Honeywell 2009 Annual Report Download - page 132

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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
Amounts recognized in Accumulated Other Comprehensive (Income) Loss associated with our significant
pension and other postretirement benefit plans at December 31, 2009 and 2008 are as follows.
Pension Benefits
Other
Postretirement
Benefits
2009 2008 2009 2008
Transition obligation $ 11 $ 11 $ — $ —
Prior service cost (credit) 73 97 (179) (140)
Actuarial losses 7,566 5,958 299 265
Net amount recognized $ 7,650 $ 6,066 $ 120 $ 125
The components of net periodic benefit cost and other amounts recognized in other comprehensive (income)
loss for our significant plans include the following components:
Net Periodic Benefit Cost
Pension Benefits Other Postretirement Benefits
Years Ended December 31, Years Ended December 31,
2009 2008 2007 2009 2008 2007
Service cost $ 224 $ 255 $ 264 $ 6 $ 13 $ 15
Interest cost 993 1,009 960
104
122 128
Expected return on plan assets (1,322) (1,404) (1,347) — — —
Amortization of transition obligation 1 1 — — — —
Amortization of prior service cost
(credit) 25 29 26 (44) (43) (37)
Recognition of actuarial losses 161 47 210 13 33 46
Settlements and curtailments — 18 35 (98) — —
Net periodic benefit cost $ 82 $ (45) $ 148 $ (19) $ 125 $ 152
Other Changes in Plan Assets and
Benefit Obligations Recognized in
Other Comprehensive (Income) Loss 2009 2008 2007 2009 2008 2007
Actuarial (gains) losses $ 1,708 $ 4,499 $ (581) $ 47 $ (131) $ (11)
Prior service cost (credit) 2 27 22 (180) (67) (7)
Transition obligation recognized
during year (1) (1) — — — —
Prior service (cost) credit recognized
during year (25) (30) (26) 141 43 37
Actuarial losses recognized during
year (161) (63) (210) (13) (33) (46)
Foreign exchange translation
adjustments 61 (147) 19 — — —
Total recognized in other
comprehensive (income)
loss $ 1,584 $ 4,285 $ (776) $ (5) $ (188) $ (27)
Total recognized in net
periodic benefit cost and
other comprehensive
(income) loss $ 1,666 $ 4,240 $ (628) $ (24) $ (63) $ 125