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LONG-TERM DEBT AND CREDIT AGREEMENTS | 12 Months Ended
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Dec. 31, 2019
Long Term Debt And Credit Agreements [Abstract] |
Long-term Debt and Credit Agreements | Long-term Debt and Credit Agreements
| December 31,
2019 |  | 2018
1.40% notes due 2019 | $ | — |  |  | $ | 1,250 |
Three year floating rate notes due 2019 | — |  |  | 250 |
Two year floating rate notes due 2019 | — |  |  | 450 |
1.80% notes due 2019 | — |  |  | 750 |
0.65% Euro notes due 2020 | 1,123 |  |  | 1,145 |
4.25% notes due 2021 | 800 |  |  | 800 |
1.85% notes due 2021 | 1,500 |  |  | 1,500 |
2.15% notes due 2022 | 600 |  |  | — |
Floating rate notes due 2022 | 600 |  |  | — |
1.30% Euro notes due 2023 | 1,404 |  |  | 1,432 |
3.35% notes due 2023 | 300 |  |  | 300 |
2.30% notes due 2024 | 750 |  |  | — |
2.50% notes due 2026 | 1,500 |  |  | 1,500 |
2.25% Euro notes due 2028 | 842 |  |  | 859 |
2.70% notes due 2029 | 750 |  |  | — |
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 | 445 |  |  | 445 |
Industrial development bond obligations, floating rate maturing at various dates through 2037 | 22 |  |  | 22 |
6.625% debentures due 2028 | 201 |  |  | 201 |
9.065% debentures due 2033 | 51 |  |  | 51 |
Other (including finance leases and debt issuance costs), 6.6% weighted average maturing at various dates through 2025 | 278 |  |  | 353 |
| 12,486 |  |  | 12,628 |
Less: current portion | (1,376 | ) |  | (2,872 | )
| $ | 11,110 |  |  | $ | 9,756 |
The schedule of principal payments on long-term debt is as follows:
| December 31, 2019
2020 | $ | 1,376 |
2021 | 2,375 |
2022 | 1,242 |
2023 | 1,733 |
2024 | 780 |
Thereafter | 4,980 |
| 12,486 |
Less-current portion | (1,376 | )
| $ | 11,110 |
On August 8, 2019, the Company issued $600 million 2.15% Senior Notes due 2022, $600 million Floating Rate Senior Notes due 2022, $750 million 2.30% Senior Notes due 2024 and $750 million 2.70% Senior Notes due 2029 (collectively the "2019 Notes"). The 2019 Notes are senior unsecured and unsubordinated obligations of Honeywell and rank equally with all of Honeywell's existing and future senior unsecured debt and senior to all of Honeywell's subordinated debt. The offering resulted in gross proceeds of $2,700 million, offset by $18 million in discount and closing costs related to the offering. For the issuances described above, unless otherwise noted, all debt issuance costs are deferred and recognized as a direct deduction to the related debt liability and are amortized to interest expense over the debt term. On October 30, 2019, the Company paid its 1.40% notes due 2019, Three year floating rate notes due 2019, Two year floating rate notes due 2019 and 1.80% notes due 2019. In connection with the Garrett spin-off, wholly owned subsidiaries of Garrett issued notes and entered new credit facilities, which obligations were retained by Garrett in the spin-off. On September 27, 2018 the Company received net proceeds of $1,604 million from such borrowings. In connection with the Resideo spin-off, wholly owned subsidiaries of Resideo issued notes and entered new credit facilities, which obligations were retained by Resideo in the spin-off. On October 25, 2018 the Company received net proceeds of $1,197 million from such borrowings. On April 26, 2019, the Company entered into a $4.0 billion Amended and Restated Five Year Credit Agreement (the “5-Year Credit Agreement”), with a syndicate of banks. The 5-Year Credit Agreement is maintained for general corporate purposes. Commitments under the 5-Year Credit Agreement can be increased pursuant to the terms of the 5-Year Credit Agreement to an aggregate amount not to exceed $4.5 billion. The 5-Year Credit Agreement amends and restates the previously reported $4.0 billion amended and restated five-year credit agreement dated as of April 27, 2018 (the "Prior Agreement"). The 5-Year Credit Agreement has substantially the same material terms and conditions as the Prior Agreement. On April 26, 2019, the Company entered into a $1.5 billion 364-Day Credit Agreement with a syndicate of banks. This 364-Day Credit Agreement is maintained for general corporate purposes. There have been no borrowings under any of the credit agreements previously described.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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