Stock Analysis on Net
Stock Analysis on Net

Honeywell International Inc. (NASDAQ:HON)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Honeywell International Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Accounts payable 9.15 11.13 10.16 10.06 8.90
Commercial paper and other short-term borrowings 5.68 3.39 4.36 5.49 5.57
Current maturities of long-term debt 1.79 2.92 2.78 2.80 3.79
Customer advances and deferred income 4.66 5.69 5.71 4.91 4.54
Compensation, benefit and other employee related 1.82 2.15 1.96 1.97 1.93
Income taxes 1.28 1.11 0.88 0.61 0.48
Repositioning 0.25 0.45 0.50 0.64 0.93
Environmental costs 0.32 0.37 0.36 0.35 0.35
Accrued interest 0.50 0.35 0.20 0.16 0.16
Current operating lease liabilities 0.26 0.32 0.31 0.29 0.29
Product warranties and performance guarantees 0.27 0.30 0.28 0.28 0.28
Other taxes 0.39 0.29 0.28 0.42 0.44
Asbestos-related liabilities 0.21 0.25 0.18 0.40 0.46
Insurance 0.08 0.11 0.11 0.16 0.22
NARCO Buyout accrual 0.00 0.00 2.13 0.00 0.00
Other, primarily operating expenses 1.06 1.31 1.84 1.73 1.40
Accrued liabilities 11.10% 12.69% 14.71% 11.91% 11.47%
Liabilities held for sale 0.54 0.00 0.00 0.00 0.00
Current liabilities 28.27% 30.13% 32.02% 30.26% 29.72%
Long-term debt, excluding current maturities 33.88 26.92 24.28 22.11 25.30
Deferred income taxes 2.38 3.40 3.36 3.67 3.27
Postretirement benefit obligations other than pensions 0.15 0.22 0.23 0.32 0.37
Asbestos-related liabilities 1.76 2.42 1.89 2.79 2.97
Income taxes 1.91 2.83 3.11 3.34 3.11
Pension and other employee related 1.68 2.18 2.10 2.59 2.98
Deferred income 1.58 1.90 2.14 2.05 2.10
Non-current operating lease liabilities 1.23 1.46 1.24 1.31 0.99
Environmental costs 0.58 0.67 0.63 0.61 0.67
Insurance 0.32 0.40 0.46 0.46 0.43
Product warranties and performance guarantees 0.05 0.06 0.06 0.07 0.09
Asset retirement obligations 0.02 0.03 0.04 0.04 0.05
Other 0.71 0.65 0.60 0.51 0.37
Other liabilities 8.08% 10.18% 10.39% 10.99% 10.80%
Non-current liabilities 46.25% 43.15% 40.16% 39.88% 42.72%
Total liabilities 74.52% 73.28% 72.18% 70.14% 72.44%
Redeemable noncontrolling interest 0.01 0.01 0.01 0.01 0.01
Common stock issued 1.27 1.56 1.54 1.49 1.48
Additional paid-in capital 12.89 14.73 13.75 12.63 11.29
Common stock held in treasury, at cost -52.37 -61.78 -55.31 -47.25 -42.16
Accumulated other comprehensive loss -4.64 -6.72 -5.58 -4.49 -5.23
Retained earnings 67.60 77.98 72.41 66.43 61.79
Total Honeywell shareowners’ equity 24.76% 25.77% 26.81% 28.80% 27.17%
Noncontrolling interest 0.71 0.94 1.00 1.04 0.37
Total shareowners’ equity 25.47% 26.71% 27.81% 29.85% 27.54%
Total liabilities, redeemable noncontrolling interest and shareowners’ equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Accounts Payable
The proportion of accounts payable within the total financial structure displayed an overall increasing trend from 8.9% in 2020 to a peak of 11.13% in 2023, before declining to 9.15% in 2024.
Commercial Paper and Other Short-Term Borrowings
This category showed a decrease from 5.57% in 2020 to 3.39% in 2023, followed by a rebound to 5.68% in 2024, indicating some volatility in short-term debt reliance.
Current Maturities of Long-Term Debt
There was a gradual decline in the share of current maturities of long-term debt from 3.79% in 2020 to 1.79% in 2024, suggesting a possible reduction in near-term debt obligations.
Customer Advances and Deferred Income
This liability increased to 5.71% in 2022 from 4.54% in 2020, then slightly decreased to 4.66% by 2024, reflecting some fluctuations in advance payments or deferred revenue.
Compensation, Benefit, and Employee-Related Liabilities
The percentage related to employee benefits remained fairly stable, starting at 1.93% in 2020, peaking small at 2.15% in 2023, then marginally falling to 1.82% in 2024.
Income Taxes Liabilities
The percentage of income taxes in current liabilities steadily rose from 0.48% in 2020 to 1.28% in 2024, and in non-current liabilities, it decreased from 3.11% in 2020 to 1.91% in 2024, showing a shift towards more current tax obligations.
Repositioning Expenses
The proportion dedicated to repositioning expenses consistently decreased from 0.93% in 2020 to 0.25% in 2024, indicating reduced costs or liabilities related to restructuring activities.
Environmental Costs
Environmental liabilities were relatively stable, with minor fluctuations around 0.3% to 0.67%, showing a slight downward trend in both current and non-current categories by 2024.
Accrued Interest
There was a noted increase in accrued interest, rising from 0.16% in 2020 to 0.5% in 2024, which suggests growing interest expense or increased debt costs over time.
Accrued Liabilities
The share of accrued liabilities rose from 11.47% in 2020 to 14.71% in 2022, then declined to 11.1% in 2024, reflecting some variability in accrued expenses or payable amounts.
Current Liabilities Total
Current liabilities as a percentage of total financing peaked at 32.02% in 2022, then decreased to 28.27% in 2024, indicating a reduction in short-term obligations or liabilities.
Long-Term Debt, Excluding Current Maturities
Long-term debt showed an increasing trend, growing from 25.3% in 2020 to 33.88% in 2024, suggesting a greater reliance on long-term borrowings or issuance of debt during this period.
Deferred Income Taxes
This liability remained mostly steady around 3.3% but dropped notably to 2.38% in 2024, potentially reflecting tax planning or changes in deferred tax assets and liabilities.
Postretirement Benefit Obligations
Postretirement benefit liabilities declined from 0.37% in 2020 to 0.15% in 2024, indicating a decrease in recognized obligations for retiree benefits.
Asbestos-Related Liabilities
Both current and non-current asbestos liabilities decreased overall, with current asbestos liabilities diminishing from 0.46% in 2020 to 0.21% in 2024, and non-current asbestos liabilities declining from 2.97% to 1.76%, showing ongoing resolution or settlement of these obligations.
Insurance Liabilities
Insurance-related liabilities gradually decreased from 0.22% and 0.43% (current and non-current respectively) in 2020 to 0.08% and 0.32% in 2024, indicating reduced exposure or reinsurance arrangements.
Other Liabilities
Other liabilities showed a slight decline in percentage terms from 10.8% in 2020 to 8.08% in 2024, suggesting lower miscellaneous obligations or improved management of such liabilities.
Non-current Liabilities Total
The share of non-current liabilities moderately increased from 42.72% in 2020 to 46.25% in 2024, supporting the observation of increased long-term debt as a proportion of total financing.
Total Liabilities
Total liabilities remained a major component of the financial structure, rising from 72.44% in 2020 to 74.52% in 2024, indicating a continuing dominance of liabilities over equity financing.
Shareowners’ Equity
Honeywell’s shareowners' equity as a portion of total financing decreased from 27.17% in 2020 to 24.76% in 2024, showing a reduction in equity relative to liabilities. Total equity (including noncontrolling interest) similarly declined from 27.54% to 25.47%. Retained earnings increased to a peak of 77.98% in 2023 before dropping to 67.6% in 2024, implying dividend payments or other equity-impacting events occurred in the last year.
Common Stock and Capital
Additional paid-in capital increased steadily until 2023 before dropping slightly to 12.89% in 2024. Common stock issued remained relatively stable, but the significant negative balance in treasury stock increased in magnitude over the years, reflecting ongoing share repurchases.
Comprehensive Loss and Treasury Stock
Accumulated other comprehensive loss showed some volatility but generally declined towards 2024. Treasury stock holdings increased significantly as a negative figure, indicating a consistent repurchase activity that reduced total equity.