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v3.23.3

PENSION BENEFITS | 9 Months Ended
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Sep. 30, 2023
Retirement Benefits [Abstract] |
PENSION BENEFITS | PENSION BENEFITS Net periodic pension benefit (income) cost for the Company's significant pension plans included the following components:
| U.S. Plans |
Three Months Ended September 30, |  | Nine Months Ended September 30, |
2023 |  | 2022 |  | 2023 |  | 2022 |  |  |
Service cost | $ | 8 |  |  | $ | 21 |  |  | $ | 22 |  |  | $ | 64 |  |  |  |
Interest cost | 162 |  |  | 95 |  |  | 484 |  |  | 285 |  |  |  |
Expected return on plan assets | (277) |  |  | (320) |  |  | (833) |  |  | (961) |  |  |  |
Amortization of prior service (credit) cost | (12) |  |  | (11) |  |  | (32) |  |  | (32) |  |  |  |
Net periodic benefit income | $ | (119) |  |  | $ | (215) |  |  | $ | (359) |  |  | $ | (644) |  |  |  |
| Non-U.S. Plans
Three Months Ended September 30, |  | Nine Months Ended September 30,
2023 |  | 2022 |  | 2023 |  | 2022
Service cost | $ | 2 |  |  | $ | 5 |  |  | $ | 8 |  |  | $ | 15 |
Interest cost | 51 |  |  | 25 |  |  | 150 |  |  | 79 |
Expected return on plan assets | (70) |  |  | (67) |  |  | (206) |  |  | (213) |
Net periodic benefit income | $ | (17) |  |  | $ | (37) |  |  | $ | (48) |  |  | $ | (119) |
During the three and nine months ended September 30, 2023, the Company repurchased $100 million of outstanding Honeywell shares of common stock from the Honeywell U.S. Pension Plan Master Trust. The Company completed no repurchases of outstanding Honeywell shares of common stock from the Honeywell U.S. Pension Plan Master Trust during 2022.

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