Summary
Honeywell International Inc. (HON) filed an 8-K on May 29, 2014, to announce a change in its business segment reporting structure. Effective with the quarter ending June 30, 2014, the Honeywell Process Solutions (HPS) business will be moved from the Automation and Control Solutions segment to the Performance Materials and Technologies segment. This organizational change is primarily a reporting realignment and does not impact the company's historical consolidated financial position, results of operations, or cash flows. This filing includes supplemental unaudited historical segment information for various periods presented on a basis consistent with the new reporting structure. Investors should review this recast information, provided as Exhibit 99, in conjunction with HON's previously filed financial statements. The primary implication for investors is enhanced clarity on the performance of HPS within the broader Performance Materials and Technologies segment going forward.
Key Highlights
- 1Honeywell International Inc. is changing its business segment reporting for the Honeywell Process Solutions (HPS) unit.
- 2Effective June 30, 2014, HPS will be reported under the Performance Materials and Technologies segment, moving from Automation and Control Solutions.
- 3This is a reporting and organizational realignment, not a restatement of financial results.
- 4The change has no impact on Honeywell's historical consolidated financial position, results of operations, or cash flows.
- 5The company has provided recast historical segment information to reflect this new structure.
- 6This information is furnished as Exhibit 99 to the 8-K filing.