Honeywell International Inc., debt to equity, long-term trends, calculation

	Debt to equity	=	Commercial paper, other short-term borrowings and long-term debt¹	÷	Total Honeywell shareowners’ equity¹
Dec 31, 2019	0.87	=	16,002	÷	18,494
Dec 31, 2018	0.89	=	16,214	÷	18,180
Dec 31, 2017	1.04	=	17,882	÷	17,276
Dec 31, 2016	0.81	=	15,775	÷	19,369
Dec 31, 2015	0.66	=	12,068	÷	18,283
Dec 31, 2014	0.49	=	8,683	÷	17,657
Dec 31, 2013	0.51	=	8,829	÷	17,467
Dec 31, 2012	0.58	=	7,496	÷	12,975
Dec 31, 2011	0.70	=	7,555	÷	10,806
Dec 31, 2010	0.62	=	6,644	÷	10,666
Dec 31, 2009	0.86	=	7,607	÷	8,844
Dec 31, 2008	1.17	=	8,375	÷	7,187
Dec 31, 2007	0.83	=	7,657	÷	9,222
Dec 31, 2006	0.52	=	5,063	÷	9,720
Dec 31, 2005	0.45	=	5,106	÷	11,254

¹ US$ in millions

Honeywell International Inc., debt to equity, long-term trends, comparison to competitors

	Honeywell International Inc.	3M Co.	General Electric Co.
Dec 31, 2019	0.87	2.02	3.21
Dec 31, 2018	0.89	1.49	3.55
Dec 31, 2017	1.04	1.21	2.09
Dec 31, 2016	0.81	1.13	1.80
Dec 31, 2015	0.66	0.92	2.02
Dec 31, 2014	0.49	0.52	2.85
Dec 31, 2013	0.51	0.34	2.93
Dec 31, 2012	0.58	0.34	3.37
Dec 31, 2011	0.70	0.34	3.89
Dec 31, 2010	0.62	0.35	4.02
Dec 31, 2009	0.86	0.45	4.35
Dec 31, 2008	1.17	0.68	5.00
Dec 31, 2007	0.83	0.42	4.45
Dec 31, 2006	0.52	0.36	3.85
Dec 31, 2005	0.45	0.24	3.39

Honeywell International Inc., debt to equity, long-term trends, comparison to sector (general industrials)

	Honeywell International Inc.	General Industrials
Dec 31, 2019	0.87	2.24
Dec 31, 2018	0.89	2.39
Dec 31, 2017	1.04	1.79
Dec 31, 2016	0.81	1.55
Dec 31, 2015	0.66	1.72
Dec 31, 2014	0.49	2.39
Dec 31, 2013	0.51	2.40
Dec 31, 2012	0.58	2.78
Dec 31, 2011	0.70	3.27
Dec 31, 2010	0.62	3.38
Dec 31, 2009	0.86	3.77
Dec 31, 2008	1.17	4.43
Dec 31, 2007	0.83	3.86
Dec 31, 2006	0.52	3.35
Dec 31, 2005	0.45	2.89

Honeywell International Inc., debt to equity, long-term trends, comparison to industry (industrials)

	Honeywell International Inc.	Industrials
Dec 31, 2019	0.87	1.74
Dec 31, 2018	0.89	1.71
Dec 31, 2017	1.04	1.50
Dec 31, 2016	0.81	1.40
Dec 31, 2015	0.66	1.38
Dec 31, 2014	0.49	1.63
Dec 31, 2013	0.51	1.51
Dec 31, 2012	0.58	1.85
Dec 31, 2011	0.70	2.03
Dec 31, 2010	0.62	2.06
Dec 31, 2009	0.86	2.30
Dec 31, 2008	1.17	2.70
Dec 31, 2007	0.83	2.13
Dec 31, 2006	0.52	1.92
Dec 31, 2005	0.45	1.70

Honeywell International Inc. (NYSE:HON)

Debt to Equity
since 2005