Inventories are valued at the lower of cost or market using the first-in, first-out or the average cost method and the last-in, first-out (LIFO) method for certain qualifying domestic inventories.
Source: Honeywell International Inc., Annual Report
You have visited 10 password protected pages for free. Others contain data covered by 
.
Sign Up Now to get full access to whole website and cut out all advertisements.
Honeywell International Inc., Statement of Financial Position, Inventory
USD $ in millions
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
 |
Raw materials | |
|
|
|
|
|
Work in process | |
|
|
|
|
|
Finished products | |
|
|
|
|
|
Progress payments | |
|
|
|
|
|
Inventories valued at current costs | |
|
|
|
|
|
Reduction to LIFO cost basis | |
|
|
|
|
|
Inventories | |
|
|
|
|
Source: Based on data from Honeywell International Inc. Annual Reports
| Item | Description | The company |
|---|---|---|
| Raw materials | Carrying amount as of the balance sheet date of unprocessed items to be consumed in the manufacturing or production process. Also includes purchased parts that will be used as components of a finished product. | Honeywell International Inc.'s raw materials declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |
| Work in process | Carrying amount as of the balance sheet date of merchandise or goods which are partially completed, are generally comprised of raw materials, labor and factory overhead costs, and which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing. | Honeywell International Inc.'s work in process declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |
| Finished products | Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. | Honeywell International Inc.'s finished products increased from 2009 to 2010 and from 2010 to 2011. |
| Inventories | Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). | Honeywell International Inc.'s inventories increased from 2009 to 2010 and from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
Adjusting LIFO Inventory to FIFO (Current) Cost
USD $ in millions
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| Adjustment to Inventories | ||||||
|
Inventories at LIFO (as reported) | |
|
|
|
|
|
Add: LIFO reserve, ending balance | |
|
|
|
|
|
Inventories at FIFO (adjusted) | |
|
|
|
|
| Adjustment to Current Assets | ||||||
|
Current assets (as reported) | |
|
|
|
|
|
Add: LIFO reserve, ending balance | |
|
|
|
|
|
Current assets (adjusted) | |
|
|
|
|
| Adjustment to Total Assets | ||||||
|
Total assets (as reported) | |
|
|
|
|
|
Add: LIFO reserve, ending balance | |
|
|
|
|
|
Total assets (adjusted) | |
|
|
|
|
| Adjustment to Honeywell Shareowners’ Equity | ||||||
|
Honeywell shareowners’ equity (as reported) | |
|
|
|
|
|
Add: LIFO reserve, ending balance | |
|
|
|
|
|
Honeywell shareowners’ equity (adjusted) | |
|
|
|
|
| Adjustment to Net Income Attributable To Honeywell | ||||||
|
Net income attributable to Honeywell (as reported) | |
|
|
|
|
|
Add: Increase (decrease) in LIFO reserve, ending balance | |
|
|
|
|
|
Net income attributable to Honeywell (adjusted) | |
|
|
|
|
Honeywell International Inc.'s inventory value on Dec 31, 2011 would be $4,433 (in millions) if the FIFO inventory method was used instead of LIFO. Honeywell International Inc.'s inventories, valued on a LIFO basis, on Dec 31, 2011 were $4,264 . Honeywell International Inc.'s inventories would have been $169 higher than reported on Dec 31, 2011 if the FIFO method had been used instead.
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
Honeywell International Inc., adjusted ratios
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| Current Ratio | ||||||
|
Reported current ratio (LIFO) | |
|
|
|
|
|
Adjusted current ratio (FIFO) | |
|
|
|
|
| Net Profit Margin | ||||||
|
Reported net profit margin (LIFO) | % |
% |
% |
% |
% |
|
Adjusted net profit margin (FIFO) | % |
% |
% |
% |
% |
| Total Asset Turnover | ||||||
|
Reported total asset turnover (LIFO) | |
|
|
|
|
|
Adjusted total asset turnover (FIFO) | |
|
|
|
|
| Financial Leverage | ||||||
|
Reported financial leverage (LIFO) | |
|
|
|
|
|
Adjusted financial leverage (FIFO) | |
|
|
|
|
| Return on Equity (ROE) | ||||||
|
Reported ROE (LIFO) | % |
% |
% |
% |
% |
|
Adjusted ROE (FIFO) | % |
% |
% |
% |
% |
| Return on Assets (ROA) | ||||||
|
Reported ROA (LIFO) | % |
% |
% |
% |
% |
|
Adjusted ROA (FIFO) | % |
% |
% |
% |
% |
| Ratio | Description | The company |
|---|---|---|
| Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by current liabilities. | Honeywell International Inc.'s adjusted current ratio improved from 2009 to 2010 and from 2010 to 2011. |
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by revenue. | Honeywell International Inc.'s adjusted net profit margin deteriorated from 2009 to 2010 and from 2010 to 2011. |
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Honeywell International Inc.'s adjusted total asset turnover improved from 2009 to 2010 and from 2010 to 2011. |
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Honeywell International Inc.'s adjusted financial leverage declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders' equity. | Honeywell International Inc.'s adjusted ROE deteriorated from 2009 to 2010 but then slightly improved from 2010 to 2011. |
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Honeywell International Inc.'s adjusted ROA deteriorated from 2009 to 2010 and from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| As Reported | ||||||
|
Current assets (USD $ in millions) | |
|
|
|
|
|
Current liabilities (USD $ in millions) | |
|
|
|
|
|
Current ratio1 | |
|
|
|
|
| Adjusted: from LIFO to FIFO | ||||||
|
Adjusted current assets (USD $ in millions) | |
|
|
|
|
|
Current liabilities (USD $ in millions) | |
|
|
|
|
|
Adjusted current ratio2 | |
|
|
|
|
2011 Calculations
1 Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by current liabilities. | Honeywell International Inc.'s adjusted current ratio improved from 2009 to 2010 and from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| As Reported | ||||||
|
Net income attributable to Honeywell (USD $ in millions) | |
|
|
|
|
|
Net sales (USD $ in millions) | |
|
|
|
|
|
Net profit margin1 | % |
% |
% |
% |
% |
| Adjusted: from LIFO to FIFO | ||||||
|
Adjusted net income attributable to Honeywell (USD $ in millions) | |
|
|
|
|
|
Net sales (USD $ in millions) | |
|
|
|
|
|
Adjusted net profit margin2 | % |
% |
% |
% |
% |
2011 Calculations
1 Net profit margin = 100 × Net income attributable to Honeywell ÷ Net sales
= 100 × ÷ = %
2 Adjusted net profit margin = 100 × Adjusted net income attributable to Honeywell ÷ Net sales
= 100 × ÷ = %
| Ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by revenue. | Honeywell International Inc.'s adjusted net profit margin deteriorated from 2009 to 2010 and from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| As Reported | ||||||
|
Net sales (USD $ in millions) | |
|
|
|
|
|
Total assets (USD $ in millions) | |
|
|
|
|
|
Total asset turnover1 | |
|
|
|
|
| Adjusted: from LIFO to FIFO | ||||||
|
Net sales (USD $ in millions) | |
|
|
|
|
|
Adjusted total assets (USD $ in millions) | |
|
|
|
|
|
Adjusted total asset turnover2 | |
|
|
|
|
2011 Calculations
1 Total asset turnover = Net sales ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Honeywell International Inc.'s adjusted total asset turnover improved from 2009 to 2010 and from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| As Reported | ||||||
|
Total assets (USD $ in millions) | |
|
|
|
|
|
Honeywell shareowners’ equity (USD $ in millions) | |
|
|
|
|
|
Financial leverage1 | |
|
|
|
|
| Adjusted: from LIFO to FIFO | ||||||
|
Adjusted total assets (USD $ in millions) | |
|
|
|
|
|
Adjusted honeywell shareowners’ equity (USD $ in millions) | |
|
|
|
|
|
Adjusted financial leverage2 | |
|
|
|
|
2011 Calculations
1 Financial leverage = Total assets ÷ Honeywell shareowners’ equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted honeywell shareowners’ equity
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Honeywell International Inc.'s adjusted financial leverage declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| As Reported | ||||||
|
Net income attributable to Honeywell (USD $ in millions) | |
|
|
|
|
|
Honeywell shareowners’ equity (USD $ in millions) | |
|
|
|
|
|
ROE1 | % |
% |
% |
% |
% |
| Adjusted: from LIFO to FIFO | ||||||
|
Adjusted net income attributable to Honeywell (USD $ in millions) | |
|
|
|
|
|
Adjusted honeywell shareowners’ equity (USD $ in millions) | |
|
|
|
|
|
Adjusted ROE2 | % |
% |
% |
% |
% |
2011 Calculations
1 ROE = 100 × Net income attributable to Honeywell ÷ Honeywell shareowners’ equity
= 100 × ÷ = %
2 Adjusted ROE = 100 × Adjusted net income attributable to Honeywell ÷ Adjusted honeywell shareowners’ equity
= 100 × ÷ = %
| Ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders' equity. | Honeywell International Inc.'s adjusted ROE deteriorated from 2009 to 2010 but then slightly improved from 2010 to 2011. |
You have visited 10 password protected pages for free. Others contain data covered by .
Sign Up Now to get full access to whole website and cut out all advertisements.
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
|---|---|---|---|---|---|---|
| As Reported | ||||||
|
Net income attributable to Honeywell (USD $ in millions) | |
|
|
|
|
|
Total assets (USD $ in millions) | |
|
|
|
|
|
ROA1 | % |
% |
% |
% |
% |
| Adjusted: from LIFO to FIFO | ||||||
|
Adjusted net income attributable to Honeywell (USD $ in millions) | |
|
|
|
|
|
Adjusted total assets (USD $ in millions) | |
|
|
|
|
|
Adjusted ROA2 | % |
% |
% |
% |
% |
2011 Calculations
1 ROA = 100 × Net income attributable to Honeywell ÷ Total assets
= 100 × ÷ = %
2 Adjusted ROA = 100 × Adjusted net income attributable to Honeywell ÷ Adjusted total assets
= 100 × ÷ = %
| Ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Honeywell International Inc.'s adjusted ROA deteriorated from 2009 to 2010 and from 2010 to 2011. |
May 23, 2012