Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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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., common-size consolidated balance sheet: liabilities and stockholders’ equity
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).
The composition of liabilities and shareowners’ equity at the company underwent notable shifts between 2021 and 2025. Overall, the proportion of total liabilities increased significantly over the period, while the share of equity decreased. A detailed examination of specific liability and equity components reveals several key trends.
- Current Liabilities
- Current liabilities as a percentage of the total remained relatively stable, fluctuating between 28.27% and 32.02% throughout the period. However, a slight increase is observed in 2025, reaching 31.78%. Within current liabilities, accounts payable remained consistently around 10% of the total, with a slight decrease observed in the later years. Commercial paper and other short-term borrowings exhibited volatility, increasing from 4.36% in 2022 to 8.00% in 2025. Accrued liabilities increased substantially from 11.91% in 2021 to 14.71% in 2022, before decreasing to 11.48% in 2025.
- Long-Term Liabilities
- Long-term debt, excluding current maturities, demonstrated a consistent upward trend, increasing from 22.11% in 2021 to 36.84% in 2025. Deferred income taxes decreased steadily over the period, falling from 3.67% to 2.14%. Other long-term liabilities, including environmental costs and derivative liabilities, generally increased, with derivative liabilities appearing in 2025 at 0.97% of the total. Asbestos-related liabilities decreased from 2.79% in 2021 to 1.76% in 2023, with no value reported in 2025.
- Shareowners’ Equity
- Total shareowners’ equity decreased significantly as a percentage of the total, declining from 29.85% in 2021 to 20.40% in 2025. This decline was primarily driven by a substantial decrease in treasury stock, which is reflected as a negative value, becoming more negative over time. Retained earnings remained the largest component of equity, fluctuating between 66.43% and 77.98%, but ultimately decreased to 69.17% in 2025. Common stock issued and additional paid-in capital remained relatively stable. Accumulated other comprehensive loss also became more negative over the period.
- Specific Liability Items
- Several specific liability items exhibited notable changes. The NARCO Buyout accrual appeared only in 2022 at 2.13%. Liabilities held for sale were not present until 2024, increasing to 1.63% in 2025. Income taxes as a percentage of the total increased from 0.61% to 1.28% between 2021 and 2023, before decreasing to 1.07% in 2025. Repositioning liabilities decreased steadily from 0.64% to 0.23%. Insurance liabilities also showed a consistent decline.
In summary, the company experienced a shift towards greater reliance on liabilities for financing, coupled with a decrease in the proportion of equity. This trend was driven by increases in long-term debt and fluctuations in various current liability accounts, alongside a significant decrease in treasury stock. The changes in specific liability items suggest ongoing adjustments in the company’s financial structure and risk management practices.