Stock Analysis on Net

Illinois Tool Works Inc. (NYSE:ITW)

$17.99

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

Analysis of Reportable Segments

Microsoft Excel

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Segment Profit Margin

Illinois Tool Works Inc., profit margin by reportable segment

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Automotive OEM
Food Equipment
Test & Measurement and Electronics
Welding
Polymers & Fluids
Construction Products
Specialty Products

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Operating revenue
Segment Profitability Ratio
Segment profit margin1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Operating revenue
Segment Profitability Ratio
Segment profit margin1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Operating revenue
Segment Profitability Ratio
Segment profit margin1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Operating revenue
Segment Profitability Ratio
Segment profit margin1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Operating revenue
Segment Profitability Ratio
Segment profit margin1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Operating revenue
Segment Profitability Ratio
Segment profit margin1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Operating revenue
Segment Profitability Ratio
Segment profit margin1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Automotive OEM
Food Equipment
Test & Measurement and Electronics
Welding
Polymers & Fluids
Construction Products
Specialty Products

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Identifiable assets
Segment Profitability Ratio
Segment ROA1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Identifiable assets
Segment Profitability Ratio
Segment ROA1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Identifiable assets
Segment Profitability Ratio
Segment ROA1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Identifiable assets
Segment Profitability Ratio
Segment ROA1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Identifiable assets
Segment Profitability Ratio
Segment ROA1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Identifiable assets
Segment Profitability Ratio
Segment ROA1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating income
Identifiable assets
Segment Profitability Ratio
Segment ROA1

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 × ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Automotive OEM
Food Equipment
Test & Measurement and Electronics
Welding
Polymers & Fluids
Construction Products
Specialty Products

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating revenue
Identifiable assets
Segment Activity Ratio
Segment asset turnover1

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
= ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating revenue
Identifiable assets
Segment Activity Ratio
Segment asset turnover1

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
= ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating revenue
Identifiable assets
Segment Activity Ratio
Segment asset turnover1

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
= ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating revenue
Identifiable assets
Segment Activity Ratio
Segment asset turnover1

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
= ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating revenue
Identifiable assets
Segment Activity Ratio
Segment asset turnover1

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
= ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating revenue
Identifiable assets
Segment Activity Ratio
Segment asset turnover1

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
= ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Operating revenue
Identifiable assets
Segment Activity Ratio
Segment asset turnover1

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
= ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Automotive OEM
Food Equipment
Test & Measurement and Electronics
Welding
Polymers & Fluids
Construction Products
Specialty Products

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

Microsoft Excel
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
Depreciation and amortization and impairment of intangible assets
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
= ÷ =

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

Microsoft Excel
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
Depreciation and amortization and impairment of intangible assets
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
= ÷ =

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

Microsoft Excel
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
Depreciation and amortization and impairment of intangible assets
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
= ÷ =

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

Microsoft Excel
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
Depreciation and amortization and impairment of intangible assets
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
= ÷ =

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

Microsoft Excel
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
Depreciation and amortization and impairment of intangible assets
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
= ÷ =

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

Microsoft Excel
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
Depreciation and amortization and impairment of intangible assets
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
= ÷ =

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

Microsoft Excel
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
Depreciation and amortization and impairment of intangible assets
Segment Financial Ratio
Segment capital expenditures to depreciation1

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
= ÷ =

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Automotive OEM
Food Equipment
Test & Measurement and Electronics
Welding
Polymers & Fluids
Construction Products
Specialty Products
Intersegment revenue
Total

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Automotive OEM
Food Equipment
Test & Measurement and Electronics
Welding
Polymers & Fluids
Construction Products
Specialty Products
Unallocated
Total

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Automotive OEM
Food Equipment
Test & Measurement and Electronics
Welding
Polymers & Fluids
Construction Products
Specialty Products
Total

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Automotive OEM
Food Equipment
Test & Measurement and Electronics
Welding
Polymers & Fluids
Construction Products
Specialty Products
Total

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Automotive OEM
Food Equipment
Test & Measurement and Electronics
Welding
Polymers & Fluids
Construction Products
Specialty Products
Corporate
Total

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).