Honeywell 2014 Annual Report Download - page 43

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HONEYWELL INTERNATIONAL INC.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
2014 2013 2012
Years Ended December 31,
(Dollars in millions)
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,329 $3,962 $2,931
Other comprehensive income (loss), net of tax
Foreign exchange translation adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,044) (52) 282
Actuarial gains (losses) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,411) 2,064 (839)
Prior service credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73 99 9
Prior service cost (credit) recognized during year . . . . . . . . . . . . . . . . . . . (2) 5 6
Actuarial losses recognized during year . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202 61 649
Transition obligation recognized during year . . . . . . . . . . . . . . . . . . . . . . . . 1 2 2
Settlements and curtailments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (26) (2)
Foreign exchange translation and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 (2) (23)
Pensions and other postretirement benefit adjustments . . . . . . . . . . . . . . . . . . (1,083) 2,203 (198)
Unrealized gains (losses) for the period . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 140 (6)
Less: reclassification adjustment for gains included in net income . . . 185 127 —
Changes in fair value of available for sale investments . . . . . . . . . . . . . . . . . . (170) 13 (6)
Effective portion of cash flow hedges recognized in other
comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 (30) 14
Less: reclassification adjustment for losses included in net income . . — (23) (13)
Changes in fair value of effective cash flow hedges . . . . . . . . . . . . . . . . . . . . . 20 (7) 27
Other comprehensive income (loss), net of tax. . . . . . . . . . . . . . . . . . . . . . . . . . (2,277) 2,157 105
Comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,052 6,119 3,036
Less: Comprehensive income attributable to the noncontrolling
interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87 36 5
Comprehensive income attributable to Honeywell . . . . . . . . . . . . . . . . . . . . . . . $ 1,965 $6,083 $3,031
The Notes to Financial Statements are an integral part of this statement.
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