Honeywell divests all Bendix asbestos liabilities to Delticus with $1.68B cash

HONEYWELL INTERNATIONAL INC

All Bendix and certain non-Bendix asbestos liabilities transferred to Delticus, which assumed full claim administration.
Honeywell and Delticus contributed ~$1.68B cash plus insurance assets to the newly established structure.
One-time after-tax loss of ~$115M excluded from adjusted EPS; annual FCF improvement >$100M over several years.
Funding partly from $1.6B cash received from Resideo Indemnification/Reimbursement Agreement termination.
Transaction provides finality with no further financial exposure; aligns with planned separation into three companies.

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