Honeywell International Inc. (NASDAQ:HON)

The analysis of the quarterly financial data reveals several notable trends and patterns in the company’s liability and equity structure over the observed periods.

Accounts Payable

Accounts payable as a percentage of total liabilities and equity increased gradually from around 9.88% in early 2020, peaking at 11.13% near the end of 2021, before stabilizing near 9% to 9.1% in the most recent quarters. This indicates moderate growth followed by stabilization in the company's obligations to suppliers relative to its overall financial structure.

Commercial Paper and Other Short-term Borrowings

This category showed some volatility, starting at approximately 6.14% in early 2020, experiencing declines to below 3.5% in mid-2023, and then sharply increasing again towards 8.49% by late 2025. The fluctuations suggest varying reliance on short-term external financing, reflecting changing liquidity or capital management strategies.

Current Maturities of Long-term Debt

Current maturities showed irregular movements, with some quarters indicating significant increases (notably 5.21% in late 2021 and 5.06% in early 2022), but generally hovering around 2% or less in other periods, suggesting variable debt repayment scheduling or refinancing activities.

Accrued Liabilities

Accrued liabilities remained relatively stable, generally occupying around 10-12% of the total liabilities and equity. A notable rise occurred around the end of 2022, reaching 14.71%, indicating increased accrued expenses or obligations during that period, followed by a reversion to prior levels.

Current Liabilities

Current liabilities as a group demonstrated mild fluctuations, mostly ranging between 25% and 32%, without a clear upward or downward trend, implying relative consistency in the company's short-term obligations.

Long-term Debt, Excluding Current Maturities

Long-term debt showed a clear upward trajectory, increasing from about 20% in early 2020 to peaks above 38% by late 2025. This trend suggests an increased reliance on long-term borrowings, potentially for capital expenditures, acquisitions, or restructuring of the capital base.

Deferred Income Taxes

Deferred income taxes remained fairly consistent, fluctuating mildly around 2.3% to 3.9% throughout the timeframe, indicating stable tax-related liabilities relative to the overall financial structure.

Postretirement Benefit Obligations Other Than Pensions

These obligations declined steadily from 0.55% to 0.13%, reflecting either payments made towards these obligations or revaluation adjustments reducing the relative burden.

Asbestos-Related Liabilities

There was a noticeable decrease in asbestos-related liabilities over time, from above 3.3% to below 1.7%, likely signaling resolution of such liabilities or settlement of related claims.

Other Liabilities

Other liabilities showed a slow but clear decline from around 11.7% to approximately 8.7%, suggesting a reduction in miscellaneous or less defined liabilities.

Noncurrent Liabilities

Noncurrent liabilities overall increased from about 38.6% in early 2020 to above 50% by late 2025, consistent with the increase in long-term debt and signifying a growing share of the company's obligations being long-term.

Total Liabilities

Total liabilities rose from approximately 69% to nearly 78% over the periods, indicating a progressively greater proportion of the company’s financing coming from liabilities rather than equity.

Shareowners’ Equity Components

Within shareowners’ equity, retained earnings as a percentage increased moderately from 67.3% to around 77.4% mid-period before declining somewhat to 66.1%, demonstrating accumulation and partial distribution of retained profits.

Common stock issued remained relatively stable around 1.2%-1.6%, showing minimal changes in capitalization via new shares.

Additional paid-in capital increased initially, peaking at over 14.7% around late 2023 but showed a downward trend thereafter, settling near 12.3% in 2025.

Common stock held in treasury showed a persistent increase in negative value, moving from approximately -40.7% to nearly -61.8%, indicating substantial share repurchases or buybacks reducing outstanding shares and equity base.

Accumulated other comprehensive loss fluctuated around -4.5% to -6.7%, showing some variability in other comprehensive income components.

Total shareowners’ equity as a whole declined from around 31% to near 21% by late 2025, consistent with increased liabilities and treasury stock trends, indicating a relative shrinkage in the equity portion of the capital structure.

Noncontrolling Interest

Noncontrolling interest remained a small fraction of total capital, generally below 1.2%, with slight fluctuations, indicating minor changes in ownership stakes outside the parent entity.

In summary, the company's financial structure has shown a notable shift towards increased liabilities, particularly long-term debt, and a relative reduction in total equity due to factors including substantial treasury share repurchases. Short-term borrowings exhibited volatility, while accrued liabilities and current liabilities maintained relative stability. Long-term obligations and total liabilities increased as percentages of total capital, reflecting possible strategic leveraging or funding activities over the observed periods. Meanwhile, reductions in postretirement and asbestos-related liabilities suggest successful liability management in these areas.