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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash $ 622 $ 555
Short-term investments 181 1,525
Accounts receivable - net 5,387 4,619
Inventory 4,721 4,227
Prepaid expenses and other current assets 1,444 874
Total current assets 12,355 11,801
Property, plant and equipment    
Land and buildings 2,361 2,239
Machinery and equipment 7,667 6,823
Gross property, plant and equipment 10,028 9,062
Accumulated depreciation (5,712) (5,333)
Net property, plant and equipment 4,316 3,729
Other noncurrent assets    
Goodwill 15,769 14,713
Other intangible assets 5,054 4,658
Operating lease assets 768 806
Deferred income taxes 707 609
Other assets 2,281 2,066
Total assets 41,251 38,381
Current liabilities    
Short-term debt 1 0
Current portion of long-term debt 1,136 674
Accounts payable 4,168 3,678
Accrued compensation 644 670
Other current liabilities 3,421 2,835
Total current liabilities 9,370 7,857
Noncurrent liabilities    
Long-term debt 8,758 8,478
Pension liabilities 702 741
Other postretirement benefits liabilities 161 164
Operating lease liabilities 637 669
Deferred income taxes 265 275
Other noncurrent liabilities 1,889 1,667
Total noncurrent liabilities 12,412 11,994
Shareholders’ equity    
Ordinary shares (387.9 million outstanding in 2025 and 392.9 million in 2024) 4 4
Capital in excess of par value 12,837 12,731
Retained earnings 10,702 10,096
Accumulated other comprehensive loss (4,118) (4,342)
Shares held in trust 0 (1)
Total Eaton shareholders’ equity 19,425 18,488
Noncontrolling interests 44 43
Total equity 19,469 18,531
Total liabilities and equity $ 41,251 $ 38,381