$ITW
ILLINOIS TOOL WORKS INC Stock $itw

$itw Overview Financials Valuation SEC Filings Company Website

2024 Q1 Form 10-K Financial Statement

#000004982624000008 Filed on February 09, 2024

Income Statement

Concept	2024 Q1	2023 Q4	2023
Revenue	$3.973B	$3.983B	$16.11B
YoY Change	-1.14%	0.3%	1.1%
Cost Of Revenue	$2.145B	$2.312B	$9.316B
YoY Change	-8.37%	0.13%	-1.2%
Gross Profit	$1.828B	$1.671B	$6.791B
YoY Change	8.94%	0.54%	4.43%
Gross Profit Margin	46.01%	41.95%	42.16%
Selling, General & Admin	$676.0M	$658.0M	$2.638B
YoY Change	0.15%	2.17%	2.29%
% of Gross Profit	36.98%	39.38%	38.85%
Research & Development			$284.0M
YoY Change			5.58%
% of Gross Profit			4.18%
Depreciation & Amortization	$25.00M	$25.00M	$113.0M
YoY Change	-63.24%	-21.88%	-15.67%
% of Gross Profit	1.37%	1.5%	1.66%
Operating Expenses	$701.0M	$683.0M	$2.751B
YoY Change	-0.71%	1.04%	1.4%
Operating Profit	$1.127B	$988.0M	$4.040B
YoY Change	15.95%	0.2%	6.6%
Interest Expense	-$71.00M	-$70.00M	-$266.0M
YoY Change	-218.33%	25.0%	31.03%
% of Operating Profit	-6.3%	-7.09%	-6.58%
Other Income/Expense, Net	$16.00M	$9.000M	$49.00M
YoY Change	60.0%	-95.29%	-80.78%
Pretax Income	$1.072B	$927.0M	$3.823B
YoY Change	16.27%	-17.31%	-0.49%
Income Tax	$253.0M	$210.0M	$866.0M
% Of Pretax Income	23.6%	22.65%	22.65%
Net Earnings	$819.0M	$717.0M	$2.957B
YoY Change	14.71%	-20.95%	-2.54%
Net Earnings / Revenue	20.61%	18.0%	18.36%
Basic Earnings Per Share	$2.74		$9.77
Diluted Earnings Per Share	$2.73	$2.38	$9.74
COMMON SHARES
Basic Shares Outstanding	298.8M shares		302.6M shares
Diluted Shares Outstanding	300.0M shares		303.6M shares

Balance Sheet

Concept	2024 Q1	2023 Q4	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments	$959.0M	$1.065B	$1.065B
YoY Change	-16.1%	50.42%	50.42%
Cash & Equivalents	$959.0M	$1.065B	$1.065B
Short-Term Investments
Other Short-Term Assets	$349.0M	$340.0M	$340.0M
YoY Change	1.45%	0.89%	0.89%
Inventory	$1.825B	$1.707B	$1.707B
Prepaid Expenses
Receivables	$3.238B	$3.123B	$3.123B
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$6.371B	$6.235B	$6.235B
YoY Change	-4.74%	-0.56%	-0.56%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.973B	$1.976B	$1.976B
YoY Change	4.67%	6.93%	6.93%
Goodwill	$4.904B	$4.909B
YoY Change	0.41%	0.93%
Intangibles	$653.0M	$657.0M
YoY Change	-11.52%	-14.45%
Long-Term Investments
YoY Change
Other Assets	$1.752B	$1.741B	$1.741B
YoY Change	43.25%	4.13%	4.13%
Total Long-Term Assets	$9.282B	$9.283B	$9.283B
YoY Change	0.53%	1.43%	1.43%
TOTAL ASSETS
Total Short-Term Assets	$6.371B	$6.235B	$6.235B
Total Long-Term Assets	$9.282B	$9.283B	$9.283B
Total Assets	$15.65B	$15.52B	$15.52B
YoY Change	-1.68%	0.62%	0.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$597.0M	$581.0M	$581.0M
YoY Change	-0.33%	-2.19%	-2.19%
Accrued Expenses	$1.512B	$1.663B	$1.663B
YoY Change	0.53%	-3.76%	-3.76%
Deferred Revenue
YoY Change
Short-Term Debt	$1.400B	$1.825B	$464.0M
YoY Change	-12.5%	14.78%	-55.94%
Long-Term Debt Due	$2.066B	$1.825B	$1.825B
YoY Change	-28.01%	14.78%	14.78%
Total Short-Term Liabilities	$4.844B	$4.675B	$4.675B
YoY Change	-13.44%	4.82%	4.82%
LONG-TERM LIABILITIES
Long-Term Debt	$6.259B	$6.339B	$6.339B
YoY Change	13.59%	2.69%	2.69%
Other Long-Term Liabilities	$1.149B	$1.165B	$1.165B
YoY Change	19.19%	-4.19%	-4.19%
Total Long-Term Liabilities	$7.408B	$7.504B	$7.504B
YoY Change	2.55%	1.56%	1.56%
TOTAL LIABILITIES
Total Short-Term Liabilities	$4.844B	$4.675B	$4.675B
Total Long-Term Liabilities	$7.408B	$7.504B	$7.504B
Total Liabilities	$12.63B	$12.51B	$12.51B
YoY Change	-1.46%	1.39%	1.39%
SHAREHOLDERS EQUITY
Retained Earnings	$27.52B	$27.12B
YoY Change	5.39%	5.13%
Common Stock	$1.624B	$1.594B
YoY Change	6.01%	5.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$3.020B	$3.012B	$3.012B
YoY Change
Total Liabilities & Shareholders Equity	$15.65B	$15.52B	$15.52B
YoY Change	-1.68%	0.62%	0.62%

Cashflow Statement

Concept	2024 Q1	2023 Q4	2023
OPERATING ACTIVITIES
Net Income	$819.0M	$717.0M	$2.957B
YoY Change	14.71%	-20.95%	-2.54%
Depreciation, Depletion And Amortization	$25.00M	$25.00M	$113.0M
YoY Change	-63.24%	-21.88%	-15.67%
Cash From Operating Activities	$589.0M	$1.039B	$3.539B
YoY Change	-19.09%	28.11%	50.72%
INVESTING ACTIVITIES
Capital Expenditures	$95.00M	$131.0M	$455.0M
YoY Change	-15.93%	-16.03%	10.44%
Acquisitions	$57.00M		$0.00
YoY Change			-100.0%
Other Investing Activities	$8.000M	$11.00M	$2.000M
YoY Change		-96.11%	100.0%
Cash From Investing Activities	-$152.0M	-$120.0M	-$403.0M
YoY Change	36.94%	-194.49%	266.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$524.0M	-877.0M	-$2.782B
YoY Change	183.24%	-15.27%	-7.27%
NET CHANGE
Cash From Operating Activities	$589.0M	1.039B	$3.539B
Cash From Investing Activities	-$152.0M	-120.0M	-$403.0M
Cash From Financing Activities	-$524.0M	-877.0M	-$2.782B
Net Change In Cash	-$106.0M	42.00M	$357.0M
YoY Change	-124.37%	-143.3%	-143.59%
FREE CASH FLOW
Cash From Operating Activities	$589.0M	$1.039B	$3.539B
Capital Expenditures	$95.00M	$131.0M	$455.0M
Free Cash Flow	$494.0M	$908.0M	$3.084B
YoY Change	-19.67%	38.63%	59.3%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023	us-gaap	Interest Expense InterestExpense	266000000	usd
CY2023	us-gaap	Other Nonoperating Income OtherNonoperatingIncome	49000000	usd
CY2022	us-gaap	Other Nonoperating Income OtherNonoperatingIncome	255000000	usd
CY2023	us-gaap	Income Loss Including Portion Attributable To Noncontrolling Interest IncomeLossIncludingPortionAttributableToNoncontrollingInterest	3823000000	usd
CY2022	us-gaap	Income Loss Including Portion Attributable To Noncontrolling Interest IncomeLossIncludingPortionAttributableToNoncontrollingInterest	3842000000	usd
CY2021	us-gaap	Income Loss Including Portion Attributable To Noncontrolling Interest IncomeLossIncludingPortionAttributableToNoncontrollingInterest	3326000000	usd
CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	866000000	usd
CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	808000000	usd
CY2021	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	632000000	usd
CY2022	us-gaap	Profit Loss ProfitLoss	3034000000	usd
CY2021	us-gaap	Profit Loss ProfitLoss	2694000000	usd
CY2021	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	8.55
CY2023	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	5.42
CY2023	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	1634000000	usd
CY2023	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	7000000	usd
CY2023Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3013000000	usd
CY2023	dei	Entity Central Index Key EntityCentralIndexKey	0000049826
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent
CY2023Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent
CY2022Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent
CY2023Q4	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent
CY2022Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent
CY2023Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent
CY2023Q4	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent
CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023	dei	Document Period End Date DocumentPeriodEndDate	2023-12-31
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023	dei	Document Transition Report DocumentTransitionReport	false
CY2023	dei	Entity File Number EntityFileNumber	1-4797
CY2023	dei	Entity Registrant Name EntityRegistrantName	ILLINOIS TOOL WORKS INC
CY2023	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	36-1258310
CY2023	dei	Entity Address Address Line1 EntityAddressAddressLine1	155 Harlem Avenue
CY2023	dei	Entity Address City Or Town EntityAddressCityOrTown	Glenview
CY2023	dei	Entity Address State Or Province EntityAddressStateOrProvince	IL
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	60025
CY2023	dei	City Area Code CityAreaCode	847
CY2023	dei	Local Phone Number LocalPhoneNumber	724-7500
CY2023	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	Yes
CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2023	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2023	dei	Entity Small Business EntitySmallBusiness	false
CY2023	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2023	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	true
CY2023	dei	Document Fin Stmt Error Correction Flag DocumentFinStmtErrorCorrectionFlag	false
CY2023	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Public Float EntityPublicFloat	75100000000	usd
CY2023	dei	Auditor Name AuditorName	Deloitte & Touche LLP
CY2023	dei	Auditor Location AuditorLocation	Chicago, Illinois
CY2021	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	14455000000	usd
CY2023	itw	Amortizationand Impairmentof Intangible Assets AmortizationandImpairmentofIntangibleAssets	113000000	usd
CY2023	us-gaap	Operating Income Loss OperatingIncomeLoss	4040000000	usd
CY2022	us-gaap	Operating Income Loss OperatingIncomeLoss	3790000000	usd
CY2022	us-gaap	Interest Expense InterestExpense	203000000	usd
CY2021	us-gaap	Interest Expense InterestExpense	202000000	usd
CY2021	us-gaap	Other Nonoperating Income OtherNonoperatingIncome	51000000	usd
CY2023	us-gaap	Profit Loss ProfitLoss	2957000000	usd
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	9.77
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	9.80
CY2023	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	9.74
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	9.77
CY2021	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	8.51
CY2021	us-gaap	Profit Loss ProfitLoss	2694000000	usd
CY2023	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	41000000	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
CY2023	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	34000000	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
CY2023	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	7000000	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
CY2023	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	2964000000	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
CY2023Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1065000000	usd
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	708000000	usd
CY2023Q4	us-gaap	Receivables Net Current ReceivablesNetCurrent	3123000000	usd
CY2022Q4	us-gaap	Receivables Net Current ReceivablesNetCurrent	3171000000	usd
CY2023Q4	us-gaap	Inventory Net InventoryNet	1707000000	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	2054000000	usd
CY2023Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	340000000	usd
CY2022Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	329000000	usd
CY2023Q4	us-gaap	Assets Of Disposal Group Including Discontinued Operation Current AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent	0	usd
CY2022Q4	us-gaap	Assets Of Disposal Group Including Discontinued Operation Current AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent	8000000	usd
CY2023Q4	us-gaap	Assets Current AssetsCurrent	6235000000	usd
CY2022Q4	us-gaap	Assets Current AssetsCurrent	6270000000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1976000000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1848000000	usd
CY2023Q4	us-gaap	Goodwill Goodwill	4909000000	usd
CY2022Q4	us-gaap	Goodwill Goodwill	4864000000	usd
CY2023Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	657000000	usd
CY2022Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	768000000	usd
CY2023Q4	us-gaap	Deferred Income Tax Assets Net DeferredIncomeTaxAssetsNet	479000000	usd
CY2022Q4	us-gaap	Deferred Income Tax Assets Net DeferredIncomeTaxAssetsNet	494000000	usd
CY2023Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	1262000000	usd
CY2022Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	1178000000	usd
CY2023Q4	us-gaap	Assets Assets	15518000000	usd
CY2022Q4	us-gaap	Assets Assets	15422000000	usd
CY2023Q4	us-gaap	Debt Current DebtCurrent	1825000000	usd
CY2022Q4	us-gaap	Debt Current DebtCurrent	1590000000	usd
CY2023Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	581000000	usd
CY2022Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	594000000	usd
CY2023Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1663000000	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1728000000	usd
CY2023Q4	us-gaap	Interest And Dividends Payable Current InterestAndDividendsPayableCurrent	419000000	usd
CY2022Q4	us-gaap	Interest And Dividends Payable Current InterestAndDividendsPayableCurrent	400000000	usd
CY2023Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	187000000	usd
CY2022Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	147000000	usd
CY2023Q4	us-gaap	Liabilities Of Disposal Group Including Discontinued Operation Current LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent	0	usd
CY2022Q4	us-gaap	Liabilities Of Disposal Group Including Discontinued Operation Current LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent	1000000	usd
CY2023Q4	us-gaap	Liabilities Current LiabilitiesCurrent	4675000000	usd
CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	4460000000	usd
CY2023Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6339000000	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6173000000	usd
CY2023Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	326000000	usd
CY2022Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	484000000	usd
CY2023Q4	us-gaap	Accrued Income Taxes Noncurrent AccruedIncomeTaxesNoncurrent	151000000	usd
CY2022Q4	us-gaap	Accrued Income Taxes Noncurrent AccruedIncomeTaxesNoncurrent	273000000	usd
CY2023Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1014000000	usd
CY2022Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	943000000	usd
CY2023Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	7830000000	usd
CY2022Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	7873000000	usd
CY2023Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	700000000.0	shares
CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	700000000.0	shares
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	550000000.0	shares
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	550000000.0	shares
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	299300000	shares
CY2022Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	305000000.0	shares
CY2023Q4	us-gaap	Common Stock Value CommonStockValue	6000000	usd
CY2022Q4	us-gaap	Common Stock Value CommonStockValue	6000000	usd
CY2023Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	1588000000	usd
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CY2023Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	27122000000	usd
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	25799000000	usd
CY2023Q4	us-gaap	Treasury Stock Common Value TreasuryStockCommonValue	23870000000	usd
CY2022Q4	us-gaap	Treasury Stock Common Value TreasuryStockCommonValue	22377000000	usd
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CY2022Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-1841000000	usd
CY2023Q4	us-gaap	Minority Interest MinorityInterest	1000000	usd
CY2022Q4	us-gaap	Minority Interest MinorityInterest	1000000	usd
CY2023Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3013000000	usd
CY2022Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	3089000000	usd
CY2023Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	15518000000	usd
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	15422000000	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
CY2023	us-gaap	Profit Loss ProfitLoss	2957000000	usd
CY2023	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	38000000	usd
CY2023	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	69000000	usd
CY2023	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	1500000000	usd
CY2023	itw	Treasury Stock Value Acquired Cost Method Excise Tax TreasuryStockValueAcquiredCostMethodExciseTax	13000000	usd
CY2023	us-gaap	Profit Loss ProfitLoss	2957000000	usd
CY2022	us-gaap	Profit Loss ProfitLoss	3034000000	usd
CY2021	us-gaap	Profit Loss ProfitLoss	2694000000	usd
CY2023	us-gaap	Depreciation Depreciation	282000000	usd
CY2022	us-gaap	Depreciation Depreciation	276000000	usd
CY2021	us-gaap	Depreciation Depreciation	277000000	usd
CY2023	itw	Amortizationand Impairmentof Intangible Assets AmortizationandImpairmentofIntangibleAssets	113000000	usd
CY2022	itw	Amortizationand Impairmentof Intangible Assets AmortizationandImpairmentofIntangibleAssets	134000000	usd
CY2021	itw	Amortizationand Impairmentof Intangible Assets AmortizationandImpairmentofIntangibleAssets	133000000	usd
CY2023	us-gaap	Increase Decrease In Deferred Income Taxes IncreaseDecreaseInDeferredIncomeTaxes	88000000	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
CY2023	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	6000000	usd
CY2022	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	5000000	usd
CY2021	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	3000000	usd
CY2023	us-gaap	Gain Loss On Investments GainLossOnInvestments	2000000	usd
CY2022	us-gaap	Gain Loss On Investments GainLossOnInvestments	9000000	usd
CY2021	us-gaap	Gain Loss On Investments GainLossOnInvestments	29000000	usd
CY2023	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	1000000	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
CY2023	us-gaap	Disposal Group Not Discontinued Operation Gain Loss On Disposal DisposalGroupNotDiscontinuedOperationGainLossOnDisposal	1000000	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
CY2023	us-gaap	Share Based Compensation ShareBasedCompensation	69000000	usd
CY2022	us-gaap	Share Based Compensation ShareBasedCompensation	63000000	usd
CY2021	us-gaap	Share Based Compensation ShareBasedCompensation	53000000	usd
CY2023	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	-4000000	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
CY2023	us-gaap	Increase Decrease In Receivables IncreaseDecreaseInReceivables	-64000000	usd
CY2022	us-gaap	Increase Decrease In Receivables IncreaseDecreaseInReceivables	461000000	usd
CY2021	us-gaap	Increase Decrease In Receivables IncreaseDecreaseInReceivables	240000000	usd
CY2023	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-360000000	usd
CY2022	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	455000000	usd
CY2021	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	450000000	usd
CY2023	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	26000000	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
CY2023	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	-14000000	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
CY2023	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	-102000000	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
CY2023	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	-72000000	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
CY2023	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	2000000	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
CY2023	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	3539000000	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
CY2023	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	0	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
CY2023	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	455000000	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
CY2023	us-gaap	Proceeds From Sale Maturity And Collections Of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments	27000000	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
CY2023	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	20000000	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
CY2023	us-gaap	Proceeds From Divestiture Of Businesses And Interests In Affiliates ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates	7000000	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
CY2023	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	2000000	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
CY2023	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-403000000	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
CY2023	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	1615000000	usd
CY2022	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	1542000000	usd
CY2021	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	1463000000	usd
CY2023	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	53000000	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
CY2023	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	1500000000	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
CY2023	us-gaap	Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess	-452000000	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
CY2023	us-gaap	Proceeds From Debt Maturing In More Than Three Months ProceedsFromDebtMaturingInMoreThanThreeMonths	1425000000	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
CY2023	us-gaap	Repayments Of Debt Maturing In More Than Three Months RepaymentsOfDebtMaturingInMoreThanThreeMonths	679000000	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
CY2023	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-14000000	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
CY2023	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-2782000000	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
CY2023	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3000000	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
CY2023	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	357000000	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
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
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1065000000	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
CY2023	us-gaap	Interest Paid Net InterestPaidNet	260000000	usd
CY2022	us-gaap	Interest Paid Net InterestPaidNet	199000000	usd
CY2021	us-gaap	Interest Paid Net InterestPaidNet	197000000	usd
CY2023	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	1026000000	usd
CY2022	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	993000000	usd
CY2021	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	731000000	usd
CY2023	itw	Numberof Company Divisions NumberofCompanyDivisions	84	division
CY2023	itw	Number Of Countries With Company Operations NumberOfCountriesWithCompanyOperations	51	country
CY2023	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	7	segment
CY2023	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div><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></div>
CY2023	us-gaap	Use Of Estimates UseOfEstimates	<div><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></div>
CY2023Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	395000000	usd
CY2022Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	427000000	usd
CY2023	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	284000000	usd
CY2022	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	269000000	usd
CY2021	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	239000000	usd
CY2023	us-gaap	Advertising Expense AdvertisingExpense	60000000	usd
CY2022	us-gaap	Advertising Expense AdvertisingExpense	57000000	usd
CY2021	us-gaap	Advertising Expense AdvertisingExpense	50000000	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
CY2023	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	6000000	usd
CY2022	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	5000000	usd
CY2021	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	3000000	usd
CY2023	itw	Allowance For Doubtful Accounts Receivable Increase Decrease For Acquisitions And Divestitures AllowanceForDoubtfulAccountsReceivableIncreaseDecreaseForAcquisitionsAndDivestitures	0	usd
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
CY2023	itw	Allowance For Doubtful Accounts Receivable Writeoffs Netof Recoveries AllowanceForDoubtfulAccountsReceivableWriteoffsNetofRecoveries	3000000	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
CY2023	itw	Allowance For Doubtful Accounts Receivable Foreign Currency Translation AllowanceForDoubtfulAccountsReceivableForeignCurrencyTranslation	0	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
CY2023Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	29000000	usd
CY2022Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	26000000	usd
CY2021Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	28000000	usd
CY2023Q4	us-gaap	Percentage Of Lifo Inventory PercentageOfLIFOInventory	0.23
CY2022Q4	us-gaap	Percentage Of Lifo Inventory PercentageOfLIFOInventory	0.22
CY2023Q4	us-gaap	Inventory Lifo Reserve InventoryLIFOReserve	117000000	usd
CY2022Q4	us-gaap	Inventory Lifo Reserve InventoryLIFOReserve	111000000	usd
CY2023Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	742000000	usd
CY2022Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	887000000	usd
CY2023Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	234000000	usd
CY2022Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	228000000	usd
CY2023Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	848000000	usd
CY2022Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	1050000000	usd
CY2023Q4	us-gaap	Inventory Lifo Reserve InventoryLIFOReserve	117000000	usd
CY2022Q4	us-gaap	Inventory Lifo Reserve InventoryLIFOReserve	111000000	usd
CY2023Q4	us-gaap	Inventory Net InventoryNet	1707000000	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	2054000000	usd
CY2023Q4	us-gaap	Land Land	197000000	usd
CY2022Q4	us-gaap	Land Land	188000000	usd
CY2023Q4	us-gaap	Buildings And Improvements Gross BuildingsAndImprovementsGross	1490000000	usd
CY2022Q4	us-gaap	Buildings And Improvements Gross BuildingsAndImprovementsGross	1414000000	usd
CY2023Q4	us-gaap	Machinery And Equipment Gross MachineryAndEquipmentGross	4070000000	usd
CY2022Q4	us-gaap	Machinery And Equipment Gross MachineryAndEquipmentGross	3891000000	usd
CY2023Q4	us-gaap	Construction In Progress Gross ConstructionInProgressGross	294000000	usd
CY2022Q4	us-gaap	Construction In Progress Gross ConstructionInProgressGross	259000000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	6051000000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	5752000000	usd
CY2023Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	4075000000	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	3904000000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1976000000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1848000000	usd
CY2023	itw	Depreciation Included In Income From Continuing Operations DepreciationIncludedInIncomeFromContinuingOperations	282000000	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
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
CY2023	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	51000000	usd
CY2022	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	41000000	usd
CY2021	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	34000000	usd
CY2023	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	56000000	usd
CY2022	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	40000000	usd
CY2021	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	34000000	usd
CY2023	itw	Product Warranty Accrual Increase Decrease From Business Acquisition And Divestitures ProductWarrantyAccrualIncreaseDecreaseFromBusinessAcquisitionAndDivestitures	0	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
CY2023	us-gaap	Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss	1000000	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
CY2023Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	48000000	usd
CY2022Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	42000000	usd
CY2021Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	46000000	usd
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CY2021	us-gaap	Gain Loss On Investments GainLossOnInvestments	29000000	usd
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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
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CY2021Q4	us-gaap	Acquired Finite Lived Intangible Assets Weighted Average Useful Life AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife	P11Y
CY2023	itw	Numberof Company Divisions NumberofCompanyDivisions	84	division
CY2023	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	7	segment
CY2023	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	16107000000	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
CY2023	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	7	segment
CY2023	us-gaap	Investment Income Interest InvestmentIncomeInterest	51000000	usd
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CY2021	us-gaap	Investment Income Interest InvestmentIncomeInterest	12000000	usd
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CY2023	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-39000000	usd
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CY2021	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	51000000	usd
CY2017Q4	itw	Tax Cuts And Jobs Act Income Tax Expense Benefit1 TaxCutsAndJobsActIncomeTaxExpenseBenefit1	676000000	usd
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CY2022Q4	us-gaap	Accrued Income Taxes Noncurrent AccruedIncomeTaxesNoncurrent	273000000	usd
CY2023	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	455000000	usd
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CY2022	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	-143000000	usd
CY2021	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	-95000000	usd
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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
CY2023	us-gaap	Current Foreign Tax Expense Benefit CurrentForeignTaxExpenseBenefit	405000000	usd
CY2022	us-gaap	Current Foreign Tax Expense Benefit CurrentForeignTaxExpenseBenefit	387000000	usd
CY2021	us-gaap	Current Foreign Tax Expense Benefit CurrentForeignTaxExpenseBenefit	302000000	usd
CY2023	us-gaap	Deferred Foreign Income Tax Expense Benefit DeferredForeignIncomeTaxExpenseBenefit	31000000	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
CY2023	us-gaap	Foreign Income Tax Expense Benefit Continuing Operations ForeignIncomeTaxExpenseBenefitContinuingOperations	436000000	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
CY2023	us-gaap	Current State And Local Tax Expense Benefit CurrentStateAndLocalTaxExpenseBenefit	94000000	usd
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CY2021	us-gaap	Deferred State And Local Income Tax Expense Benefit DeferredStateAndLocalIncomeTaxExpenseBenefit	4000000	usd
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CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	866000000	usd
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CY2021	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	632000000	usd
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CY2022	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	2128000000	usd
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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
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CY2023	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210
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
CY2023	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.019
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
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential	0.011
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
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings	0.008
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
CY2023	itw	Effective Income Tax Rate Reconciliation Dividend Percent EffectiveIncomeTaxRateReconciliationDividendPercent	0.001
CY2022	itw	Effective Income Tax Rate Reconciliation Dividend Percent EffectiveIncomeTaxRateReconciliationDividendPercent	0.006
CY2021	itw	Effective Income Tax Rate Reconciliation Dividend Percent EffectiveIncomeTaxRateReconciliationDividendPercent	0.006
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate	0
CY2022	us-gaap	Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate	0
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CY2022	itw	Effective Income Tax Rate Reconciliation Audit Resolution Percent EffectiveIncomeTaxRateReconciliationAuditResolutionPercent	-0.014
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CY2023	us-gaap	Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent	-0.005
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
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Fdii Percent EffectiveIncomeTaxRateReconciliationFdiiPercent	0.014
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
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	-0.002
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
CY2023	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.226
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CY2022	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.210
CY2021	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.190
CY2023Q2	itw	Discrete Tax Expense Benefit DiscreteTaxExpenseBenefit	-20000000	usd
CY2022Q4	itw	Discrete Tax Expense Benefit DiscreteTaxExpenseBenefit	-32000000	usd
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CY2022Q4	us-gaap	Deferred Tax Assets Tax Credit Carryforwards Foreign DeferredTaxAssetsTaxCreditCarryforwardsForeign	14000000	usd
CY2023Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	463000000	usd
CY2022Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	441000000	usd
CY2023Q4	us-gaap	Deferred Tax Assets Capital Loss Carryforwards DeferredTaxAssetsCapitalLossCarryforwards	194000000	usd
CY2022Q4	us-gaap	Deferred Tax Assets Capital Loss Carryforwards DeferredTaxAssetsCapitalLossCarryforwards	194000000	usd
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CY2023Q4	us-gaap	Deferred Tax Assets In Process Research And Development DeferredTaxAssetsInProcessResearchAndDevelopment	88000000	usd
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CY2023Q4	us-gaap	Deferred Tax Assets Unrealized Currency Losses DeferredTaxAssetsUnrealizedCurrencyLosses	0	usd
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CY2022Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	314000000	usd
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CY2023	us-gaap	Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions	33000000	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
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CY2021	us-gaap	Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities	0	usd
CY2023	us-gaap	Unrecognized Tax Benefits Increases Resulting From Foreign Currency Translation UnrecognizedTaxBenefitsIncreasesResultingFromForeignCurrencyTranslation	2000000	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
CY2023Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	329000000	usd
CY2022Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	314000000	usd
CY2021Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	360000000	usd
CY2023Q4	us-gaap	Unrecognized Tax Benefits That Would Impact Effective Tax Rate UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate	295000000	usd
CY2023	itw	Decrease In Unrecognized Tax Benefits Ongoing Audits DecreaseInUnrecognizedTaxBenefitsOngoingAudits	8000000	usd
CY2023Q4	itw	Accrual For Interest And Penalties Related To Income Tax Matters AccrualForInterestAndPenaltiesRelatedToIncomeTaxMatters	34000000	usd
CY2022Q4	itw	Accrual For Interest And Penalties Related To Income Tax Matters AccrualForInterestAndPenaltiesRelatedToIncomeTaxMatters	26000000	usd
CY2023	us-gaap	Profit Loss ProfitLoss	2957000000	usd
CY2022	us-gaap	Profit Loss ProfitLoss	3034000000	usd
CY2021	us-gaap	Profit Loss ProfitLoss	2694000000	usd
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	302600000	shares
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
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	9.77
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	9.80
CY2021	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	8.55
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	302600000	shares
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
CY2023	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	1000000.0	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
CY2023	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	303600000	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
CY2023	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	9.74
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	9.77
CY2021	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	8.51
CY2023	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	300000	shares
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
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
CY2023	us-gaap	Goodwill Translation And Purchase Accounting Adjustments GoodwillTranslationAndPurchaseAccountingAdjustments	45000000	usd
CY2023Q4	us-gaap	Goodwill Goodwill	4909000000	usd
CY2023Q4	us-gaap	Goodwill Impaired Accumulated Impairment Loss GoodwillImpairedAccumulatedImpairmentLoss	240000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	3585000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	3175000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	410000000	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
CY2023Q4	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	3832000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	3175000000	usd
CY2023Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	657000000	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
CY2022Q3	us-gaap	Goodwill And Intangible Asset Impairment GoodwillAndIntangibleAssetImpairment	0	usd
CY2021Q3	us-gaap	Goodwill And Intangible Asset Impairment GoodwillAndIntangibleAssetImpairment	0	usd
CY2023Q3	us-gaap	Goodwill And Intangible Asset Impairment GoodwillAndIntangibleAssetImpairment	0	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	96000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	75000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	54000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	43000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	33000000	usd
CY2023	us-gaap	Lease Cost LeaseCost	132000000	usd
CY2022	us-gaap	Lease Cost LeaseCost	122000000	usd
CY2021	us-gaap	Lease Cost LeaseCost	118000000	usd
CY2023	itw	Shortterm Leaseand Variable Lease Cost ShorttermLeaseandVariableLeaseCost	60000000	usd
CY2022	itw	Shortterm Leaseand Variable Lease Cost ShorttermLeaseandVariableLeaseCost	56000000	usd
CY2021	itw	Shortterm Leaseand Variable Lease Cost ShorttermLeaseandVariableLeaseCost	47000000	usd
CY2023	us-gaap	Operating Lease Cost OperatingLeaseCost	72000000	usd
CY2022	us-gaap	Operating Lease Cost OperatingLeaseCost	66000000	usd
CY2021	us-gaap	Operating Lease Cost OperatingLeaseCost	71000000	usd
CY2023	us-gaap	Operating Lease Payments OperatingLeasePayments	70000000	usd
CY2022	us-gaap	Operating Lease Payments OperatingLeasePayments	67000000	usd
CY2021	us-gaap	Operating Lease Payments OperatingLeasePayments	70000000	usd
CY2023	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	82000000	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
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	248000000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	212000000	usd
CY2023Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	58000000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	55000000	usd
CY2023Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	148000000	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	131000000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	206000000	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	186000000	usd
CY2023Q4	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P5Y
CY2022Q4	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P4Y10M24D
CY2023Q4	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.0295
CY2022Q4	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.0225
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	63000000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	47000000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	35000000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	26000000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	17000000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	36000000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	224000000	usd
CY2023Q4	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	18000000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	206000000	usd
CY2023Q4	us-gaap	Short Term Borrowings ShortTermBorrowings	1825000000	usd
CY2022Q4	us-gaap	Short Term Borrowings ShortTermBorrowings	1590000000	usd
CY2023Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6339000000	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6173000000	usd
CY2023Q4	us-gaap	Debt Longterm And Shortterm Combined Amount DebtLongtermAndShorttermCombinedAmount	8164000000	usd
CY2022Q4	us-gaap	Debt Longterm And Shortterm Combined Amount DebtLongtermAndShorttermCombinedAmount	7763000000	usd
CY2023Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	1361000000	usd
CY2022Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	535000000	usd
CY2023Q4	us-gaap	Commercial Paper CommercialPaper	464000000	usd
CY2022Q4	us-gaap	Commercial Paper CommercialPaper	1053000000	usd
CY2023Q4	us-gaap	Other Short Term Borrowings OtherShortTermBorrowings	0	usd
CY2022Q4	us-gaap	Other Short Term Borrowings OtherShortTermBorrowings	2000000	usd
CY2023Q4	us-gaap	Short Term Borrowings ShortTermBorrowings	1825000000	usd
CY2022Q4	us-gaap	Short Term Borrowings ShortTermBorrowings	1590000000	usd
CY2023Q4	us-gaap	Long Term Debt LongTermDebt	7700000000	usd
CY2023Q4	us-gaap	Long Term Debt LongTermDebt	7700000000	usd
CY2023Q4	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	7457000000	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
CY2023Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	1361000000	usd
CY2022Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	535000000	usd
CY2023Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6339000000	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6173000000	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	1361000000	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	1434000000	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	997000000	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	549000000	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	0	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	3359000000	usd
CY2023Q4	us-gaap	Long Term Debt LongTermDebt	7700000000	usd
CY2023	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	117000000	usd
CY2022	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	111000000	usd
CY2021	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	88000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Projected Benefit Obligation DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsProjectedBenefitObligation	179000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Projected Benefit Obligation DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsProjectedBenefitObligation	137000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Plan Assets DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets	55000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Plan Assets DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets	22000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation	175000000	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
CY2023Q4	us-gaap	Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets	55000000	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
CY2023Q4	itw	Defined Benefit Plan Health Care Cost Trend Rates Assumed For Next Fiscal Year DefinedBenefitPlanHealthCareCostTrendRatesAssumedForNextFiscalYear	0.0750
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
CY2023Q4	us-gaap	Defined Benefit Plan Ultimate Health Care Cost Trend Rate1 DefinedBenefitPlanUltimateHealthCareCostTrendRate1	0.0450
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
CY2023	us-gaap	Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate DefinedBenefitPlanYearHealthCareCostTrendRateReachesUltimateTrendRate	2033
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
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	300000	shares
CY2023	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	5.42
CY2022	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	5.06
CY2021	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	4.72
CY2023	us-gaap	Common Stock Dividends Per Share Cash Paid CommonStockDividendsPerShareCashPaid	5.33
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
CY2023	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax	-109000000	usd
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
CY2022Q4	us-gaap	Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax	-1500000000	usd
CY2023Q4	us-gaap	Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax	-1500000000	usd
CY2023Q4	us-gaap	Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax	327000000	usd
CY2022Q4	us-gaap	Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax	293000000	usd
CY2023Q4	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	10000000	shares
CY2023Q4	itw	Number Of Shares For Each Vested Rsu Or Prsu Award NumberOfSharesForEachVestedRsuOrPrsuAward	1	shares
CY2023	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	69000000	usd
CY2022	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	63000000	usd
CY2021	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	53000000	usd
CY2023	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	7000000	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
CY2023	itw	Stock Based Compensation Expense Net Of Tax StockBasedCompensationExpenseNetOfTax	62000000	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
CY2021	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.0250
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	67.16
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
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	79000000	usd
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
CY2023	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	53000000	usd
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
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod	200000	shares
CY2023	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	232.21
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod	200000	shares
CY2023	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	189.20
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	600000	shares
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue	218.85
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	3200000	shares
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$ITW
ILLINOIS TOOL WORKS INC Stock $itw

2024 Q1 Form 10-K Financial Statement

#000004982624000008 Filed on February 09, 2024

Income Statement

Balance Sheet

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Facts In Submission

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$ITW ILLINOIS TOOL WORKS INC Stock $itw

2024 Q1 Form 10-K Financial Statement

#000004982624000008 Filed on February 09, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ITW
ILLINOIS TOOL WORKS INC Stock $itw