Honeywell International (HON) 10-Q 20 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2018shares
Document And Entity Information [Abstract]
Document type	10-Q
Document period end date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment flag	false
Entity registrant name	Honeywell International Inc.
Entity central index key	773,840
Entity current reporting status	Yes
Entity voluntary filers	No
Current fiscal year end date	--12-31
Entity filer category	Large Accelerated Filer
Entity well known seasoned issuer	Yes
Entity common stock shares outstanding	746,929,832
Entity Tax Identification Number	222,640,650

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Consolidated Statement of Operations
Product sales	$ 8,234	$ 7,540
Service sales	2,158	1,952
Net Sales	10,392	9,492
Costs, expenses and other
Cost of products sold	5,905	5,381
Cost of services sold	1,288	1,148
Cost of products and services sold	7,193	6,529
Selling, general and administrative expenses	1,475	1,422
Other (income) expense	(268)	(258)
Interest and other financial charges	83	75
Cost, operating and non-operating expenses	8,483	7,768
Income before taxes	1,909	1,724
Tax expense	458	392
Net income	1,451	1,332
Less: Net income attributable to the noncontrolling interest	13	6
Net income attributable to Honeywell	$ 1,438	$ 1,326
Earnings per share of common stock - basic	$ 1.92	$ 1.74
Earnings per share of common stock - assuming dilution	1.89	1.71
Cash dividends per share of common stock	$ 0.745	$ 0.665

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 1,451,000,000	$ 1,332,000,000
Other Comprehensive Income (Loss), Net Of Tax [Abstract]
Foreign exchange translation adjustment	91,000,000	248,000,000
Prior service credit (cost)	0	(46,000,000)
Actuarial (gains) losses recognized	2,000,000	2,000,000
Prior service (credit) cost recognized	(18,000,000)	(16,000,000)
Pension and other postretirement benefits adjustments	(16,000,000)	(60,000,000)
Effective portion of cash flow hedges recognized in other comprehensive income (loss)	(32,000,000)	(13,000,000)
Less: Reclassification adjustment for gains (losses) included in net income	(18,000,000)	23,000,000
Changes in fair value of effective cash flow hedges	(14,000,000)	(36,000,000)
Other comprehensive income (loss), net of tax	61,000,000	152,000,000
Comprehensive income	1,512,000,000	1,484,000,000
Less: Comprehensive income attributable to the noncontrolling interest	18,000,000	9,000,000
Comprehensive income attributable to Honeywell	$ 1,494,000,000	$ 1,475,000,000

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 7,897	$ 7,059
Short-term investments	2,383	3,758
Accounts receivable - net	8,778	8,866
Inventories	4,766	4,613
Other current assets	1,763	1,706
Total current assets	25,587	26,002
Investments and long-term receivables	737	667
Property, plant and equipment - net	6,083	5,926
Goodwill	18,520	18,277
Other intangible assets - net	4,462	4,496
Insurance recoveries for asbestos related liabilities	404	411
Deferred income taxes	402	236
Other assets	4,753	3,372
Total assets	60,948	59,387
Current liabilities:
Accounts payable	6,641	6,584
Commercial paper and other short-term borrowings	5,406	3,958
Current maturities of long-term debt	143	1,351
Accrued liabilities	6,565	6,968
Total current liabilities	18,755	18,861
Long-term debt	12,738	12,573
Deferred income taxes	2,782	2,894
Postretirement benefit obligations other than pensions	495	512
Asbestos related liabilities	1,178	1,173
Other liabilities	7,221	5,930
Redeemable noncontrolling interest	5	5
SHAREOWNERS' EQUITY
Capital - common stock issued	958	958
Capital - additional paid in capital	6,250	6,212
Common stock held in treasury, at cost	(16,834)	(15,914)
Accumulated other comprehensive loss	(2,174)	(2,235)
Retained earnings	29,395	28,255
Total Honeywell shareowners' equity	17,595	17,276
Noncontrolling interest	179	163
Total shareowners' equity	17,774	17,439
Total liabilities, redeemable noncontrolling interest, and shareowners' equity	$ 60,948	$ 59,387

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income	$ 1,451	$ 1,332
Less: Net income attributable to the noncontrolling interest	13	6
Net income attributable to Honeywell	1,438	1,326
Adjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities:
Depreciation	179	170
Amortization	109	101
Repositioning and other charges	193	129
Net payments for repositioning and other charges	(141)	(137)
Pension and other postretirement income	(254)	(183)
Pension and other postretirement benefit payments	(36)	(24)
Stock compensation expense	52	50
Deferred income taxes	46	(42)
Other	2	14
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable	(61)	23
Inventories	(163)	(286)
Other current assets	(43)	(25)
Accounts payable	57	115
Accrued liabilities	(242)	(291)
Net cash provided by operating activities	1,136	940
Cash flows from investing activities:
Expenditures for property, plant and equipment	(140)	(168)
Proceeds from disposals of property, plant and equipment	2	24
Increase in investments	(583)	(1,256)
Decrease in investments	1,838	825
Other	(123)	(29)
Net cash provided by (used for) investing activities	994	(604)
Cash flows from financing activities:
Proceeds from issuance of commercial paper and other short-term borrowings	6,676	2,468
Payments of commercial paper and other short-term borrowings	(5,329)	(2,467)
Proceeds from issuance of common stock	60	221
Proceeds from issuance of long-term debt	3	11
Payments of long-term debt	(1,246)	(5)
Repurchases of common stock	(940)	(310)
Cash dividends paid	(556)	(503)
Other	(116)	(33)
Net cash used for financing activities	(1,448)	(618)
Effect of foreign exchange rate changes on cash and cash equivalents	156	149
Net increase (decrease) in cash and cash equivalents	838	(133)
Cash and cash equivalents at beginning of period	7,059	7,843
Cash and cash equivalents at end of period	$ 7,897	$ 7,710

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation [Text Block]	Note 1 . Basis of Presentation In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position of Honeywell International Inc. and its consolidated subsidiaries (“Honeywell” or “the Company”) at March 31, 2018 and 2017 and th e results of operations and cash flows for the three months ended March 31, 2018 and 2017 . The results of operations and cash flows for the three months ended March 31, 2018 should not necessar il y be taken as indicative of the entire year. We report our 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 . It has been our practice to establish actual quarterly closi ng dates using a predetermined fiscal calendar, which requires our businesses to close their books on a Saturday in order to minimize the potentially disruptive effects of quarterly closing on our business proces ses. 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 that differences in actual closing dates are material to year-over-year comparisons of quarterly or yea r-to-date results, we will provide appropriate disclosures. Our actual closing dates for the three months ended March 31, 2018 and 2017 were March 31 , 2018 and April 1, 2017.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies [Text Block]	Note 2 . Summary of Significant Accounting Policies The accounting policies of the Company are set forth in Note 1 to Consolidated Financial S tatements contained in the Company’s 2017 Annual Report on Form 10-K. We include herein certain updates to those policies . Reclassifications – Certain prior year amounts have been reclassified to conform to the current year presentation. Sales Recognition —Product and service sales are recognized when or as we transfer control of the promised products or services to our customer. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Service sales, principally representing repair, maintenance and engineering activities are recognized over the contractual period or as services are rendered. Sales under long-term contracts with performance obligations satisfied over time are recognized using either an input or output method. We recognize revenue over time as we perform on these contracts because of the continuous transfer of control to the customer. With control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. We generally use the cost-to-cost in put method of progress for our contracts because it best depicts the transfer of control to the customer that occurs as we incur costs. Under the cost-to-cost method, the extent of progress towards completion is measured based on the proportion of costs in curred to date to the total estimated costs at completion of the performance obligation. Provisions for anticipated losses on long-term contracts are recorded in full when such losses become evident, to the extent required. The customer funding for costs i ncurred for nonrecurring engineering and development activities of our products under agreements with commercial customers is deferred and subsequently recognized as revenue as products are delivered to the customers. Additionally, expenses incurred, up to the customer agreed funded amount, are deferred as an asset and recognized as cost of sales when products are delivered to the customer. The deferred customer funding and costs result in recognition of deferred costs (asset) and deferred revenue (liabilit y) on our Consolidated Balance Sheet. Revenues for our mechanical service programs are recognized as performance obligations are satisfied over time, with recognition reflecting a series of distinct services using the output method. The terms of a contract or the historical business practice can give rise to variable consideration due to, but not limited to, cash-based incentives, rebates, performance awards, or credits. We estimate variable consideration at the most likely amount we will receive from custo mers. We include estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized for such transaction will not occur , or when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all information (historical, current and forecasted) that is reasonably available to us. Aerospace Sales Incentives — We provide sales incentives to commercial aircraft manufacturers and airlines in connection with their selection of our aircraft equipment, predominately wheel and braking system hardware, avionics, and auxiliary power units, for installation on commercial aircraft. These incentives consist of free or deeply discounted products, credits for future purchases of product or upfront cash payments. These costs are generally recognized in the peri od incurred as cost of products sold or as a reduction to relevant sales, as appropriate. Pension Benefits — On Januar y 1, 2018, we retrospectively adopted the new accounting guidance on presentation of n et periodic pension cost s. That guidance req uires that we disaggregate the service cost component of net benefit cost s and report those costs in the same line item or items in the Consolidated Statement of O perations as other compensation costs arising from services rendered by the pertinent employees during the period . The other non-service components of net benefit cost s are required to be presented separately from the service cost component . Following the adoption of this guidance, w e continue to record the service cost component of Pension ongoing (incom e) expense in Costs of products and services sold and Selling, general and administrative expenses . The remaining components of net benefit costs within P ension ongoing (income) expense , primarily in terest costs and assumed return on plan assets, are now r ecorded in Other (income) expense. We will continue to recognize net actuarial gains or losses in excess of 10% of the greater of the fair value of plan assets or the plans’ projected benefit obligation (the corridor) annually in the fourth quarter each ye ar (MTM Adjustment) . The MTM Adjustment will also be reported in Other (income) expense. Recent Accounting Pronouncements — We consider 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 our consolidated result of operations, financial position and cash flows (Consolidated Financial Statements) . In Feb ruary 2016, the FASB issued guidance on accounting for leases which requires lessees to recognize most leases on their balance sheets for the rights and obligations created by those leases. The guidance requires enhanced disclosures regarding the amount, t iming, and uncertainty of cash flows arising from leases that will be effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted. We expect to adopt the requirements of the new standard effective January 1, 20 19. The guidance requires the use of a modified retrospective approach. We are currently evaluating our lease portfolio to assess the impact to the Consolidated Financial Statements as well as planning for adoption and implementation of this standard, whi ch includes assessing the impact on information systems and internal controls. In August 2017, the FASB issued amendments to hedge accounting guidance. These amendments are intended to better align a company's risk management strategies and financial reporting for hedging relationships. Under the new guidance, more hedging strategies will be eligible for hedge accounting and the application of hedge accounting is simplified. In addition, the new guidance amends presentation and disclosure requirements . The guidance is effective for fiscal years beginning after December 15, 2018 with early a doption permitted, including for interim periods within those years. The guidance requires the use of a modified retrospective approach. We are currently evaluating the impact of the guidance on our consolidated financial statements and whether we will early adopt this guidance . In February 2018, the FASB issued guidance that allows for an entity to elect to reclassify the income tax effects on items within accumulat ed other comprehensive income resulting from U.S. tax reform to retained earnings . The guidance is effective for fiscal years beginning after December 15, 2018 with early adoption permitted, including interim periods within those years. We are currently evaluating the impact of this standard on our Consolidated Financial Statements and whether we will make the allowed election.

REPOSITIONING AND OTHER CHARGES

REPOSITIONING AND OTHER CHARGES	3 Months Ended
	Mar. 31, 2018
Repositioning And Other Charges [Abstract]
Repositioning and Other Charges	Note 3 . Repositioning and Other Charges A summary of repositioning and other charges follows: Three Months Ended March 31, 2018 2017 Severance $ 31 $ 20 Asset impairments 47 2 Exit costs 8 1 Reserve adjustments (1) 6 Total net repositioning charge 85 29 Asbestos related litigation charges, net of insurance 51 50 Probable and reasonably estimable environmental liabilities 57 50 Total net repositioning and other charges $ 193 $ 129 The following table summarizes the pretax distribution of total net repositioning and other charges by income statement classification: Three Months Ended March 31, 2018 2017 Cost of products and services sold $ 130 $ 136 Selling, general and administrative expenses 22 (7) Other (income) expense 41 - $ 193 $ 129 The following table summarizes the pretax impact of total net repositioning and other charges by segment: Three Months Ended March 31, 2018 2017 Aerospace $ 70 $ 73 Home and Building Technologies 4 (1) Performance Materials and Technologies 4 3 Safety and Productivity Solutions 7 (4) Corporate 108 58 $ 193 $ 129 In the quarter ended March 31, 2018 , we recognized repositioning charges totaling $ 86 million including severance costs of $31 million related to workforce reductions of 1,153 manufacturing and administrative positions mainly in Aerospace and Safety and Productivity Solutions . The workforce reductions were primarily related to site transitions to more cost-effective locations. The repositioning charge included asset impairments of $47 million primarily in our Corporate segment r elated to the write-down of a legacy property in connection with its planned disposition. In the quarter ended March 31, 2017 , we recognized repositioning charges totaling $ 23 million including severance costs of $20 million r elated to workforce reductions of 622 manufacturing and administrative positions across our segments . The workforce reductions were primarily related to cost savings actions taken in connection with our productivity and ongoing functional transformati on initiatives and with site transitions, mainly in Aerospace, to more cost-effective locations. Also, $6 million of net reserve adjustments increased the previously established accruals, primarily for severance in Aerospace, due mainly to lower attritio n than anticipated and higher expected severance payments. The following table summarizes the status of our total repositioning reserves: Severance Asset Exit Costs Impairments Costs Total December 31, 2017 $ 442 $ - $ 71 $ 513 Charges 31 47 8 86 Usage - cash (62) - (17) (79) Usage - noncash - (47) - (47) Foreign currency translation 7 - - 7 Adjustments (2) - 1 (1) March 31, 2018 $ 416 $ - $ 63 $ 479 Certain repositioning projects in 2018 and 2017 included exit or disposal activities, the costs related to which will be recognized in future periods when the actual liability is incurred. Such exit and disposal costs a re not expected to be signific ant.

OTHER (INCOME) EXPENSE

OTHER (INCOME) EXPENSE	3 Months Ended
	Mar. 31, 2018
Other (Income) Expense [Abstract]
Other (income) expense [Text Block]	Note 4 . Other (Income) E xpense Three Months Ended March 31, 2018 2017 Interest income $ (50) $ (31) Pension ongoing income – non-service (304) (242) Other postretirement income – non-service (6) (4) Equity income of affiliated companies (11) (6) Foreign exchange (1) 20 Separation costs 55 - Other (net) 49 5 $ (268) $ (258) Separation costs are associated with our previously announced spin-offs of our Homes and Global Distribution business and Transportation Systems business, and are primarily associated with third party services. Other (net) includes an asset impairment in our Corporate segment related to the write-down of a legacy property in connection with its planned disposition. Refer to Note 3 Repositioning and Other Charges for further det ails of transactions recognized .

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Note 5 . Earnings Per Share Three Months Ended March 31, Basic 2018 2017 Net income attributable to Honeywell $ 1,438 $ 1,326 Weighted average shares outstanding 750.6 763.1 Earnings per share of common stock $ 1.92 $ 1.74 Three Months Ended March 31, Assuming Dilution 2018 2017 Net income attributable to Honeywell $ 1,438 $ 1,326 Average Shares Weighted average shares outstanding 750.6 763.1 Dilutive securities issuable - stock plans 10.4 10.8 Total weighted average shares outstanding 761.0 773.9 Earnings per share of common stock - assuming dilution $ 1.89 $ 1.71 The diluted earnings per share calculations exclude the effect of stock options when the options’ assumed proceeds exceed the average market price of the common shares during the period. For the three months ended March 31, 2018 and 2017 , the weighted average number of stock options excluded from t he computations was 1.1 million and 2.1 million. These stock options were outstanding at the end of each of the respective periods . A s of March 31, 2018 and 2017 , total shares outstanding were 746.9 million and 762.3 million and a s of both March 31, 2018 and 2017 , total shares issued were 957.6 million .

REVENUE RECOGNITION AND CONTRAC

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenue From Contract With Customer [Text Block]	Note 6 . Revenue Recognition and Contracts with Customers Adoption On January 1, 2018, the Company adopted new guidance on revenue from contracts with customers using the modified retrospective method applied to contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under the new guidance, while prior period amounts are not adjusted and continue to be reported in accordance with previous guidance. We recorded a net decrease to opening retained earnings of $75 million as of January 1, 2018, for the cumulative impact of adopting the new guidance. The impact primarily related to the change in accounting for mechanical service programs (change from input to output method, resulting in unbilled receivables (within Accounts receivable – net) and deferred revenue (within Accrued liabilities) being eliminated through R etained earnings) and for customer funding and the related costs incurred for nonrecurring engineering and development a ctivities (deferral of revenues and related incurred costs until products are delivered to customers, resulting in increases in both deferred costs (assets) and deferred revenue (liability) by approximately $1.1 billion at adoption) . New Balance at Revenue Balance at December 31, Standard January 1, 2017 Adjustment 2018 ASSETS Current assets: Accounts receivable - net $ 8,866 $ (149) $ 8,717 Inventories 4,613 (10) 4,603 Deferred income taxes 236 40 276 Other assets 3,372 1,082 4,454 LIABILITIES Current liabilities: Accrued liabilities 6,584 (48) 6,536 Deferred income taxes 2,894 1 2,895 Other liabilities 5,930 1,084 7,014 SHAREOWNERS' EQUITY Retained earnings 28,255 (75) 28,180 Noncontrolling interest $ 163 $ 1 $ 164 Under the modified retrospective method of adoption, we are required to disclose the impact to revenues had we continued to follow our accounting policies under the previous revenue recognition guidance. We estimate that t he impact to revenues for the quarter ended Marc h 31, 2018 would have been a decrease of approximately $ 120 million, which is primarily due to the net impact of the classification change and deferral impact of nonrecurring engineering and development activities, and the net impact from service programs with certain amounts being recognized that would have previously been deferred, and certain amount being deferred that would have previously been recognized. Refer to Note 2 Summary of Significant Accounting Policies for a summary of our significant policies for revenue recognition. Disaggregated Revenue Honeywell has a comprehensive offering of products and services, including software and technologies, that are sold to a variety of customers in multiple end markets. See the following t able and related discussions by operating segment for details. Three Months Ended March 31, 2018 Aerospace Commercial Original Equipment $ 695 Commercial Aftermarket 1,268 Defense Services 1,086 Transportation Systems 928 3,977 Home and Building Technologies Products and Software 519 Distribution (ADI) 638 Connected Buildings 209 Building Solutions 562 Building Products 505 2,433 Performance Materials and Technologies UOP 612 Process Solutions 894 Smart Energy 320 Specialty Products 277 Fluorine Products 431 2,534 Safety and Productivity Solutions Safety and Retail 551 Productivity Products 329 Warehouse and Workflow Solutions 367 Sensing & Internet-of-Things (IoT) 201 1,448 $ 10,392 Aerospace – A global supplier of products, software and services for aircraft and vehicles. Products include aircraft propulsion engines, auxiliary power units, environmental control systems, integrated avionics, electric power systems, hardware for engine controls, flight safety, communications, and navigation, satellite and space components, aircraft wheels and brakes, turbochargers and thermal systems. Software includes engine controls, flight safety, communications, navigation, radar and surveill ance systems, internet connectivity and aircraft instrumentation. Services are provided to customers for the repair, overhaul, retrofit and modification of propulsion engines, auxiliary power units, avionics and mechanical systems and aircraft wheels and brakes. Home and Building Technologies – A global provider of products, software, solutions and technologies. Products include controls and displays for heating, cooling, indoor air quality, ventilation, humidification, combustion, lighting and home auto mation; sensors, switches, control systems and instruments for measuring pressure, air flow, temperature and electrical current; access control; video surveillance; fire detection; remote patient monitoring systems; and installation, maintenance and upgrad es of systems that keep buildings safe, comfortable and productive. Software includes monitoring and managing heating, cooling, indoor air quality, ventilation, humidification, combustion, lighting and home automation; advanced applications for home/build ing control and optimization; video surveillance; and to support remote patient monitoring systems. Installation, maintenance and upgrade services of products used in commercial building applications for heating, cooling, maintaining indoor air quality, v entilation, humidification, combustion, lighting, video surveillance and fire safety. Performance Materia ls and Technologies – A global provider of products, software, solutions and technologies. Products include catalysts, absorbents, equipment and high- performance materials , devices for measurement, regulation, control and met ering of gases and electricity, and metering and communications systems for water utilities and industries . Software is provided to support process technologies supporting automati on and to monitor a variety of industrial processes used in industries such as oil and gas, chemicals, petrochemicals, metals, minerals and mining industries. Services are provided for installation and maintenance of products. Safety and Productivity So lutions – A global provider of products, software and solutions. Products include personal protection equipment and footwear, gas detection devices, mobile computing, data collection and thermal printing devices, automation equipment for supply chain and warehouse automation and custom-engineered sensors, switches and controls. Software and solutions are provided to customers for supply chain and warehouse automation, to manage data and assets to drive productivity and for computing, data collection and t hermal printing. For a summary by disaggregated product and services sales for each segment, r efer to Note 12 Segment Financial Data . We recognize revenue arising from performance obligations outlined in contracts with our customers that are s atisfied at a point in time and over time. The disaggregation of our revenue based off timing of recognition is as follows: Three Months Ended March 31, 2018 Products, transferred point in time 69 % Products, transferred over time 10 Net product sales 79 Services, transferred point in time 7 Services, transferred over time 14 Net service sales 21 Net sales 100 % Contract Balances Progress on satisfying performance obligations under contracts with customers and the related billi ngs and cash collections are recorded on the Consolidated Balance Sheet in Accounts r eceivable - net and Other a ssets ( the current and noncurrent portions, respectively, of unbilled receivables (contract assets) and billed receivables) and Accrued l iabilities and Other l iabilities (the current and noncurrent portions, respectively, of customer advances and deposits (contra ct liabil ities)) . Unbilled receivables (c ontract assets ) a rise when the timing of cas h 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 . Those 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 us satisfying performance obligations under contractual arrangements , including those with performance obligations to be satisfied over a p eriod of time . Contr act liabilities are derecognized when revenue is recorded , either wh en a milestone is met triggering the contractua l right to bill or when the performance obligation is satisfied. Contract balances are classified as assets or li abilities on a contract-by-contract basis at the end of each reporting period. The following table summarizes our contract assets and liabilities balances: 2018 Contract assets - January 1 $ 1,721 Contract assets - March 31 1,672 Change in contract assets - increase (decrease) $ (49) Contract liabilities - January 1 $ (2,973) Contract liabilities - March 31 (3,081) Change in contract liabilities - (increase) decrease $ (108) Net change $ (157) The net change was primarily driven by the receipt of advance payments from customers exceeding reductions from recognition of revenue as performance obligation s were satisfied and related billings. For the quarter ended March 31, 2018, we recognized revenue of $ 581 million t hat was previously included in the beginning b alance of contract liabilities . When contracts are modified to account for changes in contract specifications and requirements, we consider whether the modification either creates new o r changes the existing enforceable rights and obligations. Contract modifications that are 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 our measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue (either as an incre ase 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 obliga tion, 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 allocate d to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. When our contracts with customers require highly complex integration or manufacturing services that are not separately identifiable fr om other promises in the contracts and, therefore, not distinct, then the entire contract is accounted for as a single performance obligation. In situations when our contract includes 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, we allocate the contract’s transaction price to each performance obligation based on the estimated relative standalone 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 standalone 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, ser vices or bundle of goods and services. The timing of satisfying the performance obligation is typically indicated by the terms of the contract. The following table outlines our performance obligations disaggregated by segment. March 31, 2018 Aerospace $ 8,257 Home and Building Technologies 6,176 Performance Materials and Technologies 7,072 Safety and Productivity Solutions 1,764 $ 23,269 Performance obligations recognized as of March 31, 2018 will be satisfied over the course of future periods. Our 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 58 % and 42 % . The ti ming of satisfaction of our performance obligations does not significantly vary from the typical timing of payment. Typical payment terms of our fixed-price over time contracts include progress payments based on specified events or milestones, or based on project progress. For some contracts we may be entitled to receive an advance payment. We have applied the pra ctical expedient for certain revenue streams to exclude the value of remaining performance obligations for (i) contracts with an original expecte d term of one year or less or (ii) contracts for which we recognize revenue in proportion to the amount we have the right to invoice for services performed.

ACCOUNTS RECEIVABLE - NET

ACCOUNTS RECEIVABLE - NET	3 Months Ended
	Mar. 31, 2018
Accounts Receivable, Net Current [Abstract]
Accounts Receivable - Net	Note 7 . Accounts Receivabl e - Net March 31, December 31, 2018 2017 Trade $ 8,975 $ 9,068 Less - Allowance for doubtful accounts (197) (202) $ 8,778 $ 8,866 Trade receivables include $1,667 million and $1,853 million of unbilled balances under long-term contracts as of March 31, 2018 and December 31, 2017 . These amounts are billed in accordance with the terms of the customer contracts to which they relate.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2018
Inventories [Abstract]
Inventories	Note 8 . Inventories March 31, December 31, 2018 2017 Raw materials $ 1,216 $ 1,193 Work in process 827 790 Finished products 2,761 2,669 4,804 4,652 Reduction to LIFO cost basis (38) (39) $ 4,766 $ 4,613

LONG-TERM DEBT AND CREDIT AGREE

LONG-TERM DEBT AND CREDIT AGREEMENTS	3 Months Ended
	Mar. 31, 2018
Long Term Debt and Credit Agreements [Abstract]
Long-term Debt	Note 9 . Long-term De bt and Credit Agreements March 31, December 31, 2018 2017 Two year floating rate Euro notes due 2018 $ - $ 1,199 1.40% notes due 2019 1,250 1,250 Three year floating rate notes due 2019 250 250 Two year floating rate notes due 2019 450 450 1.80% notes due 2019 750 750 0.65% Euro notes due 2020 1,232 1,199 4.25% notes due 2021 800 800 1.85% notes due 2021 1,500 1,500 1.30% Euro notes due 2023 1,539 1,499 3.35% notes due 2023 300 300 2.50% notes due 2026 1,500 1,500 2.25% Euro notes due 2028 924 900 5.70% notes due 2036 441 441 5.70% notes due 2037 462 462 5.375% notes due 2041 417 417 3.812% notes due 2047 445 445 Industrial development bond obligations, floating rate maturing at various dates through 2037 22 22 6.625% debentures due 2028 201 201 9.065% debentures due 2033 51 51 Other (including capitalized leases and debt issuance costs), 5.2% weighted average maturing at various dates through 2025 347 288 12,881 13,924 Less: current portion (143) (1,351) $ 12,738 $ 12,573 O n January 29, 2018, the Company completed an exchange offer for any and all of its outstanding 3.812% Notes due 2047, which had not been registered ( “Unregistered Notes”) under the Sec urities Act of 1933, as amended (“Securities Act”) for an equal principal amount of new 3.812% Notes due 2047 which had been registered under the Securities Act (“Registered Notes”). 99.4 % of the Unregistered Notes were exchanged for Registered Notes, representing 99.4 % of the principal amount of the Company’s outstanding 3.812% Notes due 2047. O n February 22, 2018, the Company paid its T wo year floating rate Euro notes . On February 16, 2018, the Company entered into a $ 1.5 billion 364-Day Credit Agreement (Second 364-Day Credit Agreement) with a syndicate of banks. The Second 364-Day Credit Agreement is maintained for general corporate purposes. As of March 31, 2018, there are no outstanding borrowings under any of our credit agreements.

FINANCIAL INSTRUMENTS AND FAIR

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES	3 Months Ended
	Mar. 31, 2018
Financial Instruments And Fair Value Measures [Abstract]
Financial Instruments and Fair Value Measures	Note 10 . Financial Instruments and Fair Value Measures Our credit, market, foreign currency and interest rate risk management policies are described in Note 14 , Financial Instruments and Fair Value Measures of Notes to Consolidated Financial Statements in our 2017 Annual Report on Form 10-K. The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis: March 31, December 31, 2018 2017 Assets: Foreign currency exchange contracts $ 15 $ 17 Available for sale investments 2,542 3,916 Interest rate swap agreements $ 24 $ 44 Liabilities: Foreign currency exchange contracts $ 107 $ 70 Interest rate swap agreements 79 52 Cross currency swap agreements $ 66 $ - The foreign currency exchange contracts, interest rate swap agreements, and cross currency swap agreements are valued using broker quotations, or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are classified within level 2. The Company also holds investments in commercial paper, certificates of deposits, and time deposits that are designated as available for sale and are valued using published prices based off observable market data. As such, these investments are classified within level 2. The Company also holds available for sale investments in U.S. government and corporate debt securities valued utilizing published prices based on quoted market pricing, which are classified within level 1. The carrying value of cash and c ash equivalents, trade accounts and notes receivables, payables, commercial paper and short-term borrowings contained in the Consolidated Balance Sheet approximates fair value. The following table sets forth the Company’s financial assets and liabilities that were not carried at fair value: March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Value Value Value Value Assets Long-term receivables $ 336 $ 323 $ 296 $ 289 Liabilities Long-term debt and related current maturities $ 12,881 $ 13,513 $ 13,924 $ 14,695 The Company determined the fair value of the long-term receivables by discounting based upon the terms of the receivable and counterparty details including credit quality. As such, the fair value of these receivables is considered level 2. The Company determined the fair value of the long-term debt and related current maturities utilizing transactions in the listed markets for id entical or similar liabilities. As such, the fair value of the long-term debt and related current maturities is also considere d level 2. Interest rate swap agreements are designated as hedge relationships with gains or losses on the derivative recognized in i nterest and other financial charges offsetting the gains and losses on the underlying debt being hedged. For the three months ended March 31, 2018 and 2017 , we recognized losses of $ 46 million and $ 11 million in earnings on interest rate swap agreements. Gains and losses on the hedging instruments are fully offset by losses and gains on the underlying debt being hedged. We also econo mically hedge our exposure to changes in foreign exchange rates principally with forward contracts. These contracts are marked-to-market with the resulting gains and losses recognized in earnings offsetting the gains and losses on the non-functional curren cy denominated monetary asset s and liabilities being hedged. F or the three months ended March 31, 2018 and 2017 , w e recognized $ 129 million and $ 34 million of expense in O ther (income) expense .

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income Loss [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 11 . Accumulated Other Comprehensive Income (Loss ) Changes in Accumulated Other Comprehensive Income (Loss) by Component Pension Changes in Foreign and Other Fair Value Exchange Postretirement of Effective Translation Benefits Cash Flow Adjustment Adjustments Hedges Total Balance at December 31, 2017 $ (1,981) $ (202) $ (52) $ (2,235) Other comprehensive income (loss) before reclassifications 91 - (32) 59 Amounts reclassified from accumulated other comprehensive income - (16) 18 2 Net current period other comprehensive income (loss) 91 (16) (14) 61 Balance at March 31, 2018 $ (1,890) $ (218) $ (66) $ (2,174) Pension Changes in Foreign and Other Fair Value Exchange Postretirement of Effective Translation Benefits Cash Flow Adjustment Adjustments Hedges Total Balance at December 31, 2016 $ (1,944) $ (879) $ 109 $ (2,714) Other comprehensive income (loss) before reclassifications 248 (46) (13) 189 Amounts reclassified from accumulated other comprehensive income - (14) (23) (37) Net current period other comprehensive income (loss) 248 (60) (36) 152 Balance at March 31, 2017 $ (1,696) $ (939) $ 73 $ (2,562)

SEGMENT FINANCIAL DATA

SEGMENT FINANCIAL DATA	3 Months Ended
	Mar. 31, 2018
Segment Financial Data [Abstract]
Segment Financial Data	Note 12 . Segment Financial Data We globally manage our business operations through four reportable operating segments. Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions and assesses operating performance. Honeywell’s senior management evaluates segment performan ce based on segment profit. Each s egment ’s profit is measured as segment income (loss) before taxes excluding general corporate unallocated expense, interest and other financial charges, stock compensation expense, pension and other postretirement income ( expense) , repositioning and other charges , and other items within Other ( income ) expense. Three Months Ended March 31, Net Sales 2018 2017 Aerospace Products $ 2,728 $ 2,396 Services 1,249 1,150 Total 3,977 3,546 Home and Building Technologies Products 2,083 1,951 Services 350 318 Total 2,433 2,269 Performance Materials and Technologies Products 2,063 1,940 Services 471 413 Total 2,534 2,353 Safety and Productivity Solutions Products 1,360 1,253 Services 88 71 Total 1,448 1,324 $ 10,392 $ 9,492 Segment Profit Aerospace $ 893 $ 796 Home and Building Technologies 416 377 Performance Materials and Technologies 519 483 Safety and Productivity Solutions 231 194 Corporate (64) (61) Total segment profit 1,995 1,789 Interest and other financial charges (83) (75) Stock compensation expense (a) (52) (50) Pension ongoing income (b) 248 179 Other postretirement income (b) 6 4 Repositioning and other charges (c) (193) (129) Other (d) (12) 6 Income before taxes $ 1,909 $ 1,724 (a) Amounts included in Selling, general and administrative expenses. (b) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (c) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (d) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income of affiliated companies is included in segment profit.

PENSION BENEFITS

PENSION BENEFITS	3 Months Ended
	Mar. 31, 2018
Pension Disclosure Paragraph Details [Abstract]
Pension Benefits	Note 13 . Pension Benefits Net periodic pension benefit costs for our significant defined benefit plans include the following components: Three Months Ended U.S. Plans Non-U.S. Plans March 31, March 31, 2018 2017 2018 2017 Service cost $ 35 $ 43 $ 7 $ 9 Interest cost 143 147 37 35 Expected return on plan assets (357) (315) (115) (99) Amortization of prior service (credit) (11) (11) - - $ (190) $ (136) $ (71) $ (55) In the first quarter of 2018, the asset mix of our U.S. Qualified Pension Plan (the “Plan”) was changed. Fixed income assets were increased to approximately 50 % of the Plan’s total assets and matched with the liability profile of the Plan. The Plan’s remaining assets are comprised of return-seeking assets including, equity securities, private equity investments and real estate investments . We review our asset allocations on a regular basis in order to achieve our long-term investment objectives on a risk adjusted basis .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14 . Commitments and Contingencies Environmental Matters Our environmental matters are described in Note 19 Commitments and Contingencies of Notes to Consolidated Financial Statements in our 2017 Annual Report on Form 10-K. The following table summarizes information concerning our recorded liabilities for environmental costs: December 31, 2017 $ 595 Accruals for environmental matters deemed probable and reasonably estimable 57 Environmental liability payments (23) Other 1 March 31, 2018 $ 630 Environmental liabilities are included in the following balance sheet accounts: March 31, December 31, 2018 2017 Accrued liabilities $ 226 $ 226 Other liabilities 404 369 $ 630 $ 595 We do not currently possess sufficient information to reasonably estimate the amounts of environmental liabilities to be recorded upon future completion of studies, litigation or settlements, and neither the timing nor the amount of the ultimate costs associated with environmental matters can be determined although they could be material to our consolidated results of operations and operating cash flows in the periods recognized or paid. However, considering our past experience and existing reserves, we do not expect that environmental matters will have a material adverse effect on our consolidated financial position. Onondaga Lake, Syracuse, NY —In 2016, we largely completed a dredging/capping remedy of Onondaga Lake pursuant to a consent decree approved by the United States District Court for the Northern District of New York in January 2007. Some additional long-term monitoring and maintenance activities will continue, as required by the consent decree. Honeywell is also conducting remedial investigatio ns and activities at other sites in Syracuse. We have recorded reserves for these investigations and activities where appropriate, consistent with the accounting policy described above. On March 14, 2018 , the United States District Court for the Northern Dist rict of New York entered a consent decree between Honeywell, the United States and the State of New York resolving the federal and state claims for natural resource damages at the Onondaga Lake Superfund Site. Asbestos Matters Honeywell is a defendant in asbestos related personal injury actions related to two predecessor c ompanies: North American Refractories Company (“NARCO”), which was sold in 1986, produced refractory products (bricks and cement used in high temperature applications). Claimants consist largely of individuals who allege exposure to NARCO asbestos-contain ing refractory products in an occupational setting. Bendix Friction Materials (“Bendix”) business, which was sold in 2014, manufactured automotive brake parts that contained chrysotile asbestos in an encapsulated form. Claimants consist largely of indivi duals who allege exposure to asbestos from brakes from either performing or being in the vicinity of individuals who performed brake replacements. The following tables summarize information concerning NARCO and Bendix asbestos related balances: Asbestos Related Liabilities Bendix NARCO Total December 31, 2017 $ 616 $ 907 $ 1,523 Accrual for update to estimated liability 47 8 55 Asbestos related liability payments (48) (2) (50) March 31, 2018 $ 615 $ 913 $ 1,528 Insurance Recoveries for Asbestos Related Liabilities Bendix NARCO Total December 31, 2017 $ 123 $ 312 $ 435 Probable insurance recoveries related to estimated liability 4 - 4 Insurance receipts for asbestos related liabilities (10) (1) (11) March 31, 2018 $ 117 $ 311 $ 428 NARCO and Bendix asbestos related balances are included in the following balance sheet accounts: March 31, December 31, 2018 2017 Other current assets $ 24 $ 24 Insurance recoveries for asbestos related liabilities 404 411 $ 428 $ 435 Accrued liabilities $ 350 $ 350 Asbestos related liabilities 1,178 1,173 $ 1,528 $ 1,523 NARCO Products – In connection with NARCO’s emergence from bankruptcy on April 30, 2013, a federally authorized 524(g) trust (NARCO Trust) was established for the evaluation and resolution of all existing and future NARCO asbestos claims. Both Honeywell and NARCO are protected by a permanen t channeling injunction barring all present and future individual actions in state or federal courts and requiring all asbestos related claims based on exposure to NARCO asbestos-containing products to be made against the NARCO Trust. The NARCO Trust revie ws submitted claims and determines award amounts in accordance with established Trust Distribution Procedures approved by the Bankruptcy Court which set forth the criteria claimants must meet to qualify for compensation including, among other things, expos ure and medical criteria that determine the award amount. In addition, Honeywell provided, and continues to provide, input to the design of control procedures for processing NARCO claims, and has on-going audit rights to review and monitor the claims proce ssor’s adherence to the established requirements of the Trust Distribution Procedures. Honeywell is obligated to fund NARCO asbestos claims submitted to the NARCO Trust which qualify for payment under the Trust Distribution Procedures (Annual Contribution Claims), subject to annual caps of $ 140 million in 2018 and $ 145 million for each year thereafter. However, the initial $ 100 million of claims processed through the NARCO Trust (the Initial Claims Amount) will not count against the annual cap and any unuse d portion of the Initial Claims Amount will roll over to subsequent years until fully utilized. In 2015, Honeywell filed suit against the NARCO Trust in Bankruptcy Court alleging breach of certain provisions of the Trust Agreement and Trust Distribution Pr ocedures. The parties agreed to dismiss the proceeding without prejudice pursuant to an 18 month Standstill Agreement. Claims processing continued during this period as the parties attempted to resolve disputed issues. The Standstill Agreement expired on October 12, 2017. Notwithstanding its expiration, claims processing continues, and Honeywell continues to negotiate and attempt to resolve remaining disputed issues (that is instances where Honeywell believes the Trust is not processing claims in accorda nce with established Trust Distribution Procedures). Honeywell reserves its right to seek judicial intervention should negotiations fail or prove futile. As of March 31, 201 8 , Honeywell has not made any payments to the NARCO Trust for Annual Contribution Claims. Honeywell is also responsible for payments due to claimants pursuant to settlement agreements reached during the pendency of the NARCO bankruptcy proceedings that provide for the right to submit claims to the NARCO Trust subject to qualification u nder the terms of the settlement agreements and Trust Distribution Procedures criteria (Pre-established Unliquidated Claims), which amounts are estimated at $ 150 million and are expected to be paid during the initial years of trust operations ($ 5 million o f which has been paid since the effective date of the NARCO Trust). Such payments are not subject to the annual cap described above. Our consolidated financial statements reflect an estimated liability for Pre-established Unliquidated Claims ($ 145 mill ion), as well as unsettled claims pending as of the time NARCO filed for bankruptcy protection and operating and legal costs related to the Trust (collectively $ 25 million) and for the estimated value of future NARCO asbestos claims expected to be asserted against the NARCO Trust ($743 million). The estimate of future NARCO claims was prepared in 2002, in the same year NARCO filed for bankruptcy protection, using NARCO tort system litigation experience based on a commonly accepted methodology used by numero us bankruptcy courts addressing 524(g) trusts. Accordingly, the estimated value of future NARCO asbestos claims was prepared before there was data on claims filings and payment rates in the NARCO Trust under the Trust Distribution Procedures and also prepa red when the stay of all NARCO asbestos claims was in effect (which remained in effect until NARCO emerged from Bankruptcy protection). Some critical assumptions underlying this commonly accepted methodology included claims filing rates, disease criteria and payment values contained in the Trust Distribution Procedures, estimated approval rates of claims submitted to the NARCO Trust and epidemiological studies estimating disease instances. The estimated value of the future NARCO liability reflects claims e xpected to be asserted against NARCO over a fifteen year period. This projection resulted in a range of estimated liability of $ 743 million to $ 961 million. We believe that no amount within this range is a better estimate than any other amount and accordin gly, we have recorded the minimum amount in the range. Given the Trust’s lack of sufficient claims processing experience since NARCO emerged from bankruptcy protection, it is not yet possible to reliably estimate future claim costs based on actual Trust e xperience. Our insurance receivable corresponding to the estimated liability for pending and future NARCO asbestos claims reflects coverage which reimburses Honeywell for portions of NARCO-related indemnity and defense costs and is provided by a large numb er of insurance policies written by dozens of insurance companies in both the domestic insurance market and the London excess market. We conduct analyses to estimate the probable amount of insurance that is recoverable for asbestos claims. While the substa ntial majority of our insurance carriers are solvent, some of our individual carriers are insolvent, which has been considered in our analysis of probable recoveries. We made judgments concerning insurance coverage that we believe are reasonable and consis tent with our historical dealings and our knowledge of any pertinent solvency issues surrounding insurers. Projecting future events is subject to many uncertainties that could cause the NARCO-related asbestos liabilities or assets to be higher or lower tha n those projected and recorded. Given the uncertainties, we review our estimates periodically, and update them based on our experience and other relevant factors. Similarly, we will reevaluate our projections concerning our probable insurance recoveries in light of any changes to the projected liability or other developments that may impact insurance recoveries. Bendix Products —The following tables present information regarding Bendix related asbestos claims activity: Three Months Ended Years Ended March 31, December 31, Claims Activity 2018 2017 2016 Claims unresolved at the beginning of period 6,280 7,724 7,779 Claims filed 625 2,645 2,830 Claims resolved (685) (4,089) (2,885) Claims unresolved at the end of period 6,220 6,280 7,724 Disease Distribution of Unresolved Claims March 31, December 31, 2018 2017 2016 Mesothelioma and other cancer claims 2,981 3,062 3,490 Nonmalignant claims 3,239 3,218 4,234 Total claims 6,220 6,280 7,724 Honeywell has experienced average resolution values per claim excluding legal costs as follows: Years Ended December 31, 2017 2016 2015 2014 2013 (in whole dollars) Malignant claims $ 56,000 $ 44,000 $ 44,000 $ 53,500 $ 51,000 Nonmalignant claims $ 2,800 $ 4,485 $ 100 $ 120 $ 850 It is not possible to predict whether resolution values for Bendix-related asbestos claims will increase, decrease or stabilize in the future. Our consolidated financial statements reflect an estimated liability for resolution of pending (claims actually filed as of the financial statement date) and future Bendix-related asbestos claims. We have valued Bendix pending and future claims using average resolution values for the previous five years. We update the resolution values used to estimate the cost of Bendix pending and future claims during the fourth quarter each year. The liability for future claims represents the estimated value of future asbestos related bodily injury claims expected to be asserted against Bendix over the next five years. Such estim ated cost of future Bendix-related asbestos claims is based on historic claims filing experience and dismissal rates, disease classifications, and resolution values in the tort system for the previous five years. In light of the uncertainties inherent in making long-term projections, as well as certain factors unique to friction product asbestos claims, we do not believe that we have a reasonable basis for estimating asbestos claims beyond the next five years. The methodology used to estimate the liability for future claims is similar to that used to estimate the liability for future NARCO-related asbestos claims. Our insurance receivable corresponding to the liability for settlement of pending and future Bendix asbestos claims reflects coverage which is pr ovided by a large number of insurance policies written by dozens of insurance companies in both the domestic insurance market and the London excess market. Based on our ongoing analysis of the probable insurance recovery, insurance receivables are recorded in the financial statements simultaneous with the recording of the estimated liability for the underlying asbestos claims. This determination is based on our analysis of the underlying insurance policies, our historical experience with our insurers, our ongoing review of the solvency of our insurers, judicial determinations relevant to our insurance programs, and our consideration of the impacts of any settlements reached with our insurers. Honeywell believes it has sufficient insurance coverage and res erves to cover all pending Bendix-related asbestos claims and Bendix-related asbestos claims estimated to be filed within the next five years. Although it is impossible to predict the outcome of either pending or future Bendix-related asbestos claims, we d o not believe that such claims would have a material adverse effect on our consolidated financial position in light of our insurance coverage and our prior experience in resolving such claims. If the rate and types of claims filed, the average resolution v alue of such claims and the period of time over which claim settlements are paid (collectively, the Variable Claims Factors) do not substantially change, Honeywell would not expect future Bendix-related asbestos claims to have a material adverse effect on our results of operations or operating cash flows in any fiscal year. No assurances can be given, however, that the Variable Claims Factors will not change . Other Matters We are subject to a number of other lawsuits, investigations and disputes (some of wh ich involve substantial amounts claimed) arising out of the conduct of our business, including matters relating to commercial transactions, government contracts, product liability, prior acquisitions and divestitures, employee benefit plans, intellectual p roperty, and environmental, health and safety matters. We recognize a liability for any contingency that is probable of occurrence and reasonably estimable. We continually assess the likelihood of adverse judgments of outcomes in these matters, as well as potential ranges of possible losses (taking into consideration any insurance recoveries), based on a careful analysis of each matter with the assistance of outside legal counsel and, if applicable, other experts. Included in these other matters are the fol lowing: Honeywell v. United Auto Workers (UAW) et. al — In September 2011, the UAW and certain Honeywell retirees (Plaintiffs) filed a suit in the Eastern District of Michigan (the District Court) alleging that a series of Master Collective Bargaining Agree ments (MCBAs) between Honeywell and the UAW provided the retirees with rights to lifetime, vested healthcare benefits that could never be changed or reduced. Plaintiffs alleged that Honeywell had violated those vested rights by implementing express limita tions (CAPS) on the amount Honeywell contributed toward healthcare coverage for the retirees. Honeywell subsequently answered the UAW’s complaint and asserted counterclaims, including for breach of implied warranty. Between 2014 and 2015, Honeywell began enforcing the CAPS against former employees. In response, the UAW and certain of the Plaintiffs filed a motio n seeking a ruling that the MCBAs do not limit Honeywell’s obligation to contribute to healthcare coverage for those retirees. On March 29, 2018 , the District Court issued its opinion resolving all pending summary judgment motions, except for Honeywell’s counterclaim for breach of implied warranty which remains outstanding. In the opinion, the District Court held that the MCBAs do not promise r etirees vested, lifetime benefits that survive expiration of the MCBAs. Based on this ruling, Honeywell has informed the UAW and the retirees that it intends to terminate their healthcare coverage benefits altogether as of July 31, 2018. However, the District Court also held that Honeywell is obligated under the MCBAs to pay the “full premium” for retiree healthcare rather than the capped amount. Based on this ruling, Honeywell would be required to pay monetary damages to retirees for any past years i n which Honeywell paid less than the “full premium” of their healthcare coverage. Such damages would be limited, depending on the retiree group, to a two to three year period ending when the 2017 MCBA went into effect, and Honeywell would have no ongoing obligation to continue funding healthcare coverage for subsequent periods. Honeywell has appealed the District Court’s ruling on this “full premium” damages issue, and it is confident that the Sixth Circuit Court of Appeals will reverse the District Court on that issue. I n the event the Sixth Circuit were to sustain the District Court’s ruling on this issue, Honeywell would be liable for damages of at least $ 12 million. Given the uncertainty inherent in litigation and investigations (including the specif ic matter referenced above), we do not believe it is possible to develop estimates of reasonably possible loss in excess of current accruals for these matters (other than as specifically set forth above). Considering our past experience and existing accrua ls, we do not expect the outcome of these matters, either individually or in the aggregate, to have a material adverse effect on our consolidated financial position. Because most contingencies are resolved over long periods of time, potential liabilities a re subject to change due to new developments, changes in settlement strategy or the impact of evidentiary requirements, which could cause us to pay damage awards or settlements (or become subject to equitable remedies) that could have a material adverse ef fect on our results of operations or operating cash flows in the periods recognized or paid.

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Reclassifications	Reclassifications – Certain prior year amounts have been reclassified to conform to the current year presentation.
Sales Recognition	Sales Recognition —Product and service sales are recognized when or as we transfer control of the promised products or services to our customer. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Service sales, principally representing repair, maintenance and engineering activities are recognized over the contractual period or as services are rendered. Sales under long-term contracts with performance obligations satisfied over time are recognized using either an input or output method. We recognize revenue over time as we perform on these contracts because of the continuous transfer of control to the customer. With control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. We generally use the cost-to-cost in put method of progress for our contracts because it best depicts the transfer of control to the customer that occurs as we incur costs. Under the cost-to-cost method, the extent of progress towards completion is measured based on the proportion of costs in curred to date to the total estimated costs at completion of the performance obligation. Provisions for anticipated losses on long-term contracts are recorded in full when such losses become evident, to the extent required. The customer funding for costs i ncurred for nonrecurring engineering and development activities of our products under agreements with commercial customers is deferred and subsequently recognized as revenue as products are delivered to the customers. Additionally, expenses incurred, up to the customer agreed funded amount, are deferred as an asset and recognized as cost of sales when products are delivered to the customer. The deferred customer funding and costs result in recognition of deferred costs (asset) and deferred revenue (liabilit y) on our Consolidated Balance Sheet. Revenues for our mechanical service programs are recognized as performance obligations are satisfied over time, with recognition reflecting a series of distinct services using the output method. The terms of a contract or the historical business practice can give rise to variable consideration due to, but not limited to, cash-based incentives, rebates, performance awards, or credits. We estimate variable consideration at the most likely amount we will receive from custo mers. We include estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized for such transaction will not occur , or when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all information (historical, current and forecasted) that is reasonably available to us.
Aerospace Sales Incentives	Aerospace Sales Incentives — We provide sales incentives to commercial aircraft manufacturers and airlines in connection with their selection of our aircraft equipment, predominately wheel and braking system hardware, avionics, and auxiliary power units, for installation on commercial aircraft. These incentives consist of free or deeply discounted products, credits for future purchases of product or upfront cash payments. These costs are generally recognized in the peri od incurred as cost of products sold or as a reduction to relevant sales, as appropriate.
Pension Benefits	Pension Benefits — On Januar y 1, 2018, we retrospectively adopted the new accounting guidance on presentation of n et periodic pension cost s. That guidance req uires that we disaggregate the service cost component of net benefit cost s and report those costs in the same line item or items in the Consolidated Statement of O perations as other compensation costs arising from services rendered by the pertinent employees during the period . The other non-service components of net benefit cost s are required to be presented separately from the service cost component . Following the adoption of this guidance, w e continue to record the service cost component of Pension ongoing (incom e) expense in Costs of products and services sold and Selling, general and administrative expenses . The remaining components of net benefit costs within P ension ongoing (income) expense , primarily in terest costs and assumed return on plan assets, are now r ecorded in Other (income) expense. We will continue to recognize net actuarial gains or losses in excess of 10% of the greater of the fair value of plan assets or the plans’ projected benefit obligation (the corridor) annually in the fourth quarter each ye ar (MTM Adjustment) . The MTM Adjustment will also be reported in Other (income) expense.
Recent Accounting Pronouncements	Recent Accounting Pronouncements — We consider 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 our consolidated result of operations, financial position and cash flows (Consolidated Financial Statements) . In Feb ruary 2016, the FASB issued guidance on accounting for leases which requires lessees to recognize most leases on their balance sheets for the rights and obligations created by those leases. The guidance requires enhanced disclosures regarding the amount, t iming, and uncertainty of cash flows arising from leases that will be effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted. We expect to adopt the requirements of the new standard effective January 1, 20 19. The guidance requires the use of a modified retrospective approach. We are currently evaluating our lease portfolio to assess the impact to the Consolidated Financial Statements as well as planning for adoption and implementation of this standard, whi ch includes assessing the impact on information systems and internal controls. In August 2017, the FASB issued amendments to hedge accounting guidance. These amendments are intended to better align a company's risk management strategies and financial reporting for hedging relationships. Under the new guidance, more hedging strategies will be eligible for hedge accounting and the application of hedge accounting is simplified. In addition, the new guidance amends presentation and disclosure requirements . The guidance is effective for fiscal years beginning after December 15, 2018 with early a doption permitted, including for interim periods within those years. The guidance requires the use of a modified retrospective approach. We are currently evaluating the impact of the guidance on our consolidated financial statements and whether we will early adopt this guidance . In February 2018, the FASB issued guidance that allows for an entity to elect to reclassify the income tax effects on items within accumulat ed other comprehensive income resulting from U.S. tax reform to retained earnings . The guidance is effective for fiscal years beginning after December 15, 2018 with early adoption permitted, including interim periods within those years. We are currently evaluating the impact of this standard on our Consolidated Financial Statements and whether we will make the allowed election.

REPOSITIONING AND OTHER CHARG21

REPOSITIONING AND OTHER CHARGES (Tables)	3 Months Ended
	Mar. 31, 2018
Repositioning And Other Charges [Abstract]
Repositioning and other charges	A summary of repositioning and other charges follows: Three Months Ended March 31, 2018 2017 Severance $ 31 $ 20 Asset impairments 47 2 Exit costs 8 1 Reserve adjustments (1) 6 Total net repositioning charge 85 29 Asbestos related litigation charges, net of insurance 51 50 Probable and reasonably estimable environmental liabilities 57 50 Total net repositioning and other charges $ 193 $ 129
Pretax distribution of total net repositioning and other charges by income statement classification	The following table summarizes the pretax distribution of total net repositioning and other charges by income statement classification: Three Months Ended March 31, 2018 2017 Cost of products and services sold $ 130 $ 136 Selling, general and administrative expenses 22 (7) Other (income) expense 41 - $ 193 $ 129
Pretax Impact of Total Net Repositioning and Other Charges by Segment	The following table summarizes the pretax impact of total net repositioning and other charges by segment: Three Months Ended March 31, 2018 2017 Aerospace $ 70 $ 73 Home and Building Technologies 4 (1) Performance Materials and Technologies 4 3 Safety and Productivity Solutions 7 (4) Corporate 108 58 $ 193 $ 129
Total Repositioning Reserves	The following table summarizes the status of our total repositioning reserves: Severance Asset Exit Costs Impairments Costs Total December 31, 2017 $ 442 $ - $ 71 $ 513 Charges 31 47 8 86 Usage - cash (62) - (17) (79) Usage - noncash - (47) - (47) Foreign currency translation 7 - - 7 Adjustments (2) - 1 (1) March 31, 2018 $ 416 $ - $ 63 $ 479

OTHER (INCOME) EXPENSE (Tables)

OTHER (INCOME) EXPENSE (Tables)	3 Months Ended
	Mar. 31, 2018
Other (Income) Expense [Abstract]
Other (income) expense [Table Text Block]	Three Months Ended March 31, 2018 2017 Interest income $ (50) $ (31) Pension ongoing income – non-service (304) (242) Other postretirement income – non-service (6) (4) Equity income of affiliated companies (11) (6) Foreign exchange (1) 20 Separation costs 55 - Other (net) 49 5 $ (268) $ (258)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings per share basic	Three Months Ended March 31, Basic 2018 2017 Net income attributable to Honeywell $ 1,438 $ 1,326 Weighted average shares outstanding 750.6 763.1 Earnings per share of common stock $ 1.92 $ 1.74
Earnings per share diluted	Three Months Ended March 31, Assuming Dilution 2018 2017 Net income attributable to Honeywell $ 1,438 $ 1,326 Average Shares Weighted average shares outstanding 750.6 763.1 Dilutive securities issuable - stock plans 10.4 10.8 Total weighted average shares outstanding 761.0 773.9 Earnings per share of common stock - assuming dilution $ 1.89 $ 1.71

REVENUE RECOGNITION AND CONTR24

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Schedule Of New Accounting Pronouncements And Changes In Accounting Principles [Text Block]	New Balance at Revenue Balance at December 31, Standard January 1, 2017 Adjustment 2018 ASSETS Current assets: Accounts receivable - net $ 8,866 $ (149) $ 8,717 Inventories 4,613 (10) 4,603 Deferred income taxes 236 40 276 Other assets 3,372 1,082 4,454 LIABILITIES Current liabilities: Accrued liabilities 6,584 (48) 6,536 Deferred income taxes 2,894 1 2,895 Other liabilities 5,930 1,084 7,014 SHAREOWNERS' EQUITY Retained earnings 28,255 (75) 28,180 Noncontrolling interest $ 163 $ 1 $ 164
Disaggregation Of Revenue [Table Text Block]	Three Months Ended March 31, 2018 Aerospace Commercial Original Equipment $ 695 Commercial Aftermarket 1,268 Defense Services 1,086 Transportation Systems 928 3,977 Home and Building Technologies Products and Software 519 Distribution (ADI) 638 Connected Buildings 209 Building Solutions 562 Building Products 505 2,433 Performance Materials and Technologies UOP 612 Process Solutions 894 Smart Energy 320 Specialty Products 277 Fluorine Products 431 2,534 Safety and Productivity Solutions Safety and Retail 551 Productivity Products 329 Warehouse and Workflow Solutions 367 Sensing & Internet-of-Things (IoT) 201 1,448 $ 10,392 Three Months Ended March 31, 2018 Products, transferred point in time 69 % Products, transferred over time 10 Net product sales 79 Services, transferred point in time 7 Services, transferred over time 14 Net service sales 21 Net sales 100 %
Contract With Customer Asset And Liability [Table Text Block]	2018 Contract assets - January 1 $ 1,721 Contract assets - March 31 1,672 Change in contract assets - increase (decrease) $ (49) Contract liabilities - January 1 $ (2,973) Contract liabilities - March 31 (3,081) Change in contract liabilities - (increase) decrease $ (108) Net change $ (157)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Table Text Block]	March 31, 2018 Aerospace $ 8,257 Home and Building Technologies 6,176 Performance Materials and Technologies 7,072 Safety and Productivity Solutions 1,764 $ 23,269

ACCOUNTS RECEIVABLE - NET (Tabl

ACCOUNTS RECEIVABLE - NET (Tables)	3 Months Ended
	Mar. 31, 2018
Accounts Receivable, Net Current [Abstract]
Schedule of Accounts Receivables	March 31, December 31, 2018 2017 Trade $ 8,975 $ 9,068 Less - Allowance for doubtful accounts (197) (202) $ 8,778 $ 8,866

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2018
Inventories [Abstract]
Inventories	March 31, December 31, 2018 2017 Raw materials $ 1,216 $ 1,193 Work in process 827 790 Finished products 2,761 2,669 4,804 4,652 Reduction to LIFO cost basis (38) (39) $ 4,766 $ 4,613

LONG-TERM DEBT AND CREDIT AGR27

LONG-TERM DEBT AND CREDIT AGREEMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
Long Term Debt and Credit Agreements [Abstract]
Long-Term Debt	March 31, December 31, 2018 2017 Two year floating rate Euro notes due 2018 $ - $ 1,199 1.40% notes due 2019 1,250 1,250 Three year floating rate notes due 2019 250 250 Two year floating rate notes due 2019 450 450 1.80% notes due 2019 750 750 0.65% Euro notes due 2020 1,232 1,199 4.25% notes due 2021 800 800 1.85% notes due 2021 1,500 1,500 1.30% Euro notes due 2023 1,539 1,499 3.35% notes due 2023 300 300 2.50% notes due 2026 1,500 1,500 2.25% Euro notes due 2028 924 900 5.70% notes due 2036 441 441 5.70% notes due 2037 462 462 5.375% notes due 2041 417 417 3.812% notes due 2047 445 445 Industrial development bond obligations, floating rate maturing at various dates through 2037 22 22 6.625% debentures due 2028 201 201 9.065% debentures due 2033 51 51 Other (including capitalized leases and debt issuance costs), 5.2% weighted average maturing at various dates through 2025 347 288 12,881 13,924 Less: current portion (143) (1,351) $ 12,738 $ 12,573

FINANCIAL INSTRUMENTS AND FAI28

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES (Tables)	3 Months Ended
	Mar. 31, 2018
Financial Instruments And Fair Value Measures [Abstract]
Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis Table Text Block	March 31, December 31, 2018 2017 Assets: Foreign currency exchange contracts $ 15 $ 17 Available for sale investments 2,542 3,916 Interest rate swap agreements $ 24 $ 44 Liabilities: Foreign currency exchange contracts $ 107 $ 70 Interest rate swap agreements 79 52 Cross currency swap agreements $ 66 $ -
Financial assets and liabilities that were not carried at fair value	March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Value Value Value Value Assets Long-term receivables $ 336 $ 323 $ 296 $ 289 Liabilities Long-term debt and related current maturities $ 12,881 $ 13,513 $ 13,924 $ 14,695

ACCUMULATED OTHER COMPREHENSI29

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Abstract]
Changes in Accumulated Other Comprehensive Income by Component	Pension Changes in Foreign and Other Fair Value Exchange Postretirement of Effective Translation Benefits Cash Flow Adjustment Adjustments Hedges Total Balance at December 31, 2017 $ (1,981) $ (202) $ (52) $ (2,235) Other comprehensive income (loss) before reclassifications 91 - (32) 59 Amounts reclassified from accumulated other comprehensive income - (16) 18 2 Net current period other comprehensive income (loss) 91 (16) (14) 61 Balance at March 31, 2018 $ (1,890) $ (218) $ (66) $ (2,174) Pension Changes in Foreign and Other Fair Value Exchange Postretirement of Effective Translation Benefits Cash Flow Adjustment Adjustments Hedges Total Balance at December 31, 2016 $ (1,944) $ (879) $ 109 $ (2,714) Other comprehensive income (loss) before reclassifications 248 (46) (13) 189 Amounts reclassified from accumulated other comprehensive income - (14) (23) (37) Net current period other comprehensive income (loss) 248 (60) (36) 152 Balance at March 31, 2017 $ (1,696) $ (939) $ 73 $ (2,562)

SEGMENT FINANCIAL DATA (Tables)

SEGMENT FINANCIAL DATA (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Financial Data [Abstract]
Segment Financial Data	Three Months Ended March 31, Net Sales 2018 2017 Aerospace Products $ 2,728 $ 2,396 Services 1,249 1,150 Total 3,977 3,546 Home and Building Technologies Products 2,083 1,951 Services 350 318 Total 2,433 2,269 Performance Materials and Technologies Products 2,063 1,940 Services 471 413 Total 2,534 2,353 Safety and Productivity Solutions Products 1,360 1,253 Services 88 71 Total 1,448 1,324 $ 10,392 $ 9,492 Segment Profit Aerospace $ 893 $ 796 Home and Building Technologies 416 377 Performance Materials and Technologies 519 483 Safety and Productivity Solutions 231 194 Corporate (64) (61) Total segment profit 1,995 1,789 Interest and other financial charges (83) (75) Stock compensation expense (a) (52) (50) Pension ongoing income (b) 248 179 Other postretirement income (b) 6 4 Repositioning and other charges (c) (193) (129) Other (d) (12) 6 Income before taxes $ 1,909 $ 1,724 (a) Amounts included in Selling, general and administrative expenses. (b) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (c) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (d) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income of affiliated companies is included in segment profit.
Reconciliation of Operating Profit Loss From Segments to Consolidated	Three Months Ended March 31, Net Sales 2018 2017 Aerospace Products $ 2,728 $ 2,396 Services 1,249 1,150 Total 3,977 3,546 Home and Building Technologies Products 2,083 1,951 Services 350 318 Total 2,433 2,269 Performance Materials and Technologies Products 2,063 1,940 Services 471 413 Total 2,534 2,353 Safety and Productivity Solutions Products 1,360 1,253 Services 88 71 Total 1,448 1,324 $ 10,392 $ 9,492 Segment Profit Aerospace $ 893 $ 796 Home and Building Technologies 416 377 Performance Materials and Technologies 519 483 Safety and Productivity Solutions 231 194 Corporate (64) (61) Total segment profit 1,995 1,789 Interest and other financial charges (83) (75) Stock compensation expense (a) (52) (50) Pension ongoing income (b) 248 179 Other postretirement income (b) 6 4 Repositioning and other charges (c) (193) (129) Other (d) (12) 6 Income before taxes $ 1,909 $ 1,724 (a) Amounts included in Selling, general and administrative expenses. (b) Amounts included in Cost of products and services sold and Selling, general and administrative expenses (service costs) and Other income/expense (non-service cost components). (c) Amounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other income/expense. (d) Amounts include the other components of Other income/expense not included within other categories in this reconciliation. Equity income of affiliated companies is included in segment profit.

PENSION BENEFITS (Tables)

PENSION BENEFITS (Tables)	3 Months Ended
	Mar. 31, 2018
Pension Benefits (Tables) [Abstract]
Defined Benefit Plans Disclosure	Three Months Ended U.S. Plans Non-U.S. Plans March 31, March 31, 2018 2017 2018 2017 Service cost $ 35 $ 43 $ 7 $ 9 Interest cost 143 147 37 35 Expected return on plan assets (357) (315) (115) (99) Amortization of prior service (credit) (11) (11) - - $ (190) $ (136) $ (71) $ (55)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Loss Contingency	December 31, 2017 $ 595 Accruals for environmental matters deemed probable and reasonably estimable 57 Environmental liability payments (23) Other 1 March 31, 2018 $ 630
Environmental liabilities are included in the following balance sheet accounts:	Environmental liabilities are included in the following balance sheet accounts: March 31, December 31, 2018 2017 Accrued liabilities $ 226 $ 226 Other liabilities 404 369 $ 630 $ 595
Asbestos Related Liabilities	Asbestos Related Liabilities Bendix NARCO Total December 31, 2017 $ 616 $ 907 $ 1,523 Accrual for update to estimated liability 47 8 55 Asbestos related liability payments (48) (2) (50) March 31, 2018 $ 615 $ 913 $ 1,528
Insurance Recoveries for Asbestos Related Liabilities	Insurance Recoveries for Asbestos Related Liabilities Bendix NARCO Total December 31, 2017 $ 123 $ 312 $ 435 Probable insurance recoveries related to estimated liability 4 - 4 Insurance receipts for asbestos related liabilities (10) (1) (11) March 31, 2018 $ 117 $ 311 $ 428
NARCO and Bendix asbestos related balances are included in the following balance sheet accounts	NARCO and Bendix asbestos related balances are included in the following balance sheet accounts: March 31, December 31, 2018 2017 Other current assets $ 24 $ 24 Insurance recoveries for asbestos related liabilities 404 411 $ 428 $ 435 Accrued liabilities $ 350 $ 350 Asbestos related liabilities 1,178 1,173 $ 1,528 $ 1,523
The following tables present information regarding Bendix related asbestos claims activity	Three Months Ended Years Ended March 31, December 31, Claims Activity 2018 2017 2016 Claims unresolved at the beginning of period 6,280 7,724 7,779 Claims filed 625 2,645 2,830 Claims resolved (685) (4,089) (2,885) Claims unresolved at the end of period 6,220 6,280 7,724
Disease distribution of claims	Disease Distribution of Unresolved Claims March 31, December 31, 2018 2017 2016 Mesothelioma and other cancer claims 2,981 3,062 3,490 Nonmalignant claims 3,239 3,218 4,234 Total claims 6,220 6,280 7,724
Average resolution values per asbestos claim	Honeywell has experienced average resolution values per claim excluding legal costs as follows: Years Ended December 31, 2017 2016 2015 2014 2013 (in whole dollars) Malignant claims $ 56,000 $ 44,000 $ 44,000 $ 53,500 $ 51,000 Nonmalignant claims $ 2,800 $ 4,485 $ 100 $ 120 $ 850

REPOSITIONING AND OTHER CHARG33

REPOSITIONING AND OTHER CHARGES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Component Of Operating Other Cost And Expense [Line Items]
Total net repositioning charge	$ 85	$ 29
Asbestos related litigation charges, net of insurance	51	50
Probable and reasonably estimable environmental liabilities	57	50
Total net repositioning and other charges	193	129
Severance Costs [Member]
Component Of Operating Other Cost And Expense [Line Items]
Total net repositioning charge	31	20
Tangible And Intangible Asset Impairment [Member]
Component Of Operating Other Cost And Expense [Line Items]
Total net repositioning charge	47	2
Exit Costs [Member]
Component Of Operating Other Cost And Expense [Line Items]
Total net repositioning charge	8	1
Restructuring Reserve Accrual Adjustments [Member]
Component Of Operating Other Cost And Expense [Line Items]
Total net repositioning charge	$ (1)	$ 6

REPOSITIONING AND OTHER CHARG34

REPOSITIONING AND OTHER CHARGES 2 (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pretax Distribution Of Total Net Repositioning And Other Charges By Income Statement Classification [Line Items]
Total net repositioning charges	$ 193,000,000	$ 129,000,000
Cost of products and services sold [Member]
Pretax Distribution Of Total Net Repositioning And Other Charges By Income Statement Classification [Line Items]
Total net repositioning charges	130,000,000	136,000,000
Selling, general and administrative expenses [Member]
Pretax Distribution Of Total Net Repositioning And Other Charges By Income Statement Classification [Line Items]
Total net repositioning charges	22,000,000	(7,000,000)
Other (income) expense
Pretax Distribution Of Total Net Repositioning And Other Charges By Income Statement Classification [Line Items]
Total net repositioning charges	$ 41,000,000	$ 0

REPOSITIONING AND OTHER CHARG35

REPOSITIONING AND OTHER CHARGES 3 (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pretax Impact Of Total Net Repositioning And Other Charges By Segment [Line Items]
Total net repositioning charges	$ 193	$ 129
Corporate [Member]
Pretax Impact Of Total Net Repositioning And Other Charges By Segment [Line Items]
Total net repositioning charges	108	58
Aerospace [Member]
Pretax Impact Of Total Net Repositioning And Other Charges By Segment [Line Items]
Total net repositioning charges	70	73
Performance Materials And Technologies [Member]
Pretax Impact Of Total Net Repositioning And Other Charges By Segment [Line Items]
Total net repositioning charges	4	3
Home And Building Technologies [Member]
Pretax Impact Of Total Net Repositioning And Other Charges By Segment [Line Items]
Total net repositioning charges	4	(1)
Safety And Productivity Solutions [Member]
Pretax Impact Of Total Net Repositioning And Other Charges By Segment [Line Items]
Total net repositioning charges	$ 7	$ (4)

REPOSITIONING AND OTHER CHARG36

REPOSITIONING AND OTHER CHARGES 4 (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)Employees	Mar. 31, 2017USD ($)Employees
Net Repositioning And Other Charges [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 85	$ 29
Net repositioning and other charges Paragraph Details [Abstract]
Gross Repositioning Charge	$ 86	$ 23
Number of employees severed | Employees	1,153	622
Severance Costs [Member]
Net Repositioning And Other Charges [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 31	$ 20
Tangible And Intangible Asset Impairment [Member]
Net Repositioning And Other Charges [Line Items]
Restructuring and Related Cost, Incurred Cost	47	2
Exit Costs [Member]
Net Repositioning And Other Charges [Line Items]
Restructuring and Related Cost, Incurred Cost	8	1
Restructuring Reserve Accrual Adjustments [Member]
Net Repositioning And Other Charges [Line Items]
Restructuring and Related Cost, Incurred Cost	$ (1)	$ 6

REPOSITIONING AND OTHER CHARG37

REPOSITIONING AND OTHER CHARGES 5 (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Restructuring Reserve [Line Items]
Balance at beginning of period,	$ 513,000,000
Charges	86,000,000
Usage - cash	(79,000,000)
Usage - noncash	(47,000,000)
Foreign currency translation adjustment	7,000,000
Adjustments	(1,000,000)
Balance at end of period,	479,000,000
Severance Costs [Member]
Restructuring Reserve [Line Items]
Balance at beginning of period,	442,000,000
Charges	31,000,000
Usage - cash	(62,000,000)
Usage - noncash	0
Foreign currency translation adjustment	7,000,000
Adjustments	(2,000,000)
Balance at end of period,	416,000,000
Tangible And Intangible Asset Impairment [Member]
Restructuring Reserve [Line Items]
Balance at beginning of period,	0
Charges	47,000,000
Usage - cash	0
Usage - noncash	(47,000,000)
Foreign currency translation adjustment	0
Adjustments	0
Balance at end of period,	0
Exit Costs [Member]
Restructuring Reserve [Line Items]
Balance at beginning of period,	71,000,000
Charges	8,000,000
Usage - cash	(17,000,000)
Usage - noncash	0
Foreign currency translation adjustment	0
Adjustments	1,000,000
Balance at end of period,	$ 63,000,000

OTHER (INCOME) EXPENSE (Details

OTHER (INCOME) EXPENSE (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Income and Expenses [Line Items]
Interest Income	$ (50,000,000)	$ (31,000,000)
Equity income of affiliated companies	(11,000,000)	(6,000,000)
Foreign exchange	(1,000,000)	20,000,000
Separation Costs	55,000,000	0
Other, net	49,000,000	5,000,000
Other (Income) Expense, Total	(268,000,000)	(258,000,000)
Pension Plans, Defined Benefit [Member]
Other Income and Expenses [Line Items]
Ongoing income - non-service	(304,000,000)	(242,000,000)
Other Postretirement Benefit Plans, Defined Benefit [Member]
Other Income and Expenses [Line Items]
Ongoing income - non-service	$ (6,000,000)	$ (4,000,000)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net income attributable to Honeywell	$ 1,438	$ 1,326
Weighted average shares outstanding	750.6	763.1
Earnings per share of common stock - basic	$ 1.92	$ 1.74
Assuming dilution
Net income attributable to Honeywell	$ 1,438	$ 1,326
Average shares
Weighted average shares outstanding	750.6	763.1
Dilutive securities issuable - stock plans	10.4	10.8
Total weighted average diluted shares outstanding	761	773.9
Earnings per share of common stock - assuming dilution	$ 1.89	$ 1.71
Earnings Per Share Paragraph Details [Abstract]
Stock options excluded from diluted computations	1.1	2.1
Shares outstanding	746.9	762.3
Common Stock Shares Issued	957.6	957.6

REVENUE RECOGNITION AND CONTR40

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
Current assets:
Accounts receivable - net	$ 8,778			$ 8,866
Inventories	4,766			4,613
Deferred income taxes	402			236
Other assets	4,753			3,372
Current liabilities:
Accrued liabilities	6,565			6,968
Deferred income taxes	2,782			2,894
Other liabilities	7,221			5,930
SHAREOWNERS' EQUITY
Retained earnings	29,395			28,255
Noncontrolling interest	179			163
Revenue From Contract With Customers Adoption Paragraph Details [Abstract]
Revenues	10,392	$ 9,492
Accounting Standards Update 2014-09 [Member]
Current assets:
Accounts receivable - net			$ 8,717
Inventories			4,603
Deferred income taxes			276
Other assets			4,454
Current liabilities:
Accrued liabilities			6,536
Deferred income taxes			2,895
Other liabilities			7,014
SHAREOWNERS' EQUITY
Retained earnings			28,180
Noncontrolling interest			164
Calculated Under Revenue Guidance In Effect Before Topic 606 [Member] | Accounting Standards Update 2014-09 [Member]
Current assets:
Accounts receivable - net				8,866
Inventories				4,613
Deferred income taxes				236
Other assets				3,372
Current liabilities:
Accrued liabilities				6,584
Deferred income taxes				2,894
Other liabilities				5,930
SHAREOWNERS' EQUITY
Retained earnings				28,255
Noncontrolling interest				$ 163
Difference Between Revenue Guidance In Effect Before And After Topic 606 [Member] | Accounting Standards Update 2014-09 [Member]
Current assets:
Accounts receivable - net			(149)
Inventories			(10)
Deferred income taxes			40
Other assets			1,082
Current liabilities:
Accrued liabilities			(48)
Deferred income taxes			1
Other liabilities			1,084
SHAREOWNERS' EQUITY
Retained earnings			(75)
Noncontrolling interest			$ 1
Revenue From Contract With Customers Adoption Paragraph Details [Abstract]
Revenues	$ (120)

REVENUE RECOGNITION AND CONTR41

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS 2 (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Disaggregation Of Revenue [Line Items]
Revenue	$ 10,392
Disaggregation of revenue, timing of recognition - percentage	100.00%
Products [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue, timing of recognition - percentage	79.00%
Products [Member] | Transferred At Point In Time [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue, timing of recognition - percentage	69.00%
Products [Member] | Transferred Over Time [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue, timing of recognition - percentage	10.00%
Services [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue, timing of recognition - percentage	21.00%
Services [Member] | Transferred At Point In Time [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue, timing of recognition - percentage	7.00%
Services [Member] | Transferred Over Time [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue, timing of recognition - percentage	14.00%
Aerospace [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 3,977
Aerospace [Member] | Commercial Original Equipment [Member]
Disaggregation Of Revenue [Line Items]
Revenue	695
Aerospace [Member] | Commercial Aftermarket [Member]
Disaggregation Of Revenue [Line Items]
Revenue	1,268
Aerospace [Member] | Defense Services [Member]
Disaggregation Of Revenue [Line Items]
Revenue	1,086
Aerospace [Member] | Transportation Systems [Member]
Disaggregation Of Revenue [Line Items]
Revenue	928
Home And Building Technologies [Member]
Disaggregation Of Revenue [Line Items]
Revenue	2,433
Home And Building Technologies [Member] | Products And Software [Member]
Disaggregation Of Revenue [Line Items]
Revenue	519
Home And Building Technologies [Member] | Distribution (ADI)
Disaggregation Of Revenue [Line Items]
Revenue	638
Home And Building Technologies [Member] | Building Solutions [Member]
Disaggregation Of Revenue [Line Items]
Revenue	562
Home And Building Technologies [Member] | Building Products [Member]
Disaggregation Of Revenue [Line Items]
Revenue	505
Performance Materials And Technologies [Member]
Disaggregation Of Revenue [Line Items]
Revenue	2,534
Performance Materials And Technologies [Member] | UOP [Member]
Disaggregation Of Revenue [Line Items]
Revenue	612
Performance Materials And Technologies [Member] | Process Solutions [Member]
Disaggregation Of Revenue [Line Items]
Revenue	894
Performance Materials And Technologies [Member] | Smart Energy [Member]
Disaggregation Of Revenue [Line Items]
Revenue	320
Performance Materials And Technologies [Member] | Specialty Products [Member]
Disaggregation Of Revenue [Line Items]
Revenue	277
Performance Materials And Technologies [Member] | Fluorine Products [Member]
Disaggregation Of Revenue [Line Items]
Revenue	431
Safety And Productivity Solutions [Member]
Disaggregation Of Revenue [Line Items]
Revenue	1,448
Safety And Productivity Solutions [Member] | Safety and Retail [Member]
Disaggregation Of Revenue [Line Items]
Revenue	551
Safety And Productivity Solutions [Member] | Productivity Products [Member]
Disaggregation Of Revenue [Line Items]
Revenue	329
Safety And Productivity Solutions [Member] | Warehouse and Workflow Solutions [Member]
Disaggregation Of Revenue [Line Items]
Revenue	367
Safety And Productivity Solutions [Member] | Sensing & Internet-of-Things (IoT)
Disaggregation Of Revenue [Line Items]
Revenue	$ 201

REVENUE RECOGNITION AND CONTR42

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS 3 (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Jan. 01, 2018
Change in Contract with Customer, Asset and Liability [Abstract]
Contract Assets	$ 1,672	$ 1,721
Change in Contract Assets - Increase (Decrease)	(49)
Contract Liabilities	(3,081)	$ (2,973)
Change in Contract Liabilities - (Increase) Decrease	(108)
Net Change	(157)
Contract liability, revenue recognized	$ 581

REVENUE RECOGNITION AND CONTR43

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS 4 (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Revenue Performance Obligation [Abstract]
Revenue Performance Obligation Description Of Timing	Performance obligations recognized as of March 31, 2018 will be satisfied over the course of future periods. Our 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 58% and 42%.
Revenue Performance Obligation Description Of Payment Terms	The timing of satisfaction of our performance obligations does not significantly vary from the typical timing of payment. Typical payment terms of our fixed-price over time contracts include progress payments based on specified events or milestones, or based on project progress. For some contracts we may be entitled to receive an advance payment.
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligation, amount	$ 23,269
Within One Year [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligation, percentage	58.00%
Greater Than One Year [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligation, percentage	42.00%
Aerospace [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligation, amount	$ 8,257
Home And Building Technologies [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligation, amount	6,176
Performance Materials And Technologies [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligation, amount	7,072
Safety And Productivity Solutions [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligation, amount	$ 1,764

ACCOUNTS RECEIVABLE - NET (Deta

ACCOUNTS RECEIVABLE - NET (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Accounts Receivable, Net Current [Abstract]
Trade	$ 8,975	$ 9,068
Less - Allowance for doubtful accounts	(197)	(202)
Accounts receivable, Net	8,778	8,866
Accounts Notes And Other Receivables Paragraph Details [Abstract]
Unbilled contract receivable	$ 1,667	$ 1,853

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Inventory Combining Work In Process And Raw Materials Alternative Gross Abstract
Raw materials	$ 1,216	$ 1,193
Work in process	827	790
Finished products	2,761	2,669
Inventory, Gross	4,804	4,652
Reduction to LIFO cost basis	(38)	(39)
Inventories	$ 4,766	$ 4,613

LONG-TERM DEBT AND CREDIT AGR46

LONG-TERM DEBT AND CREDIT AGREEMENTS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total long-term debt, including current portion	$ 12,881,000,000	$ 13,924,000,000
Less current portion	(143,000,000)	(1,351,000,000)
Total Noncurrent Debt	12,738,000,000	12,573,000,000
Two Year Floating rate Euro notes due 2018 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 0	1,199,000,000
Maturity date of debt instrument	Feb. 22, 2018
1.40% notes due 2019 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 1,250,000,000	1,250,000,000
Various interest rates	1.40%
Maturity date of debt instrument	Oct. 30, 2019
Three year floating rate notes due 2019 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 250,000,000	250,000,000
Maturity date of debt instrument	Oct. 30, 2019
Two Year Floating Rate Notes Due 2019 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 450,000,000	450,000,000
Maturity date of debt instrument	Oct. 30, 2019
1.80% notes due 2019 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 750,000,000	750,000,000
Various interest rates	1.80%
Maturity date of debt instrument	Oct. 30, 2019
0.65% Euro notes due 2020 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 1,232,000,000	1,199,000,000
Various interest rates	0.65%
Maturity date of debt instrument	Feb. 21, 2020
4.25% notes due 2021 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 800,000,000	800,000,000
Various interest rates	4.25%
Maturity date of debt instrument	Mar. 1, 2021
1.85% notes due 2021 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 1,500,000,000	1,500,000,000
Various interest rates	1.85%
Maturity date of debt instrument	Nov. 1, 2021
1.30% Euro notes due 2023 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 1,539,000,000	1,499,000,000
Various interest rates	1.30%
Maturity date of debt instrument	Feb. 22, 2023
3.35% notes due 2023 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 300,000,000	300,000,000
Various interest rates	3.35%
Maturity date of debt instrument	Dec. 1, 2023
2.50% notes due 2026 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 1,500,000,000	1,500,000,000
Various interest rates	2.50%
Maturity date of debt instrument	Nov. 1, 2026
2.25% Euro notes due 2028 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 924,000,000	900,000,000
Various interest rates	2.25%
Maturity date of debt instrument	Feb. 22, 2028
5.70% notes due 2036 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 441,000,000	441,000,000
Various interest rates	5.70%
Maturity date of debt instrument	Mar. 15, 2036
5.70% notes due 2037 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 462,000,000	462,000,000
Various interest rates	5.70%
Maturity date of debt instrument	Mar. 13, 2037
5.375% notes due 2041 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 417,000,000	417,000,000
Various interest rates	5.375%
Maturity date of debt instrument	Mar. 1, 2041
3.812% notes due 2047 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 445,000,000	445,000,000
Various interest rates	3.812%
Maturity date of debt instrument	Nov. 21, 2047
Debt Instrument Description	On January 29, 2018, the Company completed an exchange offer for any and all of its outstanding 3.812% Notes due 2047, which had not been registered (“Unregistered Notes”) under the Securities Act of 1933, as amended (“Securities Act”) for an equal principal amount of new 3.812% Notes due 2047 which had been registered under the Securities Act (“Registered Notes”). 99.4% of the Unregistered Notes were exchanged for Registered Notes, representing 99.4% of the principal amount of the Company’s outstanding 3.812% Notes due 2047.
Exchange date of debt	Jan. 29, 2018
Principal amount of outstanding 3.812% Notes exchanged, percent	99.40%
Industrial development bond obligations, floating rate maturing at various dates through 2037 [Member]
Debt Instrument [Line Items]
Industrial development bond	$ 22,000,000	22,000,000
Maturity date of debt instrument	Dec. 31, 2037
6.625% debentures due 2028 [Member]
Debt Instrument [Line Items]
Debentures	$ 201,000,000	201,000,000
Various interest rates	6.625%
Maturity date of debt instrument	Jun. 15, 2028
9.065% debentures due 2033 [Member]
Debt Instrument [Line Items]
Debentures	$ 51,000,000	51,000,000
Various interest rates	9.065%
Maturity date of debt instrument	Jun. 1, 2033
Other (including capitalized leases and debt issuance costs), 5.2% weighted average maturing at various dates through 2025 [Member]
Debt Instrument [Line Items]
Other long term debt	$ 347,000,000	$ 288,000,000
Maturity date of debt instrument	Dec. 31, 2025
Weighted average interest rate	5.20%
Syndicate Of Banks [Member] | $1.5B Second 364-Day Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Facility initiation date	Feb. 16, 2018
Facility expiration date	Feb. 15, 2019
Line of credit facility, current borrowing capacity	$ 1,500,000,000
Line of credit facility, remaining borrowing capacity	$ 1,500,000,000

FINANCIAL INSTRUMENTS AND FAI47

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES (Details) - Fair Value Measurements Recurring [Member] - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Significant Observable Inputs (Level 2) | Foreign currency exchange contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Fair Value Of Derivative Asset	$ 15,000,000	$ 17,000,000
Derivative Fair Value Of Derivative Liability	107,000,000	70,000,000
Significant Observable Inputs (Level 2) | Interest rate swap agreements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Fair Value Of Derivative Asset	24,000,000	44,000,000
Derivative Fair Value Of Derivative Liability	79,000,000	52,000,000
Significant Observable Inputs (Level 2) | Cross currency swap agreements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Fair Value Of Derivative Liability	66,000,000	0
Fair Value Inputs Level 1 And Level 2 [Member] | Available for sale investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investments	$ 2,542,000,000	$ 3,916,000,000

FINANCIAL INSTRUMENTS AND FAI48

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES 2 (Details) - Significant Observable Inputs (Level 2) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Carrying Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term receivables	$ 336	$ 296
Long-term debt and related current maturities	12,881	13,924
Estimated Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term receivables	323	289
Long-term debt and related current maturities	$ 13,513	$ 14,695

FINANCIAL INSTRUMENTS AND FAI49

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES 3 (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flow Hedge Gain Loss Reclassified To Income Statement Locations Paragraph Details [Abstract]
Gain (loss) on interest rate swap agreements	$ (46)	$ (11)
Foreign Exchange Mark to Market income (expense)	$ (129)	$ (34)

ACCUMULATED OTHER COMPREHENSI50

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income Loss [Line Items]
Balance beginning of period December 31,	$ (2,235,000,000)	$ (2,714,000,000)
Other comprehensive income (loss) before reclassifications	59,000,000	189,000,000
Amounts reclassified from accumulated other comprehensive income	2,000,000	(37,000,000)
Net current period other comprehensive income (loss)	61,000,000	152,000,000
Balance end of period	(2,174,000,000)	(2,562,000,000)
Foreign Exchange Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance beginning of period December 31,	(1,981,000,000)	(1,944,000,000)
Other comprehensive income (loss) before reclassifications	91,000,000	248,000,000
Amounts reclassified from accumulated other comprehensive income	0	0
Net current period other comprehensive income (loss)	91,000,000	248,000,000
Balance end of period	(1,890,000,000)	(1,696,000,000)
Pension and Other Postretirement Benefits Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance beginning of period December 31,	(202,000,000)	(879,000,000)
Other comprehensive income (loss) before reclassifications	0	(46,000,000)
Amounts reclassified from accumulated other comprehensive income	(16,000,000)	(14,000,000)
Net current period other comprehensive income (loss)	(16,000,000)	(60,000,000)
Balance end of period	(218,000,000)	(939,000,000)
Changes in Fair Value of Effective Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance beginning of period December 31,	(52,000,000)	109,000,000
Other comprehensive income (loss) before reclassifications	(32,000,000)	(13,000,000)
Amounts reclassified from accumulated other comprehensive income	18,000,000	(23,000,000)
Net current period other comprehensive income (loss)	(14,000,000)	(36,000,000)
Balance end of period	$ (66,000,000)	$ 73,000,000

SEGMENT FINANCIAL DATA (Details

SEGMENT FINANCIAL DATA (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Product sales	$ 8,234	$ 7,540
Service sales	2,158	1,952
Net sales	10,392	9,492
Total segment profit	1,995	1,789
Corporate Non Segment [Member]
Segment Reporting Information [Line Items]
Total segment profit	(64)	(61)
Aerospace [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Product sales	2,728	2,396
Service sales	1,249	1,150
Net sales	3,977	3,546
Total segment profit	893	796
Performance Materials And Technologies [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Product sales	2,063	1,940
Service sales	471	413
Net sales	2,534	2,353
Total segment profit	519	483
Home And Building Technologies [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Product sales	2,083	1,951
Service sales	350	318
Net sales	2,433	2,269
Total segment profit	416	377
Safety And Productivity Solutions [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Product sales	1,360	1,253
Service sales	88	71
Net sales	1,448	1,324
Total segment profit	$ 231	$ 194

SEGMENT FINANCIAL DATA 2 (Detai

SEGMENT FINANCIAL DATA 2 (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reconciliation of segment profit to consolidated [Abstract]
Total segment profit	$ 1,995	$ 1,789
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Interest and other financial charges	(83)	(75)
Repositioning and other charges	(193)	(129)
Income before taxes	1,909	1,724
Material Reconciling Items [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Interest and other financial charges	(83)	(75)
Stock compensation expense	(52)	(50)
Repositioning and other charges	(193)	(129)
Other	(12)	6
Income before taxes	1,909	1,724
Material Reconciling Items [Member] | Pension Plans, Defined Benefit [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Pension ongoing income (expense)	248	179
Material Reconciling Items [Member] | Other Postretirement Benefit Plans [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Pension ongoing income (expense)	6	4
Corporate [Member]
Reconciliation of segment profit to consolidated [Abstract]
Total segment profit	(64)	(61)
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Repositioning and other charges	$ (108)	$ (58)

PENSION BENEFITS (Details)

PENSION BENEFITS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Percentage of fixed income assets to total Pension Plan assets	50.00%
United States, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 35,000,000	$ 43,000,000
Interest cost	143,000,000	147,000,000
Expected return on plan assets	(357,000,000)	(315,000,000)
Amortization of prior service (credit)	(11,000,000)	(11,000,000)
Net periodic benefit (income)	(190,000,000)	(136,000,000)
Non-US, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	7,000,000	9,000,000
Interest cost	37,000,000	35,000,000
Expected return on plan assets	(115,000,000)	(99,000,000)
Amortization of prior service (credit)	0	0
Net periodic benefit (income)	$ (71,000,000)	$ (55,000,000)

COMMITMENTS AND CONTINGENCIES54

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Accrual For Environmental Loss Contingencies [RollForward]
Beginning of period	$ 595
Accruals for environmental matters deemed probable and reasonably estimable	57
Environmental liability payments	(23)
Other	1
End of period	630
Loss Contingency Classification of Accrual [Abstract]
Accrued liabilities		$ 226	$ 226
Other liabilities		404	369
Total environmental liabilities	$ 630	$ 630	$ 595

COMMITMENTS AND CONTINGENCIES 2

COMMITMENTS AND CONTINGENCIES 2 (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Asbestos Related Liabilities [Member]
Asbestos Related Liabilities Disclosure [Abstract]
Asbestos Related Liabilities, Beginning of Period	$ 1,523,000,000
Accrual for update to estimated liability	55,000,000
Asbestos related liability payments	(50,000,000)
Asbestos Related Liabilities, End of Period	1,528,000,000
Asbestos Related Liabilities Insurance Recoveries [Line Items]
Insurance Recoveries, beginning of period	435,000,000
Probable insurance recoveries related to estimated liability	4,000,000
Insurance receipts for asbestos related liabilities	(11,000,000)
Insurance recoveries, end of period	428,000,000
Bendix Asbestos Loss Contingency Liability [Member]
Asbestos Related Liabilities Disclosure [Abstract]
Asbestos Related Liabilities, Beginning of Period	616,000,000
Accrual for update to estimated liability	47,000,000
Asbestos related liability payments	(48,000,000)
Asbestos Related Liabilities, End of Period	615,000,000
Asbestos Related Liabilities Insurance Recoveries [Line Items]
Insurance Recoveries, beginning of period	123,000,000
Probable insurance recoveries related to estimated liability	4,000,000
Insurance receipts for asbestos related liabilities	(10,000,000)
Insurance recoveries, end of period	117,000,000
Narco Asbestos Loss Contingency Liability [Member]
Asbestos Related Liabilities Disclosure [Abstract]
Asbestos Related Liabilities, Beginning of Period	907,000,000
Accrual for update to estimated liability	8,000,000
Asbestos related liability payments	(2,000,000)
Asbestos Related Liabilities, End of Period	913,000,000
Asbestos Related Liabilities Insurance Recoveries [Line Items]
Insurance Recoveries, beginning of period	312,000,000
Probable insurance recoveries related to estimated liability	0
Insurance receipts for asbestos related liabilities	(1,000,000)
Insurance recoveries, end of period	$ 311,000,000

COMMITMENTS AND CONTINGENCIES 3

COMMITMENTS AND CONTINGENCIES 3 (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Loss Contingency, Narco and Bendix Asbestos Related Balances by Balance Sheet Caption [Line Items]
Insurance recoveries for asbestos related liabilities	$ 404	$ 411
Asbestos related liabilities	1,178	1,173
Asbestos Related Liabilities [Member]
Loss Contingency, Narco and Bendix Asbestos Related Balances by Balance Sheet Caption [Line Items]
Other current assets	24	24
Insurance recoveries for asbestos related liabilities	404	411
Total assets	428	435
Accrued liabilities	350	350
Asbestos related liabilities	1,178	1,173
Total liabilities	$ 1,528	$ 1,523

COMMITMENTS AND CONTINGENCIES 4

COMMITMENTS AND CONTINGENCIES 4 (Details) - Narco Asbestos Loss Contingency Liability [Member] $ in Millions	Mar. 31, 2018USD ($)
Loss Contingency By Nature Of Contingency [Line Items]
Loss Contingency Estimated Pre-established Unliquidated Claims Amount	$ 145
Loss Contingency Unsettled Claims Amount	25
Exceptions To Cap [Abstract]
Value Not Included In Cap	100
Estimated value of settlement agreements to be paid during the initial years of trust operations	150
Settlement Payments	5
Minimum Member]
Loss Contingency By Nature Of Contingency [Line Items]
Estimated Liability	743
Maximum [Member]
Loss Contingency By Nature Of Contingency [Line Items]
Estimated Liability	961
Year 2018 [Member]
Loss Contingency By Nature Of Contingency [Line Items]
Annual Trust Cap	140
Year 2019 And Thereafter [Member]
Loss Contingency By Nature Of Contingency [Line Items]
Annual Trust Cap	$ 145

COMMITMENTS AND CONTINGENCIES 5

COMMITMENTS AND CONTINGENCIES 5 (Details) - Bendix Asbestos Loss Contingency Liability [Member] - claims	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Loss Contingency Claims [Abstract]
Claims unresolved at the beginning of period	6,280	7,724	7,779
Claims filed during the period	625	2,645	2,830
Claims resolved during the period	(685)	(4,089)	(2,885)
Claims unresolved at the end of period	6,220	6,280	7,724

COMMITMENTS AND CONTINGENCIES 6

COMMITMENTS AND CONTINGENCIES 6 (Details) - Bendix Asbestos Loss Contingency Liability [Member] - claims	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Loss Contingency Disease Distribution Of Unresolved Claims [Line Items]
Mesothelioma and other cancer claims	2,981	3,062	3,490
Nonmalignant claims	3,239	3,218	4,234
Total claims	6,220	6,280	7,724	7,779

COMMITMENTS AND CONTINGENCIES 7

COMMITMENTS AND CONTINGENCIES 7 (Details) - $ / claims	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Resolution Values Per Claim [Line Items]
Malignant claims	56,000	44,000	44,000	53,500	51,000
Nonmalignant claims	2,800	4,485	100	120	850

COMMITMENTS AND CONTINGENCIES 8

COMMITMENTS AND CONTINGENCIES 8 (Details) - United Auto Workers [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Other Matters Paragraph Details [Line Items]
Actions taken by Honeywell	Honeywell has appealed the District Court’s ruling on this “full premium” damages issue, and it is confident that the Sixth Circuit Court of Appeals will reverse the District Court on that issue.
Minimum Member]
Other Matters Paragraph Details [Line Items]
Loss Contingency Damages Awarded Value	$ 12