Honeywell 2006 Annual Report Download - page 98

HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
In November 2005, Honeywell's Board authorized the Company to repurchase up to $3 billion of its common stock. As of
December 31, 2006, $709 million of additional shares may yet be purchased under this program. The amount and timing of
repurchases may vary depending on market conditions and the level of other investing activities.
We are authorized to issue up to 40,000,000 shares of preferred stock, without par value, and can determine the number of shares
of each series, and the rights, preferences and limitations of each series. At December 31, 2006, there was no preferred stock
outstanding.
Note 19—Accumulated Other Comprehensive Income (Loss)
Total accumulated other comprehensive income (loss) is included in the Consolidated Statement of Shareowners' Equity. The
changes in Accumulated Other Comprehensive Income (Loss) are as follows:
Pretax Tax After-
Tax
Year Ended December 31, 2006
Foreign exchange translation adjustments $ 233 $ — $ 233
Change in fair value of effective cash flow hedges (5) 2 (3)
Minimum pension liability adjustment 268 (72) 196
Pension and postretirement benefit adjustment (2,620) 912 (1,708)
$ (2,124) $ 842 $ (1,282)
Year Ended December 31, 2005
Foreign exchange translation adjustments $ (147) $ — $ (147)
Minimum pension liability adjustment (26) 10 (16)
$ (173) $ 10 $ (163)
Year Ended December 31, 2004
Foreign exchange translation adjustments $ 351 $ — $ 351
Change in fair value of effective cash flow hedges (15) 6 (9)
Minimum pension liability adjustment (19) 4 (15)
$ 317 $ 10 $ 327
The components of Accumulated Other Comprehensive Income (Loss) are as follows:
December 31,
2006 2005
Cumulative foreign exchange translation adjustments $ 575 $ 342
Fair value of effective cash flow hedges 5 8
Pension and postretirement benefit adjustment (1,887) —
Minimum pension liability — (375)
$(1,307) $ (25)
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