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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Income Statement	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Total Revenues	7,892	7,898	8,000	8,014	8,093	7,982
Total Revenues %Chg	-1.4%	-1.4%	-1.1%	0.4%	1.8%	10.3%
Operating Revenue
Cost of Sales	4,432	4,451	4,407	4,631	4,685	4,680
Cost of Revenue
Gross Profit	3,460	3,447	3,593	3,383	3,408	3,302
Gross Profit Margin	43.8%	43.6%	44.9%	42.2%	42.1%	41.4%
Selling, General & Administrative Expenses	1,399	1,313	1,362	1,273	1,365	1,268
Selling, Administrative, and Research and Development Expenses
Depreciation & Amortization Expenses	42	51	50	52	61	65
Amortization and Impairment of Intangible Assets
Other Operating Expenses	—	—	—	—	—	—
Legal Settlement
Operating Profit	2,019	2,083	2,181	2,058	1,982	1,969
Operating Margin	25.6%	26.4%	27.3%	25.7%	24.5%	24.7%
Interest Expense	-142	-137	-146	-137	-129	-108
Interest Expense
Non-Operating Income	16	399	42	19	30	217
Other Income
Total Non-Operating Income	-126	262	-104	-118	-99	109
Income Before Provision for Income Taxes	1,893	2,345	2,077	1,940	1,883	2,078
Provision for Income Taxes	438	435	499	451	415	444
Income Taxes
Consolidated Net Income	1,455	1,910	1,578	1,489	1,468	1,634
Net Income Attributable to Common Shareholders	1,455	1,910	1,578	1,489	1,468	1,634
Net Income
Basic EPS	5	6.5	5.3	4.9	4.8	5.3
Diluted EPS	5	6.4	5.3	4.9	4.8	5.3
Basic Weighted Average Shares Outstanding	292.9	295.3	298.3	301.1	304.1	307.7
Total Shares Outstanding	291.5	290.6	296.9	299.3	302.4	305.5
Diluted Weighted Average Shares Outstanding	293.7	296.3	299.3	302	305.2	308.8
EBITDA	2,213	2,289	2,377	2,254	2,181	2,170
Effective Tax Rate	23.1%	18.6%	24%	23.2%	22%	21.4%