Honeywell 2008 Annual Report Download - page 132

HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
The following tables summarize the balance sheet impact, including the benefit obligations, assets and
funded status associated with our significant pension and other postretirement benefit plans at December 31,
2008 and 2007.
Pension Benefits
Other
Postretirement
Benefits
2008 2007 2008 2007
Change in benefit obligation:
Benefit obligation at beginning of year $ 16,770 $ 17,008 $ 2,192 $ 2,265
Service cost 255 264 13 15
Interest cost 1,009 960 122 128
Plan amendments 27 22 (67) (7
Actuarial (gains) losses (1,186) (647) (131) (11
Acquisitions 67 — 3 —
Benefits paid (1,140) (1,073) (172) (198
Settlements and curtailments — 34 — —
Other (756) 202 — —
Benefit obligation at end of year 15,046 16,770 1,960 2,192
Change in plan assets:
Fair value of plan assets at beginning of year 17,194 16,578 — —
Actual return on plan assets (4,290) 1,281 — —
Company contributions 387 238 — —
Acquisitions 53 — — —
Benefits paid (1,140) (1,073) — —
Other (684) 170 — —
Fair value of plan assets at end of year 11,520 17,194 — —
Funded status of plans $ (3,526) $ 424 $ (1,960) $ (2,192
Amounts recognized in Consolidated Balance Sheet consist of:
Prepaid pension benefit cost $ 62 $ 1,231 $ — $ —
Accrued liabilities — — (197) (197
Postretirement benefit obligations other than pensions(1) — — (1,763) (1,995
Accrued pension liability(2) (3,588) (807) —
Net amount recognized $ (3,526) $ 424 $ (1,960) $ (2,192
(1) Excludes Non-U.S. plans of $36 and $30 million in 2008 and 2007, respectively.
(2) Included in Other Liabilities—Non-Current on Consolidated Balance Sheet.
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