Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Eaton Corp. plc, consolidated balance sheet: assets

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash	555)	488)	294)	297)	438)
Short-term investments	1,525)	2,121)	261)	271)	664)
Accounts receivable, net	4,619)	4,475)	4,076)	3,297)	2,904)
Inventory	4,227)	3,739)	3,430)	2,969)	2,109)
Assets held for sale	—)	—)	—)	—)	2,487)
Prepaid expenses and other current assets	875)	852)	685)	677)	576)
Current assets	11,801)	11,675)	8,746)	7,511)	9,178)
Net property, plant and equipment	3,729)	3,530)	3,147)	3,064)	2,964)
Goodwill	14,713)	14,977)	14,796)	14,751)	12,903)
Other intangible assets	4,658)	5,091)	5,485)	5,855)	4,175)
Operating lease assets	806)	648)	570)	442)	428)
Deferred income taxes	609)	458)	330)	392)	426)
Other assets	2,065)	2,053)	1,940)	2,012)	1,750)
Other noncurrent assets	22,851)	23,227)	23,121)	23,452)	19,682)
Noncurrent assets	26,580)	26,757)	26,268)	26,516)	22,646)
Total assets	38,381)	38,432)	35,014)	34,027)	31,824)

Based on: 10-K (reporting date: 2024-12-31), 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).

Cash: Cash holdings experienced a decline from 438 million US dollars in 2020 to 294 million in 2022, followed by a significant increase to 555 million in 2024, indicating improved liquidity towards the end of the period.
Short-term investments: Short-term investments dropped sharply from 664 million in 2020 to 261 million in 2022, but rebounded substantially to 1,525 million by 2024, suggesting a strategic shift towards liquid assets in recent years.
Accounts receivable, net: Accounts receivable showed consistent growth over the entire period, increasing from 2,904 million in 2020 to 4,619 million in 2024. This trend points to higher sales or extended credit terms.
Inventory: Inventory levels rose steadily from 2,109 million in 2020 to 4,227 million in 2024, more than doubling over five years, which could reflect stock accumulation to meet growing demand or supply chain considerations.
Assets held for sale: Reported only in 2020 at 2,487 million, no data is available for subsequent years, which might indicate disposal or reclassification of these assets after 2020.
Prepaid expenses and other current assets: These assets showed moderate but steady growth from 576 million in 2020 to 875 million in 2024, suggesting increasing prepayments or other short-term asset accumulation.
Current assets: Despite fluctuations in individual components, total current assets decreased in 2021 to 7,511 million from 9,178 million in 2020 but then rose consistently to 11,801 million in 2024, reflecting improved liquidity and working capital management in the latter years.
Net property, plant and equipment: Net PP&E increased gradually from 2,964 million in 2020 to 3,729 million in 2024, indicating ongoing capital investment and expansion of fixed assets over the period.
Goodwill: Goodwill rose from 12,903 million in 2020 to a peak of 14,977 million in 2023, followed by a slight decline to 14,713 million in 2024. This pattern suggests acquisitions or asset revaluations early in the period with some reduction afterwards.
Other intangible assets: Other intangibles increased from 4,175 million in 2020 to a peak of 5,855 million in 2021, then decreased steadily to 4,658 million by 2024, indicating amortization or impairment of intangible assets.
Operating lease assets: Operating lease assets grew consistently every year from 428 million in 2020 to 806 million in 2024, reflecting an increased recognition or acquisition of leased assets.
Deferred income taxes: Deferred income taxes showed an overall increasing trend from 426 million in 2020 to 609 million in 2024, following a slight dip in 2021 and 2022, which may indicate growing timing differences or tax assets.
Other assets: Other assets increased moderately from 1,750 million in 2020 to 2,065 million in 2024, suggesting stable accumulation of miscellaneous asset categories.
Other noncurrent assets: Noncurrent other assets climbed from 19,682 million in 2020 to a peak of 23,452 million in 2021, then slightly declined to 22,851 million by 2024, indicating some reclassification or asset sales but overall sustained high levels.
Noncurrent assets: Total noncurrent assets increased from 22,646 million in 2020 to approximately 26,580 million in 2024, reflecting steady asset base growth over the period.
Total assets: The total asset base expanded from 31,824 million in 2020 to a peak of 38,432 million in 2023, then marginally decreased to 38,381 million in 2024, indicating overall growth in resources with relative stabilization in the final year.

Assets: Selected Items

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Eaton Corp. plc (NYSE:ETN)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items