REDEEMABLE NONCONTROLLING INTEREST

3 Months Ended

Mar. 31, 2013

Temporary Equity Disclosure [Abstract]

Redeemable Noncontrolling Interest

Note 14. Redeemable Noncontrolling Interest

On October 22, 2012, the Company acquired a 70 percent controlling interest in Thomas Russell Co. During the calendar year 2016, Honeywell has the right to acquire and the noncontrolling shareholder has the right to sell to Honeywell the remaining 30 percent interest at a price based on a multiple of Thomas Russell Co.'s average annual operating income from 2013 to 2015, subject to a predetermined cap and floor. Additionally, Honeywell has the right to acquire the remaining 30 percent interest for a fixed price equivalent to the cap at any time on or before December 31, 2015. Noncontrolling interests with redemption features, such as the arrangement described above, that are not solely within the Company's control are considered redeemable noncontrolling interests. Redeemable noncontrolling interest is considered temporary equity and is therefore reported outside of permanent equity on the Company's Consolidated Balance Sheet at the greater of the initial carrying amount adjusted for the noncontrolling interest's share of net income (loss) or its redemption value.The Company accretes changes in the redemption value over the period from the date of acquisition to the date that the redemption feature becomes puttable.  The Company will reflectredemption value adjustments in the earnings per share calculation if redemption value is in excess of the fair value of the noncontrolling interest.

The rollforward of redeemable noncontrolling interest as of March 31, 2013 is as follows:
		Three Months Ended
		March 31,
		2013
Balance beginning of period, December 31	$	150
Net income		5
Distributions		(7)
Adjustments to redemption value		1
Other		3
Balance end of period, March 31	$	152