Honeywell 2004 Annual Report Download - page 24

Proposed Plan will depend upon, among other things, the resolution of certain technical issues during the design phase of the
remediation, expected to occur sometime in 2007 and beyond.
Based on currently available information and analysis performed by our engineering consultants, our estimated cost of
implementing the remedy set forth in the Proposed Plan is consistent with amounts previously provided for in our financial statements.
Our estimating process considered a range of possible outcomes and amounts recorded reflect our best estimate at this time. We do not
believe that this matter will have a material adverse impact on our consolidated financial position. Given the scope and complexity of
this project, it is possible that actual costs could exceed estimated costs by an amount that could have a material adverse impact on our
consolidated results of operations and operating cash flows in the periods recognized or paid. At this time, however, we cannot
identify any legal, regulatory or technical reason to conclude that a specific alternative outcome is more probable than the outcome for
which we have made provisions in our financial statements.
Further information regarding environmental matters is included in “Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations.”
Employees
We have approximately 109,000 employees at December 31, 2004, of which approximately 60,000 were located in the United
States.
Item 2. Properties
We have 1,152 locations consisting of plants, research laboratories, sales offices and other facilities. Our headquarters and
administrative complex is located at Morris Township, New Jersey. Our plants are generally located to serve large marketing areas
and to provide accessibility to raw materials and labor pools. Our properties are generally maintained in good operating condition.
Utilization of these plants may vary with sales to customers and other business conditions; however, no major operating facility is
significantly idle. We own or lease warehouses, railroad cars, barges, automobiles, trucks, airplanes and materials handling and data
processing equipment. We also lease space for administrative and sales staffs. Our properties and equipment are in good operating
condition and are adequate for our present needs. We do not anticipate difficulty in renewing existing leases as they expire or in
finding alternative facilities.
11