Honeywell 2010 Annual Report Download - page 101

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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
Pension Benefits
U.S. Plans Non-U.S. Plans
Net periodic benefit cost 2010 2009 2008 2010 2009 2008
Service cost $ 221 $ 183 $ 198 $ 51 $ 41 $ 57
Interest cost 768 785 765 228 208 244
Expected return on plan assets (902) (767) (1,140) (248) (221) (301)
Amortization of transition
(asset) obligation — — — 1 1 1
Amortization of prior service
cost (credit) 32 26 30 (1) (1) (1)
Recognition of actuarial losses 182 447 3,192 289 308 112
Settlements and curtailments — — — 4 — 18
Net periodic benefit cost $ 301 $ 674 $ 3,045 $ 324 $ 336 $ 130
Other Changes in Plan Assets and
Benefits Obligations Recognized in
Other Comprehensive (Income) Loss
U.S. Plans Non-U.S. Plans
2010 2009 2008 2010 2009 2008
Actuarial (gains)/losses $ 325 $ 686 $ 4,432 $ (20) $ 449 $ 311
Prior service cost (credit) 117 — 27 — 2 —
Transition (asset) obligation
recognized during year — — — (1) (1) (1)
Prior service (cost) credit
recognized during year (32) (26) (30) 1 1 —
Actuarial losses recognized
during year (182) (447) (3,192) (289) (308) (129)
Foreign exchange translation
adjustments — — — (17) 42 (54)
Total recognized in other
comprehensive (income) loss $ 228 $ 213 $ 1,237 $ (326) $ 185 $ 127
Total Recognized in net periodic
benefit costs and other
comprehensive (income) loss $ 529 $ 887 $ 4,282 $ (2) $ 521 $ 257
The estimated prior service cost for pension benefits that will be amortized from accumulated other comprehensive (income) loss into net periodic
benefit cost in 2011 are expected to be $33 million and $(2) million for U.S. and Non-U.S. benefit plans, respectively.
98