Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Eaton Corp. plc, consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Short-term debt	1,111)	805)	—)	3)	4)	1)	8)	24)	94)	87)	324)	903)	1,392)	1,116)	13)	428)	3,373)	464)	1)	2)	139)	337)
Current portion of long-term debt	1,134)	1,666)	674)	714)	1,278)	994)	1,017)	975)	402)	8)	10)	23)	2,030)	1,728)	1,735)	116)	8)	1,012)	1,047)	1,251)	1,223)	250)
Accounts payable	3,762)	3,654)	3,678)	3,609)	3,497)	3,400)	3,365)	3,255)	3,192)	3,118)	3,072)	2,937)	3,013)	2,867)	2,797)	2,591)	2,484)	2,172)	1,987)	1,788)	1,620)	1,785)
Accrued compensation	529)	489)	670)	687)	529)	492)	676)	592)	465)	350)	467)	432)	363)	331)	501)	489)	425)	334)	351)	336)	254)	274)
Liabilities held for sale	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	527)	501)	468)	424)	432)	458)
Other current liabilities	3,058)	2,908)	2,835)	2,928)	2,812)	2,726)	2,681)	2,717)	2,572)	2,524)	2,487)	2,358)	2,176)	2,214)	2,166)	2,290)	2,089)	2,098)	2,027)	2,004)	1,821)	1,840)
Current liabilities	9,594)	9,522)	7,857)	7,941)	8,120)	7,613)	7,747)	7,563)	6,725)	6,087)	6,360)	6,653)	8,974)	8,256)	7,212)	5,914)	8,906)	6,581)	5,881)	5,805)	5,489)	4,944)
Long-term debt, excluding current portion	8,751)	7,609)	8,478)	8,678)	8,555)	8,192)	8,244)	8,150)	8,804)	8,701)	8,321)	8,082)	6,277)	6,763)	6,831)	8,520)	8,721)	8,682)	7,010)	6,948)	6,906)	7,842)
Pension liabilities	758)	733)	741)	709)	709)	730)	768)	611)	642)	651)	649)	817)	772)	831)	872)	1,029)	1,085)	1,283)	1,588)	1,343)	1,324)	1,324)
Other postretirement benefits liabilities	161)	162)	164)	174)	175)	177)	180)	170)	173)	174)	177)	246)	253)	260)	263)	273)	322)	326)	330)	319)	322)	322)
Noncurrent operating lease liabilities	587)	669)	669)	681)	656)	601)	533)	486)	482)	466)	459)	447)	386)	342)	337)	343)	366)	328)	326)	323)	320)	334)
Deferred income taxes	280)	267)	275)	387)	429)	419)	402)	460)	531)	537)	530)	527)	628)	635)	559)	494)	494)	445)	277)	306)	310)	354)
Other noncurrent liabilities	1,728)	1,696)	1,667)	1,504)	1,484)	1,478)	1,489)	1,429)	1,428)	1,417)	1,444)	1,489)	1,446)	1,465)	1,502)	1,541)	1,460)	1,398)	1,439)	1,423)	1,442)	1,437)
Noncurrent liabilities	12,265)	11,136)	11,994)	12,133)	12,008)	11,597)	11,616)	11,306)	12,060)	11,946)	11,580)	11,608)	9,762)	10,296)	10,364)	12,200)	12,448)	12,462)	10,970)	10,662)	10,624)	11,613)
Total liabilities	21,859)	20,658)	19,851)	20,074)	20,128)	19,210)	19,363)	18,869)	18,785)	18,033)	17,940)	18,261)	18,736)	18,552)	17,576)	18,114)	21,354)	19,043)	16,851)	16,467)	16,113)	16,557)
Ordinary shares	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)	4)
Capital in excess of par value	12,780)	12,712)	12,731)	12,695)	12,663)	12,630)	12,634)	12,604)	12,554)	12,502)	12,513)	12,478)	12,452)	12,427)	12,449)	12,411)	12,368)	12,335)	12,329)	12,266)	12,228)	12,203)
Retained earnings	9,917)	10,041)	10,096)	10,366)	10,622)	10,605)	10,305)	9,703)	9,156)	8,757)	8,468)	8,070)	7,886)	7,707)	7,594)	7,345)	7,068)	6,883)	6,794)	6,741)	6,767)	7,007)
Accumulated other comprehensive loss	(4,095)	(4,250)	(4,342)	(3,947)	(4,069)	(3,946)	(3,906)	(3,927)	(3,760)	(3,814)	(3,946)	(4,483)	(3,961)	(3,517)	(3,633)	(3,788)	(4,031)	(4,225)	(4,195)	(4,533)	(4,809)	(4,966)
Shares held in trust	—)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	—)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(2)	(2)	(2)	(2)	(3)
Total Eaton shareholders’ equity	18,606)	18,506)	18,488)	19,117)	19,219)	19,292)	19,036)	18,383)	17,953)	17,449)	17,038)	16,068)	16,380)	16,620)	16,413)	15,971)	15,408)	14,995)	14,930)	14,476)	14,188)	14,245)
Noncontrolling interests	41)	41)	43)	45)	35)	34)	33)	37)	35)	36)	37)	35)	36)	36)	38)	43)	42)	42)	43)	42)	47)	43)
Total equity	18,647)	18,547)	18,531)	19,162)	19,254)	19,326)	19,069)	18,420)	17,988)	17,485)	17,075)	16,103)	16,416)	16,656)	16,451)	16,014)	15,450)	15,037)	14,973)	14,518)	14,235)	14,288)
Total liabilities and equity	40,506)	39,205)	38,382)	39,236)	39,382)	38,536)	38,432)	37,289)	36,773)	35,518)	35,015)	34,364)	35,152)	35,208)	34,027)	34,128)	36,804)	34,080)	31,824)	30,985)	30,348)	30,845)

Short-term debt: The short-term debt fluctuated significantly over the periods, with initial low values in 2020 followed by a sharp increase in mid-2021, peaking at 3,373 million US$. Afterwards, it showed a declining trend, reaching single-digit values by late 2023 and early 2024. There is a data gap in the penultimate quarter of 2024, then a resurgence to above 800 million US$ by mid-2025.
Current portion of long-term debt: This liability demonstrated volatility, starting high at 1,223 million US$ in June 2020, decreasing considerably in 2021, then rising again sharply towards the end of 2021 and into early 2022. It fluctuated thereafter with values generally in the mid hundreds to low thousands, with clear peaks around late 2021 and early 2025.
Accounts payable: Accounts payable showed a consistent increasing trend across all periods, starting at 1,785 million US$ in early 2020 and progressively increasing to 3,762 million US$ by mid-2025, indicating a steady rise in the company’s obligations to suppliers or creditors over time.
Accrued compensation: The accrued compensation values fluctuated but generally trended upward from 274 million US$ in early 2020 to a peak of 687 million US$ in late 2023. This was followed by volatility and a moderate decrease in the most recent periods, ending around 529 million US$ in mid-2025.
Liabilities held for sale: These liabilities were consistently recorded from early 2020 through mid-2021, displaying a modest increase from 458 to 527 million US$. No data appeared thereafter, implying possible disposal or reclassification of these liabilities.
Other current liabilities: Other current liabilities steadily increased from 1,840 million US$ in early 2020 to 3,058 million US$ by mid-2025, with minor fluctuations. This reflects gradual growth in miscellaneous current obligations over the analyzed period.
Current liabilities: Current liabilities exhibited marked volatility, rising sharply from 4,944 million US$ in early 2020 to a peak of 8,906 million US$ in mid-2021. It then decreased notably by late 2022 before resuming an upward trend, culminating at 9,594 million US$ by mid-2025. The fluctuations suggest dynamic short-term financial management and possible refinancing activities.
Long-term debt, excluding current portion: Long-term debt showed variation with a general downward trend from 7,842 million US$ in early 2020 to around 6,277 million US$ in mid-2022. Subsequently, it increased again, reaching 8,751 million US$ by mid-2025, indicating periods of debt reduction followed by new borrowings or refinancing.
Pension liabilities: Pension liabilities declined steadily from 1,324 million US$ in early 2020 to lows near 649 million US$ at the end of 2022, followed by fluctuations and a slight uptick to around 758 million US$ by mid-2025. This suggests ongoing pension funding or adjustments impacting long-term obligations.
Other postretirement benefits liabilities: These liabilities gradually decreased from 322 million US$ in early 2020 to approximately 161 million US$ by mid-2025, indicating a consistent reduction in such obligations over time.
Noncurrent operating lease liabilities: Operating lease liabilities increased over the timeframe, from 334 million US$ in early 2020 to a peak of 681 million US$ in late 2023, followed by a slight decrease to 587 million US$ by mid-2025, reflecting evolving lease arrangements.
Deferred income taxes: Deferred income taxes showed some fluctuations, decreasing from 354 million US$ in early 2020 to around 275 million US$ by early 2024, with minor variations thereafter, suggesting adjustments in tax timing differences.
Other noncurrent liabilities: Other noncurrent liabilities remained relatively stable over the period, fluctuating between approximately 1,400 to 1,700 million US$, showing no significant secular trend but slight increases towards the end of the period.
Noncurrent liabilities: These liabilities decreased from 11,613 million US$ in early 2020 to a low near 9,762 million US$ in mid-2022, then gradually increased again, ending at about 12,265 million US$ by mid-2025. The pattern suggests repayment followed by new long-term obligations.
Total liabilities: Total liabilities followed a pattern of increase from 16,557 million US$ in early 2020 to a peak of 21,354 million US$ by mid-2021. It then decreased and fluctuated before rising again, reaching 21,859 million US$ by mid-2025, reflecting overall growth in obligations with marked interim volatility.
Ordinary shares: The value of ordinary shares remained constant at 4 million US$ throughout the entire period, indicating no changes in issued share capital or par value.
Capital in excess of par value: This component of equity gradually increased from 12,203 million US$ in early 2020 to 12,780 million US$ by mid-2025, denoting steady growth in capital contributed above par value.
Retained earnings: Retained earnings showed consistent growth from 7,007 million US$ in early 2020 to peak near 10,622 million US$ by late 2023. This was followed by a slight decline to just under 10,000 million US$ by mid-2025, suggesting periods of profit retention mixed with possible distributions or losses.
Accumulated other comprehensive loss: The accumulated other comprehensive loss decreased (improved) from -4,966 million US$ in early 2020 to a low near -3,517 million US$ by early 2022, then moved into a more negative territory again, ending near -4,095 million US$ by mid-2025, indicating fluctuations in other comprehensive income components.
Shares held in trust: Shares held in trust remained at a small negative value (-1 to -3 million US$) across all periods with negligible variation, suggesting minimal treasury or trust holdings.
Total Eaton shareholders’ equity: This equity measure increased from 14,245 million US$ in early 2020 to a peak of 19,292 million US$ by mid-2024. However, it slightly declined afterward to about 18,606 million US$ by mid-2025, reflecting overall growth in net assets with some recent contraction.
Noncontrolling interests: Noncontrolling interests remained relatively stable around 35 to 47 million US$, evidencing minor influence on overall equity composition.
Total equity: Total equity followed a growth trend from 14,288 million US$ in early 2020 to a high near 19,326 million US$ in mid-2024, followed by a modest decline to around 18,647 million US$ by mid-2025, paralleling the shareholders’ equity trend.
Total liabilities and equity: The total of liabilities and equity increased from 30,845 million US$ in early 2020 to 40,506 million US$ by mid-2025, indicating overall balance sheet expansion through growth in both liabilities and equity, despite interim fluctuations.

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Eaton Corp. plc (NYSE:ETN)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data