Honeywell 2010 Annual Report Download - page 25

HONEYWELL INTERNATIONAL INC.
Information in Items 6, 7, 8 and Exhibit 12 for the years ended December 31, 2009, 2008, 2007 and 2006 have been revised, as applicable, for the
retrospective application of our change in accounting policy for recognizing pension expense. See Note 1 of the Notes to the Financial Statements for a
discussion of the change and the impacts for the years ended December 31, 2009 and 2008.
Item 6. Selected Financial Data
Years Ended December 31,
2010 2009 (1) 2008 (1) 2007 (1)(2) 2006 (1)(3)
(Dollars in millions, except per share amounts)
Results of Operations
Net sales $ 33,370 $ 30,908 $ 36,556 $ 34,589 $ 31,367
Net income attributable to Honeywell (4) 2,022 1,548 806 2,594 2,284
Per Common Share
Earnings from continuing operations:
Basic 2.61 2.06 1.09 3.39 2.78
Assuming dilution 2.59 2.05 1.08 3.35 2.76
Dividends 1.21 1.21 1.10 1.00 0.9075
Financial Position at Year-End
Property, plant and equipment—net 4,840 4,847 4,934 4,985 4,797
Total assets 37,834 35,993 35,570 33,805 30,941
Short-term debt 889 1,361 2,510 2,238 1,154
Long-term debt 5,755 6,246 5,865 5,419 3,909
Total debt 6,644 7,607 8,375 7,657 5,063
Shareowners' equity (5)(6) 10,787 8,971 7,140 9,293 9,777
(1) Reflects the retrospective change in our method of recognizing pension expense. See Note 1 of Notes to Financial Statements for a discussion of the
change and the impacts of the change for the years ended December 31, 2009 and 2008.
(2) For the year ended December 31, 2007 the retrospective change in recognizing pension expense increased Net income attributable to Honeywell by $150
million, Earnings per share, basic by $0.20, Earnings per share, assuming dilution by $0.19.
(3) For the year ended December 31, 2006 the retrospective change in recognizing pension expense increased Net income attributable to Honeywell by $206
million, Earnings per share, basic by $0.25, Earnings per share, assuming dilution by $0.25.
(4) For the year ended December 31, 2008 Net income attributable to Honeywell includes a $417 million, net of tax gain resulting from the sale of our
Consumables Solutions business as well as a charge of $465 million for environmental liabilities deemed probable and reasonably estimable during 2008
(see Notes 2 and 3 of Notes to Financial Statements, respectively).
(5) The retrospective change in our method of recognizing pension impacted Shareowners' equity for the years ended December 31 as follows: 2009-
increase of $17 million and 2008- decrease of $128 million.
(6) For the year ended December 31, 2006 shareowners' equity includes a reduction of $414 million related to the adoption of revised accounting guidance
for "Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans".
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