$ITW
ILLINOIS TOOL WORKS INC

2018 Q3 Form 10-Q Financial Statement

#000004982618000106 Filed on November 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $3.613B $3.615B
YoY Change -0.06% 3.43%
Cost Of Revenue $2.096B $2.092B
YoY Change 0.19% 3.21%
Gross Profit $1.517B $1.523B
YoY Change -0.39% 3.75%
Gross Profit Margin 41.99% 42.13%
Selling, General & Admin $581.0M $592.0M
YoY Change -1.86% -1.99%
% of Gross Profit 38.3% 38.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $115.0M $116.0M
YoY Change -0.86% -3.33%
% of Gross Profit 7.58% 7.62%
Operating Expenses $628.0M $643.0M
YoY Change -2.33% -2.58%
Operating Profit $889.0M $960.0M
YoY Change -7.4% 18.81%
Interest Expense $64.00M $65.00M
YoY Change -1.54% 12.07%
% of Operating Profit 7.2% 6.77%
Other Income/Expense, Net $10.00M $11.00M
YoY Change -9.09% -15.38%
Pretax Income $835.0M $906.0M
YoY Change -7.84% 18.74%
Income Tax $197.0M $266.0M
% Of Pretax Income 23.59% 29.36%
Net Earnings $638.0M $640.0M
YoY Change -0.31% 19.63%
Net Earnings / Revenue 17.66% 17.7%
Basic Earnings Per Share $1.91 $1.86
Diluted Earnings Per Share $1.90 $1.85
COMMON SHARES
Basic Shares Outstanding 333.3M shares 343.4M shares
Diluted Shares Outstanding 335.3M shares 346.0M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.589B $2.785B
YoY Change -42.94% 21.14%
Cash & Equivalents $1.589B $2.785B
Short-Term Investments
Other Short-Term Assets $236.0M $230.0M
YoY Change 2.61% 3.14%
Inventory $1.338B $1.225B
Prepaid Expenses
Receivables $2.777B $2.672B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.940B $6.912B
YoY Change -14.06% 11.75%
LONG-TERM ASSETS
Property, Plant & Equipment $1.799B $1.759B
YoY Change 2.27% 3.35%
Goodwill $4.655B $4.732B
YoY Change -1.63% 0.45%
Intangibles $1.130B $1.319B
YoY Change -14.33% -10.88%
Long-Term Investments
YoY Change
Other Assets $1.181B $1.119B
YoY Change 5.54% -3.87%
Total Long-Term Assets $9.379B $9.402B
YoY Change -0.24% -1.28%
TOTAL ASSETS
Total Short-Term Assets $5.940B $6.912B
Total Long-Term Assets $9.379B $9.402B
Total Assets $15.32B $16.31B
YoY Change -6.1% 3.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $576.0M $585.0M
YoY Change -1.54% 0.52%
Accrued Expenses $1.268B $1.231B
YoY Change 3.01% 4.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.350B $698.0M
YoY Change 93.41% -48.83%
Total Short-Term Liabilities $3.663B $2.867B
YoY Change 27.76% -17.76%
LONG-TERM LIABILITIES
Long-Term Debt $6.054B $7.439B
YoY Change -18.62% 17.54%
Other Long-Term Liabilities $853.0M $870.0M
YoY Change -1.95% -10.31%
Total Long-Term Liabilities $8.110B $8.421B
YoY Change -3.69% 13.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.663B $2.867B
Total Long-Term Liabilities $8.110B $8.421B
Total Liabilities $11.77B $11.29B
YoY Change 4.3% 3.41%
SHAREHOLDERS EQUITY
Retained Earnings $20.94B $20.55B
YoY Change 1.87% 6.92%
Common Stock $1.247B $1.213B
YoY Change 2.8% 2.8%
Preferred Stock
YoY Change
Treasury Stock (at cost) $17.05B $15.34B
YoY Change 11.2% 8.4%
Treasury Stock Shares
Shareholders Equity $3.542B $5.023B
YoY Change
Total Liabilities & Shareholders Equity $15.32B $16.31B
YoY Change -6.1% 3.85%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $638.0M $640.0M
YoY Change -0.31% 19.63%
Depreciation, Depletion And Amortization $115.0M $116.0M
YoY Change -0.86% -3.33%
Cash From Operating Activities $844.0M $780.0M
YoY Change 8.21% 25.0%
INVESTING ACTIVITIES
Capital Expenditures -$101.0M -$78.00M
YoY Change 29.49% -3.7%
Acquisitions
YoY Change
Other Investing Activities $8.000M $6.000M
YoY Change 33.33% -101.36%
Cash From Investing Activities -$93.00M -$72.00M
YoY Change 29.17% -86.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -761.0M -455.0M
YoY Change 67.25% 193.55%
NET CHANGE
Cash From Operating Activities 844.0M 780.0M
Cash From Investing Activities -93.00M -72.00M
Cash From Financing Activities -761.0M -455.0M
Net Change In Cash -10.00M 253.0M
YoY Change -103.95% -577.36%
FREE CASH FLOW
Cash From Operating Activities $844.0M $780.0M
Capital Expenditures -$101.0M -$78.00M
Free Cash Flow $945.0M $858.0M
YoY Change 10.14% 21.7%

Facts In Submission

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CY2017Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
8052000000 USD
CY2018Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
7659000000 USD
CY2017Q4 us-gaap Minority Interest
MinorityInterest
4000000 USD
CY2018Q3 us-gaap Minority Interest
MinorityInterest
4000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1334000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3143000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-194000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-258000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1707000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2002000000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
7 Segment
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
960000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
2639000000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
889000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
2724000000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1195000000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1181000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-13000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-33000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-8000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-26000000 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
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-67000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-283000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
882000000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
853000000 USD
CY2017Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
11000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
29000000 USD
CY2018Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
10000000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
48000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
6000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
6000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
7000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
4000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
750000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1500000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
674000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
792000000 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
219000000 USD
us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
2000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
282000000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
336000000 USD
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
236000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
58000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11000000 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
697000000 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
25000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
13000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
8000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
14000000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
640000000 USD
us-gaap Profit Loss
ProfitLoss
1763000000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
638000000 USD
us-gaap Profit Loss
ProfitLoss
1956000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1778000000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1799000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4000000 USD
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
2628000000 USD
CY2018Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
2777000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
652000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20210000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20938000000 USD
CY2017Q3 us-gaap Revenues
Revenues
3615000000 USD
us-gaap Revenues
Revenues
10685000000 USD
CY2018Q3 us-gaap Revenues
Revenues
3613000000 USD
us-gaap Revenues
Revenues
11188000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
27000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
31000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4589000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3546000000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
15562000000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
17054000000 USD
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
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
335300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
339000000 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
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
333300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
336700000 shares

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