Honeywell 2006 Annual Report Download - page 125

HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
Note 23—Segment Financial Data
We globally manage our business operations through four reportable segments serving customers worldwide with aerospace
products and services, control, sensing and security technologies for buildings, homes and industry, automotive products and
chemicals. Segment information is consistent with how management reviews the businesses, makes investing and resource allocation
decisions and assesses operating performance. Our four reportable segments are as follows:
• Aerospace is organized by customer end-market (Air Transport and Regional, Business and General Aviation and Defense
and Space) and provides products and services which include auxiliary power units; propulsion engines; environmental
control systems; engine controls; repair and overhaul services; hardware; logistics; electric power systems; flight safety,
communications, navigation, radar and surveillance systems; aircraft lighting; management and technical services; advanced
systems and instruments; and aircraft wheels and brakes.
• Automation and Control Solutions includes Products (controls for heating, cooling, indoor air quality, ventilation,
humidification and home automation; advanced software applications for home/building control and optimization; sensors,
switches, control systems and instruments for measuring pressure, air flow, temperature and electrical current; security, fire
and gas detection; access control; video surveillance; and remote patient monitoring systems); Building Solutions (installs,
maintains and upgrades systems that keep buildings safe, comfortable and productive); and Process Solutions (provides a full
range of automation and control solutions for industrial plants, offering advanced software and automation systems that
integrate, control and monitor complex processes in many types of industrial settings).
• Specialty Materials includes fluorocarbons, specialty films, advanced fibers, customized research chemicals and
intermediates, electronic materials and chemicals, and catalysts and adsorbents.
• Transportation Systems includes Honeywell Turbo Technologies (turbochargers and charge-air and thermal systems); and the
Consumer Products Group (car care products including anti-freeze, filters, spark plugs, and cleaners, waxes and additives;
and brake hard parts and other friction materials).
The accounting policies of the segments are the same as those described in Note 1. Honeywell's senior management evaluates
segment performance based on segment profit. Segment profit is business unit income (loss) before taxes excluding general corporate
unallocated expenses, other income (expense), interest and other financial charges, pension and other postretirement benefits
(expense), stock option expense, repositioning and other charges and accounting changes. Intersegment sales approximate market
prices and are not significant. Reportable segment data follows:
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