What was the value of the Friction Materials business sale?

The Friction Materials business was sold for approximately $155 million in a cash transaction.

Which business segments will Honeywell have after the realignment?

Following the realignment, Honeywell will report its financial performance across three business segments: Aerospace, Automation and Control Solutions, and Performance Materials and Technologies.

When will the new segment reporting structure take effect?

The new segment reporting structure will be effective for the reporting of third quarter 2014 results.

Does the realignment of business segments impact previously reported financial statements?

No, the realignment has no impact on the Company's historical consolidated financial position, results of operations or cash flows. However, historical segment results will be made available, recast to conform to the new reporting structure, but this does not represent a restatement of previously issued financial statements.

HON/HONIV 8-K SEC Disclosure

Summary

Honeywell International Inc. announced on July 14, 2014, the completion of the sale of its Friction Materials business to Federal-Mogul Corporation for approximately $155 million in cash. This divestiture marks a strategic move to streamline its business operations and sharpen its focus. Furthermore, Honeywell is realigning its reporting segments. The Transportation Systems business will be integrated into the Aerospace segment, leveraging engineering and technology synergies. This change will result in three primary business segments: Aerospace, Automation and Control Solutions, and Performance Materials and Technologies. This realignment will be effective for the reporting of third quarter 2014 results, with historical segment data to be provided on a comparable basis.

Key Highlights

1Completed the sale of its Friction Materials business for approximately $155 million in cash.
2The buyer of the Friction Materials business is Federal-Mogul Corporation.
3The sale of the Friction Materials business is considered a divestiture.
4Realigning the Transportation Systems business segment into the Aerospace business segment.
5This realignment aims to leverage engineering, technology similarities, and shared business models.
6The company will now report three business segments: Aerospace, Automation and Control Solutions, and Performance Materials and Technologies.
7The new segment reporting structure is effective for the third quarter of 2014.

HONEYWELL INTERNATIONAL INC 8-K Report, Corporate Update (Jul 14, 2014)

Summary

Key Highlights

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