Honeywell 2011 Annual Report Download - page 102
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Other Postretirement Benefits
2011 2010
Change in benefit obligation:
Benefit obligation at beginning of year $ 1,628 $ 1,748
Service cost 1 2
Interest cost 69 81
Plan amendments (22) (176)
Actuarial losses 6 160
Benefits paid (138) (187)
Settlements and curtailments (10) —
Benefit obligation at end of year 1,534 1,628
Change in plan assets:
Fair value of plan assets at beginning of year — —
Actual return on plan assets — —
Company contributions — —
Benefits paid — —
Fair value of plan assets at end of year — —
Funded status of plans $ (1,534) $ (1,628)
Amounts recognized in Consolidated Balance Sheet consist of:
Accrued liabilities (167) (197)
Postretirement benefit obligations other than pensions(1) (1,367) (1,431)
Net amount recognized $ (1,534) $ (1,628)
(1) Excludes Non-U.S. plans of $50 and $46 million in 2011 and 2010, respectively.
Amounts recognized in Accumulated Other Comprehensive (Income) Loss associated with our significant pension and other postretirement benefit
plans at December 31, 2011 and 2010 are as follows.
Pension Benefits
U.S. Plans Non-U.S. Plans
2011 2010 2011 2010
Transition obligation $ — $ — $ 7 $ 9
Prior service cost (credit) 148 177 (17) (19)
Net actuarial loss 1,559 1,499 430 321
Net amount recognized $ 1,707 $ 1,676 $ 420 $ 311
Other Postretirement Benefits
2011 2010
Prior service (credit) $ (67) $ (264)
Net actuarial loss 391 425
Net amount recognized $ 324 $ 161
The components of net periodic benefit cost and other amounts recognized in other comprehensive (income) loss for our significant plans for the years
ended December 31, 2011, 2010, and 2009 include the following components:
99