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HONEYWELL INTERNATIONAL INC.
NOTES TO FINANCIAL STATEMENTS
—(Continued)
(Dollars in millions, except per share amounts)
progress or as additional technical, regulatory or legal information becomes available. Given the uncertainties regarding the
status of laws, regulations, enforcement policies, the impact of other potentially responsible parties, technology and
information related to individual sites, we do not believe it is possible to develop an estimate of the range of reasonably
possible environmental loss in excess of our recorded liabilities. We expect to fund expenditures for these matters from
operating cash flow. The timing of cash expenditures depends on a number of factors, including the timing of remedial
investigations and feasibility studies, the timing of litigation and settlements of remediation liability, personal injury and
property damage claims, regulatory approval of cleanup projects, remedial techniques to be utilized and agreements with
other parties.
The following table summarizes information concerning our recorded liabilities for environmental costs:
Environmental liabilities are included in the following balance sheet accounts:
We do not currently possess sufficient information to reasonably estimate the amounts of environmental liabilities to be
recorded upon future completion of studies, litigation or settlements, and neither the timing nor the amount of the ultimate
costs associated with environmental matters can be determined although they could be material to our consolidated results
of operations and operating cash flows in the periods recognized or paid. However, considering our past experience and
existing reserves, we do not expect that environmental matters will have a material adverse effect on our consolidated
financial position.
Onondaga Lake, Syracuse, NY—We are implementing a combined dredging/capping remedy of Onondaga Lake
pursuant to a consent decree approved by the United States District Court for the Northern District of New York in January
2007. We have accrued for our estimated cost of remediating Onondaga Lake based on currently available information and
analysis performed by our engineering consultants. Honeywell is also conducting remedial investigations and activities at
other sites in Syracuse. We have recorded reserves for these investigations and activities where appropriate, consistent
with the accounting policy described above.
Honeywell has entered into a cooperative agreement with potential natural resource trustees to assess alleged natural
resource damages relating to this site. It is not possible to predict the outcome or duration of this assessment, or the
amounts of, or responsibility for, any damages.
60
Years Ended December 31,
2015
2014
2013
Beginning of year
$
591
$
643
$
654
Accruals for environmental matters deemed probable and
reasonably estimable
194
268
272
Environmental liability payments
(273
)
(321
)
(304
)
Other
6
1
21
End of year
$
518
$
591
$
643
December 31,
2015
2014
Accrued liabilities
$
253
$
278
Other liabilities
265
313
$
518
$
591