Honeywell 2003 Annual Report Download - page 343

Equity in income (loss) of affiliated
companies .................................... 38 42 (193)
Other income (expense) .......................... (19) 4 17
Interest and other financial charges ............ (335) (344) (405)
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Income (loss) before taxes and cumulative effect
of accounting change ......................... $ 1,640 $ (945) $ (422)
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(1) Segment profit in 2001 includes pretax amortization of goodwill and
indefinite-lived intangible assets of $204 million (Aerospace--$60 million,
Automation and Control Solutions--$92 million, Specialty Materials--$32
million and Transportation Systems--$20 million). Such amortization expense
is excluded from the 2003 and 2002 results, in conformity with SFAS No.
142.
(2) Amounts included in cost of goods sold and selling, general and
administrative expenses.
During 2003, we changed our definition of segment profit to exclude pension and
other postretirement benefits (expense) income. See Note 23 of Notes to
Financial Statements for further information on our reportable segments and our
definition of segment profit.
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