$ITW
ILLINOIS TOOL WORKS INC

2016 Q2 Form 10-Q Financial Statement

#000004982616000240 Filed on August 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $3.431B $3.434B
YoY Change -0.09% -7.66%
Cost Of Revenue $1.967B $2.024B
YoY Change -2.82% -8.79%
Gross Profit $1.464B $1.410B
YoY Change 3.83% -6.0%
Gross Profit Margin 42.67% 41.06%
Selling, General & Admin $617.0M $622.0M
YoY Change -0.8% -8.12%
% of Gross Profit 42.14% 44.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $115.0M $118.0M
YoY Change -2.54% -8.53%
% of Gross Profit 7.86% 8.37%
Operating Expenses $672.0M $680.0M
YoY Change -1.18% -7.73%
Operating Profit $792.0M $730.0M
YoY Change 8.49% -4.33%
Interest Expense $58.00M $55.00M
YoY Change 5.45% -14.06%
% of Operating Profit 7.32% 7.53%
Other Income/Expense, Net $17.00M $21.00M
YoY Change -19.05% 200.0%
Pretax Income $751.0M $696.0M
YoY Change 7.9% -1.42%
Income Tax $226.0M $216.0M
% Of Pretax Income 30.09% 31.03%
Net Earnings $525.0M $480.0M
YoY Change 9.38% -67.83%
Net Earnings / Revenue 15.3% 13.98%
Basic Earnings Per Share $1.47 $1.31
Diluted Earnings Per Share $1.46 $1.30
COMMON SHARES
Basic Shares Outstanding 356.6M shares 366.2M shares
Diluted Shares Outstanding 358.5M shares 368.4M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.355B $2.858B
YoY Change -17.6% -46.04%
Cash & Equivalents $2.355B $2.858B
Short-Term Investments
Other Short-Term Assets $254.0M $572.0M
YoY Change -55.59% -3.21%
Inventory $1.145B $1.191B
Prepaid Expenses
Receivables $2.413B $2.412B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.167B $7.033B
YoY Change -12.31% -28.17%
LONG-TERM ASSETS
Property, Plant & Equipment $1.580B $1.636B
YoY Change -3.42% -3.76%
Goodwill $4.466B $4.543B
YoY Change -1.69% -7.36%
Intangibles $1.441B $1.679B
YoY Change -14.18% -10.5%
Long-Term Investments
YoY Change
Other Assets $1.102B $1.159B
YoY Change -4.92% -10.64%
Total Long-Term Assets $9.055B $9.315B
YoY Change -2.79% -8.18%
TOTAL ASSETS
Total Short-Term Assets $6.167B $7.033B
Total Long-Term Assets $9.055B $9.315B
Total Assets $15.22B $16.35B
YoY Change -6.89% -18.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $519.0M $533.0M
YoY Change -2.63% -21.96%
Accrued Expenses $1.116B $1.147B
YoY Change -2.7% -10.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $864.0M $819.0M
YoY Change 5.49% -23.46%
Total Short-Term Liabilities $2.824B $2.746B
YoY Change 2.84% -30.0%
LONG-TERM LIABILITIES
Long-Term Debt $6.300B $6.994B
YoY Change -9.92% 13.91%
Other Long-Term Liabilities $999.0M $939.0M
YoY Change 6.39% 2.29%
Total Long-Term Liabilities $7.448B $8.296B
YoY Change -10.22% 9.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.824B $2.746B
Total Long-Term Liabilities $7.448B $8.296B
Total Liabilities $10.27B $11.04B
YoY Change -6.97% -3.95%
SHAREHOLDERS EQUITY
Retained Earnings $18.92B $17.76B
YoY Change 6.54% 7.16%
Common Stock $1.164B $1.119B
YoY Change 4.02% 4.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.66B $12.53B
YoY Change 9.09% 31.0%
Treasury Stock Shares
Shareholders Equity $4.946B $5.302B
YoY Change
Total Liabilities & Shareholders Equity $15.22B $16.35B
YoY Change -6.89% -18.0%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $525.0M $480.0M
YoY Change 9.38% -67.83%
Depreciation, Depletion And Amortization $115.0M $118.0M
YoY Change -2.54% -8.53%
Cash From Operating Activities $535.0M $448.0M
YoY Change 19.42% -21.82%
INVESTING ACTIVITIES
Capital Expenditures -$64.00M -$64.00M
YoY Change 0.0% -17.95%
Acquisitions
YoY Change
Other Investing Activities -$1.000M -$39.00M
YoY Change -97.44% -101.21%
Cash From Investing Activities -$65.00M -$103.0M
YoY Change -36.89% -103.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -481.0M -262.0M
YoY Change 83.59% -86.87%
NET CHANGE
Cash From Operating Activities 535.0M 448.0M
Cash From Investing Activities -65.00M -103.0M
Cash From Financing Activities -481.0M -262.0M
Net Change In Cash -11.00M 83.00M
YoY Change -113.25% -95.17%
FREE CASH FLOW
Cash From Operating Activities $535.0M $448.0M
Capital Expenditures -$64.00M -$64.00M
Free Cash Flow $599.0M $512.0M
YoY Change 16.99% -21.35%

Facts In Submission

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us-gaap Payments For Repurchase Of Common Stock
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1786000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
147000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
42000000 USD
CY2016Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
17000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
21000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
7000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
52000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
365000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
398000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
6000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
121000000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
341000000 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
254000000 USD
us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
29000000 USD
us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
2000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
47000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
57000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1098000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-13000000 USD
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
-656000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-311000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
3000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
10000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
12000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4000000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
480000000 USD
us-gaap Profit Loss
ProfitLoss
938000000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
525000000 USD
us-gaap Profit Loss
ProfitLoss
993000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1577000000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1580000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6000000 USD
CY2015Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
2203000000 USD
CY2016Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
2413000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
18316000000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
18916000000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
3434000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
6776000000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
3431000000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
13664000000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
368400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
361200000 shares
us-gaap Sales Revenue Net
SalesRevenueNet
6705000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
24000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
20000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5228000000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4950000000 USD
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
12729000000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
373800000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
358500000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
366200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
371400000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
356600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
359300000 shares

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