Honeywell 2013 Annual Report Download - page 7

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3) Reconciliation Of Cash Provided By Operating Activities To Free Cash Flow And
Calculation Of Free Cash Flow Conversion Percentage
($M) 2004 2005 2006 2007
Cash Provided by Operating Activities........... $2,253 $2,442 $3,211 $3,911
Expenditures for Property, Plant and Equipment . (629) (684) (733) (767)
$1,624 $1,758 $2,478 $3,144
Cash Pension Contributions . ................... 74 70 296 204
Free Cash Flow................................ $1,698 $1,828 $2,774 $3,348
Net Income Attributable to Honeywell ........... $1,442 $1,886 $2,289 $2,594
Pension Mark-to-Market Adjustment,
Net of Tax (a)................................. 58 21 20 9
Net Income Attributable to Honeywell
Excluding Pension Mark-to-Market Adjustment. $1,500 $1,907 $2,309 $2,603
Cash Provided by Operating Activities........... $2,253 $2,442 $3,211 $3,911
÷Net Income Attributable to Honeywell ......... 1,442 1,886 2,289 2,594
Operating Cash Flow Conversion %. ............ 156% 129% 140% 151%
Free Cash Flow................................ $1,698 $1,828 $2,774 $3,348
÷Net Income Attributable to Honeywell
Excluding Pension Mark-to-Market Adjustment. 1,500 1,907 2,309 2,603
Free Cash Flow Conversion % ................. 113% 96% 120% 129%
(a) Mark-to-market uses a blended tax rate of 30.0%, 32.3%, 28.6% and 30.8% for 2004
through 2007, respectively.