$ITW
ILLINOIS TOOL WORKS INC

2017 Q2 Form 10-Q Financial Statement

#000004982617000123 Filed on August 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $3.599B $3.431B
YoY Change 4.9% -0.09%
Cost Of Revenue $2.087B $1.967B
YoY Change 6.1% -2.82%
Gross Profit $1.512B $1.464B
YoY Change 3.28% 3.83%
Gross Profit Margin 42.01% 42.67%
Selling, General & Admin $603.0M $617.0M
YoY Change -2.27% -0.8%
% of Gross Profit 39.88% 42.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $114.0M $115.0M
YoY Change -0.87% -2.54%
% of Gross Profit 7.54% 7.86%
Operating Expenses $655.0M $672.0M
YoY Change -2.53% -1.18%
Operating Profit $872.0M $792.0M
YoY Change 10.1% 8.49%
Interest Expense $65.00M $58.00M
YoY Change 12.07% 5.45%
% of Operating Profit 7.45% 7.32%
Other Income/Expense, Net $12.00M $17.00M
YoY Change -29.41% -19.05%
Pretax Income $819.0M $751.0M
YoY Change 9.05% 7.9%
Income Tax $232.0M $226.0M
% Of Pretax Income 28.33% 30.09%
Net Earnings $587.0M $525.0M
YoY Change 11.81% 9.38%
Net Earnings / Revenue 16.31% 15.3%
Basic Earnings Per Share $1.70 $1.47
Diluted Earnings Per Share $1.69 $1.46
COMMON SHARES
Basic Shares Outstanding 344.7M shares 356.6M shares
Diluted Shares Outstanding 347.5M shares 358.5M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.496B $2.355B
YoY Change 5.99% -17.6%
Cash & Equivalents $2.496B $2.355B
Short-Term Investments
Other Short-Term Assets $246.0M $254.0M
YoY Change -3.15% -55.59%
Inventory $1.199B $1.145B
Prepaid Expenses
Receivables $2.629B $2.413B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.570B $6.167B
YoY Change 6.53% -12.31%
LONG-TERM ASSETS
Property, Plant & Equipment $1.726B $1.580B
YoY Change 9.24% -3.42%
Goodwill $4.675B $4.466B
YoY Change 4.68% -1.69%
Intangibles $1.366B $1.441B
YoY Change -5.2% -14.18%
Long-Term Investments
YoY Change
Other Assets $1.097B $1.102B
YoY Change -0.45% -4.92%
Total Long-Term Assets $9.352B $9.055B
YoY Change 3.28% -2.79%
TOTAL ASSETS
Total Short-Term Assets $6.570B $6.167B
Total Long-Term Assets $9.352B $9.055B
Total Assets $15.92B $15.22B
YoY Change 4.6% -6.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $582.0M $519.0M
YoY Change 12.14% -2.63%
Accrued Expenses $1.172B $1.116B
YoY Change 5.02% -2.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $691.0M $864.0M
YoY Change -20.02% 5.49%
Total Short-Term Liabilities $2.826B $2.824B
YoY Change 0.07% 2.84%
LONG-TERM LIABILITIES
Long-Term Debt $7.360B $6.300B
YoY Change 16.83% -9.92%
Other Long-Term Liabilities $841.0M $999.0M
YoY Change -15.82% 6.39%
Total Long-Term Liabilities $8.322B $7.448B
YoY Change 11.73% -10.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.826B $2.824B
Total Long-Term Liabilities $8.322B $7.448B
Total Liabilities $11.15B $10.27B
YoY Change 8.53% -6.97%
SHAREHOLDERS EQUITY
Retained Earnings $20.18B $18.92B
YoY Change 6.68% 6.54%
Common Stock $1.202B $1.164B
YoY Change 3.26% 4.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.10B $13.66B
YoY Change 10.47% 9.09%
Treasury Stock Shares
Shareholders Equity $4.771B $4.946B
YoY Change
Total Liabilities & Shareholders Equity $15.92B $15.22B
YoY Change 4.6% -6.89%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $587.0M $525.0M
YoY Change 11.81% 9.38%
Depreciation, Depletion And Amortization $114.0M $115.0M
YoY Change -0.87% -2.54%
Cash From Operating Activities $464.0M $535.0M
YoY Change -13.27% 19.42%
INVESTING ACTIVITIES
Capital Expenditures -$77.00M -$64.00M
YoY Change 20.31% 0.0%
Acquisitions
YoY Change
Other Investing Activities $12.00M -$1.000M
YoY Change -1300.0% -97.44%
Cash From Investing Activities -$65.00M -$65.00M
YoY Change 0.0% -36.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -429.0M -481.0M
YoY Change -10.81% 83.59%
NET CHANGE
Cash From Operating Activities 464.0M 535.0M
Cash From Investing Activities -65.00M -65.00M
Cash From Financing Activities -429.0M -481.0M
Net Change In Cash -30.00M -11.00M
YoY Change 172.73% -113.25%
FREE CASH FLOW
Cash From Operating Activities $464.0M $535.0M
Capital Expenditures -$77.00M -$64.00M
Free Cash Flow $541.0M $599.0M
YoY Change -9.68% 16.99%

Facts In Submission

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CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
117000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
271000000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
871000000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
841000000 USD
CY2016Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
17000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
21000000 USD
CY2017Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
10000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
14000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
4000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
8000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
500000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
398000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
450000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
3000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
121000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
141000000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
218000000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
246000000 USD
us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
2000000 USD
us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
2000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
57000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
45000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-11000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-13000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-311000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
691000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
10000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
18000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3000000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
525000000 USD
us-gaap Profit Loss
ProfitLoss
993000000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
587000000 USD
us-gaap Profit Loss
ProfitLoss
1123000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1652000000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1726000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2000000 USD
CY2016Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
2357000000 USD
CY2017Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
2629000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
652000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
19505000000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20180000000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
3431000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
6705000000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
3599000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
7070000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
20000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
19000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4259000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4774000000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
14638000000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
15095000000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
358500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
345400000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
344700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
361200000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
347500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
348300000 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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