霍尼韋爾實現(xiàn)強勁收益，營運利潤率增長370個基點，部門利潤率增長180個基點；提升2019年全年收益和利潤率指導（1）

¹As discussed in the notes to the attached reconciliations, we do not provide guidance for margin or
EPS on a GAAP basis.

如所附對賬資料的附注中所述，我們不在GAAP基礎上提供利潤率或每股收益的指導。

²Adjusted EPS and adjusted EPS V% ex-spins exclude 3Q18 after-tax separation costs related to the
spin-offs of Resideo and Garrett, the 3Q18 after-tax segment profit contribution from Resideo and Garrett,
net of the spin indemnification impacts assuming both indemnification agreements were effective in 3Q18,
and adjustments to the charges taken in connection with the 4Q17 U.S. tax legislation charge.

調整后的每股收益和分拆前調整后的每股收益V%不考慮2018年第三季度與Resideo 和 蓋瑞特業(yè)務剝離相關
的稅后分拆成本、Resideo 和 蓋瑞特2018年第三季度的稅后部門利潤、扣除分拆補償影響（假設補償協(xié)議
在2018年第三季度有效）以及針對2017年第四季度美國稅收立法臨時收費所做的調整。

³Segment margin expansion ex-spins guidance excludes sales and segment profit contribution from 
Resideo and Garrett in 2018.

分拆前部門利潤率增長指導不包括2018年Resideo和蓋瑞特銷售額和部門利潤。

⁴Adjusted EPS and adjusted EPS V%, ex-spins, guidance excludes pension mark-to-market, adjustments
to the charges taken in connection with the 4Q17 U.S. tax legislation charge, 2018 after-tax separation
costs related to the spin-offs of Resideo and Garrett, and the 2018 after-tax segment profit contribution
from the spin-offs, net of spin indemnification impacts assuming both indemnification agreements were
effective for all of 2018, of $0.62.

調整后每股收益和分拆前調整后每股收益V%指導不包括按市值計算的養(yǎng)老金、針對2017年第四季度美國
稅收立法臨時收費所做的調整、2018年與Resideo 和 蓋瑞特業(yè)務剝離相關的稅后分拆成本、分拆業(yè)務在
2018年的稅后部門利潤，同時扣除0.62美元的拆分補償影響（假設補償協(xié)議在2018年全年有效）。

⁵Adjusted free cash flow guidance and associated conversion exclude estimated payments of ~$0.3B for
separation costs incurred in 2018 related to the spin-offs of Resideo and Garrett. Adjusted free cash flow
conversion guidance also excludes pension mark-to-market and adjustments to the charges taken in
connection with the 4Q17 U.S. tax legislation charge. As discussed in the notes to the attached
reconciliations, we do not provide cash flow conversion guidance on a GAAP basis.

調整后的自由現(xiàn)金流指導和相關轉換率不考慮2018年產(chǎn)生的與Resideo和蓋瑞特業(yè)務分拆相關的預計支付
的約3億美元分拆成本。調整后的自由現(xiàn)金流轉換率也不考慮按市值計算的養(yǎng)老金以及針對2017年第四季
度美國稅收立法臨時收費所做的調整。如所附對賬的備注中所述，我們不在GAAP基礎上提供利潤率或每
股收益的指導。

⁶Adjusted EPS ex-spins and adjusted EPS V% ex-spins exclude 3Q18 after-tax separation costs related
to the spin-offs of Resideo and Garrett of $233M, and the favorable adjustments to the charges taken in
connection with the 4Q17 U.S. tax legislation charge of $114M in 3Q19 and $1,047M in 3Q18. Also
excludes the 3Q18 after-tax segment profit contribution from the spin-offs, net of spin indemnification
impacts assuming both indemnification agreements were effective in 3Q18, of $0.13.

分拆前調整后的每股收益和拆分前調整后的每股收益V%不考慮2018年第三季度與Resideo 和 蓋瑞特業(yè)務
分拆相關的稅后分拆成本（2.33億美元）、針對2017年第四季度美國稅收立法臨時收費所做的有利調整
（2019年第三季度以及2018年第三季度針對此收費分別所做的1.14億美元和10.47億美元調整），以及
分拆業(yè)務在2018年第三季度的稅后部門利潤，同時扣除0.13美元的拆分補償影響（假設補償協(xié)議在2018年
第三季度有效）。

⁷Adjusted free cash flow and adjusted free cash flow V% exclude impacts from separation costs related
to the spin-offs of $7M in 3Q19 and $114M in 3Q18.

調整后的自由現(xiàn)金流和調整后的自由現(xiàn)金流V%不考慮2019年第三季度2018年第三季度與業(yè)務分拆相關的分拆成本