Honeywell 2005 Annual Report Download - page 111

HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
The following tables summarize the balance sheet impact, including the benefit obligations, assets and funded status associated
with our significant pension and other postretirement benefit plans at December 31, 2005 and 2004. We use a December 31
measurement date for the majority of our pension and postretirement benefit plans.
Pension Benefits
Other
Postretirement
Benefits
2005 2004 2005 2004
Change in benefit obligation:
Benefit obligation at beginning of year $ 13,587 $ 12,993 $ 2,353 $ 2,421
Service cost 236 222 17 17
Interest cost 815 755 120 138
Plan amendments (2) 1 (20) (19)
Actuarial losses 685 361 (74) 3
Acquisitions (divestitures) 1,940 (9) 121 —
Benefits paid (965) (905) (199) (207)
Settlements and curtailments (1) 1 — —
Other (127) 168 — —
Benefit obligation at end of year 16,168 13,587 2,318 2,353
Change in plan assets:
Fair value of plan assets at beginning of year 13,070 12,265 — —
Actual return on plan assets 1,229 1,461 — —
Company contributions 105 111 — —
Acquisitions (divestitures) 1,317 (9) — —
Benefits paid (965) (905) — —
Other (103) 147 — —
Fair value of plan assets at end of year 14,653 13,070 — —
Funded status of plans (1,515) (517) (2,318) (2,353)
Unrecognized net obligation at transition 9 11 — —
Unrecognized net loss 3,444 3,245 552 679
Unrecognized prior service cost (credit) 119 151 (175) (196)
Net amount recognized $ 2,057 $ 2,890 $ (1,941) $ (1,870)
Amounts recognized in Consolidated Balance Sheet consist of:
Prepaid pension benefit cost $ 2,716 $ 2,985 $ — $ —
Intangible asset(1) 79 88 — —
Accrued liabilities — — (197) (197)
Postretirement benefit obligations other than pensions(2) — — (1,744) (1,673)
Accrued benefit liability(3) (767) (225) — —
Additional minimum liability(3) (518) (462) — —
Accumulated other nonowner changes 547 504 — —
Net amount recognized $ 2,057 $ 2,890 $ (1,941) $ (1,870)
(1) Included in Other Assets—Non-Current on Consolidated Balance Sheet.