Analysis of Reportable Segments
Illinois Tool Works Inc. operates in 7 segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.
Segment Profit Margin
Illinois Tool Works Inc., profit margin by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Automotive OEM | 19.46% | 17.78% | 21.51% | 22.50% | 22.84% |
| Food Equipment | 22.57% | 19.67% | 26.42% | 25.84% | 26.19% |
| Test & Measurement and Electronics | 27.41% | 25.83% | 25.55% | 24.09% | 22.43% |
| Welding | 29.70% | 27.17% | 27.66% | 28.03% | 26.98% |
| Polymers & Fluids | 25.33% | 24.78% | 22.83% | 21.40% | 20.71% |
| Construction Products | 27.25% | 25.48% | 23.57% | 24.35% | 23.86% |
| Specialty Products | 27.18% | 26.02% | 25.86% | 26.76% | 27.19% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Automotive OEM | Automotive OEM segment profit margin ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| Food Equipment | Food Equipment segment profit margin ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. | |
| Test & Measurement and Electronics | Test & Measurement and Electronics segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. | |
| Welding | Welding segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. | |
| Polymers & Fluids | Polymers & Fluids segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. | |
| Construction Products | Construction Products segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. | |
| Specialty Products | Specialty Products segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: Automotive OEM
Illinois Tool Works Inc.; Automotive OEM; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 545) | 457) | 659) | 751) | 747) |
| Operating revenue | 2,800) | 2,571) | 3,063) | 3,338) | 3,271) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 19.46% | 17.78% | 21.51% | 22.50% | 22.84% |
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).
1 2021 Calculation
Segment profit margin = 100 × Operating income ÷ Operating revenue
= 100 × 545 ÷ 2,800 = 19.46%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Automotive OEM | Automotive OEM segment profit margin ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Segment Profit Margin: Food Equipment
Illinois Tool Works Inc.; Food Equipment; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 469) | 342) | 578) | 572) | 556) |
| Operating revenue | 2,078) | 1,739) | 2,188) | 2,214) | 2,123) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 22.57% | 19.67% | 26.42% | 25.84% | 26.19% |
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).
1 2021 Calculation
Segment profit margin = 100 × Operating income ÷ Operating revenue
= 100 × 469 ÷ 2,078 = 22.57%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Food Equipment | Food Equipment segment profit margin ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Segment Profit Margin: Test & Measurement and Electronics
Illinois Tool Works Inc.; Test & Measurement and Electronics; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 643) | 507) | 542) | 523) | 464) |
| Operating revenue | 2,346) | 1,963) | 2,121) | 2,171) | 2,069) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 27.41% | 25.83% | 25.55% | 24.09% | 22.43% |
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).
1 2021 Calculation
Segment profit margin = 100 × Operating income ÷ Operating revenue
= 100 × 643 ÷ 2,346 = 27.41%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Test & Measurement and Electronics | Test & Measurement and Electronics segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: Welding
Illinois Tool Works Inc.; Welding; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 490) | 376) | 453) | 474) | 415) |
| Operating revenue | 1,650) | 1,384) | 1,638) | 1,691) | 1,538) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 29.70% | 27.17% | 27.66% | 28.03% | 26.98% |
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).
1 2021 Calculation
Segment profit margin = 100 × Operating income ÷ Operating revenue
= 100 × 490 ÷ 1,650 = 29.70%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Welding | Welding segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Profit Margin: Polymers & Fluids
Illinois Tool Works Inc.; Polymers & Fluids; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 457) | 402) | 381) | 369) | 357) |
| Operating revenue | 1,804) | 1,622) | 1,669) | 1,724) | 1,724) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 25.33% | 24.78% | 22.83% | 21.40% | 20.71% |
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).
1 2021 Calculation
Segment profit margin = 100 × Operating income ÷ Operating revenue
= 100 × 457 ÷ 1,804 = 25.33%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Polymers & Fluids | Polymers & Fluids segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: Construction Products
Illinois Tool Works Inc.; Construction Products; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 530) | 421) | 383) | 414) | 399) |
| Operating revenue | 1,945) | 1,652) | 1,625) | 1,700) | 1,672) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 27.25% | 25.48% | 23.57% | 24.35% | 23.86% |
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).
1 2021 Calculation
Segment profit margin = 100 × Operating income ÷ Operating revenue
= 100 × 530 ÷ 1,945 = 27.25%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Construction Products | Construction Products segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: Specialty Products
Illinois Tool Works Inc.; Specialty Products; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 504) | 432) | 472) | 522) | 527) |
| Operating revenue | 1,854) | 1,660) | 1,825) | 1,951) | 1,938) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 27.18% | 26.02% | 25.86% | 26.76% | 27.19% |
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).
1 2021 Calculation
Segment profit margin = 100 × Operating income ÷ Operating revenue
= 100 × 504 ÷ 1,854 = 27.18%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Specialty Products | Specialty Products segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Return on Assets (Segment ROA)
Illinois Tool Works Inc., ROA by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Automotive OEM | 24.12% | 19.85% | 27.27% | 31.45% | 31.10% |
| Food Equipment | 44.58% | 34.79% | 55.47% | 56.13% | 52.75% |
| Test & Measurement and Electronics | 19.83% | 22.64% | 22.83% | 22.32% | 18.95% |
| Welding | 62.50% | 53.71% | 61.72% | 60.08% | 54.89% |
| Polymers & Fluids | 24.30% | 21.67% | 20.46% | 19.00% | 17.27% |
| Construction Products | 38.77% | 33.98% | 32.57% | 35.48% | 33.36% |
| Specialty Products | 29.96% | 26.42% | 28.50% | 30.94% | 30.62% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Automotive OEM | Automotive OEM segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Food Equipment | Food Equipment segment ROA deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. | |
| Test & Measurement and Electronics | Test & Measurement and Electronics segment ROA deteriorated from 2019 to 2020 and from 2020 to 2021. | |
| Welding | Welding segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. | |
| Polymers & Fluids | Polymers & Fluids segment ROA improved from 2019 to 2020 and from 2020 to 2021. | |
| Construction Products | Construction Products segment ROA improved from 2019 to 2020 and from 2020 to 2021. | |
| Specialty Products | Specialty Products segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment ROA: Automotive OEM
Illinois Tool Works Inc.; Automotive OEM; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 545) | 457) | 659) | 751) | 747) |
| Identifiable assets | 2,260) | 2,302) | 2,417) | 2,388) | 2,402) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 24.12% | 19.85% | 27.27% | 31.45% | 31.10% |
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).
1 2021 Calculation
Segment ROA = 100 × Operating income ÷ Identifiable assets
= 100 × 545 ÷ 2,260 = 24.12%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Automotive OEM | Automotive OEM segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Segment ROA: Food Equipment
Illinois Tool Works Inc.; Food Equipment; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 469) | 342) | 578) | 572) | 556) |
| Identifiable assets | 1,052) | 983) | 1,042) | 1,019) | 1,054) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 44.58% | 34.79% | 55.47% | 56.13% | 52.75% |
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).
1 2021 Calculation
Segment ROA = 100 × Operating income ÷ Identifiable assets
= 100 × 469 ÷ 1,052 = 44.58%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Food Equipment | Food Equipment segment ROA deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Segment ROA: Test & Measurement and Electronics
Illinois Tool Works Inc.; Test & Measurement and Electronics; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 643) | 507) | 542) | 523) | 464) |
| Identifiable assets | 3,242) | 2,239) | 2,374) | 2,343) | 2,449) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 19.83% | 22.64% | 22.83% | 22.32% | 18.95% |
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).
1 2021 Calculation
Segment ROA = 100 × Operating income ÷ Identifiable assets
= 100 × 643 ÷ 3,242 = 19.83%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Test & Measurement and Electronics | Test & Measurement and Electronics segment ROA deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment ROA: Welding
Illinois Tool Works Inc.; Welding; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 490) | 376) | 453) | 474) | 415) |
| Identifiable assets | 784) | 700) | 734) | 789) | 756) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 62.50% | 53.71% | 61.72% | 60.08% | 54.89% |
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).
1 2021 Calculation
Segment ROA = 100 × Operating income ÷ Identifiable assets
= 100 × 490 ÷ 784 = 62.50%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Welding | Welding segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment ROA: Polymers & Fluids
Illinois Tool Works Inc.; Polymers & Fluids; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 457) | 402) | 381) | 369) | 357) |
| Identifiable assets | 1,881) | 1,855) | 1,862) | 1,942) | 2,067) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 24.30% | 21.67% | 20.46% | 19.00% | 17.27% |
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).
1 2021 Calculation
Segment ROA = 100 × Operating income ÷ Identifiable assets
= 100 × 457 ÷ 1,881 = 24.30%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Polymers & Fluids | Polymers & Fluids segment ROA improved from 2019 to 2020 and from 2020 to 2021. |
Segment ROA: Construction Products
Illinois Tool Works Inc.; Construction Products; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 530) | 421) | 383) | 414) | 399) |
| Identifiable assets | 1,367) | 1,239) | 1,176) | 1,167) | 1,196) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 38.77% | 33.98% | 32.57% | 35.48% | 33.36% |
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).
1 2021 Calculation
Segment ROA = 100 × Operating income ÷ Identifiable assets
= 100 × 530 ÷ 1,367 = 38.77%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Construction Products | Construction Products segment ROA improved from 2019 to 2020 and from 2020 to 2021. |
Segment ROA: Specialty Products
Illinois Tool Works Inc.; Specialty Products; segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 504) | 432) | 472) | 522) | 527) |
| Identifiable assets | 1,682) | 1,635) | 1,656) | 1,687) | 1,721) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 29.96% | 26.42% | 28.50% | 30.94% | 30.62% |
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).
1 2021 Calculation
Segment ROA = 100 × Operating income ÷ Identifiable assets
= 100 × 504 ÷ 1,682 = 29.96%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Specialty Products | Specialty Products segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Asset Turnover
Illinois Tool Works Inc., asset turnover by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Automotive OEM | 1.24 | 1.12 | 1.27 | 1.40 | 1.36 |
| Food Equipment | 1.98 | 1.77 | 2.10 | 2.17 | 2.01 |
| Test & Measurement and Electronics | 0.72 | 0.88 | 0.89 | 0.93 | 0.84 |
| Welding | 2.10 | 1.98 | 2.23 | 2.14 | 2.03 |
| Polymers & Fluids | 0.96 | 0.87 | 0.90 | 0.89 | 0.83 |
| Construction Products | 1.42 | 1.33 | 1.38 | 1.46 | 1.40 |
| Specialty Products | 1.10 | 1.02 | 1.10 | 1.16 | 1.13 |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Automotive OEM | Automotive OEM segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Food Equipment | Food Equipment segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. | |
| Test & Measurement and Electronics | Test & Measurement and Electronics segment asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021. | |
| Welding | Welding segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. | |
| Polymers & Fluids | Polymers & Fluids segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. | |
| Construction Products | Construction Products segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. | |
| Specialty Products | Specialty Products segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Asset Turnover: Automotive OEM
Illinois Tool Works Inc.; Automotive OEM; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating revenue | 2,800) | 2,571) | 3,063) | 3,338) | 3,271) |
| Identifiable assets | 2,260) | 2,302) | 2,417) | 2,388) | 2,402) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.24 | 1.12 | 1.27 | 1.40 | 1.36 |
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).
1 2021 Calculation
Segment asset turnover = Operating revenue ÷ Identifiable assets
= 2,800 ÷ 2,260 = 1.24
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Automotive OEM | Automotive OEM segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Segment Asset Turnover: Food Equipment
Illinois Tool Works Inc.; Food Equipment; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating revenue | 2,078) | 1,739) | 2,188) | 2,214) | 2,123) |
| Identifiable assets | 1,052) | 983) | 1,042) | 1,019) | 1,054) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.98 | 1.77 | 2.10 | 2.17 | 2.01 |
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).
1 2021 Calculation
Segment asset turnover = Operating revenue ÷ Identifiable assets
= 2,078 ÷ 1,052 = 1.98
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Food Equipment | Food Equipment segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Segment Asset Turnover: Test & Measurement and Electronics
Illinois Tool Works Inc.; Test & Measurement and Electronics; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating revenue | 2,346) | 1,963) | 2,121) | 2,171) | 2,069) |
| Identifiable assets | 3,242) | 2,239) | 2,374) | 2,343) | 2,449) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.72 | 0.88 | 0.89 | 0.93 | 0.84 |
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).
1 2021 Calculation
Segment asset turnover = Operating revenue ÷ Identifiable assets
= 2,346 ÷ 3,242 = 0.72
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Test & Measurement and Electronics | Test & Measurement and Electronics segment asset turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Asset Turnover: Welding
Illinois Tool Works Inc.; Welding; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating revenue | 1,650) | 1,384) | 1,638) | 1,691) | 1,538) |
| Identifiable assets | 784) | 700) | 734) | 789) | 756) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 2.10 | 1.98 | 2.23 | 2.14 | 2.03 |
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).
1 2021 Calculation
Segment asset turnover = Operating revenue ÷ Identifiable assets
= 1,650 ÷ 784 = 2.10
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Welding | Welding segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Segment Asset Turnover: Polymers & Fluids
Illinois Tool Works Inc.; Polymers & Fluids; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating revenue | 1,804) | 1,622) | 1,669) | 1,724) | 1,724) |
| Identifiable assets | 1,881) | 1,855) | 1,862) | 1,942) | 2,067) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.96 | 0.87 | 0.90 | 0.89 | 0.83 |
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).
1 2021 Calculation
Segment asset turnover = Operating revenue ÷ Identifiable assets
= 1,804 ÷ 1,881 = 0.96
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Polymers & Fluids | Polymers & Fluids segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Asset Turnover: Construction Products
Illinois Tool Works Inc.; Construction Products; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating revenue | 1,945) | 1,652) | 1,625) | 1,700) | 1,672) |
| Identifiable assets | 1,367) | 1,239) | 1,176) | 1,167) | 1,196) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.42 | 1.33 | 1.38 | 1.46 | 1.40 |
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).
1 2021 Calculation
Segment asset turnover = Operating revenue ÷ Identifiable assets
= 1,945 ÷ 1,367 = 1.42
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Construction Products | Construction Products segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Asset Turnover: Specialty Products
Illinois Tool Works Inc.; Specialty Products; segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating revenue | 1,854) | 1,660) | 1,825) | 1,951) | 1,938) |
| Identifiable assets | 1,682) | 1,635) | 1,656) | 1,687) | 1,721) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.10 | 1.02 | 1.10 | 1.16 | 1.13 |
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).
1 2021 Calculation
Segment asset turnover = Operating revenue ÷ Identifiable assets
= 1,854 ÷ 1,682 = 1.10
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Specialty Products | Specialty Products segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Capital Expenditures to Depreciation
Illinois Tool Works Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Automotive OEM | 0.91 | 0.60 | 1.07 | 1.50 | 1.32 |
| Food Equipment | 0.71 | 0.83 | 0.85 | 0.64 | 0.60 |
| Test & Measurement and Electronics | 0.56 | 0.31 | 0.38 | 0.35 | 0.25 |
| Welding | 1.04 | 1.13 | 1.08 | 0.85 | 0.61 |
| Polymers & Fluids | 0.24 | 0.22 | 0.23 | 0.18 | 0.18 |
| Construction Products | 0.94 | 0.68 | 1.00 | 0.78 | 0.67 |
| Specialty Products | 0.76 | 0.68 | 0.95 | 0.91 | 0.70 |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Automotive OEM | Automotive OEM segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Food Equipment | Food Equipment segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 and from 2020 to 2021. | |
| Test & Measurement and Electronics | Test & Measurement and Electronics segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. | |
| Welding | Welding segment capital expenditures to depreciation ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. | |
| Polymers & Fluids | Polymers & Fluids segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. | |
| Construction Products | Construction Products segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. | |
| Specialty Products | Specialty Products segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Segment Capital Expenditures to Depreciation: Automotive OEM
Illinois Tool Works Inc.; Automotive OEM; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Plant and equipment additions | 116) | 79) | 134) | 184) | 147) |
| Depreciation and amortization and impairment of intangible assets | 128) | 131) | 125) | 123) | 111) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.91 | 0.60 | 1.07 | 1.50 | 1.32 |
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).
1 2021 Calculation
Segment capital expenditures to depreciation = Plant and equipment additions ÷ Depreciation and amortization and impairment of intangible assets
= 116 ÷ 128 = 0.91
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Automotive OEM | Automotive OEM segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Segment Capital Expenditures to Depreciation: Food Equipment
Illinois Tool Works Inc.; Food Equipment; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Plant and equipment additions | 30) | 34) | 35) | 28) | 27) |
| Depreciation and amortization and impairment of intangible assets | 42) | 41) | 41) | 44) | 45) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.71 | 0.83 | 0.85 | 0.64 | 0.60 |
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).
1 2021 Calculation
Segment capital expenditures to depreciation = Plant and equipment additions ÷ Depreciation and amortization and impairment of intangible assets
= 30 ÷ 42 = 0.71
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Food Equipment | Food Equipment segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Capital Expenditures to Depreciation: Test & Measurement and Electronics
Illinois Tool Works Inc.; Test & Measurement and Electronics; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Plant and equipment additions | 37) | 23) | 26) | 31) | 23) |
| Depreciation and amortization and impairment of intangible assets | 66) | 75) | 69) | 88) | 92) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.56 | 0.31 | 0.38 | 0.35 | 0.25 |
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).
1 2021 Calculation
Segment capital expenditures to depreciation = Plant and equipment additions ÷ Depreciation and amortization and impairment of intangible assets
= 37 ÷ 66 = 0.56
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Test & Measurement and Electronics | Test & Measurement and Electronics segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Capital Expenditures to Depreciation: Welding
Illinois Tool Works Inc.; Welding; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Plant and equipment additions | 27) | 27) | 28) | 23) | 17) |
| Depreciation and amortization and impairment of intangible assets | 26) | 24) | 26) | 27) | 28) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.04 | 1.13 | 1.08 | 0.85 | 0.61 |
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).
1 2021 Calculation
Segment capital expenditures to depreciation = Plant and equipment additions ÷ Depreciation and amortization and impairment of intangible assets
= 27 ÷ 26 = 1.04
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Welding | Welding segment capital expenditures to depreciation ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Segment Capital Expenditures to Depreciation: Polymers & Fluids
Illinois Tool Works Inc.; Polymers & Fluids; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Plant and equipment additions | 15) | 16) | 18) | 15) | 16) |
| Depreciation and amortization and impairment of intangible assets | 62) | 72) | 77) | 83) | 89) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.24 | 0.22 | 0.23 | 0.18 | 0.18 |
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).
1 2021 Calculation
Segment capital expenditures to depreciation = Plant and equipment additions ÷ Depreciation and amortization and impairment of intangible assets
= 15 ÷ 62 = 0.24
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Polymers & Fluids | Polymers & Fluids segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Capital Expenditures to Depreciation: Construction Products
Illinois Tool Works Inc.; Construction Products; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Plant and equipment additions | 30) | 21) | 29) | 25) | 22) |
| Depreciation and amortization and impairment of intangible assets | 32) | 31) | 29) | 32) | 33) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.94 | 0.68 | 1.00 | 0.78 | 0.67 |
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).
1 2021 Calculation
Segment capital expenditures to depreciation = Plant and equipment additions ÷ Depreciation and amortization and impairment of intangible assets
= 30 ÷ 32 = 0.94
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Construction Products | Construction Products segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Segment Capital Expenditures to Depreciation: Specialty Products
Illinois Tool Works Inc.; Specialty Products; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Plant and equipment additions | 41) | 36) | 56) | 58) | 45) |
| Depreciation and amortization and impairment of intangible assets | 54) | 53) | 59) | 64) | 64) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.76 | 0.68 | 0.95 | 0.91 | 0.70 |
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).
1 2021 Calculation
Segment capital expenditures to depreciation = Plant and equipment additions ÷ Depreciation and amortization and impairment of intangible assets
= 41 ÷ 54 = 0.76
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Specialty Products | Specialty Products segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Operating revenue
Illinois Tool Works Inc., operating revenue by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Automotive OEM | 2,800) | 2,571) | 3,063) | 3,338) | 3,271) |
| Food Equipment | 2,078) | 1,739) | 2,188) | 2,214) | 2,123) |
| Test & Measurement and Electronics | 2,346) | 1,963) | 2,121) | 2,171) | 2,069) |
| Welding | 1,650) | 1,384) | 1,638) | 1,691) | 1,538) |
| Polymers & Fluids | 1,804) | 1,622) | 1,669) | 1,724) | 1,724) |
| Construction Products | 1,945) | 1,652) | 1,625) | 1,700) | 1,672) |
| Specialty Products | 1,854) | 1,660) | 1,825) | 1,951) | 1,938) |
| Intersegment revenue | (22) | (17) | (20) | (21) | (21) |
| Total | 14,455) | 12,574) | 14,109) | 14,768) | 14,314) |
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).
Operating income
Illinois Tool Works Inc., operating income by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Automotive OEM | 545) | 457) | 659) | 751) | 747) |
| Food Equipment | 469) | 342) | 578) | 572) | 556) |
| Test & Measurement and Electronics | 643) | 507) | 542) | 523) | 464) |
| Welding | 490) | 376) | 453) | 474) | 415) |
| Polymers & Fluids | 457) | 402) | 381) | 369) | 357) |
| Construction Products | 530) | 421) | 383) | 414) | 399) |
| Specialty Products | 504) | 432) | 472) | 522) | 527) |
| Unallocated | (161) | (55) | (66) | (41) | 29) |
| Total | 3,477) | 2,882) | 3,402) | 3,584) | 3,494) |
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).
Depreciation and amortization and impairment of intangible assets
Illinois Tool Works Inc., depreciation and amortization and impairment of intangible assets by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Automotive OEM | 128) | 131) | 125) | 123) | 111) |
| Food Equipment | 42) | 41) | 41) | 44) | 45) |
| Test & Measurement and Electronics | 66) | 75) | 69) | 88) | 92) |
| Welding | 26) | 24) | 26) | 27) | 28) |
| Polymers & Fluids | 62) | 72) | 77) | 83) | 89) |
| Construction Products | 32) | 31) | 29) | 32) | 33) |
| Specialty Products | 54) | 53) | 59) | 64) | 64) |
| Total | 410) | 427) | 426) | 461) | 462) |
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).
Plant and equipment additions
Illinois Tool Works Inc., plant and equipment additions by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Automotive OEM | 116) | 79) | 134) | 184) | 147) |
| Food Equipment | 30) | 34) | 35) | 28) | 27) |
| Test & Measurement and Electronics | 37) | 23) | 26) | 31) | 23) |
| Welding | 27) | 27) | 28) | 23) | 17) |
| Polymers & Fluids | 15) | 16) | 18) | 15) | 16) |
| Construction Products | 30) | 21) | 29) | 25) | 22) |
| Specialty Products | 41) | 36) | 56) | 58) | 45) |
| Total | 296) | 236) | 326) | 364) | 297) |
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).
Identifiable assets
Illinois Tool Works Inc., identifiable assets by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Automotive OEM | 2,260) | 2,302) | 2,417) | 2,388) | 2,402) |
| Food Equipment | 1,052) | 983) | 1,042) | 1,019) | 1,054) |
| Test & Measurement and Electronics | 3,242) | 2,239) | 2,374) | 2,343) | 2,449) |
| Welding | 784) | 700) | 734) | 789) | 756) |
| Polymers & Fluids | 1,881) | 1,855) | 1,862) | 1,942) | 2,067) |
| Construction Products | 1,367) | 1,239) | 1,176) | 1,167) | 1,196) |
| Specialty Products | 1,682) | 1,635) | 1,656) | 1,687) | 1,721) |
| Corporate | 3,809) | 4,659) | 3,807) | 3,535) | 5,135) |
| Total | 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).