Honeywell International (HON) — capital discipline, read against the 10-Q

Honeywell Internationalreason 03 of 4a reason to hold, not a barrierderived 2026-09-11accession 0000773840-26-000124

In March 2026, the Company commenced a series of debt tender offers and purchased notes for an aggregate principal amount of $7.5 billion

Payments of long-term debt were $13,187 million during the six months ended June 30, 2026

Available liquidity includes $9.2 billion cash and cash equivalents, a $3.0 billion Five-Year Credit Agreement, and a $2.0 billion 364-Day Credit Agreement with no outstanding borrowings

the finding

The Five-Year Credit Agreement reduction to $3.0 billion changed from prospective to completed, consistent with the stated $3.0 billion liquidity component.

The report says this changed. It does not say whether that is good or bad, so neither do we.

before · MD&A · 2026-03-31 → 2026-06-30

“Upon consummation of the spin-off of the Aerospace business, the aggregate revolving credit commitments under the Five-Year Credit Agreement will be reduced to $3.0 billion.”