Eaton (ETN) 10-Q 31 Oct 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page shares in Millions	9 Months Ended
	Sep. 30, 2023 shares
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2023
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	399.3
Entity Central Index Key	0001551182
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net sales	$ 5,880	$ 5,313	$ 17,229	$ 15,368
Cost of products sold	3,684	3,545	11,030	10,319
Selling and administrative expense	949	813	2,839	2,431
Research and development expense	187	165	553	498
Interest expense - net	33	37	124	100
Gain on sale of business	0	0	0	24
Other expense (income) - net	(52)	34	(56)	(16)
Income before income taxes	1,079	720	2,739	2,060
Income tax expense	187	112	463	316
Net income	892	608	2,277	1,743
Less net income for noncontrolling interests	(1)	(1)	(4)	(2)
Net income attributable to Eaton ordinary shareholders	$ 891	$ 607	$ 2,273	$ 1,741
Net income per share attributable to Eaton ordinary shareholders
Diluted (USD per share)	$ 2.22	$ 1.52	$ 5.67	$ 4.34
Basic (USD per share)	$ 2.23	$ 1.52	$ 5.70	$ 4.36
Weighted-average number of ordinary shares outstanding
Diluted (in shares)	401.6	400.3	400.9	400.9
Basic (shares)	399.4	398.4	399	398.9
Cash dividends declared per ordinary share (USD per share)	$ 0.86	$ 0.81	$ 2.58	$ 2.43

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 892	$ 608	$ 2,277	$ 1,743
Less net income for noncontrolling interests	(1)	(1)	(4)	(2)
Net income attributable to Eaton ordinary shareholders	891	607	2,273	1,741
Other comprehensive income (loss), net of tax
Currency translation and related hedging instruments	(165)	(483)	11	(1,015)
Pensions and other postretirement benefits	18	(4)	14	32
Cash flow hedges	(21)	(36)	(7)	133
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(167)	(522)	18	(850)
Total comprehensive income attributable to Eaton ordinary shareholders	$ 724	$ 85	$ 2,291	$ 891

CONSOLIDATED BALANCE SHEETS

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

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares shares in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Ordinary shares outstanding (in shares)	399.3	397.8

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities
Net income	$ 2,277	$ 1,743
Adjustments to reconcile to net cash provided by operating activities
Depreciation and amortization	695	716
Deferred income taxes	(69)	(74)
Pension and other postretirement benefits expense	13	39
Contributions to pension plans	(83)	(80)
Contributions to other postretirement benefits plans	(15)	(18)
Gain on sale of business	0	(24)
Changes in working capital	(436)	(968)
Other - net	(56)	12
Net cash provided by operating activities	2,326	1,347
Investing activities
Capital expenditures for property, plant and equipment	(514)	(389)
Proceeds from sales of property, plant and equipment	54	166
Cash paid for acquisition of a business, net of cash acquired	0	(612)
Proceeds from (payments for) sale of business, net of cash sold	(2)	31
Investments in associate companies	(68)	(42)
Purchases of short-term investments - net	(1,304)	(45)
Proceeds from (payments for) settlement of currency exchange contracts not designated as hedges - net	61	(34)
Other - net	(9)	(58)
Net cash used in investing activities	(1,782)	(983)
Financing activities
Proceeds from borrowings	818	1,995
Payments on borrowings	(11)	(2,008)
Short-term debt, net	(295)	896
Cash dividends paid	(1,035)	(977)
Exercise of employee stock options	73	16
Repurchase of shares	0	(286)
Employee taxes paid from shares withheld	(49)	(60)
Other - net	(9)	(22)
Net cash used in financing activities	(507)	(445)
Effect of currency on cash	18	15
Total increase (decrease) in cash	54	(67)
Cash at the beginning of the period	294	297
Cash at the end of the period	$ 348	$ 231

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of Eaton Corporation plc (Eaton or the Company) have been prepared in accordance with generally accepted accounting principles for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by United States generally accepted accounting principles (US GAAP) for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring accruals) have been made that are necessary for a fair presentation of the condensed consolidated financial statements for the interim periods. This Form 10-Q should be read in conjunction with the consolidated financial statements and related notes included in Eaton’s 2022 Form 10-K. The interim period results are not necessarily indicative of the results to be expected for the full year. Management has evaluated subsequent events through the date this Form 10-Q was filed with the Securities and Exchange Commission. Adoption of New Accounting Standard Eaton adopted Accounting Standards Update 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, in the first quarter of 2023. The standard requires disclosure of certain information about the Company's supply chain finance program, including key terms and a rollforward of confirmed amounts payable. The adoption of the standard did not have a material impact on the condensed consolidated financial statements.

ACQUISITIONS AND DIVESTITURES O

ACQUISITIONS AND DIVESTITURES OF BUSINESSES	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS AND DIVESTITURES OF BUSINESSES	ACQUISITIONS AND DIVESTITURE OF BUSINESSES Sale of Hydraulics business On August 2, 2021, Eaton completed the sale of the Hydraulics business to Danfoss A/S and recognized a pre-tax gain of $617 million in 2021. The Company finalized negotiations of post-closing adjustments with Danfoss A/S and recognized an additional pre-tax gain of $24 million in the first quarter of 2022 and received cash of $22 million in the second quarter of 2022 from Danfoss A/S to fully settle all post-closing adjustments. 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. Eaton's 2022 Condensed Consolidated Financial Statements include Royal Power Solutions' results of operations, including segment operating profit of $17 million on sales of $120 million, from the date of acquisition through September 30, 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. Acquisition of a 49% stake in Jiangsu Ryan Electrical Co. Ltd. On April 23, 2023, Eaton acquired a 49 percent stake in Jiangsu Ryan Electrical Co. Ltd., a manufacturer of power distribution and sub-transmission transformers 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	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITIONSales 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 following table provides disaggregated sales by lines of businesses, geographic destination, market channel or end market, as applicable, for the Company's operating segments: Three months ended Nine months ended (In millions) 2023 2022 2023 2022 Electrical Americas Products $ 748 $ 737 $ 2,221 $ 2,034 Systems 1,846 1,442 5,205 4,167 Total $ 2,594 $ 2,179 $ 7,426 $ 6,201 Electrical Global Products $ 848 $ 855 $ 2,620 $ 2,609 Systems 655 631 1,952 1,809 Total $ 1,503 $ 1,486 $ 4,572 $ 4,418 Aerospace Original Equipment Manufacturers $ 342 $ 303 $ 980 $ 881 Aftermarket 302 256 863 719 Industrial and Other 223 209 674 628 Total $ 867 $ 768 $ 2,517 $ 2,227 Vehicle Commercial $ 452 $ 460 $ 1,359 $ 1,307 Passenger and Light Duty 301 284 884 816 Total $ 753 $ 744 $ 2,242 $ 2,123 eMobility $ 163 $ 137 $ 471 $ 399 Total net sales $ 5,880 $ 5,313 $ 17,229 $ 15,368 Changes in the deferred revenue liabilities are as follows: (In millions) Deferred Revenue Balance at January 1, 2023 $ 508 Customer deposits and billings 1,684 Revenue recognized in the period (1,563) Translation 1 Balance at September 30, 2023 $ 630 (In millions) Deferred Revenue Balance at January 1, 2022 $ 422 Customer deposits and billings 1,135 Revenue recognized in the period (1,086) Translation and other (42) Balance at September 30, 2022 $ 429 Deferred revenue liabilities of $610 million and $489 million as of September 30, 2023 and December 31, 2022, 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 September 30, 2023 was approximately $12.9 billion. At September 30, 2023, approximately 81% 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	9 Months Ended
	Sep. 30, 2023
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 $43 million and $31 million at September 30, 2023 and December 31, 2022, respectively. The change in the allowance for credit losses includes expense and net write-offs, none of which are significant.

INVENTORY

INVENTORY	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory is carried at lower of cost or net realizable value. The components of inventory are as follows: (In millions) September 30, December 31, Raw materials $ 1,471 $ 1,275 Work-in-process 901 781 Finished goods 1,341 1,375 Total inventory $ 3,713 $ 3,430

GOODWILL

GOODWILL	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Changes in the carrying amount of goodwill by segment are as follows: (In millions) January 1, 2023 Translation September 30, 2023 Electrical Americas $ 7,402 $ 2 $ 7,404 Electrical Global 3,929 (24) 3,905 Aerospace 2,844 8 2,851 Vehicle 287 — 287 eMobility 334 — 334 Total $ 14,796 $ (15) $ 14,781

SUPPLY CHAIN FINANCE PROGRAM

SUPPLY CHAIN FINANCE PROGRAM	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
SUPPLY CHAIN FINANCE PROGRAM	SUPPLY CHAIN FINANCE PROGRAM The Company negotiates payment terms directly with its suppliers for the purchase of goods and services. In addition, a third-party financial institution offers a voluntary supply chain finance (SCF) program that enables certain of the Company’s suppliers, at the supplier’s sole discretion, to sell receivables due from the Company to the financial institution on terms directly negotiated with the financial institution. If a supplier elects to participate in the SCF program, the supplier decides which invoices are sold to the financial institution and the Company has no economic interest in a supplier’s decision to sell an invoice. Payments by the Company to participating suppliers are paid to the financial institution on the invoice due date, regardless of whether an individual invoice is sold by the supplier to the financial institution. The amounts due to the financial institution for suppliers that participate in the SCF program are included in Accounts payable on the Consolidated Balance Sheets, and the associated payments are included in operating activities on the Condensed Consolidated Statements of Cash Flows. The changes in SCF obligations are as follows: (In millions) SCF Obligations Balance at January 1, 2023 $ 208 Invoices confirmed during the period 988 Invoices paid during the period (834) Translation 10 Balance at September 30, 2023 $ 372

DEBT

DEBT	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
DEBT	DEBT On October 2, 2023, 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 September 30, 2024. The Company also has a $2,500 million five-year revolving credit facility that will expire on October 1, 2027. 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. There were no borrowings outstanding under Eaton’s revolving credit facilities at September 30, 2023. The Company maintains access to the commercial paper markets through its $3,000 million commercial paper program, of which none was outstanding on September 30, 2023. On May 18, 2023, Eaton issued senior notes (2023 Notes) with a face amount of $500 million. The 2023 Notes mature in 2028 with interest payable semi-annually at a rate of 4.35% per annum. The issuer received proceeds totaling $497 million from the issuance, net of financing costs. The 2023 Notes are fully and unconditionally guaranteed on an unsubordinated, unsecured basis by Eaton and certain of its direct and indirect subsidiaries. The 2023 Notes contain customary optional redemption and par call provisions. The 2023 Notes also contain a provision which upon a change of control requires the Company to make an offer to purchase all or any part of the 2023 Notes at a purchase price of 101% of the principal amount plus accrued and unpaid interest. The 2023 Notes are subject to customary non-financial covenants. On March 3, 2023, a subsidiary of Eaton issued Euro denominated notes (2023 Euro Notes) in a private issuance with a face value of €300 million ($318 million). The floating rate notes are due June 3, 2024 with interest payable quarterly based on the three-month Euro Interbank Offered Rate plus 25 basis points. The 2023 Euro Notes are fully and unconditionally guaranteed on an unsubordinated, unsecured basis by Eaton. The 2023 Euro Notes contain a change of control provision which requires the Company to make an offer to purchase all or any part of the 2023 Euro Notes at a purchase price of 100.5% of the principal amount plus accrued and unpaid interest. The 2023 Euro Notes are subject to customary non-financial covenants.

RETIREMENT BENEFITS PLANS

RETIREMENT BENEFITS PLANS	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
RETIREMENT BENEFITS PLANS	RETIREMENT BENEFITS PLANS The components of retirement benefits expense (income) are as follows: United States Non-United States Other postretirement Three months ended September 30 (In millions) 2023 2022 2023 2022 2023 2022 Service cost $ 4 $ 6 $ 11 $ 15 $ — $ — Interest cost 35 32 22 12 3 2 Expected return on plan assets (48) (50) (31) (28) — — Amortization 1 2 1 11 (4) (1) (8) (10) 4 9 (1) — Settlements 9 18 1 — — — Total expense (income) $ 1 $ 8 $ 5 $ 10 $ (1) $ — United States Non-United States Other postretirement Nine months ended September 30 (In millions) 2023 2022 2023 2022 2023 2022 Service cost $ 14 $ 22 $ 32 $ 45 $ — $ 1 Interest cost 106 80 64 36 8 5 Expected return on plan assets (146) (155) (91) (88) — — Amortization 3 14 5 35 (13) (5) (23) (39) 11 27 (5) — Settlements 28 49 2 1 — — Total expense (income) $ 5 $ 10 $ 13 $ 29 $ (5) $ — The components of retirement benefits expense (income) other than service costs are included in Other expense (income) - net. 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.

LEGAL CONTINGENCIES

LEGAL CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
LEGAL CONTINGENCIES	LEGAL CONTINGENCIESEaton 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 Condensed Consolidated Financial Statements.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe effective income tax rate for the third quarter of 2023 was expense of 17.3% compared to expense of 15.5% for the third quarter of 2022. The effective income tax rate for the first nine months of 2023 was expense of 16.9% compared to expense of 15.4% for the first nine months of 2022. The increase in the effective tax rate in the third quarter and first nine months of 2023 was primarily due to greater levels of income in higher tax jurisdictions.

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
EQUITY	EQUITY The changes in Shareholders’ equity are as follows: Ordinary shares Capital in excess of par value Retained earnings Accumulated other comprehensive loss Shares held in trust Total Eaton shareholders' equity Noncontrolling interests Total equity (In millions) Shares Dollars Balance at January 1, 2023 397.8 $ 4 $ 12,512 $ 8,468 $ (3,946) $ (1) $ 17,038 $ 38 $ 17,075 Net income — — — 638 — — 638 1 639 Other comprehensive income, net of tax 132 132 132 Cash dividends paid and accrued — — — (348) — — (348) (4) (352) Issuance of shares under equity-based 0.7 — (11) (1) — 1 (11) — (11) Changes in noncontrolling interest of — — — — — — — 1 1 Balance at March 31, 2023 398.6 $ 4 $ 12,502 $ 8,757 $ (3,814) $ — $ 17,449 $ 36 $ 17,485 Net income — — — 744 — — 744 1 745 Other comprehensive income, net of tax 53 53 53 Cash dividends paid — — — (344) — — (344) — (344) Issuance of shares under equity-based 0.4 — 52 (1) — (1) 51 — 51 Changes in noncontrolling interest of — — — — — — — (1) (1) Balance at June 30, 2023 399.0 $ 4 $ 12,554 $ 9,156 $ (3,760) $ (1) $ 17,953 $ 36 $ 17,988 Net income — — — 891 — — 891 1 892 Other comprehensive loss, net of tax — — — — (167) — (167) — (167) Cash dividends paid — — — (343) — — (343) — (343) Issuance of shares under equity-based 0.4 — 51 (1) — — 50 — 50 Changes in noncontrolling interest of — — — — — — — (1) (1) Balance at September 30, 2023 399.3 $ 4 $ 12,604 $ 9,703 $ (3,927) $ (1) $ 18,383 $ 36 $ 18,420 Ordinary shares Capital in excess of par value Retained earnings Accumulated other comprehensive loss Shares held in trust Total Eaton shareholders' equity Noncontrolling interests Total equity (In millions) Shares Dollars Balance at January 1, 2022 398.8 $ 4 $ 12,449 $ 7,594 $ (3,633) $ (1) $ 16,413 $ 38 $ 16,451 Net income — — — 532 — — 532 1 533 Other comprehensive income, net of tax 116 116 116 Cash dividends paid and accrued — — — (331) — — (331) (2) (333) Issuance of shares under equity-based 0.8 — (22) (2) — — (24) — (24) Changes in noncontrolling interest of — — — — — — — (1) (1) Repurchase of shares (0.6) — — (86) — — (86) — (86) Balance at March 31, 2022 399.0 $ 4 $ 12,427 $ 7,707 $ (3,517) $ (1) $ 16,620 $ 36 $ 16,656 Net income — — — 601 — — 601 — 601 Other comprehensive loss, net of tax (444) (444) (444) Cash dividends paid — — — (323) — — (323) — (323) Issuance of shares under equity-based — — 26 1 — — 27 — 27 Changes in noncontrolling interest of — — (1) — — — (1) — (1) Repurchase of shares (0.7) — — (100) — — (100) — (100) Balance at June 30, 2022 398.3 $ 4 $ 12,452 $ 7,886 $ (3,961) $ (1) $ 16,380 $ 36 $ 16,416 Net income — — — 607 — — 607 1 608 Other comprehensive loss, net of tax — — — — (522) — (522) — (522) Cash dividends paid — — — (323) — — (323) — (323) Issuance of shares under equity-based 0.1 — 26 — — — 26 — 26 Changes in noncontrolling interest of — — — — — — — (2) (2) Repurchase of shares (0.7) — — (100) — — (100) — (100) Balance at September 30, 2022 397.7 $ 4 $ 12,478 $ 8,070 $ (4,483) $ (1) $ 16,068 $ 35 $ 16,103 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, 2023 $ (3,264) $ (810) $ 129 $ (3,946) Other comprehensive income (loss) before 21 (8) 37 50 Amounts reclassified from Accumulated other (10) 21 (44) (32) Net current-period Other comprehensive 11 14 (7) 18 Balance at September 30, 2023 $ (3,253) $ (796) $ 122 $ (3,927) The reclassifications out of Accumulated other comprehensive loss are as follows: (In millions) Nine months ended September 30, 2023 Consolidated Statements Gains and (losses) on net investment hedges (amount excluded Currency exchange contracts $ 10 Interest expense - net Tax expense — Total, net of tax 10 Amortization of defined benefits pensions and other Actuarial loss and prior service cost (25) 1 Tax benefit 4 Total, net of tax (21) Gains and (losses) on cash flow hedges Floating-to-fixed interest rate swaps 9 Interest expense - net Currency exchange contracts 45 Net sales and Cost of products sold Commodity contracts 1 Cost of products sold Tax expense (12) Total, net of tax 44 Total reclassifications for the period $ 32 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 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: Three months ended Nine months ended (In millions except for per share data) 2023 2022 2023 2022 Net income attributable to Eaton ordinary shareholders $ 891 $ 607 $ 2,273 $ 1,741 Weighted-average number of ordinary shares outstanding - diluted 401.6 400.3 400.9 400.9 Less dilutive effect of equity-based compensation 2.2 1.9 1.9 2.0 Weighted-average number of ordinary shares outstanding - basic 399.4 398.4 399.0 398.9 Net income per share attributable to Eaton ordinary shareholders Diluted $ 2.22 $ 1.52 $ 5.67 $ 4.34 Basic 2.23 1.52 5.70 4.36 For the third quarter of 2023, all stock options were included in the calculation of diluted net income per share attributable to Eaton ordinary shareholders because they were all dilutive. For the first nine months of 2023, 0.1 million stock options 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. For the third quarter and first nine months of 2022, 0.2 million and 0.1 million stock options, respectively, were excluded from the calculation of diluted net income per share attributable to Eaton ordinary shareholders because the exercise price of the options exceeded the average market price of the ordinary shares during the period and their effect, accordingly, would have been antidilutive.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2023
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 Level 1 Level 2 Level 3 September 30, 2023 Cash $ 348 $ 348 $ — $ — Short-term investments 1,558 1,558 — — Net derivative contracts 9 — 9 — Contingent future payments from acquisition of Green Motion (45) — — (45) December 31, 2022 Cash $ 294 $ 294 $ — $ — Short-term investments 261 261 — — Net derivative contracts 29 — 29 — Contingent future payments from acquisition of Green Motion (44) — — (44) 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. 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 $113 million. As of September 30, 2023, the fair value of the contingent future payments has been reduced to $45 million based primarily on anticipated reductions in projected 2023 revenue compared to the initial estimate. Other Fair Value Measurements Long-term debt and the current portion of long-term debt had a carrying value of $9,125 million and fair value of $8,252 million at September 30, 2023 compared to $8,331 million and $7,625 million, respectively, at December 31, 2022. 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.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2023
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 Condensed 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 currency exchange contracts and 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). The Company uses the spot rate method to assess hedge effectiveness when currency exchange contracts are used in net investment hedges. Under this method, changes in the spot exchange rate are recognized in Accumulated other comprehensive loss. Changes related to the forward rate are excluded from the hedging relationship and the forward points are amortized to Interest expense - net on a straight-line basis over the term of the contract. The cash flows resulting from these currency exchange contracts are classified in investing activities on the Condensed Consolidated Statements of Cash Flows. 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 September 30, 2023 Derivatives designated as hedges Forward starting floating-to-fixed interest rate swaps $ 53 $ — $ 1 $ — $ — Cash flow 8 years Currency exchange contracts 764 27 1 13 3 Cash flow 1 to 28 months Commodity contracts 58 — — 2 — Cash flow 1 to 12 months Currency exchange contracts 549 — — 2 — Net investment 3 months Total $ 27 $ 2 $ 17 $ 3 Derivatives not designated as hedges Currency exchange contracts $ 4,735 $ 11 $ 11 1 to 7 months 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 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 Condensed Consolidated Statements of Cash Flows. Foreign currency denominated debt designated as non-derivative net investment hedging instruments had a carrying value on an after-tax basis of $3,010 million at September 30, 2023 and $2,711 million at December 31, 2022. As of September 30, 2023, the volume of outstanding commodity contracts that were entered into to hedge forecasted transactions: Commodity September 30, 2023 Term Aluminum 4 Millions of pounds 1 to 11 months Copper 12 Millions of pounds 1 to 12 months Gold 1,662 Troy ounces 1 to 12 months Silver 166,422 Troy ounces 1 to 10 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 Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged asset (liabilities) (a) Location on Consolidated Balance Sheets September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Long-term debt $ (713) $ (713) $ (44) $ (48) (a) At September 30, 2023 and December 31, 2022, these amounts include the cumulative liability amount of fair value hedging adjustments remaining for which the hedge accounting has been discontinued of $44 million and $48 million, respectively. The impact of cash flow and fair value hedging activities to the Consolidated Statements of Income is as follows: Three months ended September 30, 2023 (In millions) Net Sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 5,880 $ 3,684 $ 33 Gain (loss) on derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Hedged item $ — $ — $ (3) Derivative designated as hedging instrument — — 3 Currency exchange contracts Hedged item $ (3) $ (16) $ — Derivative designated as hedging instrument 3 16 — Three months ended September 30, 2022 (In millions) Net Sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 5,313 $ 3,545 $ 37 Gain (loss) on derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Hedged item $ — $ — $ (1) Derivative designated as hedging instrument — — 1 Currency exchange contracts Hedged item $ 5 $ (6) $ — Derivative designated as hedging instrument (5) 6 — Commodity contracts Hedged item $ — $ 3 $ — Derivative designated as hedging instrument — (3) — Nine months ended September 30, 2023 (In millions) Net sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 17,229 $ 11,030 $ 124 Gain (loss) on derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Hedged item $ — $ — $ (9) Derivative designated as hedging instrument — — 9 Currency exchange contracts Hedged item $ (2) $ (46) $ — Derivative designated as hedging instrument 2 46 — Commodity contracts Hedged item $ — $ (1) $ — Derivative designated as hedging instrument — 1 — Nine months ended September 30, 2022 (In millions) Net sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 15,368 $ 10,319 $ 100 Gain (loss) on derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Hedged item $ — $ — $ (1) Derivative designated as hedging instrument — — 1 Currency exchange contracts Hedged item $ 10 $ (12) $ — Derivative designated as hedging instrument (10) 12 — Gain (loss) on derivatives designated as fair value hedges Fixed-to-floating interest rate swaps Hedged item $ — $ — $ 8 Derivative designated as hedging instrument — — (8) 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 Three months ended (In millions) 2023 2022 Gain (loss) on derivatives not designated as hedges Currency exchange contracts $ 14 $ (52) Interest expense - net Total $ 14 $ (52) Gain (loss) recognized in Consolidated Statements of Income Consolidated Statements of Income classification Nine months ended (In millions) 2023 2022 Gain (loss) on derivatives not designated as hedges Currency exchange contracts $ 31 $ (85) Interest expense - net Commodity contracts — (15) Other expense (income) - net and Cost of products sold (a) Total $ 31 $ (100) (a) In the second quarter of 2022, Eaton changed the presentation of gains and losses associated with derivative contracts for commodities that are not designated as hedges from Cost of products 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 Location of gain (loss) Gain (loss) reclassified Three months ended Three months ended (In millions) 2023 2022 2023 2022 Derivatives designated as Forward starting floating-to-fixed $ 1 $ (36) Interest expense - net $ 3 $ 1 Currency exchange contracts (2) (8) Net sales and Cost of products sold 20 (1) Commodity contracts (1) (3) Cost of products sold — (3) Derivatives designated as net Currency exchange contracts Effective portion 3 — Gain (loss) on sale of business — — Amount excluded from effectiveness 2 — Interest expense - net 4 — Non-derivative designated as net Foreign currency denominated debt 85 164 Gain (loss) on sale of business — — Total $ 87 $ 117 $ 27 $ (3) Gain (loss) recognized in Location of gain (loss) Gain (loss) reclassified Nine months ended Nine months ended (In millions) 2023 2022 2023 2022 Derivatives designated as cash Forward starting floating-to-fixed $ 2 $ 202 Interest expense - net $ 9 $ 1 Currency exchange contracts 47 (18) Net sales and Cost of products sold 45 3 Commodity contracts (2) (11) Cost of products sold 1 — Derivatives designated as net Currency exchange contracts Effective portion 21 — Gain (loss) on sale of business — — Amount excluded from effectiveness 11 — Interest expense - net 10 — Non-derivative designated as net Foreign currency denominated debt 19 405 Gain (loss) on sale of business — — Total $ 98 $ 577 $ 65 $ 4 The pre-tax portion of the fair value of currency exchange contracts designated as net investment hedges included in Accumulated other comprehensive loss were net gains of $21 million at September 30, 2023. The pre-tax portion of the fair value of the forward points included in Accumulated other comprehensive loss were net gains of $11 million at September 30, 2023. At September 30, 2023, a gain of $12 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	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES In the second quarter of 2020, Eaton initiated a multi-year restructuring program to reduce its cost structure and gain efficiencies in its business segments and at corporate in order to initially respond to declining market conditions brought on by the COVID-19 pandemic. Since the inception of the program, the Company has incurred charges of $371 million. These restructuring activities are expected to be completed in 2023 with total estimated charges of $380 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 is as follows: Three months ended Nine months ended (In millions except for per share data) 2023 2022 2023 2022 Workforce reductions $ — $ 5 $ 17 $ 11 Plant closing and other 7 17 29 38 Total before income taxes 7 22 46 49 Income tax benefit 1 4 9 10 Total after income taxes $ 5 $ 18 $ 37 $ 39 Per ordinary share - diluted $ 0.01 $ 0.04 $ 0.09 $ 0.10 Restructuring program charges related to the following segments: Three months ended Nine months ended (In millions) 2023 2022 2023 2022 Electrical Americas $ — $ 4 $ 4 $ 14 Electrical Global 5 8 22 14 Aerospace 1 2 4 6 Vehicle 1 2 4 8 eMobility — — 6 — Corporate — 5 6 7 Total $ 7 $ 22 $ 46 $ 49 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 Liability recognized, net 17 29 46 Payments (15) (27) (41) Balance at September 30, 2023 $ 40 $ 6 $ 46 1 The restructuring program liability was adjusted by $30 million in 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 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 16 for additional information about business segments.

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated on a regular basis by the chief operating decision maker, or decision making group, in deciding how to allocate resources to an individual segment and in assessing performance. Eaton's operating segments are Electrical Americas, Electrical Global, Aerospace, Vehicle, and eMobility. Operating profit includes the operating profit from intersegment sales. For additional information regarding Eaton's business segments, see Note 17 to the Consolidated Financial Statements contained in the 2022 Form 10-K. Three months ended Nine months ended (In millions) 2023 2022 2023 2022 Net sales Electrical Americas $ 2,594 $ 2,179 $ 7,426 $ 6,201 Electrical Global 1,503 1,486 4,572 4,418 Aerospace 867 768 2,517 2,227 Vehicle 753 744 2,242 2,123 eMobility 163 137 471 399 Total net sales $ 5,880 $ 5,313 $ 17,229 $ 15,368 Segment operating profit (loss) Electrical Americas $ 719 $ 511 $ 1,913 $ 1,368 Electrical Global 328 305 892 866 Aerospace 209 185 580 506 Vehicle 131 125 353 346 eMobility — (2) (5) (7) Total segment operating profit 1,386 1,124 3,732 3,079 Corporate Intangible asset amortization expense (107) (124) (344) (375) Interest expense - net (33) (37) (124) (100) Pension and other postretirement benefits income 11 7 33 35 Restructuring program charges (7) (22) (46) (49) Other expense - net (171) (227) (512) (529) Income before income taxes 1,079 720 2,739 2,060 Income tax expense 187 112 463 316 Net income 892 608 2,277 1,743 Less net income for noncontrolling interests (1) (1) (4) (2) Net income attributable to Eaton ordinary shareholders $ 891 $ 607 $ 2,273 $ 1,741

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of Eaton Corporation plc (Eaton or the Company) have been prepared in accordance with generally accepted accounting principles for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by United States generally accepted accounting principles (US GAAP) for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring accruals) have been made that are necessary for a fair presentation of the condensed consolidated financial statements for the interim periods. This Form 10-Q should be read in conjunction with the consolidated financial statements and related notes included in Eaton’s 2022 Form 10-K. The interim period results are not necessarily indicative of the results to be expected for the full year. Management has evaluated subsequent events through the date this Form 10-Q was filed with the Securities and Exchange Commission.
Adoption of New Accounting Standard	Adoption of New Accounting Standard Eaton adopted Accounting Standards Update 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, in the first quarter of 2023. The standard requires disclosure of certain information about the Company's supply chain finance program, including key terms and a rollforward of confirmed amounts payable. The adoption of the standard did not have a material impact on the condensed consolidated financial statements.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
	Sep. 30, 2023
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: Three months ended Nine months ended (In millions) 2023 2022 2023 2022 Electrical Americas Products $ 748 $ 737 $ 2,221 $ 2,034 Systems 1,846 1,442 5,205 4,167 Total $ 2,594 $ 2,179 $ 7,426 $ 6,201 Electrical Global Products $ 848 $ 855 $ 2,620 $ 2,609 Systems 655 631 1,952 1,809 Total $ 1,503 $ 1,486 $ 4,572 $ 4,418 Aerospace Original Equipment Manufacturers $ 342 $ 303 $ 980 $ 881 Aftermarket 302 256 863 719 Industrial and Other 223 209 674 628 Total $ 867 $ 768 $ 2,517 $ 2,227 Vehicle Commercial $ 452 $ 460 $ 1,359 $ 1,307 Passenger and Light Duty 301 284 884 816 Total $ 753 $ 744 $ 2,242 $ 2,123 eMobility $ 163 $ 137 $ 471 $ 399 Total net sales $ 5,880 $ 5,313 $ 17,229 $ 15,368
Schedule of Changes in Deferred Revenue Liabilities	Changes in the deferred revenue liabilities are as follows: (In millions) Deferred Revenue Balance at January 1, 2023 $ 508 Customer deposits and billings 1,684 Revenue recognized in the period (1,563) Translation 1 Balance at September 30, 2023 $ 630 (In millions) Deferred Revenue Balance at January 1, 2022 $ 422 Customer deposits and billings 1,135 Revenue recognized in the period (1,086) Translation and other (42) Balance at September 30, 2022 $ 429

INVENTORY (Tables)

INVENTORY (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Components of Inventory	The components of inventory are as follows: (In millions) September 30, December 31, Raw materials $ 1,471 $ 1,275 Work-in-process 901 781 Finished goods 1,341 1,375 Total inventory $ 3,713 $ 3,430

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 Translation September 30, 2023 Electrical Americas $ 7,402 $ 2 $ 7,404 Electrical Global 3,929 (24) 3,905 Aerospace 2,844 8 2,851 Vehicle 287 — 287 eMobility 334 — 334 Total $ 14,796 $ (15) $ 14,781

SUPPLY CHAIN FINANCE PROGRAM (T

SUPPLY CHAIN FINANCE PROGRAM (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of changes in SCF obligations	The changes in SCF obligations are as follows: (In millions) SCF Obligations Balance at January 1, 2023 $ 208 Invoices confirmed during the period 988 Invoices paid during the period (834) Translation 10 Balance at September 30, 2023 $ 372

RETIREMENT BENEFIT PLANS (Table

RETIREMENT BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Schedule of Benefits Expense (Income)	The components of retirement benefits expense (income) are as follows: United States Non-United States Other postretirement Three months ended September 30 (In millions) 2023 2022 2023 2022 2023 2022 Service cost $ 4 $ 6 $ 11 $ 15 $ — $ — Interest cost 35 32 22 12 3 2 Expected return on plan assets (48) (50) (31) (28) — — Amortization 1 2 1 11 (4) (1) (8) (10) 4 9 (1) — Settlements 9 18 1 — — — Total expense (income) $ 1 $ 8 $ 5 $ 10 $ (1) $ — United States Non-United States Other postretirement Nine months ended September 30 (In millions) 2023 2022 2023 2022 2023 2022 Service cost $ 14 $ 22 $ 32 $ 45 $ — $ 1 Interest cost 106 80 64 36 8 5 Expected return on plan assets (146) (155) (91) (88) — — Amortization 3 14 5 35 (13) (5) (23) (39) 11 27 (5) — Settlements 28 49 2 1 — — Total expense (income) $ 5 $ 10 $ 13 $ 29 $ (5) $ —

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of Changes in Stockholders Equity	The changes in Shareholders’ equity are as follows: Ordinary shares Capital in excess of par value Retained earnings Accumulated other comprehensive loss Shares held in trust Total Eaton shareholders' equity Noncontrolling interests Total equity (In millions) Shares Dollars Balance at January 1, 2023 397.8 $ 4 $ 12,512 $ 8,468 $ (3,946) $ (1) $ 17,038 $ 38 $ 17,075 Net income — — — 638 — — 638 1 639 Other comprehensive income, net of tax 132 132 132 Cash dividends paid and accrued — — — (348) — — (348) (4) (352) Issuance of shares under equity-based 0.7 — (11) (1) — 1 (11) — (11) Changes in noncontrolling interest of — — — — — — — 1 1 Balance at March 31, 2023 398.6 $ 4 $ 12,502 $ 8,757 $ (3,814) $ — $ 17,449 $ 36 $ 17,485 Net income — — — 744 — — 744 1 745 Other comprehensive income, net of tax 53 53 53 Cash dividends paid — — — (344) — — (344) — (344) Issuance of shares under equity-based 0.4 — 52 (1) — (1) 51 — 51 Changes in noncontrolling interest of — — — — — — — (1) (1) Balance at June 30, 2023 399.0 $ 4 $ 12,554 $ 9,156 $ (3,760) $ (1) $ 17,953 $ 36 $ 17,988 Net income — — — 891 — — 891 1 892 Other comprehensive loss, net of tax — — — — (167) — (167) — (167) Cash dividends paid — — — (343) — — (343) — (343) Issuance of shares under equity-based 0.4 — 51 (1) — — 50 — 50 Changes in noncontrolling interest of — — — — — — — (1) (1) Balance at September 30, 2023 399.3 $ 4 $ 12,604 $ 9,703 $ (3,927) $ (1) $ 18,383 $ 36 $ 18,420 Ordinary shares Capital in excess of par value Retained earnings Accumulated other comprehensive loss Shares held in trust Total Eaton shareholders' equity Noncontrolling interests Total equity (In millions) Shares Dollars Balance at January 1, 2022 398.8 $ 4 $ 12,449 $ 7,594 $ (3,633) $ (1) $ 16,413 $ 38 $ 16,451 Net income — — — 532 — — 532 1 533 Other comprehensive income, net of tax 116 116 116 Cash dividends paid and accrued — — — (331) — — (331) (2) (333) Issuance of shares under equity-based 0.8 — (22) (2) — — (24) — (24) Changes in noncontrolling interest of — — — — — — — (1) (1) Repurchase of shares (0.6) — — (86) — — (86) — (86) Balance at March 31, 2022 399.0 $ 4 $ 12,427 $ 7,707 $ (3,517) $ (1) $ 16,620 $ 36 $ 16,656 Net income — — — 601 — — 601 — 601 Other comprehensive loss, net of tax (444) (444) (444) Cash dividends paid — — — (323) — — (323) — (323) Issuance of shares under equity-based — — 26 1 — — 27 — 27 Changes in noncontrolling interest of — — (1) — — — (1) — (1) Repurchase of shares (0.7) — — (100) — — (100) — (100) Balance at June 30, 2022 398.3 $ 4 $ 12,452 $ 7,886 $ (3,961) $ (1) $ 16,380 $ 36 $ 16,416 Net income — — — 607 — — 607 1 608 Other comprehensive loss, net of tax — — — — (522) — (522) — (522) Cash dividends paid — — — (323) — — (323) — (323) Issuance of shares under equity-based 0.1 — 26 — — — 26 — 26 Changes in noncontrolling interest of — — — — — — — (2) (2) Repurchase of shares (0.7) — — (100) — — (100) — (100) Balance at September 30, 2022 397.7 $ 4 $ 12,478 $ 8,070 $ (4,483) $ (1) $ 16,068 $ 35 $ 16,103
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, 2023 $ (3,264) $ (810) $ 129 $ (3,946) Other comprehensive income (loss) before 21 (8) 37 50 Amounts reclassified from Accumulated other (10) 21 (44) (32) Net current-period Other comprehensive 11 14 (7) 18 Balance at September 30, 2023 $ (3,253) $ (796) $ 122 $ (3,927)
Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The reclassifications out of Accumulated other comprehensive loss are as follows: (In millions) Nine months ended September 30, 2023 Consolidated Statements Gains and (losses) on net investment hedges (amount excluded Currency exchange contracts $ 10 Interest expense - net Tax expense — Total, net of tax 10 Amortization of defined benefits pensions and other Actuarial loss and prior service cost (25) 1 Tax benefit 4 Total, net of tax (21) Gains and (losses) on cash flow hedges Floating-to-fixed interest rate swaps 9 Interest expense - net Currency exchange contracts 45 Net sales and Cost of products sold Commodity contracts 1 Cost of products sold Tax expense (12) Total, net of tax 44 Total reclassifications for the period $ 32 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 pension and other postretirement benefits items.
Schedule of Net Income per Ordinary Share Attributable to Shareholders	A summary of the calculation of net income per share attributable to Eaton ordinary shareholders is as follows: Three months ended Nine months ended (In millions except for per share data) 2023 2022 2023 2022 Net income attributable to Eaton ordinary shareholders $ 891 $ 607 $ 2,273 $ 1,741 Weighted-average number of ordinary shares outstanding - diluted 401.6 400.3 400.9 400.9 Less dilutive effect of equity-based compensation 2.2 1.9 1.9 2.0 Weighted-average number of ordinary shares outstanding - basic 399.4 398.4 399.0 398.9 Net income per share attributable to Eaton ordinary shareholders Diluted $ 2.22 $ 1.52 $ 5.67 $ 4.34 Basic 2.23 1.52 5.70 4.36

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
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 Level 1 Level 2 Level 3 September 30, 2023 Cash $ 348 $ 348 $ — $ — Short-term investments 1,558 1,558 — — Net derivative contracts 9 — 9 — Contingent future payments from acquisition of Green Motion (45) — — (45) December 31, 2022 Cash $ 294 $ 294 $ — $ — Short-term investments 261 261 — — Net derivative contracts 29 — 29 — Contingent future payments from acquisition of Green Motion (44) — — (44)

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 Derivatives designated as hedges Forward starting floating-to-fixed interest rate swaps $ 53 $ — $ 1 $ — $ — Cash flow 8 years Currency exchange contracts 764 27 1 13 3 Cash flow 1 to 28 months Commodity contracts 58 — — 2 — Cash flow 1 to 12 months Currency exchange contracts 549 — — 2 — Net investment 3 months Total $ 27 $ 2 $ 17 $ 3 Derivatives not designated as hedges Currency exchange contracts $ 4,735 $ 11 $ 11 1 to 7 months 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
Schedule of Notional Amounts of Outstanding Derivative Positions and Commodity Contracts	As of September 30, 2023, the volume of outstanding commodity contracts that were entered into to hedge forecasted transactions: Commodity September 30, 2023 Term Aluminum 4 Millions of pounds 1 to 11 months Copper 12 Millions of pounds 1 to 12 months Gold 1,662 Troy ounces 1 to 12 months Silver 166,422 Troy ounces 1 to 10 months
Schedule Of Derivative Instruments Recorded In Balance Sheet	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 Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged asset (liabilities) (a) Location on Consolidated Balance Sheets September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Long-term debt $ (713) $ (713) $ (44) $ (48) (a) At September 30, 2023 and December 31, 2022, these amounts include the cumulative liability amount of fair value hedging adjustments remaining for which the hedge accounting has been discontinued of $44 million and $48 million, respectively.
Schedule of Impact of Hedging Activities to Consolidated Statement of Income	The impact of cash flow and fair value hedging activities to the Consolidated Statements of Income is as follows: Three months ended September 30, 2023 (In millions) Net Sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 5,880 $ 3,684 $ 33 Gain (loss) on derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Hedged item $ — $ — $ (3) Derivative designated as hedging instrument — — 3 Currency exchange contracts Hedged item $ (3) $ (16) $ — Derivative designated as hedging instrument 3 16 — Three months ended September 30, 2022 (In millions) Net Sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 5,313 $ 3,545 $ 37 Gain (loss) on derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Hedged item $ — $ — $ (1) Derivative designated as hedging instrument — — 1 Currency exchange contracts Hedged item $ 5 $ (6) $ — Derivative designated as hedging instrument (5) 6 — Commodity contracts Hedged item $ — $ 3 $ — Derivative designated as hedging instrument — (3) — Nine months ended September 30, 2023 (In millions) Net sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 17,229 $ 11,030 $ 124 Gain (loss) on derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Hedged item $ — $ — $ (9) Derivative designated as hedging instrument — — 9 Currency exchange contracts Hedged item $ (2) $ (46) $ — Derivative designated as hedging instrument 2 46 — Commodity contracts Hedged item $ — $ (1) $ — Derivative designated as hedging instrument — 1 — Nine months ended September 30, 2022 (In millions) Net sales Cost of products sold Interest expense - net Amounts from Consolidated Statements of Income $ 15,368 $ 10,319 $ 100 Gain (loss) on derivatives designated as cash flow hedges Forward starting floating-to-fixed interest rate swaps Hedged item $ — $ — $ (1) Derivative designated as hedging instrument — — 1 Currency exchange contracts Hedged item $ 10 $ (12) $ — Derivative designated as hedging instrument (10) 12 — Gain (loss) on derivatives designated as fair value hedges Fixed-to-floating interest rate swaps Hedged item $ — $ — $ 8 Derivative designated as hedging instrument — — (8)
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 Three months ended (In millions) 2023 2022 Gain (loss) on derivatives not designated as hedges Currency exchange contracts $ 14 $ (52) Interest expense - net Total $ 14 $ (52) Gain (loss) recognized in Consolidated Statements of Income Consolidated Statements of Income classification Nine months ended (In millions) 2023 2022 Gain (loss) on derivatives not designated as hedges Currency exchange contracts $ 31 $ (85) Interest expense - net Commodity contracts — (15) Other expense (income) - net and Cost of products sold (a) Total $ 31 $ (100) (a) In the second quarter of 2022, Eaton changed the presentation of gains and losses associated with derivative contracts for commodities that are not designated as hedges from Cost of products sold to Other expense (income) - net on the Consolidated Statements of Income. Prior period amounts have not been reclassified as they are not material.
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 Location of gain (loss) Gain (loss) reclassified Three months ended Three months ended (In millions) 2023 2022 2023 2022 Derivatives designated as Forward starting floating-to-fixed $ 1 $ (36) Interest expense - net $ 3 $ 1 Currency exchange contracts (2) (8) Net sales and Cost of products sold 20 (1) Commodity contracts (1) (3) Cost of products sold — (3) Derivatives designated as net Currency exchange contracts Effective portion 3 — Gain (loss) on sale of business — — Amount excluded from effectiveness 2 — Interest expense - net 4 — Non-derivative designated as net Foreign currency denominated debt 85 164 Gain (loss) on sale of business — — Total $ 87 $ 117 $ 27 $ (3) Gain (loss) recognized in Location of gain (loss) Gain (loss) reclassified Nine months ended Nine months ended (In millions) 2023 2022 2023 2022 Derivatives designated as cash Forward starting floating-to-fixed $ 2 $ 202 Interest expense - net $ 9 $ 1 Currency exchange contracts 47 (18) Net sales and Cost of products sold 45 3 Commodity contracts (2) (11) Cost of products sold 1 — Derivatives designated as net Currency exchange contracts Effective portion 21 — Gain (loss) on sale of business — — Amount excluded from effectiveness 11 — Interest expense - net 10 — Non-derivative designated as net Foreign currency denominated debt 19 405 Gain (loss) on sale of business — — Total $ 98 $ 577 $ 65 $ 4

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Program Charges	A summary of restructuring program charges is as follows: Three months ended Nine months ended (In millions except for per share data) 2023 2022 2023 2022 Workforce reductions $ — $ 5 $ 17 $ 11 Plant closing and other 7 17 29 38 Total before income taxes 7 22 46 49 Income tax benefit 1 4 9 10 Total after income taxes $ 5 $ 18 $ 37 $ 39 Per ordinary share - diluted $ 0.01 $ 0.04 $ 0.09 $ 0.10 Restructuring program charges related to the following segments: Three months ended Nine months ended (In millions) 2023 2022 2023 2022 Electrical Americas $ — $ 4 $ 4 $ 14 Electrical Global 5 8 22 14 Aerospace 1 2 4 6 Vehicle 1 2 4 8 eMobility — — 6 — Corporate — 5 6 7 Total $ 7 $ 22 $ 46 $ 49
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 Liability recognized, net 17 29 46 Payments (15) (27) (41) Balance at September 30, 2023 $ 40 $ 6 $ 46 1 The restructuring program liability was adjusted by $30 million in 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 INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Business Segment Information	Three months ended Nine months ended (In millions) 2023 2022 2023 2022 Net sales Electrical Americas $ 2,594 $ 2,179 $ 7,426 $ 6,201 Electrical Global 1,503 1,486 4,572 4,418 Aerospace 867 768 2,517 2,227 Vehicle 753 744 2,242 2,123 eMobility 163 137 471 399 Total net sales $ 5,880 $ 5,313 $ 17,229 $ 15,368 Segment operating profit (loss) Electrical Americas $ 719 $ 511 $ 1,913 $ 1,368 Electrical Global 328 305 892 866 Aerospace 209 185 580 506 Vehicle 131 125 353 346 eMobility — (2) (5) (7) Total segment operating profit 1,386 1,124 3,732 3,079 Corporate Intangible asset amortization expense (107) (124) (344) (375) Interest expense - net (33) (37) (124) (100) Pension and other postretirement benefits income 11 7 33 35 Restructuring program charges (7) (22) (46) (49) Other expense - net (171) (227) (512) (529) Income before income taxes 1,079 720 2,739 2,060 Income tax expense 187 112 463 316 Net income 892 608 2,277 1,743 Less net income for noncontrolling interests (1) (1) (4) (2) Net income attributable to Eaton ordinary shareholders $ 891 $ 607 $ 2,273 $ 1,741

ACQUISITIONS AND DIVESTITURES_2

ACQUISITIONS AND DIVESTITURES OF BUSINESSES - Narrative (Details) - USD ($) $ in Millions			3 Months Ended				9 Months Ended
	Jan. 05, 2022	Aug. 02, 2021	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Apr. 23, 2023	Jul. 01, 2022
Business Acquisition [Line Items]
Cash purchase price, net of cash received							$ 0	$ 612
Other expense (income) - net			$ (52)	$ 34			$ (56)	(16)
War With Russia And Ukraine
Business Acquisition [Line Items]
Other expense (income) - net					$ 29
Held-for-sale | Hydraulics Business
Business Acquisition [Line Items]
Consideration received, net of cash sold					$ 22
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Hydraulics Business
Business Acquisition [Line Items]
Pre-tax gain (loss) on disposal		$ 617				$ 24
Royal Power Solutions
Business Acquisition [Line Items]
Cash purchase price, net of cash received	$ 610
Operating profit of acquiree since acquisition date								17
Revenue of acquiree since acquisition date								$ 120
Jiangsu Huineng Electric Co. Ltd.
Business Acquisition [Line Items]
Ownership interest acquired (as a percent)										50%
Jiangsu Ryan Electrical Co. Ltd.
Business Acquisition [Line Items]
Ownership interest acquired (as a percent)									49%

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Sales (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Net Sales	$ 5,880	$ 5,313	$ 17,229	$ 15,368
Electrical Americas
Disaggregation of Revenue [Line Items]
Net Sales	2,594	2,179	7,426	6,201
Electrical Global
Disaggregation of Revenue [Line Items]
Net Sales	1,503	1,486	4,572	4,418
Aerospace
Disaggregation of Revenue [Line Items]
Net Sales	867	768	2,517	2,227
Aerospace | Original Equipment Manufacturers
Disaggregation of Revenue [Line Items]
Net Sales	342	303	980	881
Aerospace | Aftermarket
Disaggregation of Revenue [Line Items]
Net Sales	302	256	863	719
Aerospace | Industrial and Other
Disaggregation of Revenue [Line Items]
Net Sales	223	209	674	628
Vehicle
Disaggregation of Revenue [Line Items]
Net Sales	753	744	2,242	2,123
eMobility
Disaggregation of Revenue [Line Items]
Net Sales	163	137	471	399
Products | Electrical Americas
Disaggregation of Revenue [Line Items]
Net Sales	748	737	2,221	2,034
Products | Electrical Global
Disaggregation of Revenue [Line Items]
Net Sales	848	855	2,620	2,609
Systems | Electrical Americas
Disaggregation of Revenue [Line Items]
Net Sales	1,846	1,442	5,205	4,167
Systems | Electrical Global
Disaggregation of Revenue [Line Items]
Net Sales	655	631	1,952	1,809
Commercial | Vehicle
Disaggregation of Revenue [Line Items]
Net Sales	452	460	1,359	1,307
Passenger and Light Duty | Vehicle
Disaggregation of Revenue [Line Items]
Net Sales	$ 301	$ 284	$ 884	$ 816

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Accounts receivables from customers	$ 3,983	$ 3,581
Unbilled receivables	313	233
Deferred revenue liabilities, included in other current liabilities	610	$ 489
Backlog of unsatisfied or partially satisfied obligations	$ 12,900
Backlog expected to be recognized in the next twelve months, percent	81%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction	12 months

REVENUE RECOGNITION - Changes i

REVENUE RECOGNITION - Changes in Deferred Revenue Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Movement in Deferred Revenue [Roll Forward]
Balance at beginning of period	$ 508	$ 422
Customer deposits and billings	1,684	1,135
Revenue recognized in the period	(1,563)	(1,086)
Translation and other	1	(42)
Balance at end of period	$ 630	$ 429

CREDIT LOSSES FOR RECEIVABLES -

CREDIT LOSSES FOR RECEIVABLES - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Credit Loss [Abstract]
Allowance for credit losses	$ 43	$ 31

INVENTORY - Summary (Details)

INVENTORY - Summary (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 1,471	$ 1,275
Work-in-process	901	781
Finished goods	1,341	1,375
Total inventory	$ 3,713	$ 3,430

GOODWILL (Details)

GOODWILL (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 14,796
Translation	(15)
Balance at end of period	14,781
Electrical Americas
Goodwill [Roll Forward]
Balance at beginning of period	7,402
Translation	2
Balance at end of period	7,404
Electrical Global
Goodwill [Roll Forward]
Balance at beginning of period	3,929
Translation	(24)
Balance at end of period	3,905
Aerospace
Goodwill [Roll Forward]
Balance at beginning of period	2,844
Translation	8
Balance at end of period	2,851
Vehicle
Goodwill [Roll Forward]
Balance at beginning of period	287
Translation	0
Balance at end of period	287
eMobility
Goodwill [Roll Forward]
Balance at beginning of period	334
Translation	0
Balance at end of period	$ 334

SUPPLY CHAIN FINANCE PROGRAM (D

SUPPLY CHAIN FINANCE PROGRAM (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Supplier Finance Program, Obligation [Roll Forward]
Balance at beginning period	$ 208
Invoices confirmed during the period	988
Invoices paid during the period	(834)
Translation	10
Balance at ending period	$ 372

DEBT (Details)

DEBT (Details)			9 Months Ended
	May 18, 2023 USD ($)	Mar. 03, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Oct. 02, 2023 USD ($)	Mar. 03, 2023 EUR (€)
Debt Instrument [Line Items]
Proceeds from borrowings			$ 818,000,000	$ 1,995,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings outstanding			0
364 Day Credit Facility Expiring On October 2, 2023 | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity					$ 500,000,000
Long-term debt, term					364 days
364 Day Credit Facility Expiring On September 30, 2024 | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity					$ 500,000,000
Long-term debt, term					364 days
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
Commercial Paper | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 3,000,000,000
Borrowings outstanding			$ 0
Commercial Paper | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity					$ 3,000,000,000
2023 Notes | Senior notes
Debt Instrument [Line Items]
Face value of debt instrument	$ 500,000,000
Debt instrument, stated interest rate (as a percent)	4.35%
Proceeds from borrowings	$ 497,000,000
Redemption price (as a percent)	101%
2023 Euro Notes | Senior notes
Debt Instrument [Line Items]
Face value of debt instrument		$ 318,000,000				€ 300,000,000
Redemption price (as a percent)		100.50%
2023 Euro Notes | Senior notes | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.25%

RETIREMENT BENEFIT PLANS - Reti

RETIREMENT BENEFIT PLANS - Retirement Benefits Expense (Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pension plans | UNITED STATES
Retirement benefits plans expense (income)
Service cost	$ 4	$ 6	$ 14	$ 22
Interest cost	35	32	106	80
Expected return on plan assets	(48)	(50)	(146)	(155)
Amortization	1	2	3	14
Total	(8)	(10)	(23)	(39)
Settlements	9	18	28	49
Total expense (income)	1	8	5	10
Pension plans | Foreign Plan
Retirement benefits plans expense (income)
Service cost	11	15	32	45
Interest cost	22	12	64	36
Expected return on plan assets	(31)	(28)	(91)	(88)
Amortization	1	11	5	35
Total	4	9	11	27
Settlements	1	0	2	1
Total expense (income)	5	10	13	29
Postretirement plan
Retirement benefits plans expense (income)
Service cost	0	0	0	1
Interest cost	3	2	8	5
Expected return on plan assets	0	0	0	0
Amortization	(4)	(1)	(13)	(5)
Total	(1)	0	(5)	0
Settlements	0	0	0	0
Total expense (income)	$ (1)	$ 0	$ (5)	$ 0

RETIREMENT BENEFITS PLANS - Nar

RETIREMENT BENEFITS PLANS - Narrative (Details) - Pension plans - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Settlement loss	$ 10	$ 18	$ 30	$ 50
Decrease in funded status		88		178
Increase in accumulated other comprehensive loss		$ 88		$ 178

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax (benefit) expense rate (as a percent)	17.30%	15.50%	16.90%	15.40%

EQUITY - Changes in Shareholder

EQUITY - Changes in Shareholders' Equity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	$ 17,988	$ 17,485	$ 17,075	$ 16,416	$ 16,656	$ 16,451	$ 17,075	$ 16,451
Net income	892	745	639	608	601	533	2,277	1,743
Other comprehensive income (loss), net of tax	(167)	53	132	(522)	(444)	116	18	(850)
Cash dividends paid and accrued	(343)	(344)	(352)	(323)	(323)	(333)
Issuance of shares under equity-based compensation plans	50	51	(11)	26	27	(24)
Changes in noncontrolling interest of consolidated subsidiaries - net	(1)	(1)	1	(2)	(1)	(1)
Repurchase of shares				(100)	(100)	(86)
Balance at end of period	18,420	17,988	17,485	16,103	16,416	16,656	18,420	16,103
Total Eaton shareholders' equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	17,953	17,449	17,038	16,380	16,620	16,413	17,038	16,413
Net income	891	744	638	607	601	532
Other comprehensive income (loss), net of tax	(167)	53	132	(522)	(444)	116
Cash dividends paid and accrued	(343)	(344)	(348)	(323)	(323)	(331)
Issuance of shares under equity-based compensation plans	50	51	(11)	26	27	(24)
Changes in noncontrolling interest of consolidated subsidiaries - net					(1)
Repurchase of shares				(100)	(100)	(86)
Balance at end of period	$ 18,383	$ 17,953	$ 17,449	$ 16,068	$ 16,380	$ 16,620	$ 18,383	$ 16,068
Ordinary shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period (shares)	399	398.6	397.8	398.3	399	398.8	397.8	398.8
Balance at beginning of period	$ 4	$ 4	$ 4	$ 4	$ 4	$ 4	$ 4	$ 4
Issuance of shares under equity-based compensation plans (shares)	0.4	0.4	0.7	0.1		0.8
Repurchase of shares (shares)				(0.7)	(0.7)	(0.6)
Balance at end of period (shares)	399.3	399	398.6	397.7	398.3	399	399.3	397.7
Balance at end of period	$ 4	$ 4	$ 4	$ 4	$ 4	$ 4	$ 4	$ 4
Capital in excess of par value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	12,554	12,502	12,512	12,452	12,427	12,449	12,512	12,449
Issuance of shares under equity-based compensation plans	51	52	(11)	26	26	(22)
Changes in noncontrolling interest of consolidated subsidiaries - net					(1)
Balance at end of period	12,604	12,554	12,502	12,478	12,452	12,427	12,604	12,478
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	9,156	8,757	8,468	7,886	7,707	7,594	8,468	7,594
Net income	891	744	638	607	601	532
Cash dividends paid and accrued	(343)	(344)	(348)	(323)	(323)	(331)
Issuance of shares under equity-based compensation plans	(1)	(1)	(1)		1	(2)
Repurchase of shares				(100)	(100)	(86)
Balance at end of period	9,703	9,156	8,757	8,070	7,886	7,707	9,703	8,070
AOCI Attributable to Parent
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	(3,760)	(3,814)	(3,946)	(3,961)	(3,517)	(3,633)	(3,946)	(3,633)
Other comprehensive income (loss), net of tax	(167)	53	132	(522)	(444)	116
Balance at end of period	(3,927)	(3,760)	(3,814)	(4,483)	(3,961)	(3,517)	(3,927)	(4,483)
Shares held in trust
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	(1)	0	(1)	(1)	(1)	(1)	(1)	(1)
Issuance of shares under equity-based compensation plans		(1)	1
Balance at end of period	(1)	(1)	0	(1)	(1)	(1)	(1)	(1)
Noncontrolling interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	36	36	38	36	36	38	38	38
Net income	1	1	1	1		1
Cash dividends paid and accrued			(4)			(2)
Changes in noncontrolling interest of consolidated subsidiaries - net	(1)	(1)	1	(2)		(1)
Balance at end of period	$ 36	$ 36	$ 36	$ 35	$ 36	$ 36	$ 36	$ 35

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($) shares in Millions		3 Months Ended	9 Months Ended
	Feb. 23, 2022	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Feb. 27, 2019
Class of Stock [Line Items]
Antidilutive securities excluded from computation of net income per ordinary share (shares)		0.2	0.1	0.1
2019 Program
Class of Stock [Line Items]
Share repurchase program, authorized amount					$ 5,000,000,000
2022 Program
Class of Stock [Line Items]
Share repurchase program, authorized amount	$ 5,000,000,000
Stock repurchase program, period in force	3 years
Ordinary shares purchased (shares)		0.7		2
Stock repurchased (shares)		$ 100,000,000		$ 286,000,000

EQUITY - Changes in Accumulated

EQUITY - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 17,988	$ 17,485	$ 17,075	$ 16,416	$ 16,656	$ 16,451	$ 17,075	$ 16,451
Other comprehensive income (loss) before reclassifications							50
Amounts reclassified from Accumulated other comprehensive loss (income)							(32)
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	(167)	53	132	(522)	(444)	116	18	(850)
Balance at end of period	18,420	$ 17,988	17,485	$ 16,103	$ 16,416	$ 16,656	18,420	$ 16,103
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(3,946)				(3,946)
Balance at end of period	(3,927)						(3,927)
Currency translation and related hedging instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(3,264)				(3,264)
Other comprehensive income (loss) before reclassifications							21
Amounts reclassified from Accumulated other comprehensive loss (income)							(10)
Other comprehensive income (loss) attributable to Eaton ordinary shareholders							11
Balance at end of period	(3,253)						(3,253)
Pensions and other postretirement benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(810)				(810)
Other comprehensive income (loss) before reclassifications							(8)
Amounts reclassified from Accumulated other comprehensive loss (income)							21
Other comprehensive income (loss) attributable to Eaton ordinary shareholders							14
Balance at end of period	(796)						(796)
Cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			$ 129				129
Other comprehensive income (loss) before reclassifications							37
Amounts reclassified from Accumulated other comprehensive loss (income)							(44)
Other comprehensive income (loss) attributable to Eaton ordinary shareholders							(7)
Balance at end of period	$ 122						$ 122

EQUITY - Reclassifications Out

EQUITY - Reclassifications Out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	$ 1,079	$ 720	$ 2,739	$ 2,060
Income tax expense (benefit)	187	112	463	316
Total, net of tax	$ 891	$ 607	2,273	$ 1,741
Reclassification out of Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total, net of tax			32
Gains and (losses) on net investment hedges (amount excluded from effectiveness testing) | Reclassification out of Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes			10
Income tax expense (benefit)			0
Total, net of tax			10
Amortization of defined benefits pensions and other postretirement benefits items | Reclassification out of Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes			(25)
Income tax expense (benefit)			(4)
Total, net of tax			(21)
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 expense (benefit)			12
Total, net of tax			44
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			9
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			45
Gains and (losses) on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Loss | Commodity contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes			$ 1

EQUITY - Calculation of Net Inc

EQUITY - Calculation of Net Income per Ordinary Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Calculation of net income per ordinary share attributable to ordinary shareholders
Net income attributable to Eaton ordinary shareholders	$ 891	$ 607	$ 2,273	$ 1,741
Weighted-average number of ordinary shares outstanding - diluted (in shares)	401.6	400.3	400.9	400.9
Less: dilutive effect of equity-based compensation (in shares)	2.2	1.9	1.9	2
Weighted-average number of ordinary shares outstanding - basic (shares)	399.4	398.4	399	398.9
Net income per share attributable to Eaton ordinary shareholders
Diluted (USD per share)	$ 2.22	$ 1.52	$ 5.67	$ 4.34
Basic (USD per share)	$ 2.23	$ 1.52	$ 5.70	$ 4.36

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets Measured on Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Summary of financial instruments recognized at fair value and fair value measurement used
Cash	$ 348	$ 294
Short-term investments	1,558	261
Net derivative contracts	9	29
Contingent future payments from acquisition of Green Motion	(45)	(44)
Level 1
Summary of financial instruments recognized at fair value and fair value measurement used
Cash	348	294
Short-term investments	1,558	261
Net derivative contracts	0	0
Contingent future payments from acquisition of Green Motion	0	0
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	9	29
Contingent future payments from acquisition of Green Motion	0	0
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	$ (45)	$ (44)

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Mar. 22, 2021	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Financial Statement Captions [Line Items]
Contingent consideration		$ 45	$ 44
Long-term debt and current portion of long term debt, carrying value		9,125	8,331
Long-term debt and current portion of long-term debt, fair value		8,252	$ 7,625
Green Motion, SA
Fair Value, Assets Measured on Recurring Basis, Financial Statement Captions [Line Items]
Total consideration to be transferred for acquisition	$ 106
Cash paid at closing	49
Contingent consideration	57	$ 45
Fair value of contingent future payments	$ 113

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Financial Instrument Recognized in the Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivatives designated as hedges | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	$ 27	$ 39
Derivatives designated as hedges | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	2	2
Derivatives designated as hedges | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	17	19
Derivatives designated as hedges | Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	3	9
Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	764	1,240
Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	27	35
Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	1	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	13	17
Derivatives designated as hedges | Cash flow hedging | Currency exchange contracts | Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	3	9
Derivatives designated as hedges | Cash flow hedging | Commodity contracts
Derivatives, Fair Value [Line Items]
Notional Amount	58	64
Derivatives designated as hedges | Cash flow hedging | Commodity contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	0	4
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	2
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 designated as hedges | Cash flow hedging | Forward starting floating-to-fixed interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	$ 53
Derivative, remaining maturity	8 years
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	1
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	0
Derivatives designated as hedges | Net Investment Hedging | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	549
Derivatives designated as hedges | Net Investment Hedging | Currency exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	0
Derivatives designated as hedges | Net Investment Hedging | Currency exchange contracts | Other noncurrent assets
Derivatives, Fair Value [Line Items]
Derivative asset designated as hedging instrument	0
Derivatives designated as hedges | Net Investment Hedging | Currency exchange contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	2
Derivatives designated as hedges | Net Investment Hedging | Currency exchange contracts | Other noncurrent liabilities
Derivatives, Fair Value [Line Items]
Derivative liability designated as hedging instrument	$ 0
Derivative, remaining maturity	3 months
Derivatives not designated as Hedges | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	$ 4,735	4,683
Derivatives not designated as Hedges | Currency exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset not designated as hedging instrument	11	30
Derivatives not designated as Hedges | Currency exchange contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liability not designated as hedging instrument	$ 11	$ 14
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 | Cash flow hedging | Currency exchange contracts
Derivatives, Fair Value [Line Items]
Derivative, remaining maturity	28 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	7 months	12 months

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
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			$ 12
Non-derivative net investment hedge
Derivative [Line Items]
Foreign currency note payable, noncurrent, after-tax	$ 3,010		3,010		$ 2,711
Net Investment Hedging | Currency exchange contracts | Derivatives designated as hedges | Gain (loss) on sale of business
Derivative [Line Items]
Effective portion	3	$ 0	21	$ 0
Net Investment Hedging | Currency exchange contracts | Derivatives designated as hedges | Interest expense - net
Derivative [Line Items]
Amount excluded from effectiveness testing	$ 2	$ 0	$ 11	$ 0

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Volume of Outstanding Commodity Contracts (Details) lb in Millions	9 Months Ended
	Sep. 30, 2023 ozt lb
Aluminum | Commodity contracts
Derivative [Line Items]
Derivative, outstanding commodity contract | lb	4
Aluminum | Minimum
Derivative [Line Items]
Derivative, term of contract	1 month
Aluminum | Maximum
Derivative [Line Items]
Derivative, term of contract	11 months
Copper | Commodity contracts
Derivative [Line Items]
Derivative, outstanding commodity contract | lb	12
Copper | Minimum
Derivative [Line Items]
Derivative, term of contract	1 month
Copper | Maximum
Derivative [Line Items]
Derivative, term of contract	12 months
Gold | Commodity contracts
Derivative [Line Items]
Derivative, outstanding commodity contract | ozt	1,662
Gold | Minimum
Derivative [Line Items]
Derivative, term of contract	1 month
Gold | Maximum
Derivative [Line Items]
Derivative, term of contract	12 months
Silver | Commodity contracts
Derivative [Line Items]
Derivative, outstanding commodity contract | ozt	166,422
Silver | Minimum
Derivative [Line Items]
Derivative, term of contract	1 month
Silver | Maximum
Derivative [Line Items]
Derivative, term of contract	10 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	Sep. 30, 2023	Dec. 31, 2022
Interest Rate Swap
Derivative [Line Items]
Carrying amount of the hedged assets (liabilities)	$ (713)	$ (713)
Long-term debt
Derivative [Line Items]
Discontinued hedge, cumulative adjustment	(44)	(48)
Long-term debt | Interest Rate Swap
Derivative [Line Items]
Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged asset (liabilities)	$ (44)	$ (48)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Impact of Derivative on Consolidated Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Net Sales	$ 5,880	$ 5,313	$ 17,229	$ 15,368
Cost of products sold	3,684	3,545	11,030	10,319
Interest expense - net	33	37	124	100
Cash flow hedging | Net Sales | Forward starting floating-to-fixed interest rate swaps
Derivative [Line Items]
Gain (loss) on hedged item	0	0	0	0
Gain (loss) on hedging instrument	0	0	0	0
Cash flow hedging | Net Sales | Currency exchange contracts
Derivative [Line Items]
Gain (loss) on hedged item	(3)	5	(2)	10
Gain (loss) on hedging instrument	3	(5)	2	(10)
Cash flow hedging | Net Sales | Commodity contracts
Derivative [Line Items]
Gain (loss) on hedged item		0	0
Gain (loss) on hedging instrument		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	0	0	0
Gain (loss) on hedging instrument	0	0	0	0
Cash flow hedging | Cost of products sold | Currency exchange contracts
Derivative [Line Items]
Gain (loss) on hedged item	(16)	(6)	(46)	(12)
Gain (loss) on hedging instrument	16	6	46	12
Cash flow hedging | Cost of products sold | Commodity contracts
Derivative [Line Items]
Gain (loss) on hedged item		3	(1)
Gain (loss) on hedging instrument		(3)	1
Cash flow hedging | Interest expense - net | Forward starting floating-to-fixed interest rate swaps
Derivative [Line Items]
Gain (loss) on hedged item	(3)	(1)	(9)	(1)
Gain (loss) on hedging instrument	3	1	9	1
Cash flow hedging | Interest expense - net | Currency exchange contracts
Derivative [Line Items]
Gain (loss) on hedged item	0	0	0	0
Gain (loss) on hedging instrument	$ 0	0	0	0
Cash flow hedging | Interest expense - net | Commodity contracts
Derivative [Line Items]
Gain (loss) on hedged item		0	0
Gain (loss) on hedging instrument		$ 0	$ 0
Fair value hedging | Net Sales | Interest Rate Swap
Derivative [Line Items]
Gain (loss) on hedged item				0
Gain (loss) on hedging instrument				0
Fair value hedging | Cost of products sold | Interest Rate Swap
Derivative [Line Items]
Gain (loss) on hedged item				0
Gain (loss) on hedging instrument				0
Fair value hedging | Interest expense - net | Interest Rate Swap
Derivative [Line Items]
Gain (loss) on hedged item				8
Gain (loss) on hedging instrument				$ (8)

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES- Impact of Derivatives Not Designated as Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedges	$ 14	$ (52)	$ 31	$ (100)
Currency exchange contracts | Interest expense - net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedges	$ 14	$ (52)	31	(85)
Commodity contracts | Other Income (Loss) And Cost Of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedges			$ 0	$ (15)

DERIVATIVE FINANCIAL INSTRUME_9

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Gain (loss) recognized in other comprehensive income (loss)
Total	$ 87	$ 117	$ 98	$ 577
Gain (loss) reclassified from Accumulated other comprehensive loss
Total	27	(3)	65	4
Gain (loss) on sale of business | Net Investment Hedging
Gain (loss) recognized in other comprehensive income (loss)
Non-derivative designated as net investment hedges	85	164	19	405
Gain (loss) reclassified from Accumulated other comprehensive loss
Non-derivative designated as net investment hedges	0	0	0	0
Forward starting floating-to-fixed interest rate swaps | Interest expense - net | Cash flow hedging
Gain (loss) recognized in other comprehensive income (loss)
Derivatives designated as cash flow hedges	1	(36)	2	202
Gain (loss) reclassified from Accumulated other comprehensive loss
Derivatives designated as cash flow hedges	3	1	9	1
Currency exchange contracts | Interest expense - net | Net Investment Hedging | Derivatives designated as hedges
Gain (loss) recognized in other comprehensive income (loss)
Amount excluded from effectiveness testing	2	0	11	0
Gain (loss) reclassified from Accumulated other comprehensive loss
Amount excluded from effectiveness testing	4	0	10	0
Currency exchange contracts | Net sales and Cost of products sold | Cash flow hedging
Gain (loss) recognized in other comprehensive income (loss)
Derivatives designated as cash flow hedges	(2)	(8)	47	(18)
Gain (loss) reclassified from Accumulated other comprehensive loss
Derivatives designated as cash flow hedges	20	(1)	45	3
Currency exchange contracts | Gain (loss) on sale of business | Net Investment Hedging | Derivatives designated as hedges
Gain (loss) recognized in other comprehensive income (loss)
Effective portion	3	0	21	0
Gain (loss) reclassified from Accumulated other comprehensive loss
Effective portion	0	0	0	0
Commodity contracts | Cost of products sold | Cash flow hedging
Gain (loss) recognized in other comprehensive income (loss)
Derivatives designated as cash flow hedges	(1)	(3)	(2)	(11)
Gain (loss) reclassified from Accumulated other comprehensive loss
Derivatives designated as cash flow hedges	$ 0	$ (3)	$ 1	$ 0

RESTRUCTURING CHARGES - Narrati

RESTRUCTURING CHARGES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended			42 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7	$ 22	$ 46	$ 49	$ 33	$ 78	$ 214
COVID-19
Restructuring Cost and Reserve [Line Items]
Restructuring charges								$ 371
Estimated charges	$ 380		$ 380					$ 380

RESTRUCTURING CHARGES - Restruc

RESTRUCTURING CHARGES - Restructuring Program Charges (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Total before income taxes	$ 7	$ 22	$ 46	$ 49	$ 33	$ 78	$ 214
Income tax benefit	1	4	9	10
Total after income taxes	$ 5	$ 18	$ 37	$ 39
Per ordinary share - diluted (USD per share)	$ 0.01	$ 0.04	$ 0.09	$ 0.10
Workforce reductions
Restructuring Cost and Reserve [Line Items]
Total before income taxes	$ 0	$ 5	$ 17	$ 11	(13)	21	172
Plant closing and other
Restructuring Cost and Reserve [Line Items]
Total before income taxes	$ 7	$ 17	$ 29	$ 38	$ 47	$ 57	$ 42

RESTRUCTURING CHARGES - Restr_2

RESTRUCTURING CHARGES - Restructuring Program Charges Related to Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7	$ 22	$ 46	$ 49	$ 33	$ 78	$ 214
Operating segments | Electrical Americas
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	4	4	14
Operating segments | Electrical Global
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5	8	22	14
Operating segments | Aerospace
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1	2	4	6
Operating segments | Vehicle
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1	2	4	8
Operating segments | eMobility
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	6	0
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 5	$ 6	$ 7

RESTRUCTURING CHARGES - Liabili

RESTRUCTURING CHARGES - Liabilities Related to Restructuring (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Reserve [Roll Forward]
Balance at beginning of period			$ 41	$ 104	$ 104	$ 142	$ 0
Liability recognized	$ 7	$ 22	46	49	33	78	214
Payments, utilization and translation			(41)		(96)	(116)	(72)
Balance at end of period	46		46		41	104	142
Restructuring liability adjustment					30
Workforce reductions
Restructuring Reserve [Roll Forward]
Balance at beginning of period			38	96	96	139	0
Liability recognized	0	5	17	11	(13)	21	172
Payments, utilization and translation			(15)		(45)	(64)	(33)
Balance at end of period	40		40		38	96	139
Plant closing and other
Restructuring Reserve [Roll Forward]
Balance at beginning of period			4	8	8	3	0
Liability recognized	7	$ 17	29	$ 38	47	57	42
Payments, utilization and translation			(27)		(51)	(52)	(39)
Balance at end of period	$ 6		$ 6		$ 4	$ 8	$ 3

BUSINESS SEGMENT INFORMATION (D

BUSINESS SEGMENT INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	$ 5,880			$ 5,313			$ 17,229	$ 15,368
Intangible asset amortization expense	(107)			(124)			(344)	(375)
Interest expense - net	(33)			(37)			(124)	(100)
Pension and other postretirement benefits income	11			7			33	35
Restructuring program charges	(7)			(22)			(46)	(49)	$ (33)	$ (78)	$ (214)
Other expense - net	(171)			(227)			(512)	(529)
Income before income taxes	1,079			720			2,739	2,060
Income tax expense	187			112			463	316
Net income	892	$ 745	$ 639	608	$ 601	$ 533	2,277	1,743
Less net income for noncontrolling interests	(1)			(1)			(4)	(2)
Net income attributable to Eaton ordinary shareholders	891			607			2,273	1,741
Electrical Americas
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	2,594			2,179			7,426	6,201
Electrical Global
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	1,503			1,486			4,572	4,418
Aerospace
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	867			768			2,517	2,227
Vehicle
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	753			744			2,242	2,123
eMobility
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	163			137			471	399
Operating segments
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	5,880			5,313			17,229	15,368
Segment operating profit (loss)	1,386			1,124			3,732	3,079
Operating segments | Electrical Americas
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	2,594			2,179			7,426	6,201
Segment operating profit (loss)	719			511			1,913	1,368
Restructuring program charges	0			(4)			(4)	(14)
Operating segments | Electrical Global
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	1,503			1,486			4,572	4,418
Segment operating profit (loss)	328			305			892	866
Restructuring program charges	(5)			(8)			(22)	(14)
Operating segments | Aerospace
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	867			768			2,517	2,227
Segment operating profit (loss)	209			185			580	506
Restructuring program charges	(1)			(2)			(4)	(6)
Operating segments | Vehicle
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	753			744			2,242	2,123
Segment operating profit (loss)	131			125			353	346
Restructuring program charges	(1)			(2)			(4)	(8)
Operating segments | eMobility
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	163			137			471	399
Segment operating profit (loss)	0			(2)			(5)	(7)
Restructuring program charges	0			0			(6)	0
Corporate, Non-Segment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Restructuring program charges	$ 0			$ (5)			$ (6)	$ (7)