Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

Eaton Corp. plc, adjusted current assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current assets	11,675)	8,746)	7,511)	9,178)	8,728)
Adjustments
Add: Allowance for credit losses	38)	31)	42)	48)	49)
After Adjustment
Adjusted current assets	11,713)	8,777)	7,553)	9,226)	8,777)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Eaton Corp. plc, adjusted total assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	38,432)	35,014)	34,027)	31,824)	32,805)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowance for credit losses	38)	31)	42)	48)	49)
Less: Deferred income taxes, noncurrent assets²	458)	330)	392)	426)	372)
After Adjustment
Adjusted total assets	38,012)	34,715)	33,677)	31,446)	32,482)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred income taxes, noncurrent assets. See details »

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Eaton Corp. plc, adjusted current liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current liabilities	7,747)	6,360)	7,212)	5,881)	5,132)
Adjustments
Less: Current deferred revenue liabilities	610)	489)	395)	230)	234)
After Adjustment
Adjusted current liabilities	7,137)	5,871)	6,817)	5,651)	4,898)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Eaton Corp. plc, adjusted total liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	19,363)	17,940)	17,576)	16,851)	16,672)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred income taxes, noncurrent liabilities²	402)	530)	559)	277)	396)
Less: Deferred revenue liabilities	626)	508)	422)	257)	234)
Less: Product warranty accruals	136)	125)	125)	151)	187)
Less: Liabilities related to workforce reductions, plant closing and other associated costs	41)	41)	104)	142)	—)
After Adjustment
Adjusted total liabilities	18,158)	16,736)	16,366)	16,024)	15,855)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred income taxes, noncurrent liabilities. See details »

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Eaton Corp. plc, adjusted total Eaton shareholders’ equity

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total Eaton shareholders’ equity	19,036)	17,038)	16,413)	14,930)	16,082)
Adjustments
Less: Deferred income taxes, noncurrent assets and liabilities¹	56)	(200)	(167)	152)	(23)
Add: Allowance for credit losses	38)	31)	42)	48)	49)
Add: Deferred revenue liabilities	626)	508)	422)	257)	234)
Add: Product warranty accruals	136)	125)	125)	151)	187)
Add: Liabilities related to workforce reductions, plant closing and other associated costs	41)	41)	104)	142)	—)
Add: Noncontrolling interests	33)	37)	38)	43)	51)
After Adjustment
Adjusted total equity	19,854)	17,980)	17,311)	15,419)	16,626)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Deferred income taxes, noncurrent assets and liabilities. See details »

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Eaton Corp. plc, adjusted capitalization table

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Short-term debt	8)	324)	13)	1)	255)
Current portion of long-term debt	1,017)	10)	1,735)	1,047)	248)
Long-term debt, excluding current portion	8,244)	8,321)	6,831)	7,010)	7,819)
Total reported debt	9,269)	8,655)	8,579)	8,058)	8,322)
Total Eaton shareholders’ equity	19,036)	17,038)	16,413)	14,930)	16,082)
Total reported capital	28,305)	25,693)	24,992)	22,988)	24,404)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Current operating lease liabilities (included in Other current liabilities)²	135)	127)	120)	116)	121)
Add: Noncurrent operating lease liabilities³	533)	459)	337)	326)	331)
Adjusted total debt	9,937)	9,241)	9,036)	8,500)	8,774)
Adjustments to Equity
Less: Deferred income taxes, noncurrent assets and liabilities⁴	56)	(200)	(167)	152)	(23)
Add: Allowance for credit losses	38)	31)	42)	48)	49)
Add: Deferred revenue liabilities	626)	508)	422)	257)	234)
Add: Product warranty accruals	136)	125)	125)	151)	187)
Add: Liabilities related to workforce reductions, plant closing and other associated costs	41)	41)	104)	142)	—)
Add: Noncontrolling interests	33)	37)	38)	43)	51)
Adjusted total equity	19,854)	17,980)	17,311)	15,419)	16,626)
After Adjustment
Adjusted total capital	29,791)	27,221)	26,347)	23,919)	25,400)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liabilities (included in Other current liabilities). See details »

³ Noncurrent operating lease liabilities. See details »

⁴ Deferred income taxes, noncurrent assets and liabilities. See details »

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Eaton Corp. plc, adjusted net sales

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net sales	23,196)	20,752)	19,628)	17,858)	21,390)
Adjustment
Add: Increase (decrease) in deferred revenue liabilities	118)	86)	165)	23)	(14)
After Adjustment
Adjusted net sales	23,314)	20,838)	19,793)	17,881)	21,376)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Eaton Corp. plc, adjusted net income attributable to Eaton ordinary shareholders

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income attributable to Eaton ordinary shareholders	3,218)	2,462)	2,144)	1,410)	2,211)
Adjustments
Add: Deferred income tax expense (benefit)¹	(182)	(128)	(30)	(125)	(58)
Add: Increase (decrease) in allowance for credit losses	7)	(11)	(6)	(1)	(6)
Add: Increase (decrease) in deferred revenue liabilities	118)	86)	165)	23)	(14)
Add: Increase (decrease) in product warranty accruals	11)	—)	(26)	(36)	11)
Add: Increase (decrease) in liabilities related to workforce reductions, plant closing and other associated costs	—)	(63)	(38)	142)	(15)
Add: Other comprehensive income (loss), net of tax	39)	(313)	562)	95)	(145)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	5)	4)	2)	5)	2)
After Adjustment
Adjusted net income	3,216)	2,037)	2,773)	1,513)	1,986)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Deferred income tax expense (benefit). See details »

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Eaton Corp. plc (NYSE:ETN)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income