Stock Analysis on Net

Honeywell International Inc. (NASDAQ:HON)

Income Statement 

The income statement presents information on the financial results of a company 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

US$ in millions

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12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Product sales 25,643  24,737  27,629  32,848  32,317 
Service sales 8,749  7,900  9,080  8,954  8,217 
Net sales 34,392  32,637  36,709  41,802  40,534 
Cost of products sold (18,344) (17,638) (19,269) (23,634) (22,659)
Cost of services sold (5,050) (4,531) (5,070) (5,412) (4,916)
Cost of products and services sold (23,394) (22,169) (24,339) (29,046) (27,575)
Gross profit 10,998  10,468  12,370  12,756  12,959 
Selling, general and administrative expenses (4,798) (4,772) (5,519) (6,051) (5,808)
Operating income 6,200  5,696  6,851  6,705  7,151 
Interest income 102  107  255  217  151 
Pension ongoing income, non-service 1,202  901  606  1,165  — 
Other postretirement income, non-service 71  57  47  32  — 
Equity income of affiliated companies 67  66  52  50  39 
Gain (loss) on sale of non-strategic business and assets 102  (3) (1) —  (7)
Foreign exchange (25) 68  120  63  (18)
Expense related to UOP Matters (160) —  —  —  — 
Separation costs —  —  —  (321) (16)
Reimbursement receivables charge —  (509) —  —  — 
Other, net 19  (12) (14) (57) (82)
Other income (expense) 1,378  675  1,065  1,149  67 
Interest and other financial charges (343) (359) (357) (367) (316)
Income before taxes 7,235  6,012  7,559  7,487  6,902 
Tax expense (1,625) (1,147) (1,329) (659) (5,204)
Net income 5,610  4,865  6,230  6,828  1,698 
Net income attributable to the noncontrolling interest (68) (86) (87) (63) (43)
Net income attributable to Honeywell 5,542  4,779  6,143  6,765  1,655 

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Income statement item Description The company
Net sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Honeywell International Inc. net sales decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Operating income The net result for the period of deducting operating expenses from operating revenues. Honeywell International Inc. operating income decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Income before taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Honeywell International Inc. income before taxes decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.
Net income attributable to Honeywell The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Honeywell International Inc. net income attributable to Honeywell decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.