Eaton (ETN) 10-K 23 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($) shares in Millions, $ in Billions	12 Months Ended
	Dec. 31, 2022	Jan. 31, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2022
Entity File Number	000-54863
Entity Registrant Name	EATON CORPORATION plc
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			$ 50.2
Entity Ordinary Shares, Shares Outstanding		398
Documents Incorporated by Reference	Portions of the Proxy Statement for the 2023 annual shareholders meeting are incorporated by reference into Part III.
Entity Central Index Key	0001551182
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Cleveland, Ohio
Auditor Firm ID	42

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net sales	$ 20,752	$ 19,628	$ 17,858
Cost of products sold	13,865	13,293	12,408
Selling and administrative expense	3,227	3,256	3,075
Research and development expense	665	616	551
Interest expense - net	144	144	149
Gain on sale of businesses	24	617	221
Other expense (income) - net	(36)	40	150
Income before income taxes	2,911	2,896	1,746
Income tax expense	445	750	331
Net income	2,465	2,146	1,415
Less net income for noncontrolling interests	(4)	(2)	(5)
Net income attributable to Eaton ordinary shareholders	$ 2,462	$ 2,144	$ 1,410
Net income per share attributable to Eaton ordinary shareholders
Diluted (USD per share)	$ 6.14	$ 5.34	$ 3.49
Basic (USD per share)	$ 6.17	$ 5.38	$ 3.51
Weighted-average number of ordinary shares outstanding
Diluted (shares)	400.8	401.6	404
Basic (shares)	398.7	398.7	402.2
Cash dividends declared per ordinary share (USD per share)	$ 3.24	$ 3.04	$ 2.92

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 2,465	$ 2,146	$ 1,415
Less net income for noncontrolling interests	(4)	(2)	(5)
Net income attributable to Eaton ordinary shareholders	2,462	2,144	1,410
Other comprehensive income (loss), net of tax
Currency translation and related hedging instruments	(647)	30	201
Pensions and other postretirement benefits	175	495	(73)
Cash flow hedges	159	37	(33)
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(313)	562	95
Total comprehensive income attributable to Eaton ordinary shareholders	$ 2,149	$ 2,706	$ 1,505

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash	$ 294	$ 297
Short-term investments	261	271
Accounts receivable - net	4,076	3,297
Inventory	3,430	2,969
Prepaid expenses and other current assets	685	677
Total current assets	8,746	7,511
Property, plant and equipment
Land and buildings	2,129	2,227
Machinery and equipment	5,885	5,591
Gross property, plant and equipment	8,013	7,818
Accumulated depreciation	(4,867)	(4,754)
Net property, plant and equipment	3,146	3,064
Other noncurrent assets
Goodwill	14,796	14,751
Other intangible assets	5,485	5,855
Operating lease assets	570	442
Deferred income taxes	330	392
Other assets	1,940	2,012
Total assets	35,014	34,027
Current liabilities
Short-term debt	324	13
Current portion of long-term debt	10	1,735
Accounts payable	3,072	2,797
Accrued compensation	467	501
Other current liabilities	2,488	2,166
Total current liabilities	6,360	7,212
Noncurrent liabilities
Long-term debt	8,321	6,831
Pension liabilities	649	872
Other postretirement benefits liabilities	177	263
Operating lease liabilities	459	337
Deferred income taxes	530	559
Other noncurrent liabilities	1,444	1,502
Total noncurrent liabilities	11,580	10,364
Shareholders’ equity
Ordinary shares (397.8 million outstanding in 2022 and 398.8 million in 2021)	4	4
Capital in excess of par value	12,512	12,449
Retained earnings	8,468	7,594
Accumulated other comprehensive loss	(3,946)	(3,633)
Shares held in trust	(1)	(1)
Total Eaton shareholders’ equity	17,038	16,413
Noncontrolling interests	38	38
Total equity	17,075	16,451
Total liabilities and equity	$ 35,014	$ 34,027

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares shares in Millions	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Ordinary shares outstanding (shares)	397.8	398.8

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income	$ 2,465	$ 2,146	$ 1,415
Adjustments to reconcile to net cash provided by operating activities
Depreciation and amortization	954	922	811
Deferred income taxes	(128)	(111)	(86)
Pension and other postretirement benefits expense	54	53	210
Contributions to pension plans	(116)	(343)	(122)
Contributions to other postretirement benefits plans	(24)	(20)	(23)
Gain on sale of businesses	(24)	(197)	(91)
Changes in working capital
Accounts receivable - net	(743)	(271)	219
Inventory	(490)	(629)	371
Accounts payable	334	832	76
Accrued compensation	(16)	154	(65)
Accrued income and other taxes	170	(317)	(95)
Other current assets	(179)	(116)	(67)
Other current liabilities	236	38	196
Other - net	40	22	195
Net cash provided by operating activities	2,533	2,163	2,944
Investing activities
Capital expenditures for property, plant and equipment	(598)	(575)	(389)
Cash paid for acquisitions of businesses, net of cash acquired	(610)	(4,500)	(200)
Proceeds from sales of businesses, net of cash sold	31	3,129	1,408
Proceeds from sales of property, plant and equipment	163	44	12
Investments in associate companies	(42)	(124)	(19)
Sales (purchases) of short-term investments - net	(19)	379	(441)
Proceeds from (payments for) settlement of currency exchange contracts not designated as hedges - net	(47)	(27)	94
Other - net	(79)	(90)	(68)
Net cash provided by (used in) investing activities	(1,200)	(1,764)	397
Financing activities
Proceeds from borrowings	1,995	1,798	0
Payments on borrowings	(2,012)	(1,013)	(249)
Short-term debt, net	317	20	(254)
Cash dividends paid	(1,299)	(1,219)	(1,175)
Exercise of employee stock options	28	63	71
Repurchase of shares	(286)	(122)	(1,608)
Employee taxes paid from shares withheld	(60)	(47)	(37)
Other - net	(23)	(15)	(6)
Net cash used in financing activities	(1,340)	(535)	(3,258)
Effect of currency on cash	4	(5)	(15)
Total increase (decrease) in cash	(3)	(141)	68
Cash at the beginning of the period	297	438	370
Cash at the end of the period	$ 294	$ 297	$ 438

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Total Eaton shareholders' equity	Ordinary shares	Capital in excess of par value	Retained earnings	Accumulated other comprehensive loss	Shares held in trust	Noncontrolling interests
Balance at beginning of period (shares) at Dec. 31, 2019			413.3
Balance at beginning 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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,146	2,144			2,144			2
Other comprehensive income (loss), net of tax	562	562				562
Cash dividends paid	(1,220)	(1,219)			(1,219)			(1)
Issuance of shares under equity-based compensation plans (shares)			1.6
Issuance of shares under equity-based compensation plans	118	118		120	(3)		1
Changes in noncontrolling interest of consolidated subsidiaries - net	(6)							(6)
Repurchase of shares (shares)			(0.9)
Repurchase of shares	(122)	(122)			(122)
Balance at end of period (shares) at Dec. 31, 2021			398.8
Balance at end of period at Dec. 31, 2021	16,451	16,413	$ 4	12,449	7,594	(3,633)	(1)	38
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,465	2,462			2,462			4
Other comprehensive income (loss), net of tax	(313)	(313)				(313)
Cash dividends paid	(1,301)	(1,299)			(1,299)			(2)
Issuance of shares under equity-based compensation plans (shares)			1.1
Issuance of shares under equity-based compensation plans	63	63		65	(2)
Changes in noncontrolling interest of consolidated subsidiaries - net	(3)	(1)		(1)				(2)
Repurchase of shares (shares)			(2)
Repurchase of shares	(286)	(286)			(286)
Balance at end of period (shares) at Dec. 31, 2022			397.8
Balance at end of period at Dec. 31, 2022	$ 17,075	$ 17,038	$ 4	$ 12,512	$ 8,468	$ (3,946)	$ (1)	$ 38

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
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 an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power – today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we're accelerating the planet's transition to renewable energy, helping to solve the world's most urgent power management challenges, and doing what's best for our stakeholders and all of society. Founded in 1911, 2023 marks Eaton's 100 th anniversary of being listed on the New York Stock Exchange. We reported revenues of $20.8 billion in 2022 and serve customers in more than 170 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 $788 million and $777 million as of December 31, 2022 and December 31, 2021, respectively, and income from these investments is reported in Other expense (income) - net. Eaton does not have off-balance sheet arrangements with unconsolidated entities. Eaton's reporting currency is United States Dollars (USD). The functional currency for most subsidiaries is their local currency. Financial statements for these subsidiaries are translated at exchange rates in effect at the balance sheet date 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. For subsidiaries operating in highly inflationary economies, non-monetary assets and liabilities such as inventory and property, plant and equipment and their related expenses are remeasured at historical exchange rates, while monetary assets and liabilities are remeasured at exchange rates in effect at the balance sheet date. Remeasurement adjustments for these subsidiaries are recognized in income. Certain prior year amounts have been reclassified to conform to the current year presentation. LIBOR Transition In July 2017, the United Kingdom’s Financial Conduct Authority, which regulates the London Interbank Offered Rate (LIBOR), announced it intends to phase out LIBOR. The final publication of rates for certain USD LIBOR tenors is expected to be on June 30, 2023. Various parties, including government agencies, are seeking to identify alternative rates to replace LIBOR. The Company’s new revolving credit facilities discussed in Note 8 do not reference LIBOR and all interest rate swaps that referenced LIBOR have been settled. Based on the Company's evaluation, the impacts of the transition from LIBOR to alternative rates in its contracts will not have a material impact on the consolidated financial statements. Goodwill and Indefinite Life Intangible Assets Goodwill is evaluated annually for impairment as of July 1 using either a quantitative or 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. 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. The annual goodwill impairment test was performed using a qualitative analysis in 2022 and 2021, except for the eMobility reporting unit 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. Quantitative analyses were performed by estimating the fair value of the 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 2022 and 2021, 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 2022 and 2021 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 2022 and 2021, 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. The Company uses the following depreciation and amortization periods: Category Estimated useful life or amortization period Buildings Generally 40 years Machinery and equipment 3 - 10 years Software 5 - 15 years Customer relationships, certain trademarks, and patents and technology Weighted-average of 18 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 22 years and 10 years, respectively. The amortization period for other postretirement benefits plans is 8 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, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS AND DIVESTITURES OF BUSINESSES	ACQUISITIONS AND DIVESTITURES OF BUSINESSES 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 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. As a result of the sale, the Company recognized a pre-tax gain of $221 million in 2020. The Lighting business, which had sales of $1.6 billion in 2019 as part of the Electrical Americas business segment, served customers in commercial, industrial, residential, and municipal markets. Acquisition of Tripp Lite On March 17, 2021, Eaton acquired Tripp Lite for $1.65 billion, net of cash received. Tripp Lite is 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. Tripp Lite is reported within the Electrical Americas business segment. The acquisition of Tripp Lite 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 March 2022, opening balance sheet adjustments were made to finalize Eaton's fair value estimates based on the final valuations received, which are summarized in the table below. The measurement period adjustments did not have a material impact to the Consolidated Statements of Income. (In millions) Preliminary Allocation Measurement Period Adjustments Final Allocation Short-term investments $ 5 $ — $ 5 Accounts receivable 94 (1) 93 Inventory 184 (5) 179 Prepaid expenses and other current assets 6 (1) 5 Property, plant and equipment 6 (5) 1 Other intangible assets 630 (26) 604 Other assets — 2 2 Accounts payable (13) — (13) Other current liabilities (32) (2) (34) Other noncurrent liabilities (157) (10) (167) Total identifiable net assets 723 (48) 675 Goodwill 928 48 976 Total consideration, net of cash received $ 1,651 $ — $ 1,651 Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the anticipated synergies of acquiring Tripp Lite. Goodwill recognized as a result of the acquisition is not deductible for tax purposes. The estimated fair values of the customer relationships, trademarks and technology intangible assets of $539 million, $33 million, and $32 million, respectively, were determined using either the relief-from-royalty model or the multi-period excess earnings model, which are 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 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. The estimated useful lives for customer relationships, trademarks and technology intangible assets were 20 years, 15 years, and 5 years, respectively. See Note 6 for additional information about goodwill and other intangible assets. Eaton's 2021 Consolidated Financial Statements include Tripp Lite’s results of operations, including segment operating profit of $139 million on sales of $419 million, from the date of acquisition through December 31, 2021. Acquisition of Green Motion SA On March 22, 2021, Eaton acquired Green Motion SA, a leading designer and manufacturer of electric vehicle charging hardware and related software based in Switzerland. Green Motion SA was acquired for $106 million, including $49 million of cash paid at closing and an initial estimate of $57 million for the fair value of contingent future consideration based on 2023 and 2024 revenue performance. The fair value of contingent consideration liabilities is estimated by discounting contingent payments expected to be made, and may increase or decrease based on changes in revenue estimates and discount rates, with a maximum possible undiscounted value of $111 million. As of December 31, 2022, the fair value of the contingent future payments has been reduced to $44 million based primarily on anticipated reductions in projected 2023 revenue compared to the initial estimates at closing. This reduction is presented in Other expense (income) - net on the Consolidated Statements of Income. Acquisition of a 50% stake in HuanYu High Tech On March 29, 2021, Eaton acquired 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 has production operations in Wenzhou, China. Eaton accounts for this investment on the equity method of accounting and is reported within the Electrical Global business segment. Acquisition of Mission Systems On June 1, 2021, Eaton acquired Mission Systems for $2.8 billion, net of cash received. Mission Systems is a leading manufacturer of air-to-air refueling systems, environmental systems, and actuation primarily for defense markets. Mission Systems is reported within the Aerospace business segment. The acquisition of Mission Systems 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 June 2022, opening balance sheet adjustments were made to finalize Eaton's fair value estimates based on the final valuations received, which are summarized in the table below. The measurement period adjustments did not have a material impact to the Consolidated Statements of Income. (In millions) Preliminary Allocation Measurement Period Adjustments Final Accounts receivable $ 84 $ — $ 84 Inventory 179 (1) 178 Prepaid expenses and other current assets 45 5 50 Property, plant and equipment 86 11 97 Other intangible assets 1,575 (113) 1,462 Other assets 19 (4) 15 Accounts payable (40) — (40) Other current liabilities (159) (43) (202) Other noncurrent liabilities (77) (31) (108) Total identifiable net assets 1,712 (176) 1,536 Goodwill 1,088 176 1,264 Total consideration, net of cash received $ 2,800 $ — $ 2,800 Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the anticipated synergies of acquiring Mission Systems. As a result of the acquisition, goodwill of $572 million recognized in the United States is expected to be deductible for tax purposes. The estimated fair values of the customer relationships, technology, and backlog intangible assets of $764 million, $612 million, and $86 million, respectively, were determined using either the relief-from-royalty model or the multi-period excess earnings model, which are 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 fair value of technology intangibles is also based on the selection of royalty rates used in the valuation model. 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. The estimated useful lives for customer relationships, technology, and backlog intangible assets were 22 years, 21 years, and 2 years, respectively. See Note 6 for additional information about goodwill and other intangible assets. Eaton's 2021 Consolidated Financial Statements include Mission Systems’ results of operations, including segment operating profit of $128 million on sales of $450 million, from the date of acquisition through December 31, 2021. Acquisition of a 50% stake in Jiangsu YiNeng Electric's busway business On June 25, 2021, Eaton acquired a 50 percent stake in Jiangsu YiNeng Electric's busway business, which manufactures and markets busway products in China. Eaton accounts for this investment on the equity method of accounting and is reported within the Electrical Global business segment. Sale of Hydraulics business On August 2, 2021, Eaton completed the sale of the Hydraulics business to Danfoss A/S. As a result of the sale, the Company received $3.1 billion, net of cash sold, and recognized a pre-tax gain of $617 million in 2021. According to the terms of the sale agreement, the Company finalized negotiations of post-closing adjustments with Danfoss A/S during the first quarter of 2022. As a result of these negotiations, the Company recognized an additional pre-tax gain of $24 million and received cash of $22 million from Danfoss A/S to fully settle all post-closing adjustments. The business had sales of $1.3 billion in 2021 through the date of the sale. Acquisition of Royal Power Solutions On January 5, 2022, Eaton acquired Royal Power Solutions for $610 million, net of cash received. Royal Power Solutions is a U.S. based manufacturer of high-precision electrical connectivity components used in electric vehicle, energy management, industrial and mobility markets. Royal Power Solutions is reported within the eMobility business segment. The acquisition of Royal Power Solutions 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 2022, opening balance sheet adjustments were made to finalize Eaton's fair value estimates based on the final valuations received, which are summarized in the table below. The measurement period adjustments did not have a material impact to the Consolidated Statements of Income. (In millions) Preliminary Allocation Measurement Period Adjustments Final Accounts receivable $ 36 $ (1) $ 35 Inventory 43 3 46 Prepaid expenses and other current assets 1 — 1 Property, plant and equipment 25 6 31 Other intangible assets 306 35 341 Other assets 21 (13) 8 Accounts payable (24) (1) (25) Other current liabilities (10) (4) (14) Other noncurrent liabilities (70) 2 (68) Total identifiable net assets 328 27 355 Goodwill 284 (29) 255 Total consideration, net of cash received $ 612 $ (2) $ 610 Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the anticipated synergies of acquiring Royal Power Solutions. Goodwill recognized as a result of the acquisition is not deductible for tax purposes. The estimated fair values of the customer relationships, technology, trademarks, and other intangible assets of $230 million, $90 million, $16 million, and $5 million, respectively, were determined using either the relief-from-royalty model, the multi-period excess earnings model, or the lost income model, which are 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 fair value of technology and trademark intangibles are also based on the selection of royalty rates used in the valuation model. 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. The estimated useful lives for customer relationships, technology, trademarks, and other intangible assets were 17 years, 16 years, 15 years, and 2 years, respectively. See Note 6 for additional information about goodwill and other intangible assets. Eaton's 2022 Consolidated Financial Statements include Royal Power Solutions' results of operations, including segment operating profit of $21 million on sales of $158 million, from the date of acquisition through December 31, 2022. Russia During the second quarter of 2022, in light of the ongoing war with Ukraine, the Company decided to exit its business operations in Russia and recorded charges of $29 million presented in Other expense (income) - net on the Consolidated Statements of Income. The charges consisted primarily of write-downs of accounts receivable, inventory and other assets, and accruals for severance. Acquisition of a 50% stake in Jiangsu Huineng Electric Co., Ltd’s circuit breaker business On July 1, 2022, Eaton acquired a 50 percent stake in Jiangsu Huineng Electric Co., Ltd’s circuit breaker business, which manufactures and markets low-voltage circuit breakers in China. Eaton accounts for this investment on the equity method of accounting and is reported within the Electrical Global business segment.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2022
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. Control is transferred when the customer has the ability to direct the use of and obtain benefits from the goods or services. 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. Accrued rebates of $400 million and $327 million as of December 31, 2022 and 2021, respectively, are generally paid annually and were included in Other current liabilities. 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 phase power quality and connectivity, 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. 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. Many of the products and services in power distribution and power quality services in the Electrical Americas and Electrical Global business segments and contracts to develop new products that are fully funded by customers in the Aerospace business segment 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 were primarily for hydraulic components and systems for industrial and mobile equipment. These sales contracts were primarily based on a customer’s purchase order. In this segment, performance obligations were generally satisfied at a point in time when we ship the product from our facility. 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 mechanical, electrical, and electronic components and systems that improve 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 following table provides disaggregated sales by lines of businesses, geographic destination, market channel or end market, as applicable, for the Company's operating segments: (In millions) 2022 2021 2020 Electrical Americas Products $ 2,732 $ 2,255 $ 2,255 Systems 5,765 4,987 4,425 Total $ 8,497 $ 7,242 $ 6,680 Electrical Global Products $ 3,424 $ 3,283 $ 2,608 Systems 2,424 2,233 2,095 Total $ 5,848 $ 5,516 $ 4,703 Hydraulics United States $ — $ 534 $ 796 Rest of World — 766 1,046 Total $ — $ 1,300 $ 1,842 Aerospace Original Equipment Manufacturers $ 1,209 $ 1,018 $ 986 Aftermarket 977 823 685 Industrial and Other 854 807 552 Total $ 3,039 $ 2,648 $ 2,223 Vehicle Commercial $ 1,736 $ 1,438 $ 1,060 Passenger and Light Duty 1,094 1,141 1,058 Total $ 2,830 $ 2,579 $ 2,118 eMobility $ 538 $ 343 $ 292 Total net sales $ 20,752 $ 19,628 $ 17,858 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 $3,581 million and $2,896 million at December 31, 2022 and December 31, 2021, 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 $233 million and $187 million at December 31, 2022 and December 31, 2021, respectively, and are recorded in Prepaid expenses and other current assets. The increase in unbilled receivables reflects higher revenue recognized from increased business activity in 2022. Changes in the deferred revenue liabilities are as follows: (In millions) Deferred revenue Balance at January 1, 2021 $ 257 Customer deposits and billings 1,267 Revenue recognized in the period (1,192) Deferred revenue from business acquisitions 99 Translation and other (9) Balance at December 31, 2021 $ 422 Customer deposits and billings 1,656 Revenue recognized in the period (1,541) Translation and other (29) Balance at December 31, 2022 $ 508 Deferred revenue liabilities of $489 million and $395 million as of December 31, 2022 and 2021, respectively, were included in Other current liabilities with the remaining balance presented in Other noncurrent liabilities. 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, 2022 was approximately $11.4 billion. At December 31, 2022, approximately 82% of this backlog is targeted for delivery to customers in the next twelve months and the rest thereafter.

CREDIT LOSSES FOR RECEIVABLES

CREDIT LOSSES FOR RECEIVABLES	12 Months Ended
	Dec. 31, 2022
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 $31 million and $42 million at December 31, 2022 and 2021. The change in the allowance for credit losses includes expense and net write-offs, none of which are significant.

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2022
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 are as follows: December 31 (In millions) 2022 2021 Raw materials $ 1,275 $ 1,096 Work-in-process 781 620 Finished goods 1,375 1,253 Total inventory $ 3,430 $ 2,969

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2022
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 are as follows: (In millions) January 1, 2021 Additions Translation December 31, 2021 Additions Translation December 31, 2022 Electrical Americas $ 6,456 $ 971 $ (10) $ 7,417 $ 5 $ (19) $ 7,402 Electrical Global 4,295 85 (197) 4,183 2 (255) 3,929 Aerospace 1,777 1,091 (87) 2,781 184 (122) 2,844 Vehicle 293 — (3) 290 — (2) 287 eMobility 82 — (2) 80 255 (1) 334 Total $ 12,903 $ 2,147 $ (299) $ 14,751 $ 445 $ (400) $ 14,796 The 2022 additions to goodwill relate primarily to the anticipated synergies of acquiring Royal Power Solutions and Mission Systems. The 2021 additions to goodwill relate to the anticipated synergies of acquiring Mission Systems, Tripp Lite, and Green Motion SA. A summary of other intangible assets is as follows: December 31 2022 2021 (In millions) Historical Accumulated Historical Accumulated Intangible assets not subject to amortization Trademarks $ 1,201 $ 1,374 Intangible assets subject to amortization Customer relationships $ 4,677 $ 2,156 $ 4,752 $ 1,974 Patents and technology 1,987 830 1,879 712 Trademarks 1,113 570 951 518 Other 175 111 165 62 Total intangible assets subject to amortization $ 7,952 $ 3,667 $ 7,747 $ 3,266 Amortization expense related to intangible assets subject to amortization in 2022, and estimated amortization expense for each of the next five years, is as follows: (In millions) 2022 $ 483 2023 430 2024 403 2025 398 2026 382 2027 373

LEASES

LEASES	12 Months Ended
	Dec. 31, 2022
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 are as follows: (In millions) 2022 2021 2020 Operating lease cost $ 179 $ 164 $ 184 Finance lease cost: Amortization of lease assets 11 12 6 Interest on lease liabilities 1 2 1 Short-term lease cost 17 15 18 Variable lease cost 27 16 3 Sublease income (1) (2) (2) Total lease cost $ 234 $ 207 $ 210 During 2022, Eaton entered into sale leaseback transactions primarily for certain office and distribution facilities and recorded gains of $81 million in Other expense (income) - net. The terms of the new operating leases ranged from 15 to 20 years. There were no sale leaseback transactions for the year ended December 31, 2021 and gains recorded on sale leaseback transactions were $9 million for the year ended December 31, 2020. Supplemental cash flow information related to leases is as follows: (In millions) 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - payments on operating leases $ (159) $ (158) $ (144) Operating cash outflows - interest payments on finance leases (2) (2) (1) Financing cash outflows - payments on finance lease obligations (11) (11) (8) Lease assets obtained in exchange for new lease obligations, including leases acquired: Operating leases $ 245 $ 145 $ 144 Finance leases 10 14 16 Supplemental balance sheet information related to leases is as follows: December 31 (In millions) 2022 2021 Operating Leases Operating lease assets $ 570 $ 442 Other current liabilities 127 120 Operating lease liabilities 459 337 Total operating lease liabilities $ 586 $ 457 Finance Leases Land and buildings $ 6 $ 6 Machinery and equipment 40 47 Accumulated depreciation (20) (19) Net property, plant and equipment $ 26 $ 34 Current portion of long-term debt $ 10 $ 15 Long-term debt 18 23 Total finance lease liabilities $ 28 $ 38 December 31 2022 2021 Weighted-average remaining lease term Operating leases 7.6 years 5.4 years Finance leases 4.9 years 5.3 years Weighted-average discount rate Operating leases 3.3 % 2.6 % Finance leases 3.0 % 3.3 % Maturities of lease liabilities at December 31, 2022 are as follows: (In millions) Operating Leases Finance Leases 2023 $ 145 $ 10 2024 118 7 2025 86 4 2026 69 3 2027 54 2 Thereafter 209 4 Total lease payments 681 30 Less imputed interest 95 2 Total present value of lease liabilities $ 586 $ 28
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 are as follows: (In millions) 2022 2021 2020 Operating lease cost $ 179 $ 164 $ 184 Finance lease cost: Amortization of lease assets 11 12 6 Interest on lease liabilities 1 2 1 Short-term lease cost 17 15 18 Variable lease cost 27 16 3 Sublease income (1) (2) (2) Total lease cost $ 234 $ 207 $ 210 During 2022, Eaton entered into sale leaseback transactions primarily for certain office and distribution facilities and recorded gains of $81 million in Other expense (income) - net. The terms of the new operating leases ranged from 15 to 20 years. There were no sale leaseback transactions for the year ended December 31, 2021 and gains recorded on sale leaseback transactions were $9 million for the year ended December 31, 2020. Supplemental cash flow information related to leases is as follows: (In millions) 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - payments on operating leases $ (159) $ (158) $ (144) Operating cash outflows - interest payments on finance leases (2) (2) (1) Financing cash outflows - payments on finance lease obligations (11) (11) (8) Lease assets obtained in exchange for new lease obligations, including leases acquired: Operating leases $ 245 $ 145 $ 144 Finance leases 10 14 16 Supplemental balance sheet information related to leases is as follows: December 31 (In millions) 2022 2021 Operating Leases Operating lease assets $ 570 $ 442 Other current liabilities 127 120 Operating lease liabilities 459 337 Total operating lease liabilities $ 586 $ 457 Finance Leases Land and buildings $ 6 $ 6 Machinery and equipment 40 47 Accumulated depreciation (20) (19) Net property, plant and equipment $ 26 $ 34 Current portion of long-term debt $ 10 $ 15 Long-term debt 18 23 Total finance lease liabilities $ 28 $ 38 December 31 2022 2021 Weighted-average remaining lease term Operating leases 7.6 years 5.4 years Finance leases 4.9 years 5.3 years Weighted-average discount rate Operating leases 3.3 % 2.6 % Finance leases 3.0 % 3.3 % Maturities of lease liabilities at December 31, 2022 are as follows: (In millions) Operating Leases Finance Leases 2023 $ 145 $ 10 2024 118 7 2025 86 4 2026 69 3 2027 54 2 Thereafter 209 4 Total lease payments 681 30 Less imputed interest 95 2 Total present value of lease liabilities $ 586 $ 28

DEBT

DEBT	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
DEBT	DEBT A summary of long-term debt, including the current portion, is as follows: December 31 (In millions) 2022 2021 8.10% debentures due 2022 ($100 converted to floating rate by interest rate swap) $ — $ 100 2.75% senior notes due 2022 ($1,400 converted to floating rate by interest rate swap) — 1,600 3.68% notes due 2023 ($200 converted to floating rate by interest rate swap) — 300 0.75% Euro notes due 2024 587 624 6.50% debentures due 2025 145 145 0.70% Euro notes due 2025 534 567 0.128% Euro notes due 2026 960 1,021 3.10% senior notes due 2027 700 700 7.65% debentures due 2029 ($50 converted to floating rate by interest rate swap) 200 200 0.577% Euro notes due 2030 640 681 4.00% senior notes due 2032 700 700 4.15% sustainability-linked senior notes due 2033 1,300 — 5.45% debentures due 2034 ($25 converted to floating rate by interest rate swap) 137 136 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 4.70% senior notes due 2052 700 — 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 23 87 Total long-term debt 8,331 8,566 Less current portion of long-term debt (10) (1,735) Long-term debt less current portion $ 8,321 $ 6,831 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, 2022, all of these long-term debt instruments, except the 0.75% Euro notes due 2024, the 0.70% Euro notes due 2025, the 0.128% Euro notes due 2026, and the 0.577% Euro notes due 2030, are registered by Eaton Corporation under the Securities Act of 1933, as amended (the Registered Senior Notes). On August 23, 2022, Eaton Corporation issued sustainability-linked senior notes (2022 Sustainability-Linked Notes) and senior notes (2022 Senior Notes, and collectively referred to as the 2022 Notes). The 2022 Sustainability-Linked Notes have a face amount of $1.3 billion, mature in 2033, and pay interest semi-annually at an initial interest rate of 4.15% per annum. Beginning in September 2028, the interest rate payable on the 2022 Sustainability-Linked Notes will be increased by an additional 25 basis points per annum if the Scope 1 and Scope 2 greenhouse gas emissions sustainability performance target is not met. The 2022 Senior Notes have a face amount of $700 million, mature in 2052, and pay interest semi-annually at 4.70% per annum. The issuer received proceeds totaling $1.98 billion from the issuance of the 2022 Notes, net of financing costs and discounts. The 2022 Notes are fully and unconditionally guaranteed on an unsubordinated, unsecured basis by Eaton and certain of its direct and indirect subsidiaries. The 2022 Notes contain customary optional redemption and par call provisions. They also contain a change of control provision which requires the issuer to make an offer to purchase all or any part of the notes at a purchase price of 101% of the principal amount plus accrued and unpaid interest. The capitalized deferred financing fees are amortized in Interest expense - net over the respective terms of the 2022 Notes. The 2022 Notes are subject to customary non-financial covenants. On October 3, 2022, the Company replaced its existing $2,000 million five-year revolving credit facility with a new $2,500 million five-year revolving credit facility that will expire on October 1, 2027. On the same date, the Company replaced its existing $500 million 364-day revolving credit facility with a new $500 million 364-day revolving credit facility that will expire on October 2, 2023. The revolving credit facilities totaling $3,000 million are used to support commercial paper borrowings and are fully and unconditionally guaranteed by Eaton and certain of its direct and indirect subsidiaries on an unsubordinated, unsecured basis. In October 2022, the Company also upsized its commercial paper program to $3,000 million. There were no borrowings outstanding under Eaton’s revolving credit facilities at December 31, 2022. The Company had access to the commercial paper markets through its $3,000 million commercial paper program, of which $300 million was outstanding on December 31, 2022. In addition to the revolving credit facilities, the Company also had available lines of credit of $919 million from various banks primarily for the issuance of letters of credit, of which there was $414 million outstanding at December 31, 2022. Borrowings outside the United States are generally denominated in local currencies. Short-term debt of $324 million at December 31, 2022 included $300 million of short-term commercial paper in the United States, which had a weighted average interest rate of 4.67%, and $24 million of short-term debt outside the United States. 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 are as follows: (In millions) 2023 $ 10 2024 659 2025 682 2026 1,035 2027 702 Interest paid on debt is as follows: (In millions) 2022 $ 250 2021 207 2020 216

RETIREMENT BENEFITS PLANS

RETIREMENT BENEFITS PLANS	12 Months Ended
	Dec. 31, 2022
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 (In millions) 2022 2021 2022 2021 2022 2021 Funded status Fair value of plan assets $ 2,635 $ 3,672 $ 1,486 $ 2,247 $ 16 $ 19 Benefit obligations (2,807) (3,760) (1,813) (2,837) (209) (304) Funded status $ (172) $ (88) $ (327) $ (590) $ (194) $ (285) Amounts recognized in the Consolidated Other assets $ — $ 59 $ 199 $ 179 $ — $ — Other current liabilities (19) (16) (30) (28) (17) (22) Pension liabilities and Other postretirement benefits liabilities (153) (131) (496) (741) (177) (263) Total $ (172) $ (88) $ (327) $ (590) $ (194) $ (285) Amounts recognized in Accumulated other Net actuarial (gain) loss $ 807 $ 708 $ 491 $ 745 $ (119) $ (55) Prior service cost (credit) 5 5 14 18 (2) — Total $ 811 $ 713 $ 505 $ 763 $ (120) $ (55) Change in Benefit Obligations United States Non-United States Other postretirement (In millions) 2022 2021 2022 2021 2022 2021 Balance at January 1 $ 3,760 $ 4,121 $ 2,837 $ 3,036 $ 304 $ 375 Service cost 27 37 59 72 1 1 Interest cost 117 70 47 40 7 6 Actuarial (gain) loss (713) (82) (817) (143) (73) (59) Gross benefits paid (386) (435) (99) (107) (38) (36) Currency translation — — (218) (79) (3) — Plan amendments 1 1 1 — (2) — Acquisitions and divestitures — 48 — 14 — 2 Other — — 3 4 13 15 Balance at December 31 $ 2,807 $ 3,760 $ 1,813 $ 2,837 $ 209 $ 304 Accumulated benefit obligation $ 2,784 $ 3,707 $ 1,737 $ 2,709 During 2020, the Company announced it was freezing its United States pension plans for its non-union employees. The freeze was effective January 1, 2021 for non-union U.S. employees whose retirement benefit was determined under a cash balance formula and is effective January 1, 2026 for non-union U.S. employees whose retirement benefit is determined under a final average pay formula. Actuarial gains related to changes in the United States and Non-United States benefit obligations in 2022 of $713 million and $817 million, respectively, were primarily due to increases in the discount rates used to measure the obligations. Actuarial gains related to changes in the United States and Non-United States benefit obligations in 2021 of $82 million and $143 million, respectively, were primarily due to increases in the discount rates used to measure the obligations. Change in Plan Assets United States Non-United States Other postretirement (In millions) 2022 2021 2022 2021 2022 2021 Balance at January 1 $ 3,672 $ 3,463 $ 2,247 $ 2,137 $ 19 $ 20 Actual return on plan assets (682) 380 (554) 127 (2) — Employer contributions 30 237 85 106 24 20 Gross benefits paid (386) (435) (99) (107) (38) (36) Currency translation — — (197) (23) — — Acquisitions and divestitures — 27 — 4 — — Other — — 3 3 13 15 Balance at December 31 $ 2,635 $ 3,672 $ 1,486 $ 2,247 $ 16 $ 19 The components of pension plans with an accumulated benefit obligation in excess of plan assets at December 31 are as follows: United States Non-United States (In millions) 2022 2021 2022 2021 Accumulated benefit obligation $ 2,784 $ 131 $ 654 $ 894 Fair value of plan assets 2,635 — 173 207 The components of pension plans with a projected benefit obligation in excess of plan assets at December 31 are as follows: United States Non-United States (In millions) 2022 2021 2022 2021 Projected benefit obligation $ 2,807 $ 147 $ 722 $ 1,290 Fair value of plan assets 2,635 — 195 521 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 are as follows: United States Non-United States Other postretirement (In millions) 2022 2021 2022 2021 2022 2021 Balance at January 1 $ 713 $ 1,051 $ 763 $ 1,026 $ (55) $ (2) Prior service cost arising during the year 1 1 1 — (2) — Net loss (gain) arising during the year 173 (238) (149) (151) (69) (59) Currency translation — — (64) (24) (1) — Other — — — — — — Less amounts included in expense during the year (76) (101) (47) (88) 7 6 Net change for the year 98 (338) (259) (263) (65) (53) Balance at December 31 $ 811 $ 713 $ 505 $ 763 $ (120) $ (55) Benefits Expense United States pension Non-United States pension Other postretirement (In millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Service cost $ 27 $ 37 $ 97 $ 59 $ 72 $ 73 $ 1 $ 1 $ 2 Interest cost 117 70 103 47 40 45 7 6 9 Expected return on plan assets (204) (223) (231) (115) (120) (109) (1) — — Amortization 15 36 102 45 71 60 (7) (5) (13) (46) (80) 71 37 63 69 — 2 (2) Settlements, curtailments and special termination benefits 61 65 62 2 17 10 — (1) — Total expense (income) $ 15 $ (15) $ 133 $ 39 $ 80 $ 79 $ — $ 1 $ (2) Total retirement benefits expense for 2021 of $66 million included $13 million of settlement and curtailment expense related to the sale of the Hydraulics business discussed in Note 2. The components of retirement benefits expense (income) other than service costs are included in Other expense (income) - net. Retirement Benefits Plans Assumptions In 2022, for purposes of determining liabilities related to the majority of its plans in the United States, the Company used the Pri-2012 mortality tables as well as mortality tables that are based on the Company's own experience and generational improvement scales that are based on MP-2021. In 2020 and 2021, the Company used mortality tables that are based on the Company's own experience and generational improvement scales that are based on MP-2020 and MP-2021, 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 2022 2021 2020 2022 2021 2020 Assumptions used to determine benefit obligation at year-end Discount rate 5.47 % 2.81 % 2.48 % 4.83 % 2.01 % 1.59 % Rate of compensation increase 3.33 % 3.12 % 3.12 % 3.12 % 3.01 % 3.02 % Interest rate used to credit cash balance plans 3.67 % 1.99 % 2.02 % 2.32 % 0.56 % 0.53 % Assumptions used to determine expense Discount rate used to determine benefit obligation 4.30 % 2.61 % 3.22 % 2.01 % 1.63 % 2.02 % Discount rate used to determine service cost 4.41 % 2.92 % 3.34 % 2.98 % 2.52 % 2.78 % Discount rate used to determine interest cost 3.94 % 1.83 % 2.75 % 1.84 % 1.36 % 1.82 % Expected long-term return on plan assets 6.50 % 6.75 % 7.25 % 5.70 % 5.62 % 5.84 % Rate of compensation increase 3.12 % 3.12 % 3.14 % 3.01 % 3.02 % 3.05 % Interest rate used to credit cash balance plans 2.62 % 2.14 % 2.59 % 0.56 % 0.52 % 0.54 % 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 2023 are 6.50% and 6.32%, 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 are as follows: Other postretirement 2022 2021 2020 Assumptions used to determine benefit obligation at year-end Discount rate 5.46 % 2.79 % 2.37 % Health care cost trend rate assumed for next year 7.10 % 7.45 % 7.05 % Ultimate health care cost trend rate 4.75 % 4.75 % 4.75 % Year ultimate health care cost trend rate is achieved 2031 2031 2030 Assumptions used to determine expense Discount rate used to determine benefit obligation 2.79 % 2.44 % 3.13 % Discount rate used to determine service cost 3.03 % 2.76 % 3.25 % Discount rate used to determine interest cost 2.24 % 1.70 % 2.67 % Initial health care cost trend rate 7.45 % 7.38 % 6.95 % Ultimate health care cost trend rate 4.75 % 4.75 % 4.75 % Year ultimate health care cost trend rate is achieved 2031 2030 2029 Employer Contributions to Retirement Benefits Plans Contributions to pension plans that Eaton expects to make in 2023, and made in 2022, 2021 and 2020, are as follows: (In millions) Expected in 2023 2022 2021 2020 United States plans $ 23 $ 30 $ 237 $ 18 Non-United States plans 86 85 106 104 Total contributions $ 108 $ 116 $ 343 $ 122 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 (In millions) Gross Medicare prescription 2023 $ 281 $ 101 $ 20 $ — 2024 267 101 18 — 2025 261 101 17 — 2026 253 107 16 — 2027 242 110 19 — 2028 - 2032 1,100 595 84 (1) Pension Plan Assets Investment policies and strategies are developed on a country and plan specific basis. The United States plan, representing 64% of worldwide pension assets, and the United Kingdom plans representing 25% of worldwide pension assets, are invested primarily in debt securities largely for liability hedging, as the majority of the assets are in plans that are well-funded. In general, the plans are primarily allocated to diversified high-quality publicly traded debt, primarily through separately managed accounts and commingled funds in the form of common collective and other trusts. The United States plan's target allocation is 19% United States equities, 13% non-United States equities, 3% public real estate (primarily equity of real estate investment trusts), 54% debt securities and 11% other, including private equity, private debt and cash equivalents. The United Kingdom plans' target asset allocations are 32% equities and the remainder in debt securities, cash equivalents and real estate investments. The equity risk for the plans is managed through broad diversification across industries, geographies, 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, including the use of futures, swaps and options, to achieve more economically desired market 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 are 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, 2022 and 2021, is as follows: (In millions) Total Quoted prices Other Unobservable inputs (Level 3) 1 2022 Common collective trusts Non-United States equity and global equities $ 173 $ — $ 173 $ — United States equity 54 — 54 — Fixed income 620 — 620 — Fixed income securities 744 — 744 — United States treasuries 660 660 — — Real estate 295 76 20 199 Cash equivalents 77 21 56 — Exchange traded funds 77 77 — — Other 387 — 27 360 Common collective and other trusts measured at net asset value 1,100 Money market funds measured at net asset value 3 Pending purchases and sales of plan assets, and interest (69) Total pension plan assets $ 4,121 $ 834 $ 1,694 $ 559 1 These pension plan assets include private equity, private credit and private real estate funds that generally have redemption notice periods of six months or longer and are often not eligible for redemption until the underlying assets are liquidated or distributed. The Company has unfunded commitments to these funds of approximately $180 million at December 31, 2022, which will be satisfied by a reallocation of pension plan assets. (In millions) Total Quoted prices Other Unobservable inputs (Level 3) 1 2021 Common collective trusts Non-United States equity and global equities $ 586 $ — $ 586 $ — United States equity 240 — 240 — Fixed income 624 — 624 — Fixed income securities 1,074 — 1,074 — United States treasuries 417 417 — — Bank loans 117 — 117 — Real estate 471 237 18 216 Equity securities 2 2 — — Cash equivalents 150 28 122 — Exchange traded funds 122 122 — — Other 365 — 46 319 Common collective and other trusts measured at net asset value 1,841 Money market funds measured at net asset value 9 Pending purchases and sales of plan assets, and interest (99) Total pension plan assets $ 5,919 $ 806 $ 2,827 $ 535 1 These pension plan assets include private equity, private credit and private real estate funds that generally have redemption notice periods of six months or longer, and are often not eligible for redemption until the underlying assets are liquidated or distributed. The Company has unfunded commitments to these funds of approximately $192 million at December 31, 2021 , 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 2021 and 2022 due to the following: (In millions) Real estate Other Total Balance at January 1, 2021 $ 184 $ 174 $ 358 Actual return on plan assets: Gains (losses) relating to assets still held at year-end 28 61 89 Purchases, sales, settlements - net 4 79 83 Transfers into or out of Level 3 — 5 5 Balance at December 31, 2021 216 319 535 Actual return on plan assets: Gains (losses) relating to assets still held at year-end 1 (3) (2) Purchases, sales, settlements - net (18) 44 26 Transfers into or out of Level 3 — — — Balance at December 31, 2022 $ 199 $ 360 $ 559 Other Postretirement Benefits Plans A summary of the fair value of other postretirement benefits plan assets at December 31, 2022 and 2021, is as follows: (In millions) Total Quoted prices Other Unobservable 2022 Cash equivalents $ 3 $ 3 $ — $ — Common collective and other trusts measured at net asset value 13 Total other postretirement benefits plan assets $ 16 $ 3 $ — $ — (In millions) Total Quoted prices Other Unobservable 2021 Cash equivalents $ 3 $ 3 $ — $ — Common collective and other trusts measured at net asset value 16 Total other postretirement benefits plan assets $ 19 $ 3 $ — $ — 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, 2022 and 2021. 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. Equity securities - These securities consist of comingled funds and direct investments consisting of the stock of publicly traded companies. Such investments are valued based on the closing price reported in an active market on which the individual securities are traded. 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 - These assets consist of private equity, private debt, insurance contracts primarily for international plans, futures contracts, and over-the-counter options. Investments in private equity and private debt are valued at net asset value or estimated fair value based on quarterly financial information received from the investment advisor, third party appraisal or general partner. These estimates incorporate factors such as contributions and distributions, market transactions, market comparables and performance multiples. Futures contracts and options are valued based on the closing prices of contracts or indices as available using third-party sources. 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 are as follows: (In millions) 2022 $ 182 2021 171 2020 111

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
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 and indemnity claims, tax audits, patent infringement, personal injuries, antitrust matters, and employment-related matters. Eaton is also subject to legal 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. 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 businesses be certified to ISO 14001, an international standard for environmental management systems. The Company routinely reviews EHS performance at each of its manufacturing facilities and continuously strives to improve its environmental footprint, including carbon, waste, water and related operational profiles consistent with our sustainability goals. 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 2022, the Company was involved with a total of 111 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, 2022 and 2021, the Company had an accrual totaling $73 million and $99 million, 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 is as follows: (In millions) 2022 2021 2020 Balance at January 1 $ 125 $ 151 $ 187 Provision 83 65 100 Settled (81) (112) (130) Warranty accruals from business acquisitions and other (2) 21 2 Warranty accruals reclassified to held for sale — — (8) Balance at December 31 $ 125 $ 125 $ 151

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Eaton Corporation plc is domiciled in Ireland. Income (loss) before income taxes and income tax expense (benefit) 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 (In millions) 2022 2021 2020 Ireland $ 198 $ 153 $ (132) Foreign 2,713 2,743 1,878 Total income before income taxes $ 2,911 $ 2,896 $ 1,746 Income tax expense (benefit) (In millions) 2022 2021 2020 Current Ireland $ 3 $ 50 $ 15 Foreign 570 730 441 Total current income tax expense 573 780 456 Deferred Ireland 13 (2) — Foreign (141) (28) (125) Total deferred income tax expense (benefit) (128) (30) (125) Total income tax expense $ 445 $ 750 $ 331 Reconciliations of income taxes from the Ireland national statutory rate of 25% to the consolidated effective income tax rate are as follows: 2022 2021 2020 Income taxes at the applicable statutory rate 25.0 % 25.0 % 25.0 % Ireland operations Ireland tax on trading income (1.3) % (0.7) % (0.2) % Nondeductible interest expense 1.0 % 0.6 % 2.7 % Ireland Other - net (0.5) % (0.2) % 0.4 % Foreign operations Tax impact on sale of businesses — % 9.1 % 3.9 % Earnings taxed at other than the applicable statutory tax rate (10.2) % (8.0) % (14.0) % Other items 1.6 % (0.1) % 1.6 % Worldwide operations Adjustments to tax liabilities (0.4) % 0.2 % (0.6) % Adjustments to valuation allowances 0.1 % — % 0.2 % Effective income tax expense rate 15.3 % 25.9 % 19.0 % During 2022, income tax expense of $445 million was recognized (an effective tax rate of 15.3%) compared to income tax expense of $750 million in 2021 (an effective tax rate of 25.9%) and income tax expense of $331 million in 2020 (an effective tax rate of 19.0%). The decrease in the effective tax rate from 25.9% in 2021 to 15.3% in 2022, and the increase in the effective tax rate from 19.0% in 2020 to 25.9% in 2021, were primarily due to the one-time tax expense on the gain from the sale of the Hydraulics business in 2021 discussed in Note 2. No provision has been made for income taxes on undistributed earnings of foreign subsidiaries of approximately $31.6 billion at December 31, 2022, 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, are as follows: (In millions) 2022 $ 393 2021 753 2020 391 Deferred Income Tax Assets and Liabilities Components of noncurrent deferred income taxes are as follows: December 31 2022 2021 (In millions) Noncurrent assets and liabilities Noncurrent assets and liabilities Accruals and other adjustments Employee benefits $ 266 $ 348 Depreciation and amortization (1,067) (1,087) Other accruals and adjustments 397 385 Ireland income tax loss carryforwards 1 1 Foreign income tax loss carryforwards 4,151 3,127 Foreign income tax credit carryforwards 280 263 Valuation allowance for income tax loss and income tax credit carryforwards (4,184) (3,139) Other valuation allowances (44) (65) Total deferred income taxes $ (200) $ (167) In 2022, the Company recorded an increase of $1.0 billion in its deferred tax assets for foreign income tax loss carryforwards related to tax-deductible statutory adjustments in Luxembourg. The Company also recorded a corresponding increase in its valuation allowance for income tax loss carryforwards, since it does not believe that it is more likely than not that the net operating loss is realizable, resulting in no impact to the Consolidated Statements of Income. At December 31, 2022, 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: (In millions) 2023 2028 2033 2038 Not Ireland income tax loss carryforwards $ — $ — $ — $ — $ 8 $ — Ireland deferred income tax assets for income tax loss — — — — 1 (1) Foreign income tax loss carryforwards 79 7,277 11,478 170 2,372 — Foreign deferred income tax assets for income tax loss carryforwards 20 661 2,867 49 568 (4,034) Foreign deferred income tax assets for income tax loss carryforwards after ASU 2013-11 11 658 2,867 49 566 (4,034) Foreign income tax credit carryforwards 190 67 52 3 31 (149) Foreign income tax credit carryforwards after ASU 2013-11 159 38 49 3 31 (149) 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, carryback capability under the tax law 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 is as follows: (In millions) 2022 2021 2020 Balance at January 1 $ 1,120 $ 1,036 $ 1,001 Increases and decreases as a result of positions taken during prior years Transfers from valuation allowances — 6 — Other increases, including currency translation 36 22 10 Other decreases, including currency translation (16) (10) (10) Increases related to acquired businesses 10 12 7 Increases as a result of positions taken during the current year 97 75 58 Decreases relating to settlements with tax authorities — (11) (26) Decreases as a result of a lapse of the applicable statute of limitations (12) (10) (4) Balance at December 31 $ 1,235 $ 1,120 $ 1,036 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 $833 million. As of December 31, 2022 and 2021, Eaton had accrued approximately $137 million and $128 million, 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 timing of finalizing resolutions of audit disputes through reaching settlement agreements or concluding litigation, or changes in law. Therefore, for the majority of Eaton’s 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. The Company believes that the final resolution of all the assessments discussed below will not have a material impact on its consolidated financial statements. The ultimate outcome of these matters cannot be predicted with certainty given the complex nature of tax controversies. Should the ultimate outcome of any one of these matters deviate from our reasonable expectations, final resolution may have a material adverse impact on the Company’s consolidated financial statements. However, Eaton believes that its interpretations of tax laws and application of tax laws to its facts are correct, and that its accrual of unrecognized income tax benefits is appropriate with respect to these matters. Eaton or its subsidiaries file income tax returns in Ireland and many countries around the world. With only a few exceptions, Eaton and its subsidiaries are no longer subject to examinations for years before 2014. Brazil Tax Years 2005-2012 The Company has two Brazilian tax cases primarily relating to the amortization of certain goodwill generated from the acquisition of third-party businesses and corporate reorganizations. One case involves tax years 2005-2008 (Case 1), and the other involves tax years 2009-2012 (Case 2). Case 2 is proceeding on a more accelerated timeline than Case 1. For Case 2, the Company received a tax assessment in 2014 that included interest and penalties. In November 2019, the Company received an unfavorable result at the final tax administrative appeals level, resulting in an alleged tax deficiency of $27 million plus $102 million of interest and penalties (translated at the December 31, 2022 exchange rate). The Company is challenging this assessment in the judicial system and, on April 18, 2022, received an unfavorable decision at the first judicial level. On April 27, 2022, the Company filed a motion for clarification relating to that decision. On May 20, 2022, the court largely upheld its prior decision without further clarification. On June 9, 2022, the Company filed its notice of appeal to the second level court. The Company intends to continue its challenge of this assessment in the judicial system. As previously disclosed for Case 1, the Company received a separate tax assessment alleging a tax deficiency of $31 million plus $110 million of interest and penalties (translated at the December 31, 2022 exchange rate), which the Company is challenging in the judicial system. This case is still pending resolution at the first judicial level. Both cases are expected to take several years to resolve through the Brazilian judicial system and require provision of certain assets as security for the alleged deficiencies. As of December 31, 2022, the Company pledged Brazilian real estate assets with net book value of $19 million and provided additional security in the form of bank secured bonds and insurance bonds totaling $116 million and a cash deposit of $18 million (translated at the December 31, 2022 exchange rate). United States Tax Disputes The IRS typically audits large corporate taxpayers on a continuous basis, generally resulting in many open tax years if there are disputed tax positions upon completion of the audits. The IRS has completed its examination of the consolidated income tax returns of the Company’s United States subsidiaries (Eaton US) for 2005 through 2016 and the statuses of the various tax years are discussed below. The IRS has challenged certain tax positions of Eaton US, and the Company is attempting to resolve those issues in litigation and the IRS administrative process, as described in more detail below. The IRS is currently examining tax years 2017 through 2019, and the statute of limitations for those years is open until December 31, 2024. Tax years 2020 and later are subject to future examination by the IRS. 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. The Eaton US tax positions challenged by the IRS are items that recur beyond the tax years for which the IRS has proposed adjustments. Eaton believes that its interpretations of tax laws and application of tax laws to its facts are correct. However, if there is a final unfavorable resolution of any of the issues discussed below, it may have a material adverse impact on the Company’s consolidated financial statements. U.S. Tax Years 2005-2006 In 2011, the IRS issued a Statutory Notice of Deficiency for Eaton US for the 2005 and 2006 tax years (the 2005-06 Notice), which Eaton US contested in United States Tax Court. The 2005-06 Notice proposed assessments of $75 million in additional taxes plus $52 million 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 APA pricing methodology for 2011 through the current reporting period. Immediately prior to the 2005-06 Notice being issued, the IRS sent a letter stating that it was retrospectively canceling the APAs. The case in Tax Court involved whether the IRS improperly cancelled the APAs. On July 26, 2017, the 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. On May 24, 2021, the IRS filed a notice to appeal the Tax Court’s ruling to the United States Sixth Circuit Court of Appeals. On August 25, 2022, the Sixth Circuit issued a ruling in favor of Eaton US, confirming that the IRS must abide by the terms of the APAs. The Sixth Circuit’s ruling did not have a material impact on the Company’s consolidated financial statements and resolves U.S. tax years 2005-2006. U.S. Tax Years 2007-2010 In 2014, the IRS issued a Statutory Notice of Deficiency for Eaton US for the 2007 through 2010 tax years (the 2007-10 Notice), which Eaton US contested in Tax Court. The 2007-10 Notice proposed assessments of $190 million in additional taxes plus $72 million in penalties, net of agreed credits and deductions. The proposed assessments pertain to: (i) the same transfer pricing issues and APA for which the Tax Court and Sixth Circuit have issued favorable rulings to Eaton as noted above; and (ii) the separate proposed assessment noted below. The Company believes that the Sixth Circuit Court of Appeals ruling discussed above for tax years 2005-2006 should also resolve the APA cancellation issue for the 2007-2010 years. Eaton and the IRS have recognized that the ruling on the enforceability of the APA 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 2007-10 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 contested 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 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. U.S. Tax Years 2011-2013 In 2018, the IRS completed its examination of Eaton US for tax years 2011 through 2013 and proposed adjustments. Those adjustments were the subject of administrative appeals, which recently concluded without resolution. As a result, on December 21, 2022, the IRS issued Statutory Notices of Deficiency for Eaton US for these tax years (the 2011-2013 Notice) proposing assessments of $749 million in additional taxes plus $110 million in penalties, net of agreed credits and deductions. The proposed assessments pertain to: (i) transfer pricing adjustments similar to those proposed in the 2005-06 and 2007-10 Notices for products manufactured in the Company’s facilities in Puerto Rico and the Dominican Republic and sold to affiliated companies located in the U.S.; (ii) adjustments involving the recognition of income for several of Eaton US’s controlled foreign corporations; (iii) transfer pricing adjustments for products manufactured in one of the Company’s facilities in Mexico and sold to affiliated companies located in the U.S.; and (iv) adjustments challenging the appropriate interest rate on intercompany debt and amount of intercompany fees charged for financial guarantees on external debt. The Company will file its petition to the U.S. Tax Court on or before March 6, 2023, and will vigorously defend its positions through litigation, which will take several years for final resolution. U.S. Tax Years 2014-2016 In 2021, the IRS completed its examination of Eaton US for tax years 2014 through 2016 and has proposed adjustments, including: (i) transfer pricing adjustments similar to those proposed in the 2005-06, 2007-10, and 2011-2013 Notices for products manufactured in the Company’s facilities in Puerto Rico, and the Dominican Republic and sold to affiliated companies located in the U.S.; (ii) transfer pricing adjustments similar to those proposed in the 2011-2013 Notice for products manufactured in one of the Company’s facilities in Mexico and sold to affiliated companies located in the U.S.; and (iii) adjustments similar to those proposed in the 2011-2013 Notice challenging the appropriate interest rate on intercompany debt and amount of intercompany fees charged for financial guarantees on external debt. On November 29, 2021, the case was formally assigned to administrative appeals, and the Company will attempt to resolve certain of the issues in this administrative forum. However, if acceptable resolutions are not achieved, the Company will vigorously defend its positions through litigation, which if undertaken will likely take several years for final resolution. The statute of limitations on these tax years currently remains open until December 31, 2024.

EATON SHAREHOLDERS' EQUITY

EATON SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
EATON SHAREHOLDERS' EQUITY	EATON SHAREHOLDERS' EQUITY There are 750 million Eaton ordinary shares authorized ($0.01 par value per share), 397.8 million and 398.8 million of which were issued and outstanding at December 31, 2022 and 2021, 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, 2022 and 2021, and 10 million serial preferred shares ($0.01 par value per share), none of which is outstanding at December 31, 2022 and 2021. At December 31, 2022, there were 10,034 holders of record of Eaton ordinary shares. Additionally, 14,158 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 share repurchase program for share repurchases up to $5.0 billion of ordinary shares (2019 Program). On February 23, 2022, the Board renewed the 2019 Program by providing authority for up to $5.0 billion in repurchases to be made during the three-year period commencing on that date (2022 Program). Under the 2022 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 2022, 2.0 million ordinary shares were repurchased under the 2022 Program in the open market at a total cost of $286 million. During 2021, 0.9 million ordinary shares were repurchased under the 2019 Program in the open market at a total cost of $122 million. Eaton has deferral plans that permit certain employees and directors to defer a portion of their compensation. A trust contains $3 million and $4 million of ordinary shares and marketable securities at December 31, 2022 and 2021, 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 23, 2023, Eaton's Board of Directors declared a quarterly dividend of $0.86 per ordinary share, a 6% increase over the dividend paid in the fourth quarter of 2022. The dividend is payable on March 24, 2023 to shareholders of record on March 6, 2023. 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): 2022 2021 2020 (In millions) 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 $ (632) $ (647) $ (335) $ (339) $ 154 $ 164 Translation reclassified to earnings — — 369 369 37 37 (632) (647) 34 30 191 201 Pensions and other postretirement benefits Prior service credit (cost) arising during the year — — (1) (1) (1) (1) Net gain (loss) arising during the year 45 31 448 337 (263) (203) Currency translation 65 56 24 19 (48) (37) Other — — — — (2) (1) Amortization of actuarial loss and prior service cost 116 89 183 140 221 169 226 175 654 495 (93) (73) Cash flow hedges Gain (loss) on derivatives designated as cash flow hedges 210 166 50 39 (60) (47) Changes in cash flow hedges reclassified to earnings (9) (7) (3) (2) 17 14 201 159 47 37 (43) (33) Other comprehensive income (loss) attributable to Eaton ordinary shareholders $ (205) $ (313) $ 735 $ 562 $ 55 $ 95 The changes in Accumulated other comprehensive loss are as follows: (In millions) Currency translation and related hedging instruments Pensions and other postretirement benefits Cash flow Total Balance at January 1, 2022 $ (2,617) $ (986) $ (30) $ (3,633) Other comprehensive income (loss) before (647) 86 166 (395) Amounts reclassified from Accumulated other — 89 (7) 82 Net current-period Other comprehensive (647) 175 159 (313) Balance at December 31, 2022 $ (3,264) $ (810) $ 129 $ (3,946) The reclassifications out of Accumulated other comprehensive loss are as follows: (In millions) December 31, 2022 Consolidated Statements of Amortization of defined benefits pensions and other Actuarial loss and prior service cost $ (116) 1 Tax benefit 27 Total, net of tax (89) Gains and (losses) on cash flow hedges Floating-to-fixed interest rate swaps 4 Interest expense - net Currency exchange contracts 9 Net sales and Cost of products sold Commodity contracts (4) Cost of products sold Tax expense (2) Total, net of tax 7 Total reclassifications for the period $ (82) 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 is as follows: (In millions except for per share data) 2022 2021 2020 Net income attributable to Eaton ordinary shareholders $ 2,462 $ 2,144 $ 1,410 Weighted-average number of ordinary shares outstanding - diluted 400.8 401.6 404.0 Less dilutive effect of equity-based compensation 2.1 2.9 1.8 Weighted-average number of ordinary shares outstanding - basic 398.7 398.7 402.2 Net income per share attributable to Eaton ordinary shareholders Diluted $ 6.14 $ 5.34 $ 3.49 Basic 6.17 5.38 3.51 In 2022 and 2020, 0.1 million and 0.6 million of 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. In 2021, all stock options were included in the calculation of diluted net income per share attributable to Eaton ordinary shareholders because they were all dilutive.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
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 2022 is as follows: (Restricted stock units and awards in millions) Number of restricted Weighted-average fair Non-vested at January 1 1.3 $ 104.86 Granted 0.5 150.28 Vested (0.7) 104.35 Forfeited (0.1) 121.36 Non-vested at December 31 1.0 $ 127.33 Information related to RSUs and RSAs is as follows: (In millions) 2022 2021 2020 Pre-tax expense for RSUs and RSAs $ 65 $ 61 $ 58 After-tax expense for RSUs and RSAs 51 48 46 Fair value of vested RSUs and RSAs 98 92 75 As of December 31, 2022, total compensation expense not yet recognized related to non-vested RSUs and RSAs was $78 million, and the weighted-average period in which the expense is expected to be recognized is 2.7 years. Excess tax benefit for RSUs and RSAs totaled $5 million, $5 million and $2 million for 2022, 2021, and 2020, respectively. Performance Share Units Performance share units (PSUs) have been issued to certain employees that vest based on the satisfaction of a three-year service period and total shareholder return relative to that of a group of peers. Awards earned at the end of the three-year vesting period range from 0% to 200% of the targeted number of PSUs granted based on the ranking of total shareholder return of the Company, assuming reinvestment of all dividends, relative to a defined peer group of companies. Equity-based compensation expense for these PSUs is recognized over the period during which an employee is required to provide service in exchange for the award. Upon vesting, dividends that have accumulated during the vesting period are paid on earned awards. 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 is as follows: 2022 2021 2020 Expected volatility 35 % 35 % 21 % Risk-free interest rate 1.71 % 0.20 % 1.16 % Weighted-average fair value of PSUs granted $ 171.63 $ 159.74 $ 121.01 A summary of these PSUs that vested is as follows: (Performance share units in millions) 2022 2021 2020 Percent payout 178 % 189 % 178 % Shares vested 0.4 0.5 0.4 A summary of the 2022 activity for these PSUs is as follows: (Performance share units in millions) Number of performance Weighted-average fair Non-vested at January 1 0.4 $ 139.00 Granted 1 0.2 171.63 Adjusted for performance results achieved 2 0.2 121.01 Vested (0.4) 121.01 Forfeited (0.1) 130.75 Non-vested at December 31 0.3 $ 141.88 1 Performance shares granted assuming the Company will perform at target relative to peers. 2 Adjustments for the number of shares vested under the 2020 awards at the end of the three-year performance period ended December 31, 2022, being higher than the target number of shares. Information related to PSUs is as follows: (In millions) 2022 2021 2020 Pre-tax expense for PSUs $ 21 $ 26 $ 25 After-tax expense for PSUs 17 21 20 As of December 31, 2022, total compensation expense not yet recognized related to non-vested PSUs was $26 million and the weighted-average period in which the expense is to be recognized is 1.7 years. Excess tax benefit for PSUs totaled $10 million, $6 million and $3 million for 2022, 2021, and 2020, respectively. 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-year period following the date of grant and expire 10 years from the date of grant. Compensation expense is recognized for stock options based on the fair value of the options at the date of grant and amortized on a straight-line basis over the period the employee or director is required to provide service. 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 is as follows: 2022 2021 2020 Expected volatility 27 % 28 % 24 % Expected option life in years 6.6 6.5 6.6 Expected dividend yield 2.0 % 3.0 % 3.2 % Risk-free interest rate 0.3 to 3.0% 0.0 to 1.5% 0.5 to 1.5% Weighted-average fair value of stock options granted $ 36.56 $ 26.11 $ 15.55 A summary of stock option activity is as follows: (Options in millions) Weighted-average Options Weighted-average Aggregate Outstanding at January 1, 2022 $ 85.34 3.2 Granted 151.55 0.3 Exercised 78.39 (0.4) Forfeited and canceled 121.79 (0.1) Outstanding at December 31, 2022 $ 91.15 3.0 5.9 $ 197.6 Exercisable at December 31, 2022 $ 79.14 2.3 4.9 $ 177.2 Reserved for future grants at December 31, 2022 21.0 The aggregate intrinsic value in the table above represents the total excess of the $156.95 closing price of Eaton ordinary shares on the last trading day of 2022 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 is as follows: (In millions) 2022 2021 2020 Pre-tax expense for stock options $ 11 $ 14 $ 9 After-tax expense for stock options 9 11 7 Proceeds from stock options exercised 28 63 70 Income tax benefit related to stock options exercised Tax benefit classified in operating activities in the Consolidated 6 13 10 Intrinsic value of stock options exercised 29 69 50 Total fair value of stock options vested $ 11 $ 14 $ 9 Stock options exercised 0.4 0.9 1.1

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2022
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 and contingent consideration recognized at fair value, and the fair value measurements used, is as follows: (In millions) Total Quoted prices Other Unobservable December 31, 2022 Cash $ 294 $ 294 $ — $ — Short-term investments 261 261 — — Net derivative contracts 29 — 29 — Contingent future payments from acquisition of Green Motion (Note 2) (44) — — (44) December 31, 2021 Cash $ 297 $ 297 $ — $ — Short-term investments 271 271 — — Net derivative contracts 41 — 41 — Contingent future payments from acquisition of Green Motion (Note 2) (57) — — (57) 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. Other Fair Value Measurements Long-term debt and the current portion of long-term debt had a carrying value of $8,331 million and fair value of $7,625 million at December 31, 2022 compared to $8,566 million and $9,232 million, respectively, at December 31, 2021. 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. Investments in marketable equity securities are valued at the closing price of the shares. All other short-term investments are at carrying value, which approximates the fair value due to the short-term maturities of these investments. A summary of short-term investments is as follows: December 31 (In millions) 2022 2021 Time deposits and certificates of deposit with banks $ 248 $ 221 Money market investments 13 43 Investments in marketable equity securities — 7 Total short-term investments $ 261 $ 271

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2022
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 as part of a hedging relationship, is effective and 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 $2,711 million and $2,880 million at December 31, 2022 and 2021, respectively. See Note 8 for additional information about debt. Interest Rate Risk Eaton enters 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 enters into forward starting floating-to-fixed interest rate swaps to manage interest rate risk on future anticipated debt issuances. Derivative Financial Statement Impacts The fair value of derivative financial instruments recognized in the Consolidated Balance Sheets is as follows: (In millions) Notional Other Other Other Other Type of Term December 31, 2022 Derivatives designated as hedges Currency exchange contracts $ 1,240 $ 35 $ 2 $ 17 $ 9 Cash flow 1 to 36 months Commodity contracts 64 4 — 2 — Cash flow 1 to 12 months Total $ 39 $ 2 $ 19 $ 9 Derivatives not designated as hedges Currency exchange contracts $ 4,683 $ 30 $ 14 1 to 12 months December 31, 2021 Derivatives designated as hedges Fixed-to-floating interest rate swaps $ 1,800 $ 22 $ 29 $ — $ — Fair value 8 months to 13 years Forward starting floating-to-fixed interest rate swaps 1,350 — 38 — 79 Cash flow 11 to 31 years Currency exchange contracts 1,212 17 2 11 3 Cash flow 1 to 36 months Commodity contracts 50 2 — 1 — Cash flow 1 to 12 months Total $ 41 $ 69 $ 12 $ 82 Derivatives not designated as hedges Currency exchange contracts $ 5,285 $ 34 $ 9 1 to 12 months Commodity contracts 62 1 1 1 month Total $ 35 $ 10 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, 2022, the volume of outstanding commodity contracts that were entered into to hedge forecasted transactions: Commodity December 31, 2022 Term Aluminum 4 Millions of pounds 1 to 12 months Copper 10 Millions of pounds 1 to 12 months Gold 1,604 Troy ounces 1 to 12 months Silver 699,932 Troy ounces 1 to 12 months The following amounts were recorded on the Consolidated Balance Sheets related to fixed-to-floating interest rate swaps: (In millions) 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, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Long-term debt $ (713) $ (2,413) $ (48) $ (84) (a) At December 31, 2022 and 2021, these amounts include the cumulative liability amount of fair value hedging adjustments remaining for which the hedge accounting has been discontinued of $48 million and $33 million, respectively. The impact of hedging activities to the Consolidated Statements of Income is as follows: 2022 (In millions) Net sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 20,752 $ 13,865 $ 144 Gain (loss) on derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Hedged item $ — $ — $ (4) Derivative designated as hedging instrument — — 4 Currency exchange contracts Hedged item $ 17 $ (26) $ — Derivative designated as hedging instrument (17) 26 — Commodity contracts Hedged item $ — $ 4 $ — Derivative designated as hedging instrument — (4) — Gain (loss) on derivatives designated as fair value hedges Fixed-to-floating interest rate swaps Hedged item $ — $ — $ 8 Derivative designated as hedging instrument — — (8) 2021 (In millions) Net sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 19,628 $ 13,293 $ 144 Gain (loss) on derivatives designated as cash flow hedges Currency exchange contracts Hedged item $ 6 $ — $ — Derivative designated as hedging instrument (6) — — Commodity contracts Hedged item $ — $ (9) $ — Derivative designated as hedging instrument — 9 — Gain (loss) on derivatives designated as fair value hedges Fixed-to-floating interest rate swaps Hedged item $ — $ — $ 51 Derivative designated as hedging instrument — — (51) 2020 (In millions) 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 The impact of derivatives not designated as hedges to the Consolidated Statements of Income is as follows: Gain (loss) recognized in Consolidated Statements of Income Consolidated Statements of Income classification (In millions) 2022 2021 2020 Gain (loss) on derivatives not designated as hedges Currency exchange contracts $ (56) $ — $ 72 Interest expense - net Commodity contracts (15) 11 4 Other expense (income) - net and Cost of products sold (a) Total $ (71) $ 11 $ 76 (a) In 2022, Eaton changed the presentation of gains and losses associated with derivative contracts for commodities that are not designated as hedges from Cost of product sold to Other expense (income) - net on the Consolidated Statements of Income. Prior period amounts have not been reclassified as they are not material. The impact of derivative and non-derivative instruments designated as hedges to the Consolidated Statements of Income and Comprehensive Income is as follows: Gain (loss) recognized in (In millions) 2022 2021 2020 Derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps $ 202 $ 50 $ (52) Currency exchange contracts 13 (6) (13) Commodity contracts (5) 6 5 Non-derivative designated as net Foreign currency denominated debt 171 240 (173) Total $ 381 $ 290 $ (233) Location of gain (loss) Gain (loss) reclassified (In millions) 2022 2021 2020 Derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Interest expense - net $ 4 $ — $ — Currency exchange contracts Net sales and Cost of products sold 9 (6) (18) Commodity contracts Cost of products sold (4) 9 1 Non-derivative designated as net Foreign currency denominated debt Interest expense - net — — — Total $ 9 $ 3 $ (17) At December 31, 2022, a gain of $19 million 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, 2022
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 brought on by the COVID-19 pandemic. Since the inception of the program, the Company has incurred charges of $325 million. These restructuring activities are expected to be completed in 2023 with total estimated charges of $350 million cumulatively for the entire program. The remaining charges in 2023 are expected to relate primarily to plant closing and other costs. A summary of restructuring program charges (income) is as follows: (In millions except per share data) 2022 2021 2020 Workforce reductions $ (13) $ 21 $ 172 Plant closing and other 47 57 42 Total before income taxes 1 33 78 214 Income tax benefit 4 18 44 Total after income taxes $ 29 $ 60 $ 170 Per ordinary share - diluted $ 0.07 $ 0.15 $ 0.42 Restructuring program charges (income) related to the following segments: (In millions) 2022 2021 2020 Electrical Americas $ 17 $ 14 $ 18 Electrical Global 14 18 55 Aerospace 8 8 34 Vehicle (15) 21 102 eMobility 1 1 1 Corporate 8 16 4 Total 1 $ 33 $ 78 $ 214 A summary of liabilities related to workforce reductions, plant closing and other associated costs is as follows: (In millions) 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 Liability recognized 21 57 78 Payments, utilization and translation (64) (52) (116) Balance at December 31, 2021 $ 96 $ 8 $ 104 Liability recognized, net 1 (13) 47 33 Payments, utilization and translation (45) (51) (96) Balance at December 31, 2022 $ 38 $ 4 $ 41 1 The restructuring program liability was adjusted by $30 million in the fourth quarter of 2022 related to true-ups for completed workforce reductions and the decision not to close a facility in the Vehicle segment that was previously included in the program. These restructuring program charges (income) were included in Cost of products sold, Selling and administrative expense, Research and development expense, or Other expense (income) - 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, 2022
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 phase power quality and connectivity, 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 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 On August 2, 2021, Eaton completed the sale of the Hydraulics business to Danfoss A/S. The Hydraulics business sold hydraulics components, systems and services for industrial and mobile equipment. The Hydraulics business offered 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. Historically, the principal markets for the Hydraulics business included 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 were located globally. Products were 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 air-to-air refueling systems, fuel pumps, fuel inerting products, sensors, valves, adapters and regulators; mission systems including oxygen generation system, payload carriages, and thermal management products; 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 and transmission components, clutches, hybrid power systems, superchargers, engine valves and valve actuation systems, 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 mechanical, 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 2022, 2021 or 2020, respectively. The accounting policies of the business segments are generally the same as the policies described in Note 1, except that, as described further in the following paragraph, certain items are not allocated to the businesses. 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. Corporate includes all the Company's amortization of intangible assets, interest expense-net and restructuring program costs (Note 16) and the non-service cost portion of pensions and other postretirement benefits expense. Other expense - net includes all the Company's costs associated with acquisitions, divestitures, and gains and losses on the sale of certain businesses and other items that are of a corporate or functional governance nature. For purposes of business segment performance measurement, a portion of corporate costs, excluding amortization of intangibles assets, acquisition integration and divestiture costs, and restructuring program charges, are allocated to the businesses. These allocations are periodically adjusted to pass on year-over-year cost savings or increases to the businesses in a manner that is consistent with how the chief operating decision maker assesses performance. 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 (In millions) 2022 2021 2020 Net sales Electrical Americas $ 8,497 $ 7,242 $ 6,680 Electrical Global 5,848 5,516 4,703 Hydraulics — 1,300 1,842 Aerospace 3,039 2,648 2,223 Vehicle 2,830 2,579 2,118 eMobility 538 343 292 Total net sales $ 20,752 $ 19,628 $ 17,858 Segment operating profit (loss) Electrical Americas $ 1,913 $ 1,495 $ 1,352 Electrical Global 1,134 1,034 750 Hydraulics — 177 186 Aerospace 705 580 414 Vehicle 453 449 243 eMobility (9) (29) (8) Total segment operating profit 4,196 3,706 2,937 Corporate Intangible asset amortization expense (499) (444) (354) Interest expense - net (144) (144) (149) Pension and other postretirement benefits income (expense) 43 65 (40) Restructuring program charges (33) (78) (214) Other expense - net (653) (209) (434) Income before income taxes 2,911 2,896 1,746 Income tax expense 445 750 331 Net income 2,465 2,146 1,415 Less net income for noncontrolling interests (4) (2) (5) Net income attributable to Eaton ordinary shareholders $ 2,462 $ 2,144 $ 1,410 (In millions) 2022 2021 2020 Identifiable assets Electrical Americas $ 3,655 $ 3,002 $ 2,333 Electrical Global 2,658 2,579 2,334 Aerospace 1,859 1,729 1,363 Vehicle 2,230 1,985 1,950 eMobility 402 220 180 Total identifiable assets 10,804 9,515 8,160 Goodwill 14,796 14,751 12,903 Other intangible assets 5,485 5,855 4,175 Corporate 3,929 3,906 4,099 Assets held for sale — — 2,487 Total assets $ 35,014 $ 34,027 $ 31,824 Capital expenditures for property, plant and equipment Electrical Americas $ 181 $ 180 $ 95 Electrical Global 151 120 71 Hydraulics — 34 41 Aerospace 92 78 59 Vehicle 95 112 77 eMobility 52 27 24 Total 571 551 367 Corporate 28 24 22 Total expenditures for property, plant and equipment $ 598 $ 575 $ 389 Depreciation of property, plant and equipment Electrical Americas $ 101 $ 105 $ 101 Electrical Global 94 97 94 Aerospace 64 69 53 Vehicle 89 95 98 eMobility 16 8 6 Total 364 374 352 Corporate 44 52 56 Total depreciation of property, plant and equipment $ 408 $ 426 $ 408 Geographic Region Information Net sales are measured based on the geographic destination of sales. Long-lived assets consist of property, plant and equipment - net. (In millions) 2022 2021 2020 Net sales United States $ 12,353 $ 10,868 $ 10,044 Canada 754 797 757 Latin America 1,504 1,160 939 Europe 3,957 4,276 3,818 Asia Pacific 2,185 2,527 2,300 Total $ 20,752 $ 19,628 $ 17,858 Long-lived assets United States $ 1,567 $ 1,593 $ 1,510 Canada 25 25 25 Latin America 383 277 249 Europe 711 701 738 Asia Pacific 460 468 442 Total $ 3,146 $ 3,064 $ 2,964

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	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 $788 million and $777 million as of December 31, 2022 and December 31, 2021, respectively, and income from these investments is reported in Other expense (income) - net. Eaton does not have off-balance sheet arrangements with unconsolidated entities.
Foreign Currency Translation	Eaton's reporting currency is United States Dollars (USD). The functional currency for most subsidiaries is their local currency. Financial statements for these subsidiaries are translated at exchange rates in effect at the balance sheet date 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. For subsidiaries operating in highly inflationary economies, non-monetary assets and liabilities such as inventory and property, plant and equipment and their related expenses are remeasured at historical exchange rates, while monetary assets and liabilities are remeasured at exchange rates in effect at the balance sheet date. Remeasurement adjustments for these subsidiaries are recognized in income. Certain prior year amounts have been reclassified to conform to the current year presentation. LIBOR Transition In July 2017, the United Kingdom’s Financial Conduct Authority, which regulates the London Interbank Offered Rate (LIBOR), announced it intends to phase out LIBOR. The final publication of rates for certain USD LIBOR tenors is expected to be on June 30, 2023. Various parties, including government agencies, are seeking to identify alternative rates to replace LIBOR. The Company’s new revolving credit facilities discussed in Note 8 do not reference LIBOR and all interest rate swaps that referenced LIBOR have been settled. Based on the Company's evaluation, the impacts of the transition from LIBOR to alternative rates in its contracts will not have a material impact on the consolidated financial statements.
Adoption of New Accounting Standard
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. 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. 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. The annual goodwill impairment test was performed using a qualitative analysis in 2022 and 2021, except for the eMobility reporting unit 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. Quantitative analyses were performed by estimating the fair value of the 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 2022 and 2021, 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 2022 and 2021 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 2022 and 2021, 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. The Company uses the following depreciation and amortization periods: Category Estimated useful life or amortization period Buildings Generally 40 years Machinery and equipment 3 - 10 years Software 5 - 15 years Customer relationships, certain trademarks, and patents and technology Weighted-average of 18 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 22 years and 10 years, respectively. The amortization period for other postretirement benefits plans is 8 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.
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. Control is transferred when the customer has the ability to direct the use of and obtain benefits from the goods or services. 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. Accrued rebates of $400 million and $327 million as of December 31, 2022 and 2021, respectively, are generally paid annually and were included in Other current liabilities. 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 phase power quality and connectivity, 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. 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. Many of the products and services in power distribution and power quality services in the Electrical Americas and Electrical Global business segments and contracts to develop new products that are fully funded by customers in the Aerospace business segment 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 were primarily for hydraulic components and systems for industrial and mobile equipment. These sales contracts were primarily based on a customer’s purchase order. In this segment, performance obligations were generally satisfied at a point in time when we ship the product from our facility. 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 mechanical, electrical, and electronic components and systems that improve 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.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of Depreciation and Amortization Periods	The Company uses the following depreciation and amortization periods: Category Estimated useful life or amortization period Buildings Generally 40 years Machinery and equipment 3 - 10 years Software 5 - 15 years Customer relationships, certain trademarks, and patents and technology Weighted-average of 18 years

ACQUISITIONS AND DIVESTITURES_2

ACQUISITIONS AND DIVESTITURES OF BUSINESSES (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The measurement period adjustments did not have a material impact to the Consolidated Statements of Income. (In millions) Preliminary Allocation Measurement Period Adjustments Final Allocation Short-term investments $ 5 $ — $ 5 Accounts receivable 94 (1) 93 Inventory 184 (5) 179 Prepaid expenses and other current assets 6 (1) 5 Property, plant and equipment 6 (5) 1 Other intangible assets 630 (26) 604 Other assets — 2 2 Accounts payable (13) — (13) Other current liabilities (32) (2) (34) Other noncurrent liabilities (157) (10) (167) Total identifiable net assets 723 (48) 675 Goodwill 928 48 976 Total consideration, net of cash received $ 1,651 $ — $ 1,651 (In millions) Preliminary Allocation Measurement Period Adjustments Final Accounts receivable $ 84 $ — $ 84 Inventory 179 (1) 178 Prepaid expenses and other current assets 45 5 50 Property, plant and equipment 86 11 97 Other intangible assets 1,575 (113) 1,462 Other assets 19 (4) 15 Accounts payable (40) — (40) Other current liabilities (159) (43) (202) Other noncurrent liabilities (77) (31) (108) Total identifiable net assets 1,712 (176) 1,536 Goodwill 1,088 176 1,264 Total consideration, net of cash received $ 2,800 $ — $ 2,800 (In millions) Preliminary Allocation Measurement Period Adjustments Final Accounts receivable $ 36 $ (1) $ 35 Inventory 43 3 46 Prepaid expenses and other current assets 1 — 1 Property, plant and equipment 25 6 31 Other intangible assets 306 35 341 Other assets 21 (13) 8 Accounts payable (24) (1) (25) Other current liabilities (10) (4) (14) Other noncurrent liabilities (70) 2 (68) Total identifiable net assets 328 27 355 Goodwill 284 (29) 255 Total consideration, net of cash received $ 612 $ (2) $ 610

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Sales	The following table provides disaggregated sales by lines of businesses, geographic destination, market channel or end market, as applicable, for the Company's operating segments: (In millions) 2022 2021 2020 Electrical Americas Products $ 2,732 $ 2,255 $ 2,255 Systems 5,765 4,987 4,425 Total $ 8,497 $ 7,242 $ 6,680 Electrical Global Products $ 3,424 $ 3,283 $ 2,608 Systems 2,424 2,233 2,095 Total $ 5,848 $ 5,516 $ 4,703 Hydraulics United States $ — $ 534 $ 796 Rest of World — 766 1,046 Total $ — $ 1,300 $ 1,842 Aerospace Original Equipment Manufacturers $ 1,209 $ 1,018 $ 986 Aftermarket 977 823 685 Industrial and Other 854 807 552 Total $ 3,039 $ 2,648 $ 2,223 Vehicle Commercial $ 1,736 $ 1,438 $ 1,060 Passenger and Light Duty 1,094 1,141 1,058 Total $ 2,830 $ 2,579 $ 2,118 eMobility $ 538 $ 343 $ 292 Total net sales $ 20,752 $ 19,628 $ 17,858
Schedule of Changes in Deferred Revenue Liabilities	Changes in the deferred revenue liabilities are as follows: (In millions) Deferred revenue Balance at January 1, 2021 $ 257 Customer deposits and billings 1,267 Revenue recognized in the period (1,192) Deferred revenue from business acquisitions 99 Translation and other (9) Balance at December 31, 2021 $ 422 Customer deposits and billings 1,656 Revenue recognized in the period (1,541) Translation and other (29) Balance at December 31, 2022 $ 508

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Components of Inventory	The components of inventory are as follows: December 31 (In millions) 2022 2021 Raw materials $ 1,275 $ 1,096 Work-in-process 781 620 Finished goods 1,375 1,253 Total inventory $ 3,430 $ 2,969

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill by segment are as follows: (In millions) January 1, 2021 Additions Translation December 31, 2021 Additions Translation December 31, 2022 Electrical Americas $ 6,456 $ 971 $ (10) $ 7,417 $ 5 $ (19) $ 7,402 Electrical Global 4,295 85 (197) 4,183 2 (255) 3,929 Aerospace 1,777 1,091 (87) 2,781 184 (122) 2,844 Vehicle 293 — (3) 290 — (2) 287 eMobility 82 — (2) 80 255 (1) 334 Total $ 12,903 $ 2,147 $ (299) $ 14,751 $ 445 $ (400) $ 14,796
Schedule of Other Intangible Assets	A summary of other intangible assets is as follows: December 31 2022 2021 (In millions) Historical Accumulated Historical Accumulated Intangible assets not subject to amortization Trademarks $ 1,201 $ 1,374 Intangible assets subject to amortization Customer relationships $ 4,677 $ 2,156 $ 4,752 $ 1,974 Patents and technology 1,987 830 1,879 712 Trademarks 1,113 570 951 518 Other 175 111 165 62 Total intangible assets subject to amortization $ 7,952 $ 3,667 $ 7,747 $ 3,266
Schedule of Amortization Expense of Intangible Assets	Amortization expense related to intangible assets subject to amortization in 2022, and estimated amortization expense for each of the next five years, is as follows: (In millions) 2022 $ 483 2023 430 2024 403 2025 398 2026 382 2027 373

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense are as follows: (In millions) 2022 2021 2020 Operating lease cost $ 179 $ 164 $ 184 Finance lease cost: Amortization of lease assets 11 12 6 Interest on lease liabilities 1 2 1 Short-term lease cost 17 15 18 Variable lease cost 27 16 3 Sublease income (1) (2) (2) Total lease cost $ 234 $ 207 $ 210 Supplemental cash flow information related to leases is as follows: (In millions) 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - payments on operating leases $ (159) $ (158) $ (144) Operating cash outflows - interest payments on finance leases (2) (2) (1) Financing cash outflows - payments on finance lease obligations (11) (11) (8) Lease assets obtained in exchange for new lease obligations, including leases acquired: Operating leases $ 245 $ 145 $ 144 Finance leases 10 14 16
Schedule of Supplemental Balance Sheet Information related to Leases	Supplemental balance sheet information related to leases is as follows: December 31 (In millions) 2022 2021 Operating Leases Operating lease assets $ 570 $ 442 Other current liabilities 127 120 Operating lease liabilities 459 337 Total operating lease liabilities $ 586 $ 457 Finance Leases Land and buildings $ 6 $ 6 Machinery and equipment 40 47 Accumulated depreciation (20) (19) Net property, plant and equipment $ 26 $ 34 Current portion of long-term debt $ 10 $ 15 Long-term debt 18 23 Total finance lease liabilities $ 28 $ 38 December 31 2022 2021 Weighted-average remaining lease term Operating leases 7.6 years 5.4 years Finance leases 4.9 years 5.3 years Weighted-average discount rate Operating leases 3.3 % 2.6 % Finance leases 3.0 % 3.3 %
Schedule of Maturities of Operating Lease Liabilities	Maturities of lease liabilities at December 31, 2022 are as follows: (In millions) Operating Leases Finance Leases 2023 $ 145 $ 10 2024 118 7 2025 86 4 2026 69 3 2027 54 2 Thereafter 209 4 Total lease payments 681 30 Less imputed interest 95 2 Total present value of lease liabilities $ 586 $ 28
Schedule of Maturities of Finance Lease Liabilities	Maturities of lease liabilities at December 31, 2022 are as follows: (In millions) Operating Leases Finance Leases 2023 $ 145 $ 10 2024 118 7 2025 86 4 2026 69 3 2027 54 2 Thereafter 209 4 Total lease payments 681 30 Less imputed interest 95 2 Total present value of lease liabilities $ 586 $ 28

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt, including Current Portion	A summary of long-term debt, including the current portion, is as follows: December 31 (In millions) 2022 2021 8.10% debentures due 2022 ($100 converted to floating rate by interest rate swap) $ — $ 100 2.75% senior notes due 2022 ($1,400 converted to floating rate by interest rate swap) — 1,600 3.68% notes due 2023 ($200 converted to floating rate by interest rate swap) — 300 0.75% Euro notes due 2024 587 624 6.50% debentures due 2025 145 145 0.70% Euro notes due 2025 534 567 0.128% Euro notes due 2026 960 1,021 3.10% senior notes due 2027 700 700 7.65% debentures due 2029 ($50 converted to floating rate by interest rate swap) 200 200 0.577% Euro notes due 2030 640 681 4.00% senior notes due 2032 700 700 4.15% sustainability-linked senior notes due 2033 1,300 — 5.45% debentures due 2034 ($25 converted to floating rate by interest rate swap) 137 136 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 4.70% senior notes due 2052 700 — 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 23 87 Total long-term debt 8,331 8,566 Less current portion of long-term debt (10) (1,735) Long-term debt less current portion $ 8,321 $ 6,831
Schedule of Maturities of Long-Term Debt	Maturities of long-term debt for each of the next five years are as follows: (In millions) 2023 $ 10 2024 659 2025 682 2026 1,035 2027 702
Schedule of Interest Paid on Debt	Interest paid on debt is as follows: (In millions) 2022 $ 250 2021 207 2020 216

RETIREMENT BENEFITS PLANS (Tabl

RETIREMENT BENEFITS PLANS (Tables)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Schedule of Obligations and Funded Status	Obligations and Funded Status United States Non-United States Other postretirement (In millions) 2022 2021 2022 2021 2022 2021 Funded status Fair value of plan assets $ 2,635 $ 3,672 $ 1,486 $ 2,247 $ 16 $ 19 Benefit obligations (2,807) (3,760) (1,813) (2,837) (209) (304) Funded status $ (172) $ (88) $ (327) $ (590) $ (194) $ (285) Amounts recognized in the Consolidated Other assets $ — $ 59 $ 199 $ 179 $ — $ — Other current liabilities (19) (16) (30) (28) (17) (22) Pension liabilities and Other postretirement benefits liabilities (153) (131) (496) (741) (177) (263) Total $ (172) $ (88) $ (327) $ (590) $ (194) $ (285) Amounts recognized in Accumulated other Net actuarial (gain) loss $ 807 $ 708 $ 491 $ 745 $ (119) $ (55) Prior service cost (credit) 5 5 14 18 (2) — Total $ 811 $ 713 $ 505 $ 763 $ (120) $ (55)
Schedule of Change in Benefit Obligations	Change in Benefit Obligations United States Non-United States Other postretirement (In millions) 2022 2021 2022 2021 2022 2021 Balance at January 1 $ 3,760 $ 4,121 $ 2,837 $ 3,036 $ 304 $ 375 Service cost 27 37 59 72 1 1 Interest cost 117 70 47 40 7 6 Actuarial (gain) loss (713) (82) (817) (143) (73) (59) Gross benefits paid (386) (435) (99) (107) (38) (36) Currency translation — — (218) (79) (3) — Plan amendments 1 1 1 — (2) — Acquisitions and divestitures — 48 — 14 — 2 Other — — 3 4 13 15 Balance at December 31 $ 2,807 $ 3,760 $ 1,813 $ 2,837 $ 209 $ 304 Accumulated benefit obligation $ 2,784 $ 3,707 $ 1,737 $ 2,709
Schedule of Change in Plan Assets	Change in Plan Assets United States Non-United States Other postretirement (In millions) 2022 2021 2022 2021 2022 2021 Balance at January 1 $ 3,672 $ 3,463 $ 2,247 $ 2,137 $ 19 $ 20 Actual return on plan assets (682) 380 (554) 127 (2) — Employer contributions 30 237 85 106 24 20 Gross benefits paid (386) (435) (99) (107) (38) (36) Currency translation — — (197) (23) — — Acquisitions and divestitures — 27 — 4 — — Other — — 3 3 13 15 Balance at December 31 $ 2,635 $ 3,672 $ 1,486 $ 2,247 $ 16 $ 19
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 are as follows: United States Non-United States (In millions) 2022 2021 2022 2021 Accumulated benefit obligation $ 2,784 $ 131 $ 654 $ 894 Fair value of plan assets 2,635 — 173 207
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 are as follows: United States Non-United States (In millions) 2022 2021 2022 2021 Projected benefit obligation $ 2,807 $ 147 $ 722 $ 1,290 Fair value of plan assets 2,635 — 195 521
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 are as follows: United States Non-United States Other postretirement (In millions) 2022 2021 2022 2021 2022 2021 Balance at January 1 $ 713 $ 1,051 $ 763 $ 1,026 $ (55) $ (2) Prior service cost arising during the year 1 1 1 — (2) — Net loss (gain) arising during the year 173 (238) (149) (151) (69) (59) Currency translation — — (64) (24) (1) — Other — — — — — — Less amounts included in expense during the year (76) (101) (47) (88) 7 6 Net change for the year 98 (338) (259) (263) (65) (53) Balance at December 31 $ 811 $ 713 $ 505 $ 763 $ (120) $ (55)
Schedule of Benefits Expense	Benefits Expense United States pension Non-United States pension Other postretirement (In millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Service cost $ 27 $ 37 $ 97 $ 59 $ 72 $ 73 $ 1 $ 1 $ 2 Interest cost 117 70 103 47 40 45 7 6 9 Expected return on plan assets (204) (223) (231) (115) (120) (109) (1) — — Amortization 15 36 102 45 71 60 (7) (5) (13) (46) (80) 71 37 63 69 — 2 (2) Settlements, curtailments and special termination benefits 61 65 62 2 17 10 — (1) — Total expense (income) $ 15 $ (15) $ 133 $ 39 $ 80 $ 79 $ — $ 1 $ (2)
Schedule of Assumptions Used to Determine Pension Plans Expense	Pension Plans United States Non-United States 2022 2021 2020 2022 2021 2020 Assumptions used to determine benefit obligation at year-end Discount rate 5.47 % 2.81 % 2.48 % 4.83 % 2.01 % 1.59 % Rate of compensation increase 3.33 % 3.12 % 3.12 % 3.12 % 3.01 % 3.02 % Interest rate used to credit cash balance plans 3.67 % 1.99 % 2.02 % 2.32 % 0.56 % 0.53 % Assumptions used to determine expense Discount rate used to determine benefit obligation 4.30 % 2.61 % 3.22 % 2.01 % 1.63 % 2.02 % Discount rate used to determine service cost 4.41 % 2.92 % 3.34 % 2.98 % 2.52 % 2.78 % Discount rate used to determine interest cost 3.94 % 1.83 % 2.75 % 1.84 % 1.36 % 1.82 % Expected long-term return on plan assets 6.50 % 6.75 % 7.25 % 5.70 % 5.62 % 5.84 % Rate of compensation increase 3.12 % 3.12 % 3.14 % 3.01 % 3.02 % 3.05 % Interest rate used to credit cash balance plans 2.62 % 2.14 % 2.59 % 0.56 % 0.52 % 0.54 %
Schedule of Assumptions Used to Determine Other Postretirement Benefits Obligations and Expense	Assumptions used to determine other postretirement benefits obligations and expense are as follows: Other postretirement 2022 2021 2020 Assumptions used to determine benefit obligation at year-end Discount rate 5.46 % 2.79 % 2.37 % Health care cost trend rate assumed for next year 7.10 % 7.45 % 7.05 % Ultimate health care cost trend rate 4.75 % 4.75 % 4.75 % Year ultimate health care cost trend rate is achieved 2031 2031 2030 Assumptions used to determine expense Discount rate used to determine benefit obligation 2.79 % 2.44 % 3.13 % Discount rate used to determine service cost 3.03 % 2.76 % 3.25 % Discount rate used to determine interest cost 2.24 % 1.70 % 2.67 % Initial health care cost trend rate 7.45 % 7.38 % 6.95 % Ultimate health care cost trend rate 4.75 % 4.75 % 4.75 % Year ultimate health care cost trend rate is achieved 2031 2030 2029
Schedule of Employer Contributions to Pension Plans	Contributions to pension plans that Eaton expects to make in 2023, and made in 2022, 2021 and 2020, are as follows: (In millions) Expected in 2023 2022 2021 2020 United States plans $ 23 $ 30 $ 237 $ 18 Non-United States plans 86 85 106 104 Total contributions $ 108 $ 116 $ 343 $ 122
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 (In millions) Gross Medicare prescription 2023 $ 281 $ 101 $ 20 $ — 2024 267 101 18 — 2025 261 101 17 — 2026 253 107 16 — 2027 242 110 19 — 2028 - 2032 1,100 595 84 (1)
Schedule of Fair Value of Pension Plan Assets	A summary of the fair value of pension plan assets at December 31, 2022 and 2021, is as follows: (In millions) Total Quoted prices Other Unobservable inputs (Level 3) 1 2022 Common collective trusts Non-United States equity and global equities $ 173 $ — $ 173 $ — United States equity 54 — 54 — Fixed income 620 — 620 — Fixed income securities 744 — 744 — United States treasuries 660 660 — — Real estate 295 76 20 199 Cash equivalents 77 21 56 — Exchange traded funds 77 77 — — Other 387 — 27 360 Common collective and other trusts measured at net asset value 1,100 Money market funds measured at net asset value 3 Pending purchases and sales of plan assets, and interest (69) Total pension plan assets $ 4,121 $ 834 $ 1,694 $ 559 1 These pension plan assets include private equity, private credit and private real estate funds that generally have redemption notice periods of six months or longer and are often not eligible for redemption until the underlying assets are liquidated or distributed. The Company has unfunded commitments to these funds of approximately $180 million at December 31, 2022, which will be satisfied by a reallocation of pension plan assets. (In millions) Total Quoted prices Other Unobservable inputs (Level 3) 1 2021 Common collective trusts Non-United States equity and global equities $ 586 $ — $ 586 $ — United States equity 240 — 240 — Fixed income 624 — 624 — Fixed income securities 1,074 — 1,074 — United States treasuries 417 417 — — Bank loans 117 — 117 — Real estate 471 237 18 216 Equity securities 2 2 — — Cash equivalents 150 28 122 — Exchange traded funds 122 122 — — Other 365 — 46 319 Common collective and other trusts measured at net asset value 1,841 Money market funds measured at net asset value 9 Pending purchases and sales of plan assets, and interest (99) Total pension plan assets $ 5,919 $ 806 $ 2,827 $ 535 1 These pension plan assets include private equity, private credit and private real estate funds that generally have redemption notice periods of six months or longer, and are often not eligible for redemption until the underlying assets are liquidated or distributed. The Company has unfunded commitments to these funds of approximately $192 million at December 31, 2021 , 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 2021 and 2022 due to the following: (In millions) Real estate Other Total Balance at January 1, 2021 $ 184 $ 174 $ 358 Actual return on plan assets: Gains (losses) relating to assets still held at year-end 28 61 89 Purchases, sales, settlements - net 4 79 83 Transfers into or out of Level 3 — 5 5 Balance at December 31, 2021 216 319 535 Actual return on plan assets: Gains (losses) relating to assets still held at year-end 1 (3) (2) Purchases, sales, settlements - net (18) 44 26 Transfers into or out of Level 3 — — — Balance at December 31, 2022 $ 199 $ 360 $ 559
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, 2022 and 2021, is as follows: (In millions) Total Quoted prices Other Unobservable 2022 Cash equivalents $ 3 $ 3 $ — $ — Common collective and other trusts measured at net asset value 13 Total other postretirement benefits plan assets $ 16 $ 3 $ — $ — (In millions) Total Quoted prices Other Unobservable 2021 Cash equivalents $ 3 $ 3 $ — $ — Common collective and other trusts measured at net asset value 16 Total other postretirement benefits plan assets $ 19 $ 3 $ — $ —
Schedule of Employer Contributions to Defined Contribution Benefit Plans, Charged to Expense	The total contributions related to these plans are charged to expense and are as follows: (In millions) 2022 $ 182 2021 171 2020 111

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Current and Long-Term Warranty Accruals	A summary of the current and long-term warranty accruals is as follows: (In millions) 2022 2021 2020 Balance at January 1 $ 125 $ 151 $ 187 Provision 83 65 100 Settled (81) (112) (130) Warranty accruals from business acquisitions and other (2) 21 2 Warranty accruals reclassified to held for sale — — (8) Balance at December 31 $ 125 $ 125 $ 151

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) before Income Taxes	Income (loss) before income taxes and income tax expense (benefit) 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 (In millions) 2022 2021 2020 Ireland $ 198 $ 153 $ (132) Foreign 2,713 2,743 1,878 Total income before income taxes $ 2,911 $ 2,896 $ 1,746
Schedule of Income Tax Expense (Benefit)	Income tax expense (benefit) (In millions) 2022 2021 2020 Current Ireland $ 3 $ 50 $ 15 Foreign 570 730 441 Total current income tax expense 573 780 456 Deferred Ireland 13 (2) — Foreign (141) (28) (125) Total deferred income tax expense (benefit) (128) (30) (125) Total income tax expense $ 445 $ 750 $ 331
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 are as follows: 2022 2021 2020 Income taxes at the applicable statutory rate 25.0 % 25.0 % 25.0 % Ireland operations Ireland tax on trading income (1.3) % (0.7) % (0.2) % Nondeductible interest expense 1.0 % 0.6 % 2.7 % Ireland Other - net (0.5) % (0.2) % 0.4 % Foreign operations Tax impact on sale of businesses — % 9.1 % 3.9 % Earnings taxed at other than the applicable statutory tax rate (10.2) % (8.0) % (14.0) % Other items 1.6 % (0.1) % 1.6 % Worldwide operations Adjustments to tax liabilities (0.4) % 0.2 % (0.6) % Adjustments to valuation allowances 0.1 % — % 0.2 % Effective income tax expense rate 15.3 % 25.9 % 19.0 %
Schedule of Worldwide Income Tax Payments	Worldwide income tax payments, net of tax refunds, are as follows: (In millions) 2022 $ 393 2021 753 2020 391
Schedule of Components of Deferred Income Taxes	Components of noncurrent deferred income taxes are as follows: December 31 2022 2021 (In millions) Noncurrent assets and liabilities Noncurrent assets and liabilities Accruals and other adjustments Employee benefits $ 266 $ 348 Depreciation and amortization (1,067) (1,087) Other accruals and adjustments 397 385 Ireland income tax loss carryforwards 1 1 Foreign income tax loss carryforwards 4,151 3,127 Foreign income tax credit carryforwards 280 263 Valuation allowance for income tax loss and income tax credit carryforwards (4,184) (3,139) Other valuation allowances (44) (65) Total deferred income taxes $ (200) $ (167)
Schedule of Foreign Tax Loss Carryforwards and Income Tax Credit Carryforwards	These carryforwards and their respective expiration dates are summarized below: (In millions) 2023 2028 2033 2038 Not Ireland income tax loss carryforwards $ — $ — $ — $ — $ 8 $ — Ireland deferred income tax assets for income tax loss — — — — 1 (1) Foreign income tax loss carryforwards 79 7,277 11,478 170 2,372 — Foreign deferred income tax assets for income tax loss carryforwards 20 661 2,867 49 568 (4,034) Foreign deferred income tax assets for income tax loss carryforwards after ASU 2013-11 11 658 2,867 49 566 (4,034) Foreign income tax credit carryforwards 190 67 52 3 31 (149) Foreign income tax credit carryforwards after ASU 2013-11 159 38 49 3 31 (149)
Schedule of Gross Unrecognized Income Tax Benefits	A summary of gross unrecognized income tax benefits is as follows: (In millions) 2022 2021 2020 Balance at January 1 $ 1,120 $ 1,036 $ 1,001 Increases and decreases as a result of positions taken during prior years Transfers from valuation allowances — 6 — Other increases, including currency translation 36 22 10 Other decreases, including currency translation (16) (10) (10) Increases related to acquired businesses 10 12 7 Increases as a result of positions taken during the current year 97 75 58 Decreases relating to settlements with tax authorities — (11) (26) Decreases as a result of a lapse of the applicable statute of limitations (12) (10) (4) Balance at December 31 $ 1,235 $ 1,120 $ 1,036

EATON SHAREHOLDERS' EQUITY (Tab

EATON SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2022
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): 2022 2021 2020 (In millions) 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 $ (632) $ (647) $ (335) $ (339) $ 154 $ 164 Translation reclassified to earnings — — 369 369 37 37 (632) (647) 34 30 191 201 Pensions and other postretirement benefits Prior service credit (cost) arising during the year — — (1) (1) (1) (1) Net gain (loss) arising during the year 45 31 448 337 (263) (203) Currency translation 65 56 24 19 (48) (37) Other — — — — (2) (1) Amortization of actuarial loss and prior service cost 116 89 183 140 221 169 226 175 654 495 (93) (73) Cash flow hedges Gain (loss) on derivatives designated as cash flow hedges 210 166 50 39 (60) (47) Changes in cash flow hedges reclassified to earnings (9) (7) (3) (2) 17 14 201 159 47 37 (43) (33) Other comprehensive income (loss) attributable to Eaton ordinary shareholders $ (205) $ (313) $ 735 $ 562 $ 55 $ 95
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The changes in Accumulated other comprehensive loss are as follows: (In millions) Currency translation and related hedging instruments Pensions and other postretirement benefits Cash flow Total Balance at January 1, 2022 $ (2,617) $ (986) $ (30) $ (3,633) Other comprehensive income (loss) before (647) 86 166 (395) Amounts reclassified from Accumulated other — 89 (7) 82 Net current-period Other comprehensive (647) 175 159 (313) Balance at December 31, 2022 $ (3,264) $ (810) $ 129 $ (3,946)
Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The reclassifications out of Accumulated other comprehensive loss are as follows: (In millions) December 31, 2022 Consolidated Statements of Amortization of defined benefits pensions and other Actuarial loss and prior service cost $ (116) 1 Tax benefit 27 Total, net of tax (89) Gains and (losses) on cash flow hedges Floating-to-fixed interest rate swaps 4 Interest expense - net Currency exchange contracts 9 Net sales and Cost of products sold Commodity contracts (4) Cost of products sold Tax expense (2) Total, net of tax 7 Total reclassifications for the period $ (82) 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 is as follows: (In millions except for per share data) 2022 2021 2020 Net income attributable to Eaton ordinary shareholders $ 2,462 $ 2,144 $ 1,410 Weighted-average number of ordinary shares outstanding - diluted 400.8 401.6 404.0 Less dilutive effect of equity-based compensation 2.1 2.9 1.8 Weighted-average number of ordinary shares outstanding - basic 398.7 398.7 402.2 Net income per share attributable to Eaton ordinary shareholders Diluted $ 6.14 $ 5.34 $ 3.49 Basic 6.17 5.38 3.51

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of RSU and RSA activity	A summary of the RSU and RSA activity for 2022 is as follows: (Restricted stock units and awards in millions) Number of restricted Weighted-average fair Non-vested at January 1 1.3 $ 104.86 Granted 0.5 150.28 Vested (0.7) 104.35 Forfeited (0.1) 121.36 Non-vested at December 31 1.0 $ 127.33
Schedule of Information Related to RSUs and RSAs	Information related to RSUs and RSAs is as follows: (In millions) 2022 2021 2020 Pre-tax expense for RSUs and RSAs $ 65 $ 61 $ 58 After-tax expense for RSUs and RSAs 51 48 46 Fair value of vested RSUs and RSAs 98 92 75
Schedule of Assumptions Used in Determining Fair Value of PSUs	A summary of the assumptions used in determining fair value of these PSUs is as follows: 2022 2021 2020 Expected volatility 35 % 35 % 21 % Risk-free interest rate 1.71 % 0.20 % 1.16 % Weighted-average fair value of PSUs granted $ 171.63 $ 159.74 $ 121.01
Schedule of PSU Activity	A summary of these PSUs that vested is as follows: (Performance share units in millions) 2022 2021 2020 Percent payout 178 % 189 % 178 % Shares vested 0.4 0.5 0.4 A summary of the 2022 activity for these PSUs is as follows: (Performance share units in millions) Number of performance Weighted-average fair Non-vested at January 1 0.4 $ 139.00 Granted 1 0.2 171.63 Adjusted for performance results achieved 2 0.2 121.01 Vested (0.4) 121.01 Forfeited (0.1) 130.75 Non-vested at December 31 0.3 $ 141.88 1 Performance shares granted assuming the Company will perform at target relative to peers. 2 Adjustments for the number of shares vested under the 2020 awards at the end of the three-year performance period ended December 31, 2022, being higher than the target number of shares.
Schedule of Information Related to PSUs	Information related to PSUs is as follows: (In millions) 2022 2021 2020 Pre-tax expense for PSUs $ 21 $ 26 $ 25 After-tax expense for PSUs 17 21 20
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 is as follows: 2022 2021 2020 Expected volatility 27 % 28 % 24 % Expected option life in years 6.6 6.5 6.6 Expected dividend yield 2.0 % 3.0 % 3.2 % Risk-free interest rate 0.3 to 3.0% 0.0 to 1.5% 0.5 to 1.5% Weighted-average fair value of stock options granted $ 36.56 $ 26.11 $ 15.55
Schedule of Stock Option Activity	A summary of stock option activity is as follows: (Options in millions) Weighted-average Options Weighted-average Aggregate Outstanding at January 1, 2022 $ 85.34 3.2 Granted 151.55 0.3 Exercised 78.39 (0.4) Forfeited and canceled 121.79 (0.1) Outstanding at December 31, 2022 $ 91.15 3.0 5.9 $ 197.6 Exercisable at December 31, 2022 $ 79.14 2.3 4.9 $ 177.2 Reserved for future grants at December 31, 2022 21.0
Schedule of Information Related to Stock Options	Information related to stock options is as follows: (In millions) 2022 2021 2020 Pre-tax expense for stock options $ 11 $ 14 $ 9 After-tax expense for stock options 9 11 7 Proceeds from stock options exercised 28 63 70 Income tax benefit related to stock options exercised Tax benefit classified in operating activities in the Consolidated 6 13 10 Intrinsic value of stock options exercised 29 69 50 Total fair value of stock options vested $ 11 $ 14 $ 9 Stock options exercised 0.4 0.9 1.1

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Recognized at Fair Value	A summary of financial instruments and contingent consideration recognized at fair value, and the fair value measurements used, is as follows: (In millions) Total Quoted prices Other Unobservable December 31, 2022 Cash $ 294 $ 294 $ — $ — Short-term investments 261 261 — — Net derivative contracts 29 — 29 — Contingent future payments from acquisition of Green Motion (Note 2) (44) — — (44) December 31, 2021 Cash $ 297 $ 297 $ — $ — Short-term investments 271 271 — — Net derivative contracts 41 — 41 — Contingent future payments from acquisition of Green Motion (Note 2) (57) — — (57)
Schedule of Carrying Value of Short-Term Investments	A summary of short-term investments is as follows: December 31 (In millions) 2022 2021 Time deposits and certificates of deposit with banks $ 248 $ 221 Money market investments 13 43 Investments in marketable equity securities — 7 Total short-term investments $ 261 $ 271

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Financial Instruments Recognized in Consolidated Balance Sheet	The fair value of derivative financial instruments recognized in the Consolidated Balance Sheets is as follows: (In millions) Notional Other Other Other Other Type of Term December 31, 2022 Derivatives designated as hedges Currency exchange contracts $ 1,240 $ 35 $ 2 $ 17 $ 9 Cash flow 1 to 36 months Commodity contracts 64 4 — 2 — Cash flow 1 to 12 months Total $ 39 $ 2 $ 19 $ 9 Derivatives not designated as hedges Currency exchange contracts $ 4,683 $ 30 $ 14 1 to 12 months December 31, 2021 Derivatives designated as hedges Fixed-to-floating interest rate swaps $ 1,800 $ 22 $ 29 $ — $ — Fair value 8 months to 13 years Forward starting floating-to-fixed interest rate swaps 1,350 — 38 — 79 Cash flow 11 to 31 years Currency exchange contracts 1,212 17 2 11 3 Cash flow 1 to 36 months Commodity contracts 50 2 — 1 — Cash flow 1 to 12 months Total $ 41 $ 69 $ 12 $ 82 Derivatives not designated as hedges Currency exchange contracts $ 5,285 $ 34 $ 9 1 to 12 months Commodity contracts 62 1 1 1 month Total $ 35 $ 10 The following amounts were recorded on the Consolidated Balance Sheets related to fixed-to-floating interest rate swaps: (In millions) 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, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Long-term debt $ (713) $ (2,413) $ (48) $ (84) (a) At December 31, 2022 and 2021, these amounts include the cumulative liability amount of fair value hedging adjustments remaining for which the hedge accounting has been discontinued of $48 million and $33 million, respectively.
Schedule of Notional Amounts of Outstanding Derivative Positions and Commodity Contracts	As of December 31, 2022, the volume of outstanding commodity contracts that were entered into to hedge forecasted transactions: Commodity December 31, 2022 Term Aluminum 4 Millions of pounds 1 to 12 months Copper 10 Millions of pounds 1 to 12 months Gold 1,604 Troy ounces 1 to 12 months Silver 699,932 Troy ounces 1 to 12 months
Schedule of Impact of Hedging Activities to Consolidated Statement of Income	The impact of hedging activities to the Consolidated Statements of Income is as follows: 2022 (In millions) Net sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 20,752 $ 13,865 $ 144 Gain (loss) on derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Hedged item $ — $ — $ (4) Derivative designated as hedging instrument — — 4 Currency exchange contracts Hedged item $ 17 $ (26) $ — Derivative designated as hedging instrument (17) 26 — Commodity contracts Hedged item $ — $ 4 $ — Derivative designated as hedging instrument — (4) — Gain (loss) on derivatives designated as fair value hedges Fixed-to-floating interest rate swaps Hedged item $ — $ — $ 8 Derivative designated as hedging instrument — — (8) 2021 (In millions) Net sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 19,628 $ 13,293 $ 144 Gain (loss) on derivatives designated as cash flow hedges Currency exchange contracts Hedged item $ 6 $ — $ — Derivative designated as hedging instrument (6) — — Commodity contracts Hedged item $ — $ (9) $ — Derivative designated as hedging instrument — 9 — Gain (loss) on derivatives designated as fair value hedges Fixed-to-floating interest rate swaps Hedged item $ — $ — $ 51 Derivative designated as hedging instrument — — (51) 2020 (In millions) 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
Schedule of Amounts Recognized in Net Income	The impact of derivatives not designated as hedges to the Consolidated Statements of Income is as follows: Gain (loss) recognized in Consolidated Statements of Income Consolidated Statements of Income classification (In millions) 2022 2021 2020 Gain (loss) on derivatives not designated as hedges Currency exchange contracts $ (56) $ — $ 72 Interest expense - net Commodity contracts (15) 11 4 Other expense (income) - net and Cost of products sold (a) Total $ (71) $ 11 $ 76
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 is as follows: Gain (loss) recognized in (In millions) 2022 2021 2020 Derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps $ 202 $ 50 $ (52) Currency exchange contracts 13 (6) (13) Commodity contracts (5) 6 5 Non-derivative designated as net Foreign currency denominated debt 171 240 (173) Total $ 381 $ 290 $ (233) Location of gain (loss) Gain (loss) reclassified (In millions) 2022 2021 2020 Derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Interest expense - net $ 4 $ — $ — Currency exchange contracts Net sales and Cost of products sold 9 (6) (18) Commodity contracts Cost of products sold (4) 9 1 Non-derivative designated as net Foreign currency denominated debt Interest expense - net — — — Total $ 9 $ 3 $ (17)

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	12 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Program Charges	A summary of restructuring program charges (income) is as follows: (In millions except per share data) 2022 2021 2020 Workforce reductions $ (13) $ 21 $ 172 Plant closing and other 47 57 42 Total before income taxes 1 33 78 214 Income tax benefit 4 18 44 Total after income taxes $ 29 $ 60 $ 170 Per ordinary share - diluted $ 0.07 $ 0.15 $ 0.42 Restructuring program charges (income) related to the following segments: (In millions) 2022 2021 2020 Electrical Americas $ 17 $ 14 $ 18 Electrical Global 14 18 55 Aerospace 8 8 34 Vehicle (15) 21 102 eMobility 1 1 1 Corporate 8 16 4 Total 1 $ 33 $ 78 $ 214
Schedule of Liabilities Related to Restructuring	A summary of liabilities related to workforce reductions, plant closing and other associated costs is as follows: (In millions) 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 Liability recognized 21 57 78 Payments, utilization and translation (64) (52) (116) Balance at December 31, 2021 $ 96 $ 8 $ 104 Liability recognized, net 1 (13) 47 33 Payments, utilization and translation (45) (51) (96) Balance at December 31, 2022 $ 38 $ 4 $ 41 1 The restructuring program liability was adjusted by $30 million in the fourth quarter of 2022 related to true-ups for completed workforce reductions and the decision not to close a facility in the Vehicle segment that was previously included in the program.

BUSINESS SEGMENT AND GEOGRAPH_2

BUSINESS SEGMENT AND GEOGRAPHIC REGION INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Business Segment Information	Business Segment Information (In millions) 2022 2021 2020 Net sales Electrical Americas $ 8,497 $ 7,242 $ 6,680 Electrical Global 5,848 5,516 4,703 Hydraulics — 1,300 1,842 Aerospace 3,039 2,648 2,223 Vehicle 2,830 2,579 2,118 eMobility 538 343 292 Total net sales $ 20,752 $ 19,628 $ 17,858 Segment operating profit (loss) Electrical Americas $ 1,913 $ 1,495 $ 1,352 Electrical Global 1,134 1,034 750 Hydraulics — 177 186 Aerospace 705 580 414 Vehicle 453 449 243 eMobility (9) (29) (8) Total segment operating profit 4,196 3,706 2,937 Corporate Intangible asset amortization expense (499) (444) (354) Interest expense - net (144) (144) (149) Pension and other postretirement benefits income (expense) 43 65 (40) Restructuring program charges (33) (78) (214) Other expense - net (653) (209) (434) Income before income taxes 2,911 2,896 1,746 Income tax expense 445 750 331 Net income 2,465 2,146 1,415 Less net income for noncontrolling interests (4) (2) (5) Net income attributable to Eaton ordinary shareholders $ 2,462 $ 2,144 $ 1,410
Schedule of Identifiable Assets, Capital Expenditures, and Depreciation by Segment	(In millions) 2022 2021 2020 Identifiable assets Electrical Americas $ 3,655 $ 3,002 $ 2,333 Electrical Global 2,658 2,579 2,334 Aerospace 1,859 1,729 1,363 Vehicle 2,230 1,985 1,950 eMobility 402 220 180 Total identifiable assets 10,804 9,515 8,160 Goodwill 14,796 14,751 12,903 Other intangible assets 5,485 5,855 4,175 Corporate 3,929 3,906 4,099 Assets held for sale — — 2,487 Total assets $ 35,014 $ 34,027 $ 31,824 Capital expenditures for property, plant and equipment Electrical Americas $ 181 $ 180 $ 95 Electrical Global 151 120 71 Hydraulics — 34 41 Aerospace 92 78 59 Vehicle 95 112 77 eMobility 52 27 24 Total 571 551 367 Corporate 28 24 22 Total expenditures for property, plant and equipment $ 598 $ 575 $ 389 Depreciation of property, plant and equipment Electrical Americas $ 101 $ 105 $ 101 Electrical Global 94 97 94 Aerospace 64 69 53 Vehicle 89 95 98 eMobility 16 8 6 Total 364 374 352 Corporate 44 52 56 Total depreciation of property, plant and equipment $ 408 $ 426 $ 408
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. (In millions) 2022 2021 2020 Net sales United States $ 12,353 $ 10,868 $ 10,044 Canada 754 797 757 Latin America 1,504 1,160 939 Europe 3,957 4,276 3,818 Asia Pacific 2,185 2,527 2,300 Total $ 20,752 $ 19,628 $ 17,858 Long-lived assets United States $ 1,567 $ 1,593 $ 1,510 Canada 25 25 25 Latin America 383 277 249 Europe 711 701 738 Asia Pacific 460 468 442 Total $ 3,146 $ 3,064 $ 2,964

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) country reporting_unit	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Oct. 03, 2022 USD ($)
Long-Lived Assets [Line Items]
Net sales	$ 20,752,000,000	$ 19,628,000,000	$ 17,858,000,000
Countries where products are sold (more than) | country	170
Investments in associate companies	$ 788,000,000	777,000,000
Revolving Credit Facility | 364 Day Credit Facility
Long-Lived Assets [Line Items]
Credit facility, maximum borrowing capacity				$ 500,000,000
Revolving Credit Facility | Five Year Credit Facility
Long-Lived Assets [Line Items]
Credit facility, maximum borrowing capacity				$ 2,000,000,000
Other postretirement benefits plans
Long-Lived Assets [Line Items]
Defined benefit plan, amortization period of gain (loss)	8 years
Aerospace Segment
Long-Lived Assets [Line Items]
Net sales	$ 3,039,000,000	$ 2,648,000,000	$ 2,223,000,000
Number of reporting units | reporting_unit	2
United States | Pension plans
Long-Lived Assets [Line Items]
Defined benefit plan, amortization period of gain (loss)	22 years
Foreign Plan | Pension plans
Long-Lived Assets [Line Items]
Defined benefit plan, amortization period of gain (loss)	10 years
Customer relationships, certain trademarks, and 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	18 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	40 years
Minimum
Long-Lived Assets [Line Items]
Defined benefit plan, accounting corridor for amortization of net actuarial gains (losses) (as a percent)	8%
Minimum | Associate Companies
Long-Lived Assets [Line Items]
Ownership interest in equity method investment (as a percent)	20%
Minimum | Machinery and equipment
Long-Lived Assets [Line Items]
Useful life	3 years
Minimum | Software
Long-Lived Assets [Line Items]
Useful life	5 years
Maximum
Long-Lived Assets [Line Items]
Defined benefit plan, accounting corridor for amortization of net actuarial gains (losses) (as a percent)	10%
Maximum | Associate Companies
Long-Lived Assets [Line Items]
Ownership interest in equity method investment (as a percent)	50%
Maximum | Machinery and equipment
Long-Lived Assets [Line Items]
Useful life	10 years
Maximum | Software
Long-Lived Assets [Line Items]
Useful life	15 years

ACQUISITIONS AND DIVESTITURES_3

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

3 Months Ended

7 Months Ended

9 Months Ended

12 Months Ended

Jan. 05, 2022

Aug. 02, 2021

Jun. 01, 2021

Mar. 22, 2021

Mar. 17, 2021

Mar. 02, 2020

Jun. 30, 2022

Dec. 31, 2021

Aug. 02, 2021

Dec. 31, 2021

Dec. 31, 2022

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Jul. 01, 2022

Mar. 31, 2022

Jun. 25, 2021

Mar. 29, 2021

Business Acquisition [Line Items]

Cash purchase price, net of cash received

$ 610

$ 4,500

$ 200

Contingent consideration

$ 57

$ 57

$ 44

44

$ 57

Disposal Group, Not Discontinued Operation, Gain (Loss) On Disposal, Statement Of Income Or Comprehensive Income, Not Disclosed Flag

Sale of Hydraulics business

Other Nonoperating Income (Expense)

36

$ (40)

$ (150)

War With Russia And Ukraine

Business Acquisition [Line Items]

Other Nonoperating Income (Expense)

$ 29

Lighting Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Business Acquisition [Line Items]

Cash purchase price, net of cash sold

$ 1,400

Pre-tax gain (loss) on disposal

$ 221

Sales of business sold

$ 1,600

Hydraulics Business | Held-for-sale

Business Acquisition [Line Items]

Cash purchase price, net of cash sold

$ 3,100

$ 3,100

22

22

Hydraulics Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Business Acquisition [Line Items]

Pre-tax gain (loss) on disposal

$ 617

24

Sales of business sold

$ 1,300

Tripp Lite

Business Acquisition [Line Items]

Cash purchase price, net of cash received

$ 1,650

Other intangible assets

630

$ 604

Operating profit of acquiree since acquisition date

139

Revenue of acquiree since acquisition date

$ 419

Tripp Lite | Customer relationships

Business Acquisition [Line Items]

Other intangible assets

$ 539

Useful life of intangible assets acquired

20 years

Tripp Lite | Technology intangible assets

Business Acquisition [Line Items]

Other intangible assets

$ 32

Useful life of intangible assets acquired

5 years

Tripp Lite | Trademarks

Business Acquisition [Line Items]

Other intangible assets

$ 33

Useful life of intangible assets acquired

15 years

Green Motion, SA

Business Acquisition [Line Items]

Cash purchase price, net of cash received

$ 106

Cash purchase price

49

Contingent consideration

57

44

44

Contingent consideration, range of outcomes, high

$ 111

HuanYu High Tech

Business Acquisition [Line Items]

Ownership interest acquired (as a percent)

50%

Mission Systems

Business Acquisition [Line Items]

Other intangible assets

$ 1,575

$ 1,462

Operating profit of acquiree since acquisition date

128

Revenue of acquiree since acquisition date

$ 450

Cash purchase price, net of cash received

2,800

Goodwill, expected tax deductible amount

572

Mission Systems | Customer relationships

Business Acquisition [Line Items]

Other intangible assets

$ 764

Useful life of intangible assets acquired

22 years

Mission Systems | Technology intangible assets

Business Acquisition [Line Items]

Other intangible assets

$ 612

Useful life of intangible assets acquired

21 years

Mission Systems | Order or Production Backlog

Business Acquisition [Line Items]

Other intangible assets

$ 86

Useful life of intangible assets acquired

2 years

Jiangsu YiNeng Electric's busway business

Business Acquisition [Line Items]

Ownership interest acquired (as a percent)

50%

Royal Power Solutions

Business Acquisition [Line Items]

Other intangible assets

$ 306

341

$ 341

Operating profit of acquiree since acquisition date

21

Revenue of acquiree since acquisition date

$ 158

Cash purchase price, net of cash received

610

Royal Power Solutions | Customer relationships

Business Acquisition [Line Items]

Other intangible assets

$ 230

Useful life of intangible assets acquired

17 years

Royal Power Solutions | Technology intangible assets

Business Acquisition [Line Items]

Other intangible assets

$ 90

Useful life of intangible assets acquired

16 years

Royal Power Solutions | Trademarks

Business Acquisition [Line Items]

Other intangible assets

$ 16

Useful life of intangible assets acquired

15 years

Royal Power Solutions | Other

Business Acquisition [Line Items]

Other intangible assets

$ 5

Useful life of intangible assets acquired

2 years

Jiangsu Huineng Electric Co. Ltd.

Business Acquisition [Line Items]

Ownership interest acquired (as a percent)

50%

ACQUISITIONS AND DIVESTITURES_4

ACQUISITIONS AND DIVESTITURES OF BUSINESSES - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	12 Months Ended		13 Months Ended
	Dec. 31, 2022	Mar. 31, 2022	Jun. 30, 2022	Jan. 05, 2022	Dec. 31, 2021	Jun. 01, 2021	Mar. 17, 2021	Dec. 31, 2020
Allocations
Goodwill	$ 14,796				$ 14,751			$ 12,903
Tripp Lite
Allocations
Short-term investments		$ 5					$ 5
Accounts receivable		93					94
Inventory		179					184
Prepaid expenses and other current assets		5					6
Property, plant and equipment		1					6
Other intangible assets		604					630
Other assets		2					0
Accounts payable		(13)					(13)
Other current liabilities		(34)					(32)
Other noncurrent liabilities		(167)					(157)
Total identifiable net assets		675					723
Goodwill		976					928
Total consideration, net of cash received		1,651					$ 1,651
Measurement Period Adjustments
Short-term investments		0
Accounts receivable		(1)
Inventory		(5)
Prepaid expenses and other current assets		(1)
Property, plant and equipment		(5)
Other intangible assets		(26)
Other assets		2
Accounts payable		0
Other current liabilities		(2)
Other noncurrent liabilities		(10)
Total identifiable net assets		(48)
Goodwill		48
Total consideration, net of cash received		$ 0
Mission Systems
Allocations
Accounts receivable			$ 84			$ 84
Inventory			178			179
Prepaid expenses and other current assets			50			45
Property, plant and equipment			97			86
Other intangible assets			1,462			1,575
Other assets			15			19
Accounts payable			(40)			(40)
Other current liabilities			(202)			(159)
Other noncurrent liabilities			(108)			(77)
Total identifiable net assets			1,536			1,712
Goodwill			1,264			1,088
Total consideration, net of cash received			2,800			$ 2,800
Measurement Period Adjustments
Accounts receivable			0
Inventory			(1)
Prepaid expenses and other current assets			5
Property, plant and equipment			11
Other intangible assets			(113)
Other assets			(4)
Accounts payable			0
Other current liabilities			(43)
Other noncurrent liabilities			(31)
Total identifiable net assets			(176)
Goodwill			176
Total consideration, net of cash received			$ 0
Royal Power Solutions
Allocations
Accounts receivable	35			$ 36
Inventory	46			43
Prepaid expenses and other current assets	1			1
Property, plant and equipment	31			25
Other intangible assets	341			306
Other assets	8			21
Accounts payable	(25)			(24)
Other current liabilities	(14)			(10)
Other noncurrent liabilities	(68)			(70)
Total identifiable net assets	355			328
Goodwill	255			284
Total consideration, net of cash received	610			$ 612
Measurement Period Adjustments
Accounts receivable	(1)
Inventory	3
Prepaid expenses and other current assets	0
Property, plant and equipment	6
Other intangible assets	35
Other assets	(13)
Accounts payable	(1)
Other current liabilities	(4)
Other noncurrent liabilities	2
Total identifiable net assets	27
Goodwill	(29)
Total consideration, net of cash received	$ (2)

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Sales recognized over time, as a percent of Consolidated Net Sales (less than) (as a percent)	5%
Accrued rebates	$ 400	$ 327
Accounts receivables from customers	3,581	2,896
Unbilled receivables	233	187
Deferred revenue liabilities, included in other current liabilities	489	$ 395
Backlog of unsatisfied or partially satisfied obligations	$ 11,400
Backlog expected to be recognized in the next twelve months (as a percent)	82%

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Sales (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 20,752	$ 19,628	$ 17,858
United States
Disaggregation of Revenue [Line Items]
Net sales	12,353	10,868	10,044
Electrical Americas
Disaggregation of Revenue [Line Items]
Net sales	8,497	7,242	6,680
Electrical Global
Disaggregation of Revenue [Line Items]
Net sales	5,848	5,516	4,703
Hydraulics
Disaggregation of Revenue [Line Items]
Net sales	0	1,300	1,842
Hydraulics | United States
Disaggregation of Revenue [Line Items]
Net sales	0	534	796
Hydraulics | Rest of World
Disaggregation of Revenue [Line Items]
Net sales	0	766	1,046
Aerospace
Disaggregation of Revenue [Line Items]
Net sales	3,039	2,648	2,223
Aerospace | Original Equipment Manufacturers
Disaggregation of Revenue [Line Items]
Net sales	1,209	1,018	986
Aerospace | Aftermarket
Disaggregation of Revenue [Line Items]
Net sales	977	823	685
Aerospace | Industrial and Other
Disaggregation of Revenue [Line Items]
Net sales	854	807	552
Vehicle
Disaggregation of Revenue [Line Items]
Net sales	2,830	2,579	2,118
eMobility
Disaggregation of Revenue [Line Items]
Net sales	538	343	292
Products | Electrical Americas
Disaggregation of Revenue [Line Items]
Net sales	2,732	2,255	2,255
Products | Electrical Global
Disaggregation of Revenue [Line Items]
Net sales	3,424	3,283	2,608
Systems | Electrical Americas
Disaggregation of Revenue [Line Items]
Net sales	5,765	4,987	4,425
Systems | Electrical Global
Disaggregation of Revenue [Line Items]
Net sales	2,424	2,233	2,095
Commercial | Vehicle
Disaggregation of Revenue [Line Items]
Net sales	1,736	1,438	1,060
Passenger and Light Duty | Vehicle
Disaggregation of Revenue [Line Items]
Net sales	$ 1,094	$ 1,141	$ 1,058

REVENUE RECOGNITION - Changes i

REVENUE RECOGNITION - Changes in Deferred Revenue Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Movement in Deferred Revenue [Roll Forward]
Balance at beginning of period	$ 422	$ 257
Customer deposits and billings	1,656	1,267
Revenue recognized in the period	(1,541)	(1,192)
Deferred revenue from business acquisitions		99
Translation and other	(29)	(9)
Balance at end of period	$ 508	$ 422

CREDIT LOSSES FOR RECEIVABLES -

CREDIT LOSSES FOR RECEIVABLES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Credit Loss [Abstract]
Allowance for credit losses	$ 31	$ 42

INVENTORY - Summary (Details)

INVENTORY - Summary (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 1,275	$ 1,096
Work-in-process	781	620
Finished goods	1,375	1,253
Total inventory	$ 3,430	$ 2,969

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Balance at beginning of period	$ 14,751	$ 12,903
Additions	445	2,147
Translation	(400)	(299)
Balance at end of period	14,796	14,751
Electrical Americas
Goodwill [Roll Forward]
Balance at beginning of period	7,417	6,456
Additions	5	971
Translation	(19)	(10)
Balance at end of period	7,402	7,417
Electrical Global
Goodwill [Roll Forward]
Balance at beginning of period	4,183	4,295
Additions	2	85
Translation	(255)	(197)
Balance at end of period	3,929	4,183
Aerospace
Goodwill [Roll Forward]
Balance at beginning of period	2,781	1,777
Additions	184	1,091
Translation	(122)	(87)
Balance at end of period	2,844	2,781
Vehicle
Goodwill [Roll Forward]
Balance at beginning of period	290	293
Additions	0	0
Translation	(2)	(3)
Balance at end of period	287	290
eMobility
Goodwill [Roll Forward]
Balance at beginning of period	80	82
Additions	255	0
Translation	(1)	(2)
Balance at end of period	$ 334	$ 80

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets by Major Class (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Summary of other intangible assets
Intangible assets not subject to amortization	$ 1,201	$ 1,374
Intangible assets subject to amortization
Historical cost	7,952	7,747
Accumulated amortization	3,667	3,266
Customer relationships
Intangible assets subject to amortization
Historical cost	4,677	4,752
Accumulated amortization	2,156	1,974
Patents and technology
Intangible assets subject to amortization
Historical cost	1,987	1,879
Accumulated amortization	830	712
Trademarks
Intangible assets subject to amortization
Historical cost	1,113	951
Accumulated amortization	570	518
Other
Intangible assets subject to amortization
Historical cost	175	165
Accumulated amortization	$ 111	$ 62

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortization Expense of Intangible Assets (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 483
2023	430
2024	403
2025	398
2026	382
2027	$ 373

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 179	$ 164	$ 184
Finance lease cost: Amortization of lease assets	11	12	6
Finance lease cost: Interest on lease liabilities	1	2	1
Short-term lease cost	17	15	18
Variable lease cost	27	16	3
Sublease income	(1)	(2)	(2)
Total lease cost	$ 234	$ 207	$ 210

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Gain on sale leaseback transactions	$ 81	$ 0	$ 9
Minimum
Lessee, Lease, Description [Line Items]
Lease term	15 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term	20 years

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information related to Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows - payments on operating leases	$ (159)	$ (158)	$ (144)
Operating cash outflows - interest payments on finance leases	(2)	(2)	(1)
Financing cash outflows - payments on finance lease obligations	(11)	(11)	(8)
Lease assets obtained in exchange for new lease obligations, including leases acquired:
Operating leases	245	145	144
Finance leases	$ 10	$ 14	$ 16

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Operating lease assets	$ 570	$ 442
Other current liabilities	127	120
Operating lease liabilities	459	337
Total operating lease liabilities	586	457
Accumulated depreciation	(20)	(19)
Net property, plant and equipment	26	34
Current portion of long-term debt	10	15
Long-term debt	18	23
Total finance lease liabilities	$ 28	$ 38
Weighted-average remaining lease term
Operating leases	7 years 7 months 6 days	5 years 4 months 24 days
Finance leases	4 years 10 months 24 days	5 years 3 months 18 days
Weighted-average discount rate
Operating leases (as a percent)	3.30%	2.60%
Finance leases (as a percent)	3%	3.30%
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt less current portion	Long-term debt less current portion
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Long-Term Debt and Lease Obligation, Current	Long-Term Debt and Lease Obligation, Current
Land and buildings
Lessee, Lease, Description [Line Items]
Finance Lease, right-of-use asset	$ 6	$ 6
Machinery and equipment
Lessee, Lease, Description [Line Items]
Finance Lease, right-of-use asset	$ 40	$ 47

LEASES - Maturities of Operatin

LEASES - Maturities of Operating and Financing Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
2023	$ 145
2024	118
2025	86
2026	69
2027	54
Thereafter	209
Total lease payments	681
Less imputed interest	95
Total present value of lease liabilities	586	$ 457
Finance Leases
2023	10
2024	7
2025	4
2026	3
2027	2
Thereafter	4
Total lease payments	30
Less imputed interest	2
Total present value of lease liabilities	$ 28	$ 38

DEBT - Long-term Debt, includin

DEBT - Long-term Debt, including Current Portion (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total long-term debt	$ 8,331	$ 8,566
Less current portion of long-term debt	(10)	(1,735)
Long-term debt less current portion	8,321	6,831
Debentures | 8.10% debentures due 2022
Debt Instrument [Line Items]
Total long-term debt	$ 0	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	$ 137	136
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 | 3.68% notes due 2023
Debt Instrument [Line Items]
Total long-term debt	$ 0	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 | 0.75% Euro notes due 2024
Debt Instrument [Line Items]
Total long-term debt	$ 587	624
Debt instrument, stated interest rate (as a percent)	0.75%
Notes | 0.70% Euro notes due 2025
Debt Instrument [Line Items]
Total long-term debt	$ 534	567
Debt instrument, stated interest rate (as a percent)	0.70%
Notes | 0.128% Euro notes due 2026
Debt Instrument [Line Items]
Total long-term debt	$ 960	1,021
Debt instrument, stated interest rate (as a percent)	0.128%
Notes | 0.577% Euro notes due 2030
Debt Instrument [Line Items]
Total long-term debt	$ 640	681
Debt instrument, stated interest rate (as a percent)	0.577%
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	$ 0	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 | 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%
Senior notes | 4.15% sustainability-linked senior notes due 2033
Debt Instrument [Line Items]
Total long-term debt	$ 1,300	0
Debt instrument, stated interest rate (as a percent)	4.15%
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%
Senior notes | 4.70% senior notes due 2052
Debt Instrument [Line Items]
Total long-term debt	$ 700	0
Debt instrument, stated interest rate (as a percent)	4.70%
Other long-term debt
Debt Instrument [Line Items]
Total long-term debt	$ 23	$ 87

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($)	Aug. 23, 2022	Dec. 31, 2022	Oct. 03, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Short-term debt		$ 324,000,000		$ 13,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings outstanding		0
Revolving Credit Facility | Rest of World
Debt Instrument [Line Items]
Borrowings outstanding		24,000,000
Letter of Credit
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		919,000,000
Letters of credit outstanding, amount		$ 414,000,000
Senior notes
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 1,980,000,000
Debt redemption price, percentage	101%
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 | 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%
0.128% Euro Notes Due 2026 | Notes | Tranche One
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)		0.128%
0.577% Euro Notes Due 2030 | Notes | Tranche Two
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)		0.577%
364 Day Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 500,000,000
Long-term debt, term			364 days
Commercial Paper | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 3,000,000,000	$ 3,000,000,000
Borrowings outstanding		300,000,000
Commercial Paper | Revolving Credit Facility | United States
Debt Instrument [Line Items]
Borrowings outstanding		$ 300,000,000
Weighted average interest rate		4.67%
Five Year Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 2,000,000,000
Long-term debt, term			5 years
2022 Sustainability-Linked Notes | Senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	4.15%
Face amount	$ 1,300,000,000
2022 Sustainability-Linked Notes | Senior notes | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
2022 Senior Notes | Senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	4.70%
Face amount	$ 700,000,000
Five Year Credit Facility Expiring On October 1, 2027 | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 2,500,000,000
Long-term debt, term			5 years
364 Day Credit Facility Expiring On October 2, 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 500,000,000
Long-term debt, term			364 days

DEBT - Maturities of Long-term

DEBT - Maturities of Long-term Debt (Details) $ in Millions	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 10
2024	659
2025	682
2026	1,035
2027	$ 702

DEBT - Interest Paid on Debt (D

DEBT - Interest Paid on Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Interest paid on debt	$ 250	$ 207	$ 216

RETIREMENT BENEFITS PLANS - Obl

RETIREMENT BENEFITS PLANS - Obligations and Funded Status (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Funded status
Fair value of plan assets	$ 4,121	$ 5,919
Pension plans | United States
Funded status
Fair value of plan assets	2,635	3,672	$ 3,463
Benefit obligations	(2,807)	(3,760)	(4,121)
Funded status	(172)	(88)
Amounts recognized in the Consolidated Balance Sheets
Other assets	0	59
Other current liabilities	(19)	(16)
Pension liabilities and Other postretirement benefits liabilities	(153)	(131)
Total	(172)	(88)
Amounts recognized in Accumulated other comprehensive loss (pre-tax)
Net actuarial (gain) loss	807	708
Prior service cost (credit)	5	5
Total	811	713	1,051
Pension plans | Foreign Plan
Funded status
Fair value of plan assets	1,486	2,247	2,137
Benefit obligations	(1,813)	(2,837)	(3,036)
Funded status	(327)	(590)
Amounts recognized in the Consolidated Balance Sheets
Other assets	199	179
Other current liabilities	(30)	(28)
Pension liabilities and Other postretirement benefits liabilities	(496)	(741)
Total	(327)	(590)
Amounts recognized in Accumulated other comprehensive loss (pre-tax)
Net actuarial (gain) loss	491	745
Prior service cost (credit)	14	18
Total	505	763	1,026
Other postretirement benefits plans
Funded status
Fair value of plan assets	16	19	20
Benefit obligations	(209)	(304)	(375)
Funded status	(194)	(285)
Amounts recognized in the Consolidated Balance Sheets
Other assets	0	0
Other current liabilities	(17)	(22)
Pension liabilities and Other postretirement benefits liabilities	(177)	(263)
Total	(194)	(285)
Amounts recognized in Accumulated other comprehensive loss (pre-tax)
Net actuarial (gain) loss	(119)	(55)
Prior service cost (credit)	(2)	0
Total	$ (120)	$ (55)	$ (2)

RETIREMENT BENEFITS PLANS - Cha

RETIREMENT BENEFITS PLANS - Change in Benefit Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension plans | United States
Change in benefit obligations
Balance at January 1	$ 3,760	$ 4,121
Service cost	27	37	$ 97
Interest cost	117	70	103
Actuarial (gain) loss	(713)	(82)
Gross benefits paid	(386)	(435)
Currency translation	0	0
Plan amendments	1	1
Acquisitions and divestitures	0	48
Other	0	0
Balance at December 31	2,807	3,760	4,121
Accumulated benefit obligation	2,784	3,707
Pension plans | Foreign Plan
Change in benefit obligations
Balance at January 1	2,837	3,036
Service cost	59	72	73
Interest cost	47	40	45
Actuarial (gain) loss	(817)	(143)
Gross benefits paid	(99)	(107)
Currency translation	(218)	(79)
Plan amendments	1	0
Acquisitions and divestitures	0	14
Other	3	4
Balance at December 31	1,813	2,837	3,036
Accumulated benefit obligation	1,737	2,709
Other postretirement benefits plans
Change in benefit obligations
Balance at January 1	304	375
Service cost	1	1	2
Interest cost	7	6	9
Actuarial (gain) loss	(73)	(59)
Gross benefits paid	(38)	(36)
Currency translation	(3)	0
Plan amendments	(2)	0
Acquisitions and divestitures	0	2
Other	13	15
Balance at December 31	$ 209	$ 304	$ 375

RETIREMENT BENEFITS PLANS - C_2

RETIREMENT BENEFITS PLANS - Change in Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in plan assets
Balance at January 1	$ 5,919
Balance at December 31	4,121	$ 5,919
Pension plans
Change in plan assets
Employer contributions	116	343	$ 122
Pension plans | United States
Change in plan assets
Balance at January 1	3,672	3,463
Actual return on plan assets	(682)	380
Employer contributions	30	237	18
Gross benefits paid	(386)	(435)
Currency translation	0	0
Acquisitions and divestitures	0	27
Other	0	0
Balance at December 31	2,635	3,672	3,463
Pension plans | Foreign Plan
Change in plan assets
Balance at January 1	2,247	2,137
Actual return on plan assets	(554)	127
Employer contributions	85	106	104
Gross benefits paid	(99)	(107)
Currency translation	(197)	(23)
Acquisitions and divestitures	0	4
Other	3	3
Balance at December 31	1,486	2,247	2,137
Other postretirement benefits plans
Change in plan assets
Balance at January 1	19	20
Actual return on plan assets	(2)	0
Employer contributions	24	20
Gross benefits paid	(38)	(36)
Currency translation	0	0
Acquisitions and divestitures	0	0
Other	13	15
Balance at December 31	$ 16	$ 19	$ 20

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, 2022	Dec. 31, 2021
United States
Components of pension plans with an accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	$ 2,784	$ 131
Fair value of plan assets	2,635	0
Components of pension plans with a projected benefit obligation in excess of plan assets
Projected benefit obligation	2,807	147
Fair value of plan assets	2,635	0
Foreign Plan
Components of pension plans with an accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	654	894
Fair value of plan assets	173	207
Components of pension plans with a projected benefit obligation in excess of plan assets
Projected benefit obligation	722	1,290
Fair value of plan assets	$ 195	$ 521

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, 2022	Dec. 31, 2021
Pension plans | United States
Changes in pension and other postretirement benefit liabilities recognized in Accumulated other comprehensive loss
Balance at January 1	$ 713	$ 1,051
Prior service cost arising during the year	1	1
Net loss (gain) arising during the year	173	(238)
Currency translation	0	0
Other	0	0
Less amounts included in expense during the year	(76)	(101)
Net change for the year	98	(338)
Balance at December 31	811	713
Pension plans | Foreign Plan
Changes in pension and other postretirement benefit liabilities recognized in Accumulated other comprehensive loss
Balance at January 1	763	1,026
Prior service cost arising during the year	1	0
Net loss (gain) arising during the year	(149)	(151)
Currency translation	(64)	(24)
Other	0	0
Less amounts included in expense during the year	(47)	(88)
Net change for the year	(259)	(263)
Balance at December 31	505	763
Other postretirement benefits plans
Changes in pension and other postretirement benefit liabilities recognized in Accumulated other comprehensive loss
Balance at January 1	(55)	(2)
Prior service cost arising during the year	(2)	0
Net loss (gain) arising during the year	(69)	(59)
Currency translation	(1)	0
Other	0	0
Less amounts included in expense during the year	7	6
Net change for the year	(65)	(53)
Balance at December 31	$ (120)	$ (55)

RETIREMENT BENEFITS PLANS - Ben

RETIREMENT BENEFITS PLANS - Benefits Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension plans
Defined Benefit Plans and Other Postretirement Benefit Plans
Total expense (income)		$ 66
Pension plans | United States
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 27	37	$ 97
Interest cost	117	70	103
Expected return on plan assets	(204)	(223)	(231)
Amortization	15	36	102
Benefit plans	(46)	(80)	71
Settlements, curtailments and special termination benefits	61	65	62
Total expense (income)	15	(15)	133
Settlement and curtailment expense	(61)	(65)	(62)
Pension plans | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	59	72	73
Interest cost	47	40	45
Expected return on plan assets	(115)	(120)	(109)
Amortization	45	71	60
Benefit plans	37	63	69
Settlements, curtailments and special termination benefits	2	17	10
Total expense (income)	39	80	79
Settlement and curtailment expense	(2)	(17)	(10)
Other postretirement benefits plans
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	1	1	2
Interest cost	7	6	9
Expected return on plan assets	(1)	0	0
Amortization	(7)	(5)	(13)
Benefit plans	0	2	(2)
Settlements, curtailments and special termination benefits	0	(1)	0
Total expense (income)	0	1	(2)
Settlement and curtailment expense	$ 0	1	$ 0
Hydraulics Business | Pension plans
Defined Benefit Plans and Other Postretirement Benefit Plans
Settlements, curtailments and special termination benefits		(13)
Settlement and curtailment expense		$ 13

RETIREMENT BENEFITS PLANS - Pen

RETIREMENT BENEFITS PLANS - Pension Plans Assumptions (Details) - Pension plans	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
United States
Assumptions used to determine benefit obligation at year-end (as a percent)
Discount rate		5.47%	2.81%	2.48%
Rate of compensation increase		3.33%	3.12%	3.12%
Interest rate used to credit cash balance plans		3.67%	1.99%	2.02%
Assumptions used to determine expense (as a percent)
Discount rate used to determine benefit obligation		4.30%	2.61%	3.22%
Discount rate used to determine service cost		4.41%	2.92%	3.34%
Discount rate used to determine interest cost		3.94%	1.83%	2.75%
Expected long-term return on plan assets		6.50%	6.75%	7.25%
Rate of compensation increase		3.12%	3.12%	3.14%
Interest rate used to credit cash balance plans		2.62%	2.14%	2.59%
Foreign Plan
Assumptions used to determine benefit obligation at year-end (as a percent)
Discount rate		4.83%	2.01%	1.59%
Rate of compensation increase		3.12%	3.01%	3.02%
Interest rate used to credit cash balance plans		2.32%	0.56%	0.53%
Assumptions used to determine expense (as a percent)
Discount rate used to determine benefit obligation		2.01%	1.63%	2.02%
Discount rate used to determine service cost		2.98%	2.52%	2.78%
Discount rate used to determine interest cost		1.84%	1.36%	1.82%
Expected long-term return on plan assets		5.70%	5.62%	5.84%
Rate of compensation increase		3.01%	3.02%	3.05%
Interest rate used to credit cash balance plans		0.56%	0.52%	0.54%
Forecast | United States
Assumptions used to determine expense (as a percent)
Expected long-term return on plan assets	6.50%
Forecast | Foreign Plan
Assumptions used to determine expense (as a percent)
Expected long-term return on plan assets	6.32%

RETIREMENT BENEFITS PLANS - Oth

RETIREMENT BENEFITS PLANS - Other Postretirement Benefits Plan Assumptions (Details) - Other postretirement benefits plans	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assumptions used to determine benefit obligation at year-end (as a percent)
Discount rate	5.46%	2.79%	2.37%
Health care cost trend rate assumed for next year	7.10%	7.45%	7.05%
Ultimate health care cost trend rate	4.75%	4.75%	4.75%
Year ultimate health care cost trend rate is achieved	2031	2031	2030
Assumptions used to determine expense (as a percent)
Discount rate used to determine benefit obligation	2.79%	2.44%	3.13%
Discount rate used to determine service cost	3.03%	2.76%	3.25%
Discount rate used to determine interest cost	2.24%	1.70%	2.67%
Initial health care cost trend rate	7.45%	7.38%	6.95%
Ultimate health care cost trend rate	4.75%	4.75%	4.75%
Year ultimate health care cost trend rate is achieved	2031	2030	2029

RETIREMENT BENEFITS PLANS - Emp

RETIREMENT BENEFITS PLANS - Employer Contributions to Retirement Benefits Plans (Details) - Pension plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans
Expected future contributions, defined benefit plans	$ 108
Employer contributions to pension plans	116	$ 343	$ 122
United States
Defined Benefit Plans and Other Postretirement Benefit Plans
Expected future contributions, defined benefit plans	23
Employer contributions to pension plans	30	237	18
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Expected future contributions, defined benefit plans	86
Employer contributions to pension plans	$ 85	$ 106	$ 104

RETIREMENT BENEFITS PLANS - Est

RETIREMENT BENEFITS PLANS - Estimated Pension and Other Postretirement Benefit Payments (Details) $ in Millions	Dec. 31, 2022 USD ($)
Pension plans | United States
Defined Benefit Plans and Other Postretirement Benefit Plans
2023	$ 281
2024	267
2025	261
2026	253
2027	242
2028 - 2032	1,100
Pension plans | Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
2023	101
2024	101
2025	101
2026	107
2027	110
2028 - 2032	595
Other postretirement benefits plans
Defined Benefit Plans and Other Postretirement Benefit Plans
2023	20
Medicare prescription drug subsidy 2023	0
2024	18
Medicare prescription drug subsidy 2024	0
2025	17
Medicare prescription drug subsidy 2025	0
2026	16
Medicare prescription drug subsidy 2026	0
2027	19
Medicare prescription drug subsidy 2027	0
2028 - 2032	84
Medicare prescription drug subsidy 2028 - 2032	$ (1)

RETIREMENT BENEFITS PLANS - Fai

RETIREMENT BENEFITS PLANS - Fair Value of Pension Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
United States pension plans percentage of worldwide pension assets	64%
United Kingdom pension plans percentage of worldwide pension assets	25%
United States pension plans' target allocation of United States equities	19%
United States pension plans' target allocation of non-United States equities	13%
United States pension plans' target allocation of real estate	3%
United State pension plans' target allocation of debt securities	54%
United States pension plans' target allocation of other, including private equity, private debt, and cash equivalents	11%
United Kingdom pension plans' target allocation of equities	32%
Total pension plan assets	$ 4,121	$ 5,919
Pending purchases and sales of plan assets, and interest receivable	(69)	(99)
Unfunded commitments	180	192
Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	834	806
Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	1,694	2,827
Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	559	535
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	173	586
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	173	586
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	54	240
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	54	240
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	620	624
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	620	624
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	744	1,074
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	744	1,074
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	660	417
United States treasuries | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	660	417
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		117
Bank loans | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets		0
Bank loans | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets		117
Bank loans | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets		0
Real estate | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	295	471
Real estate | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	76	237
Real estate | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	20	18
Real estate | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	199	216
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets		2
Equity securities | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets		2
Equity securities | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets		0
Equity securities | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets		0
Cash equivalents | Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	77	150
Cash equivalents | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	21	28
Cash equivalents | Other observable inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	56	122
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	77	122
Exchange traded funds | Quoted prices in active markets for identical assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	77	122
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	387	365
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	27	46
Other | Unobservable inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Total pension plan assets	360	319
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	1,100	1,841
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	$ 3	$ 9

RETIREMENT BENEFITS PLANS - C_4

RETIREMENT BENEFITS PLANS - Change in Plan Level 3 Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at January 1	$ 5,919
Balance at December 31	4,121	$ 5,919
Unobservable inputs (Level 3)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at January 1	535
Balance at December 31	559	535
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	216
Balance at December 31	199	216
Unobservable inputs (Level 3) | Other
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Balance at January 1	319
Balance at December 31	360	319
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	535	358
Gains (losses) relating to assets still held at year-end	(2)	89
Purchases, sales, settlements - net	26	83
Transfers into or out of Level 3	0	5
Balance at December 31	559	535
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	216	184
Gains (losses) relating to assets still held at year-end	1	28
Purchases, sales, settlements - net	(18)	4
Transfers into or out of Level 3	0	0
Balance at December 31	199	216
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	319	174
Gains (losses) relating to assets still held at year-end	(3)	61
Purchases, sales, settlements - net	44	79
Transfers into or out of Level 3	0	5
Balance at December 31	$ 360	$ 319

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, 2022	Dec. 31, 2021
Fair Value of Other Postretirement Benefits Plan Assets [Line Items]
Cash equivalents	$ 3	$ 3
Common collective and other trusts measured at net asset value	13	16
Total other postretirement benefits plan assets	16	19
Quoted prices in active markets for identical assets (Level 1)
Fair Value of Other Postretirement Benefits Plan Assets [Line Items]
Cash equivalents	3	3
Total other postretirement benefits plan assets	3	3
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Employer contributions to defined contribution plans	$ 182	$ 171	$ 111

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) site	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of environmental remediation sites world wide	111
Number of environmental remediation sites world wide with individual significance	0
Accrual for environmental loss contingencies | $	$ 73	$ 99
Environmental Loss Contingency, Statement Of Financial Position, Extensible Enumeration, Not Disclosed Flag	accrual	accrual

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Current and Long-Term Warranty Accruals (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current and long-term warranty accruals [Roll Forward]
Balance at January 1	$ 125	$ 151	$ 187
Provision	83	65	100
Settled	(81)	(112)	(130)
Warranty accruals from business acquisitions and other	(2)	21	2
Warranty accruals reclassified to held for sale	0	0	(8)
Balance at December 31	$ 125	$ 125	$ 151

INCOME TAXES - Income (Loss) be

INCOME TAXES - Income (Loss) before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income (Loss) Before Income Taxes [Line Items]
Income before income taxes	$ 2,911	$ 2,896	$ 1,746
Ireland
Income (Loss) Before Income Taxes [Line Items]
Income before income taxes	198	153	(132)
Foreign
Income (Loss) Before Income Taxes [Line Items]
Income before income taxes	$ 2,713	$ 2,743	$ 1,878

INCOME TAXES - Income Tax (Bene

INCOME TAXES - Income Tax (Benefit) Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current
Ireland	$ 3	$ 50	$ 15
Foreign	570	730	441
Total current income tax expense	573	780	456
Deferred
Ireland	13	(2)	0
Foreign	(141)	(28)	(125)
Total deferred income tax expense (benefit)	(128)	(30)	(125)
Total income tax expense	$ 445	$ 750	$ 331

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
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%	25%	25%
Effective income tax expense rate	15.30%	25.90%	19%
Ireland operations
Reconciliation of income taxes from appropriate statutory rate to the consolidated effective income tax rate [Line Items]
Ireland tax on trading income	(1.30%)	(0.70%)	(0.20%)
Nondeductible interest expense	1%	0.60%	2.70%
Other items	(0.50%)	(0.20%)	0.40%
Foreign operations
Reconciliation of income taxes from appropriate statutory rate to the consolidated effective income tax rate [Line Items]
Other items	1.60%	(0.10%)	1.60%
Tax impact on sale of businesses	0%	9.10%	3.90%
Earnings taxed at other than the applicable statutory tax rate	(10.20%)	(8.00%)	(14.00%)
Worldwide operations
Reconciliation of income taxes from appropriate statutory rate to the consolidated effective income tax rate [Line Items]
Adjustments to tax liabilities	(0.40%)	0.20%	(0.60%)
Adjustments to valuation allowances	0.10%	0%	0.20%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) advancedPricingAgreement taxCase	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 21, 2022 USD ($)	Aug. 31, 2021 USD ($)	Nov. 30, 2019 USD ($)
Income Taxes [Abstract]
Income tax expense	$ 445,000,000	$ 750,000,000	$ 331,000,000
Effective income tax (benefit) expense rate (as a percent)	15.30%	25.90%	19%
Provision for income taxes on undistributed earnings of foreign subsidiaries	$ 0
Undistributed earnings of foreign subsidiaries	31,600,000,000
Unrecognized tax benefits that would impact effective tax rate	833,000,000
Income tax examination, penalties and interest accrued	137,000,000	$ 128,000,000
Secretariat of the Federal Revenue Bureau of Brazil
Income Taxes [Abstract]
Alleged tax deficiency					$ 31,000,000
Income tax examination, penalties and interest accrued					$ 110,000,000
Pledged real estate assets	19,000,000
Real estate bond	116,000,000
Real estate cash deposit	18,000,000
Tax Years 2005-2006
Income Taxes [Abstract]
IRS Statutory Notice of Deficiency proposed assessment of additional federal taxes	75,000,000
Penalties associated with IRS Statutory Notice of Deficiency proposed assessment	$ 52,000,000
Number of advance pricing agreements | advancedPricingAgreement	2
Tax Years 2005-2012 | Secretariat of the Federal Revenue Bureau of Brazil
Income Taxes [Abstract]
Number of tax cases | taxCase	2
Alleged tax deficiency						$ 27,000,000
Income tax examination, penalties and interest accrued						$ 102,000,000
Tax Years 2007-2010
Income Taxes [Abstract]
IRS Statutory Notice of Deficiency proposed assessment of additional federal taxes	$ 190,000,000
Penalties associated with IRS Statutory Notice of Deficiency proposed assessment	72,000,000
Tax Years 2011-2013
Income Taxes [Abstract]
IRS Statutory Notice of Deficiency proposed assessment of additional federal taxes				$ 749,000,000
Penalties associated with IRS Statutory Notice of Deficiency proposed assessment				$ 110,000,000
LUXEMBOURG
Income Taxes [Abstract]
Deferred tax asset, increase to valuation allowance	$ 1,000,000,000

INCOME TAXES- Worldwide Income

INCOME TAXES- Worldwide Income Tax Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes paid	$ 393	$ 753	$ 391

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Income Taxes (Details) - Noncurrent assets and liabilities - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accruals and other adjustments
Employee benefits	$ 266	$ 348
Depreciation and amortization	(1,067)	(1,087)
Other accruals and adjustments	397	385
Ireland income tax loss carryforwards	1	1
Foreign income tax loss carryforwards	4,151	3,127
Foreign income tax credit carryforwards	280	263
Valuation allowance for income tax loss and income tax credit carryforwards	(4,184)	(3,139)
Other valuation allowances	(44)	(65)
Total deferred income taxes	$ (200)	$ (167)

INCOME TAXES - Operating Loss a

INCOME TAXES - Operating Loss and Tax Credit Carryforwards by Expiration Dates (Details) - Foreign Tax Authority $ in Millions	Dec. 31, 2022 USD ($)
2023 through 2027
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	$ 79
Foreign deferred income tax assets for income tax loss carryforwards	20
Foreign income tax credit carryforwards	190
2023 through 2027 | 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
2023 through 2027 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax credit carryforwards	159
2023 through 2027 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign deferred income tax assets for income tax loss carryforwards	11
2028 through 2032
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	7,277
Foreign deferred income tax assets for income tax loss carryforwards	661
Foreign income tax credit carryforwards	67
2028 through 2032 | 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
2028 through 2032 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax credit carryforwards	38
2028 through 2032 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign deferred income tax assets for income tax loss carryforwards	658
2033 through 2037
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	11,478
Foreign deferred income tax assets for income tax loss carryforwards	2,867
Foreign income tax credit carryforwards	52
2033 through 2037 | 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
2033 through 2037 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax credit carryforwards	49
2033 through 2037 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign deferred income tax assets for income tax loss carryforwards	2,867
2038 through 2047
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	170
Foreign deferred income tax assets for income tax loss carryforwards	49
Foreign income tax credit carryforwards	3
2038 through 2047 | 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
2038 through 2047 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax credit carryforwards	3
2038 through 2047 | After ASU 2013-11
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign deferred income tax assets for income tax loss carryforwards	49
Not subject to expiration
Operating Loss and Tax Credit Carry Forward [Line Items]
Foreign income tax loss carryforwards	2,372
Foreign deferred income tax assets for income tax loss carryforwards	568
Foreign income tax credit carryforwards	31
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	31
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	566
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	4,034
Foreign income tax credit carryforwards	149
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	149
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	$ 4,034

INCOME TAXES - Gross Unrecogniz

INCOME TAXES - Gross Unrecognized Income Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 1,120	$ 1,036	$ 1,001
Increases and decreases as a result of positions taken during prior years
Transfers from valuation allowances	0	6	0
Other increases, including currency translation	36	22	10
Other decreases, including currency translation	(16)	(10)	(10)
Increases related to acquired businesses	10	12	7
Increases as a result of positions taken during the current year	97	75	58
Decreases relating to settlements with tax authorities	0	(11)	(26)
Decreases as a result of a lapse of the applicable statute of limitations	(12)	(10)	(4)
Balance at December 31	$ 1,235	$ 1,120	$ 1,036

EATON SHAREHOLDERS' EQUITY - Na

EATON SHAREHOLDERS' EQUITY - Narrative (Details)			2 Months Ended	12 Months Ended
	Feb. 23, 2023 $ / shares	Feb. 23, 2022 USD ($)	Feb. 23, 2023	Dec. 31, 2022 USD ($) employee $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 $ / shares shares	Dec. 31, 2022 € / shares	Dec. 31, 2022 USD ($) holder $ / shares shares	Dec. 31, 2021 € / shares	Dec. 31, 2021 USD ($) $ / shares shares	Feb. 27, 2019 USD ($)
Subsequent Event [Line Items]
Ordinary shares authorized (shares)								750,000,000
Ordinary share par value (USD per share) | $ / shares								$ 0.01
Ordinary shares outstanding (shares)								397,800,000		398,800,000
Ordinary shares issued (shares)								397,800,000		398,800,000
Deferred ordinary shares authorized (shares)								40,000		40,000
Deferred ordinary shares par value (EUR 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								10,034
Number of current and former employees who were shareholders through various Eaton plans | employee				14,158
Share repurchase program, authorized amount | $		$ 5,000,000,000									$ 5,000,000,000
Ordinary shares purchased (shares)				2,000,000	900,000
Stock repurchased (shares) | $				$ 286,000,000	$ 122,000,000
Deferred compensation plan trust of shares and marketable securities | $								$ 3,000,000		$ 4,000,000
Quarterly dividends declared per share (USD per share) | $ / shares				$ 3.24	$ 3.04	$ 2.92
Antidilutive securities excluded from computation of net income per ordinary share (shares)				100,000		600,000
2022 Program
Subsequent Event [Line Items]
Stock repurchase program, period in force		3 years
Preferred A Stock
Subsequent Event [Line Items]
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
Subsequent Event [Line Items]
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
Subsequent Event [Line Items]
Quarterly dividends declared per share (USD per share) | $ / shares	$ 0.86
Dividend increase percentage over dividend paid in prior quarter (as a percent)			6%

EATON SHAREHOLDERS' EQUITY - Ot

EATON SHAREHOLDERS' EQUITY - Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pre-tax
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	$ (205)	$ 735	$ 55
After-tax
Amounts reclassified from Accumulated other comprehensive loss (income)	82
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(313)	562	95
Currency translation and related hedging instruments
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	(632)	(335)	154
Reclassification from AOCI, pre-tax	0	369	37
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(632)	34	191
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	(647)	(339)	164
Amounts reclassified from Accumulated other comprehensive loss (income)	0	369	37
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(647)	30	201
Pensions and other postretirement benefits
Pre-tax
Reclassification from AOCI, pre-tax	116	183	221
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	226	654	(93)
After-tax
Amounts reclassified from Accumulated other comprehensive loss (income)	89	140	169
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	175	495	(73)
Prior service credit (cost) arising during the year
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	0	(1)	(1)
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	0	(1)	(1)
Net gain (loss) arising during the year
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	45	448	(263)
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	31	337	(203)
Currency translation
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	65	24	(48)
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	56	19	(37)
Other
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	0	0	(2)
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	0	0	(1)
Cash flow hedges
Pre-tax
Other comprehensive income (loss) arising during the year, before reclassifications, pre-tax	210	50	(60)
Reclassification from AOCI, pre-tax	(9)	(3)	17
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	201	47	(43)
After-tax
Other comprehensive income (loss) arising during the year, before reclassifications, after-tax	166	39	(47)
Amounts reclassified from Accumulated other comprehensive loss (income)	(7)	(2)	14
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	$ 159	$ 37	$ (33)

EATON SHAREHOLDERS' EQUITY - Ac

EATON SHAREHOLDERS' EQUITY - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 16,451	$ 14,973	$ 16,133
Other comprehensive (loss) income before reclassifications	(395)
Amounts reclassified from Accumulated other comprehensive loss (income)	82
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(313)	562	95
Balance at end of period	17,075	16,451	14,973
Currency translation and related hedging instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(2,617)
Other comprehensive (loss) income before reclassifications	(647)
Amounts reclassified from Accumulated other comprehensive loss (income)	0
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(647)
Balance at end of period	(3,264)	(2,617)
Pensions and other postretirement benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(986)
Other comprehensive (loss) income before reclassifications	86
Amounts reclassified from Accumulated other comprehensive loss (income)	89
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	175
Balance at end of period	(810)	(986)
Cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(30)
Other comprehensive (loss) income before reclassifications	166
Amounts reclassified from Accumulated other comprehensive loss (income)	(7)
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	159
Balance at end of period	129	(30)
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(3,633)	(4,195)	(4,290)
Balance at end of period	$ (3,946)	$ (3,633)	$ (4,195)

EATON SHAREHOLDERS' EQUITY - Re

EATON SHAREHOLDERS' EQUITY - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain on sale of businesses	$ 24	$ 617	$ 221
Income before income taxes	2,911	2,896	1,746
Income tax benefit (expense)	(445)	(750)	(331)
Total reclassifications for the period	2,462	$ 2,144	$ 1,410
Reclassification out of Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period	(82)
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	(116)
Income tax benefit (expense)	27
Total reclassifications for the period	(89)
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 (expense)	(2)
Total reclassifications for the period	7
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	9
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	(4)
Gains and (losses) on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Loss | Floating-to-fixed interest rate swaps
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	$ 4

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Net income attributable to Eaton ordinary shareholders	$ 2,462	$ 2,144	$ 1,410
Weighted-average number of ordinary shares outstanding - diluted (shares)	400.8	401.6	404
Less: dilutive effect of equity-based compensation (shares)	2.1	2.9	1.8
Weighted-average number of ordinary shares outstanding - basic (shares)	398.7	398.7	402.2
Net income per share attributable to Eaton ordinary shareholders - diluted (USD per share)	$ 6.14	$ 5.34	$ 3.49
Net income per share attributable to Eaton ordinary shareholders - basic (USD per share)	$ 6.17	$ 5.38	$ 3.51

EQUITY-BASED COMPENSATION - Nar

EQUITY-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (USD per share)	$ 156.95
Total compensation expense not yet recognized of stock options	$ 9
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	$ 78
Period for recognition of total compensation expense not yet recognized	2 years 8 months 12 days
Excess tax benefit	$ 5	$ 5	$ 2
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	$ 26
Period for recognition of total compensation expense not yet recognized	1 year 8 months 12 days
Excess tax benefit	$ 10	$ 6	$ 3
PSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)	0%
PSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)	200%
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 8 months 12 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, 2022 $ / shares shares
Number of restricted stock units and awards
Non-vested at beginning of period (shares) | shares	1.3
Granted (shares) | shares	0.5
Vested (shares) | shares	(0.7)
Forfeited (shares) | shares	(0.1)
Non-vested at end of period (shares) | shares	1
Weighted-average fair value per unit and award
Non-vested at beginning of period (USD per share) | $ / shares	$ 104.86
Granted (USD per share) | $ / shares	150.28
Vested (USD per share) | $ / shares	104.35
Forfeited (USD per share) | $ / shares	121.36
Non-vested at end of period (USD per share) | $ / shares	$ 127.33

EQUITY-BASED COMPENSATION - Inf

EQUITY-BASED COMPENSATION - Information Related to Equity Awards other than Options (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax expense for stock options	$ 65	$ 61	$ 58
After-tax expense for stock options	51	48	46
Fair value of vested equity awards	98	92	75
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax expense for stock options	21	26	25
After-tax expense for stock options	$ 17	$ 21	$ 20

EQUITY-BASED COMPENSATION - Ass

EQUITY-BASED COMPENSATION - Assumptions of Market-Based Performance Share Units (Details) - PSUs - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	35%	35%	21%
Risk-free interest rate (as a percent)	1.71%	0.20%	1.16%
Weighted-average fair value of PSUs granted (USD per share)	$ 171.63	$ 159.74	$ 121.01

EQUITY-BASED COMPENSATION - R_2

EQUITY-BASED COMPENSATION - Restricted Stock Units (Details) - PSUs - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent payout	178%	189%	178%
Shares vested (in shares)	400,000	500,000	400,000

EQUITY-BASED COMPENSATION - Mar

EQUITY-BASED COMPENSATION - Market-Based Performance Share Units (Details) - PSUs - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
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)	0.4
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)	0.3	0.4
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)	$ 139
Granted (USD per share)	171.63	$ 159.74	$ 121.01
Adjustment for performance results achieved (USD per share)	121.01
Vested (USD per share)	121.01
Forfeited (USD per share)	130.75
Non-vested at end of period (USD per share)	$ 141.88	$ 139

EQUITY-BASED COMPENSATION - Sto

EQUITY-BASED COMPENSATION - Stock Options Fair Value Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of stock options granted (USD per share)	$ 36.56	$ 26.11	$ 15.55
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	27%	28%	24%
Expected option life in years (in years)	6 years 7 months 6 days	6 years 6 months	6 years 7 months 6 days
Expected dividend yield (as a percent)	2%	3%	3.20%
Risk-free interest rate, minimum (as a percent)	0.30%	0%	0.50%
Risk-free interest rate, maximum (as a percent)	3%	1.50%	1.50%

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted-average exercise price per option
Balance at beginning of period (USD per share)	$ 85.34
Granted (USD per share)	151.55
Exercised (USD per share)	78.39
Forfeited and cancelled (USD per share)	121.79
Balance at end of period (USD per share)	91.15	$ 85.34
Exercisable at end of period (USD per share)	$ 79.14
Options
Outstanding at beginning of period (shares)	3.2
Granted (shares)	0.3
Exercised (shares)	(0.4)	(0.9)	(1.1)
Forfeited and cancelled (shares)	(0.1)
Outstanding at end of period (shares)	3	3.2
Exercisable at end of period (shares)	2.3
Reserved for future grants at end of period (shares)	21
Weighted-average remaining contractual life in years
Outstanding at end of period	5 years 10 months 24 days
Exercisable at end of period	4 years 10 months 24 days
Aggregate intrinsic value
Outstanding at end of period	$ 197.6
Exercisable at end of period	$ 177.2

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock options exercised	$ 28	$ 63	$ 71
Income tax benefit related to stock options exercised
Tax benefit classified in operating activities in the Consolidated Statements of Cash Flows	6	13	10
Intrinsic value of stock options exercised	29	69	50
Total fair value of stock options vested	$ 11	$ 14	$ 9
Stock options exercised (in shares)	0.4	0.9	1.1
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax expense for stock options	$ 11	$ 14	$ 9
After-tax expense for stock options	9	11	7
Proceeds from stock options exercised	$ 28	$ 63	$ 70

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets Measured on Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Summary of financial instruments recognized at fair value and fair value measurement used
Cash	$ 294	$ 297
Short-term investments	261	271
Net derivative contracts	29	41
Contingent future payments from acquisition of Green Motion (Note 2)	(44)	(57)
Quoted prices in active markets for identical assets (Level 1)
Summary of financial instruments recognized at fair value and fair value measurement used
Cash	294	297
Short-term investments	261	271
Net derivative contracts	0	0
Contingent future payments from acquisition of Green Motion (Note 2)	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	29	41
Contingent future payments from acquisition of Green Motion (Note 2)	0	0
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
Contingent future payments from acquisition of Green Motion (Note 2)	$ (44)	$ (57)

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Long-term debt and current portion of long term debt, carrying value	$ 8,331	$ 8,566
Long-term debt and current portion of long-term debt, fair value	$ 7,625	$ 9,232

FAIR VALUE MEASUREMENTS - Short

FAIR VALUE MEASUREMENTS - Short-Term Investments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Time deposits and certificates of deposit with banks	$ 248	$ 221
Money market investments	13	43
Investments in marketable equity securities	0	7
Total short-term investments	$ 261	$ 271

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Proportion of intercompany balance sheet exposure (as a percent)	100%
Cash flow hedge gain (loss) to be reclassified within the next twelve months	$ 19
Non-derivative net investment hedge
Derivative [Line Items]
Foreign currency note payable, noncurrent, after-tax	$ 2,711	$ 2,880

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Financial Instrument Recognized in the Consolidated Balance Sheet (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	$ 39	$ 41
Derivative asset not designated as hedging instrument		35
Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	2	69
Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	19	12
Derivative liability not designated as hedging instrument		10
Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	9	82
Derivatives designated as hedges | Fair value hedging | Fixed-to-floating interest rate swaps
Derivatives, Fair Value [Line Items]
Notional amount		1,800
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		22
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		29
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
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
Derivatives designated as hedges | Cash flow hedging | Forward starting floating-to-fixed interest rate swaps
Derivatives, Fair Value [Line Items]
Notional amount		1,350
Derivatives designated as hedges | Cash flow hedging | Forward starting floating-to-fixed interest rate swaps | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument		0
Derivatives designated as hedges | Cash flow hedging | Forward starting floating-to-fixed interest rate swaps | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument		38
Derivatives designated as hedges | Cash flow hedging | Forward starting floating-to-fixed interest rate swaps | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument		0
Derivatives designated as hedges | Cash flow hedging | Forward starting floating-to-fixed interest rate swaps | Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument		79
Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional amount	1,240	1,212
Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	35	17
Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	2	2
Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	17	11
Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts | Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	9	3
Derivatives designated as hedges | Cash flow hedging | Commodity contracts
Derivatives, Fair Value [Line Items]
Notional amount	64	50
Derivatives designated as hedges | Cash flow hedging | Commodity contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	4	2
Derivatives designated as hedges | Cash flow hedging | Commodity contracts | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	0	0
Derivatives designated as hedges | Cash flow hedging | Commodity contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	2	1
Derivatives designated as hedges | Cash flow hedging | 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	4,683	5,285
Derivatives not designated as hedges | Currency exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset not designated as hedging instrument	30	34
Derivatives not designated as hedges | Currency exchange contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability not designated as hedging instrument	$ 14	9
Derivatives not designated as hedges | Commodity contracts
Derivatives, Fair Value [Line Items]
Notional amount		$ 62
Derivative, remaining maturity		1 month
Derivatives not designated as hedges | Commodity contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset not designated as hedging instrument		$ 1
Derivatives not designated as hedges | Commodity contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability not designated as hedging instrument		$ 1
Minimum | Derivatives designated as hedges | Fair value hedging | Fixed-to-floating interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity		8 months
Minimum | Derivatives designated as hedges | Cash flow hedging | Forward starting floating-to-fixed interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity		11 years
Minimum | Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	1 month	1 month
Minimum | Derivatives designated as hedges | Cash flow hedging | 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		13 years
Maximum | Derivatives designated as hedges | Cash flow hedging | Forward starting floating-to-fixed interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity		31 years
Maximum | Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	36 months	36 months
Maximum | Derivatives designated as hedges | Cash flow hedging | Commodity contracts
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	12 months	12 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_5

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Volume of Outstanding Commodity Contracts (Details) - Commodity contracts	12 Months Ended
	Dec. 31, 2022 ozt lb
Aluminum
Derivative [Line Items]
Derivative, outstanding commodity contract | lb	4,000,000
Aluminum | Minimum
Derivative [Line Items]
Derivative, term of contract	1 month
Aluminum | Maximum
Derivative [Line Items]
Derivative, term of contract	12 months
Copper
Derivative [Line Items]
Derivative, outstanding commodity contract | lb	10,000,000
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	1,604
Gold | Minimum
Derivative [Line Items]
Derivative, term of contract	1 month
Gold | Maximum
Derivative [Line Items]
Derivative, term of contract	12 months
Silver
Derivative [Line Items]
Derivative, outstanding commodity contract | ozt	699,932
Silver | Minimum
Derivative [Line Items]
Derivative, term of contract	1 month
Silver | Maximum
Derivative [Line Items]
Derivative, term of contract	12 months

DERIVATIVE FINANCIAL INSTRUME_6

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, 2022	Dec. 31, 2021
Fixed-to-floating interest rate swaps
Derivative [Line Items]
Carrying amount of the hedged assets (liabilities)	$ (713)	$ (2,413)
Long-term debt
Derivative [Line Items]
Discontinued hedge, cumulative adjustment	48	33
Long-term debt | Fixed-to-floating interest rate swaps
Derivative [Line Items]
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged asset (liabilities)	$ (48)	$ (84)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Impact of Derivative on Consolidated Statement of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Net sales	$ 20,752	$ 19,628	$ 17,858
Cost of products sold	13,865	13,293	12,408
Interest expense - net	144	144	149
Cash flow hedging | Net sales | Forward starting floating-to-fixed interest rate swaps
Derivative [Line Items]
Gain (loss) on hedged item	0
Gain (loss) on hedging instrument	0
Cash flow hedging | Net sales | Currency exchange contracts
Derivative [Line Items]
Gain (loss) on hedged item	17	6	13
Gain (loss) on hedging instrument	(17)	(6)	(13)
Cash flow hedging | Net sales | Commodity contracts
Derivative [Line Items]
Gain (loss) on hedged item	0	0	0
Gain (loss) on hedging instrument	0	0	0
Cash flow hedging | Cost of products sold | Forward starting floating-to-fixed interest rate swaps
Derivative [Line Items]
Gain (loss) on hedged item	0
Gain (loss) on hedging instrument	0
Cash flow hedging | Cost of products sold | Currency exchange contracts
Derivative [Line Items]
Gain (loss) on hedged item	(26)	0	5
Gain (loss) on hedging instrument	26	0	(5)
Cash flow hedging | Cost of products sold | Commodity contracts
Derivative [Line Items]
Gain (loss) on hedged item	4	(9)	(1)
Gain (loss) on hedging instrument	(4)	9	1
Cash flow hedging | Interest expense - net | Forward starting floating-to-fixed interest rate swaps
Derivative [Line Items]
Gain (loss) on hedged item	(4)
Gain (loss) on hedging instrument	4
Cash flow hedging | Interest expense - net | Currency exchange contracts
Derivative [Line Items]
Gain (loss) on hedged item	0	0	0
Gain (loss) on hedging instrument	0	0	0
Cash flow hedging | Interest expense - net | Commodity contracts
Derivative [Line Items]
Gain (loss) on hedged item	0	0	0
Gain (loss) on hedging instrument	0	0	0
Fair value hedging | Net sales | Fixed-to-floating interest rate swaps
Derivative [Line Items]
Gain (loss) on hedged item	0	0	0
Gain (loss) on hedging instrument	0	0	0
Fair value hedging | Cost of products sold | Fixed-to-floating interest rate swaps
Derivative [Line Items]
Gain (loss) on hedged item	0	0	0
Gain (loss) on hedging instrument	0	0	0
Fair value hedging | Interest expense - net | Fixed-to-floating interest rate swaps
Derivative [Line Items]
Gain (loss) on hedged item	8	51	(45)
Gain (loss) on hedging instrument	$ (8)	$ (51)	$ 45

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES- Impact of Derivatives Not Designated as Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedges	$ (71)	$ 11	$ 76
Currency exchange contracts | Interest expense - net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedges	(56)	0	72
Commodity contracts | Other expense (income) - net and Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedges	$ (15)	$ 11	$ 4

DERIVATIVE FINANCIAL INSTRUME_9

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amounts recognized in accumulated other comprehensive income
Total, gain (loss) on derivative and net investment hedge recognized in other comprehensive (loss) income	$ 9	$ 3	$ (17)
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	171	240	(173)
Gain (loss) reclassified in accumulated other comprehensive (loss) income	0	0	0
Total | Cash flow hedging
Amounts recognized in accumulated other comprehensive income
Total, gain (loss) on derivative and net investment hedge recognized in other comprehensive (loss) income	381	290	(233)
Forward starting floating-to-fixed interest rate swaps | Interest expense - net | Cash flow hedging
Amounts recognized in accumulated other comprehensive income
Gain (loss) recognized in other comprehensive (loss) income	202	50	(52)
Gain (loss) reclassified from Accumulated other comprehensive loss	4	0	0
Currency exchange contracts | Net sales and Cost of products sold | Cash flow hedging
Amounts recognized in accumulated other comprehensive income
Gain (loss) recognized in other comprehensive (loss) income	13	(6)	(13)
Gain (loss) reclassified from Accumulated other comprehensive loss	9	(6)	(18)
Commodity contracts | Cost of products sold | Cash flow hedging
Amounts recognized in accumulated other comprehensive income
Gain (loss) recognized in other comprehensive (loss) income	(5)	6	5
Gain (loss) reclassified from Accumulated other comprehensive loss	$ (4)	$ 9	$ 1

RESTRUCTURING CHARGES - Narrati

RESTRUCTURING CHARGES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended			33 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Liability recognized	$ 33	$ 78	$ 214
COVID-19
Restructuring Cost and Reserve [Line Items]
Liability recognized				$ 325
Estimated charges	$ 350			$ 350

RESTRUCTURING CHARGES - Restruc

RESTRUCTURING CHARGES - Restructuring Program Charges (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Total before income taxes	$ 33	$ 78	$ 214
Income tax benefit	4	18	44
Total after income taxes	$ 29	$ 60	$ 170
Per ordinary share - diluted (USD per share)	$ 0.07	$ 0.15	$ 0.42
Workforce reductions
Restructuring Cost and Reserve [Line Items]
Total before income taxes	$ (13)	$ 21	$ 172
Plant closing and other
Restructuring Cost and Reserve [Line Items]
Total before income taxes	$ 47	$ 57	$ 42

RESTRUCTURING CHARGES - Restr_2

RESTRUCTURING CHARGES - Restructuring Program Charges Related to Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Liability recognized	$ 33	$ 78	$ 214
Operating segments | Electrical Americas
Restructuring Cost and Reserve [Line Items]
Liability recognized	17	14	18
Operating segments | Electrical Global
Restructuring Cost and Reserve [Line Items]
Liability recognized	14	18	55
Operating segments | Aerospace
Restructuring Cost and Reserve [Line Items]
Liability recognized	8	8	34
Operating segments | Vehicle
Restructuring Cost and Reserve [Line Items]
Liability recognized	(15)	21	102
Operating segments | eMobility
Restructuring Cost and Reserve [Line Items]
Liability recognized	1	1	1
Corporate
Restructuring Cost and Reserve [Line Items]
Liability recognized	$ 8	$ 16	$ 4

RESTRUCTURING CHARGES - Liabili

RESTRUCTURING CHARGES - Liabilities Related to Restructuring (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Reserve [Roll Forward]
Balance at beginning of period		$ 104	$ 142	$ 0
Liability recognized		33	78	214
Payments, utilization and translation		(96)	(116)	(72)
Balance at end of period	$ 41	41	104	142
Restructuring liability adjustment	30
Workforce reductions
Restructuring Reserve [Roll Forward]
Balance at beginning of period		96	139	0
Liability recognized		(13)	21	172
Payments, utilization and translation		(45)	(64)	(33)
Balance at end of period	38	38	96	139
Plant closing and other
Restructuring Reserve [Roll Forward]
Balance at beginning of period		8	3	0
Liability recognized		47	57	42
Payments, utilization and translation		(51)	(52)	(39)
Balance at end of period	$ 4	$ 4	$ 8	$ 3

BUSINESS SEGMENT AND GEOGRAPH_3

BUSINESS SEGMENT AND GEOGRAPHIC REGION INFORMATION - Business Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Segment Information
Net sales	$ 20,752	$ 19,628	$ 17,858
Intangible asset amortization expense	(483)
Interest expense - net	(144)	(144)	(149)
Pension and other postretirement benefits income (expense)	(54)	(53)	(210)
Restructuring charges	(33)	(78)	(214)
Income before income taxes	2,911	2,896	1,746
Income tax expense	445	750	331
Net income	2,465	2,146	1,415
Less net income for noncontrolling interests	(4)	(2)	(5)
Net income attributable to Eaton ordinary shareholders	2,462	2,144	1,410
Electrical Americas
Business Segment Information
Net sales	8,497	7,242	6,680
Electrical Global
Business Segment Information
Net sales	5,848	5,516	4,703
Hydraulics
Business Segment Information
Net sales	0	1,300	1,842
Aerospace
Business Segment Information
Net sales	3,039	2,648	2,223
Vehicle
Business Segment Information
Net sales	2,830	2,579	2,118
eMobility
Business Segment Information
Net sales	538	343	292
Operating segments
Business Segment Information
Net sales	20,752	19,628	17,858
Segment operating profit (loss)	4,196	3,706	2,937
Operating segments | Electrical Americas
Business Segment Information
Net sales	8,497	7,242	6,680
Segment operating profit (loss)	1,913	1,495	1,352
Restructuring charges	(17)	(14)	(18)
Operating segments | Electrical Global
Business Segment Information
Net sales	5,848	5,516	4,703
Segment operating profit (loss)	1,134	1,034	750
Restructuring charges	(14)	(18)	(55)
Operating segments | Hydraulics
Business Segment Information
Net sales	0	1,300	1,842
Segment operating profit (loss)	0	177	186
Operating segments | Aerospace
Business Segment Information
Net sales	3,039	2,648	2,223
Segment operating profit (loss)	705	580	414
Restructuring charges	(8)	(8)	(34)
Operating segments | Vehicle
Business Segment Information
Net sales	2,830	2,579	2,118
Segment operating profit (loss)	453	449	243
Restructuring charges	15	(21)	(102)
Operating segments | eMobility
Business Segment Information
Net sales	538	343	292
Segment operating profit (loss)	(9)	(29)	(8)
Restructuring charges	(1)	(1)	(1)
Corporate
Business Segment Information
Intangible asset amortization expense	(499)	(444)	(354)
Interest expense - net	(144)	(144)	(149)
Pension and other postretirement benefits income (expense)	43	65	(40)
Restructuring charges	(8)	(16)	(4)
Other expense - net	$ (653)	$ (209)	$ (434)

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total assets	$ 35,014	$ 34,027	$ 31,824
Goodwill	14,796	14,751	12,903
Other intangible assets	5,485	5,855	4,175
Capital expenditures for property, plant and equipment	598	575	389
Depreciation of property, plant and equipment	408	426	408
Operating segments
Segment Reporting Information [Line Items]
Total assets	10,804	9,515	8,160
Capital expenditures for property, plant and equipment	571	551	367
Depreciation of property, plant and equipment	364	374	352
Corporate
Segment Reporting Information [Line Items]
Total assets	3,929	3,906	4,099
Assets held for sale	0	0	2,487
Capital expenditures for property, plant and equipment	28	24	22
Depreciation of property, plant and equipment	44	52	56
Electrical Americas
Segment Reporting Information [Line Items]
Goodwill	7,402	7,417	6,456
Electrical Americas | Operating segments
Segment Reporting Information [Line Items]
Total assets	3,655	3,002	2,333
Capital expenditures for property, plant and equipment	181	180	95
Depreciation of property, plant and equipment	101	105	101
Electrical Global
Segment Reporting Information [Line Items]
Goodwill	3,929	4,183	4,295
Electrical Global | Operating segments
Segment Reporting Information [Line Items]
Total assets	2,658	2,579	2,334
Capital expenditures for property, plant and equipment	151	120	71
Depreciation of property, plant and equipment	94	97	94
Hydraulics | Operating segments
Segment Reporting Information [Line Items]
Capital expenditures for property, plant and equipment	0	34	41
Aerospace
Segment Reporting Information [Line Items]
Goodwill	2,844	2,781	1,777
Aerospace | Operating segments
Segment Reporting Information [Line Items]
Total assets	1,859	1,729	1,363
Capital expenditures for property, plant and equipment	92	78	59
Depreciation of property, plant and equipment	64	69	53
Vehicle
Segment Reporting Information [Line Items]
Goodwill	287	290	293
Vehicle | Operating segments
Segment Reporting Information [Line Items]
Total assets	2,230	1,985	1,950
Capital expenditures for property, plant and equipment	95	112	77
Depreciation of property, plant and equipment	89	95	98
eMobility
Segment Reporting Information [Line Items]
Goodwill	334	80	82
eMobility | Operating segments
Segment Reporting Information [Line Items]
Total assets	402	220	180
Capital expenditures for property, plant and equipment	52	27	24
Depreciation of property, plant and equipment	$ 16	$ 8	$ 6

BUSINESS SEGMENT AND GEOGRAPH_5

BUSINESS SEGMENT AND GEOGRAPHIC REGION INFORMATION - Geographic Region Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 20,752	$ 19,628	$ 17,858
Long-lived assets	3,146	3,064	2,964
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	12,353	10,868	10,044
Long-lived assets	1,567	1,593	1,510
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	754	797	757
Long-lived assets	25	25	25
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	1,504	1,160	939
Long-lived assets	383	277	249
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	3,957	4,276	3,818
Long-lived assets	711	701	738
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	2,185	2,527	2,300
Long-lived assets	$ 460	$ 468	$ 442