EATON SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Pre-Tax and After-Tax Amounts Recognized in Comprehensive Income (Loss)

The following table summarizes the pre-tax and after-tax amounts recognized in Comprehensive income (loss):


	2024				2023				2022
(In millions)	Pre-tax		After-tax		Pre-tax		After-tax		Pre-tax		After-tax
Currency translation and related hedging instruments
Gain (loss) from currency translation and related hedging instruments	$	(358)	$	(355)	$	252	$	247	$	(632)	$	(647)

Amortization of gains on net investment hedges (amount excluded from effectiveness testing) reclassified to earnings	(15)		(15)		(12)		(12)		—		—
	(373)		(370)		241		235		(632)		(647)

Pensions and other postretirement benefits
Prior service credit (cost) arising during the year	1		1		—		—		—		—
Net gain (loss) arising during the year	(141)		(104)		(246)		(189)		45		31
Currency translation	18		13		(29)		(21)		65		56

Amortization of actuarial loss and prior service cost reclassified to earnings	55		41		32		24		116		89
	(67)		(49)		(243)		(185)		226		175

Cash flow hedges
Gain on derivatives designated as cash flow hedges	(6)		(5)		63		50		210		166
Changes in cash flow hedges reclassified to earnings	(16)		(12)		(78)		(61)		(9)		(7)
	(22)		(17)		(14)		(11)		201		159
Other comprehensive income (loss) attributable to Eaton ordinary shareholders	$	(462)	$	(436)	$	(17)	$	39	$	(205)	$	(313)

Schedule of Changes in Accumulated Other Comprehensive Income (Loss)

The changes in Accumulated other comprehensive loss are as follows:


(In millions)	Currency translation and related hedging instruments		Pensions and other postretirement benefits		Cash flow hedges		Total
Balance at January 1, 2024	$	(3,029)	$	(995)	$	118	$	(3,906)
Other comprehensive income (loss) before reclassifications	(355)		(90)		(5)		(450)
Amounts reclassified from Accumulated other comprehensive loss (income)	(15)		41		(12)		14
Net current-period Other comprehensive income (loss)	(370)		(49)		(17)		(436)
Balance at December 31, 2024	$	(3,399)	$	(1,044)	$	101	$	(4,342)

Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss)

The reclassifications out of Accumulated other comprehensive loss are as follows:


(In millions)	December 31, 2024			Consolidated Statements of Income classification
Gains and (losses) on net investment hedges (amount excluded from effectiveness testing)
Currency exchange contracts	$	15		Interest expense - net
Tax expense	—
Total, net of tax	15

Amortization of defined benefits pensions and other postretirement benefits items
Actuarial loss and prior service cost	(55)		1


Tax benefit	15
Total, net of tax	(41)

Gains and (losses) on cash flow hedges
Floating-to-fixed interest rate swaps	13			Interest expense - net
Currency exchange contracts	(1)			Net sales and Cost of products sold
Commodity contracts	4			Cost of products sold

Tax expense	(3)
Total, net of tax	12

Total reclassifications for the period	$	(14)

1 These components of Accumulated other comprehensive loss are included in the computation of net periodic benefit cost. See Note 10 for additional information about pension and other postretirement benefits items.

Schedule of Net Income per Share

A summary of the calculation of net income per share attributable to Eaton ordinary shareholders is as follows:



(In millions except for per share data)	2024		2023		2022
Net income attributable to Eaton ordinary shareholders	$	3,794	$	3,218	$	2,462

Weighted-average number of ordinary shares outstanding - diluted	399.4		401.1		400.8
Less dilutive effect of equity-based compensation	1.8		2.0		2.1
Weighted-average number of ordinary shares outstanding - basic	397.6		399.1		398.7

Net income per share attributable to Eaton ordinary shareholders
Diluted	$	9.50	$	8.02	$	6.14
Basic	9.54		8.06		6.17