2016 Q4 Form 10-K Financial Statement

#000093041317000391 Filed on February 10, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q4 2015 Q3
Revenue $9.985B $9.982B $9.611B
YoY Change 0.03% -2.77% -4.92%
Cost Of Revenue $7.406B $6.917B $6.654B
YoY Change 7.07% -8.58% -6.65%
Gross Profit $3.106B $3.065B $2.957B
YoY Change 1.34% 13.52% -0.77%
Gross Profit Margin 31.11% 30.71% 30.77%
Selling, General & Admin $1.598B $1.332B $1.202B
YoY Change 19.97% -8.77% -10.57%
% of Gross Profit 51.45% 43.46% 40.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $257.0M $222.0M $219.0M
YoY Change 15.77% -1.77% -40.0%
% of Gross Profit 8.27% 7.24% 7.41%
Operating Expenses $1.174B $1.328B $1.202B
YoY Change -11.6% -9.41% -10.57%
Operating Profit $1.932B $1.737B $1.755B
YoY Change 11.23% 40.76% 7.27%
Interest Expense $32.00M -$89.00M -$77.00M
YoY Change -135.96% -236.92% 28.33%
% of Operating Profit 1.66% -5.12% -4.39%
Other Income/Expense, Net $24.00M
YoY Change 14.29%
Pretax Income $1.437B $1.653B $1.707B
YoY Change -13.07% 26.76% 8.04%
Income Tax $389.0M $450.0M $431.0M
% Of Pretax Income 27.07% 27.22% 25.25%
Net Earnings $1.034B $1.194B $1.264B
YoY Change -13.4% 24.9% 8.31%
Net Earnings / Revenue 10.36% 11.96% 13.15%
Basic Earnings Per Share $1.36 $1.55 $1.62
Diluted Earnings Per Share $1.34 $1.53 $1.60
COMMON SHARES
Basic Shares Outstanding 780.4M shares
Diluted Shares Outstanding 789.5M shares

Balance Sheet

Concept 2016 Q4 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.874B $7.558B $10.36B
YoY Change 30.64% -16.98% 18.25%
Cash & Equivalents $7.843B $5.455B $6.563B
Short-Term Investments $2.031B $2.103B $3.800B
Other Short-Term Assets $1.152B $0.00 $739.0M
YoY Change -100.0% -68.36%
Inventory $4.366B $4.420B $4.441B
Prepaid Expenses
Receivables $8.177B $8.075B $7.936B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $23.06B $20.05B $23.48B
YoY Change 14.99% -9.63% 5.01%
LONG-TERM ASSETS
Property, Plant & Equipment $5.793B $5.789B $5.451B
YoY Change 0.07% 7.54% 5.05%
Goodwill $17.71B $15.90B $12.68B
YoY Change 11.4% 24.3% -1.85%
Intangibles $4.634B $4.577B $2.071B
YoY Change 1.25% 107.29%
Long-Term Investments $587.0M $517.0M $471.0M
YoY Change 13.54% 11.18% 5.37%
Other Assets $1.603B $1.776B $1.726B
YoY Change -9.74% 13.99% -25.44%
Total Long-Term Assets $31.51B $29.26B $23.15B
YoY Change 7.67% 25.81% -2.84%
TOTAL ASSETS
Total Short-Term Assets $23.06B $20.05B $23.48B
Total Long-Term Assets $31.51B $29.26B $23.15B
Total Assets $54.57B $49.32B $46.63B
YoY Change 10.65% 8.5% 0.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.690B $5.580B $5.363B
YoY Change 1.97% 4.01% 2.9%
Accrued Expenses $7.048B $6.277B $6.036B
YoY Change 12.28% -7.3% -8.63%
Deferred Revenue
YoY Change
Short-Term Debt $3.366B $5.937B $4.000M
YoY Change -43.3% 249.65% -95.6%
Long-Term Debt Due $227.0M $577.0M $1.268B
YoY Change -60.66% -38.55% 570.9%
Total Short-Term Liabilities $16.33B $18.37B $16.37B
YoY Change -11.1% 24.36% 17.35%
LONG-TERM LIABILITIES
Long-Term Debt $12.18B $5.554B $5.599B
YoY Change 119.34% -8.14% -17.17%
Other Long-Term Liabilities $4.110B $4.348B $3.903B
YoY Change -5.47% 1.54% 20.84%
Total Long-Term Liabilities $4.110B $4.348B $3.903B
YoY Change -5.47% 1.54% 20.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.33B $18.37B $16.37B
Total Long-Term Liabilities $4.110B $4.348B $3.903B
Total Liabilities $20.44B $22.72B $20.27B
YoY Change -10.03% 19.23% 18.01%
SHAREHOLDERS EQUITY
Retained Earnings $28.71B $26.15B $25.43B
YoY Change 9.8% 13.12% 12.66%
Common Stock $6.739B $6.335B $6.250B
YoY Change 6.38% 5.65% 6.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.37B $11.66B $11.55B
YoY Change 14.59% 16.7% 17.68%
Treasury Stock Shares
Shareholders Equity $19.37B $18.28B $17.76B
YoY Change
Total Liabilities & Shareholders Equity $54.15B $49.32B $46.63B
YoY Change 9.79% 8.5% 0.96%

Cashflow Statement

Concept 2016 Q4 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $1.034B $1.194B $1.264B
YoY Change -13.4% 24.9% 8.31%
Depreciation, Depletion And Amortization $257.0M $222.0M $219.0M
YoY Change 15.77% -1.77% -40.0%
Cash From Operating Activities $2.042B $1.963B $1.727B
YoY Change 4.02% 11.41% 40.06%
INVESTING ACTIVITIES
Capital Expenditures -$346.0M -$388.0M -$277.0M
YoY Change -10.82% -6.28% 6.95%
Acquisitions
YoY Change
Other Investing Activities $280.0M -$3.542B $238.0M
YoY Change -107.91% -2101.13% -236.0%
Cash From Investing Activities -$66.00M -$3.930B -$39.00M
YoY Change -98.32% 1558.23% -91.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -362.0M 950.0M -843.0M
YoY Change -138.11% -223.54% 4.2%
NET CHANGE
Cash From Operating Activities 2.042B 1.963B 1.727B
Cash From Investing Activities -66.00M -3.930B -39.00M
Cash From Financing Activities -362.0M 950.0M -843.0M
Net Change In Cash 1.614B -1.017B 845.0M
YoY Change -258.7% -234.52% -8550.0%
FREE CASH FLOW
Cash From Operating Activities $2.042B $1.963B $1.727B
Capital Expenditures -$346.0M -$388.0M -$277.0M
Free Cash Flow $2.388B $2.351B $2.004B
YoY Change 1.57% 8.04% 34.32%

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<div><p style='text-align:justify;margin-top:8pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Arial;font-size:10pt;font-weight:bold;font-style:italic;margin-left:36pt;' >Reclassifications</font><font style='font-family:Arial;font-size:10pt;' >&#8212;Certain prior year amounts have been reclassified to conform to the current year presentation.</font></p><p style='text-align:justify;margin-top:8pt;margin-bottom:0pt;line-height:12pt;' ></p></div>
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CY2015 hon Effectiveincometaxratereconciliationdeductionsemployeesharebasedpayments
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CY2016 hon Effective Foreign Income Tax Rate Increase Decrease Percent
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CY2016 hon Foreign Effective Income Tax Rate
ForeignEffectiveIncomeTaxRate
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CY2015 hon Net Change In Effective Tax Rate From Prior Period
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0.008 pure
CY2015 hon Foreign Effective Income Tax Rate
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-0.016 pure
CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4700000 shares
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7100000 shares
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7500000 shares
CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
257000000 USD
CY2016 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
304000000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
394000000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
400000000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
396000000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
353000000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
300000000 USD
CY2014 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-181000000 USD
CY2014 us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
38000000 USD
CY2016 us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
228000000 USD
CY2015 us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
273000000 USD
CY2014 us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
321000000 USD
CY2016 us-gaap Accrual For Environmental Loss Contingencies Charges To Expense For New Losses
AccrualForEnvironmentalLossContingenciesChargesToExpenseForNewLosses
195000000 USD
CY2015 us-gaap Accrual For Environmental Loss Contingencies Charges To Expense For New Losses
AccrualForEnvironmentalLossContingenciesChargesToExpenseForNewLosses
194000000 USD
CY2014 us-gaap Accrual For Environmental Loss Contingencies Charges To Expense For New Losses
AccrualForEnvironmentalLossContingenciesChargesToExpenseForNewLosses
268000000 USD
CY2015Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
292000000 USD
CY2016Q4 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
546000000 USD
CY2016 us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
212000000 USD
CY2015 us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
209000000 USD
CY2014 us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
259000000 USD
CY2016 us-gaap Loss Contingency Receivable Proceeds
LossContingencyReceivableProceeds
43000000 USD
CY2015 us-gaap Loss Contingency Receivable Proceeds
LossContingencyReceivableProceeds
63000000 USD
CY2014 us-gaap Loss Contingency Receivable Proceeds
LossContingencyReceivableProceeds
211000000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
12182000000 USD
CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
5554000000 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
12409000000 USD
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
6131000000 USD
CY2016 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-249000000 USD
CY2016 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
CY2016 us-gaap Additional Information About Entitys Reportable Segments
AdditionalInformationAboutEntitysReportableSegments
In July 2016, the Company announced the realignment of the business units comprising its Automation and Control Solutions reporting segment by forming two new reportable operating segments: Home and Building Technologies and Safety and Productivity Solutions.  Home and Building Technologies includes Environmental & Energy Solutions, Security and Fire, and Building Solutions and Distribution. Additionally, the Industrial Combustion/Thermal business, previously part of Environmental & Energy Solutions in Automation and Control Solutions, became part of Performance Materials and Technologies. Safety and Productivity Solutions includes Sensing & Productivity Solutions and Industrial Safety, as well as the Intelligrated business. Under the realigned segment reporting structure, the Company’s reportable operating segments are Aerospace, Home and Building Technologies, Performance Materials and Technologies and Safety and Productivity Solutions.
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2016 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2015 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2016 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
222640650

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