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Retirement Benefits Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Retirement Benefit Plans (Tables) [Abstract]  
Obligations and funded status
Obligations and Funded Status
 
United States
pension liabilities
 
Non-United States
pension liabilities
 
Other postretirement
liabilities
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Funded status
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets
$
2,940

 
$
2,607

 
$
1,432

 
$
1,248

 
$
138

 
$
146

Benefit obligations
(3,625
)
 
(3,817
)
 
(2,127
)
 
(2,017
)
 
(867
)
 
(950
)
Funded status
$
(685
)
 
$
(1,210
)
 
$
(695
)
 
$
(769
)
 
$
(729
)
 
$
(804
)
 
 
 
 
 
 
 
 
 
 
 
 
Amounts recognized in the Consolidated
   Balance Sheets
 
 
 
 
 
 
 
 
 
 
 
Non-current assets
$
44

 
$
—

 
$
86

 
$
72

 
$
—

 
$
—

Current liabilities
(15
)
 
(15
)
 
(30
)
 
(33
)
 
(61
)
 
(62
)
Non-current liabilities
(714
)
 
(1,195
)
 
(751
)
 
(808
)
 
(668
)
 
(742
)
Total
$
(685
)
 
$
(1,210
)
 
$
(695
)
 
$
(769
)
 
$
(729
)
 
$
(804
)
 
 
 
 
 
 
 
 
 
 
 
 
Amounts recognized in Accumulated other
   comprehensive loss (pretax)
 
 
 
 
 
 
 
 
 
 
 
Net actuarial loss
$
1,051

 
$
1,618

 
$
515

 
$
550

 
$
190

 
$
269

Prior service cost (credit)
3

 
1

 
13

 
9

 
(6
)
 
(7
)
     Other
—

 
2

 
—

 
—

 
—

 
—

Total
$
1,054

 
$
1,621

 
$
528

 
$
559

 
$
184

 
$
262
Change in benefit obligations
Change in Benefit Obligations
 
United States
pension liabilities
 
Non-United States
pension liabilities
 
Other postretirement
liabilities
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Balance at January 1
$
3,817

 
$
2,899

 
$
2,017

 
$
1,505

 
$
950

 
$
853

Service cost
128

 
115

 
62

 
50

 
20

 
17

Interest cost
147

 
134

 
80

 
77

 
35

 
38

Actuarial (gain) loss
(223
)
 
264

 
21

 
196

 
(54
)
 
34

Gross benefits paid
(246
)
 
(132
)
 
(90
)
 
(78
)
 
(103
)
 
(94
)
Currency translation
—

 
—

 
36

 
54

 
(2
)
 
—

Acquisitions
—

 
536

 
—

 
212

 
—

 
74

Other
2

 
1

 
1

 
1

 
21

 
28

Balance at December 31
$
3,625

 
$
3,817

 
$
2,127

 
$
2,017

 
$
867

 
$
950

 
 
 
 
 
 
 
 
 
 
 
 
Accumulated benefit obligation
$
3,458

 
$
3,639

 
$
2,003

 
$
1,885

 
 
 
 
Change in plan assets
Change in Plan Assets
 
United States
pension liabilities
 
Non-United States
pension liabilities
 
Other postretirement
liabilities
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Balance at January 1
$
2,607

 
$
1,664

 
$
1,248

 
$
989

 
$
146

 
$
156

Actual return on plan assets
383

 
293

 
118

 
86

 
15

 
13

Employer contributions
196

 
311

 
145

 
102

 
59

 
43

Gross benefits paid
(246
)
 
(132
)
 
(90
)
 
(78
)
 
(103
)
 
(94
)
Currency translation
—

 
—

 
15

 
39

 
—

 
—

Acquisitions
—

 
471

 
—

 
128

 
—

 
—

Other
—

 
—

 
(4
)
 
(18
)
 
21

 
28

Balance at December 31
$
2,940

 
$
2,607

 
$
1,432

 
$
1,248

 
$
138

 
$
146
Components of pension plans with accumulated benefit obligations in excess of plan assets
The components of pension plans with an accumulated benefit obligation in excess of plan assets at December 31 follow:
 
United States
pension liabilities
 
Non-United States
pension liabilities
 
2013
 
2012
 
2013
 
2012
Projected benefit obligation
$
3,166

 
$
3,817

 
$
1,411

 
$
1,412

Accumulated benefit obligation
2,999

 
3,639

 
1,349

 
1,307

Fair value of plan assets
2,437

 
2,607

 
635

 
657
Changes in pension and other postretirement benefits liabilities recognized in Accumulated other comprehensive loss
Changes in pension and other postretirement benefit liabilities recognized in Accumulated other comprehensive loss follow:
 
United States
pension liabilities
 
Non-United States
pension liabilities
 
Other postretirement
liabilities
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Balance at January 1
$
1,621

 
$
1,602

 
$
559

 
$
358

 
$
262

 
$
248

Prior service cost arising during the year
2

 
1

 
4

 
—

 
—

 
—

Net (gain) loss arising during the year
(381
)
 
154

 
(12
)
 
205

 
(63
)
 
27

Currency translation
—

 
—

 
6

 
15

 
(1
)
 
—

Less amounts included in expense during the year
(186
)
 
(138
)
 
(29
)
 
(19
)
 
(14
)
 
(13
)
Other
(2
)
 
2

 
—

 
—

 
—

 
—

Net change for the year
(567
)
 
19

 
(31
)
 
201

 
(78
)
 
14

Balance at December 31
$
1,054

 
$
1,621

 
$
528

 
$
559

 
$
184

 
$
262
Benefits expense
Benefits Expense
 
United States
pension benefit expense
 
Non-United States
pension benefit expense
 
Other postretirement
benefits expense
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Service cost
$
128

 
$
115

 
$
93

 
$
62

 
$
50

 
$
48

 
$
20

 
$
17

 
$
15

Interest cost
147

 
134

 
132

 
80

 
77

 
78

 
35

 
38

 
41

Expected return on plan assets
(226
)
 
(183
)
 
(164
)
 
(85
)
 
(77
)
 
(70
)
 
(6
)
 
(6
)
 
—

Amortization
133

 
118

 
75

 
27

 
15

 
13

 
14

 
13

 
12

 
182

 
184

 
136

 
84

 
65

 
69

 
63

 
62

 
68

Curtailment loss
—

 
—

 
—

 
1

 
1

 
1

 
—

 
—

 
—

Settlement loss
53

 
20

 
17

 
1

 
3

 
4

 
—

 
—

 
—

Total expense
$
235

 
$
204

 
$
153

 
$
86

 
$
69

 
$
74

 
$
63

 
$
62

 
$
68
Estimated pretax net amounts that will be recognized from Accumulated other comprehensive loss into net periodic benefit cost
The estimated pretax net amounts that will be recognized from Accumulated other comprehensive loss into net periodic benefit cost in 2014 follow:
 
United States
pension liabilities
 
Non-United States
pension liabilities
 
Other postretirement
liabilities
Actuarial loss
$
155

 
$
26

 
$
9

Prior service cost (credit)
—

 
1

 
(2
)
Total
$
155

 
$
27

 
$
7
Assumptions used to determine other postretirement obligations and expense
Pension Plans
 
United States
pension plans
 
Non-United States
pension plans
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Assumptions used to determine benefit obligation at year-end
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.67
%
 
3.97
%
 
4.70
%
 
4.20
%
 
4.17
%
 
5.12
%
Rate of compensation increase
3.16
%
 
3.16
%
 
3.15
%
 
3.12
%
 
3.09
%
 
3.62
%
 
 
 
 
 
 
 
 
 
 
 
 
Assumptions used to determine expense
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.97
%
 
4.70
%
 
5.50
%
 
4.17
%
 
5.12
%
 
5.40
%
Expected long-term return on plan assets
8.45
%
 
8.50
%
 
8.50
%
 
6.92
%
 
7.10
%
 
7.17
%
Rate of compensation increase
3.16
%
 
3.15
%
 
3.61
%
 
3.09
%
 
3.62
%
 
3.63
%
Assumptions used to determine other postretirement benefits obligations and expense
Assumptions used to determine other postretirement benefits obligations and expense follow:
 
Other postretirement
benefits plans
 
2013
 
2012
 
2011
Assumptions used to determine benefit obligation at year-end
 
 
 
 
 
Discount rate
4.48
%
 
3.79
%
 
4.60
%
Health care cost trend rate assumed for next year
6.64
%
 
6.96
%
 
7.60
%
Ultimate health care cost trend rate
4.77
%
 
4.53
%
 
4.50
%
Year ultimate health care cost trend rate is achieved
2023

 
2022

 
2020

 
 
 
 
 
 
Assumptions used to determine expense
 
 
 
 
 
Discount rate
3.79
%
 
4.60
%
 
5.20
%
Initial health care cost trend rate
6.96
%
 
7.60
%
 
8.10
%
Ultimate health care cost trend rate
4.53
%
 
4.50
%
 
4.50
%
Year ultimate health care cost trend rate is achieved
2022

 
2020

 
2020
1-percentage change in the assumed health care cost trend rates
A 1-percentage point change in the assumed health care cost trend rates would have the following effects:
 
1% increase
 
1% decrease
Effect on total service and interest cost
$
1

 
$
(1
)
Effect on other postretirement liabilities
21

 
(19
)
Employer contributions to pension plans
Contributions to pension plans that Eaton expects to make in 2014, and made in 2013, 2012 and 2011, follow:
 
2014
 
2013
 
2012
 
2011
United States plans
$
254

 
$
196

 
$
311

 
$
264

Non-United States plans
108

 
145

 
102

 
108

Total contributions
$
362

 
$
341

 
$
413

 
$
372
Expected pension and other postretirement benefit payments and expected subsidy
For other postretirement benefits liabilities, the expected subsidy receipts relate to the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, which would reduce the gross payments listed below.
 
Estimated
United States
pension payments
 
Estimated
non-United States
pension payments
 
Estimated other postretirement
benefit payments
 
 
 
Gross
 
Medicare prescription
drug subsidy
2014
$
314

 
$
91

 
$
93

 
$
(6
)
2015
256

 
92

 
86

 
(6
)
2016
273

 
94

 
82

 
(6
)
2017
277

 
99

 
78

 
(5
)
2018
283

 
101

 
74

 
(4
)
2019 - 2023
1,499

 
545

 
316

 
(13
)
Fair value of pension plan assets
A summary of the fair value of pension plan assets at December 31, 2013 and 2012, follows:
 
Total
 
Quoted prices
in active
markets for
identical assets
(Level 1)
 
Other
observable
inputs
(Level 2)
 
Unobservable
inputs
(Level 3)
2013
 
 
 
 
 
 
 
Common collective trusts
 
 
 
 
 
 
 
Non-United States equity and global equities
$
1,453

 
$
—

 
$
1,453

 
$
—

United States equity
1,153

 
—

 
1,153

 
—

Fixed income
609

 
—

 
609

 
—

Long duration funds
63

 
—

 
63

 
—

Exchange traded funds
64

 
—

 
64

 
—

Fixed income securities
274

 
—

 
274

 
—

United States treasuries
63

 
63

 
—

 
—

Real estate securities
220

 
214

 
—

 
6

Equity securities
141

 
141

 
—

 
—

Cash equivalents
187

 
6

 
181

 
—

Exchange traded funds
47

 
47

 
—

 
—

Other
98

 
—

 
4

 
94

Total pension plan assets
$
4,372

 
$
471

 
$
3,801

 
$
100

 
Total
 
Quoted prices
in active
markets for
identical assets
(Level 1)
 
Other
observable
inputs
(Level 2)
 
Unobservable
inputs
(Level 3)
2012
 
 
 
 
 
 
 
Common collective trusts
 
 
 
 
 
 
 
Non-United States equity and global equities
$
1,313

 
$
—

 
$
1,313

 
$
—

United States equity
978

 
—

 
978

 
—

Fixed income
538

 
—

 
538

 
—

Long duration funds
61

 
—

 
61

 
—

Exchange traded funds
43

 
—

 
43

 
—

Fixed income securities
331

 
—

 
331

 
—

United States treasuries
143

 
143

 
—

 
—

Real estate securities
124

 
119

 
—

 
5

Equity securities
104

 
104

 
—

 
—

Cash equivalents
140

 
7

 
133

 
—

Exchange traded funds
40

 
40

 
—

 
—

Other
40

 
3

 
1

 
36

Total pension plan assets
$
3,855

 
$
416

 
$
3,398

 
$
41
Fair value of other postretirement benefits plan assets
A summary of the fair value of other postretirement benefits plan assets at December 31, 2013 and 2012, follows:
 
Total
 
Quoted prices
in active
markets for
identical assets
(Level 1)
 
Other
observable
inputs
(Level 2)
 
Unobservable
inputs
(Level 3)
2013
 
 
 
 
 
 
 
Common collective trusts
 
 
 
 
 
 
 
Global equities
$
70

 
$
—

 
$
70

 
$
—

Fixed income securities
29

 
—

 
29

 
—

United States treasuries
38

 
38

 
—

 
—

Cash equivalents
1

 
1

 
—

 
—

Total other postretirement benefits plan assets
$
138

 
$
39

 
$
99

 
$
—


2012
 
 
 
 
 
 
 
Common collective trusts
 
 
 
 
 
 
 
Global equities
$
75

 
$
—

 
$
75

 
$
—

Fixed income securities
29

 
—

 
29

 
—

United States treasuries
38

 
38

 
—

 
—

Cash equivalents
4

 
4

 
—

 
—

Total other postretirement benefits plan assets
$
146

 
$
42

 
$
104

 
$
—
Employer contributions to defined contribution benefit plans, charged to expense
The total contributions related to these plans are charged to expense and were as follows:
2013
$
121

2012
74

2011
65