XML 86 R38.htm IDEA: XBRL DOCUMENT v3.23.3
COMMITMENTS AND CONTINGENCIES (Tables)
9 Months Ended
Sep. 30, 2023
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, 2022
$615 
Accruals for environmental matters deemed probable and reasonably estimable176 
Environmental liability payments(109)
Balance at September 30, 2023
$682 
Environmental Liabilities are Included in the Following Balance Sheet Accounts
Environmental liabilities are included in the following balance sheet accounts:
September 30, 2023December 31, 2022
Accrued liabilities$222 $222 
Other liabilities460 393 
Total environmental liabilities$682 $615 
Asbestos Related Liabilities
 BendixNARCOTotal
December 31, 2022$1,291 $1,325 $2,616 
Accrual for update to estimated liability33 37 
Change in estimated cost of future claims26 — 26 
Asbestos-related liability payments(128)(4)(132)
NARCO Buyout— (1,325)(1,325)
September 30, 2023$1,222 $ $1,222 
Insurance Recoveries for Asbestos Related Liabilities
 BendixNARCOTotal
December 31, 2022$130 $135 $265 
Probable insurance recoveries related to estimated liability— 
Insurance receipts for asbestos-related liabilities(10)(21)(31)
September 30, 2023$127 $114 $241 
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, 2023December 31, 2022
Other current assets$41 $41 
Insurance recoveries for asbestos-related liabilities200 224 
Total insurance recoveries for asbestos-related liabilities$241 $265 
Accrued liabilities$120 $1,436 
Asbestos-related liabilities1,102 1,180 
Total asbestos-related liabilities1
$1,222 $2,616 
1
As of December 31, 2022, Accrued liabilities included the Buyout Amount, as described and defined below, agreed upon between Honeywell and the Trust. The Buyout Amount does not represent an asbestos-related liability.
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,
202320222021
Claims unresolved at the beginning of period5,608 6,401 6,242 
Claims filed1,335 2,014 2,611 
Claims resolved(1,297)(2,807)(2,452)
Claims unresolved at the end of period5,646 5,608 6,401 
Disease Distribution of Claims
September 30,December 31,
Disease Distribution of Unresolved Claims202320222021
Mesothelioma and other cancer claims3,396 3,283 3,760 
Nonmalignant claims2,250 2,325 2,641 
Total claims5,646 5,608 6,401 
Average Resolution Values per Asbestos Claim
Honeywell has experienced average resolution values per claim excluding legal costs as follows:
 Years Ended December 31,
 20222021202020192018
 (in whole dollars)
Mesothelioma and other cancer claims$59,200 $56,000 $61,500 $50,200 $55,300 
Nonmalignant claims$520 $400 $550 $3,900 $4,700