$ITW
ILLINOIS TOOL WORKS INC

2019 Q3 Form 10-Q Financial Statement

#000004982619000103 Filed on October 28, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $3.479B $3.613B
YoY Change -3.71% -0.06%
Cost Of Revenue $2.007B $2.096B
YoY Change -4.25% 0.19%
Gross Profit $1.472B $1.517B
YoY Change -2.97% -0.39%
Gross Profit Margin 42.31% 41.99%
Selling, General & Admin $566.0M $581.0M
YoY Change -2.58% -1.86%
% of Gross Profit 38.45% 38.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $104.0M $115.0M
YoY Change -9.57% -0.86%
% of Gross Profit 7.07% 7.58%
Operating Expenses $604.0M $628.0M
YoY Change -3.82% -2.33%
Operating Profit $868.0M $889.0M
YoY Change -2.36% -7.4%
Interest Expense $52.00M $64.00M
YoY Change -18.75% -1.54%
% of Operating Profit 5.99% 7.2%
Other Income/Expense, Net $26.00M $10.00M
YoY Change 160.0% -9.09%
Pretax Income $842.0M $835.0M
YoY Change 0.84% -7.84%
Income Tax $182.0M $197.0M
% Of Pretax Income 21.62% 23.59%
Net Earnings $660.0M $638.0M
YoY Change 3.45% -0.31%
Net Earnings / Revenue 18.97% 17.66%
Basic Earnings Per Share $2.05 $1.91
Diluted Earnings Per Share $2.04 $1.90
COMMON SHARES
Basic Shares Outstanding 322.3M shares 333.3M shares
Diluted Shares Outstanding 324.0M shares 335.3M shares

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.825B $1.589B
YoY Change 14.85% -42.94%
Cash & Equivalents $1.825B $1.589B
Short-Term Investments
Other Short-Term Assets $712.0M $236.0M
YoY Change 201.69% 2.61%
Inventory $1.209B $1.338B
Prepaid Expenses
Receivables $2.499B $2.777B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.245B $5.940B
YoY Change 5.13% -14.06%
LONG-TERM ASSETS
Property, Plant & Equipment $1.693B $1.799B
YoY Change -5.89% 2.27%
Goodwill $4.430B $4.655B
YoY Change -4.83% -1.63%
Intangibles $890.0M $1.130B
YoY Change -21.24% -14.33%
Long-Term Investments
YoY Change
Other Assets $1.223B $1.181B
YoY Change 3.56% 5.54%
Total Long-Term Assets $8.715B $9.379B
YoY Change -7.08% -0.24%
TOTAL ASSETS
Total Short-Term Assets $6.245B $5.940B
Total Long-Term Assets $8.715B $9.379B
Total Assets $14.96B $15.32B
YoY Change -2.34% -6.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $493.0M $576.0M
YoY Change -14.41% -1.54%
Accrued Expenses $1.229B $1.268B
YoY Change -3.08% 3.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $1.350B
YoY Change -100.0% 93.41%
Total Short-Term Liabilities $2.223B $3.663B
YoY Change -39.31% 27.76%
LONG-TERM LIABILITIES
Long-Term Debt $7.643B $6.054B
YoY Change 26.25% -18.62%
Other Long-Term Liabilities $946.0M $853.0M
YoY Change 10.9% -1.95%
Total Long-Term Liabilities $9.767B $8.110B
YoY Change 20.43% -3.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.223B $3.663B
Total Long-Term Liabilities $9.767B $8.110B
Total Liabilities $11.99B $11.77B
YoY Change 1.84% 4.3%
SHAREHOLDERS EQUITY
Retained Earnings $22.10B $20.94B
YoY Change 5.57% 1.87%
Common Stock $1.292B $1.247B
YoY Change 3.61% 2.8%
Preferred Stock
YoY Change
Treasury Stock (at cost) $18.63B $17.05B
YoY Change 9.25% 11.2%
Treasury Stock Shares
Shareholders Equity $2.966B $3.542B
YoY Change
Total Liabilities & Shareholders Equity $14.96B $15.32B
YoY Change -2.34% -6.1%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $660.0M $638.0M
YoY Change 3.45% -0.31%
Depreciation, Depletion And Amortization $104.0M $115.0M
YoY Change -9.57% -0.86%
Cash From Operating Activities $920.0M $844.0M
YoY Change 9.0% 8.21%
INVESTING ACTIVITIES
Capital Expenditures -$90.00M -$101.0M
YoY Change -10.89% 29.49%
Acquisitions
YoY Change
Other Investing Activities $21.00M $8.000M
YoY Change 162.5% 33.33%
Cash From Investing Activities -$69.00M -$93.00M
YoY Change -25.81% 29.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -671.0M -761.0M
YoY Change -11.83% 67.25%
NET CHANGE
Cash From Operating Activities 920.0M 844.0M
Cash From Investing Activities -69.00M -93.00M
Cash From Financing Activities -671.0M -761.0M
Net Change In Cash 180.0M -10.00M
YoY Change -1900.0% -103.95%
FREE CASH FLOW
Cash From Operating Activities $920.0M $844.0M
Capital Expenditures -$90.00M -$101.0M
Free Cash Flow $1.010B $945.0M
YoY Change 6.88% 10.14%

Facts In Submission

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us-gaap Goodwill And Intangible Asset Impairment
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CY2019Q3 us-gaap Inventory Work In Process Net Of Reserves
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us-gaap Lease Cost
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CY2019Q3 us-gaap Operating Lease Liability
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34000000 USD
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223000000 USD
CY2019Q3 us-gaap Commercial Paper
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CY2019Q3 us-gaap Long Term Debt Fair Value
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CY2019Q3 itw Tax Cutsand Jobs Act Reclassificationfrom Aoc Ito Retained Earnings Tax Effect
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CY2018Q3 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
TaxCutsandJobsActReclassificationfromAOCItoRetainedEarningsTaxEffect
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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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CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
351000000 USD
CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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321000000 USD
us-gaap Number Of Reportable Segments
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7 Segment

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