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Honeywell International Inc. (HON) | Income Statement

The income statement presents information on the financial results of a company's business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Honeywell International Inc., Consolidated Income Statement

USD $ in millions

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  12 months ended Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008
Product sales 29,812  28,745  26,262  23,914  29,212 
Service sales 7,853  7,784  7,108  6,994  7,344 
Net sales 37,665  36,529  33,370  30,908  36,556 
Cost of products sold (22,929) (23,220) (20,701) (18,637) (23,043)
Cost of services sold (5,362) (5,336) (4,818) (4,548) (4,951)
Gross profit 9,374  7,973  7,851  7,723  8,562 
Selling, general and administrative expenses (5,218) (5,399) (4,717) (4,341) (5,033)
Operating income 4,156  2,574  3,134  3,382  3,529 
Equity income (loss) of affiliated companies 45  51  29  26  63 
Gain on sale of non-strategic businesses and assets 5  61  – 87  635 
Interest income 58  58  40  33  102 
Foreign exchange (36) (50) (13) (45) (52)
Other, net (2) (36) 39  (46) –
Other income (expense) 70  84  95  55  748 
Interest and other financial charges (351) (376) (386) (459) (456)
Income from continuing operations before taxes 3,875  2,282  2,843  2,978  3,821 
Tax expense (944) (417) (808) (789) (1,009)
Income from continuing operations after taxes 2,931  1,865  2,035  2,189  2,812 
Income from discontinued operations after taxes – 209  – – –
Net income 2,931  2,074  2,035  2,189  2,812 
Net income attributable to the noncontrolling interest (5) (7) (13) (36) (20)
Net income attributable to Honeywell 2,926  2,067  2,022  2,153  2,792 
Source: Honeywell International Inc., Annual Reports
Item Description The company
Net sales Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Honeywell International Inc.'s net sales increased from 2010 to 2011 and from 2011 to 2012.
Operating income The net result for the period of deducting operating expenses from operating revenues. Honeywell International Inc.'s operating income declined from 2010 to 2011 but then increased from 2011 to 2012 exceeding 2010 level.
Income from continuing operations before taxes Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Honeywell International Inc.'s income from continuing operations before taxes declined from 2010 to 2011 but then increased from 2011 to 2012 exceeding 2010 level.
Income from continuing operations after taxes This represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Honeywell International Inc.'s income from continuing operations after taxes declined from 2010 to 2011 but then increased from 2011 to 2012 exceeding 2010 level.
Net income The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Honeywell International Inc.'s net income increased from 2010 to 2011 and from 2011 to 2012.
Net income attributable to Honeywell The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Honeywell International Inc.'s net income attributable to Honeywell increased from 2010 to 2011 and from 2011 to 2012.

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