10-Q Filing

ILLINOIS TOOL WORKS INC CIK: 49826 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0000049826-17-000088`
Period End Date	20170331
Filing Date	20170505
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	itw-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 32 Cash Flow Statement 78 Comprehensive Income 8

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	550.00M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	550.00M	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.45B	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.49B	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.47B	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	346.90M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	345.50M	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.09B	USD	Point-in-time
Trade receivables	`ReceivablesNetCurrent`	$2.53B	USD	Point-in-time
Trade receivables	`ReceivablesNetCurrent`	$2.36B	USD	Point-in-time
Inventories	`InventoryNet`	$1.16B	USD	Point-in-time
Inventories	`InventoryNet`	$1.08B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$245.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$218.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.12B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.43B	USD	Point-in-time
Net plant and equipment	`PropertyPlantAndEquipmentNet`	$1.67B	USD	Point-in-time
Net plant and equipment	`PropertyPlantAndEquipmentNet`	$1.65B	USD	Point-in-time
Goodwill	`Goodwill`	$4.61B	USD	Point-in-time
Goodwill	`Goodwill`	$4.56B	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.41B	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.46B	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNet`	$425.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNet`	$449.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$984.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$956.00M	USD	Point-in-time
Total assets	`Assets`	$15.53B	USD	Point-in-time
Total assets	`Assets`	$15.20B	USD	Point-in-time
Short-term debt	`LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths`	$652.00M	USD	Point-in-time
Short-term debt	`LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths`	$671.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$574.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$511.00M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.20B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.15B	USD	Point-in-time
Cash dividends payable	`InterestAndDividendsPayableCurrent`	$226.00M	USD	Point-in-time
Cash dividends payable	`InterestAndDividendsPayableCurrent`	$225.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$256.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$169.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.76B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.88B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$7.18B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$7.21B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$121.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$134.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$830.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$871.00M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$8.16B	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$8.18B	USD	Point-in-time
Common stock	`CommonStockValue`	$6.00M	USD	Point-in-time
Common stock	`CommonStockValue`	$6.00M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$1.19B	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$1.18B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$19.50B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$19.82B	USD	Point-in-time
Common stock held in treasury	`TreasuryStockValue`	$14.87B	USD	Point-in-time
Common stock held in treasury	`TreasuryStockValue`	$14.64B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.64B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.81B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$5.00M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$5.00M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.50B	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.26B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$15.20B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$15.53B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Operating Revenue	`SalesRevenueNet`	$3.27B	USD	1 Quarter
Operating Revenue	`SalesRevenueNet`	$3.47B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$2.00B	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$1.90B	USD	1 Quarter
Selling, administrative, and research and development expenses	`SellingAdministrativeAndResearchAndDevelopmentExpenses`	$597.00M	USD	1 Quarter
Selling, administrative, and research and development expenses	`SellingAdministrativeAndResearchAndDevelopmentExpenses`	$605.00M	USD	1 Quarter
Amortization and impairment of intangible assets	`AmortizationandImpairmentofIntangibleAssets`	$59.00M	USD	1 Quarter
Amortization and impairment of intangible assets	`AmortizationandImpairmentofIntangibleAssets`	$53.00M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$722.00M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$809.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$64.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$58.00M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncome`	$4.00M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncome`	$4.00M	USD	1 Quarter
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$668.00M	USD	1 Quarter
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$749.00M	USD	1 Quarter
Income Taxes	`IncomeTaxExpenseBenefit`	$213.00M	USD	1 Quarter
Income Taxes	`IncomeTaxExpenseBenefit`	$200.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$468.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$536.00M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.55	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.29	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.54	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.29	USD	1 Quarter
Paid (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.55	USD	1 Quarter
Paid (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.65	USD	1 Quarter
Declared (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.55	USD	1 Quarter
Declared (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.65	USD	1 Quarter
Average (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	362.00M	shares	1 Quarter
Average (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	346.20M	shares	1 Quarter
Average assuming dilution (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	363.90M	shares	1 Quarter
Average assuming dilution (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	349.00M	shares	1 Quarter

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net Income	`ProfitLoss`	$468.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$536.00M	USD	1 Quarter
Depreciation	`Depreciation`	$61.00M	USD	1 Quarter
Depreciation	`Depreciation`	$58.00M	USD	1 Quarter
Amortization and impairment of intangible assets	`AmortizationandImpairmentofIntangibleAssets`	$59.00M	USD	1 Quarter
Amortization and impairment of intangible assets	`AmortizationandImpairmentofIntangibleAssets`	$53.00M	USD	1 Quarter
Change in deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-20.00M	USD	1 Quarter
Change in deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$213.00M	USD	1 Quarter
Provision for uncollectible accounts	`ProvisionForDoubtfulAccounts`	$1.00M	USD	1 Quarter
Provision for uncollectible accounts	`ProvisionForDoubtfulAccounts`	$3.00M	USD	1 Quarter
(Income) loss from investments	`GainLossOnInvestments`	$2.00M	USD	1 Quarter
(Income) loss from investments	`GainLossOnInvestments`	$2.00M	USD	1 Quarter
(Gain) loss on sale of plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.00M	USD	1 Quarter
(Gain) loss on sale of plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$9.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$9.00M	USD	1 Quarter
Other non-cash items, net	`OtherOperatingActivitiesCashFlowStatement`	$4.00M	USD	1 Quarter
Other non-cash items, net	`OtherOperatingActivitiesCashFlowStatement`	$1.00M	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInReceivables`	$148.00M	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInReceivables`	$155.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$67.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$29.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$21.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$23.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$56.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$45.00M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-67.00M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-117.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$318.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$81.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$463.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$479.00M	USD	1 Quarter
Acquisition of businesses (excluding cash and equivalents) and additional interest in affiliates	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$3.00M	USD	1 Quarter
Acquisition of businesses (excluding cash and equivalents) and additional interest in affiliates	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.00M	USD	1 Quarter
Additions to plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.00M	USD	1 Quarter
Additions to plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$64.00M	USD	1 Quarter
Proceeds from investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$6.00M	USD	1 Quarter
Proceeds from investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$7.00M	USD	1 Quarter
Proceeds from sale of plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00M	USD	1 Quarter
Proceeds from sale of plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00M	USD	1 Quarter
Proceeds from sales of operations and affiliates	`ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates`	$1.00M	USD	1 Quarter
Proceeds from sales of operations and affiliates	`ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates`	-	USD	1 Quarter
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.00M	USD	1 Quarter
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$226.00M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$200.00M	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$18.00M	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$39.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$250.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$480.00M	USD	1 Quarter
Net proceeds from (repayments of) debt with original maturities of three months or less	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$671.00M	USD	1 Quarter
Net proceeds from (repayments of) debt with original maturities of three months or less	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$-525.00M	USD	1 Quarter
Repayments of debt with original maturities of more than three months	`RepaymentsOfLongTermDebt`	$652.00M	USD	1 Quarter
Repayments of debt with original maturities of more than three months	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$13.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-11.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-10.00M	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.16B	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-450.00M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash and Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$65.00M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash and Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$92.00M	USD	1 Quarter
Increase (decrease) during the period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-642.00M	USD	1 Quarter
Increase (decrease) during the period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.00M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.45B	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.49B	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.47B	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.09B	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$2.45B	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$2.49B	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$2.47B	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.09B	USD	Point-in-time
Cash Paid During the Period for Interest	`InterestPaidNet`	$65.00M	USD	1 Quarter
Cash Paid During the Period for Interest	`InterestPaidNet`	$65.00M	USD	1 Quarter
Cash Paid During the Period for Income Taxes, Net of Refunds	`IncomeTaxesPaidNet`	$70.00M	USD	1 Quarter
Cash Paid During the Period for Income Taxes, Net of Refunds	`IncomeTaxesPaidNet`	$112.00M	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net Income	`ProfitLoss`	$468.00M	USD	1 Quarter
Net Income	`ProfitLoss`	$536.00M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$154.00M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$164.00M	USD	1 Quarter
Pension and other postretirement benefit adjustments, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-8.00M	USD	1 Quarter
Pension and other postretirement benefit adjustments, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-10.00M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$700.00M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$640.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.