Honeywell International Inc., ROE, long-term trends, calculation

	ROE	=	100	×	Net income attributable to Honeywell¹	÷	Total Honeywell shareowners’ equity¹
Dec 31, 2005	14.71%	=	100	×	1,655	÷	11,254
Dec 31, 2006	21.43%	=	100	×	2,083	÷	9,720
Dec 31, 2007	26.50%	=	100	×	2,444	÷	9,222
Dec 31, 2008	38.85%	=	100	×	2,792	÷	7,187
Dec 31, 2009	24.34%	=	100	×	2,153	÷	8,844
Dec 31, 2010	18.96%	=	100	×	2,022	÷	10,666
Dec 31, 2011	19.13%	=	100	×	2,067	÷	10,806
Dec 31, 2012	22.55%	=	100	×	2,926	÷	12,975
Dec 31, 2013	22.47%	=	100	×	3,924	÷	17,467
Dec 31, 2014	24.01%	=	100	×	4,239	÷	17,657
Dec 31, 2015	26.08%	=	100	×	4,768	÷	18,283
Dec 31, 2016	24.83%	=	100	×	4,809	÷	19,369
Dec 31, 2017	9.58%	=	100	×	1,655	÷	17,276
Dec 31, 2018	37.21%	=	100	×	6,765	÷	18,180

¹ USD $ in millions

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

	Honeywell International Inc.	3M Co.	Danaher Corp.	General Electric Co.
Dec 31, 2005	14.71%	31.67%	17.67%	14.95%
Dec 31, 2006	21.43%	38.67%	16.89%	18.55%
Dec 31, 2007	26.50%	34.87%	15.08%	19.22%
Dec 31, 2008	38.85%	35.02%	13.43%	16.63%
Dec 31, 2009	24.34%	25.02%	9.90%	9.40%
Dec 31, 2010	18.96%	26.08%	13.08%	9.79%
Dec 31, 2011	19.13%	27.78%	12.85%	12.15%
Dec 31, 2012	22.55%	25.29%	12.58%	11.09%
Dec 31, 2013	22.47%	26.62%	12.04%	10.00%
Dec 31, 2014	24.01%	37.81%	11.11%	11.89%
Dec 31, 2015	26.08%	41.28%	14.17%	-6.23%
Dec 31, 2016	24.83%	49.04%	11.10%	11.65%
Dec 31, 2017	9.58%	42.01%	9.45%	-9.00%
Dec 31, 2018	37.21%	54.60%	–	–

Honeywell International Inc., ROE, long-term trends, comparison to General Industrials sector

	Honeywell International Inc.	General Industrials
Dec 31, 2005	14.71%	16.28%
Dec 31, 2006	21.43%	20.11%
Dec 31, 2007	26.50%	20.68%
Dec 31, 2008	38.85%	18.99%
Dec 31, 2009	24.34%	11.64%
Dec 31, 2010	18.96%	12.29%
Dec 31, 2011	19.13%	14.21%
Dec 31, 2012	22.55%	13.56%
Dec 31, 2013	22.47%	12.95%
Dec 31, 2014	24.01%	14.82%
Dec 31, 2015	26.08%	4.50%
Dec 31, 2016	24.83%	16.53%
Dec 31, 2017	9.58%	2.69%
Dec 31, 2018	37.21%	–

Honeywell International Inc., ROE, long-term trends, comparison to Industrials industry

	Honeywell International Inc.	Industrials
Dec 31, 2005	14.71%	16.96%
Dec 31, 2006	21.43%	20.67%
Dec 31, 2007	26.50%	20.38%
Dec 31, 2008	38.85%	22.19%
Dec 31, 2009	24.34%	14.84%
Dec 31, 2010	18.96%	17.76%
Dec 31, 2011	19.13%	20.70%
Dec 31, 2012	22.55%	18.72%
Dec 31, 2013	22.47%	17.80%
Dec 31, 2014	24.01%	21.32%
Dec 31, 2015	26.08%	17.80%
Dec 31, 2016	24.83%	24.02%
Dec 31, 2017	9.58%	21.24%
Dec 31, 2018	37.21%	–

Honeywell International Inc. (HON)

Return on Equity (ROE)
since 2005