Shareholders' Deficit

9 Months Ended

Sep. 30, 2012

Stockholders' Equity Note [Abstract]

Shareholders' Deficit

The changes in Shareholders' deficit follow:

Balance at May 10, 2012 (date of incorporation)	$	—
Net loss	(7,757		)
Other comprehensive (loss) income	—
Total comprehensive (loss) income	(7,757		)
Proceeds from sale of Ordinary Shares of ECL to Matsack	1
Proceeds from sale of Ordinary Shares of Abeiron II Limited to Matsack	1
Balance at September 30, 2012	$	(7,755	)

The components of ECL's authorized and outstanding shares as of September 30, 2012 follow:

Authorized
750,000,000 Ordinary Shares, $0.01 par value	$	7,500,000
40,000 Deferred Ordinary Shares, €1.00 par value	51,713
	$	7,551,713
Outstanding
100 Ordinary Shares, $0.01 par value, issued on May 18, 2012 to Matsack    and affiliates of Matsack	$	1

The holders of Ordinary Shares are entitled to dividends, have voting rights and participate pro rata in the total assets of ECL in the event of its winding up.

ECL incurred $4,753,075 of costs related to the future issuance of Ordinary Shares that were paid by Eaton. These costs were recorded as deferred costs in the Consolidated Balance Sheet and will be reclassified to Additional paid-in capital when ECL issues Ordinary Shares associated with the Transaction. For additional information on the Transaction, see Note 2, General Information.