SEGMENT FINANCIAL DATA

9 Months Ended

Sep. 30, 2016

Segment Financial Data [Abstract]

Segment Financial Data

Note13. Segment Financial Data

We globally manage our business operations through four reportable operating segments. Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions and assesses operating performance.

Honeywell’s senior management evaluates segment performance based on segment profit. Segment profit is measured as business unit income (loss) before taxes excluding general corporate unallocated expense, other income (expense), interest and other financial charges, pension and other postretirement income (expense), stock compensation expense, repositioning and other charges.

In July 2016, the Company announced that it is realigning the business units comprising its Automation and Control Solutions reporting segment by forming two new reportable operating segments: Home and Building Technologies and Safety and Productivity Solutions.  Home and Building Technologies includes Environmental & Energy Solutions, Security and Fire, and Building Solutions and Distribution. Additionally, the Industrial Combustion/Thermal business, previously part of Environmental & Energy Solutions in Automation and Control Solutions, became part of Performance Materials and Technologies. Safety and Productivity Solutions includes Sensing & Productivity Solutions and Industrial Safety, as well as the Intelligrated business. Under the realigned segment reporting structure, the Company has four reportable operating segments:  Aerospace, Home and Building Technologies, Performance Materials and Technologies and Safety and Productivity Solutions. Effective with the quarter ended September 30, 2016 the Company has reported its financial performance based on this realignment.

These realignments have no impact on the Company’s historical consolidated financial position, results of operations or cash flows. Prior period amounts have been reclassified to conform to current period segment presentation. 

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2016		2015		2016		2015
Net Sales
Aerospace
Products	$	2,358	$	2,557	$	7,404	$	7,643
Services		1,243		1,263		3,681		3,611
Total		3,601		3,820		11,085		11,254
Home and Building Technologies
Products		2,360		2,020		6,931		5,825
Services		341		293		923		861
Total		2,701		2,313		7,854		6,686
Performance Materials and Technologies
Products		1,924		1,810		5,822		5,784
Services		405		469		1,222		1,353
Total		2,329		2,279		7,044		7,137
Safety and Productivity Solutions
Products		1,102		1,186		3,241		3,483
Services		71		13		93		39
Total		1,173		1,199		3,334		3,522
	$	9,804	$	9,611	$	29,317	$	28,599
Segment Profit
Aerospace	$	663	$	833	$	2,252	$	2,362
Home and Building Technologies		441		408		1,213		1,088
Performance Materials and Technologies		503		474		1,484		1,517
Safety and Productivity Solutions		172		193		495		565
Corporate		(59)		(56)		(157)		(156)
Total segment profit		1,720		1,852		5,287		5,376
Other income (expense)(a)		169		15		174		39
Interest and other financial charges		(82)		(72)		(252)		(226)
Stock compensation expense(b)		(49)		(41)		(145)		(132)
Pension ongoing income(b)		146		96		447		299
Other postretirement income (expense)(b)		7		(10)		24		(30)
Repositioning and other charges (b)		(279)		(133)		(520)		(393)
Income before taxes	$	1,632	$	1,707	$	5,015	$	4,933
(a) Equity income (loss) of affiliated companies is included in segment profit.
(b) Amounts included in cost of products and services sold and selling, general and administrative expenses.