Illinois Tool Works Inc. (ITW) Financial Statements (2025 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)

12/31/2024
Q4
9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9478629591,065990922
Cash and cash equivalent9478629591,065990922
Receivables3,2263,2503,2383,1233,1633,216
Inventory, net of allowances, customer advances and progress billings1,8171,8191,8251,7071,7991,921
Inventory1,8171,8191,8251,7071,7991,921
Advances on inventory purchases   55  
Other current assets   157  
Other undisclosed current assets314325349128336345
Total current assets:6,3046,2566,3716,2356,2886,404
Noncurrent Assets
Property, plant and equipment2,0712,0111,9731,9761,9041,901
Intangible assets, net (including goodwill)5,5975,5515,5575,5665,5105,595
Goodwill4,9804,9104,9044,9094,8284,887
Intangible assets, net (excluding goodwill)617641653657682708
Deferred income tax assets468448462479455500
Other noncurrent assets1,3841,3111,2901,2621,2381,252
Total noncurrent assets:9,5209,3219,2829,2839,1079,248
TOTAL ASSETS:15,82415,57715,65315,51815,39515,652
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,2112,1912,1092,2442,1682,215
Accounts payable556576597581580590
Accrued liabilities1,6551,6151,5121,6631,5881,625
Debt1,7682,0442,0661,8251,2481,275
Other undisclosed current liabilities648569669606566550
Total current liabilities:4,6274,8044,8444,6753,9824,040
Noncurrent Liabilities
Long-term debt and lease obligation6,5786,4296,2596,3396,8186,947
Long-term debt, excluding current maturities6,5786,4296,2596,3396,8186,947
Liabilities, other than long-term debt1,2271,3821,5291,4911,5911,571
Accounts payable and accrued liabilities   151151151151
Deferred income tax liabilities129381380326464451
Other liabilities1,0981,0019981,014976969
Total noncurrent liabilities:7,8057,8117,7887,8308,4098,518
Total liabilities:12,43212,61512,63212,50512,39112,558
Equity
Equity, attributable to parent3,3912,9613,0203,0123,0033,093
Common stock666666
Treasury stock, value(25,000)(24,622)(24,243)(23,870)(23,493)(23,116)
Additional paid in capital1,6511,6361,6181,5881,5691,550
Accumulated other comprehensive loss(1,849)(1,925)(1,884)(1,834)(1,902)(1,820)
Retained earnings28,58327,86627,52327,12226,82326,473
Equity, attributable to noncontrolling interest111111
Total equity:3,3922,9623,0213,0133,0043,094
TOTAL LIABILITIES AND EQUITY:15,82415,57715,65315,51815,39515,652

Income Statement (P&L) ($ in millions)

12/31/2024
Q4
9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
Revenues3,9664,0273,9733,9834,0314,074
Cost of revenue(2,230)(2,262)(2,145)(2,312)(2,319)(2,344)
Cost of product and service sold (2,230)(2,262)(2,145)(2,312)(2,319)(2,344)
Gross profit:1,7361,7651,8281,6711,7121,730
Operating expenses      
Other undisclosed operating loss(684)(711)(701)(683)(642)(720)
Operating income:1,0521,0541,1279881,0701,010
Nonoperating income379261691020
Other nonoperating income 3792616 1020
Interest and debt expense(69)(75)(71)(70)(67)(69)
Income from continuing operations before income taxes:1,3621,0051,0729271,013961
Income tax expense(202)(246)(253)(210)(241)(207)
Net income available to common stockholders, diluted:1,160759819717772754

Comprehensive Income ($ in millions)

12/31/2024
Q4
9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
Net income:1,160759819717772754
Other comprehensive income (loss)76(41)(50)68(82)(16)
Comprehensive income, net of tax, attributable to parent:1,236718769785690738

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.

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