Investor Presentaiton
On October 3, 2022, the Company replaced its existing $2,000 million five-year revolving credit facility with a new
$2,500 million five-year revolving credit facility that will expire on October 1, 2027. On the same date, the Company replaced
its existing $500 million 364-day revolving credit facility with a new $500 million 364-day revolving credit facility that will
expire on October 2, 2023. The revolving credit facilities totaling $3,000 million are used to support commercial paper
borrowings and are fully and unconditionally guaranteed by Eaton and certain of its direct and indirect subsidiaries on an
unsubordinated, unsecured basis. In October 2022, the Company also upsized its commercial paper program to $3,000 million.
There were no borrowings outstanding under Eaton's revolving credit facilities at December 31, 2022. The Company had
access to the commercial paper markets through its $3,000 million commercial paper program, of which $300 million was
outstanding on December 31, 2022.
In addition to the revolving credit facilities, the Company also had available lines of credit of $919 million from various
banks primarily for the issuance of letters of credit, of which there was $414 million outstanding at December 31, 2022.
Borrowings outside the United States are generally denominated in local currencies.
Short-term debt of $324 million at December 31, 2022 included $300 million of short-term commercial paper in the United
States, which had a weighted average interest rate of 4.67%, and $24 million of short-term debt outside the United States.
Eaton is in compliance with each of its debt covenants for all periods presented.
Maturities of long-term debt for each of the next five years are as follows:
(In millions)
2023
2024
2025
2026
2027
Interest paid on debt is as follows:
(In millions)
2022
2021
2020
44
$
10
659
682
1,035
702
EA
250
207
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