Honeywell 2013 Annual Report Download - page 8

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3) Reconciliation Of Cash Provided By Operating Activities To Free Cash Flow And
Calculation Of Free Cash Flow Conversion Percentage (Continued)
($M) 2008
Cash Provided by Operating Activities..................................... $3,791
Expenditures for Property, Plant and Equipment ........................... (884)
$2,907
Cash Pension Contributions . . ............................................ 143
Cash Taxes Relating to the Sale of the Consumable Solutions Business . . . 166
Free Cash Flow.......................................................... $3,216
Net Income Attributable to Honeywell ..................................... $ 806
Pension Mark-to-Market Adjustment, Net of Tax (a) ......................... 2,033
Net Income Attributable to Honeywell
Excluding Pension Mark-to-Market Adjustment........................... $2,839
Cash Provided by Operating Activities..................................... $3,791
÷Net Income Attributable to Honeywell ................................... 806
Operating Cash Flow Conversion % . ..................................... 470%
Free Cash Flow.......................................................... $3,216
÷Net Income Attributable to Honeywell
Excluding Pension Mark-to-Market Adjustment........................... 2,839
Free Cash Flow Conversion % ........................................... 113%
(a) Mark-to-market uses a blended tax rate of 38.2% in 2008.