Honeywell Technologies (NASDAQ: HON) spins off Aerospace and halves share count
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Honeywell Technologies has completed the spin-off of its Aerospace Technologies business into independent public company Honeywell Aerospace, distributing one share of HONA for every two shares of HON held as of June 15, 2026. Honeywell now operates as a pure-play automation company focused on building, industrial and process sectors.
The company also implemented a 1‑for‑2 reverse stock split, reducing issued and outstanding shares from about 634 million to approximately 317 million and cutting authorized common shares from 2 billion to 1 billion. Aerospace and the earlier Solstice Advanced Materials spin-off are reported as discontinued operations, with extensive recast segment data, non‑GAAP metrics and pro forma financials provided to show Honeywell’s ongoing results without these businesses.
Positive
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Negative
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Insights
Spin-off and reverse split reshape Honeywell into a smaller, focused automation company.
Honeywell Technologies has completed the spin-off of Honeywell Aerospace and previously separated Solstice Advanced Materials, creating three independent companies. The aerospace business is now classified as discontinued operations, and detailed segment and pro forma data help isolate the remaining automation-focused operations.
The 1-for-2 reverse stock split halves the share count, from about 634 million to roughly 317 million, while also halving authorized shares. Economic ownership is unchanged; the split is mainly optical, affecting per‑share figures but not total equity value.
Recast historical segment sales of $19.945B from continuing operations in 2025 and adjusted EPS of $3.23 from continuing operations frame the scale and profitability of the stand‑alone Honeywell Technologies business. Future filings will show how the automation-only profile performs versus this new baseline.
8-K Event Classification
8 items: 1.01, 2.01, 2.02, 3.03, 5.02, 5.03, 7.01, 9.01
8 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.01
Completion of Acquisition or Disposition of Assets
Financial
The company completed a significant acquisition or sale of business assets.
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 3.03
Material Modification to Rights of Security Holders
Securities
A change was made that materially affects the rights of existing shareholders (e.g., dividend rights, voting rights).
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Governance
The company amended its charter documents, bylaws, or changed its fiscal year.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Aerospace spin-off ratio: 1 HONA share for every 2 HON shares
Reverse stock split ratio: 1-for-2 HON reverse split
Shares outstanding after split: Approximately 317 million shares
+5 more
8 metrics
Aerospace spin-off ratio
1 HONA share for every 2 HON shares
Pro rata distribution effective June 29, 2026; record date June 15, 2026
Reverse stock split ratio
1-for-2 HON reverse split
Effective 12:02 a.m. New York time on June 29, 2026
Shares outstanding after split
Approximately 317 million shares
Reduced from approximately 634 million as of March 31, 2026
Q1 2026 net sales from continuing ops
$4.823 billion
Three months ended March 31, 2026; continuing operations only
Q1 2026 net sales from discontinued ops
$4.320 billion
Three months ended March 31, 2026; aerospace and advanced materials
2025 net sales from continuing ops
$19.945 billion
Year ended December 31, 2025; Honeywell Technologies continuing operations
2025 segment profit from continuing ops
$3.507 billion
Year ended December 31, 2025; segment profit definition per company
2025 adjusted EPS from continuing ops
$3.23 per diluted share
Adjusted earnings per share of common stock – diluted, 2025
Key Terms
discontinued operations, reverse stock split, Tax Matters Agreement, Segment profit, +2 more
6 terms
discontinued operations financial
"the Aerospace Technologies business is reported as discontinued operations in all periods presented."
Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.
reverse stock split financial
"the previously announced reverse stock split of Company Common Stock became effective."
A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.
Tax Matters Agreement financial
"a Tax Matters Agreement (each as described below)."
Segment profit financial
"Total segment profit from continuing operations | $ | 3,507"
Segment profit is the portion of a company's earnings produced by a single business unit or division after subtracting the costs directly tied to that unit. It shows how much money that part of the company actually contributes, like checking which room in a house uses most of the electricity. Investors use it to identify strong or weak businesses inside a company, guide capital allocation, and make clearer comparisons between divisions.
organic sales % change financial
"We define organic sales percentage as the year-over-year change in reported sales relative to the comparable period."
FAQ
What did Honeywell Technologies (HON) announce about its aerospace spin-off?
Honeywell Technologies completed the spin-off of its Aerospace Technologies business into independent company Honeywell Aerospace. Shareowners received one HONA share for every two HON shares held on June 15, 2026, and aerospace results will now be reported as discontinued operations with separate trading on Nasdaq.
What reverse stock split did Honeywell Technologies (HON) implement?
Honeywell Technologies executed a 1-for-2 reverse stock split effective June 29, 2026. Every two HON shares were combined into one, reducing issued and outstanding shares from about 634 million to roughly 317 million, while authorized common shares were cut from 2 billion to 1 billion.
How will Honeywell’s financial reporting change after the spin-off of aerospace?
The Aerospace Technologies business and previously spun-off Advanced Materials unit are reported as discontinued operations. Honeywell Technologies provides recast historical segment data and unaudited pro forma financials so investors can evaluate continuing operations separately from aerospace and Solstice Advanced Materials results going forward.
What were Honeywell Technologies’ 2025 sales from continuing operations after reclassification?
On a discontinued-operations basis, 2025 net sales from continuing operations were $19.945 billion, with discontinued operations contributing $20.741 billion. This split reflects Honeywell Technologies’ remaining automation-focused businesses versus the carved-out aerospace and advanced materials operations.
What adjusted EPS did Honeywell Technologies report for 2025 continuing operations?
For 2025, Honeywell Technologies’ adjusted diluted earnings per share from continuing operations were $3.23. Adjusted diluted EPS from discontinued operations, including aerospace and advanced materials, were $6.97, illustrating the relative earnings contribution of the divested businesses versus the ongoing automation platform.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT – June 25, 2026
(Date of earliest event reported)
(Exact name of Registrant as specified in its Charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||
......(Address of principal executive offices).................................................(Zip Code)
Registrant’s telephone number, including area code: (704 ) 627-6200
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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. ☐
Item 1.01 Entry Into a Material Definitive Agreement.
In connection with Honeywell International Inc.’s (the “Company”) previously announced plan to spin off its Aerospace Technologies business into an independent, publicly traded company (the “Spin-Off”), the Company entered into certain agreements, more fully described below, that set forth certain terms and conditions of the Spin-Off and provide a framework for the Company’s relationship with Honeywell Aerospace Inc. (“Honeywell Aerospace”) following the Spin-Off, including the allocation between the Company and Honeywell Aerospace of the Company’s and Honeywell Aerospace’s assets, liabilities and obligations. On June 25, 2026, the Company entered into a Trademark License Agreement (as described below) with Honeywell Aerospace and Honeywell Aerospace IP Holdings Inc., a wholly owned subsidiary of Honeywell Aerospace. On June 29, 2026, the Company entered into certain other definitive agreements with Honeywell Aerospace, including a Separation and Distribution Agreement and a Tax Matters Agreement (each as described below).
Immediately prior to the consummation of the Spin-Off, Honeywell Aerospace was a wholly owned subsidiary of the Company. Effective as of 12:01 a.m., New York City time, on June 29, 2026, the Company completed the Spin-Off through a pro rata distribution (the “Distribution”) of all of the issued and outstanding shares of common stock of Honeywell Aerospace, par value $0.01 per share (the “Aerospace Common Stock”), to the holders of record of the issued and outstanding shares of common stock of the Company, par value $1.00 per share (the “Company Common Stock”), on the basis of one share of Aerospace Common Stock for every two shares of Company Common Stock held by such Company shareowners as of the close of business on June 15, 2026, which is the record date for the Distribution. Honeywell Aerospace is now an independent public company, and Aerospace Common Stock will commence trading “regular way” under the symbol “HONA” on the Nasdaq Stock Market LLC (“Nasdaq”) on June 29, 2026, with the CUSIP number 43849R105. The Company now operates as Honeywell Technologies.
The Company did not issue fractional shares of Aerospace Common Stock in connection with the Distribution. Instead, the distribution agent will aggregate fractional shares into whole shares, sell the whole shares in the open market at prevailing market prices and distribute the aggregate cash proceeds (net of discounts and commissions) of the sales pro rata (based on the fractional share a holder would otherwise be entitled to receive) to each holder who otherwise would have been entitled to receive a fractional share in the Distribution. Recipients of cash in lieu of fractional shares will not be entitled to any interest on the amounts paid in lieu of fractional shares. Following the Spin-Off, the Company does not beneficially own any shares of Aerospace Common Stock and will no longer consolidate Honeywell Aerospace within the Company’s financial results.
Separation and Distribution Agreement
The Separation and Distribution Agreement sets forth, among other things, the Company’s agreement with Honeywell Aerospace regarding the principal actions to be taken in connection with the Spin-Off. It also sets forth certain other terms and conditions of the Company’s ongoing relationship with Honeywell Aerospace after the completion of the Spin-Off. A summary of certain terms and conditions of the Separation and Distribution Agreement can be found in the section entitled “Certain Relationships and Related Party Transactions—Agreements with Honeywell and Aerospace—Separation Agreement” in Honeywell Aerospace’s Information Statement (the “Information Statement”), which is included as Exhibit 99.1 to Honeywell Aerospace’s Current Report on Form 8-K that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 15, 2026. Such summary is incorporated into this Item 1.01 by reference as if restated in full.
The foregoing description of the Separation and Distribution Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Separation and Distribution Agreement, a copy of which is filed as Exhibit 2.1 hereto and is incorporated into this Item 1.01 by reference.
Tax Matters Agreement
The Tax Matters Agreement governs the Company’s and Honeywell Aerospace’s respective rights, responsibilities and obligations with respect to taxes (including responsibility for taxes, entitlement to refunds, allocation of tax attributes, preparation of tax returns, control of tax contests and other tax matters). The Tax Matters Agreement provides special rules that allocate tax liabilities in the event either (i) the share distribution, together with certain related transactions, fails to qualify as a transaction that is generally tax-free for U.S. federal income tax purposes under Sections 355 and 368(a)(1)(D) of the Internal Revenue Code of 1986, as amended, or (ii) any internal reorganization transaction that is intended to qualify as a transaction that is generally tax-free fails to so qualify. A summary of certain terms and conditions of the Tax Matters Agreement can be found in the section entitled “Certain Relationships and Related Party Transactions—Agreements with Honeywell and Aerospace—Tax Matters Agreement” in the Information Statement. Such summary is incorporated into this Item 1.01 by reference as if restated in full.
The foregoing description of the Tax Matters Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Tax Matters Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated into this Item 1.01 by reference.
Trademark License Agreement
Pursuant to the Trademark License Agreement, the Company granted to Honeywell Aerospace IP Holdings Inc. (the "Licensee"), a wholly owned subsidiary of Honeywell Aerospace, a license to use “Honeywell Aerospace” and certain other trademarks in its operation of the Aerospace business, and the Licensee may sublicense such rights to Honeywell Aerospace and certain of its subsidiaries, subject to certain restrictions. The agreement includes exclusivity terms with respect to the use of “Honeywell Aerospace” and certain other uses, subject to certain exceptions, including exceptions permitting the Company to continue to market and sell products and services under the “Honeywell” mark. The Trademark License Agreement includes customary quality control provisions to protect and preserve the goodwill associated with “Honeywell” and the other licensed marks. In exchange, Honeywell Aerospace will pay the Company certain fees to use such trademarks in its operation of the Aerospace business over a specified period. A summary of certain terms and conditions of the Trademark License Agreement can be found in the section entitled “Certain Relationships and Related Party Transactions—Agreements with Honeywell and Aerospace—Trademark License Agreement” in the Information Statement. Such summary is incorporated into this Item 1.01 by reference as if restated in full.
The foregoing description of the Trademark License Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Trademark License Agreement, a copy of which is filed as Exhibit 10.2 hereto and is incorporated into this Item 1.01 by reference.
Item 2.01 Completion of Material Acquisition or Disposition of Assets.
The information set forth in Item 1.01 of this Current Report on Form 8-K and the Separation and Distribution Agreement attached hereto as Exhibit 2.1 are incorporated into this Item 2.01 by reference.
Item 2.02 Results of Operations and Financial Condition.
In connection with the completion of the Spin-Off, the Company’s Aerospace Technologies business will be reported as discontinued operations beginning in the third quarter of 2026, and retrospectively for all comparative periods reported. Corporate expenses historically allocated to Aerospace Technologies and not eligible to be part of discontinued operations are now included in Corporate and All Other in the supplemental information furnished herewith.
Attached as Exhibit 99.2 is a supplemental schedule containing unaudited segment information for the three month period ended March 31, 2026, the three month periods ended March 31, June 30, September 30, and December 31 in each of 2025 and 2024, and the years ended December 31, 2025 and 2024, recast on the basis of the presentation of the Aerospace Technologies business as discontinued operations beginning with the quarter ended September 30, 2026. The historical financial information also reflects the removal of the previously consolidated results of Quantinuum Inc. (“Quantinuum”), as Quantinuum no longer meets the definition of an operating segment following the deconsolidation of Quantinuum in the second quarter of 2026.
To provide supplemental historical information on a basis consistent with the Spin-Off, Exhibit 99.2 includes certain non-GAAP supplemental historical business segment information to reflect the retrospective impacts of the Aerospace Technologies business which will be reported as discontinued operations.
The supplemental unaudited historical business segment information contained in Exhibit 99.2 does not represent a restatement or reissuance of previously issued financial statements and does not revise or update the Company’s previously reported consolidated results. The information furnished pursuant to this Item 2.02, including Exhibit 99.2, should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and the Company’s quarterly report on Form 10-Q for the quarterly period ended March 31, 2026.
The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.2 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of Section 18, and shall not be
deemed to be incorporated by reference into any filing made under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as otherwise expressly stated in such filing.
Item 3.03 Material Modification to Rights of Security Holders.
The information set forth in Item 5.03 of this Current Report on Form 8-K is incorporated into this Item 3.03 by reference.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 29, 2026, Mr. James Currier resigned as an executive officer of the Company, effective as of immediately prior to and conditioned upon the consummation of the Spin-Off. Mr. Currier’s decision to resign as an executive officer of the Company follows the earlier announcement that he will serve as the President and Chief Executive Officer of Honeywell Aerospace.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
At 12:02 a.m., New York City time, on June 29, 2026, the previously announced reverse stock split of Company Common Stock became effective. As a result of the reverse stock split, every two shares of Company Common Stock issued and outstanding or held by Honeywell as treasury shares were automatically combined into one share of Company Common Stock and the number of authorized shares of Company Common Stock was reduced from 2 billion to 1 billion. The reverse stock split was effectuated by a certificate of amendment (the “Certificate of Amendment”) to the Company’s Amended and Restated Certificate of Incorporation, which the Company filed with the Secretary of State of the State of Delaware on June 26, 2026. The Company Common Stock will be trading on a split-adjusted basis on Nasdaq at the commencement of trading on June 29, 2026 under the Company’s existing trading symbol “HON”. The new CUSIP number for the Company Common Stock is 438516205.
No fractional shares were issued in connection with the reverse stock split. As soon as practicable after the effective time of the reverse stock split, the Company’s transfer agent will aggregate any fractional shares into whole shares and sell the whole shares at the then-prevailing trading prices in the open market on behalf of those shareowners who would otherwise be entitled to receive a fractional share, and after the Company’s transfer agent’s completion of such sale, such shareowners will receive a cash payment (without interest or deduction) from the Company’s transfer agent in an amount equal to their respective pro rata shares of the total net proceeds of that sale and, where shares are held in certificated form, upon the surrender of such shareowners’ stock certificates.
If any shareowner’s shares of Company Common Stock are held in certificated form, that shareowner will receive a transmittal letter from the Company’s transfer agent as soon as practicable after the effective time of the reverse stock split. The transmittal letter will be accompanied by instructions specifying how the shareowner may exchange its certificates representing the pre-split shares of Company Common Stock for a statement of holding (as described below). When a shareowner submits its stock certificates, the post-split shares of Company Common Stock will be held electronically in book-entry form. This means that, instead of receiving a new stock certificate, that shareowner will receive a statement of holding that indicates the number of post-split shares of Company Common Stock held in book-entry form. The Company will no longer issue physical stock certificates, unless a stock certificate is specifically requested by a shareowner in accordance with the Company’s By-laws. In addition, a proportionate adjustment will be made to the per share exercise price and number of shares issuable under all of the Company’s outstanding equity awards to purchase shares of Honeywell common stock, and the number of shares authorized and reserved for issuance pursuant to the Company’s equity incentive plan will be reduced proportionately.
The above description of the Certificate of Amendment is a summary of the material terms thereof and is qualified in its entirety by reference to the Certificate of Amendment, a copy of which is attached hereto as Exhibit 3.1.
Item 7.01 Regulation FD Disclosure.
On June 29, 2026, the Company issued a press release announcing, among other things, the completion of the Spin-Off and the effectiveness of the reverse stock split of the Company Common Stock. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated into this Item 7.01 by reference.
The information contained in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or
otherwise subject to the liabilities of Section 18, and shall not be deemed to be incorporated by reference into any filing made under the Securities Act or the Exchange Act, except as otherwise expressly stated in such filing.
Item 9.01 Financial Statements and Exhibits
(b) Pro Forma Financial Information
The following unaudited pro forma financial information of the Company is attached hereto as Exhibit 99.3 and is incorporated herein by reference:
•Unaudited Pro Forma Condensed Consolidated Balance Sheet as of March 31, 2026;
•Unaudited Pro Forma Condensed Consolidated Statement of Operations for the three months ended March 31, 2026 and each of the years ended December 31, 2025, 2024 and 2023; and
•Notes to the Unaudited Pro Forma Condensed Consolidated Financial Statements.
(d) Exhibits
The following exhibits are filed as part of this report:
Exhibit # | Description | |||||||
| 2.1 | Separation and Distribution Agreement, dated as of June 29, 2026, by and between Honeywell International Inc. and Honeywell Aerospace Inc. | |||||||
| 3.1 | Certificate of Amendment to the Amended and Restated Certificate of Incorporation of Honeywell International Inc. | |||||||
| 10.1 | Tax Matters Agreement, dated as of June 29, 2026, by and between Honeywell International Inc. and Honeywell Aerospace Inc.# | |||||||
| 10.2 | Trademark License Agreement, dated as of June 25, 2026, by and between Honeywell International Inc., Honeywell Aerospace IP Holdings Inc., and Honeywell Aerospace Inc.# | |||||||
| 99.1 | Press Release of Honeywell International Inc., dated as of June 29, 2026 (furnished pursuant to Item 7.01 hereof) | |||||||
| 99.2 | Supplemental unaudited historical business segment information (furnished pursuant to Item 2.02 hereof) | |||||||
| 99.3 | Honeywell International Inc. Unaudited Pro Forma Condensed Consolidated Financial Information | |||||||
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) | |||||||
# Schedules and/or exhibits have been omitted from this filing pursuant to Item 601(a)(5) of Regulation S-K. The Registrant agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon request. | |||||||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | June 29, 2026 | HONEYWELL INTERNATIONAL INC. | |||||||||||||||
By: /s/ Su Ping Lu | |||||||||||||||||
| Su Ping Lu | |||||||||||||||||
| Senior Vice President, General Counsel and Corporate Secretary | |||||||||||||||||
Exhibit 99.1
Contacts: | |||||
Media | Investor Relations | ||||
Stacey Jones | Mark Macaluso | ||||
(980) 378-6258 | (704) 627-6118 | ||||
Stacey.Jones@honeywell.com | Mark.Macaluso@honeywell.com | ||||
HONEYWELL TECHNOLOGIES LAUNCHES AS INDEPENDENT, PURE-PLAY AUTOMATION COMPANY FOLLOWING COMPLETION OF HONEYWELL AEROSPACE SPIN-OFF
•Marks completion of Honeywell’s plan to create three independent, focused market leaders
•Honeywell Technologies will continue to trade on Nasdaq under the ticker symbol “HON”
•Honeywell Aerospace will begin trading today on Nasdaq under the ticker symbol "HONA"
•Reverse stock split for shares of Honeywell Technologies effective today
CHARLOTTE, N.C., June 29, 2026 – Honeywell Technologies (NASDAQ: HON) today announced it has completed the previously announced spin-off of its Aerospace Technologies business, which now operates as Honeywell Aerospace. Honeywell Technologies will continue to trade “regular way” on the Nasdaq Stock Market LLC (“Nasdaq”) under the ticker symbol “HON,” and shares of Honeywell Aerospace common stock will begin trading “regular way” on Nasdaq under the ticker symbol “HONA,” effective at the market opening today.
“Today is a defining moment in Honeywell’s legacy,” said Vimal Kapur, Chairman and CEO of Honeywell Technologies. “With the completion of this separation, we have successfully transformed Honeywell into three independent, industry-leading companies: Honeywell Technologies, Honeywell Aerospace and Solstice Advanced Materials. Each company is built around a distinct strategy with greater focus and financial flexibility to pursue a long-term growth agenda.”
Kapur added, “This milestone is the culmination of years of disciplined execution and marks the conclusion of the portfolio transformation we began in 2023. As standalone companies, Honeywell Technologies and Honeywell Aerospace are uniquely positioned to accelerate innovation, invest with greater precision and capitalize on the value creation opportunities in our respective industries. We are confident each company is strongly positioned to create enduring value for decades to come.”
Honeywell Technologies is now uniquely positioned to lead the industrial sector’s transition from automation to autonomy with a portfolio that spans the building, process and industrial sectors. By pairing its deep domain expertise with decades of data from its vast global installed base, Honeywell Technologies is delivering mission-critical outcomes for customers through services, solutions and products that enable safety, productivity, efficiency and uptime.
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The spin-off was completed through the distribution, effective as of today at 12:01 a.m. New York City time, of all of the issued and outstanding shares of Honeywell Aerospace common stock to Honeywell Technologies shareowners of record on the basis of one share of Honeywell Aerospace common stock for every two shares of Honeywell Technologies common stock held as of the close of business on June 15, 2026, the record date for the distribution. Honeywell Technologies shareowners of record will receive cash in lieu of any fractional shares to which they would otherwise be entitled.
Information on the spin-off and prior transactions can be found in the “About Our Spin-offs” section of Honeywell Technologies’ investor relations website at investor.honeywell.com.
Reverse Stock Split
Honeywell Technologies also announced today that it has completed the previously announced reverse stock split of Honeywell Technologies common stock at a ratio of 1-for-2 and a proportionate reduction in the number of authorized shares of Honeywell Technologies common stock.
Honeywell Technologies common stock will begin trading on a split-adjusted basis effective at the market opening today and will continue trading on Nasdaq under the symbol “HON”, with a new CUSIP number (438516205).
As a result of the reverse stock split, every two shares of Honeywell Technologies common stock issued and outstanding or held by Honeywell Technologies as treasury shares were automatically combined into one share of Honeywell Technologies common stock. This reduced the number of issued and outstanding shares of Honeywell Technologies common stock from approximately 634 million as of March 31, 2026 to approximately 317 million. Concurrently with the reverse stock split, the number of shares of Honeywell Technologies common stock authorized for issuance was also reduced from 2 billion to 1 billion. The par value of Honeywell Technologies common stock did not change. Outstanding Honeywell Technologies equity-based awards and shares or share units under Honeywell Technologies’ benefit plans were proportionately adjusted.
No fractional shares were issued in connection with the reverse stock split. As soon as practicable after the effective time of the reverse stock split, Honeywell Technologies’ transfer agent will aggregate such fractional shares into whole shares and sell the whole shares at the then-prevailing trading prices in the open market on behalf of those shareowners who would otherwise be entitled to receive a fractional share, and after Honeywell Technologies’ transfer agent’s completion of such sale, such shareowners will receive a cash payment (without interest or deduction) from Honeywell Technologies’ transfer agent in an amount equal to their respective pro rata shares of the total net proceeds of that sale and, where shares are held in certificated form, upon the surrender of such shareowners’ stock certificates.
Supplemental Quarterly Information for Honeywell Technologies
In connection with the spin-off, Honeywell Technologies will file a Current Report on Form 8-K later this morning presenting the former Aerospace Technologies (now Honeywell Aerospace) business as discontinued operations,
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along with the former Advanced Materials (now Solstice Advanced Materials) business which was previously presented as discontinued operations effective Q4 2025. The information in the filing will contain recast historical financial information for Honeywell Technologies and its segments on a quarterly basis for fiscal years 2024 and 2025, and Q1 2026, and will include reported and organic sales percentage change, operating income and segment profit, and Earnings per share of common stock– diluted and Adjusted earnings per share of common stock– diluted.
About Honeywell Technologies
Honeywell Technologies is a global, pure-play automation company with a legacy of innovating to help solve the world’s most mission-critical challenges, enhancing the quality of life for people and communities around the world. We serve the building, industrial, and process sectors with a broad portfolio of services, solutions, and products, underpinned by our Honeywell Technologies Accelerator operating system and Honeywell Technologies Forge intelligence layer. By combining the deep domain expertise of our more than 50,000 employees with decades of data from our global installed base, we are uniquely positioned to lead the industrial sector’s transition from automation to autonomy. For more news and information on Honeywell Technologies, please visit Honeywell Technologies Newsroom.
Advisors
Goldman Sachs & Co. LLC acted as lead financial advisor and Morgan Stanley & Co. LLC acted as financial advisor to Honeywell Technologies. Wachtell, Lipton, Rosen & Katz and DLA Piper LLP acted as legal counsel to Honeywell Technologies.
Additional Information
Honeywell Technologies uses our Investor Relations website, investor.honeywell.com, as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media.
Forward-Looking Statements
Certain statements in this release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as changes in or application of trade and tax laws and policies, including the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, including ongoing conflicts in the Middle East, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. Some of the important factors that could cause Honeywell Technologies’ actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the possibility that the spin-off transaction will not achieve its intended benefits; (ii) the impact of the spin-off transaction on Honeywell Technologies’ businesses, including the impact on Honeywell Technologies’ resources, systems, procedures and controls, diversion of management's attention and the impact on, and possible disruption of, existing relationships with regulators, customers, suppliers, employees and other business counterparties; (iii) the possibility of disruption, including disputes, litigation or unanticipated costs, in connection with the spin-off transaction; (iv) the uncertainty of the expected financial performance of Honeywell
Page 3 of 4
Technologies following completion of the spin-off transaction; (v) the ability to achieve anticipated tax treatments in connection with the spin-off transaction and future, if any, divestitures, mergers, acquisitions and other portfolio changes and the impact of changes in relevant tax and other laws; and (vi) the failure to realize expected benefits and effectively manage and achieve anticipated synergies and operational efficiencies in connection with the spin-off transaction and completed and future, if any, divestitures, mergers, acquisitions, and other portfolio management, productivity and infrastructure actions. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K and other filings with the SEC. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.
Page 4 of 4
Exhibit 99.2
HONEYWELL INTERNATIONAL INC.
(Unaudited)
(Dollars in tables in millions)
The Company’s current estimates on a discontinued operations basis are preliminary and could change as the Company finalizes discontinued operations accounting to be recorded in the 2026 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarter ended September 30, 2026.
SUPPLEMENTAL QUARTERLY SEGMENT INFORMATION
| Three Months Ended | ||||||||||||||||||||
| March 31, 2026 | March 31, 2025 | June 30, 2025 | September 30, 2025 | December 31, 2025 | ||||||||||||||||
| Net sales | ||||||||||||||||||||
| Building Automation | $ | 1,882 | $ | 1,692 | $ | 1,826 | $ | 1,878 | $ | 1,971 | ||||||||||
| Process Automation and Technology | 1,513 | 1,445 | 1,613 | 1,598 | 1,781 | |||||||||||||||
| Industrial Automation | 1,423 | 1,600 | 1,577 | 1,450 | 1,484 | |||||||||||||||
| Total Segment sales | $ | 4,818 | $ | 4,737 | $ | 5,016 | $ | 4,926 | $ | 5,236 | ||||||||||
Quantinuum2 | 5 | 19 | 2 | 3 | 6 | |||||||||||||||
| Total Net sales from continuing operations | $ | 4,823 | $ | 4,756 | $ | 5,018 | $ | 4,929 | $ | 5,242 | ||||||||||
Total Net sales from discontinued operations1 | $ | 4,320 | $ | 5,066 | $ | 5,334 | $ | 5,479 | $ | 4,862 | ||||||||||
| Segment profit | ||||||||||||||||||||
| Building Automation | $ | 496 | $ | 440 | $ | 479 | $ | 502 | $ | 532 | ||||||||||
| Process Automation and Technology | 359 | 313 | 386 | 389 | 454 | |||||||||||||||
| Industrial Automation | 240 | 231 | 257 | 216 | 192 | |||||||||||||||
Corporate2,3 | (151) | (191) | (218) | (241) | (234) | |||||||||||||||
| Total segment profit from continuing operations | $ | 944 | $ | 793 | $ | 904 | $ | 866 | $ | 944 | ||||||||||
Total segment profit from discontinued operations1 | $ | 1,248 | $ | 1,492 | $ | 1,511 | $ | 1,590 | $ | 1,095 | ||||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | Effective the second quarter of 2026, Quantinuum Inc. (“Quantinuum”) no longer meets the definition of an operating segment, and sales and losses attributable to Quantinuum are excluded from Segment sales and Segment profit, respectively. | |||||||
| 3 | Corporate expenses historically allocated to the Aerospace Technologies and AM businesses and not eligible to be part of discontinued operations are included in Corporate. | |||||||
| Three Months Ended | ||||||||||||||
| March 31, 2024 | June 30, 2024 | September 30, 2024 | December 31, 2024 | |||||||||||
| Net sales | ||||||||||||||
| Building Automation | $ | 1,426 | $ | 1,571 | $ | 1,745 | $ | 1,798 | ||||||
| Process Automation and Technology | 1,352 | 1,408 | 1,478 | 1,681 | ||||||||||
| Industrial Automation | 1,709 | 1,702 | 1,683 | 1,704 | ||||||||||
| Total Segment sales | $ | 4,487 | $ | 4,681 | $ | 4,906 | $ | 5,183 | ||||||
| Quantinuum | 7 | 5 | 7 | 5 | ||||||||||
| Total Net sales from continuing operations | $ | 4,494 | $ | 4,686 | $ | 4,913 | $ | 5,188 | ||||||
Total Net sales from discontinued operations1 | $ | 4,611 | $ | 4,891 | $ | 4,815 | $ | 4,900 | ||||||
| Segment profit | ||||||||||||||
| Building Automation | $ | 350 | $ | 397 | $ | 452 | $ | 482 | ||||||
| Process Automation and Technology | 289 | 346 | 381 | 448 | ||||||||||
| Industrial Automation | 286 | 271 | 287 | 273 | ||||||||||
Corporate2,3 | (210) | (267) | (240) | (218) | ||||||||||
| Total segment profit from continuing operations | $ | 715 | $ | 747 | $ | 880 | $ | 985 | ||||||
Total segment profit from discontinued operations1 | $ | 1,410 | $ | 1,488 | $ | 1,452 | $ | 1,164 | ||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | Effective the second quarter of 2026, Quantinuum Inc. (“Quantinuum”) no longer meets the definition of an operating segment, and sales and losses attributable to Quantinuum are excluded from Segment sales and Segment profit, respectively. | |||||||
| 3 | Corporate expenses historically allocated to the Aerospace Technologies and AM businesses and not eligible to be part of discontinued operations are included in Corporate. | |||||||
SUPPLEMENTAL ANNUAL SEGMENT INFORMATION
| Years Ended December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Net sales | |||||||||||
| Building Automation | $ | 7,367 | $ | 6,540 | |||||||
| Process Automation and Technology | 6,437 | 5,919 | |||||||||
| Industrial Automation | 6,111 | 6,798 | |||||||||
| Total Segment sales | $ | 19,915 | $ | 19,257 | |||||||
| Quantinuum | 30 | 24 | |||||||||
| Total Net sales from continuing operations | $ | 19,945 | $ | 19,281 | |||||||
Total Net sales from discontinued operations1 | $ | 20,741 | $ | 19,217 | |||||||
| Segment profit | |||||||||||
| Building Automation | $ | 1,953 | $ | 1,681 | |||||||
| Process Automation and Technology | 1,542 | 1,464 | |||||||||
| Industrial Automation | 896 | 1,117 | |||||||||
Corporate2,3 | (884) | (935) | |||||||||
| Total segment profit from continuing operations | $ | 3,507 | $ | 3,327 | |||||||
Total segment profit from discontinued operations1 | $ | 5,688 | $ | 5,514 | |||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | Effective the second quarter of 2026, Quantinuum Inc. (“Quantinuum”) no longer meets the definition of an operating segment, and sales and losses attributable to Quantinuum are excluded from Segment sales and Segment profit, respectively. | |||||||
| 3 | Corporate expenses historically allocated to the Aerospace Technologies and AM businesses and not eligible to be part of discontinued operations are included in Corporate. | |||||||
Appendix
Non-GAAP Financial Measures
The following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this supplemental schedule to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (“GAAP").
Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax effect for adjusting items is determined individually and on a case-by-case basis. Other companies may calculate these non-GAAP measures differently, limiting the usefulness of these measures for comparative purposes.
Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Investors are urged to review the reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures and not to rely on any single financial measure to evaluate Honeywell Technologies’ business.
Honeywell International Inc.
Reconciliation of Organic Sales % Change
(Unaudited)
| Three Months Ended | |||||||||||||||||||||||||||||
| March 31, 2026 | March 31, 2025 | June 30, 2025 | September 30, 2025 | December 31, 2025 | |||||||||||||||||||||||||
| Honeywell Technologies | |||||||||||||||||||||||||||||
| Reported sales % change | 1% | 6% | 7% | —% | 1% | ||||||||||||||||||||||||
| Less: Impact of divestitures to the prior period | (5)% | —% | (3)% | (5)% | (5)% | ||||||||||||||||||||||||
| Reported sales percent change, adjusted for impact of divestitures | 6% | 6% | 10% | 5% | 6% | ||||||||||||||||||||||||
| Less: Foreign currency translation | 2% | (2)% | —% | —% | 1% | ||||||||||||||||||||||||
| Less : Acquisitions | 3% | 6% | 5% | 4% | 3% | ||||||||||||||||||||||||
| Less: Other | —% | —% | —% | —% | —% | ||||||||||||||||||||||||
| Organic sales % change | 1% | 2% | 5% | 1% | 2% | ||||||||||||||||||||||||
| Building Automation | |||||||||||||||||||||||||||||
| Reported sales % change | 11% | 19% | 16% | 8% | 10% | ||||||||||||||||||||||||
| Less: Impact of divestitures to the prior period | —% | —% | —% | —% | —% | ||||||||||||||||||||||||
| Reported sales percent change, adjusted for impact of divestitures | 11% | 19% | 16% | 8% | 10% | ||||||||||||||||||||||||
| Less: Foreign currency translation | 3% | (2)% | —% | 1% | 2% | ||||||||||||||||||||||||
| Less : Acquisitions | —% | 13% | 8% | —% | —% | ||||||||||||||||||||||||
| Less: Other | —% | —% | —% | —% | —% | ||||||||||||||||||||||||
| Organic sales % change | 8% | 8% | 8% | 7% | 8% | ||||||||||||||||||||||||
| Process Automation and Technology | |||||||||||||||||||||||||||||
| Reported sales % change | 5% | 7% | 15% | 8% | 6% | ||||||||||||||||||||||||
| Less: Impact of divestitures to the prior period | —% | —% | —% | —% | —% | ||||||||||||||||||||||||
| Reported sales percent change, adjusted for impact of divestitures | 5% | 7% | 15% | 8% | 6% | ||||||||||||||||||||||||
| Less: Foreign currency translation | —% | —% | —% | —% | —% | ||||||||||||||||||||||||
| Less : Acquisitions | 2% | (2)% | 1% | —% | 1% | ||||||||||||||||||||||||
| Less: Other | 9% | 6% | 8% | 14% | 8% | ||||||||||||||||||||||||
| Organic sales % change | (6)% | 3% | 6% | (6)% | (3)% | ||||||||||||||||||||||||
| Industrial Automation | |||||||||||||||||||||||||||||
| Reported sales % change | (11)% | (6)% | (7)% | (14)% | (13)% | ||||||||||||||||||||||||
| Less: Impact of divestitures to the prior period | (15)% | —% | (8)% | (16)% | (15)% | ||||||||||||||||||||||||
| Reported sales percent change, adjusted for impact of divestitures | 4% | (6)% | 1% | 2% | 2% | ||||||||||||||||||||||||
| Less: Foreign currency translation | 3% | (1)% | 1% | 1% | 1% | ||||||||||||||||||||||||
| Less : Acquisitions | —% | —% | —% | —% | —% | ||||||||||||||||||||||||
| Less: Other | —% | —% | —% | —% | —% | ||||||||||||||||||||||||
| Organic sales % change | 1% | (5)% | —% | 1% | 1% | ||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||
| March 31, 2024 | June 30, 2024 | September 30, 2024 | December 31, 2024 | ||||||||||||||||||||
| Honeywell Technologies | |||||||||||||||||||||||
| Reported sales % change | (8)% | (4)% | 2% | 7% | |||||||||||||||||||
| Less: Impact of divestitures to the prior period | —% | —% | —% | —% | |||||||||||||||||||
| Reported sales percent change, adjusted for impact of divestitures | (8)% | (4)% | 2% | 7% | |||||||||||||||||||
| Less: Foreign currency translation | (1)% | (1)% | —% | (1)% | |||||||||||||||||||
| Less : Acquisitions | 1% | 2% | 4% | 5% | |||||||||||||||||||
| Less: Other | —% | —% | —% | —% | |||||||||||||||||||
| Organic sales % change | (8)% | (5)% | (2)% | 3% | |||||||||||||||||||
| Building Automation | |||||||||||||||||||||||
| Reported sales % change | (4)% | 4% | 14% | 19% | |||||||||||||||||||
| Less: Impact of divestitures to the prior period | —% | —% | —% | —% | |||||||||||||||||||
| Reported sales percent change, adjusted for impact of divestitures | (4)% | 4% | 14% | 19% | |||||||||||||||||||
| Less: Foreign currency translation | (1)% | (1)% | —% | —% | |||||||||||||||||||
| Less : Acquisitions | —% | 4% | 11% | 12% | |||||||||||||||||||
| Less: Other | —% | —% | —% | —% | |||||||||||||||||||
| Organic sales % change | (3)% | 1% | 3% | 7% | |||||||||||||||||||
| Process Automation and Technology | |||||||||||||||||||||||
| Reported sales % change | 4% | 4% | 1% | 8% | |||||||||||||||||||
| Less: Impact of divestitures to the prior period | —% | —% | —% | —% | |||||||||||||||||||
| Reported sales percent change, adjusted for impact of divestitures | 4% | 4% | 1% | 8% | |||||||||||||||||||
| Less: Foreign currency translation | (1)% | (1)% | (1)% | —% | |||||||||||||||||||
| Less : Acquisitions | 3% | 3% | —% | 4% | |||||||||||||||||||
| Less: Other | —% | —% | —% | —% | |||||||||||||||||||
| Organic sales % change | 2% | 2% | 2% | 4% | |||||||||||||||||||
| Industrial Automation | |||||||||||||||||||||||
| Reported sales % change | (18)% | (15)% | (9)% | (4)% | |||||||||||||||||||
| Less: Impact of divestitures to the prior period | —% | —% | —% | —% | |||||||||||||||||||
| Reported sales percent change, adjusted for impact of divestitures | (18)% | (15)% | (9)% | (4)% | |||||||||||||||||||
| Less: Foreign currency translation | —% | (1)% | —% | (1)% | |||||||||||||||||||
| Less : Acquisitions | —% | —% | —% | —% | |||||||||||||||||||
| Less: Other | —% | —% | —% | —% | |||||||||||||||||||
| Organic sales % change | (18)% | (14)% | (9)% | (3)% | |||||||||||||||||||
| Twelve Months Ended December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Honeywell Technologies | |||||||||||
| Reported sales % change | 3% | (1)% | |||||||||
| Less: Impact of divestitures to the prior period | (3)% | —% | |||||||||
| Reported sales percent change, adjusted for impact of divestitures | 6% | (1)% | |||||||||
| Less: Foreign currency translation | —% | (1)% | |||||||||
| Less : Acquisitions | 4% | 3% | |||||||||
| Less: Other | —% | —% | |||||||||
| Organic sales % change | 2% | (3)% | |||||||||
| Building Automation | |||||||||||
| Reported sales % change | 13% | 8% | |||||||||
| Less: Impact of divestitures to the prior period | —% | —% | |||||||||
| Reported sales percent change, adjusted for impact of divestitures | 13% | 8% | |||||||||
| Less: Foreign currency translation | —% | (1)% | |||||||||
| Less : Acquisitions | 5% | 7% | |||||||||
| Less: Other | —% | —% | |||||||||
| Organic sales % change | 8% | 2% | |||||||||
| Process Automation and Technology | |||||||||||
| Reported sales % change | 9% | 4% | |||||||||
| Less: Impact of divestitures to the prior period | —% | —% | |||||||||
| Reported sales percent change, adjusted for impact of divestitures | 9% | 4% | |||||||||
| Less: Foreign currency translation | —% | (1)% | |||||||||
| Less : Acquisitions | 9% | 2% | |||||||||
| Less: Other | —% | —% | |||||||||
| Organic sales % change | —% | 3% | |||||||||
| Industrial Automation | |||||||||||
| Reported sales % change | (10)% | (12)% | |||||||||
| Less: Impact of divestitures to the prior period | (10)% | —% | |||||||||
| Reported sales percent change, adjusted for impact of divestitures | —% | (12)% | |||||||||
| Less: Foreign currency translation | 1% | (1)% | |||||||||
| Less : Acquisitions | —% | —% | |||||||||
| Less: Other | —% | —% | |||||||||
| Organic sales % change | (1)% | (11)% | |||||||||
We define organic sales percentage as the year-over-year change in reported sales relative to the comparable period, adjusted for the impact of divestitures to the prior period, and excluding the impact on sales from foreign currency translation, acquisitions for the first 12 months following the transaction date, and certain other items that are unusual or non-recurring in nature. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.
Honeywell International Inc.
Reconciliation of Operating Income to Segment Profit
(Unaudited)
(Dollars in millions)
| Three Months Ended March 31, | ||||||||||||||||||||||||||
| 2026 | 2025 | 2024 | ||||||||||||||||||||||||
| Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | |||||||||||||||||||||
| Operating income | $ | 317 | $ | 1,157 | $ | 535 | $ | 1,435 | $ | 516 | $ | 1,344 | ||||||||||||||
Stock compensation expense2 | 42 | 15 | 48 | 13 | 44 | 9 | ||||||||||||||||||||
Repositioning, Other3,4 | 54 | 30 | 43 | 19 | 50 | 42 | ||||||||||||||||||||
Pension and other postretirement service costs4 | 13 | 4 | 9 | 5 | 11 | 5 | ||||||||||||||||||||
Amortization of acquisition-related intangibles5 | 129 | 24 | 116 | 20 | 60 | 10 | ||||||||||||||||||||
Divestiture-related costs2 | 57 | 18 | — | — | — | — | ||||||||||||||||||||
Acquisition-related costs5,6 | — | — | — | — | 3 | — | ||||||||||||||||||||
ERP Implementation costs2 | 6 | — | — | — | — | — | ||||||||||||||||||||
| Impairment of assets held for sale | 263 | — | 15 | — | — | — | ||||||||||||||||||||
Loss on Quantinuum7 | 63 | $ | — | 27 | — | 31 | — | |||||||||||||||||||
| Segment profit | $ | 944 | $ | 1,248 | $ | 793 | $ | 1,492 | $ | 715 | $ | 1,410 | ||||||||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | Included in Selling, general and administrative expenses. | |||||||
| 3 | Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. | |||||||
| 4 | Included in Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. | |||||||
| 5 | Included in Cost of products and services sold. | |||||||
| 6 | Includes acquisition-related fair value adjustments to inventory. | |||||||
| 7 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. Included in Net sales, Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. | |||||||
| Three Months Ended June 30, | |||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | ||||||||||||||
| Operating income | $ | 666 | $ | 1,448 | $ | 553 | $ | 1,425 | |||||||||
Stock compensation expense2 | 45 | 12 | 45 | 10 | |||||||||||||
Repositioning, Other3,4 | 28 | 26 | 20 | 38 | |||||||||||||
Pension and other postretirement service costs4 | 10 | 5 | 11 | 5 | |||||||||||||
Amortization of acquisition-related intangibles5 | 113 | 20 | 75 | 10 | |||||||||||||
Acquisition-related costs5,6 | (7) | — | 7 | — | |||||||||||||
Loss on Quantinuum7 | 49 | — | 36 | — | |||||||||||||
| Segment profit | $ | 904 | $ | 1,511 | $ | 747 | $ | 1,488 | |||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | Included in Selling, general and administrative expenses. | |||||||
| 3 | Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. | |||||||
| 4 | Included in Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. | |||||||
| 5 | Included in Cost of products and services sold. | |||||||
| 6 | Includes acquisition-related fair value adjustments to inventory and third-party transaction and integration costs. | |||||||
| 7 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. Included in Net sales, Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. | |||||||
| Three Months Ended September 30, | |||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | ||||||||||||||
| Operating income | $ | 413 | $ | 1,341 | $ | 456 | $ | 1,402 | |||||||||
Stock compensation expense2 | 22 | 14 | 35 | 10 | |||||||||||||
Repositioning, Other3,4 | 224 | 224 | 44 | 25 | |||||||||||||
Pension and other postretirement service costs4 | 14 | 5 | 11 | 5 | |||||||||||||
Amortization of acquisition-related intangibles5 | 135 | 6 | 110 | 10 | |||||||||||||
Acquisition-related costs5,6 | 9 | — | 15 | — | |||||||||||||
Indefinite-lived intangible asset impairment5 | — | — | 48 | — | |||||||||||||
| Impairment of assets held for sale | — | — | 125 | — | |||||||||||||
Loss on Quantinuum7 | 49 | — | 36 | — | |||||||||||||
| Segment profit | $ | 866 | $ | 1,590 | $ | 880 | $ | 1,452 | |||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | Included in Selling, general and administrative expenses. | |||||||
| 3 | Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. | |||||||
| 4 | Included in Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. | |||||||
| 5 | Included in Cost of products and services sold. | |||||||
| 6 | Includes acquisition-related fair value adjustments to inventory and third-party transaction and integration costs. | |||||||
| 7 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. Included in Net sales, Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. | |||||||
| Three Months Ended December 31, | |||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | ||||||||||||||
| Operating income | $ | (443) | $ | 1,023 | $ | 648 | $ | 1,097 | |||||||||
Stock compensation expense2 | 38 | 15 | 29 | 12 | |||||||||||||
Repositioning, Other3,4 | 95 | 35 | 33 | 40 | |||||||||||||
Pension and other postretirement service costs4 | 24 | 4 | 13 | 4 | |||||||||||||
Amortization of acquisition-related intangibles5 | 145 | 18 | 129 | 11 | |||||||||||||
Indefinite-lived intangible asset impairment5 | 44 | — | — | — | |||||||||||||
| Impairment of goodwill | 724 | — | — | — | |||||||||||||
| Impairment of assets held for sale | 255 | — | 94 | — | |||||||||||||
Loss on Quantinuum7 | 62 | — | 39 | — | |||||||||||||
| Segment profit | $ | 944 | $ | 1,095 | $ | 985 | $ | 1,164 | |||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | Included in Selling, general and administrative expenses. | |||||||
| 3 | Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. | |||||||
| 4 | Included in Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. | |||||||
| 5 | Included in Cost of products and services sold. | |||||||
| 6 | Includes acquisition-related fair value adjustments to inventory and third-party transaction and integration costs. | |||||||
| 7 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. Included in Net sales, Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. | |||||||
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | ||||||||||||||
| Operating income | $ | 1,171 | $ | 5,247 | $ | 2,173 | $ | 5,268 | |||||||||
Stock compensation expense2 | 153 | 54 | 153 | 41 | |||||||||||||
Repositioning, Other3,4 | 390 | 304 | 147 | 145 | |||||||||||||
Pension and other postretirement service costs4 | 57 | 19 | 46 | 19 | |||||||||||||
Amortization of acquisition-related intangibles5 | 509 | 64 | 374 | 41 | |||||||||||||
Acquisition-related costs5,6 | 2 | — | 25 | — | |||||||||||||
Indefinite-lived intangible asset impairment5 | 44 | — | 48 | — | |||||||||||||
| Impairment of goodwill | 724 | — | — | — | |||||||||||||
| Impairment of assets held for sale | 270 | — | 219 | — | |||||||||||||
Loss on Quantinuum7 | 187 | — | 142 | — | |||||||||||||
| Segment profit | $ | 3,507 | $ | 5,688 | $ | 3,327 | $ | 5,514 | |||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | Included in Selling, general and administrative expenses. | |||||||
| 3 | Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. | |||||||
| 4 | Included in Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. | |||||||
| 5 | Included in Cost of products and services sold. | |||||||
| 6 | Includes acquisition-related fair value adjustments to inventory and third-party transaction and integration costs. | |||||||
| 7 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. Included in Net sales, Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. | |||||||
We define operating income as net sales less total cost of products and services sold, research and development expenses, selling, general and administrative expenses, impairment of goodwill, and impairment of assets held for sale. We define segment profit, on an overall Honeywell Technologies basis, as operating income, excluding stock compensation expense, pension and other postretirement service costs, amortization of acquisition-related intangibles, certain acquisition- and divestiture-related costs and impairments, repositioning and other charges, and the results of Quantinuum. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.
Honeywell International Inc.
Reconciliation of Earnings per Share to Adjusted Earnings per Share
(Unaudited)
| Three Months Ended March 31, 2026 | ||||||||
| Continuing Operations | Discontinued Operations(1) | |||||||
Earnings per share of common stock - diluted2 | $ | 0.09 | $ | 1.20 | ||||
Pension income3 | (0.10) | (0.09) | ||||||
Amortization of acquisition-related intangibles4 | 0.16 | 0.03 | ||||||
Divestiture-related costs5 | 0.05 | 0.26 | ||||||
Debt restructuring costs6 | 0.35 | — | ||||||
Impairment of assets held for sale7 | 0.31 | — | ||||||
Gain on sale of business8 | (0.01) | — | ||||||
ERP Implementation costs9 | 0.01 | — | ||||||
Loss on Quantinuum10 | 0.03 | — | ||||||
| Adjusted earnings per share of common stock - diluted | $ | 0.89 | $ | 1.40 | ||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | For the three months ended March 31, 2026, adjusted earnings per share utilizes weighted average shares of approximately 638.4 million. | |||||||
| 3 | For the three months ended March 31, 2026, continuing operations pension income was $65 million, net of tax expense of $20 million. For the three months ended March 31, 2026, discontinued operations pension income was $60 million, net of tax expense of $19 million. | |||||||
| 4 | For the three months ended March 31, 2026, continuing operations acquisition-related intangibles amortization was $99 million, net of tax benefit of $30 million. For the three months ended March 31, 2026, discontinued operations acquisition-related intangibles amortization was $18 million, net of tax benefit of $6 million. | |||||||
| 5 | For the three months ended March 31, 2026, the continuing operations adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, was $29 million as reported, net of tax benefit of approximately $124 million. For the three months ended March 31, 2026, discontinued operations divestiture-related costs was $175 million, net of tax benefit of approximately $25 million. | |||||||
| 6 | For the three months ended March 31, 2026, the adjustment for debt restructuring costs was $226 million, net of tax benefit of $70 million. | |||||||
| 7 | For the three months ended March 31, 2026, the impairment charge of assets held for sale was $200 million, net of tax benefit of $63 million. | |||||||
| 8 | For the three months ended March 31, 2026, the adjustment for gain on sale of the personal protective equipment business was $6 million, without tax benefit. | |||||||
| 9 | For the three months ended March 31, 2026, the adjustment for ERP implementation costs was $5 million, net of tax benefit of $1 million. | |||||||
| 10 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. For the three months ended March 31, 2026, the adjustment for Quantinuum was $17 million, net of tax benefit of $8 million. | |||||||
| Three Months Ended March 31, | |||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | ||||||||||||||
Earnings per share of common stock - diluted2 | $ | 0.40 | $ | 1.82 | $ | 0.50 | $ | 1.73 | |||||||||
Pension income3 | (0.07) | (0.09) | (0.09) | (0.08) | |||||||||||||
Amortization of acquisition-related intangibles4 | 0.14 | 0.02 | 0.07 | 0.01 | |||||||||||||
Acquisition-related costs5 | 0.01 | — | 0.07 | (0.06) | |||||||||||||
Divestiture-related costs6 | 0.08 | — | — | — | |||||||||||||
Russia-related costs7 | — | — | 0.02 | — | |||||||||||||
Impairment of assets held for sale8 | 0.02 | — | — | — | |||||||||||||
Loss on Quantinuum9 | 0.01 | — | 0.01 | — | |||||||||||||
| Adjusted earnings per share of common stock - diluted | $ | 0.59 | $ | 1.75 | $ | 0.58 | $ | 1.60 | |||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | For the three months ended March 31, 2025, and 2024, adjusted earnings per share utilizes weighted average shares of approximately 651.7 million and 656.6 million. | |||||||
| 3 | For the three months ended March 31, 2025, and 2024, continuing operations pension income was $49 million and $57 million, net of tax expense of $16 million and $17 million, respectively. For the three months ended March 31, 2025, and 2024, discontinued operations pension income was $58 million and $53 million, net of tax expense of $17 million and $18 million, respectively. | |||||||
| 4 | For the three months ended March 31, 2025, and 2024, continuing operations acquisition-related intangibles amortization was $88 million and $50 million, net of tax benefit of $28 million and $10 million, respectively. For the three months ended March 31, 2025, and 2024, discontinued operations acquisition-related intangibles amortization was $15 million and $5 million, net of tax benefit of $5 million and $5 million, respectively. | |||||||
| 5 | For the three months ended March 31, 2025, the continuing operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs, is $6 million, net of tax benefit of $2 million. For the three months ended March 31, 2024, the continuing operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs, is $43 million, net of tax expense of $38 million. For the three months ended March 31, 2024, the discontinued operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs, is $39 million, net of tax benefit of $39 million. | |||||||
| 6 | For the three months ended March 31, 2025, the continuing operations adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, was $54 million, net of tax expense of approximately $45 million. | |||||||
| 7 | For the three months ended March 31, 2024, the adjustment is a $17 million expense, without tax benefit, due to the settlement of a contractual dispute with a Russian entity associated with the Company’s suspension and wind down activities in Russia. | |||||||
| 8 | For the three months ended March 31, 2025, the impairment charge of assets held for sale was $15 million, without tax benefit. | |||||||
| 9 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. For the three months ended March 31, 2025 and 2024, the adjustment for Quantinuum was $8 million and $8 million, net of tax benefit of $4 million and $4 million, respectively. | |||||||
| Three Months Ended June 30, | |||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | ||||||||||||||
Earnings per share of common stock - diluted2 | $ | 0.60 | $ | 1.85 | $ | 0.54 | $ | 1.82 | |||||||||
Pension income3 | (0.01) | (0.09) | (0.08) | (0.08) | |||||||||||||
Amortization of acquisition-related intangibles4 | 0.13 | 0.03 | 0.09 | 0.01 | |||||||||||||
Acquisition-related costs5 | — | — | 0.09 | (0.06) | |||||||||||||
Divestiture-related costs6 | 0.09 | 0.01 | — | — | |||||||||||||
Loss (gain) on sale of business7 | 0.04 | — | — | — | |||||||||||||
Loss on Quantinuum8 | 0.03 | — | 0.02 | — | |||||||||||||
| Adjusted earnings per share of common stock - diluted | $ | 0.88 | $ | 1.80 | $ | 0.66 | $ | 1.69 | |||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | For the three months ended June 30, 2025, and 2024, adjusted earnings per share utilizes weighted average shares of approximately 640.9 million and 654.2 million. | |||||||
| 3 | For the three months ended June 30, 2025, and 2024, continuing operations pension income was $7 million and $52 million, net of tax expense of $3 million and $15 million, respectively. For the three months ended June 30, 2025, and 2024, discontinued operations pension income was $58 million and $55 million, net of tax expense of $17 million and $18 million, respectively. | |||||||
| 4 | For the three months ended June 30, 2025, and 2024, continuing operations acquisition-related intangibles amortization was $86 million and $58 million, net of tax benefit of $27 million and $17 million, respectively. For the three months ended June 30, 2025, and 2024, discontinued operations acquisition-related intangibles amortization was $15 million and $8 million, net of tax benefit of $5 million and $2 million, respectively. | |||||||
| 5 | For the three months ended June 30, 2024, the continuing operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is $62 million, net of tax expense of $34 million. For the three months ended June 30, 2024, the discontinued operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is $40 million, net of tax benefit of $41 million. | |||||||
| 6 | For the three months ended June 30, 2025, the continuing operations adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, was $54 million, net of tax expense of approximately $14 million. For the three months ended June 30, 2025, discontinued operations divestiture-related costs was $8 million, net of tax benefit of approximately $33 million. | |||||||
| 7 | For the three months ended June 30, 2025, the adjustment for loss on sale of the personal protective equipment business was $28 million, net of tax benefit of $2 million. | |||||||
| 8 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. For the three months ended June 30, 2025 and 2024, the adjustment for Quantinuum was $16 million and $11 million, net of tax benefit of $7 million and $5 million, respectively. | |||||||
| Three Months Ended September 30, | |||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | ||||||||||||||
Earnings per share of common stock - diluted2 | $ | 1.50 | $ | 1.36 | $ | 0.37 | $ | 1.79 | |||||||||
Pension income3 | (0.09) | (0.09) | (0.09) | (0.08) | |||||||||||||
Amortization of acquisition-related intangibles4 | 0.16 | 0.01 | 0.13 | 0.01 | |||||||||||||
Acquisition-related costs5 | 0.03 | — | 0.07 | (0.04) | |||||||||||||
Divestiture-related costs6 | 0.28 | 0.32 | — | — | |||||||||||||
Indefinite-lived intangible asset impairment7 | — | — | 0.06 | — | |||||||||||||
Impairment of assets held for sale8 | — | — | 0.19 | — | |||||||||||||
Gain related to Resideo indemnification and reimbursement agreement termination9 | (1.26) | — | — | — | |||||||||||||
Adjustment to estimated future environmental liabilities10 | 0.03 | 0.22 | — | — | |||||||||||||
Loss on settlement of divestiture of asbestos liabilities11 | 0.17 | — | — | — | |||||||||||||
Loss on Quantinuum12 | 0.02 | — | 0.02 | — | |||||||||||||
| Adjusted earnings per share of common stock - diluted | $ | 0.84 | $ | 1.82 | $ | 0.75 | $ | 1.68 | |||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | For the three months ended September 30, 2025, and 2024, adjusted earnings per share utilizes weighted average shares of approximately 638.8 million and 654.1 million. | |||||||
| 3 | For the three months ended September 30, 2025, and 2024, continuing operations pension income was $57 million and $58 million, net of tax expense of $18 million and $19 million, respectively. For the three months ended September 30, 2025, and 2024, discontinued operations pension income was $57 million and $52 million, net of tax expense of $17 million and $16 million, respectively. | |||||||
| 4 | For the three months ended September 30, 2025, and 2024, continuing operations acquisition-related intangibles amortization was $102 million and $87 million, net of tax benefit of $33 million and $23 million, respectively. For the three months ended September 30, 2025, and 2024, discontinued operations acquisition-related intangibles amortization was $5 million and $8 million, net of tax benefit of $1 million and $2 million, respectively. | |||||||
| 5 | For the three months ended September 30, 2025, and 2024, the continuing operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is $17 million and $47 million, net of tax benefit of $5 million, and net of tax expense of $23 million. For the three months ended September 30, 2024, the discontinued operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is $27 million, net of tax benefit of $28 million. | |||||||
| 6 | For the three months ended September 30, 2025, the continuing operations adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, was $180 million, net of tax expense of approximately $122 million. For the three months ended September 30, 2025, discontinued operations divestiture-related costs was $202 million, net of tax benefit of approximately $7 million. | |||||||
| 7 | For the three months ended September 30 2024, the impairment charge of indefinite-lived intangible assets associated with the personal protective equipment business was $37 million, net of tax benefit of $11 million. | |||||||
| 8 | For the three months ended September 30, 2024, the impairment charge of assets held for sale was $125 million, without tax benefit. | |||||||
| 9 | For the three months ended September 30, 2025, the gain related to the Resideo indemnification and reimbursement agreement termination was $802 million, without tax expense. | |||||||
| 10 | In the three months ended September 30, 2025, the Company enhanced its process for estimating environmental liabilities at sites undergoing active remediation, which led to earlier recognition of the estimated probable liabilities and an increase to estimated environmental liabilities. For the three months ended September 30, 2025, the continuing operations adjustment to increase environmental liabilities was $22 million, net of tax benefit of $7 million. For the twelve months ended December 31, 2025, the discontinued operations adjustment to increase environmental liabilities was $139 million, net of tax benefit $43 million. | |||||||
| 11 | For the three months ended September 30, 2025, the adjustment for loss on settlement of divestiture of asbestos liabilities was $112 million, net of tax benefit of $36 million. | |||||||
| 12 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. For the three months ended September 30, 2025 and 2024, the adjustment for Quantinuum was $16 million and $10 million, net of tax benefit of $6 million and $5 million, respectively. | |||||||
| Three Months Ended December 31, | |||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | ||||||||||||||
Earnings per share of common stock - diluted2 | $ | (0.88) | $ | 0.70 | $ | 0.58 | $ | 1.38 | |||||||||
Pension expense (income)3 | 0.11 | (0.12) | 0.04 | (0.08) | |||||||||||||
Amortization of acquisition-related intangibles4 | 0.17 | 0.02 | 0.15 | 0.01 | |||||||||||||
Acquisition-related costs5 | 0.02 | — | 0.09 | (0.07) | |||||||||||||
Divestiture-related costs6 | (0.04) | 0.53 | — | 0.04 | |||||||||||||
Indefinite-lived intangible asset impairment7 | 0.07 | — | — | — | |||||||||||||
Impairment of goodwill8 | 1.13 | — | — | — | |||||||||||||
Impairment of assets held for sale9 | 0.31 | — | 0.14 | — | |||||||||||||
Flexjet-related litigation matters10 | — | 0.47 | — | — | |||||||||||||
Loss on Quantinuum11 | 0.03 | — | 0.02 | — | |||||||||||||
| Adjusted earnings per share of common stock - diluted | $ | 0.92 | $ | 1.60 | $ | 1.02 | $ | 1.28 | |||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | For the three months ended December 31, 2025, and 2024, adjusted earnings per share utilizes weighted average shares of approximately 638.6 million and 654.8 million. | |||||||
| 3 | For the three months ended December 31, 2025, and 2024, continuing operations pension expense was $73 million and $26 million, net of tax benefit of $12 million and $7 million, respectively. For the three months ended December 31, 2025, and 2024, discontinued operations pension income was $79 million and $55 million, net of tax expense of $13 million and $14 million, respectively. | |||||||
| 4 | For the three months ended December 31, 2025, and 2024, continuing operations acquisition-related intangibles amortization was $110 million and $97 million, net of tax benefit of $35 million and $32 million, respectively. For the three months ended December 31, 2025, and 2024, discontinued operations acquisition-related intangibles amortization was $14 million, net of tax benefit of $4 million, and $11 million, without tax benefit, respectively. | |||||||
| 5 | For the three months ended December 31, 2025, the continuing operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is $13 million, net of tax benefit of $4 million. For the three months ended December 31, 2024, the continuing operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is $61 million, net of tax expense of $47 million. For the three months ended December 31, 2024, the discontinued operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is $48 million, net of tax benefit of $50 million. | |||||||
| 6 | For the three months ended December 31, 2025, the continuing operations adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, was $27 million, net of tax benefit of approximately $150 million. For the three months ended December 31, 2025, discontinued operations divestiture-related costs was $341 million, net of tax expense of approximately $138 million. | |||||||
| 7 | For the three months ended December 31, 2025, the impairment charge of assets held for sale was $44 million, without tax benefit. | |||||||
| 8 | For the three months ended December 31, 2025, the impairment charge of goodwill associated with the Industrial Automation reportable segment was $724 million, without tax benefit. | |||||||
| 9 | For the three months ended December 31, 2025, the impairment charge of assets held for sale was $194 million, net of tax benefit of $61 million. For the three months ended December 31, 2024, the impairment charge of assets held for sale was $94 million, without tax benefit. | |||||||
| 10 | For the three months ended December 31, 2025, the adjustment for the Flexjet-related litigation matters was $302 million, net of tax benefit of $71 million. Management considers the nature and significance of these litigation matters to be unusual and not indicative of the Company's ongoing performance. | |||||||
| 11 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. For the three months ended December 31, 2025 and 2024, the adjustment for Quantinuum was $18 million and $12 million, net of tax expense of $8 million and $6 million, respectively. | |||||||
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | ||||||||||||||||
| Continuing Operations | Discontinued Operations1 | Continuing Operations | Discontinued Operations1 | ||||||||||||||
Earnings per share of common stock - diluted2 | $ | 1.62 | $ | 5.74 | $ | 1.99 | $ | 6.72 | |||||||||
Pension income3 | (0.06) | (0.39) | (0.22) | (0.33) | |||||||||||||
Amortization of acquisition-related intangibles4 | 0.60 | 0.08 | 0.45 | 0.04 | |||||||||||||
Acquisition-related costs5 | 0.05 | — | 0.32 | (0.23) | |||||||||||||
Divestiture-related costs6 | 0.41 | 0.85 | — | 0.04 | |||||||||||||
Russia related-charges7 | — | — | 0.03 | — | |||||||||||||
Indefinite-lived intangible asset impairment8 | 0.07 | — | 0.06 | — | |||||||||||||
Impairment of Goodwill9 | 1.13 | — | — | — | |||||||||||||
Impairment of assets held for sale10 | 0.33 | — | 0.33 | — | |||||||||||||
Loss on sale of business11 | 0.04 | — | — | — | |||||||||||||
Gain related to Resideo indemnification and reimbursement agreement termination12 | (1.25) | — | — | — | |||||||||||||
Adjustment to estimated future environmental liabilities13 | 0.03 | 0.22 | — | — | |||||||||||||
Loss on expected settlement of divestiture of asbestos liabilities14 | 0.17 | — | — | — | |||||||||||||
Flexjet-related litigation matters15 | — | 0.47 | — | — | |||||||||||||
Loss on Quantinuum16 | 0.09 | — | 0.06 | — | |||||||||||||
| Adjusted earnings per share of common stock - diluted | $ | 3.23 | $ | 6.97 | $ | 3.02 | $ | 6.24 | |||||||||
| 1 | Effective June 29, 2026, Honeywell International Inc. rebranded as Honeywell Technologies and completed the spin-off of its Aerospace Technologies business into an independent publicly traded company, Honeywell Aerospace Inc. In connection with the spin-off, the Aerospace Technologies business is reported as discontinued operations in all periods presented. Additionally, discontinued operations includes the results of the Advanced Materials (“AM”) business, which was spun-off into an independent, publicly traded company, Solstice Advanced Materials, on October 30, 2025. The AM business was previously presented as discontinued operations effective the fourth quarter of 2025. | |||||||
| 2 | For the twelve months ended December 31, 2025, and 2024, adjusted earnings per share utilizes weighted average shares of approximately 642.8 million and 655.3 million. | |||||||
| 3 | For the twelve months ended December 31, 2025, and 2024, continuing operations pension income was $40 million and $141 million, net of tax expense of $25 million and $44 million, respectively. For the twelve months ended December 31, 2025, and 2024, discontinued operations pension income was $252 million and $215 million, net of tax expense of $64 million and $66 million, respectively. | |||||||
| 4 | For the twelve months ended December 31, 2025, and 2024, continuing operations acquisition-related intangibles amortization was $386 million and $292 million, net of tax benefit of $123 million and $82 million, respectively. For the twelve months ended December 31, 2025, and 2024, discontinued operations acquisition-related intangibles amortization was $49 million and $32 million, net of tax benefit of $15 million and $9 million, respectively. | |||||||
| 5 | For the twelve months ended December 31, 2025, the continuing operations adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is $35 million, net of tax benefit of $10 million. For the twelve months ended December 31, 2024, the continued operations adjustment for acquisition-related costs is $213 million, net of tax expense of $142 million. For the twelve months ended December 31, 2024, the discontinued operations adjustment for acquisition-related costs is $154 million, net of tax benefit of $158 million. | |||||||
| 6 | For the twelve months ended December 31, 2025, the continuing operations adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, was $262 million, net of tax benefit of approximately $31 million. For the twelve months ended December 31, 2025, discontinued operations divestiture-related costs was $548 million, net of tax expense of approximately $56 million. | |||||||
| 7 | For the twelve months ended December 31, 2024, the adjustment is a $17 million expense, without tax benefit, due to the settlement of a contractual dispute with a Russian entity associated with the Company’s suspension and wind down activities in Russia. | |||||||
| 8 | For the twelve months ended December 31, 2025, the impairment charge of indefinite-lived intangible assets associated with the Industrial Automation reportable segment was $44 million, without tax benefit. For the twelve months ended December 31, 2024, the impairment charge of indefinite-lived intangible assets associated with the personal protective equipment business was $37 million, net of tax benefit of $11 million. | |||||||
| 9 | For the twelve months ended December 31, 2025, the impairment charge of goodwill associated with the Industrial Automation reportable segment was $724 million, without tax benefit. | |||||||
| 10 | For the twelve months ended December 31, 2025, the impairment charge of assets held for sale was $209 million, net of tax benefit of $61 million.For the twelve months ended December 31, 2024, the impairment charge of assets held for sale was $219 million, without tax benefit. | |||||||
| 11 | For the twelve months ended December 31, 2025, the adjustment for loss on sale of the personal protective equipment business was $28 million, net of tax benefit of $2 million. | |||||||
| 12 | For the twelve months ended December 31, 2025, the gain related to the Resideo indemnification and reimbursement agreement termination was $802 million, without tax expense. | |||||||
| 13 | In the twelve months ended December 31, 2025, the Company enhanced its process for estimating environmental liabilities at sites undergoing active remediation, which led to earlier recognition of the estimated probable liabilities and an increase to estimated environmental liabilities. For the twelve months ended December 31, 2025, the continuing operations adjustment to increase environmental liabilities was $22 million, net of tax benefit of $7 million. For the twelve months ended December 31, 2025, the discontinued operations adjustment to increase environmental liabilities was $139 million, net of tax benefit $43 million. | |||||||
| 14 | For the twelve months ended December 31, 2025, the adjustment for loss on settlement of divestiture of asbestos liabilities was $112 million, net of tax benefit of $36 million. | |||||||
| 15 | For the twelve months ended December 31, 2025, the adjustment for the Flexjet-related litigation matters was $302 million, net of tax benefit of $71 million. Management considers the nature and significance of these litigation matters to be unusual and not indicative of the Company's ongoing performance. | |||||||
| 16 | Includes losses attributable to the Company’s investment in Quantinuum, which does not meet the definition of an operating segment. For the twelve months ended December 31, 2025 and 2024, the adjustment for Quantinuum was $58 million and $41 million, net of tax benefit of $25 million and $20 million, respectively. | |||||||
We define adjusted earnings per share as diluted earnings per share adjusted to exclude various charges as listed above. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.
Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies.
Exhibit 99.3
HONEYWELL INTERNATIONAL INC.
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION
On June 29, 2026, Honeywell International Inc., a Delaware corporation (the “Company” or “Honeywell Technologies”), completed the previously-announced spin-off (the “Spin-Off”) of Honeywell Aerospace Inc., a Delaware corporation (“Aerospace”). Following the Spin-Off, Honeywell International Inc. now operates as Honeywell Technologies. Honeywell Technologies distributed all of the shares of Aerospace common stock on a pro rata basis to Honeywell Technologies shareowners. Each Honeywell Technologies shareowner received one share of Aerospace common stock for every two shares of Honeywell Technologies common stock held of record as of the close of business on June 15, 2026, except that they will receive cash in lieu of any fractional shares of Aerospace common stock that they would have received after application of such distribution ratio. Aerospace is now an independent publicly-traded company under the symbol “HONA” on the Nasdaq Stock Market LLC.
Honeywell Technologies entered into various agreements to effect the Spin-Off and provide for the relationship between Honeywell Technologies and Aerospace, including, among others, a separation and distribution agreement, a tax matters agreement, a trademark license agreement, and a transition services agreement.
After the date of the Spin-Off, Honeywell Technologies no longer consolidates Aerospace into its financial results. The historical financial results of Aerospace will be reflected in Honeywell Technologies’ consolidated financial statements as discontinued operations under generally accepted accounting principles in the United States of America (“GAAP”) for all periods beginning in the third quarter of 2026.
The unaudited Pro Forma Condensed Consolidated Financial Statements have been derived from the Company’s historical consolidated financial statements and give effect to the Spin-Off. The following unaudited Pro Forma Condensed Consolidated Statement of Operations for the three months ended March 31, 2026, and the years ended December 31, 2025, 2024, and 2023, reflect the results of operations as if the Spin-Off had occurred on January 1, 2023, in that they reflect the reclassification of Aerospace as discontinued operations for all periods presented. The adjustments in the “Transaction Accounting Adjustments” column in the unaudited Pro Forma Condensed Consolidated Statement of Operations for the three months ended March 31, 2026, and for the year ended December 31, 2025, give effect to the Spin-Off as if it had occurred on January 1, 2025. As a result, there are no transaction accounting adjustments for the years ended December 31, 2024, and 2023, respectively. The unaudited Pro Forma Condensed Consolidated Balance Sheet as of March 31, 2026, reflects the Company’s financial position as if the Spin-Off had occurred on March 31, 2026.
The unaudited Pro Forma Condensed Consolidated Financial Statements have been prepared based upon management’s estimates utilizing the best available information and are subject to the assumptions and adjustments described below and in the accompanying notes to the unaudited Pro Forma Condensed Consolidated Financial Statements. They are not intended to be a complete presentation of the Company’s financial position or results of operations had the Spin-Off occurred as of the dates indicated. In addition, the unaudited Pro Forma Condensed Consolidated Financial Statements are provided for illustrative and informational purposes only and are not necessarily indicative of the Company’s future results of operations or financial condition had the Spin-Off and related transactions been completed on the dates assumed. The actual financial position and results of operations may differ significantly from the pro forma amounts reflected herein due to a variety of factors. The unaudited Pro Forma Condensed Consolidated Financial Statements should be read in conjunction with the Company’s historical consolidated financial statements and accompanying notes.
The adjustments included within the “Aerospace Discontinued Operations” column of the unaudited Pro Forma Condensed Consolidated Financial Statements are consistent with the guidance for discontinued operations under GAAP. Honeywell Technologies’ current estimates on a discontinued operations basis are preliminary and could change as Honeywell Technologies finalizes discontinued operations accounting to be recorded in the 2026 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarter ended September 30, 2026.
The unaudited Pro Forma Condensed Consolidated Financial Statements have been prepared in accordance with Regulation S-X Article 11, Pro Forma Financial Information.
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
As of March 31, 2026
| March 31, 2026 (in millions) | As Reported | Aerospace Discontinued Operations (a) | Transaction Accounting Adjustments | Pro Forma | ||||||||||||||||||||||
| ASSETS | ||||||||||||||||||||||||||
| Current assets | ||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 11,977 | $ | (989) | $ | (11) | (b) | $ | 10,977 | |||||||||||||||||
| Short-term investments | 413 | — | — | 413 | ||||||||||||||||||||||
| Accounts receivable, less allowance of $165 | 8,062 | (3,330) | 4 | (e) | 4,736 | |||||||||||||||||||||
| Inventories | 6,369 | (4,634) | — | 1,735 | ||||||||||||||||||||||
| Assets held for sale | 2,377 | — | — | 2,377 | ||||||||||||||||||||||
| Other current assets | 1,392 | (335) | 9 | (i) | 1,066 | |||||||||||||||||||||
| Total current assets | 30,590 | (9,288) | 2 | 21,304 | ||||||||||||||||||||||
| Investments and long-term receivables | 1,414 | (116) | — | 1,298 | ||||||||||||||||||||||
| Property, plant and equipment—net | 4,664 | (2,170) | — | 2,494 | ||||||||||||||||||||||
| Goodwill | 21,079 | (3,023) | — | 18,056 | ||||||||||||||||||||||
| Other intangible assets—net | 6,562 | (1,550) | — | 5,012 | ||||||||||||||||||||||
| Deferred income taxes | 199 | (44) | — | 155 | ||||||||||||||||||||||
| Other assets | 9,480 | (4,920) | — | 4,560 | ||||||||||||||||||||||
| Total assets | $ | 73,988 | $ | (21,111) | $ | 2 | 52,879 | |||||||||||||||||||
| LIABILITIES | ||||||||||||||||||||||||||
| Current liabilities | ||||||||||||||||||||||||||
| Accounts payable | $ | 6,026 | $ | (2,633) | $ | — | $ | 3,393 | ||||||||||||||||||
| Commercial paper and other short-term borrowings | 4,630 | — | — | 4,630 | ||||||||||||||||||||||
| Current maturities of long-term debt | 3,099 | (5) | — | 3,094 | ||||||||||||||||||||||
| Accrued liabilities | 7,112 | (2,897) | 344 | (c)(i) | 4,559 | |||||||||||||||||||||
| Liabilities held for sale | 1,218 | — | — | 1,218 | ||||||||||||||||||||||
| Total current liabilities | 22,085 | (5,535) | 344 | 16,894 | ||||||||||||||||||||||
| Long-term debt | 29,010 | (15,846) | — | 13,164 | ||||||||||||||||||||||
| Deferred income taxes | 1,581 | (733) | (8) | (i) | 840 | |||||||||||||||||||||
| Postretirement benefit obligations other than pensions | 108 | — | — | 108 | ||||||||||||||||||||||
| Other liabilities | 6,537 | (2,330) | — | 4,207 | ||||||||||||||||||||||
| SHAREOWNERS' EQUITY | ||||||||||||||||||||||||||
| Capital—common stock issued | 958 | — | — | 958 | ||||||||||||||||||||||
| —additional paid-in capital | 10,480 | — | — | 10,480 | ||||||||||||||||||||||
| Common stock held in treasury, at cost | (43,904) | — | — | (43,904) | ||||||||||||||||||||||
| Accumulated other comprehensive (loss) | (4,973) | 870 | — | (4,103) | ||||||||||||||||||||||
| Retained earnings | 51,029 | 2,567 | (334) | (j) | 53,262 | |||||||||||||||||||||
| Total Honeywell shareowners’ equity | 13,590 | 3,437 | (334) | 16,693 | ||||||||||||||||||||||
| Noncontrolling interest | 1,077 | (104) | — | 973 | ||||||||||||||||||||||
| Total shareowners' equity | 14,667 | 3,333 | (334) | 17,666 | ||||||||||||||||||||||
| Total liabilities and shareowners' equity | $ | 73,988 | $ | (21,111) | $ | 2 | $ | 52,879 | ||||||||||||||||||
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
For the Three Months Ended March 31, 2026
| Three months ended March 31, 2026 (Dollars in millions, except per share amounts) | As Reported | Aerospace Discontinued Operations (a) | Transaction Accounting Adjustments | Pro Forma | ||||||||||||||||||||||
| Product sales | $ | 5,867 | $ | (2,391) | $ | — | $ | 3,476 | ||||||||||||||||||
| Service sales | 3,276 | (1,929) | — | 1,347 | ||||||||||||||||||||||
| Net sales | 9,143 | (4,320) | — | 4,823 | ||||||||||||||||||||||
| Costs, expenses and other | ||||||||||||||||||||||||||
| Cost of products sold | 3,863 | (1,809) | — | 2,054 | ||||||||||||||||||||||
| Cost of services sold | 1,741 | (899) | — | 842 | ||||||||||||||||||||||
| Total cost of products and services sold | 5,604 | (2,708) | — | 2,896 | ||||||||||||||||||||||
| Research and development expenses | 492 | (198) | — | 294 | ||||||||||||||||||||||
| Selling, general and administrative expenses | 1,310 | (257) | — | 1,053 | ||||||||||||||||||||||
| Impairment of assets held for sale | 263 | — | — | 263 | ||||||||||||||||||||||
| Loss on debt extinguishment | 239 | — | — | 239 | ||||||||||||||||||||||
| Other (income) expense | (7) | (90) | (40) | (d)(e)(f) | (137) | |||||||||||||||||||||
| Interest and other financial charges | 356 | (84) | (40) | (g) | 232 | |||||||||||||||||||||
| Total costs, expenses and other | 8,257 | (3,337) | (80) | 4,840 | ||||||||||||||||||||||
| Income from continuing operations before taxes | 886 | (983) | 80 | (17) | ||||||||||||||||||||||
| Tax expense | 91 | (209) | 15 | (h) | (103) | |||||||||||||||||||||
| Net income from continuing operations | 795 | (774) | 65 | 86 | ||||||||||||||||||||||
| Less: Net (loss) attributable to noncontrolling interest | (26) | (8) | — | (34) | ||||||||||||||||||||||
| Net income from continuing operations attributable to Honeywell | $ | 821 | $ | (766) | $ | 65 | $ | 120 | ||||||||||||||||||
| Weighted average shares outstanding (millions)—basic | 634.7 | 634.7 | ||||||||||||||||||||||||
| Earnings per share of common stock from continuing operations—basic | $ | 1.29 | $ | 0.19 | ||||||||||||||||||||||
| Weighted average shares outstanding (millions)—assuming dilution | 638.4 | 638.4 | ||||||||||||||||||||||||
| Earnings per share of common stock from continuing operations—assuming dilution | $ | 1.29 | $ | 0.19 | ||||||||||||||||||||||
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
For the Year Ended December 31, 2025
| Year ended December 31, 2025 (Dollars in millions, except per share amounts) | As Reported | Aerospace Discontinued Operations (a) | Transaction Accounting Adjustments | Pro Forma | ||||||||||||||||||||||
| Product sales | $ | 24,515 | $ | (9,936) | $ | — | $ | 14,579 | ||||||||||||||||||
| Service sales | 12,927 | (7,561) | — | 5,366 | ||||||||||||||||||||||
| Net sales | 37,442 | (17,497) | — | 19,945 | ||||||||||||||||||||||
| Costs, expenses and other | ||||||||||||||||||||||||||
| Cost of products sold | 16,153 | (7,731) | — | 8,422 | ||||||||||||||||||||||
| Cost of services sold | 7,460 | (3,817) | — | 3,643 | ||||||||||||||||||||||
| Total cost of products and services sold | 23,613 | (11,548) | — | 12,065 | ||||||||||||||||||||||
| Research and development expenses | 1,812 | (743) | — | 1,069 | ||||||||||||||||||||||
| Selling, general and administrative expenses | 5,450 | (804) | 17 | (d) | 4,663 | |||||||||||||||||||||
| Impairment of goodwill | 724 | — | — | 724 | ||||||||||||||||||||||
| Impairment of assets held for sale | 270 | — | — | 270 | ||||||||||||||||||||||
| Other (income) expense | (1,247) | 114 | (187) | (d)(e)(f) | (1,320) | |||||||||||||||||||||
| Interest and other financial charges | 1,344 | (344) | (212) | (g) | 788 | |||||||||||||||||||||
| Total costs, expenses and other | 31,966 | (13,325) | (382) | 18,259 | ||||||||||||||||||||||
| Income from continuing operations before taxes | 5,476 | (4,172) | 382 | 1,686 | ||||||||||||||||||||||
| Tax expense | 1,008 | (717) | 55 | (h) | 346 | |||||||||||||||||||||
| Net income from continuing operations | 4,468 | (3,455) | 327 | 1,340 | ||||||||||||||||||||||
| Less: Net income attributable to noncontrolling interest | 7 | (35) | — | (28) | ||||||||||||||||||||||
| Net income from continuing operations attributable to Honeywell | $ | 4,461 | $ | (3,420) | $ | 327 | $ | 1,368 | ||||||||||||||||||
| Weighted average shares outstanding (millions)—basic | 639.0 | 639.0 | ||||||||||||||||||||||||
| Earnings per share of common stock from continuing operations—basic | $ | 6.98 | $ | 2.14 | ||||||||||||||||||||||
| Weighted average shares outstanding (millions)—assuming dilution | 642.8 | 642.8 | ||||||||||||||||||||||||
| Earnings per share of common stock from continuing operations—assuming dilution | $ | 6.94 | $ | 2.13 | ||||||||||||||||||||||
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
For the Year Ended December 31, 2024
| Year ended December 31, 2024 (Dollars in millions, except per share amounts) | As Reported | Aerospace Discontinued Operations (a) | Pro Forma | ||||||||||||||
| Product sales | $ | 22,841 | $ | (8,497) | $ | 14,344 | |||||||||||
| Service sales | 11,876 | (6,939) | 4,937 | ||||||||||||||
| Net sales | 34,717 | (15,436) | 19,281 | ||||||||||||||
| Costs, expenses and other | |||||||||||||||||
| Cost of products sold | 15,017 | (6,427) | 8,590 | ||||||||||||||
| Cost of services sold | 6,343 | (3,426) | 2,917 | ||||||||||||||
| Total cost of products and services sold | 21,360 | (9,853) | 11,507 | ||||||||||||||
| Research and development expenses | 1,454 | (585) | 869 | ||||||||||||||
| Selling, general and administrative expenses | 5,235 | (722) | 4,513 | ||||||||||||||
| Impairment of assets held for sale | 219 | — | 219 | ||||||||||||||
| Other (income) expense | (843) | 338 | (505) | ||||||||||||||
| Interest and other financial charges | 1,048 | (251) | 797 | ||||||||||||||
| Total costs, expenses and other | 28,473 | (11,073) | 17,400 | ||||||||||||||
| Income from continuing operations before taxes | 6,244 | (4,363) | 1,881 | ||||||||||||||
| Tax expense | 1,249 | (664) | 585 | ||||||||||||||
| Net income from continuing operations | 4,995 | (3,699) | 1,296 | ||||||||||||||
| Less: Net income attributable to noncontrolling interest | 27 | (33) | (6) | ||||||||||||||
| Net income from continuing operations attributable to Honeywell | $ | 4,968 | $ | (3,666) | $ | 1,302 | |||||||||||
| Weighted average shares outstanding (millions)—basic | 650.9 | 650.9 | |||||||||||||||
| Earnings per share of common stock from continuing operations—basic | $ | 7.63 | $ | 2.00 | |||||||||||||
| Weighted average shares outstanding (millions)—assuming dilution | 655.3 | 655.3 | |||||||||||||||
| Earnings per share of common stock from continuing operations—assuming dilution | $ | 7.58 | $ | 1.99 | |||||||||||||
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
For the Year Ended December 31, 2023
| Year ended December 31, 2023 (Dollars in millions, except per share amounts) | As Reported | Aerospace Discontinued Operations (a) | Pro Forma | ||||||||||||||
| Product sales | $ | 22,345 | $ | (7,305) | $ | 15,040 | |||||||||||
| Service sales | 10,664 | (6,297) | 4,367 | ||||||||||||||
| Net sales | 33,009 | (13,602) | 19,407 | ||||||||||||||
| Costs, expenses and other | |||||||||||||||||
| Cost of products sold | 14,836 | (5,546) | 9,290 | ||||||||||||||
| Cost of services sold | 5,801 | (2,899) | 2,902 | ||||||||||||||
| Total cost of products and services sold | 20,637 | (8,445) | 12,192 | ||||||||||||||
| Research and development expenses | 1,375 | (547) | 828 | ||||||||||||||
| Selling, general and administrative expenses | 4,887 | (599) | 4,288 | ||||||||||||||
| Other (income) expense | (830) | 319 | (511) | ||||||||||||||
| Interest and other financial charges | 749 | (167) | 582 | ||||||||||||||
| Total costs, expenses and other | 26,818 | (9,439) | 17,379 | ||||||||||||||
| Income from continuing operations before taxes | 6,191 | (4,163) | 2,028 | ||||||||||||||
| Tax expense | 1,262 | (458) | 804 | ||||||||||||||
| Net income from continuing operations | 4,929 | (3,705) | 1,224 | ||||||||||||||
| Less: Net income attributable to noncontrolling interest | 16 | (28) | (12) | ||||||||||||||
| Net income from continuing operations attributable to Honeywell | $ | 4,913 | $ | (3,677) | $ | 1,236 | |||||||||||
| Weighted average shares outstanding (millions)—basic | 663.0 | 663.0 | |||||||||||||||
| Earnings per share of common stock from continuing operations—basic | $ | 7.41 | $ | 1.86 | |||||||||||||
| Weighted average shares outstanding (millions)—assuming dilution | 668.2 | 668.2 | |||||||||||||||
| Earnings per share of common stock from continuing operations—assuming dilution | $ | 7.36 | $ | 1.85 | |||||||||||||
NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
Aerospace Discontinued Operations:
(a)Reflects the discontinued operations of Aerospace, including the associated assets, liabilities, equity and results of operations in accordance with Accounting Standards Codification 205-20, Presentation of Financial Statements—Discontinued Operations.
Transaction Accounting Adjustments:
(b) Reflects the estimated cash Aerospace receives from Honeywell Technologies. The amount is based on the expectation that $1 billion will be retained by Aerospace in connection with the Spin-Off.
(c) Reflects the accrual for additional estimated nonrecurring costs of $243 million related to professional advisory services and other costs related to the Spin-Off we expect to incur between March 31, 2026 and the distribution date.
(d) Reflects the effect of the transition services agreement Honeywell Technologies entered into with Aerospace. The expenses related to services to be provided to Honeywell Technologies by Aerospace of $17 million are recorded in Selling, general and administrative expenses for the year ended December 31, 2025. The income related to services to be provided to Aerospace by Honeywell Technologies of $3 million and $37 million is in Other (income) expense for the three months ended March 31, 2026, and year ended December 31, 2025, respectively.
(e) Reflects the net impact of sub-lease arrangements Honeywell Technologies entered into with Aerospace in connection with the Spin-Off. The adjustment records $4 million of rent receivables within Accounts receivable as of March 31, 2026. The adjustment also records $1 million and $4 million of related operating lease income within Other (income) expense for the three months ended March 31, 2026, and the year ended December 31, 2025, respectively.
(f) Reflects the impacts of the trademark license agreement Honeywell Technologies entered into with Aerospace. The adjustment records income of $36 million and $146 million within Other (income) expense for the three months ended March 31, 2026, and the year ended December 31, 2025, respectively.
(g) On March 16, 2026, in connection with the Spin-Off, Aerospace issued $16.0 billion of senior unsecured notes and distributed $6.0 billion of the senior unsecured notes that were exchange notes and $9.1 billion of cash proceeds from the senior unsecured notes that were new money notes to Honeywell Technologies. Honeywell Technologies used $13.0 billion related to such distributions to repay third-party debt. Interest expense was reduced by an estimated $40 million and $212 million for the three months ended March 31, 2026, and the year ended December 31, 2025, respectively, associated with the borrowings repaid.
(h) Reflects the income tax effect of the pro forma adjustments. This adjustment was calculated by applying the statutory tax rates in the respective jurisdictions to each of the pre-tax pro forma transaction accounting adjustments. Computation of the pro forma tax effect also reflects the effects of taxable limitation provisions under U.S. federal income tax law.
(i) Reflects an additional $9 million of estimated tax assets within Other current assets and an additional $92 million of estimated tax liabilities within Accrued Liabilities related to frictional tax costs expected to be incurred before the distribution date. There is also an $8 million decrease to the deferred tax liability reflecting an increase in our U.S. foreign tax credit carryforwards due to certain frictional tax costs that are expected to be creditable in the U.S.
(j) Reflects the effect on total shareowners’ equity of the adjustments described in notes (b) through (i) above.