Honeywell 2008 Annual Report Download - page 31

HONEYWELL INTERNATIONAL INC.
Item 6. Selected Financial Data
Years Ended December 31,
2008 2007 2006 2005 2004
(Dollars in millions, except per share amounts)
Results of Operations
Net sales $ 36,556 $ 34,589 $ 31,367 $ 27,652 $ 25,593
Income from continuing operations 2,792 2,444 2,078 1,564 1,246
Per Common Share
Earnings from continuing operations:
Basic 3.79 3.20 2.53 1.85 1.45
Assuming dilution 3.76 3.16 2.51 1.84 1.45
Dividends 1.10 1.00 0.9075 0.825 0.75
Financial Position at Year-End
Property, plant and equipment—net 4,934 4,985 4,797 4,658 4,331
Total assets 35,490 33,805 30,941 31,633 30,570
Short-term debt 2,510 2,238 1,154 2,024 1,204
Long-term debt 5,865 5,419 3,909 3,082 4,069
Total debt 8,375 7,657 5,063 5,106 5,273
Shareowners' equity(1) 7,187 9,222 9,720 10,762 10,777
(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, 2008. 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
2008 2007 2006
(Dollars in millions)
Net sales $ 36,556 $ 34,589 $ 31,367
% change compared with prior year 6% 10%
The change in net sales in 2008 and 2007 is attributable to the following:
2008
Versus
2007
2007
Versus
2006