Stock Analysis on Net
Stock Analysis on Net

Illinois Tool Works Inc. (NYSE:ITW)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 11, 2022.

Common-Size Balance Sheet: Assets

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Illinois Tool Works Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Cash and equivalents
Trade receivables
Inventories
Value-added-tax receivables
Vendor advances
Income tax refunds receivable
Other
Prepaid expenses and other current assets
Assets held for sale
Current assets
Net plant and equipment
Goodwill
Intangible assets
Deferred income taxes
Prepaid pension assets
Cash surrender value of life insurance policies
Operating lease right-of-use assets
Customer tooling
Other
Other assets
Noncurrent assets
Total assets

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Cash and equivalents
The proportion of cash and equivalents relative to total assets exhibited a fluctuating trend, starting at 18.44% in 2017, dipping to a low of 9.5% by 2021 after an intermediate decline in 2018. This indicates a reduced liquidity buffer over the period.
Trade receivables
This category increased from 15.66% in 2017 to a peak of 17.66% in 2021, with minor variations. The upward trend suggests a growing amount of receivables on the balance sheet, potentially reflecting increased sales or changing credit policies.
Inventories
Inventories as a percentage of total assets showed moderate variability, rising from 7.27% in 2017 to 10.54% in 2021, with a dip in 2019 and 2020. The increase in 2021 may indicate higher stock levels or slower inventory turnover.
Value-added-tax receivables
The proportion of VAT receivables remained relatively stable and low, maintaining around 0.4% to 0.5% of total assets across the years, suggesting consistent tax-related asset positions.
Vendor advances
Vendor advances increased notably from 0.15% in 2017 to 0.44% in 2021, representing a nearly threefold growth. This may reflect changes in supplier payment practices or increased advance payments.
Income tax refunds receivable
There was a clear declining trend in income tax refunds receivable, falling from 0.72% in 2017 to 0.11% in 2021, indicating fewer tax receivables or improved tax payment positioning.
Other current assets
The category labeled as "Other" within current assets experienced slight fluctuations, increasing marginally from 0.71% to 0.87% over the time period, suggesting minor changes in miscellaneous current asset components.
Prepaid expenses and other current assets
This subcategory stayed fairly consistent, showing minor fluctuations around 2%, with a small dip in 2020. The stability indicates steady prepaid and similar current asset balances.
Assets held for sale
Assets held for sale were recorded only in 2019 at 2.33%, absent in other years, implying a one-time classification of certain assets as held for sale during that year.
Current assets overall
Total current assets as a percentage of total assets decreased from 43.37% in 2017 to 39.65% in 2021, reflecting a relative decline in short-term asset holdings within the total asset base over the period.
Net plant and equipment
This item increased from 10.6% in 2017 to peak at 12.04% in 2018 but then gradually decreased to 11.25% in 2021, indicating some level of reinvestment or depreciation balance changes over these years.
Goodwill
Goodwill accounted for a significant share of total assets, rising from 28.32% in 2017 to 30.88% in 2021, with minor fluctuations. This suggests ongoing acquisitions or stable goodwill valuation on the balance sheet.
Intangible assets
Intangible assets showed a decreasing trend from 7.58% in 2017 to 5% in 2020, with a slight rebound to 6.05% in 2021. This may reflect amortization or disposals followed by some additions or revaluations.
Deferred income taxes
The proportion of deferred income taxes held steady around 3.4%, rising slightly from 3.01% to 3.43% over the period, indicating relatively stable deferred tax positions.
Prepaid pension assets
Prepaid pension assets gradually increased from 2.01% in 2017 to 2.89% in 2021, suggesting improved pension asset funding or changes in actuarial assumptions.
Cash surrender value of life insurance policies
This asset remained relatively steady, fluctuating narrowly around 2.6% to 2.9%, indicating a consistent valuation of these policies.
Operating lease right-of-use assets
Starting to be reported from 2019 at 1.37%, these assets remained stable at approximately 1.38% through to 2021, reflecting the adoption and consistent application of lease accounting standards.
Customer tooling
The share of customer tooling declined slightly from 1.1% to 0.96%, displaying a stable but slightly reduced presence among total assets.
Other (non-current) assets
Non-current other assets showed a modest decline from 1.38% in 2017 to 0.72% in 2021, indicating a reduction or reclassification of miscellaneous non-current assets.
Other assets (general)
The general category for other assets increased steadily from 7.12% in 2017 to 8.74% in 2021, highlighting growth or additions in miscellaneous assets not specifically categorized elsewhere.
Noncurrent assets overall
The total noncurrent asset proportion increased from 56.63% in 2017 to 60.35% in 2021. This rise reflects a gradual shift towards greater long-term asset holdings within the company's asset structure.
Total assets
The total assets remained constant at 100%, serving as the basis for all relative calculations.