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ILLINOIS TOOL WORKS INC (ITW)

Income Statement Business | Geographic

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15Dec-31-14
   10-K10-K10-K10-K10-K10-K10-K10-K
Revenues:  
    Automotive OEM  2,800.02,571.03,063.03,338.03,271.02,864.02,529.02,590.0
    Food Equipment  2,078.01,739.02,188.02,214.02,123.02,110.02,096.02,177.0
    Test & Measurement and Electronics  2,346.01,963.02,121.02,171.02,069.01,974.01,969.02,204.0
    Specialty Products  1,854.01,660.01,825.01,951.01,938.01,885.01,885.02,055.0
    Other  5,377.04,641.04,912.05,094.04,913.04,766.04,926.05,458.0
Total revenues  14,455.012,574.014,109.014,768.014,314.013,599.013,405.014,484.0
            Revenue growth   [+]15.0%-10.9%-4.5%3.2%5.3%1.4%-7.4%2.5%
Cost of goods sold  8,489.07,375.08,187.08,604.08,306.07,908.07,888.08,673.0
Gross profit  5,966.05,199.05,922.06,164.06,008.05,691.05,517.05,811.0
            Gross margin  41.3%41.3%42.0%41.7%42.0%41.8%41.2%40.1%
Selling, general and administrative      -95.0  2,923.0
Other operating expenses  2,489.02,317.02,520.02,580.02,713.02,635.02,650.0 
EBITDA   [+]3,887.03,309.03,828.04,045.03,852.03,526.03,344.03,395.0
            EBITDA margin  26.9%26.3%27.1%27.4%26.9%25.9%24.9%23.4%
Depreciation  277.0273.0267.0272.0256.0246.0244.0262.0
EBITA  3,610.03,036.03,561.03,773.03,596.03,280.03,100.03,133.0
            EBITA margin  25.0%24.1%25.2%25.5%25.1%24.1%23.1%21.6%
Amortization of intangibles  133.0154.0159.0189.0206.0224.0233.0245.0
EBIT   [+]3,477.02,882.03,402.03,584.03,390.03,056.02,867.02,888.0
            EBIT margin  24.1%22.9%24.1%24.3%23.7%22.5%21.4%19.9%
Non-recurring items   [+]    -95.0   
Interest expense, net   [+]190.0189.0192.0222.0215.0199.0174.0185.0
Other income (expense), net   [+]39.011.078.032.0 51.026.0-4.0
Pre-tax income  3,326.02,704.03,288.03,394.03,270.02,908.02,719.02,699.0
Income taxes  632.0595.0767.0831.01,583.0873.0820.0809.0
            Tax rate  19.0%22.0%23.3%24.5%48.4%30.0%30.2%30.0%
Earnings from continuing ops  2,694.02,109.02,521.02,563.01,687.02,035.01,899.01,890.0
Earnings from discontinued ops         1,056.0
Net income  2,694.02,109.02,521.02,563.01,687.02,035.01,899.02,946.0
            Net margin  18.6%16.8%17.9%17.4%11.8%15.0%14.2%20.3%
   
Basic EPS   [+]$8.55$6.66$7.78$7.65$4.90$5.73$5.16$4.71
Diluted EPS   [+]$8.51$6.63$7.74$7.60$4.86$5.70$5.13$4.67
   
Dividends per share   [+]$4.72$4.42$4.14$3.56$2.86$2.40$2.07$1.81
   
Shares outstanding (basic)   [+]315.1316.9323.9335.0344.1355.0367.9401.7
Shares outstanding (diluted)   [+]316.4318.3325.6337.1346.8357.1370.1404.6
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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