Honeywell 2012 Annual Report Download - page 89

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Note 8—Accounts, Notes and Other Receivables
2012 2011
December 31,
Trade. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,940 $6,926
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 715 555
7,655 7,481
Less—Allowance for doubtful accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (226) (253)
$7,429 $7,228
Trade Receivables includes $1,495, and $1,404 million of unbilled balances under long-term
contracts as of December 31, 2012 and December 31, 2011, respectively. These amounts are billed in
accordance with the terms of customer contracts to which they relate.
Note 9—Inventories
2012 2011
December 31,
Raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,152 $1,222
Work in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 859 958
Finished products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,421 2,253
4,432 4,433
Reduction to LIFO cost basis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (197) (169)
$4,235 $4,264
Inventories valued at LIFO amounted to $325 and $302 million at December 31, 2012 and 2011,
respectively. Had such LIFO inventories been valued at current costs, their carrying values would have
been approximately $197 and $169 million higher at December 31, 2012 and 2011, respectively.
Note 10—Investments and Long-Term Receivables
2012 2011
December 31,
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $424 $362
Long-term trade and other receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168 81
Long-term financing receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 51
$623 $494
Long-Term Trade and Other Receivables include $31 million and $29 million of unbilled balances
under long-term contracts as of December 31, 2012 and 2011, respectively. These amounts are billed
in accordance with the terms of the customer contracts to which they relate.
The following table summarizes long term trade, financing and other receivables by segment,
including current portions and allowances for credit losses.
December 31,
2012
Aerospace. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 11
Automation and Control Solutions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89
Performance Materials and Technologies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Transportation Systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Corporate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73
$197
80
HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)