v2.4.0.8
Acquisitions of Businesses (Tables)
 6 Months Ended
Jun. 30, 2013
Business Acquisition [Line Items]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
The purchase price allocation below represents Cooper's opening balance sheet on November 30, 2012 which was initially reported in the Form 10-K for the year ended December 31, 2012. During the quarter ended June 30, 2013, opening balance sheet adjustments have been made to update Eaton's preliminary estimates primarily related to intangible assets, goodwill, certain property values and the related deferred tax impact. These adjustments have been reflected in the December 31, 2012 Condensed Consolidated Balance Sheet.
 
November 30,
2012
(as previously
reported)
 
Adjustments
 
November 30,
2012
(as adjusted)
Working capital accounts (1)
$
2,314

 
$
(10
)
 
$
2,304

Prepaid expenses and other current assets
339

 
(135
)
 
204

Property, plant and equipment
940

 
(55
)
 
885

Investment in Apex Tool Group, LLC
800

 
7

 
807

Intangible assets
4,577

 
673

 
5,250

Other assets
35

 
—

 
35

Debt
(1,221
)
 
—

 
(1,221
)
Accounts payable
(519
)
 
—

 
(519
)
Other current liabilities
(634
)
 
(39
)
 
(673
)
Deferred taxes and other noncurrent liabilities
(1,943
)
 
(242
)
 
(2,185
)
Total identifiable net assets
4,688

 
199

 
4,887

Goodwill
8,504

 
(199
)
 
8,305

Total consideration
$
13,192

 
$
—

 
$
13,192

 
 
 
 
 
 
(1) Working capital accounts include Cash, Short-term investments, Accounts receivable and Inventory.
 
 
 
 
Description of annual sales from acquired entity from previous periods
Acquired businesses
 
Date of
transaction
 
Business
segment
 
Annual sales
Cooper Industries plc
 
November 30,
2012
 
Electrical Products;
Electrical Systems and Services
 
$5,409
for 2011
A diversified global manufacturer of electrical products and systems, with brands including Bussmann electrical and electronic fuses; Crouse-Hinds and CEAG explosion-proof electrical equipment; Halo and Metalux lighting fixtures; and Kyle and McGraw-Edison power systems products.
 
 
 
 
 
 
 
 
 
 
Rolec Comercial e Industrial S.A.
 
September 28,
2012
 
Electrical Systems and Services
 
$85 for the
12 months
ended
September 30,
2012
A Chilean manufacturer of integrated power assemblies and low- and medium-voltage switchgear, and a provider of engineering services serving mining and other heavy industrial applications in Chile and Peru.
 
 
 
 
 
 
 
 
 
 
Jeil Hydraulics Co., Ltd.
 
July 6,
2012
 
Hydraulics
 
$189
for 2011
A Korean manufacturer of track drive motors, swing drive motors, main control valves and remote control valves for the construction equipment market.
 
 
 
 
 
 
 
 
 
 
Polimer Kaucuk Sanayi ve Pazarlama A.S.
 
June 1,
2012
 
Hydraulics
 
$335
for 2011
A Turkish manufacturer of hydraulic and industrial hose for construction, mining, agriculture, oil and gas, manufacturing, food and beverage, and chemicals markets. This business sells its products under the SEL brand name.
 
 
 
 
 
 
 
 
 
 
Gycom Electrical Low-Voltage Power Distribution, Control and Automation
 
June 1,
2012
 
Electrical Systems and Services
 
$24
for 2011
A Swedish electrical low-voltage power distribution, control and automation components business.