COMMITMENTS AND CONTINGENCIES (Tables)
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9 Months Ended |
Sep. 30, 2015 |
Commitments And Contingencies [Abstract] |
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Loss Contingency |
| | December 31, 2014 | $ | 591 | | | | | | | Accruals for environmental matters deemed | | | | | | | | | probable and reasonably estimable | | 144 | | | | | | | Environmental liability payments | | (160) | | | | | | | September 30, 2015 | $ | 575 | | | | |
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Environmental liabilities are included in the following balance sheet accounts: |
| Environmental liabilities are included in the following balance sheet accounts: | | | | | | | | | | | | | | | September 30, | | | December 31, | | | | | | 2015 | | | 2014 | | | | Accrued liabilities | $ | 258 | | $ | 278 | | | | Other liabilities | | 317 | | | 313 | | | | | $ | 575 | | $ | 591 | |
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Asbestos Related Liabilities |
| Asbestos Related Liabilities | | | | | | | | | | Bendix | | NARCO | | Total | | December 31, 2014 | $ | 623 | $ | 929 | $ | 1,552 | | Accrual for update to estimated liability | | 145 | | 3 | | 148 | | Asbestos related liability payments | | (140) | | (10) | | (150) | | September 30, 2015 | $ | 628 | $ | 922 | $ | 1,550 | | | | | | | | |
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Insurance Recoveries for Asbestos Related Liabilities |
| Insurance Recoveries for Asbestos Related Liabilities | | | | | | | | | | Bendix | | NARCO | | Total | | December 31, 2014 | $ | 135 | $ | 350 | $ | 485 | | Probable insurance recoveries related to | | | | | | | | estimated liability | | 14 | | - | | 14 | | Insurance receivables settlements | | 1 | | 3 | | 4 | | Insurance receipts for asbestos related liabilities | | (33) | | (25) | | (58) | | | | | | | | | | September 30, 2015 | $ | 117 | $ | 328 | $ | 445 | | | | | | | | |
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NARCO and Bendix asbestos related balances are included in the following balance sheet accounts |
| NARCO and Bendix asbestos related balances are included in the following balance sheet accounts: | | | | | | | | | | | | | September 30, | | | December 31, | | | | | | 2015 | | | 2014 | | | | Other current assets | $ | 31 | | $ | 31 | | | | Insurance recoveries for asbestos related liabilities | | 414 | | | 454 | | | | | $ | 445 | | $ | 485 | | | | | | | | | | | | | Accrued liabilities | $ | 352 | | $ | 352 | | | | Asbestos related liabilities | | 1,198 | | | 1,200 | | | | | $ | 1,550 | | $ | 1,552 | | |
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The following tables present information regarding Bendix related asbestos claims activity |
| Nine Months Ended | Years Ended | | | September 30, | December 31, | | Claims Activity | | 2015 | | 2014 | | 2013 | | Claims Unresolved at the beginning of period | | 9,267 | | 12,302 | | 23,141 | | Claims Filed | | 2,098 | | 3,694 | | 4,527 | | Claims Resolved (a) | | (1,855) | | (6,729) | | (15,366) | | Claims Unresolved at the end of period | | 9,510 | | 9,267 | | 12,302 | | | | | | | | | | (a) Claims resolved in 2014 include 2,110 cancer claims which were determined to have no value. Also, claims resolved in 2014 and 2013 included 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. |
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Disease distribution of claims |
Disease Distribution of Unresolved Claims | | September 30, | | December 31, | | | 2015 | | 2014 | | 2013 | Mesothelioma and Other Cancer Claims | | 3,933 | | 3,933 | | 5,810 | Nonmalignant Claims | | 5,577 | | 5,334 | | 6,492 | Total Claims | | 9,510 | | 9,267 | | 12,302 |
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Average resolution values per asbestos claim |
| 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 |
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