Honeywell 2014 Annual Report Download - page 42

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ITEM 8. Financial Statements and Supplementary Data
HONEYWELL INTERNATIONAL INC.
CONSOLIDATED STATEMENT OF OPERATIONS
2014 2013 2012
Years Ended December 31,
(Dollars in millions,
except per share amounts)
Product sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $32,398 $31,214 $29,812
Service sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,908 7,841 7,853
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,306 39,055 37,665
Costs, expenses and other
Cost of products sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,889 23,317 22,929
Cost of services sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,068 5,047 5,362
28,957 28,364 28,291
Selling, general and administrative expenses . . . . . . . . . . . . . . . . . . . 5,518 5,190 5,218
Other (income) expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (305) (238) (70)
Interest and other financial charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . 318 327 351
34,488 33,643 33,790
Income from continuing operations before taxes . . . . . . . . . . . . . . . . . . . . 5,818 5,412 3,875
Tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,489 1,450 944
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,329 3,962 2,931
Less: Net income attributable to the noncontrolling interest . . . . . . . . . . 90 38 5
Net income attributable to Honeywell . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,239 $ 3,924 $ 2,926
Earnings per share of common stock—basic. . . . . . . . . . . . . . . . . . . . . . . . $ 5.40 $ 4.99 $ 3.74
Earnings per share of common stock—assuming dilution . . . . . . . . . . . . $ 5.33 $ 4.92 $ 3.69
Cash dividends per share of common stock . . . . . . . . . . . . . . . . . . . . . . . . $ 1.87 $ 1.68 $ 1.53
The Notes to Financial Statements are an integral part of this statement.
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