CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash	$ 237	$ 297
Short-term investments	268	271
Accounts receivable - net	3,667	3,297
Inventory	3,317	2,969
Prepaid expenses and other current assets	705	677
Total current assets	8,194	7,511
Property, plant and equipment
Land and buildings	2,245	2,227
Machinery and equipment	5,685	5,591
Gross property, plant and equipment	7,930	7,818
Accumulated depreciation	(4,832)	(4,754)
Net property, plant and equipment	3,098	3,064
Other noncurrent assets
Goodwill	14,955	14,751
Other intangible assets	6,012	5,855
Operating lease assets	449	442
Deferred income taxes	388	392
Other assets	2,112	2,012
Total assets	35,208	34,027
Current liabilities
Short-term debt	1,116	13
Current portion of long-term debt	1,728	1,735
Accounts payable	2,867	2,797
Accrued compensation	331	501
Other current liabilities	2,214	2,166
Total current liabilities	8,256	7,212
Noncurrent liabilities
Long-term debt	6,763	6,831
Pension liabilities	831	872
Other postretirement benefits liabilities	260	263
Operating lease liabilities	342	337
Deferred income taxes	635	559
Other noncurrent liabilities	1,465	1,502
Total noncurrent liabilities	10,296	10,364
Shareholders’ equity
Ordinary shares (399.0 million outstanding in 2022 and 398.8 million in 2021)	4	4
Capital in excess of par value	12,427	12,449
Retained earnings	7,707	7,594
Accumulated other comprehensive loss	(3,517)	(3,633)
Shares held in trust	(1)	(1)
Total Eaton shareholders’ equity	16,620	16,413
Noncontrolling interests	36	38
Total equity	16,656	16,451
Total liabilities and equity	$ 35,208	$ 34,027