Stock Analysis on Net
Stock Analysis on Net

Illinois Tool Works Inc. (NYSE:ITW)

Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s 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 (quarterly data)

US$ in millions

Microsoft Excel LibreOffice Calc
3 months ended: 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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Operating revenue 2,564  3,228  3,469  3,479  3,609  3,552  3,580  3,613  3,831  3,744  3,629  3,615  3,599  3,471  3,399  3,495  3,431  3,274  3,275  3,354  3,434  3,342 
Cost of revenue (1,594) (1,871) (2,022) (2,007) (2,099) (2,059) (2,096) (2,096) (2,231) (2,181) (2,124) (2,094) (2,087) (2,004) (2,006) (2,027) (1,967) (1,896) (1,941) (1,953) (2,024) (1,970)
Gross profit 970  1,357  1,447  1,472  1,510  1,493  1,484  1,517  1,600  1,563  1,505  1,521  1,512  1,467  1,393  1,468  1,464  1,378  1,334  1,401  1,410  1,372 
Selling, administrative, and research and development expenses (486) (560) (586) (566) (598) (611) (578) (581) (620) (612) (605) (589) (601) (605) (597) (604) (617) (597) (598) (581) (622) (616)
Legal settlement income —  —  —  —  —  —  —  —  —  —  —  80  15  —  —  —  —  —  —  —  —  — 
Amortization and impairment of intangible assets (35) (36) (37) (38) (41) (43) (46) (47) (48) (48) (50) (51) (52) (53) (54) (56) (55) (59) (57) (59) (58) (59)
Operating income 449  761  824  868  871  839  860  889  932  903  850  961  874  809  742  808  792  722  679  761  730  697 
Interest expense (51) (51) (51) (52) (55) (63) (63) (64) (64) (66) (66) (65) (65) (64) (63) (58) (58) (58) (58) (59) (55) (54)
Other income (expense) 25  58  26  14  19  10  26  12  12  10  10  47  13  17  13  23  21  21 
Income before taxes 406  735  831  842  825  790  816  835  894  849  796  906  819  749  726  763  751  668  634  725  696  664 
Income taxes (87) (169) (190) (182) (202) (193) (209) (197) (228) (197) (872) (266) (232) (213) (219) (228) (226) (200) (184) (214) (216) (206)
Net income 319  566  641  660  623  597  607  638  666  652  (76) 640  587  536  507  535  525  468  450  511  480  458 

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-08), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-28), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07).

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.’s operating revenue decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Operating income The net result for the period of deducting operating expenses from operating revenues. Illinois Tool Works Inc.’s operating income decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
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.’s income before taxes decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
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.’s net income decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.