Honeywell 2015 Annual Report Download - page 72

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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS
—(Continued)
(Dollars in millions, except per share amounts)
Amounts recognized in accumulated other comprehensive (income) loss associated with our significant pension and
other postretirement benefit plans at December 31, 2015 and 2014 are as follows:
68
Other
Postretirement
Benefits
2015
2014
Change in benefit obligation:
Benefit obligation at beginning of year
$
973
$
1,096
Service cost
—
—
Interest cost
33
42
Plan amendments(1)
(290
)
(87
)
Actuarial (gains) losses
(55
)
46
Benefits paid
(92
)
(124
)
Benefit obligation at end of year
569
973
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
$
(569
)
$
(973
)
Amounts recognized in Consolidated Balance Sheet consist of:
Accrued liabilities
$
(85
)
$
(111
)
Postretirement benefit obligations other than pensions(2)
(484
)
(862
)
Net amount recognized
$
(569
)
$
(973
)
(1)
Elimination of retiree medical insurance coverage for certain retirees. Amount will be recognized as part of net
postretirement benefit cost over the expected future lifetime of the remaining participants in the plan.
(2)
Excludes non-U.S. plans of $42 million and $49 million in 2015 and 2014.
Pension Benefits
U.S. Plans
Non
-
U.S. Plans
2015
2014
2015
2014
Transition obligation
$
—
$
—
$
—
$
1
Prior service (credit) cost
(355
)
88
(22
)
(27
)
Net actuarial loss
1,005
281
464
493
Net amount recognized
$
650
$
369
$
442
$
467
Other
Postretirement
Benefits
2015
2014
Prior service (credit)
$
(496
)
$
(235
)
Net actuarial loss
189
278
Net amount recognized
$
(307
)
$
43