Income Statement
Quarterly Data

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 (quarterly data)

US$ in millions

3 months ended:	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
Operating revenue	3,679)	3,556)	3,676)	3,544)	3,475)	3,307)	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)
Cost of revenue	(2,191)	(2,096)	(2,163)	(2,039)	(2,000)	(1,910)	(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)
Gross profit	1,488)	1,460)	1,513)	1,505)	1,475)	1,397)	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)
Selling, administrative, and research and development expenses	(621)	(581)	(588)	(566)	(557)	(560)	(486)	(560)	(586)	(566)	(598)	(611)	(578)	(581)	(620)	(612)	(605)	(589)	(601)	(605)
Legal settlement income	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	80)	15)	—)
Amortization and impairment of intangible assets	(33)	(34)	(32)	(34)	(35)	(48)	(35)	(36)	(37)	(38)	(41)	(43)	(46)	(47)	(48)	(48)	(50)	(51)	(52)	(53)
Operating income	834)	845)	893)	905)	883)	789)	449)	761)	824)	868)	871)	839)	860)	889)	932)	903)	850)	961)	874)	809)
Interest expense	(49)	(49)	(52)	(52)	(52)	(52)	(51)	(51)	(51)	(52)	(55)	(63)	(63)	(64)	(64)	(66)	(66)	(65)	(65)	(64)
Other income (expense)	7)	10)	22)	12)	(7)	2)	8)	25)	58)	26)	9)	14)	19)	10)	26)	12)	12)	10)	10)	4)
Income before taxes	792)	806)	863)	865)	824)	739)	406)	735)	831)	842)	825)	790)	816)	835)	894)	849)	796)	906)	819)	749)
Income taxes	(183)	(167)	(88)	(194)	(182)	(157)	(87)	(169)	(190)	(182)	(202)	(193)	(209)	(197)	(228)	(197)	(872)	(266)	(232)	(213)
Net income	609)	639)	775)	671)	642)	582)	319)	566)	641)	660)	623)	597)	607)	638)	666)	652)	(76)	640)	587)	536)

Download chart

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 Q2 2021 to Q3 2021 but then increased from Q3 2021 to Q4 2021 exceeding Q2 2021 level.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Illinois Tool Works Inc. operating income decreased from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
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 Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
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 Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Illinois Tool Works Inc. (NYSE:ITW)

Income StatementQuarterly Data

Income Statement
Quarterly Data