Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Illinois Tool Works Inc. (NYSE:ITW)

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Adjustments to Financial Statements

Advanced level

Adjustments to Current Assets

Illinois Tool Works Inc., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Current assets
Adjustments
Add: Allowance for doubtful accounts
Add: LIFO reserve1
After Adjustment
Adjusted current assets

Based on: 10-K (filing date: 2021-02-12), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-10).

1 LIFO reserve. See details »

Adjustments to Total Assets

Illinois Tool Works Inc., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Total assets
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Add: Allowance for doubtful accounts
Add: LIFO reserve2
Less: Deferred income tax assets3
After Adjustment
Adjusted total assets

Based on: 10-K (filing date: 2021-02-12), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-10).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 LIFO reserve. See details »

3 Deferred income tax assets. See details »

Adjustments to Current Liabilities

Illinois Tool Works Inc., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Current liabilities
Adjustments
Less: Current deferred revenue and customer deposits
Less: Current accrued product warranties
After Adjustment
Adjusted current liabilities

Based on: 10-K (filing date: 2021-02-12), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-10).

Adjustments to Total Liabilities

Illinois Tool Works Inc., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Total liabilities
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1
Less: Deferred income tax liabilities2
Less: Deferred revenue and customer deposits
Less: Accrued product warranties
After Adjustment
Adjusted total liabilities

Based on: 10-K (filing date: 2021-02-12), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-10).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred income tax liabilities. See details »

Adjustments to Stockholders’ Equity

Illinois Tool Works Inc., adjusted stockholders’ equity attributable to ITW

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Stockholders’ equity attributable to ITW
Adjustments
Less: Net deferred income tax assets (liabilities)1
Add: Allowance for doubtful accounts
Add: LIFO reserve2
Add: Deferred revenue and customer deposits
Add: Accrued product warranties
Add: Noncontrolling interest
After Adjustment
Adjusted total stockholders’ equity

Based on: 10-K (filing date: 2021-02-12), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-10).

1 Net deferred income tax assets (liabilities). See details »

2 LIFO reserve. See details »

Adjustments to Capitalization Table

Illinois Tool Works Inc., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Short-term debt
Long-term debt
Total reported debt
Stockholders’ equity attributable to ITW
Total reported capital
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1
Add: Current portion of operating lease liabilities2
Add: Long-term portion of operating lease liabilities3
Adjusted total debt
Adjustments to Equity
Less: Net deferred income tax assets (liabilities)4
Add: Allowance for doubtful accounts
Add: LIFO reserve5
Add: Deferred revenue and customer deposits
Add: Accrued product warranties
Add: Noncontrolling interest
Adjusted total stockholders’ equity
After Adjustment
Adjusted total capital

Based on: 10-K (filing date: 2021-02-12), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-10).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current portion of operating lease liabilities. See details »

3 Long-term portion of operating lease liabilities. See details »

4 Net deferred income tax assets (liabilities). See details »

5 LIFO reserve. See details »

Adjustments to Revenues

Illinois Tool Works Inc., adjusted operating revenue

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Operating revenue
Adjustment
Add: Increase (decrease) in deferred revenue and customer deposits
After Adjustment
Adjusted operating revenue

Based on: 10-K (filing date: 2021-02-12), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-10).

Adjustments to Reported Income

Illinois Tool Works Inc., adjusted net income

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Net income
Adjustments
Add: Deferred income tax expense (benefit)1
Add: Increase (decrease) in allowance for doubtful accounts
Add: Increase (decrease) in LIFO reserve2
Add: Increase (decrease) in deferred revenue and customer deposits
Add: Increase (decrease) in accrued product warranties
Add: Other comprehensive income (loss)
After Adjustment
Adjusted net income

Based on: 10-K (filing date: 2021-02-12), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-10).

1 Deferred income tax expense (benefit). See details »

2 Increase (decrease) in LIFO reserve. See details »