As I See It: The people of Benton County deserve leadership that promotes dialogue
Biden will decide on US Steel acquisition after influential panel fails to reach consensusHONEYWELL AND BOMBARDIER SIGN LANDMARK AGREEMENT TO DELIVER THE NEXT GENERATION OF AVIATION TECHNOLOGY; HONEYWELL UPDATES 2024 OUTLOOKNone
HONEYWELL AND BOMBARDIER SIGN LANDMARK AGREEMENT TO DELIVER THE NEXT GENERATION OF AVIATION TECHNOLOGY; HONEYWELL UPDATES 2024 OUTLOOK
Longmont officials gathered at the corner of Fourth Avenue and Kimbark Street Monday morning to celebrate the launch of RIDE Longmont, the city’s new on-demand transit service. “I’m so excited about it,” said Mayor Joan Peck, who rode in one of the new RIDE Longmont vehicles Monday. “It is going to transform our city.” Whether it be to a local restaurant or bus stop, RIDE Longmont offers transportation service anywhere in the city 6 a.m. to 8 p.m. Monday through Saturday, and from 9 a.m. to 5 p.m. on Sunday. During the month of December only, service hours will be extended to midnight on Fridays, Saturdays and New Year’s Eve. Rides are also available to and from the new mobility hub at Interstate 25 and Colo. 119, which is served by Bustang. “This service is a game changer for those who need a more direct, affordable option to get around the city,” Phil Greenwald, Longmont transportation planning manager, said. Greenwald noted how RIDE Longmont is an easy and affordable way to access the existing transit system, get to appointments, meet up with friends at a local eatery, go shopping or get to work and school. Anyone can request a ride by downloading the RIDE Longmont app, which is available in most app stores, and creating an account. From there, riders will enter a pick-up and drop-off address and select a ride option that works best for them. Riders can specify if they need accommodations for a bicycle or wheelchair. The app will tell riders exactly where to meet the vehicle, which may be a short walk away. A ride may also be requested by calling 970-538-9097 and most language preferences can be accommodated Riders must be 13 years of age or older. Children under 13 may still ride but must be accompanied by a parent or guardian. Each ride costs $2. However, students, seniors and people with disabilities can ride for $1 per trip. All rides will be free through Jan. 9. The vehicles are black with green highlights and white RIDE Longmont logos. RIDE Longmont will benefit from $450,000 this year and $350,000 in 2025 and 2026 from RTD. The on-demand transportation service will also receive $1 million worth of federal funding. Councilmember Shiquita Yarbrough, who is the council liaison to the city’s Transportation Advisory Board, said Monday that she’s heard from constituents about the need for more public transportation throughout the city and was hopeful that RIDE Longmont would help fill in those gaps. “This is just the beginning. This is just the start,” Yarbrough said. “It’s here ... RIDE Longmont.”
After receiving funds from the Tata Education Trust (TET), the Tata Institute of Social Sciences (TISS) announced an extension of contracts of 115 teaching and non-teaching contractual employees till March 31, 2025. The contracts of the 50 teaching and 65 non-teaching staffers were set to end on December 31. “If more funds are received (from TET), or the process for funds are streamlined, the contract will further be extended,” TISS’s acting Vice-Chancellor (VC) Manoj Tiwari told the Free Press Journal. “We are working on a long-term solution,” he added. On June 28 this year, TISS had announced the termination of contracts for 55 faculty members and 60 non-teaching staff across its four campuses. The termination letters indicated that their contracts would not be renewed, with their services officially concluding on June 30. However, following concerns raised by students and staff highlighting that many of the affected teachers were involved in project work and teaching across various courses, TET agreed to extend funding for the 115 staff members until December 31. With the deadline nearing, the Progressive Students Forum (PSF), a student organisation at TISS, sought clarity regarding staff employment by submitting a letter to the administration on November 30. In response, TISS confirmed that the contracts for TET staff would be extended until the end of March 2025. “As we welcome this temporary extension, we believe a permanent solution is extremely necessary and urge the TISS administration to devise a long-term plan for the same,” the PSF said in a statement after the contracts of the contractual employees were extended.OrthoPediatrics stock hits 52-week low at $22.39NEW YORK — The man accused of burning a woman to death inside a New York City subway train used a shirt to fan the flames, a prosecutor said Tuesday at his arraignment on murder charges. Sebastian Zapeta, 33, who federal immigration officials said is a Guatemalan citizen who entered the U.S. illegally, was not required to enter a plea and did not speak at the hearing in Brooklyn criminal court. Zapeta, wearing a white jumpsuit over a weathered black hooded sweatshirt, will remain jailed and is due back in court on Friday. His lawyer did not ask for bail. Zapeta is charged with two counts of murder, accusing him of intentionally killing the woman and killing her while committing arson. He is also charged with one count of arson. The top charge carries a maximum sentence of life in prison without parole. Brooklyn District Attorney Eric Gonzalez called the attack a "gruesome and senseless act of violence" and said it would be "met with the most serious consequences." The apparently random attack occurred Sunday morning on an F train that was stopped at the Coney Island station. The victim's identification is still pending. Authorities say Zapeta approached the woman, who may have been sleeping in the train, and set her clothing on fire with a lighter. Zapeta then fanned the flames with a shirt, engulfing her in fire, Assistant District Attorney Ari Rottenberg said in court Tuesday. Zapeta then sat on a bench on the subway platform and watched, Rottenberg said. According to Rottenberg, Zapeta told detectives that he didn't know what happened but identified himself in images of the attack. Zapeta's lawyer, Andrew Friedman, did not speak to reporters after the arraignment. Video on social media appears to show some people looking on from the platform and at least one police officer walking by while the woman is on fire inside the train. NYPD Transit Chief Joseph Gulotta said Sunday that several officers responded to the fire and one stayed to keep the crime scene "the way it's supposed to be" while the others went to get fire extinguishers and transit workers. "Officers who were on patrol on an upper level of that station smelled and saw smoke and went to investigate. What they saw was a person standing inside the train car fully engulfed in flames," Police Commissioner Jessica Tisch said. They eventually put the fire out, but "unfortunately, it was too late," Tisch said, and the woman was pronounced dead at the scene. Zapeta was taken into custody Sunday afternoon while riding a train on the same subway line after teenagers recognized him from images circulated by the police. A Brooklyn address for Zapeta released by police matches a shelter that provides housing and substance abuse support. The shelter did not immediately respond to a request for comment. Federal immigration officials said Zapeta was deported in 2018 but later reentered the U.S. illegally. The crime deepened a growing sense of unease among some New Yorkers about the safety of the subway system, amplified by graphic video of the attack that ricocheted across social media. Overall, crime is down in the transit system compared to last year. Major felonies declined 6% between January and November compared to the same time period last year, according to data from the Metropolitan Transportation Authority. But murders are up, with nine killings this year through November compared to five during the same period last year. There have also been several high-profile incidents, including one in September where police inadvertently shot two bystanders and a fellow officer when they opened fire on a man holding a knife in front of a train. Earlier this month, a Manhattan jury acquitted former Marine Daniel Penny in the chokehold death last year of an agitated subway rider. The case became a flashpoint in debates over safety, homelessness and mental illness on the system. Policing the subway is difficult, given the vast network of trains moving between 472 stations. Each stop contains multiple entry points and, in many stations, multiple floors and platforms.
Dusty May, No. 14 Michigan try to continue strong start vs. ArkansasTEHRAN – Iranian Foreign Ministry spokesman Esmail Baghaei told the Tehran Times that Israel’s recent confirmation of Haniyeh’s assassination unequivocally validates Iran's rightful retaliatory response on October 1st when approximately 200 precision-guided ballistic missiles were launched at the occupied territories. “It was clear to Iran that Israel was behind the assassination from the beginning,” Baghaei said on Tuesday. “That’s why shortly after the attack, we registered a document with the UN and emphasized that Israel had violated Iran’s sovereignty and national integrity. We also noted that we have the legal right to respond.” Israel assassinated Hamas leader Ismail Haniyeh on July 31, hours after he attended the inauguration of President Masoud Pezeshkian. A short-range projectile was fired from outside the Palestinian leader’s residence in Tehran. On Monday, Israeli war minister Israel Katz publicly acknowledged for the first time that the regime assassinated Haniyeh. He made the confession while making threats of similar terrorist attacks against Yemeni officials. While Iran’s response came two months after the assault, Western states condemned the country for attacking Israel “unprovoked”. “There were some who argued that we should have remained passive because there was no official Israeli claim of responsibility. However, our action was the necessary and justified response, and this latest development confirms that our approach was correct all along,” Baghaei stated, adding Tehran will probably be filing more documents on the matter at the UN. Imagine a world where international rules are mere suggestions, and certain states operate with a wink and a nod. That's the reality Israel seems to be navigating, emboldened by Washington’s shadow. Israel’s admission of the Haniyeh assassination comes a couple of days after the regime blatantly boasted about terrorist attacks that killed 30 and injured over 3,000 people in Lebanon in September. Two alleged former Mossad agents appeared in front of CBS’s camera to explain how the regime orchestrated widespread pager and walkie-talkie explosions on September 17 and 18. They claimed Israel was going after Lebanon’s Hezbollah Resistance movement but some of the deceased and many of the injured were women and children. When it comes to Gaza, there is not one war crime Israel has not yet committed. The regime has been starving the population, depriving it of water and medicine, targeting homes, hospitals, and schools, and raining bombs on tents housing the displaced so that it can watch women and children burn alive. All these admissions and evidence of brazen terrorist attacks and war crimes swirl around Israel, yet the international community's ability to hold them accountable feels like a broken record stuck on repeat. Why? Because the U.S., with its veto power at the UN, effectively acts as Israel’s shield, turning the global body into a toothless tiger when it comes to restraining Israeli actions. Every attempt to condemn or every resolution seeking accountability meets the stone wall of Washington’s opposition, rendering the UN's collective voice a muted whisper. Whenever the U.S. lacks unfettered control in an organization or is not a member, it uses coercion to prevent any pressure on Israel. A clear example of this is the case of the International Criminal Court (ICC), where American senators spent months threatening its judges in a bid to thwart the issuing of arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former war minister Yoav Gallant. The behavior of American officials has led to a climate where Israel can not only commit acts of aggression but can practically flaunt them, knowing that meaningful consequences are unlikely to materialize. It's a high-stakes drama playing out on the world stage, where impunity reigns supreme and the very foundations of international justice are under assault.U.S. Senate Dem leader calls for traditional process for confirming Trump nominees
US Postal Service delivered at least 99.2 million ballots for 2024 election
Deep-pocketed investors have adopted a bearish approach towards Peloton Interactive PTON , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PTON usually suggests something big is about to happen. We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Peloton Interactive. This level of activity is out of the ordinary. The general mood among these heavyweight investors is divided, with 30% leaning bullish and 38% bearish. Among these notable options, 2 are puts, totaling $139,823, and 11 are calls, amounting to $560,137. Expected Price Movements Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $9.0 to $22.0 for Peloton Interactive over the recent three months. Volume & Open Interest Trends In terms of liquidity and interest, the mean open interest for Peloton Interactive options trades today is 10726.4 with a total volume of 11,942.00. In the following chart, we are able to follow the development of volume and open interest of call and put options for Peloton Interactive's big money trades within a strike price range of $9.0 to $22.0 over the last 30 days. Peloton Interactive Call and Put Volume: 30-Day Overview Biggest Options Spotted: Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume PTON CALL TRADE NEUTRAL 01/17/25 $1.14 $1.1 $1.12 $10.00 $112.0K 63.9K 2.0K PTON PUT SWEEP BULLISH 12/06/24 $0.33 $0.3 $0.3 $9.00 $92.7K 5.5K 5.0K PTON CALL SWEEP BEARISH 01/17/25 $1.15 $1.1 $1.1 $10.00 $65.5K 63.9K 1.2K PTON CALL SWEEP BEARISH 12/13/24 $1.04 $1.02 $1.02 $9.00 $56.8K 3.5K 566 PTON CALL SWEEP BEARISH 01/17/25 $1.14 $1.08 $1.1 $10.00 $55.5K 63.9K 1.2K About Peloton Interactive Peloton Interactive Inc operates an interactive fitness platform. It operates its business in two reportable segments: Connected Fitness Products and Subscription. Connected Fitness Product revenue consists of bike and tread and related accessories sales, associated fees for delivery and installation, and extended warranty agreements. Subscription revenue is generated from monthly Connected Fitness Subscription and Digital Subscription. The company generates maximum revenue from the Subscription segment. Geographically, the company derives a majority of its revenue from North America and the rest from the International markets. In light of the recent options history for Peloton Interactive, it's now appropriate to focus on the company itself. We aim to explore its current performance. Peloton Interactive's Current Market Status With a trading volume of 10,526,406, the price of PTON is up by 3.04%, reaching $9.83. Current RSI values indicate that the stock is may be overbought. Next earnings report is scheduled for 66 days from now. What Analysts Are Saying About Peloton Interactive In the last month, 5 experts released ratings on this stock with an average target price of $8.0. Unusual Options Activity Detected: Smart Money on the Move Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access .* Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Peloton Interactive with a target price of $9. * An analyst from Macquarie has decided to maintain their Neutral rating on Peloton Interactive, which currently sits at a price target of $9. * An analyst from JP Morgan has decided to maintain their Neutral rating on Peloton Interactive, which currently sits at a price target of $7. * An analyst from Truist Securities persists with their Hold rating on Peloton Interactive, maintaining a target price of $10. * An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Peloton Interactive, which currently sits at a price target of $5. Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Peloton Interactive with Benzinga Pro for real-time alerts. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Health In Tech Announces Closing of Initial Public Offering
God of War art director joins Naughty Dog following Netflix studio closure - Eurogamer
Eagles WR DeVonta Smith (hamstring) ruled out vs. RamsGiants’ second-year cornerback who flashed promise suffers serious back injuryHARARE – Former Citizens Coalition for Change (CCC) legislator Amos Chibaya has finally been granted US$500 bail by the High Court. In his ruling, Justice Gibson Mandaza ordered the former Mkoba MP to deposit US$500 with the Clerk of Court at the Harare Magistrates’ Court and to report once every fortnight at CID law and order division in Harare. Chibaya was also ordered to continue residing at his usual residential address and not to interfere with witnesses. The firebrand politician is accused of inciting fellow CCC activists into committing violence as he addressed them outside the Harare Magistrates’ Court where convicted party faction leader Jameson Timba and dozens more had been denied bail in June this year. His party insists Chibaya should never have been arrested in the first place arguing he did not commit any offence at all. “We won’t celebrate persecution and suppression of freedom of association. He shouldn’t have been arrested in the first place. “Zimbabwe is not yet free under the current regime. “We continue to demand the release of all political prisoners,” said CCC in a statement. Arrested many times for his fearless activism, Chibaya was recently fined US$50 for skipping court in another criminal case he is facing. According to the state, Chibaya was among a group of CCC activists who staged demonstrations at the court building in June demanding the release of 77 party activists who had been denied bail. It is further alleged Chibaya then convened a meeting at the entrance of the court building where party politicians Agency Gumbo and Ostallos Gift Siziba were among the speakers. During the meeting, Chibaya allegedly incited violence through saying, “Chi regime chinotya vanhu, chikaona vanhu chinobvunda, Havana kuhwina maelections, togona kufuma tavakutonga, Zimbabwe haisi yeZanu PF, Zimbabwe is not a Mnangagwa Dynasty zvekumbunyikidza vanhu zvinofanira kupera.” Loosely translated, Chibaya allegedly talked down the Zanu PF led government headed by President Mnangagwa whom he accused of stealing elections and that it could find itself out of power the next day in place of the main opposition. He allegedly declared it was time the state stopped trampling on citizens’ freedoms. It is further alleged Chibaya invited citizens to come in large numbers to demand the release of their colleagues. “As a result of the incitement, some people at the meeting promised Chibaya to take the prisoners out by force by saying in vernacular ‘tichavatora Nechisimba, eheeee’”.
Top Stories 2024 Breakthrough in Quantum Computing: New Algorithms Unlock Unprecedented Processing Power By mayukh - December 9, 2024 Image Credits: Pexels In a remarkable leap for quantum computing, researchers in 2024 have developed new algorithms that vastly enhance the power and speed of quantum processors, bringing us closer to solving complex problems that were previously thought to be beyond reach. These breakthroughs could have significant implications for a variety of industries, including cybersecurity, pharmaceuticals, and artificial intelligence. Quantum Algorithms and the Path Toward Real-World Applications Quantum computing has long been seen as the next frontier in computing power, but until now, the technology has struggled to scale in ways that are practically useful. In December 2024, a team of scientists at the University of California, Berkeley, revealed a new quantum algorithm that significantly improves the accuracy and efficiency of quantum error correction. Error correction is a critical component for making quantum computing viable for everyday use, as quantum bits, or qubits, are prone to errors due to their sensitivity to external interference. This new algorithm minimizes those errors and makes it easier for quantum systems to perform calculations reliably. As a result, quantum computers could soon be used for applications such as simulating complex chemical reactions in drug discovery , optimizing supply chains, and solving previously intractable problems in artificial intelligence. These innovations also open the door for faster and more secure encryption methods, which could revolutionize the cybersecurity industry by making current cryptographic techniques obsolete. The pace at which quantum computing is advancing in 2024 indicates that it is no longer a matter of “if” but “when” quantum technologies will begin to have a practical impact. While there are still challenges to overcome, these advancements in quantum algorithms signal a future where quantum computers are no longer confined to research labs but are integrated into industries and applications worldwide Facebook Twitter Pinterest WhatsApp Linkedin ReddIt Email Telegram Previous article 2024 Breakthroughs in AI-Driven Content Creation: Transforming Digital Marketing mayukh http://digitalmarketnews.comCHARLOTTE, N.C. , Dec. 2, 2024 /PRNewswire/ -- Honeywell (NASDAQ: HON) announced the signing of a strategic agreement with Bombardier, a global leader in aviation and manufacturer of world-class business jets, to provide advanced technology for current and future Bombardier aircraft in avionics, propulsion and satellite communications technologies. The collaboration will advance new technology to enable a host of high-value upgrades for the installed Bombardier operator base, as well as lay innovative foundations for future aircraft. Honeywell estimates the value of this partnership to the company at $17 billion over its life. "This is a tremendous opportunity to co-innovate and advance next generation technologies, including Anthem avionics and engines," said Vimal Kapur , Chairman and CEO of Honeywell. "Growing our long-term collaborative relationship with Bombardier is directly connected to Honeywell's focus on compelling megatrends -- automation, the future of aviation, and energy transition." "This new partnership creates unprecedented opportunities for Bombardier," said Eric Martel , President and Chief Executive Officer of Bombardier. "Honeywell's differentiated technology is the key reason we decided to collaboratively build a bright future with them." Honeywell and Bombardier will collaborate on the development of Honeywell avionics to provide unparalleled adaptability to specific mission requirements, enabling exceptional situational awareness and enhanced safety. In addition, the collaboration's propulsion-based workstreams will focus on evolutions of power, reliability and maintainability, led by the next-generation model of Honeywell's HTF7K engine. "Working together, we will generate significant value for Bombardier's operator base by providing the latest technologies to enable safe and efficient flight," said Jim Currier , President and CEO of Honeywell Aerospace Technologies. "We are committed to investing in these key technologies with Bombardier, which will not only drive substantial growth for Honeywell, but lead the industry further into the future of aviation." As part of the partnership, Bombardier and Honeywell will work together to certify and offer JetWave X for the Bombardier Global and Challenger families of aircraft for both new production and aftermarket installations. Bombardier will also have access to Honeywell's full suite of next generation L-Band satellite communications products and antennas that will provide future safety services capabilities. Additionally, all legacy pending litigation between the companies has been resolved. Honeywell Updates 2024 Outlook While the commercial agreement impacts near-term Honeywell financials, the company is confident it will lead to long-term value creation for Honeywell shareowners. Given the required investments associated with this agreement, Honeywell has updated its full-year sales, segment margin 2 , adjusted earnings per share 2,3 , and free cash flow guidance 1 . A summary is provided in the table below. TABLE 1: FULL-YEAR 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $38.6B - $38.8B ($0.4B) $38.2B - $38.4B Organic 1 Growth 3% - 4% ~(1%) ~2% Segment Margin 2 23.4% - 23.5% (0.8 %) 22.6% - 22.7% Expansion 2 Down 10 - Flat bps (80 bps) Down 90 - 80 bps Adjusted Earnings Per Share 2,3 $10.15 - $10.25 ($0.47) $9.68 - $9.78 Adjusted Earnings Growth 2,3 7% - 8% (5 %) 2% - 3% Operating Cash Flow $6.2B - $6.5B ($0.4B) $5.8B - $6.1B Free Cash Flow 1 $5.1B - $5.4B ($0.5B) $4.6B - $4.9B TABLE 2: FOURTH QUARTER 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $10.2B - $10.4B ($0.4B) $9.8B - $10.0B Organic 1 Growth 2% - 4% (4 %) (2%) - Flat Segment Margin 2 23.8% - 24.2% (2.9 %) 20.9% - 21.3% Expansion 2 Down 60 - 20 bps (290 bps) Down 350 - 310 bps Adjusted Earnings Per Share 2,3 $2.73 - $2.83 ($0.47) $2.26 - $2.36 Adjusted Earnings Growth 2,3 1% - 5% (17 %) (16%) - (12%) 1 See additional information at the end of this release regarding non-GAAP financial measures. 2 Segment margin and adjusted EPS are non-GAAP financial measures. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from certain items excluded from segment margin or adjusted EPS. We therefore, do not present a guidance range, or a reconciliation to, the nearest GAAP financial measures of operating margin or EPS. 3 Adjusted EPS and adjusted EPS V% guidance excludes items identified in the non-GAAP reconciliation of adjusted EPS at the end of this release, including the impact of amortization expense for acquisition-related intangible assets and other acquisition-related costs, and any potential future items that we cannot reliably predict or estimate such as pension mark-to-market. Bombardier, Global and Challenger are trademarks of Bombardier Inc. or its subsidiaries. Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation, and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom . Honeywell uses our Investor Relations website, www.honeywell.com/investor , as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media. We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Appendix Non-GAAP Financial Measures The following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this press release to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. Management believes the change to adjust for amortization of acquisition-related intangibles and certain acquisition- and divestiture-related costs provides investors with a more meaningful measure of its performance period to period, aligns the measure to how management will evaluate performance internally, and makes it easier for investors to compare our performance to peers. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Other companies may calculate these non-GAAP measures differently, limiting the usefulness of these measures for comparative purposes. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Investors are urged to review the reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures and not to rely on any single financial measure to evaluate Honeywell's business. Honeywell International Inc. Definition of Organic Sales Percent Change We define organic sales percentage as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures, for the first 12 months following the transaction date. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Operating Income to Segment Profit, Calculation of Operating Income and Segment Profit Margins (Unaudited) (Dollars in millions) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2023 Operating income $ 1,583 $ 7,084 Stock compensation expense 1 54 202 Repositioning, Other 2,3 569 952 Pension and other postretirement service costs 3 17 66 Amortization of acquisition-related intangibles 76 292 Acquisition-related costs 4 1 2 Segment profit $ 2,300 $ 8,598 Operating income $ 1,583 $ 7,084 ÷ Net sales $ 9,440 $ 36,662 Operating income margin % 16.8 % 19.3 % Segment profit $ 2,300 $ 8,598 ÷ Net sales $ 9,440 $ 36,662 Segment profit margin % 24.4 % 23.5 % 1 Included in Selling, general and administrative expenses. 2 Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. 3 Included in Cost of products and services sold and Selling, general and administrative expenses. 4 Includes acquisition-related fair value adjustments to inventory. We define operating income as net sales less total cost of products and services sold, research and development expenses, impairment of assets held for sale, and selling, general and administrative expenses. We define segment profit, on an overall Honeywell basis, as operating income, excluding stock compensation expense, pension and other postretirement service costs, amortization of acquisition-related intangibles, certain acquisition- and divestiture-related costs and impairments, and repositioning and other charges. We define segment profit margin, on an overall Honeywell basis, as segment profit divided by net sales. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of operating income to segment profit, on an overall Honeywell basis, has not been provided for all forward-looking measures of segment profit and segment profit margin included herein. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of operating income to segment profit will be included within future filings. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle, and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2024(E) 2023 2024(E) Earnings per share of common stock - diluted 1 $ 1.91 $2.03 - $2.13 $ 8.47 $8.76 - $8.86 Pension mark-to-market expense 2 0.19 No Forecast 0.19 No Forecast Amortization of acquisition-related intangibles 3 0.09 0.17 0.35 0.50 Acquisition-related costs 4 — 0.02 0.01 0.10 Divestiture-related costs 5 — 0.04 — 0.04 Russian-related charges 6 — — — 0.03 Net expense related to the NARCO Buyout and HWI Sale 7 — — 0.01 — Adjustment to estimated future Bendix liability 8 0.49 — 0.49 — Indefinite-lived intangible asset impairment 9 — — — 0.06 Impairment of assets held for sale 10 — — — 0.19 Adjusted earnings per share of common stock - diluted $ 2.69 $2.26 - $2.36 $ 9.52 $9.68 - $9.78 1 For the three months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 660.9 million. For the twelve months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 668.2 million. For the three and twelve months ended December 31, 2024, expected earnings per share utilizes weighted average shares of approximately 653 million and 655 million, respectively. 2 Pension mark-to-market expense uses a blended tax rate of 18%, net of tax benefit of $27 million, for 2023. 3 For the three and twelve months ended December 31, 2023, acquisition-related intangibles amortization includes $62 million and $231 million, net of tax benefit of approximately $14 million and $61 million, respectively. For the three and twelve months ended December 31, 2024, expected acquisition-related intangibles amortization includes approximately $110 million and $330 million, net of tax benefit of approximately $30 million and $85 million, respectively. 4 For the three and twelve months ended December 31, 2023, the adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $2 million and $7 million, net of tax benefit of approximately $0 million and $2 million, respectively. For the three and twelve months ended December 31, 2024, the expected adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $20 million and $65 million, net of tax benefit of approximately $5 million and $15 million, respectively. 5 For the three and twelve months ended December 31, 2024, the expected adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, is approximately $25 million, net of tax benefit of approximately $5 million. 6 For the three and twelve months ended December 31, 2023, the adjustments were a benefit of $2 million and $3 million, without tax expense, respectively. For the twelve months ended December 31, 2024, the expected adjustment is a $17 million expense, without tax benefit, due to the settlement of a contractual dispute with a Russian entity associated with the Company's suspension and wind down activities in Russia. 7 For the the twelve months ended December 31, 2023, the adjustment was $8 million, net of tax benefit of $3 million, due to the net expense related to the NARCO Buyout and HWI Sale. 8 Bendix Friction Materials ("Bendix") is a business no longer owned by the Company. In 2023, the Company changed its valuation methodology for calculating legacy Bendix liabilities. For the three and twelve months ended December 31, 2023, the adjustment was $330 million, net of tax benefit of $104 million, (or $434 million pre-tax) due to a change in the estimated liability for resolution of asserted (claims filed as of the financial statement date) and unasserted Bendix-related asbestos claims. The Company experienced fluctuations in average resolution values year-over-year in each of the past five years with no well-established trends in either direction. In 2023, the Company observed two consecutive years of increasing average resolution values (2023 and 2022), with more volatility in the earlier years of the five-year period (2019 through 2021). Based on these observations, the Company, during its annual review in the fourth quarter of 2023, reevaluated its valuation methodology and elected to give more weight to the two most recent years by shortening the look-back period from five years to two years (2023 and 2022). The Company believes that the average resolution values in the last two consecutive years are likely more representative of expected resolution values in future periods. The $434 million pre-tax amount was attributable primarily to shortening the look-back period to the two most recent years, and to a lesser extent to increasing expected resolution values for a subset of asserted claims to adjust for higher claim values in that subset than in the modelled two-year data set. It is not possible to predict whether such resolution values will increase, decrease, or stabilize in the future, given recent litigation trends within the tort system and the inherent uncertainty in predicting the outcome of such trends. The Company will continue to monitor Bendix claim resolution values and other trends within the tort system to assess the appropriate look-back period for determining average resolution values going forward. 9 For the twelve months ended December 31, 2024, the expected impairment charge of indefinite-lived intangible assets associated with the personal protective equipment business is $37 million, net of tax benefit of $11 million. 10 For the twelve months ended December 31, 2024, the expected impairment charge of assets held for sale is $125 million, with no tax benefit. Note: Amounts may not foot due to rounding. We define adjusted earnings per share as diluted earnings per share adjusted to exclude various charges as listed above. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward-looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments, and other relevant factors, these assumptions are subject to change. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Expected Cash Provided by Operating Activities to Expected Free Cash Flow (Unaudited) Twelve Months Ended December 31, 2024(E) ($B) Cash provided by operating activities ~$5.8 - $6.1 Capital expenditures ~(1.2) Free cash flow ~$4.6 - $4.9 We define free cash flow as cash provided by operating activities less cash for capital expenditures. We believe that free cash flow is a non-GAAP measure that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This measure can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Stacey Jones Sean Meakim (980) 378-6258 (704) 627-6200 stacey.jones@honeywell.com sean.meakim@honeywell.com View original content to download multimedia: https://www.prnewswire.com/news-releases/honeywell-and-bombardier-sign-landmark-agreement-to-deliver-the-next-generation-of-aviation-technology-honeywell-updates-2024-outlook-302320054.html SOURCE Honeywell
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