2023 Q1 Form 10-K Financial Statement

#000004982623000008 Filed on February 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $4.019B $3.971B $15.93B
YoY Change 2.03% 7.94% 10.22%
Cost Of Revenue $2.341B $2.309B $9.429B
YoY Change -0.68% 5.39% 11.07%
Gross Profit $1.678B $1.662B $6.503B
YoY Change 6.07% 11.69% 9.0%
Gross Profit Margin 41.75% 41.85% 40.82%
Selling, General & Admin $675.0M $644.0M $2.579B
YoY Change 3.53% 3.7% 9.47%
% of Gross Profit 40.23% 38.75% 39.66%
Research & Development $269.0M
YoY Change 12.55%
% of Gross Profit 4.14%
Depreciation & Amortization $68.00M $32.00M $134.0M
YoY Change -4.23% -69.23% -51.62%
% of Gross Profit 4.05% 1.93% 2.06%
Operating Expenses $706.0M $676.0M $2.713B
YoY Change 2.77% 3.36% 1035.15%
Operating Profit $972.0M $986.0M $3.790B
YoY Change 8.6% 18.23% 9.0%
Interest Expense $60.00M -$56.00M -$203.0M
YoY Change 25.0% 14.29% -200.5%
% of Operating Profit 6.17% -5.68% -5.36%
Other Income/Expense, Net $10.00M $191.0M $255.0M
YoY Change -28.57% 2628.57% 400.0%
Pretax Income $922.0M $1.121B $3.842B
YoY Change 7.08% 41.54% 130.47%
Income Tax $208.0M $214.0M $808.0M
% Of Pretax Income 22.56% 19.09% 21.03%
Net Earnings $714.0M $907.0M $3.034B
YoY Change 7.85% 48.93% 12.62%
Net Earnings / Revenue 17.77% 22.84% 19.04%
Basic Earnings Per Share $2.34 $9.80
Diluted Earnings Per Share $2.33 $2.946M $9.765M
COMMON SHARES
Basic Shares Outstanding 305.1M shares 309.6M shares
Diluted Shares Outstanding 306.1M shares 310.7M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.143B $708.0M $708.0M
YoY Change -11.81% -53.63% -53.63%
Cash & Equivalents $1.143B $708.0M $708.0M
Short-Term Investments
Other Short-Term Assets $344.0M $337.0M $337.0M
YoY Change -8.75% 140.71% 59.72%
Inventory $2.000B $2.054B $2.054B
Prepaid Expenses
Receivables $3.201B $3.171B $3.171B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.688B $6.270B $6.270B
YoY Change 0.09% -1.63% -1.63%
LONG-TERM ASSETS
Property, Plant & Equipment $1.885B $1.848B $1.848B
YoY Change 5.01% 2.16% -9.01%
Goodwill $4.884B $4.864B
YoY Change -2.48% -2.03%
Intangibles $738.0M $768.0M
YoY Change -15.66% -20.99%
Long-Term Investments
YoY Change
Other Assets $1.223B $1.672B $1.672B
YoY Change -11.38% 19.0% -3.63%
Total Long-Term Assets $9.233B $9.152B $9.152B
YoY Change -3.86% -5.68% -5.68%
TOTAL ASSETS
Total Short-Term Assets $6.688B $6.270B $6.270B
Total Long-Term Assets $9.233B $9.152B $9.152B
Total Assets $15.92B $15.42B $15.42B
YoY Change -2.24% -4.07% -4.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $599.0M $594.0M $594.0M
YoY Change -13.94% 1.54% 1.54%
Accrued Expenses $1.504B $1.728B $1.728B
YoY Change -2.4% 4.85% 37.8%
Deferred Revenue
YoY Change
Short-Term Debt $1.600B $1.590B $1.053B
YoY Change 53.7% 104.37% 401.43%
Long-Term Debt Due $2.870B $1.590B $1.590B
YoY Change 6900.0% 179.93% 179.93%
Total Short-Term Liabilities $5.596B $4.460B $4.460B
YoY Change 45.05% 28.53% 28.53%
LONG-TERM LIABILITIES
Long-Term Debt $5.510B $6.173B $6.173B
YoY Change -19.17% -10.65% -10.65%
Other Long-Term Liabilities $964.0M $1.216B $1.216B
YoY Change -7.04% 15.48% -14.25%
Total Long-Term Liabilities $7.224B $7.389B $7.389B
YoY Change -18.34% -17.73% -11.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.596B $4.460B $4.460B
Total Long-Term Liabilities $7.224B $7.389B $7.389B
Total Liabilities $12.82B $12.33B $12.33B
YoY Change 0.91% -0.94% -0.95%
SHAREHOLDERS EQUITY
Retained Earnings $26.12B $25.80B
YoY Change 6.13% 6.06%
Common Stock $1.532B $1.507B
YoY Change 5.44% 4.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.100B $3.088B $3.088B
YoY Change
Total Liabilities & Shareholders Equity $15.92B $15.42B $15.42B
YoY Change -2.24% -4.07% -4.07%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $714.0M $907.0M $3.034B
YoY Change 7.85% 48.93% 12.62%
Depreciation, Depletion And Amortization $68.00M $32.00M $134.0M
YoY Change -4.23% -69.23% -51.62%
Cash From Operating Activities $728.0M $811.0M $2.348B
YoY Change 125.39% 4.78% -8.17%
INVESTING ACTIVITIES
Capital Expenditures $113.0M $156.0M $412.0M
YoY Change 52.7% -297.47% 39.19%
Acquisitions $0.00 $2.000M
YoY Change -100.0% -99.73%
Other Investing Activities $0.00 $283.0M $1.000M
YoY Change -100.0% -138.82% -66.67%
Cash From Investing Activities -$111.0M $127.0M -$110.0M
YoY Change 52.05% -115.72% -88.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$185.0M -1.035B -$3.000B
YoY Change -62.17% 148.2% 17.0%
NET CHANGE
Cash From Operating Activities $728.0M 811.0M $2.348B
Cash From Investing Activities -$111.0M 127.0M -$110.0M
Cash From Financing Activities -$185.0M -1.035B -$3.000B
Net Change In Cash $435.0M -97.00M -$819.0M
YoY Change -288.31% -78.49% -21.02%
FREE CASH FLOW
Cash From Operating Activities $728.0M $811.0M $2.348B
Capital Expenditures $113.0M $156.0M $412.0M
Free Cash Flow $615.0M $655.0M $1.936B
YoY Change 146.99% -23.21% -14.37%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0000049826
CY2022 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2021Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#OtherAssetsNoncurrent
CY2022Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#OtherAssetsNoncurrent
CY2022Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#AccruedLiabilitiesCurrent
CY2022 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2021Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#AccruedLiabilitiesCurrent
CY2021Q4 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent
CY2022Q4 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent
CY2021Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#OtherAssetsNoncurrent
CY2022Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#OtherAssetsNoncurrent
CY2022Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#AccruedLiabilitiesCurrent
CY2021Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#AccruedLiabilitiesCurrent
CY2022Q4 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent
CY2021Q4 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent
CY2022 dei Document Type
DocumentType
10-K
CY2022 dei Document Annual Report
DocumentAnnualReport
true
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-31
CY2022 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2022 dei Document Transition Report
DocumentTransitionReport
false
CY2022 dei Entity File Number
EntityFileNumber
1-4797
CY2022 dei Entity Registrant Name
EntityRegistrantName
ILLINOIS TOOL WORKS INC
CY2022 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
36-1258310
CY2022 dei Entity Address Address Line1
EntityAddressAddressLine1
155 Harlem Avenue
CY2022 dei Entity Address City Or Town
EntityAddressCityOrTown
Glenview
CY2022 dei Entity Address State Or Province
EntityAddressStateOrProvince
IL
CY2022 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
60025
CY2022 dei City Area Code
CityAreaCode
847
CY2022 dei Local Phone Number
LocalPhoneNumber
724-7500
CY2022 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2022 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2022 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2022 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2022 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2022 dei Entity Small Business
EntitySmallBusiness
false
CY2022 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2022 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
true
CY2022 dei Entity Shell Company
EntityShellCompany
false
CY2022Q2 dei Entity Public Float
EntityPublicFloat
56300000000 usd
CY2023Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
305068141 shares
CY2022 dei Auditor Name
AuditorName
DELOITTE & TOUCHE LLP
CY2022 dei Auditor Location
AuditorLocation
Chicago, Illinois
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15932000000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14455000000 usd
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12574000000 usd
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
9429000000 usd
CY2021 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
8489000000 usd
CY2020 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
7375000000 usd
CY2022 itw Selling Administrative And Research And Development Expenses
SellingAdministrativeAndResearchAndDevelopmentExpenses
2579000000 usd
CY2021 itw Selling Administrative And Research And Development Expenses
SellingAdministrativeAndResearchAndDevelopmentExpenses
2356000000 usd
CY2020 itw Selling Administrative And Research And Development Expenses
SellingAdministrativeAndResearchAndDevelopmentExpenses
2163000000 usd
CY2022 itw Amortizationand Impairmentof Intangible Assets
AmortizationandImpairmentofIntangibleAssets
134000000 usd
CY2021 itw Amortizationand Impairmentof Intangible Assets
AmortizationandImpairmentofIntangibleAssets
133000000 usd
CY2020 itw Amortizationand Impairmentof Intangible Assets
AmortizationandImpairmentofIntangibleAssets
154000000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
3790000000 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
3477000000 usd
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
2882000000 usd
CY2022 us-gaap Interest Expense
InterestExpense
203000000 usd
CY2021 us-gaap Interest Expense
InterestExpense
202000000 usd
CY2020 us-gaap Interest Expense
InterestExpense
206000000 usd
CY2022 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
255000000 usd
CY2021 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
51000000 usd
CY2020 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
28000000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
3842000000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
3326000000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2704000000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
808000000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
632000000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
595000000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
3034000000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
2694000000 usd
CY2020 us-gaap Profit Loss
ProfitLoss
2109000000 usd
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
9.80
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.55
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.66
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
9.77
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.51
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.63
CY2022 us-gaap Profit Loss
ProfitLoss
3034000000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
2694000000 usd
CY2020 us-gaap Profit Loss
ProfitLoss
2109000000 usd
CY2020 us-gaap Profit Loss
ProfitLoss
2109000000 usd
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-242000000 usd
CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
5000000 usd
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
4000000 usd
CY2022 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
97000000 usd
CY2021 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-135000000 usd
CY2020 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-59000000 usd
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-339000000 usd
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
140000000 usd
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
63000000 usd
CY2022 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
2695000000 usd
CY2021 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
2834000000 usd
CY2020 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
2172000000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
708000000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1527000000 usd
CY2022Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
3171000000 usd
CY2021Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
2840000000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
2054000000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1694000000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
329000000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
313000000 usd
CY2022Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
8000000 usd
CY2021Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
0 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
6270000000 usd
CY2021Q4 us-gaap Assets Current
AssetsCurrent
6374000000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1848000000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1809000000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
4864000000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
4965000000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
768000000 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
972000000 usd
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
494000000 usd
CY2021Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
552000000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1178000000 usd
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1405000000 usd
CY2022Q4 us-gaap Assets
Assets
15422000000 usd
CY2021Q4 us-gaap Assets
Assets
16077000000 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
1590000000 usd
CY2021Q4 us-gaap Debt Current
DebtCurrent
778000000 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
594000000 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
585000000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1728000000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1648000000 usd
CY2022Q4 us-gaap Interest And Dividends Payable Current
InterestAndDividendsPayableCurrent
400000000 usd
CY2021Q4 us-gaap Interest And Dividends Payable Current
InterestAndDividendsPayableCurrent
382000000 usd
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
147000000 usd
CY2021Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
77000000 usd
CY2022Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
1000000 usd
CY2021Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
0 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
4460000000 usd
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3470000000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6173000000 usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6909000000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
484000000 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
654000000 usd
CY2022Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
273000000 usd
CY2021Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
365000000 usd
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
943000000 usd
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1053000000 usd
CY2022Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
7873000000 usd
CY2021Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
8981000000 usd
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
550000000.0 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
550000000.0 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
305000000.0 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
312900000 shares
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
6000000 usd
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
6000000 usd
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1501000000 usd
CY2021Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1432000000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
25799000000 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
24325000000 usd
CY2022Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
22377000000 usd
CY2021Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
20636000000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1841000000 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1502000000 usd
CY2022Q4 us-gaap Minority Interest
MinorityInterest
1000000 usd
CY2021Q4 us-gaap Minority Interest
MinorityInterest
1000000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3089000000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3626000000 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
15422000000 usd
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
16077000000 usd
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3030000000 usd
CY2020 us-gaap Profit Loss
ProfitLoss
2109000000 usd
CY2020 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
46000000 usd
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
42000000 usd
CY2020 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
706000000 usd
CY2020 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
4.42
CY2020 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1398000000 usd
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
63000000 usd
CY2020 us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
-4000000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3182000000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
2694000000 usd
CY2021 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
40000000 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
53000000 usd
CY2021 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1000000000 usd
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
4.72
CY2021 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1483000000 usd
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
140000000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3626000000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
3034000000 usd
CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
15000000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
63000000 usd
CY2022 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1750000000 usd
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
5.06
CY2022 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1560000000 usd
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-339000000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3089000000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
3034000000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
2694000000 usd
CY2020 us-gaap Profit Loss
ProfitLoss
2109000000 usd
CY2020 us-gaap Profit Loss
ProfitLoss
2109000000 usd
CY2022 us-gaap Depreciation
Depreciation
276000000 usd
CY2021 us-gaap Depreciation
Depreciation
277000000 usd
CY2020 us-gaap Depreciation
Depreciation
273000000 usd
CY2022 itw Amortizationand Impairmentof Intangible Assets
AmortizationandImpairmentofIntangibleAssets
134000000 usd
CY2021 itw Amortizationand Impairmentof Intangible Assets
AmortizationandImpairmentofIntangibleAssets
133000000 usd
CY2020 itw Amortizationand Impairmentof Intangible Assets
AmortizationandImpairmentofIntangibleAssets
154000000 usd
CY2022 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
150000000 usd
CY2021 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
148000000 usd
CY2020 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
30000000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5000000 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3000000 usd
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
7000000 usd
CY2022 us-gaap Gain Loss On Investments
GainLossOnInvestments
9000000 usd
CY2021 us-gaap Gain Loss On Investments
GainLossOnInvestments
29000000 usd
CY2020 us-gaap Gain Loss On Investments
GainLossOnInvestments
8000000 usd
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1000000 usd
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 usd
CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-2000000 usd
CY2022 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
191000000 usd
CY2021 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
CY2020 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
63000000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
53000000 usd
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
42000000 usd
CY2022 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
5000000 usd
CY2021 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
13000000 usd
CY2020 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
8000000 usd
CY2022 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
461000000 usd
CY2021 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
240000000 usd
CY2020 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-95000000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
455000000 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
450000000 usd
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-43000000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
19000000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
36000000 usd
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-41000000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
35000000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
37000000 usd
CY2020 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
19000000 usd
CY2022 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
119000000 usd
CY2021 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
202000000 usd
CY2020 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
17000000 usd
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-35000000 usd
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
49000000 usd
CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
34000000 usd
CY2022 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
2000000 usd
CY2021 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
1000000 usd
CY2020 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1000000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2348000000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2557000000 usd
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2807000000 usd
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2000000 usd
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
731000000 usd
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
412000000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
296000000 usd
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
236000000 usd
CY2022 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
12000000 usd
CY2021 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
38000000 usd
CY2020 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
14000000 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
15000000 usd
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
8000000 usd
CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
10000000 usd
CY2022 us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
278000000 usd
CY2021 us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
0 usd
CY2020 us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
1000000 usd
CY2022 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1000000 usd
CY2021 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
3000000 usd
CY2020 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
3000000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-110000000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-984000000 usd
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-214000000 usd
CY2022 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1542000000 usd
CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1463000000 usd
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1379000000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
29000000 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
50000000 usd
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
66000000 usd
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1750000000 usd
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000000000 usd
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
706000000 usd
CY2022 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
796000000 usd
CY2021 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
120000000 usd
CY2020 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
0 usd
CY2022 us-gaap Proceeds From Debt Maturing In More Than Three Months
ProceedsFromDebtMaturingInMoreThanThreeMonths
593000000 usd
CY2021 us-gaap Proceeds From Debt Maturing In More Than Three Months
ProceedsFromDebtMaturingInMoreThanThreeMonths
90000000 usd
CY2020 us-gaap Proceeds From Debt Maturing In More Than Three Months
ProceedsFromDebtMaturingInMoreThanThreeMonths
0 usd
CY2022 us-gaap Repayments Of Debt Maturing In More Than Three Months
RepaymentsOfDebtMaturingInMoreThanThreeMonths
1113000000 usd
CY2021 us-gaap Repayments Of Debt Maturing In More Than Three Months
RepaymentsOfDebtMaturingInMoreThanThreeMonths
351000000 usd
CY2020 us-gaap Repayments Of Debt Maturing In More Than Three Months
RepaymentsOfDebtMaturingInMoreThanThreeMonths
4000000 usd
CY2022 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-13000000 usd
CY2021 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-10000000 usd
CY2020 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-26000000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3000000000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2564000000 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2049000000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-57000000 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-46000000 usd
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39000000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-819000000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1037000000 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
583000000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1527000000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2564000000 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1981000000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
708000000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1527000000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2564000000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
199000000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
197000000 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
194000000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
993000000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
731000000 usd
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
591000000 usd
CY2022 itw Numberof Company Divisions
NumberofCompanyDivisions
84 division
CY2022 itw Number Of Countries With Company Operations
NumberOfCountriesWithCompanyOperations
51 country
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
7 segment
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— Certain reclassifications of prior year data have been made to conform to current year reporting.</span>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— The preparation of the Company's financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the notes to financial statements. Actual results could differ from those estimates.</span>
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
427000000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
394000000 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
269000000 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
239000000 usd
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
214000000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
57000000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
50000000 usd
CY2020 us-gaap Advertising Expense
AdvertisingExpense
43000000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
28000000 usd
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
29000000 usd
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
20000000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5000000 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3000000 usd
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
7000000 usd
CY2022Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.22
CY2022 itw Allowance For Doubtful Accounts Receivable Increase Decrease For Acquisitions And Divestitures
AllowanceForDoubtfulAccountsReceivableIncreaseDecreaseForAcquisitionsAndDivestitures
2000000 usd
CY2021 itw Allowance For Doubtful Accounts Receivable Increase Decrease For Acquisitions And Divestitures
AllowanceForDoubtfulAccountsReceivableIncreaseDecreaseForAcquisitionsAndDivestitures
2000000 usd
CY2020 itw Allowance For Doubtful Accounts Receivable Increase Decrease For Acquisitions And Divestitures
AllowanceForDoubtfulAccountsReceivableIncreaseDecreaseForAcquisitionsAndDivestitures
0 usd
CY2022 itw Allowance For Doubtful Accounts Receivable Writeoffs Netof Recoveries
AllowanceForDoubtfulAccountsReceivableWriteoffsNetofRecoveries
8000000 usd
CY2021 itw Allowance For Doubtful Accounts Receivable Writeoffs Netof Recoveries
AllowanceForDoubtfulAccountsReceivableWriteoffsNetofRecoveries
5000000 usd
CY2020 itw Allowance For Doubtful Accounts Receivable Writeoffs Netof Recoveries
AllowanceForDoubtfulAccountsReceivableWriteoffsNetofRecoveries
4000000 usd
CY2022 itw Allowance For Doubtful Accounts Receivable Transfer To From Assets Held For Sale
AllowanceForDoubtfulAccountsReceivableTransferToFromAssetsHeldForSale
0 usd
CY2021 itw Allowance For Doubtful Accounts Receivable Transfer To From Assets Held For Sale
AllowanceForDoubtfulAccountsReceivableTransferToFromAssetsHeldForSale
0 usd
CY2020 itw Allowance For Doubtful Accounts Receivable Transfer To From Assets Held For Sale
AllowanceForDoubtfulAccountsReceivableTransferToFromAssetsHeldForSale
-2000000 usd
CY2022 itw Allowance For Doubtful Accounts Receivable Foreign Currency Translation
AllowanceForDoubtfulAccountsReceivableForeignCurrencyTranslation
-1000000 usd
CY2021 itw Allowance For Doubtful Accounts Receivable Foreign Currency Translation
AllowanceForDoubtfulAccountsReceivableForeignCurrencyTranslation
-1000000 usd
CY2020 itw Allowance For Doubtful Accounts Receivable Foreign Currency Translation
AllowanceForDoubtfulAccountsReceivableForeignCurrencyTranslation
4000000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
26000000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
28000000 usd
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
29000000 usd
CY2021Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.19
CY2022Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
111000000 usd
CY2021Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
118000000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
887000000 usd
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
716000000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
228000000 usd
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
208000000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1050000000 usd
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
888000000 usd
CY2022Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
111000000 usd
CY2021Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
118000000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
2054000000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1694000000 usd
CY2022Q4 us-gaap Land
Land
188000000 usd
CY2021Q4 us-gaap Land
Land
198000000 usd
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
1414000000 usd
CY2021Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
1462000000 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
3891000000 usd
CY2021Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
3898000000 usd
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
259000000 usd
CY2021Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
142000000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5752000000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5700000000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3904000000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3891000000 usd
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
45000000 usd
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
45000000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1848000000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1809000000 usd
CY2022 itw Depreciation Included In Income From Continuing Operations
DepreciationIncludedInIncomeFromContinuingOperations
276000000 usd
CY2021 itw Depreciation Included In Income From Continuing Operations
DepreciationIncludedInIncomeFromContinuingOperations
277000000 usd
CY2020 itw Depreciation Included In Income From Continuing Operations
DepreciationIncludedInIncomeFromContinuingOperations
273000000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
46000000 usd
CY2022 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
41000000 usd
CY2021 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
34000000 usd
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
34000000 usd
CY2022 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
40000000 usd
CY2021 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
34000000 usd
CY2020 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
33000000 usd
CY2022 itw Product Warranty Accrual Increase Decrease From Business Acquisition And Divestitures
ProductWarrantyAccrualIncreaseDecreaseFromBusinessAcquisitionAndDivestitures
-2000000 usd
CY2021 itw Product Warranty Accrual Increase Decrease From Business Acquisition And Divestitures
ProductWarrantyAccrualIncreaseDecreaseFromBusinessAcquisitionAndDivestitures
5000000 usd
CY2020 itw Product Warranty Accrual Increase Decrease From Business Acquisition And Divestitures
ProductWarrantyAccrualIncreaseDecreaseFromBusinessAcquisitionAndDivestitures
0 usd
CY2022 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-1000000 usd
CY2021 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-4000000 usd
CY2020 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
1000000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
42000000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
46000000 usd
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
45000000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14455000000 usd
CY2022 itw Numberof Company Divisions
NumberofCompanyDivisions
84 division
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12574000000 usd
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
7 segment
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15932000000 usd
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2000000 usd
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
731000000 usd
CY2021Q4 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P11Y
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
7 segment
CY2022 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
191000000 usd
CY2021 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
CY2020 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
CY2022 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
-41000000 usd
CY2021 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
-23000000 usd
CY2020 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
-13000000 usd
CY2022 us-gaap Investment Income Interest
InvestmentIncomeInterest
22000000 usd
CY2021 us-gaap Investment Income Interest
InvestmentIncomeInterest
12000000 usd
CY2020 us-gaap Investment Income Interest
InvestmentIncomeInterest
17000000 usd
CY2022 us-gaap Gain Loss On Investments
GainLossOnInvestments
9000000 usd
CY2021 us-gaap Gain Loss On Investments
GainLossOnInvestments
29000000 usd
CY2020 us-gaap Gain Loss On Investments
GainLossOnInvestments
8000000 usd
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-7000000 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-9000000 usd
CY2020 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-5000000 usd
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000000 usd
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4000000 usd
CY2020 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5000000 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
255000000 usd
CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
51000000 usd
CY2020 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
28000000 usd
CY2017Q4 itw Tax Cuts And Jobs Act Income Tax Expense Benefit1
TaxCutsAndJobsActIncomeTaxExpenseBenefit1
676000000 usd
CY2022Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
273000000 usd
CY2021Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
365000000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
478000000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
399000000 usd
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
301000000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-143000000 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-95000000 usd
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-54000000 usd
CY2022 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
335000000 usd
CY2021 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
304000000 usd
CY2020 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
247000000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
387000000 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
302000000 usd
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
276000000 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
13000000 usd
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-57000000 usd
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
15000000 usd
CY2022 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
400000000 usd
CY2021 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
245000000 usd
CY2020 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
291000000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
93000000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
79000000 usd
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
48000000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-20000000 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
4000000 usd
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
9000000 usd
CY2022 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
73000000 usd
CY2021 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
83000000 usd
CY2020 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
57000000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
808000000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
632000000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
595000000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
2128000000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1667000000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1419000000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1714000000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1659000000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1285000000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
3842000000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
3326000000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2704000000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.010
CY2021 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.012
CY2020 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.010
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.034
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.015
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.016
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.021
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.019
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.006
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.003
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0
CY2022 itw Effective Income Tax Rate Reconciliation Dividend Percent
EffectiveIncomeTaxRateReconciliationDividendPercent
0.006
CY2021 itw Effective Income Tax Rate Reconciliation Dividend Percent
EffectiveIncomeTaxRateReconciliationDividendPercent
0.006
CY2020 itw Effective Income Tax Rate Reconciliation Dividend Percent
EffectiveIncomeTaxRateReconciliationDividendPercent
0.016
CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
EffectiveIncomeTaxRateReconciliationFdiiPercent
0.013
CY2021 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
EffectiveIncomeTaxRateReconciliationFdiiPercent
0.013
CY2020 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
EffectiveIncomeTaxRateReconciliationFdiiPercent
0.013
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.003
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.005
CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.010
CY2022 itw Effective Income Tax Rate Reconciliation Audit Resolution Percent
EffectiveIncomeTaxRateReconciliationAuditResolutionPercent
-0.014
CY2021 itw Effective Income Tax Rate Reconciliation Audit Resolution Percent
EffectiveIncomeTaxRateReconciliationAuditResolutionPercent
-0.001
CY2020 itw Effective Income Tax Rate Reconciliation Audit Resolution Percent
EffectiveIncomeTaxRateReconciliationAuditResolutionPercent
-0.001
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.008
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.009
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.004
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.210
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.190
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.220
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.210
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.190
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.220
CY2022Q4 itw Discrete Tax Expense Benefit
DiscreteTaxExpenseBenefit
-32000000 usd
CY2022Q2 itw Discrete Tax Expense Benefit
DiscreteTaxExpenseBenefit
-51000000 usd
CY2021Q3 itw Discrete Tax Expense Benefit
DiscreteTaxExpenseBenefit
-21000000 usd
CY2021Q2 itw Discrete Tax Expense Benefit
DiscreteTaxExpenseBenefit
-112000000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-12000000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-17000000 usd
CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-27000000 usd
CY2022Q4 itw Accrual Foreign Withhold Taxes
AccrualForeignWithholdTaxes
50000000 usd
CY2021Q4 itw Accrual Foreign Withhold Taxes
AccrualForeignWithholdTaxes
48000000 usd
CY2022Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
6000000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
437000000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
505000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
431000000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
534000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
51000000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Inventory Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedInventoryCosts
3000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
39000000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Inventory Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedInventoryCosts
3000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Investments
DeferredTaxAssetsInvestments
23000000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
141000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Investments
DeferredTaxAssetsInvestments
17000000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
146000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
15000000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
106000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
17000000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
103000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
83000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
39000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits
166000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits
170000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
14000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
11000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
441000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
456000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
194000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
236000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
11000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
11000000 usd
CY2022Q4 itw Deferred Tax Liability Tax Deferred Expense Compensationand Benefits Pensions
DeferredTaxLiabilityTaxDeferredExpenseCompensationandBenefitsPensions
25000000 usd
CY2021Q4 itw Deferred Tax Liability Tax Deferred Expense Compensationand Benefits Pensions
DeferredTaxLiabilityTaxDeferredExpenseCompensationandBenefitsPensions
65000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
0 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Unrealized Currency Transaction Gains
DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains
65000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
0 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Unrealized Currency Transaction Gains
DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains
44000000 usd
CY2022Q4 itw Deferred Tax Assets Lease Arrangements
DeferredTaxAssetsLeaseArrangements
47000000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
47000000 usd
CY2021Q4 itw Deferred Tax Assets Lease Arrangements
DeferredTaxAssetsLeaseArrangements
49000000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
49000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
45000000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
30000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
52000000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
42000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1527000000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
922000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1528000000 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
986000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
595000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
644000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
932000000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
922000000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
884000000 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
986000000 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1631000000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
360000000 usd
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
346000000 usd
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
296000000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
9000000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
11000000 usd
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
74000000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
9000000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
23000000 usd
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
39000000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
56000000 usd
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
12000000 usd
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
47000000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 usd
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 usd
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
23000000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
8000000 usd
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
8000000 usd
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesResultingFromForeignCurrencyTranslation
7000000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
314000000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
360000000 usd
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
316900000 shares
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
346000000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
280000000 usd
CY2022 itw Decrease In Unrecognized Tax Benefits Ongoing Audits
DecreaseInUnrecognizedTaxBenefitsOngoingAudits
28000000 usd
CY2022Q4 itw Accrual For Interest And Penalties Related To Income Tax Matters
AccrualForInterestAndPenaltiesRelatedToIncomeTaxMatters
26000000 usd
CY2021Q4 itw Accrual For Interest And Penalties Related To Income Tax Matters
AccrualForInterestAndPenaltiesRelatedToIncomeTaxMatters
40000000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
3034000000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
2694000000 usd
CY2020 us-gaap Profit Loss
ProfitLoss
2109000000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
309600000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
315100000 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
9.80
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.55
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.66
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
309600000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
315100000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
316900000 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1100000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1300000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1400000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
310700000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
316400000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
318300000 shares
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
9.77
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.51
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.63
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
900000 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
400000 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000 shares
CY2020Q4 us-gaap Goodwill
Goodwill
4690000000 usd
CY2021 itw Goodwill Acquired During Period And Written Off Related To Sale Of Business Unit
GoodwillAcquiredDuringPeriodAndWrittenOffRelatedToSaleOfBusinessUnit
371000000 usd
CY2021 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
-96000000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
4965000000 usd
CY2022 itw Goodwill Acquired During Period And Written Off Related To Sale Of Business Unit
GoodwillAcquiredDuringPeriodAndWrittenOffRelatedToSaleOfBusinessUnit
58000000 usd
CY2022 us-gaap Goodwill Transfers
GoodwillTransfers
-37000000 usd
CY2022 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
-122000000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
4864000000 usd
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
240000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3583000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3062000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
521000000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3754000000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3035000000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
719000000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
3830000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3062000000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
768000000 usd
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
4007000000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3035000000 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
972000000 usd
CY2020Q3 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 usd
CY2021Q3 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 usd
CY2022Q3 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
113000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
97000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
76000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
55000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
44000000 usd
CY2022 us-gaap Lease Cost
LeaseCost
122000000 usd
CY2021 us-gaap Lease Cost
LeaseCost
118000000 usd
CY2020 us-gaap Lease Cost
LeaseCost
113000000 usd
CY2022 itw Shortterm Leaseand Variable Lease Cost
ShorttermLeaseandVariableLeaseCost
56000000 usd
CY2021 itw Shortterm Leaseand Variable Lease Cost
ShorttermLeaseandVariableLeaseCost
47000000 usd
CY2020 itw Shortterm Leaseand Variable Lease Cost
ShorttermLeaseandVariableLeaseCost
48000000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
212000000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
222000000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
55000000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
61000000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
131000000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
133000000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
186000000 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
194000000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
66000000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
71000000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
29000000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
198000000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
67000000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
70000000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
74000000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
71000000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y10M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0225
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0198
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
58000000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
48000000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
30000000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
20000000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
13000000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12000000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
186000000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1590000000 usd
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
778000000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6173000000 usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6909000000 usd
CY2022Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
7763000000 usd
CY2021Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
7687000000 usd
CY2022Q4 us-gaap Commercial Paper
CommercialPaper
1053000000 usd
CY2021Q4 us-gaap Commercial Paper
CommercialPaper
210000000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
535000000 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
568000000 usd
CY2022Q4 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
2000000 usd
CY2021Q4 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
0 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1590000000 usd
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
778000000 usd
CY2022Q4 us-gaap Commercial Paper
CommercialPaper
1100000000 usd
CY2021Q4 us-gaap Commercial Paper
CommercialPaper
210000000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
6708000000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
6708000000 usd
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
6228000000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
7477000000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
7477000000 usd
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
8296000000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
535000000 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
568000000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6173000000 usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6909000000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
535000000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1340000000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
996000000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
531000000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
3306000000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
6708000000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
111000000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
88000000 usd
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
85000000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Projected Benefit Obligation
DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsProjectedBenefitObligation
137000000 usd
CY2021Q4 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Projected Benefit Obligation
DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsProjectedBenefitObligation
232000000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Plan Assets
DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets
22000000 usd
CY2021Q4 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Plan Assets
DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets
59000000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
131000000 usd
CY2021Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
223000000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets
22000000 usd
CY2021Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets
59000000 usd
CY2022Q4 itw Defined Benefit Plan Health Care Cost Trend Rates Assumed For Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRatesAssumedForNextFiscalYear
0.0700
CY2021Q4 itw Defined Benefit Plan Health Care Cost Trend Rates Assumed For Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRatesAssumedForNextFiscalYear
0.0700
CY2020Q4 itw Defined Benefit Plan Health Care Cost Trend Rates Assumed For Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRatesAssumedForNextFiscalYear
0.0700
CY2022Q4 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
DefinedBenefitPlanUltimateHealthCareCostTrendRate1
0.0450
CY2021Q4 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
DefinedBenefitPlanUltimateHealthCareCostTrendRate1
0.0450
CY2020Q4 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
DefinedBenefitPlanUltimateHealthCareCostTrendRate1
0.0450
CY2022 us-gaap Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate
DefinedBenefitPlanYearHealthCareCostTrendRateReachesUltimateTrendRate
2031
CY2021 us-gaap Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate
DefinedBenefitPlanYearHealthCareCostTrendRateReachesUltimateTrendRate
2029
CY2020 us-gaap Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate
DefinedBenefitPlanYearHealthCareCostTrendRateReachesUltimateTrendRate
2027
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
300000 shares
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
5.06
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
4.72
CY2020 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
4.42
CY2022 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
4.97
CY2021 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
4.64
CY2020 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
4.35
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
205000000 usd
CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
303000000 usd
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-359000000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-1500000000 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-1300000000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
293000000 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
196000000 usd
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
10000000 shares
CY2022Q4 itw Number Of Shares For Each Vested Rsu Or Prsu Award
NumberOfSharesForEachVestedRsuOrPrsuAward
1 shares
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
63000000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
53000000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
42000000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
7000000 usd
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
6000000 usd
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5000000 usd
CY2022 itw Stock Based Compensation Expense Net Of Tax
StockBasedCompensationExpenseNetOfTax
56000000 usd
CY2021 itw Stock Based Compensation Expense Net Of Tax
StockBasedCompensationExpenseNetOfTax
47000000 usd
CY2020 itw Stock Based Compensation Expense Net Of Tax
StockBasedCompensationExpenseNetOfTax
37000000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
600000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
178.60
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
200000 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
215.36
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
200000 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
146.29
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
600000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
203.48
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3100000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
144.93
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
400000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
217.72
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
300000 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
99.27
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3200000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
158.71
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y10M24D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
196000000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2100000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
137.90
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y8M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
173000000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0104
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0207
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0004
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0138
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0141
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0159
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.210
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.240
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.210
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0220
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0250
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0256
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
45.15
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
40.90
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
35.45
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
38000000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
68000000 usd
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
114000000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
29000000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
50000000 usd
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
66000000 usd
CY2022 itw Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Stock Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsStockOptionsVestedInPeriodFairValue
18000000 usd
CY2021 itw Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Stock Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsStockOptionsVestedInPeriodFairValue
19000000 usd
CY2020 itw Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Stock Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsStockOptionsVestedInPeriodFairValue
16000000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
28000000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
23000000 usd
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
25000000 usd
CY2022Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
92000000 usd
CY2021Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
84000000 usd
CY2022Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
52000000 usd
CY2021Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
71000000 usd
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
10000000 usd
CY2021Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
18000000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
175000000 usd
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
140000000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
329000000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
313000000 usd
CY2022Q4 us-gaap Cash Surrender Value Of Life Insurance
CashSurrenderValueOfLifeInsurance
433000000 usd
CY2021Q4 us-gaap Cash Surrender Value Of Life Insurance
CashSurrenderValueOfLifeInsurance
449000000 usd
CY2022Q4 itw Accrued Pension Asset
AccruedPensionAsset
251000000 usd
CY2021Q4 itw Accrued Pension Asset
AccruedPensionAsset
465000000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
212000000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
222000000 usd
CY2022Q4 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Costs Capitalized
PreproductionCostsRelatedToLongTermSupplyArrangementsCostsCapitalized
159000000 usd
CY2021Q4 us-gaap Preproduction Costs Related To Long Term Supply Arrangements Costs Capitalized
PreproductionCostsRelatedToLongTermSupplyArrangementsCostsCapitalized
154000000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
123000000 usd
CY2021Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
115000000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1178000000 usd
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1405000000 usd
CY2022Q4 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
451000000 usd
CY2021Q4 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
460000000 usd
CY2022Q4 itw Deferred Revenue And Customer Deposit Current
DeferredRevenueAndCustomerDepositCurrent
427000000 usd
CY2021Q4 itw Deferred Revenue And Customer Deposit Current
DeferredRevenueAndCustomerDepositCurrent
394000000 usd
CY2022Q4 itw Rebate Accrual Current
RebateAccrualCurrent
225000000 usd
CY2021Q4 itw Rebate Accrual Current
RebateAccrualCurrent
209000000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
55000000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
61000000 usd
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
42000000 usd
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
46000000 usd
CY2022Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
15000000 usd
CY2021Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
14000000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
513000000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
464000000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1728000000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1648000000 usd
CY2022Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
173000000 usd
CY2021Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
235000000 usd
CY2022Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
133000000 usd
CY2021Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
148000000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
131000000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
133000000 usd
CY2022Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
506000000 usd
CY2021Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
537000000 usd
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
943000000 usd
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1053000000 usd
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
7 segment
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
7 segment
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15932000000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14455000000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15932000000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14455000000 usd
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12574000000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
3790000000 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
3477000000 usd
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
2882000000 usd
CY2022 itw Depreciation And Amortization And Impairment Of Goodwill And Intangible Assets
DepreciationAndAmortizationAndImpairmentOfGoodwillAndIntangibleAssets
410000000 usd
CY2021 itw Depreciation And Amortization And Impairment Of Goodwill And Intangible Assets
DepreciationAndAmortizationAndImpairmentOfGoodwillAndIntangibleAssets
410000000 usd
CY2020 itw Depreciation And Amortization And Impairment Of Goodwill And Intangible Assets
DepreciationAndAmortizationAndImpairmentOfGoodwillAndIntangibleAssets
427000000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
412000000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
296000000 usd
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
236000000 usd
CY2022Q4 us-gaap Assets
Assets
15422000000 usd
CY2021Q4 us-gaap Assets
Assets
16077000000 usd
CY2020Q4 us-gaap Assets
Assets
15612000000 usd
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12574000000 usd
CY2022 dei Auditor Firm
AuditorFirmId
34

Files In Submission

Name View Source Status
itw-20221231_cal.xml Edgar Link unprocessable
0000049826-23-000008-index-headers.html Edgar Link pending
0000049826-23-000008-index.html Edgar Link pending
0000049826-23-000008.txt Edgar Link pending
0000049826-23-000008-xbrl.zip Edgar Link pending
a20221231-ex21.htm Edgar Link pending
a20221231-ex23.htm Edgar Link pending
a20221231-ex24.htm Edgar Link pending
a20221231-ex31.htm Edgar Link pending
a20221231-ex32.htm Edgar Link pending
amendedandrestateddirector.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
itw-20221231.htm Edgar Link pending
itw-20221231.xsd Edgar Link pending
itw-20221231_g1.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
itw-20221231_def.xml Edgar Link unprocessable
itw-20221231_lab.xml Edgar Link unprocessable
itw-20221231_pre.xml Edgar Link unprocessable
itw-20221231_htm.xml Edgar Link completed
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R78.htm Edgar Link pending
R79.htm Edgar Link pending
R8.htm Edgar Link pending
R80.htm Edgar Link pending
R81.htm Edgar Link pending
R82.htm Edgar Link pending
R83.htm Edgar Link pending
R84.htm Edgar Link pending
R85.htm Edgar Link pending
R86.htm Edgar Link pending
R87.htm Edgar Link pending
R88.htm Edgar Link pending
R89.htm Edgar Link pending
R9.htm Edgar Link pending
R90.htm Edgar Link pending
R91.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending