Balance Sheet: Liabilities and Stockholders’ Equity
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Eaton Corp. plc pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
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Eaton Corp. plc, consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 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).
The company’s liabilities and stockholders’ equity exhibited notable shifts between 2021 and 2025. Total liabilities generally increased over the period, while stockholders’ equity demonstrated a more volatile pattern. A detailed examination of specific liability and equity components reveals key trends.
- Current Liabilities
- Current liabilities decreased from US$7.212 billion in 2021 to US$6.360 billion in 2022, then increased steadily to US$9.370 billion by 2025. This increase was primarily driven by a substantial rise in accounts payable, which grew from US$2.797 billion to US$4.168 billion over the five-year period. Short-term debt experienced significant volatility, peaking at US$324 million in 2022 before declining sharply and stabilizing at US$1 million in 2025. The current portion of long-term debt also showed fluctuation, with a decrease in 2022 followed by a rise to US$1.136 billion in 2025.
- Noncurrent Liabilities
- Noncurrent liabilities generally increased from US$10.364 billion in 2021 to US$12.412 billion in 2025. Long-term debt, excluding the current portion, remained relatively stable, fluctuating between US$8.244 billion and US$8.758 billion. Pension liabilities and other postretirement benefits liabilities both decreased slightly over the period. Noncurrent operating lease liabilities increased consistently, reaching US$637 million in 2025. Deferred income taxes decreased from US$559 million to US$265 million, while other noncurrent liabilities showed a moderate increase.
- Total Liabilities
- Total liabilities increased from US$17.576 billion in 2021 to US$21.782 billion in 2025, reflecting the combined trends in current and noncurrent liabilities. The most significant year-over-year increase occurred between 2024 and 2025.
- Stockholders’ Equity
- Total Eaton shareholders’ equity increased from US$16.413 billion in 2021 to US$19.036 billion in 2023, then decreased to US$18.488 billion in 2024 before recovering to US$19.425 billion in 2025. Capital in excess of par value demonstrated consistent growth, increasing from US$12.449 billion to US$12.837 billion. Retained earnings increased significantly between 2021 and 2023, peaking at US$10.305 billion, but decreased in 2024 before rising again in 2025. Accumulated other comprehensive loss consistently increased, reaching US$4.118 billion in 2025. Noncontrolling interests remained relatively stable.
- Total Liabilities and Equity
- Total liabilities and equity increased from US$34.027 billion in 2021 to US$41.251 billion in 2025, mirroring the overall growth in both liabilities and equity. The decrease observed in 2024 was driven by a reduction in total equity.
In summary, the company experienced growth in both its liabilities and equity positions over the five-year period. The increase in liabilities was largely attributable to rising accounts payable and overall growth in noncurrent obligations. Equity growth was driven by increases in capital in excess of par value and retained earnings, offset by increasing accumulated other comprehensive loss.