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EQUITY (Tables)
 3 Months Ended
Mar. 31, 2018
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, 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
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, 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
)
Reclassification Out of Accumulated Other Comprehensive Loss
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.
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 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