EXHIBIT 12

HONEYWELL INTERNATIONAL INC.
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	2004			2003			2002			2001			2000
	(In millions)
Determination of Earnings:
Income (loss) before taxes	$	1,680		$	1,640		$	(945	)	$	(422	)	$	2,398
Add (Deduct):
Amortization of capitalized interest		24			24			24			25			25
Fixed charges		438			448			435			512			583
Equity income, net of distributions		(75	)		(38	)		(42	)		199			132
Total earnings, as defined	$	2,067		$	2,066		$	(528	)	$	314		$	3,138
Fixed Charges:
Rents(a)	$	107		$	105		$	91		$	107		$	102
Interest and other financial charges		331			335			344			405			481
		438			440			435			512			583
Capitalized interest		18			15			21			17			16
Total fixed charges	$	456		$	455		$	456		$	529		$	599
Ratio of earnings to fixed charges		4.53			4.54			(1.16	)(b)		0.59	(b)		5.24

(a)	Denotes the equivalent of an appropriate portion of rentals representative of the interest factor on all rentals other than for capitalized leases.
(b)	The ratio of earnings to fixed charges was less than 1:1 for the years ended December 31, 2002 and 2001. In order to have achieved a ratio of earnings to fixed charges of 1:1, we would have had to have generated an additional $984 and $215 million of earnings in the years ended December 31, 2002 and 2001, respectively.