For periods prior to 2012, Eaton Corporation is presented as the parent company.

CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME YEAR ENDED DECEMBER 31, 2013

	Eaton Corporation plc			Eaton Corporation			Guarantors			Other subsidiaries			Consolidating adjustments			Total
Net sales	$	—		$	6,695		$	6,421		$	13,579		$	(4,649	)	$	22,046

Cost of products sold	—			5,227			4,784			10,010			(4,652		)	15,369
Selling and administrative expense	32			1,400			749			1,705			—			3,886
Research and development expense	—			255			200			189			—			644
Interest expense (income) - net	—			271			28			(22		)	(6		)	271
Other expense (income) - net	—			8			4			(20		)	—			(8		)
Equity in (earnings) loss of subsidiaries, net of tax	(2,147		)	(1,156		)	(1,214		)	(813		)	5,330			—
Intercompany expense (income) - net	254			(155		)	(479		)	380			—			—
Income before income taxes	1,861			845			2,349			2,150			(5,321		)	1,884
Income tax (benefit) expense	—			(108		)	(90		)	207			2			11
Net income	1,861			953			2,439			1,943			(5,323		)	1,873
Less net income for noncontrolling interests	—			—			—			(9		)	(3		)	(12		)
Net income attributable to Eaton ordinary shareholders	$	1,861		$	953		$	2,439		$	1,934		$	(5,326	)	$	1,861

Other comprehensive income	$	404		$	300		$	481		$	363		$	(1,144	)	$	404
Total comprehensive income attributable to Eaton ordinary shareholders	$	2,265		$	1,253		$	2,920		$	2,297		$	(6,470	)	$	2,265

CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME YEAR ENDED DECEMBER 31, 2012

	Eaton Corporation plc			Eaton Corporation			Guarantors			Other subsidiaries			Consolidating adjustments			Total
Net sales	$	—		$	6,680		$	2,849		$	10,346		$	(3,564	)	$	16,311

Cost of products sold	—			5,115			2,193			7,708			(3,568		)	11,448
Selling and administrative expense	—			1,307			335			1,252			—			2,894
Research and development expense	—			230			108			101			—			439
Interest expense (income) - net	—			229			8			(29		)	—			208
Other expense - net	—			10			48			13			—			71
Equity in (earnings) loss of subsidiaries, net of tax	(1,219		)	(732		)	(1,337		)	(611		)	3,899			—
Intercompany expense (income) - net	2			(237		)	42			193			—			—
Income before income taxes	1,217			758			1,452			1,719			(3,895		)	1,251
Income tax expense	—			24			—			6			1			31
Net income	1,217			734			1,452			1,713			(3,896		)	1,220
Less net income for noncontrolling interests	—			—			—			(3		)	—			(3		)
Net income attributable to Eaton ordinary shareholders	$	1,217		$	734		$	1,452		$	1,710		$	(3,896	)	$	1,217

Other comprehensive income (loss)	$	—		$	290		$	(1,976	)	$	(1,621	)	$	3,307		$	—
Total comprehensive income (loss) attributable to Eaton ordinary shareholders	$	1,217		$	1,024		$	(524	)	$	89		$	(589	)	$	1,217

CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME YEAR ENDED DECEMBER 31, 2011

	Eaton Corporation			Guarantors			Other subsidiaries			Consolidating adjustments			Total
Net sales	$	6,294		$	2,642		$	10,520		$	(3,407	)	$	16,049

Cost of products sold	4,865			1,975			7,822			(3,401		)	11,261
Selling and administrative expense	1,201			295			1,242			—			2,738
Research and development expense	207			112			98			—			417
Interest expense (income) - net	144			8			(34		)	—			118
Other income - net	(18		)	(2		)	(18		)	—			(38		)
Equity in (earnings) loss of subsidiaries, net of tax	(1,271		)	(61		)	—			1,332			—
Intercompany (income) expense - net	(224		)	(13		)	237			—			—
Income before income taxes	1,390			328			1,173			(1,338		)	1,553
Income tax expense	40			89			74			(2		)	201
Net income	1,350			239			1,099			(1,336		)	1,352
Less net income for noncontrolling interests	—			—			(1		)	(1		)	(2		)
Net income attributable to Eaton ordinary shareholders	$	1,350		$	239		$	1,098		$	(1,337	)	$	1,350

Other comprehensive loss	$	(616	)	$	(64	)	$	(302	)	$	366		$	(616	)
Total comprehensive income attributable to Eaton ordinary shareholders	$	734		$	175		$	796		$	(971	)	$	734

CONDENSED CONSOLIDATING BALANCE SHEETS DECEMBER 31, 2013

	Eaton Corporation plc		Eaton Corporation		Guarantors		Other subsidiaries		Consolidating adjustments			Total
Assets
Current assets
Cash	$	3	$	51	$	10	$	851	$	—		$	915
Short-term investments	—		—		134		660		—			794
Accounts receivable - net	—		473		922		2,253		—			3,648
Intercompany accounts receivable	5		471		3,368		4,470		(8,314		)	—
Inventory	—		344		609		1,466		(37		)	2,382
Prepaid expenses and other current assets	—		458		175		350		9			992
Total current assets	8		1,797		5,218		10,050		(8,342		)	8,731

Property, plant and equipment - net	—		982		761		2,090		—			3,833

Other noncurrent assets
Goodwill	—		1,382		6,350		6,763		—			14,495
Other intangible assets	—		211		3,996		2,979		—			7,186
Deferred income taxes	—		839		3		145		(747		)	240
Investment in subsidiaries	24,940		8,853		40,776		8,473		(83,042		)	—
Intercompany loans receivable	—		8,019		2,518		18,776		(29,313		)	—
Other assets	—		450		186		370		—			1,006
Total assets	$	24,948	$	22,533	$	59,808	$	49,646	$	(121,444	)	$	35,491

Liabilities and shareholders’ equity
Current liabilities
Short-term debt	$	—	$	—	$	—	$	13	$	—		$	13
Current portion of long-term debt	—		552		—		15		—			567
Accounts payable	—		440		380		1,140		—			1,960
Intercompany accounts payable	4		3,751		3,288		1,271		(8,314		)	—
Accrued compensation	—		140		37		284		—			461
Other current liabilities	5		547		400		965		(4		)	1,913
Total current liabilities	9		5,430		4,105		3,688		(8,318		)	4,914

Noncurrent liabilities
Long-term debt	—		7,693		1,266		16		(6		)	8,969
Pension liabilities	—		546		131		788		—			1,465
Other postretirement benefits liabilities	—		402		171		95		—			668
Deferred income taxes	—		—		1,303		757		(747		)	1,313
Intercompany loans payable	8,148		2,113		18,207		845		(29,313		)	—
Other noncurrent liabilities	—		652		162		485		—			1,299
Total noncurrent liabilities	8,148		11,406		21,240		2,986		(30,066		)	13,714

Shareholders’ equity
Eaton shareholders' equity	16,791		5,697		34,463		42,906		(83,066		)	16,791
Noncontrolling interests	—		—		—		66		6			72
Total equity	16,791		5,697		34,463		42,972		(83,060		)	16,863
Total liabilities and equity	$	24,948	$	22,533	$	59,808	$	49,646	$	(121,444	)	$	35,491

CONDENSED CONSOLIDATING BALANCE SHEETS DECEMBER 31, 2012

	Eaton Corporation plc		Eaton Corporation		Guarantors		Other subsidiaries		Consolidating adjustments			Total
Assets
Current assets
Cash	$	7	$	54	$	14	$	502	$	—		$	577
Short-term investments	—		25		38		464		—			527
Accounts receivable - net	—		654		393		2,427		—			3,474
Intercompany accounts receivable	38		335		4,683		3,887		(8,943		)	—
Inventory	—		341		602		1,432		(39		)	2,336
Prepaid expenses and other current assets	—		391		245		341		9			986
Total current assets	45		1,800		5,975		9,053		(8,973		)	7,900

Property, plant and equipment - net	—		934		777		2,075		—			3,786

Other noncurrent assets
Goodwill	—		1,382		6,350		6,711		—			14,443
Other intangible assets	—		231		4,094		3,255		—			7,580
Deferred income taxes	—		941		—		195		(783		)	353
Investment in subsidiaries	20,662		7,678		21,912		6,931		(57,183		)	—
Intercompany loans receivable	—		7,650		13,262		14,125		(35,037		)	—
Other assets	—		459		124		1,165		—			1,748
Total assets	$	20,707	$	21,075	$	52,494	$	43,510	$	(101,976	)	$	35,810

Liabilities and shareholders’ equity
Current liabilities
Short-term debt	$	—	$	753	$	—	$	4	$	—		$	757
Current portion of long-term debt	—		303		8		3		—			314
Accounts payable	—		424		344		1,111		—			1,879
Intercompany accounts payable	2		2,794		3,099		3,048		(8,943		)	—
Accrued compensation	—		129		74		259		—			462
Other current liabilities	—		523		411		1,173		(4		)	2,103
Total current liabilities	2		4,926		3,936		5,598		(8,947		)	5,515

Noncurrent liabilities
Long-term debt	—		8,398		1,331		36		—			9,765
Pension liabilities	—		895		232		876		—			2,003
Other postretirement benefits liabilities	—		454		189		99		—			742
Deferred income taxes	—		—		1,397		934		(783		)	1,548
Intercompany loans payable	5,592		1,401		14,857		13,187		(35,037		)	—
Other noncurrent liabilities	—		440		157		462		—			1,059
Total noncurrent liabilities	5,592		11,588		18,163		15,594		(35,820		)	15,117

Shareholders’ equity
Eaton shareholders' equity	15,113		4,561		30,395		22,263		(57,219		)	15,113
Noncontrolling interests	—		—		—		55		10			65
Total equity	15,113		4,561		30,395		22,318		(57,209		)	15,178
Total liabilities and equity	$	20,707	$	21,075	$	52,494	$	43,510	$	(101,976	)	$	35,810

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS DECEMBER 31, 2013

	Eaton Corporation plc			Eaton Corporation			Guarantors			Other subsidiaries			Consolidating adjustments			Total
Net cash provided by operating activities	$	104		$	739		$	428		$	1,067		$	(53	)	$	2,285

Investing activities
Capital expenditures for property, plant and equipment	—			(171		)	(119		)	(324		)	—			(614		)
Cash paid for acquisitions of businesses, net of cash acquired	—			—			—			(9		)	—			(9		)
Sales (purchases) of short-term investments - net	—			25			(95		)	(218		)	—			(288		)
Loans to affiliates	—			(535		)	(545		)	(6,215		)	7,295			—
Repayments of loans from affiliates	—			36			626			5,795			(6,457		)	—
Proceeds from the sales of businesses	—			—			—			777			—			777
Other - net	—			(41		)	(12		)	(15		)	—			(68		)
Net cash (used in) provided by investing activities	—			(686		)	(145		)	(209		)	838			(202		)

Financing activities
Proceeds from borrowings	—			—			—			9			—			9
Payments on borrowings	—			(1,048		)	(43		)	(5		)	—			(1,096		)
Proceeds from borrowings from affiliates	—			2,395			4,260			640			(7,295		)	—
Payments on borrowings from affiliates	—			(2,921		)	(2,874		)	(662		)	6,457			—
Other intercompany financing activities	688			1,365			(1,630		)	(423		)	—			—
Cash dividends paid	(796		)	—			—			—			—			(796		)
Cash dividends paid to affiliates	—			—			—			(53		)	53			—
Exercise of employee stock options	—			121			—			—			—			121
Excess tax benefit from equity-based compensation	—			32			—			—			—			32
Other - net	—			—			—			(6		)	—			(6		)
Net cash used in financing activities	(108		)	(56		)	(287		)	(500		)	(785		)	(1,736		)

Effect of currency on cash	—			—			—			(9		)	—			(9		)
Total (decrease) increase in cash	(4		)	(3		)	(4		)	349			—			338
Cash at the beginning of the period	7			54			14			502			—			577
Cash at the end of the period	$	3		$	51		$	10		$	851		$	—		$	915

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS DECEMBER 31, 2012

	Eaton Corporation plc			Eaton Corporation			Guarantors			Other subsidiaries			Consolidating adjustments			Total
Net cash (used in) provided by operating activities	$	(35	)	$	1,012		$	217		$	487		$	(17	)	$	1,664

Investing activities
Capital expenditures for property, plant and equipment	—			(291		)	(73		)	(229		)	—			(593		)
Cash paid for acquisitions of businesses, net of cash acquired	(6,542		)	—			11			(405		)	—			(6,936		)
Sales of short-term investments - net	—			175			210			218			—			603
Loans to affiliates	—			(6,693		)	—			(8,054		)	14,747			—
Repayments of loans from affiliates	—			268			—			8,175			(8,443		)	—
Proceeds from the sales of businesses	—			2			—			1			—			3
Other - net	—			(28		)	2			(23		)	—			(49		)
Net cash (used in) provided by investing activities	(6,542		)	(6,567		)	150			(317		)	6,304			(6,972		)

Financing activities
Proceeds from borrowings	—			7,156			—			—			—			7,156
Payments on borrowings	—			(1,306		)	(16		)	(2		)	—			(1,324		)
Payments of financing costs	—			(117		)	—			—			—			(117		)
Proceeds from borrowings from affiliates	5			8,054			6,425			263			(14,747		)	—
Payments on borrowings from affiliates	(5		)	(8,175		)	—			(263		)	8,443			—
Other intercompany financing activities				273			(340		)	67			—			—
Cash dividends paid	—			(512		)	—			—			—			(512		)
Cash dividends paid to affiliates	—			—			—			(17		)	17			—
Exercise of employee stock options	—			95			—			—			—			95
Issuance (repurchase) of shares	6,584			—			(6,425		)	—			—			159
Excess tax benefit from equity-based compensation	—			21			—			—			—			21
Other - net	—			—			—			2			—			2
Net cash provided by (used in) financing activities	6,584			5,489			(356		)	50			(6,287		)	5,480

Effect of currency on cash	—			—			—			20			—			20
Total increase (decrease) in cash	7			(66		)	11			240			—			192
Cash at the beginning of the period	—			120			3			262			—			385
Cash at the end of the period	$	7		$	54		$	14		$	502		$	—		$	577

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS DECEMBER 31, 2011

	Eaton Corporation			Guarantors			Other subsidiaries			Consolidating adjustments			Total
Net cash provided by operating activities	$	613		$	171		$	1,017		$	(553	)	$	1,248

Investing activities
Capital expenditures for property, plant and equipment	(249		)	(39		)	(280		)	—			(568		)
Cash paid for acquisitions of businesses, net of cash acquired	(24		)	(2		)	(299		)	—			(325		)
Sales of short-term investments - net	27			—			76			—			103
Loans to affiliates	(149		)	—			(5,855		)	6,004			—
Repayments of loans from affiliates	100			—			5,650			(5,750		)	—
Proceeds from the sales of businesses	1			14			—			—			15
Other - net	(24		)	(9		)	8			—			(25		)
Net cash used in investing activities	(318		)	(36		)	(700		)	254			(800		)

Financing activities
Proceeds from borrowings	379			—			2			—			381
Payments on borrowings	(70		)	—			(8		)	—			(78		)
Payments of financing costs	(3		)	—			—			—			(3		)
Proceeds from borrowings from affiliates	5,855			—			149			(6,004		)	—
Payments on borrowings from affiliates	(5,650		)	—			(100		)	5,750			—
Other intercompany financing activities	(42		)	(106		)	148			—			—
Cash dividends paid	(462		)	—			—			—			(462		)
Cash dividends paid to affiliates	—			(32		)	(521		)	553			—
Exercise of employee stock options	71			—			—			—			71
Repurchase of shares	(343		)	—			—			—			(343		)
Excess tax benefit from equity-based compensation	57			—			—			—			57
Other - net	—			—			(4		)	—			(4		)
Net cash used in financing activities	(208		)	(138		)	(334		)	299			(381		)

Effect of currency on cash	—			—			(15		)	—			(15		)
Total increase (decrease) in cash	87			(3		)	(32		)	—			52
Cash at the beginning of the period	33			6			294			—			333
Cash at the end of the period	$	120		$	3		$	262		$	—		$	385