Honeywell 2015 Annual Report Download - page 76

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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS
—(Continued)
(Dollars in millions, except per share amounts)
Our non-U.S. pension assets are typically managed by decentralized fiduciary committees with the Honeywell Corporate
Investments group providing standard funding and investment guidance. Our non-U.S. investment policies are different for
each country as local regulations, funding rules, and financial and tax considerations are part of the funding and investment
allocation process in each country.
The fair values of both our U.S. and non-U.S. pension plans assets by asset category are as follows:
72
U.S. Plans
December 31, 2015
Total
Level 1
Level 2
Level 3
Common stock/preferred stock:
Honeywell common stock
$
1,916
$
1,916
$
—
$
—
U.S. large cap stocks
3,761
3,761
—
—
U.S. mid cap stocks
722
722
—
—
U.S. small cap stocks
89
89
—
—
International stocks
2,099
1,943
156
—
Real estate investment trusts
209
209
—
—
Fixed income investments:
Short term investments
1,332
1,332
—
—
Government securities
425
—
425
—
Corporate bonds
3,003
—
3,003
—
Mortgage/Asset-backed securities
561
—
561
—
Insurance contracts
7
—
7
—
Investments in private funds:
Private funds
889
—
—
889
Hedge funds
19
—
—
19
Real estate funds
156
—
—
156
Direct investments:
Direct private investments
535
—
—
535
Real estate properties
626
—
—
626
$
16,349
$
9,972
$
4,152
$
2,225