| BUSINESS SEGMENT INFORMATION |
BUSINESS SEGMENT INFORMATION Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated on a regular basis by the chief operating decision maker, or decision making group, in deciding how to allocate resources to an individual segment and in assessing performance. Eaton's operating segments are Electrical Americas, Electrical Global, Aerospace, Vehicle, and eMobility. Operating profit includes the operating profit from intersegment sales. For additional information regarding Eaton's business segments, see Note 17 to the Consolidated Financial Statements contained in the 2022 Form 10-K. | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30 | | Nine months ended September 30 | | (In millions) | 2023 | | 2022 | | 2023 | | 2022 | | Net sales | | | | | | | | | Electrical Americas | $ | 2,594 | | | $ | 2,179 | | | $ | 7,426 | | | $ | 6,201 | | | Electrical Global | 1,503 | | | 1,486 | | | 4,572 | | | 4,418 | | | | | | | | | | | Aerospace | 867 | | | 768 | | | 2,517 | | | 2,227 | | | Vehicle | 753 | | | 744 | | | 2,242 | | | 2,123 | | | eMobility | 163 | | | 137 | | | 471 | | | 399 | | | Total net sales | $ | 5,880 | | | $ | 5,313 | | | $ | 17,229 | | | $ | 15,368 | | | | | | | | | | | Segment operating profit (loss) | | | | | | | | | Electrical Americas | $ | 719 | | | $ | 511 | | | $ | 1,913 | | | $ | 1,368 | | | Electrical Global | 328 | | | 305 | | | 892 | | | 866 | | | | | | | | | | | Aerospace | 209 | | | 185 | | | 580 | | | 506 | | | Vehicle | 131 | | | 125 | | | 353 | | | 346 | | | eMobility | — | | | (2) | | | (5) | | | (7) | | | Total segment operating profit | 1,386 | | | 1,124 | | | 3,732 | | | 3,079 | | | | | | | | | | | Corporate | | | | | | | | | Intangible asset amortization expense | (107) | | | (124) | | | (344) | | | (375) | | | Interest expense - net | (33) | | | (37) | | | (124) | | | (100) | | | Pension and other postretirement benefits income | 11 | | | 7 | | | 33 | | | 35 | | | | | | | | | | | | | | | | | | | Restructuring program charges | (7) | | | (22) | | | (46) | | | (49) | | | Other expense - net | (171) | | | (227) | | | (512) | | | (529) | | | Income before income taxes | 1,079 | | | 720 | | | 2,739 | | | 2,060 | | | Income tax expense | 187 | | | 112 | | | 463 | | | 316 | | | Net income | 892 | | | 608 | | | 2,277 | | | 1,743 | | | Less net income for noncontrolling interests | (1) | | | (1) | | | (4) | | | (2) | | | Net income attributable to Eaton ordinary shareholders | $ | 891 | | | $ | 607 | | | $ | 2,273 | | | $ | 1,741 | |
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