Honeywell International Inc. Rotten Score Breakdown

Honeywell UOP, a wholly owned subsidiary of Honeywell International Inc., entered into a three-year deferred prosecution agreement with the U.S. Department of Justice in December 2022 to resolve a foreign-bribery investigation involving Brazil's state-owned oil company Petrobras. The Justice Department filed a criminal information charging Honeywell UOP with conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act. According to DOJ and Honeywell UOP's admissions, between 2010 and 2014 the company conspired to offer an approximately $4 million bribe to a high-ranking Petrobras executive. The purpose of the bribe was to obtain improper business advantages and help Honeywell UOP win an approximately $425 million contract connected with the design and construction of Petrobras' proposed Premium refinery. DOJ said Honeywell UOP used an agency agreement with a sales agent to fund and pay the bribe. In exchange, the Petrobras executive provided business advantages that included inside information and secret assistance. Honeywell UOP ultimately won the contract. The Justice Department said the company earned approximately $105.5 million in profits from the corruptly obtained business. Under the coordinated U.S. and Brazilian resolution, Honeywell UOP agreed to pay more than $160 million. The U.S. criminal resolution included a criminal penalty of approximately $79 million. Honeywell UOP also agreed to pay approximately $81 million in disgorgement and prejudgment interest through the parallel SEC resolution. The resolution was coordinated with authorities in Brazil. Honeywell UOP admitted the conduct described in the deferred prosecution agreement and agreed to continue cooperating with authorities and strengthening its compliance program. Primary source: U.S. Department of Justice — Honeywell UOP to Pay Over $160 Million to Resolve Foreign Bribery Investigations in U.S. and Brazil: https://www.justice.gov/archives/opa/pr/honeywell-uop-pay-over-160-million-resolve-foreign-bribery-investigations-us-and-brazil