Honeywell 2007 Annual Report Download - page 136
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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
the Act reduced other postretirement benefits expense by approximately $25, $37 and $45 million in 2007, 2006
and 2005, respectively.
December 31,
2007 2006
Assumed health care cost trend rate:
Health care cost trend rate assumed for next year 8.5% 9.0%
Rate that the cost trend rate gradually declines to 5.5% 5.5%
Year that the rate reaches the rate it is assumed to remain at 2014 2014
The assumed health care cost trend rate has a significant effect on the amounts reported. A one-percentage-
point change in the assumed health care cost trend rate would have the following effects:
1 percentage point
Increase Decrease
Effect on total of service and interest cost components $ 6 $ (5)
Effect on postretirement benefit obligation $ 79 $ (70)
Benefit payments reflecting expected future service, as appropriate, are expected to be paid as follows:
Without Impact
of
Medicare Subsidy Net of
Medicare Subsidy
2008 $ 221 $ 206
2009 224 208
2010 223 208
2011 221 207
2012 198 185
2013-2017 855 790
Employee Savings Plans
We sponsor employee savings plans under which we match, in the form of our common stock, savings plan
contributions for certain eligible U.S. employees. Shares issued under the stock match plans were 3.7, 4.5 and
4.1 million at a cost of $199, $179 and $153 million in 2007, 2006 and 2005, respectively.
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