CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash	$ 555	$ 488
Short-term investments	1,525	2,121
Accounts receivable - net	4,619	4,475
Inventory	4,227	3,739
Prepaid expenses and other current assets	874	851
Total current assets	11,801	11,675
Property, plant and equipment
Land and buildings	2,239	2,241
Machinery and equipment	6,823	6,497
Gross property, plant and equipment	9,062	8,738
Accumulated depreciation	(5,333)	(5,208)
Net property, plant and equipment	3,729	3,530
Other noncurrent assets
Goodwill	14,713	14,977
Other intangible assets	4,658	5,091
Operating lease assets	806	648
Deferred income taxes	609	458
Other assets	2,066	2,052
Total assets	38,381	38,432
Current liabilities
Short-term debt	0	8
Current portion of long-term debt	674	1,017
Accounts payable	3,678	3,365
Accrued compensation	670	676
Other current liabilities	2,835	2,680
Total current liabilities	7,857	7,747
Noncurrent liabilities
Long-term debt	8,478	8,244
Pension liabilities	741	768
Other postretirement benefits liabilities	164	180
Operating lease liabilities	669	533
Deferred income taxes	275	402
Other noncurrent liabilities	1,667	1,489
Total noncurrent liabilities	11,994	11,616
Shareholders’ equity
Ordinary shares (392.9 million outstanding in 2024 and 399.4 million in 2023)	4	4
Capital in excess of par value	12,731	12,634
Retained earnings	10,096	10,305
Accumulated other comprehensive loss	(4,342)	(3,906)
Shares held in trust	(1)	(1)
Total Eaton shareholders’ equity	18,488	19,036
Noncontrolling interests	43	33
Total equity	18,531	19,069
Total liabilities and equity	$ 38,381	$ 38,432