SEGMENT FINANCIAL DATA

12 Months Ended

Dec. 31, 2018

Note 22. 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 segment income (loss) before taxes excluding general corporate unallocated expense, other income (expense), interest and other financial charges, stock compensation expenses, pension and other postretirement benefits (expense), stock compensation expense and repositioning and other charges.

		Years Ended December 31,
Net Sales		2018		2017		2016
Aerospace
Product	$	10,415	$	10,067	$	9,926
Service		5,078		4,712		4,825
Total		15,493		14,779		14,751
Honeywell Building Technologies
Product		7,868		8,396		8,250
Service		1,430		1,381		1,240
Total		9,298		9,777		9,490
Performance Materials and Technologies
Product		8,589		8,521		8,725
Service		2,085		1,818		1,711
Total		10,674		10,339		10,436
Safety and Productivity Solutions
Product		5,976		5,333		4,461
Service		361		306		164
Total		6,337		5,639		4,625
	$	41,802	$	40,534	$	39,302

Depreciation and amortization
Aerospace	$	281	$	279	$	275
Honeywell Building Technologies		112		118		107
Performance Materials and Technologies		452		441		399
Safety and Productivity Solutions		216		219		188
Corporate		55		58		61
	$	1,116	$	1,115	$	1,030

Segment Profit
Aerospace	$	3,503	$	3,288	$	2,991
Honeywell Building Technologies		1,608		1,650		1,621
Performance Materials and Technologies		2,328		2,206		2,112
Safety and Productivity Solutions		1,032		852		680
Corporate		(281)		(306)		(218)
	$	8,190	$	7,690	$	7,186

Capital expenditures
Aerospace	$	308	$	380	$	331
Honeywell Building Technologies		125		88		92
Performance Materials and Technologies		254		303		473
Safety and Productivity Solutions		78		79		55
Corporate		63		181		144
	$	828	$	1,031	$	1,095

		December 31,
Total Assets		2018		2017		2016
Aerospace	$	11,234	$	11,769	$	11,426
Honeywell Building Technologies		6,010		10,592		10,392
Performance Materials and Technologies		17,827		17,203		15,835
Safety and Productivity Solutions		9,886		9,456		8,951
Corporate		12,816		10,450		7,962
	$	57,773	$	59,470	$	54,566

A reconciliation of segment profit to consolidated income from continuing operations before taxes are as follows:

		Years Ended December 31,
		2018		2017		2016

Segment Profit	$	8,190	$	7,690	$	7,186
Interest and other financial charges		(367)		(316)		(338)
Stock compensation expense⁽¹⁾		(175)		(176)		(184)
Pension ongoing income (expense)⁽²⁾		992		713		601
Pension mark-to-market expense⁽²⁾		(37)		(87)		(273)
Other postretirement income (expense)⁽²⁾		32		21		32
Repositioning and other charges ⁽³⁾		(1,091)		(973)		(690)
Other⁽⁴⁾		(57)		78		118
Income before taxes	$	7,487	$	6,950	$	6,452

(1) Amounts included in Selling, general and administrative expenses.

(2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components).

(3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense.

(4) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income/loss of affiliated companies is included in segment profit.