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EQUITY (Tables)
 6 Months Ended
Jun. 30, 2017
Stockholders' Equity Note [Abstract]  
Changes in Shareholders' equity
The changes in Shareholders’ equity follow:
 
Eaton
shareholders’
equity
 
Noncontrolling
interests
 
Total
equity
Balance at December 31, 2016
$
14,897

 
$
44

 
$
14,941

Cumulative-effect adjustment upon adoption of ASU 2016-09
48

 
—

 
48

Net income
947

 
1

 
948

Other comprehensive income
586

 
—

 
586

Cash dividends paid
(537
)
 
(3
)
 
(540
)
Issuance of shares under equity-based compensation plans - net
76

 
—

 
76

Repurchase of shares
(465
)
 
—

 
(465
)
Balance at June 30, 2017
$
15,552

 
$
42

 
$
15,594
Schedule of Accumulated Other Comprehensive Loss
The changes in Accumulated other comprehensive loss follow:
 
Currency translation and related hedging instruments
 
Pensions and other postretirement benefits
 
Cash flow
hedges
 
Total
Balance at December 31, 2016
$
(3,062
)
 
$
(1,380
)
 
$
(6
)
 
$
(4,448
)
Other comprehensive (loss) income
   before reclassifications
548

 
(27
)
 
(3
)
 
518

Amounts reclassified from Accumulated other
   comprehensive loss (income)
—

 
64

 
4

 
68

Net current-period Other comprehensive
   income (loss)
548

 
37

 
1

 
586

Balance at June 30, 2017
$
(2,514
)
 
$
(1,343
)
 
$
(5
)
 
$
(3,862
)
Reclassification Out of Accumulated Other Comprehensive Loss
The reclassifications out of Accumulated other comprehensive loss follow:
 
Six months ended June 30, 2017
 
Consolidated statements
of income classification
Amortization of defined benefit pensions and other postretirement benefits items
 
 
 
Actuarial loss and prior service cost
$
(94
)
1 
 
Tax benefit
30

 
 
Total, net of tax
(64
)
 
 
 
 
 
 
Gains and (losses) on cash flow hedges
 
 
 
Currency exchange contracts
(5
)
 
Cost of products sold
Tax benefit
1

 
 
Total, net of tax
(4
)
 
 
 
 
 
 
Total reclassifications for the period
$
(68
)
 
 

1 These components of Accumulated other comprehensive loss are included in the computation of net periodic benefit cost. See Note 6 for additional information about pension and other postretirement benefits items.
Calculation of Net Income Per Ordinary Share Attributable to Shareholders
A summary of the calculation of net income per share attributable to Eaton ordinary shareholders follows:
 
Three months ended
June 30
 
Six months ended
June 30
(Shares in millions)
2017
 
2016
 
2017
 
2016
Net income attributable to Eaton ordinary shareholders
$
515

 
$
491

 
$
947

 
$
895

 
 
 
 
 
 
 
 
Weighted-average number of ordinary shares outstanding - diluted
448.6

 
458.3

 
449.8

 
459.0

Less dilutive effect of equity-based compensation
2.3

 
1.3

 
2.3

 
1.2

Weighted-average number of ordinary shares outstanding - basic
446.3

 
457.0

 
447.5

 
457.8

 
 
 
 
 
 
 
 
Net income per share attributable to Eaton ordinary shareholders
 
 
 
 
 
 
 
Diluted
$
1.15

 
$
1.07

 
$
2.10

 
$
1.95

Basic
1.15

 
1.08

 
2.12

 
1.96