XML 90 R41.htm IDEA: XBRL DOCUMENT v3.24.3
COMMITMENTS AND CONTINGENCIES (Tables)
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Loss Contingency
The following table summarizes information concerning the Company's recorded liabilities for environmental costs:
Balance at December 31, 2023
$641 
Accruals for environmental matters deemed probable and reasonably estimable191 
Environmental liability payments(147)
Balance at September 30, 2024
$685 
Environmental Liabilities are Included in the Following Balance Sheet Accounts
Environmental liabilities are included in the following balance sheet accounts:
September 30, 2024December 31, 2023
Accrued liabilities$247 $227 
Other liabilities438 414 
Total environmental liabilities$685 $641 
Asbestos Related Liabilities
 BendixNARCOTotal
December 31, 2023$1,644 $— $1,644 
Accrual for update to estimated liability30 1 31 
Change in estimated cost of future claims15 — 15 
Asbestos-related liability payments(157)(1)(158)
September 30, 2024$1,532 $— $1,532 
Insurance Recoveries for Asbestos Related Liabilities
 BendixNARCOTotal
December 31, 2023$123 $88 $211 
Probable insurance recoveries related to estimated liability— — — 
Insurance receipts for asbestos-related liabilities(7)(3)(10)
September 30, 2024$116 $85 $201 
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, 2024December 31, 2023
Other current assets$41 $41 
Insurance recoveries for asbestos-related liabilities160 170 
Total insurance recoveries for asbestos-related liabilities$201 $211 
Accrued liabilities$110 $154 
Asbestos-related liabilities1,422 1,490 
Total asbestos-related liabilities$1,532 $1,644 
Bendix Related Asbestos Claims Activity The following tables present information regarding Bendix-related asbestos claims activity:
Nine Months Ended
September 30,		Years Ended
December 31,
202420232022
Claims unresolved at the beginning of period5,517 5,608 6,401 
Claims filed1,198 1,803 2,014 
Claims resolved(1,809)(1,894)(2,807)
Claims unresolved at the end of period4,906 5,517 5,608 
Disease Distribution of Claims
September 30,December 31,
Disease Distribution of Unresolved Claims202420232022
Mesothelioma and other cancer claims2,879 3,244 3,283 
Nonmalignant claims2,027 2,273 2,325 
Total claims4,906 5,517 5,608 
Average Resolution Values per Asbestos Claim
Honeywell has experienced average resolution values per claim excluding legal costs as follows:
 Years Ended December 31,
 20232022202120202019
 (in whole dollars)
Mesothelioma and other cancer claims$66,200 $59,200 $56,000 $61,500 $50,200 
Nonmalignant claims$1,730 $520 $400 $550 $3,900