Illinois Tool Works Inc. (ITW) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
155 HARLEM AVENUE GLENVIEW, IL 60025 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 356 - General Industrial Machinery And Equipment (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 3/31/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 1,065 | 708 | 1,527 | 2,564 | 1,981 | 1,504 | |||
| Cash and cash equivalents | 1,065 | 708 | 1,527 | 2,564 | 1,981 | 1,504 | |||
| Receivables | 3,123 | 3,171 | 2,840 | 2,506 | 2,461 | 2,622 | |||
| Inventory, net of allowances, customer advances and progress billings | 1,707 | 2,054 | 1,694 | 1,189 | 1,164 | 1,318 | |||
| Inventory | 1,707 | 2,054 | 1,694 | 1,189 | 1,164 | 1,318 | |||
| Advances on inventory purchases | 55 | 52 | 71 | 30 | 25 | 30 | |||
| Disposal group, including discontinued operation | 8 | ||||||||
| Other current assets | 157 | 175 | 140 | 119 | 121 | 127 | |||
| Other undisclosed current assets | 128 | 102 | 102 | 115 | 501 | 177 | |||
| Total current assets: | 6,235 | 6,270 | 6,374 | 6,523 | 6,253 | 5,778 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 1,976 | 1,848 | 1,809 | 1,777 | 1,729 | 1,791 | |||
| Intangible assets, net (including goodwill) | 5,566 | 5,632 | 5,937 | 5,471 | 5,343 | 5,717 | |||
| Goodwill | 4,909 | 4,864 | 4,965 | 4,690 | 4,492 | 4,633 | |||
| Intangible assets, net (excluding goodwill) | 657 | 768 | 972 | 781 | 851 | 1,084 | |||
| Deferred income tax assets | 479 | 494 | 552 | 533 | 516 | ✕ | |||
| Other noncurrent assets | 1,262 | 1,178 | 1,405 | 1,308 | 1,227 | 1,030 | |||
| Other undisclosed noncurrent assets | 554 | ||||||||
| Total noncurrent assets: | 9,283 | 9,152 | 9,703 | 9,089 | 8,815 | 9,092 | |||
| TOTAL ASSETS: | 15,518 | 15,422 | 16,077 | 15,612 | 15,068 | 14,870 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 2,244 | 2,322 | 2,692 | 2,239 | 2,079 | 2,191 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 382 | 361 | 342 | 328 | ||
| Taxes payable | ✕ | ✕ | ✕ | 77 | 60 | 48 | 68 | ||
| Accounts payable | 581 | 594 | 585 | 534 | 472 | 524 | |||
| Accrued liabilities | 1,663 | 1,728 | 1,648 | 1,284 | 1,217 | 1,271 | |||
| Debt | 1,825 | 1,590 | 778 | 350 | 4 | 1,351 | |||
| Disposal group, including discontinued operation | 1 | ||||||||
| Other undisclosed current liabilities | 606 | 547 | 71 | ||||||
| Total current liabilities: | 4,675 | 4,460 | 3,470 | 2,589 | 2,154 | 3,542 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 6,339 | 6,173 | 6,909 | 7,772 | 7,754 | 6,029 | |||
| Long-term debt, excluding current maturities | 6,339 | 6,173 | 6,909 | 7,772 | 7,754 | 6,029 | |||
| Liabilities, other than long-term debt | 1,491 | 1,700 | 2,072 | 2,069 | 2,130 | 1,334 | |||
| Accounts payable and accrued liabilities | 151 | 273 | 365 | 413 | 462 | 495 | |||
| Deferred income tax liabilities | 326 | 484 | 654 | 588 | 668 | ✕ | |||
| Other liabilities | 1,014 | 943 | 1,053 | 1,068 | 1,000 | 839 | |||
| Other undisclosed noncurrent liabilities | 707 | ||||||||
| Total noncurrent liabilities: | 7,830 | 7,873 | 8,981 | 9,841 | 9,884 | 8,070 | |||
| Total liabilities: | 12,505 | 12,333 | 12,451 | 12,430 | 12,038 | 11,612 | |||
| Equity | |||||||||
| Equity, attributable to parent | 3,012 | 3,088 | 3,625 | 3,181 | 3,026 | 3,254 | |||
| Common stock | 6 | 6 | 6 | 6 | 6 | 6 | |||
| Treasury stock, value | (23,870) | (22,377) | (20,636) | (19,659) | (18,982) | (17,545) | |||
| Additional paid in capital | 1,588 | 1,501 | 1,432 | 1,362 | 1,304 | 1,253 | |||
| Accumulated other comprehensive loss | (1,834) | (1,841) | (1,502) | (1,642) | (1,705) | (1,677) | |||
| Retained earnings | 27,122 | 25,799 | 24,325 | 23,114 | 22,403 | 21,217 | |||
| Equity, attributable to noncontrolling interest | 1 | 1 | 1 | 1 | 4 | 4 | |||
| Total equity: | 3,013 | 3,089 | 3,626 | 3,182 | 3,030 | 3,258 | |||
| TOTAL LIABILITIES AND EQUITY: | 15,518 | 15,422 | 16,077 | 15,612 | 15,068 | 14,870 | |||
Income Statement (P&L) ($ in millions)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 16,107 | 15,932 | 14,455 | 12,574 | 14,109 | 14,768 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (9,316) | (9,429) | (8,489) | (7,375) | (8,187) | (8,604) | ||
| Gross profit: | 6,791 | 6,503 | 5,966 | 5,199 | 5,922 | 6,164 | ||
| Other undisclosed operating loss | (2,751) | (2,713) | (2,489) | (2,317) | (2,520) | (2,580) | ||
| Operating income: | 4,040 | 3,790 | 3,477 | 2,882 | 3,402 | 3,584 | ||
| Nonoperating income | 49 | 255 | 51 | 28 | 107 | 67 | ||
| Investment income, nonoperating | 54 | 222 | 41 | 25 | 88 | 42 | ||
| Loss, foreign currency transaction, before tax | (39) | (7) | (9) | (5) | (10) | (1) | ||
| Other nonoperating income (expense) | 1 | (1) | (4) | (5) | 5 | 6 | ||
| Interest and debt expense | (266) | (203) | (202) | (206) | (221) | (257) | ||
| Income from continuing operations before income taxes: | 3,823 | 3,842 | 3,326 | 2,704 | 3,288 | 3,394 | ||
| Income tax expense | (866) | (808) | (632) | (595) | (767) | (831) | ||
| Income from continuing operations: | 2,957 | 3,034 | 2,694 | 2,109 | 2,521 | 2,563 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 2,694 | 2,109 | 2,521 | 2,563 | |
| Net income available to common stockholders, diluted: | 2,957 | 3,034 | 2,694 | 2,109 | 2,521 | 2,563 | ||
Comprehensive Income ($ in millions)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 2,957 | 3,034 | 2,694 | 2,109 | 2,521 | 2,563 | ||
| Other comprehensive income (loss) | 7 | (339) | 140 | 63 | ||||
| Other undisclosed comprehensive loss | (28) | (345) | ||||||
| Comprehensive income, net of tax, attributable to parent: | 2,964 | 2,695 | 2,834 | 2,172 | 2,493 | 2,218 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.