$ITW
ILLINOIS TOOL WORKS INC

2019 Q2 Form 10-Q Financial Statement

#000004982619000088 Filed on August 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $3.609B $3.831B
YoY Change -5.79% 6.45%
Cost Of Revenue $2.099B $2.231B
YoY Change -5.92% 6.9%
Gross Profit $1.510B $1.600B
YoY Change -5.63% 5.82%
Gross Profit Margin 41.84% 41.76%
Selling, General & Admin $598.0M $620.0M
YoY Change -3.55% 2.82%
% of Gross Profit 39.6% 38.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $107.0M $116.0M
YoY Change -7.76% 1.75%
% of Gross Profit 7.09% 7.25%
Operating Expenses $639.0M $668.0M
YoY Change -4.34% 1.98%
Operating Profit $871.0M $932.0M
YoY Change -6.55% 6.88%
Interest Expense $55.00M $64.00M
YoY Change -14.06% -1.54%
% of Operating Profit 6.31% 6.87%
Other Income/Expense, Net $9.000M $26.00M
YoY Change -65.38% 116.67%
Pretax Income $825.0M $894.0M
YoY Change -7.72% 9.16%
Income Tax $202.0M $228.0M
% Of Pretax Income 24.48% 25.5%
Net Earnings $623.0M $666.0M
YoY Change -6.46% 13.46%
Net Earnings / Revenue 17.26% 17.38%
Basic Earnings Per Share $1.92 $1.98
Diluted Earnings Per Share $1.91 $1.97
COMMON SHARES
Basic Shares Outstanding 324.8M shares 336.7M shares
Diluted Shares Outstanding 326.6M shares 338.9M shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.677B $1.628B
YoY Change 3.01% -34.78%
Cash & Equivalents $1.677B $1.628B
Short-Term Investments
Other Short-Term Assets $727.0M $293.0M
YoY Change 148.12% 19.11%
Inventory $1.256B $1.320B
Prepaid Expenses
Receivables $2.629B $2.878B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.289B $6.119B
YoY Change 2.78% -6.86%
LONG-TERM ASSETS
Property, Plant & Equipment $1.717B $1.783B
YoY Change -3.7% 3.3%
Goodwill $4.503B $4.675B
YoY Change -3.68% 0.0%
Intangibles $928.0M $1.177B
YoY Change -21.16% -13.84%
Long-Term Investments
YoY Change
Other Assets $1.234B $1.174B
YoY Change 5.11% 7.02%
Total Long-Term Assets $8.898B $9.404B
YoY Change -5.38% 0.56%
TOTAL ASSETS
Total Short-Term Assets $6.289B $6.119B
Total Long-Term Assets $8.898B $9.404B
Total Assets $15.19B $15.52B
YoY Change -2.16% -2.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $512.0M $623.0M
YoY Change -17.82% 7.04%
Accrued Expenses $1.207B $1.224B
YoY Change -1.39% 4.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $2.000M
YoY Change -100.0%
Long-Term Debt Due $0.00 $1.348B
YoY Change -100.0% 95.08%
Total Short-Term Liabilities $2.188B $3.547B
YoY Change -38.31% 25.51%
LONG-TERM LIABILITIES
Long-Term Debt $7.809B $6.069B
YoY Change 28.67% -17.54%
Other Long-Term Liabilities $950.0M $854.0M
YoY Change 11.24% 1.55%
Total Long-Term Liabilities $9.904B $8.188B
YoY Change 20.96% -1.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.188B $3.547B
Total Long-Term Liabilities $9.904B $8.188B
Total Liabilities $12.09B $11.74B
YoY Change 3.04% 5.27%
SHAREHOLDERS EQUITY
Retained Earnings $21.79B $20.63B
YoY Change 5.6% 2.24%
Common Stock $1.276B $1.237B
YoY Change 3.15% 2.91%
Preferred Stock
YoY Change
Treasury Stock (at cost) $18.28B $16.56B
YoY Change 10.4% 9.67%
Treasury Stock Shares
Shareholders Equity $3.091B $3.785B
YoY Change
Total Liabilities & Shareholders Equity $15.19B $15.52B
YoY Change -2.16% -2.51%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $623.0M $666.0M
YoY Change -6.46% 13.46%
Depreciation, Depletion And Amortization $107.0M $116.0M
YoY Change -7.76% 1.75%
Cash From Operating Activities $685.0M $620.0M
YoY Change 10.48% 33.62%
INVESTING ACTIVITIES
Capital Expenditures -$77.00M -$87.00M
YoY Change -11.49% 12.99%
Acquisitions
YoY Change
Other Investing Activities -$2.000M $11.00M
YoY Change -118.18% -8.33%
Cash From Investing Activities -$79.00M -$76.00M
YoY Change 3.95% 16.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -675.0M -774.0M
YoY Change -12.79% 80.42%
NET CHANGE
Cash From Operating Activities 685.0M 620.0M
Cash From Investing Activities -79.00M -76.00M
Cash From Financing Activities -675.0M -774.0M
Net Change In Cash -69.00M -230.0M
YoY Change -70.0% 666.67%
FREE CASH FLOW
Cash From Operating Activities $685.0M $620.0M
Capital Expenditures -$77.00M -$87.00M
Free Cash Flow $762.0M $707.0M
YoY Change 7.78% 30.68%

Facts In Submission

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34000000 USD
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CY2019Q2 us-gaap Commercial Paper
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CY2018Q2 itw Tax Cutsand Jobs Act Reclassificationfrom Aoc Ito Retained Earnings Tax Effect
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itw Tax Cutsand Jobs Act Reclassificationfrom Aoc Ito Retained Earnings Tax Effect
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itw Tax Cutsand Jobs Act Reclassificationfrom Aoc Ito Retained Earnings Tax Effect
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CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
355000000 USD
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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329000000 USD
us-gaap Number Of Reportable Segments
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7 Segment

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