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Business Segment Information
6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION
BUSINESS SEGMENT INFORMATION
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated on a regular basis by the chief operating decision maker, or decision making group, in deciding how to allocate resources to an individual segment and in assessing performance. Eaton’s operating segments are Electrical Products, Electrical Systems and Services, Hydraulics, Aerospace and Vehicle. Operating profit includes the operating profit from intersegment sales. For additional information regarding Eaton’s business segments, see Note 14 to the Consolidated Financial Statements contained in the 2014 Form 10-K.
 
Three months ended
June 30
 
Six months ended
June 30
 
2015
 
2014
 
2015
 
2014
Net sales
 
 
 
 
 
 
 
Electrical Products
$
1,784

 
$
1,832

 
$
3,475

 
$
3,558

Electrical Systems and Services
1,502

 
1,628

 
2,950

 
3,152

Hydraulics
643

 
787

 
1,308

 
1,569

Aerospace
454

 
486

 
918

 
950

Vehicle
989

 
1,034

 
1,944

 
2,030

Total net sales
$
5,372

 
$
5,767

 
$
10,595

 
$
11,259

 
 
 
 
 
 
 
 
Segment operating profit
 
 
 
 
 
 
 
Electrical Products
$
276

 
$
300

 
$
536

 
$
550

Electrical Systems and Services
223

 
194

 
409

 
363

Hydraulics
74

 
94

 
140

 
202

Aerospace
77

 
69

 
154

 
131

Vehicle
190

 
155

 
354

 
306

Total segment operating profit
840

 
812

 
1,593

 
1,552

 
 
 
 
 
 
 
 
Corporate
 
 
 
 
 
 
 
Litigation settlements

 
(644
)
 

 
(644
)
Amortization of intangible assets
(102
)
 
(109
)
 
(204
)
 
(219
)
Interest expense - net
(59
)
 
(55
)
 
(116
)
 
(117
)
Pension and other postretirement benefits expense
(33
)
 
(32
)
 
(61
)
 
(83
)
Other corporate (expense) benefit - net
(48
)
 
85

 
(109
)
 
21

Income before income taxes
598

 
57

 
1,103

 
510

Income tax expense (benefit)
63

 
(115
)
 
101

 
(103
)
Net income
535

 
172

 
1,002

 
613

Less net income for noncontrolling interests

 
(1
)
 
(1
)
 
(3
)
Net income attributable to Eaton ordinary shareholders
$
535

 
$
171

 
$
1,001

 
$
610