Illinois Tool Works Inc (ITW) financial statements: income statement, balance sheet and cash flow

Illinois Tool Works Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Illinois Tool Works Inc reported revenue of $16.0B (+0.9% year on year) and net income of $3.1B (-12.1% year on year).

Income statement

Illinois Tool Works Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Operating Revenue	$16.0B	$15.9B	$16.1B	$15.9B
Cost of revenue	$9.0B	$8.9B	$9.3B	$9.4B
Selling, administrative, and research and development expenses	$2.8B	$2.7B	$2.6B	$2.6B
Amortization and impairment of intangible assets	$80.0M	$101.0M	$113.0M	$134.0M
Operating Income	$4.2B	$4.3B	$4.0B	$3.8B
Interest expense	($292.0M)	($283.0M)	($266.0M)	($203.0M)
Other income (expense)	$42.0M	$441.0M	$49.0M	$255.0M
Income Before Taxes	$4.0B	$4.4B	$3.8B	$3.8B
Income taxes	$900.0M	$934.0M	$866.0M	$808.0M
Net Income	$3.1B	$3.5B	$3.0B	$3.0B
Basic (in dollars per share)	$10.52	$11.75	$9.77	$9.80
Diluted (in dollars per share)	$10.49	$11.71	$9.74	$9.77

Illinois Tool Works Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Operating Revenue	$4.3B	$4.0B	$4.1B	$4.1B
Cost of revenue	$2.4B	$2.3B	$2.3B	$2.3B
Selling, administrative, and research and development expenses	$735.0M	$722.0M	$676.0M	$693.0M
Amortization and impairment of intangible assets	$16.0M	$18.0M	$18.0M	$21.0M
Operating Income	$1.1B	$1.0B	$1.1B	$1.1B
Interest expense	($79.0M)	($73.0M)	($75.0M)	($74.0M)
Other income (expense)	$12.0M	$20.0M	$12.0M	$4.0M
Income Before Taxes	$1.1B	$967.0M	$1.0B	$998.0M
Income Taxes	$265.0M	$199.0M	$228.0M	$243.0M
Net Income	$815.0M	$768.0M	$821.0M	$755.0M
Basic (in dollars per share)	$2.85	$2.66	$2.82	$2.58
Diluted (in dollars per share)	$2.84	$2.66	$2.81	$2.58
Average (in shares)	286.4M	288.3M	290.8M	292.3M
Average assuming dilution (in shares)	287.0M	289.1M	291.7M	292.9M

Balance sheet

Illinois Tool Works Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and equivalents	$851.0M	$948.0M	$1.1B	$708.0M
Trade receivables	$3.2B	$3.0B	$3.1B	$3.2B
Inventories	$1.7B	$1.6B	$1.7B	$2.1B
Prepaid expenses and other current assets	$463.0M	$312.0M	$340.0M	$329.0M
Total current assets	$6.2B	$5.9B	$6.2B	$6.3B
Net plant and equipment	$2.2B	$2.0B	$2.0B	$1.8B
Goodwill	$5.1B	$4.8B	$4.9B	$4.9B
Intangible assets	$591.0M	$592.0M	$657.0M	$768.0M
Deferred income taxes	$519.0M	$369.0M	$479.0M	$494.0M
Other assets	$1.5B	$1.4B	$1.3B	$1.2B
Total assets	$16.1B	$15.1B	$15.5B	$15.4B
Short-term debt	$2.3B	$1.6B	$1.8B	$1.6B
Accounts payable	$522.0M	$519.0M	$581.0M	$594.0M
Accrued expenses	$1.6B	$1.6B	$1.7B	$1.7B
Cash dividends payable	$465.0M	$441.0M	$419.0M	$400.0M
Income taxes payable	$217.0M	$217.0M	$187.0M	$147.0M
Total current liabilities	$5.1B	$4.3B	$4.7B	$4.5B
Long-term debt	$6.7B	$6.3B	$6.3B	$6.2B
Deferred income taxes	$154.0M	$119.0M	$326.0M	$484.0M
Other liabilities	$959.0M	$1.0B	$1.0B	$943.0M
Total noncurrent liabilities	$7.8B	$7.4B	$7.8B	$7.9B
Common stock (Authorized- 700.0 shares; par value of $0.01 per share): Issued- 550.0 shares in 2025 and 2024 Outstanding- 288.6 shares in 2025 and 294.0 shares in 2024	$6000000.00	$6000000.00	$6000000.00	$6000000.00
Additional paid-in-capital	$1.8B	$1.7B	$1.6B	$1.5B
Retained earnings	$30.1B	$28.9B	$27.1B	$25.8B
Common stock held in treasury	($26.9B)	($25.4B)	($23.9B)	($22.4B)
Accumulated other comprehensive income (loss)	($1.8B)	($1.9B)	($1.8B)	($1.8B)
Noncontrolling interest	$1.0M	$1.0M	$1.0M	$1.0M
Total stockholders' equity	$3.2B	$3.3B	$3.0B	$3.1B
Total liabilities and stockholders' equity	$16.1B	$15.1B	$15.5B	$15.4B

Illinois Tool Works Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and equivalents	$839.0M	$827.0M	$924.0M	$788.0M
Trade receivables	$3.6B	$3.4B	$3.3B	$3.3B
Inventories	$1.8B	$1.7B	$1.7B	$1.7B
Prepaid expenses and other current assets	$441.0M	$402.0M	$416.0M	$416.0M
Total current assets	$6.6B	$6.3B	$6.3B	$6.2B
Net plant and equipment	$2.2B	$2.2B	$2.2B	$2.2B
Goodwill	$5.1B	$5.1B	$5.0B	$5.0B
Intangible assets	$558.0M	$574.0M	$540.0M	$558.0M
Deferred income taxes	$489.0M	$505.0M	$573.0M	$564.0M
Other assets	$1.5B	$1.5B	$1.5B	$1.5B
Total assets	$16.5B	$16.3B	$16.1B	$16.0B
Short-term debt	$3.1B	$2.5B	$1.3B	$1.2B
Accounts payable	$636.0M	$609.0M	$608.0M	$613.0M
Accrued expenses	$1.6B	$1.5B	$1.6B	$1.5B
Cash dividends payable	$457.0M	$463.0M	$467.0M	$437.0M
Income taxes payable	$123.0M	$180.0M	$223.0M	$96.0M
Total current liabilities	$6.0B	$5.3B	$4.1B	$3.9B
Long-term debt	$6.5B	$6.6B	$7.7B	$7.7B
Deferred income taxes	$162.0M	$158.0M	$149.0M	$144.0M
Other liabilities	$935.0M	$942.0M	$970.0M	$1.1B
Total noncurrent liabilities	$7.6B	$7.7B	$8.8B	$8.9B
Common stock (Authorized- 700.0 shares; par value of $0.01 per share): Issued- 550.0 shares in 2026 and 2025 Outstanding- 0.0 shares in 2026 and 288.6 shares in 2025	$6000000.00	$6000000.00	$6000000.00	$6000000.00
Additional paid-in-capital	$1.8B	$1.8B	$1.8B	$1.7B
Retained earnings	$30.8B	$30.5B	$29.8B	$29.5B
Common stock held in treasury	($28.0B)	($27.2B)	($26.5B)	($26.1B)
Accumulated other comprehensive income (loss)	($1.8B)	($1.8B)	($1.9B)	($1.9B)
Noncontrolling interest	$1.0M	$1.0M	$1.0M	$1.0M
Total stockholders' equity	$2.9B	$3.2B	$3.2B	$3.2B
Total liabilities and stockholders' equity	$16.5B	$16.3B	$16.1B	$16.0B

Cash flow statement

Illinois Tool Works Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$3.1B	$3.5B	$3.0B	$3.0B
Depreciation	$317.0M	$301.0M	$282.0M	$276.0M
Amortization and impairment of intangible assets	$80.0M	$101.0M	$113.0M	$134.0M
Change in deferred income taxes	($17.0M)	($176.0M)	($88.0M)	($150.0M)
Provision for uncollectible accounts	$5.0M	($1.0M)	$6.0M	$5.0M
(Income) loss from investments	$0	$0	($2.0M)	($9.0M)
(Gain) loss on sale of plant and equipment	$3.0M	$0	($1.0M)	($1.0M)
(Gain) loss on sale of operations and affiliates	$0	$0	($1.0M)	($191.0M)
Gain on sale of noncontrolling interest in Wilsonart International Holdings LLC	$0	($363.0M)	—	—
Stock-based compensation expense	$69.0M	$61.0M	$69.0M	$63.0M
Cumulative effect of change in inventory accounting method	$0	($117.0M)	—	—
Other non-cash items, net	$9.0M	$6.0M	($4.0M)	$5.0M
Trade receivables	($92.0M)	$34.0M	$64.0M	($461.0M)
Inventories	$34.0M	$176.0M	$360.0M	($455.0M)
Prepaid expenses and other assets	($136.0M)	($41.0M)	($26.0M)	($19.0M)
Accounts payable	($29.0M)	($43.0M)	($14.0M)	$35.0M
Accrued expenses and other liabilities	($48.0M)	($74.0M)	($102.0M)	$119.0M
Income taxes	($135.0M)	($70.0M)	($72.0M)	($35.0M)
Other, net	$0	($1.0M)	($2.0M)	($2.0M)
Net cash provided by operating activities	$3.1B	$3.3B	$3.5B	$2.3B
Acquisition of businesses (excluding cash and equivalents)	($119.0M)	($115.0M)	$0	($2.0M)
Additions to plant and equipment	($419.0M)	($437.0M)	($455.0M)	($412.0M)
Proceeds from investments	$7.0M	$11.0M	$27.0M	$12.0M
Proceeds from sale of plant and equipment	$11.0M	$12.0M	$20.0M	$15.0M
Proceeds from sale of operations and affiliates	$1.0M	$0	$7.0M	$278.0M
Proceeds from sale of noncontrolling interest in Wilsonart International Holdings LLC	$0	$395.0M	—	—
Other, net	($2.0M)	($10.0M)	($2.0M)	($1.0M)
Net cash provided by (used for) investing activities	($521.0M)	($144.0M)	($403.0M)	($110.0M)
Cash dividends paid	($1.8B)	($1.7B)	($1.6B)	($1.5B)
Issuance of common stock	$65.0M	$52.0M	$53.0M	$29.0M
Repurchases of common stock	($1.5B)	($1.5B)	($1.5B)	($1.8B)
Net proceeds from (repayments of) debt with original maturities of three months or less	$508.0M	$312.0M	($452.0M)	$796.0M
Proceeds from debt with original maturities of more than three months	$0	$1.6B	$1.4B	$593.0M
Repayments of debt with original maturities of more than three months	$0	($1.9B)	($679.0M)	($1.1B)
Other, net	($32.0M)	($38.0M)	($14.0M)	($13.0M)
Net cash provided by (used for) financing activities	($2.7B)	($3.2B)	($2.8B)	($3.0B)
Effect of Exchange Rate Changes on Cash and Equivalents	$42.0M	($65.0M)	$3.0M	($57.0M)
Increase (decrease) during the year	($97.0M)	($117.0M)	$357.0M	($819.0M)
Beginning of year	$948.0M	$1.1B	$708.0M	$1.5B
End of year	$851.0M	$948.0M	$1.1B	$708.0M
Cash Paid During the Year for Interest	$279.0M	$248.0M	$260.0M	$199.0M
Cash Paid During the Year for Income Taxes, Net of Refunds	$1.1B	$1.2B	$1.0B	$993.0M

Illinois Tool Works Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$1.6B	$768.0M	$2.3B	$1.5B
Depreciation	$163.0M	$81.0M	$234.0M	$152.0M
Amortization and impairment of intangible assets	$34.0M	$18.0M	$60.0M	$42.0M
Change in deferred income taxes	$7.0M	$1.0M	($39.0M)	($30.0M)
Net provision for (recoveries of) uncollectible accounts	$2.0M	$1.0M	$4.0M	$3.0M
(Income) loss from investments	$1.0M	$1.0M	($1.0M)	$0
(Gain) loss on sale of plant and equipment	$0	$0	$2.0M	$2.0M
Stock-based compensation expense	$40.0M	$18.0M	$52.0M	$35.0M
Other non-cash items, net	$10.0M	$2.0M	$5.0M	$4.0M
Trade receivables	($349.0M)	($165.0M)	($135.0M)	($190.0M)
Inventories	($107.0M)	($75.0M)	($48.0M)	($30.0M)
Prepaid expenses and other assets	($1.0M)	($12.0M)	($60.0M)	($63.0M)
Accounts payable	$118.0M	$91.0M	$60.0M	$61.0M
Accrued expenses and other liabilities	($43.0M)	($100.0M)	($91.0M)	($105.0M)
Income taxes	($112.0M)	($6.0M)	($156.0M)	($194.0M)
Net cash provided by operating activities	$1.3B	$623.0M	$2.2B	$1.1B
Acquisition of businesses (excluding cash and equivalents)	$0	$0	$1.0M	$1.0M
Additions to plant and equipment	($187.0M)	($95.0M)	($314.0M)	($197.0M)
Proceeds from investments	$1.0M	$0	$6.0M	$5.0M
Proceeds from sale of plant and equipment	$4.0M	$2.0M	$7.0M	$7.0M
Proceeds from sale of operations and affiliates	$0	—	$1.0M	$1.0M
Other, net	($2.0M)	$0	$0	$0
Net cash provided by (used for) investing activities	($184.0M)	($99.0M)	($300.0M)	($184.0M)
Cash dividends paid	($928.0M)	($465.0M)	($1.3B)	($880.0M)
Issuance of common stock	$52.0M	$52.0M	$60.0M	$47.0M
Repurchases of common stock	($1.1B)	($375.0M)	($1.1B)	($750.0M)
Net proceeds from (repayments of) debt with original maturities of three months or less	$855.0M	$259.0M	$489.0M	$464.0M
Other, net	($33.0M)	($6.0M)	($1.0M)	($1.0M)
Net cash provided by (used for) financing activities	($1.2B)	($547.0M)	($1.9B)	($1.2B)
Effect of Exchange Rate Changes on Cash and Equivalents	$5.0M	($1.0M)	$39.0M	$33.0M
Increase (decrease) during the period	($12.0M)	($24.0M)	($24.0M)	($160.0M)
Beginning of period	$851.0M	$851.0M	$948.0M	$948.0M
End of period	$839.0M	$827.0M	$924.0M	$788.0M
Cash Paid During the Period for Interest	$189.0M	$59.0M	$243.0M	$181.0M
Cash Paid During the Period for Income Taxes, Net of Refunds	$568.0M	$205.0M	$862.0M	$662.0M

Illinois Tool Works Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.