Illinois Tool Works Inc.

NYSE-ITW

Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	3,026	3,365	3,369	3,488	3,455	3,067
Net Income
Depreciation & Amortization	396	400	400	402	399	392
Depreciation
Amortization and Impairment of Intangible Assets
Stock Based Compensation	65	62	62	61	65	68
Stock-Based Compensation Expense
Other Adjustments	-37	-240.5	-231.5	-651	-259.5	-27.5
Change in Deferred Income Taxes
Net Provision for Uncollectible Accounts
Income from Investments
Gain on Sale of Plant and Equipment
Gain on Sale of Operations and Affiliates
Gain on Sale of Noncontrolling Interest in Wilsonart International Holdings LLC
Gain on Dividend Distribution from Equity Investment in Wilsonart
Cumulative Effect of Change in Inventory Accounting Method
Other Non-Cash Items, Net
Changes in Trade Receivables	-8	14	53	34	10	-64
Change in Trade Receivables
Changes in Inventories	106	153	151	176	147	213
Inventories
Changes in Accounts Payable	46	14	-1	-43	-40	-6
Accounts Payable
Changes in Accrued Expenses	-114	-117	-31	-74	-30	-59
Accrued Expenses and Other Liabilities
Changes in Income Taxes Payable	-132	-80	-55	-70	-26	-125
Income Taxes
Changes in Other Operating Activities	-72	-62	-69	-42	-33	-44.5
Prepaid Expenses and Other Assets
Other, Net
Cash from Operating Activities	3,277	3,147	3,284	3,281	3,206	3,297
Net Cash Provided by Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-432	-423	-438	-437	-450	-468
Additions to Plant and Equipment
Proceeds from Sale of Property, Plant & Equipment	—	14	13	12	19	20
Proceeds from Sale of Plant and Equipment
Proceeds from Sale of Investments	7	6.5	5.5	11	12.5	30
Proceeds from Investments
Payments for Business Acquisitions	—	—	—	-115	—	—
Acquisition of Businesses (Excluding Cash and Equivalents)
Proceeds from Business Divestments	—	—	—	395	—	—
Proceeds from Sale of Operations and Affiliates
Proceeds from Sale of Noncontrolling Interest in Wilsonart International Holdings LLC
Other Investing Activities	—	-1.5	-3	-10	-8.5	-11.5
Dividend Distribution from Equity Investment in Wilsonart
Other, Net
Cash from Investing Activities	-417	-7	-84	-144	-147	-544
Net Cash Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Short-Term Debt	1,000	642	-438	312	-284	24
Net Proceeds from Debt with Original Maturities of Three Months or Less
Net Issuance / (Repayments) of Short-Term Debt	1,000	642	-438	312	-284	24
Issuance of Long-Term Debt	—	—	—	1,606	—	—
Proceeds from Debt with Original Maturities of More Than Three Months
Repayments of Long-Term Debt	-631	-978.5	-1,541.5	-1,926	-1,611.5	-1,296.5
Repayments of Debt with Original Maturities of More Than Three Months
Net Issuance / (Repayments) of Long-Term Debt	-631	-978.5	-1,541.5	-320	-1,611.5	-1,296.5
Issuance of Common Shares	69	58	75.5	52	67.5	74.5
Issuance of Common Stock
Repurchases of Common Shares	-1,500	-1,500	-1,500	-1,500	-1,500	-1,500
Repurchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	-1,431	-1,442	-1,424.5	-1,448	-1,432.5	-1,425.5
Common Share Dividends Paid	-1,761	-1,738	-1,717	-1,695	-1,673	-1,654
Cash Dividends Paid
Other Financing Activities	-46	-21	-40	-38	-30	-24
Excess Tax Benefits from Stock-Based Compensation
Other, Net
Cash from Financing Activities	-2,869	-3,215	-3,253	-3,189	-3,123	-2,790
Net Cash Provided by Financing Activities