Honeywell 2007 Annual Report Download - page 126

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by plaintiffs would be dismissed with prejudice in exchange for approximately $35 million, and the maximum
aggregate liability for the remaining three claims would be capped at $500 million. During the third quarter of
2007, we recorded the $35 million settlement as part of pension expense (see Note 22). Any amounts payable,
including the settlement amount, will be paid from the Company's pension plan. The definitive settlement
agreement received final approval from the U.S. District Court for the District of Arizona in February 2008. We
continue to expect to prevail on the remaining claims in light of applicable law and our substantial affirmative
defenses, which have not yet been considered by the Court. Accordingly, we do not believe that a liability is
probable of occurrence and reasonably estimable with respect to these claims and we have
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