Honeywell 2008 Annual Report Download - page 96
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Please find page 96 of the 2008 Honeywell annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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There were $102 million of U.S. federal tax net operating losses available for carryforward at December 31,
2008 which were generated by certain subsidiaries prior to their acquisition and have expiration dates through
2024. The use of pre-acquisition operating losses is subject to limitations imposed by the Internal Revenue Code.
We do not anticipate that these limitations will affect utilization of the carryforwards prior to their expiration.
Various subsidiaries have state tax net operating loss carryforwards of $2.7 billion at December 31, 2008 with
varying expiration dates through 2025. We also have foreign net operating and capital losses of $2.5 billion which
are available to reduce future income tax payments in several countries, subject to varying expiration rules.
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