Honeywell 2014 Annual Report Download - page 79

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The components of net periodic benefit (income) cost and other amounts recognized in other
comprehensive (income) loss for our significant pension and other postretirement benefit plans include
the following components:
Net Periodic Benefit Cost 2014 2013 2012 2014 2013 2012
U.S. Plans Non-U.S. Plans
Pension Benefits
Service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 241 $ 272 $ 256 $ 56 $ 58 $ 48
Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 771 677 738 231 215 221
Expected return on plan assets. . . . . . . . . . . . . . (1,257) (1,076) (1,020) (354) (308) (291)
Amortization of transition obligation . . . . . . . . . . — — — 2 2 2
Amortization of prior service cost (credit). . . . . 23 23 28 (2) (2) (2)
Recognition of actuarial losses . . . . . . . . . . . . . . 26 — 707 223 51 250
Settlements and curtailments . . . . . . . . . . . . . . . . — — — — — 2
Net periodic benefit (income) cost . . . . . . . . . . . $ (196) $ (104) $ 709 $ 156 $ 16 $ 230
Other Changes in Plan Assets and
Benefits Obligations Recognized in
Other Comprehensive (Income) Loss 2014 2013 2012 2014 2013 2012
U.S. Plans Non-U.S. Plans
Actuarial (gains) losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,686 $(3,090) $ 859 $ 333 $(48) $ 327
Prior service cost (credit) . . . . . . . . . . . . . . . . . . . . . . . . . . . — 14 — (17) — —
Transition obligation recognized during year . . . . . . . . . — — — (2) (2) (2)
Prior service (cost) credit recognized during year . . . . (23) (23) (28) 2 2 2
Actuarial losses recognized during year . . . . . . . . . . . . . (26) — (707) (223) (51) (250)
Foreign exchange translation adjustments . . . . . . . . . . . — — — (50) 3 23
Total recognized in other comprehensive
(income) loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,637 $(3,099) $ 124 $ 43 $(96) $ 100
Total recognized in net periodic benefit (income)
cost and other comprehensive (income) loss . . $1,441 $(3,203) $ 833 $ 199 $(80) $ 330
The estimated prior service cost (credit) for pension benefits that will be amortized from
accumulated other comprehensive (income) loss into net periodic benefit (income) cost in 2015 are
expected to be $23 million and ($3) million for U.S. and non-U.S. pension plans, respectively.
Net Periodic Benefit Cost 2014 2013 2012
Other Postretirement
Benefits Years Ended
December 31,
Service cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ — $ 1
Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 44 53
Amortization of prior service (credit) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (20) (13) (14)
Recognition of actuarial losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 27 34
Settlements and curtailments(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (42) (6)
Net periodic benefit cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 46 $ 16 $ 68
(1) Curtailment gain in 2013 related to elimination of retiree medical coverage for a union group in
connection with a new collective bargaining agreement.
70
HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)