Stock Analysis on Net

Illinois Tool Works Inc. (NYSE:ITW)

$22.49

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

Adjustments to Financial Statements

Microsoft Excel

Adjustments to Current Assets

Illinois Tool Works Inc., adjusted current assets

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Current assets
Adjustments
Add: Allowance for doubtful accounts
Add: LIFO reserve1
After Adjustment
Adjusted current assets

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 LIFO reserve. See details »


Adjustments to Total Assets

Illinois Tool Works Inc., adjusted total assets

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Total assets
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Add: Allowance for doubtful accounts
Add: LIFO reserve2
Less: Deferred income tax assets3
After Adjustment
Adjusted total assets

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 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 LIFO reserve. See details »

3 Deferred income tax assets. See details »


Adjustments to Current Liabilities

Illinois Tool Works Inc., adjusted current liabilities

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Current liabilities
Adjustments
Less: Current deferred revenue and customer deposits
Less: Current accrued product warranties
After Adjustment
Adjusted current liabilities

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).


Adjustments to Total Liabilities

Illinois Tool Works Inc., adjusted total liabilities

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Total liabilities
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1
Less: Deferred income tax liabilities2
Less: Deferred revenue and customer deposits
Less: Accrued product warranties
After Adjustment
Adjusted total liabilities

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 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred income tax liabilities. See details »


Adjustments to Stockholders’ Equity

Illinois Tool Works Inc., adjusted stockholders’ equity attributable to ITW

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Stockholders’ equity attributable to ITW
Adjustments
Less: Net deferred income tax assets (liabilities)1
Add: Allowance for doubtful accounts
Add: LIFO reserve2
Add: Deferred revenue and customer deposits
Add: Accrued product warranties
Add: Noncontrolling interest
After Adjustment
Adjusted total stockholders’ equity

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 Net deferred income tax assets (liabilities). See details »

2 LIFO reserve. See details »


Adjustments to Capitalization Table

Illinois Tool Works Inc., adjusted capitalization table

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Short-term debt
Long-term debt
Total reported debt
Stockholders’ equity attributable to ITW
Total reported capital
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1
Add: Current portion of operating lease liabilities2
Add: Long-term portion of operating lease liabilities3
Adjusted total debt
Adjustments to Equity
Less: Net deferred income tax assets (liabilities)4
Add: Allowance for doubtful accounts
Add: LIFO reserve5
Add: Deferred revenue and customer deposits
Add: Accrued product warranties
Add: Noncontrolling interest
Adjusted total stockholders’ equity
After Adjustment
Adjusted total capital

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 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current portion of operating lease liabilities. See details »

3 Long-term portion of operating lease liabilities. See details »

4 Net deferred income tax assets (liabilities). See details »

5 LIFO reserve. See details »


Adjustments to Revenues

Illinois Tool Works Inc., adjusted operating revenue

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Operating revenue
Adjustment
Add: Increase (decrease) in deferred revenue and customer deposits
After Adjustment
Adjusted operating revenue

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).


Adjustments to Reported Income

Illinois Tool Works Inc., adjusted net income

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Net income
Adjustments
Add: Deferred income tax expense (benefit)1
Add: Increase (decrease) in allowance for doubtful accounts
Add: Increase (decrease) in LIFO reserve2
Add: Increase (decrease) in deferred revenue and customer deposits
Add: Increase (decrease) in accrued product warranties
Add: Other comprehensive income (loss)
After Adjustment
Adjusted net income

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 Deferred income tax expense (benefit). See details »

2 Increase (decrease) in LIFO reserve. See details »