Honeywell 2007 Annual Report Download - page 101

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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
Intangible assets amortization expense was $162, $144 and $75 million in 2007, 2006 and 2005,
respectively. Estimated intangible assets amortization expense for each of the next five years approximates $190
million in 2008, $190 million in 2009, $180 million in 2010, $160 million in 2011 and $140 million in 2012.
Note 13—Accrued Liabilities
December 31,
2007 2006
Compensation, benefit and other employee related $ 1,472 $ 1,138
Customer advances and deferred income 1,259 1,067
Income taxes 320 418
Environmental costs 311 251
Asbestos related liabilities 250 557
Product warranties and performance guarantees 380 347
Restructuring 212 127
Other taxes (payroll, sales, VAT etc.) 195 124
Insurance 96 110
Accrued interest 126 116
Other (primarily operating expenses) 1,120 1,208
$ 5,741 $ 5,463
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