Honeywell 2010 Annual Report Download - page 110

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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts
A reconciliation of segment profit to consolidated income from continuing operations before taxes are as follows:
Years Ended December 31,
2010 2009 2008
Segment Profit $ 4,616 $ 4,097 $ 4,845
Other income/ (expense)(1) 66 29 685
Interest and other financial charges (386) (459) (456)
Stock compensation expense(2) (164) (118) (128)
Pension expense- ongoing(2)(3) (189) (296) 91
Pension mark to market adjustment(2)(3) (471) (741) (3,290)
Other postretirement income/(expense)(2) (29) 15 (135)
Repositioning and other charges (2) (600) (478) (1,012)
Income before taxes(3) $ 2,843 $ 2,049 $ 600
(1) Equity income/(loss) of affiliated companies is included in Segment Profit.
(2) Amounts included in cost of products and services sold and selling, general and administrative expenses.
(3) As revised for the change in our method of recognizing pension expense. See Note 1 of Notes to Financial Statements for a discussion of the change
and the impacts of the change for the years ended December 31, 2009 and 2008.
Note 24. Geographic Areas - Financial Data
Net Sales(1) Long-lived Assets(2)
Years Ended December 31, Years Ended December 31,
2010 2009 2008 2010 2009 2008
United States $ 19,636 $ 18,742 $ 22,291 $ 14,176 $ 13,493 $ 14,193
Europe 8,419 7,632 9,484 2,988 2,232 2,050
Other International 5,315 4,534 4,781 1,847 1,790 1,143
$ 33,370 $ 30,908 $ 36,556 $ 19,011 $ 17,515 $ 17,386
(1) Sales between geographic areas approximate market and are not significant. Net sales are classified according to their country of origin. Included in
United States net sales are export sales of $3,655, $3,585 and $3,506 million in 2010, 2009 and 2008, respectively.
(2) Long-lived assets are comprised of property, plant and equipment, goodwill and other intangible assets.
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