2014 Q3 Form 10-Q Financial Statement

#000155118214000036 Filed on October 31, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $5.728B $5.607B
YoY Change 2.16% 41.95%
Cost Of Revenue $3.916B $3.883B
YoY Change 0.85% 41.35%
Gross Profit $1.812B $1.724B
YoY Change 5.1% 43.31%
Gross Profit Margin 31.63% 30.75%
Selling, General & Admin $961.0M $967.0M
YoY Change -0.62% 40.76%
% of Gross Profit 53.04% 56.09%
Research & Development $163.0M $166.0M
YoY Change -1.81% 62.75%
% of Gross Profit 9.0% 9.63%
Depreciation & Amortization $244.0M $250.0M
YoY Change -2.4% 77.3%
% of Gross Profit 13.47% 14.5%
Operating Expenses $1.124B $1.133B
YoY Change -0.79%
Operating Profit $688.0M $846.0M
YoY Change -18.68% 48.68%
Interest Expense -$56.00M -$63.00M
YoY Change -11.11% 50.0%
% of Operating Profit -8.14% -7.45%
Other Income/Expense, Net $10.00M -$7.000M
YoY Change -242.86% -275.0%
Pretax Income $642.0M $521.0M
YoY Change 23.22% 38.56%
Income Tax $37.00M $7.000M
% Of Pretax Income 5.76% 1.34%
Net Earnings $602.0M $514.0M
YoY Change 17.12% 48.13%
Net Earnings / Revenue 10.51% 9.17%
Basic Earnings Per Share $1.27 $1.08
Diluted Earnings Per Share $1.26 $1.07
COMMON SHARES
Basic Shares Outstanding 474.8M shares 474.0M shares
Diluted Shares Outstanding 477.2M shares 477.2M shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $990.0M $1.340B
YoY Change -26.12% 28.23%
Cash & Equivalents $655.0M $642.0M
Short-Term Investments $335.0M $698.0M
Other Short-Term Assets $971.0M $1.073B
YoY Change -9.51% 52.41%
Inventory $2.498B $2.403B
Prepaid Expenses
Receivables $3.972B $3.950B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.431B $8.766B
YoY Change -3.82% 41.5%
LONG-TERM ASSETS
Property, Plant & Equipment $3.702B $3.757B
YoY Change -1.46% 34.47%
Goodwill $14.09B $14.28B
YoY Change -1.32%
Intangibles $6.739B $7.231B
YoY Change -6.8%
Long-Term Investments $0.00 $0.00
YoY Change
Other Assets $1.038B $954.0M
YoY Change 8.81% -44.53%
Total Long-Term Assets $25.81B $26.55B
YoY Change -2.78% -528.84%
TOTAL ASSETS
Total Short-Term Assets $8.431B $8.766B
Total Long-Term Assets $25.81B $26.55B
Total Assets $34.24B $35.31B
YoY Change -3.04% 739209.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.038B $1.976B
YoY Change 3.14% 37.13%
Accrued Expenses $424.0M $430.0M
YoY Change -1.4% 11.69%
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $88.00M
YoY Change -98.86% -18.52%
Long-Term Debt Due $412.0M $576.0M
YoY Change -28.47% 87.62%
Total Short-Term Liabilities $4.986B $5.054B
YoY Change -1.35% 105541.54%
LONG-TERM LIABILITIES
Long-Term Debt $8.587B $9.029B
YoY Change -4.9% 144.69%
Other Long-Term Liabilities $1.141B $1.065B
YoY Change 7.14% -58.9%
Total Long-Term Liabilities $12.61B $14.14B
YoY Change -10.84% 125.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.986B $5.054B
Total Long-Term Liabilities $12.61B $14.14B
Total Liabilities $17.59B $19.20B
YoY Change -8.34% 81.43%
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 $16.59B $16.07B
YoY Change
Total Liabilities & Shareholders Equity $34.24B $35.31B
YoY Change -3.04% 739209.61%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $602.0M $514.0M
YoY Change 17.12% 48.13%
Depreciation, Depletion And Amortization $244.0M $250.0M
YoY Change -2.4% 77.3%
Cash From Operating Activities $289.0M $704.0M
YoY Change -58.95% 16.17%
INVESTING ACTIVITIES
Capital Expenditures -$142.0M -$121.0M
YoY Change 17.36% -3.97%
Acquisitions
YoY Change
Other Investing Activities $287.0M -$342.0M
YoY Change -183.92% 129.53%
Cash From Investing Activities $145.0M -$463.0M
YoY Change -131.32% 68.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -402.0M -235.0M
YoY Change 71.06% -46.71%
NET CHANGE
Cash From Operating Activities 289.0M 704.0M
Cash From Investing Activities 145.0M -463.0M
Cash From Financing Activities -402.0M -235.0M
Net Change In Cash 32.00M 6.000M
YoY Change 433.33% -105.45%
FREE CASH FLOW
Cash From Operating Activities $289.0M $704.0M
Capital Expenditures -$142.0M -$121.0M
Free Cash Flow $431.0M $825.0M
YoY Change -47.76% 12.7%

Facts In Submission

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38000000 USD
us-gaap Other Postretirement Benefits Payments
OtherPostretirementBenefitsPayments
45000000 USD
CY2013Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
668000000 USD
CY2014Q3 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
675000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
61000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
56000000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-445000000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
185000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
267000000 USD
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
0 USD
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
0 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
597000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
700000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
378000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
372000000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
260000000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
286000000 USD
us-gaap Pension Contributions
PensionContributions
333000000 USD
us-gaap Pension Contributions
PensionContributions
303000000 USD
CY2014Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
390000000 USD
CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
415000000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:8px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified to conform to the current year presentation.</font></div></div>
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0 USD
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
761000000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
282000000 USD
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
6000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-4000000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
50000000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
98000000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
514000000 USD
us-gaap Profit Loss
ProfitLoss
1391000000 USD
us-gaap Profit Loss
ProfitLoss
1218000000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
605000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3833000000 USD
CY2014Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3702000000 USD
CY2013Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
3648000000 USD
CY2014Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
3972000000 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
5607000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
16519000000 USD
CY2014Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
74000000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
580000000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
1012000000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
479000000 USD
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
163000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
493000000 USD
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
166000000 USD
CY2013Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
32000000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
5728000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
16987000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
106000000 USD
CY2014Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
40000000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4800000 shares
CY2014Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
3400000 shares
CY2013Q4 us-gaap Short Term Investments
ShortTermInvestments
794000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2885000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2907000000 USD
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
967000000 USD
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
961000000 USD
CY2013Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
13000000 USD
CY2014Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
1000000 USD
CY2014Q3 us-gaap Short Term Investments
ShortTermInvestments
335000000 USD
CY2014Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
225000000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
324000000 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
16587000000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
16791000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
16863000000 USD
CY2014Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
16645000000 USD
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3200000 shares
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2400000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2700000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
476200000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
477200000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
477200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
478200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
473100000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
474000000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
474800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
475500000 shares
etn Acquisition Integration After Tax Charges
AcquisitionIntegrationAfterTaxCharges
73000000 USD
CY2014Q3 etn Acquisition Integration After Tax Charges
AcquisitionIntegrationAfterTaxCharges
14000000 USD
CY2013Q3 etn Acquisition Integration After Tax Charges
AcquisitionIntegrationAfterTaxCharges
26000000 USD
etn Acquisition Integration After Tax Charges
AcquisitionIntegrationAfterTaxCharges
81000000 USD
etn Acquisition Integration Charges Per Common Share
AcquisitionIntegrationChargesPerCommonShare
0.17
etn Acquisition Integration Charges Per Common Share
AcquisitionIntegrationChargesPerCommonShare
0.15
CY2014Q3 etn Acquisition Integration Charges Per Common Share
AcquisitionIntegrationChargesPerCommonShare
0.03
CY2013Q3 etn Acquisition Integration Charges Per Common Share
AcquisitionIntegrationChargesPerCommonShare
0.05
etn Adjustedeffectiveincometaxratepercent
Adjustedeffectiveincometaxratepercent
0.06
CY2013Q1 etn Agreedsaleprice Agreementbetween Cooperand Danahertosell Apex Tool Groupjointventureto Bain Capital
AgreedsalepriceAgreementbetweenCooperandDanahertosellApexToolGroupjointventuretoBainCapital
1600000000 USD
CY2012Q4 etn Eaton Corp.Andcertainothersubsidiariesguaranteeof Senior Debt
EatonCorp.andcertainothersubsidiariesguaranteeofSeniorDebt
1.00
CY2013Q4 etn Intercompanyaccountspayable
Intercompanyaccountspayable
0 USD
CY2014Q3 etn Intercompanyaccountspayable
Intercompanyaccountspayable
0 USD
CY2013Q4 etn Intercompanyaccountsreceivable
Intercompanyaccountsreceivable
0 USD
CY2014Q3 etn Intercompanyaccountsreceivable
Intercompanyaccountsreceivable
0 USD
etn Intercompanyexpenseincome
Intercompanyexpenseincome
0 USD
CY2014Q3 etn Intercompanyexpenseincome
Intercompanyexpenseincome
0 USD
CY2013Q3 etn Intercompanyexpenseincome
Intercompanyexpenseincome
0 USD
etn Intercompanyexpenseincome
Intercompanyexpenseincome
0 USD
CY2013Q4 etn Intercompanyloanspayable
Intercompanyloanspayable
0 USD
CY2014Q3 etn Intercompanyloanspayable
Intercompanyloanspayable
0 USD
CY2013Q4 etn Intercompanyloansreceivables
Intercompanyloansreceivables
0 USD
CY2014Q3 etn Intercompanyloansreceivables
Intercompanyloansreceivables
0 USD
CY2014Q3 etn Irs Statutory Notice Of Deficiency Proposed Assessment Additional Tax Payments
IrsStatutoryNoticeOfDeficiencyProposedAssessmentAdditionalTaxPayments
190000000 USD
CY2012Q4 etn Issuance Of Senior Notes
IssuanceOfSeniorNotes
4900000000 USD
CY2014Q3 etn Penalties Associated With Irs Statutory Notice Of Deficiency Proposed Assessment
PenaltiesAssociatedWithIrsStatutoryNoticeOfDeficiencyProposedAssessment
72000000 USD
etn Percentage Of Intercompany Balance Sheet Exposure
PercentageOfIntercompanyBalanceSheetExposure
1
etn Shareholdersequitychangeincapital
Shareholdersequitychangeincapital
35000000 USD
CY2013Q3 etn Total Acquistiion Integration Charges And Transaction Costs Before Income Taxes
TotalAcquistiionIntegrationChargesAndTransactionCostsBeforeIncomeTaxes
38000000 USD
CY2014Q3 etn Total Acquistiion Integration Charges And Transaction Costs Before Income Taxes
TotalAcquistiionIntegrationChargesAndTransactionCostsBeforeIncomeTaxes
19000000 USD
etn Total Acquistiion Integration Charges And Transaction Costs Before Income Taxes
TotalAcquistiionIntegrationChargesAndTransactionCostsBeforeIncomeTaxes
108000000 USD
etn Total Acquistiion Integration Charges And Transaction Costs Before Income Taxes
TotalAcquistiionIntegrationChargesAndTransactionCostsBeforeIncomeTaxes
122000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001551182
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
474600000 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Eaton Corp plc
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
dei Trading Symbol
TradingSymbol
ETN

Files In Submission

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