Honeywell 2015 Annual Report Download - page 97

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Exhibit 10.16
AMENDMENT
TO THE
PITTWAY CORPORATION
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
The Pittway Corporation Supplemental Executive Retirement Plan shall be, and hereby is, amended by inserting the
following new paragraph at the end of Section 2.3:
“
Notwithstanding any provision of this plan to the contrary, the benefit for a participant who is accruing a benefit in this
plan as of December 31, 2015 shall be calculated by taking into account the amendments that were made to the definition
of Earnings in Supplement DD of the Honeywell Retirement Earnings Plan. For the avoidance of doubt, earnings for any
year beginning after December 31, 2015 shall equal the lesser of the participant
’
s earnings for that year or the participant
’
s
earnings for the 2015 year.
”
(
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)
EXHIBIT 12
HONEYWELL INTERNATIONAL INC.
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
(
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)
Section 6: EX-12
2015
2014
2013
2012
2011
Determination of Earnings:
Income before taxes
$
6,586
$
5,818
$
5,412
$
3,875
$
2,282
Add (Deduct):
Amortization of capitalized interest
19
19
20
20
20
Fixed charges
356
364
371
404
432
Equity income, net of distributions
(30
)
(36
)
(36
)
(45
)
(51
)
Total earnings, as defined
$
6,931
$
6,165
$
5,767
$
4,254
$
2,683
Fixed Charges:
Rents(1)
$
46
$
46
$
44
$
53
$
56
Interest and other financial charges
310
318
327
351
376
356
364
371
404
432
Capitalized interest
20
21
19
18
13
Total fixed charges
$
376
$
385
$
390
$
422
$
445
Ratio of Earnings to Fixed Charges
18.43
16.01
14.79
10.08
6.03
(1)
Denotes the equivalent of an appropriate portion of rentals representative of the interest factor on all rentals other than
for capitalized leases.
Section 7: EX-21