ILLINOIS TOOL WORKS INC (ITW) FY2024 Annual P&L / Income Statement

ILLINOIS TOOL WORKS INC (ITW) FY2024 Annual P&L / Income Statement

Income statement for 2024-01-01 through 2024-12-31. View: Business segment. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

Operating Revenue

15,898,000,000 US dollars

Cost of revenue

8,858,000,000 US dollars

Gross profit (calculated)

7,040,000,000 US dollars

Operating expenses (calculated)

2,776,000,000 US dollars

Operating Income

4,264,000,000 US dollars

Other income (expense), net (calculated)

158,000,000 US dollars

Income Before Taxes

4,422,000,000 US dollars

Income taxes

934,000,000 US dollars

Net Income

3,488,000,000 US dollars

Automotive OEM

3,188,000,000 US dollars

Food Equipment

2,647,000,000 US dollars

Test & Measurement and Electronics

2,818,000,000 US dollars

Welding

1,851,000,000 US dollars

Polymers & Fluids

1,764,000,000 US dollars

Construction Products

1,909,000,000 US dollars

Specialty Products

1,743,000,000 US dollars

Amortization and impairment of intangible assets

101,000,000 US dollars

Selling, administrative, and research and development expenses

2,675,000,000 US dollars

Revenue before reconciliation (calculated)

15,920,000,000 US dollars. Sum of the reported revenue categories before the separately reported reconciliation.

Intersegment revenue

negative 22,000,000 US dollars. Reported reconciliation to consolidated revenue.

Chart connections

• Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
• Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
• Reported revenue categories plus the separately reported signed reconciliation equals consolidated revenue.