XML 49 R47.htm IDEA: XBRL DOCUMENT

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2014


		Years Ended December 31,
		2014		2013		2012
Beginning of year	$	643	$	654	$	723
Accruals for environmental matters deemed probable and
reasonably estimable		268		272		234
Environmental liability payments		(321)		(304)		(320)
Other		1		21		17

End of year	$	591	$	643	$	654


Environmental liabilities are included in the following balance sheet accounts:

			December 31,
			2014		2013
	Accrued liabilities	$	278	$	304
	Other liabilities		313		339
		$	591	$	643

Asbestos Related Liabilities

	Year Ended December 31,						Year Ended December 31,						Year Ended December 31,
	2014						2013						2012

	Bendix		NARCO		Total		Bendix		NARCO		Total		Bendix		NARCO		Total

Beginning of year	$	656	$	955	$	1,611	$	653	$	1,119	$	1,772	$	613	$	1,123	$	1,736
Accrual for update to
estimated liability		195		4		199		180		5		185		168		(1)		167
Change in estimated cost of
future claims		(1)		0		(1)		16		0		16		30		0		30
Update of expected resolution
values for pending claims		2		0		2		(5)		0		(5)		8		0		8
Asbestos related liability
payments		(229)		(30)		(259)		(188)		(169)		(357)		(166)		(3)		(169)

End of year	$	623	$	929	$	1,552	$	656	$	955	$	1,611	$	653	$	1,119	$	1,772

Insurance Recoveries for Asbestos Related Liabilities

	Year Ended December 31,						Year Ended December 31,						Year Ended December 31,
	2014						2013						2012

	Bendix		NARCO		Total		Bendix		NARCO		Total		Bendix		NARCO		Total

Beginning of year	$	141	$	531	$	672	$	138	$	569	$	707	$	162	$	618	$	780
Probable insurance
recoveries related to
estimated liability		24		-		24		27		-		27		28		-		28
Insurance receipts for
asbestos related liabilities		(24)		(187)		(211)		(24)		(34)		(58)		(60)		(62)		(122)
Insurance receivables
settlements and write offs		(6)		7		1		-		(6)		(6)		8		13		21
Other		-		(1)		(1)		-		2		2		-		-		-

End of year	$	135	$	350	$	485	$	141	$	531	$	672	$	138	$	569	$	707

NARCO and Bendix asbestos related balances are included in the following balance sheet accounts:

		December 31,
		2014		2013

Other current assets	$	31	$	77
Insurance recoveries for asbestos related liabilities		454		595

	$	485	$	672

Accrued liabilities	$	352	$	461
Asbestos related liabilities		1,200		1,150

	$	1,552	$	1,611

		Years Ended
		December 31,

Claims Activity		2014	2013

Claims Unresolved at the beginning of year		12,302	23,141
Claims Filed		3,694	4,527
Claims Resolved⁽¹⁾		(6,729)	(15,366)

Claims Unresolved at the end of year		9,267	12,302

(1)	Claims resolved in 2014 include 2,110 cancer claims which were determined to have no value. Also, claims resolved in 2014 and 2013 include significantly aged (i.e., pending for more than six years) claims totaling 1,266 and 12,250, respectively, of which 82% and 92%, respectively, were non-malignant.

	December 31,

Disease Distribution of Unresolved Claims	2014	2013

Mesothelioma and Other Cancer Claims	3,933	5,810
Nonmalignant Claims	5,334	6,492

Total Claims	9,267	12,302

Honeywell has experienced average resolution values per claim excluding legal costs as follows:

		Years Ended December 31,
		2014		2013		2012		2011		2010

		(in whole dollars)
Malignant claims	$	53,500	$	51,000	$	49,000	$	48,000	$	54,000
Nonmalignant claims	$	120	$	850	$	1,400	$	1,000	$	1,300

	Maximum
	Potential
	Future
	Payments
Operating lease residual values		$	41
Other third parties’ financing			4
Customer financing			4
		$	49

	Years Ended December 31,

		2014		2013		2012
Beginning of year	$	405	$	407	$	402
Accruals for warranties/guarantees issued during the year		225		212		196
Adjustment of pre-existing warranties/guarantees		(34)		(1)		(20)
Settlement of warranty/guarantee claims		(193)		(213)		(171)
End of year	$	403	$	405	$	407

Product warranties and product performance guarantees are included in the following balance sheet accounts:

				December 31,
				2014		2013
Accrued liabilities			$	332	$	323
Other liabilities				71		82
			$	403	$	405