v3.25.4
PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule Of Defined Benefit Plans Disclosure
The following tables summarize the balance sheet impact, including the benefit obligations, assets, and funded status associated with the Company's significant pension and other postretirement benefit plans:
 Pension Benefits
U.S. PlansNon-U.S. Plans
2025202420252024
Change in benefit obligation    
Benefit obligation at beginning of year$11,772 $12,792 $4,161 $4,718 
Service cost27 28 4 12 
Interest cost576 599 179 191 
Plan amendments— — — 14 
Actuarial (gains) losses1
624 (579)45 (393)
Benefits paid(1,114)(1,069)(254)(262)
Settlements and curtailments— — (786)(14)
Foreign currency translation— — 341 (106)
Other— 1 — 1 
Transfers to Solstice
(110)— (67)— 
Benefit obligation at end of year11,775 11,772 3,623 4,161 
Less: Discontinued operations
— 106 — 55 
Benefit obligation - continuing operations
11,775 11,666 3,623 4,106 
Change in plan assets
Fair value of plan assets at beginning of year16,565 16,594 5,105 5,549 
Actual return on plan assets842 1,008 104 (111)
Company contributions30 31 21 29 
Benefits paid(1,114)(1,069)(254)(262)
Settlements and curtailments— — (786)— 
Foreign currency translation— — 380 (101)
Other— 1 (1)1 
Transfers to Solstice(150)— — — 
Fair value of plan assets at end of year16,173 16,565 4,569 5,105 
Less: Discontinued operations
— 149 — 1 
Fair value of plan assets at end of year - continuing operations
16,173 16,416 4,569 5,104 
Funded status of plans - continuing operations
$4,398 $4,750 $946 $998 
Assets (liabilities) recognized in the Consolidated Balance Sheet consist of
Prepaid pension benefit cost2
$4,621 $4,983 $1,321 $1,430 
Accrued pension liabilities—current3
(27)(28)(12)(15)
Accrued pension liabilities—noncurrent4
(196)(205)(363)(417)
Net amount recognized - continuing operations
$4,398 $4,750 $946 $998 
Net amount recognized - discontinued operations
$— $43 $— $(54)
1
The actuarial losses incurred in 2025 related to the Company's U.S. plans are primarily the result of a decrease in the discount rate assumption, as well as changes in the lump sum calculation basis and experience losses used to estimate the benefit obligations as of December 31, 2025, compared to December 31, 2024. Actuarial losses incurred in 2025 related to the Company's non-U.S. plans are primarily the result of the Netherlands plan settlement, as well as experience losses and changes in demographic assumptions, partially offset by an increase in discount rate assumption and inflation related assumptions used to estimate the benefit obligations as of December 31, 2025, compared to December 31, 2024. Actuarial gains incurred in 2024 related to the Company's U.S. plans are primarily the result of an increase in the discount rate assumption, as well as changes in demographic assumptions, partially offset by changes in demographic experience used to estimate the benefit obligations as of December 31, 2024, compared to December 31, 2023. Actuarial gains incurred in 2024 related to the Company's non-U.S. plans are primarily the result of an increase in the discount rate assumption, as well as changes in demographic assumptions, partially offset by inflation related assumptions and changes in demographic experience used to estimate the benefit obligations as of December 31, 2024, compared to December 31, 2023.
2
Included in Other assets in the Consolidated Balance Sheet.
3
Included in Accrued liabilities in the Consolidated Balance Sheet.
4Included in Other liabilities in the Consolidated Balance Sheet.
 Other
Postretirement
Benefits
20252024
Change in benefit obligation
Benefit obligation at beginning of year$98 $116 
Interest cost5 5 
Actuarial (gains) losses9 (7)
Benefits paid(16)(16)
Benefit obligation at end of year96 98 
Change in plan assets
Fair value of plan assets at beginning of year— — 
Actual return on plan assets— — 
Company contributions— — 
Benefits paid— — 
Fair value of plan assets at end of year— — 
Funded status of plans$(96)$(98)
Amounts recognized in the Consolidated Balance Sheet consist of
Accrued liabilities$(11)$(11)
Postretirement benefit obligations other than pensions1
(85)(87)
Net amount recognized$(96)$(98)
1
Excludes non-U.S. plan of $24 million and $25 million as of December 31, 2025, and 2024, respectively.
Schedule Of Other Changes in Plan Assets Recognized in Other Comprehensive Income
Amounts recognized in Accumulated other comprehensive loss associated with the Company's significant pension and other postretirement benefit plans at December 31, 2025, and 2024, are as follows:
 Pension Benefits
U.S. PlansNon-U.S. Plans
2025202420252024
Prior service (credit) cost$— $— $35 $34 
Net actuarial (gain) loss1,613 729 364 315 
Net amount recognized$1,613 $729 $399 $349 
 Other
Postretirement
Benefits
20252024
Prior service (credit) cost$(7)$(18)
Net actuarial (gain) loss(46)(64)
Net amount recognized$(53)$(82)
Schedule Of Net Periodic Benefit Cost
Net periodic benefit (income) cost and other amounts recognized in Other comprehensive (income) loss for the Company's significant pension and other postretirement benefit plans include the following components:
Pension Benefits
U.S. PlansNon-U.S. Plans
202520242023202520242023
Service cost$27 $28 $29 $4 $12 $11 
Interest cost576 599 645 179 191 200 
Expected return on plan assets(1,153)(1,125)(1,111)(279)(301)(274)
Amortization of prior service (credit) cost— (7)(42)2 1 — 
Recognition of actuarial (gains) losses39 — — 124 126 153 
Settlements and curtailments— — — 68 (17)— 
Net periodic benefit (income) cost$(511)$(505)$(479)$98 $12 $90 
Net periodic benefit (income) cost - discontinued operations
$(4)$(5)$(5)$2 $2 $2 
Net periodic benefit (income) cost - continuing operations
(507)(500)(474)96 10 88 
U.S. PlansNon-U.S. Plans
202520242023202520242023
Actuarial (gains) losses$935 $(462)$378 $220 $19 $198 
Prior service (credit) cost— — — — 14 — 
Prior service credit recognized during year— 7 42 (2)2 — 
Actuarial (gains) losses recognized during year(52)— — (199)(126)(153)
Foreign currency translation loss (gain)
— — — 31 (1)17 
Total recognized in Other comprehensive (income) loss$883 $(455)$420 $50 $(92)$62 
Total recognized in net periodic benefit (income) cost and Other comprehensive (income) loss$372 $(960)$(59)$148 $(80)$152 
Other Postretirement Benefits
Years Ended December 31,
202520242023
Interest cost$5 $5 $6 
Amortization of prior service (credit) cost(11)(12)(20)
Recognition of actuarial (gains) losses(10)(11)(13)
Net periodic benefit (income) cost$(16)$(18)$(27)
Years Ended December 31,
202520242023
Actuarial (gains) losses$9 $(7)$3 
Prior service credit recognized during year11 12 20 
Actuarial (gains) losses recognized during year10 11 13 
Total recognized in other comprehensive (income) loss30 16 36 
Total recognized in net periodic benefit (income) cost and Other comprehensive (income) loss$14 $(2)$9 
Schedule Of Assumptions Used in Calculations
Major actuarial assumptions used in determining the benefit obligations and net periodic benefit (income) cost for the Company's significant benefit plans are presented in the following table as weighted averages:
 Pension Benefits
U.S. PlansNon-U.S. Plans
202520242023202520242023
Actuarial assumptions used to determine benefit obligations as of December 31
Discount rate5.25 %5.57 %4.97 %5.22 %4.80 %4.15 %
Expected annual rate of compensation increase3.25 %3.25 %3.25 %2.77 %1.68 %2.68 %
Actuarial assumptions used to determine net periodic benefit (income) cost for years ended December 31
Discount rate—benefit obligation5.57 %4.97 %5.17 %5.09 %4.13 %4.49 %
Discount rate—service cost5.55 %5.06 %5.26 %3.75 %3.38 %3.81 %
Discount rate—interest cost5.28 %4.89 %5.07 %4.86 %4.12 %4.56 %
Expected rate of return on plan assets7.25 %7.00 %6.75 %6.06 %5.48 %5.15 %
Expected annual rate of compensation increase3.25 %3.25 %3.25 %2.90 %2.68 %2.68 %
 Other Postretirement Benefits
202520242023
Actuarial assumptions used to determine benefit obligations as of December 31
Discount rate5.04 %5.42 %5.00 %
Actuarial assumptions used to determine net periodic benefit cost for years ended December 31
Discount rate5.42 %5.00 %5.32 %
Schedule Of Accumulated Benefit Obligations in Excess of Plan Assets
The following amounts relate to the Company's significant pension plans with accumulated benefit obligations exceeding the fair value of plan assets:
 December 31,
U.S. PlansNon-U.S. Plans
2025202420252024
Projected benefit obligation$223 $236 $651 $709 
Accumulated benefit obligation217 228 640 695 
Fair value of plan assets— — 275 222 
Schedule Of Fair Value of Plan Assets
The fair values of both the Company's U.S. and non-U.S. pension plans assets by asset category are as follows:
 U.S. Plans
December 31, 2025
TotalLevel 1Level 2Level 3
Equities
Honeywell common stock$2,400 $2,400 $— $— 
U.S. equities973 973 — — 
Fixed income
Short-term investments871 110 761 — 
Government securities2,054 — 2,054 — 
Corporate bonds5,434 383 5,051 — 
Mortgage/Asset-backed securities722 — 722 — 
Insurance contracts7 — 7 — 
Direct investments
Direct private investments1,478 — — 1,478 
Real estate properties1,001 — — 1,001 
Total$14,940 $3,866 $8,595 $2,479 
Investments measured at NAV
Private funds1,228 
Real estate funds5 
Total assets at fair value$16,173 
 U.S. Plans
December 31, 2024
TotalLevel 1Level 2Level 3
Equities
Honeywell common stock$3,283 $3,283 $— $— 
U.S. equities819 819 — — 
Fixed income
Short-term investments776 83 693 — 
Government securities2,142 — 2,142 — 
Corporate bonds5,104 230 4,874 — 
Mortgage/Asset-backed securities790 — 790 — 
Insurance contracts7 — 7 — 
Direct investments
Direct private investments1,337 — — 1,337 
Real estate properties972 — — 972 
Total$15,230 $4,415 $8,506 $2,309 
Investments measured at NAV
Private funds1,327 
Real estate funds8 
Total assets at fair value$16,565 
 Non-U.S. Plans
December 31, 2025
TotalLevel 1Level 2Level 3
Equities
Non-U.S. equities442 — 442 — 
Fixed income
Short-term investments325 51 274 — 
Government securities986 — 986 — 
Corporate bonds584 — 584 — 
Mortgage/Asset-backed securities9 — 9 — 
Insurance contracts92 — 92 — 
Insurance buy-in contracts1,976 — — 1,976 
Investments in private funds
Private funds154 — — 154 
Total$4,568 $51 $2,387 $2,130 
Investments measured at NAV
Private funds1 
Total assets at fair value$4,569 
 Non-U.S. Plans
December 31, 2024
TotalLevel 1Level 2Level 3
Equities
U.S. equities$209 $— $209 $— 
Non-U.S. equities436 — 436 — 
Fixed income
Short-term investments385 68 317 — 
Government securities1,317 — 1,317 — 
Corporate bonds1,144 — 1,144 — 
Mortgage/Asset-backed securities18 — 18 — 
Insurance contracts90 — 90 — 
Insurance buy-in contracts1,390 — — 1,390 
Investments in private funds
Private funds112 — 34 78 
Real estate funds2 — — 2 
Total$5,103 $68 $3,565 $1,470 
Investments measured at NAV
Private funds1 
Real estate funds1 
Total assets at fair value$5,105 
Schedule Of Changes in Fair Value of Level 3 Plan Assets
The following table summarizes changes in the fair value of level 3 assets for both U.S. and non-U.S. plans:
 U.S. PlansNon-U.S. Plans
Direct Private InvestmentsReal Estate PropertiesPrivate FundsReal Estate FundsInsurance Buy-in Contracts
Balance at December 31, 2023$1,293 $977 $74 $16 $1,605 
Actual return on plan assets
Relating to assets still held at year-end16 (14)7 — (215)
Relating to assets sold during the year61 — (7)— — 
Purchases101 10 19 — — 
Sales and settlements(134)(1)(15)(14)— 
Balance at December 31, 20241,337 972 78 2 1,390 
Actual return on plan assets
Relating to assets still held at year-end41 7 8 — 20 
Relating to assets sold during the year2 6 — — — 
Purchases296 46 84 — 566 
Sales and settlements(198)(30)(16)(2)— 
Balance at December 31, 2025$1,478 $1,001 $154 $— $1,976 
Schedule Of Estimated Future Benefit Payments
Benefit payments, including amounts to be paid from Company assets, and reflecting expected future service, as appropriate, are expected to be paid as follows:
U.S. PlansNon-U.S. Plans
2026$1,261 $254 
20271,191 262 
20281,135 267 
20291,085 268 
20301,043 269 
2031-20354,543 1,373 
Schedule Of Assumed Health Care Cost Trend Rates
 December 31,
20252024
Assumed health care cost trend rate
Health care cost trend rate assumed for next year6.50 %6.50 %
Rate that the cost trend rate gradually declines to5.00 %5.00 %
Year that the rate reaches the rate it is assumed to remain at2031 2031 
Schedule Of Benefit Payments Reflecting Expected Future Service
Benefit payments reflecting expected future service, as appropriate, are expected to be paid as follows:
Without Impact of
Medicare Subsidy		Net of
Medicare Subsidy
2026$11 $11 
202711 10 
202810 10 
202910 9 
20309 9 
2031-203539 37