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10-Q Filing

ILLINOIS TOOL WORKS INC CIK: 49826 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0000049826-21-000020
Period End Date 20210331
Filing Date 20210506
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance itw-20210331_htm.xml
Balance Sheet 68 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
Common stock, outstanding (in shares) CommonStockSharesOutstanding 315.90M shares Point-in-time
Common stock, outstanding (in shares) CommonStockSharesOutstanding 316.70M shares Point-in-time
Cash and equivalents CashAndCashEquivalentsAtCarryingValue $2.48B USD Point-in-time
Cash and equivalents CashAndCashEquivalentsAtCarryingValue $2.56B USD Point-in-time
Trade receivables ReceivablesNetCurrent $2.66B USD Point-in-time
Trade receivables ReceivablesNetCurrent $2.51B USD Point-in-time
Inventories InventoryNet $1.19B USD Point-in-time
Inventories InventoryNet $1.29B USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $264.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $266.00M USD Point-in-time
Total current assets AssetsCurrent $6.52B USD Point-in-time
Total current assets AssetsCurrent $6.70B USD Point-in-time
Net plant and equipment PropertyPlantAndEquipmentNet $1.75B USD Point-in-time
Net plant and equipment PropertyPlantAndEquipmentNet $1.78B USD Point-in-time
Goodwill Goodwill $4.63B USD Point-in-time
Goodwill Goodwill $4.69B USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $781.00M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $747.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $533.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $519.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $1.31B USD Point-in-time
Other assets OtherAssetsNoncurrent $1.31B USD Point-in-time
Total assets Assets $15.66B USD Point-in-time
Total assets Assets $15.61B USD Point-in-time
Short-term debt ShortTermBorrowings $350.00M USD Point-in-time
Short-term debt ShortTermBorrowings $350.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $534.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $589.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $1.28B USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $1.26B USD Point-in-time
Cash dividends payable InterestAndDividendsPayableCurrent $360.00M USD Point-in-time
Cash dividends payable InterestAndDividendsPayableCurrent $361.00M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $60.00M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $120.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.59B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.68B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $7.77B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $7.60B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $588.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $637.00M USD Point-in-time
Noncurrent income taxes payable AccruedIncomeTaxesNoncurrent $413.00M USD Point-in-time
Noncurrent income taxes payable AccruedIncomeTaxesNoncurrent $413.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.07B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.06B USD Point-in-time
Total noncurrent liabilities LiabilitiesNoncurrent $9.84B USD Point-in-time
Total noncurrent liabilities LiabilitiesNoncurrent $9.71B 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 $1.38B USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapitalCommonStock $1.36B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $23.43B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $23.11B USD Point-in-time
Common stock held in treasury TreasuryStockValue $19.66B USD Point-in-time
Common stock held in treasury TreasuryStockValue $19.90B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.64B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.64B USD Point-in-time
Noncontrolling interest MinorityInterest $2.00M USD Point-in-time
Noncontrolling interest MinorityInterest $1.00M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.18B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.03B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.28B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.28B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $15.61B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $15.66B USD Point-in-time
Income Statement 28 line items
Line Item Tag Value Unit Period
Operating Revenue RevenueFromContractWithCustomerIncludingAssessedTax $3.23B USD 1 Quarter
Operating Revenue RevenueFromContractWithCustomerIncludingAssessedTax $3.54B USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $2.04B USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $1.87B USD 1 Quarter
Selling, administrative, and research and development expenses SellingAdministrativeAndResearchAndDevelopmentExpenses $566.00M USD 1 Quarter
Selling, administrative, and research and development expenses SellingAdministrativeAndResearchAndDevelopmentExpenses $560.00M USD 1 Quarter
Amortization and impairment of intangible assets AmortizationandImpairmentofIntangibleAssets $34.00M USD 1 Quarter
Amortization and impairment of intangible assets AmortizationandImpairmentofIntangibleAssets $36.00M USD 1 Quarter
Operating Income OperatingIncomeLoss $905.00M USD 1 Quarter
Operating Income OperatingIncomeLoss $761.00M USD 1 Quarter
Interest expense InterestExpense $51.00M USD 1 Quarter
Interest expense InterestExpense $52.00M USD 1 Quarter
Other income (expense) OtherNonoperatingIncome $12.00M USD 1 Quarter
Other income (expense) OtherNonoperatingIncome $25.00M USD 1 Quarter
Income Before Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $865.00M USD 1 Quarter
Income Before Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $735.00M USD 1 Quarter
Income Taxes IncomeTaxExpenseBenefit $169.00M USD 1 Quarter
Income Taxes IncomeTaxExpenseBenefit $194.00M USD 1 Quarter
Net Income ProfitLoss $671.00M USD 1 Quarter
Net Income ProfitLoss $566.00M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $2.12 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $1.78 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $2.11 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $1.77 USD 1 Quarter
Average (in shares) WeightedAverageNumberOfSharesOutstandingBasic 318.30M shares 1 Quarter
Average (in shares) WeightedAverageNumberOfSharesOutstandingBasic 316.60M shares 1 Quarter
Average assuming dilution (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 317.90M shares 1 Quarter
Average assuming dilution (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 319.70M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net Income ProfitLoss $671.00M USD 1 Quarter
Net Income ProfitLoss $566.00M USD 1 Quarter
Depreciation Depreciation $68.00M USD 1 Quarter
Depreciation Depreciation $66.00M USD 1 Quarter
Amortization and impairment of intangible assets AmortizationandImpairmentofIntangibleAssets $34.00M USD 1 Quarter
Amortization and impairment of intangible assets AmortizationandImpairmentofIntangibleAssets $36.00M USD 1 Quarter
Change in deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $-17.00M USD 1 Quarter
Change in deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $-21.00M USD 1 Quarter
Provision for uncollectible accounts ProvisionForDoubtfulAccounts $2.00M USD 1 Quarter
Provision for uncollectible accounts ProvisionForDoubtfulAccounts - USD 1 Quarter
(Income) loss from investments GainLossOnInvestments $1.00M USD 1 Quarter
(Income) loss from investments GainLossOnInvestments $3.00M USD 1 Quarter
(Gain) loss on sale of operations and affiliates DisposalGroupNotDiscontinuedOperationGainLossOnDisposal - USD 1 Quarter
(Gain) loss on sale of operations and affiliates DisposalGroupNotDiscontinuedOperationGainLossOnDisposal $1.00M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $11.00M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $9.00M USD 1 Quarter
Other non-cash items, net OtherOperatingActivitiesCashFlowStatement $2.00M USD 1 Quarter
Other non-cash items, net OtherOperatingActivitiesCashFlowStatement $3.00M USD 1 Quarter
Trade receivables IncreaseDecreaseInReceivables $192.00M USD 1 Quarter
Trade receivables IncreaseDecreaseInReceivables $-10.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $48.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $122.00M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $21.00M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $10.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $65.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $17.00M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $-13.00M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $-93.00M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $46.00M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $88.00M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $4.00M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $1.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $614.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $609.00M USD 1 Quarter
Additions to plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $68.00M USD 1 Quarter
Additions to plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $60.00M USD 1 Quarter
Proceeds from investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $7.00M USD 1 Quarter
Proceeds from investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $1.00M 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
Other, net PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $3.00M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-53.00M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-65.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $342.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $361.00M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $17.00M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $26.00M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $250.00M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $706.00M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-9.00M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-16.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-1.05B USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-594.00M USD 1 Quarter
Effect of Exchange Rate Changes on Cash and Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-65.00M USD 1 Quarter
Effect of Exchange Rate Changes on Cash and Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-30.00M USD 1 Quarter
Increase (decrease) during the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-551.00M USD 1 Quarter
Increase (decrease) during the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-80.00M USD 1 Quarter
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.43B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.98B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.56B USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.48B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.43B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.98B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.56B USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.48B USD Point-in-time
Cash Paid During the Period for Interest InterestPaidNet $56.00M USD 1 Quarter
Cash Paid During the Period for Interest InterestPaidNet $56.00M USD 1 Quarter
Cash Paid During the Period for Income Taxes, Net of Refunds IncomeTaxesPaidNet $86.00M USD 1 Quarter
Cash Paid During the Period for Income Taxes, Net of Refunds IncomeTaxesPaidNet $106.00M USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Dividends declared (in dollars per share) CommonStockDividendsPerShareDeclared $1.14 USD 1 Quarter
Dividends declared (in dollars per share) CommonStockDividendsPerShareDeclared $1.07 USD 1 Quarter
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.18B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.03B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.28B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.28B USD Point-in-time
Net income ProfitLoss $671.00M USD 1 Quarter
Net income ProfitLoss $566.00M USD 1 Quarter
Common stock issued for stock-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $17.00M USD 1 Quarter
Common stock issued for stock-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $5.00M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $9.00M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $11.00M USD 1 Quarter
Repurchases of common stock TreasuryStockValueAcquiredCostMethod $250.00M USD 1 Quarter
Repurchases of common stock TreasuryStockValueAcquiredCostMethod $706.00M USD 1 Quarter
Dividends declared DividendsCommonStockCash $360.00M USD 1 Quarter
Dividends declared DividendsCommonStockCash $338.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-278.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $4.00M USD 1 Quarter
Noncontrolling interest MinorityInterestPeriodIncreaseDecrease $-4.00M USD 1 Quarter
Noncontrolling interest MinorityInterestPeriodIncreaseDecrease $1.00M USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.18B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.03B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.28B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.28B USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net Income ProfitLoss $671.00M USD 1 Quarter
Net Income ProfitLoss $566.00M USD 1 Quarter
Foreign currency translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-7.00M USD 1 Quarter
Foreign currency translation adjustments, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-287.00M USD 1 Quarter
Pension and other postretirement benefit adjustments, net of tax OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-11.00M USD 1 Quarter
Pension and other postretirement benefit adjustments, net of tax OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-9.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-278.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $4.00M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $288.00M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $675.00M USD 1 Quarter

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

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