Honeywell 2002 Annual Report Download - page 217
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intangible assets of our Friction Materials business and a chemical
manufacturing facility, respectively. We recognized other charges consisting of
probable and reasonably estimable environmental liabilities of $80 million,
customer claims and settlements of contract liabilities of $93 million,
write-offs of receivables, inventories and other assets of $84 million and
asbestos related litigation charges of $7 million.
The following tables provide details of the pretax impact of total net
repositioning, litigation, business impairment and other charges by reportable
business segment.
Aerospace
(Dollars in millions) 2002 2001 2000
--------------------------------------------------------------------------------
Net repositioning charge .................................. $ 15 $198 $ 6
Litton litigation settlement .............................. -- 440 --
Probable and reasonably estimable legal and environmental
liabilities ............................................ -- 2 --
Customer claims and settlements of contract liabilities ... 99 111 52
Write-offs of receivables, inventories and other assets ... 21 44 33
Investment impairment charges ............................. 11 -- --
Aerospace jet engine contract cancellation ................ -- 100 --
--------------------------------------------------------------------------------
$146 $895 $91
================================================================================
Automation and Control Solutions
(Dollars in millions) 2002 2001 2000
--------------------------------------------------------------------------------
Net repositioning charge .................................. $131 $289 $ 87
Probable and reasonably estimable legal and environmental
liabilities ............................................ -- 53 --
Business impairment charges ............................... 22 -- --
Customer claims and settlements of contract liabilities ... 42 114 --
Write-offs of receivables, inventories and other assets ... 17 236 21
Investment impairment charges ............................. -- 93 --
--------------------------------------------------------------------------------
$212 $785 $108
================================================================================
Specialty Materials
(Dollars in millions) 2002 2001 2000
--------------------------------------------------------------------------------
Net repositioning charge .................................. $167 $172 $186
Probable and reasonably estimable legal and environmental
liabilities ............................................ 23 -- --
Business impairment charges ............................... 763 -- 165
Customer claims and settlements of contract liabilities ... 11 29 39
Write-offs of receivables, inventories and other assets ... 12 22 9
Investment impairment charges ............................. -- 19 --
--------------------------------------------------------------------------------
$976 $242 $399
================================================================================
Transportation and Power Systems
(Dollars in millions) 2002 2001 2000
--------------------------------------------------------------------------------
Net repositioning charge .................................. $ 26 $133 $ 5
Asbestos related litigation charges, net of insurance ..... 167 -- --
Probable and reasonably estimable legal and environmental
liabilities ............................................ -- 2 --
Business impairment charges ............................... 92 145 245
Customer claims and settlements of contract liabilities ... -- 56 --
Write-offs of receivables, inventories and other assets ... 10 31 13
--------------------------------------------------------------------------------
$295 $367 $263
================================================================================
Corporate
(Dollars in millions) 2002 2001 2000
--------------------------------------------------------------------------------
Net repositioning charge ................................ $ 38 $105 $ 8
Asbestos related litigation charges, net of insurance ... 1,381 159 7
Probable and reasonably estimable legal and environmental