HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 3: 
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PART I. FINANCIAL INFORMATION

The financial statements and related notes as of March 31, 2024, should be read in conjunction with the financial statements for the year ended December 31, 2023, contained in the Company's 2023 Annual Report on Form 10-K.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA


HONEYWELL INTERNATIONAL INC.


CONSOLIDATED STATEMENT OF OPERATIONS

(Unaudited)
|    |                                                          |                              |      |                                                 |       |       |    |       |
|---:|:---------------------------------------------------------|:-----------------------------|:-----|:------------------------------------------------|:------|:------|:---|:------|
|  1 |                                                          | Three Months Ended March 31, |      |                                                 |       |       |    |       |
|  2 |                                                          |                              | 2024 |                                                 | 2023  |       |    |       |
|  3 |                                                          |                              |      | (Dollars in millions, except per share amounts) |       |       |    |       |
|  4 | Product sales                                            |                              |      | $                                               | 6,263 |       | $  | 6,310 |
|  5 | Service sales                                            |                              |      | 2,842                                           |       | 2,554 |    |       |
|  6 | Net sales                                                |                              |      | 9,105                                           |       | 8,864 |    |       |
|  7 | Costs, expenses and other                                |                              |      |                                                 |       |       |    |       |
|  8 | Cost of products sold                                    |                              |      | 4,035                                           |       | 4,068 |    |       |
|  9 | Cost of services sold                                    |                              |      | 1,548                                           |       | 1,430 |    |       |
| 10 | Total Cost of products and services sold                 |                              |      | 5,583                                           |       | 5,498 |    |       |
| 11 | Research and development expenses                        |                              |      | 360                                             |       | 357   |    |       |
| 12 | Selling, general and administrative expenses             |                              |      | 1,302                                           |       | 1,317 |    |       |
| 13 | Other (income) expense                                   |                              |      | (231)                                           |       | (260) |    |       |
| 14 | Interest and other financial charges                     |                              |      | 220                                             |       | 170   |    |       |
| 15 | Total costs, expenses and other                          |                              |      | 7,234                                           |       | 7,082 |    |       |
| 16 | Income before taxes                                      |                              |      | 1,871                                           |       | 1,782 |    |       |
| 17 | Tax expense                                              |                              |      | 396                                             |       | 374   |    |       |
| 18 | Net income                                               |                              |      | 1,475                                           |       | 1,408 |    |       |
| 19 | Less: Net income attributable to noncontrolling interest |                              |      | 12                                              |       | 14    |    |       |
| 20 | Net income attributable to Honeywell                     |                              |      | $                                               | 1,463 |       | $  | 1,394 |
| 21 | Earnings per share of common stock-basic                 |                              |      | $                                               | 2.24  |       | $  | 2.09  |
| 22 | Earnings per share of common stock-assuming dilution     |                              |      | $                                               | 2.23  |       | $  | 2.07  |

The Notes to Consolidated Financial Statements are an integral part of this statement.


3    Honeywell International Inc.





, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 5: 
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HONEYWELL INTERNATIONAL INC.


CONSOLIDATED BALANCE SHEET

(Unaudited)
|    |                                                                               |                       |        |                   |          |    |        |
|---:|:------------------------------------------------------------------------------|:----------------------|:-------|:------------------|:---------|:---|:-------|
|  1 |                                                                               | March 31, 2024        |        | December 31, 2023 |          |    |        |
|  2 |                                                                               | (Dollars in millions) |        |                   |          |    |        |
|  3 | ASSETS                                                                        |                       |        |                   |          |    |        |
|  4 | Current assets                                                                |                       |        |                   |          |    |        |
|  5 | Cash and cash equivalents                                                     | $                     | 11,756 |                   |          | $  | 7,925  |
|  6 | Short-term investments                                                        | 249                   |        |                   | 170      |    |        |
|  7 | Accounts receivable, less allowances of $324 and $323, respectively           | 7,476                 |        |                   | 7,530    |    |        |
|  8 | Inventories                                                                   | 6,318                 |        |                   | 6,178    |    |        |
|  9 | Other current assets                                                          | 1,635                 |        |                   | 1,699    |    |        |
| 10 | Total current assets                                                          | 27,434                |        |                   | 23,502   |    |        |
| 11 | Investments and long-term receivables                                         | 975                   |        |                   | 939      |    |        |
| 12 | Property, plant and equipment-net                                             | 5,698                 |        |                   | 5,660    |    |        |
| 13 | Goodwill                                                                      | 17,985                |        |                   | 18,049   |    |        |
| 14 | Other intangible assets-net                                                   | 3,136                 |        |                   | 3,231    |    |        |
| 15 | Insurance recoveries for asbestos-related liabilities                         | 164                   |        |                   | 170      |    |        |
| 16 | Deferred income taxes                                                         | 374                   |        |                   | 392      |    |        |
| 17 | Other assets                                                                  | 9,879                 |        |                   | 9,582    |    |        |
| 18 | Total assets                                                                  | $                     | 65,645 |                   |          | $  | 61,525 |
| 19 | LIABILITIES                                                                   |                       |        |                   |          |    |        |
| 20 | Current liabilities                                                           |                       |        |                   |          |    |        |
| 21 | Accounts payable                                                              | $                     | 6,468  |                   |          | $  | 6,849  |
| 22 | Commercial paper and other short-term borrowings                              | 1,819                 |        |                   | 2,085    |    |        |
| 23 | Current maturities of long-term debt                                          | 1,254                 |        |                   | 1,796    |    |        |
| 24 | Accrued liabilities                                                           | 6,947                 |        |                   | 7,809    |    |        |
| 25 | Total current liabilities                                                     | 16,488                |        |                   | 18,539   |    |        |
| 26 | Long-term debt                                                                | 22,183                |        |                   | 16,562   |    |        |
| 27 | Deferred income taxes                                                         | 2,063                 |        |                   | 2,094    |    |        |
| 28 | Postretirement benefit obligations other than pensions                        | 129                   |        |                   | 134      |    |        |
| 29 | Asbestos-related liabilities                                                  | 1,467                 |        |                   | 1,490    |    |        |
| 30 | Other liabilities                                                             | 6,263                 |        |                   | 6,265    |    |        |
| 31 | Redeemable noncontrolling interest                                            | 7                     |        |                   | 7        |    |        |
| 32 | SHAREOWNERS' EQUITY                                                           |                       |        |                   |          |    |        |
| 33 | Capital-common stock issued                                                   | 958                   |        |                   | 958      |    |        |
| 34 | -additional paid-in capital                                                   | 9,353                 |        |                   | 9,062    |    |        |
| 35 | Common stock held in treasury, at cost                                        | (38,544)              |        |                   | (38,008) |    |        |
| 36 | Accumulated other comprehensive income (loss)                                 | (4,048)               |        |                   | (4,135)  |    |        |
| 37 | Retained earnings                                                             | 48,735                |        |                   | 47,979   |    |        |
| 38 | Total Honeywell shareowners' equity                                           | 16,454                |        |                   | 15,856   |    |        |
| 39 | Noncontrolling interest                                                       | 591                   |        |                   | 578      |    |        |
| 40 | Total shareowners' equity                                                     | 17,045                |        |                   | 16,434   |    |        |
| 41 | Total liabilities, redeemable noncontrolling interest and shareowners' equity | $                     | 65,645 |                   |          | $  | 61,525 |

The Notes to Consolidated Financial Statements are an integral part of this statement.


5    Honeywell International Inc.





, HONEYWELL INTERNATIONAL INC 10-Q form for quarterly period ended 2024-03-31, page 6: 
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HONEYWELL INTERNATIONAL INC.


CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited)
|    |                                                                                                                       |                              |        |      |         |    |       |
|---:|:----------------------------------------------------------------------------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:------|
|  1 |                                                                                                                       | Three Months Ended March 31, |        |      |         |    |       |
|  2 |                                                                                                                       | 2024                         |        | 2023 |         |    |       |
|  3 |                                                                                                                       | (Dollars in millions)        |        |      |         |    |       |
|  4 | Cash flows from operating activities                                                                                  |                              |        |      |         |    |       |
|  5 | Net income                                                                                                            | $                            | 1,475  |      |         | $  | 1,408 |
|  6 | Less: Net income attributable to noncontrolling interest                                                              | 12                           |        |      | 14      |    |       |
|  7 | Net income attributable to Honeywell                                                                                  | 1,463                        |        |      | 1,394   |    |       |
|  8 | Adjustments to reconcile net income attributable to Honeywell to net cash provided by (used for) operating activities |                              |        |      |         |    |       |
|  9 | Depreciation                                                                                                          | 166                          |        |      | 161     |    |       |
| 10 | Amortization                                                                                                          | 125                          |        |      | 122     |    |       |
| 12 | Repositioning and other charges                                                                                       | 93                           |        |      | 141     |    |       |
| 13 | Net payments for repositioning and other charges                                                                      | (124)                        |        |      | (41)    |    |       |
| 14 | NARCO Buyout payment                                                                                                  | -                            |        |      | (1,325) |    |       |
| 15 | Pension and other postretirement income                                                                               | (151)                        |        |      | (136)   |    |       |
| 16 | Pension and other postretirement benefit payments                                                                     | (8)                          |        |      | (15)    |    |       |
| 17 | Stock compensation expense                                                                                            | 53                           |        |      | 59      |    |       |
| 18 | Deferred income taxes                                                                                                 | 3                            |        |      | 225     |    |       |
| 20 | Other                                                                                                                 | (163)                        |        |      | (350)   |    |       |
| 21 | Changes in assets and liabilities, net of the effects of acquisitions and divestitures                                |                              |        |      |         |    |       |
| 22 | Accounts receivable                                                                                                   | 53                           |        |      | (422)   |    |       |
| 23 | Inventories                                                                                                           | (140)                        |        |      | (238)   |    |       |
| 24 | Other current assets                                                                                                  | 64                           |        |      | 110     |    |       |
| 25 | Accounts payable                                                                                                      | (381)                        |        |      | 114     |    |       |
| 26 | Accrued liabilities                                                                                                   | (605)                        |        |      | (583)   |    |       |
| 27 | Net cash provided by (used for) operating activities                                                                  | 448                          |        |      | (784)   |    |       |
| 28 | Cash flows from investing activities                                                                                  |                              |        |      |         |    |       |
| 29 | Capital expenditures                                                                                                  | (233)                        |        |      | (193)   |    |       |
| 30 | Proceeds from disposals of property, plant and equipment                                                              | -                            |        |      | 11      |    |       |
| 31 | Increase in investments                                                                                               | (238)                        |        |      | (226)   |    |       |
| 32 | Decrease in investments                                                                                               | 155                          |        |      | 386     |    |       |
| 34 | Receipts (payments) from settlements of derivative contracts                                                          | 43                           |        |      | (7)     |    |       |
| 37 | Net cash used for investing activities                                                                                | (273)                        |        |      | (29)    |    |       |
| 38 | Cash flows from financing activities                                                                                  |                              |        |      |         |    |       |
| 39 | Proceeds from issuance of commercial paper and other short-term borrowings                                            | 2,223                        |        |      | 4,105   |    |       |
| 40 | Payments of commercial paper and other short-term borrowings                                                          | (2,470)                      |        |      | (3,294) |    |       |
| 41 | Proceeds from issuance of common stock                                                                                | 144                          |        |      | 37      |    |       |
| 42 | Proceeds from issuance of long-term debt                                                                              | 5,710                        |        |      | -       |    |       |
| 43 | Payments of long-term debt                                                                                            | (573)                        |        |      | (1,363) |    |       |
| 44 | Repurchases of common stock                                                                                           | (671)                        |        |      | (699)   |    |       |
| 45 | Cash dividends paid                                                                                                   | (703)                        |        |      | (725)   |    |       |
| 46 | Other                                                                                                                 | 36                           |        |      | (34)    |    |       |
| 47 | Net cash provided by (used for) financing activities                                                                  | 3,696                        |        |      | (1,973) |    |       |
| 48 | Effect of foreign exchange rate changes on cash and cash equivalents                                                  | (40)                         |        |      | 28      |    |       |
| 49 | Net increase (decrease) in cash and cash equivalents                                                                  | 3,831                        |        |      | (2,758) |    |       |
| 50 | Cash and cash equivalents at beginning of period                                                                      | 7,925                        |        |      | 9,627   |    |       |
| 51 | Cash and cash equivalents at end of period                                                                            | $                            | 11,756 |      |         | $  | 6,869 |

The Notes to Consolidated Financial Statements are an integral part of this statement.


6    Honeywell International Inc.







Question: What is Honeywell International Inc.’s Debt Service Coverage Ratio (DSCR) for Q1 2024?
Answer: The Debt Service Coverage Ratio (DSCR) for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:
DSCR = Net Operating Income / Debt Service
Net Operating Income = Net Income + Interest and other financial charges + Depreciation + Amortization
Net Income = $1,463 million
Interest and other financial charges = $220 million
Depreciation = $166 million
Amortization = $125 million
Net Operating Income = $1,463 million + $220 million + $166 million + $125 million = $1,974 million
Debt Service = Current Maturities of Long-term Debt + Interest Expenses
Current Maturities of Long-term Debt = $1,254 million
Interest Expenses = $220 million
Debt Service = $1,254 million + $220 million = $1,474 million
DSCR = 1,974 / 1,474 = 1.34