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COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
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, 2024 | $ | 678 |
Accruals for environmental matters deemed probable and reasonably estimable | 106 |
Environmental liability payments | (37) |
Balance at March 31, 2025 | $ | 747 |
Environmental Liabilities are Included in the Following Balance Sheet Accounts | Environmental liabilities are included in the following balance sheet accounts:
| March 31, 2025 |  | December 31, 2024
Accrued liabilities | $ | 244 |  |  | $ | 244 |
Other liabilities | 503 |  |  | 434 |
Total environmental liabilities | $ | 747 |  |  | $ | 678 |
Asbestos Related Liabilities |
December 31, 2024 |  |  |  |  | $ | 1,482 |
Accrual for update to estimated liability |  |  |  |  | 12 |
Change in estimated cost of future claims |  |  |  |  | 5 |
Asbestos-related liability payments |  |  |  |  | (60) |
March 31, 2025 |  |  |  |  | $ | 1,439 |
Insurance Recoveries for Asbestos Related Liabilities |
December 31, 2024 | $ | 110 |  |  |  |  |
Insurance receipts for asbestos-related liabilities | (4) |  |  |  |  |
March 31, 2025 | $ | 106 |  |  |  |  |
Bendix Asbestos Related Balances are Included in the Following Balance Sheet Accounts | Bendix asbestos-related balances are included in the following balance sheet accounts:
| March 31, 2025 |  | December 31, 2024
Other current assets | $ | 14 |  |  | $ | 14 |
Insurance recoveries for asbestos-related liabilities | 92 |  |  | 96 |
Total insurance recoveries for asbestos-related liabilities | $ | 106 |  |  | $ | 110 |
Accrued liabilities | $ | 156 |  |  | $ | 157 |
Asbestos-related liabilities | 1,283 |  |  | 1,325 |
Total asbestos-related liabilities | $ | 1,439 |  |  | $ | 1,482 |
Bendix Related Asbestos Claims Activity | The following tables present information regarding Bendix-related asbestos claims activity:
| Three Months Ended March 31, |  | Year Ended December 31, |  |
| 2025 |  | 2024 |  |
Claims unresolved at the beginning of period | 4,950 |  |  | 5,517 |  |  |
Claims filed | 383 |  |  | 1,617 |  |  |
Claims resolved | (379) |  |  | (2,184) |  |  |
Claims unresolved at the end of period | 4,954 |  |  | 4,950 |  |  |
Disease Distribution of Claims |
Disease Distribution of Unresolved Claims | March 31, 2025 |  | December 31, 2024 |  |
Mesothelioma and other cancer claims | 2,974 |  |  | 2,923 |  |  |
Nonmalignant claims | 1,980 |  |  | 2,027 |  |  |
Total claims | 4,954 |  |  | 4,950 |  |  |
Average Resolution Values per Asbestos Claim | Honeywell experienced average resolution values per claim excluding legal costs as follows:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020
| (in whole dollars)
Mesothelioma and other cancer claims | $ | 79,900 |  |  | $ | 66,200 |  |  | $ | 59,200 |  |  | $ | 56,000 |  |  | $ | 61,500 |
Nonmalignant claims | 1,100 |  |  | 1,730 |  |  | 520 |  |  | 400 |  |  | 550 |

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