$ITW
ILLINOIS TOOL WORKS INC

2015 Q3 Form 10-Q Financial Statement

#000004982615000115 Filed on October 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $3.354B $3.692B
YoY Change -9.15% 3.48%
Cost Of Revenue $1.953B $2.182B
YoY Change -10.49% 1.58%
Gross Profit $1.401B $1.510B
YoY Change -7.22% 6.34%
Gross Profit Margin 41.77% 40.9%
Selling, General & Admin $581.0M $675.0M
YoY Change -13.93% -0.15%
% of Gross Profit 41.47% 44.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $120.0M $128.0M
YoY Change -6.25% -33.33%
% of Gross Profit 8.57% 8.48%
Operating Expenses $638.0M $735.0M
YoY Change -13.2% -0.68%
Operating Profit $761.0M $772.0M
YoY Change -1.42% 13.86%
Interest Expense $59.00M $68.00M
YoY Change -13.24% 13.33%
% of Operating Profit 7.75% 8.81%
Other Income/Expense, Net $23.00M $20.00M
YoY Change 15.0% 100.0%
Pretax Income $725.0M $724.0M
YoY Change 0.14% 15.29%
Income Tax $214.0M $217.0M
% Of Pretax Income 29.52% 29.97%
Net Earnings $511.0M $531.0M
YoY Change -3.77% 17.48%
Net Earnings / Revenue 15.24% 14.38%
Basic Earnings Per Share $1.40 $1.35
Diluted Earnings Per Share $1.39 $1.34
COMMON SHARES
Basic Shares Outstanding 365.1M shares 394.0M shares
Diluted Shares Outstanding 367.1M shares 396.8M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.001B $4.820B
YoY Change -37.74% 59.71%
Cash & Equivalents $3.001B $4.820B
Short-Term Investments
Other Short-Term Assets $476.0M $548.0M
YoY Change -13.14% -80.17%
Inventory $1.153B $1.265B
Prepaid Expenses
Receivables $2.339B $2.519B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.969B $9.152B
YoY Change -23.85% -4.49%
LONG-TERM ASSETS
Property, Plant & Equipment $1.601B $1.693B
YoY Change -5.43% 1.56%
Goodwill $4.470B $4.771B
YoY Change -6.31% -1.71%
Intangibles $1.618B $1.825B
YoY Change -11.34% -13.96%
Long-Term Investments
YoY Change
Other Assets $1.160B $1.258B
YoY Change -7.79% 7.16%
Total Long-Term Assets $9.135B $9.876B
YoY Change -7.5% -2.88%
TOTAL ASSETS
Total Short-Term Assets $6.969B $9.152B
Total Long-Term Assets $9.135B $9.876B
Total Assets $16.10B $19.03B
YoY Change -15.37% -3.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $498.0M $594.0M
YoY Change -16.16% -3.57%
Accrued Expenses $1.137B $1.307B
YoY Change -13.01% 1.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $812.0M $1.496B
YoY Change -45.72% 12.65%
Total Short-Term Liabilities $2.724B $3.874B
YoY Change -29.69% -1.7%
LONG-TERM LIABILITIES
Long-Term Debt $7.000B $6.034B
YoY Change 16.01% 58.46%
Other Long-Term Liabilities $948.0M $901.0M
YoY Change 5.22% -16.65%
Total Long-Term Liabilities $8.290B $7.353B
YoY Change 12.74% 37.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.724B $3.874B
Total Long-Term Liabilities $8.290B $7.353B
Total Liabilities $11.01B $11.23B
YoY Change -1.9% 20.94%
SHAREHOLDERS EQUITY
Retained Earnings $18.07B $16.91B
YoY Change 6.84% 14.9%
Common Stock $1.130B $1.082B
YoY Change 4.44% 4.24%
Preferred Stock
YoY Change
Treasury Stock (at cost) $12.74B $10.05B
YoY Change 26.8% 79.92%
Treasury Stock Shares
Shareholders Equity $5.086B $7.796B
YoY Change
Total Liabilities & Shareholders Equity $16.10B $19.03B
YoY Change -15.37% -3.66%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $511.0M $531.0M
YoY Change -3.77% 17.48%
Depreciation, Depletion And Amortization $120.0M $128.0M
YoY Change -6.25% -33.33%
Cash From Operating Activities $706.0M $271.0M
YoY Change 160.52% -66.58%
INVESTING ACTIVITIES
Capital Expenditures -$62.00M -$126.0M
YoY Change -50.79% 59.49%
Acquisitions
YoY Change
Other Investing Activities $70.00M $0.00
YoY Change -100.0%
Cash From Investing Activities $8.000M -$126.0M
YoY Change -106.35% -42.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -395.0M -255.0M
YoY Change 54.9% -41.78%
NET CHANGE
Cash From Operating Activities 706.0M 271.0M
Cash From Investing Activities 8.000M -126.0M
Cash From Financing Activities -395.0M -255.0M
Net Change In Cash 319.0M -110.0M
YoY Change -390.0% -172.37%
FREE CASH FLOW
Cash From Operating Activities $706.0M $271.0M
Capital Expenditures -$62.00M -$126.0M
Free Cash Flow $768.0M $397.0M
YoY Change 93.45% -55.39%

Facts In Submission

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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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CY2015Q3 us-gaap Inventory Finished Goods Net Of Reserves
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CY2014Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
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CY2015Q3 us-gaap Inventory Net
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CY2014Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2015Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
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CY2014Q4 us-gaap Inventory Work In Process Net Of Reserves
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LiabilitiesAndStockholdersEquity
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CY2014Q4 us-gaap Liabilities Current
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CY2014Q4 us-gaap Liabilities Noncurrent
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CY2015Q3 us-gaap Liabilities Noncurrent
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CY2014Q4 us-gaap Long Term Debt
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CY2015Q3 us-gaap Long Term Debt
LongTermDebt
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CY2014Q4 us-gaap Long Term Debt Fair Value
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CY2015Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
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CY2014Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2015Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2014Q4 us-gaap Minority Interest
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CY2015Q3 us-gaap Minority Interest
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1158000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1596000000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
7 Segment
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
772000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2015Q3 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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CY2015Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-31000000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-515000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-335000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2014Q4 us-gaap Other Liabilities Noncurrent
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CY2015Q3 us-gaap Other Liabilities Noncurrent
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CY2014Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
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us-gaap Other Nonoperating Income
OtherNonoperatingIncome
36000000 USD
CY2015Q3 us-gaap Other Nonoperating Income
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23000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
65000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
8000000 USD
us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
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us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
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0 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
3000000 USD
us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
43000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
6000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
272000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
209000000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2015Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
287000000 USD
us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
13000000 USD
us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
29000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
93000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
48000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3329000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1098000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-11000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
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us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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21000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
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2293000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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19000000 USD
CY2014Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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2496000000 USD
CY2015Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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1449000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1686000000 USD
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PropertyPlantAndEquipmentNet
1601000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
7000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
801000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
17173000000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
18066000000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
3692000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
10980000000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
3354000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
10130000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
30000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
33000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6824000000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5090000000 USD
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
10798000000 USD
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
12740000000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
396800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
409700000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
367100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
371600000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
394000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
406800000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
365100000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
369300000 shares

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