Analysis of Reportable Segments
Eaton Corp. plc operates in 6 segments: Electrical Americas; Electrical Global; Hydraulics; Aerospace; Vehicle; and eMobility.
Segment Profit Margin
Eaton Corp. plc, profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Electrical Americas | 26.49% | 22.51% | 20.64% | 20.24% | 18.95% |
| Electrical Global | 19.33% | 19.39% | 18.75% | 15.95% | 17.34% |
| Hydraulics | — | — | 13.62% | 10.10% | 8.76% |
| Aerospace | 22.85% | 23.20% | 21.90% | 18.62% | 23.99% |
| Vehicle | 16.26% | 16.01% | 17.41% | 11.47% | 15.14% |
| eMobility | -3.30% | -1.67% | -8.45% | -2.74% | 5.30% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Electrical Americas | Electrical Americas segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Electrical Global | Electrical Global segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Hydraulics | ||
| Aerospace | Aerospace segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Vehicle | Vehicle segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. | |
| eMobility | eMobility segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Profit Margin: Electrical Americas
Eaton Corp. plc; Electrical Americas; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | 2,675) | 1,913) | 1,495) | 1,352) | 1,549) |
| Net sales | 10,098) | 8,497) | 7,242) | 6,680) | 8,175) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 26.49% | 22.51% | 20.64% | 20.24% | 18.95% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment operating profit (loss) ÷ Net sales
= 100 × 2,675 ÷ 10,098 = 26.49%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Electrical Americas | Electrical Americas segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Electrical Global
Eaton Corp. plc; Electrical Global; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | 1,176) | 1,134) | 1,034) | 750) | 897) |
| Net sales | 6,084) | 5,848) | 5,516) | 4,703) | 5,172) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 19.33% | 19.39% | 18.75% | 15.95% | 17.34% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment operating profit (loss) ÷ Net sales
= 100 × 1,176 ÷ 6,084 = 19.33%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Electrical Global | Electrical Global segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Profit Margin: Hydraulics
Eaton Corp. plc; Hydraulics; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | —) | —) | 177) | 186) | 193) |
| Net sales | —) | —) | 1,300) | 1,842) | 2,204) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | — | — | 13.62% | 10.10% | 8.76% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment operating profit (loss) ÷ Net sales
= 100 × 0 ÷ 0 = —
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Hydraulics |
Segment Profit Margin: Aerospace
Eaton Corp. plc; Aerospace; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | 780) | 705) | 580) | 414) | 595) |
| Net sales | 3,413) | 3,039) | 2,648) | 2,223) | 2,480) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 22.85% | 23.20% | 21.90% | 18.62% | 23.99% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment operating profit (loss) ÷ Net sales
= 100 × 780 ÷ 3,413 = 22.85%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Aerospace | Aerospace segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Profit Margin: Vehicle
Eaton Corp. plc; Vehicle; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | 482) | 453) | 449) | 243) | 460) |
| Net sales | 2,965) | 2,830) | 2,579) | 2,118) | 3,038) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 16.26% | 16.01% | 17.41% | 11.47% | 15.14% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment operating profit (loss) ÷ Net sales
= 100 × 482 ÷ 2,965 = 16.26%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Vehicle | Vehicle segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Profit Margin: eMobility
Eaton Corp. plc; eMobility; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | (21) | (9) | (29) | (8) | 17) |
| Net sales | 636) | 538) | 343) | 292) | 321) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | -3.30% | -1.67% | -8.45% | -2.74% | 5.30% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment operating profit (loss) ÷ Net sales
= 100 × -21 ÷ 636 = -3.30%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | eMobility | eMobility segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
Eaton Corp. plc, ROA by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Electrical Americas | 64.26% | 52.34% | 49.80% | 57.95% | 65.64% |
| Electrical Global | 41.00% | 42.66% | 40.09% | 32.13% | 38.68% |
| Hydraulics | — | — | — | — | 14.93% |
| Aerospace | 34.27% | 37.92% | 33.55% | 30.37% | 38.09% |
| Vehicle | 21.41% | 20.31% | 22.62% | 12.46% | 21.45% |
| eMobility | -3.73% | -2.24% | -13.18% | -4.44% | 12.06% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Electrical Americas | Electrical Americas segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
| Electrical Global | Electrical Global segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Hydraulics | ||
| Aerospace | Aerospace segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Vehicle | Vehicle segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. | |
| eMobility | eMobility segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment ROA: Electrical Americas
Eaton Corp. plc; Electrical Americas; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | 2,675) | 1,913) | 1,495) | 1,352) | 1,549) |
| Identifiable assets | 4,163) | 3,655) | 3,002) | 2,333) | 2,360) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 64.26% | 52.34% | 49.80% | 57.95% | 65.64% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment operating profit (loss) ÷ Identifiable assets
= 100 × 2,675 ÷ 4,163 = 64.26%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Electrical Americas | Electrical Americas segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Electrical Global
Eaton Corp. plc; Electrical Global; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | 1,176) | 1,134) | 1,034) | 750) | 897) |
| Identifiable assets | 2,868) | 2,658) | 2,579) | 2,334) | 2,319) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 41.00% | 42.66% | 40.09% | 32.13% | 38.68% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment operating profit (loss) ÷ Identifiable assets
= 100 × 1,176 ÷ 2,868 = 41.00%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Electrical Global | Electrical Global segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment ROA: Hydraulics
Eaton Corp. plc; Hydraulics; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | —) | —) | 177) | 186) | 193) |
| Identifiable assets | —) | —) | —) | —) | 1,293) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | — | — | — | — | 14.93% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment operating profit (loss) ÷ Identifiable assets
= 100 × 0 ÷ 0 = —
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Hydraulics |
Segment ROA: Aerospace
Eaton Corp. plc; Aerospace; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | 780) | 705) | 580) | 414) | 595) |
| Identifiable assets | 2,276) | 1,859) | 1,729) | 1,363) | 1,562) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 34.27% | 37.92% | 33.55% | 30.37% | 38.09% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment operating profit (loss) ÷ Identifiable assets
= 100 × 780 ÷ 2,276 = 34.27%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Aerospace | Aerospace segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment ROA: Vehicle
Eaton Corp. plc; Vehicle; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | 482) | 453) | 449) | 243) | 460) |
| Identifiable assets | 2,251) | 2,230) | 1,985) | 1,950) | 2,145) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 21.41% | 20.31% | 22.62% | 12.46% | 21.45% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment operating profit (loss) ÷ Identifiable assets
= 100 × 482 ÷ 2,251 = 21.41%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Vehicle | Vehicle segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment ROA: eMobility
Eaton Corp. plc; eMobility; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating profit (loss) | (21) | (9) | (29) | (8) | 17) |
| Identifiable assets | 563) | 402) | 220) | 180) | 141) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | -3.73% | -2.24% | -13.18% | -4.44% | 12.06% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment operating profit (loss) ÷ Identifiable assets
= 100 × -21 ÷ 563 = -3.73%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | eMobility | eMobility segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Asset Turnover
Eaton Corp. plc, asset turnover by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Electrical Americas | 2.43 | 2.32 | 2.41 | 2.86 | 3.46 |
| Electrical Global | 2.12 | 2.20 | 2.14 | 2.01 | 2.23 |
| Hydraulics | — | — | — | — | 1.70 |
| Aerospace | 1.50 | 1.63 | 1.53 | 1.63 | 1.59 |
| Vehicle | 1.32 | 1.27 | 1.30 | 1.09 | 1.42 |
| eMobility | 1.13 | 1.34 | 1.56 | 1.62 | 2.28 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Electrical Americas | Electrical Americas segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Electrical Global | Electrical Global segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Hydraulics | ||
| Aerospace | Aerospace segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Vehicle | Vehicle segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. | |
| eMobility | eMobility segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Electrical Americas
Eaton Corp. plc; Electrical Americas; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 10,098) | 8,497) | 7,242) | 6,680) | 8,175) |
| Identifiable assets | 4,163) | 3,655) | 3,002) | 2,333) | 2,360) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 2.43 | 2.32 | 2.41 | 2.86 | 3.46 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Identifiable assets
= 10,098 ÷ 4,163 = 2.43
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Electrical Americas | Electrical Americas segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Asset Turnover: Electrical Global
Eaton Corp. plc; Electrical Global; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 6,084) | 5,848) | 5,516) | 4,703) | 5,172) |
| Identifiable assets | 2,868) | 2,658) | 2,579) | 2,334) | 2,319) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 2.12 | 2.20 | 2.14 | 2.01 | 2.23 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Identifiable assets
= 6,084 ÷ 2,868 = 2.12
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Electrical Global | Electrical Global segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Asset Turnover: Hydraulics
Eaton Corp. plc; Hydraulics; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | —) | —) | 1,300) | 1,842) | 2,204) |
| Identifiable assets | —) | —) | —) | —) | 1,293) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | — | — | — | — | 1.70 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Identifiable assets
= 0 ÷ 0 = —
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Hydraulics |
Segment Asset Turnover: Aerospace
Eaton Corp. plc; Aerospace; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 3,413) | 3,039) | 2,648) | 2,223) | 2,480) |
| Identifiable assets | 2,276) | 1,859) | 1,729) | 1,363) | 1,562) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.50 | 1.63 | 1.53 | 1.63 | 1.59 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Identifiable assets
= 3,413 ÷ 2,276 = 1.50
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Aerospace | Aerospace segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Asset Turnover: Vehicle
Eaton Corp. plc; Vehicle; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 2,965) | 2,830) | 2,579) | 2,118) | 3,038) |
| Identifiable assets | 2,251) | 2,230) | 1,985) | 1,950) | 2,145) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.32 | 1.27 | 1.30 | 1.09 | 1.42 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Identifiable assets
= 2,965 ÷ 2,251 = 1.32
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Vehicle | Vehicle segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Asset Turnover: eMobility
Eaton Corp. plc; eMobility; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 636) | 538) | 343) | 292) | 321) |
| Identifiable assets | 563) | 402) | 220) | 180) | 141) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.13 | 1.34 | 1.56 | 1.62 | 2.28 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales ÷ Identifiable assets
= 636 ÷ 563 = 1.13
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | eMobility | eMobility segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation
Eaton Corp. plc, capital expenditures to depreciation by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Electrical Americas | 2.86 | 1.79 | 1.71 | 0.94 | 1.36 |
| Electrical Global | 1.48 | 1.61 | 1.24 | 0.76 | 1.14 |
| Hydraulics | — | — | — | — | 1.38 |
| Aerospace | 1.41 | 1.44 | 1.13 | 1.11 | 1.65 |
| Vehicle | 1.04 | 1.07 | 1.18 | 0.79 | 1.25 |
| eMobility | 3.62 | 3.25 | 3.38 | 4.00 | 1.60 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Electrical Americas | Electrical Americas segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Electrical Global | Electrical Global segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Hydraulics | ||
| Aerospace | Aerospace segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Vehicle | Vehicle segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| eMobility | eMobility segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Capital Expenditures to Depreciation: Electrical Americas
Eaton Corp. plc; Electrical Americas; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures for property, plant and equipment | 309) | 181) | 180) | 95) | 160) |
| Depreciation of property, plant and equipment | 108) | 101) | 105) | 101) | 118) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 2.86 | 1.79 | 1.71 | 0.94 | 1.36 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures for property, plant and equipment ÷ Depreciation of property, plant and equipment
= 309 ÷ 108 = 2.86
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Electrical Americas | Electrical Americas segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Electrical Global
Eaton Corp. plc; Electrical Global; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures for property, plant and equipment | 142) | 151) | 120) | 71) | 106) |
| Depreciation of property, plant and equipment | 96) | 94) | 97) | 94) | 93) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.48 | 1.61 | 1.24 | 0.76 | 1.14 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures for property, plant and equipment ÷ Depreciation of property, plant and equipment
= 142 ÷ 96 = 1.48
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Electrical Global | Electrical Global segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Hydraulics
Eaton Corp. plc; Hydraulics; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures for property, plant and equipment | —) | —) | 34) | 41) | 80) |
| Depreciation of property, plant and equipment | —) | —) | —) | —) | 58) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | — | — | — | — | 1.38 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures for property, plant and equipment ÷ Depreciation of property, plant and equipment
= 0 ÷ 0 = —
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Hydraulics |
Segment Capital Expenditures to Depreciation: Aerospace
Eaton Corp. plc; Aerospace; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures for property, plant and equipment | 97) | 92) | 78) | 59) | 61) |
| Depreciation of property, plant and equipment | 69) | 64) | 69) | 53) | 37) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.41 | 1.44 | 1.13 | 1.11 | 1.65 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures for property, plant and equipment ÷ Depreciation of property, plant and equipment
= 97 ÷ 69 = 1.41
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Aerospace | Aerospace segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Vehicle
Eaton Corp. plc; Vehicle; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures for property, plant and equipment | 96) | 95) | 112) | 77) | 127) |
| Depreciation of property, plant and equipment | 92) | 89) | 95) | 98) | 102) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.04 | 1.07 | 1.18 | 0.79 | 1.25 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures for property, plant and equipment ÷ Depreciation of property, plant and equipment
= 96 ÷ 92 = 1.04
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Vehicle | Vehicle segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: eMobility
Eaton Corp. plc; eMobility; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures for property, plant and equipment | 76) | 52) | 27) | 24) | 8) |
| Depreciation of property, plant and equipment | 21) | 16) | 8) | 6) | 5) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 3.62 | 3.25 | 3.38 | 4.00 | 1.60 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures for property, plant and equipment ÷ Depreciation of property, plant and equipment
= 76 ÷ 21 = 3.62
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | eMobility | eMobility segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Net sales
Eaton Corp. plc, net sales by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Electrical Americas | 10,098) | 8,497) | 7,242) | 6,680) | 8,175) |
| Electrical Global | 6,084) | 5,848) | 5,516) | 4,703) | 5,172) |
| Hydraulics | —) | —) | 1,300) | 1,842) | 2,204) |
| Aerospace | 3,413) | 3,039) | 2,648) | 2,223) | 2,480) |
| Vehicle | 2,965) | 2,830) | 2,579) | 2,118) | 3,038) |
| eMobility | 636) | 538) | 343) | 292) | 321) |
| Total | 23,196) | 20,752) | 19,628) | 17,858) | 21,390) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Segment operating profit (loss)
Eaton Corp. plc, segment operating profit (loss) by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Electrical Americas | 2,675) | 1,913) | 1,495) | 1,352) | 1,549) |
| Electrical Global | 1,176) | 1,134) | 1,034) | 750) | 897) |
| Hydraulics | —) | —) | 177) | 186) | 193) |
| Aerospace | 780) | 705) | 580) | 414) | 595) |
| Vehicle | 482) | 453) | 449) | 243) | 460) |
| eMobility | (21) | (9) | (29) | (8) | 17) |
| Total | 5,092) | 4,196) | 3,706) | 2,937) | 3,711) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Identifiable assets
Eaton Corp. plc, identifiable assets by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Electrical Americas | 4,163) | 3,655) | 3,002) | 2,333) | 2,360) |
| Electrical Global | 2,868) | 2,658) | 2,579) | 2,334) | 2,319) |
| Hydraulics | —) | —) | —) | —) | 1,293) |
| Aerospace | 2,276) | 1,859) | 1,729) | 1,363) | 1,562) |
| Vehicle | 2,251) | 2,230) | 1,985) | 1,950) | 2,145) |
| eMobility | 563) | 402) | 220) | 180) | 141) |
| Total | 12,121) | 10,804) | 9,515) | 8,160) | 9,820) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Capital expenditures for property, plant and equipment
Eaton Corp. plc, capital expenditures for property, plant and equipment by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Electrical Americas | 309) | 181) | 180) | 95) | 160) |
| Electrical Global | 142) | 151) | 120) | 71) | 106) |
| Hydraulics | —) | —) | 34) | 41) | 80) |
| Aerospace | 97) | 92) | 78) | 59) | 61) |
| Vehicle | 96) | 95) | 112) | 77) | 127) |
| eMobility | 76) | 52) | 27) | 24) | 8) |
| Total | 720) | 571) | 551) | 367) | 542) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Depreciation of property, plant and equipment
Eaton Corp. plc, depreciation of property, plant and equipment by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Electrical Americas | 108) | 101) | 105) | 101) | 118) |
| Electrical Global | 96) | 94) | 97) | 94) | 93) |
| Hydraulics | —) | —) | —) | —) | 58) |
| Aerospace | 69) | 64) | 69) | 53) | 37) |
| Vehicle | 92) | 89) | 95) | 98) | 102) |
| eMobility | 21) | 16) | 8) | 6) | 5) |
| Total | 386) | 364) | 374) | 352) | 413) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).