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PENSION AND OTHER POSTRETIREMENT BENEFITS
6 Months Ended
Jun. 30, 2012
Pension and Other Post Retirements Disclosure Paragraph Details [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS

Note 14. Pension and Other Postretirement Benefits

 

       Net periodic pension and other postretirement benefits costs for our significant defined benefit plans include the following components:

 

Pension Benefits            
   U.S. Plans
   Three Months Ended  Six Months Ended
   June 30,   June 30,
   2012  2011  2012  2011
             
Service cost $ 64 $ 53 $ 128 $ 116
Interest cost   185   191   369   381
Expected return on plan assets   (255)   (254)   (510)   (507)
Amortization of prior service cost   7   9   14   17
Settlements and curtailments   -   9   -   24
  $ 1 $ 8 $ 1 $ 31
             
   Non-U.S. Plans
   Three Months Ended  Six Months Ended
   June 30,   June 30,
   2012  2011  2012  2011
             
Service cost $ 12 $ 15 $ 24 $ 30
Interest cost   55   60   110   120
Expected return on plan assets   (73)   (72)   (145)   (143)
Amortization of transition obligation   1   1   1   1
Amortization of prior service (credit)   (1)   (1)   (1)   (1)
Settlements and curtailments   -   1   2   1
  $ (6) $ 4 $ (9) $ 8
             
             
Other Postretirement Benefits            
   Three Months Ended  Six Months Ended
   June 30,   June 30,
   2012  2011  2012  2011
             
Service cost $ - $ - $ - $ 1
Interest cost   13   17   27   35
Amortization of prior service (credit)   (4)   (9)   (7)   (22)
Recognition of actuarial losses   5   6   16   18
Settlements and curtailments   (6)   (61)   (6)   (61)
  $ 8 $ (47) $ 30 $ (29)
             

Honeywell made cash contributions of $256 million and $267 million to our pension plans in the first and second quarter of 2012, respectively.

 

If required, a mark to market adjustment will be recorded in the fourth quarter of 2012 in accordance with our pension accounting method as described in Note 1 to our financial statements for the year ended December 31, 2011 contained in our Form 10-K filed on February 17, 2012.