Earnings Per Share

6 Months Ended

Jun. 30, 2011

Note 6. Earnings Per Share

The details of the earnings per share calculations for the three and six months ended June 30, 2011 and 2010 are as follows:

		Three Months Ended				Six Months Ended
		June 30				June 30
Basic		2011		2010		2011		2010

Income from continuing operations	$	796	$	550	$	1,483	$	1,021
Income from discontinued operations		14		16		32		34
Net income attributable to Honeywell		810		566		1,515		1,055

Weighted average shares outstanding		785.0		769.6		785.2		767.7

Earnings per share of common stock
Income from continuing operations		1.01		0.72		1.89		1.33
Income from discontinued operations		0.02		0.02		0.04		0.04
Net income attributable to Honeywell	$	1.03	$	0.74	$	1.93	$	1.37


		Three Months Ended				Six Months Ended
		June 30				June 30
Assuming Dilution		2011		2010		2011		2010

Income from continuing operations	$	796	$	550	$	1,483	$	1,021
Income from discontinued operations		14		16		32		34
Net income attributable to Honeywell		810		566		1,515		1,055

Average Shares
Weighted average shares outstanding		785.0		769.6		785.2		767.7
Dilutive securities issuable - stock plans		12.3		7.7		12.3		6.8
Total weighted average shares outstanding		797.3		777.3		797.5		774.5

Earnings per share of common stock
Income from continuing operations		1.00		0.71		1.86		1.32
Income from discontinued operations		0.02		0.02		0.04		0.04
Net income attributable to Honeywell	$	1.02	$	0.73	$	1.90	$	1.36

The diluted earnings per share calculations exclude the effect of stock options when the options' assumed proceeds exceed the average market price of the common shares during the period. For the three and six months ended June 30, 2011, the weighted average number of stock options excluded from the computations were 7.9 and 7.5 million, respectively. For the three and six months ended June 30, 2010, the weighted average number of stock options excluded from the computations were 14.8 and 16.6 million, respectively. These stock options were outstanding at the end of each of the respective periods