CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash	$ 235	$ 294
Short-term investments	289	261
Accounts receivable - net	4,239	4,076
Inventory	3,604	3,430
Prepaid expenses and other current assets	772	685
Total current assets	9,138	8,746
Property, plant and equipment
Land and buildings	2,174	2,129
Machinery and equipment	6,021	5,885
Gross property, plant and equipment	8,195	8,013
Accumulated depreciation	(4,989)	(4,867)
Net property, plant and equipment	3,206	3,146
Other noncurrent assets
Goodwill	14,894	14,796
Other intangible assets	5,386	5,485
Operating lease assets	579	570
Deferred income taxes	340	330
Other assets	1,975	1,940
Total assets	35,517	35,014
Current liabilities
Short-term debt	87	324
Current portion of long-term debt	8	10
Accounts payable	3,118	3,072
Accrued compensation	350	467
Other current liabilities	2,524	2,488
Total current liabilities	6,087	6,360
Noncurrent liabilities
Long-term debt	8,701	8,321
Pension liabilities	651	649
Other postretirement benefits liabilities	174	177
Operating lease liabilities	466	459
Deferred income taxes	537	530
Other noncurrent liabilities	1,417	1,444
Total noncurrent liabilities	11,946	11,580
Shareholders’ equity
Ordinary shares (398.6 million outstanding in 2023 and 397.8 million in 2022)	4	4
Capital in excess of par value	12,502	12,512
Retained earnings	8,757	8,468
Accumulated other comprehensive loss	(3,814)	(3,946)
Shares held in trust	0	(1)
Total Eaton shareholders’ equity	17,449	17,038
Noncontrolling interests	36	38
Total equity	17,485	17,075
Total liabilities and equity	$ 35,517	$ 35,014