Honeywell 2006 Annual Report Download - page 128
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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
A reconciliation of segment profit to consolidated income from continuing operations before taxes is as follows:
Years Ended December 31,
2006 2005 2004
Segment profit $4,080 $3,382 $2,917
Other income (expense) 111 231 429
Interest and other financial charges (374) (356) (331)
Stock option expense(1) (77) — —
Pension and other postretirement benefits (expense)(1) (459) (561) (628)
Repositioning and other charges(1) (483) (400) (764)
Income from continuing operations before taxes $2,798 $2,296 $1,623
(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,
2006 2005 2004 2006 2005 2004
United States $ 19,821 $ 17,956 $ 16,625 $ 11,438 $ 10,842 $ 8,307
Europe 7,781 6,552 6,097 2,161 1,958 2,044
Other International 3,765 3,144 2,871 848 691 458
$ 31,367 $ 27,652 $ 25,593 $ 14,447 $ 13,491 $ 10,809
(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 $3,493, $2,780 and $2,399 million in 2006, 2005 and 2004,
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,
2006 2005 2004
Payments for repositioning and other charges:
Severance and exit cost payments $(142) $ (171) $(164)
Environmental payments (264) (247) (248)
Proceeds from sale of insurance receivable 100 — —
Insurance receipts for asbestos related liabilities 166 160 67
Asbestos related liability payments (419) (750) (518)
$(559) $(1,008) $(863)