PENSION AND OTHER POSTRETIREMENT BENEFITS

9 Months Ended

Sep. 30, 2014

Pension and Other Post Retirements Disclosure Paragraph Details [Abstract]

Pension and Other Postretirement Benefits

Note16. 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				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Service cost	$	61	$	68	$	181	$	204
Interest cost		193		169		578		505
Expected return on plan assets		(314)		(268)		(943)		(804)
Amortization of prior service cost		5		5		17		17
	$	(55)	$	(26)	$	(167)	$	(78)
		Non-U.S. Plans
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Service cost	$	14	$	14	$	43	$	42
Interest cost		58		53		176		160
Expected return on plan assets		(89)		(76)		(268)		(228)
Amortization of transition obligation		-		-		1		1
Amortization of prior service (credit)		(1)		-		(2)		(1)
	$	(18)	$	(9)	$	(50)	$	(26)
Other Postretirement Benefits
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Service cost	$	-	$	-	$	-	$	-
Interest cost		11		9		31		33
Amortization of prior service (credit)		(5)		(5)		(15)		(8)
Recognition of actuarial losses		6		2		18		22
Settlements and curtailments		-		-		-		(42)
	$	12	$	6	$	34	$	5

In the nine months ended September 30, 2014, the Companycontributed$117 million of marketable securities and $29 million of cash to its non-U.S. pension plans.

In the nine months ended September 30, 2013, Honeywell amended its U.S. retiree medical plan to no longer offer certain retirees Honeywell group coverage. This plan amendment reduced the accumulated postretirement benefit obligation by $166 million, which will be recognized as part of net periodic postretirement benefit cost over the expected future lifetime of the remaining participants in the plan. The Company also amended its U.S. retiree medical plan eliminating the Company subsidy for certain union employees. This plan amendment resulted in a curtailment gain of $42 millionin the second quarter of 2013 which was included as part of net periodic postretirement benefit cost.

If required, a mark to market adjustment will be recorded in the fourth quarter of 2014 in accordance with our pension accounting method as described in Note 1 to our financial statements for the year ended December 31, 2013 contained in our Form 10-K filed on February 14, 2014.