$ITW
ILLINOIS TOOL WORKS INC

2021 Q3 Form 10-Q Financial Statement

#000004982621000079 Filed on October 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $3.556B $3.307B
YoY Change 7.53% -4.94%
Cost Of Revenue $2.096B $1.910B
YoY Change 9.74% -4.83%
Gross Profit $1.460B $1.397B
YoY Change 4.51% -5.1%
Gross Profit Margin 41.06% 42.24%
Selling, General & Admin $581.0M $560.0M
YoY Change 3.75% -1.06%
% of Gross Profit 39.79% 40.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $104.0M $118.0M
YoY Change -11.86% 13.46%
% of Gross Profit 7.12% 8.45%
Operating Expenses $615.0M $608.0M
YoY Change 1.15% 0.66%
Operating Profit $845.0M $789.0M
YoY Change 7.1% -9.1%
Interest Expense $49.00M $52.00M
YoY Change -5.77% 0.0%
% of Operating Profit 5.8% 6.59%
Other Income/Expense, Net $10.00M $2.000M
YoY Change 400.0% -92.31%
Pretax Income $806.0M $739.0M
YoY Change 9.07% -12.23%
Income Tax $167.0M $157.0M
% Of Pretax Income 20.72% 21.24%
Net Earnings $639.0M $582.0M
YoY Change 9.79% -11.82%
Net Earnings / Revenue 17.97% 17.6%
Basic Earnings Per Share $2.03 $1.84
Diluted Earnings Per Share $2.02 $1.83
COMMON SHARES
Basic Shares Outstanding 314.6M shares 316.5M shares
Diluted Shares Outstanding 315.9M shares 317.9M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.987B $2.169B
YoY Change -8.39% 18.85%
Cash & Equivalents $1.987B $2.169B
Short-Term Investments
Other Short-Term Assets $337.0M $219.0M
YoY Change 53.88% -69.24%
Inventory $1.524B $1.149B
Prepaid Expenses
Receivables $2.729B $2.494B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.577B $6.031B
YoY Change 9.05% -3.43%
LONG-TERM ASSETS
Property, Plant & Equipment $1.744B $1.736B
YoY Change 0.46% 2.54%
Goodwill $4.610B $4.591B
YoY Change 0.41% 3.63%
Intangibles $683.0M $814.0M
YoY Change -16.09% -8.54%
Long-Term Investments
YoY Change
Other Assets $1.323B $1.259B
YoY Change 5.08% 2.94%
Total Long-Term Assets $8.940B $8.909B
YoY Change 0.35% 2.23%
TOTAL ASSETS
Total Short-Term Assets $6.577B $6.031B
Total Long-Term Assets $8.940B $8.909B
Total Assets $15.52B $14.94B
YoY Change 3.86% -0.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $565.0M $521.0M
YoY Change 8.45% 5.68%
Accrued Expenses $1.399B $1.263B
YoY Change 10.77% 2.77%
Deferred Revenue
YoY Change
Short-Term Debt $579.0M $353.0M
YoY Change 64.02%
Long-Term Debt Due $579.0M $353.0M
YoY Change 64.02%
Total Short-Term Liabilities $2.996B $2.540B
YoY Change 17.95% 14.26%
LONG-TERM LIABILITIES
Long-Term Debt $6.972B $7.592B
YoY Change -8.17% -0.67%
Other Long-Term Liabilities $1.058B $1.027B
YoY Change 3.02% 8.56%
Total Long-Term Liabilities $9.028B $9.703B
YoY Change -6.96% -0.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.996B $2.540B
Total Long-Term Liabilities $9.028B $9.703B
Total Liabilities $12.02B $12.24B
YoY Change -1.79% 2.11%
SHAREHOLDERS EQUITY
Retained Earnings $24.10B $22.83B
YoY Change 5.54% 3.3%
Common Stock $1.422B $1.352B
YoY Change 5.18% 4.64%
Preferred Stock
YoY Change
Treasury Stock (at cost) $20.39B $19.65B
YoY Change 3.76% 5.47%
Treasury Stock Shares
Shareholders Equity $3.492B $2.696B
YoY Change
Total Liabilities & Shareholders Equity $15.52B $14.94B
YoY Change 3.86% -0.13%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $639.0M $582.0M
YoY Change 9.79% -11.82%
Depreciation, Depletion And Amortization $104.0M $118.0M
YoY Change -11.86% 13.46%
Cash From Operating Activities $619.0M $683.0M
YoY Change -9.37% -25.76%
INVESTING ACTIVITIES
Capital Expenditures -$71.00M -$52.00M
YoY Change 36.54% -42.22%
Acquisitions
YoY Change
Other Investing Activities $9.000M $4.000M
YoY Change 125.0% -80.95%
Cash From Investing Activities -$62.00M -$48.00M
YoY Change 29.17% -30.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -608.0M -306.0M
YoY Change 98.69% -54.4%
NET CHANGE
Cash From Operating Activities 619.0M 683.0M
Cash From Investing Activities -62.00M -48.00M
Cash From Financing Activities -608.0M -306.0M
Net Change In Cash -51.00M 329.0M
YoY Change -115.5% 82.78%
FREE CASH FLOW
Cash From Operating Activities $619.0M $683.0M
Capital Expenditures -$71.00M -$52.00M
Free Cash Flow $690.0M $735.0M
YoY Change -6.12% -27.23%

Facts In Submission

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ILLINOIS TOOL WORKS INC
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us-gaap Goodwill And Intangible Asset Impairment
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us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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