Honeywell 2011 Annual Report Download - page 103
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Pension Benefits
U.S. Plans Non-U.S. Plans
Net Periodic Benefit Cost 2011 2010 2009 2011 2010 2009
Service cost $ 232 $ 221 $ 183 $ 59 $ 51 $ 41
Interest cost 761 768 785 239 228 208
Expected return on plan assets (1,014) (902) (767) (284) (248) (221)
Amortization of transition obligation — — — 2 1 1
Amortization of prior service cost (credit) 33 32 26 (2) (1) (1)
Recognition of actuarial losses 1,568 182 447 234 289 308
Settlements and curtailments 24 — — 1 4 —
Net periodic benefit cost $ 1,604 $ 301 $ 674 $ 249 $ 324 $ 336
Other Changes in Plan Assets and
Benefits Obligations Recognized in
Other Comprehensive (Income) Loss
U.S. Plans Non-U.S. Plans
2011 2010 2009 2011 2010 2009
Actuarial (gains)/losses $ 1,628 $ 325 $ 686 $ 368 $ (20) $ 449
Prior service cost (credit) 5 117 — — — 2
Transition obligation recognized during year — — — (2) (1) (1)
Prior service (cost) credit recognized during year (33) (32) (26) 2 1 1
Actuarial losses recognized during year (1,568) (182) (447) (234) (289) (308)
Foreign exchange translation adjustments — — — (11) (17) 42
Total recognized in other comprehensive (income) loss $ 32 $ 228 $ 213 $ 123 $ (326) $ 185
Total recognized in net periodic benefit cost and other comprehensive (income) loss $ 1,636 $ 529 $ 887 $ 372 $ (2) $ 521
The estimated prior service cost for pension benefits that will be amortized from accumulated other comprehensive (income) loss into net periodic
benefit cost in 2012 are expected to be $28 million and $(2) million for U.S. and Non-U.S. benefit plans, respectively.
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