{ "ticker": "ITW", "cik": "0000049826", "company": "Illinois Tool Works Inc.", "business_type": "industrial", "schema_template": "standard industrial: operating revenue, cost of revenue, gross profit, operating expenses as the statement prints them, operating income, interest, pre-tax income, taxes, net income, EPS and weighted shares; full balance sheet with total debt and shares outstanding; operating, investing and financing cash flow with capital expenditures, free cash flow, dividends and buybacks; and operating revenue and operating income for ITW's seven reportable segments", "reporting_currency": "USD", "converted_to_usd": false, "units": "actual US dollars (not millions); per-share amounts in dollars; share counts in actual shares. Cash outflows (capital expenditures, acquisitions, dividends paid, share repurchases) and interest expense are stored as positive amounts; net investing and financing cash flows keep the sign the statement prints.", "units_notes_seen": { "FY2025 10-K Statement of Income": "In millions except per share amounts", "FY2025 10-K Statement of Financial Position": "In millions except per share amounts (share counts in the common stock caption are in millions)", "FY2025 10-K Statement of Changes in Stockholders' Equity": "In millions except per share amounts", "FY2025 10-K Statement of Cash Flows": "In millions", "FY2025 10-K Note 7, Net Income Per Share": "In millions except per share amounts", "FY2025 10-K segment note": "In millions", "FY2025 10-K MD&A free cash flow and total debt tables": "In millions", "Q2 2026 10-Q Statement of Income": "In millions except per share amounts", "Q2 2026 10-Q Statement of Financial Position": "In millions except per share amounts (share counts in the common stock caption are in millions)", "Q2 2026 10-Q Statement of Changes in Stockholders' Equity": "In millions except per share amounts", "Q2 2026 10-Q Statement of Cash Flows (six months only)": "In millions", "Q2 2026 10-Q Note 10, Segment Information": "In millions", "Q2 2026 10-Q MD&A free cash flow table (three and six months)": "In millions", "Q2 2026 10-Q Note 8, Debt": "In millions" }, "adjustments": { "splits_applied": [], "adr_ratio": null, "fx": "none; Illinois Tool Works reports in US dollars" }, "annual": [ { "fiscal_year": 2025, "label": "FY2025", "period_start": "2025-01-01", "period_end": "2025-12-31", "period_type": "fiscal year", "source_accession": "0000049826-26-000008", "income_statement": { "revenue": 16044000000, "cost_of_revenue": 8969000000, "selling_administrative_and_research_and_development_expenses": 2779000000, "amortization_and_impairment_of_intangible_assets": 80000000, "operating_income": 4216000000, "interest_expense": 292000000, "other_income_expense": 42000000, "income_before_taxes": 3966000000, "income_taxes": 900000000, "net_income": 3066000000, "gross_profit": 7075000000, "basic_eps": 10.52, "diluted_eps": 10.49, "basic_shares": 291500000, "diluted_shares": 292300000 }, "balance_sheet": { "cash_and_equivalents": 851000000, "trade_receivables": 3227000000, "inventories": 1659000000, "prepaid_expenses_and_other_current_assets": 463000000, "total_current_assets": 6200000000, "net_plant_and_equipment": 2230000000, "goodwill": 5098000000, "intangible_assets": 591000000, "deferred_income_tax_assets": 519000000, "other_assets": 1510000000, "total_assets": 16148000000, "short_term_debt": 2286000000, "accounts_payable": 522000000, "accrued_expenses": 1636000000, "cash_dividends_payable": 465000000, "income_taxes_payable": 217000000, "total_current_liabilities": 5126000000, "long_term_debt": 6683000000, "deferred_income_tax_liabilities": 154000000, "other_liabilities": 959000000, "total_noncurrent_liabilities": 7796000000, "additional_paid_in_capital": 1771000000, "retained_earnings": 30150000000, "common_stock_held_in_treasury": -26875000000, "accumulated_other_comprehensive_income_loss": -1827000000, "noncontrolling_interest": 1000000, "total_stockholders_equity": 3226000000, "common_stock": 6000000, "total_liabilities": 12922000000, "total_debt": 8969000000, "shares_outstanding": 288600000 }, "cash_flow": { "net_income": 3066000000, "depreciation": 317000000, "amortization_and_impairment_of_intangible_assets": 80000000, "stock_based_compensation_expense": 69000000, "net_cash_provided_by_operating_activities": 3126000000, "acquisition_of_businesses": 119000000, "capital_expenditures": 419000000, "net_cash_provided_by_used_for_investing_activities": -521000000, "cash_dividends_paid": 1785000000, "repurchases_of_common_stock": 1500000000, "net_proceeds_from_repayments_of_short_term_debt": 508000000, "net_cash_provided_by_used_for_financing_activities": -2744000000, "free_cash_flow": 2707000000 }, "shareholder_returns": { "dividends_declared": 1809000000, "dividends_declared_per_share": 6.22, "cash_dividends_paid": 1785000000, "repurchases_of_common_stock": 1500000000 }, "segments": { "automotive_oem": { "operating_revenue": 3288000000, "operating_income": 693000000 }, "food_equipment": { "operating_revenue": 2699000000, "operating_income": 753000000 }, "test_and_measurement_and_electronics": { "operating_revenue": 2825000000, "operating_income": 694000000 }, "welding": { "operating_revenue": 1890000000, "operating_income": 621000000 }, "polymers_and_fluids": { "operating_revenue": 1765000000, "operating_income": 493000000 }, "construction_products": { "operating_revenue": 1820000000, "operating_income": 550000000 }, "specialty_products": { "operating_revenue": 1775000000, "operating_income": 553000000 }, "total_segments_operating_revenue": 16062000000, "intersegment_revenue": -18000000, "total_segments_operating_income": 4357000000, "unallocated_operating_income": -141000000 } }, { "fiscal_year": 2024, "label": "FY2024", "period_start": "2024-01-01", "period_end": "2024-12-31", "period_type": "fiscal year", "source_accession": "0000049826-26-000008", "income_statement": { "revenue": 15898000000, "cost_of_revenue": 8858000000, "selling_administrative_and_research_and_development_expenses": 2675000000, "amortization_and_impairment_of_intangible_assets": 101000000, "operating_income": 4264000000, "interest_expense": 283000000, "other_income_expense": 441000000, "income_before_taxes": 4422000000, "income_taxes": 934000000, "net_income": 3488000000, "gross_profit": 7040000000, "basic_eps": 11.75, "diluted_eps": 11.71, "basic_shares": 296800000, "diluted_shares": 297800000 }, "balance_sheet": { "cash_and_equivalents": 948000000, "trade_receivables": 2991000000, "inventories": 1605000000, "prepaid_expenses_and_other_current_assets": 312000000, "total_current_assets": 5856000000, "net_plant_and_equipment": 2036000000, "goodwill": 4839000000, "intangible_assets": 592000000, "deferred_income_tax_assets": 369000000, "other_assets": 1375000000, "total_assets": 15067000000, "short_term_debt": 1555000000, "accounts_payable": 519000000, "accrued_expenses": 1576000000, "cash_dividends_payable": 441000000, "income_taxes_payable": 217000000, "total_current_liabilities": 4308000000, "long_term_debt": 6308000000, "deferred_income_tax_liabilities": 119000000, "other_liabilities": 1015000000, "total_noncurrent_liabilities": 7442000000, "additional_paid_in_capital": 1669000000, "retained_earnings": 28893000000, "common_stock_held_in_treasury": -25375000000, "accumulated_other_comprehensive_income_loss": -1877000000, "noncontrolling_interest": 1000000, "total_stockholders_equity": 3317000000, "common_stock": 6000000, "total_liabilities": 11750000000, "total_debt": 7863000000, "shares_outstanding": 294000000 }, "cash_flow": { "net_income": 3488000000, "depreciation": 301000000, "amortization_and_impairment_of_intangible_assets": 101000000, "stock_based_compensation_expense": 61000000, "net_cash_provided_by_operating_activities": 3281000000, "acquisition_of_businesses": 115000000, "capital_expenditures": 437000000, "net_cash_provided_by_used_for_investing_activities": -144000000, "cash_dividends_paid": 1695000000, "repurchases_of_common_stock": 1500000000, "net_proceeds_from_repayments_of_short_term_debt": 312000000, "net_cash_provided_by_used_for_financing_activities": -3189000000, "free_cash_flow": 2844000000 }, "shareholder_returns": { "dividends_declared": 1717000000, "dividends_declared_per_share": 5.8, "cash_dividends_paid": 1695000000, "repurchases_of_common_stock": 1500000000 }, "segments": { "automotive_oem": { "operating_revenue": 3188000000, "operating_income": 625000000 }, "food_equipment": { "operating_revenue": 2647000000, "operating_income": 719000000 }, "test_and_measurement_and_electronics": { "operating_revenue": 2818000000, "operating_income": 703000000 }, "welding": { "operating_revenue": 1851000000, "operating_income": 597000000 }, "polymers_and_fluids": { "operating_revenue": 1764000000, "operating_income": 484000000 }, "construction_products": { "operating_revenue": 1909000000, "operating_income": 559000000 }, "specialty_products": { "operating_revenue": 1743000000, "operating_income": 528000000 }, "total_segments_operating_revenue": 15920000000, "intersegment_revenue": -22000000, "total_segments_operating_income": 4215000000, "unallocated_operating_income": 49000000 } }, { "fiscal_year": 2023, "label": "FY2023", "period_start": "2023-01-01", "period_end": "2023-12-31", "period_type": "fiscal year", "source_accession": "0000049826-26-000008", "income_statement": { "revenue": 16107000000, "cost_of_revenue": 9316000000, "selling_administrative_and_research_and_development_expenses": 2638000000, "amortization_and_impairment_of_intangible_assets": 113000000, "operating_income": 4040000000, "interest_expense": 266000000, "other_income_expense": 49000000, "income_before_taxes": 3823000000, "income_taxes": 866000000, "net_income": 2957000000, "gross_profit": 6791000000, "basic_eps": 9.77, "diluted_eps": 9.74, "basic_shares": 302600000, "diluted_shares": 303600000 }, "cash_flow": { "net_income": 2957000000, "depreciation": 282000000, "amortization_and_impairment_of_intangible_assets": 113000000, "stock_based_compensation_expense": 69000000, "net_cash_provided_by_operating_activities": 3539000000, "acquisition_of_businesses": 0, "capital_expenditures": 455000000, "net_cash_provided_by_used_for_investing_activities": -403000000, "cash_dividends_paid": 1615000000, "repurchases_of_common_stock": 1500000000, "net_proceeds_from_repayments_of_short_term_debt": -452000000, "net_cash_provided_by_used_for_financing_activities": -2782000000, "free_cash_flow": 3084000000 }, "shareholder_returns": { "dividends_declared": 1634000000, "dividends_declared_per_share": 5.42, "cash_dividends_paid": 1615000000, "repurchases_of_common_stock": 1500000000 }, "segments": { "automotive_oem": { "operating_revenue": 3235000000, "operating_income": 561000000 }, "food_equipment": { "operating_revenue": 2622000000, "operating_income": 713000000 }, "test_and_measurement_and_electronics": { "operating_revenue": 2832000000, "operating_income": 686000000 }, "welding": { "operating_revenue": 1902000000, "operating_income": 605000000 }, "polymers_and_fluids": { "operating_revenue": 1804000000, "operating_income": 482000000 }, "construction_products": { "operating_revenue": 2033000000, "operating_income": 578000000 }, "specialty_products": { "operating_revenue": 1697000000, "operating_income": 449000000 }, "total_segments_operating_revenue": 16125000000, "intersegment_revenue": -18000000, "total_segments_operating_income": 4074000000, "unallocated_operating_income": -34000000 } } ], "quarterly": [ { "fiscal_year": 2026, "fiscal_quarter": 2, "label": "Q2 FY2026", "period_start": "2026-04-01", "period_end": "2026-06-30", "period_type": "three months", "source_accession": "0000049826-26-000049", "income_statement": { "revenue": 4301000000, "cost_of_revenue": 2403000000, "selling_administrative_and_research_and_development_expenses": 735000000, "amortization_and_impairment_of_intangible_assets": 16000000, "operating_income": 1147000000, "interest_expense": 79000000, "other_income_expense": 12000000, "income_before_taxes": 1080000000, "income_taxes": 265000000, "net_income": 815000000, "gross_profit": 1898000000, "basic_eps": 2.85, "diluted_eps": 2.84, "basic_shares": 286400000, "diluted_shares": 287000000 }, "balance_sheet": { "cash_and_equivalents": 839000000, "trade_receivables": 3564000000, "inventories": 1756000000, "prepaid_expenses_and_other_current_assets": 441000000, "total_current_assets": 6600000000, "net_plant_and_equipment": 2235000000, "goodwill": 5074000000, "intangible_assets": 558000000, "deferred_income_tax_assets": 489000000, "other_assets": 1538000000, "total_assets": 16494000000, "short_term_debt": 3145000000, "accounts_payable": 636000000, "accrued_expenses": 1592000000, "cash_dividends_payable": 457000000, "income_taxes_payable": 123000000, "total_current_liabilities": 5953000000, "long_term_debt": 6549000000, "deferred_income_tax_liabilities": 162000000, "other_liabilities": 935000000, "total_noncurrent_liabilities": 7646000000, "additional_paid_in_capital": 1838000000, "retained_earnings": 30812000000, "common_stock_held_in_treasury": -28004000000, "accumulated_other_comprehensive_income_loss": -1758000000, "noncontrolling_interest": 1000000, "total_stockholders_equity": 2895000000, "common_stock": 6000000, "total_liabilities": 13599000000, "total_debt": 9694000000, "shares_outstanding": 284800000 }, "cash_flow": { "net_cash_provided_by_operating_activities": 723000000, "capital_expenditures": 92000000, "cash_dividends_paid": 463000000, "repurchases_of_common_stock": 750000000, "free_cash_flow": 631000000 }, "shareholder_returns": { "dividends_declared": 457000000, "dividends_declared_per_share": 1.61, "cash_dividends_paid": 463000000, "repurchases_of_common_stock": 750000000 }, "segments": { "automotive_oem": { "operating_revenue": 857000000, "operating_income": 185000000 }, "food_equipment": { "operating_revenue": 692000000, "operating_income": 188000000 }, "test_and_measurement_and_electronics": { "operating_revenue": 769000000, "operating_income": 193000000 }, "welding": { "operating_revenue": 549000000, "operating_income": 178000000 }, "polymers_and_fluids": { "operating_revenue": 476000000, "operating_income": 140000000 }, "construction_products": { "operating_revenue": 494000000, "operating_income": 151000000 }, "specialty_products": { "operating_revenue": 468000000, "operating_income": 148000000 }, "total_segments_operating_revenue": 4305000000, "intersegment_revenue": -4000000, "total_segments_operating_income": 1183000000, "unallocated_operating_income": -36000000 } }, { "fiscal_year": 2025, "fiscal_quarter": 2, "label": "Q2 FY2025", "period_start": "2025-04-01", "period_end": "2025-06-30", "period_type": "three months", "source_accession": "0000049826-26-000049", "income_statement": { "revenue": 4053000000, "cost_of_revenue": 2271000000, "selling_administrative_and_research_and_development_expenses": 693000000, "amortization_and_impairment_of_intangible_assets": 21000000, "operating_income": 1068000000, "interest_expense": 74000000, "other_income_expense": 4000000, "income_before_taxes": 998000000, "income_taxes": 243000000, "net_income": 755000000, "gross_profit": 1782000000, "basic_eps": 2.58, "diluted_eps": 2.58, "basic_shares": 292300000, "diluted_shares": 292900000 }, "cash_flow": { "net_cash_provided_by_operating_activities": 550000000, "capital_expenditures": 101000000, "cash_dividends_paid": 439000000, "repurchases_of_common_stock": 375000000, "free_cash_flow": 449000000 }, "shareholder_returns": { "dividends_declared": 438000000, "dividends_declared_per_share": 1.5, "cash_dividends_paid": 439000000, "repurchases_of_common_stock": 375000000 }, "segments": { "automotive_oem": { "operating_revenue": 845000000, "operating_income": 180000000 }, "food_equipment": { "operating_revenue": 680000000, "operating_income": 189000000 }, "test_and_measurement_and_electronics": { "operating_revenue": 686000000, "operating_income": 157000000 }, "welding": { "operating_revenue": 479000000, "operating_income": 159000000 }, "polymers_and_fluids": { "operating_revenue": 438000000, "operating_income": 121000000 }, "construction_products": { "operating_revenue": 473000000, "operating_income": 145000000 }, "specialty_products": { "operating_revenue": 455000000, "operating_income": 148000000 }, "total_segments_operating_revenue": 4056000000, "intersegment_revenue": -3000000, "total_segments_operating_income": 1099000000, "unallocated_operating_income": -31000000 } } ], "year_to_date": { "fiscal_year": 2026, "label": "Six months ended June 30, 2026", "period_start": "2026-01-01", "period_end": "2026-06-30", "period_type": "six months", "source_accession": "0000049826-26-000049", "income_statement": { "revenue": 8317000000, "cost_of_revenue": 4659000000, "selling_administrative_and_research_and_development_expenses": 1457000000, "amortization_and_impairment_of_intangible_assets": 34000000, "operating_income": 2167000000, "interest_expense": 152000000, "other_income_expense": 32000000, "income_before_taxes": 2047000000, "income_taxes": 464000000, "net_income": 1583000000, "gross_profit": 3658000000, "basic_eps": 5.51, "diluted_eps": 5.5, "basic_shares": 287300000, "diluted_shares": 288100000 }, "cash_flow": { "net_income": 1583000000, "depreciation": 163000000, "amortization_and_impairment_of_intangible_assets": 34000000, "stock_based_compensation_expense": 40000000, "net_cash_provided_by_operating_activities": 1346000000, "acquisition_of_businesses": 0, "capital_expenditures": 187000000, "net_cash_provided_by_used_for_investing_activities": -184000000, "cash_dividends_paid": 928000000, "repurchases_of_common_stock": 1125000000, "net_proceeds_from_repayments_of_short_term_debt": 855000000, "net_cash_provided_by_used_for_financing_activities": -1179000000, "free_cash_flow": 1159000000 }, "shareholder_returns": { "dividends_declared": 921000000, "dividends_declared_per_share": 3.22, "cash_dividends_paid": 928000000, "repurchases_of_common_stock": 1125000000 }, "segments": { "automotive_oem": { "operating_revenue": 1677000000, "operating_income": 358000000 }, "food_equipment": { "operating_revenue": 1329000000, "operating_income": 345000000 }, "test_and_measurement_and_electronics": { "operating_revenue": 1484000000, "operating_income": 357000000 }, "welding": { "operating_revenue": 1056000000, "operating_income": 341000000 }, "polymers_and_fluids": { "operating_revenue": 928000000, "operating_income": 266000000 }, "construction_products": { "operating_revenue": 952000000, "operating_income": 286000000 }, "specialty_products": { "operating_revenue": 899000000, "operating_income": 283000000 }, "total_segments_operating_revenue": 8325000000, "intersegment_revenue": -8000000, "total_segments_operating_income": 2236000000, "unallocated_operating_income": -69000000 }, "prior_year_comparative": { "fiscal_year": 2025, "label": "Six months ended June 30, 2025", "period_start": "2025-01-01", "period_end": "2025-06-30", "period_type": "six months", "source_accession": "0000049826-26-000049", "income_statement": { "revenue": 7892000000, "cost_of_revenue": 4432000000, "selling_administrative_and_research_and_development_expenses": 1399000000, "amortization_and_impairment_of_intangible_assets": 42000000, "operating_income": 2019000000, "interest_expense": 142000000, "other_income_expense": 16000000, "income_before_taxes": 1893000000, "income_taxes": 438000000, "net_income": 1455000000, "gross_profit": 3460000000, "basic_eps": 4.97, "diluted_eps": 4.95, "basic_shares": 292900000, "diluted_shares": 293700000 }, "cash_flow": { "net_income": 1455000000, "depreciation": 152000000, "amortization_and_impairment_of_intangible_assets": 42000000, "stock_based_compensation_expense": 35000000, "net_cash_provided_by_operating_activities": 1142000000, "acquisition_of_businesses": -1000000, "capital_expenditures": 197000000, "net_cash_provided_by_used_for_investing_activities": -184000000, "cash_dividends_paid": 880000000, "repurchases_of_common_stock": 750000000, "net_proceeds_from_repayments_of_short_term_debt": 464000000, "net_cash_provided_by_used_for_financing_activities": -1151000000, "free_cash_flow": 945000000 }, "shareholder_returns": { "dividends_declared": 877000000, "dividends_declared_per_share": 3.0, "cash_dividends_paid": 880000000, "repurchases_of_common_stock": 750000000 }, "segments": { "automotive_oem": { "operating_revenue": 1631000000, "operating_income": 331000000 }, "food_equipment": { "operating_revenue": 1307000000, "operating_income": 355000000 }, "test_and_measurement_and_electronics": { "operating_revenue": 1338000000, "operating_income": 296000000 }, "welding": { "operating_revenue": 951000000, "operating_income": 312000000 }, "polymers_and_fluids": { "operating_revenue": 867000000, "operating_income": 235000000 }, "construction_products": { "operating_revenue": 916000000, "operating_income": 275000000 }, "specialty_products": { "operating_revenue": 890000000, "operating_income": 283000000 }, "total_segments_operating_revenue": 7900000000, "intersegment_revenue": -8000000, "total_segments_operating_income": 2087000000, "unallocated_operating_income": -68000000 } } }, "trailing_twelve_months": { "label": "Twelve months ended June 30, 2026", "period_start": "2025-07-01", "period_end": "2026-06-30", "period_type": "trailing twelve months", "source_accession": "0000049826-26-000049", "derived_from_accessions": [ "0000049826-26-000008", "0000049826-26-000049" ], "income_statement": { "revenue": 16469000000, "cost_of_revenue": 9196000000, "gross_profit": 7273000000, "selling_administrative_and_research_and_development_expenses": 2837000000, "amortization_and_impairment_of_intangible_assets": 72000000, "operating_income": 4364000000, "interest_expense": 302000000, "other_income_expense": 58000000, "income_before_taxes": 4120000000, "income_taxes": 926000000, "net_income": 3194000000 }, "cash_flow": { "net_cash_provided_by_operating_activities": 3330000000, "capital_expenditures": 409000000, "cash_dividends_paid": 1833000000, "repurchases_of_common_stock": 1875000000, "free_cash_flow": 2921000000 } }, "notes": [ "Sources: the annual figures for 2023, 2024 and 2025 come from Illinois Tool Works' FY2025 Form 10-K (accession 0000049826-26-000008); the second-quarter and six-month figures for 2026 and 2025, and the June 30, 2026 balance sheet, come from the Q2 2026 Form 10-Q (accession 0000049826-26-000049). The 10-K prints balance sheets only for December 31, 2025 and 2024, so FY2023 carries no balance sheet; the 10-Q prints no June 30, 2025 balance sheet, so the Q2 FY2025 quarter carries none either.", "Template: a standard industrial layout, because ITW is a diversified manufacturer of industrial products and equipment organised into seven reportable segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.", "ITW calls its top line \"Operating Revenue\"; it is recorded here as revenue. ITW does not print a gross profit line; gross_profit is operating revenue less cost of revenue, computed from the printed figures.", "ITW's balance sheet prints total current and total noncurrent liabilities but no total; total_liabilities is their sum. total_debt is short-term plus long-term debt and equals the total debt each filing prints in its debt table ($8,969 million at December 31, 2025; $9,694 million at June 30, 2026). shares_outstanding is the count printed in the balance sheet's common stock caption (288.6 million at December 31, 2025; 294.0 million at December 31, 2024; 284.8 million at June 30, 2026). Total stockholders' equity includes a $1 million noncontrolling interest.", "The 10-Q's statement of cash flows covers the six months only. The three-month operating cash flow, additions to plant and equipment, free cash flow, dividends paid and share repurchases for the second quarters of 2026 and 2025 are the figures printed in the same 10-Q's management's discussion (Cash Flow section), which also prints the six-month columns that match the cash flow statement.", "Free cash flow is ITW's own non-GAAP measure: net cash provided by operating activities less additions to plant and equipment. Every free cash flow figure here equals the amount ITW prints for that period.", "The trailing-twelve-months view (July 1, 2025 to June 30, 2026) is computed as FY2025 plus the first six months of 2026 less the first six months of 2025. Per-share figures are not computed for it.", "The 10-Q does not present the first quarter of 2026 as a separate column, so no Q1 FY2026 quarter is included here.", "FY2024 other income (expense) of $441 million includes a $363 million gain on the sale of ITW's noncontrolling interest in Wilsonart International Holdings LLC, as the FY2025 10-K's cash flow statement shows. FY2023 and FY2025 other income (expense) was $49 million and $42 million.", "The 10-Q states that certain prior-year data were reclassified to conform with current-year reporting; the 2025 comparative quarter and six months are recorded as the Q2 2026 10-Q presents them.", "Interest expense, capital expenditures, acquisitions, dividends and share repurchases are stored as positive amounts although the statements print them in parentheses. Dividends declared and dividends per share come from the statement of changes in stockholders' equity." ], "uncertainties": [ "Six-month 2026 diluted EPS is recorded as printed ($5.50). Dividing the printed six-month net income ($1,583 million) by the printed diluted share count (288.1 million) gives about $5.49; the filing does not explain the one-cent difference." ], "headline": { "period": "Q2 FY2026", "period_end_words": "June 30, 2026", "metrics": [ { "label": "Revenue", "format": "usd", "value": 4301000000, "text": "$4.30 billion", "exact": "$4,301,000,000", "compact": "$4.30B", "abs": "$4.30 billion", "prior_value": 4053000000, "prior": "$4.05 billion", "priorabs": "$4.05 billion", "yoy": "up 6.1%", "source": { "array": "quarterly", "field": "income_statement.revenue", "index": 0, "period_label": "Q2 FY2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000049826-26-000049", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000049826-26-000049", "gap_days": 365 } }, { "label": "Net income", "format": "usd", "value": 815000000, "text": "$815 million", "exact": "$815,000,000", "compact": "$815.00M", "abs": "$815 million", "prior_value": 755000000, "prior": "$755 million", "priorabs": "$755 million", "yoy": "up 7.9%", "source": { "array": "quarterly", "field": "income_statement.net_income", "index": 0, "period_label": "Q2 FY2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000049826-26-000049", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000049826-26-000049", "gap_days": 365 } }, { "label": "Diluted EPS", "format": "eps", "value": 2.84, "text": "$2.84", "exact": "$2.84", "compact": "$2.84", "abs": "$2.84", "prior_value": 2.58, "prior": "$2.58", "priorabs": "$2.58", "yoy": "up 10.1%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 0, "period_label": "Q2 FY2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000049826-26-000049", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000049826-26-000049", "gap_days": 365 } }, { "label": "Operating income", "format": "usd", "value": 1147000000, "text": "$1.15 billion", "exact": "$1,147,000,000", "compact": "$1.15B", "abs": "$1.15 billion", "prior_value": 1068000000, "prior": "$1.07 billion", "priorabs": "$1.07 billion", "yoy": "up 7.4%", "source": { "array": "quarterly", "field": "income_statement.operating_income", "index": 0, "period_label": "Q2 FY2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000049826-26-000049", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000049826-26-000049", "gap_days": 365 } }, { "label": "Free cash flow", "format": "usd", "value": 631000000, "text": "$631 million", "exact": "$631,000,000", "compact": "$631.00M", "abs": "$631 million", "prior_value": 449000000, "prior": "$449 million", "priorabs": "$449 million", "yoy": "up 40.5%", "source": { "array": "quarterly", "field": "cash_flow.free_cash_flow", "index": 0, "period_label": "Q2 FY2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000049826-26-000049", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000049826-26-000049", "gap_days": 365 } } ], "summary": "Illinois Tool Works reported $4.30 billion in operating revenue for Q2 FY2026, the quarter ended June 30, 2026, up 6.1% from a year earlier, with net income of $815 million and diluted earnings per share of $2.84, up 10.1%. Operating income rose to $1.15 billion, up 7.4%, in what the company called the most profitable quarter in its history, as its Test & Measurement and Electronics and Welding segments led the growth. Free cash flow was $631 million, compared with $449 million a year earlier.", "qa": [ { "q": "How much revenue did Illinois Tool Works make in Q2 FY2026?", "a": "Illinois Tool Works reported operating revenue of $4.30 billion for Q2 FY2026, the quarter ended June 30, 2026. That is up 6.1% from $4.05 billion in the same quarter a year earlier." }, { "q": "What were Illinois Tool Works' earnings per share in Q2 FY2026?", "a": "Illinois Tool Works earned $2.84 per diluted share in Q2 FY2026, up 10.1% from $2.58 a year earlier, on net income of $815 million compared with $755 million." }, { "q": "What was Illinois Tool Works' operating income in Q2 FY2026?", "a": "Illinois Tool Works reported operating income of $1.15 billion for the quarter ended June 30, 2026, up 7.4% from $1.07 billion a year earlier." }, { "q": "How much free cash flow did Illinois Tool Works generate in Q2 FY2026?", "a": "Illinois Tool Works generated free cash flow of $631 million in Q2 FY2026, up 40.5% from $449 million in the same quarter a year earlier. The company defines free cash flow as net cash provided by operating activities less additions to plant and equipment." } ] }, "company_details": { "Name": "Illinois Tool Works Inc", "Ticker": "ITW", "CIK": "0000049826", "Exchange": "NYSE", "State": "Illinois", "Incorporation": "Delaware", "SIC": "3560", "Office": "Technology", "Industry": "General Industrial Machinery & Equipment" }, "next_filing": { "predicted_date": "2026-10-23", "predicted_type": "10-Q" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q2", "tag": "FY26Q2", "period_end": "2026-06-30", "form": "10-Q", "accession": "0000049826-26-000049", "fiscal_year_end": "1231", "source": "facts" }, "source_filings": [ { "role": "annual", "current": false, "form": "10-K", "fiscal_year": 2025, "fiscal_period": "FY", "tag": "FY25", "period_end": "2025-12-31", "filed": "2026-02-13", "accession": "0000049826-26-000008", "url": "https://www.sec.gov/Archives/edgar/data/49826/000004982626000008/itw-20251231.htm", "source": "reported" }, { "role": "quarterly", "current": true, "form": "10-Q", "fiscal_year": 2026, "fiscal_period": "Q2", "tag": "FY26Q2", "period_end": "2026-06-30", "filed": "2026-08-06", "accession": "0000049826-26-000049", "url": "https://www.sec.gov/Archives/edgar/data/49826/000004982626000049/itw-20260630.htm", "source": "facts" } ], "figure_sources": { "about": "Where each figure in this file is printed in its SEC filing. 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A figure with no entry is not printed in a tagged filing, either because it was calculated (margins, free cash flow, trailing twelve months, a quarter derived by subtraction) or because it comes from an untagged earnings release.", "documents": { "d1": "https://www.sec.gov/Archives/edgar/data/49826/000004982626000008/itw-20251231.htm", "d2": "https://www.sec.gov/Archives/edgar/data/49826/000004982626000049/itw-20260630.htm" }, "annual": [ { "period_end": "2025-12-31", "income_statement": { "revenue": "d1#f-71", "cost_of_revenue": "d1#f-74", "selling_administrative_and_research_and_development_expenses": "d1#f-77", "amortization_and_impairment_of_intangible_assets": "d1#f-80", "operating_income": "d1#f-83", "interest_expense": "d1#f-86", "other_income_expense": "d1#f-89", "income_before_taxes": "d1#f-92", "income_taxes": "d1#f-95", "net_income": "d1#f-98", "basic_eps": "d1#f-101", "diluted_eps": "d1#f-104", "basic_shares": "d1#f-794", "diluted_shares": "d1#f-806" }, "balance_sheet": { 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{ "automotive_oem": { "operating_revenue": "d2#f-626", "operating_income": "d2#f-730" }, "food_equipment": { "operating_revenue": "d2#f-630", "operating_income": "d2#f-734" }, "test_and_measurement_and_electronics": { "operating_revenue": "d2#f-634", "operating_income": "d2#f-738" }, "welding": { "operating_revenue": "d2#f-638", "operating_income": "d2#f-742" }, "polymers_and_fluids": { "operating_revenue": "d2#f-642", "operating_income": "d2#f-746" }, "construction_products": { "operating_revenue": "d2#f-646", "operating_income": "d2#f-750" }, "specialty_products": { "operating_revenue": "d2#f-650", "operating_income": "d2#f-754" }, "total_segments_operating_revenue": "d2#f-654", "intersegment_revenue": "d2#f-658", "total_segments_operating_income": "d2#f-758", "unallocated_operating_income": "d2#f-762" } }, { "period_end": "2025-06-30", "income_statement": { "revenue": "d2#f-53", "cost_of_revenue": "d2#f-57", "selling_administrative_and_research_and_development_expenses": "d2#f-61", "amortization_and_impairment_of_intangible_assets": "d2#f-65", "operating_income": "d2#f-69", "interest_expense": "d2#f-73", "other_income_expense": "d2#f-77", "income_before_taxes": "d2#f-81", "income_taxes": "d2#f-85", "net_income": "d2#f-89", "basic_eps": "d2#f-93", "diluted_eps": "d2#f-97", "basic_shares": "d2#f-101", "diluted_shares": "d2#f-105" }, "cash_flow": { "repurchases_of_common_stock": "d2#f-237" }, "shareholder_returns": { "dividends_declared": "d2#f-242", "dividends_declared_per_share": "d2#f-240", "repurchases_of_common_stock": "d2#f-237" }, "segments": { "automotive_oem": { "operating_revenue": "d2#f-627", "operating_income": "d2#f-731" }, "food_equipment": { "operating_revenue": "d2#f-631", "operating_income": "d2#f-735" }, "test_and_measurement_and_electronics": { "operating_revenue": "d2#f-635", "operating_income": "d2#f-739" }, "welding": { "operating_revenue": "d2#f-639", "operating_income": "d2#f-743" }, "polymers_and_fluids": { "operating_revenue": "d2#f-242", "operating_income": "d2#f-747" }, "construction_products": { "operating_revenue": "d2#f-647", "operating_income": "d2#f-751" }, "specialty_products": { "operating_revenue": "d2#f-651", "operating_income": "d2#f-755" }, "total_segments_operating_revenue": "d2#f-655", "intersegment_revenue": "d2#f-239", "total_segments_operating_income": "d2#f-759", "unallocated_operating_income": "d2#f-763" } } ] } }