Honeywell 2006 Annual Report Download - page 30
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HONEYWELL INTERNATIONAL INC.
Item 6. Selected Financial Data
Years Ended December 31,
2006 2005 2004 2003 2002
(Dollars in millions, except per share amounts)
Results of Operations
Net sales $31,367 $27,652 $25,593 $23,095 $22,261
Income (loss) from continuing operations 2,078 1,564 1,246 1,309 (254)
Per Common Share
Earnings (loss) from continuing operations:
Basic 2.53 1.85 1.45 1.52 (0.31)
Assuming dilution 2.51 1.84 1.45 1.52 (0.31)
Dividends 0.9075 0.825 0.75 0.75 0.75
Financial Position at Year-End
Property, plant and equipment—net 4,797 4,658 4,331 4,295 4,055
Total assets 30,941 31,633 30,570 28,767 27,160
Short-term debt 1,154 2,024 1,204 199 370
Long-term debt 3,909 3,082 4,069 4,961 4,719
Total debt 5,063 5,106 5,273 5,160 5,089
Shareowners' equity(1) 9,720 10,762 10,777 10,289 8,520
(1)
For the year ended December 31, 2006 shareowners' equity includes a reduction of $1,512 related to the adoption of SFAS No.
158, “Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans”.
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations
The following Management's Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is intended to
help the reader understand the results of operations and financial condition of Honeywell International Inc. (“Honeywell”) for the
three years ended December 31, 2006. All references to Notes relate to Notes to the Financial Statements in “Item 8—Financial
Statements and Supplementary Data”.
CONSOLIDATED RESULTS OF OPERATIONS
Net Sales
2006 2005 2004
(Dollars in millions)
Net sales $ 31,367 $ 27,652 $ 25,593
% change compared with prior year 13% 8%
The change in net sales in 2006 and 2005 is attributable to the following:
2006
Versus
2005
2005
Versus
2004
Acquisitions 7 % 5 %
Divestitures (1) (2)
Price 1 1
Volume 6 4
Foreign Exchange — —
13 % 8 %
A discussion of net sales by reportable segment can be found in the Review of Business Segments section of this MD&A.
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