Illinois Tool Works Inc. manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses. The Food Equipment segment provides warewashing, refrigeration, cooking, and food processing equipment; kitchen exhaust, ventilation, and pollution control systems; and food equipment maintenance and repair services. The Test & Measurement and Electronics segment produces and sells equipment, consumables, and related software for testing and measuring of materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics. The Welding segment produces arc welding equipment; and metal arc welding consumables and related accessories. The Polymers & Fluids segment produces adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance. The Construction Products segment offers engineered fastening systems and solutions for the residential construction, renovation/remodel, and commercial construction markets. The Specialty Products segment offers beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners. It serves the automotive OEM/tiers, commercial food equipment, construction, general industrial, and automotive aftermarket end markets. The company distributes its products directly to industrial manufacturers, as well as through independent distributors. Illinois Tool Works Inc. was founded in 1912 and is based in Glenview, Illinois.

Illinois Tool Works Inc.

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Assets	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Cash and Cash Equivalents	788	948	862	1,065	922	708
Cash and Equivalents
Total Cash and Cash Equivalents	788	948	862	1,065	922	708
Accounts Receivable	3,320	2,991	3,250	3,123	3,216	3,171
Trade Receivables
Total Trade Receivables	3,320	2,991	3,250	3,123	3,216	3,171
Inventories	1,710	1,605	1,819	1,707	1,921	2,054
Inventories
Other Current Assets	416	312	325	340	345	337
Deferred Income Taxes
Prepaid Expenses and Other Current Assets
Assets Held for Sale
Total Current Assets	6,234	5,856	6,256	6,235	6,404	6,270
Total Current Assets
Net Property, Plant & Equipment	2,177	2,036	2,011	1,976	1,901	1,848
Net Plant and Equipment
Net Intangible Assets	558	592	641	657	708	768
Intangible Assets
Goodwill	5,038	4,839	4,910	4,909	4,887	4,864
Goodwill
Other Long-Term Assets	2,041	1,744	1,759	1,741	1,752	1,672
Deferred Income Taxes
Other Assets
Total Assets	16,048	15,067	15,577	15,518	15,652	15,422
Total Assets

Liabilities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Accounts Payable	613	519	576	581	590	594
Accounts Payable
Accrued Expenses	1,544	1,576	1,615	1,663	1,625	1,728
Accrued Expenses
Short-Term Debt	1,242	1,555	2,044	1,825	1,275	1,590
Short-Term Debt
Other Current Liabilities	533	658	569	606	550	548
Cash Dividends Payable
Income Taxes Payable
Deferred Income Taxes
Liabilities Held for Sale
Total Current Liabilities	3,932	4,308	4,804	4,675	4,040	4,460
Total Current Liabilities
Long-Term Debt	7,695	6,308	6,429	6,339	6,947	6,173
Long-Term Debt
Other Long-Term Liabilities	1,210	1,134	1,382	1,491	1,571	1,700
Deferred Income Taxes
Noncurrent Income Taxes Payable
Other Liabilities
Total Long-Term Liabilities	8,905	7,442	7,811	7,830	8,518	7,873
Total Noncurrent Liabilities
Total Liabilities	12,837	11,750	12,615	12,505	12,558	12,333

Equity	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Common Stock	6	6	6	6	6	6
Common Stock
Treasury Stock	-26,124	-25,375	-24,622	-23,870	-23,116	-22,377
Common Stock Held in Treasury
Additional Paid-in Capital	1,725	1,669	1,636	1,588	1,550	1,501
Additional Paid-in-Capital
Accumulated Other Comprehensive Income	-1,868	-1,877	-1,925	-1,834	-1,820	-1,841
Accumulated Other Comprehensive Income (Loss)
Retained Earnings	29,471	28,893	27,866	27,122	26,473	25,799
Retained Earnings
Total Common Shareholders' Equity	3,210	3,316	2,961	3,012	3,093	3,088
Minority Interests and Other	1	1	1	1	1	1
Noncontrolling Interest
Total Shareholders' Equity	3,211	3,317	2,962	3,013	3,094	3,089
Total Stockholders' Equity
Total Liabilities and Shareholders' Equity	16,048	15,067	15,577	15,518	15,652	15,422
Total Liabilities and Stockholders' Equity