Context:
Financial Statements:
| Column 1                                                                      | Column 2              | Column 3   | Column 4          | Column 5   | Column 6   | Column 7   | Column 8   | Column 9   | Column 10   | Column 11   | Column 12   |
|:------------------------------------------------------------------------------|:----------------------|:-----------|:------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
|                                                                               |                       |            |                   |            |            |            |            |            |             |             |             |
|                                                                               | June 30, 2020         |            | December 31, 2019 |            |            |            |            |            |             |             |             |
|                                                                               | (Dollars in millions) |            |                   |            |            |            |            |            |             |             |             |
| ASSETS                                                                        |                       |            |                   |            |            |            |            |            |             |             |             |
| Current assets:                                                               |                       |            |                   |            |            |            |            |            |             |             |             |
| Cash and cash equivalents                                                     | $                     | 13,778     |                   |            | $          | 9,067      |            |            |             |             |             |
| Short-term investments                                                        | 1,349                 |            |                   | 1,349      |            |            |            |            |             |             |             |
| Accounts receivable - net                                                     | 6,717                 |            |                   | 7,493      |            |            |            |            |             |             |             |
| Inventories                                                                   | 4,753                 |            |                   | 4,421      |            |            |            |            |             |             |             |
| Other current assets                                                          | 1,724                 |            |                   | 1,973      |            |            |            |            |             |             |             |
| Total current assets                                                          | 28,321                |            |                   | 24,303     |            |            |            |            |             |             |             |
| Investments and long-term receivables                                         | 626                   |            |                   | 588        |            |            |            |            |             |             |             |
| Property, plant and equipment - net                                           | 5,327                 |            |                   | 5,325      |            |            |            |            |             |             |             |
| Goodwill                                                                      | 15,518                |            |                   | 15,563     |            |            |            |            |             |             |             |
| Other intangible assets - net                                                 | 3,551                 |            |                   | 3,734      |            |            |            |            |             |             |             |
| Insurance recoveries for asbestos related liabilities                         | 379                   |            |                   | 392        |            |            |            |            |             |             |             |
| Deferred income taxes                                                         | 106                   |            |                   | 86         |            |            |            |            |             |             |             |
| Other assets                                                                  | 9,776                 |            |                   | 8,688      |            |            |            |            |             |             |             |
| Total assets                                                                  | $                     | 63,604     |                   |            | $          | 58,679     |            |            |             |             |             |
| LIABILITIES                                                                   |                       |            |                   |            |            |            |            |            |             |             |             |
| Current liabilities:                                                          |                       |            |                   |            |            |            |            |            |             |             |             |
| Accounts payable                                                              | $                     | 5,366      |                   |            | $          | 5,730      |            |            |             |             |             |
| Commercial paper and other short-term borrowings                              | 3,531                 |            |                   | 3,516      |            |            |            |            |             |             |             |
| Current maturities of long-term debt                                          | 967                   |            |                   | 1,376      |            |            |            |            |             |             |             |
| Accrued liabilities                                                           | 7,477                 |            |                   | 7,476      |            |            |            |            |             |             |             |
| Total current liabilities                                                     | 17,341                |            |                   | 18,098     |            |            |            |            |             |             |             |
| Long-term debt                                                                | 17,591                |            |                   | 11,110     |            |            |            |            |             |             |             |
| Deferred income taxes                                                         | 1,461                 |            |                   | 1,670      |            |            |            |            |             |             |             |
| Postretirement benefit obligations other than pensions                        | 317                   |            |                   | 326        |            |            |            |            |             |             |             |
| Asbestos related liabilities                                                  | 1,894                 |            |                   | 1,996      |            |            |            |            |             |             |             |
| Other liabilities                                                             | 6,627                 |            |                   | 6,766      |            |            |            |            |             |             |             |
| Redeemable noncontrolling interest                                            | 7                     |            |                   | 7          |            |            |            |            |             |             |             |
| SHAREOWNERS’ EQUITY                                                           |                       |            |                   |            |            |            |            |            |             |             |             |
| Capital - common stock issued                                                 | 958                   |            |                   | 958        |            |            |            |            |             |             |             |
| - additional paid-in capital                                                  | 7,104                 |            |                   | 6,876      |            |            |            |            |             |             |             |
| Common stock held in treasury, at cost                                        | (25,685)              |            |                   | (23,836)   |            |            |            |            |             |             |             |
| Accumulated other comprehensive loss                                          | (3,310)               |            |                   | (3,197)    |            |            |            |            |             |             |             |
| Retained earnings                                                             | 39,080                |            |                   | 37,693     |            |            |            |            |             |             |             |
| Total Honeywell shareowners’ equity                                           | 18,147                |            |                   | 18,494     |            |            |            |            |             |             |             |
| Noncontrolling interest                                                       | 219                   |            |                   | 212        |            |            |            |            |             |             |             |
| Total shareowners’ equity                                                     | 18,366                |            |                   | 18,706     |            |            |            |            |             |             |             |
| Total liabilities, redeemable noncontrolling interest and shareowners’ equity | $                     | 63,604     |                   |            | $          | 58,679     |            |            |             |             |             |

---

| Column 1                                                                                                    | Column 2                  | Column 3   | Column 4   | Column 5   | Column 6   | Column 7   | Column 8   | Column 9   | Column 10   | Column 11   | Column 12   |
|:------------------------------------------------------------------------------------------------------------|:--------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|
|                                                                                                             |                           |            |            |            |            |            |            |            |             |             |             |
|                                                                                                             | Six Months Ended June 30, |            |            |            |            |            |            |            |             |             |             |
|                                                                                                             | 2020                      |            | 2019       |            |            |            |            |            |             |             |             |
|                                                                                                             | (Dollars in millions)     |            |            |            |            |            |            |            |             |             |             |
| Cash flows from operating activities:                                                                       |                           |            |            |            |            |            |            |            |             |             |             |
| Net income                                                                                                  | $                         | 2,705      |            |            | $          | 2,992      |            |            |             |             |             |
| Less: Net income attributable to the noncontrolling interest                                                | 43                        |            |            | 35         |            |            |            |            |             |             |             |
| Net income attributable to Honeywell                                                                        | 2,662                     |            |            | 2,957      |            |            |            |            |             |             |             |
| Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: |                           |            |            |            |            |            |            |            |             |             |             |
| Depreciation                                                                                                | 314                       |            |            | 335        |            |            |            |            |             |             |             |
| Amortization                                                                                                | 179                       |            |            | 221        |            |            |            |            |             |             |             |
|                                                                                                             |                           |            |            |            |            |            |            |            |             |             |             |
| Repositioning and other charges                                                                             | 342                       |            |            | 210        |            |            |            |            |             |             |             |
| Net payments for repositioning and other charges                                                            | (309)                     |            |            | (85)       |            |            |            |            |             |             |             |
| Pension and other postretirement income                                                                     | (423)                     |            |            | (322)      |            |            |            |            |             |             |             |
| Pension and other postretirement benefit payments                                                           | (23)                      |            |            | (45)       |            |            |            |            |             |             |             |
| Stock compensation expense                                                                                  | 78                        |            |            | 75         |            |            |            |            |             |             |             |
| Deferred income taxes                                                                                       | (277)                     |            |            | 44         |            |            |            |            |             |             |             |
| Other                                                                                                       | (285)                     |            |            | 5          |            |            |            |            |             |             |             |
| Changes in assets and liabilities, net of the effects of acquisitions and divestitures:                     |                           |            |            |            |            |            |            |            |             |             |             |
| Accounts receivable                                                                                         | 776                       |            |            | 98         |            |            |            |            |             |             |             |
| Inventories                                                                                                 | (331)                     |            |            | (273)      |            |            |            |            |             |             |             |
| Other current assets                                                                                        | 106                       |            |            | (239)      |            |            |            |            |             |             |             |
| Accounts payable                                                                                            | (364)                     |            |            | (8)        |            |            |            |            |             |             |             |
| Accrued liabilities                                                                                         | (26)                      |            |            | (161)      |            |            |            |            |             |             |             |
| Net cash provided by (used for) operating activities                                                        | 2,419                     |            |            | 2,812      |            |            |            |            |             |             |             |
| Cash flows from investing activities:                                                                       |                           |            |            |            |            |            |            |            |             |             |             |
| Expenditures for property, plant and equipment                                                              | (366)                     |            |            | (312)      |            |            |            |            |             |             |             |
| Proceeds from disposals of property, plant and equipment                                                    | 7                         |            |            | 10         |            |            |            |            |             |             |             |
| Increase in investments                                                                                     | (1,671)                   |            |            | (2,274)    |            |            |            |            |             |             |             |
| Decrease in investments                                                                                     | 1,589                     |            |            | 2,163      |            |            |            |            |             |             |             |
|                                                                                                             |                           |            |            |            |            |            |            |            |             |             |             |
| Receipts (payments) from settlements of derivative contracts                                                | 83                        |            |            | 70         |            |            |            |            |             |             |             |
| Net cash provided by (used for) investing activities                                                        | (358)                     |            |            | (343)      |            |            |            |            |             |             |             |
| Cash flows from financing activities:                                                                       |                           |            |            |            |            |            |            |            |             |             |             |
| Proceeds from issuance of commercial paper and other short-term borrowings                                  | 7,165                     |            |            | 7,114      |            |            |            |            |             |             |             |
| Payments of commercial paper and other short-term borrowings                                                | (7,094)                   |            |            | (7,115)    |            |            |            |            |             |             |             |
| Proceeds from issuance of common stock                                                                      | 97                        |            |            | 378        |            |            |            |            |             |             |             |
| Proceeds from issuance of long-term debt                                                                    | 7,101                     |            |            | 29         |            |            |            |            |             |             |             |
| Payments of long-term debt                                                                                  | (1,218)                   |            |            | (84)       |            |            |            |            |             |             |             |
| Repurchases of common stock                                                                                 | (1,985)                   |            |            | (2,650)    |            |            |            |            |             |             |             |
| Cash dividends paid                                                                                         | (1,285)                   |            |            | (1,203)    |            |            |            |            |             |             |             |
| Other                                                                                                       | (40)                      |            |            | (32)       |            |            |            |            |             |             |             |
| Net cash provided by (used for) financing activities                                                        | 2,741                     |            |            | (3,563)    |            |            |            |            |             |             |             |
| Effect of foreign exchange rate changes on cash and cash equivalents                                        | (91)                      |            |            | 32         |            |            |            |            |             |             |             |
| Net increase (decrease) in cash and cash equivalents                                                        | 4,711                     |            |            | (1,062)    |            |            |            |            |             |             |             |
| Cash and cash equivalents at beginning of period                                                            | 9,067                     |            |            | 9,287      |            |            |            |            |             |             |             |
| Cash and cash equivalents at end of period                                                                  | $                         | 13,778     |            |            | $          | 8,225      |            |            |             |             |             |

---

| Column 1                                                     | Column 2                                        | Column 3   | Column 4   | Column 5   | Column 6                  | Column 7   | Column 8   | Column 9   | Column 10   | Column 11   | Column 12   | Column 13   | Column 14   | Column 15   | Column 16   | Column 17   | Column 18   | Column 19   | Column 20   | Column 21   | Column 22   | Column 23   | Column 24   |
|:-------------------------------------------------------------|:------------------------------------------------|:-----------|:-----------|:-----------|:--------------------------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
|                                                              |                                                 |            |            |            |                           |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                              | Three Months Ended June 30,                     |            |            |            | Six Months Ended June 30, |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                              | 2020                                            |            | 2019       |            | 2020                      |            | 2019       |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                              | (Dollars in millions, except per share amounts) |            |            |            |                           |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Product sales                                                | $                                               | 5,743      |            |            | $                         | 6,990      |            |            | $           | 12,048      |             |             | $           | 13,703      |             |             |             |             |             |             |             |             |             |
| Service sales                                                | 1,734                                           |            |            | 2,253      |                           |            | 3,892      |            |             | 4,424       |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Net sales                                                    | 7,477                                           |            |            | 9,243      |                           |            | 15,940     |            |             | 18,127      |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Costs, expenses and other                                    |                                                 |            |            |            |                           |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Cost of products sold                                        | 4,163                                           |            |            | 4,848      |                           |            | 8,537      |            |             | 9,470       |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Cost of services sold                                        | 1,113                                           |            |            | 1,246      |                           |            | 2,273      |            |             | 2,503       |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                              | 5,276                                           |            |            | 6,094      |                           |            | 10,810     |            |             | 11,973      |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Selling, general and administrative expenses                 | 1,183                                           |            |            | 1,387      |                           |            | 2,421      |            |             | 2,750       |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Other (income) expense                                       | (291)                                           |            |            | (305)      |                           |            | (608)      |            |             | (590)       |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Interest and other financial charges                         | 90                                              |            |            | 85         |                           |            | 163        |            |             | 170         |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                              | 6,258                                           |            |            | 7,261      |                           |            | 12,786     |            |             | 14,303      |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Income before taxes                                          | 1,219                                           |            |            | 1,982      |                           |            | 3,154      |            |             | 3,824       |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Tax expense (benefit)                                        | 120                                             |            |            | 426        |                           |            | 449        |            |             | 832         |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Net income                                                   | 1,099                                           |            |            | 1,556      |                           |            | 2,705      |            |             | 2,992       |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Less: Net income attributable to the noncontrolling interest | 18                                              |            |            | 15         |                           |            | 43         |            |             | 35          |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Net income attributable to Honeywell                         | $                                               | 1,081      |            |            | $                         | 1,541      |            |            | $           | 2,662       |             |             | $           | 2,957       |             |             |             |             |             |             |             |             |             |
| Earnings per share of common stock - basic                   | $                                               | 1.54       |            |            | $                         | 2.13       |            |            | $           | 3.77        |             |             | $           | 4.07        |             |             |             |             |             |             |             |             |             |
| Earnings per share of common stock - assuming dilution       | $                                               | 1.53       |            |            | $                         | 2.10       |            |            | $           | 3.74        |             |             | $           | 4.02        |             |             |             |             |             |             |             |             |             |

---

English News:
"Honeywell Reports EPS Of $1.53, Adjusted EPS Of $1.26; Delivers $1.5 Billion Of Operating Cash Flow - CHARLOTTE, N.C., July 24, 2020 /PRNewswire/ --Honeywell (NYSE: HON) today announced results for the second quarter of 2020, which were significantly impacted by the COVID-19 pandemic and oil price volatility. The company reported a second-quarter sales decline of 19%, down 18% organic, operating margin contraction of 550 basis points, and segment margin contraction of 280 basis points, with adjusted earnings per share2 of $1.26. \"The second quarter was a challenging one, but we executed on the three things that will enable us to weather this downturn: aggressively managing cost, driving sales growth where demand is strong, and investing in exciting new technologies that, through careful attention to customer and end-user needs, will help keep people safe when they get back to the workplace, back to play, back to travel, and back to life,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"In terms of cost management, we delivered $500 million in savings from the first phase of cost actions we announced earlier this year, and we funded over $250 million of repositioning in the quarter. In addition, we developed a second phase of cost actions that, when combined with our previously announced plan, will generate $1.4 billion to $1.6 billion of cost savings during 2020. We further enhanced our financial flexibility this quarter by issuing $3 billion of bonds at attractive rates, reducing our term loan from $6 billion to $3 billion, and fully drawing the remaining balance. We ended the quarter with $15.1 billion of cash and short-term investments on hand and an overfunded pension plan,\" Adamczyk said. \"We also remain focused on driving sales growth in areas that have not been as impacted by the current downturn. In the second quarter, our businesses serving the defense, warehouse automation, and personal protective equipment industries exhibited outstanding performance. Orders for Intelligrated were $1.2 billion in the quarter, up triple-digits year-over-year, positioning the business for continued growth. We committed approximately $250 million of incremental growth capital expenditures compared to our previous allocated budget for new projects to accelerate our investments in personal protective equipment, Intelligrated, and other growth areas,\" Adamczyk continued. \"With an exceptional, diverse portfolio of technologies that improve safety and help our customers to be more efficient, Honeywell is uniquely equipped to support our customers in the post-COVID world. We are actively investing in and introducing new solutions, such as an efficient and effective ultraviolet light cleaner for aircraft, temperature and PPE compliance monitoring solutions, technologies that can help building owners comply with new hygiene and social distancing policies, and a new pharmaceutical packaging system for bottles and vials that preserves shelf-life and drug efficacy. \"Our focus on sales, cost, and optimizing working capital, combined with our diverse portfolio and strong balance sheet, will enable Honeywell to adapt to and execute through the downturn. I am confident we will emerge well-positioned for the economic recovery to come,\" concluded Adamczyk. Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell previously announced that it has suspended providing full financial guidance until the economic impact of COVID-19 stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors. Second-Quarter Performance Honeywell sales for the second quarter were down 19% on a reported basis and down 18% on an organic basis. The difference between reported and organic sales primarily relates to the impact of foreign currency translation. The second-quarter financial results can be found in Tables 1 and 2. Aerospace sales for the second quarter were down 27% on an organic basis driven by lower commercial aftermarket demand due to steep declines in flight hours, reduced volumes in commercial original equipment, and the 737 MAX impact in air transport original equipment, partially offset by continued strength in the Defense and Space business. Segment margin contracted 510 basis points to 20.8% driven by lower volumes and sales mix. Honeywell Building Technologies sales for the second quarter were down 17% on an organic basis driven by lower demand for security, building management, and fire products, and delays in Building Solutions projects in key verticals. Segment margin expanded 50 basis points to 21.2%. Margin performance was driven by commercial excellence and productivity actions. Performance Materials and Technologies sales for the second quarter were down 17% on an organic basis driven by volume declines in products, including thermal solutions and smart energy, in Process Solutions; lower gas processing projects, catalyst shipments, and licensing due to softness in the oil and gas sector in UOP; and lower automotive refrigerant volumes in Advanced Materials, partially offset by strength in specialty products. Segment margin contracted 460 basis points to 18.9% driven by the impact of lower sales volumes, partially offset by productivity actions. Safety and Productivity Solutions sales for the second quarter were up 1% on an organic basis driven by double-digit Intelligrated growth and demand for respiratory personal protective equipment, partially offset by lower short-cycle sales volumes in sensing and IoT, productivity products, and gas sensing. Record high bookings of $0.7 billion in PPE and $1.2 billion in Intelligrated drove orders growth up approximately 90% year-over-year. Backlog was up over 100% year-over-year, including an all-time high Intelligrated backlog of over $2 billion. Segment margin expanded 150 basis points to 13.8% driven by productivity, net of inflation, and commercial excellence. Conference Call Details Honeywell will discuss its second-quarter results and third-quarter outlook during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. To participate on the conference call, please dial (866) 548-4713 (domestic) or (323) 794-2093 (international) approximately ten minutes before the 8:30 a.m. EDT start.Please mention to the operator that you are dialing in for Honeywell's second-quarter 2020 earnings call or provide the conference code HON2Q20. The live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). Investors can hear a replay of the conference call from 12:30 p.m. EDT, July 24, until 12:30 p.m. EDT, July 31, by dialing (888) 203-1112 (domestic) or (719) 457-0820 (international). The access code is 7938730. TABLE 1: SUMMARY OF HONEYWELL FINANCIAL RESULTS 2Q 2020 2Q 2019 Change Sales 7,477 9,243 (19%) Organic Growth (18%) Segment Margin 18.5% 21.3% -280 bps Operating Income Margin 13.6% 19.1% -550 bps Earnings Per Share $1.53 $2.10 (27%) Adjusted Earnings Per Share2 $1.26 $2.10 (40%) Cash Flow from Operations 1,480 1,678 (12%) Operating Cash Flow Conversion 137% 109% 28% Free Cash Flow 1,253 1,507 (17%) Adjusted Free Cash Flow3 1,253 1,535 (18%) Adjusted Free Cash Flow Conversion1 140% 100% 40% TABLE 2: SUMMARY OF SEGMENT FINANCIAL RESULTS AEROSPACE 2Q 2020 2Q 2019 Change Sales 2,543 3,508 (28%) Organic Growth (27%) Segment Profit 528 907 (42%) Segment Margin 20.8% 25.9% -510 bps HONEYWELL BUILDING TECHNOLOGIES Sales 1,177 1,450 (19%) Organic Growth (17%) Segment Profit 250 300 (17%) Segment Margin 21.2% 20.7% 50 bps PERFORMANCE MATERIALS AND TECHNOLOGIES Sales 2,218 2,735 (19%) Organic Growth (17%) Segment Profit 419 644 (35%) Segment Margin 18.9% 23.5% -460 bps SAFETY AND PRODUCTIVITY SOLUTIONS Sales 1,539 1,550 (1%) Organic Growth 1% Segment Profit 213 191 12% Segment Margin 13.8% 12.3% 150 bps 1Adjusted free cash flow conversion excludes impacts from separation costs related to the spin-offs of $28M in 2Q19 and 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions 2Adjusted EPS and adjusted EPS V% exclude 2Q20 favorable resolution of a foreign tax matter related to the spin-off transactions 3Adjusted free cash flow excludes impacts from separation costs related to the spin-offs of $28M in 2Q19 Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. This release contains certain statements that may be deemed \"forward-looking statements\" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. No final decision will be taken with respect to such plans or proposals without prior satisfaction of any applicable requirements with respect to informing, consulting or negotiating with employees or their representatives. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: segment profit, on an overall Honeywell basis, a measure by which we assess operating performance, which we define as operating income adjusted for certain items as presented in the Appendix; segment margin, on an overall Honeywell basis, which we define as segment profit divided by sales; organic sales growth, which we define as sales growth less the impacts from foreign currency translation, and acquisitions and divestitures for the first 12 months following transaction date; free cash flow, which we define as cash flow from operations less capital expenditures; adjusted free cash flow, which we define as cash flow from operations less capital expenditures and which we adjust to exclude the impact of separation costs related to the spin-offs of Resideo and Garrett, if and as noted in the release; adjusted free cash flow conversion, which we define as adjusted free cash flow divided by net income attributable to Honeywell, excluding separation costs related to the spin-offs and the impact of the favorable resolution of a foreign tax matter related to the spin-off transactions, if and as noted in the release; and adjusted earnings per share, which we adjust to exclude the favorable resolution of a foreign tax matter related to the spin-off transactions. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These metrics should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Product sales $ 5,743 $ 6,990 $ 12,048 $ 13,703 Service sales 1,734 2,253 3,892 4,424 Net sales 7,477 9,243 15,940 18,127 Costs, expenses and other Cost of products sold (1) 4,163 4,848 8,537 9,470 Cost of services sold (1) 1,113 1,246 2,273 2,503 5,276 6,094 10,810 11,973 Selling, general and administrative expenses (1) 1,183 1,387 2,421 2,750 Other (income) expense (291) (305) (608) (590) Interest and other financial charges 90 85 163 170 6,258 7,261 12,786 14,303 Income before taxes 1,219 1,982 3,154 3,824 Tax expense (benefit) 120 426 449 832 Net income 1,099 1,556 2,705 2,992 Less: Net income attributable to the noncontrolling interest 18 15 43 35 Net income attributable to Honeywell $ 1,081 $ 1,541 $ 2,662 $ 2,957 Earnings per share of common stock - basic $ 1.54 $ 2.13 $ 3.77 $ 4.07 Earnings per share of common stock - assuming dilution $ 1.53 $ 2.10 $ 3.74 $ 4.02 Weighted average number of shares outstanding - basic 702.3 723.2 705.9 726.4 Weighted average number of shares outstanding - assuming dilution 708.1 733.0 712.6 735.9 (1) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Three Months Ended June 30, Six Months Ended June 30, Net Sales 2020 2019 2020 2019 Aerospace $ 2,543 $ 3,508 $ 5,904 $ 6,849 Honeywell Building Technologies 1,177 1,450 2,458 2,839 Performance Materials and Technologies 2,218 2,735 4,615 5,307 Safety and Productivity Solutions 1,539 1,550 2,963 3,132 Total $ 7,477 $ 9,243 $ 15,940 $ 18,127 Reconciliation of Segment Profit to Income Before Taxes Three Months Ended June 30, Six Months Ended June 30, Segment Profit 2020 2019 2020 2019 Aerospace $ 528 $ 907 $ 1,465 $ 1,745 Honeywell Building Technologies 250 300 512 571 Performance Materials and Technologies 419 644 931 1,208 Safety and Productivity Solutions 213 191 391 403 Corporate (25) (72) (66) (148) Total segment profit 1,385 1,970 3,233 3,779 Interest and other financial charges (90) (85) (163) (170) Stock compensation expense (1) (34) (34) (78) (75) Pension ongoing income (2) 198 148 396 299 Other postretirement income (2) 14 11 27 23 Repositioning and other charges (3,4) (280) (126) (342) (210) Other (5) 26 98 81 178 Income before taxes $ 1,219 $ 1,982 $ 3,154 $ 3,824 (1) Amounts included in Selling, general and administrative expenses. (2) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (3) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (4) Includes repositioning, asbestos, and environmental expenses. (5) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income (loss) of affiliated companies is included in segment profit. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) June 30, 2020 December 31,2019 ASSETS Current assets: Cash and cash equivalents $ 13,778 $ 9,067 Short-term investments 1,349 1,349 Accounts receivable - net 6,717 7,493 Inventories 4,753 4,421 Other current assets 1,724 1,973 Total current assets 28,321 24,303 Investments and long-term receivables 626 588 Property, plant and equipment - net 5,327 5,325 Goodwill 15,518 15,563 Other intangible assets - net 3,551 3,734 Insurance recoveries for asbestos related liabilities 379 392 Deferred income taxes 106 86 Other assets 9,776 8,688 Total assets $ 63,604 $ 58,679 LIABILITIES Current liabilities: Accounts payable $ 5,366 $ 5,730 Commercial paper and other short-term borrowings 3,531 3,516 Current maturities of long-term debt 967 1,376 Accrued liabilities 7,477 7,476 Total current liabilities 17,341 18,098 Long-term debt 17,591 11,110 Deferred income taxes 1,461 1,670 Postretirement benefit obligations other than pensions 317 326 Asbestos related liabilities 1,894 1,996 Other liabilities 6,627 6,766 Redeemable noncontrolling interest 7 7 Shareowners' equity 18,366 18,706 Total liabilities, redeemable noncontrolling interest and shareowners' equity $ 63,604 $ 58,679 Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months EndedJune 30, Six Months EndedJune 30, 2020 2019 2020 2019 Cash flows from operating activities: Net income $ 1,099 $ 1,556 $ 2,705 $ 2,992 Less: Net income attributable to the noncontrolling interest 18 15 43 35 Net income attributable to Honeywell 1,081 1,541 2,662 2,957 Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities: Depreciation 161 172 314 335 Amortization 89 123 179 221 Repositioning and other charges 280 126 342 210 Net payments for repositioning and other charges (198) (51) (309) (85) Pension and other postretirement income (211) (159) (423) (322) Pension and other postretirement benefit payments (9) (15) (23) (45) Stock compensation expense 34 34 78 75 Deferred income taxes (219) (36) (277) 44 Other (106) 9 (285) 5 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable 735 (100) 776 98 Inventories (168) (52) (331) (273) Other current assets (60) (22) 106 (239) Accounts payable (310) 21 (364) (8) Accrued liabilities 381 87 (26) (161) Net cash provided by (used for) operating activities 1,480 1,678 2,419 2,812 Cash flows from investing activities: Expenditures for property, plant and equipment (227) (171) (366) (312) Proceeds from disposals of property, plant and equipment 8 7 10 Increase in investments (1,023) (1,048) (1,671) (2,274) Decrease in investments 746 1,367 1,589 2,163 Receipts (payments) from settlements of derivative contracts (204) 110 83 70 Net cash provided by (used for) investing activities (708) 266 (358) (343) Cash flows from financing activities: Proceeds from issuance of commercial paper and other short-term borrowings 3,710 3,796 7,165 7,114 Payments of commercial paper and other short-term borrowings (3,721) (3,796) (7,094) (7,115) Proceeds from issuance of common stock 31 233 97 378 Proceeds from issuance of long-term debt 5,974 9 7,101 29 Payments of long-term debt (93) (71) (1,218) (84) Repurchases of common stock (62) (1,900) (1,985) (2,650) Cash dividends paid (650) (597) (1,285) (1,203) Other (2) (2) (40) (32) Net cash provided by (used for) financing activities 5,187 (2,328) 2,741 (3,563) Effect of foreign exchange rate changes on cash and cash equivalents 98 (16) (91) 32 Net increase (decrease) in cash and cash equivalents 6,057 (400) 4,711 (1,062) Cash and cash equivalents at beginning of period 7,721 8,625 9,067 9,287 Cash and cash equivalents at end of period $ 13,778 $ 8,225 $ 13,778 $ 8,225 Honeywell International Inc. Reconciliation of Organic Sales % Change (Unaudited) Three Months EndedJune 30, 2020 Honeywell Reported sales % change (19)% Less: Foreign currency translation (1)% Less: Acquisitions, divestitures and other, net % Organic sales % change (18)% Aerospace Reported sales % change (28)% Less: Foreign currency translation % Less: Acquisitions, divestitures and other, net (1)% Organic sales % change (27)% Honeywell Building Technologies Reported sales % change (19)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (17)% Performance Materials and Technologies Reported sales % change (19)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change (17)% Safety and Productivity Solutions Reported sales % change (1)% Less: Foreign currency translation (2)% Less: Acquisitions, divestitures and other, net % Organic sales % change 1% We define organic sales percent as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Segment Profit to Operating Income and Calculation of Segment Profit and Operating Income Margins (Unaudited) (Dollars in millions) Three Months Ended June 30, 2020 2019 Segment profit $ 1,385 $ 1,970 Stock compensation expense (1) (34) (34) Repositioning, Other (2,3) (295) (137) Pension and other postretirement service costs (4) (38) (37) Operating income $ 1,018 $ 1,762 Segment profit $ 1,385 $ 1,970 Net sales $ 7,477 $ 9,243 Segment profit margin % 18.5 % 21.3 % Operating income $ 1,018 $ 1,762 Net sales $ 7,477 $ 9,243 Operating income margin % 13.6 % 19.1 % (1) Included in Selling, general and administrative expenses. (2) Includes repositioning, asbestos, environmental expenses and equity income adjustment. (3) Included in Cost of products and services sold, Selling, general and administrative expenses and Other income/expense. (4) Included in Cost of products and services sold and Selling, general and administrative expenses. We define segment profit as operating income, excluding stock compensation expense, pension and other postretirement service costs, and repositioning and other charges. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended June 30, June 30, 2020 June 30, 2019 Earnings per share of common stock - assuming dilution (1) $ 1.53 $ 2.10 Separation-related tax adjustment (2) (0.27) Adjusted earnings per share of common stock - assuming dilution $ 1.26 $ 2.10 (1) For the three months ended June 30, 2020 and 2019, adjusted earnings per share utilizes weighted average shares of approximately 708.1 million and 733.0 million. (2) For the three months ended June 30, 2020, separation-related tax adjustment of $186 million ($186 million net of tax) includes the favorable resolution of a foreign tax matter related to the spin-off transactions. We believe adjusted earnings per share, excluding spin-off impact, is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change. Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Adjusted Free Cash Flow and Calculation of Adjusted Free Cash Flow Conversion (Unaudited) (Dollars in millions) Three MonthsEnded June 30, 2020 Three MonthsEnded June 30, 2019 Cash provided by operating activities $ 1,480 $ 1,678 Expenditures for property, plant and equipment (227) (171) Free cash flow 1,253 1,507 Separation cost payments 28 Adjusted free cash flow $ 1,253 $ 1,535 Net income attributable to Honeywell 1,081 1,541 Separation-related tax adjustment (186) Adjusted net income attributable to Honeywell $ 895 $ 1,541 Cash provided by operating activities $ 1,480 $ 1,678 Net income (loss) attributable to Honeywell $ 1,081 $ 1,541 Operating cash flow conversion 137 % 109 % Adjusted free cash flow $ 1,253 $ 1,535 Adjusted net income attributable to Honeywell $ 895 $ 1,541 Adjusted free cash flow conversion % 140 % 100 % We define free cash flow as cash provided by operating activities less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Nina Krauss Mark Bendza (704) 627-6035 (704) 627-6200 [emailprotected] [emailprotected] SOURCE Honeywell Related Links http://www.honeywell.com"

Chinese News:
7月24日，霍尼韦尔发布财报称，第二季度公司营收74.8亿美元，同比下降19%；净利润10.8亿美元，去年同期为15.4亿美元。

Japanese News:
米国株式市場は続落して取引を終了した。週末を前に、新型コロナウイルス感染者数の急激な増加、企業決算が軟調だったこと、および地政学的な不透明感が広がったことで、幅広い銘柄に売りが出た。 特に主要指数の重しとなったのはハイテク銘柄で、半導体大手のインテルが、次世代半導体技術（回路線幅7ナノメートル）の開発遅延を発表したことで16.2％の急落を記録した。 LPLファイナンシャルのシニア市場ストラテジストであるライアン・デトリック氏は、「週末を控え市場に不安が広がっている」と述べ、ここ2カ月間のナスダック指数やハイテク株の急激な上昇を考えれば調整局面に入ってもおかしくないと指摘した。 週単位では主要3指数がいずれも下落し、S&P500指数とダウ平均株価は4週ぶりにマイナスに転じたほか、ナスダック総合指数も過去4週間で最大の下げ幅を記録した。 S&P500指数は直近、2月に付けた過去最高値から約5％下回る水準まで戻していたが、年初来で見るとほぼ横ばいで推移している。対照的にナスダック総合指数は、年初来で約15％上昇している。 デトリック氏は、来週には米連邦公開市場委員会（FOMC）の開催や企業決算発表、さらに米国GDP速報値の発表が予定されており、市場に不安感が広がるのも自然な流れだと述べた。 来週30日にはアップル、アルファベット、アマゾンが決算発表を控えるほか、第2四半期のGDP速報値が米商務省より発表される予定だ。アナリストの予測では、第2四半期GDPは35％減少すると見込まれている。 米国内の新型コロナ感染者数は累計で400万人を超え、23日には死者数が3日連続で1000人以上増加した。 また、中国政府が四川省成都市にある米国総領事館の閉鎖を通知したことも市場心理の重しとなった。これは米政府がテキサス州ヒューストンの中国総領事館の閉鎖を命じたことへの報復措置とみられる。 業種別ではS&P500の11セクターのうち、一般消費財を除くすべてが下落。特に情報技術セクターの下落率が最も大きかった。 ヘルスケアセクターは、トランプ政権が薬価引き下げに関する大統領令を準備していることを背景に1.1％の下落を記録した。 決算関連ではS&P500企業のうち128社が第2四半期決算を発表し、約80.5％がアナリストの慎重な事前予想を上回った。 個別銘柄では、クレジットカード大手アメリカン・エキスプレスが世界的なロックダウンによるカード利用低迷で利益が85％減となり、株価は1.4％下落した。一方、通信大手ベライゾンは在宅勤務需要に伴う通信サービスの利用増加で市場予想を上回る業績を発表し、株価が1.8％上昇した。 複合企業ハネウェルは利益が市場予想を上回ったが、先行き不透明感を背景に2.8％下落。インテルの競合企業であるアドバンスト・マイクロ・デバイセズ（AMD）は16.5％高となった。電気自動車メーカーのテスラは6.3％の下落を続けた。 ニューヨーク証券取引所では値下がり銘柄が値上がり銘柄を約1.92倍上回り、ナスダックでも約2.77倍の比率で値下がり銘柄が多かった。米国市場の総合取引高は95億7000万株で、直近20営業日の平均110億4000万株を下回った。

Spanish News:
El grupo industrial estadounidense Honeywell obtuvo un beneficio neto atribuido de 1.081 millones de dólares (933 millones de euros) en el segundo trimestre de 2020, lo que representa una caída del 29,8% en comparación con el resultado contabilizado por la multinacional en el mismo periodo de 2019, informó la compañía. Las ventas de Honeywell entre abril y junio alcanzaron los 7.477 millones de dólares (6.452 millones de euros), un 19,1% menos que un año antes, incluyendo una bajada del 27,5% de los ingresos del negocio aeroespacial, hasta 2.543 millones de dólares (2.194 millones de euros) y del 19% en la división de construcción, hasta 1.177 millones de dólares (1.015 millones de euros). Por su parte, la facturación del negocio de materiales y tecnologías de Honeywell recortó un 19% sus ingresos en el segundo trimestre, hasta 2.218 millones de dólares (1.914 millones de euros), mientras que la unidad de seguridad y productividad facturó un 1% menos, hasta 1.539 millones de dólares (1.328 millones de euros). "El segundo trimestre fue difícil, pero ejecutamos las tres cosas que nos permitirán hacer frente a esta recesión: administrar agresivamente los costes, impulsar el crecimiento de las ventas donde la demanda es fuerte e invertir en nuevas tecnologías", subrayó Darius Adamczyk, presidente y consejero delegado de la empresa. En el primer semestre, Honeywell obtuvo un beneficio neto atribuido de 2.662 millones de dólares (2.297 millones de euros), un 10% por debajo de su resultado de la primera mitad de 2019. De su lado, las ventas de la compañía de Carolina del Norte cayeron un 12%, hasta 15.940 millones de dólares (13.756 millones de euros). Por otro lado, la firma indicó que tras alcanzar un ahorro de costes de 500 millones de dólares (431 millones de euros) en el trimestre, espera ampliar este ajuste en la segunda mitad del año, para alcanzar una cifra agregada de ahorro de entre 1.400 y 1.600 millones de dólares (1.208 y 1.381 millones de euros).

Greek News:
Η εταιρία Honeywell πρόσφατα υπέγραψε σύμβαση με την ουκρανική ενεργειακή εταιρεία DTEK για την αποκατάσταση του πρώτου συστήματος αποθήκευσης ενέργειας με μπαταρίες σε κλίμακα δικτύου στην Ουκρανία. Αυτό το πιλοτικό έργο, περιλαμβάνει μια μπαταρία ιόντων λιθίου η οποία θα τοποθετηθεί στον θερμοηλεκτρικό σταθμό Ζαπορίζια και θα είναι ισχύος 1MW και χωρητικότητας 1,5 MWh. Σκοπός αυτού του συστήματος η υποστήριξη της σταθερότητας του δικτύου με τη παροχή υπηρεσιών συγκράτησης συχνότητας αλλά και ενεργειακό arbitrage, φορτίζοντας σε περιόδους χαμηλής ζήτησης και εκφορτίζοντας κατά τις ώρες αιχμής. Η εταιρία έχει ως στρατηγική την ενίσχυση της παρουσίας της σε λύσεις ενεργειακής μετάβασης, παρά τη συνολική επιβράδυνση στον τομέα Υλικώ Απόδοσης και Τεχνολογιών (PMT) της εταιρίας. Σε αυτή τη στρατηγική εντάσσεται και το παραπάνω έργο. Ο τομέας αυτός, κατέγραψε μείωση εσόδων συγκεκριμένα $2,218 εκατ. το δεύτερο τρίμηνο του 2020, συγκριτικά με $2,735 εκατ. την αντίστοιχη περίοδο του 2019, λόγω κυρίως της μείωσης της παγκόσμιας ζήτησης ενέργειας κατά την πανδημία. Παρότι οι τεχνολογίες της Honeywell υποστηρίζουν κρίσιμες λειτουργίες σε βιομηχανίες πετρελαίου, φυσικού αερίου και ανανεώσιμων καυσίμων, η πτώση των εσόδων αντανακλά τις ευρύτερες πιέσεις στις κεφαλαιουχικές δαπάνες και τις επενδύσεις στον ενεργειακό τομέα. Το πιλοτικό έργο στην Ουκρανία ενδέχεται να λειτουργήσει ως σταθμός για την ενίσχυση των πράσινων τεχνολογιών της εταιρείας σε αναδυόμενες αγορές.

Question:
What trends can be observed in the company’s revenue amount over the past few years? Please quote the piece(s) of news aligned with the finding(s), if any.

Answer:

Question: What trends can be observed in the company’s revenue amount over the past few years? Please quote the piece(s) of news aligned with the finding(s), if any.

Answer: Honeywell’s total revenue in Q2 FY2020 was $7.5B, a 19.1% decrease from $9.2B in Q2 FY2019. The decline was driven by lower product sales (from $7.0B to $5.7B) and reduced service sales (from $2.3B to $1.7B).
News Evidence: Spanish_news: "Las ventas de Honeywell entre abril y junio alcanzaron los 7.477 millones de dólares (6.452 millones de euros), un 19,1% menos que un año antes, incluyendo una bajada del 27,5% de los ingresos del negocio aeroespacial, hasta 2.543 millones de dólares (2.194 millones de euros) y del 19% en la división de construcción, hasta 1.177 millones de dólares (1.015 millones de euros)." Chinese_news: “霍尼韦尔发布财报称，第二季度公司营收74.8亿美元，同比下降19%”

Question: How does the company’s balance sheet reflect its financial health in terms of total amount of current assets and the ratio of total liability divided by total equity? Please provide only the final result(s); do not include any calculation steps. Please quote the piece(s) of news aligned with the finding(s), if any.

Answer: As of Q2 FY2020, Honeywell’s current assets were $28.3B, up from $24.3B at the end of FY2019. The total-liability-to-equity ratio of 2.46, up from 2.14, indicating slightly increased leverage.
News Evidence: None.

Question: Are there any significant changes or irregularities in the amount of operating, investing and financing cash flow? Please quote the piece(s) of news aligned with the finding(s), if any.

Answer: In the first half of FY2020, Honeywell generated $2.4B in operating cash flow, down from $2.8B in the same period of FY2019. Investing cash outflow was $358M, slightly up from $343M. Financing cash flow shifted from a $3.6B outflow to a $2.7B inflow.
News Evidence: Spanish_news: “Por otro lado, la firma indicó que tras alcanzar un ahorro de costes de 500 millones de dólares (431 millones de euros) en el trimestre, espera ampliar este ajuste en la segunda mitad del año, para alcanzar una cifra agregada de ahorro de entre 1.400 y 1.600 millones de dólares (1.208 y 1.381 millones de euros).” English_news: “We ended the quarter with $15.1 billion of cash and short-term investments on hand.”

Question: What is the company's R&D ratio (R&D divided by revenue)? Please provide only the final result(s); do not include any calculation steps. Please quote the piece(s) of news aligned with the finding(s), if any.

Answer: None.
News Evidence: None.