Analysis of Debt

Advanced level

Honeywell International Inc., balance sheet: debt

US$ in millions

	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Commercial paper and other short-term borrowings	3,597	3,516	3,586	3,958	3,366
Current maturities of long-term debt	2,445	1,376	2,872	1,351	227
Long-term debt, excluding current maturities	16,342	11,110	9,756	12,573	12,182
Total debt (carrying amount)	22,384	16,002	16,214	17,882	15,775

Debt item	Description	The company
Total debt (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Honeywell International Inc.’s total debt decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.

	Dec 31, 2020
Selected Financial Data (US$ in millions)
Commercial paper and other short-term borrowings	3,597
Long-term debt and related current maturities	20,176
Total debt (fair value)	23,773
Financial Ratio
Debt, fair value to carrying amount ratio	1.06

Weighted average interest rate on debt: 2.30%

Interest rate	Debt amount¹	Interest rate × Debt amount
4.25%	800	34
1.85%	1,500	28
0.48%	2,500	12
2.15%	600	13
1.30%	1,534	20
3.35%	300	10
0.00%	614	—
2.30%	750	17
1.35%	1,250	17
2.50%	1,500	38
2.25%	920	21
2.70%	750	20
1.95%	1,000	20
0.75%	614	5
5.70%	441	25
5.70%	462	26
5.38%	417	22
3.81%	445	17
2.80%	750	21
6.63%	201	13
9.07%	51	5
8.90%	266	24
Total	17,665	407
2.30%

¹ US$ in millions

² Weighted-average interest rate = 100 × 407 ÷ 17,665 = 2.30%

Honeywell International Inc. (NYSE:HON)