$ETN
Eaton Corp plc

2013 Q1 Form 10-Q Financial Statement

#000155118213000011 Filed on May 03, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $5.310B $3.960B
YoY Change 34.09% 4.13%
Cost Of Revenue $3.735B $2.754B
YoY Change 35.62% 2.68%
Gross Profit $1.575B $1.206B
YoY Change 30.6% 7.58%
Gross Profit Margin 29.66% 30.45%
Selling, General & Admin $958.0M $702.0M
YoY Change 36.47% 5.56%
% of Gross Profit 60.83% 58.21%
Research & Development $152.0M $105.0M
YoY Change 44.76% 0.0%
% of Gross Profit 9.65% 8.71%
Depreciation & Amortization $245.0M $140.0M
YoY Change 75.0% 0.72%
% of Gross Profit 15.56% 11.61%
Operating Expenses $1.110B $807.0M
YoY Change 37.55% 7.03%
Operating Profit $723.0M $544.0M
YoY Change 32.9% 48.23%
Interest Expense -$75.00M -$28.00M
YoY Change 167.86% -12.5%
% of Operating Profit -10.37% -5.15%
Other Income/Expense, Net $10.00M -$3.000M
YoY Change -433.33%
Pretax Income $400.0M $368.0M
YoY Change 8.7% 9.85%
Income Tax $20.00M $57.00M
% Of Pretax Income 5.0% 15.49%
Net Earnings $380.0M $311.0M
YoY Change 22.19% 8.36%
Net Earnings / Revenue 7.16% 7.85%
Basic Earnings Per Share $0.80 $0.93
Diluted Earnings Per Share $0.79 $0.91
COMMON SHARES
Basic Shares Outstanding 471.9M shares 335.4M shares
Diluted Shares Outstanding 475.1M shares 339.8M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.036B $811.0M
YoY Change 27.74% 16.36%
Cash & Equivalents $639.0M $367.0M
Short-Term Investments $397.0M $444.0M
Other Short-Term Assets $1.081B $704.0M
YoY Change 53.55% 10.0%
Inventory $2.394B $1.779B
Prepaid Expenses
Receivables $3.685B $2.588B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.196B $5.882B
YoY Change 39.34% 7.53%
LONG-TERM ASSETS
Property, Plant & Equipment $3.841B $2.660B
YoY Change 44.4% 5.43%
Goodwill $14.28B
YoY Change
Intangibles $6.664B
YoY Change
Long-Term Investments
YoY Change
Other Assets $898.0M $1.654B
YoY Change -45.71% 12.44%
Total Long-Term Assets $26.78B $12.11B
YoY Change 121.13% 2.06%
TOTAL ASSETS
Total Short-Term Assets $8.196B $5.882B
Total Long-Term Assets $26.78B $12.11B
Total Assets $34.98B $17.99B
YoY Change 94.39% 3.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.978B $1.530B
YoY Change 29.28% 5.08%
Accrued Expenses $318.0M $297.0M
YoY Change 7.07% -1.0%
Deferred Revenue
YoY Change
Short-Term Debt $84.00M $86.00M
YoY Change -2.33% -7.53%
Long-Term Debt Due $569.0M $319.0M
YoY Change 78.37% 7875.0%
Total Short-Term Liabilities $4.903B $3.565B
YoY Change 37.53% 11.37%
LONG-TERM LIABILITIES
Long-Term Debt $9.473B $3.345B
YoY Change 183.2% -0.27%
Other Long-Term Liabilities $862.0M $2.679B
YoY Change -67.82% 8.77%
Total Long-Term Liabilities $14.86B $6.024B
YoY Change 146.75% 3.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.903B $3.565B
Total Long-Term Liabilities $14.86B $6.024B
Total Liabilities $19.77B $10.06B
YoY Change 96.49% 5.3%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.17B $7.933B
YoY Change
Total Liabilities & Shareholders Equity $34.98B $17.99B
YoY Change 94.39% 3.78%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $380.0M $311.0M
YoY Change 22.19% 8.36%
Depreciation, Depletion And Amortization $245.0M $140.0M
YoY Change 75.0% 0.72%
Cash From Operating Activities $100.0M -$98.00M
YoY Change -202.04% -67.76%
INVESTING ACTIVITIES
Capital Expenditures $122.0M $105.0M
YoY Change 16.19% -219.32%
Acquisitions -$8.000M $0.00
YoY Change
Other Investing Activities -$2.000M $16.00M
YoY Change -112.5% -95.48%
Cash From Investing Activities $773.0M $141.0M
YoY Change 448.23% -46.99%
FINANCING ACTIVITIES
Cash Dividend Paid $194.0M $127.0M
YoY Change 52.76%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$810.0M -$69.00M
YoY Change 1073.91% -34.91%
NET CHANGE
Cash From Operating Activities $100.0M -$98.00M
Cash From Investing Activities $773.0M $141.0M
Cash From Financing Activities -$810.0M -$69.00M
Net Change In Cash $63.00M -$26.00M
YoY Change -342.31% -81.94%
FREE CASH FLOW
Cash From Operating Activities $100.0M -$98.00M
Capital Expenditures $122.0M $105.0M
Free Cash Flow -$22.00M -$203.0M
YoY Change -89.16% -6.02%

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CY2013Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
84000000 USD
CY2013Q1 us-gaap Short Term Investments
ShortTermInvestments
397000000 USD
CY2013Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
62000000 USD
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
15167000000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
15086000000 USD
CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15210000000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15128000000 USD
CY2013Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3200000 shares
CY2012Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4400000 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
475100000 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
339800000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
471900000 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
335400000 shares
CY2013Q1 etn Accumulated Other Comprehensve Gain Cash Flow Hedges Income Tax Expense
AccumulatedOtherComprehensveGainCashFlowHedgesIncomeTaxExpense
0 USD
CY2013Q1 etn Acquisition Integration After Tax Charges
AcquisitionIntegrationAfterTaxCharges
22000000 USD
CY2012Q1 etn Acquisition Integration After Tax Charges
AcquisitionIntegrationAfterTaxCharges
2000000 USD
CY2012Q1 etn Acquisition Integration Charges Per Common Share
AcquisitionIntegrationChargesPerCommonShare
0.01
CY2013Q1 etn Acquisition Integration Charges Per Common Share
AcquisitionIntegrationChargesPerCommonShare
0.05
CY2013Q1 etn Amortization Of Defined Benefit Pension Reclassifications Before Tax
AmortizationOfDefinedBenefitPensionReclassificationsBeforeTax
-49000000 USD
CY2012Q2 etn Bridge Facility Length Of Time
BridgeFacilityLengthOfTime
364 days
CY2012Q1 etn Business Acquisition Integration Charges Before Income Taxes
BusinessAcquisitionIntegrationChargesBeforeIncomeTaxes
3000000 USD
CY2013Q1 etn Business Acquisition Integration Charges Before Income Taxes
BusinessAcquisitionIntegrationChargesBeforeIncomeTaxes
26000000 USD
CY2013Q1 etn Cash Flow Hedge Gain Loss Reclassified To Earnings Net After Tax
CashFlowHedgeGainLossReclassifiedToEarningsNetAfterTax
1000000 USD
CY2012Q1 etn Corporate Interest Expense
CorporateInterestExpense
28000000 USD
CY2013Q1 etn Corporate Interest Expense
CorporateInterestExpense
75000000 USD
CY2012Q3 etn Court Of Appeals Third District Judgment Reversal In Favor Of Meritor
CourtOfAppealsThirdDistrictJudgmentReversalInFavorOfMeritor
0 USD
CY2013Q1 etn Debt Denominated In Foreign Currency Designated As Non Derivative Net Investment Hedging Instrument
DebtDenominatedInForeignCurrencyDesignatedAsNonDerivativeNetInvestmentHedgingInstrument
106000000 USD
CY2012Q4 etn Debt Denominated In Foreign Currency Designated As Non Derivative Net Investment Hedging Instrument
DebtDenominatedInForeignCurrencyDesignatedAsNonDerivativeNetInvestmentHedgingInstrument
116000000 USD
CY2011Q3 etn Final Judgment Of Eatons Liability By Us District Court In Meritor Lawsuit
FinalJudgmentOfEatonsLiabilityByUsDistrictCourtInMeritorLawsuit
0 USD
CY2013Q1 etn Inventory Step Up Adjustment
InventoryStepUpAdjustment
33000000 USD
CY2012Q1 etn Inventory Step Up Adjustment
InventoryStepUpAdjustment
2000000 USD
CY2012Q4 etn Irs Statutory Notice Of Deficiency Proposed Assessment Of Additional Federal Taxes
IrsStatutoryNoticeOfDeficiencyProposedAssessmentOfAdditionalFederalTaxes
75000000 USD
CY2011Q2 etn Meritor Judgment Motion Denial Zero Damages And No Injuctive Relief
MeritorJudgmentMotionDenialZeroDamagesAndNoInjuctiveRelief
0 USD
CY2013Q1 etn Net Amortization Of Defined Benefit Items After Tax
NetAmortizationOfDefinedBenefitItemsAfterTax
-32000000 USD
CY2012Q4 etn Non Cash Restructuring Charges
NonCashRestructuringCharges
16000000 USD
CY2012Q1 etn Other Corporate Expense Net
OtherCorporateExpenseNet
63000000 USD
CY2013Q1 etn Other Corporate Expense Net
OtherCorporateExpenseNet
70000000 USD
CY2012Q4 etn Penalties Associated With Irs Statutory Notice Of Deficiency Proposed Assessment
PenaltiesAssociatedWithIrsStatutoryNoticeOfDeficiencyProposedAssessment
52000000 USD
CY2013Q1 etn Percentage Of Intercompany Balance Sheet Exposure
PercentageOfIntercompanyBalanceSheetExposure
1
CY2013Q1 etn Tax Expense Benefit On Amortization Of Defined Benefit Pension Items
TaxExpenseBenefitOnAmortizationOfDefinedBenefitPensionItems
-17000000 USD
CY2013Q1 etn Total Acquistiion Integration Charges And Transaction Costs Before Income Taxes
TotalAcquistiionIntegrationChargesAndTransactionCostsBeforeIncomeTaxes
31000000 USD
CY2012Q1 etn Total Acquistiion Integration Charges And Transaction Costs Before Income Taxes
TotalAcquistiionIntegrationChargesAndTransactionCostsBeforeIncomeTaxes
3000000 USD
CY2012Q1 etn Total Business Acquistion Transaction Cost
TotalBusinessAcquistionTransactionCost
0 USD
CY2013Q1 etn Total Business Acquistion Transaction Cost
TotalBusinessAcquistionTransactionCost
5000000 USD
CY2013Q1 etn Total Reclassification Out Of Accumulated Other Comprehensive Income After Tax
TotalReclassificationOutOfAccumulatedOtherComprehensiveIncomeAfterTax
-31000000 USD
CY2013Q1 dei Amendment Flag
AmendmentFlag
false
CY2013Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013Q1 dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
CY2013Q1 dei Document Type
DocumentType
10-Q
CY2013Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001551182
CY2013Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
473100000 shares
CY2013Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q2 dei Entity Public Float
EntityPublicFloat
13400000000 USD
CY2013Q1 dei Entity Registrant Name
EntityRegistrantName
Eaton Corp plc
CY2013Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

Name View Source Status
0001551182-13-000011-index-headers.html Edgar Link pending
0001551182-13-000011-index.html Edgar Link pending
0001551182-13-000011.txt Edgar Link pending
0001551182-13-000011-xbrl.zip Edgar Link pending
etn-20130331.xml Edgar Link completed
etn-20130331.xsd Edgar Link pending
etn-20130331_cal.xml Edgar Link unprocessable
etn-20130331_def.xml Edgar Link unprocessable
etn-20130331_lab.xml Edgar Link unprocessable
etn-20130331_pre.xml Edgar Link unprocessable
etn0331201310-q.htm Edgar Link pending
etn03312013ex10ss.htm Edgar Link pending
etn03312013ex10tt.htm Edgar Link pending
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