Honeywell 2015 Annual Report Download - page 80

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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS
—(Continued)
(Dollars in millions, except per share amounts)
Benefit payments, including amounts to be paid from Company assets, and reflecting expected future service, as
appropriate, are expected to be paid as follows:
Other Postretirement Benefits
The assumed health care cost trend rate has a significant effect on the amounts reported. A one-percentage-point
change in the assumed health care cost trend rate would have the following effects:
Benefit payments reflecting expected future service, as appropriate, are expected to be paid as follows:
Note 21. Segment Financial Data
We globally manage our business operations through three reportable operating segments. Segment information is
consistent with how management reviews the businesses, makes investing and resource allocation decisions and assesses
operating performance.
Honeywell
’
s senior management evaluates segment performance based on segment profit. Segment profit is measured
as business unit income (loss) before taxes excluding general corporate
76
U.S. Plans
Non
-
U.S. Plans
2016
$
1,151
$
243
2017
1,125
252
2018
1,138
258
2019
1,153
265
2020
1,166
272
2021-2025
5,922
1,474
December 31,
2015
2014
Assumed health care cost trend rate:
Health care cost trend rate assumed for next year
7.00
%
7.00
%
Rate that the cost trend rate gradually declines to
5.00
%
5.00
%
Year that the rate reaches the rate it is assumed to remain at
2023
2023
1 percentage point
Increase
Decrease
Effect on total of service and interest cost components
$
1
$
(1
)
Effect on postretirement benefit obligation
$
27
$
(20
)
Without Impact of
Medicare Subsidy
Net of
Medicare Subsidy
2016
$
91
$
84
2017
67
63
2018
63
58
2019
58
53
2020
54
50
2021-2025
189
171