Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
- Aggregate Accruals
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Honeywell International Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 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).
Net income exhibited volatility over the five-year period, beginning at US$5,610 million in 2021, decreasing to US$4,967 million in 2022, then recovering to US$5,672 million in 2023 and US$5,740 million in 2024 before declining significantly to US$4,772 million in 2025. Comprehensive income mirrored this pattern, fluctuating from US$6,092 million in 2021 to US$4,369 million in 2022, US$5,007 million in 2023, US$6,355 million in 2024, and finally to US$3,141 million in 2025. The portion attributable to Honeywell followed a similar trajectory. A significant portion of the fluctuations in comprehensive income appears to be driven by items within other comprehensive income (loss).
- Foreign Exchange Translation Adjustments
- Foreign exchange translation adjustments were initially positive at US$302 million in 2021, but became negative in subsequent years, reaching a substantial negative value of US$883 million in 2025. This indicates increasing adverse effects from currency fluctuations on the company’s international operations. The volatility suggests significant shifts in exchange rates impacting reported earnings.
- Pension and Postretirement Benefit Adjustments
- Pensions and other postretirement benefit adjustments demonstrated considerable fluctuation. Beginning at US$186 million in 2021, these adjustments turned negative in 2022 and 2023, reaching a low of US$-407 million, before becoming positive again in 2024 at US$413 million, and then sharply negative in 2025 at US$-736 million. This volatility likely reflects changes in actuarial assumptions, plan amendments, and settlement activities.
- Actuarial Gains (Losses)
- Actuarial gains and losses recognized in other comprehensive income were also volatile. Positive gains of US$256 million in 2021 were followed by losses in 2022 and 2023, before returning to gains in 2024. However, 2025 saw a significant loss of US$752 million. The related actuarial gains/losses recognized *during* the year show a similar pattern, with a notable increase in losses recognized in 2025.
- Cash Flow Hedges
- Cash flow hedges recognized in other comprehensive income (loss) showed moderate fluctuations, generally remaining positive until 2025, when a loss of US$16 million was recorded. Reclassification adjustments for gains/losses included in net income were consistently negative, though relatively small in magnitude, suggesting a consistent transfer of hedge gains/losses from other comprehensive income to net income. Changes in the fair value of cash flow hedges were also relatively small and fluctuated between positive and negative values.
- Other Comprehensive Income
- Other comprehensive income (loss), net of tax, experienced substantial swings. A positive value of US$482 million in 2021 was followed by a loss of US$598 million in 2022, a larger loss of US$665 million in 2023, a gain of US$615 million in 2024, and a significant loss of US$1,631 million in 2025. This volatility significantly impacted overall comprehensive income. The large negative value in 2025 was primarily driven by the foreign exchange translation adjustment and pension adjustments.
The comprehensive income attributable to the noncontrolling interest remained relatively small, fluctuating between US$-64 million and US$17 million, with a larger outflow of US$-67 million in 2025. This suggests a limited impact from noncontrolling interests on the overall financial performance.