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EQUITY (Tables)
 6 Months Ended
Jun. 30, 2018
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, 2017
$
17,253

 
$
37

 
$
17,290

Cumulative-effect adjustment upon adoption of ASU 2014-09
(2
)
 
—

 
(2
)
Cumulative-effect adjustment upon adoption of ASU 2016-16
(199
)
 
—

 
(199
)
Net income
1,098

 
—

 
1,098

Other comprehensive loss
(328
)
 
—

 
(328
)
Cash dividends paid
(578
)
 
(1
)
 
(579
)
Issuance of shares under equity-based compensation plans - net
46

 
—

 
46

Repurchase of shares
(600
)
 
—

 
(600
)
Changes in noncontrolling interest - net
—

 
(1
)
 
(1
)
Balance at June 30, 2018
$
16,690

 
$
35

 
$
16,725
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, 2017
$
(2,255
)
 
$
(1,139
)
 
$
(10
)
 
$
(3,404
)
Other comprehensive (loss) income
   before reclassifications
(414
)
 
13

 
(2
)
 
(403
)
Amounts reclassified from Accumulated other
   comprehensive loss
—

 
69

 
6

 
75

Net current-period Other comprehensive
   (loss) income
(414
)
 
82

 
4

 
(328
)
Balance at June 30, 2018
$
(2,669
)
 
$
(1,057
)
 
$
(6
)
 
$
(3,732
)
Reclassification Out of Accumulated Other Comprehensive Loss
The reclassifications out of Accumulated other comprehensive loss follow:
 
Six months ended June 30, 2018
 
Consolidated statements
of income classification
Amortization of defined benefit pensions and other postretirement benefits items
 
 
 
Actuarial loss and prior service cost
$
(86
)
1 
 
Tax benefit
17

 
 
Total, net of tax
(69
)
 
 
 
 
 
 
Gains and (losses) on cash flow hedges
 
 
 
Currency exchange contracts
(8
)
 
Cost of products sold
Tax benefit
2

 
 
Total, net of tax
(6
)
 
 
 
 
 
 
Total reclassifications for the period
$
(75
)
 
 

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)
2018
 
2017
 
2018
 
2017
Net income attributable to Eaton ordinary shareholders
$
610

 
$
516

 
$
1,098

 
$
950

 
 
 
 
 
 
 
 
Weighted-average number of ordinary shares outstanding - diluted
437.3

 
448.6

 
439.5

 
449.8

Less dilutive effect of equity-based compensation
2.1

 
2.3

 
2.5

 
2.3

Weighted-average number of ordinary shares outstanding - basic
435.2

 
446.3

 
437.0

 
447.5

 
 
 
 
 
 
 
 
Net income per share attributable to Eaton ordinary shareholders
 
 
 
 
 
 
 
Diluted
$
1.39

 
$
1.15

 
$
2.50

 
$
2.11

Basic
1.40

 
1.16

 
2.51

 
2.12