Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Illinois Tool Works Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Short-term debt	778)	350)	4)	1,351)	850)
Accounts payable	585)	534)	472)	524)	590)
Compensation and employee benefits	460)	335)	335)	391)	411)
Deferred revenue and customer deposits	394)	222)	188)	215)	205)
Rebates	209)	171)	159)	172)	147)
Current portion of operating lease liabilities	61)	55)	51)	—)	—)
Warranties	46)	45)	45)	45)	45)
Current portion of pension and other postretirement benefit obligations	14)	14)	14)	16)	16)
Other	464)	442)	425)	432)	434)
Accrued expenses	1,648)	1,284)	1,217)	1,271)	1,258)
Cash dividends payable	382)	361)	342)	328)	266)
Income taxes payable	77)	60)	48)	68)	89)
Liabilities held for sale	—)	—)	71)	—)	—)
Current liabilities	3,470)	2,589)	2,154)	3,542)	3,053)
Long-term debt	6,909)	7,772)	7,754)	6,029)	7,478)
Deferred income taxes	654)	588)	668)	707)	164)
Noncurrent income taxes payable	365)	413)	462)	495)	614)
Pension benefit obligation	235)	241)	215)	203)	219)
Postretirement benefit obligation	148)	191)	198)	179)	174)
Long-term portion of operating lease liabilities	133)	133)	128)	—)	—)
Other	537)	503)	459)	457)	489)
Other liabilities	1,053)	1,068)	1,000)	839)	882)
Noncurrent liabilities	8,981)	9,841)	9,884)	8,070)	9,138)
Total liabilities	12,451)	12,430)	12,038)	11,612)	12,191)
Common stock, par value of $0.01 per share	6)	6)	6)	6)	6)
Additional paid-in-capital	1,432)	1,362)	1,304)	1,253)	1,218)
Retained earnings	24,325)	23,114)	22,403)	21,217)	20,210)
Common stock held in treasury	(20,636)	(19,659)	(18,982)	(17,545)	(15,562)
Accumulated other comprehensive loss	(1,502)	(1,642)	(1,705)	(1,677)	(1,287)
Stockholders’ equity attributable to ITW	3,625)	3,181)	3,026)	3,254)	4,585)
Noncontrolling interest	1)	1)	4)	4)	4)
Total stockholders’ equity	3,626)	3,182)	3,030)	3,258)	4,589)
Total liabilities and stockholders’ equity	16,077)	15,612)	15,068)	14,870)	16,780)

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).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Illinois Tool Works Inc. current liabilities increased from 2019 to 2020 and from 2020 to 2021.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Illinois Tool Works Inc. noncurrent liabilities decreased from 2019 to 2020 and from 2020 to 2021.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Illinois Tool Works Inc. total liabilities increased from 2019 to 2020 and from 2020 to 2021.
Stockholders’ equity attributable to ITW	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Illinois Tool Works Inc. stockholders’ equity attributable to ITW increased from 2019 to 2020 and from 2020 to 2021.

Illinois Tool Works Inc. (NYSE:ITW)

Balance Sheet: Liabilities and Stockholders’ Equity