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Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2023

USD ($)

$ / shares

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

Dec. 31, 2020

USD ($)

$ / shares

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table


											Value of Initial Fixed $100 Investment Based on:									CSM: Segment Margin (i)
Year (a)	Summary Comp Table Total for PEO — Kapur (b)(1)	Comp Actually Paid to PEO — Kapur (c)(2),(3),(4)	Summary Comp Table Total for PEO— Adamczyk (b)(1)		Comp Actually Paid to PEO — Adamczyk (c)(2),(3),(5)		Avg. Summary Comp Table for Non-PEO NEOs (d)(1)	Avg. Comp Actually Paid to Non-PEO NEOs (e)(2),(3),(6)			Total Shareholder Return ($)(f)			Peer Group Total Shareholder Return (Composite) (g)			Net Income (in millions) (h)
2023	$14,401,630	$14,757,418	$	23,029,368	$	21,520,786	$6,531,247		$	6,230,330		$	128.65		$	149.80		$	5,672		22.7	%
2022	-	-	25,437,598		36,729,811		8,310,085		11,405,134			128.62			126.81			4,967			21.7	%
2021	-	-	26,100,120		15,687,973		7,489,516		5,024,129			122.61			134.29			5,610			21.0	%
2020	-	-	19,075,281		34,603,009		6,138,970		11,366,412			122.97			110.91			4,865			20.4	%

Named Executive Officers, Footnote

The PEO(s) and Non-PEO NEOs included in the above compensation columns reflect the following:


Year	PEO (CEO)	Non-PEO NEOs
2023	Vimal Kapur, Darius Adamczyk	Gregory P. Lewis, Anne T. Madden, Lucian Boldea, James Currier
2022	Darius Adamczyk	Gregory P. Lewis, Anne T. Madden, Vimal Kapur, Lucian Boldea
2021	Darius Adamczyk	Gregory P. Lewis, Anne T. Madden, Que Thanh Dallara, Michael R. Madsen
2020	Darius Adamczyk	Gregory P. Lewis, Anne T. Madden, Rajeev Gautam, John F. Waldron

PEO Total Compensation Amount

PEO Actually Paid Compensation Amount

36,729,811

15,687,973

34,603,009

Adjustment To PEO Compensation, Footnote

Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (1) for RSU awards, including reinvested dividend equivalent units, closing price on applicable year-end dates or, in the case of vesting dates, the actual vesting price, (2) for PSU awards (excluding TSR portion of the PSU award), the same valuation methodology as RSU awards above except year-end and vesting date values are multiplied by the forecasted performance factor as of each such date, and include reinvested dividend equivalent units, (3) for the TSR-based portion of the PSU awards, the fair value calculated by a Monte Carlo simulation model as of the applicable year-end date(s) or, in the case of vesting date, the actual vesting price and performance factor, and (4) for stock options, the fair value calculated by a Black-Scholes model as of the applicable year-end or vesting date(s), determined based on the same methodology as used to determine grant date fair values but using the closing stock price on the applicable revaluation date as the current market price, and in all cases based on volatility, dividend rates, and risk free rates determined as of the revaluation date.

(3)For the portion of “Compensation Actually Paid” that is based on year-end stock prices, the following prices were used: for 2023: $209.71 (2.1% decrease from prior year), for 2022: $214.30 (2.8% increase from prior year), for 2021: $208.51 (2.0% decrease from prior year), and for 2020: $212.70 (20.2% increase from prior year).

The dollar amounts reported for Mr. Kapur under “Compensation Actually Paid” represent the amount of “compensation actually paid” to Mr. Kapur for 2023, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Kapur during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the adjustments in the table below were made to Mr. Kapur's compensation for each year to determine the compensation actually paid:


			PEO — Kapur ($)
			2023
Total Reported in Summary Compensation Table (SCT)			$14,401,630
Less, Value of Stock & Option Awards Reported in SCT			(10,040,327)
Less, Change in Pension Value and Non-Qualified Deferred Compensation Earnings in SCT			(283,838)
Plus, Pension Service Cost			94,485
Plus, Year-End Value of Awards Granted in Fiscal Year that are Unvested and Outstanding			10,811,208
Plus, Change in Fair Value of Prior Year Awards that are Outstanding and Unvested			467,763
Plus, FMV of Awards Granted this Year and that Vested this Year			-
Plus, Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year			(693,504)
Less, Prior Year Fair Value of Prior Year Awards that Failed to Vest this Year			-
Total Adjustments			355,788
“Compensation Actually Paid” to PEO — Kapur			14,757,418

The dollar amounts reported for Mr. Adamczyk under “Compensation Actually Paid” represent the amount of “compensation actually paid” to Mr. Adamczyk, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Adamczyk during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the adjustments in the table below were made to Mr. Adamczyk’s total compensation for each year to determine the compensation actually paid:


	PEO — Adamczyk ($)
	2023		2022		2021		2020
Total Reported in Summary Compensation Table (SCT)	$	23,029,368	$	25,437,598	$	26,100,120	$	19,075,281
Less, Value of Stock & Option Awards Reported in SCT	(18,000,300)		(18,994,812)		(19,734,739)		(14,012,084)
Less, Change in Pension Value and Non-Qualified Deferred Compensation Earnings in SCT	(515,490)		(757,453)		(608,232)		(810,840)
Plus, Pension Service Cost	59,709		189,227		337,104		302,024
Plus, Year-End Value of Awards Granted in Fiscal Year that are Unvested and Outstanding	18,914,098		22,196,690		14,602,954		22,994,843
Plus, Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	2,029,201		9,053,140		(1,770,930)		11,314,396
Plus, FMV of Awards Granted this Year and that Vested this Year	-		-		-		-
Plus, Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	(3,995,801)		(394,579)		(3,238,305)		(4,260,611)
Less, Prior Year Fair Value of Prior Year Awards that Failed to Vest this Year	-		-		-		-
Total Adjustments	(1,508,582)		11,292,213		(10,412,147)		15,527,728
“Compensation Actually Paid” to PEO — Adamczyk	21,520,786		36,729,811		15,687,973		34,603,009

Non-PEO NEO Average Total Compensation Amount

$ 6,531,247

8,310,085

7,489,516

6,138,970

Non-PEO NEO Average Compensation Actually Paid Amount

$ 6,230,330

11,405,134

5,024,129

11,366,412

Adjustment to Non-PEO NEO Compensation Footnote

The dollar amounts reported under Average Compensation Actually Paid for Non-PEO NEOs represent the average amount of "compensation actually paid" to the Non-PEO NEOs as a group (excluding the PEOs), as computed in accordance with Items 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the Non-PEO NEOs as a group during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the adjustments in the table below were made to the Non-PEO NEOs' total compensation for each year to determine the compensation actually paid:


	Non-PEO NEOs Average ($)
	2023		2022		2021		2020
Total Reported in Summary Compensation Table (SCT)	$	6,531,247	$	8,310,085	$	7,489,516	$	6,138,970
Less, Value of Stock & Option Awards Reported in SCT	(4,410,961)		(6,206,612)		(5,394,884)		(4,077,093)
Less, Change in Pension Value and Non-Qualified Deferred Compensation Earnings in SCT	(228,752)		(257,602)		(151,402)		(327,288)
Plus, Pension Service Cost	61,265		44,745		82,389		92,707
Plus, Year-End Value of Awards Granted in Fiscal Year that are Unvested and Outstanding	4,710,290		7,905,172		3,998,779		6,691,235
Plus, Change in Fair Value of Prior Year Awards that are Outstanding and Unvested	282,769		1,771,263		(475,089)		3,704,102
Plus, FMV of Awards Granted this Year and that Vested this Year	-		-		-		-
Plus, Change in Fair Value (from Prior Year-End) of Prior Year Awards that Vested this Year	(715,527)		(161,917)		(525,181)		(856,220)
Less, Prior Year Fair Value of Prior Year Awards that Failed to Vest this Year	-		-		-		-
Total Adjustments	(300,916)		3,095,050		(2,465,387)		5,227,443
Average “Compensation Actually Paid” to Non-PEO NEOs	6,230,330		11,405,134		5,024,129		11,366,412

Compensation Actually Paid vs. Total Shareholder Return

CAP versus TSR

As shown in the chart below, the PEO’s and average non-PEO NEOs’ CAP values are reasonably aligned with Honeywell's TSR. This is primarily due to the Honeywell’s use of Performance Shares (PSUs), NQSOs, and Restricted Stock Units (RSUs), which are tied directly to stock price and the Company’s financial performance. The lower CAP values for 2023 are reflective of annual 2023 TSR being flat as of the December 31, 2023 measurement date.

CAP vs HONEYWELL TSR

Compensation Actually Paid vs. Net Income

CAP versus Net Income

The charts below reflect the relationship between PEO CAP and Average Non-PEO NEOs CAP and Honeywell’s GAAP net income. The Company does not use net income to determine compensation levels, incentive plan payouts, or as a metric in our long-term incentive plans. Since long-term incentives comprise the largest portion of our NEOsʼ pay, and CAP values include multiple years of LTI awards, and only one year of annual incentives, the relationship between CAP and net income is less evident.

CAP vs NET INCOME

Compensation Actually Paid vs. Company Selected Measure

CAP versus Segment Margin

The chart below reflects the relationship between the PEO CAP and Average Non-PEO NEOs CAP and Honeywell’s segment margin for the applicable reporting year. We continue to execute in delivering meaningful year-over-year improvements in our segment margin rate performance. We consider segment margin to be the most important financial measure used to link pay to performance due to the strong correlation with long-term share price growth.

CAP vs SEGMENT MARGIN

Total Shareholder Return Vs Peer Group

TSR: Company versus Peer Group

The chart below shows the Company’s TSR as well as that of our comparator index, the Nasdaq Industrial Select Sector Index (XLI), over a 4-year period.

TOTAL SHAREHOLDER RETURN: HONEYWELL vs XLI

Tabular List, Table


Most Important Financial Metrics
Adjusted Earnings Per Share
Average Segment Margin
Free Cash Flow
Cumulative Revenue
Average Return on Investment
Relative Total Shareholder Return

Total Shareholder Return Amount

$ 128.65

128.62

122.61

122.97

Peer Group Total Shareholder Return Amount

149.80

126.81

134.29

110.91

Net Income (Loss)

$ 5,672,000,000

$ 4,967,000,000

$ 5,610,000,000

$ 4,865,000,000

Company Selected Measure Amount

0.227

0.217

0.210

0.204

PEO Name

Darius Adamczyk

Additional 402(v) Disclosure

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information regarding executive pay and performance. The table below shows pay both as reported in the Summary Compensation Table (Summary Comp Table Total) for the applicable fiscal year and as “compensation actually paid” (CAP) for our principal executive officer(s) (PEO) and as an average of all of our other named executive officers (Non-PEO NEOs) for the applicable fiscal year. Both Summary Comp Table Total pay and CAP are calculated in accordance with the requirements of Regulation S-K and may differ substantially from the manner in which the MDCC makes executive compensation decisions, which is described in the Compensation Discussion and Analysis beginning on page 49.

The table below also shows (i) Honeywell’s cumulative total shareholder return (TSR), (ii) the TSR of the Nasdaq Industrial Select Sector Index (XLI), which we have used as our peer group for purposes of this table, (iii) Honeywell’s net income for the applicable fiscal year, and (iv) Honeywell’s performance with respect to a company-selected measure (CSM), which in our assessment represents the single most important financial performance metric used to link compensation actually paid to our NEOs for the most recently completed fiscal year to Honeywell’s performance. We selected segment margin as the CSM for the 2023 fiscal year.

The six items listed below represent the most important financial performance metrics we used to determine CAP for FY2023 as further described in our Compensation Discussion and Analysis within the sections titled “Annual Incentive Compensation Plan Decisions” and “Long-Term Incentive Compensation Decisions.”

The graphs below illustrate the relationships between, respectively, our TSR and the TSR of our peer group, CAP and our TSR, CAP and our net income, and CAP and the CSM (segment margin).

Stock Price | $ / shares

$ 209.71

$ 214.30

$ 208.51

$ 212.70

Increase (Decrease) in Stock Price

2.10%

2.80%

2.00%

20.20%

Measure:: 1

Pay vs Performance Disclosure