Honeywell提交截至2026年9月30日季度的10-Q：前三季度持续经营净利润60.96亿美元

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

__________________

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2026

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to _____

Commission file number 1-8974

Honeywell International Inc.

(Exact name of registrant as specified in its charter)

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes x No ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No x

There were 317,358,518 shares of Common Stock outstanding at September 30, 2026.

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Cautionary Statement About Forward-looking Statements

We describe many of the trends and other factors that drive our business and future results in the section titled Management’s Discussion and Analysis of Financial Condition and Results of Operations and in other parts of this report (including Part II, Item 1A Risk Factors). Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including statements regarding estimates of the addressable market for our offerings, which may prove to be incorrect and could materially differ from actual demand. Forward-looking statements are those that address activities, events, or developments that we or our management intend, expect, project, believe, or anticipate will or may occur in the future. They are based on management’s assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as changes in or application of trade and tax laws and policies, including the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, including ongoing conflicts in the Middle East, which can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this Form 10-Q can or will be achieved. These forward-looking statements should be considered in light of the information included in this report and our other filings with the Securities and Exchange Commission (SEC), including, without limitation, the Risk Factors, as well as the description of trends and other factors in Management’s Discussion and Analysis of Financial Condition and Results of Operations, set forth in this report and our 2025 Annual Report on Form 10-K. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.

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About Honeywell Technologies

In the third quarter of 2026, Honeywell International Inc. (we, us, our, Honeywell Technologies, or the Company) completed the previously-announced separation (the Aerospace Spin-Off) of Honeywell Aerospace Inc. (Honeywell Aerospace) into an independent publicly-traded company. Honeywell Technologies separated Honeywell Aerospace from the Company by distributing all of the issued and outstanding shares of common stock of Honeywell Aerospace to the holders of common stock of Honeywell Technologies.

The separation of Honeywell Aerospace from Honeywell Technologies is intended, among other things, to better position both companies to focus on and pursue opportunities for long-term growth and profitability unique to each company's sector. Following the Aerospace Spin-Off, Honeywell International Inc. now operates as Honeywell Technologies. Honeywell Technologies continues to trade on the Nasdaq exchange under the ticker symbol “HON”.

Prior to the Aerospace Spin-Off, we globally managed our business operations through four reportable business segments: Aerospace Technologies, Building Automation, Process Automation and Technology, and Industrial Automation. Following the Aerospace Spin-Off, the historical financial results of Honeywell Aerospace are reflected in Honeywell Technologies’ consolidated financial statements as discontinued operations. In connection with and following completion of the Aerospace Spin-Off, we now manage our businesses through three reportable business segments: Building Automation, Process Automation and

Technology, and Industrial Automation. See Note 18 Segment Financial Data to Notes to Consolidated Financial Statements for further information.

Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any amendments to those reports, are available free of charge on our Investor Relations website (investor.honeywell.com) under the heading Results & Filings (see SEC Filings) immediately after they are filed with, or furnished to, the SEC. Honeywell Technologies uses our Investor Relations website, along with press releases on our primary Honeywell Technologies website (honeywell.com) under the heading Newsroom, as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website and Honeywell Technologies News feed, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media. Information contained on or accessible through, including any reports available on, our website is not a part of, and is not incorporated by reference into, this Quarterly Report on Form 10-Q or any other report or document we file with the SEC. Any reference to our website in this Form 10-Q is intended to be an inactive textual reference only.

Business Update

Following the completion of the Aerospace Spin-Off and our divestitures, Honeywell Technologies completed its portfolio transformation. We now operate as a global, pure-play automation company, providing mission-critical solutions across the buildings, industrial, and process sectors with a broad portfolio of services, solutions and products underpinned by our Honeywell Technologies Accelerator operating system and Honeywell Technologies Forge intelligence layer. As a trusted partner to our customers, we help organizations solve the world’s toughest, most complex challenges, while providing products, services, and software that enhance the quality of life for people and communities around the world. Building on our decades-long technology leadership positions, deep domain experience, and substantial installed base, Honeywell Technologies connects assets, people, and processes to power the transition from automation to autonomy. Our comprehensive portfolio of leading, mission-critical products and solutions is organized into the following segments: Building Automation, Process Automation and Technology, and Industrial Automation.

Our iconic heritage traces its origins to the late nineteenth century with the development of early temperature control technologies and the formation of the original Honeywell Heating Specialty Company in 1906. Honeywell Technologies introduced the first electronic control system in 1974, marking the beginning of modern distributed control systems, which enabled large complex plants to be controlled by a network of distributed controllers. At around the same time, in the 1970s, the debut of Honeywell Technologies’ Alpha 1000 and Delta systems brought a novel convergence of building management solutions that integrated fire, security, and energy systems into a unified platform. Through organic innovations as well as numerous strategic acquisitions, Honeywell Technologies has taken a software-first approach to increasing customer productivity and operational efficiency with forward-looking technology. Our rich history of innovation and technology leadership has cemented our long-standing reputation for driving significant productivity and enabling better outcomes for customers, ultimately making Honeywell Technologies instrumental to the future of critical industries.

Through our three operating segments, we provide mission-critical solutions in industries where reliability is paramount and sustainable competitive advantages can be established. Honeywell Technologies focuses on critical control points that often represent only a single-digit percentage of a project’s spend but deliver outsized value to our customers, creating aftermarket opportunities that enable us to add substantial value over the life of their assets. Our decades of deep domain expertise combined

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with our cutting-edge technologies enable us to offer value-based solutions that span a complementary set of business models, including products, projects, services, and software.

Our strategy is firmly rooted in the application of core competencies and our mature Accelerator operating system to meet industry demands for high return on investment (ROI) outcomes that build on integrated, enterprise-level solutions for customers. Honeywell Technologies has a substantial installed base of differentiated and critical equipment across Building Automation, Process Automation and Technology, and Industrial Automation.

We collaborate closely with top-tier partners that strengthen our go-to-market strategies by expanding our reach within existing verticals and enabling us to serve new customer segments in industries undergoing meaningful transformation, such as data centers, liquefied natural gas (LNG), semiconductors, and life sciences. These relationships provide us with valuable insights and broad end-customer access, which in turn solidifies our reputation as a leader across our sectors.

Enablers And Growth Strategies

Apply proprietary enablers to deliver high-value solutions

The key enablers of our business model are our proprietary Honeywell Technologies Accelerator operating system and our Honeywell Technologies Forge intelligence layer. Accelerator is our comprehensive management and operational framework that leverages decades of development to drive growth and competitive advantages through increased efficiency, manufacturing productivity, value-based pricing, customer problem solving, and innovation. This system is designed to enhance enterprise collaboration and accelerate decision-making, while optimizing our workforce. Our Accelerator operating system has matured over decades, using Lean, Six Sigma, and digital tools to provide real-time visibility into supply chain, production, and operational performance.

Our Honeywell Technologies Forge intelligence layer is a hardware-agnostic and open-architecture platform, which allows us to combine deep domain expertise and vast quantities of data in order to provide critical insights and outcomes for customers. This platform helps improve client processes, enhance productivity, support sustainability initiatives, and empower workers across all our business segments. By integrating Honeywell Technologies Forge into our portfolio and combining it with our leading-edge artificial intelligence (AI) capabilities, we enable customers to unlock greater value from their assets and operations and deliver enterprise-level outcomes.

To accelerate growth, we monetize our installed base with software, services and aftermarket offerings to generate incremental revenue streams that achieve consistent and reliable growth and recurring revenue streams. While there has been a significant push to digitize the industrial space, we believe significant opportunities remain for Honeywell Technologies to transform how organizations leverage technologies to automate complex operations, improve performance, and proactively respond to challenges faced by our customers.

Drive innovation through focus on research and development (R&D) and new product introductions

Our R&D investments are pivotal in driving strong organic growth from new product introductions that not only sustain our core business but also generate incremental revenue streams. Our commitment to drive a continuous cycle of product innovation leads to value-added product refreshments built on deep, trusted relationships. Our high level of customer focus provides us with prospects for co-innovation that benefit not only our existing customer base but also new customers by solving their most pressing challenges.

We focus our R&D investments on establishing a refreshed pipeline of solutions that create significant incremental outcomes to extend asset life, improve operational efficiency, and enhance customer decision-making across our segments. Across our portfolio, we continue to improve our strategic focus by developing new solutions that aim to transform customer operations through product upgrades, data analytics, and AI-based offerings. Our holistic, disciplined approach focuses on every element from accelerating ideation through to the commercialization phase. Over the last several years, we transformed our innovation process, working to ensure increased growth and ROI across our portfolio through strategic portfolio planning and building a culture of customer centricity.

As we consider opportunities to invest in technology, we target investments that we can use across our entire portfolio, further strengthening our single platform cross-selling model. Across our businesses, we developed and commercialized multiple vendor-agnostic innovations that increase customer productivity and operational efficiency, ensuring that we deliver quality solutions faster and at a reduced cost. As we continue to execute our own digital transformation, we are committed to embedding innovation into every aspect of our operations. Our mission is as much about setting new industry standards and anticipating future needs as it is about delivering today’s solutions.

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Pursue disciplined acquisition and portfolio-optimization strategy

We complement our organic growth strategy with a disciplined mergers and acquisitions (M&A) strategy, regularly identifying and evaluating a robust pipeline of acquisition opportunities across all businesses as part of our efforts to broaden our portfolio, access differentiated technologies and innovations and expand our exposure to high-growth verticals and regions. Our recent acquisitions focused on high-growth verticals and strategically expanded our existing portfolio, enabling us to create end-to-end, integrated offerings in attractive segments. Specifically, we believe that the acquisitions of Carrier Access Solutions, Air Products' LNG business, Compressor Controls Corporation (CCC), Sundyne, and Johnson Matthey’s Catalyst Technologies business will notably increase annualized revenue across our Building Automation and Process Automation and Technology portfolios. We apply a rigorous evaluation process designed to align each opportunity with our strategic objectives, financial criteria, and operational requirements, with the goal of ultimately supporting value creation.

Expand in targeted high-growth verticals

Our business model is designed to sustain growth that is less dependent on business cycles. We refer to this as “decoupled” growth: revenue that is not tied to the capital equipment lifecycle, unlike most traditional aftermarket sales. Decoupled growth creates new industry segments, such as connected buildings, and new offerings, such as cybersecurity, which expand the total addressable market and provide platforms for integrated solutions that combine multiple offerings in our broad portfolio.

In addition to growing in our core end-markets, we are concentrating on additional expansion in four “high-growth vertical” areas: data centers, semiconductors, life sciences, and LNG, where we bring our portfolio together around customer outcomes that matter most. In each vertical, we aim to build scale through vertical-specific offerings, a tailored commercial approach, and targeted acquisitions and partnerships. By way of example, in data centers, we help operators maximize uptime and energy efficiency by integrating building management, power and cooling controls, fire safety, and security. In our semiconductor vertical we help fabrication facilities protect yield and operate safely through environmental controls, gas detection, and process automation. And in LNG, we help producers improve throughput, reliability, and safety across liquefaction and export operations through process control, safety systems, and operations software.

For example, for pharmaceutical and biotechnology manufacturers, one of our core focuses is on improving manufacturing quality: small deviations in temperature, humidity, pressure, or contamination control can compromise a batch and create regulatory exposure. We address this by integrating our process automation software and controls, building management systems, and fire and security solutions into a seamless solution for our customers. Building controls hold the precise environmental conditions production requires; process automation provides real-time visibility into production data across the manufacturing lifecycle; and fire and security systems protect people, facilities, and product while supporting compliance with stringent regulations. Together, these capabilities help customers improve product quality, simplify regulatory compliance, and lower operating costs. Because our capabilities apply across verticals, lessons from one domain carry into others, which we believe deepens our relationships with existing customers.

Capitalize on our extensive global footprint as an automation leader

As a pure-play automation company, we have global scale with over half of our total annual sales from outside of the United States, and approximately one-third of total annual sales from high-growth regions. As reshoring investments remain strong, we believe this global mix positions us well to meet the local needs of customers for longevity of human life, energy demand / security, and increased energy consumption. Our global scale and reach are bolstered by the strength of our trusted brand and the depth of our channel partnerships. Our local-for-local strategy applies across all our regions and our global engineering services model, which enables us to both maintain customer focus and deliver on precise requirements and specifications that differ from country to country with speed and agility.

Honeywell Technologies is a global, pure-play automation business that brings together proprietary operating disciplines, deep domain expertise, and AI-enabled Forge solutions to boost customer productivity, drive growth across our installed base and high-growth markets and help address the world's most mission-critical challenges. Underpinned by our Accelerator operating system,

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our growth strategies work together to translate our installed base and domain expertise into actionable paths to develop and grow consistent, recurring revenue in new and existing segments.

Major Businesses

We manage our businesses through three reportable business segments: Building Automation, Process Automation and

Technology, and Industrial Automation. See Note 18 Segment Financial Data to Notes to Consolidated Financial Statements for further information.

Building Automation

Building Automation is a leading global provider of unified building automation solutions across products, hardware, software, and analytics, which help our customers convert buildings into safe, sustainable, and integrated assets. Building Automation offerings include fire detection, building controls and optimization software, energy management systems, access control, and video management software, complemented by installation, maintenance, and upgrades. Our equipment-agnostic approach creates a large aftermarket opportunity. The reportable business segment is comprised of the Products and Solutions business models. The Products business is a leading provider of multi-domain controls and software offerings, primarily through an industry-leading, highly capable, channel partner network. The Solutions business is a leading provider of integrated systems and differentiated automation technologies.

Within Building Automation, our Honeywell Technologies Forge solutions enable channel partners and end-users to digitally manage buildings, through asset onboarding, self-service capabilities, and applications. Digitalization, coupled with cloud transformation, creates the capability to connect assets, visualize data that provides actionable insights through intuitive dashboards, manage systems remotely, and leverage AI to facilitate installation, commissioning, and life-time service.

Process Automation and Technology

Process Automation and Technology offers a comprehensive portfolio of end-to-end solutions that drive automation throughout the industrial lifecycle, develop and innovate advanced process technology solutions, and help accelerate customers' digital transformations. The business segment delivers to multiple sectors, including energy, mining and minerals, industrials, power generation, and life sciences. The reportable business segment is comprised of the Projects and Aftermarket business models. The Projects business offers automation solutions for new and existing industrial plants, solutions for critical turbomachinery control applications, licensing, engineering of new and existing energy facilities, and energy solutions including separation and purification, gas, renewable fuels, blue H2 / blue NH3, green H2, carbon capture, plastics circularity, and energy storage. The Aftermarket business offers solutions that improve safety, reliability, sustainability, and operations excellence and delivers licensed process technology, equipment, engineering catalyst, adsorbents, and services to enable the energy transition.

Operating our Process Automation and Technology business as a single segment enables us to unlock significant customer efficiency benefits, since we believe we are singularly positioned to deliver end-to-end solutions combining our molecule expertise with our controls and software. For example, through the acquisition of Air Products' LNG business in 2024, we now provide

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customers with a full-service set of solutions consisting of natural gas pre-treatment, liquefaction, and enterprise-level digital automation technologies unified under the Honeywell Technologies Forge and Experion platforms.

Industrial Automation

Industrial Automation is a global at-scale provider of sensing and measurement solutions serving mission-critical applications across diversified verticals, including energy, power and utilities, aerospace and defense, medical devices, and semiconductors. Across these verticals, customers desire similar outcomes, such as operational efficiency, asset effectiveness, people performance, and safety. The reportable business segment is comprised of the Products and Solutions business models. The Products business offerings include fiscal custody transfer solutions, fixed and portable gas detection, safety solutions for semiconductor manufacturing, terminal operations, sensors, switches and controls, burner management systems, and fuel and air delivery. Industrial Automation offers a comprehensive suite of solutions through aftermarket services, as well as through expanding its high-value digital services and connected solutions, anchored in Honeywell Technologies Forge.

Our extensive installed base of sensing and measurement offerings, combined with vertical domain expertise and deep integration with Honeywell Technologies' Forge platform, delivers distinctive, value-accretive outcomes that address evolving customer needs. The combination of data, cloud and smarter edge solutions allows Industrial Automation to deliver enterprise level outcomes rather than just point solutions at each asset or site.

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Part I. Financial Information

The financial statements and related notes as of September 30, 2026, should be read in conjunction with the financial statements for the year ended December 31, 2025, contained in the Company’s 2025 Annual Report on Form 10-K.

Financial Statements and Supplementary Data

Honeywell International Inc.

Consolidated Statement of Operations

(Unaudited)

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

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Honeywell International Inc.

Consolidated Statement of Comprehensive Income

(Unaudited)

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

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Honeywell International Inc.

Consolidated Balance Sheet

(Unaudited)

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

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Honeywell International Inc.

Consolidated Statement of Cash Flows

(Unaudited)

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

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

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Honeywell International Inc.

Consolidated Statement of Shareowners’ Equity

(Unaudited)

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

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Honeywell International Inc.

Notes to Consolidated Financial Statements

(Unaudited)

(Dollars in tables in millions, except per share amounts)

Note 1. Basis of Presentation

In the opinion of management, the accompanying unaudited Consolidated Financial Statements reflect all adjustments necessary to present fairly the financial position, results of operations, cash flows, and shareowners’ equity of Honeywell International Inc. and its consolidated subsidiaries (Honeywell Technologies or the Company) for the periods presented. The interim results of operations and cash flows should not necessarily be taken as indicative of the entire year.

Honeywell Technologies reports its quarterly financial information using a calendar convention; the first, second, and third quarters are consistently reported as ending on March 31, June 30, and September 30, respectively. It is Honeywell Technologies’ practice to establish actual quarterly closing dates using a predetermined fiscal calendar, which requires Honeywell Technologies’ businesses to close their books on a Saturday in order to minimize the potentially disruptive effects of quarterly closing on the Company’s business processes. The effects of this practice are generally not significant to reported results for any quarter and only exist within a reporting year. In the event differences in actual closing dates are material to year-over-year comparisons of quarterly or year-to-date results, Honeywell Technologies will provide appropriate disclosures. Honeywell Technologies’ closing dates for the three and nine months ended September 30, 2026 and 2025, were September 26, 2026 and September 27, 2025, respectively.

Honeywell Technologies reports all share and per share amounts and beginning balances of Common stock and Additional paid-in capital on a retrospective adjusted basis to reflect reverse stock splits for all periods presented, as applicable. During the second quarter of 2026, the Company’s Board of Directors approved a one-for-two reverse stock split (the Reverse Stock Split) and proportionate reduction in the number of authorized shares of common stock, subject to and contingent upon the completion of the separation of the Aerospace Technologies business (the Aerospace Spin-Off). In the third quarter on June 29, 2026, following the Aerospace Spin-Off as discussed in Note 3 Acquisitions, Divestitures, and Discontinued Operations, the Reverse Stock Split became effective. As a result of the Reverse Stock Split, every two shares of common stock issued and outstanding or held by Honeywell Technologies as treasury shares were automatically combined into one share of common stock, and the number of authorized shares of common stock was reduced from 2 billion to 1 billion with no change in par value. Any fractional shares were settled in cash.

Note 2. Summary of Significant Accounting Policies

The accounting policies of the Company are set forth in Note 1 Summary of Significant Accounting Policies of Notes to Consolidated Financial Statements in the Company’s 2025 Annual Report on Form 10-K. The Company includes herein certain updates to those policies.

Reclassifications

Certain prior year amounts are reclassified to conform to the current year presentation.

In the third quarter on June 29, 2026, the Company completed the previously announced separation of its Aerospace Technologies business into an independent, publicly traded company named Honeywell Aerospace Inc. (Honeywell Aerospace). On October 30, 2025, the Company completed the spin-off of its Advanced Materials business into an independent, publicly traded company named Solstice Advanced Materials Inc. (Solstice). Results of operations, financial position, and cash flows for the Aerospace Technologies and Advanced Materials businesses are reported as discontinued operations for all periods presented. Unless otherwise noted, information in these notes to consolidated financial statements relates to continuing operations.

Effective beginning in the first quarter of 2026, the Company realigned certain of its business units as reflected in Note 18 Segment Financial Data, which impacted the composition of its reportable segments. The Company recast historical periods to reflect this change in segment presentation, including the reallocation of goodwill on a relative fair value basis as discussed in Note 8 Goodwill and Other Intangible Assets—Net. Additionally, in conjunction with the Aerospace Spin-Off, the Company transferred assets of $26 million from the former Aerospace Technologies reportable business segment to the Industrial Automation reportable business segment. Prior period amounts have been recast.

Supply Chain Financing

Amounts outstanding related to supply chain financing programs are included in Accounts payable in the Consolidated Balance Sheet. Accounts payable included approximately $433 million and $620 million as of September 30, 2026 and December 31, 2025, respectively, related to these programs. The impact of these programs is not material to the Company’s overall liquidity.

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Honeywell International Inc.

Notes to Consolidated Financial Statements

(Unaudited)

(Dollars in tables in millions, except per share amounts)

Equity Method Investments

The Company accounts for investments under the equity method of accounting when it has the ability to exercise significant influence, but not control, over an investee. Significant influence is generally considered to exist when the Company holds an ownership interest in the voting stock of an investee of between 20% and 50%, although other factors may also be considered.

Equity method investments are recorded within Equity Method Investments in the Consolidated Balance Sheet. Differences between the carrying amount of the investment and the Company’s proportionate share of the investee’s net assets are attributed to identifiable assets and liabilities, with any residual recorded as goodwill. Basis differences are amortized over their estimated useful lives. Equity method investments are assessed for other-than-temporary impairment when events occur, or circumstances change, that indicate it is more likely than not the fair value of the asset is below its carrying value. If there is an other-than-temporary decline in the value of an equity method investment, it is recognized as an impairment loss in the current period.

The Company recognizes its proportionate share of the investee’s earnings or losses in the Consolidated Statement of Operations. Equity income and loss are classified based on the nature of the investment. Results from strategically aligned investments are recorded in Other (income) expense, while results from non-strategic investments are recorded in Equity loss.

As of September 30, 2026, the carrying amount of the Company’s equity method investment in Quantinuum Inc. (Quantinuum) was $7,113 million. During the three and nine months ended September 30, 2026, the Company recognized equity losses of $147 million and $412 million, respectively, related to this investment.

Environmental

The Company accrues costs for environmental matters when it is probable that a liability has been incurred for a contaminated site and the amount can be reasonably estimated. These estimates are informed by a range of data inputs and analytical tools, including historical remediation data, ongoing refinements to remediation strategies and centralized data aggregation tools that allow the Company to compare site characteristics and expected remediation activities across similar sites in its portfolio. Recorded liabilities are evaluated regularly and adjusted as remediation efforts progress or as additional technical, regulatory or legal information becomes available; such adjustments are accounted for as changes in estimates in the period identified.

Recent Accounting Pronouncements

The Company considers the applicability and impact of all Accounting Standards Updates (ASUs) issued by the Financial Accounting Standards Board (FASB). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company’s Consolidated Financial Statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which modernizes the accounting for internal-use software costs by removing all references to prescriptive and sequential software development stages. The new standard requires entities to consider whether significant development uncertainty has been resolved before starting to capitalize software costs and aligns disclosure requirements with Accounting Standards Codification (ASC) 360, Property, Plant, and Equipment. This ASU is effective for annual and interim reporting periods beginning after December 15, 2027, and can be applied prospectively, retrospectively, or using a modified transition method, with early adoption permitted. The Company is currently evaluating the impacts of this guidance on the Company’s Consolidated Financial Statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires companies to disclose additional information about the types of expenses in commonly presented expense captions. The new standard requires tabular disclosure of specified natural expenses in certain expense captions, a qualitative description of amounts that are not separately disaggregated, and disclosure of the Company’s definition and total amount of selling expenses. The ASU should be applied prospectively for annual reporting periods beginning after December 15, 2026, with retrospective application and early adoption permitted. The Company is currently evaluating the impacts of this guidance on the Company’s Consolidated Financial Statements.

Note 3. Acquisitions, Divestitures, and Discontinued Operations

Acquisitions

Johnson Matthey’s Catalyst Technologies Business

On July 17, 2026, the Company acquired 100% of the outstanding equity interests of Johnson Matthey’s Catalyst Technologies business, a leading provider of catalyst manufacturing and process technology licensing, for total consideration of $1,743 million,

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Honeywell International Inc.

Notes to Consolidated Financial Statements

(Unaudited)

(Dollars in tables in millions, except per share amounts)

net of cash acquired. The business is part of the Process Automation and Technology reportable business segment. The following table summarizes the determination of the fair value of identifiable assets acquired and liabilities assumed that are included in the Consolidated Balance Sheet as of September 30, 2026:

The Johnson Matthey's Catalyst Technologies business' identifiable intangible assets primarily include customer relationships and technology which will amortize over their estimated useful lives ranging from two to 15 years using straight-line and accelerated amortization methods. The goodwill is not deductible for tax purposes. As of the end of the third quarter of 2026, the purchase accounting is subject to final adjustment, primarily for the valuation of long-lived and intangible assets, amounts allocated to goodwill, working capital adjustments, and tax balances.

Sundyne

On June 6, 2025, the Company acquired 100% of the outstanding equity interests of Sundyne, a leader in the design manufacturing, and aftermarket support of highly-engineered pumps and gas compressors for process industries, for total consideration of $2,160 million, net of cash acquired. The business is part of the Process Automation and Technology reportable business segment. The Company finalized the evaluation for the fair value of all the assets acquired and liabilities assumed with Sundyne during the second quarter of 2026. The following table summarizes the determination of the fair value of identifiable assets acquired and liabilities assumed that are included in the Consolidated Balance Sheet as of September 30, 2026:

The Sundyne identifiable intangible assets primarily include customer relationships, technology, and trademarks which will amortize over their estimated useful lives ranging from one to 15 years using straight-line and accelerated amortization methods. The goodwill is not deductible for tax purposes.

Divestitures and Assets and Liabilities Held for Sale

Quantinuum

On June 4, 2026, the Company’s former consolidated subsidiary Quantinuum completed its initial public offering (IPO). Prior to the IPO, the Company consolidated Quantinuum under the Variable Interest Entity consolidation model as it had both the power to direct activities and the obligation to absorb losses of the entity. Upon completion of the IPO, the Company retained a 48% noncontrolling ownership interest in Quantinuum and accounts for its Quantinuum investment as an equity method investment. No cash contributions were made or cash distributions received by the Company as part of the IPO.

The Company recognized a gain of $6,629 million during the second quarter of 2026 as a result of the deconsolidation of Quantinuum. The gain was calculated as the difference between (i) the aggregate fair value of the retained interests in the former subsidiaries and (ii) the carrying value of the assets and liabilities of the former subsidiaries, less the carrying value of the non-controlling interest in the former subsidiaries.

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Honeywell International Inc.

Notes to Consolidated Financial Statements

(Unaudited)

(Dollars in tables in millions, except per share amounts)

The initial fair value of the retained investment of $7,525 million at the date of deconsolidation was determined using a market approach based on the observable quoted market price of Quantinuum’s common stock. At the date of deconsolidation, the carrying value of Quantinuum’s net assets was $1,599 million and the carrying value of the noncontrolling interest was $703 million.

Differences between the carrying amount of the retained equity method investment and the Company’s proportionate share of Quantinuum’s net assets were attributed to identifiable assets and liabilities utilizing purchase accounting principles, with the residual amount recorded as equity method goodwill. The Company identified basis differences related to intangible assets of $1.1 billion and equity method goodwill of $6.1 billion. Basis differences related to intangible assets will be amortized over their estimated useful lives and are recorded within Equity loss in the Consolidated Statement of Operations. The weighted-average life of the Quantinuum intangible assets is 8 years and will be amortized using a straight-line method. Basis differences related to equity method goodwill will not be amortized.

Productivity Solutions and Services and Warehouse and Workflow Solutions Businesses

As of December 31, 2025, the Company concluded the assets and liabilities of each of the Productivity Solutions and Services (PSS) and Warehouse and Workflow Solutions (WWS) businesses, which were a part of the Productivity goodwill reporting unit within the Industrial Automation reportable business segment, met the held for sale criteria, and the Company presented the associated assets and liabilities of each business as held for sale beginning December 31, 2025. On July 27, 2026, the Company completed the sale of its WWS business in exchange for total consideration of $157 million, net of cash transferred. On August 3, 2026, the Company completed the sale of its PSS business for total consideration of $1,370 million, net of cash transferred.

During the third quarter, the Company recognized a pre-tax gain on the sale of the businesses of $339 million, primarily attributed to a gain on the sale of the PSS business, which was recorded in Other (income) expense in the Consolidated Statement of Operations. During the nine months ended September 30, 2026, the Company recognized a $311 million increase to the valuation allowance to write down the WWS disposal group to fair value, less costs to sell.

The following table summarizes the assets and liabilities classified as held for sale in the Consolidated Balance Sheet as of December 31, 2025:

Spin-offs and Discontinued Operations

Our former Aerospace Technologies and Advanced Materials businesses are included in discontinued operations. Results of operations, financial position, and cash flows are reported as discontinued operations for all periods presented and the notes to the consolidated financial statements have been adjusted on a retrospective basis.

Aerospace Technologies Business

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Notes to Consolidated Financial Statements

(Unaudited)

(Dollars in tables in millions, except per share amounts)

In the third quarter on June 29, 2026 (the Distribution Date), the Company completed the Aerospace Spin-Off through a pro rata distribution of all of the issued and outstanding shares of common stock of Honeywell Aerospace to the holders of common stock of the Company. Each Honeywell Technologies shareowner received one share of Honeywell Aerospace common stock for every two shares of Honeywell Technologies common stock held of record as of the close of business on June 15, 2026, except that they received cash in lieu of any fractional shares of Honeywell Aerospace common stock that they would have received after application of such distribution ratio. The Company structured the transaction to be a tax-free separation to Honeywell Technologies for U.S. federal income tax purposes. Honeywell Aerospace is now an independent publicly traded company under the symbol “HONA” on the Nasdaq Stock Market LLC. After the date of the Aerospace Spin-Off, the Company no longer consolidates Honeywell Aerospace into its financial results.

We have continuing involvement with Honeywell Aerospace primarily through a transition services agreement, through which Honeywell Technologies and Honeywell Aerospace will continue to provide certain services to each other for a period of time following the separation, a tax matters agreement, and a trademark license agreement, among others.

Pursuant to the trademark license agreement, the Company granted to Honeywell Aerospace an exclusive license to use “Honeywell Aerospace” and other trademarks, subject to certain restrictions and exceptions. The trademark license agreement includes customary quality control provisions to protect and preserve the goodwill associated with “Honeywell” and the other licensed marks. In exchange, Honeywell Aerospace will pay Honeywell Technologies an aggregate amount of $1.125 billion over approximately five years, including an initial payment of $18.75 million due within five days of the Distribution Date followed by 59 equal monthly payments of $18.75 million. The term of the license agreement is 75 years, including an initial term of six years and additional renewal options totaling a maximum of 69 additional years. If Honeywell Aerospace elects not to renew the trademark license agreement, the Company is obligated to reimburse Honeywell Aerospace $50 million unless certain exceptions apply. Honeywell Technologies may unilaterally terminate the trademark license agreement under certain conditions, including, without limitation, (1) on the 6th anniversary of the distribution date, in which case the Company is obligated to reimburse Honeywell Aerospace $250 million of the license fees Honeywell Aerospace paid to Honeywell Technologies during the first five years of the license term, or (2) in connection with certain uncured breach events or following a change of control to which Honeywell Technologies has not provided prior consent.

Advanced Materials Business

On October 30, 2025, the Company completed the spin-off of its Advanced Materials business into an independent, publicly traded company named Solstice. The Company structured the transaction as a tax-free separation for U.S. federal income tax purposes, providing shareowners of record with one share of Solstice stock for every four shares of Honeywell common stock.

The following table summarizes the key components of net income (loss) from discontinued operations:

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Notes to Consolidated Financial Statements

(Unaudited)

(Dollars in tables in millions, except per share amounts)

The following table summarizes major classes of assets and liabilities of discontinued operations of the Aerospace Technologies business:

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Notes to Consolidated Financial Statements

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(Dollars in tables in millions, except per share amounts)

Note 4. Revenue Recognition and Contracts with Customers

The Company has a comprehensive offering of products and services, including software and technologies, that are sold to a variety of customers in multiple end markets. Beginning in 2026, the disaggregation of revenue within its Building Automation, Process Automation and Technology, and Industrial Automation segments is reported based on business model. See the following disaggregated revenue table and related discussions by reportable business segment for details:

Building Automation – A global provider of unified building automation solutions across products, hardware, software, and analytics, which help our customers convert buildings into safe, sustainable, and integrated assets. Building Automation offerings include fire detection, building controls and optimization software, energy management systems, access control, and video management software, complemented by installation, maintenance, and upgrades. Our equipment-agnostic approach creates a large aftermarket opportunity. The reportable business segment is comprised of the Products and Solutions business models. The Products business is a leading provider of multi-domain controls and software offerings, primarily through an industry-leading, highly capable, channel partner network. The Solutions business is a leading provider of integrated systems and differentiated automation technologies. Within Building Automation, our Honeywell Technologies Forge solutions enable channel partners and end-users to digitally manage buildings, through asset onboarding, self-service capabilities, and applications. Digitalization, coupled with cloud transformation, creates the capability to connect assets, visualize data that provides actionable insights through intuitive dashboards, manage systems remotely, and leverage AI to facilitate installation, commissioning, and life-time service.

Process Automation and Technology – A global provider of end-to-end solutions that drive automation throughout the industrial lifecycle, develop and innovate advanced process technology solutions, and help accelerate customers' digital transformations. The business segment delivers to multiple sectors, including energy, mining and minerals, industrials, power generation, and life sciences. The reportable business segment is comprised of the Projects and Aftermarket business models. The Projects business offers automation solutions for new and existing industrial plants, solutions for critical turbomachinery control applications, licensing, engineering of new and existing energy facilities, and energy solutions including separation and purification, gas, renewable fuels, blue H2 / blue NH3, green H2, carbon capture, plastics circularity, and energy storage. The Aftermarket business offers solutions that improve safety, reliability, sustainability, and operations excellence and delivers licensed process technology, equipment, engineering catalyst, adsorbents, and services to enable the energy transition.

Industrial Automation – A global provider of sensing and measurement solutions serving mission-critical applications across diversified verticals, including energy, power and utilities, aerospace and defense, medical devices, and semiconductors. Across these verticals, customers desire similar outcomes, such as operational efficiency, asset effectiveness, people performance, and safety. The reportable business segment is comprised of the Products and Solutions business models. The Products business offerings include fiscal custody transfer solutions, fixed and portable gas detection, safety solutions for semiconductor manufacturing, terminal operations, sensors, switches and controls, burner management systems, and fuel and air delivery. Industrial Automation offers a comprehensive suite of solutions through aftermarket services, as well as through expanding its high-value digital services and connected solutions, anchored in Honeywell Forge. Our extensive installed base of sensing and measurement offerings, combined with vertical domain expertise and deep integration with Honeywell Technologies' Forge platform, delivers distinctive, value-accretive outcomes that address evolving customer needs. The combination of data, cloud and

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Notes to Consolidated Financial Statements

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(Dollars in tables in millions, except per share amounts)

smarter edge solutions allows Industrial Automation to deliver enterprise level outcomes rather than just point solutions at each asset/site.

Corporate and All Other – Corporate and All Other includes revenue from Honeywell Technologies’ former majority-owned investment in Quantinuum prior to deconsolidation in the second quarter of 2026.

See Note 18 Segment Financial Data for a summary by disaggregated product and services sales for each reportable business segment.

The Company recognizes revenue arising from performance obligations outlined in contracts with its customers that are satisfied at a point in time and over time. The disaggregation of the Company’s revenue based on timing of recognition is as follows:

Contract Balances

The Company tracks progress on satisfying performance obligations under contracts with customers. The related billings and cash collections are recorded in the Consolidated Balance Sheet in Accounts receivable—net and Other assets (unbilled receivables (contract assets) and billed receivables), and Accrued liabilities and Other liabilities (customer advances and deposits (contract liabilities)). Unbilled receivables arise when the timing of cash collected from customers differs from the timing of revenue recognition, such as when contract provisions require specific milestones to be met before a customer can be billed. Contract assets are recognized when the revenue associated with the contract is recognized prior to billing and derecognized when billed in accordance with the terms of the contract. Contract liabilities are recorded when customers remit contractual cash payments in advance of the Company satisfying performance obligations under contractual arrangements, including those with performance obligations to be satisfied over a period of time. Contract liabilities are derecognized when revenue is recorded.

Contract balances are classified as assets or liabilities on a contract-by-contract basis at the end of each reporting period.

The following table summarizes the Company’s contract assets and liabilities balances:

For the three and nine months ended September 30, 2026, the Company recognized revenue of $124 million and $1,030 million, respectively, that was previously included in the beginning balance of contract liabilities. For the three and nine months ended September 30, 2025, the Company recognized revenue of $158 million and $990 million, respectively, that was previously included in the beginning balance of contract liabilities.

Contract assets included $1,440 million and $1,263 million of current unbilled balances under long-term contracts as of September 30, 2026 and December 31, 2025, respectively. These amounts are billed in accordance with the terms of customer contracts to which they relate.

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Notes to Consolidated Financial Statements

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(Dollars in tables in millions, except per share amounts)

When contracts are modified to account for changes in contract specifications and requirements, the Company considers whether the modification either creates new or changes the existing enforceable rights and obligations. Contract modifications for goods or services that are not distinct from the existing contract, due to the significant integration with the original good or service provided, are accounted for as if they were part of that existing contract. The effect of a contract modification on the transaction price and the Company’s measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. When the modifications include additional performance obligations that are distinct and at relative stand-alone selling price, they are accounted for as a new contract and performance obligation, which are recognized prospectively.

Performance Obligations

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is defined as the unit of account. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. When the contracts with customers require highly complex integration or manufacturing services that are not separately identifiable from other promises in the contracts and, therefore, not distinct, then the entire contract is accounted for as a single performance obligation. In situations when the Company’s contracts include distinct goods or services that are substantially the same and have the same pattern of transfer to the customer over time, they are recognized as a series of distinct goods or services. For any contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation based on the estimated relative stand-alone selling price of each distinct good or service in the contract. For product sales, each product sold to a customer typically represents a distinct performance obligation. In such cases, the observable stand-alone sales are used to determine the stand-alone selling price.

Performance obligations are satisfied as of a point in time or over time. Performance obligations are supported by contracts with customers, providing a framework for the nature of the distinct goods, services, or bundle of goods and services. The timing of satisfying the performance obligation is typically indicated by the terms of the contract. The Company’s remaining performance obligations as of September 30, 2026, are $18,798 million.

Performance obligations recognized as of September 30, 2026, will be satisfied over the course of future periods. The Company’s disclosure of the timing for satisfying the performance obligation is based on the requirements of contracts with customers. However, from time to time, these contracts may be subject to modifications, impacting the timing of satisfying the performance obligations. Performance obligations expected to be satisfied within one year and greater than one year are 49% and 51%, respectively.

The timing of satisfaction of the Company’s performance obligations does not significantly vary from the typical timing of payment. Typical payment terms of the Company’s fixed price over time contracts include progress payments based on specified events or milestones or based on project progress. For some contracts, the Company may be entitled to receive an advance payment.

The Company applied the practical expedient for certain revenue streams to exclude the value of remaining performance obligations for (i) contracts with an original expected term of one year or less or (ii) contracts for which the Company recognizes revenue in proportion to the amount the Company has the right to invoice for services performed.

Note 5. Repositioning and Other Charges

A summary of net repositioning and other charges follows:

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Notes to Consolidated Financial Statements

(Unaudited)

(Dollars in tables in millions, except per share amounts)

The following table summarizes the pre-tax distribution of total net repositioning and other charges by classification in the Consolidated Statement of Operations:

The following table summarizes the pre-tax amount of total net repositioning and other charges by reportable business segment. These amounts are excluded from segment profit as described in Note 18 Segment Financial Data:

Net Repositioning Charges

In the three months ended September 30, 2026, the Company recognized gross repositioning charges totaling $16 million, including severance costs of $8 million related to workforce reductions of 38 manufacturing and administrative positions primarily in the Company's Industrial Automation reportable business segment. These workforce reductions related to productivity and ongoing functional transformation initiatives. The repositioning charges included asset impairments of $2 million related to the write-down of certain assets within the Company’s Process Automation and Technology and Industrial Automation reportable business segments. The repositioning charges also included exit costs of $6 million related to current period costs incurred for closure obligations associated with site transitions primarily in the Company’s Industrial Automation reportable business segment and corporate function. Also, $5 million of previously established reserves, primarily for severance, were returned to income due to higher-than-expected voluntary exits and adjustments to the scope of previously announced repositioning actions.

In the three months ended September 30, 2025, the Company recognized gross repositioning charges totaling $58 million, including severance costs of $40 million related to workforce reductions of 1,055 manufacturing and administrative positions primarily in the Company’s Industrial Automation and Building Automation reportable business segments. These workforce reductions related to productivity and ongoing functional transformation initiatives. The repositioning charges included asset impairments of $2 million related to the write-down of certain assets within the Company's Industrial Automation reportable business segment. The repositioning charges also included exit costs of $16 million related to current period costs incurred for closure obligations associated with site transitions primarily in the Company’s Industrial Automation reportable business segment and corporate function. Also, $11 million of previously established reserves, primarily for severance, were returned to income due to higher-than-expected voluntary exits and adjustments to the scope of previously announced repositioning actions.

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Notes to Consolidated Financial Statements

(Unaudited)

(Dollars in tables in millions, except per share amounts)

In the nine months ended September 30, 2026, the Company recognized gross repositioning charges totaling $132 million, including severance costs of $50 million related to workforce reductions of 961 manufacturing and administrative positions primarily in the Company’s Process Automation and Technology reportable business segment and corporate function. The workforce reductions related to productivity and ongoing functional transformation initiatives. The repositioning charges also included asset impairments of $53 million for the write-down of certain assets within the Company’s Process Automation and Technology and Industrial Automation reportable business segments. The repositioning charges also included exit costs of $29 million primarily related to current period costs incurred for closure obligations associated with site transitions primarily in the Company’s Industrial Automation reportable business segment and corporate function. Also, $15 million of previously established reserves, primarily for severance, were returned to income due to higher-than-expected voluntary exits and adjustments to the scope of previously announced repositioning actions.

In the nine months ended September 30, 2025, the Company recognized gross repositioning charges totaling $113 million, including severance costs of $67 million related to workforce reductions of 1,896 manufacturing and administrative positions primarily in the Company’s Industrial Automation and Building Automation reportable business segments. The workforce reductions related to productivity and ongoing functional transformation initiatives. The repositioning charges included asset impairments of $4 million related to the write-down of certain assets within the Company’s Industrial Automation reportable business segment and corporate function. The repositioning charges also included exit costs of $42 million related to current period costs incurred for closure obligations associated with site transitions primarily in the Company’s Industrial Automation and Building Automation reportable business segments and corporate function. Also, $42 million of previously established reserves, primarily for severance, were returned to income due to adjustments to the scope of previously announced repositioning actions.

The following table summarizes the status of the Company’s repositioning reserves, excluding amounts included in Liabilities held for sale in the Consolidated Balance Sheet:

Certain repositioning projects will recognize exit costs in future periods when the actual liability is incurred. Such exit costs incurred in the nine months ended September 30, 2026 and 2025, were $30 million and $39 million, respectively.

Note 6. Income Taxes

The effective tax rate was lower than the U.S. federal statutory rate of 21% and decreased during 2026 compared to 2025 primarily as a result of changes in accruals on U.S. federal, state, and foreign tax matters, partially offset by transaction related tax costs associated with the Aerospace Spin-Off and other divestiture activity and changes in estimates on prior tax positions.

Note 7. Inventories

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Notes to Consolidated Financial Statements

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(Dollars in tables in millions, except per share amounts)

Note 8. Goodwill and Other Intangible Assets— Net

As part of the segment realignment discussed in Note 18 Segment Financial Data, the Company performed a reallocation of goodwill on a relative fair value basis as of the first quarter of 2026, with goodwill in prior periods recast on a consistent basis. This resulted in a reallocation of goodwill between the Industrial Automation and Process Automation and Technology reportable business segments. We performed interim impairment tests in the first quarter of 2026 for reporting units impacted and determined there was no goodwill impairment.

The following table summarizes the change in the carrying amount of goodwill for the nine months ended September 30, 2026, by reportable business segment:

Other intangible assets are comprised of: