Honeywell 2013 Annual Report Download - page 120
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2013 2012 2013 2012
U.S. Plans Non-U.S. Plans
Pension Benefits
Change in benefit obligation:
Benefit obligation at beginning of year. . . . . . . . . . . . . . . . . . $17,117 $15,600 $5,272 $4,648
Service cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 272 256 58 48
Interest cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 677 738 215 221
Plan amendments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 — — —
Actuarial (gains) losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (975) 1,493 72 372
Acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 190 — 44 —
Benefits paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,005) (970) (198) (188)
Settlements and curtailments . . . . . . . . . . . . . . . . . . . . . . . . . . — — — (16)
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 60 187
Benefit obligation at end of year . . . . . . . . . . . . . . . . . . . . . . . 16,290 17,117 5,523 5,272
Change in plan assets:
Fair value of plan assets at beginning of year . . . . . . . . . . 14,345 12,836 4,527 3,958
Actual return on plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,191 1,654 428 336
Company contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 825 183 271
Acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168 — 45 —
Benefits paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,005) (970) (198) (188)
Settlements and curtailments . . . . . . . . . . . . . . . . . . . . . . . . . . — — — (16)
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 52 166
Fair value of plan assets at end of year . . . . . . . . . . . . . . . . 16,727 14,345 5,037 4,527
Funded status of plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 437 $ (2,772) $ (486) $ (745)
Amounts recognized in Consolidated Balance Sheet consist
of:
Prepaid pension benefit cost(1) . . . . . . . . . . . . . . . . . . . . . . . . $ 839 $ — $ 120 $ 87
Accrued pension liability(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . (402) (2,772) (606) (832)
Net amount recognized . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 437 $ (2,772) $ (486) $ (745)
(1) Included in Other Assets on Consolidated Balance Sheet
(2) Included in Other Liabilities - Non-Current on Consolidated Balance Sheet
108
HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS—(Continued)
(Dollars in millions, except per share amounts)