v2.4.0.8

Equity | 6 Months Ended
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Jun. 30, 2013
Stockholders' Equity Note [Abstract] |
EQUITY | EQUITY The changes in Shareholders’ equity follow:
| Eaton shareholders’ equity |  | Noncontrolling interests |  | Total equity
Balance at December 31, 2012 | $ | 15,113 |  |  | $ | 42 |  |  | $ | 15,155 |
Net income | 872 |  |  | 5 |  |  | 877 |
Other comprehensive loss | (306 | ) |  | — |  |  | (306 | )
Cash dividends paid | (397 | ) |  | (4 | ) |  | (401 | )
Issuance of shares under equity-based compensation plans - net | 106 |  |  | — |  |  | 106 |
Balance at June 30, 2013 | $ | 15,388 |  |  | $ | 43 |  |  | $ | 15,431 |
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, 2012 | $ | (367 | ) |  | $ | (1,599 | ) |  | $ | 2 |  |  | $ | (1,964 | )
Other comprehensive (loss) income before reclassifications | (390 | ) |  | 23 |  |  | (6 | ) |  | (373 | )
Amounts reclassified from Accumulated other comprehensive (loss) income | — |  |  | 66 |  |  | 1 |  |  | 67 |
Net current-period other comprehensive (loss) income | (390 | ) |  | 89 |  |  | (5 | ) |  | (306 | )
Balance at June 30, 2013 | $ | (757 | ) |  | $ | (1,510 | ) |  | $ | (3 | ) |  | $ | (2,270 | )
The reclassifications out of Accumulated other comprehensive loss follow:
|  | Six months ended June 30, 2013 |  | Consolidated Statements of Income classification
Amortization of defined benefit pension items |  |  |  |
Actuarial loss |  | $ | (103 | ) |  | 1
|  | (103 | ) |  |
Tax benefit |  | 37 |  |  |
Total, net of tax |  | (66 | ) |  |
Gains and losses on cash flow hedges |  |  |  |
Floating-to-fixed interest rate swaps |  | (1 | ) |  | Interest expense - net
Currency exchange contracts |  | 1 |  |  | Cost of products sold
Commodity contracts |  | (1 | ) |  | Cost of products sold
|  | (1 | ) |  |
Tax expense |  | — |  |  |
Total, net of tax |  | (1 | ) |  |
Total reclassifications for the period |  | $ | (67 | ) |  |
1 These components of Accumulated other comprehensive loss are included in the computation of net periodic pension cost. See Note 6 for additional information about defined benefit pension items. Net Income per Ordinary Share A summary of the calculation of net income per ordinary share attributable to shareholders follows:
| Three months ended June 30 |  | Six months ended June 30
(Shares in millions) | 2013 |  | 2012 |  | 2013 |  | 2012
Net income attributable to Eaton ordinary shareholders | $ | 494 |  |  | $ | 382 |  |  | $ | 872 |  |  | $ | 693 |
Weighted-average number of ordinary shares outstanding - diluted | 476.3 |  |  | 339.5 |  |  | 475.7 |  |  | 339.6 |
Less dilutive effect of equity-based compensation | 2.9 |  |  | 2.5 |  |  | 3.1 |  |  | 3.4 |
Weighted-average number of ordinary shares outstanding - basic | 473.4 |  |  | 337.0 |  |  | 472.6 |  |  | 336.2 |
Net income per ordinary share |  |  |  |  |  |  |
Diluted | $ | 1.04 |  |  | $ | 1.12 |  |  | $ | 1.83 |  |  | $ | 2.04 |
Basic | 1.04 |  |  | 1.13 |  |  | 1.84 |  |  | 2.06 |
For the second quarter and the first six months of 2013, 0.2 million and 0.1 million stock options, respectively, were excluded from the calculation of diluted net income per ordinary share because the exercise price of the options exceeded the average market price of the ordinary shares during the period and their effect, accordingly, would have been antidilutive. For the second quarter and the first six months of 2012, 2.4 million and 1.7 million stock options, respectively, were excluded from the calculation of diluted net income per ordinary share because the exercise price of the options exceeded the average market price of the ordinary shares during the period and their effect, accordingly, would have been antidilutive.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
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