Eaton (ETN) 10-K 24 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) shares in Millions, $ in Billions	12 Months Ended
	Dec. 31, 2020	Jan. 31, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	000-54863
Entity Registrant Name	EATON CORPORATION plc
Entity Central Index Key	0001551182
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-1059235
Entity Address, Address Line One	Eaton House,
Entity Address, Address Line Two	30 Pembroke Road,
Entity Address, City or Town	Dublin 4,
Entity Address, Country	IE
Entity Address, Postal Zip Code	D04 Y0C2
City Area Code	+353
Local Phone Number	1637 2900
Title of 12(b) Security	Ordinary shares ($0.01 par value)
Trading Symbol	ETN
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 35
Entity Ordinary Shares, Shares Outstanding		398.1
Documents Incorporated by Reference	Portions of the Proxy Statement for the 2021 annual shareholders meeting are incorporated by reference into Part III.

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 17,858	$ 21,390	$ 21,609
Cost of products sold	12,408	14,338	14,511
Selling and administrative expense	3,075	3,583	3,548
Research and development expense	551	606	584
Interest expense - net	149	199	258
Gain on sale of business	221	0	0
Arbitration decision expense	0	0	275
Other expense - net	150	73	9
Income before income taxes	1,746	2,591	2,424
Income tax expense	331	378	278
Net income	1,415	2,213	2,146
Less net income for noncontrolling interests	(5)	(2)	(1)
Net income attributable to Eaton ordinary shareholders	$ 1,410	$ 2,211	$ 2,145
Net income per share attributable to Eaton ordinary shareholders
Diluted (USD per share)	$ 3.49	$ 5.25	$ 4.91
Basic (USD per share)	$ 3.51	$ 5.28	$ 4.93
Weighted-average number of ordinary shares outstanding
Diluted (shares)	404	420.8	436.9
Basic (shares)	402.2	419	434.3
Cash dividends declared per ordinary share (USD per share)	$ 2.92	$ 2.84	$ 2.64

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 1,415	$ 2,213	$ 2,146
Less net income for noncontrolling interests	(5)	(2)	(1)
Net income attributable to Eaton ordinary shareholders	1,410	2,211	2,145
Other comprehensive income (loss), net of tax
Currency translation and related hedging instruments	201	16	(609)
Pensions and other postretirement benefits	(73)	(130)	(139)
Cash flow hedges	(33)	(31)	7
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	95	(145)	(741)
Total comprehensive income attributable to Eaton ordinary shareholders	$ 1,505	$ 2,066	$ 1,404

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash	$ 438	$ 370
Short-term investments	664	221
Accounts receivable - net	2,904	3,437
Inventory	2,109	2,805
Assets held for sale	2,487	1,377
Prepaid expenses and other current assets	576	518
Total current assets	9,178	8,728
Property, plant and equipment
Land and buildings	2,184	2,440
Machinery and equipment	5,404	6,266
Gross property, plant and equipment	7,588	8,706
Accumulated depreciation	(4,624)	(5,210)
Net property, plant and equipment	2,964	3,496
Other noncurrent assets
Goodwill	12,903	13,456
Other intangible assets	4,175	4,638
Operating lease assets	428	436
Deferred income taxes	426	372
Other assets	1,750	1,679
Total assets	31,824	32,805
Current liabilities
Short-term debt	1	255
Current portion of long-term debt	1,047	248
Accounts payable	1,987	2,114
Accrued compensation	351	449
Liabilities held for sale	468	325
Other current liabilities	2,027	1,741
Total current liabilities	5,881	5,132
Noncurrent liabilities
Long-term debt	7,010	7,819
Pension liabilities	1,588	1,462
Other postretirement benefits liabilities	330	328
Operating lease liabilities	326	331
Deferred income taxes	277	396
Other noncurrent liabilities	1,439	1,204
Total noncurrent liabilities	10,970	11,540
Shareholders’ equity
Ordinary shares (398.1 million outstanding in 2020 and 413.3 million in 2019)	4	4
Capital in excess of par value	12,329	12,200
Retained earnings	6,794	8,170
Accumulated other comprehensive loss	(4,195)	(4,290)
Shares held in trust	(2)	(2)
Total Eaton shareholders’ equity	14,930	16,082
Noncontrolling interests	43	51
Total equity	14,973	16,133
Total liabilities and equity	$ 31,824	$ 32,805

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares shares in Millions	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Ordinary shares outstanding (shares)	398.1	413.3

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net income	$ 1,415	$ 2,213	$ 2,146
Adjustments to reconcile to net cash provided by operating activities
Depreciation and amortization	811	884	903
Deferred income taxes	(86)	(71)	(115)
Pension and other postretirement benefits expense	210	157	159
Contributions to pension plans	(122)	(119)	(126)
Contributions to other postretirement benefits plans	(23)	(15)	(25)
Loss (gain) on sale of businesses	(91)	66	0
Changes in working capital
Accounts receivable - net	219	172	(152)
Inventory	371	(60)	(242)
Accounts payable	76	147	23
Accrued compensation	(65)	(23)	23
Accrued income and other taxes	(95)	16	1
Other current assets	(67)	12	25
Other current liabilities	196	(21)	(19)
Other - net	195	93	57
Net cash provided by operating activities	2,944	3,451	2,658
Investing activities
Capital expenditures for property, plant and equipment	(389)	(587)	(565)
Cash paid for acquisitions of businesses, net of cash acquired	(200)	(1,180)	0
Proceeds from (payments for) sales of businesses	1,408	(36)	0
Sales (purchases) of short-term investments - net	(441)	(70)	355
Proceeds from (payments for) settlement of currency exchange contracts not designated as hedges - net	94	54	(110)
Other - net	(75)	(47)	(78)
Net cash provided by (used in) investing activities	397	(1,866)	(398)
Financing activities
Proceeds from borrowings	1	1,232	410
Payments on borrowings	(504)	(507)	(574)
Cash dividends paid	(1,175)	(1,201)	(1,149)
Exercise of employee stock options	71	66	29
Repurchase of shares	(1,608)	(1,029)	(1,271)
Employee taxes paid from shares withheld	(37)	(46)	(24)
Other - net	(6)	(9)	(2)
Net cash used in financing activities	(3,258)	(1,494)	(2,581)
Effect of currency on cash	(15)	(4)	43
Total increase (decrease) in cash	68	87	(278)
Cash at the beginning of the period	370	283	561
Cash at the end of the period	$ 438	$ 370	$ 283

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Total Eaton shareholders' equity	Total Eaton shareholders' equityCumulative Effect, Period of Adoption, Adjustment	Ordinary shares	Capital in excess of par value	Retained earnings	Retained earningsCumulative Effect, Period of Adoption, Adjustment	Accumulated other comprehensive loss	Shares held in trust	Noncontrolling interests
Balance at beginning of period (shares) at Dec. 31, 2017					439.9
Balance at beginning of period at Dec. 31, 2017	$ 17,290		$ 17,253		$ 4	$ 11,987	$ 8,669		$ (3,404)	$ (3)	$ 37
Balance at beginning of period (ASU 2014-09) at Dec. 31, 2017		$ (2)		$ (2)				$ (2)
Balance at beginning of period (ASU 2016-16) at Dec. 31, 2017		$ (199)		$ (199)				$ (199)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,146		2,145				2,145				1
Other comprehensive income (loss), net of tax	(741)		(741)						(741)
Cash dividends paid	(1,150)		(1,149)				(1,149)				(1)
Issuance of shares under equity-based compensation plans (shares)					1.2
Issuance of shares under equity-based compensation plans	100		100			103	(3)
Changes in noncontrolling interest of consolidated subsidiaries - net	(2)										(2)
Repurchase of shares (shares)					(17.5)
Repurchase of shares	(1,300)		(1,300)				(1,300)
Balance at end of period (shares) at Dec. 31, 2018					423.6
Balance at end of period at Dec. 31, 2018	16,142		16,107		$ 4	12,090	8,161		(4,145)	(3)	35
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,213		2,211				2,211				2
Other comprehensive income (loss), net of tax	(145)		(145)						(145)
Cash dividends paid	(1,204)		(1,201)				(1,201)				(3)
Issuance of shares under equity-based compensation plans (shares)					2.2
Issuance of shares under equity-based compensation plans	110		110			110	(1)			1
Acquisitions of businesses	55										55
Acquisition of noncontrolling interest obtained through tender offer	(33)										(33)
Business divestiture	(4)										(4)
Changes in noncontrolling interest of consolidated subsidiaries - net	(1)										(1)
Repurchase of shares (shares)					(12.5)
Repurchase of shares	(1,000)		(1,000)				(1,000)
Balance at end of period (shares) at Dec. 31, 2019					413.3
Balance at end of period at Dec. 31, 2019	16,133		16,082		$ 4	12,200	8,170		(4,290)	(2)	51
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,415		1,410				1,410				5
Other comprehensive income (loss), net of tax	95		95						95
Cash dividends paid	(1,184)		(1,175)				(1,175)				(9)
Issuance of shares under equity-based compensation plans (shares)					1.9
Issuance of shares under equity-based compensation plans	126		126			129	(3)
Changes in noncontrolling interest of consolidated subsidiaries - net	(4)										(4)
Repurchase of shares (shares)					(17.1)
Repurchase of shares	(1,608)		(1,608)				(1,608)
Balance at end of period (shares) at Dec. 31, 2020					398.1
Balance at end of period at Dec. 31, 2020	$ 14,973		$ 14,930		$ 4	$ 12,329	$ 6,794		$ (4,195)	$ (2)	$ 43

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General Information and Basis of Presentation Eaton Corporation plc (Eaton or the Company) is a power management company with 2020 net sales of $17.9 billion. Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic and mechanical power – more safely, more efficiently and more reliably. Eaton has approximately 92,000 employees in 60 countries and sells products to customers in more than 175 countries. The consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States. Preparation of the consolidated financial statements requires management to make estimates and assumptions that affect amounts reported in the consolidated financial statements and notes. Actual results could differ from these estimates. Management has evaluated subsequent events through the date the consolidated financial statements were filed with the Securities Exchange Commission. The consolidated financial statements include the accounts of Eaton and all subsidiaries and other entities it controls. Intercompany transactions and balances have been eliminated. The equity method of accounting is used for investments in associate companies where the Company has significant influence and generally a 20% to 50% ownership interest. Equity investments are evaluated for impairment whenever events or circumstances indicate the book value of the investment exceeds fair value. An impairment would exist if there is an other-than-temporary decline in value. Investments in associate companies included in Other assets were $680 and $714 as of December 31, 2020 and December 31, 2019, respectively, and income from these investments is reported in Other (income) expense - net. Eaton does not have off-balance sheet arrangements with unconsolidated entities. Eaton's functional currency is United States Dollars (USD). The functional currency for most subsidiaries is their local currency. Financial statements for these subsidiaries are translated at year-end exchange rates as to assets and liabilities and weighted-average exchange rates as to revenues and expenses. The resulting translation adjustments are recognized in Accumulated other comprehensive loss. During the first quarter of 2020, Eaton re-segmented certain reportable operating segments due to a reorganization of the Company's businesses. The new reportable segments are Electrical Americas and Electrical Global, which include the legacy Electrical Products and Electrical Systems and Services segments. Additionally, the Filtration and Golf Grip businesses previously included in the Hydraulics segment, and the electrical aerospace connectors business previously included in the Electrical Products segment, have been added to the Aerospace reportable segment as part of the reorganization. The Company also changed how it measures business segment performance in 2020 as it no longer allocates acquisition and divestiture charges to its operating segments. Historical segment information has been retrospectively adjusted to reflect these changes. See Note 17 for additional information related to the segments. The Company recorded $37 and $13 of net gains for the years ended December 31, 2019 and 2018, respectively, related primarily to the remeasurement of intercompany loans denominated in a foreign currency and the currency exchange derivative contracts used to hedge these exposures. In the first quarter of 2020, Eaton changed the presentation of these gains from Other expense - net to Interest expense - net, and reclassified all prior periods. In the first quarter of 2020, the Company also changed the presentation of the following items within the operating activities section of the Consolidated Statements of Cash Flows: • The non-cash gains and losses associated with currency exchange derivative contracts have been moved from Other current assets and Other current liabilities to Other-net. This puts the non-cash impact of these derivatives on the same line as the non-cash impact from the balance sheet currency exposures they are used to hedge. • The changes in both uncertain tax positions and prepaid taxes have been moved from Other-net and Other current assets, respectively, to Accrued income and other taxes. This places the cash flow impact from all taxes on the same line. • The changes in non-trade receivables have been moved from Accounts receivable-net to Other current assets. This separates the cash flows associated with non-trade receivables from customer collections. The net impact of these cash flow reclassifications made to prior periods was a $179 inflow for 2019 and a $206 outflow for 2018 to Changes in working capital with the corresponding impact to Other-net, resulting in no change to total operating cash flow. Adoption of New Accounting Standards Eaton adopted Accounting Standards Update 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, in the first quarter of 2020. This standard introduces new guidance for accounting for credit losses on receivables. The Company did not recognize a cumulative-effect adjustment to retained earnings as of January 1, 2020, as the adoption of this standard did not have a material impact on the consolidated financial statements. Revenue Recognition Sales are recognized when control of promised goods or services are transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Control is transferred when the customer has the ability to direct the use of and obtain benefits from the goods or services. The majority of the Company’s sales agreements contain performance obligations satisfied at a point in time when control is transferred to the customer. Sales recognized over time are generally accounted for using an input measure to determine progress completed at the end of the period. Sales for service contracts generally are recognized as the services are provided. For agreements with multiple performance obligations, judgment is required to determine whether performance obligations specified in these agreements are distinct and should be accounted for as separate revenue transactions for recognition purposes. In these types of agreements, we generally allocate sales price to each distinct obligation based on the price of each item sold in separate transactions. Payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized and payment is due is not significant. Eaton does not evaluate whether the selling price includes a financing interest component for contracts that are less than a year. Sales, value added, and other taxes collected concurrent with revenue are excluded from sales. Shipping and handling costs are treated as fulfillment costs and are included in Cost of products sold. Eaton records reductions to sales for returns, and customer and distributor incentives, primarily comprised of rebates, at the time of the initial sale. Rebates are estimated based on sales terms, historical experience, trend analysis, and projected market conditions in the various markets served. The rebate programs offered vary across businesses due to the numerous markets Eaton serves, but the most common incentives relate to amounts paid or credited to customers for achieving defined volume levels. Returns are estimated at the time of the sale primarily based on historical experience and recorded gross on the Consolidated Balance Sheet. See Note 3 for additional information. Goodwill and Indefinite Life Intangible Assets Goodwill is evaluated annually for impairment as of July 1 using either a quantitative or qualitative analysis. Goodwill is tested for impairment at the reporting unit level, and is based on the net assets for each reporting unit, including goodwill and intangible assets. The Company’s reporting units are equivalent to the reportable operating segments, except for the Aerospace segment which has two reporting units. Goodwill is assigned to each reporting unit, as this represents the lowest level that constitutes a business and is the level at which management regularly reviews the operating results. The Company performs a quantitative analysis using a discounted cash flow model and other valuation techniques, but may elect to perform a qualitative analysis. Additionally, goodwill is evaluated for impairment whenever an event occurs or circumstances change that would indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The annual goodwill impairment test was performed using a qualitative analysis in 2020 and 2019, except for the eMobility segment in 2020 and the Hydraulics segment in 2019 which used a quantitative analysis. A qualitative analysis is performed by assessing certain trends and factors, including projected market outlook and growth rates, forecasted and actual sales and operating profit margins, discount rates, industry data, and other relevant qualitative factors. These trends and factors are compared to, and based on, the assumptions used in the most recent quantitative analysis performed for each reporting unit. The results of the qualitative analyses did not indicate a need to perform quantitative analysis. Goodwill impairment testing was also performed using quantitative analyses in 2020 for the Electrical Americas, Electrical Global, Hydraulics and Aerospace reporting units due to a reorganization of the Company’s businesses discussed in Note 1 and Note 6, and in 2020 and 2019 as a result of the Hydraulics and Lighting businesses being classified as held for sale as discussed in Note 2. The Company used the relative fair value method to reallocate goodwill. Quantitative analyses were performed by estimating the fair value for each reporting unit using a discounted cash flow model. The model includes estimates of future cash flows, future growth rates, terminal value amounts, and the applicable weighted-average cost of capital used to discount those estimated cash flows. The future cash flows were based on the Company's long-term operating plan and a terminal value was used to estimate the reporting unit's cash flows beyond the period covered by the operating plan. The weighted-average cost of capital is an estimate of the overall after-tax rate of return required by equity and debt market holders of a business enterprise. These analyses require the exercise of judgments, including judgments about appropriate discount rates, perpetual growth rates, revenue growth, and margin assumptions. Sensitivity analyses were performed around certain of these assumptions in order to assess the reasonableness of the assumptions and the resulting estimated fair values. Based on these analyses performed in 2020 and 2019, the fair value of Eaton's reporting units continue to substantially exceed their respective carrying amounts and thus, no impairment exists. Indefinite life intangible assets consist of certain trademarks. They are evaluated annually for impairment as of July 1 using either a quantitative or qualitative analysis to determine whether their fair values exceed their respective carrying amounts. Indefinite life intangible asset impairment testing for 2020 and 2019 was performed using a quantitative analysis. The Company determines the fair value of these assets using a royalty relief methodology similar to that employed when the associated assets were acquired, but using updated estimates of future sales, cash flows, and profitability. Additionally, indefinite life intangible assets are evaluated for impairment whenever an event occurs or circumstances change that would indicate that it is more likely than not that the asset is impaired. For 2020 and 2019, the fair value of indefinite lived intangible assets exceeded the respective carrying value. For additional information about goodwill and other intangible assets, see Note 6. Leases The Company determines if an arrangement is a lease at inception. Operating lease assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. Lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. As most leases do not provide an implicit interest rate, Eaton uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The length of a lease term includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise those options. The Company made an accounting policy election to not recognize lease assets or liabilities for leases with a term of 12 months or less. Additionally, when accounting for leases, the Company combines payments for leased assets, related services and other components of a lease. Other Long-Lived Assets Depreciation and amortization for property, plant and equipment, and intangible assets subject to amortization, are generally computed by the straight-line method and included in Cost of products sold, Selling and administrative expense, and Research and development expense, as appropriate. Cost of buildings are depreciated generally over 40 years and machinery and equipment over 3 to 10 years. At December 31, 2020, the weighted-average amortization period for intangible assets subject to amortization was 18 years for patents and technology; 17 years for customer relationships; and 18 for certain trademarks. Software is amortized over 5 to 15 years. Other long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Upon indications of impairment, assets and liabilities are grouped at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The asset group would be considered impaired when the estimated future net undiscounted cash flows generated by the asset group are less than its carrying value. Determining asset groups and underlying cash flows requires the use of significant judgment. Retirement Benefits Plans For the principal pension plans in the United States, Canada, Puerto Rico, and the United Kingdom, the Company uses a market-related value of plan assets to calculate the expected return on assets used to determine net periodic benefit costs. The market-related value of plan assets is a calculated value that recognizes changes in the fair value of plan assets over a five year period. All other plans use fair value of plan assets. Net actuarial gains or losses are amortized to expense on a plan-by-plan basis when they exceed the accounting corridor. The Company’s corridors are set at either 8% or 10%, depending on the plan, of the greater of the plan assets or benefit obligations. Gains or losses outside of the corridor are subject to amortization over an average employee future service period that differs by plan. If most or all of the plan’s participants are no longer actively accruing benefits, the average life expectancy is used. The amortization periods on a weighted average basis for United States and Non-United States pension plans are approximately 23 years and 10 years, respectively. The amortization period for other postretirement benefits plans is 7 years. Asset Retirement Obligations A conditional asset retirement obligation is recognized at fair value when incurred if the fair value of the liability can be reasonably estimated. Uncertainty about the timing or method of settlement of a conditional asset retirement obligation would be considered in the measurement of the liability when sufficient information exists. Eaton believes that for substantially all of its asset retirement obligations, there is an indeterminate settlement date because the range of time over which the Company may settle the obligation is unknown or cannot be estimated. A liability for these obligations will be recognized when sufficient information is available to estimate fair value. Income Taxes Deferred income tax assets and liabilities are determined based on the difference between the financial statement and tax basis of the respective assets and liabilities, using enacted tax rates in effect for the year when the differences are expected to reverse. Deferred income tax assets are recognized for income tax loss carryforwards and income tax credit carryforwards. Judgment is required in determining and evaluating income tax provisions and valuation allowances for deferred income tax assets. Eaton recognizes an income tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Eaton evaluates and adjusts these accruals based on changing facts and circumstances. Eaton recognizes interest and penalties related to unrecognized income tax benefits in the provision for income tax expense. Eaton's policy is to recognize income tax effects from accumulated other comprehensive income when individual units of account are sold, terminated, or extinguished. For additional information about income taxes, see Note 11. Derivative Financial Instruments and Hedging Activities Eaton uses derivative financial instruments to manage the exposure to the volatility in raw material costs, currency, and interest rates on certain debt. These instruments are marked to fair value in the accompanying Consolidated Balance Sheets. Changes in the fair value of derivative assets or liabilities (i.e., gains or losses) are recognized depending upon the type of hedging relationship and whether an instrument has been designated as a hedge. For those instruments that qualify for hedge accounting, Eaton designates the hedging instrument, based upon the exposure being hedged, as a cash flow hedge, a fair value hedge, or a hedge of a net investment in a foreign operation. Changes in fair value of these instruments that do not qualify for hedge accounting are recognized immediately in net income. See Note 15 for additional information about hedges and derivative financial instruments.

ACQUISITIONS AND DIVESTITURES O

ACQUISITIONS AND DIVESTITURES OF BUSINESSES	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
ACQUISITIONS AND DIVESTITURES OF BUSINESSES	ACQUISITIONS AND DIVESTITURES OF BUSINESSES Acquisition of controlling interest of Ulusoy Elektrik Imalat Taahhut ve Ticaret A.S. On April 15, 2019, Eaton completed the acquisition of an 82.275% controlling interest in Ulusoy Elektrik Imalat Taahhut ve Ticaret A.S. (Ulusoy Elektrik), a leading manufacturer of electrical switchgear based in Ankara, Turkey, with a primary focus on medium voltage solutions for industrial and utility customers. Its sales for the 12 months ended September 30, 2018 were $126. The purchase price for the shares was $214 on a cash and debt free basis. As required by the Turkish capital markets legislation, Eaton filed an application to execute a mandatory tender offer for the remaining shares shortly after the transaction closed. During the tender offer, Eaton purchased additional shares for $33 to increase its ownership interest to 93.7%. Ulusoy Elektrik is reported within the Electrical Global business segment. Acquisition of Innovative Switchgear Solutions, Inc. On July 19, 2019, Eaton acquired Innovative Switchgear Solutions, Inc. (ISG), a specialty manufacturer of medium-voltage electrical equipment serving the North American utility, commercial and industrial markets. Its 2018 sales were approximately $18. ISG is reported within the Electrical Americas business segment. Acquisition of Souriau-Sunbank Connection Technologies On December 20, 2019, Eaton acquired the Souriau-Sunbank Connection Technologies (Souriau-Sunbank) business of TransDigm Group Inc. for a cash purchase price of $907, net of cash received. Headquartered in Versailles, France, Souriau-Sunbank is a global leader in highly engineered electrical interconnect solutions for harsh environments in the aerospace, defense, industrial, energy, and transport markets. Souriau-Sunbank is reported within the Aerospace business segment. The acquisition of Souriau-Sunbank has been accounted for using the acquisition method of accounting which requires the assets acquired and liabilities assumed be recognized at their respective fair values on the acquisition date. During the measurement period which ended in December 2020, opening balance sheet adjustments were made to finalize Eaton's fair value estimates based on the final valuations received related primarily to intangible assets, goodwill, and the related deferred tax impact, as follows: Preliminary Measurement Period Final Accounts Receivable - net $ 60 $ — $ 60 Inventory 121 4 125 Prepaid expenses and other current assets 5 (1) 4 Property, plant and equipment 101 2 103 Other intangible assets 385 (15) 370 Other assets 8 — 8 Accounts payable (34) 1 (33) Other current liabilities (51) (7) (58) Other noncurrent liabilities (130) 4 (126) Total identifiable net assets 465 (12) 453 Noncontrolling interests (4) 1 (3) Goodwill 442 15 457 Total consideration, net of cash received $ 903 $ 4 $ 907 Goodwill is calculated as the excess of the consideration transferred over the fair value of net assets recognized and represents the anticipated synergies of acquiring Souriau-Sunbank. Goodwill recognized as a result of the acquisition is not deductible for tax purposes. The estimated fair values of the customer relationships and technology intangible assets were $250 and $95, respectively. The Company generally determines the fair value of intangible assets acquired using third-party valuations that are prepared using discounted cash flow models that rely on the Company's estimates. These estimates require judgment of future revenue growth rates, future margins, and the applicable weighted-average cost of capital used to discount those estimated cash flows. The estimated weighted-average useful lives was 20 years for customer relationships and 15 years for technology intangible assets. See Note 6 for additional information about goodwill and other intangible assets. Eaton’s Consolidated Financial Statements include Souriau-Sunbank’s results of operations. Souriau-Sunbank's sales for the years ended December 31, 2020 and 2019 were $287 and $3, respectively. Sale of Automotive Fluid Conveyance business On December 31, 2019, Eaton sold its Automotive Fluid Conveyance Business. The transaction resulted in a pre-tax loss of $66 which was recorded in Other expense - net. This business was reported within the Vehicle business segment. Acquisition of Power Distribution, Inc. On February 25, 2020, Eaton acquired Power Distribution, Inc. a leading supplier of mission critical power distribution, static switching, and power monitoring equipment and services for data centers and industrial and commercial customers. The company is headquartered in Richmond, Virginia, and had 2019 sales of $125. Power Distribution, Inc. is reported within the Electrical Americas business segment. Sale of Lighting business On March 2, 2020, Eaton sold its Lighting business to Signify N.V. for a cash purchase price of $1.4 billion. The Company recognized a pre-tax gain of $221. The Lighting business, which had sales of $1.6 billion in 2019 as part of the Electrical Americas business segment, serves customers in commercial, industrial, residential, and municipal markets. Pending Sale of Hydraulics business On January 21, 2020, Eaton entered into an agreement to sell its Hydraulics business to Danfoss A/S, a Danish industrial company, for $3.3 billion in cash. Eaton’s Hydraulics business is a global leader in hydraulics components, systems, and services for industrial and mobile equipment. The business had sales of $1.8 billion and $2.2 billion for the years ended December 31, 2020 and 2019, respectively. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close by the end of the first quarter or early second quarter of 2021. Assets and liabilities held for sale During the fourth quarter of 2019 and first quarter of 2020, the Company determined the Lighting business and Hydraulics business, respectively, met the criteria to be classified as held for sale. Therefore, assets and liabilities of these businesses have been presented as held for sale in the Consolidated Balance Sheets as of December 31, 2019 and December 31, 2020, respectively. Assets and liabilities classified as held for sale are measured at the lower of carrying value or fair value less costs to sell. There was no write-down as fair values of both the Lighting business and Hydraulics business assets less their costs to sell exceeded their respective carrying value. Depreciation and amortization expense is not recorded for the period in which Other long-lived assets are classified as held for sale. The Company used the relative fair value method to allocate goodwill to both the Lighting and Hydraulics businesses. The fair values of the Lighting business and Hydraulics business were estimated based on a combination of the prices paid to Eaton by Signify N.V. and Danfoss A/S, respectively, and a discounted cash flow model. The model includes estimates of future cash flows, future growth rates, terminal value amounts, and the applicable weighted-average cost of capital used to discount those estimated cash flows. The weighted-average cost of capital is an estimate of the overall after-tax rate of return required by equity and debt market holders of a business enterprise. These analyses require the exercise of judgments, including judgments about appropriate discount rates, perpetual growth rates, revenue growth, and margin assumptions. The assets and liabilities classified as held for sale for the Lighting business on the December 31, 2019 Consolidated Balance Sheet and the Hydraulics business on the December 31, 2020 Consolidated Balance Sheet are as follows: December 31, 2020 December 31, 2019 Accounts receivable $ 345 $ 220 Inventory 369 161 Prepaid expenses and other current assets 18 10 Net property, plant and equipment 504 155 Goodwill 920 470 Other intangible assets 248 330 Operating lease assets 61 25 Deferred income taxes 6 — Other noncurrent assets 16 6 Assets held for sale - current $ 2,487 $ 1,377 Accounts payable $ 241 $ 184 Accrued compensation 26 7 Other current liabilities 101 102 Pension liabilities 60 3 Operating lease liabilities 35 17 Deferred income taxes 3 (1) Other noncurrent liabilities 2 13 Liabilities held for sale - current $ 468 $ 325 The Lighting business and Hydraulics business did not meet the criteria to be classified as discontinued operations as neither of these sales represent a strategic shift that will have a major effect on the Company's operations. Agreement to Acquire a 50% stake in HuanYu High Tech On December 15, 2020, Eaton signed an agreement to acquire a 50 percent stake in HuanYu High Tech, a subsidiary of HuanYu Group that manufactures and markets low-voltage circuit breakers and contactors in China, and throughout the Asia-Pacific region. HuanYu High Tech had 2019 sales of $106 and has production operations in Wenzhou, China. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the second quarter of 2021. Eaton expects to account for this investment on the equity method of accounting and will report it within the Electrical Global business segment. Agreement to Acquire Tripp Lite On January 28, 2021, Eaton signed an agreement to acquire Tripp Lite, a leading supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures for data centers, industrial, medical, and communications markets in the Americas. Under the terms of the agreement, Eaton will pay $1.65 billion for Tripp Lite. The transaction is subject to customary closing conditions and is expected to close in the middle of 2021. Tripp Lite will be reported within the Electrical Americas business segment. Agreement to Acquire Cobham Mission Systems On January 31, 2021, Eaton signed an agreement to acquire Cobham Mission Systems (CMS), a leading manufacturer of air-to-air refueling systems, environmental systems, and actuation primarily for defense markets. Under the terms of the agreement, Eaton will pay $2.83 billion. The transaction is subject to customary closing conditions and is expected to close in the second half of 2021. CMS will be reported within the Aerospace business segment.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Sales are recognized when obligations under the terms of the contract are satisfied and control of promised goods or services have transferred to our customers. Sales are measured at the amount of consideration the Company expects to be paid in exchange for these products or services. The majority of the Company’s sales agreements contain performance obligations satisfied at a point in time when title and risk and rewards of ownership have transferred to the customer. Sales recognized over time are less than 5% of Eaton’s Consolidated Net Sales. Sales recognized over time are generally accounted for using an input measure to determine progress completed at the end of the period. Sales for service contracts generally are recognized as the services are provided. For agreements with multiple performance obligations, judgment is required to determine whether performance obligations specified in these agreements are distinct and should be accounted for as separate revenue transactions for recognition purposes. In these types of agreements, we generally allocate sales price to each distinct obligation based on the price of each item sold in separate transactions. Due to the nature of the work required to be performed for obligations recognized over time, Eaton estimates total costs by contract. The estimate of total costs are subject to judgment. Estimated amounts are included in the recognized sales price to the extent it is not probable that a significant reversal of cumulative sales will occur. Additionally, contracts can be modified to account for changes in contract specifications, requirements or sale price. The effect of a contract modification on the sales price or adjustments to the measure of completion under the input method are recognized as adjustments to revenue on a cumulative catch-up basis. Payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized and when payment is due is not significant. Eaton does not evaluate whether the selling price includes a financing interest component for contracts that are less than a year. Sales, value added, and other taxes collected concurrent with revenue are excluded from sales. Shipping and handling costs are treated as fulfillment costs and are included in Cost of products sold. Eaton records reductions to sales for returns, and customer and distributor incentives, primarily comprised of rebates, at the time of the initial sale. Rebates are estimated based on sales terms, historical experience, trend analysis, and projected market conditions in the various markets served. The rebate programs offered vary across businesses due to the numerous markets Eaton serves, but the most common incentives relate to amounts paid or credited to customers for achieving defined volume levels. Returns are estimated at the time of the sale primarily based on historical experience and are recorded gross on the Consolidated Balance Sheet. Sales commissions are expensed when the amortization period is less than a year and are generally not capitalized as they are typically earned at the completion of the contract when the customer is invoiced or when the customer pays Eaton. Sales of products and services varies by segment and are discussed in Note 17. In the Electrical Americas segment, sales contracts are primarily for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and services that are primarily produced and sold in North and South America. The majority of the sales in this segment contain performance obligations satisfied at a point in time either when we ship the product from our facility, or when it arrives at the customer’s facility. However, certain power distribution and power quality services are recognized over time. In the Electrical Global segment, sales contracts are primarily for electrical components, industrial components, power distribution and assemblies, single phase and three phase power quality, and services that are primarily produced and sold outside of North and South America, as well as hazardous duty electrical equipment, emergency lighting, fire detection, intrinsically safe explosion-proof instrumentation, and structural support systems that are produced and sold globally. The majority of the sales contracts in this segment contain performance obligations satisfied at a point in time either when we ship the product from our facility, or when it arrives at the customer’s facility. However, certain power distribution and power quality services are recognized over time. Many of the products and services in power distribution and power quality services meet the definition of continuous transfer of control to customers and are recognized over time. These products are engineered to a customer’s design specifications, have no alternative use to Eaton, and are controlled by the customer as evidenced by the customer’s contractual ownership of the work in process or our right to payment for work performed to date plus a reasonable margin. As control is transferring over time, sales are recognized based on the extent of progress towards completion of the obligation. Eaton generally uses an input method to determine the progress completed and sales are recorded proportionally as costs are incurred. Incurred costs represent work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. In the Hydraulics segment, sales contracts are primarily for hydraulic components and systems for industrial and mobile equipment. These sales contracts are primarily based on a customer’s purchase order. In this segment, performance obligations are generally satisfied at a point in time when we ship the product from our facility. In the Aerospace segment, sales contracts are primarily for aerospace fuel, hydraulics, and pneumatic systems for commercial and military use, as well as filtration systems for industrial applications. These sales contracts are primarily based on a customer’s purchase order, and frequently covered by terms and conditions included in a long-term agreement. In this segment, performance obligations are generally satisfied at a point in time either when we ship the product from our facility, or when it arrives at the customer’s facility. Our military contracts are primarily fixed-price contracts that are not subject to performance-based payments or progress payments from the customer. In the Vehicle segment, sales contracts are primarily for drivetrains, powertrain systems and critical components that reduce emissions and improve fuel economy, stability, performance, and safety of cars, light trucks, and commercial vehicles. These sales contracts are primarily based on a customer’s purchase order or a blanket purchase order subject to firm releases, frequently covered by terms and conditions included in a master supply agreement. In this segment, performance obligations are generally satisfied at a point in time either when we ship the product from our facility, or when it arrives at the customer’s facility. In the eMobility segment, sales contracts are primarily for electronic and mechanical components and systems that improves the power management and performance of both on-road and off-road vehicles. These sales contracts are primarily based on a customer’s purchase order. In this segment, performance obligations are generally satisfied at a point in time either when we ship the product from our facility, or when it arrives at the customer’s facility. In limited circumstances, primarily in the Electrical and Vehicle segments, Eaton sells separately-priced warranties that extend the warranty coverage beyond the standard coverage offered on specific products. Sales for these separately-priced warranties are recorded based on their stand-alone selling price and are recognized as revenue over the length of the warranty period. The Company’s six operating segments and the following tables disaggregate sales by lines of businesses, geographic destination, market channel or end market. 2020 Net sales Products Systems Total Electrical Americas $ 2,255 $ 4,425 $ 6,680 Electrical Global 2,608 2,095 4,703 United States Rest of World Hydraulics $ 796 $ 1,046 1,842 Original Equipment Manufacturers Aftermarket Industrial and Other Aerospace $ 986 $ 685 $ 552 2,223 Commercial Passenger and Light Duty Vehicle $ 1,060 $ 1,058 2,118 eMobility 292 Total $ 17,858 2019 Net sales Products Systems Total Electrical Americas $ 3,675 $ 4,500 $ 8,175 Electrical Global 2,782 2,390 5,172 United States Rest of World Hydraulics $ 1,000 $ 1,204 2,204 Original Equipment Manufacturers Aftermarket Industrial and Other Aerospace $ 1,178 $ 859 $ 443 2,480 Commercial Passenger and Light Duty Vehicle $ 1,538 $ 1,500 3,038 eMobility 321 Total $ 21,390 2018 Net sales Products Systems Total Electrical Americas $ 3,577 $ 4,337 $ 7,914 Electrical Global 2,832 2,327 5,159 United States Rest of World Hydraulics $ 1,078 $ 1,314 2,392 Original Equipment Manufacturers Aftermarket Industrial and Other Aerospace $ 1,102 $ 766 $ 467 2,335 Commercial Passenger and Light Duty Vehicle $ 1,759 $ 1,730 3,489 eMobility 320 Total $ 21,609 The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (revenue recognized exceeds amount billed to the customer), and deferred revenue (advance payments and billings in excess of revenue recognized). Accounts receivables from customers were $2,539 and $3,090 at December 31, 2020 and December 31, 2019, respectively. Amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. These assets and liabilities are reported on the Consolidated Balance Sheets on a contract-by-contract basis at the end of each reporting period. Unbilled receivables were $90 and $101 at December 31, 2020 and December 31, 2019, respectively, and are recorded in Prepaid expenses and other current assets. The decrease in unbilled receivables was primarily due to billings to customers during 2020, partially offset by revenue recognized and not yet billed. Changes in the deferred revenue liabilities are as follows: Deferred Revenue Balance at January 1, 2019 $ 248 Customer deposits and billings 982 Revenue recognized in the period (993) Translation 3 Deferred revenue reclassified to held for sale (6) Balance at December 31, 2019 $ 234 Customer deposits and billings 1,041 Revenue recognized in the period (1,014) Translation 7 Deferred revenue reclassified to held for sale (11) Balance at December 31, 2020 $ 257 A significant portion of open orders placed with Eaton are by original equipment manufacturers or distributors. These open orders are not considered firm as they have been historically subject to releases by customers. In measuring backlog of unsatisfied or partially satisfied obligations, only the amount of orders to which customers are firmly committed are included. Using this criterion, total backlog at December 31, 2020 was approximately $5.6 billion. At December 31, 2020, Eaton expects to recognize approximately 88% of this backlog in the next twelve months and the rest thereafter.

CREDIT LOSSES FOR RECEIVABLES

CREDIT LOSSES FOR RECEIVABLES	12 Months Ended
	Dec. 31, 2020
Credit Loss [Abstract]
CREDIT LOSSES FOR RECEIVABLES	CREDIT LOSSES FOR RECEIVABLES Receivables are exposed to credit risk based on the customers' ability to pay which is influenced by, among other factors, their financial liquidity position. Eaton's receivables are generally short-term in nature with a majority outstanding less than 90 days. Eaton performs ongoing credit evaluation of its customers and maintains sufficient allowances for potential credit losses. The Company evaluates the collectability of its receivables based on the length of time the receivable is past due, and any anticipated future write-off based on historic experience adjusted for market conditions. The Company's segments, supported by our global credit department, perform the credit evaluation and monitoring process to estimate and manage credit risk. The process includes an evaluation of credit losses for both the overall segment receivable and specific customer balances. The process also includes review of customer financial information and credit ratings, approval and monitoring of customer credit limits, and an assessment of market conditions. The Company may also require prepayment from customers to mitigate credit risk. Receivable balances are written off against an allowance for credit losses after a final determination of collectability has been made. Accounts receivable are net of an allowance for credit losses of $48 and $49 at December 31, 2020 and 2019. The change in the allowance for credit losses includes expense and net write-offs, none of which is significant.

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory is carried at lower of cost or net realizable value using the first-in, first-out (FIFO) method. Cost components include raw materials, purchased components, direct labor, indirect labor, utilities, depreciation, inbound freight charges, purchasing and receiving costs, inspection costs, warehousing costs, and costs of the distribution network. The components of inventory follow: December 31 2020 2019 Raw materials $ 803 $ 986 Work-in-process 498 640 Finished goods 808 1,179 Total inventory $ 2,109 $ 2,805

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Changes in the carrying amount of goodwill by segment follow: January 1, 2019 Additions Goodwill reclassified to held for sale Translation December 31, 2019 Additions Goodwill reclassified to held for sale Translation December 31, 2020 Electrical Americas $ 6,819 $ 8 $ (470) $ (5) $ 6,352 $ 97 $ — $ 7 $ 6,456 Electrical Global 3,942 155 — 9 4,106 7 — 182 4,295 Hydraulics 931 — — (10) 921 — (907) (14) — Aerospace 1,264 442 — — 1,706 15 — 56 1,777 Vehicle 292 — — (1) 291 — — 2 293 eMobility 80 — — — 80 — — 2 82 Total $ 13,328 $ 605 $ (470) $ (7) $ 13,456 $ 119 $ (907) $ 235 $ 12,903 During the first quarter of 2020, Eaton re-segmented certain reportable operating segments due to a reorganization of the Company's businesses. The Company used the relative fair value method to reallocate goodwill to the associated reporting units impacted by the reorganization resulting in goodwill of $6.4 billion and $4.0 billion being allocated to the Electrical Americas and Electrical Global reportable segments, respectively. The Company’s reporting units are equivalent to the reportable operating segments, except for the Aerospace segment which has two reporting units. The fair values of the Electrical Americas and Electrical Global reportable segments were estimated based on a discounted cash flow model. The model includes estimates of future cash flows, future growth rates, terminal value amounts, and the applicable weighted-average cost of capital used to discount those estimated cash flows. The weighted-average cost of capital is an estimate of the overall after-tax rate of return required by equity and debt market holders of a business enterprise. These analyses require the exercise of judgments, including judgments about appropriate discount rates, perpetual growth rates, revenue growth, and margin assumptions. The fair value of the Hydraulics reportable segment was estimated based on a combination of the price to be paid to Eaton by Danfoss A/S and a discounted cash flow model. See Note 2 for additional information about the allocation of goodwill to the Hydraulics reportable segment. The Filtration and Golf Grip businesses previously included in the Hydraulics reportable segment, and the electrical aerospace connectors business previously included in the Electrical Products segment, have been added to the Aerospace segment as part of the reorganization. The 2020 additions to goodwill primarily relate to the anticipated synergies of acquiring Power Distribution, Inc. The 2019 additions to goodwill relate to the anticipated synergies of acquiring Souriau-Sunbank, Ulusoy Elektrik and ISG. A summary of other intangible assets follows: December 31 2020 2019 Historical Accumulated Historical Accumulated Intangible assets not subject to amortization Trademarks $ 1,382 $ 1,516 Intangible assets subject to amortization Customer relationships $ 3,415 $ 1,795 $ 3,260 $ 1,634 Patents and technology 1,428 773 1,542 704 Trademarks 970 505 1,057 457 Other 91 38 92 34 Total intangible assets subject to amortization $ 5,904 $ 3,111 $ 5,951 $ 2,829 Amortization expense related to intangible assets subject to amortization in 2020, and estimated amortization expense for each of the next five years, follows: 2020 $ 342 2021 339 2022 331 2023 287 2024 277 2025 273

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
LEASES	LEASES Eaton leases certain manufacturing facilities, warehouses, distribution centers, office space, vehicles, and equipment. Most real estate leases contain renewal options. The exercise of lease renewal options is at the Company's sole discretion. The Company's lease agreements typically do not contain any significant guarantees of asset values at the end of a lease or restrictive covenants. Payments within certain lease agreements are adjusted periodically for changes in an index or rate. The components of lease expense follows: 2020 2019 Operating lease cost $ 184 $ 166 Finance lease cost: Amortization of lease assets 6 5 Interest on lease liabilities 1 1 Short-term lease cost 18 46 Variable lease cost 3 22 Sublease income (2) (3) Total lease cost $ 210 $ 237 Rental expense was $232 for the year ended December 31, 2018. The net gains recorded on sale leaseback transactions were $9 and $16 for the years ended December 31, 2020 and 2019, respectively. Supplemental cash flow information related to leases follows: 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - payments on operating leases $ (144) $ (168) Operating cash outflows - interest payments on finance leases (1) (1) Financing cash outflows - payments on finance lease obligations (8) (6) Lease assets obtained in exchange for new lease obligations, including leases acquired: Operating leases $ 144 $ 114 Finance leases 16 24 Supplemental balance sheet information related to leases follows: December 31 2020 2019 Operating Leases Operating lease assets $ 428 $ 436 Other current liabilities 116 121 Operating lease liabilities 326 331 Total operating lease liabilities $ 442 $ 452 Finance Leases Land and buildings $ 13 $ 24 Machinery and equipment 38 18 Accumulated depreciation (16) (16) Net property, plant and equipment $ 35 $ 26 Current portion of long-term debt $ 8 $ 6 Long-term debt 30 21 Total finance lease liabilities $ 38 $ 27 Weighted-average remaining lease term Operating leases 5.5 years 5.1 years Finance leases 7.4 years 6.8 years Weighted-average discount rate Operating leases 3.3 % 3.7 % Finance leases 3.5 % 7.6 % Maturities of lease liabilities at December 31, 2020 follows: Operating Leases Finance Leases 2021 $ 129 $ 10 2022 103 8 2023 78 6 2024 54 5 2025 30 2 Thereafter 91 11 Total lease payments 485 42 Less imputed interest 43 4 Total present value of lease liabilities $ 442 $ 38
LEASES	LEASES Eaton leases certain manufacturing facilities, warehouses, distribution centers, office space, vehicles, and equipment. Most real estate leases contain renewal options. The exercise of lease renewal options is at the Company's sole discretion. The Company's lease agreements typically do not contain any significant guarantees of asset values at the end of a lease or restrictive covenants. Payments within certain lease agreements are adjusted periodically for changes in an index or rate. The components of lease expense follows: 2020 2019 Operating lease cost $ 184 $ 166 Finance lease cost: Amortization of lease assets 6 5 Interest on lease liabilities 1 1 Short-term lease cost 18 46 Variable lease cost 3 22 Sublease income (2) (3) Total lease cost $ 210 $ 237 Rental expense was $232 for the year ended December 31, 2018. The net gains recorded on sale leaseback transactions were $9 and $16 for the years ended December 31, 2020 and 2019, respectively. Supplemental cash flow information related to leases follows: 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - payments on operating leases $ (144) $ (168) Operating cash outflows - interest payments on finance leases (1) (1) Financing cash outflows - payments on finance lease obligations (8) (6) Lease assets obtained in exchange for new lease obligations, including leases acquired: Operating leases $ 144 $ 114 Finance leases 16 24 Supplemental balance sheet information related to leases follows: December 31 2020 2019 Operating Leases Operating lease assets $ 428 $ 436 Other current liabilities 116 121 Operating lease liabilities 326 331 Total operating lease liabilities $ 442 $ 452 Finance Leases Land and buildings $ 13 $ 24 Machinery and equipment 38 18 Accumulated depreciation (16) (16) Net property, plant and equipment $ 35 $ 26 Current portion of long-term debt $ 8 $ 6 Long-term debt 30 21 Total finance lease liabilities $ 38 $ 27 Weighted-average remaining lease term Operating leases 5.5 years 5.1 years Finance leases 7.4 years 6.8 years Weighted-average discount rate Operating leases 3.3 % 3.7 % Finance leases 3.5 % 7.6 % Maturities of lease liabilities at December 31, 2020 follows: Operating Leases Finance Leases 2021 $ 129 $ 10 2022 103 8 2023 78 6 2024 54 5 2025 30 2 Thereafter 91 11 Total lease payments 485 42 Less imputed interest 43 4 Total present value of lease liabilities $ 442 $ 38

DEBT

DEBT	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
DEBT	DEBT A summary of long-term debt, including the current portion, follows: December 31 2020 2019 3.875% debentures due 2020 ($150 converted to floating rate by interest rate swap) $ — $ 239 3.47% notes due 2021 ($275 converted to floating rate by interest rate swap) 300 300 0.02% Euro notes due 2021 737 674 8.10% debentures due 2022 ($100 converted to floating rate by interest rate swap) 100 100 2.75% senior notes due 2022 ($1,400 converted to floating rate by interest rate swap) 1,600 1,600 3.68% notes due 2023 ($200 converted to floating rate by interest rate swap) 300 300 0.75% Euro notes due 2024 676 617 6.50% debentures due 2025 145 145 0.70% Euro notes due 2025 614 562 3.10% senior notes due 2027 700 700 7.65% debentures due 2029 ($50 converted to floating rate by interest rate swap) 200 200 4.00% senior notes due 2032 700 700 5.45% debentures due 2034 ($25 converted to floating rate by interest rate swap) 136 137 5.80% notes due 2037 240 240 4.15% senior notes due 2042 1,000 1,000 3.92% senior notes due 2047 300 300 5.25% to 7.875% notes (maturities ranging from 2024 to 2035, including $25 converted to floating rate by interest rate swap) 165 165 Other 144 88 Total long-term debt 8,057 8,067 Less current portion of long-term debt (1,047) (248) Long-term debt less current portion $ 7,010 $ 7,819 Substantially all these long-term debt instruments are fully and unconditionally guaranteed on an unsubordinated, unsecured basis by Eaton and certain of its direct and indirect subsidiaries (the Senior Notes). Further, as of December 31, 2020 all of these long-term debt instruments, except the 3.47% notes due 2021, the 0.02% Euro notes due 2021, the 3.68% notes due 2023, the 0.75% Euro notes due 2024, and the 0.70% Euro notes due 2025, are registered by Eaton Corporation under the Securities Act of 1933, as amended (the Registered Senior Notes). The Company maintains long-term revolving credit facilities totaling $2,000, consisting of a $750 five four five Eaton is in compliance with each of its debt covenants for all periods presented. Maturities of long-term debt for each of the next five years follow: 2021 $ 1,047 2022 1,708 2023 306 2024 746 2025 762 Interest paid on debt follows: 2020 $ 216 2019 279 2018 313

RETIREMENT BENEFITS PLANS

RETIREMENT BENEFITS PLANS	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
RETIREMENT BENEFITS PLANS	RETIREMENT BENEFITS PLANS Eaton has defined benefits pension plans and other postretirement benefits plans. Obligations and Funded Status United States Non-United States Other postretirement 2020 2019 2020 2019 2020 2019 Funded status Fair value of plan assets $ 3,463 $ 3,433 $ 2,137 $ 1,903 $ 20 $ 23 Benefit obligations (4,121) (4,028) (3,036) (2,747) (375) (378) Funded status $ (658) $ (595) $ (899) $ (844) $ (355) $ (355) Amounts recognized in the Consolidated Non-current assets $ — $ — $ 95 $ 73 $ — $ — Current liabilities (36) (23) (28) (27) (25) (27) Non-current liabilities (622) (572) (966) (890) (330) (328) Total $ (658) $ (595) $ (899) $ (844) $ (355) $ (355) Amounts recognized in Accumulated other Net actuarial (gain) loss $ 1,046 $ 1,096 $ 1,005 $ 879 $ 1 $ (8) Prior service cost (credit) 5 7 21 25 (3) (17) Total $ 1,051 $ 1,103 $ 1,026 $ 904 $ (2) $ (25) Change in Benefit Obligations United States Non-United States Other postretirement 2020 2019 2020 2019 2020 2019 Balance at January 1 $ 4,028 $ 3,633 $ 2,747 $ 2,285 $ 378 $ 378 Service cost 97 91 73 58 2 2 Interest cost 103 138 45 57 9 14 Actuarial (gain) loss 223 435 217 315 11 14 Gross benefits paid (330) (270) (121) (102) (49) (60) Currency translation — — 137 47 2 2 Plan amendments — 1 1 — — 1 Acquisitions and divestitures — — — (4) — — Benefit obligation reclassified to held for sale — — (65) (4) — — Other — — 2 95 22 27 Balance at December 31 $ 4,121 $ 4,028 $ 3,036 $ 2,747 $ 375 $ 378 Accumulated benefit obligation $ 4,054 $ 3,883 $ 2,862 $ 2,592 Actuarial losses related to changes in the United States and Non-United States benefit obligations in 2020 of $223 and $217, respectively, were primarily due to decreases in the discount rates used to measure the obligations, partially offset by curtailment gains related to amendments to freeze the Company's Unites States pension plans for its non-union employees. The freeze is effective January 1, 2021 for non-union U.S. employees whose retirement benefit was determined under a cash balance formula and effective January 1, 2026 for non-union U.S. employees whose retirement benefit is determined under a final average pay formula. Actuarial losses related to changes in the United States and Non-United States benefit obligations in 2019 of $435 and $315, respectively, were primarily due to decreases in the discount rates used to measure the obligations. Change in Plan Assets United States Non-United States Other postretirement 2020 2019 2020 2019 2020 2019 Balance at January 1 $ 3,433 $ 3,068 $ 1,903 $ 1,560 $ 23 $ 37 Actual return on plan assets 342 618 185 230 1 5 Employer contributions 18 17 104 102 23 15 Gross benefits paid (330) (270) (121) (102) (49) (60) Currency translation — — 69 58 — — Plan assets reclassified to held for sale — — (5) — — — Other — — 2 55 22 26 Balance at December 31 $ 3,463 $ 3,433 $ 2,137 $ 1,903 $ 20 $ 23 The components of pension plans with an accumulated benefit obligation in excess of plan assets at December 31 follow: United States Non-United States 2020 2019 2020 2019 Accumulated benefit obligation $ 4,054 $ 3,883 $ 2,586 $ 1,028 Fair value of plan assets 3,463 3,433 1,756 242 The components of pension plans with a projected benefit obligation in excess of plan assets at December 31 follow: United States Non-United States 2020 2019 2020 2019 Projected benefit obligation $ 4,121 $ 4,028 $ 2,763 $ 2,502 Fair value of plan assets 3,463 3,433 1,770 1,585 Other postretirement benefit plans with accumulated postretirement benefit obligations in excess of plan assets have been disclosed in the Obligations and Funded Status table. Changes in pension and other postretirement benefit liabilities recognized in Accumulated other comprehensive loss follow: United States Non-United States Other postretirement 2020 2019 2020 2019 2020 2019 Balance at January 1 $ 1,103 $ 1,160 $ 904 $ 710 $ (25) $ (52) Prior service cost arising during the year — 1 1 — — 1 Net loss (gain) arising during the year 112 52 141 231 10 11 Currency translation — — 48 15 — 1 Other — — 2 — — — Less amounts included in expense during the year (164) (110) (70) (52) 13 14 Net change for the year (52) (57) 122 194 23 27 Balance at December 31 $ 1,051 $ 1,103 $ 1,026 $ 904 $ (2) $ (25) Benefits Expense United States Non-United States Other postretirement 2020 2019 2018 2020 2019 2018 2020 2019 2018 Service cost $ 97 $ 91 $ 100 $ 73 $ 58 $ 63 $ 2 $ 2 $ 2 Interest cost 103 138 122 45 57 52 9 14 13 Expected return on plan assets (231) (235) (253) (109) (106) (105) — (2) (3) Amortization 102 62 94 60 38 39 (13) (14) (13) 71 56 63 69 47 49 (2) — (1) Settlements, curtailments and special termination benefits 62 48 46 10 14 2 — — — Total expense $ 133 $ 104 $ 109 $ 79 $ 61 $ 51 $ (2) $ — $ (1) Total pension benefits expense of $165 for 2019 includes $8 of settlement expense related to the sale of the Automotive Fluid Conveyance Business discussed in Note 2. The components of retirement benefits expense other than service costs are included in Other expense - net. Retirement Benefits Plans Assumptions In 2018, 2019, and 2020, for purposes of determining liabilities related to the majority of its plans in the United States, the Company used mortality tables that are based on the Company's own experience and generational improvement scales that are based on MP-2018, MP-2019, and MP-2020, respectively. To estimate the service and interest cost components of net periodic benefit cost for the vast majority of its defined benefits pension and other postretirement benefits plans, the Company used a spot rate approach by applying the specific spot rates along the yield curve used to measure the benefit obligation at the beginning of the period to the relevant projected cash flows. Pension Plans United States Non-United States 2020 2019 2018 2020 2019 2018 Assumptions used to determine benefit obligation at year-end Discount rate 2.48 % 3.22 % 4.28 % 1.59 % 2.02 % 2.83 % Rate of compensation increase 3.12 % 3.14 % 3.14 % 3.02 % 3.05 % 3.10 % Interest rate used to credit cash balance plans 2.02 % 2.59 % 3.13 % 0.53 % 0.54 % 2.60 % Assumptions used to determine expense Discount rate used to determine benefit obligation 3.22 % 4.28 % 3.64 % 2.02 % 2.83 % 2.62 % Discount rate used to determine service cost 3.34 % 4.39 % 3.78 % 2.78 % 4.02 % 3.54 % Discount rate used to determine interest cost 2.75 % 3.94 % 3.19 % 1.82 % 2.56 % 2.31 % Expected long-term return on plan assets 7.25 % 7.25 % 7.52 % 5.84 % 6.42 % 6.40 % Rate of compensation increase 3.14 % 3.14 % 3.15 % 3.05 % 3.10 % 3.11 % Interest rate used to credit cash balance plans 2.59 % 3.13 % 3.02 % 0.54 % 2.60 % 2.91 % The expected long-term rate of return on pension assets was determined for each country and reflects long-term historical data taking into account each plan's target asset allocation. The expected long-term rates of return on pension assets for United States pension plans and Non-United States pension plans for 2021 are 6.75% and 5.62%, respectively. The discount rates were determined using appropriate bond data for each country. Other Postretirement Benefits Plans Substantially all of the obligation for other postretirement benefits plans relates to United States plans. Assumptions used to determine other postretirement benefits obligations and expense follow: Other postretirement 2020 2019 2018 Assumptions used to determine benefit obligation at year-end Discount rate 2.37 % 3.13 % 4.23 % Health care cost trend rate assumed for next year 7.05 % 6.95 % 7.10 % Ultimate health care cost trend rate 4.75 % 4.75 % 4.75 % Year ultimate health care cost trend rate is achieved 2030 2029 2028 Assumptions used to determine expense Discount rate used to determine benefit obligation 3.13 % 4.23 % 3.55 % Discount rate used to determine service cost 3.25 % 4.29 % 3.62 % Discount rate used to determine interest cost 2.67 % 3.85 % 3.04 % Initial health care cost trend rate 6.95 % 7.10 % 8.25 % Ultimate health care cost trend rate 4.75 % 4.75 % 4.75 % Year ultimate health care cost trend rate is achieved 2029 2028 2027 Employer Contributions to Retirement Benefits Plans Contributions to pension plans that Eaton expects to make in 2021, and made in 2020, 2019 and 2018, follow: 2021 2020 2019 2018 United States plans $ 236 $ 18 $ 17 $ 17 Non-United States plans 101 104 102 109 Total contributions $ 337 $ 122 $ 119 $ 126 The following table provides the estimated pension and other postretirement benefit payments for each of the next five years, and the five years thereafter in the aggregate. For other postretirement benefits liabilities, the expected subsidy receipts related to the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 would reduce the gross payments listed below. Estimated Estimated Estimated other postretirement Gross Medicare prescription 2021 $ 406 $ 100 $ 28 $ (1) 2022 298 101 31 — 2023 289 105 27 — 2024 280 107 26 — 2025 272 112 24 — 2026 - 2030 1,218 613 107 (1) Pension Plan Assets Investment policies and strategies are developed on a country specific basis. The United States plans, representing 62% of worldwide pension assets, and the United Kingdom plans representing 30% of worldwide pension assets, are invested primarily for growth, as the majority of the assets are in plans with active participants and ongoing accruals. In general, the plans have their primary allocation to diversified global equities, primarily through index funds in the form of common collective and other trusts. The United States plans' target allocation is 25% United States equities, 25% non-United States equities, 8% real estate (primarily equity of real estate investment trusts), 37% debt securities and 5% other, including private equity and cash equivalents. The United Kingdom plans' target asset allocations are 48% equities and the remainder in debt securities, cash equivalents and real estate investments. The equity risk for the plans is managed through broad geographic diversification and diversification across industries and levels of market capitalization. The majority of debt allocations for these plans are longer duration government and corporate debt. The United States, United Kingdom and Canada pension plans are authorized to use derivatives to achieve more economically desired market exposures and to use futures, swaps and options to gain or hedge exposures. Fair Value Measurements Financial instruments included in pension and other postretirement benefits plan assets are categorized into a fair value hierarchy of three levels, based on the degree of subjectivity inherent in the valuation methodology as follows: Level 1 - Quoted prices (unadjusted) for identical assets in active markets. Level 2 - Quoted prices for similar assets in active markets, and inputs that are observable for the asset, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 - Unobservable prices or inputs. Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy and are being presented in the tables to permit a reconciliation to total plan assets. Pension Plans A summary of the fair value of pension plan assets at December 31, 2020 and 2019, follows: Total Quoted prices Other Unobservable inputs (Level 3) 1 2020 Common collective trusts Non-United States equity and global equities $ 610 $ — $ 610 $ — United States equity 73 — 73 — Fixed income 681 — 681 — Fixed income securities 1,021 — 1,021 — United States treasuries 316 316 — — Bank loans 110 — 110 — Real estate 419 221 14 184 Cash equivalents 184 71 113 — Exchange traded funds 88 88 — — Other 213 — 39 174 Common collective and other trusts measured at net asset value 1,987 Money market funds measured at net asset value 6 Pending purchases and sales of plan assets, and interest (108) Total pension plan assets $ 5,600 $ 696 $ 2,661 $ 358 1 These pension plan assets include private real estate, private credit and private equity funds that generally have redemption notice periods of six months or longer, and are not eligible for redemption until the underlying assets are liquidated or distributed. The Company has unfunded commitments to these funds of approximately $254 at December 31, 2020, which will be satisfied by a reallocation of pension plan assets. Total Quoted prices Other Unobservable inputs (Level 3) 1 2019 Common collective trusts Non-United States equity and global equities $ 606 $ — $ 606 $ — United States equity 74 — 74 — Fixed income 571 — 571 — Fixed income securities 885 — 885 — United States treasuries 330 330 — — Bank loans 104 — 104 — Real estate 299 225 13 61 Cash equivalents 196 67 129 — Exchange traded funds 79 79 — — Other 167 — 38 129 Common collective and other trusts measured at net asset value 2,108 Money market funds measured at net asset value 6 Pending purchases and sales of plan assets, and interest (89) Total pension plan assets $ 5,336 $ 701 $ 2,420 $ 190 1 These pension plan assets include private real estate, private credit and private equity funds that generally have redemption notice periods of six months or longer, and are not eligible for redemption until the underlying assets are liquidated or distributed. The Company has unfunded commitments to these funds of approximately $334 at December 31, 2019 , which will be satisfied by a reallocation of pension plan assets. The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed during 2019 and 2020 due to the following: Real estate Other Total Balance at January 1, 2019 $ 21 $ 75 $ 96 Actual return on plan assets: Gains (losses) relating to assets still held at year-end 4 12 16 Purchases, sales, settlements - net 36 42 78 Transfers into or out of Level 3 — — — Balance at December 31, 2019 61 129 190 Actual return on plan assets: Gains (losses) relating to assets still held at year-end 2 12 14 Purchases, sales, settlements - net 121 33 154 Transfers into or out of Level 3 — — — Balance at December 31, 2020 $ 184 $ 174 $ 358 Other Postretirement Benefits Plans A summary of the fair value of other postretirement benefits plan assets at December 31, 2020 and 2019, follows: Total Quoted prices Other Unobservable 2020 Cash equivalents $ 3 $ 3 $ — $ — Common collective and other trusts measured at net asset value 17 Total other postretirement benefits plan assets $ 20 $ 3 $ — $ — Total Quoted prices Other Unobservable 2019 Cash equivalents $ 5 $ 5 $ — $ — Common collective and other trusts measured at net asset value 18 Total other postretirement benefits plan assets $ 23 $ 5 $ — $ — Valuation Methodologies Following is a description of the valuation methodologies used for pension and other postretirement benefits plan assets measured at fair value. There have been no changes in the methodologies used at December 31, 2020 and 2019. Common collective and other trusts - Valued at the net unit value of units held by the trust at year end. The unit value is determined by the total value of fund assets divided by the total number of units of the fund owned. The equity investments in collective trusts are predominantly in index funds for which the underlying securities are actively traded in public markets based upon readily measurable prices. The investments in other trusts are predominantly in exchange traded funds for which the underlying securities are actively traded in public markets based upon readily measurable prices. Common collective and other trusts measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy and are being presented in the tables above to permit a reconciliation of the fair value hierarchy to the total plan assets. Fixed income securities - These securities consist of publicly traded United States and non-United States fixed interest obligations (principally corporate and government bonds and debentures). The fair value of corporate and government debt securities is determined through third-party pricing models that consider various assumptions, including time value, yield curves, credit ratings, and current market prices. The Company verifies the results of trustees or custodians and evaluates the pricing classification of these securities by performing analyses using other third-party sources. United States treasuries - Valued at the closing price of each security. Bank loans - These securities consist of senior secured term loans of publicly traded and privately held United States and non-United States floating rate obligations (principally corporations of non-investment grade rating). The fair value is determined through third-party pricing models that primarily utilize dealer quoted current market prices. The Company verifies the results of trustees or custodians and evaluates the pricing classification of these securities by performing analyses using other third-party sources. Real estate - Consists of direct investments in the stock of publicly traded companies and investments in pooled funds that invest directly in real estate. The publicly traded companies are valued based on the closing price reported in an active market on which the individual securities are traded and as such are classified as Level 1. The pooled funds rely on appraisal-based valuations and as such are classified as Level 3. Cash equivalents - Primarily certificates of deposit, commercial paper, and repurchase agreements. Exchange traded funds - Valued at the closing price of the exchange traded fund's shares. Money market funds - Money market funds measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy and are being presented in the tables above to permit a reconciliation of the fair value hierarchy to the total plan assets. Other - Primarily insurance contracts for international plans and also futures contracts and over-the-counter options. These investments are valued based on the closing prices of future contracts or indices as available on Bloomberg or similar service, private credit and private equity investments. For additional information regarding fair value measurements, see Note 14. Defined Contribution Plans The Company has various defined contribution benefit plans, primarily consisting of the plans in the United States. The total contributions related to these plans are charged to expense and were as follows: 2020 $ 111 2019 130 2018 124

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Contingencies Eaton is subject to a broad range of claims, administrative and legal proceedings such as lawsuits that relate to contractual allegations, tax audits, patent infringement, personal injuries, antitrust matters, and employment-related matters. Eaton is also subject to asbestos claims from historic products which may have contained asbestos. Insurance may cover some of the costs associated with these claims and proceedings. Although it is not possible to predict with certainty the outcome or cost of these matters, the Company believes they will not have a material adverse effect on the consolidated financial statements. In December 2011, Pepsi-Cola Metropolitan Bottling Company, Inc. (“Pepsi”) filed an action against (a) Cooper Industries, LLC, Cooper Industries, Ltd., Cooper Holdings, Ltd., Cooper US, Inc., and Cooper Industries plc (collectively, “Cooper”), (b) M&F Worldwide Corp., Mafco Worldwide Corp., Mafco Consolidated Group LLC, and PCT International Holdings, Inc. (collectively, “Mafco”), and (c) the Pneumo Abex Asbestos Claims Settlement Trust (the “Trust”) in Texas state court. Pepsi alleged that it was harmed by a 2011 settlement agreement (“2011 Settlement”) among Cooper, Mafco, and Pneumo Abex, LLC (“Pneumo,” which prior to the 2011 Settlement was a Mafco subsidiary), which settlement resolved litigation that Pneumo had previously brought against Cooper involving, among other things, a guaranty related to Pneumo’s friction products business. In November 2015, after a Texas court ruled that Pepsi's claims should be heard in arbitration, Pepsi filed a demand for arbitration against Cooper, Mafco, the Trust, and Pneumo. Pepsi subsequently dropped claims against all parties except Cooper. An arbitration under the auspices of the American Arbitration Association commenced in October 2017. Pepsi’s experts opined, among other things, that the value contributed to the Trust for a release of the guaranty was below reasonably equivalent value, and that an inability of Pneumo to satisfy future liabilities could result in plaintiffs suing Pepsi under various theories. Cooper submitted various expert reports and, among other things, Cooper’s experts opined that Pepsi had no basis to seek any damages and that Cooper paid reasonably equivalent value for the release of its indemnity obligations under the guaranty. The arbitration proceedings closed in December 2017. On July 11, 2018, the arbitration panel made certain findings and concluded that the value contributed to the Trust did not constitute reasonably equivalent value, but ordered the parties to recalculate the amount that should have been contributed to the Trust as of the date of the 2011 transaction. Based on the findings made by the panel and the recalculation ordered by the panel, Cooper believed that no additional amount should be contributed. Pepsi argued that an additional $347 should be contributed. Cooper and its expert disagreed with Pepsi’s argument and believed that Pepsi’s recalculation was flawed and failed to comply with the instructions of the panel. On August 23, 2018, the panel issued its final award and ordered Cooper to pay $293 to Pneumo Abex. On August 30, 2018, Pepsi sought to confirm the award in Texas state court, which Cooper opposed on October 9, 2018. Cooper further requested that the court vacate the award on various grounds, including that Cooper was prejudiced by the conduct of the proceedings, the panel exceeded its powers, and because the panel denied Cooper a full and fair opportunity to present certain evidence. The court confirmed the award at the confirmation hearing, which was held on October 12, 2018. On November 2, 2018, the Company appealed. On November 28, 2018, the Company paid $297, the full judgment plus accrued post-judgment interest, to Pneumo Abex and preserved its rights, including to appeal. On April 25, 2019, the appeal that Cooper filed was dismissed. Environmental Contingencies Eaton has established policies to ensure that its operations are conducted in keeping with good corporate citizenship and with a positive commitment to the protection of the natural and workplace environments. The Company requires that its manufacturing facilities be certified to ISO 14001, an international standard for environmental management systems. The Company routinely reviews EHS performance at each of its facilities and continuously strives to improve pollution prevention. Eaton is involved in remedial response and voluntary environmental remediation at a number of sites, including certain of its currently-owned or formerly-owned plants. The Company has also been named a potentially responsible party under the United States federal Superfund law, or the state equivalents thereof, at a number of disposal sites. The Company became involved in these sites as a result of government action or in connection with business acquisitions. At the end of 2020, the Company was involved with a total of 114 sites worldwide, including the Superfund sites mentioned above, with none of these sites being individually significant to the Company. Remediation activities, generally involving soil and/or groundwater contamination, include pre-cleanup activities such as fact finding and investigation, risk assessment, feasibility study, design and action planning, performance (where actions may range from monitoring, to removal of contaminants, to installation of longer-term remediation systems), and operation and maintenance of a remediation system. The extent of expected remediation activities and costs varies by site. A number of factors affect the cost of environmental remediation, including the number of parties involved at a particular site, the determination of the extent of contamination, the length of time the remediation may require, the complexity of environmental regulations, and the continuing advancement of remediation technology. Taking these factors into account, Eaton has estimated the costs of remediation, which will be paid over a period of years. The Company accrues an amount on an undiscounted basis, consistent with the estimates of these costs, when it is probable that a liability has been incurred. Actual results may differ from these estimates. At December 31, 2020 and 2019, the Company had an accrual totaling $103 and $104, respectively, for these costs. Based upon Eaton's analysis and subject to the difficulty in estimating these future costs, the Company expects that any sum it may be required to pay in connection with environmental matters is not reasonably possible to exceed the recorded liability by an amount that would have a material effect on its financial position, results of operations or cash flows. Warranty Accruals Product warranty accruals are established at the time the related sale is recognized through a charge to Cost of products sold. Warranty accrual estimates are based primarily on historical warranty claim experience and specific customer contracts. Provisions for warranty accruals are comprised of basic warranties for products sold, as well as accruals for product recalls and other events when they are known and estimable. A summary of the current and long-term warranty accruals follows: 2020 2019 2018 Balance at January 1 $ 187 $ 176 $ 188 Provision 100 204 139 Settled (130) (175) (145) Other 2 (2) (6) Warranty accruals reclassified to held for sale (8) (16) — Balance at December 31 $ 151 $ 187 $ 176

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Eaton Corporation plc is domiciled in Ireland. Income (loss) before income taxes and income tax (benefit) expense are summarized below based on the geographic location of the operation to which such earnings and income taxes are attributable. Income (loss) before income taxes 2020 2019 2018 Ireland $ (132) $ (201) $ (365) Foreign 1,878 2,792 2,789 Total income before income taxes $ 1,746 $ 2,591 $ 2,424 Income tax expense (benefit) 2020 2019 2018 Current Ireland $ 15 $ 26 $ 47 Foreign 441 410 370 Total current income tax expense 456 436 417 Deferred Ireland — 3 6 Foreign (125) (61) (145) Total deferred income tax expense (benefit) (125) (58) (139) Total income tax expense $ 331 $ 378 $ 278 Reconciliations of income taxes from the Ireland national statutory rate of 25% to the consolidated effective income tax rate follow: 2020 2019 2018 Income taxes at the applicable statutory rate 25.0 % 25.0 % 25.0 % Ireland operations Ireland tax on trading income (0.3) % (1.0) % (2.0) % Nondeductible interest expense 2.7 % 3.9 % 7.8 % Ireland Other - net 0.4 % 0.1 % 0.1 % Foreign operations Nondeductible goodwill – sale of business 5.3 % — % — % Tax on foreign currency loss — % — % (1.6) % Earnings taxed at other than (16.0) % (14.8) % (19.6) % Other items 2.3 % 3.3 % 2.1 % Worldwide operations Adjustments to tax liabilities (0.6) % (0.5) % 1.1 % Adjustments to valuation allowances 0.2 % (1.4) % (1.4) % Effective income tax expense rate 19.0 % 14.6 % 11.5 % During 2020, income tax expense of $331 was recognized (an effective tax rate of 19.0%) compared to income tax expense of $378 in 2019 (an effective tax rate of 14.6%) and income tax expense of $278 in 2018 (an effective tax rate of 11.5%). The increase in the effective tax rate from 14.6% in 2019 to 19.0% in 2020 was primarily due to the tax expense on the gain from the sale of the Lighting business discussed in Note 2, partially offset by a tax benefit on the restructuring charges discussed in Note 16. The 2018 effective tax rate of 11.5% was lower than the 2019 effective tax rate of 14.6% primarily due to the tax impact of the 2018 arbitration decision expense discussed in Note 10. With the exception of a $6 liability related to foreign subsidiaries considered as held for sale, no provision has been made for income taxes on undistributed earnings of foreign subsidiaries of approximately $28.9 billion at December 31, 2020, since it is the Company's intention to indefinitely reinvest undistributed earnings of its foreign subsidiaries. The Company expects to deploy capital to those markets which offer particularly attractive growth opportunities. The cash that is permanently reinvested is typically used to expand operations either organically or through acquisitions. It is not practicable to estimate the additional income taxes and applicable withholding taxes that would be payable on the remittance of such undistributed earnings. Worldwide income tax payments, net of tax refunds, follow: 2020 $ 391 2019 425 2018 379 Deferred Income Tax Assets and Liabilities Components of noncurrent deferred income taxes follow: 2020 2019 Noncurrent assets and liabilities Noncurrent assets and liabilities Accruals and other adjustments Employee benefits $ 553 $ 514 Depreciation and amortization (1,101) (1,245) Other accruals and adjustments 505 498 Ireland income tax loss carryforwards 1 1 Foreign income tax loss carryforwards 1,815 1,826 Foreign income tax credit carryforwards 309 349 Valuation allowance for income tax loss and income tax (1,863) (1,914) Other valuation allowances (67) (52) Total deferred income taxes 152 (23) Deferred income taxes reported as held for sale 3 1 Deferred income taxes $ 149 $ (24) At December 31, 2020, Eaton Corporation plc and its foreign subsidiaries had income tax loss carryforwards and income tax credit carryforwards that are available to reduce future taxable income or tax liabilities. These carryforwards and their respective expiration dates are summarized below: 2021 2026 2031 2036 Not Ireland income tax loss carryforwards $ — $ — $ — $ — $ 8 $ — Ireland deferred income tax assets for income tax loss — — — — 1 (1) Foreign income tax loss carryforwards 641 7,427 893 251 3,067 — Foreign deferred income tax assets for income tax loss carryforwards 88 690 235 76 751 (1,655) Foreign deferred income tax assets for income tax loss carryforwards after ASU 2013-11 76 686 226 76 751 (1,655) Foreign income tax credit carryforwards 110 169 38 2 51 (207) Foreign income tax credit carryforwards after ASU 2013-11 74 144 38 2 51 (207) Recoverability of Deferred Income Tax Assets Eaton is subject to the income tax laws in the jurisdictions in which it operates. In order to determine its income tax provision for financial statement purposes, Eaton must make significant estimates and judgments about its business operations in these jurisdictions. These estimates and judgments are also used in determining the deferred income tax assets and liabilities that have been recognized for differences between the financial statement and income tax basis of assets and liabilities, and income tax loss carryforwards and income tax credit carryforwards. Management evaluates the realizability of deferred income tax assets for each of the jurisdictions in which it operates. If the Company experiences cumulative pre-tax income in a particular jurisdiction in the three-year period including the current and prior two years, management normally concludes that the deferred income tax assets will more likely than not be realizable and no valuation allowance is recognized, unless known or planned operating developments, or changes in tax laws, would lead management to conclude otherwise. However, if the Company experiences cumulative pre-tax losses in a particular jurisdiction in the three-year period including the current and prior two years, management then considers a series of factors in the determination of whether the deferred income tax assets can be realized. These factors include historical operating results, known or planned operating developments, the period of time over which certain temporary differences will reverse, consideration of the utilization of certain deferred income tax liabilities, tax law carryback capability in the particular country, prudent and feasible tax planning strategies, changes in tax laws, and estimates of future earnings and taxable income using the same assumptions as those used for the Company's goodwill and other impairment testing. After evaluation of these factors, if the deferred income tax assets are expected to be realized within the tax carryforward period allowed for that specific country, management would conclude that no valuation allowance would be required. To the extent that the deferred income tax assets exceed the amount that is expected to be realized within the tax carryforward period for a particular jurisdiction, management would establish a valuation allowance. Applying the above methodology, valuation allowances have been established for certain deferred income tax assets to the extent they are not expected to be realized within the particular tax carryforward period. Unrecognized Income Tax Benefits A summary of gross unrecognized income tax benefits follows: 2020 2019 2018 Balance at January 1 $ 1,001 $ 913 $ 735 Increases and decreases as a result of positions taken during prior years Transfers from valuation allowances — 15 2 Other increases, including currency translation 10 22 164 Other decreases, including currency translation (10) (10) (35) Increases related to acquired businesses 7 — — Increases as a result of positions taken during the current year 58 80 69 Decreases relating to settlements with tax authorities (26) (16) (3) Decreases as a result of a lapse of the applicable statute of limitations (4) (3) (19) Balance at December 31 $ 1,036 $ 1,001 $ 913 Eaton recognizes an income tax benefit from an uncertain tax position only if it is more likely than not that the benefit would be sustained upon examination by taxing authorities, based on the technical merits of the position. The Company evaluates and adjusts the amount of unrecognized income tax benefits based on changes in facts and circumstances. The Company does not enter into any of the United States Internal Revenue Service (IRS) Listed Transactions as set forth in Treasury Regulation 1.6011-4. If all unrecognized income tax benefits were recognized, the net impact on the provision for income tax expense would be $681, which includes the impact of deferred tax netting pursuant to ASU 2013-11. As of December 31, 2020 and 2019, Eaton had accrued approximately $110 and $93, respectively, for the payment of worldwide interest and penalties, which are not included in the table of unrecognized income tax benefits above. Eaton recognizes interest and penalties related to unrecognized income tax benefits in the provision for income tax expense. The resolution of the majority of Eaton's unrecognized income tax benefits is dependent upon uncontrollable factors such as the prospect of retroactive regulations, new case law, and the willingness of the income tax authority to settle the issue, including the timing thereof. Therefore, for the majority of unrecognized income tax benefits, it is not reasonably possible to estimate the increase or decrease in the next 12 months. For each of the unrecognized income tax benefits where it is possible to estimate the increase or decrease in the balance within the next 12 months, the Company does not anticipate any significant change. Eaton or its subsidiaries file income tax returns in Ireland and many countries around the world. With only a few exceptions, Irish and non-United States subsidiaries of Eaton are no longer subject to examinations for years before 2012. The United States Internal Revenue Service (“IRS”) has completed its examination of the consolidated income tax returns of the Company’s United States subsidiaries (“Eaton US”) for 2005 through 2010 and has issued Statutory Notices of Deficiency (Notices) as discussed below. The statute of limitations on these tax years remains open until the matters are resolved. The IRS has also completed its examination of the consolidated income tax returns of Eaton US for 2011 through 2013 and has issued proposed adjustments as discussed below. The statute of limitations on these tax years remains open until December 31, 2021. The IRS is currently examining tax years 2014 through 2016. The statute of limitations for tax years 2014 through 2016 is open until December 31, 2021. Tax years 2017 through 2019 are still subject to examination by the IRS. Eaton US is also under examination for the income tax filings in various states and localities of the United States. Income tax returns of states and localities within the United States will be reopened to the extent of United States federal income tax adjustments, if any, going back to 2005 when those audit years are finalized. In 2011, the IRS issued a Notice for Eaton US for the 2005 and 2006 tax years (the 2011 Notice). The 2011 Notice proposed assessments of $75 in additional taxes plus $52 in penalties related primarily to transfer pricing adjustments for products manufactured in the Company's facilities in Puerto Rico and the Dominican Republic and sold to affiliated companies located in the United States. Eaton US has set its transfer prices for products sold between these affiliates at the same prices that Eaton US sells such products to third parties as required by two successive Advance Pricing Agreements (APAs) Eaton US entered into with the IRS that governed the 2005-2010 tax years. Eaton US has continued to apply the arms-length transfer pricing methodology for 2011 through the current reporting period. Immediately prior to the 2011 Notice being issued, the IRS sent a letter stating that it was retrospectively canceling the APAs. Eaton US contested the proposed assessments in United States Tax Court. The case involved both whether the APAs should be enforced and, if not, the appropriate transfer pricing methodology. On July 26, 2017, the United States Tax Court issued a ruling in which it agreed with Eaton US that the IRS must abide by the terms of the APAs for the tax years 2005-2006. The Tax Court’s ruling on the APAs did not have a material impact on Eaton’s consolidated financial statements. In 2014, Eaton US received a Notice from the IRS for the 2007 through 2010 tax years (the 2014 Notice) proposing assessments of $190 in additional taxes plus $72 in penalties, net of agreed credits and deductions, which the Company has also contested in Tax Court. The proposed assessments pertain primarily to the same transfer pricing issues and APA for which the Tax Court has issued its ruling during 2017 as noted above. The Company believes that the Tax Court’s ruling for tax years 2005-2006 will also be applicable to the 2007-2010 years. Following the issuance of the Tax Court’s ruling, Eaton and the IRS recognized that the ruling on the enforceability of the APAs did not address a secondary issue regarding the transfer pricing for a certain royalty paid from 2006-2010. Eaton US reported a consistent royalty rate for 2006-2010. The IRS has agreed to the royalty rate as reported by Eaton US in 2006. Although the IRS has not proposed an alternative rate, it has not agreed to apply the same royalty rate in the 2007-2010 years. The 2014 Notice also includes a separate proposed assessment involving the recognition of income for several of Eaton US’s controlled foreign corporations. The Company believes that the proposed assessment is without merit and is contesting the matter in Tax Court. In October 2017, Eaton and the IRS both moved for partial summary judgment on this issue. On February 25, 2019 the Tax Court granted the IRS’s motion for partial summary judgment and denied Eaton’s. The Company intends to appeal the Tax Court’s partial summary judgment decision to the United States Sixth Circuit Court of Appeals. The Company believes that it will be successful on appeal and has not recorded any additional impact of the Tax Court's decision in its consolidated financial statements. The total potential impact of the Tax Court's partial summary judgment decision on the controlled foreign corporation income recognition issue is not estimable until all matters in the open tax years have been resolved. In 2018 the IRS completed its examination of the Eaton US tax years 2011 through 2013 and has proposed adjustments to certain transfer pricing tax positions, including adjustments similar to those proposed in the 2011 and 2014 Notices for products manufactured in the Company’s facilities in Puerto Rico and the Dominican Republic and sold to affiliated companies located in the United States. The IRS also proposed adjustments involving the recognition of income for several of Eaton US’s controlled foreign corporation, which is the same issue included in the 2014 Notice described above and subject to litigation in Tax Court. The Company is pursuing its administrative appeals alternatives with respect to the IRS adjustments and believes that final resolution of the proposed adjustments will not have a material impact on its consolidated financial statements.

EATON SHAREHOLDERS' EQUITY

EATON SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
EATON SHAREHOLDERS' EQUITY	EATON SHAREHOLDERS' EQUITY There are 750 million Eaton ordinary shares authorized ($0.01 par value per share), 398.1 million and 413.3 million of which were issued and outstanding at December 31, 2020 and 2019, respectively. Eaton's Memorandum and Articles of Association authorized 40 thousand deferred ordinary shares (€1.00 par value per share) and 10 thousand preferred A shares ($1.00 par value per share), all of which were issued and outstanding at December 31, 2020 and 2019, and 10 million serial preferred shares ($0.01 par value per share), none of which is outstanding at December 31, 2020 and 2019. At December 31, 2020, there were 11,390 holders of record of Eaton ordinary shares. Additionally, 16,400 current and former employees were shareholders through participation in the Eaton Savings Plan, the Eaton Personal Investment Plan, or the Eaton Puerto Rico Retirement Savings Plan. On February 27, 2019, the Board of Directors adopted a new share repurchase program for share repurchases up to $5,000 of ordinary shares (2019 Program). Under the 2019 Program, the ordinary shares are expected to be repurchased over time, depending on market conditions, the market price of ordinary shares, capital levels, and other considerations. During 2020 and 2019, 17.1 million and 12.5 million ordinary shares, respectively, were repurchased under the 2019 Program in the open market at a total cost of $1,608 and $1,000, respectively. Eaton has deferral plans that permit certain employees and directors to defer a portion of their compensation. A trust contains $3 and $5 of ordinary shares and marketable securities at December 31, 2020 and 2019, respectively, to fund a portion of these liabilities. The marketable securities were included in Other assets and the ordinary shares were included in Shareholders' equity at historical cost. On February 24, 2021, Eaton's Board of Directors declared a quarterly dividend of $0.76 per ordinary share, a 4% increase over the dividend paid in the fourth quarter of 2020. The dividend is payable on March 30, 2021 to shareholders of record on March 16, 2021. Comprehensive Income (Loss) Comprehensive income (loss) consists primarily of net income, currency translation and related hedging instruments, changes in unrecognized costs of pension and other postretirement benefits, and changes in the effective portion of open derivative contracts designated as cash flow hedges. The following table summarizes the pre-tax and after-tax amounts recognized in Comprehensive income (loss): 2020 2019 2018 Pre-tax After-tax Pre-tax After-tax Pre-tax After-tax Currency translation and related hedging instruments Gain (loss) from currency translation and related hedging $ 154 $ 164 $ 15 $ 16 $ (613) $ (609) Translation reclassified to earnings 37 37 — — — — 191 201 15 16 (613) (609) Pensions and other postretirement benefits Prior service credit (cost) arising during the year (1) (1) (2) (2) (25) (20) Net gain (loss) arising during the year (263) (203) (294) (232) (358) (274) Currency translation (48) (37) (16) (13) 37 29 Other (2) (1) — — — 5 Amortization of actuarial loss and prior service cost 221 169 148 117 168 121 (93) (73) (164) (130) (178) (139) Cash flow hedges Gain (loss) on derivatives designated as cash flow hedges (60) (47) (33) (27) (8) (6) Changes in cash flow hedges reclassified to earnings 17 14 (5) (4) 16 13 Cash flow hedges, net of reclassification adjustments (43) (33) (38) (31) 8 7 Other comprehensive income (loss) attributable to Eaton ordinary shareholders $ 55 $ 95 $ (187) $ (145) $ (783) $ (741) The changes in Accumulated other comprehensive loss follow: Currency translation and related hedging instruments Pensions and other postretirement benefits Cash flow Total Balance at January 1, 2020 $ (2,848) $ (1,408) $ (34) $ (4,290) Other comprehensive income (loss) before 164 (242) (47) (125) Amounts reclassified from Accumulated other 37 169 14 220 Net current-period Other comprehensive 201 (73) (33) 95 Balance at December 31, 2020 $ (2,647) $ (1,481) $ (67) $ (4,195) The reclassifications out of Accumulated other comprehensive loss follow: December 31, 2020 Consolidated Statements of Currency translation losses Sale of business $ (37) Gain on sale of business Tax benefit — Total, net of tax (37) Amortization of defined benefits pension and other Actuarial loss and prior service cost (221) 1 Tax benefit 52 Total, net of tax (169) Gains and (losses) on cash flow hedges Currency exchange contracts (18) Net sales and Cost of products sold Commodity contracts 1 Cost of products sold Tax benefit 3 Total, net of tax (14) Total reclassifications for the period $ (220) 1 These components of Accumulated other comprehensive loss are included in the computation of net periodic benefit cost. See Note 9 for additional information about defined benefits pension and other postretirement benefits items. Net Income Per Share Attributable to Eaton Ordinary Shareholders A summary of the calculation of net income per share attributable to Eaton ordinary shareholders follows: (Shares in millions) 2020 2019 2018 Net income attributable to Eaton ordinary shareholders $ 1,410 $ 2,211 $ 2,145 Weighted-average number of ordinary shares outstanding - diluted 404.0 420.8 436.9 Less dilutive effect of equity-based compensation 1.8 1.8 2.6 Weighted-average number of ordinary shares outstanding - basic 402.2 419.0 434.3 Net income per share attributable to Eaton ordinary shareholders Diluted $ 3.49 $ 5.25 $ 4.91 Basic 3.51 5.28 4.93 In 2020, 2019, and 2018, 0.6 million, 0.8 million, and 0.5 million stock options, respectively, were excluded from the calculation of diluted net income per share attributable to Eaton ordinary shareholders because the exercise price of the options exceeded the average market price of the ordinary shares during the period and their effect, accordingly, would have been antidilutive.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION Eaton recognizes equity-based compensation expense based on the grant date fair value of the award. Awards with service conditions or both service and market conditions are expensed over the period during which an employee is required to provide service in exchange for the award. Awards with both service and performance conditions are expensed over the period an employee is required to provide service based on the number of units for which achievement of the performance objective is probable. The Company estimates forfeitures as part of recording equity-based compensation expense. Restricted Stock Units and Awards Restricted stock units (RSUs) and restricted stock awards (RSAs) have been issued to certain employees and directors. The fair value of RSUs and RSAs are determined based on the closing market price of the Company’s ordinary shares at the date of grant. The RSUs entitle the holder to receive one ordinary share for each RSU upon vesting, generally over three years. RSAs are issued and outstanding at the time of grant, but remain subject to forfeiture until vested, generally over ten years. A summary of the RSU and RSA activity for 2020 follows: (Restricted stock units and awards in millions) Number of restricted Weighted-average fair Non-vested at January 1 1.7 $ 76.79 Granted 0.7 97.75 Vested (0.8) 78.58 Forfeited (0.1) 85.21 Non-vested at December 31 1.5 $ 85.09 Information related to RSUs and RSAs follows: 2020 2019 2018 Pre-tax expense for RSUs and RSAs $ 58 $ 57 $ 59 After-tax expense for RSUs and RSAs 46 45 46 Fair value of vested RSUs and RSAs 75 103 71 As of December 31, 2020, total compensation expense not yet recognized related to non-vested RSUs and RSAs was $73, and the weighted-average period in which the expense is expected to be recognized is 2.1 years. Excess tax benefit for RSUs and RSAs totaled $2, $3 and $3 for 2020, 2019, and 2018, respectively. Performance Share Units Performance share units (PSUs) have been issued to certain employees that vest based on the satisfaction of a three three The Company uses a Monte Carlo simulation to estimate the fair value of PSUs with market conditions. The principal assumptions utilized in valuing these PSUs include the expected stock price volatility (based on the most recent 3-year period as of the grant date) and the risk-free interest rate (an estimate based on the yield of United States Treasury zero coupon bonds with a three-year maturity as of the grant date). A summary of the assumptions used in determining fair value of these PSUs follows: 2020 2019 2018 Expected volatility 21 % 21 % 22 % Risk-free interest rate 1.16 % 2.42 % 2.38 % Weighted-average fair value of PSUs granted $ 121.01 $ 92.50 $ 100.86 A summary of these PSUs that vested follows: (Performance share units in millions) 2020 2019 2018 Percent payout 178 % 130 % 116 % Shares vested 0.4 0.3 0.5 A summary of the 2020 activity for these PSUs follows: (Performance share units in millions) Number of performance Weighted-average fair Non-vested at January 1 0.6 $ 96.14 Granted 1 0.2 121.01 Adjusted for performance results achieved 2 0.2 100.86 Vested (0.4) 100.86 Forfeited (0.1) 101.56 Non-vested at December 31 0.5 $ 105.47 1 Performance shares granted assuming the Company will perform at target relative to peers. 2 Adjustments for the number of shares vested under the 2018 awards at the end of the three-year performance period ended December 31, 2020, being higher than the target number of shares. Information related to PSUs follows: 2020 2019 2018 Pre-tax expense for PSUs $ 25 $ 21 $ 28 After-tax expense for PSUs 20 17 22 As of December 31, 2020, total compensation expense not yet recognized related to non-vested PSUs was $31 and the weighted-average period in which the expense is to be recognized is 1.7 years. Excess tax benefit for PSUs totaled $3 and $1 in 2020 and 2019, respectively, and there was no excess tax benefit for PSUs in 2018. Stock Options Under various plans, stock options have been granted to certain employees and directors to purchase ordinary shares at prices equal to fair market value on the date of grant. Substantially all of these options vest ratably during the three The Company uses a Black-Scholes option pricing model to estimate the fair value of stock options. The principal assumptions utilized in valuing stock options include the expected stock price volatility (based on the most recent historical period equal to the expected life of the option); the expected option life (an estimate based on historical experience); the expected dividend yield; and the risk-free interest rate (an estimate based on the yield of United States Treasury zero coupon with a maturity equal to the expected life of the option). A summary of the assumptions used in determining the fair value of stock options follows: 2020 2019 2018 Expected volatility 24 % 23 % 26 % Expected option life in years 6.6 6.6 6.7 Expected dividend yield 3.2 % 3.2 % 3.0 % Risk-free interest rate 0.5 to 1.5% 1.9 to 2.6% 2.6 to 2.9% Weighted-average fair value of stock options granted $ 15.55 $ 14.08 $ 16.93 A summary of stock option activity follows: (Options in millions) Weighted-average Options Weighted-average Aggregate Outstanding at January 1, 2020 $ 69.95 4.1 Granted 98.16 0.7 Exercised 63.49 (1.1) Forfeited and canceled 83.42 (0.1) Outstanding at December 31, 2020 $ 76.93 3.6 6.4 $ 156.6 Exercisable at December 31, 2020 $ 70.02 2.4 5.3 $ 117.9 Reserved for future grants at December 31, 2020 24.8 The aggregate intrinsic value in the table above represents the total excess of the $120.14 closing price of Eaton ordinary shares on the last trading day of 2020 over the exercise price of the stock option, multiplied by the related number of options outstanding and exercisable. The aggregate intrinsic value is not recognized for financial accounting purposes and the value changes based on the daily changes in the fair market value of the Company's ordinary shares. Information related to stock options follows: 2020 2019 2018 Pre-tax expense for stock options $ 9 $ 9 $ 11 After-tax expense for stock options 7 7 9 Proceeds from stock options exercised 70 67 29 Income tax benefit related to stock options exercised Tax benefit classified in operating activities in the Consolidated 10 4 3 Intrinsic value of stock options exercised 50 29 17 Total fair value of stock options vested $ 9 $ 9 $ 11 Stock options exercised, in millions of options 1.1 1.2 0.6

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is measured based on an exit price, representing the amount that would be received to sell an asset or paid to satisfy a liability in an orderly transaction between market participants. Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a fair value hierarchy is established, which categorizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. A summary of financial instruments recognized at fair value, and the fair value measurements used, follows: Total Quoted prices Other Unobservable 2020 Cash $ 438 $ 438 $ — $ — Short-term investments 664 664 — — Net derivative contracts 31 — 31 — 2019 Cash $ 370 $ 370 $ — $ — Short-term investments 221 221 — — Net derivative contracts 53 — 53 — Eaton values its financial instruments using an industry standard market approach, in which prices and other relevant information is generated by market transactions involving identical or comparable assets or liabilities. No financial instruments were measured using unobservable inputs. Other Fair Value Measurements Long-term debt and the current portion of long-term debt had a carrying value of $8,057 and fair value of $9,075 at December 31, 2020 compared to $8,067 and $8,638, respectively, at December 31, 2019. The fair value of Eaton's debt instruments was estimated using prevailing market interest rates on debt with similar creditworthiness, terms and maturities and is considered a Level 2 fair value measurement. Short-Term Investments Eaton invests excess cash generated from operations in short-term marketable investments. A summary of the carrying value, which approximates the fair value due to the short-term maturities of these investments, follows: 2020 2019 Time deposits and certificates of deposit with banks $ 168 $ 150 Money market investments 496 71 Total short-term investments $ 664 $ 221

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES In the normal course of business, Eaton is exposed to certain risks related to fluctuations in interest rates, currency exchange rates and commodity prices. The Company uses various derivative and non-derivative financial instruments, primarily interest rate swaps, currency forward exchange contracts, currency swaps and, commodity contracts to manage risks from these market fluctuations. The instruments used by Eaton are straightforward, non-leveraged instruments. The counterparties to these instruments are financial institutions with strong credit ratings. Eaton maintains control over the size of positions entered into with any one counterparty and regularly monitors the credit rating of these institutions. Such instruments are not purchased and sold for trading purposes. Derivative financial instruments are accounted for at fair value and recognized as assets or liabilities in the Consolidated Balance Sheets. Accounting for the gain or loss resulting from the change in the fair value of the derivative financial instrument depends on whether it has been designated, and is effective, as part of a hedging relationship and, if so, as to the nature of the hedging activity. Eaton formally documents all relationships between derivative financial instruments accounted for as designated hedges and the hedged item, as well as its risk-management objective and strategy for undertaking the hedge transaction. This process includes linking derivative financial instruments to a recognized asset or liability, specific firm commitment, forecasted transaction, or net investment in a foreign operation. These financial instruments can be designated as: • Hedges of the change in the fair value of a recognized fixed-rate asset or liability, or the firm commitment to acquire such an asset or liability (a fair value hedge); for these hedges, the gain or loss from the derivative financial instrument, as well as the offsetting loss or gain on the hedged item attributable to the hedged risk, are recognized in income during the period of change in fair value. • Hedges of the variable cash flows of a recognized variable-rate asset or liability, or the forecasted acquisition of such an asset or liability (a cash flow hedge); for these hedges, the gain or loss from the derivative financial instrument is recognized in Accumulated other comprehensive income and reclassified to income in the same period when the gain or loss on the hedged item is included in income. • Hedges of the currency exposure related to a net investment in a foreign operation (a net investment hedge); for these hedges, the gain or loss from the derivative financial instrument is recognized in Accumulated other comprehensive income and reclassified to income in the same period when the gain or loss related to the net investment in the foreign operation is included in income. The gain or loss from a derivative financial instrument designated as a hedge is classified in the same line of the Consolidated Statements of Income as the offsetting loss or gain on the hedged item. The cash flows resulting from these financial instruments are classified in operating activities on the Consolidated Statements of Cash Flows. For derivatives that are not designated as a hedge, any gain or loss is immediately recognized in income. The majority of derivatives used in this manner relate to risks resulting from assets or liabilities denominated in a foreign currency and certain commodity contracts that arise in the normal course of business. Eaton uses certain of its debt denominated in foreign currency to hedge portions of its net investments in foreign operations against foreign currency exposure (net investment hedges). Foreign currency denominated debt designated as non-derivative net investment hedging instruments had a carrying value on an after-tax basis of $2,020 and $1,845 at December 31, 2020 and 2019, respectively. See Note 8 for additional information about debt. Interest Rate Risk Eaton has entered into fixed-to-floating interest rate swaps to manage interest rate risk of certain long-term debt. These interest rate swaps are accounted for as fair value hedges of certain long-term debt. The maturity of the swap corresponds with the maturity of the debt instrument as noted in the table of long-term debt in Note 8. Eaton also entered into several forward starting floating-to-fixed interest rate swaps to manage interest rate risk on a future anticipated debt issuance. A summary of interest rate swaps outstanding at December 31, 2020, follows: Fixed-to-Floating Interest Rate Swaps Notional amount Fixed interest Floating interest Basis for contracted floating interest rate paid $ 275 3.47% 2.25% 1 month LIBOR + 1.74% 100 8.10% 6.42% 1 month LIBOR + 5.90% 1,400 2.75% 1.20% 1 month LIBOR + 0.58% 200 3.68% 1.58% 1 month LIBOR + 1.07% 25 7.63% 3.16% 6 month LIBOR + 2.48% 50 7.65% 3.03% 6 month LIBOR + 2.57% 25 5.45% 1.02% 6 month LIBOR + 0.28% Forward Starting Floating-to-Fixed Interest Rate Swaps Notional amount Floating interest Fixed interest Basis for contracted floating interest rate received $ 50 —% 3.10% 3 month LIBOR + 0.00% 50 —% 3.06% 3 month LIBOR + 0.00% 50 —% 2.80% 3 month LIBOR + 0.00% 50 —% 2.81% 3 month LIBOR + 0.00% 50 —% 2.64% 3 month LIBOR + 0.00% 50 —% 2.64% 3 month LIBOR + 0.00% 50 —% 2.30% 3 month LIBOR + 0.00% 50 —% 2.08% 3 month LIBOR + 0.00% 50 —% 1.77% 3 month LIBOR + 0.00% 50 —% 1.51% 3 month LIBOR + 0.00% 50 —% 1.50% 3 month LIBOR + 0.00% 50 —% 1.20% 3 month LIBOR + 0.00% 50 —% 1.14% 3 month LIBOR + 0.00% 50 —% 0.81% 3 month LIBOR + 0.00% 50 —% 1.24% 3 month LIBOR + 0.00% 50 —% 1.31% 3 month LIBOR + 0.00% 50 —% 0.71% 3 month LIBOR + 0.00% 50 —% 0.78% 3 month LIBOR + 0.00% Derivative Financial Statement Impacts The fair value of derivative financial instruments recognized in the Consolidated Balance Sheets follows: Notional Other Other Other Other Type of Term December 31, 2020 Derivatives designated as hedges Fixed-to-floating interest rate swaps $ 2,075 $ 2 $ 100 $ — $ — Fair value 6 months to 14 years Forward starting floating-to-fixed interest rate swaps 900 — 17 — 108 Cash flow 12 to 32 years Currency exchange contracts 946 20 6 20 1 Cash flow 1 to 36 months Commodity contracts 24 4 — — — Cash flow 1 to 12 months Total $ 26 $ 123 $ 20 $ 109 Derivatives not designated as hedges Currency exchange contracts $ 5,227 $ 43 $ 34 1 to 12 months Commodity contracts 18 2 — 1 month Total $ 45 $ 34 December 31, 2019 Derivatives designated as hedges Fixed-to-floating interest rate swaps $ 2,225 $ — $ 57 $ — $ — Fair value 12 months to 15 years Forward starting floating-to-fixed interest rate swaps 500 — 3 — 42 Cash flow 13 to 33 years Currency exchange contracts 1,146 14 3 11 6 Cash flow 1 to 36 months Commodity contracts 9 — — — — Cash flow 1 to 9 months Total $ 14 $ 63 $ 11 $ 48 Derivatives not designated as hedges Currency exchange contracts $ 4,975 $ 48 $ 13 1 to 12 months Commodity contracts 3 — — 1 month Total $ 48 $ 13 The currency exchange contracts shown in the table above as derivatives not designated as hedges are primarily contracts entered into to manage currency volatility or exposure on intercompany receivables, payables and loans. While Eaton does not elect hedge accounting treatment for these derivatives, Eaton targets managing 100% of the intercompany balance sheet exposure to minimize the effect of currency volatility related to the movement of goods and services in the normal course of its operations. This activity represents the great majority of these currency exchange contracts. The cash flows resulting from the settlement of these derivatives have been classified in investing activities in the Consolidated Statement of Cash Flows. As of December 31, 2020, the volume of outstanding commodity contracts that were entered into to hedge forecasted transactions: Commodity December 31, 2020 Term Copper 7 millions of pounds 1 to 12 months Gold 1,474 Troy ounces 1 to 12 months The following amounts were recorded on the Consolidated Balance Sheets related to fixed-to-floating interest rate swaps: Carrying amount of the hedged assets (liabilities) Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged asset (liabilities) (a) Location on Consolidated Balance Sheets December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Long-term debt $ (2,688) $ (2,838) $ (139) $ (97) (a) At December 31, 2020 and 2019, these amounts include the cumulative liability amount of fair value hedging adjustments remaining for which the hedge accounting has been discontinued of $37 and $40, respectively. The impact of hedging activities to the Consolidated Statements of Income are as follow: 2020 Net Sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 17,858 $ 12,408 $ 149 Gain (loss) on derivatives designated as cash flow hedges Currency exchange contracts Hedged item $ 13 $ 5 $ — Derivative designated as hedging instrument (13) (5) — Commodity contracts Hedged item $ — $ (1) $ — Derivative designated as hedging instrument — 1 — Gain (loss) on derivatives designated as fair value hedges Fixed-to-floating interest rate swaps Hedged item $ — $ — $ (45) Derivative designated as hedging instrument — — 45 2019 Net Sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 21,390 $ 14,338 $ 199 Gain (loss) on derivatives designated as cash flow hedges Currency exchange contracts Hedged item $ 7 $ (12) $ — Derivative designated as hedging instrument (7) 12 — Commodity contracts Hedged item $ — $ — $ — Derivative designated as hedging instrument — — — Gain (loss) on derivatives designated as fair value hedges Fixed-to-floating interest rate swaps Hedged item $ — $ — $ (62) Derivative designated as hedging instrument — — 62 The impact of derivatives not designated as hedges to the Consolidated Statements of Income are as follow: Gain (loss) recognized in Consolidated Statements of Income Consolidated Statements of Income classification 2020 2019 Gain (loss) on derivatives not designated as hedges Currency exchange contracts $ 72 $ 73 Interest expense - net Commodity Contracts 4 — Cost of products sold Total $ 76 $ 73 The impact of derivative and non-derivative instruments designated as hedges to the Consolidated Statements of Income and Comprehensive Income follow: Gain (loss) recognized in Location of gain (loss) Gain (loss) reclassified 2020 2019 2020 2019 Derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps $ (52) $ (36) Interest expense - net $ — $ — Currency exchange contracts (13) 3 Net sales and Cost of products sold (18) 5 Commodity contracts 5 — Cost of products sold 1 — Non-derivative designated as net Foreign currency denominated debt (173) 15 Interest expense - net — — Total $ (233) $ (18) $ (17) $ 5 At December 31, 2020, a gain of $4 of estimated unrealized net gains or losses associated with our cash flow hedges were expected to be reclassified to income from Accumulated other comprehensive loss within the next twelve months. These reclassifications relate to our designated foreign currency and commodity hedges that will mature in the next 12 months.

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES In the second quarter of 2020, Eaton decided to undertake a multi-year restructuring program to reduce its cost structure and gain efficiencies in its business segments and at corporate in order to respond to declining market conditions. Restructuring charges incurred under this program were $214 in 2020. These restructuring activities are expected to incur additional expenses of $61 and $5 in 2021 and 2022, respectively, primarily comprised of plant closing and other costs, resulting in total estimated charges of $280 for the entire program. A summary of restructuring program charges follows: 2020 Workforce reductions $ 172 Plant closing and other 42 Total before income taxes 214 Income tax benefit 44 Total after income taxes $ 170 Per ordinary share - diluted $ 0.42 Restructuring program charges related to the following segments: 2020 Electrical Americas $ 18 Electrical Global 55 Aerospace 34 Vehicle 102 eMobility 1 Corporate 4 Total $ 214 A summary of liabilities related to workforce reductions, plant closing and other associated costs follows: Workforce reductions Plant closing and other Total Balance at January 1, 2020 $ — $ — $ — Liability recognized 172 42 214 Payments, utilization and translation (33) (39) (72) Balance at December 31, 2020 $ 139 $ 3 $ 142 These restructuring program charges were included in Cost of products sold, Selling and administrative expense, Research and development expense, or Other expense - net, as appropriate. In Business Segment Information, these restructuring program charges are treated as Corporate items. See Note 17 for additional information about business segments.

BUSINESS SEGMENT AND GEOGRAPHIC

BUSINESS SEGMENT AND GEOGRAPHIC REGION INFORMATION	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
BUSINESS SEGMENT AND GEOGRAPHIC REGION INFORMATION	BUSINESS SEGMENT AND GEOGRAPHIC REGION 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 segments are as follows: Electrical Americas and Electrical Global The Electrical Americas segment consists of electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and services that are primarily produced and sold in North and America. The Electrical Global segment consists of electrical components, industrial components, power distribution and assemblies, single phase and three phase power quality, and services that are primarily produced and sold outside of North and South America; as well as hazardous duty electrical equipment, emergency lighting, fire detection, intrinsically safe explosion-proof instrumentation, and structural support systems that are produced and sold globally. The principal markets for these segments are industrial, institutional, governmental, utility, commercial, residential and information technology. These products are used wherever there is a demand for electrical power in commercial buildings, data centers, residences, apartment and office buildings, hospitals, factories, utilities, and industrial and energy facilities. The segments share certain common global customers, but a large number of customers are located regionally. Sales are made through distributors, resellers, and manufacturers' representatives, as well as directly to original equipment manufacturers, utilities, and certain other end users. Hydraulics The Hydraulics segment is a global leader in hydraulics components, systems and services for industrial and mobile equipment. Eaton offers a wide range of power products including pumps, motors and hydraulic power units; a broad range of controls and sensing products including valves, cylinders and electronic controls; a full range of fluid conveyance products including industrial and hydraulic hose, fittings, and assemblies, thermoplastic hose and tubing, couplings, connectors, and assembly equipment; industrial drum and disc brakes. The principal markets for the Hydraulics segment include renewable energy, marine, agriculture, oil and gas, construction, mining, forestry, utility, material handling, truck and bus, machine tools, molding, primary metals, and power generation. Key manufacturing customers in these markets and other customers are located globally. Products are sold and serviced through a variety of channels. Aerospace The Aerospace segment is a leading global supplier of aerospace fuel, hydraulics, and pneumatic systems for commercial and military use, as well as filtration systems for industrial applications. Products include hydraulic power generation systems for aerospace applications including pumps, motors, hydraulic power units, hose and fittings, electro-hydraulic pumps; controls and sensing products including valves, cylinders, electronic controls, electromechanical actuators, sensors, aircraft flap and slat systems and nose wheel steering systems; fluid conveyance products, including hose, thermoplastic tubing, fittings, adapters, couplings, sealing and ducting; fuel systems including fuel pumps, sensors, valves, adapters and regulators; high performance interconnect products including wiring connectors and cables. The Aerospace segment also includes filtration systems including hydraulic filters, bag filters, strainers and cartridges; and golf grips. The principal markets for the Aerospace segment are manufacturers of commercial and military aircraft and related after-market customers, as well as industrial applications. These manufacturers and other customers operate globally. Products are sold and serviced through a variety of channels. Vehicle The Vehicle segment is a leader in the design, manufacture, marketing, and supply of: drivetrain, powertrain systems and critical components that reduce emissions and improve fuel economy, stability, performance, and safety of cars, light trucks, and commercial vehicles. Products include transmissions, clutches, hybrid power systems, superchargers, engine valves and valve actuation systems, cylinder heads, locking and limited slip differentials, transmission controls, and fuel vapor components for the global vehicle industry. The principal markets for the Vehicle segment are original equipment manufacturers and aftermarket customers of heavy-, medium-, and light-duty trucks, SUVs, CUVs, passenger cars and agricultural equipment. eMobility The eMobility segment designs, manufactures, markets, and supplies electrical and electronic components and systems that improve the power management and performance of both on-road and off-road vehicles. Products include high voltage inverters, converters, fuses, onboard chargers, circuit protection units, vehicle controls, power distribution, fuel tank isolation valves, and commercial vehicle hybrid systems. The principle markets for the eMobility segment are original equipment manufacturers and aftermarket customers of passenger cars, commercial vehicles, and construction, agriculture, and mining equipment. Other Information No single customer represented greater than 10% of net sales in 2020, 2019 or 2018, respectively. The accounting policies of the business segments are generally the same as the policies described in Note 1, except that operating profit only reflects the service cost component and the cost of any special termination benefits related to pensions and other postretirement benefits. Intersegment sales and transfers are accounted for at the same prices as if the sales and transfers were made to third parties. These intersegment sales are eliminated in consolidation. Operating profit includes the operating profit from intersegment sales. For purposes of business segment performance measurement, the Company does not allocate items that are of a non-operating nature or are of a corporate or functional governance nature. Corporate expenses consist of all the Company's costs associated with acquisitions, divestitures, and gains and losses on the sale of certain businesses, restructuring program costs (Note 16) and corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs. Identifiable assets of the business segments exclude goodwill, other intangible assets, and general corporate assets, which principally consist of certain cash, short-term investments, deferred income taxes, certain accounts receivable, certain property, plant and equipment, and certain other assets. Business Segment Information 2020 2019 2018 Net sales Electrical Americas $ 6,680 $ 8,175 $ 7,914 Electrical Global 4,703 5,172 5,159 Hydraulics 1,842 2,204 2,392 Aerospace 2,223 2,480 2,335 Vehicle 2,118 3,038 3,489 eMobility 292 321 320 Total net sales $ 17,858 $ 21,390 $ 21,609 Segment operating profit (loss) Electrical Americas $ 1,352 $ 1,549 $ 1,372 Electrical Global 750 897 833 Hydraulics 186 193 267 Aerospace 414 595 503 Vehicle 243 460 611 eMobility (8) 17 44 Total segment operating profit 2,937 3,711 3,630 Corporate Amortization of intangible assets (354) (367) (382) Interest expense - net (149) (199) (258) Pension and other postretirement benefits expense (40) (12) (1) Restructuring program charges (214) — — Arbitration decision expense — — (275) Other expense - net (434) (542) (290) Income before income taxes 1,746 2,591 2,424 Income tax expense 331 378 278 Net income 1,415 2,213 2,146 Less net income for noncontrolling interests (5) (2) (1) Net income attributable to Eaton ordinary shareholders $ 1,410 $ 2,211 $ 2,145 2020 2019 2018 Identifiable assets Electrical Americas $ 2,333 $ 2,360 $ 2,529 Electrical Global 2,334 2,319 2,121 Hydraulics — 1,293 1,334 Aerospace 1,363 1,562 1,118 Vehicle 1,950 2,145 2,289 eMobility 180 141 139 Total identifiable assets 8,160 9,820 9,530 Goodwill 12,903 13,456 13,328 Other intangible assets 4,175 4,638 4,846 Corporate 4,099 3,514 3,388 Assets held for sale 2,487 1,377 — Total assets $ 31,824 $ 32,805 $ 31,092 Capital expenditures for property, plant and equipment Electrical Americas $ 95 $ 160 $ 139 Electrical Global 71 106 95 Hydraulics 41 80 98 Aerospace 59 61 48 Vehicle 77 127 143 eMobility 24 8 4 Total 367 542 527 Corporate 22 45 38 Total expenditures for property, plant and equipment $ 389 $ 587 $ 565 Depreciation of property, plant and equipment Electrical Americas $ 101 $ 118 $ 121 Electrical Global 94 93 98 Hydraulics — 58 56 Aerospace 53 37 36 Vehicle 98 102 104 eMobility 6 5 5 Total 352 413 420 Corporate 56 52 53 Total depreciation of property, plant and equipment $ 408 $ 465 $ 473 Geographic Region Information Net sales are measured based on the geographic destination of sales. Long-lived assets consist of property, plant and equipment - net. 2020 2019 2018 Net sales United States $ 10,044 $ 12,336 $ 12,034 Canada 757 941 931 Latin America 939 1,312 1,442 Europe 3,818 4,311 4,553 Asia Pacific 2,300 2,490 2,649 Total $ 17,858 $ 21,390 $ 21,609 Long-lived assets United States $ 1,510 $ 1,821 $ 1,898 Canada 25 24 20 Latin America 249 316 286 Europe 738 797 723 Asia Pacific 442 538 540 Total $ 2,964 $ 3,496 $ 3,467

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Eaton Corporation plc (Eaton or the Company) is a power management company with 2020 net sales of $17.9 billion. Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic and mechanical power – more safely, more efficiently and more reliably. Eaton has approximately 92,000 employees in 60 countries and sells products to customers in more than 175 countries. The consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States. Preparation of the consolidated financial statements requires management to make estimates and assumptions that affect amounts reported in the consolidated financial statements and notes. Actual results could differ from these estimates. Management has evaluated subsequent events through the date the consolidated financial statements were filed with the Securities Exchange Commission.
Consolidation Policy	The consolidated financial statements include the accounts of Eaton and all subsidiaries and other entities it controls. Intercompany transactions and balances have been eliminated. The equity method of accounting is used for investments in associate companies where the Company has significant influence and generally a 20% to 50% ownership interest. Equity investments are evaluated for impairment whenever events or circumstances indicate the book value of the investment exceeds fair value. An impairment would exist if there is an other-than-temporary decline in value. Investments in associate companies included in Other assets were $680 and $714 as of December 31, 2020 and December 31, 2019, respectively, and income from these investments is reported in Other (income) expense - net. Eaton does not have off-balance sheet arrangements with unconsolidated entities.
Foreign Currency Translation	Eaton's functional currency is United States Dollars (USD). The functional currency for most subsidiaries is their local currency. Financial statements for these subsidiaries are translated at year-end exchange rates as to assets and liabilities and weighted-average exchange rates as to revenues and expenses. The resulting translation adjustments are recognized in Accumulated other comprehensive loss.
Adoption of New Accounting Standards	Adoption of New Accounting Standards Eaton adopted Accounting Standards Update 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, in the first quarter of 2020. This standard introduces new guidance for accounting for credit losses on receivables. The Company did not recognize a cumulative-effect adjustment to retained earnings as of January 1, 2020, as the adoption of this standard did not have a material impact on the consolidated financial statements.
Revenue Recognition	Revenue Recognition Sales are recognized when control of promised goods or services are transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Control is transferred when the customer has the ability to direct the use of and obtain benefits from the goods or services. The majority of the Company’s sales agreements contain performance obligations satisfied at a point in time when control is transferred to the customer. Sales recognized over time are generally accounted for using an input measure to determine progress completed at the end of the period. Sales for service contracts generally are recognized as the services are provided. For agreements with multiple performance obligations, judgment is required to determine whether performance obligations specified in these agreements are distinct and should be accounted for as separate revenue transactions for recognition purposes. In these types of agreements, we generally allocate sales price to each distinct obligation based on the price of each item sold in separate transactions. Payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized and payment is due is not significant. Eaton does not evaluate whether the selling price includes a financing interest component for contracts that are less than a year. Sales, value added, and other taxes collected concurrent with revenue are excluded from sales. Shipping and handling costs are treated as fulfillment costs and are included in Cost of products sold. Eaton records reductions to sales for returns, and customer and distributor incentives, primarily comprised of rebates, at the time of the initial sale. Rebates are estimated based on sales terms, historical experience, trend analysis, and projected market conditions in the various markets served. The rebate programs offered vary across businesses due to the numerous markets Eaton serves, but the most common incentives relate to amounts paid or credited to customers for achieving defined volume levels. Returns are estimated at the time of the sale primarily based on historical experience and recorded gross on the Consolidated Balance Sheet. See Note 3 for additional information.
Goodwill and Indefinite Life Intangible Assets	Goodwill and Indefinite Life Intangible Assets Goodwill is evaluated annually for impairment as of July 1 using either a quantitative or qualitative analysis. Goodwill is tested for impairment at the reporting unit level, and is based on the net assets for each reporting unit, including goodwill and intangible assets. The Company’s reporting units are equivalent to the reportable operating segments, except for the Aerospace segment which has two reporting units. Goodwill is assigned to each reporting unit, as this represents the lowest level that constitutes a business and is the level at which management regularly reviews the operating results. The Company performs a quantitative analysis using a discounted cash flow model and other valuation techniques, but may elect to perform a qualitative analysis. Additionally, goodwill is evaluated for impairment whenever an event occurs or circumstances change that would indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The annual goodwill impairment test was performed using a qualitative analysis in 2020 and 2019, except for the eMobility segment in 2020 and the Hydraulics segment in 2019 which used a quantitative analysis. A qualitative analysis is performed by assessing certain trends and factors, including projected market outlook and growth rates, forecasted and actual sales and operating profit margins, discount rates, industry data, and other relevant qualitative factors. These trends and factors are compared to, and based on, the assumptions used in the most recent quantitative analysis performed for each reporting unit. The results of the qualitative analyses did not indicate a need to perform quantitative analysis. Goodwill impairment testing was also performed using quantitative analyses in 2020 for the Electrical Americas, Electrical Global, Hydraulics and Aerospace reporting units due to a reorganization of the Company’s businesses discussed in Note 1 and Note 6, and in 2020 and 2019 as a result of the Hydraulics and Lighting businesses being classified as held for sale as discussed in Note 2. The Company used the relative fair value method to reallocate goodwill. Quantitative analyses were performed by estimating the fair value for each reporting unit using a discounted cash flow model. The model includes estimates of future cash flows, future growth rates, terminal value amounts, and the applicable weighted-average cost of capital used to discount those estimated cash flows. The future cash flows were based on the Company's long-term operating plan and a terminal value was used to estimate the reporting unit's cash flows beyond the period covered by the operating plan. The weighted-average cost of capital is an estimate of the overall after-tax rate of return required by equity and debt market holders of a business enterprise. These analyses require the exercise of judgments, including judgments about appropriate discount rates, perpetual growth rates, revenue growth, and margin assumptions. Sensitivity analyses were performed around certain of these assumptions in order to assess the reasonableness of the assumptions and the resulting estimated fair values. Based on these analyses performed in 2020 and 2019, the fair value of Eaton's reporting units continue to substantially exceed their respective carrying amounts and thus, no impairment exists. Indefinite life intangible assets consist of certain trademarks. They are evaluated annually for impairment as of July 1 using either a quantitative or qualitative analysis to determine whether their fair values exceed their respective carrying amounts. Indefinite life intangible asset impairment testing for 2020 and 2019 was performed using a quantitative analysis. The Company determines the fair value of these assets using a royalty relief methodology similar to that employed when the associated assets were acquired, but using updated estimates of future sales, cash flows, and profitability. Additionally, indefinite life intangible assets are evaluated for impairment whenever an event occurs or circumstances change that would indicate that it is more likely than not that the asset is impaired. For 2020 and 2019, the fair value of indefinite lived intangible assets exceeded the respective carrying value.
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating lease assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. Lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. As most leases do not provide an implicit interest rate, Eaton uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The length of a lease term includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise those options. The Company made an accounting policy election to not recognize lease assets or liabilities for leases with a term of 12 months or less. Additionally, when accounting for leases, the Company combines payments for leased assets, related services and other components of a lease.
Other Long-Lived Assets	Other Long-Lived Assets Depreciation and amortization for property, plant and equipment, and intangible assets subject to amortization, are generally computed by the straight-line method and included in Cost of products sold, Selling and administrative expense, and Research and development expense, as appropriate. Cost of buildings are depreciated generally over 40 years and machinery and equipment over 3 to 10 years. At December 31, 2020, the weighted-average amortization period for intangible assets subject to amortization was 18 years for patents and technology; 17 years for customer relationships; and 18 for certain trademarks. Software is amortized over 5 to 15 years. Other long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Upon indications of impairment, assets and liabilities are grouped at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The asset group would be considered impaired when the estimated future net undiscounted cash flows generated by the asset group are less than its carrying value. Determining asset groups and underlying cash flows requires the use of significant judgment.
Retirement Benefits Plans	Retirement Benefits Plans For the principal pension plans in the United States, Canada, Puerto Rico, and the United Kingdom, the Company uses a market-related value of plan assets to calculate the expected return on assets used to determine net periodic benefit costs. The market-related value of plan assets is a calculated value that recognizes changes in the fair value of plan assets over a five year period. All other plans use fair value of plan assets. Net actuarial gains or losses are amortized to expense on a plan-by-plan basis when they exceed the accounting corridor. The Company’s corridors are set at either 8% or 10%, depending on the plan, of the greater of the plan assets or benefit obligations. Gains or losses outside of the corridor are subject to amortization over an average employee future service period that differs by plan. If most or all of the plan’s participants are no longer actively accruing benefits, the average life expectancy is used. The amortization periods on a weighted average basis for United States and Non-United States pension plans are approximately 23 years and 10 years, respectively. The amortization period for other postretirement benefits plans is 7 years.
Asset Retirement Obligations	Asset Retirement Obligations A conditional asset retirement obligation is recognized at fair value when incurred if the fair value of the liability can be reasonably estimated. Uncertainty about the timing or method of settlement of a conditional asset retirement obligation would be considered in the measurement of the liability when sufficient information exists. Eaton believes that for substantially all of its asset retirement obligations, there is an indeterminate settlement date because the range of time over which the Company may settle the obligation is unknown or cannot be estimated. A liability for these obligations will be recognized when sufficient information is available to estimate fair value.
Income Taxes	Income Taxes Deferred income tax assets and liabilities are determined based on the difference between the financial statement and tax basis of the respective assets and liabilities, using enacted tax rates in effect for the year when the differences are expected to reverse. Deferred income tax assets are recognized for income tax loss carryforwards and income tax credit carryforwards. Judgment is required in determining and evaluating income tax provisions and valuation allowances for deferred income tax assets. Eaton recognizes an income tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Eaton evaluates and adjusts these accruals based on changing facts and circumstances. Eaton recognizes interest and penalties related to unrecognized income tax benefits in the provision for income tax expense. Eaton's policy is to recognize income tax effects from accumulated other comprehensive income when individual units of account are sold, terminated, or extinguished. For additional information about income taxes, see Note 11.
Derivative Financial Instruments and Hedging Activities	Derivative Financial Instruments and Hedging Activities Eaton uses derivative financial instruments to manage the exposure to the volatility in raw material costs, currency, and interest rates on certain debt. These instruments are marked to fair value in the accompanying Consolidated Balance Sheets. Changes in the fair value of derivative assets or liabilities (i.e., gains or losses) are recognized depending upon the type of hedging relationship and whether an instrument has been designated as a hedge. For those instruments that qualify for hedge accounting, Eaton designates the hedging instrument, based upon the exposure being hedged, as a cash flow hedge, a fair value hedge, or a hedge of a net investment in a foreign operation. Changes in fair value of these instruments that do not qualify for hedge accounting are recognized immediately in net income. See Note 15 for additional information about hedges and derivative financial instruments.

ACQUISITIONS AND DIVESTITURES_2

ACQUISITIONS AND DIVESTITURES OF BUSINESSES (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	During the measurement period which ended in December 2020, opening balance sheet adjustments were made to finalize Eaton's fair value estimates based on the final valuations received related primarily to intangible assets, goodwill, and the related deferred tax impact, as follows: Preliminary Measurement Period Final Accounts Receivable - net $ 60 $ — $ 60 Inventory 121 4 125 Prepaid expenses and other current assets 5 (1) 4 Property, plant and equipment 101 2 103 Other intangible assets 385 (15) 370 Other assets 8 — 8 Accounts payable (34) 1 (33) Other current liabilities (51) (7) (58) Other noncurrent liabilities (130) 4 (126) Total identifiable net assets 465 (12) 453 Noncontrolling interests (4) 1 (3) Goodwill 442 15 457 Total consideration, net of cash received $ 903 $ 4 $ 907
Schedule of Assets and Liabilities Classified as Held-for-Sale	The assets and liabilities classified as held for sale for the Lighting business on the December 31, 2019 Consolidated Balance Sheet and the Hydraulics business on the December 31, 2020 Consolidated Balance Sheet are as follows: December 31, 2020 December 31, 2019 Accounts receivable $ 345 $ 220 Inventory 369 161 Prepaid expenses and other current assets 18 10 Net property, plant and equipment 504 155 Goodwill 920 470 Other intangible assets 248 330 Operating lease assets 61 25 Deferred income taxes 6 — Other noncurrent assets 16 6 Assets held for sale - current $ 2,487 $ 1,377 Accounts payable $ 241 $ 184 Accrued compensation 26 7 Other current liabilities 101 102 Pension liabilities 60 3 Operating lease liabilities 35 17 Deferred income taxes 3 (1) Other noncurrent liabilities 2 13 Liabilities held for sale - current $ 468 $ 325

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Sales	The Company’s six operating segments and the following tables disaggregate sales by lines of businesses, geographic destination, market channel or end market. 2020 Net sales Products Systems Total Electrical Americas $ 2,255 $ 4,425 $ 6,680 Electrical Global 2,608 2,095 4,703 United States Rest of World Hydraulics $ 796 $ 1,046 1,842 Original Equipment Manufacturers Aftermarket Industrial and Other Aerospace $ 986 $ 685 $ 552 2,223 Commercial Passenger and Light Duty Vehicle $ 1,060 $ 1,058 2,118 eMobility 292 Total $ 17,858 2019 Net sales Products Systems Total Electrical Americas $ 3,675 $ 4,500 $ 8,175 Electrical Global 2,782 2,390 5,172 United States Rest of World Hydraulics $ 1,000 $ 1,204 2,204 Original Equipment Manufacturers Aftermarket Industrial and Other Aerospace $ 1,178 $ 859 $ 443 2,480 Commercial Passenger and Light Duty Vehicle $ 1,538 $ 1,500 3,038 eMobility 321 Total $ 21,390 2018 Net sales Products Systems Total Electrical Americas $ 3,577 $ 4,337 $ 7,914 Electrical Global 2,832 2,327 5,159 United States Rest of World Hydraulics $ 1,078 $ 1,314 2,392 Original Equipment Manufacturers Aftermarket Industrial and Other Aerospace $ 1,102 $ 766 $ 467 2,335 Commercial Passenger and Light Duty Vehicle $ 1,759 $ 1,730 3,489 eMobility 320 Total $ 21,609
Schedule of Changes in Deferred Revenue Liabilities	Changes in the deferred revenue liabilities are as follows: Deferred Revenue Balance at January 1, 2019 $ 248 Customer deposits and billings 982 Revenue recognized in the period (993) Translation 3 Deferred revenue reclassified to held for sale (6) Balance at December 31, 2019 $ 234 Customer deposits and billings 1,041 Revenue recognized in the period (1,014) Translation 7 Deferred revenue reclassified to held for sale (11) Balance at December 31, 2020 $ 257

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Components of Inventory	The components of inventory follow: December 31 2020 2019 Raw materials $ 803 $ 986 Work-in-process 498 640 Finished goods 808 1,179 Total inventory $ 2,109 $ 2,805

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill by segment follow: January 1, 2019 Additions Goodwill reclassified to held for sale Translation December 31, 2019 Additions Goodwill reclassified to held for sale Translation December 31, 2020 Electrical Americas $ 6,819 $ 8 $ (470) $ (5) $ 6,352 $ 97 $ — $ 7 $ 6,456 Electrical Global 3,942 155 — 9 4,106 7 — 182 4,295 Hydraulics 931 — — (10) 921 — (907) (14) — Aerospace 1,264 442 — — 1,706 15 — 56 1,777 Vehicle 292 — — (1) 291 — — 2 293 eMobility 80 — — — 80 — — 2 82 Total $ 13,328 $ 605 $ (470) $ (7) $ 13,456 $ 119 $ (907) $ 235 $ 12,903
Schedule of Other Intangible Assets	A summary of other intangible assets follows: December 31 2020 2019 Historical Accumulated Historical Accumulated Intangible assets not subject to amortization Trademarks $ 1,382 $ 1,516 Intangible assets subject to amortization Customer relationships $ 3,415 $ 1,795 $ 3,260 $ 1,634 Patents and technology 1,428 773 1,542 704 Trademarks 970 505 1,057 457 Other 91 38 92 34 Total intangible assets subject to amortization $ 5,904 $ 3,111 $ 5,951 $ 2,829
Schedule of Amortization Expense of Intangible Assets	Amortization expense related to intangible assets subject to amortization in 2020, and estimated amortization expense for each of the next five years, follows: 2020 $ 342 2021 339 2022 331 2023 287 2024 277 2025 273

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense follows: 2020 2019 Operating lease cost $ 184 $ 166 Finance lease cost: Amortization of lease assets 6 5 Interest on lease liabilities 1 1 Short-term lease cost 18 46 Variable lease cost 3 22 Sublease income (2) (3) Total lease cost $ 210 $ 237 Supplemental cash flow information related to leases follows: 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - payments on operating leases $ (144) $ (168) Operating cash outflows - interest payments on finance leases (1) (1) Financing cash outflows - payments on finance lease obligations (8) (6) Lease assets obtained in exchange for new lease obligations, including leases acquired: Operating leases $ 144 $ 114 Finance leases 16 24
Schedule of Supplemental Balance Sheet Information related to Leases	Supplemental balance sheet information related to leases follows: December 31 2020 2019 Operating Leases Operating lease assets $ 428 $ 436 Other current liabilities 116 121 Operating lease liabilities 326 331 Total operating lease liabilities $ 442 $ 452 Finance Leases Land and buildings $ 13 $ 24 Machinery and equipment 38 18 Accumulated depreciation (16) (16) Net property, plant and equipment $ 35 $ 26 Current portion of long-term debt $ 8 $ 6 Long-term debt 30 21 Total finance lease liabilities $ 38 $ 27 Weighted-average remaining lease term Operating leases 5.5 years 5.1 years Finance leases 7.4 years 6.8 years Weighted-average discount rate Operating leases 3.3 % 3.7 % Finance leases 3.5 % 7.6 %
Schedule of Maturities of Operating Lease Liabilities	Maturities of lease liabilities at December 31, 2020 follows: Operating Leases Finance Leases 2021 $ 129 $ 10 2022 103 8 2023 78 6 2024 54 5 2025 30 2 Thereafter 91 11 Total lease payments 485 42 Less imputed interest 43 4 Total present value of lease liabilities $ 442 $ 38
Schedule of Maturities of Finance Lease Liabilities	Maturities of lease liabilities at December 31, 2020 follows: Operating Leases Finance Leases 2021 $ 129 $ 10 2022 103 8 2023 78 6 2024 54 5 2025 30 2 Thereafter 91 11 Total lease payments 485 42 Less imputed interest 43 4 Total present value of lease liabilities $ 442 $ 38

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-Term Debt, including Current Portion	A summary of long-term debt, including the current portion, follows: December 31 2020 2019 3.875% debentures due 2020 ($150 converted to floating rate by interest rate swap) $ — $ 239 3.47% notes due 2021 ($275 converted to floating rate by interest rate swap) 300 300 0.02% Euro notes due 2021 737 674 8.10% debentures due 2022 ($100 converted to floating rate by interest rate swap) 100 100 2.75% senior notes due 2022 ($1,400 converted to floating rate by interest rate swap) 1,600 1,600 3.68% notes due 2023 ($200 converted to floating rate by interest rate swap) 300 300 0.75% Euro notes due 2024 676 617 6.50% debentures due 2025 145 145 0.70% Euro notes due 2025 614 562 3.10% senior notes due 2027 700 700 7.65% debentures due 2029 ($50 converted to floating rate by interest rate swap) 200 200 4.00% senior notes due 2032 700 700 5.45% debentures due 2034 ($25 converted to floating rate by interest rate swap) 136 137 5.80% notes due 2037 240 240 4.15% senior notes due 2042 1,000 1,000 3.92% senior notes due 2047 300 300 5.25% to 7.875% notes (maturities ranging from 2024 to 2035, including $25 converted to floating rate by interest rate swap) 165 165 Other 144 88 Total long-term debt 8,057 8,067 Less current portion of long-term debt (1,047) (248) Long-term debt less current portion $ 7,010 $ 7,819
Schedule of Maturities of Long-Term Debt	Maturities of long-term debt for each of the next five years follow: 2021 $ 1,047 2022 1,708 2023 306 2024 746 2025 762
Schedule of Interest Paid on Debt	Interest paid on debt follows: 2020 $ 216 2019 279 2018 313

RETIREMENT BENEFITS PLANS (Tabl

RETIREMENT BENEFITS PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of Obligations and Funded Status	Obligations and Funded Status United States Non-United States Other postretirement 2020 2019 2020 2019 2020 2019 Funded status Fair value of plan assets $ 3,463 $ 3,433 $ 2,137 $ 1,903 $ 20 $ 23 Benefit obligations (4,121) (4,028) (3,036) (2,747) (375) (378) Funded status $ (658) $ (595) $ (899) $ (844) $ (355) $ (355) Amounts recognized in the Consolidated Non-current assets $ — $ — $ 95 $ 73 $ — $ — Current liabilities (36) (23) (28) (27) (25) (27) Non-current liabilities (622) (572) (966) (890) (330) (328) Total $ (658) $ (595) $ (899) $ (844) $ (355) $ (355) Amounts recognized in Accumulated other Net actuarial (gain) loss $ 1,046 $ 1,096 $ 1,005 $ 879 $ 1 $ (8) Prior service cost (credit) 5 7 21 25 (3) (17) Total $ 1,051 $ 1,103 $ 1,026 $ 904 $ (2) $ (25)
Schedule of Change in Benefit Obligations	Change in Benefit Obligations United States Non-United States Other postretirement 2020 2019 2020 2019 2020 2019 Balance at January 1 $ 4,028 $ 3,633 $ 2,747 $ 2,285 $ 378 $ 378 Service cost 97 91 73 58 2 2 Interest cost 103 138 45 57 9 14 Actuarial (gain) loss 223 435 217 315 11 14 Gross benefits paid (330) (270) (121) (102) (49) (60) Currency translation — — 137 47 2 2 Plan amendments — 1 1 — — 1 Acquisitions and divestitures — — — (4) — — Benefit obligation reclassified to held for sale — — (65) (4) — — Other — — 2 95 22 27 Balance at December 31 $ 4,121 $ 4,028 $ 3,036 $ 2,747 $ 375 $ 378 Accumulated benefit obligation $ 4,054 $ 3,883 $ 2,862 $ 2,592
Schedule of Change in Plan Assets	Change in Plan Assets United States Non-United States Other postretirement 2020 2019 2020 2019 2020 2019 Balance at January 1 $ 3,433 $ 3,068 $ 1,903 $ 1,560 $ 23 $ 37 Actual return on plan assets 342 618 185 230 1 5 Employer contributions 18 17 104 102 23 15 Gross benefits paid (330) (270) (121) (102) (49) (60) Currency translation — — 69 58 — — Plan assets reclassified to held for sale — — (5) — — — Other — — 2 55 22 26 Balance at December 31 $ 3,463 $ 3,433 $ 2,137 $ 1,903 $ 20 $ 23
Schedule of Components of Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets	The components of pension plans with an accumulated benefit obligation in excess of plan assets at December 31 follow: United States Non-United States 2020 2019 2020 2019 Accumulated benefit obligation $ 4,054 $ 3,883 $ 2,586 $ 1,028 Fair value of plan assets 3,463 3,433 1,756 242
Schedule of Components of Pension Plans with Projected Benefit Obligations in Excess of Plan Assets	The components of pension plans with a projected benefit obligation in excess of plan assets at December 31 follow: United States Non-United States 2020 2019 2020 2019 Projected benefit obligation $ 4,121 $ 4,028 $ 2,763 $ 2,502 Fair value of plan assets 3,463 3,433 1,770 1,585
Schedule of Changes in Pension and Other Postretirement Benefits Liabilities recognized in Accumulated Other Comprehensive Income (Loss)	Changes in pension and other postretirement benefit liabilities recognized in Accumulated other comprehensive loss follow: United States Non-United States Other postretirement 2020 2019 2020 2019 2020 2019 Balance at January 1 $ 1,103 $ 1,160 $ 904 $ 710 $ (25) $ (52) Prior service cost arising during the year — 1 1 — — 1 Net loss (gain) arising during the year 112 52 141 231 10 11 Currency translation — — 48 15 — 1 Other — — 2 — — — Less amounts included in expense during the year (164) (110) (70) (52) 13 14 Net change for the year (52) (57) 122 194 23 27 Balance at December 31 $ 1,051 $ 1,103 $ 1,026 $ 904 $ (2) $ (25)
Schedule of Benefits Expense	Benefits Expense United States Non-United States Other postretirement 2020 2019 2018 2020 2019 2018 2020 2019 2018 Service cost $ 97 $ 91 $ 100 $ 73 $ 58 $ 63 $ 2 $ 2 $ 2 Interest cost 103 138 122 45 57 52 9 14 13 Expected return on plan assets (231) (235) (253) (109) (106) (105) — (2) (3) Amortization 102 62 94 60 38 39 (13) (14) (13) 71 56 63 69 47 49 (2) — (1) Settlements, curtailments and special termination benefits 62 48 46 10 14 2 — — — Total expense $ 133 $ 104 $ 109 $ 79 $ 61 $ 51 $ (2) $ — $ (1)
Schedule of Assumptions Used to Determine Other Postretirement Obligations and Expense	Pension Plans United States Non-United States 2020 2019 2018 2020 2019 2018 Assumptions used to determine benefit obligation at year-end Discount rate 2.48 % 3.22 % 4.28 % 1.59 % 2.02 % 2.83 % Rate of compensation increase 3.12 % 3.14 % 3.14 % 3.02 % 3.05 % 3.10 % Interest rate used to credit cash balance plans 2.02 % 2.59 % 3.13 % 0.53 % 0.54 % 2.60 % Assumptions used to determine expense Discount rate used to determine benefit obligation 3.22 % 4.28 % 3.64 % 2.02 % 2.83 % 2.62 % Discount rate used to determine service cost 3.34 % 4.39 % 3.78 % 2.78 % 4.02 % 3.54 % Discount rate used to determine interest cost 2.75 % 3.94 % 3.19 % 1.82 % 2.56 % 2.31 % Expected long-term return on plan assets 7.25 % 7.25 % 7.52 % 5.84 % 6.42 % 6.40 % Rate of compensation increase 3.14 % 3.14 % 3.15 % 3.05 % 3.10 % 3.11 % Interest rate used to credit cash balance plans 2.59 % 3.13 % 3.02 % 0.54 % 2.60 % 2.91 %
Schedule of Assumptions Used to Determine Other Postretirement Benefits Obligations and Expense	Assumptions used to determine other postretirement benefits obligations and expense follow: Other postretirement 2020 2019 2018 Assumptions used to determine benefit obligation at year-end Discount rate 2.37 % 3.13 % 4.23 % Health care cost trend rate assumed for next year 7.05 % 6.95 % 7.10 % Ultimate health care cost trend rate 4.75 % 4.75 % 4.75 % Year ultimate health care cost trend rate is achieved 2030 2029 2028 Assumptions used to determine expense Discount rate used to determine benefit obligation 3.13 % 4.23 % 3.55 % Discount rate used to determine service cost 3.25 % 4.29 % 3.62 % Discount rate used to determine interest cost 2.67 % 3.85 % 3.04 % Initial health care cost trend rate 6.95 % 7.10 % 8.25 % Ultimate health care cost trend rate 4.75 % 4.75 % 4.75 % Year ultimate health care cost trend rate is achieved 2029 2028 2027
Schedule of Employer Contributions to Pension Plans	Contributions to pension plans that Eaton expects to make in 2021, and made in 2020, 2019 and 2018, follow: 2021 2020 2019 2018 United States plans $ 236 $ 18 $ 17 $ 17 Non-United States plans 101 104 102 109 Total contributions $ 337 $ 122 $ 119 $ 126
Schedule of Expected Pension and Other Postretirement Benefit Payments and Expected Subsidy	For other postretirement benefits liabilities, the expected subsidy receipts related to the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 would reduce the gross payments listed below. Estimated Estimated Estimated other postretirement Gross Medicare prescription 2021 $ 406 $ 100 $ 28 $ (1) 2022 298 101 31 — 2023 289 105 27 — 2024 280 107 26 — 2025 272 112 24 — 2026 - 2030 1,218 613 107 (1)
Schedule of Fair Value of Pension Plan Assets	A summary of the fair value of pension plan assets at December 31, 2020 and 2019, follows: Total Quoted prices Other Unobservable inputs (Level 3) 1 2020 Common collective trusts Non-United States equity and global equities $ 610 $ — $ 610 $ — United States equity 73 — 73 — Fixed income 681 — 681 — Fixed income securities 1,021 — 1,021 — United States treasuries 316 316 — — Bank loans 110 — 110 — Real estate 419 221 14 184 Cash equivalents 184 71 113 — Exchange traded funds 88 88 — — Other 213 — 39 174 Common collective and other trusts measured at net asset value 1,987 Money market funds measured at net asset value 6 Pending purchases and sales of plan assets, and interest (108) Total pension plan assets $ 5,600 $ 696 $ 2,661 $ 358 1 These pension plan assets include private real estate, private credit and private equity funds that generally have redemption notice periods of six months or longer, and are not eligible for redemption until the underlying assets are liquidated or distributed. The Company has unfunded commitments to these funds of approximately $254 at December 31, 2020, which will be satisfied by a reallocation of pension plan assets. Total Quoted prices Other Unobservable inputs (Level 3) 1 2019 Common collective trusts Non-United States equity and global equities $ 606 $ — $ 606 $ — United States equity 74 — 74 — Fixed income 571 — 571 — Fixed income securities 885 — 885 — United States treasuries 330 330 — — Bank loans 104 — 104 — Real estate 299 225 13 61 Cash equivalents 196 67 129 — Exchange traded funds 79 79 — — Other 167 — 38 129 Common collective and other trusts measured at net asset value 2,108 Money market funds measured at net asset value 6 Pending purchases and sales of plan assets, and interest (89) Total pension plan assets $ 5,336 $ 701 $ 2,420 $ 190 1 These pension plan assets include private real estate, private credit and private equity funds that generally have redemption notice periods of six months or longer, and are not eligible for redemption until the underlying assets are liquidated or distributed. The Company has unfunded commitments to these funds of approximately $334 at December 31, 2019 , which will be satisfied by a reallocation of pension plan assets.
Schedule of Fair Value Measurement of Plan Assets using Significant Unobservable Inputs	The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed during 2019 and 2020 due to the following: Real estate Other Total Balance at January 1, 2019 $ 21 $ 75 $ 96 Actual return on plan assets: Gains (losses) relating to assets still held at year-end 4 12 16 Purchases, sales, settlements - net 36 42 78 Transfers into or out of Level 3 — — — Balance at December 31, 2019 61 129 190 Actual return on plan assets: Gains (losses) relating to assets still held at year-end 2 12 14 Purchases, sales, settlements - net 121 33 154 Transfers into or out of Level 3 — — — Balance at December 31, 2020 $ 184 $ 174 $ 358
Schedule of Fair Value of Other Postretirement Benefits Plan Assets	A summary of the fair value of other postretirement benefits plan assets at December 31, 2020 and 2019, follows: Total Quoted prices Other Unobservable 2020 Cash equivalents $ 3 $ 3 $ — $ — Common collective and other trusts measured at net asset value 17 Total other postretirement benefits plan assets $ 20 $ 3 $ — $ — Total Quoted prices Other Unobservable 2019 Cash equivalents $ 5 $ 5 $ — $ — Common collective and other trusts measured at net asset value 18 Total other postretirement benefits plan assets $ 23 $ 5 $ — $ —
Schedule of Employer Contributions to Defined Contribution Benefit Plans, Charged to Expense	The total contributions related to these plans are charged to expense and were as follows: 2020 $ 111 2019 130 2018 124

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Current and Long-Term Warranty Accruals	A summary of the current and long-term warranty accruals follows: 2020 2019 2018 Balance at January 1 $ 187 $ 176 $ 188 Provision 100 204 139 Settled (130) (175) (145) Other 2 (2) (6) Warranty accruals reclassified to held for sale (8) (16) — Balance at December 31 $ 151 $ 187 $ 176

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) before Income Taxes	Income (loss) before income taxes and income tax (benefit) expense are summarized below based on the geographic location of the operation to which such earnings and income taxes are attributable. Income (loss) before income taxes 2020 2019 2018 Ireland $ (132) $ (201) $ (365) Foreign 1,878 2,792 2,789 Total income before income taxes $ 1,746 $ 2,591 $ 2,424
Schedule of Income Tax Expense (Benefit)	Income tax expense (benefit) 2020 2019 2018 Current Ireland $ 15 $ 26 $ 47 Foreign 441 410 370 Total current income tax expense 456 436 417 Deferred Ireland — 3 6 Foreign (125) (61) (145) Total deferred income tax expense (benefit) (125) (58) (139) Total income tax expense $ 331 $ 378 $ 278
Schedule of Reconciliation of Effective Income Tax Rate	Reconciliations of income taxes from the Ireland national statutory rate of 25% to the consolidated effective income tax rate follow: 2020 2019 2018 Income taxes at the applicable statutory rate 25.0 % 25.0 % 25.0 % Ireland operations Ireland tax on trading income (0.3) % (1.0) % (2.0) % Nondeductible interest expense 2.7 % 3.9 % 7.8 % Ireland Other - net 0.4 % 0.1 % 0.1 % Foreign operations Nondeductible goodwill – sale of business 5.3 % — % — % Tax on foreign currency loss — % — % (1.6) % Earnings taxed at other than (16.0) % (14.8) % (19.6) % Other items 2.3 % 3.3 % 2.1 % Worldwide operations Adjustments to tax liabilities (0.6) % (0.5) % 1.1 % Adjustments to valuation allowances 0.2 % (1.4) % (1.4) % Effective income tax expense rate 19.0 % 14.6 % 11.5 %
Schedule of Worldwide Income Tax Payments	Worldwide income tax payments, net of tax refunds, follow: 2020 $ 391 2019 425 2018 379
Schedule of Components of Deferred Income Taxes	Components of noncurrent deferred income taxes follow: 2020 2019 Noncurrent assets and liabilities Noncurrent assets and liabilities Accruals and other adjustments Employee benefits $ 553 $ 514 Depreciation and amortization (1,101) (1,245) Other accruals and adjustments 505 498 Ireland income tax loss carryforwards 1 1 Foreign income tax loss carryforwards 1,815 1,826 Foreign income tax credit carryforwards 309 349 Valuation allowance for income tax loss and income tax (1,863) (1,914) Other valuation allowances (67) (52) Total deferred income taxes 152 (23) Deferred income taxes reported as held for sale 3 1 Deferred income taxes $ 149 $ (24)
Schedule of Foreign Tax Loss Carryforwards and Income Tax Credit Carryforwards	These carryforwards and their respective expiration dates are summarized below: 2021 2026 2031 2036 Not Ireland income tax loss carryforwards $ — $ — $ — $ — $ 8 $ — Ireland deferred income tax assets for income tax loss — — — — 1 (1) Foreign income tax loss carryforwards 641 7,427 893 251 3,067 — Foreign deferred income tax assets for income tax loss carryforwards 88 690 235 76 751 (1,655) Foreign deferred income tax assets for income tax loss carryforwards after ASU 2013-11 76 686 226 76 751 (1,655) Foreign income tax credit carryforwards 110 169 38 2 51 (207) Foreign income tax credit carryforwards after ASU 2013-11 74 144 38 2 51 (207)
Schedule of Gross Unrecognized Income Tax Benefits	A summary of gross unrecognized income tax benefits follows: 2020 2019 2018 Balance at January 1 $ 1,001 $ 913 $ 735 Increases and decreases as a result of positions taken during prior years Transfers from valuation allowances — 15 2 Other increases, including currency translation 10 22 164 Other decreases, including currency translation (10) (10) (35) Increases related to acquired businesses 7 — — Increases as a result of positions taken during the current year 58 80 69 Decreases relating to settlements with tax authorities (26) (16) (3) Decreases as a result of a lapse of the applicable statute of limitations (4) (3) (19) Balance at December 31 $ 1,036 $ 1,001 $ 913

EATON SHAREHOLDERS' EQUITY (Tab

EATON SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Pre-Tax and After-Tax Amounts Recognized in Comprehensive Income (Loss)	The following table summarizes the pre-tax and after-tax amounts recognized in Comprehensive income (loss): 2020 2019 2018 Pre-tax After-tax Pre-tax After-tax Pre-tax After-tax Currency translation and related hedging instruments Gain (loss) from currency translation and related hedging $ 154 $ 164 $ 15 $ 16 $ (613) $ (609) Translation reclassified to earnings 37 37 — — — — 191 201 15 16 (613) (609) Pensions and other postretirement benefits Prior service credit (cost) arising during the year (1) (1) (2) (2) (25) (20) Net gain (loss) arising during the year (263) (203) (294) (232) (358) (274) Currency translation (48) (37) (16) (13) 37 29 Other (2) (1) — — — 5 Amortization of actuarial loss and prior service cost 221 169 148 117 168 121 (93) (73) (164) (130) (178) (139) Cash flow hedges Gain (loss) on derivatives designated as cash flow hedges (60) (47) (33) (27) (8) (6) Changes in cash flow hedges reclassified to earnings 17 14 (5) (4) 16 13 Cash flow hedges, net of reclassification adjustments (43) (33) (38) (31) 8 7 Other comprehensive income (loss) attributable to Eaton ordinary shareholders $ 55 $ 95 $ (187) $ (145) $ (783) $ (741)
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The changes in Accumulated other comprehensive loss follow: Currency translation and related hedging instruments Pensions and other postretirement benefits Cash flow Total Balance at January 1, 2020 $ (2,848) $ (1,408) $ (34) $ (4,290) Other comprehensive income (loss) before 164 (242) (47) (125) Amounts reclassified from Accumulated other 37 169 14 220 Net current-period Other comprehensive 201 (73) (33) 95 Balance at December 31, 2020 $ (2,647) $ (1,481) $ (67) $ (4,195)
Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The reclassifications out of Accumulated other comprehensive loss follow: December 31, 2020 Consolidated Statements of Currency translation losses Sale of business $ (37) Gain on sale of business Tax benefit — Total, net of tax (37) Amortization of defined benefits pension and other Actuarial loss and prior service cost (221) 1 Tax benefit 52 Total, net of tax (169) Gains and (losses) on cash flow hedges Currency exchange contracts (18) Net sales and Cost of products sold Commodity contracts 1 Cost of products sold Tax benefit 3 Total, net of tax (14) Total reclassifications for the period $ (220) 1 These components of Accumulated other comprehensive loss are included in the computation of net periodic benefit cost. See Note 9 for additional information about defined benefits pension and other postretirement benefits items.
Schedule of Net Income per Share	A summary of the calculation of net income per share attributable to Eaton ordinary shareholders follows: (Shares in millions) 2020 2019 2018 Net income attributable to Eaton ordinary shareholders $ 1,410 $ 2,211 $ 2,145 Weighted-average number of ordinary shares outstanding - diluted 404.0 420.8 436.9 Less dilutive effect of equity-based compensation 1.8 1.8 2.6 Weighted-average number of ordinary shares outstanding - basic 402.2 419.0 434.3 Net income per share attributable to Eaton ordinary shareholders Diluted $ 3.49 $ 5.25 $ 4.91 Basic 3.51 5.28 4.93

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of RSU and RSA activity	A summary of the RSU and RSA activity for 2020 follows: (Restricted stock units and awards in millions) Number of restricted Weighted-average fair Non-vested at January 1 1.7 $ 76.79 Granted 0.7 97.75 Vested (0.8) 78.58 Forfeited (0.1) 85.21 Non-vested at December 31 1.5 $ 85.09
Schedule of Information Related to RSUs and RSAs	Information related to RSUs and RSAs follows: 2020 2019 2018 Pre-tax expense for RSUs and RSAs $ 58 $ 57 $ 59 After-tax expense for RSUs and RSAs 46 45 46 Fair value of vested RSUs and RSAs 75 103 71
Schedule of Assumptions Used in Determining Fair Value of PSUs	A summary of the assumptions used in determining fair value of these PSUs follows: 2020 2019 2018 Expected volatility 21 % 21 % 22 % Risk-free interest rate 1.16 % 2.42 % 2.38 % Weighted-average fair value of PSUs granted $ 121.01 $ 92.50 $ 100.86
Schedule of PSU Activity	A summary of these PSUs that vested follows: (Performance share units in millions) 2020 2019 2018 Percent payout 178 % 130 % 116 % Shares vested 0.4 0.3 0.5 A summary of the 2020 activity for these PSUs follows: (Performance share units in millions) Number of performance Weighted-average fair Non-vested at January 1 0.6 $ 96.14 Granted 1 0.2 121.01 Adjusted for performance results achieved 2 0.2 100.86 Vested (0.4) 100.86 Forfeited (0.1) 101.56 Non-vested at December 31 0.5 $ 105.47 1 Performance shares granted assuming the Company will perform at target relative to peers. 2 Adjustments for the number of shares vested under the 2018 awards at the end of the three-year performance period ended December 31, 2020, being higher than the target number of shares.
Schedule of Information Related to PSUs	Information related to PSUs follows: 2020 2019 2018 Pre-tax expense for PSUs $ 25 $ 21 $ 28 After-tax expense for PSUs 20 17 22
Schedule of Assumptions Used in Determining Fair Value of Stock Options	A summary of the assumptions used in determining the fair value of stock options follows: 2020 2019 2018 Expected volatility 24 % 23 % 26 % Expected option life in years 6.6 6.6 6.7 Expected dividend yield 3.2 % 3.2 % 3.0 % Risk-free interest rate 0.5 to 1.5% 1.9 to 2.6% 2.6 to 2.9% Weighted-average fair value of stock options granted $ 15.55 $ 14.08 $ 16.93
Schedule of Stock Option Activity	A summary of stock option activity follows: (Options in millions) Weighted-average Options Weighted-average Aggregate Outstanding at January 1, 2020 $ 69.95 4.1 Granted 98.16 0.7 Exercised 63.49 (1.1) Forfeited and canceled 83.42 (0.1) Outstanding at December 31, 2020 $ 76.93 3.6 6.4 $ 156.6 Exercisable at December 31, 2020 $ 70.02 2.4 5.3 $ 117.9 Reserved for future grants at December 31, 2020 24.8
Schedule of Information Related to Stock Options	Information related to stock options follows: 2020 2019 2018 Pre-tax expense for stock options $ 9 $ 9 $ 11 After-tax expense for stock options 7 7 9 Proceeds from stock options exercised 70 67 29 Income tax benefit related to stock options exercised Tax benefit classified in operating activities in the Consolidated 10 4 3 Intrinsic value of stock options exercised 50 29 17 Total fair value of stock options vested $ 9 $ 9 $ 11 Stock options exercised, in millions of options 1.1 1.2 0.6

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Recognized at Fair Value	A summary of financial instruments recognized at fair value, and the fair value measurements used, follows: Total Quoted prices Other Unobservable 2020 Cash $ 438 $ 438 $ — $ — Short-term investments 664 664 — — Net derivative contracts 31 — 31 — 2019 Cash $ 370 $ 370 $ — $ — Short-term investments 221 221 — — Net derivative contracts 53 — 53 —
Schedule of Carrying Value of Short-Term Investments	A summary of the carrying value, which approximates the fair value due to the short-term maturities of these investments, follows: 2020 2019 Time deposits and certificates of deposit with banks $ 168 $ 150 Money market investments 496 71 Total short-term investments $ 664 $ 221

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	A summary of interest rate swaps outstanding at December 31, 2020, follows: Fixed-to-Floating Interest Rate Swaps Notional amount Fixed interest Floating interest Basis for contracted floating interest rate paid $ 275 3.47% 2.25% 1 month LIBOR + 1.74% 100 8.10% 6.42% 1 month LIBOR + 5.90% 1,400 2.75% 1.20% 1 month LIBOR + 0.58% 200 3.68% 1.58% 1 month LIBOR + 1.07% 25 7.63% 3.16% 6 month LIBOR + 2.48% 50 7.65% 3.03% 6 month LIBOR + 2.57% 25 5.45% 1.02% 6 month LIBOR + 0.28% Forward Starting Floating-to-Fixed Interest Rate Swaps Notional amount Floating interest Fixed interest Basis for contracted floating interest rate received $ 50 —% 3.10% 3 month LIBOR + 0.00% 50 —% 3.06% 3 month LIBOR + 0.00% 50 —% 2.80% 3 month LIBOR + 0.00% 50 —% 2.81% 3 month LIBOR + 0.00% 50 —% 2.64% 3 month LIBOR + 0.00% 50 —% 2.64% 3 month LIBOR + 0.00% 50 —% 2.30% 3 month LIBOR + 0.00% 50 —% 2.08% 3 month LIBOR + 0.00% 50 —% 1.77% 3 month LIBOR + 0.00% 50 —% 1.51% 3 month LIBOR + 0.00% 50 —% 1.50% 3 month LIBOR + 0.00% 50 —% 1.20% 3 month LIBOR + 0.00% 50 —% 1.14% 3 month LIBOR + 0.00% 50 —% 0.81% 3 month LIBOR + 0.00% 50 —% 1.24% 3 month LIBOR + 0.00% 50 —% 1.31% 3 month LIBOR + 0.00% 50 —% 0.71% 3 month LIBOR + 0.00% 50 —% 0.78% 3 month LIBOR + 0.00% As of December 31, 2020, the volume of outstanding commodity contracts that were entered into to hedge forecasted transactions: Commodity December 31, 2020 Term Copper 7 millions of pounds 1 to 12 months Gold 1,474 Troy ounces 1 to 12 months
Schedule of Derivative Financial Instruments Recognized in Condensed Consolidated Balance Sheet	The fair value of derivative financial instruments recognized in the Consolidated Balance Sheets follows: Notional Other Other Other Other Type of Term December 31, 2020 Derivatives designated as hedges Fixed-to-floating interest rate swaps $ 2,075 $ 2 $ 100 $ — $ — Fair value 6 months to 14 years Forward starting floating-to-fixed interest rate swaps 900 — 17 — 108 Cash flow 12 to 32 years Currency exchange contracts 946 20 6 20 1 Cash flow 1 to 36 months Commodity contracts 24 4 — — — Cash flow 1 to 12 months Total $ 26 $ 123 $ 20 $ 109 Derivatives not designated as hedges Currency exchange contracts $ 5,227 $ 43 $ 34 1 to 12 months Commodity contracts 18 2 — 1 month Total $ 45 $ 34 December 31, 2019 Derivatives designated as hedges Fixed-to-floating interest rate swaps $ 2,225 $ — $ 57 $ — $ — Fair value 12 months to 15 years Forward starting floating-to-fixed interest rate swaps 500 — 3 — 42 Cash flow 13 to 33 years Currency exchange contracts 1,146 14 3 11 6 Cash flow 1 to 36 months Commodity contracts 9 — — — — Cash flow 1 to 9 months Total $ 14 $ 63 $ 11 $ 48 Derivatives not designated as hedges Currency exchange contracts $ 4,975 $ 48 $ 13 1 to 12 months Commodity contracts 3 — — 1 month Total $ 48 $ 13 The following amounts were recorded on the Consolidated Balance Sheets related to fixed-to-floating interest rate swaps: Carrying amount of the hedged assets (liabilities) Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged asset (liabilities) (a) Location on Consolidated Balance Sheets December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Long-term debt $ (2,688) $ (2,838) $ (139) $ (97) (a) At December 31, 2020 and 2019, these amounts include the cumulative liability amount of fair value hedging adjustments remaining for which the hedge accounting has been discontinued of $37 and $40, respectively.
Schedule of Impact of Hedging Activities to Consolidated Statement of Income	The impact of hedging activities to the Consolidated Statements of Income are as follow: 2020 Net Sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 17,858 $ 12,408 $ 149 Gain (loss) on derivatives designated as cash flow hedges Currency exchange contracts Hedged item $ 13 $ 5 $ — Derivative designated as hedging instrument (13) (5) — Commodity contracts Hedged item $ — $ (1) $ — Derivative designated as hedging instrument — 1 — Gain (loss) on derivatives designated as fair value hedges Fixed-to-floating interest rate swaps Hedged item $ — $ — $ (45) Derivative designated as hedging instrument — — 45 2019 Net Sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 21,390 $ 14,338 $ 199 Gain (loss) on derivatives designated as cash flow hedges Currency exchange contracts Hedged item $ 7 $ (12) $ — Derivative designated as hedging instrument (7) 12 — Commodity contracts Hedged item $ — $ — $ — Derivative designated as hedging instrument — — — Gain (loss) on derivatives designated as fair value hedges Fixed-to-floating interest rate swaps Hedged item $ — $ — $ (62) Derivative designated as hedging instrument — — 62
Schedule of Amounts Recognized in Net Income	The impact of derivatives not designated as hedges to the Consolidated Statements of Income are as follow: Gain (loss) recognized in Consolidated Statements of Income Consolidated Statements of Income classification 2020 2019 Gain (loss) on derivatives not designated as hedges Currency exchange contracts $ 72 $ 73 Interest expense - net Commodity Contracts 4 — Cost of products sold Total $ 76 $ 73
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)	The impact of derivative and non-derivative instruments designated as hedges to the Consolidated Statements of Income and Comprehensive Income follow: Gain (loss) recognized in Location of gain (loss) Gain (loss) reclassified 2020 2019 2020 2019 Derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps $ (52) $ (36) Interest expense - net $ — $ — Currency exchange contracts (13) 3 Net sales and Cost of products sold (18) 5 Commodity contracts 5 — Cost of products sold 1 — Non-derivative designated as net Foreign currency denominated debt (173) 15 Interest expense - net — — Total $ (233) $ (18) $ (17) $ 5

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Program Charges	A summary of restructuring program charges follows: 2020 Workforce reductions $ 172 Plant closing and other 42 Total before income taxes 214 Income tax benefit 44 Total after income taxes $ 170 Per ordinary share - diluted $ 0.42 Restructuring program charges related to the following segments: 2020 Electrical Americas $ 18 Electrical Global 55 Aerospace 34 Vehicle 102 eMobility 1 Corporate 4 Total $ 214
Schedule of Liabilities Related to Restructuring	A summary of liabilities related to workforce reductions, plant closing and other associated costs follows: Workforce reductions Plant closing and other Total Balance at January 1, 2020 $ — $ — $ — Liability recognized 172 42 214 Payments, utilization and translation (33) (39) (72) Balance at December 31, 2020 $ 139 $ 3 $ 142

BUSINESS SEGMENT AND GEOGRAPH_2

BUSINESS SEGMENT AND GEOGRAPHIC REGION INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Business Segment Information	Business Segment Information 2020 2019 2018 Net sales Electrical Americas $ 6,680 $ 8,175 $ 7,914 Electrical Global 4,703 5,172 5,159 Hydraulics 1,842 2,204 2,392 Aerospace 2,223 2,480 2,335 Vehicle 2,118 3,038 3,489 eMobility 292 321 320 Total net sales $ 17,858 $ 21,390 $ 21,609 Segment operating profit (loss) Electrical Americas $ 1,352 $ 1,549 $ 1,372 Electrical Global 750 897 833 Hydraulics 186 193 267 Aerospace 414 595 503 Vehicle 243 460 611 eMobility (8) 17 44 Total segment operating profit 2,937 3,711 3,630 Corporate Amortization of intangible assets (354) (367) (382) Interest expense - net (149) (199) (258) Pension and other postretirement benefits expense (40) (12) (1) Restructuring program charges (214) — — Arbitration decision expense — — (275) Other expense - net (434) (542) (290) Income before income taxes 1,746 2,591 2,424 Income tax expense 331 378 278 Net income 1,415 2,213 2,146 Less net income for noncontrolling interests (5) (2) (1) Net income attributable to Eaton ordinary shareholders $ 1,410 $ 2,211 $ 2,145
Schedule of Identifiable Assets, Capital Expenditures, and Depreciation by Segment	2020 2019 2018 Identifiable assets Electrical Americas $ 2,333 $ 2,360 $ 2,529 Electrical Global 2,334 2,319 2,121 Hydraulics — 1,293 1,334 Aerospace 1,363 1,562 1,118 Vehicle 1,950 2,145 2,289 eMobility 180 141 139 Total identifiable assets 8,160 9,820 9,530 Goodwill 12,903 13,456 13,328 Other intangible assets 4,175 4,638 4,846 Corporate 4,099 3,514 3,388 Assets held for sale 2,487 1,377 — Total assets $ 31,824 $ 32,805 $ 31,092 Capital expenditures for property, plant and equipment Electrical Americas $ 95 $ 160 $ 139 Electrical Global 71 106 95 Hydraulics 41 80 98 Aerospace 59 61 48 Vehicle 77 127 143 eMobility 24 8 4 Total 367 542 527 Corporate 22 45 38 Total expenditures for property, plant and equipment $ 389 $ 587 $ 565 Depreciation of property, plant and equipment Electrical Americas $ 101 $ 118 $ 121 Electrical Global 94 93 98 Hydraulics — 58 56 Aerospace 53 37 36 Vehicle 98 102 104 eMobility 6 5 5 Total 352 413 420 Corporate 56 52 53 Total depreciation of property, plant and equipment $ 408 $ 465 $ 473
Schedule of Geographic Region Information	Net sales are measured based on the geographic destination of sales. Long-lived assets consist of property, plant and equipment - net. 2020 2019 2018 Net sales United States $ 10,044 $ 12,336 $ 12,034 Canada 757 941 931 Latin America 939 1,312 1,442 Europe 3,818 4,311 4,553 Asia Pacific 2,300 2,490 2,649 Total $ 17,858 $ 21,390 $ 21,609 Long-lived assets United States $ 1,510 $ 1,821 $ 1,898 Canada 25 24 20 Latin America 249 316 286 Europe 738 797 723 Asia Pacific 442 538 540 Total $ 2,964 $ 3,496 $ 3,467

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) employee in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)employeereporting_unitcountry	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Long-Lived Assets [Line Items]
Net sales	$ 17,858	$ 21,390	$ 21,609
Number of Eaton employees | employee	92
Countries of operation | country	60
Countries where products are sold | country	175
Investments in associate companies	$ 680	714
Gain on remeasurement of intercompany loans		37	13
Cash flow reclassifications		179	206
Other postretirement benefits plans
Long-Lived Assets [Line Items]
Defined benefit plan, weighted-average amortization period of gain (loss)	7 years
Aerospace Segment
Long-Lived Assets [Line Items]
Net sales	$ 2,223	$ 2,480	$ 2,335
Number of reporting units | reporting_unit	2
United States | Pension plans
Long-Lived Assets [Line Items]
Defined benefit plan, weighted-average amortization period of gain (loss)	23 years
Foreign Plan | Pension plans
Long-Lived Assets [Line Items]
Defined benefit plan, weighted-average amortization period of gain (loss)	10 years
Patents and technology
Long-Lived Assets [Line Items]
Weighted-average amortization period of finite-lived intangible assets	18 years
Customer relationships
Long-Lived Assets [Line Items]
Weighted-average amortization period of finite-lived intangible assets	17 years
Trademarks
Long-Lived Assets [Line Items]
Weighted-average amortization period of finite-lived intangible assets	18 years
Buildings
Long-Lived Assets [Line Items]
Useful life of property, plant and equipment	40 years
Minimum
Long-Lived Assets [Line Items]
Ownership interest in equity method investment (as a percent)	20.00%
Other postretirement benefits plans, accounting corridor for amortization of net actuarial gains (losses) (as a percent)	8.00%
Minimum | Machinery and equipment
Long-Lived Assets [Line Items]
Useful life of property, plant and equipment	3 years
Minimum | Software
Long-Lived Assets [Line Items]
Useful life of property, plant and equipment	5 years
Maximum
Long-Lived Assets [Line Items]
Ownership interest in equity method investment (as a percent)	50.00%
Other postretirement benefits plans, accounting corridor for amortization of net actuarial gains (losses) (as a percent)	10.00%
Maximum | Machinery and equipment
Long-Lived Assets [Line Items]
Useful life of property, plant and equipment	10 years
Maximum | Software
Long-Lived Assets [Line Items]
Useful life of property, plant and equipment	15 years

ACQUISITIONS AND DIVESTITURES_3

ACQUISITIONS AND DIVESTITURES OF BUSINESSES - Narrative (Details) - USD ($) $ in Millions

Jan. 31, 2021

Jan. 28, 2021

Mar. 02, 2020

Dec. 20, 2019

Apr. 15, 2019

Jul. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Dec. 20, 2020

Dec. 15, 2020

Jan. 21, 2020

Business Acquisition [Line Items]

Cash purchase price, net of cash received

$ 200

$ 1,180

$ 0

Customer relationships

Business Acquisition [Line Items]

Weighted-average useful life of intangible assets acquired

20 years

Technology intangible assets

Business Acquisition [Line Items]

Weighted-average useful life of intangible assets acquired

15 years

Automotive Fluid Conveyance Business

Business Acquisition [Line Items]

Pre-tax gain (loss) on disposal

(66)

Lighting Business | Held-for-sale

Business Acquisition [Line Items]

Pre-tax gain (loss) on disposal

$ 221

Cash purchase price

$ 1,400

Sales of business sold

1,600

Hydraulics Business | Held-for-sale

Business Acquisition [Line Items]

Cash purchase price

$ 3,300

Sales of business sold

1,800

2,200

Ulusoy Elektrik

Business Acquisition [Line Items]

Ownership interest acquired (as a percent)

82.275%

93.70%

Revenue reported by acquired entity for last annual period

$ 126

Cash purchase price

$ 214

Additional consideration transferred

$ 33

ISG

Business Acquisition [Line Items]

Revenue reported by acquired entity for last annual period

$ 18

Souriau-Sunbank

Business Acquisition [Line Items]

Cash purchase price, net of cash received

$ 907

Intangible assets acquired

385

$ 370

Revenue of acquiree since acquisition date

$ 287

3

Souriau-Sunbank | Customer relationships

Business Acquisition [Line Items]

Intangible assets acquired

250

Souriau-Sunbank | Technology intangible assets

Business Acquisition [Line Items]

Intangible assets acquired

$ 95

Power Distribution, Inc.

Business Acquisition [Line Items]

Revenue reported by acquired entity for last annual period

125

HuanYu High Tech

Business Acquisition [Line Items]

Ownership interest acquired (as a percent)

50.00%

Revenue reported by acquired entity for last annual period

$ 106

Tripp Lite | Subsequent Event

Business Acquisition [Line Items]

Consideration to be transferred in acquisition

$ 1,650

CMS | Subsequent Event

Business Acquisition [Line Items]

Consideration to be transferred in acquisition

$ 2,830

ACQUISITIONS AND DIVESTITURES_4

ACQUISITIONS AND DIVESTITURES OF BUSINESSES - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 20, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 20, 2019	Dec. 31, 2018
Allocations
Goodwill		$ 12,903	$ 13,456		$ 13,328
Souriau-Sunbank
Allocations
Accounts Receivable - net	$ 60			$ 60
Inventory	125			121
Prepaid expenses and other current assets	4			5
Property, plant and equipment	103			101
Other intangible assets	370			385
Other assets	8			8
Accounts payable	(33)			(34)
Other current liabilities	(58)			(51)
Other noncurrent liabilities	(126)			(130)
Total identifiable net assets	453			465
Noncontrolling interests	(3)			(4)
Goodwill	457			442
Total consideration, net of cash received	907			$ 903
Measurement Period Adjustments
Inventory	4
Prepaid expenses and other current assets	(1)
Property, plant and equipment	2
Other intangible assets	(15)
Accounts payable	1
Other current liabilities	(7)
Other noncurrent liabilities	4
Total identifiable net assets	(12)
Noncontrolling interests	1
Goodwill	15
Total consideration, net of cash received	$ 4

ACQUISITIONS AND DIVESTITURES_5

ACQUISITIONS AND DIVESTITURES OF BUSINESSES - Sale of Businesses (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 2,487	$ 1,377
Hydraulics Business | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable	345
Inventory	369
Prepaid expenses and other current assets	18
Net property, plant and equipment	504
Goodwill	920
Other intangible assets	248
Operating lease assets	61
Deferred income taxes	6
Other noncurrent assets	16
Assets held for sale	2,487
Accounts payable	241
Accrued compensation	26
Other current liabilities	101
Pension liabilities	60
Operating lease liabilities	35
Deferred income taxes	3
Other noncurrent liabilities	2
Liabilities held for sale - current	$ 468
Lighting Business | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable		220
Inventory		161
Prepaid expenses and other current assets		10
Net property, plant and equipment		155
Goodwill		470
Other intangible assets		330
Operating lease assets		25
Deferred income taxes		1
Other noncurrent assets		6
Assets held for sale		1,377
Accounts payable		184
Accrued compensation		7
Other current liabilities		102
Pension liabilities		3
Operating lease liabilities		17
Other noncurrent liabilities		13
Liabilities held for sale - current		$ 325

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)operating_segment	Dec. 31, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Sales recognized over time, as a percent of Consolidated Net Sales (less than) (as a percent)	5.00%
Number of operating segments | operating_segment	6
Accounts receivables from customers	$ 2,539	$ 3,090
Unbilled receivables	90	$ 101
Backlog of unsatisfied or partially satisfied obligations	$ 5,600
Backlog expected to be recognized in the next twelve months (as a percent)	88.00%

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Sales (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 17,858	$ 21,390	$ 21,609
United States
Disaggregation of Revenue [Line Items]
Net sales	10,044	12,336	12,034
Electrical Americas
Disaggregation of Revenue [Line Items]
Net sales	6,680	8,175	7,914
Electrical Americas | Products
Disaggregation of Revenue [Line Items]
Net sales	2,255	3,675	3,577
Electrical Americas | Systems
Disaggregation of Revenue [Line Items]
Net sales	4,425	4,500	4,337
Electrical Global
Disaggregation of Revenue [Line Items]
Net sales	4,703	5,172	5,159
Electrical Global | Products
Disaggregation of Revenue [Line Items]
Net sales	2,608	2,782	2,832
Electrical Global | Systems
Disaggregation of Revenue [Line Items]
Net sales	2,095	2,390	2,327
Hydraulics
Disaggregation of Revenue [Line Items]
Net sales	1,842	2,204	2,392
Hydraulics | United States
Disaggregation of Revenue [Line Items]
Net sales	796	1,000	1,078
Hydraulics | Rest of World
Disaggregation of Revenue [Line Items]
Net sales	1,046	1,204	1,314
Aerospace
Disaggregation of Revenue [Line Items]
Net sales	2,223	2,480	2,335
Aerospace | Original Equipment Manufacturers
Disaggregation of Revenue [Line Items]
Net sales	986	1,178	1,102
Aerospace | Aftermarket
Disaggregation of Revenue [Line Items]
Net sales	685	859	766
Aerospace | Industrial and Other
Disaggregation of Revenue [Line Items]
Net sales	552	443	467
Vehicle
Disaggregation of Revenue [Line Items]
Net sales	2,118	3,038	3,489
Vehicle | Commercial
Disaggregation of Revenue [Line Items]
Net sales	1,060	1,538	1,759
Vehicle | Passenger and Light Duty
Disaggregation of Revenue [Line Items]
Net sales	1,058	1,500	1,730
eMobility
Disaggregation of Revenue [Line Items]
Net sales	$ 292	$ 321	$ 320

REVENUE RECOGNITION - Changes i

REVENUE RECOGNITION - Changes in Deferred Revenue Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Movement in Deferred Revenue [Roll Forward]
Balance at beginning of period	$ 234	$ 248
Customer deposits and billings	1,041	982
Revenue recognized in the period	(1,014)	(993)
Translation	7	3
Deferred revenue reclassified to held for sale	(11)	(6)
Balance at end of period	$ 257	$ 234

CREDIT LOSSES FOR RECEIVABLES -

CREDIT LOSSES FOR RECEIVABLES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Credit Loss [Abstract]
Allowance for credit losses	$ 48	$ 49

INVENTORY - Summary (Details)

INVENTORY - Summary (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 803	$ 986
Work-in-process	498	640
Finished goods	808	1,179
Total inventory	$ 2,109	$ 2,805

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Balance at beginning of period	$ 13,456	$ 13,328
Additions	119	605
Goodwill reclassified to held for sale	(907)	(470)
Translation	235	(7)
Balance at end of period	12,903	13,456
Electrical Americas
Goodwill [Roll Forward]
Balance at beginning of period	6,352	6,819
Additions	97	8
Goodwill reclassified to held for sale	0	(470)
Translation	7	(5)
Balance at end of period	6,456	6,352
Electrical Global
Goodwill [Roll Forward]
Balance at beginning of period	4,106	3,942
Additions	7	155
Goodwill reclassified to held for sale	0	0
Translation	182	9
Balance at end of period	4,295	4,106
Hydraulics
Goodwill [Roll Forward]
Balance at beginning of period	921	931
Additions	0	0
Goodwill reclassified to held for sale	(907)	0
Translation	(14)	(10)
Balance at end of period	0	921
Aerospace
Goodwill [Roll Forward]
Balance at beginning of period	1,706	1,264
Additions	15	442
Goodwill reclassified to held for sale	0	0
Translation	56	0
Balance at end of period	1,777	1,706
Vehicle
Goodwill [Roll Forward]
Balance at beginning of period	291	292
Additions	0	0
Goodwill reclassified to held for sale	0	0
Translation	2	(1)
Balance at end of period	293	291
eMobility
Goodwill [Roll Forward]
Balance at beginning of period	80	80
Additions	0	0
Goodwill reclassified to held for sale	0	0
Translation	2	0
Balance at end of period	$ 82	$ 80

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)reporting_unit	Mar. 01, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Goodwill [Line Items]
Goodwill	$ 12,903		$ 13,456	$ 13,328
Electrical Americas
Goodwill [Line Items]
Goodwill	6,456	$ 6,400	6,352	6,819
Electrical Global
Goodwill [Line Items]
Goodwill	4,295	$ 4,000	4,106	3,942
Aerospace
Goodwill [Line Items]
Goodwill	$ 1,777		$ 1,706	$ 1,264
Number of reporting units | reporting_unit	2

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets by Major Class (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Summary of other intangible assets
Intangible assets not subject to amortization	$ 1,382	$ 1,516
Intangible assets subject to amortization
Historical cost	5,904	5,951
Accumulated amortization	3,111	2,829
Customer relationships
Intangible assets subject to amortization
Historical cost	3,415	3,260
Accumulated amortization	1,795	1,634
Patents and technology
Intangible assets subject to amortization
Historical cost	1,428	1,542
Accumulated amortization	773	704
Trademarks
Intangible assets subject to amortization
Historical cost	970	1,057
Accumulated amortization	505	457
Other
Intangible assets subject to amortization
Historical cost	91	92
Accumulated amortization	$ 38	$ 34

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortization Expense of Intangible Assets (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 342
2021	339
2022	331
2023	287
2024	277
2025	$ 273

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 184	$ 166
Finance lease cost: Amortization of lease assets	6	5
Finance lease cost: Interest on lease liabilities	1	1
Short-term lease cost	18	46
Variable lease cost	3	22
Sublease income	(2)	(3)
Total lease cost	$ 210	$ 237

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Rental expense			$ 232
Net gain on sale leaseback transactions	$ 9	$ 16

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information related to Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$ (144)	$ (168)
Operating cash outflows - interest payments on finance leases	(1)	(1)
Financing cash outflows - payments on finance lease obligations	(8)	(6)
Lease assets obtained in exchange for new lease obligations, including leases acquired:
Operating leases	144	114
Finance leases	$ 16	$ 24

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease assets	$ 428	$ 436
Other current liabilities	116	121
Operating lease liabilities	326	331
Total operating lease liabilities	442	452
Accumulated depreciation	(16)	(16)
Net property, plant and equipment	35	26
Current portion of long-term debt	8	6
Long-term debt	30	21
Total finance lease liabilities	$ 38	$ 27
Weighted-average remaining lease term
Operating leases	5 years 6 months	5 years 1 month 6 days
Finance leases	7 years 4 months 24 days	6 years 9 months 18 days
Weighted-average discount rate
Operating leases (as a percent)	3.30%	3.70%
Finance leases (as a percent)	3.50%	7.60%
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet	us-gaap:PropertyPlantAndEquipmentNet
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligations	us-gaap:LongTermDebtAndCapitalLeaseObligations
Land and buildings
Lessee, Lease, Description [Line Items]
Finance Lease, right-of-use asset	$ 13	$ 24
Machinery and equipment
Lessee, Lease, Description [Line Items]
Finance Lease, right-of-use asset	$ 38	$ 18

LEASES - Maturities of Operatin

LEASES - Maturities of Operating and Financing Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 129
2022	103
2023	78
2024	54
2025	30
Thereafter	91
Total lease payments	485
Less imputed interest	43
Total present value of lease liabilities	442	$ 452
Finance Leases
2021	10
2022	8
2023	6
2024	5
2025	2
Thereafter	11
Total lease payments	42
Less imputed interest	4
Total present value of lease liabilities	$ 38	$ 27

DEBT - Long-term Debt, includin

DEBT - Long-term Debt, including Current Portion (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total long-term debt	$ 8,057	$ 8,067
Less current portion of long-term debt	(1,047)	(248)
Long-term debt less current portion	7,010	7,819
Debentures | 3.875% debentures due 2020
Debt Instrument [Line Items]
Total long-term debt	$ 0	239
Debt instrument, stated interest rate (as a percent)	3.875%
Related long term debt converted to floating interest rates by interest rate swaps	$ 150
Debentures | 8.10% debentures due 2022
Debt Instrument [Line Items]
Total long-term debt	$ 100	100
Debt instrument, stated interest rate (as a percent)	8.10%
Related long term debt converted to floating interest rates by interest rate swaps	$ 100
Debentures | 6.50% debentures due 2025
Debt Instrument [Line Items]
Total long-term debt	$ 145	145
Debt instrument, stated interest rate (as a percent)	6.50%
Debentures | 7.65% debentures due 2029
Debt Instrument [Line Items]
Total long-term debt	$ 200	200
Debt instrument, stated interest rate (as a percent)	7.65%
Related long term debt converted to floating interest rates by interest rate swaps	$ 50
Debentures | 5.45% debentures due 2034
Debt Instrument [Line Items]
Total long-term debt	$ 136	137
Debt instrument, stated interest rate (as a percent)	5.45%
Related long term debt converted to floating interest rates by interest rate swaps	$ 25
Notes | 3.47% notes due 2021
Debt Instrument [Line Items]
Total long-term debt	$ 300	300
Debt instrument, stated interest rate (as a percent)	3.47%
Related long term debt converted to floating interest rates by interest rate swaps	$ 275
Notes | 0.02% Euro notes due 2021
Debt Instrument [Line Items]
Total long-term debt	$ 737	674
Debt instrument, stated interest rate (as a percent)	0.02%
Notes | 3.68% notes due 2023
Debt Instrument [Line Items]
Total long-term debt	$ 300	300
Debt instrument, stated interest rate (as a percent)	3.68%
Related long term debt converted to floating interest rates by interest rate swaps	$ 200
Notes | 0.70% Euro notes due 2025
Debt Instrument [Line Items]
Total long-term debt	$ 614	562
Debt instrument, stated interest rate (as a percent)	0.70%
Notes | 5.80% notes due 2037
Debt Instrument [Line Items]
Total long-term debt	$ 240	240
Debt instrument, stated interest rate (as a percent)	5.80%
Notes | 5.25% to 7.875% notes (maturities ranging from 2024 to 2035)
Debt Instrument [Line Items]
Total long-term debt	$ 165	165
Related long term debt converted to floating interest rates by interest rate swaps	$ 25
Notes | 5.25% to 7.875% notes (maturities ranging from 2024 to 2035) | Minimum
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	5.25%
Notes | 5.25% to 7.875% notes (maturities ranging from 2024 to 2035) | Maximum
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	7.875%
Senior notes | 2.75% senior notes due 2022
Debt Instrument [Line Items]
Total long-term debt	$ 1,600	1,600
Debt instrument, stated interest rate (as a percent)	2.75%
Related long term debt converted to floating interest rates by interest rate swaps	$ 1,400
Senior notes | 0.75% Euro notes due 2024
Debt Instrument [Line Items]
Total long-term debt	$ 676	617
Debt instrument, stated interest rate (as a percent)	0.75%
Senior notes | 3.10% senior notes due 2027
Debt Instrument [Line Items]
Total long-term debt	$ 700	700
Debt instrument, stated interest rate (as a percent)	3.10%
Senior notes | 4.00% senior notes due 2032
Debt Instrument [Line Items]
Total long-term debt	$ 700	700
Debt instrument, stated interest rate (as a percent)	4.00%
Senior notes | 4.15% senior notes due 2042
Debt Instrument [Line Items]
Total long-term debt	$ 1,000	1,000
Debt instrument, stated interest rate (as a percent)	4.15%
Senior notes | 3.92% senior notes due 2047
Debt Instrument [Line Items]
Total long-term debt	$ 300	300
Debt instrument, stated interest rate (as a percent)	3.92%
Other long-term debt
Debt Instrument [Line Items]
Total long-term debt	$ 144	$ 88

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($) $ in Millions	Nov. 07, 2019	Nov. 17, 2017	Dec. 31, 2020	Dec. 31, 2019
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 2,000
Borrowings outstanding			0	$ 0
Letter of Credit
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			1,010
Letters of credit outstanding, amount			$ 268
3.47% notes due 2021 | Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)			3.47%
0.02% Euro notes due 2021 | Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)			0.02%
3.68% notes due 2023 | Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)			3.68%
0.75% Euro notes due 2024 | Senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)			0.75%
0.70% Euro notes due 2025 | Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)			0.70%
Refinanced Five-Year Revolving Credit Facility - 2022 | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 750
Debt instrument, term (in years)		5 years
Refinanced Four-Year Revolving Credit Facility - 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 500
Debt instrument, term (in years)	4 years
Five-Year Revolving Credit Facility - 2024 | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 750
Debt instrument, term (in years)	5 years

DEBT - Maturities of Long-term

DEBT - Maturities of Long-term Debt (Details) $ in Millions	Dec. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021	$ 1,047
2022	1,708
2023	306
2024	746
2025	$ 762

DEBT - Interest Paid on Debt (D

DEBT - Interest Paid on Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Interest paid on debt	$ 216	$ 279	$ 313

RETIREMENT BENEFITS PLANS - Obl

RETIREMENT BENEFITS PLANS - Obligations and Funded Status (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Funded status
Fair value of plan assets	$ 5,600	$ 5,336
Pension plans | United States
Funded status
Fair value of plan assets	3,463	3,433	$ 3,068
Benefit obligations	(4,121)	(4,028)	(3,633)
Funded status	(658)	(595)
Amounts recognized in the Consolidated Balance Sheets
Non-current assets	0	0
Current liabilities	(36)	(23)
Non-current liabilities	(622)	(572)
Total	(658)	(595)
Amounts recognized in Accumulated other comprehensive loss (pre-tax)
Net actuarial (gain) loss	1,046	1,096
Prior service cost (credit)	5	7
Total	1,051	1,103	1,160
Pension plans | Foreign Plan
Funded status
Fair value of plan assets	2,137	1,903	1,560
Benefit obligations	(3,036)	(2,747)	(2,285)
Funded status	(899)	(844)
Amounts recognized in the Consolidated Balance Sheets
Non-current assets	95	73
Current liabilities	(28)	(27)
Non-current liabilities	(966)	(890)
Total	(899)	(844)
Amounts recognized in Accumulated other comprehensive loss (pre-tax)
Net actuarial (gain) loss	1,005	879
Prior service cost (credit)	21	25
Total	1,026	904	710
Other postretirement benefits plans
Funded status
Fair value of plan assets	20	23	37
Benefit obligations	(375)	(378)	(378)
Funded status	(355)	(355)
Amounts recognized in the Consolidated Balance Sheets
Non-current assets	0	0
Current liabilities	(25)	(27)
Non-current liabilities	(330)	(328)
Total	(355)	(355)
Amounts recognized in Accumulated other comprehensive loss (pre-tax)
Net actuarial (gain) loss	1	(8)
Prior service cost (credit)	(3)	(17)
Total	$ (2)	$ (25)	$ (52)

RETIREMENT BENEFITS PLANS - Cha

RETIREMENT BENEFITS PLANS - Change in Benefit Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension plans | United States
Change in benefit obligations
Balance at January 1	$ 4,028	$ 3,633
Service cost	97	91	$ 100
Interest cost	103	138	122
Actuarial (gain) loss	223	435
Gross benefits paid	(330)	(270)
Currency translation	0	0
Plan amendments	0	1
Acquisitions and divestitures	0	0
Benefit obligation reclassified to held for sale	0	0
Other	0	0
Balance at December 31	4,121	4,028	3,633
Accumulated benefit obligation	4,054	3,883
Pension plans | Foreign Plan
Change in benefit obligations
Balance at January 1	2,747	2,285
Service cost	73	58	63
Interest cost	45	57	52
Actuarial (gain) loss	217	315
Gross benefits paid	(121)	(102)
Currency translation	137	47
Plan amendments	1	0
Acquisitions and divestitures	0	(4)
Benefit obligation reclassified to held for sale	(65)	(4)
Other	2	95
Balance at December 31	3,036	2,747	2,285
Accumulated benefit obligation	2,862	2,592
Other postretirement benefits plans
Change in benefit obligations
Balance at January 1	378	378
Service cost	2	2	2
Interest cost	9	14	13
Actuarial (gain) loss	11	14
Gross benefits paid	(49)	(60)
Currency translation	2	2
Plan amendments	0	1
Acquisitions and divestitures	0	0
Benefit obligation reclassified to held for sale	0	0
Other	22	27
Balance at December 31	$ 375	$ 378	$ 378

RETIREMENT BENEFITS PLANS - C_2

RETIREMENT BENEFITS PLANS - Change in Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in plan assets
Balance at January 1	$ 5,336
Balance at December 31	5,600	$ 5,336
Pension plans
Change in plan assets
Employer contributions	122	119	$ 126
Pension plans | United States
Change in plan assets
Balance at January 1	3,433	3,068
Actual return on plan assets	342	618
Employer contributions	18	17	17
Gross benefits paid	(330)	(270)
Currency translation	0	0
Plan assets reclassified to held for sale	0	0
Other	0	0
Balance at December 31	3,463	3,433	3,068
Pension plans | Foreign Plan
Change in plan assets
Balance at January 1	1,903	1,560
Actual return on plan assets	185	230
Employer contributions	104	102	109
Gross benefits paid	(121)	(102)
Currency translation	69	58
Plan assets reclassified to held for sale	(5)	0
Other	2	55
Balance at December 31	2,137	1,903	1,560
Other postretirement benefits plans
Change in plan assets
Balance at January 1	23	37
Actual return on plan assets	1	5
Employer contributions	23	15
Gross benefits paid	(49)	(60)
Currency translation	0	0
Plan assets reclassified to held for sale	0	0
Other	22	26
Balance at December 31	$ 20	$ 23	$ 37

RETIREMENT BENEFITS PLANS - Com

RETIREMENT BENEFITS PLANS - Components of Pension Plans with Accumulated and Projected Benefit Obligation in Excess of Plan Assets (Details) - Pension plans - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
United States
Components of pension plans with an accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	$ 4,054	$ 3,883
Fair value of plan assets	3,463	3,433
Components of pension plans with a projected benefit obligation in excess of plan assets
Projected benefit obligation	4,121	4,028
Fair value of plan assets	3,463	3,433
Foreign Plan
Components of pension plans with an accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	2,586	1,028
Fair value of plan assets	1,756	242
Components of pension plans with a projected benefit obligation in excess of plan assets
Projected benefit obligation	2,763	2,502
Fair value of plan assets	$ 1,770	$ 1,585

RETIREMENT BENEFITS PLANS - C_3

RETIREMENT BENEFITS PLANS - Changes in Pension and Other Postretirement Liabilities Recognized in AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Pension plans | United States
Changes in pension and other postretirement benefit liabilities recognized in Accumulated other comprehensive loss
Balance at January 1	$ 1,103	$ 1,160
Prior service cost arising during the year	0	1
Net loss (gain) arising during the year	112	52
Currency translation	0	0
Other	0	0
Less amounts included in expense during the year	(164)	(110)
Net change for the year	(52)	(57)
Balance at December 31	1,051	1,103
Pension plans | Foreign Plan
Changes in pension and other postretirement benefit liabilities recognized in Accumulated other comprehensive loss
Balance at January 1	904	710
Prior service cost arising during the year	1	0
Net loss (gain) arising during the year	141	231
Currency translation	48	15
Other	2	0
Less amounts included in expense during the year	(70)	(52)
Net change for the year	122	194
Balance at December 31	1,026	904
Other postretirement benefits plans
Changes in pension and other postretirement benefit liabilities recognized in Accumulated other comprehensive loss
Balance at January 1	(25)	(52)
Prior service cost arising during the year	0	1
Net loss (gain) arising during the year	10	11
Currency translation	0	1
Other	0	0
Less amounts included in expense during the year	13	14
Net change for the year	23	27
Balance at December 31	$ (2)	$ (25)

RETIREMENT BENEFITS PLANS - Ben

RETIREMENT BENEFITS PLANS - Benefits Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension plans
Defined Benefit Plans and Other Postretirement Benefit Plans
Total expense		$ 165
Pension plans | United States
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 97	91	$ 100
Interest cost	103	138	122
Expected return on plan assets	(231)	(235)	(253)
Amortization	102	62	94
Benefit plans	71	56	63
Settlements, curtailments and special termination benefits	62	48	46
Total expense	133	104	109
Pension plans | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	73	58	63
Interest cost	45	57	52
Expected return on plan assets	(109)	(106)	(105)
Amortization	60	38	39
Benefit plans	69	47	49
Settlements, curtailments and special termination benefits	10	14	2
Total expense	79	61	51
Other postretirement benefits plans
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	2	2	2
Interest cost	9	14	13
Expected return on plan assets	0	(2)	(3)
Amortization	(13)	(14)	(13)
Benefit plans	(2)	0	(1)
Settlements, curtailments and special termination benefits	0	0	0
Total expense	$ (2)	0	$ (1)
Automotive Fluid Conveyance Business | Pension plans
Defined Benefit Plans and Other Postretirement Benefit Plans
Settlements, curtailments and special termination benefits		$ 8

RETIREMENT BENEFITS PLANS - Pen

RETIREMENT BENEFITS PLANS - Pension Plans Assumptions (Details) - Pension plans	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
United States
Assumptions used to determine benefit obligation at year-end (as a percent)
Discount rate		2.48%	3.22%	4.28%
Rate of compensation increase		3.12%	3.14%	3.14%
Interest rate used to credit cash balance plans		2.02%	2.59%	3.13%
Assumptions used to determine expense (as a percent)
Discount rate used to determine benefit obligation		3.22%	4.28%	3.64%
Discount rate used to determine service cost		3.34%	4.39%	3.78%
Discount rate used to determine interest cost		2.75%	3.94%	3.19%
Expected long-term return on plan assets		7.25%	7.25%	7.52%
Rate of compensation increase		3.14%	3.14%	3.15%
Interest rate used to credit cash balance plans		2.59%	3.13%	3.02%
Foreign Plan
Assumptions used to determine benefit obligation at year-end (as a percent)
Discount rate		1.59%	2.02%	2.83%
Rate of compensation increase		3.02%	3.05%	3.10%
Interest rate used to credit cash balance plans		0.53%	0.54%	2.60%
Assumptions used to determine expense (as a percent)
Discount rate used to determine benefit obligation		2.02%	2.83%	2.62%
Discount rate used to determine service cost		2.78%	4.02%	3.54%
Discount rate used to determine interest cost		1.82%	2.56%	2.31%
Expected long-term return on plan assets		5.84%	6.42%	6.40%
Rate of compensation increase		3.05%	3.10%	3.11%
Interest rate used to credit cash balance plans		0.54%	2.60%	2.91%
Forecast | United States
Assumptions used to determine expense (as a percent)
Expected long-term return on plan assets	6.75%
Forecast | Foreign Plan
Assumptions used to determine expense (as a percent)
Expected long-term return on plan assets	5.62%

RETIREMENT BENEFITS PLANS - Oth

RETIREMENT BENEFITS PLANS - Other Postretirement Benefits Plan Assumptions (Details) - Other postretirement benefits plans	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assumptions used to determine benefit obligation at year-end (as a percent)
Discount rate	2.37%	3.13%	4.23%
Health care cost trend rate assumed for next year	7.05%	6.95%	7.10%
Ultimate health care cost trend rate	4.75%	4.75%	4.75%
Year ultimate health care cost trend rate is achieved	2030	2029	2028
Assumptions used to determine expense (as a percent)
Discount rate used to determine benefit obligation	3.13%	4.23%	3.55%
Discount rate used to determine service cost	3.25%	4.29%	3.62%
Discount rate used to determine interest cost	2.67%	3.85%	3.04%
Initial health care cost trend rate	6.95%	7.10%	8.25%
Ultimate health care cost trend rate	4.75%	4.75%	4.75%
Year ultimate health care cost trend rate is achieved	2029	2028	2027

RETIREMENT BENEFITS PLANS - Emp

RETIREMENT BENEFITS PLANS - Employer Contributions to Retirement Benefits Plans (Details) - Pension plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans
Expected future contributions, defined benefit plans	$ 337
Employer contributions to pension plans	122	$ 119	$ 126
United States
Defined Benefit Plans and Other Postretirement Benefit Plans
Expected future contributions, defined benefit plans	236
Employer contributions to pension plans	18	17	17
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Expected future contributions, defined benefit plans	101
Employer contributions to pension plans	$ 104	$ 102	$ 109

RETIREMENT BENEFITS PLANS - Est

RETIREMENT BENEFITS PLANS - Estimated Pension and Other Postretirement Benefit Payments (Details) $ in Millions	Dec. 31, 2020USD ($)
Pension plans | United States
Defined Benefit Plans and Other Postretirement Benefit Plans
2021	$ 406
2022	298
2023	289
2024	280
2025	272
2026 - 2030	1,218
Pension plans | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
2021	100
2022	101
2023	105
2024	107
2025	112
2026 - 2030	613
Other postretirement benefits plans
Defined Benefit Plans and Other Postretirement Benefit Plans
2021	28
Medicare prescription drug subsidy 2021	(1)
2022	31
Medicare prescription drug subsidy 2022	0
2023	27
Medicare prescription drug subsidy 2023	0
2024	26
Medicare prescription drug subsidy 2024	0
2025	24
Medicare prescription drug subsidy 2025	0
2026 - 2030	107
Medicare prescription drug subsidy 2026 - 2030	$ (1)

RETIREMENT BENEFITS PLANS - Fai

RETIREMENT BENEFITS PLANS - Fair Value of Pension Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
United States pension plans percentage of worldwide pension assets	62.00%
United Kingdom pension plans percentage of worldwide pension assets	30.00%
United States pension plans' target allocation of United States equities	25.00%
United States pension plans' target allocation of non-United States equities	25.00%
United States pension plans' target allocation of real estate	8.00%
United State pension plans' target allocation of debt securities	37.00%
United States pension plans' target allocation of other, including hedge funds and cash equivalents	5.00%
United Kingdom pension plans' target allocation of equities	48.00%
Unfunded commitments	$ 254	$ 334
Total pension plan assets	5,600	5,336
Pending purchases and sales of plan assets, and interest receivable	(108)	(89)
Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	696	701
Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	2,661	2,420
Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	358	190
Non-United States equity and global equities | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	610	606
Non-United States equity and global equities | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Non-United States equity and global equities | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	610	606
Non-United States equity and global equities | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
United States equity | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	73	74
United States equity | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
United States equity | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	73	74
United States equity | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Fixed income | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	681	571
Fixed income | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Fixed income | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	681	571
Fixed income | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Fixed income securities | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	1,021	885
Fixed income securities | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Fixed income securities | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	1,021	885
Fixed income securities | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
United States treasuries | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	316	330
United States treasuries | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	316	330
United States treasuries | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
United States treasuries | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Bank loans | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	110	104
Bank loans | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Bank loans | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	110	104
Bank loans | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Real estate | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	419	299
Real estate | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	221	225
Real estate | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	14	13
Real estate | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	184	61
Cash equivalents | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	184	196
Cash equivalents | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	71	67
Cash equivalents | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	113	129
Cash equivalents | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Exchange traded funds | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	88	79
Exchange traded funds | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	88	79
Exchange traded funds | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Exchange traded funds | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Other | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	213	167
Other | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	0	0
Other | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	39	38
Other | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	174	129
Common collective and other trusts measured at net asset value | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	1,987	2,108
Money market funds measured at net asset value | Fair Value Measured at Net Asset Value Per Share
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	$ 6	$ 6

RETIREMENT BENEFITS PLANS - C_4

RETIREMENT BENEFITS PLANS - Change in Plan Level 3 Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at January 1	$ 5,336
Balance at December 31	5,600	$ 5,336
Unobservable inputs (Level 3)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at January 1	190
Balance at December 31	358	190
Unobservable inputs (Level 3) | Real estate
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at January 1	61
Balance at December 31	184	61
Unobservable inputs (Level 3) | Other
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at January 1	129
Balance at December 31	174	129
Pension plans | Unobservable inputs (Level 3)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at January 1	190	96
Gains (losses) relating to assets still held at year-end	14	16
Purchases, sales, settlements - net	154	78
Transfers into or out of Level 3	0	0
Balance at December 31	358	190
Pension plans | Unobservable inputs (Level 3) | Real estate
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at January 1	61	21
Gains (losses) relating to assets still held at year-end	2	4
Purchases, sales, settlements - net	121	36
Transfers into or out of Level 3	0	0
Balance at December 31	184	61
Pension plans | Unobservable inputs (Level 3) | Other
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at January 1	129	75
Gains (losses) relating to assets still held at year-end	12	12
Purchases, sales, settlements - net	33	42
Transfers into or out of Level 3	0	0
Balance at December 31	$ 174	$ 129

RETIREMENT BENEFITS PLANS - F_2

RETIREMENT BENEFITS PLANS - Fair Value of Other Postretirement Benefits Plan Assets (Details) - Other postretirement benefits plans - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value of Other Postretirement Benefits Plan Assets [Line Items]
Cash equivalents	$ 3	$ 5
Common Collective Trusts, Fixed Income	17	18
Total other postretirement benefits plan assets	20	23
Quoted prices in active markets for identical assets (Level 1)
Fair Value of Other Postretirement Benefits Plan Assets [Line Items]
Cash equivalents	3	5
Total other postretirement benefits plan assets	3	5
Other observable inputs (Level 2)
Fair Value of Other Postretirement Benefits Plan Assets [Line Items]
Cash equivalents	0	0
Total other postretirement benefits plan assets	0	0
Unobservable inputs (Level 3)
Fair Value of Other Postretirement Benefits Plan Assets [Line Items]
Cash equivalents	0	0
Total other postretirement benefits plan assets	$ 0	$ 0

RETIREMENT BENEFITS PLANS - Def

RETIREMENT BENEFITS PLANS - Defined Contribution Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Employer contributions to defined contribution plans	$ 111	$ 130	$ 124

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Millions	Nov. 28, 2018USD ($)	Aug. 23, 2018USD ($)	Jul. 11, 2018USD ($)	Dec. 31, 2020USD ($)site	Dec. 31, 2019USD ($)
Loss Contingencies [Line Items]
Number of environmental remediation sites world wide | site				114
Number of environmental remediation sites world wide with individual significance | site				0
Accrual for environmental loss contingencies				$ 103	$ 104
Pneumo Abex Case
Loss Contingencies [Line Items]
Damages sought			$ 347
Amount awarded to other party in litigation settlement		$ 293
Payments for legal settlements	$ 297

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Current and Long-Term Warranty Accruals (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current and long-term warranty accruals [Roll Forward]
Balance at January 1	$ 187	$ 176	$ 188
Provision	100	204	139
Settled	(130)	(175)	(145)
Other	2	(2)	(6)
Warranty accruals reclassified to held for sale	(8)	(16)	0
Balance at December 31	$ 151	$ 187	$ 176

INCOME TAXES - Income (Loss) be

INCOME TAXES - Income (Loss) before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income (Loss) Before Income Taxes [Line Items]
Income before income taxes	$ 1,746	$ 2,591	$ 2,424
Ireland
Income (Loss) Before Income Taxes [Line Items]
Income before income taxes	(132)	(201)	(365)
Foreign
Income (Loss) Before Income Taxes [Line Items]
Income before income taxes	$ 1,878	$ 2,792	$ 2,789

INCOME TAXES - Income Tax (Bene

INCOME TAXES - Income Tax (Benefit) Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current
Ireland	$ 15	$ 26	$ 47
Foreign	441	410	370
Total current income tax expense	456	436	417
Deferred
Ireland	0	3	6
Foreign	(125)	(61)	(145)
Total deferred income tax expense (benefit)	(125)	(58)	(139)
Total income tax expense	$ 331	$ 378	$ 278

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of income taxes from appropriate statutory rate to the consolidated effective income tax rate [Line Items]
Income taxes at the applicable statutory rate	25.00%	25.00%	25.00%
Effective income tax expense rate	19.00%	14.60%	11.50%
Ireland operations
Reconciliation of income taxes from appropriate statutory rate to the consolidated effective income tax rate [Line Items]
Ireland tax on trading income	(0.30%)	(1.00%)	(2.00%)
Nondeductible interest expense	2.70%	3.90%	7.80%
Other reconciling items	0.40%	0.10%	0.10%
Foreign operations
Reconciliation of income taxes from appropriate statutory rate to the consolidated effective income tax rate [Line Items]
Other reconciling items	2.30%	3.30%	2.10%
Nondeductible goodwill – sale of business	5.30%	0.00%	0.00%
Tax on foreign currency loss	0.00%	0.00%	(1.60%)
Earnings taxed at other than the applicable statutory tax rate	(16.00%)	(14.80%)	(19.60%)
Worldwide operations
Reconciliation of income taxes from appropriate statutory rate to the consolidated effective income tax rate [Line Items]
Adjustments to tax liabilities	(0.60%)	(0.50%)	1.10%
Adjustments to valuation allowances	0.20%	(1.40%)	(1.40%)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Income tax expense		$ 331,000,000	$ 378,000,000	$ 278,000,000
Effective income tax (benefit) expense rate (as a percent)		19.00%	14.60%	11.50%
Provision for income taxes on undistributed earnings of foreign subsidiaries		$ 0
Undistributed earnings of foreign subsidiaries		28,900,000,000
Unrecognized tax benefits that would impact effective tax rate		681,000,000
Income tax examination, penalties and interest accrued		110,000,000	$ 93,000,000
Brazil
Income Taxes [Abstract]
Net book value of pledged real estate assets		10,000,000
Brazil | Subsequent Event
Income Taxes [Abstract]
Net book value of additional pledged real estate assets during period	$ 5,000,000
Pledged bond	78,000,000
Pledged cash deposits	$ 3,000,000
2011 Notice
Income Taxes [Abstract]
IRS Statutory Notice of Deficiency proposed assessment of additional taxes		75,000,000
Penalties associated with IRS Statutory Notice of Deficiency proposed assessment		52,000,000
2014 Notice
Income Taxes [Abstract]
IRS Statutory Notice of Deficiency proposed assessment of additional taxes		190,000,000
Penalties associated with IRS Statutory Notice of Deficiency proposed assessment		72,000,000
Foreign Tax Authority
Income Taxes [Abstract]
Deferred income taxes		$ 6,000,000
Secretariat of the Federal Revenue Bureau of Brazil | Foreign Tax Authority
Income Taxes [Abstract]
Income tax examination, penalties and interest accrued			91,000,000	$ 67,000,000
Alleged tax deficiency			$ 26,000,000	$ 24,000,000
Number of years estimated to resolve		10 years

INCOME TAXES- Worldwide Income

INCOME TAXES- Worldwide Income Tax Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income taxes paid	$ 391	$ 425	$ 379

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Income Taxes (Details) - Noncurrent assets and liabilities - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accruals and other adjustments
Employee benefits	$ 553	$ 514
Depreciation and amortization	(1,101)	(1,245)
Other accruals and adjustments	505	498
Ireland income tax loss carryforwards	1	1
Foreign income tax loss carryforwards	1,815	1,826
Foreign income tax credit carryforwards	309	349
Valuation allowance for income tax loss and income tax credit carryforwards	(1,863)	(1,914)
Other valuation allowances	(67)	(52)
Total deferred income taxes	152
Total deferred income taxes		(23)
Deferred income taxes reported as held for sale	3	1
Deferred income taxes	$ 149	$ (24)

INCOME TAXES - Operating Loss a

INCOME TAXES - Operating Loss and Tax Credit Carryforwards by Expiration Dates (Details) - Foreign Tax Authority $ in Millions	Dec. 31, 2020USD ($)
2021 through 2025
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	$ 641
Foreign deferred income tax assets for income tax loss carryforwards	88
Foreign income tax credit carryforwards	110
2021 through 2025 | Ireland
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	0
Foreign deferred income tax assets for income tax loss carryforwards	0
2021 through 2025 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax credit carryforwards	74
2021 through 2025 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign deferred income tax assets for income tax loss carryforwards	76
2026 through 2030
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	7,427
Foreign deferred income tax assets for income tax loss carryforwards	690
Foreign income tax credit carryforwards	169
2026 through 2030 | Ireland
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	0
Foreign deferred income tax assets for income tax loss carryforwards	0
2026 through 2030 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax credit carryforwards	144
2026 through 2030 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign deferred income tax assets for income tax loss carryforwards	686
2031 through 2035
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	893
Foreign deferred income tax assets for income tax loss carryforwards	235
Foreign income tax credit carryforwards	38
2031 through 2035 | Ireland
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	0
Foreign deferred income tax assets for income tax loss carryforwards	0
2031 through 2035 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax credit carryforwards	38
2031 through 2035 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign deferred income tax assets for income tax loss carryforwards	226
2036 through 2045
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	251
Foreign deferred income tax assets for income tax loss carryforwards	76
Foreign income tax credit carryforwards	2
2036 through 2045 | Ireland
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	0
Foreign deferred income tax assets for income tax loss carryforwards	0
2036 through 2045 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax credit carryforwards	2
2036 through 2045 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign deferred income tax assets for income tax loss carryforwards	76
Not subject to expiration
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	3,067
Foreign deferred income tax assets for income tax loss carryforwards	751
Foreign income tax credit carryforwards	51
Not subject to expiration | Ireland
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	8
Foreign deferred income tax assets for income tax loss carryforwards	1
Not subject to expiration | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax credit carryforwards	51
Not subject to expiration | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign deferred income tax assets for income tax loss carryforwards	751
Valuation allowance
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	0
Foreign deferred income tax assets for income tax loss carryforwards	1,655
Foreign income tax credit carryforwards	207
Valuation allowance | Ireland
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	0
Foreign deferred income tax assets for income tax loss carryforwards	1
Valuation allowance | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax credit carryforwards	207
Valuation allowance | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign deferred income tax assets for income tax loss carryforwards	$ 1,655

INCOME TAXES - Gross Unrecogniz

INCOME TAXES - Gross Unrecognized Income Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 1,001	$ 913	$ 735
Increases and decreases as a result of positions taken during prior years
Transfers from valuation allowances	0	15	2
Other increases, including currency translation	10	22	164
Other decreases, including currency translation	(10)	(10)	(35)
Increases related to acquired businesses	7	0	0
Increases as a result of positions taken during the current year	58	80	69
Decreases relating to settlements with tax authorities	(26)	(16)	(3)
Decreases as a result of a lapse of the applicable statute of limitations	(4)	(3)	(19)
Balance at December 31	$ 1,036	$ 1,001	$ 913

EATON SHAREHOLDERS' EQUITY - Na

EATON SHAREHOLDERS' EQUITY - Narrative (Details) $ / shares in Units, $ in Millions	Feb. 24, 2021$ / shares	Feb. 24, 2021	Dec. 31, 2020USD ($)employee$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018$ / sharesshares	Dec. 31, 2020€ / shares	Dec. 31, 2020USD ($)holder$ / sharesshares	Dec. 31, 2019€ / shares	Dec. 31, 2019USD ($)$ / sharesshares	Feb. 27, 2019shares
Shareholders Equity Textuals Abstract
Ordinary shares authorized (shares)							750,000,000
Ordinary share par value (USD per share) | $ / shares							$ 0.01
Ordinary shares outstanding (shares)							398,100,000		413,300,000
Ordinary shares issued (shares)							398,100,000		413,300,000
Deferred ordinary shares authorized (shares)							40,000		40,000
Deferred ordinary shares par value (USD per share) | € / shares						€ 1		€ 1
Deferred ordinary shares, shares issued and outstanding (shares)							40,000		40,000
Number of holders of record of Eaton ordinary shares | holder							11,390
Number of current and former employees who were shareholders through various Eaton plans | employee			16,400
Disclosure of Repurchase Agreements [Abstract]
Share repurchase program, authorized (shares)										5,000,000,000
Ordinary shares purchased (shares)			17,100,000	12,500,000
Stock repurchased (shares) | $			$ 1,608	$ 1,000
Employee Trust [Abstract]
Deferred compensation plan trust of shares and marketable secutities | $							$ 3		$ 5
Dividends [Abstract]
Quarterly dividends declared per share (USD per share) | $ / shares			$ 2.92	$ 2.84	$ 2.64
Antidilutive securities excluded from computation of net income per ordinary share (shares)			600,000	800,000	500,000
Preferred A Stock
Shareholders Equity Textuals Abstract
Preferred stock issued (shares)							10,000		10,000
Preferred stock authorized (shares)							10,000		10,000
Preferred stock outstanding (shares)							10,000		10,000
Preferred stock, par value (USD per share) | $ / shares							$ 1		$ 1
Serial Preferred
Shareholders Equity Textuals Abstract
Preferred stock authorized (shares)							10,000,000		10,000,000
Preferred stock outstanding (shares)							0		0
Preferred stock, par value (USD per share) | $ / shares							$ 0.01		$ 0.01
Subsequent Event
Dividends [Abstract]
Quarterly dividends declared per share (USD per share) | $ / shares	$ 0.76
Dividend increase percentage over dividend paid in prior quarter (as a percent)		4.00%

EATON SHAREHOLDERS' EQUITY - Ot

EATON SHAREHOLDERS' EQUITY - Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pre-tax
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	$ 55	$ (187)	$ (783)
After-tax
Reclassification from AOCI, after-tax	(220)
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	95	(145)	(741)
Currency translation and related hedging instruments
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	154	15	(613)
Reclassification from AOCI, pre-tax	37	0	0
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	191	15	(613)
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	164	16	(609)
Reclassification from AOCI, after-tax	37	0	0
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	201	16	(609)
Pensions and other postretirement benefits
Pre-tax
Reclassification from AOCI, pre-tax	221	148	168
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(93)	(164)	(178)
After-tax
Reclassification from AOCI, after-tax	169	117	121
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(73)	(130)	(139)
Prior service credit (cost) arising during the year
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	(1)	(2)	(25)
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	(1)	(2)	(20)
Net gain (loss) arising during the year
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	(263)	(294)	(358)
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	(203)	(232)	(274)
Currency translation
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	(48)	(16)	37
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	(37)	(13)	29
Other
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	(2)	0	0
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	(1)	0	5
Cash flow hedges
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	(60)	(33)	(8)
Reclassification from AOCI, pre-tax	17	(5)	16
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(43)	(38)	8
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	(47)	(27)	(6)
Reclassification from AOCI, after-tax	14	(4)	13
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	$ (33)	$ (31)	$ 7

EATON SHAREHOLDERS' EQUITY - Ac

EATON SHAREHOLDERS' EQUITY - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 16,133	$ 16,142	$ 17,290
Other comprehensive (loss) income before reclassifications	(125)
Amounts reclassified from Accumulated other comprehensive loss (income)	220
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	95	(145)	(741)
Balance at end of period	14,973	16,133	16,142
Currency translation and related hedging instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(2,848)
Other comprehensive (loss) income before reclassifications	164
Amounts reclassified from Accumulated other comprehensive loss (income)	37
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	201
Balance at end of period	(2,647)	(2,848)
Pensions and other postretirement benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,408)
Other comprehensive (loss) income before reclassifications	(242)
Amounts reclassified from Accumulated other comprehensive loss (income)	169
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(73)
Balance at end of period	(1,481)	(1,408)
Cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(34)
Other comprehensive (loss) income before reclassifications	(47)
Amounts reclassified from Accumulated other comprehensive loss (income)	14
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(33)
Balance at end of period	(67)	(34)
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(4,290)	(4,145)	(3,404)
Balance at end of period	$ (4,195)	$ (4,290)	$ (4,145)

EATON SHAREHOLDERS' EQUITY - Re

EATON SHAREHOLDERS' EQUITY - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain on sale of business	$ 221	$ 0	$ 0
Income before income taxes	1,746	2,591	2,424
Income tax benefit	(331)	(378)	(278)
Net income attributable to Eaton ordinary shareholders	1,410	$ 2,211	$ 2,145
Reclassification out of Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income attributable to Eaton ordinary shareholders	(220)
Currency translation and related hedging instruments | Reclassification out of Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain on sale of business	(37)
Income tax benefit	0
Net income attributable to Eaton ordinary shareholders	(37)
Actuarial loss and prior service cost | Reclassification out of Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(221)
Income tax benefit	52
Net income attributable to Eaton ordinary shareholders	(169)
Gains and (losses) on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax benefit	3
Net income attributable to Eaton ordinary shareholders	(14)
Gains and (losses) on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Loss | Currency exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(18)
Gains and (losses) on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Loss | Commodity contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	$ 1

EATON SHAREHOLDERS' EQUITY - Ne

EATON SHAREHOLDERS' EQUITY - Net Income per Ordinary Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Net income attributable to Eaton ordinary shareholders	$ 1,410	$ 2,211	$ 2,145
Weighted-average number of ordinary shares outstanding - diluted (shares)	404	420.8	436.9
Less: dilutive effect of equity-based compensation (shares)	1.8	1.8	2.6
Weighted-average number of ordinary shares outstanding - basic (shares)	402.2	419	434.3
Net income per share attributable to Eaton ordinary shareholders - diluted (USD per share)	$ 3.49	$ 5.25	$ 4.91
Net income per share attributable to Eaton ordinary shareholders - basic (USD per share)	$ 3.51	$ 5.28	$ 4.93

EQUITY-BASED COMPENSATION - Nar

EQUITY-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (USD per share)	$ 120.14
Total compensation expense not yet recognized of stock options	$ 10
RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense not yet recognized of equity instrument other than options	$ 73
Period for recognition of total compensation expense not yet recognized	2 years 1 month 6 days
Excess tax benefit for equity-based compensation	$ 2	$ 3	$ 3
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	10 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Total compensation expense not yet recognized of equity instrument other than options	$ 31
Period for recognition of total compensation expense not yet recognized	1 year 8 months 12 days
Excess tax benefit for equity-based compensation	$ 3	$ 1	$ 0
PSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)	0.00%
PSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)	200.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Period for recognition of total compensation expense not yet recognized	1 year 9 months 18 days
Expiration date after date of grant	10 years

EQUITY-BASED COMPENSATION - Res

EQUITY-BASED COMPENSATION - Restricted Stock Units and Awards Activity (Details) - RSUs and RSAs shares in Millions	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Number of restricted stock units and awards
Non-vested at beginning of period (shares) | shares	1.7
Granted (shares) | shares	0.7
Vested (shares) | shares	(0.8)
Forfeited (shares) | shares	(0.1)
Non-vested at end of period (shares) | shares	1.5
Weighted-average fair value per unit and award
Non-vested at beginning of period (USD per share) | $ / shares	$ 76.79
Granted (USD per share) | $ / shares	97.75
Vested (USD per share) | $ / shares	78.58
Forfeited (USD per share) | $ / shares	85.21
Non-vested at end of period (USD per share) | $ / shares	$ 85.09

EQUITY-BASED COMPENSATION - Inf

EQUITY-BASED COMPENSATION - Information Related to Equity Awards other than Options (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax expense for equity awards	$ 58	$ 57	$ 59
After-tax expense for equity awards	46	45	46
Fair value of vested equity awards	75	103	71
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax expense for equity awards	25	21	28
After-tax expense for equity awards	$ 20	$ 17	$ 22

EQUITY-BASED COMPENSATION - Ass

EQUITY-BASED COMPENSATION - Assumptions of Market-Based Performance Share Units (Details) - PSUs - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	21.00%	21.00%	22.00%
Risk-free interest rate (as a percent)	1.16%	2.42%	2.38%
Weighted-average fair value of PSUs granted (USD per share)	$ 121.01	$ 92.50	$ 100.86

EQUITY-BASED COMPENSATION - R_2

EQUITY-BASED COMPENSATION - Restricted Stock Units (Details) - PSUs - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent payout	178.00%	130.00%	116.00%
Shares vested	400,000	300,000	500,000

EQUITY-BASED COMPENSATION - Mar

EQUITY-BASED COMPENSATION - Market-Based Performance Share Units (Details) - PSUs - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested at beginning of period (shares)	0.6
Granted (shares)	0.2
Adjustment for performance results achieved (shares)	0.2
Vested (shares)	(0.4)
Forfeited (shares)	(0.1)
Non-vested at end of period (shares)	0.5	0.6
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Non-vested at beginning of period (USD per share)	$ 96.14
Granted (USD per share)	121.01	$ 92.50	$ 100.86
Adjustment for performance results achieved (USD per share)	100.86
Vested (USD per share)	100.86
Forfeited (USD per share)	101.56
Non-vested at end of period (USD per share)	$ 105.47	$ 96.14

EQUITY-BASED COMPENSATION - Sto

EQUITY-BASED COMPENSATION - Stock Options Fair Value Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of stock options granted (USD per share)	$ 15.55	$ 14.08	$ 16.93
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	24.00%	23.00%	26.00%
Expected option life in years (in years)	6 years 7 months 6 days	6 years 7 months 6 days	6 years 8 months 12 days
Expected dividend yield (as a percent)	3.20%	3.20%	3.00%
Risk-free interest rate, minimum (as a percent)	0.50%	1.90%	2.60%
Risk-free interest rate, maximum (as a percent)	1.50%	2.60%	2.90%

EQUITY-BASED COMPENSATION - S_2

EQUITY-BASED COMPENSATION - Stock Options Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted-average exercise price per option
Balance at beginning of period (USD per share)	$ 69.95
Granted (USD per share)	98.16
Exercised (USD per share)	63.49
Forfeited and cancelled (USD per share)	83.42
Balance at end of period (USD per share)	76.93	$ 69.95
Exercisable at end of period	$ 70.02
Options
Outstanding at beginning of period (shares)	4.1
Granted (shares)	0.7
Exercised (shares)	(1.1)	(1.2)	(0.6)
Forfeited and cancelled (shares)	(0.1)
Outstanding at end of period (shares)	3.6	4.1
Exercisable at end of period (shares)	2.4
Reserved for future grants at end of period (shares)	24.8
Weighted-average remaining contractual life in years
Outstanding at end of period	6 years 4 months 24 days
Exercisable at end of period	5 years 3 months 18 days
Aggregate intrinsic value
Outstanding at end of period	$ 156.6
Exercisable at end of period	$ 117.9

EQUITY-BASED COMPENSATION - I_2

EQUITY-BASED COMPENSATION - Information Related to Stock Options (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock options exercised	$ 71	$ 66	$ 29
Income tax benefit related to stock options exercised
Tax benefit classified in operating activities in the Consolidated Statements of Cash Flows	10	4	3
Intrinsic value of stock options exercised	50	29	17
Total fair value of stock options vested	$ 9	$ 9	$ 11
Stock options exercised, in millions of options	1.1	1.2	0.6
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax expense for equity awards	$ 9	$ 9	$ 11
After-tax expense for equity awards	7	7	9
Proceeds from stock options exercised	$ 70	$ 67	$ 29

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets Measured on Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Summary of financial instruments recognized at fair value and fair value measurement used
Cash	$ 438	$ 370
Short-term investments	664	221
Net derivative contracts	31	53
Quoted prices in active markets for identical assets (Level 1)
Summary of financial instruments recognized at fair value and fair value measurement used
Cash	438	370
Short-term investments	664	221
Net derivative contracts	0	0
Other observable inputs (Level 2)
Summary of financial instruments recognized at fair value and fair value measurement used
Cash	0	0
Short-term investments	0	0
Net derivative contracts	31	53
Unobservable inputs (Level 3)
Summary of financial instruments recognized at fair value and fair value measurement used
Cash	0	0
Short-term investments	0	0
Net derivative contracts	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Long-term debt and current portion of long term debt, carrying value	$ 8,057	$ 8,067
Long-term debt and current portion of long-term debt, fair value	$ 9,075	$ 8,638

FAIR VALUE MEASUREMENTS - Short

FAIR VALUE MEASUREMENTS - Short-Term Investments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Time deposits and certificates of deposit with banks	$ 168	$ 150
Money market investments	496	71
Total short-term investments	$ 664	$ 221

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Proportion of intercompany balance sheet exposure (as a percent)	100.00%
Cash flow hedge gain (loss) to be reclassified within the next twelve months	$ 4
Non-derivative net investment hedge
Derivative [Line Items]
Foreign currency note payable, noncurrent, after-tax	$ 2,020	$ 1,845

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Fixed-to-Floating Interest Rate Swaps (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
3.47% notes due 2021
Derivative [Line Items]
Notional amount	$ 275
Fixed interest rate (as a percent)	3.47%
Floating interest rate (as a percent)	2.25%
Debt instrument, term (in years)	1 month
3.47% notes due 2021 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	1.74%
8.10% debentures due 2022
Derivative [Line Items]
Notional amount	$ 100
Fixed interest rate (as a percent)	8.10%
Floating interest rate (as a percent)	6.42%
Debt instrument, term (in years)	1 month
8.10% debentures due 2022 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	5.90%
2.75% senior notes due 2022
Derivative [Line Items]
Notional amount	$ 1,400
Fixed interest rate (as a percent)	2.75%
Floating interest rate (as a percent)	1.20%
Debt instrument, term (in years)	1 month
2.75% senior notes due 2022 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.58%
3.68% notes due 2023
Derivative [Line Items]
Notional amount	$ 200
Fixed interest rate (as a percent)	3.68%
Floating interest rate (as a percent)	1.58%
Debt instrument, term (in years)	1 month
3.68% notes due 2023 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	1.07%
7.63% debentures due 2024
Derivative [Line Items]
Notional amount	$ 25
Fixed interest rate (as a percent)	7.63%
Floating interest rate (as a percent)	3.16%
Debt instrument, term (in years)	6 months
7.63% debentures due 2024 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	2.48%
7.65% debentures due 2029
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	7.65%
Floating interest rate (as a percent)	3.03%
Debt instrument, term (in years)	6 months
7.65% debentures due 2029 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	2.57%
5.45% debentures due 2034
Derivative [Line Items]
Notional amount	$ 25
Fixed interest rate (as a percent)	5.45%
Floating interest rate (as a percent)	1.02%
Debt instrument, term (in years)	6 months
5.45% debentures due 2034 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.28%

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Forward Starting Floating-to-Fixed Interest Rate Swaps (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Forward Starting Floating-to-Fixed Interest Rate Swaps #1
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	3.10%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #1 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #2
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	3.06%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #2 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #3
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	2.80%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #3 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #4
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	2.81%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #4 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #5
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	2.64%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #5 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #6
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	2.64%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #6 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #7
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	2.30%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #7 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #8
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	2.08%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #8 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #9
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	1.77%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #9 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #10
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	1.51%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #10 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #11
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	1.50%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #11 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #12
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	1.20%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #12 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #13
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	1.14%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #13 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #14
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	0.81%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #14 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #15
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	1.24%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #15 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #16
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	1.31%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #16 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #17
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	0.71%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #17 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Forward Starting Floating-to-Fixed Interest Rate Swaps #18
Derivative [Line Items]
Notional amount	$ 50
Fixed interest rate (as a percent)	0.78%
Floating interest rate (as a percent)	0.00%
Derivative, term of contract	3 months
Forward Starting Floating-to-Fixed Interest Rate Swaps #18 | LIBOR
Derivative [Line Items]
Basis spread on variable rate (as a percent)	0.00%

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Financial Instrument Recognized in the Consolidated Balance Sheet (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	$ 26	$ 14
Derivative asset not designated as hedging instrument	45	48
Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	123	63
Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	20	11
Derivative liability not designated as hedging instrument	34	13
Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	109	48
Derivatives designated as hedges | Fair Value Hedging | Fixed-to-floating interest rate swaps
Derivatives, Fair Value [Line Items]
Notional amount	2,075	2,225
Derivatives designated as hedges | Fair Value Hedging | Fixed-to-floating interest rate swaps | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	2	0
Derivatives designated as hedges | Fair Value Hedging | Fixed-to-floating interest rate swaps | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	100	57
Derivatives designated as hedges | Fair Value Hedging | Fixed-to-floating interest rate swaps | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	0	0
Derivatives designated as hedges | Fair Value Hedging | Fixed-to-floating interest rate swaps | Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	0	0
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Floating-to-fixed interest rate swaps
Derivatives, Fair Value [Line Items]
Notional amount	900	500
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Floating-to-fixed interest rate swaps | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	0	0
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Floating-to-fixed interest rate swaps | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	17	3
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Floating-to-fixed interest rate swaps | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	0	0
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Floating-to-fixed interest rate swaps | Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	108	42
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional amount	946	1,146
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Currency exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	20	14
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Currency exchange contracts | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	6	3
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Currency exchange contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	20	11
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Currency exchange contracts | Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	1	6
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Commodity contracts
Derivatives, Fair Value [Line Items]
Notional amount	24	9
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Commodity contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	4	0
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Commodity contracts | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	0	0
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Commodity contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	0	0
Derivatives designated as hedges | Derivatives designated as cash flow hedges | Commodity contracts | Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	0	0
Derivatives not designated as hedges | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional amount	5,227	4,975
Derivatives not designated as hedges | Currency exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset not designated as hedging instrument	43	48
Derivatives not designated as hedges | Currency exchange contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability not designated as hedging instrument	34	13
Derivatives not designated as hedges | Commodity contracts
Derivatives, Fair Value [Line Items]
Notional amount	$ 18	$ 3
Derivative, remaining maturity	1 month	1 month
Derivatives not designated as hedges | Commodity contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset not designated as hedging instrument	$ 2	$ 0
Derivatives not designated as hedges | Commodity contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability not designated as hedging instrument	$ 0	$ 0
Minimum | Derivatives designated as hedges | Fair Value Hedging | Fixed-to-floating interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	6 months	12 months
Minimum | Derivatives designated as hedges | Derivatives designated as cash flow hedges | Floating-to-fixed interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	12 years	13 years
Minimum | Derivatives designated as hedges | Derivatives designated as cash flow hedges | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	1 month	1 month
Minimum | Derivatives designated as hedges | Derivatives designated as cash flow hedges | Commodity contracts
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	1 month	1 month
Minimum | Derivatives not designated as hedges | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	1 month	1 month
Maximum | Derivatives designated as hedges | Fair Value Hedging | Fixed-to-floating interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	14 years	15 years
Maximum | Derivatives designated as hedges | Derivatives designated as cash flow hedges | Floating-to-fixed interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	32 years	33 years
Maximum | Derivatives designated as hedges | Derivatives designated as cash flow hedges | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	36 months	36 months
Maximum | Derivatives designated as hedges | Derivatives designated as cash flow hedges | Commodity contracts
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	12 months	9 months
Maximum | Derivatives not designated as hedges | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	12 months	12 months

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Volume of Outstanding Commodity Contracts (Details) - Commodity contracts	12 Months Ended
	Dec. 31, 2020oztlb
Copper
Derivative [Line Items]
Derivative, outstanding commodity contract | lb	7,000,000
Copper | Minimum
Derivative [Line Items]
Derivative, term of contract	1 month
Copper | Maximum
Derivative [Line Items]
Derivative, term of contract	12 months
Gold
Derivative [Line Items]
Derivative, outstanding commodity contract | ozt	1,474
Gold | Minimum
Derivative [Line Items]
Derivative, term of contract	1 month
Gold | Maximum
Derivative [Line Items]
Derivative, term of contract	12 months

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Amounts Recorded on Balance Sheet Related to Fixed-to-Floating Interest Rate Swaps (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Interest Rate Swap
Derivative [Line Items]
Carrying amount of the hedged assets (liabilities)	$ (2,688)	$ (2,838)
Long-term debt
Derivative [Line Items]
Discontinued hedge, cumulative adjustment	37	40
Long-term debt | Interest Rate Swap
Derivative [Line Items]
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged asset (liabilities)	$ (139)	$ (97)

DERIVATIVE FINANCIAL INSTRUME_9

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Impact of Derivative on Consolidated Statement of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Net sales	$ 17,858	$ 21,390	$ 21,609
Cost of products sold	12,408	14,338	$ 14,511
Interest expense - net	149	199
Derivatives designated as cash flow hedges | Net sales | Currency exchange contracts
Derivative [Line Items]
Gain (loss) on hedged item	13	7
Gain (loss) on hedging instrument	(13)	(7)
Derivatives designated as cash flow hedges | Net sales | Commodity contracts
Derivative [Line Items]
Gain (loss) on hedged item	0	0
Gain (loss) on hedging instrument	0	0
Derivatives designated as cash flow hedges | Cost of products sold | Currency exchange contracts
Derivative [Line Items]
Gain (loss) on hedged item	5	(12)
Gain (loss) on hedging instrument	(5)	12
Derivatives designated as cash flow hedges | Cost of products sold | Commodity contracts
Derivative [Line Items]
Gain (loss) on hedged item	(1)	0
Gain (loss) on hedging instrument	1	0
Derivatives designated as cash flow hedges | Interest expense - net | Currency exchange contracts
Derivative [Line Items]
Gain (loss) on hedged item	0	0
Gain (loss) on hedging instrument	0	0
Derivatives designated as cash flow hedges | Interest expense - net | Commodity contracts
Derivative [Line Items]
Gain (loss) on hedged item	0	0
Gain (loss) on hedging instrument	0	0
Fair Value Hedging | Net sales | Interest Rate Swap
Derivative [Line Items]
Gain (loss) on hedged item	0	0
Gain (loss) on hedging instrument	0	0
Fair Value Hedging | Cost of products sold | Interest Rate Swap
Derivative [Line Items]
Gain (loss) on hedged item	0	0
Gain (loss) on hedging instrument	0	0
Fair Value Hedging | Interest expense - net | Interest Rate Swap
Derivative [Line Items]
Gain (loss) on hedged item	(45)	(62)
Gain (loss) on hedging instrument	$ 45	$ 62

DERIVATIVE FINANCIAL INSTRUM_10

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES- Impact of Derivatives Not Designated as Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedges	$ 76	$ 73
Currency exchange contracts | Interest expense - net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedges	72	73
Commodity contracts | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedges	$ 4	$ 0

DERIVATIVE FINANCIAL INSTRUM_11

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest expense - net | Non-derivative designated as net investment hedges
Amounts recognized in accumulated other comprehensive income
Gain (loss) recognized in other comprehensive (loss) income	$ (173)	$ 15
Gain (loss) reclassified in accumulated other comprehensive (loss) income	0	0
Total | Derivatives designated as cash flow hedges
Amounts recognized in accumulated other comprehensive income
Total, gain (loss) on derivative and net investment hedge recognized in other comprehensive (loss) income	(233)	(18)
Total, gain (loss) on derivative and net investment hedge recognized in accumulated other comprehensive (loss) income	(17)	5
Forward Starting Floating-to-Fixed Interest Rate Swap | Interest expense - net | Derivatives designated as cash flow hedges
Amounts recognized in accumulated other comprehensive income
Gain (loss) recognized in other comprehensive (loss) income	(52)	(36)
Gain (loss) reclassified from Accumulated other comprehensive loss	0	0
Currency exchange contracts | Net sales and Cost of products sold | Derivatives designated as cash flow hedges
Amounts recognized in accumulated other comprehensive income
Gain (loss) recognized in other comprehensive (loss) income	(13)	3
Gain (loss) reclassified from Accumulated other comprehensive loss	(18)	5
Commodity contracts | Cost of products sold | Derivatives designated as cash flow hedges
Amounts recognized in accumulated other comprehensive income
Gain (loss) recognized in other comprehensive (loss) income	5	0
Gain (loss) reclassified from Accumulated other comprehensive loss	$ 1	$ 0

RESTRUCTURING CHARGES - Narrati

RESTRUCTURING CHARGES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 214	$ 0	$ 0
Estimated charges	$ 280
Forecast
Restructuring Cost and Reserve [Line Items]
Estimated charges				$ 5	$ 61

RESTRUCTURING CHARGES - Restruc

RESTRUCTURING CHARGES - Restructuring Program Charges (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Total before income taxes	$ 214	$ 0	$ 0
Income tax benefit	44
Total after income taxes	$ 170
Per ordinary share - diluted (USD per share)	$ 0.42
Workforce reductions
Restructuring Cost and Reserve [Line Items]
Total before income taxes	$ 172
Plant closing and other
Restructuring Cost and Reserve [Line Items]
Total before income taxes	$ 42

RESTRUCTURING CHARGES - Restr_2

RESTRUCTURING CHARGES - Restructuring Program Charges related to Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 214	$ 0	$ 0
Operating segments | Electrical Americas
Restructuring Cost and Reserve [Line Items]
Restructuring charges	18
Operating segments | Electrical Global
Restructuring Cost and Reserve [Line Items]
Restructuring charges	55
Operating segments | Aerospace
Restructuring Cost and Reserve [Line Items]
Restructuring charges	34
Operating segments | Vehicle
Restructuring Cost and Reserve [Line Items]
Restructuring charges	102
Operating segments | eMobility
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 4

RESTRUCTURING CHARGES - Liabili

RESTRUCTURING CHARGES - Liabilities Related to Restructuring (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Reserve [Roll Forward]
Balance at January 1, 2020	$ 0
Liability recognized	214	$ 0	$ 0
Payments, utilization and translation	(72)
Balance at December 31, 2020	142	0
Workforce reductions
Restructuring Reserve [Roll Forward]
Balance at January 1, 2020	0
Liability recognized	172
Payments, utilization and translation	(33)
Balance at December 31, 2020	139	0
Plant closing and other
Restructuring Reserve [Roll Forward]
Balance at January 1, 2020	0
Liability recognized	42
Payments, utilization and translation	(39)
Balance at December 31, 2020	$ 3	$ 0

BUSINESS SEGMENT AND GEOGRAPH_3

BUSINESS SEGMENT AND GEOGRAPHIC REGION INFORMATION - Business Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Segment Information
Net sales	$ 17,858	$ 21,390	$ 21,609
Amortization of intangible assets	(342)
Interest expense - net	(149)	(199)	(258)
Pension and other postretirement benefits expense	(210)	(157)	(159)
Restructuring charges	(214)	0	0
Arbitration decision expense	0	0	(275)
Income before income taxes	1,746	2,591	2,424
Income tax expense	331	378	278
Net income	1,415	2,213	2,146
Less net income for noncontrolling interests	(5)	(2)	(1)
Net income attributable to Eaton ordinary shareholders	1,410	2,211	2,145
Electrical Americas
Business Segment Information
Net sales	6,680	8,175	7,914
Electrical Global
Business Segment Information
Net sales	4,703	5,172	5,159
Hydraulics
Business Segment Information
Net sales	1,842	2,204	2,392
Aerospace
Business Segment Information
Net sales	2,223	2,480	2,335
Vehicle
Business Segment Information
Net sales	2,118	3,038	3,489
eMobility
Business Segment Information
Net sales	292	321	320
Operating segments
Business Segment Information
Net sales	17,858	21,390	21,609
Segment operating profit (loss)	2,937	3,711	3,630
Operating segments | Electrical Americas
Business Segment Information
Net sales	6,680	8,175	7,914
Segment operating profit (loss)	1,352	1,549	1,372
Restructuring charges	(18)
Operating segments | Electrical Global
Business Segment Information
Net sales	4,703	5,172	5,159
Segment operating profit (loss)	750	897	833
Restructuring charges	(55)
Operating segments | Hydraulics
Business Segment Information
Net sales	1,842	2,204	2,392
Segment operating profit (loss)	186	193	267
Operating segments | Aerospace
Business Segment Information
Net sales	2,223	2,480	2,335
Segment operating profit (loss)	414	595	503
Restructuring charges	(34)
Operating segments | Vehicle
Business Segment Information
Net sales	2,118	3,038	3,489
Segment operating profit (loss)	243	460	611
Restructuring charges	(102)
Operating segments | eMobility
Business Segment Information
Net sales	292	321	320
Segment operating profit (loss)	(8)	17	44
Restructuring charges	(1)
Corporate
Business Segment Information
Amortization of intangible assets	(354)	(367)	(382)
Interest expense - net	(149)	(199)	(258)
Pension and other postretirement benefits expense	(40)	(12)	(1)
Restructuring charges	(4)
Arbitration decision expense	0	0	(275)
Other expense - net	$ (434)	$ (542)	$ (290)

BUSINESS SEGMENT AND GEOGRAPH_4

BUSINESS SEGMENT AND GEOGRAPHIC REGION INFORMATION - Identifiable Assets, Capital Expenditures for PPE, and Depreciation of PPE by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 01, 2020
Segment Reporting Information [Line Items]
Total assets	$ 31,824	$ 32,805	$ 31,092
Goodwill	12,903	13,456	13,328
Other intangible assets	4,175	4,638	4,846
Assets held for sale	2,487	1,377
Capital expenditures for property, plant and equipment	389	587	565
Depreciation of property, plant and equipment	408	465	473
Operating segments
Segment Reporting Information [Line Items]
Total assets	8,160	9,820	9,530
Capital expenditures for property, plant and equipment	367	542	527
Depreciation of property, plant and equipment	352	413	420
Corporate
Segment Reporting Information [Line Items]
Total assets	4,099	3,514	3,388
Assets held for sale	2,487	1,377	0
Capital expenditures for property, plant and equipment	22	45	38
Depreciation of property, plant and equipment	56	52	53
Electrical Americas
Segment Reporting Information [Line Items]
Goodwill	6,456	6,352	6,819	$ 6,400
Electrical Americas | Operating segments
Segment Reporting Information [Line Items]
Total assets	2,333	2,360	2,529
Capital expenditures for property, plant and equipment	95	160	139
Depreciation of property, plant and equipment	101	118	121
Electrical Global
Segment Reporting Information [Line Items]
Goodwill	4,295	4,106	3,942	$ 4,000
Electrical Global | Operating segments
Segment Reporting Information [Line Items]
Total assets	2,334	2,319	2,121
Capital expenditures for property, plant and equipment	71	106	95
Depreciation of property, plant and equipment	94	93	98
Hydraulics
Segment Reporting Information [Line Items]
Goodwill	0	921	931
Hydraulics | Operating segments
Segment Reporting Information [Line Items]
Total assets	0	1,293	1,334
Capital expenditures for property, plant and equipment	41	80	98
Depreciation of property, plant and equipment	0	58	56
Aerospace
Segment Reporting Information [Line Items]
Goodwill	1,777	1,706	1,264
Aerospace | Operating segments
Segment Reporting Information [Line Items]
Total assets	1,363	1,562	1,118
Capital expenditures for property, plant and equipment	59	61	48
Depreciation of property, plant and equipment	53	37	36
Vehicle
Segment Reporting Information [Line Items]
Goodwill	293	291	292
Vehicle | Operating segments
Segment Reporting Information [Line Items]
Total assets	1,950	2,145	2,289
Capital expenditures for property, plant and equipment	77	127	143
Depreciation of property, plant and equipment	98	102	104
eMobility
Segment Reporting Information [Line Items]
Goodwill	82	80	80
eMobility | Operating segments
Segment Reporting Information [Line Items]
Total assets	180	141	139
Capital expenditures for property, plant and equipment	24	8	4
Depreciation of property, plant and equipment	$ 6	$ 5	$ 5

BUSINESS SEGMENT AND GEOGRAPH_5

BUSINESS SEGMENT AND GEOGRAPHIC REGION INFORMATION - Geographic Region Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 17,858	$ 21,390	$ 21,609
Long-lived assets	2,964	3,496	3,467
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	10,044	12,336	12,034
Long-lived assets	1,510	1,821	1,898
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	757	941	931
Long-lived assets	25	24	20
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	939	1,312	1,442
Long-lived assets	249	316	286
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	3,818	4,311	4,553
Long-lived assets	738	797	723
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	2,300	2,490	2,649
Long-lived assets	$ 442	$ 538	$ 540