CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2025	Dec. 31, 2024
Current assets
Cash	$ 398	$ 555
Short-term investments	186	1,525
Accounts receivable - net	5,486	4,619
Inventory	4,581	4,227
Prepaid expenses and other current assets	1,246	874
Total current assets	11,897	11,801
Property, plant and equipment
Land and buildings	2,299	2,239
Machinery and equipment	7,328	6,823
Gross property, plant and equipment	9,627	9,062
Accumulated depreciation	(5,595)	(5,333)
Net property, plant and equipment	4,032	3,729
Other noncurrent assets
Goodwill	15,790	14,713
Other intangible assets	5,227	4,658
Operating lease assets	709	806
Deferred income taxes	621	609
Other assets	2,230	2,066
Total assets	40,507	38,381
Current liabilities
Short-term debt	1,111	0
Current portion of long-term debt	1,134	674
Accounts payable	3,762	3,678
Accrued compensation	529	670
Other current liabilities	3,058	2,835
Total current liabilities	9,594	7,857
Noncurrent liabilities
Long-term debt	8,751	8,478
Pension liabilities	758	741
Other postretirement benefits liabilities	161	164
Operating lease liabilities	587	669
Deferred income taxes	280	275
Other noncurrent liabilities	1,728	1,667
Total noncurrent liabilities	12,265	11,994
Shareholders’ equity
Ordinary shares (389.3 million outstanding in 2025 and 392.9 million in 2024)	4	4
Capital in excess of par value	12,780	12,731
Retained earnings	9,917	10,096
Accumulated other comprehensive loss	(4,095)	(4,342)
Shares held in trust	0	(1)
Total Eaton shareholders’ equity	18,606	18,488
Noncontrolling interests	41	43
Total equity	18,647	18,531
Total liabilities and equity	$ 40,507	$ 38,381