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EQUITY (Tables)
 9 Months Ended
Sep. 30, 2017
Stockholders' Equity Note [Abstract]  
Changes in Shareholders' equity
The changes in Shareholders’ equity follow:
 
Eaton
shareholders’
equity
 
Noncontrolling
interests
 
Total
equity
Balance at December 31, 2016
$
14,897

 
$
44

 
$
14,941

Cumulative-effect adjustment upon adoption of ASU 2016-09
48

 
—

 
48

Net income
2,346

 
1

 
2,347

Other comprehensive income
785

 
—

 
785

Cash dividends paid
(803
)
 
(3
)
 
(806
)
Issuance of shares under equity-based compensation plans - net
109

 
—

 
109

Repurchase of shares
(789
)
 
—

 
(789
)
Changes in noncontrolling interest - net
—

 
1

 
1

Balance at September 30, 2017
$
16,593

 
$
43

 
$
16,636
Schedule of Accumulated Other Comprehensive Loss
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, 2016
$
(3,062
)
 
$
(1,380
)
 
$
(6
)
 
$
(4,448
)
Other comprehensive (loss) income
   before reclassifications
743

 
(46
)
 
(19
)
 
678

Amounts reclassified from Accumulated other
   comprehensive loss (income)
—

 
99

 
8

 
107

Net current-period Other comprehensive
   income (loss)
743

 
53

 
(11
)
 
785

Balance at September 30, 2017
$
(2,319
)
 
$
(1,327
)
 
$
(17
)
 
$
(3,663
)
Reclassification Out of Accumulated Other Comprehensive Loss
The reclassifications out of Accumulated other comprehensive loss follow:
 
Nine months ended September 30, 2017
 
Consolidated statements
of income classification
Amortization of defined benefit pensions and other postretirement benefits items
 
 
 
Actuarial loss and prior service cost
$
(146
)
1 
 
Tax benefit
47

 
 
Total, net of tax
(99
)
 
 
 
 
 
 
Gains and (losses) on cash flow hedges
 
 
 
Currency exchange contracts
(12
)
 
Cost of products sold
Tax benefit
4

 
 
Total, net of tax
(8
)
 
 
 
 
 
 
Total reclassifications for the period
$
(107
)
 
 

1 These components of Accumulated other comprehensive loss are included in the computation of net periodic benefit cost. See Note 7 for additional information about pension and other postretirement benefits items.
Calculation of Net Income Per Ordinary Share Attributable to Shareholders
A summary of the calculation of net income per share attributable to Eaton ordinary shareholders follows:
 
Three months ended
September 30
 
Nine months ended
September 30
(Shares in millions)
2017
 
2016
 
2017
 
2016
Net income attributable to Eaton ordinary shareholders
$
1,399

 
$
523

 
$
2,346

 
$
1,418

 
 
 
 
 
 
 
 
Weighted-average number of ordinary shares outstanding - diluted
445.2

 
455.6

 
448.3

 
457.9

Less dilutive effect of equity-based compensation
2.6

 
1.7

 
2.4

 
1.4

Weighted-average number of ordinary shares outstanding - basic
442.6

 
453.9

 
445.9

 
456.5

 
 
 
 
 
 
 
 
Net income per share attributable to Eaton ordinary shareholders
 
 
 
 
 
 
 
Diluted
$
3.14

 
$
1.15

 
$
5.23

 
$
3.09

Basic
3.16

 
1.15

 
5.26

 
3.10