Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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

US$ in millions

		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

The analysis of the data reveals several notable trends in the company's asset composition and fluctuations over the examined periods.

Cash and Equivalents: Cash and equivalents exhibit a generally volatile pattern with significant decline from the peak at the end of 2017 through mid-2018, falling from 3,094 million USD to 1,504 million USD. This is followed by partial recovery through 2020 with fluctuations, and a subsequent decline tracking into late 2021. The highest concentration occurred around late 2017, suggesting a possible liquidity build-up at that time.
Trade Receivables: Trade receivables show moderate expansion overall with values ranging from approximately 2,534 million USD to a peak near 2,840 million USD by late 2021. The trend is relatively stable with minor troughs notably coinciding with mid-2020, possibly reflecting changing sales or credit policies during that period.
Inventories: Inventories have steadily increased from around 1,158 million USD in early 2017 to about 1,694 million USD by the end of 2021. This upward trend, particularly accelerating in the latter half of 2021, may indicate rising stock levels, possibly due to demand anticipation or supply chain adjustments.
Prepaid Expenses and Other Current Assets: Values in this category fluctuate without a clear trend, generally ranging between 230 million USD and 337 million USD. The figures suggest periodic adjustments but maintain a relatively stable base across the quarters.
Assets Held for Sale: This category contains data only during 2019 and early 2020, with amounts declining from 439 million USD down to 221 million USD. The presence of these assets for a limited time frame followed by disappearance may indicate completed disposals or reclassifications.
Current Assets: Current assets demonstrate an overall downward movement from a peak of 7,278 million USD at the end of 2017 to approximately 6,374 million USD by late 2021. The decrease aligns with the reduction noted in cash and equivalents and suggests tightening of liquid and short-term asset holdings.
Net Plant and Equipment: Net plant and equipment remain relatively steady with slight fluctuations in the range of 1,674 million USD to 1,809 million USD. The data indicates stable investment levels and limited depreciation impact, maintaining a consistent asset base in property, plant, and equipment.
Goodwill: Goodwill recorded a general decline from 4,752 million USD at the end of 2017 to about 4,401 million USD in early 2020, followed by recovery and growth reaching 4,965 million USD by the end of 2021. This pattern may highlight both impairments and subsequent acquisitions or revaluations affecting intangible assets linked to business combinations.
Intangible Assets: Intangible assets steadily decreased from 1,411 million USD in early 2017 to a low near 683 million USD by late 2021, with a slight rebound at the end of the period to 972 million USD. The decline suggests amortization or disposals, while the later uptick might be due to new intangible capitalizations or acquisitions.
Deferred Income Taxes: These assets stay within a moderate range, showing some cyclicality but no significant trend, fluctuating between 425 million USD and 658 million USD. The pattern may reflect timing differences in tax recognition rather than structural changes.
Other Assets: Other assets generally increase from 984 million USD to 1,405 million USD over the timeframe, demonstrating a modest but consistent growth that could reflect expanded investments or accruals in non-core asset categories.
Noncurrent Assets: Noncurrent assets trend slightly downward overall from 9,502 million USD at the end of 2017 to around 9,703 million USD by late 2021, combining the effects noted in goodwill, intangible assets, and plant and equipment. The fluctuations hint at asset disposals and acquisition activity over time.
Total Assets: Total assets peaked at 16,780 million USD at the end of 2017, thereafter experiencing a gradual decline to a bottom near 14,149 million USD in early 2020. Subsequent recovery brought total assets to 16,077 million USD by the end of 2021. These variations reflect the cumulative impact of the fluctuations in both current and noncurrent asset categories, possibly driven by operational shifts, strategic capital allocation, and external market conditions.

Assets: Selected Items

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Current Assets: Selected Items