SEC Filing | Honeywell International Inc.

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________________________________________________________________________________ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------------ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT -- DECEMBER 17, 1999 (DATE OF EARLIEST EVENT REPORTED) ------------------------ HONEYWELL INTERNATIONAL INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) ------------------------ DELAWARE (STATE OR OTHER JURISDICTION 22-2640650 OF 1-8974 (I.R.S. EMPLOYER INCORPORATION) (COMMISSION FILE NUMBER) IDENTIFICATION NUMBER) 101 COLUMBIA ROAD, P.O. BOX 4000 MORRISTOWN, NEW JERSEY 07962-2497 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (973) 455-2000 ________________________________________________________________________________

ITEM 5. OTHER EVENTS. Honeywell International Inc. has determined that in the future it will be reporting its results of operations in the following four reportable segments: Aerospace Solutions Automation & Asset Management Performance Materials Power & Transportation Products The following table contains income statement and segment data for Honeywell International Inc. reflecting the combination of AlliedSignal Inc. and Honeywell Inc. for all periods presented.

INCOME STATEMENT DATA FOR HONEYWELL INTERNATIONAL INC. (AMOUNTS IN MILLIONS, EXCEPT PER SHARE AMOUNTS) (UNAUDITED) 1999 1998 1997 --------------------------- ----------------------------------------------- ------- FIRST SECOND THIRD FIRST SECOND THIRD FOURTH FULL FIRST QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER YEAR QUARTER ------- ------- ------- ------- ------- ------- ------- ---- ------- Sales Aerospace Solutions............ $2,328 $2,534 $2,527 $2,261 $2,467 $2,515 $2,647 $ 9,890 $1,810 Automation & Asset Management................... 1,390 1,501 1,559 1,360 1,425 1,487 1,685 5,957 1,253 Performance Materials.......... 983 986 1,027 1,125 1,120 977 947 4,169 1,000 Power & Transportation Products..................... 859 904 895 782 857 845 903 3,387 912 Corporate...................... 22 33 28 41 35 37 39 152 38 ------ ------ ------ ------ ------ ------ ------ ------- ------ Total Sales................ $5,582 $5,958 $6,036 $5,569 $5,904 $5,861 $6,221 $23,555 $5,013 ------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------ ------ ------ ------- ------ Operating profit Aerospace Solutions............ $ 395 $ 475 $ 531 $ 323 $ 351 $ 430 $ 483 $ 1,587 $ 222 Automation & Asset Management................... 120 161 202 117 154 179 255 705 103 Performance Materials.......... 149 145 88 172 204 141 117 634 129 Power & Transportation Products..................... 70 83 78 46 67 54 67 234 79 ------ ------ ------ ------ ------ ------ ------ ------- ------ Total businesses........... 734 864 899 658 776 804 922 3,160 533 ------ ------ ------ ------ ------ ------ ------ ------- ------ Corporate & unallocated........... (43) (54) (33) (51) (54) (54) (89) (248) (43) Equity in income of affiliated companies........................ 10 24 20 34 35 18 75 162 42 Interest and other financial charges.......................... (73) (59) (60) (60) (62) (66) (87) (275) (63) Other income (expense)............ 18 11 (2) 1 4 (5) 3 3 36 Other*............................ -- 10 (1) -- -- -- (30) (30) -- ------ ------ ------ ------ ------ ------ ------ ------- ------ Income before taxes on income..... 646 796 823 582 699 697 794 2,772 505 Taxes on income................... (206) (256) (269) (186) (223) (223) (237) (869) (170) ------ ------ ------ ------ ------ ------ ------ ------- ------ Net income -- reported............ $ 440 $ 540 $ 554 $ 396 $ 476 $ 474 $ 557 $ 1,903 $ 335 ------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------ ------ ------ ------- ------ Shares outstanding (assuming dilution)........................ 807 807 809 818 817 811 811 814 825 ------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------ ------ ------ ------- ------ Earnings per share -- reported (assuming dilution).............. $ 0.55 $ 0.67 $ 0.68 $ 0.48 $ 0.58 $ 0.58 $ 0.69 $ 2.34 $ 0.41 ------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------ ------ ------ ------- ------ Other -- after tax*............... $ -- $ 5 $ (6) $ -- $ -- $ -- $ (20) $ (20) $ -- Net income -- adjusted............ $ 440 $ 535 $ 560 $ 396 $ 476 $ 474 $ 577 $ 1,923 $ 335 ------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------ ------ ------ ------- ------ Earnings per share -- adjusted (assuming dilution).............. $ 0.55 $ 0.66 $ 0.69 $ 0.48 $ 0.58 $ 0.58 $ 0.71 $ 2.36 $ 0.41 ------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------ ------ ------ ------- ------ Tax rate -- reported.............. 31.9% 32.2% 32.7% 32.0% 31.9% 32.0% 29.8% 31.3% 33.7% Operating margin Aerospace Solutions............ 17.0% 18.7% 21.0% 14.3% 14.2% 17.1% 18.2% 16.0% 12.3% Automation & Asset Management................... 8.6% 10.7% 13.0% 8.6% 10.8% 12.0% 15.1% 11.8% 8.2% Performance Materials.......... 15.2% 14.7% 8.6% 15.3% 18.2% 14.4% 12.4% 15.2% 12.9% Power & Transportation Products..................... 8.1% 9.2% 8.7% 5.9% 7.8% 6.4% 7.4% 6.9% 8.7% Total businesses............... 13.1% 14.5% 14.9% 11.8% 13.1% 13.7% 14.8% 13.4% 10.6% Total Honeywell................ 12.4% 13.6% 14.3% 10.9% 12.2% 12.8% 13.4% 12.4% 9.8% 1997 ------------------------------------- SECOND THIRD FOURTH FULL QUARTER QUARTER QUARTER YEAR ------- ------- ------- ---- Sales Aerospace Solutions............ $2,013 $2,177 $2,398 $ 8,398 Automation & Asset Management................... 1,453 1,500 1,728 5,934 Performance Materials.......... 1,088 1,045 1,115 4,248 Power & Transportation Products..................... 962 936 959 3,769 Corporate...................... 39 37 36 150 ------ ------ ------ ------- Total Sales................ $5,555 $5,695 $6,236 $22,499 ------ ------ ------ ------- ------ ------ ------ ------- Operating profit Aerospace Solutions............ $ 261 $ 308 $ 360 $ 1,151 Automation & Asset Management................... 122 149 236 610 Performance Materials.......... 164 137 111 541 Power & Transportation Products..................... 90 71 68 308 ------ ------ ------ ------- Total businesses........... 637 665 775 2,610 ------ ------ ------ ------- Corporate & unallocated........... (41) (37) (46) (167) Equity in income of affiliated companies........................ 63 43 56 204 Interest and other financial charges.......................... (69) (76) (69) (277) Other income (expense)............ 17 16 18 87 Other*............................ -- -- (38) (38) ------ ------ ------ ------- Income before taxes on income..... 607 611 696 2,419 Taxes on income................... (204) (200) (204) (778) ------ ------ ------ ------- Net income -- reported............ $ 403 $ 411 $ 492 $ 1,641 ------ ------ ------ ------- ------ ------ ------ ------- Shares outstanding (assuming dilution)........................ 823 824 817 822 ------ ------ ------ ------- ------ ------ ------ ------- Earnings per share -- reported (assuming dilution).............. $ 0.49 $ 0.50 $ 0.60 $ 2.00 ------ ------ ------ ------- ------ ------ ------ ------- Other -- after tax*............... $ -- $ -- $ (5) $ (5) Net income -- adjusted............ $ 403 $ 411 $ 497 $ 1,646 ------ ------ ------ ------- ------ ------ ------ ------- Earnings per share -- adjusted (assuming dilution).............. $ 0.49 $ 0.50 $ 0.61 $ 2.00 ------ ------ ------ ------- ------ ------ ------ ------- Tax rate -- reported.............. 33.6% 32.7% 29.3% 32.2% Operating margin Aerospace Solutions............ 13.0% 14.1% 15.0% 13.7% Automation & Asset Management................... 8.4% 9.9% 13.7% 10.3% Performance Materials.......... 15.1% 13.1% 10.0% 12.7% Power & Transportation Products..................... 9.4% 7.6% 7.1% 8.2% Total businesses............... 11.5% 11.7% 12.4% 11.6% Total Honeywell................ 10.7% 11.0% 11.7% 10.9% - ------------ * Represents gains on sales of significant business units, our AMP Incorporated investment and a litigation settlement, and repositioning and other charges.

SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HONEYWELL INTERNATIONAL INC. By: /s/ PETER M. KREINDLER ................................. PETER M. KREINDLER SENIOR VICE PRESIDENT AND GENERAL COUNSEL Date: December 17, 1999