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

- Company: ILLINOIS TOOL WORKS INC (ITW)
- Period: 2024-01-01 to 2024-12-31
- Filing: FY2024 10-K, filed 2025-02-14, accession number 0000049826-25-000007
- Page: https://plicit.ai/financials/itw/fy2024-annual-income-statement
- Chart image: https://plicit.ai/charts/itw-fy2024-annual-income-statement-sankey.png

## Chart details: Revenue by Business Segment

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.

## Chart details: Revenue by Geography

- Page: https://plicit.ai/financials/itw/fy2024-annual-income-statement/revenue-by-geography
- Chart image: https://plicit.ai/charts/itw-fy2024-annual-revenue-by-geography-sankey.png

Income statement for 2024-01-01 through 2024-12-31. View: Geography. 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
- **UNITED STATES**: 7,374,000,000 US dollars
- **Canada/Mexico**: 1,156,000,000 US dollars
- **Europe, Middle East and Africa**: 4,101,000,000 US dollars
- **Asia Pacific**: 2,961,000,000 US dollars
- **South America**: 306,000,000 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

### 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.