | The Nasdaq Stock Market LLC |
| 0.750% Senior Notes due 2032 | HON 32 | The Nasdaq Stock Market LLC |
| 3.750% Senior Notes due 2032 | HON 32A | The Nasdaq Stock Market LLC |
| 4.125% Senior Notes due 2034 | HON 34 | The Nasdaq Stock Market LLC |
| 3.750% Senior Notes due 2036 | HON 36 | The Nasdaq Stock Market LLC |
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No☐
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes x No☐
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | x | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ Nox
There were 642,682,909 shares of Common Stock outstanding at March 31, 2025.
| Cautionary Statement about Forward-Looking Statements | 1 | |
| About Honeywell | 2 | |
| PART I | Financial Information | |
|---|---|---|
| ITEM 1 | Financial Statements and Supplementary Data (unaudited): | 3 |
| Consolidated Statement of Operations (unaudited) – Three Months Ended March 31, 2025, and 2024 | 3 | |
| Consolidated Statement of Comprehensive Income (unaudited) – Three Months Ended March 31, 2025, and 2024 | 4 | |
| Consolidated Balance Sheet (unaudited) – March 31, 2025, and December 31, 2024 | 5 | |
| Consolidated Statement of Cash Flows (unaudited) – Three Months Ended March 31, 2025, and 2024 | 6 | |
| Consolidated Statement of Shareowners' Equity (unaudited) – Three Months Ended March 31, 2025, and 2024 | 7 | |
| Note 1 – Basis of Presentation | 8 | |
| Note 2 – Summary of Significant Accounting Policies | 8 | |
| Note 3 – Acquisitions, Divestitures, and Assets and Liabilities Held for Sale | 9 | |
| Note 4 – Revenue Recognition and Contracts with Customers | 12 | |
| Note 5 – Repositioning and Other Charges | 15 | |
| Note 6 – Income Taxes | 16 | |
| Note 7 – Inventories | 16 | |
| Note 8 – Goodwill and Other Intangible Assets—Net | 17 | |
| Note 9 – Debt and Credit Agreements | 18 | |
| Note 10 – Leases | 19 | |
| Note 11 – Derivative Instruments and Hedging Transactions | 20 | |
| Note 12 – Fair Value Measurements | 22 | |
| Note 13 – Earnings Per Share | 23 | |
| Note 14 – Accumulated Other Comprehensive Loss | 24 | |
| Note 15 – Commitments and Contingencies | 24 | |
| Note 16 – Pension Benefits | 27 | |
| Note 17 – Other (Income) Expense | 28 | |
| Note 18 – Segment Financial Data | 28 | |
| ITEM 2 | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 31 |
| ITEM 3 | Quantitative and Qualitative Disclosures about Market Risks | 47 |
| ITEM 4 | Controls and Procedures | 48 |
| PART II | Other Information | |
| ITEM 1 | Legal Proceedings | 49 |
| ITEM 1A | Risk Factors | 49 |
| ITEM 2 | Unregistered Sales of Equity Securities and Use of Proceeds | 50 |
| ITEM 4 | Mine Safety Disclosures | 50 |
| ITEM 5 | Other Information | 50 |
| ITEM 6 | Exhibits | 51 |
| Signatures | 52 |
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