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
Quarterly Data

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Illinois Tool Works Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Cash and equivalents
Trade receivables
Inventories
Prepaid expenses and other current assets
Assets held for sale
Current assets
Net plant and equipment
Goodwill
Intangible assets
Deferred income taxes
Other assets
Noncurrent assets
Total assets

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Cash and Equivalents
Cash and equivalents as a percentage of total assets showed a general decline from early 2017 through the end of 2021. Starting from 16.05%, the ratio fluctuated slightly but dropped to 9.5% by December 2021, with notable decreases after 2019, indicating a reduction in liquidity relative to total assets over the period.
Trade Receivables
This category displayed a mild upward trend overall, moving from around 16.32% in March 2017 to approximately 17.66% in December 2021. There were fluctuations throughout the quarters, but trade receivables consistently represented a significant and slightly increasing portion of total assets, suggesting an expansion in credit sales or lengthening customer payment terms.
Inventories
Inventories showed a gradual increase over time, from 7.46% of total assets in early 2017 to 10.54% by the end of 2021. This steady rise indicates a buildup of inventory holdings which could reflect anticipation of higher demand or slower turnover.
Prepaid Expenses and Other Current Assets
This component exhibited minor fluctuations but generally remained stable, hovering between approximately 1.4% and 2.25% of total assets. No significant trend emerged, suggesting consistent management of prepaid items within current assets.
Assets Held for Sale
Data for assets held for sale appeared only from mid-2019 and showed a declining trend from 2.89% to 1.55% by the end of 2020. These assets then disappear from reported data, possibly indicating disposal or reclassification.
Current Assets
Current assets as a share of total assets showed slight variability but remained between about 38% and 43% throughout the period. The proportion dipped around 2018 but recovered post-2020, indicating relative stability and consistent emphasis on liquidity and short-term asset management.
Net Plant and Equipment
Net plant and equipment maintained a fairly steady percentage of total assets, oscillating within a narrow range around 11% to 12%. Minor fluctuations suggest consistent investment and depreciation patterns without major capital expenditure changes.
Goodwill
Goodwill accounted for a significant portion of total assets, generally around 29% to 31%. The ratio slightly fluctuated but remained stable over the observed period, indicating no major impairment or significant acquisition activity affecting goodwill.
Intangible Assets
Intangible assets steadily declined from 9.09% in early 2017 to a low of 4.4% in late 2021, with a small rebound to 6.05% in the final quarter. This suggests amortization or write-downs surpassed new intangible asset additions, possibly reflecting changes in asset valuation or reduced investment in intangibles.
Deferred Income Taxes
Deferred income taxes as a percentage of total assets increased initially from around 2.74% to over 4% during 2018 but showed a slight decline and stabilization close to 3.4% towards the end of the period, indicative of shifting tax timing differences or changes in tax planning.
Other Assets
Other assets demonstrated a gradual increase in their share of total assets, rising from 6.34% in early 2017 to 8.74% by the end of 2021. This steady growth may highlight an expanding diversity of non-current assets or reclassification impacts.
Noncurrent Assets
Noncurrent assets consistently made up a majority of total assets, ranging between approximately 56.6% and 61.2%. The proportion peaked during 2018 and again in late 2020 before stabilizing somewhat, pointing towards sustained capital investment and asset structure composition.
Overall Asset Structure
The total assets sum remained constant at 100%, as expected. The internal asset composition reveals a trend toward relatively higher inventory and other assets shares, with declining cash equivalents and intangible assets. The balance between current and noncurrent assets remained stable, suggesting steady asset management strategies focused on maintaining operational efficiency and investment in long-term assets.