Honeywell 2004 Annual Report Download - page 107

HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
The accumulated benefit obligation for our defined benefit pension plans was $12,996 and $12,391 million at December 31, 2004
and 2003, respectively.
Net periodic pension and other postretirement benefit costs (income) for our significant plans include the following components:
Pension Benefits
Years Ended December 31,
2004 2003 2002
Service cost $ 222 $ 201 $ 201
Interest cost 755 757 753
Expected return on plan assets (1,042) (1,030) (1,164)
Amortization of transition asset — (7) (7)
Amortization of prior service cost 38 37 43
Recognition of actuarial losses 413 178 13
Net periodic benefit cost (income) 386 136 (161)
Settlements and curtailments — — 14
Net periodic benefit cost (income) after settlements and curtailments $ 386 $ 136 $ (147)
Other Postretirement Benefits
Years Ended December 31,
2004 2003 2002
Service cost $ 17 $ 17 $ 21
Interest cost 138 145 141
Expected return on plan assets — — —
Amortization of prior service (credit) (37) (30) (22)
Recognition of actuarial losses 101 62 10
Net periodic benefit cost 219 194 150
Settlements and curtailments — — (30)
Net periodic benefit cost after settlements and curtailments $219 $194 $ 120
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