v3.23.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Current assets    
Cash $ 348 $ 294
Short-term investments 1,558 261
Accounts receivable - net 4,460 4,076
Inventory 3,713 3,430
Prepaid expenses and other current assets 904 685
Total current assets 10,983 8,746
Property, plant and equipment    
Land and buildings 2,174 2,129
Machinery and equipment 6,228 5,885
Gross property, plant and equipment 8,403 8,013
Accumulated depreciation (5,062) (4,867)
Net property, plant and equipment 3,341 3,146
Other noncurrent assets    
Goodwill 14,781 14,796
Other intangible assets 5,158 5,485
Operating lease assets 600 570
Deferred income taxes 349 330
Other assets 2,076 1,940
Total assets 37,289 35,014
Current liabilities    
Short-term debt 24 324
Current portion of long-term debt 975 10
Accounts payable 3,255 3,072
Accrued compensation 592 467
Other current liabilities 2,716 2,488
Total current liabilities 7,563 6,360
Noncurrent liabilities    
Long-term debt 8,150 8,321
Pension liabilities 611 649
Other postretirement benefits liabilities 170 177
Operating lease liabilities 486 459
Deferred income taxes 460 530
Other noncurrent liabilities 1,429 1,444
Total noncurrent liabilities 11,306 11,580
Shareholders’ equity    
Ordinary shares (399.3 million outstanding in 2023 and 397.8 million in 2022) 4 4
Capital in excess of par value 12,604 12,512
Retained earnings 9,703 8,468
Accumulated other comprehensive loss (3,927) (3,946)
Shares held in trust (1) (1)
Total Eaton shareholders’ equity 18,383 17,038
Noncontrolling interests 36 38
Total equity 18,420 17,075
Total liabilities and equity $ 37,289 $ 35,014