v3.25.2
DEBT AND CREDIT AGREEMENTS
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
DEBT AND CREDIT AGREEMENTS DEBT AND CREDIT AGREEMENTS
 June 30, 2025December 31, 2024
1.35% notes due 2025
$— $1,250 
2.50% notes due 2026
1,500 1,500 
1.10% notes due 2027
1,000 1,000 
3.50% euro notes due 2027
754 675 
4.65% notes due 2027
1,150 1,150 
4.95% notes due 2028
500 500 
2.25% euro notes due 2028
870 779 
4.25% notes due 2029
750 750 
2.70% notes due 2029
750 750 
4.875% notes due 2029
500 500 
4.70% notes due 2030
1,000 1,000 
3.375% euro notes due 2030
870 779 
1.95% notes due 2030
1,000 1,000 
4.95% notes due 2031
500 500 
1.75% notes due 2031
1,500 1,500 
4.75% notes due 2032
650 650 
0.75% euro notes due 2032
580 519 
3.75% euro notes due 2032
580 519 
5.00% notes due 2033
1,100 1,100 
4.50% notes due 2034
1,000 1,000 
4.125% euro notes due 2034
1,160 1,039 
5.00% notes due 2035
1,450 1,450 
3.75% euro notes due 2036
870 779 
5.70% notes due 2036
441 441 
5.70% notes due 2037
462 462 
5.375% notes due 2041
417 417 
3.812% notes due 2047
442 442 
2.80% notes due 2050
750 750 
5.25% notes due 2054
1,750 1,750 
5.35% notes due 2064
650 650 
4.37% term loan due 2027
1,000 1,000 
One month term SOFR plus 0.875% term loan due 2027
4,000 — 
6.625% debentures due 2028
201 201 
9.065% debentures due 2033
51 51 
Industrial development bond obligations, floating rate maturing at various dates through 2037
22 22 
Other (including finance leases), 3.5% weighted average interest rate maturing at various dates through 2031
408 390 
Fair value of hedging instruments(87)(136)
Debt issuance costs(300)(303)
Total Long-term debt and current related maturities30,241 26,826 
Less: Current maturities of long-term debt74 1,347 
Total Long-term debt$30,167 $25,479 
Commercial Paper and Other Short-Term Borrowings
As of June 30, 2025, the Company had $6.3 billion of Commercial paper and other short-term borrowings outstanding at a weighted average interest rate of 4.09%. As of December 31, 2024, the Company had $4.3 billion of Commercial paper and other short-term borrowings outstanding at a weighted average interest rate of 4.22%.
Term Loan Agreements
On May 7, 2025, the Company entered into a Delayed Draw Term Loan Agreement (the Term Loan Agreement). The Term Loan Agreement provides for a delayed draw term loan facility of an aggregate principal amount of up to $6.0 billion comprised of two tranches: (i) commitments to provide loans in an aggregate principal amount of up to $4.0 billion (Tranche A-1) and (ii) commitments to provide loans in an aggregate amount of up to $2.0 billion (Tranche A-2). On May 30, 2025, the Company borrowed $4.0 billion under Tranche A-1, which remained outstanding as of June 30, 2025. Commitments to provide Tranche A-2 will expire on December 19, 2025. Interest rates on the term loans under each tranche will be based on prevailing market rates, plus a margin, in addition to a commitment fee on unused amounts. Amounts borrowed under the Term Loan Agreement are required to be paid no later than May 7, 2027, unless the Term Loan Agreement is terminated earlier pursuant to its terms. The Term Loan Agreement is maintained for general corporate purposes and provides financial flexibility as the Company manages the separation of its Automation, Aerospace Technologies, and Advanced Materials businesses into three independent public companies.
On July 1, 2025, the Company repaid its €196 million ($230 million) Euro Term Loan Credit Agreement due 2026, which is included within the Other (including financing leases) caption in the table above.
Revolving Credit Agreements
On March 17, 2025, the Company entered into a $3.0 billion 364-day credit agreement (the 364-Day Credit Agreement). The 364-Day Credit Agreement replaced the $1.5 billion 364-day credit agreement dated as of March 18, 2024, which was terminated in accordance with its terms effective March 17, 2025. Amounts borrowed under the 364-Day Credit Agreement are due no later than March 16, 2026, unless (i) Honeywell elects to convert all then outstanding amounts into a term loan, upon which such amounts shall be repaid in full on March 16, 2027, or (ii) the 364-Day Credit Agreement is terminated earlier pursuant to its terms. The 364-Day Credit Agreement is maintained for general corporate purposes.
The Company also maintains a $4.0 billion amended and restated five-year credit agreement dated as of March 18, 2024 (the Five-Year Credit Agreement) for general corporate purposes. Commitments under the Five-Year Credit Agreement can be increased pursuant to the terms of the Five-Year Credit Agreement to an aggregate amount not to exceed $4.5 billion.
As of June 30, 2025, there were no outstanding borrowings under the 364-Day Credit Agreement or the Five-Year Credit Agreement.