Illinois Tool Works Inc. (ITW) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,5641,9811,5043,0942,4723,0903,990
Cash and cash equivalents2,5641,9811,5043,0942,4723,0903,990
Receivables2,5062,4612,6222,6282,3572,2032,293
Inventory, net of allowances, customer advances and progress billings1,1891,1641,3181,2201,0761,0861,180
Inventory1,1891,1641,3181,2201,0761,0861,180
Advances on inventory purchases30253026202230
Other current assets119121127119122124192
Other undisclosed current assets11550117719176195391
Total current assets:6,5236,2535,7787,2786,1236,7208,076
Noncurrent Assets
Property, plant and equipment1,7771,7291,7911,7781,6521,5771,686
Long-term investments and receivables      141
Long-term investments      141
Intangible assets, net (including goodwill)5,4715,3435,7176,0246,0215,9996,466
Goodwill4,6904,4924,6334,7524,5584,4394,667
Intangible assets, net (excluding goodwill)7818511,0841,2721,4631,5601,799
Deferred income tax assets533516
Other noncurrent assets1,3081,2271,0301,1959561,0871,149
Prepaid pension costs  165
Other undisclosed noncurrent assets  554505449346(5)
Total noncurrent assets:9,0898,8159,0929,5029,0789,0099,602
TOTAL ASSETS:15,61215,06814,87016,78015,20115,72917,678
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,2392,0792,1912,2032,1081,8422,504
Accounts payable534472524590511449512
Accrued liabilities1,2841,2171,2711,2581,2021,1361,287
Employee-related liabilities      455
Taxes payable604868891695764
Interest and dividends payable361342328266226200186
Debt35041,3518506525261,476
Deferred tax liabilities    8
Other undisclosed current liabilities 71    (455)
Total current liabilities:2,5892,1543,5423,0532,7602,3683,533
Noncurrent Liabilities
Long-term debt and lease obligation7,7727,7546,0297,4787,1776,8965,981
Long-term debt, excluding current maturities7,7727,7546,0297,4787,1776,8965,981
Liabilities, other than long-term debt2,0692,1301,3341,4968711,2371,817
Accounts payable and accrued liabilities413462495614   
Deferred tax liabilities, net   256338
Deferred income tax liabilities588668
Liability, pension and other postretirement and postemployment benefits      477
Other liabilities1,0681,0008398828719811,002
Other undisclosed noncurrent liabilities  707164134 (477)
Total noncurrent liabilities:9,8419,8848,0709,1388,1828,1337,321
Total liabilities:12,43012,03811,61212,19110,94210,50110,854
Stockholders' equity
Stockholders' equity attributable to parent3,1813,0263,2544,5854,2545,2246,819
Common stock6666666
Treasury stock, value(19,659)(18,982)(17,545)(15,562)(14,638)(12,729)(10,798)
Additional paid in capital1,3621,3041,2531,2181,1881,1351,096
Accumulated other comprehensive loss(1,642)(1,705)(1,677)(1,287)(1,807)(1,504)(658)
Retained earnings23,11422,40321,21720,21019,50518,31617,173
Stockholders' equity attributable to noncontrolling interest1444545
Total stockholders' equity:3,1823,0303,2584,5894,2595,2286,824
TOTAL LIABILITIES AND EQUITY:15,61215,06814,87016,78015,20115,72917,678

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues12,57414,10914,76814,31413,59913,40514,484
Revenue, net14,31413,59913,40514,484
Cost of revenue
(Cost of Goods and Services Sold)
(7,375)(8,187)(8,604)(8,309)(7,896)(7,888)(8,673)
Gross profit:5,1995,9226,1646,0055,7035,5175,811
Operating expenses   95 (233)(711)
Other undisclosed operating loss(2,317)(2,520)(2,580)(2,606)(2,639)(2,417)(2,212)
Operating income:2,8823,4023,5843,4943,0642,8672,888
Nonoperating income281076736817861
Investment income, nonoperating25884262137267
Foreign currency transaction gain (loss), before tax(5)(10)(1)(25)958
Other nonoperating income (expense)(5)56(1)(2)5(5)
Interest and debt expense(206)(221)(257)(260)(237)(226)(250)
Income from continuing operations before equity method investments, income taxes:2,7043,2883,3943,2702,9082,7192,699
Loss from equity method investments      (9)
Income from continuing operations before income taxes:2,7043,2883,3943,2702,9082,7192,690
Income tax expense(595)(767)(831)(1,583)(873)(820)(809)
Other undisclosed income from continuing operations      9
Income from continuing operations:2,1092,5212,5631,6872,0351,8991,890
Income from discontinued operations      1,056
Net income available to common stockholders, diluted:2,1092,5212,5631,6872,0351,8992,946

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:2,1092,5212,5631,6872,0351,8992,946
Other comprehensive income63      
Other undisclosed comprehensive income (loss) (28)(345)520(303)(846)(1,042)
Comprehensive income, net of tax, attributable to parent:2,1722,4932,2182,2071,7321,0531,904

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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