$ITW
ILLINOIS TOOL WORKS INC

2018 Q2 Form 10-Q Financial Statement

#000004982618000089 Filed on August 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $3.831B $3.599B
YoY Change 6.45% 4.9%
Cost Of Revenue $2.231B $2.087B
YoY Change 6.9% 6.1%
Gross Profit $1.600B $1.512B
YoY Change 5.82% 3.28%
Gross Profit Margin 41.76% 42.01%
Selling, General & Admin $620.0M $603.0M
YoY Change 2.82% -2.27%
% of Gross Profit 38.75% 39.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $116.0M $114.0M
YoY Change 1.75% -0.87%
% of Gross Profit 7.25% 7.54%
Operating Expenses $668.0M $655.0M
YoY Change 1.98% -2.53%
Operating Profit $932.0M $872.0M
YoY Change 6.88% 10.1%
Interest Expense $64.00M $65.00M
YoY Change -1.54% 12.07%
% of Operating Profit 6.87% 7.45%
Other Income/Expense, Net $26.00M $12.00M
YoY Change 116.67% -29.41%
Pretax Income $894.0M $819.0M
YoY Change 9.16% 9.05%
Income Tax $228.0M $232.0M
% Of Pretax Income 25.5% 28.33%
Net Earnings $666.0M $587.0M
YoY Change 13.46% 11.81%
Net Earnings / Revenue 17.38% 16.31%
Basic Earnings Per Share $1.98 $1.70
Diluted Earnings Per Share $1.97 $1.69
COMMON SHARES
Basic Shares Outstanding 336.7M shares 344.7M shares
Diluted Shares Outstanding 338.9M shares 347.5M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.628B $2.496B
YoY Change -34.78% 5.99%
Cash & Equivalents $1.628B $2.496B
Short-Term Investments
Other Short-Term Assets $293.0M $246.0M
YoY Change 19.11% -3.15%
Inventory $1.320B $1.199B
Prepaid Expenses
Receivables $2.878B $2.629B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.119B $6.570B
YoY Change -6.86% 6.53%
LONG-TERM ASSETS
Property, Plant & Equipment $1.783B $1.726B
YoY Change 3.3% 9.24%
Goodwill $4.675B $4.675B
YoY Change 0.0% 4.68%
Intangibles $1.177B $1.366B
YoY Change -13.84% -5.2%
Long-Term Investments
YoY Change
Other Assets $1.174B $1.097B
YoY Change 7.02% -0.45%
Total Long-Term Assets $9.404B $9.352B
YoY Change 0.56% 3.28%
TOTAL ASSETS
Total Short-Term Assets $6.119B $6.570B
Total Long-Term Assets $9.404B $9.352B
Total Assets $15.52B $15.92B
YoY Change -2.51% 4.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $623.0M $582.0M
YoY Change 7.04% 12.14%
Accrued Expenses $1.224B $1.172B
YoY Change 4.44% 5.02%
Deferred Revenue
YoY Change
Short-Term Debt $2.000M $0.00
YoY Change
Long-Term Debt Due $1.348B $691.0M
YoY Change 95.08% -20.02%
Total Short-Term Liabilities $3.547B $2.826B
YoY Change 25.51% 0.07%
LONG-TERM LIABILITIES
Long-Term Debt $6.069B $7.360B
YoY Change -17.54% 16.83%
Other Long-Term Liabilities $854.0M $841.0M
YoY Change 1.55% -15.82%
Total Long-Term Liabilities $8.188B $8.322B
YoY Change -1.61% 11.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.547B $2.826B
Total Long-Term Liabilities $8.188B $8.322B
Total Liabilities $11.74B $11.15B
YoY Change 5.27% 8.53%
SHAREHOLDERS EQUITY
Retained Earnings $20.63B $20.18B
YoY Change 2.24% 6.68%
Common Stock $1.237B $1.202B
YoY Change 2.91% 3.26%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.56B $15.10B
YoY Change 9.67% 10.47%
Treasury Stock Shares
Shareholders Equity $3.785B $4.771B
YoY Change
Total Liabilities & Shareholders Equity $15.52B $15.92B
YoY Change -2.51% 4.6%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $666.0M $587.0M
YoY Change 13.46% 11.81%
Depreciation, Depletion And Amortization $116.0M $114.0M
YoY Change 1.75% -0.87%
Cash From Operating Activities $620.0M $464.0M
YoY Change 33.62% -13.27%
INVESTING ACTIVITIES
Capital Expenditures -$87.00M -$77.00M
YoY Change 12.99% 20.31%
Acquisitions
YoY Change
Other Investing Activities $11.00M $12.00M
YoY Change -8.33% -1300.0%
Cash From Investing Activities -$76.00M -$65.00M
YoY Change 16.92% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -774.0M -429.0M
YoY Change 80.42% -10.81%
NET CHANGE
Cash From Operating Activities 620.0M 464.0M
Cash From Investing Activities -76.00M -65.00M
Cash From Financing Activities -774.0M -429.0M
Net Change In Cash -230.0M -30.00M
YoY Change 666.67% 172.73%
FREE CASH FLOW
Cash From Operating Activities $620.0M $464.0M
Capital Expenditures -$87.00M -$77.00M
Free Cash Flow $707.0M $541.0M
YoY Change 30.68% -9.68%

Facts In Submission

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CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
872000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-10000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-20000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1679000000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
932000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1835000000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1195000000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1174000000 USD
CY2018Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-9000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-18000000 USD
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
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-299000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-216000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
882000000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
854000000 USD
CY2017Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
12000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
18000000 USD
CY2018Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
26000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
38000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
4000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
5000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
2000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
500000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
450000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
530000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
3000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
141000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
181000000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
336000000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
293000000 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
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
45000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-13000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-12000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
691000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-850000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
18000000 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
3000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
8000000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
587000000 USD
us-gaap Profit Loss
ProfitLoss
1123000000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
666000000 USD
us-gaap Profit Loss
ProfitLoss
1318000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1778000000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1783000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3000000 USD
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
2628000000 USD
CY2018Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
2878000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
652000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20210000000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20633000000 USD
CY2017Q2 us-gaap Revenues
Revenues
3599000000 USD
us-gaap Revenues
Revenues
7070000000 USD
CY2018Q2 us-gaap Revenues
Revenues
3831000000 USD
us-gaap Revenues
Revenues
7575000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
19000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
20000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4589000000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3788000000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
15562000000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
16555000000 USD
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
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
338900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
340800000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
344700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
345400000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
336700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
338500000 shares

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