$ITW
ILLINOIS TOOL WORKS INC

2017 Q3 Form 10-Q Financial Statement

#000004982617000144 Filed on October 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $3.615B $3.495B
YoY Change 3.43% 4.2%
Cost Of Revenue $2.092B $2.027B
YoY Change 3.21% 3.79%
Gross Profit $1.523B $1.468B
YoY Change 3.75% 4.78%
Gross Profit Margin 42.13% 42.0%
Selling, General & Admin $592.0M $604.0M
YoY Change -1.99% 3.96%
% of Gross Profit 38.87% 41.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $116.0M $120.0M
YoY Change -3.33% 0.0%
% of Gross Profit 7.62% 8.17%
Operating Expenses $643.0M $660.0M
YoY Change -2.58% 3.45%
Operating Profit $960.0M $808.0M
YoY Change 18.81% 6.18%
Interest Expense $65.00M $58.00M
YoY Change 12.07% -1.69%
% of Operating Profit 6.77% 7.18%
Other Income/Expense, Net $11.00M $13.00M
YoY Change -15.38% -43.48%
Pretax Income $906.0M $763.0M
YoY Change 18.74% 5.24%
Income Tax $266.0M $228.0M
% Of Pretax Income 29.36% 29.88%
Net Earnings $640.0M $535.0M
YoY Change 19.63% 4.7%
Net Earnings / Revenue 17.7% 15.31%
Basic Earnings Per Share $1.86 $1.51
Diluted Earnings Per Share $1.85 $1.50
COMMON SHARES
Basic Shares Outstanding 343.4M shares 353.5M shares
Diluted Shares Outstanding 346.0M shares 355.5M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.785B $2.299B
YoY Change 21.14% -23.39%
Cash & Equivalents $2.785B $2.299B
Short-Term Investments
Other Short-Term Assets $230.0M $223.0M
YoY Change 3.14% -53.15%
Inventory $1.225B $1.167B
Prepaid Expenses
Receivables $2.672B $2.496B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.912B $6.185B
YoY Change 11.75% -11.25%
LONG-TERM ASSETS
Property, Plant & Equipment $1.759B $1.702B
YoY Change 3.35% 6.31%
Goodwill $4.732B $4.711B
YoY Change 0.45% 5.39%
Intangibles $1.319B $1.480B
YoY Change -10.88% -8.53%
Long-Term Investments
YoY Change
Other Assets $1.119B $1.164B
YoY Change -3.87% 0.34%
Total Long-Term Assets $9.402B $9.524B
YoY Change -1.28% 4.26%
TOTAL ASSETS
Total Short-Term Assets $6.912B $6.185B
Total Long-Term Assets $9.402B $9.524B
Total Assets $16.31B $15.71B
YoY Change 3.85% -2.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $585.0M $582.0M
YoY Change 0.52% 16.87%
Accrued Expenses $1.231B $1.180B
YoY Change 4.32% 3.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $698.0M $1.364B
YoY Change -48.83% 67.98%
Total Short-Term Liabilities $2.867B $3.486B
YoY Change -17.76% 27.97%
LONG-TERM LIABILITIES
Long-Term Debt $7.439B $6.329B
YoY Change 17.54% -9.59%
Other Long-Term Liabilities $870.0M $970.0M
YoY Change -10.31% 2.32%
Total Long-Term Liabilities $8.421B $7.430B
YoY Change 13.34% -10.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.867B $3.486B
Total Long-Term Liabilities $8.421B $7.430B
Total Liabilities $11.29B $10.92B
YoY Change 3.41% -0.89%
SHAREHOLDERS EQUITY
Retained Earnings $20.55B $19.22B
YoY Change 6.92% 6.4%
Common Stock $1.213B $1.180B
YoY Change 2.8% 4.42%
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.34B $14.15B
YoY Change 8.4% 11.04%
Treasury Stock Shares
Shareholders Equity $5.023B $4.788B
YoY Change
Total Liabilities & Shareholders Equity $16.31B $15.71B
YoY Change 3.85% -2.45%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $640.0M $535.0M
YoY Change 19.63% 4.7%
Depreciation, Depletion And Amortization $116.0M $120.0M
YoY Change -3.33% 0.0%
Cash From Operating Activities $780.0M $624.0M
YoY Change 25.0% -11.61%
INVESTING ACTIVITIES
Capital Expenditures -$78.00M -$81.00M
YoY Change -3.7% 30.65%
Acquisitions
YoY Change
Other Investing Activities $6.000M -$441.0M
YoY Change -101.36% -730.0%
Cash From Investing Activities -$72.00M -$522.0M
YoY Change -86.21% -6625.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -455.0M -155.0M
YoY Change 193.55% -60.76%
NET CHANGE
Cash From Operating Activities 780.0M 624.0M
Cash From Investing Activities -72.00M -522.0M
Cash From Financing Activities -455.0M -155.0M
Net Change In Cash 253.0M -53.00M
YoY Change -577.36% -116.61%
FREE CASH FLOW
Cash From Operating Activities $780.0M $624.0M
Capital Expenditures -$78.00M -$81.00M
Free Cash Flow $858.0M $705.0M
YoY Change 21.7% -8.2%

Facts In Submission

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-13000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-33000000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-5000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
15000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
96000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
367000000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
871000000 USD
CY2017Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
870000000 USD
CY2016Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
13000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
34000000 USD
CY2017Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
10000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
24000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-4000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
6000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
8000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
7000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1482000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
750000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
593000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
674000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
456000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
3000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
202000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
219000000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
218000000 USD
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
230000000 USD
us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
1000000 USD
us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
2000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
74000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
58000000 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
188000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
697000000 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
25000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
11000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1652000000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1759000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
7000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3000000 USD
CY2016Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
2357000000 USD
CY2017Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
2672000000 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
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20553000000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
535000000 USD
us-gaap Profit Loss
ProfitLoss
1528000000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
640000000 USD
us-gaap Profit Loss
ProfitLoss
1763000000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
3495000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
10200000000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
3615000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
10685000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
31000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
27000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4259000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5026000000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
14638000000 USD
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
15336000000 USD
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
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
346000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
347500000 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
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
343400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
344700000 shares

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