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: 
TABLE OF CONTENTS



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.







Question: What is the Asset Turnover Ratio for Honeywell International Inc. over the three months ending March 31, 2024?
Answer: The Asset Turnover Ratio for Honeywell International Inc. for the three months ended March 31, 2024, is calculated as follows:
Asset Turnover Ratio = Net Sales / Average Total Assets
Net Sales = $9,105 million
Average Total Assets = (Total Assets at the beginning of the period + Total Assets at the end of the period) / 2
Average Total Assets = ($61,525 million + $65,645 million) / 2 = $63,585 million
Asset Turnover Ratio = 9,105 / 63,585 = 0.14