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, consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
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).
- Short-term debt
- There was a significant increase from 1 million US dollars in 2020 to 324 million US dollars in 2022, followed by a sharp decline to 8 million in 2023. Data for 2024 is not available.
- Current portion of long-term debt
- The current portion fluctuated notably, peaking at 1,735 million in 2021, dropping dramatically to 10 million in 2022, increasing again to 1,017 million in 2023, and decreasing to 674 million in 2024. This indicates variability in short-term debt obligations inside long-term financing.
- Accounts payable
- Accounts payable steadily increased over the five-year period from 1,987 million US dollars in 2020 to 3,678 million in 2024, reflecting growing obligations to suppliers or service providers.
- Accrued compensation
- Accrued compensation showed an upward trend overall, rising from 351 million in 2020 to a peak of 676 million in 2023, with a slight decline to 670 million in 2024.
- Liabilities held for sale
- This item was recorded only in 2020 at 468 million and is absent in subsequent years, suggesting that related liabilities were settled or reclassified.
- Other current liabilities
- These liabilities increased consistently from 2,027 million in 2020 to 2,835 million in 2024, indicating growing miscellaneous short-term obligations.
- Current liabilities
- Current liabilities exhibited fluctuations, increasing from 5,881 million in 2020 to 7,212 million in 2021, then decreasing to 6,360 million in 2022, before rising again to 7,747 million in 2023 and marginally higher to 7,857 million in 2024. Overall, a general upward trend is observed despite variations.
- Long-term debt, excluding current portion
- Long-term debt showed gradual growth from 7,010 million in 2020 to 8,478 million in 2024, with the highest value recorded in 2024.
- Pension liabilities
- A declining trend was notable in pension liabilities, falling from 1,588 million in 2020 to 641 million in 2022, with slight increases in 2023 and a small decrease again in 2024 to 741 million.
- Other postretirement benefits liabilities
- These liabilities decreased steadily from 330 million in 2020 to 164 million in 2024, indicating a reduction in obligations related to postretirement benefits other than pensions.
- Noncurrent operating lease liabilities
- There has been a consistent increase in noncurrent operating lease liabilities from 326 million in 2020 to 669 million in 2024, nearly doubling over the period.
- Deferred income taxes
- Deferred income taxes fluctuated, rising from 277 million in 2020 to a peak of 559 million in 2021, then decreased to 275 million by 2024, signaling variability in tax-related deferred liabilities.
- Other noncurrent liabilities
- Other noncurrent liabilities remained relatively stable with minor fluctuations, mostly increasing slightly from 1,439 million in 2020 to 1,667 million in 2024.
- Noncurrent liabilities
- Noncurrent liabilities demonstrated moderate overall growth from 10,970 million in 2020 to 11,994 million in 2024, with some variation in intervening years.
- Total liabilities
- Total liabilities showed a consistent upward trend from 16,851 million in 2020 to 19,851 million in 2024, reflecting an increase in the company’s financial obligations over the five years.
- Ordinary shares
- The value of ordinary shares remained constant at 4 million throughout the period.
- Capital in excess of par value
- This item displayed a steady incremental increase each year from 12,329 million in 2020 to 12,731 million in 2024, indicating gradual additional capital contributions or related equity transactions.
- Retained earnings
- Retained earnings increased significantly from 6,794 million in 2020 to a peak of 10,305 million in 2023 before a slight decline to 10,096 million in 2024, demonstrating growth in accumulated profits less dividends.
- Accumulated other comprehensive loss
- The accumulated other comprehensive loss fluctuated over the years, improving from -4,195 million in 2020 to -3,633 million in 2021, then deteriorating to -4,342 million in 2024, indicating variability in unrealized losses recognized in equity.
- Shares held in trust
- Shares held in trust were minimal and stable, recorded at -2 million in 2020 and remaining at -1 million for subsequent years.
- Total Eaton shareholders’ equity
- Shareholders’ equity generally increased from 14,930 million in 2020 to a peak of 19,036 million in 2023 before decreasing to 18,488 million in 2024, reflecting fluctuations in overall equity value.
- Noncontrolling interests
- Noncontrolling interests slightly varied between 33 million and 43 million without a clear trend during the period.
- Total equity
- Total equity showed a rising trend from 14,973 million in 2020 to 19,069 million in 2023, followed by a decrease to 18,531 million in 2024, consistent with the changes observed in shareholders’ equity.
- Total liabilities and equity
- The sum of liabilities and equity increased steadily from 31,824 million in 2020 to a peak of 38,432 million in 2023, with a marginal decline to 38,382 million in 2024, indicating overall growth in the company’s financing structure size.