Honeywell 2004 Annual Report Download - page 114

HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
A reconciliation of segment profit to consolidated income (loss) before taxes and cumulative effect of accounting change is as
follows:
Years Ended December 31,
2004 2003 2002
Segment profit $2,974 $2,519 $ 2,497
Gain (loss) on sale of non-strategic businesses 255 38 (124)
Asbestos related litigation charges, net of insurance (76) — (1,548)
Business impairment charges (42) — (877)
Repositioning and other charges(1) (646) (276) (606)
Pension and other postretirement benefits (expense) income(1) (628) (325) 11
Equity in income (loss) of affiliated companies 82 38 42
Other income (expense) 92 (19) 4
Interest and other financial charges (331) (335) (344)
Income (loss) before taxes and cumulative effect of accounting change $1,680 $1,640 $ (945)
(1) Amounts included in cost of products and services sold and selling, general and administrative expenses.
Note 24—Geographic Areas—Financial Data
Net Sales(1) Long-lived Assets(2)
Years Ended December 31, Years Ended December 31,
2004 2003 2002 2004 2003 2002
United States $ 16,633 $ 15,178 $ 15,522 $ 9,083 $ 8,963 $ 8,665
Europe 6,097 5,433 4,483 2,044 1,833 1,756
Other International 2,871 2,492 2,269 458 386 406
$ 25,601 $ 23,103 $ 22,274 $ 11,585 $ 11,182 $ 10,827
(1) Sales between geographic areas approximate market and are not significant. Net sales are classified according to their country of
origin. Included in United States net sales are export sales of $2,399, $2,246 and $2,249 million in 2004, 2003 and 2002,
respectively.
(2) Long-lived assets are comprised of property, plant and equipment, goodwill and other intangible assets.
Note 25—Supplemental Cash Flow Information
Years Ended December 31,
2004 2003 2002
Interest paid, net of amounts capitalized $330 $367 $352
Income taxes paid, net of refunds 178 31 (14)