CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash	$ 294	$ 297
Short-term investments	261	271
Accounts receivable - net	4,076	3,297
Inventory	3,430	2,969
Prepaid expenses and other current assets	685	677
Total current assets	8,746	7,511
Property, plant and equipment
Land and buildings	2,129	2,227
Machinery and equipment	5,885	5,591
Gross property, plant and equipment	8,013	7,818
Accumulated depreciation	(4,867)	(4,754)
Net property, plant and equipment	3,146	3,064
Other noncurrent assets
Goodwill	14,796	14,751
Other intangible assets	5,485	5,855
Operating lease assets	570	442
Deferred income taxes	330	392
Other assets	1,940	2,012
Total assets	35,014	34,027
Current liabilities
Short-term debt	324	13
Current portion of long-term debt	10	1,735
Accounts payable	3,072	2,797
Accrued compensation	467	501
Other current liabilities	2,488	2,166
Total current liabilities	6,360	7,212
Noncurrent liabilities
Long-term debt	8,321	6,831
Pension liabilities	649	872
Other postretirement benefits liabilities	177	263
Operating lease liabilities	459	337
Deferred income taxes	530	559
Other noncurrent liabilities	1,444	1,502
Total noncurrent liabilities	11,580	10,364
Shareholders’ equity
Ordinary shares (397.8 million outstanding in 2022 and 398.8 million in 2021)	4	4
Capital in excess of par value	12,512	12,449
Retained earnings	8,468	7,594
Accumulated other comprehensive loss	(3,946)	(3,633)
Shares held in trust	(1)	(1)
Total Eaton shareholders’ equity	17,038	16,413
Noncontrolling interests	38	38
Total equity	17,075	16,451
Total liabilities and equity	$ 35,014	$ 34,027