<PAGE>
________________________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT -- DECEMBER 17, 1999
(DATE OF EARLIEST EVENT REPORTED)
------------------------
HONEYWELL INTERNATIONAL INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
------------------------
<TABLE>
<S> <C> <C>
DELAWARE
(STATE OR OTHER JURISDICTION 22-2640650
OF 1-8974 (I.R.S. EMPLOYER
INCORPORATION) (COMMISSION FILE NUMBER) IDENTIFICATION NUMBER)
</TABLE>
101 COLUMBIA ROAD, P.O. BOX 4000
MORRISTOWN, NEW JERSEY 07962-2497
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (973) 455-2000
________________________________________________________________________________
<PAGE>
ITEM 5. OTHER EVENTS.
Honeywell International Inc. has determined that in the future it will be
reporting its results of operations in the following four reportable segments:
Aerospace Solutions
Automation & Asset Management
Performance Materials
Power & Transportation Products
The following table contains income statement and segment data for
Honeywell International Inc. reflecting the combination of AlliedSignal Inc. and
Honeywell Inc. for all periods presented.
<PAGE>
INCOME STATEMENT DATA FOR HONEYWELL INTERNATIONAL INC.
(AMOUNTS IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
(UNAUDITED)
<TABLE>
<CAPTION>
1999 1998 1997
--------------------------- ----------------------------------------------- -------
FIRST SECOND THIRD FIRST SECOND THIRD FOURTH FULL FIRST
QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER YEAR QUARTER
------- ------- ------- ------- ------- ------- ------- ---- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Sales
Aerospace Solutions............ $2,328 $2,534 $2,527 $2,261 $2,467 $2,515 $2,647 $ 9,890 $1,810
Automation & Asset
Management................... 1,390 1,501 1,559 1,360 1,425 1,487 1,685 5,957 1,253
Performance Materials.......... 983 986 1,027 1,125 1,120 977 947 4,169 1,000
Power & Transportation
Products..................... 859 904 895 782 857 845 903 3,387 912
Corporate...................... 22 33 28 41 35 37 39 152 38
------ ------ ------ ------ ------ ------ ------ ------- ------
Total Sales................ $5,582 $5,958 $6,036 $5,569 $5,904 $5,861 $6,221 $23,555 $5,013
------ ------ ------ ------ ------ ------ ------ ------- ------
------ ------ ------ ------ ------ ------ ------ ------- ------
Operating profit
Aerospace Solutions............ $ 395 $ 475 $ 531 $ 323 $ 351 $ 430 $ 483 $ 1,587 $ 222
Automation & Asset
Management................... 120 161 202 117 154 179 255 705 103
Performance Materials.......... 149 145 88 172 204 141 117 634 129
Power & Transportation
Products..................... 70 83 78 46 67 54 67 234 79
------ ------ ------ ------ ------ ------ ------ ------- ------
Total businesses........... 734 864 899 658 776 804 922 3,160 533
------ ------ ------ ------ ------ ------ ------ ------- ------
Corporate & unallocated........... (43) (54) (33) (51) (54) (54) (89) (248) (43)
Equity in income of affiliated
companies........................ 10 24 20 34 35 18 75 162 42
Interest and other financial
charges.......................... (73) (59) (60) (60) (62) (66) (87) (275) (63)
Other income (expense)............ 18 11 (2) 1 4 (5) 3 3 36
Other*............................ -- 10 (1) -- -- -- (30) (30) --
------ ------ ------ ------ ------ ------ ------ ------- ------
Income before taxes on income..... 646 796 823 582 699 697 794 2,772 505
Taxes on income................... (206) (256) (269) (186) (223) (223) (237) (869) (170)
------ ------ ------ ------ ------ ------ ------ ------- ------
Net income -- reported............ $ 440 $ 540 $ 554 $ 396 $ 476 $ 474 $ 557 $ 1,903 $ 335
------ ------ ------ ------ ------ ------ ------ ------- ------
------ ------ ------ ------ ------ ------ ------ ------- ------
Shares outstanding (assuming
dilution)........................ 807 807 809 818 817 811 811 814 825
------ ------ ------ ------ ------ ------ ------ ------- ------
------ ------ ------ ------ ------ ------ ------ ------- ------
Earnings per share -- reported
(assuming dilution).............. $ 0.55 $ 0.67 $ 0.68 $ 0.48 $ 0.58 $ 0.58 $ 0.69 $ 2.34 $ 0.41
------ ------ ------ ------ ------ ------ ------ ------- ------
------ ------ ------ ------ ------ ------ ------ ------- ------
Other -- after tax*............... $ -- $ 5 $ (6) $ -- $ -- $ -- $ (20) $ (20) $ --
Net income -- adjusted............ $ 440 $ 535 $ 560 $ 396 $ 476 $ 474 $ 577 $ 1,923 $ 335
------ ------ ------ ------ ------ ------ ------ ------- ------
------ ------ ------ ------ ------ ------ ------ ------- ------
Earnings per share -- adjusted
(assuming dilution).............. $ 0.55 $ 0.66 $ 0.69 $ 0.48 $ 0.58 $ 0.58 $ 0.71 $ 2.36 $ 0.41
------ ------ ------ ------ ------ ------ ------ ------- ------
------ ------ ------ ------ ------ ------ ------ ------- ------
Tax rate -- reported.............. 31.9% 32.2% 32.7% 32.0% 31.9% 32.0% 29.8% 31.3% 33.7%
Operating margin
Aerospace Solutions............ 17.0% 18.7% 21.0% 14.3% 14.2% 17.1% 18.2% 16.0% 12.3%
Automation & Asset
Management................... 8.6% 10.7% 13.0% 8.6% 10.8% 12.0% 15.1% 11.8% 8.2%
Performance Materials.......... 15.2% 14.7% 8.6% 15.3% 18.2% 14.4% 12.4% 15.2% 12.9%
Power & Transportation
Products..................... 8.1% 9.2% 8.7% 5.9% 7.8% 6.4% 7.4% 6.9% 8.7%
Total businesses............... 13.1% 14.5% 14.9% 11.8% 13.1% 13.7% 14.8% 13.4% 10.6%
Total Honeywell................ 12.4% 13.6% 14.3% 10.9% 12.2% 12.8% 13.4% 12.4% 9.8%
<CAPTION>
1997
-------------------------------------
SECOND THIRD FOURTH FULL
QUARTER QUARTER QUARTER YEAR
------- ------- ------- ----
<S> <C> <C> <C> <C>
Sales
Aerospace Solutions............ $2,013 $2,177 $2,398 $ 8,398
Automation & Asset
Management................... 1,453 1,500 1,728 5,934
Performance Materials.......... 1,088 1,045 1,115 4,248
Power & Transportation
Products..................... 962 936 959 3,769
Corporate...................... 39 37 36 150
------ ------ ------ -------
Total Sales................ $5,555 $5,695 $6,236 $22,499
------ ------ ------ -------
------ ------ ------ -------
Operating profit
Aerospace Solutions............ $ 261 $ 308 $ 360 $ 1,151
Automation & Asset
Management................... 122 149 236 610
Performance Materials.......... 164 137 111 541
Power & Transportation
Products..................... 90 71 68 308
------ ------ ------ -------
Total businesses........... 637 665 775 2,610
------ ------ ------ -------
Corporate & unallocated........... (41) (37) (46) (167)
Equity in income of affiliated
companies........................ 63 43 56 204
Interest and other financial
charges.......................... (69) (76) (69) (277)
Other income (expense)............ 17 16 18 87
Other*............................ -- -- (38) (38)
------ ------ ------ -------
Income before taxes on income..... 607 611 696 2,419
Taxes on income................... (204) (200) (204) (778)
------ ------ ------ -------
Net income -- reported............ $ 403 $ 411 $ 492 $ 1,641
------ ------ ------ -------
------ ------ ------ -------
Shares outstanding (assuming
dilution)........................ 823 824 817 822
------ ------ ------ -------
------ ------ ------ -------
Earnings per share -- reported
(assuming dilution).............. $ 0.49 $ 0.50 $ 0.60 $ 2.00
------ ------ ------ -------
------ ------ ------ -------
Other -- after tax*............... $ -- $ -- $ (5) $ (5)
Net income -- adjusted............ $ 403 $ 411 $ 497 $ 1,646
------ ------ ------ -------
------ ------ ------ -------
Earnings per share -- adjusted
(assuming dilution).............. $ 0.49 $ 0.50 $ 0.61 $ 2.00
------ ------ ------ -------
------ ------ ------ -------
Tax rate -- reported.............. 33.6% 32.7% 29.3% 32.2%
Operating margin
Aerospace Solutions............ 13.0% 14.1% 15.0% 13.7%
Automation & Asset
Management................... 8.4% 9.9% 13.7% 10.3%
Performance Materials.......... 15.1% 13.1% 10.0% 12.7%
Power & Transportation
Products..................... 9.4% 7.6% 7.1% 8.2%
Total businesses............... 11.5% 11.7% 12.4% 11.6%
Total Honeywell................ 10.7% 11.0% 11.7% 10.9%
</TABLE>
- ------------
* Represents gains on sales of significant business units, our AMP Incorporated
investment and a litigation settlement, and repositioning and other charges.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HONEYWELL INTERNATIONAL INC.
By: /s/ PETER M. KREINDLER
.................................
PETER M. KREINDLER
SENIOR VICE PRESIDENT AND GENERAL
COUNSEL
Date: December 17, 1999
