Stock Analysis on Net

Illinois Tool Works Inc. (NYSE:ITW)

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

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Illinois Tool Works Inc., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Operating revenue 14,455 12,574 14,109 14,768 14,314
Cost of revenue (8,489) (7,375) (8,187) (8,604) (8,309)
Gross profit 5,966 5,199 5,922 6,164 6,005
Selling, administrative, and research and development expenses (2,356) (2,163) (2,361) (2,391) (2,400)
Legal settlement income 95
Amortization and impairment of intangible assets (133) (154) (159) (189) (206)
Operating income 3,477 2,882 3,402 3,584 3,494
Interest expense (202) (206) (221) (257) (260)
Interest income 12 17 29 35 45
Other net periodic benefit income 23 13 24 20
Income from investments 29 8 15 9 16
Gain (loss) on disposal of operations and affiliates 44 (2) 1
Loss on foreign currency transactions, net (9) (5) (10) (1) (25)
Other, net (4) (5) 5 6 (1)
Other income (expense) 51 28 107 67 36
Income before taxes 3,326 2,704 3,288 3,394 3,270
Income taxes (632) (595) (767) (831) (1,583)
Net income 2,694 2,109 2,521 2,563 1,687

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).

Income statement item Description The company
Operating revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Illinois Tool Works Inc. operating revenue decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. Illinois Tool Works Inc. operating income decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Income before taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Illinois Tool Works Inc. income before taxes decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Illinois Tool Works Inc. net income decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.