Adjustments to Financial Statements
Advanced level
Adjustments to Current Assets
Honeywell International Inc., adjusted current assets
US$ in millions
|
|
Dec 31, 2020 |
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
|
As Reported |
|
Current assets |
28,175 | 24,303 | 24,362 | 26,002 | 23,058 |
|
Adjustments |
|
Add: Allowance for doubtful accounts |
202 | 146 | 197 | 202 | 305 |
|
Add: LIFO reserve1 |
— | 45 | 39 | 39 | 65 |
|
After Adjustment |
|
Adjusted current assets |
28,377 |
24,494 |
24,598 |
26,243 |
23,428 |
Based on:
10-K (filing date: 2021-02-12),
10-K (filing date: 2020-02-14),
10-K (filing date: 2019-02-08),
10-K (filing date: 2018-02-09),
10-K (filing date: 2017-02-10).
Adjustments to Total Assets
Honeywell International Inc., adjusted total assets
US$ in millions
|
|
Dec 31, 2020 |
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
|
As Reported |
|
Total assets |
64,586 | 58,679 | 57,773 | 59,387 | 54,146 |
|
Adjustments |
|
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 |
— | — | 789 | 1,040 | 1,017 |
|
Add: Allowance for doubtful accounts |
202 | 146 | 197 | 202 | 305 |
|
Add: LIFO reserve2 |
— | 45 | 39 | 39 | 65 |
|
Less: Deferred tax assets3 |
760 | 86 | 382 | 236 | 347 |
|
After Adjustment |
|
Adjusted total assets |
64,028 |
58,784 |
58,416 |
60,432 |
55,186 |
Based on:
10-K (filing date: 2021-02-12),
10-K (filing date: 2020-02-14),
10-K (filing date: 2019-02-08),
10-K (filing date: 2018-02-09),
10-K (filing date: 2017-02-10).
Adjustments to Current Liabilities
Honeywell International Inc., adjusted current liabilities
US$ in millions
|
|
Dec 31, 2020 |
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
|
As Reported |
|
Current liabilities |
19,197 | 18,098 | 18,924 | 18,861 | 16,331 |
|
Adjustments |
|
Less: Current customer advances and deferred income |
2,932 | 2,490 | 2,403 | 2,198 | 2,151 |
|
Less: Current obligations for product warranties and product performance guarantees |
183 | 213 | 243 | 307 | 351 |
|
Less: Current repositioning reserves |
601 | 640 | 566 | 508 | 322 |
|
After Adjustment |
|
Adjusted current liabilities |
15,481 |
14,755 |
15,712 |
15,848 |
13,507 |
Based on:
10-K (filing date: 2021-02-12),
10-K (filing date: 2020-02-14),
10-K (filing date: 2019-02-08),
10-K (filing date: 2018-02-09),
10-K (filing date: 2017-02-10).
Adjustments to Total Liabilities
Honeywell International Inc., adjusted total liabilities
US$ in millions
|
|
Dec 31, 2020 |
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
|
As Reported |
|
Total liabilities |
46,789 | 39,966 | 39,408 | 41,943 | 34,596 |
|
Adjustments |
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | — | 789 | 1,040 | 1,017 |
|
Less: Deferred tax liabilities2 |
2,113 | 1,670 | 1,713 | 2,894 | 486 |
|
Less: Customer advances and deferred income |
4,288 | 3,800 | 3,667 | 2,274 | 2,232 |
|
Less: Obligations for product warranties and product performance guarantees |
243 | 269 | 310 | 408 | 487 |
|
Less: Repositioning reserves |
601 | 651 | 566 | 513 | 331 |
|
After Adjustment |
|
Adjusted total liabilities |
39,544 |
33,576 |
33,941 |
36,894 |
32,077 |
Based on:
10-K (filing date: 2021-02-12),
10-K (filing date: 2020-02-14),
10-K (filing date: 2019-02-08),
10-K (filing date: 2018-02-09),
10-K (filing date: 2017-02-10).
Adjustments to Stockholders’ Equity
Honeywell International Inc., adjusted total Honeywell shareowners’ equity
US$ in millions
|
|
Dec 31, 2020 |
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
|
As Reported |
|
Total Honeywell shareowners’ equity |
17,549 | 18,494 | 18,180 | 17,276 | 19,369 |
|
Adjustments |
|
Less: Net deferred tax asset (liability)1 |
(1,353) | (1,584) | (1,331) | (2,658) | (139) |
|
Add: Allowance for doubtful accounts |
202 | 146 | 197 | 202 | 305 |
|
Add: LIFO reserve2 |
— | 45 | 39 | 39 | 65 |
|
Add: Customer advances and deferred income |
4,288 | 3,800 | 3,667 | 2,274 | 2,232 |
|
Add: Obligations for product warranties and product performance guarantees |
243 | 269 | 310 | 408 | 487 |
|
Add: Repositioning reserves |
601 | 651 | 566 | 513 | 331 |
|
Add: Redeemable noncontrolling interest |
7 | 7 | 7 | 5 | 3 |
|
Add: Noncontrolling interest |
241 | 212 | 178 | 163 | 178 |
|
After Adjustment |
|
Adjusted total shareowners’ equity |
24,484 |
25,208 |
24,475 |
23,538 |
23,109 |
Based on:
10-K (filing date: 2021-02-12),
10-K (filing date: 2020-02-14),
10-K (filing date: 2019-02-08),
10-K (filing date: 2018-02-09),
10-K (filing date: 2017-02-10).
Adjustments to Capitalization Table
Honeywell International Inc., adjusted capitalization table
US$ in millions
|
|
Dec 31, 2020 |
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
|
As Reported |
|
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 reported debt |
22,384 |
16,002 |
16,214 |
17,882 |
15,775 |
|
Total Honeywell shareowners’ equity |
17,549 | 18,494 | 18,180 | 17,276 | 19,369 |
|
Total reported capital |
39,933 |
34,496 |
34,394 |
35,158 |
35,144 |
|
Adjustments to Debt |
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | — | 789 | 1,040 | 1,017 |
|
Add: Current operating lease liabilities2 |
187 | 171 | — | — | — |
|
Add: Non-current operating lease liabilities3 |
641 | 534 | — | — | — |
|
Adjusted total debt |
23,212 |
16,707 |
17,003 |
18,922 |
16,792 |
|
Adjustments to Equity |
|
Less: Net deferred tax asset (liability)4 |
(1,353) | (1,584) | (1,331) | (2,658) | (139) |
|
Add: Allowance for doubtful accounts |
202 | 146 | 197 | 202 | 305 |
|
Add: LIFO reserve5 |
— | 45 | 39 | 39 | 65 |
|
Add: Customer advances and deferred income |
4,288 | 3,800 | 3,667 | 2,274 | 2,232 |
|
Add: Obligations for product warranties and product performance guarantees |
243 | 269 | 310 | 408 | 487 |
|
Add: Repositioning reserves |
601 | 651 | 566 | 513 | 331 |
|
Add: Redeemable noncontrolling interest |
7 | 7 | 7 | 5 | 3 |
|
Add: Noncontrolling interest |
241 | 212 | 178 | 163 | 178 |
|
Adjusted total shareowners’ equity |
24,484 |
25,208 |
24,475 |
23,538 |
23,109 |
|
After Adjustment |
|
Adjusted total capital |
47,696 |
41,915 |
41,478 |
42,460 |
39,901 |
Based on:
10-K (filing date: 2021-02-12),
10-K (filing date: 2020-02-14),
10-K (filing date: 2019-02-08),
10-K (filing date: 2018-02-09),
10-K (filing date: 2017-02-10).
Adjustments to Revenues
Honeywell International Inc., adjusted net sales
US$ in millions
|
12 months ended: |
Dec 31, 2020 |
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
|
As Reported |
|
Net sales |
32,637 | 36,709 | 41,802 | 40,534 | 39,302 |
|
Adjustment |
|
Add: Increase (decrease) in customer advances and deferred income |
488 | 133 | 1,393 | 42 | 270 |
|
After Adjustment |
|
Adjusted net sales |
33,125 |
36,842 |
43,195 |
40,576 |
39,572 |
Based on:
10-K (filing date: 2021-02-12),
10-K (filing date: 2020-02-14),
10-K (filing date: 2019-02-08),
10-K (filing date: 2018-02-09),
10-K (filing date: 2017-02-10).
Adjustments to Reported Income
Honeywell International Inc., adjusted net income attributable to Honeywell
US$ in millions
|
12 months ended: |
Dec 31, 2020 |
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
|
As Reported |
|
Net income attributable to Honeywell |
4,779 | 6,143 | 6,765 | 1,655 | 4,809 |
|
Adjustments |
|
Add: Deferred income tax expense (benefit)1 |
(175) | 179 | (586) | 2,294 | 76 |
|
Add: Increase (decrease) in allowance for doubtful accounts |
56 | (51) | (5) | (70) | 43 |
|
Add: Increase (decrease) in LIFO reserve2 |
(45) | 6 | — | (26) | (51) |
|
Add: Increase (decrease) in customer advances and deferred income |
488 | 133 | 1,393 | 42 | 270 |
|
Add: Increase (decrease) in obligations for product warranties and product performance guarantees |
(26) | (41) | (98) | (79) | 71 |
|
Add: Increase (decrease) in repositioning reserves |
(50) | 85 | 53 | 182 | (19) |
|
Add: Other comprehensive income (loss), net of tax |
(177) | 240 | (1,206) | 479 | (179) |
|
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest |
89 | 82 | 53 | 51 | 29 |
|
After Adjustment |
|
Adjusted net income |
4,939 |
6,776 |
6,369 |
4,528 |
5,049 |
Based on:
10-K (filing date: 2021-02-12),
10-K (filing date: 2020-02-14),
10-K (filing date: 2019-02-08),
10-K (filing date: 2018-02-09),
10-K (filing date: 2017-02-10).