Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Eaton Corp. plc, consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net income
- Net income experienced fluctuations across the periods, with a notable dip in Q2 2020 reaching 54 million USD. Afterwards, it exhibited an overall upward trend, peaking at 1,011 million USD in Q3 2024, before slightly declining in subsequent quarters but remaining high relative to earlier periods.
- Depreciation and amortization
- Depreciation and amortization amounts remained relatively stable, mostly fluctuating between 225 and 247 million USD, indicating consistency in asset usage and amortization schedules over time with no significant spikes.
- Deferred income taxes
- Deferred income taxes showed notable volatility with alternating positive and negative values, ranging from a low of -113 million USD in Q4 2022 to a positive peak of 32 million USD in Q2 2024. The instability suggests variability in temporary differences and tax timing effects.
- Pension and other postretirement benefits expense
- This expense declined considerably from around 50-55 million USD in 2020 to a lower range of 2-9 million USD in most recent quarters, reflecting reduced pension costs or plan modifications.
- Contributions to pension plans
- Contributions were largely negative, indicating cash outflows. A significant surge in Q2 2021 was observed at -243 million USD and an even larger outflow in Q2 2021 at -2,800 million USD is likely a data anomaly or a major pension funding event. Aside from this, contributions generally fluctuated between -18 and -50 million USD, showing recurring cash commitments to pension obligations.
- Changes in working capital
- Working capital changes fluctuated considerably, with notable large negative shifts such as -785 million USD in Q1 2022 and -913 million USD in Q1 2025. Positive recoveries occurred intermittently, reflecting variable operational cash flow impacts from receivables, payables, and inventory management.
- Net cash from operating activities
- The cash provided by operating activities showed strong fluctuation. After a dip to 42 million USD in Q1 2022, a steady recovery ensued, culminating in a peak of 1,597 million USD in Q4 2024, reflecting strong operational cash generation in latter periods.
- Capital expenditures for property, plant and equipment
- Capital spending increased over time, rising from approximately 90-98 million USD in early 2020 to peak at 255 million USD in Q4 2024. This trend suggests growing investment in fixed assets or expansion activities.
- Proceeds from sales of property, plant and equipment
- Proceeds from such sales were irregular and relatively minor compared to expenditures, with occasional spikes such as 88 million USD in Q2 2022. Generally, these inflows did not offset capital expenditures.
- Cash paid for acquisition of business, net of cash acquired
- Significant outflows occurred in certain quarters, notably -1,700 million USD in Q2 2021 and -2,800 million USD in Q3 2021, indicating major acquisition activities during that period, followed by smaller acquisitions or divestitures in later quarters.
- Net cash used in investing activities
- Investing activities mostly showed net cash outflows, especially in periods with acquisition investments, with a high negative of -2,282 million USD in Q3 2021. Occasional positive values in later years reflect divestitures or proceeds from asset sales partially offsetting investments.
- Proceeds from borrowings
- Borrowing proceeds appeared sporadically, with significant inflows such as 1,798 million USD in Q1 2021, 1,995 million USD in Q3 2022, and smaller amounts thereafter, indicating strategic financing or refinancing activities at key intervals.
- Payments on borrowings
- Borrowing repayments were intermittent but included substantial payments such as -2,002 million USD in Q3 2022, suggesting efforts to reduce debt levels following earlier borrowings.
- Short-term debt, net
- Short-term debt fluctuated significantly, with movements reflecting both increases and repayments of debt. The net position ranged from positive figures over 2,900 million USD in Q2 2021 to negative positions below -600 million USD in some periods, implying active short-term debt management.
- Cash dividends paid
- Dividends were relatively stable and increased modestly over time, moving from approximately 291 million USD quarterly in 2020 to nearly 397 million USD by Q1 2025, reflecting gradual growth in shareholder return policy.
- Repurchase of shares
- Share repurchases were significant particularly early on, with notable amounts like -1,300 million USD in Q1 2020 and periodic buybacks continuing through to 2024, indicating active capital return strategies in certain periods.
- Net cash provided by (used in) financing activities
- Financing activities showed volatilities, including large positive infusions such as 1,875 million USD in Q2 2021 and heavy outflows exceeding -1,800 million USD by Q1 2024. This mix highlights shifting financing needs, involving debt issuance, repayments, dividends, and buybacks.
- Effect of currency on cash
- This effect was generally minor with small positive and negative values, indicating no material impact on cash balances from currency fluctuations over the periods examined.
- Increase (decrease) in cash
- Cash balance changes were irregular, with mostly moderate fluctuations except for a large increase of 1,221 million USD in Q1 2025, likely reflecting a strong liquidity event or cash inflow in that quarter.