Illinois Tool Works Inc. (ITW) financial statements (2020 and earlier)

Company profile

Business Address 155 HARLEM AVENUE
GLENVIEW, IL 60025
State of Incorp. DE
Fiscal Year End December 31
SIC 356 - General Industrial Machinery And Equipment (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,9811,5043,0942,4723,0903,9903,618
Cash and cash equivalents1,9811,5043,0942,4723,0903,9903,618
Receivables2,4612,6222,6282,3572,2032,2932,365
Inventory, net of allowances, customer advances and progress billings1,1641,3181,2201,0761,0861,1801,247
Inventory1,1641,3181,2201,0761,0861,1801,247
Advances on inventory purchases25302620223030
Assets held-for-sale1,836
Other current assets121127119122124192148
Other undisclosed current assets50117719176195391572
Total current assets:6,2535,7787,2786,1236,7208,0769,816
Noncurrent Assets
Property, plant and equipment1,7291,7911,7781,6521,5771,6861,709
Long-term investments and receivables     141164
Long-term investments     141164
Intangible assets, net (including goodwill)5,3435,7176,0246,0215,9996,4666,885
Goodwill4,4924,6334,7524,5584,4394,6674,886
Intangible assets, net (excluding goodwill)8511,0841,2721,4631,5601,7991,999
Deferred income tax assets516
Other noncurrent assets1,2271,0301,1959561,0871,1491,197
Prepaid pension costs  165134
Other undisclosed noncurrent assets 554505449346(5)61
Total noncurrent assets:8,8159,0929,5029,0789,0099,60210,150
TOTAL ASSETS:15,06814,87016,78015,20115,72917,67819,966
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,0792,1912,2032,1081,8422,5042,156
Accounts payable472524590511449512634
Accrued liabilities1,2171,2711,2581,2021,1361,2871,272
Employee-related liabilities     455 
Taxes payable486889169576469
Interest and dividends payable342328266226200186181
Debt41,3518506525261,4763,551
Deferred tax liabilities    810
Other undisclosed current liabilities71    (455)317
Total current liabilities:2,1543,5423,0532,7602,3683,5336,034
Noncurrent Liabilities
Long-term debt and lease obligation7,7546,0297,4787,1776,8965,9812,793
Long-term debt, excluding current maturities7,7546,0297,4787,1776,8965,9812,793
Liabilities, other than long-term debt2,1301,3341,4968711,2371,8171,770
Pension and other postretirement defined benefit plans, liabilities340
Accounts payable and accrued liabilities462495614    
Deferred tax liabilities, net   256338507
Deferred income tax liabilities668
Liability, pension and other postretirement and postemployment benefits     477
Other liabilities1,0008398828719811,002923
Other undisclosed noncurrent liabilities 707164134 (477)(340)
Total noncurrent liabilities:9,8848,0709,1388,1828,1337,3214,223
Total liabilities:12,03811,61212,19110,94210,50110,85410,257
Stockholders' equity
Stockholders' equity attributable to parent3,0263,2544,5854,2545,2246,8199,703
Common stock6666666
Treasury stock, value(18,982)(17,545)(15,562)(14,638)(12,729)(10,798)(6,676)
Additional paid in capital1,3041,2531,2181,1881,1351,0961,046
Accumulated other comprehensive income (loss)(1,705)(1,677)(1,287)(1,807)(1,504)(658)384
Retained earnings22,40321,21720,21019,50518,31617,17314,943
Stockholders' equity attributable to noncontrolling interest4445456
Total stockholders' equity:3,0303,2584,5894,2595,2286,8249,709
TOTAL LIABILITIES AND EQUITY:15,06814,87016,78015,20115,72917,67819,966

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues14,10914,76814,31413,59913,40514,48414,135
Revenue, net14,31413,59913,40514,48414,135
Cost of revenue
(Cost of Goods and Services Sold)
(8,187)(8,604)(8,309)(7,896)(7,888)(8,673)(8,554)
Gross profit:5,9226,1646,0055,7035,5175,8115,581
Operating expenses  95 (233)(711)(697)
Other undisclosed operating loss(2,520)(2,580)(2,606)(2,639)(2,417)(2,212)(2,370)
Operating income:3,4023,5843,4943,0642,8672,8882,514
Nonoperating income107673681786172
Investment income, nonoperating88426213726745
Foreign currency transaction gain (loss), before tax(10)(1)(25)958(5)
Interest and debt expense(221)(257)(260)(237)(226)(250)(239)
Income from continuing operations before equity method investments, income taxes:3,2883,3943,2702,9082,7192,6992,347
Loss from equity method investments     (9)(14)
Income from continuing operations before income taxes:3,2883,3943,2702,9082,7192,6902,333
Income tax expense(767)(831)(1,583)(873)(820)(809)(717)
Other undisclosed income from continuing operations     914
Income from continuing operations:2,5212,5631,6872,0351,8991,8901,630
Income from discontinued operations     1,05649
Net income available to common stockholders, diluted:2,5212,5631,6872,0351,8992,9461,679

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:2,5212,5631,6872,0351,8992,9461,679
Other undisclosed comprehensive income (loss)(28)(345)520(303)(846)(1,042)91
Comprehensive income, net of tax, attributable to parent:2,4932,2182,2071,7321,0531,9041,770

Statements sources

The financial statements are based on the company's filings with the 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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