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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7081,5272,5641,9811,5043,094
Cash and cash equivalents7081,5272,5641,9811,5043,094
Receivables3,1712,8402,5062,4612,6222,628
Inventory, net of allowances, customer advances and progress billings2,0541,6941,1891,1641,3181,220
Inventory2,0541,6941,1891,1641,3181,220
Advances on inventory purchases 527130253026
Disposal group, including discontinued operation 8     
Other current assets 175140119121127119
Other undisclosed current assets102102115501177191
Total current assets:6,2706,3746,5236,2535,7787,278
Noncurrent Assets
Property, plant and equipment1,8481,8091,7771,7291,7911,778
Intangible assets, net (including goodwill)5,6325,9375,4715,3435,7176,024
Goodwill4,8644,9654,6904,4924,6334,752
Intangible assets, net (excluding goodwill)7689727818511,0841,272
Deferred income tax assets494552533516
Other noncurrent assets1,1781,4051,3081,2271,0301,195
Other undisclosed noncurrent assets     554505
Total noncurrent assets:9,1529,7039,0898,8159,0929,502
TOTAL ASSETS:15,42216,07715,61215,06814,87016,780
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,3222,6922,2392,0792,1912,203
Interest and dividends payable382361342328266
Taxes payable7760486889
Accounts payable594585534472524590
Accrued liabilities1,7281,6481,2841,2171,2711,258
Debt1,59077835041,351850
Disposal group, including discontinued operation 1     
Other undisclosed current liabilities547  71  
Total current liabilities:4,4603,4702,5892,1543,5423,053
Noncurrent Liabilities
Long-term debt and lease obligation6,1736,9097,7727,7546,0297,478
Long-term debt, excluding current maturities6,1736,9097,7727,7546,0297,478
Liabilities, other than long-term debt1,7002,0722,0692,1301,3341,496
Accounts payable and accrued liabilities273365413462495614
Deferred income tax liabilities484654588668
Other liabilities9431,0531,0681,000839882
Other undisclosed noncurrent liabilities     707164
Total noncurrent liabilities:7,8738,9819,8419,8848,0709,138
Total liabilities:12,33312,45112,43012,03811,61212,191
Equity
Equity, attributable to parent3,0883,6253,1813,0263,2544,585
Common stock666666
Treasury stock, value(22,377)(20,636)(19,659)(18,982)(17,545)(15,562)
Additional paid in capital1,5011,4321,3621,3041,2531,218
Accumulated other comprehensive loss(1,841)(1,502)(1,642)(1,705)(1,677)(1,287)
Retained earnings25,79924,32523,11422,40321,21720,210
Equity, attributable to noncontrolling interest111444
Total equity:3,0893,6263,1823,0303,2584,589
TOTAL LIABILITIES AND EQUITY:15,42216,07715,61215,06814,87016,780

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues15,93214,45512,57414,10914,76814,314
Revenue, net14,314
Cost of revenue
(Cost of Goods and Services Sold)
(9,429)(8,489)(7,375)(8,187)(8,604)(8,309)
Gross profit:6,5035,9665,1995,9226,1646,005
Operating expenses      95
Other undisclosed operating loss(2,713)(2,489)(2,317)(2,520)(2,580)(2,606)
Operating income:3,7903,4772,8823,4023,5843,494
Nonoperating income25551281076736
Investment income, nonoperating 2224125884262
Loss, foreign currency transaction, before tax (7)(9)(5)(10)(1)(25)
Other nonoperating income (expense)(1)(4)(5)56(1)
Interest and debt expense(203)(202)(206)(221)(257)(260)
Income from continuing operations before income taxes:3,8423,3262,7043,2883,3943,270
Income tax expense(808)(632)(595)(767)(831)(1,583)
Income from continuing operations:3,0342,6942,1092,5212,5631,687
Income before gain (loss) on sale of properties:2,6942,1092,5212,5631,687
Net income available to common stockholders, diluted:3,0342,6942,1092,5212,5631,687

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:3,0342,6942,1092,5212,5631,687
Other comprehensive income (loss)(339)14063   
Other undisclosed comprehensive income (loss)    (28)(345)520
Comprehensive income, net of tax, attributable to parent:2,6952,8342,1722,4932,2182,207

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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