Honeywell 2010 Annual Report Download - page 71
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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)
2008 Repositioning Actions Aerospace
Automation
and Control
Solutions Transportation
Systems Total
Expected exit and disposal costs $ 107 $ 27 $ 6 $ 140
Costs incurred year ended December 31, 2008 (12) — (1) (13)
Costs incurred year ended December 31, 2009 (44) (1) (2) (47)
Costs incurred year ended December 31, 2010 (48) (8) (1) (57)
Remaining exit and disposal costs at December 31, 2010 $ 3 $ 18 $ 2 $ 23
2010 Repositioning Actions Aerospace
Automation
and Control
Solutions Transportation
Systems Total
Expected exit and disposal costs $ 9 $ 10 $ 3 $ 22
Costs incurred year ended December 31, 2010 — — — —
Remaining exit and disposal costs at December 31, 2010 $ 9 $ 10 $ 3 $ 22
In 2010, we recognized a charge of $212 million for environmental liabilities deemed probable and reasonably estimable during the year. We
recognized asbestos related litigation charges, net of insurance, of $175 million. Environmental and Asbestos Matters are discussed in detail in Note 21. We
also recognized other charges of $62 million in connection with the evaluation of potential resolution of certain legal matters.
In 2009, we recognized a charge of $145 million for environmental liabilities deemed probable and reasonably estimable during the year. We
recognized asbestos related litigation charges, net of insurance, of $155 million.
In 2008, we recognized a charge of $465 million for environmental liabilities deemed probable and reasonably estimable during the year, of which $309
million was recognized in the third quarter which included:
• $100 million related to the resolution of technical design issues regarding the remediation plan for Onondaga Lake ("Lake") (as previously
reported, the ultimate cost of the remediation of the Lake depended upon the resolution of these issues);
• $90 million for the estimated cost of proposed remedial actions to be taken at other sites located in Syracuse, New York in accordance with
remediation plans submitted to state environmental regulators; and
• $38 million primarily related to changes in cost estimates (due to, among other things, increases in the cost of steel, waste transportation and
disposal costs) and settlement costs relating to the remediation of the New Jersey Chrome sites known as Study Areas 5, 6 and 7.
We also recognized asbestos related litigation charges, net of insurance, of $125 million.
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