v2.4.0.8
Equity (Tables)
 6 Months Ended
Jun. 30, 2013
Stockholders' Equity Note [Abstract]  
Change in Shareholders' 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
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
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
)
Reclassification out of accumulated other comprehensive income [Table Text Block]
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
)
 
 
Calculation of net income per ordinary share attributable to ordinary shareholders
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