Honeywell filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, with the U.S. Securities and Exchange Commission.
As previously disclosed in its January 29, 2026 press release announcing fourth quarter and full year 2025 earnings (the "Earnings Release"), Honeywell classified the Productivity Solutions and Services ("PSS") and Warehouse and Workflow Solutions ("WWS") businesses as assets held for sale during the fourth quarter of 2025. The PSS and WWS businesses are planned for sale as part of Honeywell's ongoing portfolio optimization strategy, allowing Honeywell to focus on its core automation portfolio. In addition, in the Earnings Release, Honeywell announced impairment charges for the PSS and WWS assets held for sale that were reflected in the Company's year-end results.
In connection with Honeywell's ongoing sale process for the businesses, the Company continually evaluates information relevant to the financial analysis associated with the sale as it becomes available. Subsequent to the Earnings Release, the Company received incremental information that resulted in additional impairment charges that are reported in the 2025 Annual Report on Form 10-K that the Company filed on February 17, 2026. The additional impairment charges include, relative to the corresponding impairment charges referenced in the Earnings Release, an incremental goodwill impairment charge of $436 million associated with Honeywell's Industrial Automation reportable segment and an impairment charge on assets held for sale of $35 million, with an offsetting tax benefit of $61 million. Therefore, Honeywell's full-year reported earnings per share from continuing operations was revised to $6.94, net income from continuing operations was revised to $4,468 million, operating income was revised to $5,573 million, and operating margin was revised to 14.9%. However, these incremental charges do not change Honeywell's previously announced adjusted fourth quarter or full-year 2025 results or 2026 guidance, which the Company reaffirms today.
As previously announced, Honeywell continues to expect to announce the sale of the PSS and WWS businesses in the first half of 2026.
