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EQUITY | 3 Months Ended
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Mar. 31, 2018
Stockholders' Equity Note [Abstract] |
EQUITY | EQUITY During the first quarter of 2018 and 2017, 3.7 million and 3.6 million ordinary shares, respectively, were repurchased under the 2016 Program in the open market at a total cost of $300 and $255, respectively. The changes in Shareholders’ equity follow:
| Eaton shareholders’ equity |  | Noncontrolling interests |  | Total equity
Balance at December 31, 2017 | $ | 17,253 |  |  | $ | 37 |  |  | $ | 17,290 |
Cumulative-effect adjustment upon adoption of ASU 2014-09 | (2 | ) |  | — |  |  | (2 | )
Cumulative-effect adjustment upon adoption of ASU 2016-16 | (199 | ) |  | — |  |  | (199 | )
Net income (loss) | 488 |  |  | (1 | ) |  | 487 |
Other comprehensive income | 296 |  |  | — |  |  | 296 |
Cash dividends paid and accrued | (290 | ) |  | — |  |  | (290 | )
Issuance of shares under equity-based compensation plans - net | 17 |  |  | — |  |  | 17 |
Repurchase of shares | (300 | ) |  | — |  |  | (300 | )
Changes in noncontrolling interest - net | — |  |  | 2 |  |  | 2 |
Balance at March 31, 2018 | $ | 17,263 |  |  | $ | 38 |  |  | $ | 17,301 |
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, 2017 | $ | (2,255 | ) |  | $ | (1,139 | ) |  | $ | (10 | ) |  | $ | (3,404 | )
Other comprehensive (loss) income before reclassifications | 257 |  |  | (12 | ) |  | 10 |  |  | 255 |
Amounts reclassified from Accumulated other comprehensive loss (income) | — |  |  | 38 |  |  | 3 |  |  | 41 |
Net current-period Other comprehensive income (loss) | 257 |  |  | 26 |  |  | 13 |  |  | 296 |
Balance at March 31, 2018 | $ | (1,998 | ) |  | $ | (1,113 | ) |  | $ | 3 |  |  | $ | (3,108 | )
The reclassifications out of Accumulated other comprehensive loss follow:
| Three months ended March 31, 2018 |  | Consolidated statements of income classification
Amortization of defined benefit pensions and other postretirement benefits items |  |  |
Actuarial loss and prior service cost | $ | (45 | ) | 1 |
Tax benefit | 7 |  |  |
Total, net of tax | (38 | ) |  |
Gains and (losses) on cash flow hedges |  |  |
Currency exchange contracts | (4 | ) |  | Cost of products sold
Tax benefit | 1 |  |  |
Total, net of tax | (3 | ) |  |
Total reclassifications for the period | $ | (41 | ) |  |
1 These components of Accumulated other comprehensive loss are included in the computation of net periodic benefit cost. See Note 6 for additional information about pension and other postretirement benefits items. Net Income Per Share Attributable to Eaton Ordinary Shareholders A summary of the calculation of net income per share attributable to Eaton ordinary shareholders follows:
| Three months ended March 31
(Shares in millions) | 2018 |  | 2017
Net income attributable to Eaton ordinary shareholders | $ | 488 |  |  | $ | 434 |
Weighted-average number of ordinary shares outstanding - diluted | 441.7 |  |  | 451.0 |
Less dilutive effect of equity-based compensation | 2.9 |  |  | 2.2 |
Weighted-average number of ordinary shares outstanding - basic | 438.8 |  |  | 448.8 |
Net income per share attributable to Eaton ordinary shareholders |  |  |
Diluted | $ | 1.10 |  |  | $ | 0.96 |
Basic | 1.11 |  |  | 0.97 |
For the first quarter of 2018 and 2017, 0.1 million and 1.2 million stock options, respectively, were excluded from the calculation of diluted net income per share attributable to Eaton ordinary shareholders because the exercise price of the options exceeded the average market price of the ordinary shares during the period and their effect, accordingly, would have been antidilutive.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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