Honeywell 2014 Annual Report Download - page 65

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Reclassifications Out of Accumulated Other Comprehensive Income
Product
Sales
Cost of
Products
Sold
Cost of
Services
Sold
Selling,
General and
Administrative
Expenses
Other
(Income)
Expense Total
Year Ended December 31, 2014
Affected Line in the Consolidated Statement of Operations
Amortization of Pension and Other
Postretirement Items:
Actuarial losses recognized . . . . . . $— $199 $38 $42 $ — $ 279
Prior service (credit) recognized. . — (1) — — — (1)
Transition obligation recognized . . — 2 — — — 2
Losses (gains) on cash flow hedges. . (5) — — 5 — —
Unrealized gains on available for sale
investments . . . . . . . . . . . . . . . . . . . . . . . — — — — (221) (221)
Total before tax . . . . . . . . . . . . . . . . . . . . . $ (5) $200 $38 $47 $(221) $ 59
Tax expense (benefit) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (43)
Total reclassifications for the period, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 16
Product
Sales
Cost of
Products
Sold
Cost of
Services
Sold
Selling,
General and
Administrative
Expenses
Other
(Income)
Expense Total
Year Ended December 31, 2013
Affected Line in the Consolidated Statement of Operations
Amortization of Pension and Other
Postretirement Items:
Actuarial losses recognized . . . . . . $— $ 62 $14 $13 $ — $ 89
Prior service cost recognized . . . . — 7 1 1 — 9
Transition obligation recognized . . — 2 — — — 2
Settlements and curtailments . . . . — (30) (6) (6) — (42)
Losses on cash flow hedges . . . . . . . . . 7 5 — 11 — 23
Unrealized gains on available for sale
investments . . . . . . . . . . . . . . . . . . . . . . . — — — — (195) (195)
Total before tax . . . . . . . . . . . . . . . . . . . . . $ 7 $ 46 $ 9 $19 $(195) $(114)
Tax expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
Total reclassifications for the period, net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (62)
Note 18. Stock-Based Compensation Plans
Under the terms of the 2011 Stock Incentive Plan of Honeywell International Inc. and its Affiliates
(the Plan) there were 19,752,482, shares of Honeywell common stock available for future grants at
December 31, 2014. Additionally, under the 2006 Stock Plan for Non-Employee Directors of Honeywell
International Inc. (the Directors Plan) there were 107,995 shares of Honeywell common stock available
for future grants at December 31, 2014.
Stock Options—The exercise price, term and other conditions applicable to each option granted
under our stock plans are generally determined by the Management Development and Compensation
Committee of the Board. The exercise price of stock options is set on the grant date and may not be
less than the fair market value per share of our stock on that date. The fair value is recognized as an
expense over the employee’s requisite service period (generally the vesting period of the award).
Options generally vest over a four-year period and expire after ten years.
56
HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)