$ITW
ILLINOIS TOOL WORKS INC

2016 Q3 Form 10-Q Financial Statement

#000004982616000259 Filed on October 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $3.495B $3.354B
YoY Change 4.2% -9.15%
Cost Of Revenue $2.027B $1.953B
YoY Change 3.79% -10.49%
Gross Profit $1.468B $1.401B
YoY Change 4.78% -7.22%
Gross Profit Margin 42.0% 41.77%
Selling, General & Admin $604.0M $581.0M
YoY Change 3.96% -13.93%
% of Gross Profit 41.14% 41.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $120.0M $120.0M
YoY Change 0.0% -6.25%
% of Gross Profit 8.17% 8.57%
Operating Expenses $660.0M $638.0M
YoY Change 3.45% -13.2%
Operating Profit $808.0M $761.0M
YoY Change 6.18% -1.42%
Interest Expense $58.00M $59.00M
YoY Change -1.69% -13.24%
% of Operating Profit 7.18% 7.75%
Other Income/Expense, Net $13.00M $23.00M
YoY Change -43.48% 15.0%
Pretax Income $763.0M $725.0M
YoY Change 5.24% 0.14%
Income Tax $228.0M $214.0M
% Of Pretax Income 29.88% 29.52%
Net Earnings $535.0M $511.0M
YoY Change 4.7% -3.77%
Net Earnings / Revenue 15.31% 15.24%
Basic Earnings Per Share $1.51 $1.40
Diluted Earnings Per Share $1.50 $1.39
COMMON SHARES
Basic Shares Outstanding 353.5M shares 365.1M shares
Diluted Shares Outstanding 355.5M shares 367.1M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.299B $3.001B
YoY Change -23.39% -37.74%
Cash & Equivalents $2.299B $3.001B
Short-Term Investments
Other Short-Term Assets $223.0M $476.0M
YoY Change -53.15% -13.14%
Inventory $1.167B $1.153B
Prepaid Expenses
Receivables $2.496B $2.339B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.185B $6.969B
YoY Change -11.25% -23.85%
LONG-TERM ASSETS
Property, Plant & Equipment $1.702B $1.601B
YoY Change 6.31% -5.43%
Goodwill $4.711B $4.470B
YoY Change 5.39% -6.31%
Intangibles $1.480B $1.618B
YoY Change -8.53% -11.34%
Long-Term Investments
YoY Change
Other Assets $1.164B $1.160B
YoY Change 0.34% -7.79%
Total Long-Term Assets $9.524B $9.135B
YoY Change 4.26% -7.5%
TOTAL ASSETS
Total Short-Term Assets $6.185B $6.969B
Total Long-Term Assets $9.524B $9.135B
Total Assets $15.71B $16.10B
YoY Change -2.45% -15.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $582.0M $498.0M
YoY Change 16.87% -16.16%
Accrued Expenses $1.180B $1.137B
YoY Change 3.78% -13.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.364B $812.0M
YoY Change 67.98% -45.72%
Total Short-Term Liabilities $3.486B $2.724B
YoY Change 27.97% -29.69%
LONG-TERM LIABILITIES
Long-Term Debt $6.329B $7.000B
YoY Change -9.59% 16.01%
Other Long-Term Liabilities $970.0M $948.0M
YoY Change 2.32% 5.22%
Total Long-Term Liabilities $7.430B $8.290B
YoY Change -10.37% 12.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.486B $2.724B
Total Long-Term Liabilities $7.430B $8.290B
Total Liabilities $10.92B $11.01B
YoY Change -0.89% -1.9%
SHAREHOLDERS EQUITY
Retained Earnings $19.22B $18.07B
YoY Change 6.4% 6.84%
Common Stock $1.180B $1.130B
YoY Change 4.42% 4.44%
Preferred Stock
YoY Change
Treasury Stock (at cost) $14.15B $12.74B
YoY Change 11.04% 26.8%
Treasury Stock Shares
Shareholders Equity $4.788B $5.086B
YoY Change
Total Liabilities & Shareholders Equity $15.71B $16.10B
YoY Change -2.45% -15.37%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $535.0M $511.0M
YoY Change 4.7% -3.77%
Depreciation, Depletion And Amortization $120.0M $120.0M
YoY Change 0.0% -6.25%
Cash From Operating Activities $624.0M $706.0M
YoY Change -11.61% 160.52%
INVESTING ACTIVITIES
Capital Expenditures -$81.00M -$62.00M
YoY Change 30.65% -50.79%
Acquisitions
YoY Change
Other Investing Activities -$441.0M $70.00M
YoY Change -730.0%
Cash From Investing Activities -$522.0M $8.000M
YoY Change -6625.0% -106.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -155.0M -395.0M
YoY Change -60.76% 54.9%
NET CHANGE
Cash From Operating Activities 624.0M 706.0M
Cash From Investing Activities -522.0M 8.000M
Cash From Financing Activities -155.0M -395.0M
Net Change In Cash -53.00M 319.0M
YoY Change -116.61% -390.0%
FREE CASH FLOW
Cash From Operating Activities $624.0M $706.0M
Capital Expenditures -$81.00M -$62.00M
Free Cash Flow $705.0M $768.0M
YoY Change -8.2% 93.45%

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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
15000000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
981000000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
970000000 USD
CY2015Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
23000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
65000000 USD
CY2016Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
13000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
34000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
7000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-4000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
3000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
8000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2002000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1482000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
542000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
593000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
6000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
456000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
209000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
202000000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
341000000 USD
CY2016Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
223000000 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
1000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
48000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
74000000 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
-11000000 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
-662000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
188000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
17000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
17000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
19000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
11000000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
511000000 USD
us-gaap Profit Loss
ProfitLoss
1449000000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
535000000 USD
us-gaap Profit Loss
ProfitLoss
1528000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1577000000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1702000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6000000 USD
CY2015Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
2203000000 USD
CY2016Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
2496000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
18316000000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
19223000000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
3354000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
10130000000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
3495000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
10200000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
33000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
31000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5228000000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4793000000 USD
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
12729000000 USD
CY2016Q3 us-gaap Treasury Stock Value
TreasuryStockValue
14147000000 USD
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
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
355500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
359300000 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
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
353500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
357300000 shares

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