Honeywell 2003 Annual Report Download - page 408
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for previously settled and paid claims related to the estimated liabilities for
pending claims.
In the fourth quarter of 2002, we recorded a charge of $167 million consisting
of a $131 million reserve for the then contemplated sale of Bendix to
Federal-Mogul, our estimate of asbestos related liability net of insurance
recoveries and costs to complete the anticipated transaction with Federal-Mogul.
Discussions regarding this transaction have been terminated.
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