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EQUITY (Tables)
 9 Months Ended
Sep. 30, 2018
Stockholders' Equity Note [Abstract]  
Changes in Shareholders' equity
The changes in Shareholders’ equity follow:
 
Eaton
shareholders’
equity
 
Noncontrolling
interests
 
Total
equity
Balance at December 31, 2017
$
17,253

 
$
37

 
$
17,290

Cumulative-effect adjustment upon adoption of ASU 2014-09
(2
)
 
—

 
(2
)
Cumulative-effect adjustment upon adoption of ASU 2016-16
(199
)
 
—

 
(199
)
Net income
1,514

 
—

 
1,514

Other comprehensive loss
(426
)
 
—

 
(426
)
Cash dividends paid
(864
)
 
(1
)
 
(865
)
Issuance of shares under equity-based compensation plans - net
78

 
—

 
78

Repurchase of shares
(600
)
 
—

 
(600
)
Changes in noncontrolling interest - net
—

 
(1
)
 
(1
)
Balance at September 30, 2018
$
16,754

 
$
35

 
$
16,789
Schedule of Accumulated Other Comprehensive Loss
The changes in Accumulated other comprehensive loss follow:
 
Currency translation and related hedging instruments
 
Pensions and other postretirement benefits
 
Cash flow
hedges
 
Total
Balance at December 31, 2017
$
(2,255
)
 
$
(1,139
)
 
$
(10
)
 
$
(3,404
)
Other comprehensive (loss) income
   before reclassifications
(546
)
 
20

 
(11
)
 
(537
)
Amounts reclassified from Accumulated other
   comprehensive loss
—

 
102

 
9

 
111

Net current-period Other comprehensive
   (loss) income
(546
)
 
122

 
(2
)
 
(426
)
Balance at September 30, 2018
$
(2,801
)
 
$
(1,017
)
 
$
(12
)
 
$
(3,830
)
Reclassification Out of Accumulated Other Comprehensive Loss
The reclassifications out of Accumulated other comprehensive loss follow:
 
Nine months ended September 30, 2018
 
Consolidated statements
of income classification
Amortization of defined benefit pensions and other postretirement benefits items
 
 
 
Actuarial loss and prior service cost
$
(129
)
1 
 
Tax benefit
27

 
 
Total, net of tax
(102
)
 
 
 
 
 
 
Gains and (losses) on cash flow hedges
 
 
 
Currency exchange contracts
(12
)
 
Cost of products sold
Tax benefit
3

 
 
Total, net of tax
(9
)
 
 
 
 
 
 
Total reclassifications for the period
$
(111
)
 
 

1 These components of Accumulated other comprehensive loss are included in the computation of net periodic benefit cost. See Note 7 for additional information about pension and other postretirement benefits items.
Calculation of Net Income Per Ordinary Share Attributable to Shareholders
A summary of the calculation of net income per share attributable to Eaton ordinary shareholders follows:
 
Three months ended
September 30
 
Nine months ended
September 30
(Shares in millions)
2018
 
2017
 
2018
 
2017
Net income attributable to Eaton ordinary shareholders
$
416

 
$
1,401

 
$
1,514

 
$
2,351

 
 
 
 
 
 
 
 
Weighted-average number of ordinary shares outstanding - diluted
436.3

 
445.2

 
438.4

 
448.3

Less dilutive effect of equity-based compensation
2.8

 
2.6

 
2.6

 
2.4

Weighted-average number of ordinary shares outstanding - basic
433.5

 
442.6

 
435.8

 
445.9

 
 
 
 
 
 
 
 
Net income per share attributable to Eaton ordinary shareholders
 
 
 
 
 
 
 
Diluted
$
0.95

 
$
3.14

 
$
3.45

 
$
5.24

Basic
0.96

 
3.16

 
3.47

 
5.27