Honeywell 2011 Annual Report Download - page 59

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ITEM 8. Financial Statements and Supplementary Data
Honeywell International Inc.
Consolidated Statement of Operations
Years Ended December 31,
2011 2010 2009
(Dollars in millions, except per share amounts)
Product sales $ 28,745 $ 25,242 $ 22,957
Service sales 7,784 7,108 6,994
Net sales 36,529 32,350 29,951
Costs, expenses and other
Cost of products sold 23,220 19,903 18,565
Cost of services sold 5,336 4,818 4,695
28,556 24,721 23,260
Selling, general and administrative
expenses 5,399 4,618 4,323
Other (income) expense (84) (97) (54)
Interest and other financial charges 376 386 458
34,247 29,628 27,987
Income from continuing operations before taxes 2,282 2,722 1,964
Tax expense 417 765 436
Income from continuing operations after taxes 1,865 1,957 1,528
Income from discontinued operations after taxes 209 78 56
Net income 2,074 2,035 1,584
Less: Net income attributable to the noncontrolling interest 7 13 36
Net income attributable to Honeywell $ 2,067 $ 2,022 $ 1,548
Amounts attributable to Honeywell:
Income from continuing operations less net income attributable to the noncontrolling interest 1,858 1,944 1,492
Income from discontinued operations 209 78 56
Net income attributable to Honeywell $ 2,067 $ 2,022 $ 1,548
Earnings per share of common stock - basic:
Income from continuing operations 2.38 2.51 1.99
Income from discontinuing operations 0.27 0.10 0.07
Net income $ 2.65 $ 2.61 $ 2.06
Earnings per share of common stock - assuming dilution:
Income from continuing operations 2.35 2.49 1.98
Income from discontinuing operations 0.26 0.10 0.07
Net income $ 2.61 $ 2.59 $ 2.05
Cash dividends per share of common stock $ 1.37 $ 1.21 $ 1.21
The Notes to Financial Statements are an integral part of this statement.
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