Honeywell International Incorporation
04/23/2026 | Press release | Distributed by Public on 04/23/2026 08:00
Explanatory Note (Form 8-K)
Explanatory Note
Honeywell International Inc. (the "Company") is filing this Exhibit 99.1 to recast historical segment information as set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the Securities and Exchange Commission ("SEC") on February 17, 2026 ("Original Report").
As previously disclosed and as reflected in its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, effective the first quarter of 2026, the Company realigned its business units comprising its Industrial Automation and Energy Sustainability Solutions reportable business segments to form a new reportable business segment, Process Automation and Technology, and also result in a new composition of its Industrial Automation reportable business segment. Process Automation and Technology includes the core process solutions of the Honeywell Process Solutions business, which was previously in Industrial Automation, and UOP, which was previously in Energy and Sustainability Solutions. As a result, the Company will no longer report results for the Energy and Sustainability Solutions segment (the Advanced Materials business, which was formerly reported in Energy and Sustainability Solutions, was spun off on October 30, 2025). Industrial Automation will continue to include the smart energy, thermal solutions, and process measurement and control businesses, previously included in the Honeywell Process Solutions business, Sensing and Safety Technologies, Warehouse and Workflow Solutions, and Productivity Solutions and Services.
Following the realignment, the Company's reportable business segments are Aerospace Technologies, Building Automation, Process Automation and Technology, and Industrial Automation. Other operations will continue to be presented in Corporate and All Other, which is separately reported but is not a reportable business segment. In addition to the realignment, also beginning in 2026, the Company will report its disaggregation of revenue within its Building Automation, Process Automation and Technology, and Industrial Automation segments based on business model. This realignment had no impact on the Company's historical consolidated financial position, results of operations, or cash flows.
This Exhibit 99.1 provides recast segment information within the following items of the Company's Original Report to reflect the changes made to its segment reporting:
•Part I Item 1. Business - solely to reflect changes under the captions "Major Businesses," "Competition," "Backlog," and "International Operations"
•Part I Item 1A. Risk Factors - solely to update segment references
•Part I Information About Our Executive Officers - solely to reflect updated roles for executive leaders of the new segments.
•Part II Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - solely to reflect changes in "Business Update," "Results of Operations," and "Review of Business Segments"
•Part II Item 8. Financial Statements and Supplementary Data - solely to reflect changes in the "Notes to Consolidated Financial Statements," specifically "Note 2 - Acquisitions, Divestitures, and Discontinued Operations," "Note 3 - Revenue Recognition and Contracts with Customers," "Note 4 - Repositioning and Other (Gains) Charges," "Note 8 - Goodwill and Other Intangible Assets-Net," and "Note 22 - Segment Financial Data"
The items above included in this Exhibit 99.1 update the same items presented in the Original Report solely for changes in the Company's reportable segment information and the related impacts to segment disclosures as a result of the recast described above, and do not represent a restatement of previously issued financial statements. There are no changes to other disclosures presented in the Original Report, including the Company's previously reported consolidated balance sheet, statement of operations, statement of comprehensive income, statement of shareowners' equity, and statement of cash flows.
This Exhibit 99.1 does not reflect changes or events occurring subsequent to the original filing of the 2025 Form 10-K and does not modify or update the disclosures in any way, other than as required to retrospectively recast the change in segment reporting. Therefore, this Exhibit 99.1 should be read in conjunction with the Company's Original Report as filed, Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, and other periodic and current reports on Form 8-K.
ABOUT HONEYWELL
Honeywell International Inc. (Honeywell, we, us, our, or the Company) is an integrated operating company serving a broad range of industries and geographies around the world, with a portfolio that is underpinned by our Honeywell Accelerator operating system and Honeywell Forge platform. Our portfolio of solutions is uniquely positioned to blend physical products with software to serve customers worldwide. On February 6, 2025, we announced our plans to separate Honeywell from Honeywell Aerospace, into two independent U.S. public companies. Our Honeywell business will be a leading global, pure-play automation company, delivering productivity enhancing mission-critical solutions that enable optimized outcomes for customers. Our Honeywell Aerospace business will be a leading global tier-1 aerospace and defense supplier of mission critical systems and technologies that enable the production, maintenance, and safe operation of aerospace and defense platforms. Each of our businesses help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations for aerospace, building automation, industrial automation, process automation, and process technology, that help make the world smarter and safer, as well as more secure and sustainable. The Honeywell brand dates back to 1906, and the Company was incorporated in Delaware in 1985.
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 Financials (see SEC Filings) immediately after they are filed with, or furnished to, the SEC. Honeywell uses our Investor Relations website, along with press releases on our primary Honeywell website (honeywell.com) under the heading News & Media, 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 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 Form 10-K or any other report or document we file with the SEC. Any reference to our website in this Form 10-K is intended to be an inactive textual reference only.
In addition, in this Form 10-K, the Company incorporates by reference certain information from its definitive Proxy Statement for the 2026 Annual Meeting of Stockholders (the Proxy Statement), which we expect to file with the SEC not later than 120 days after December 31, 2025, and which will also be available free of charge on our website.
| ABOUT HONEYWELL | |||||
EXECUTIVE SUMMARY
Leveraging our Honeywell Accelerator operating model, we continued our portfolio transformation, demonstrating growth and operational performance while remaining focused on creating long-term shareowner value. In 2025, we delivered sales growth of 8% to $37.4 billion, with increases in three of our four reportable business segments, led by double-digit growth in our Aerospace Technologies business segment for its third consecutive year. We are unlocking growth by driving differentiated customer outcomes and enhanced, recurring revenue streams through the monetization of our vast installed base.
Portfolio optimization and capital deployment remain a central focus for Honeywell, as evidenced by the separation and segment realignment announcements that we made during 2025. On October 30, 2025, we completed the spin-off of our Advanced Materials (AM) business into an independent, publicly traded company named Solstice Advanced Materials, Inc. (Solstice). The Advanced Materials business was previously included within the Energy and Sustainability Solutions reportable segment. In connection with the spin-off, the AM business is reported in our consolidated financial statements as discontinued operations in all periods presented. See Note 2 Acquisitions, Divestitures, and Discontinued Operations of Notes to Consolidated Financial Statements for further information.
We also deployed $2.2 billion of capital to acquire Sundyne in June 2025 and announced an agreement to acquire Johnson Matthey's Catalyst Technologies business segment for £1.8 billion. We completed the divestiture of our personal protection equipment (PPE) business in May 2025 and announced our intent to pursue the separation of Honeywell from Honeywell Aerospace, into independent, U.S. publicly traded companies, which is expected to be completed in the third quarter of 2026. After the separation, Honeywell Aerospace is expected to be one of the largest publicly-traded aerospace suppliers globally, well-positioned as a premier technology and systems provider for all forms of aircraft. Similarly, Honeywell will be a leading, pure-play automation company with a vast installed base and comprehensive portfolio of technologies, solutions, and software enabling us to solve the world's most complex problems and power the digital transformation, globally. Refer to the section titled Management's Discussion and Analysis of Financial Condition and Results of Operations
Honeywell International Incorporation published this content on April 23, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 23, 2026 at 14:01 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]