Illinois Tool Works (ITW) FY2012 results: revenue $14.8 billion, up 1.9% on the year
Illinois Tool Works Inc. (ITW) reported revenue of $14.8 billion for fiscal 2012, the year ended 31 December 2012, up 1.9% on the year before. Net income was $2.9 billion, up 38.6%, and diluted earnings per share $6.06. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2013.
Revenue
$14.8 billion
+1.9% on the year
FY2007FY2012
Operating margin
16.7%
16.3% a year earlier
FY2007FY2012
Net income
$2.9 billion
+38.6% on the year
FY2007FY2012
Diluted EPS
$6.06
+44.6% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
14,791
14,515
15,416
+1.9%
Cost of revenue
9,134
9,089
9,997
+0.5%
Gross profit
5,657
5,426
5,419
+4.3%
Gross margin
38.2%
37.4%
35.2%
Research and development
240
221
213
+8.6%
Operating income
2,475
2,361
2,254
+4.8%
Operating margin
16.7%
16.3%
14.6%
Interest expense
213
191
175
+11.5%
Pre-tax income
3,206
2,223
2,089
+44.2%
Income tax
973
448
637
+117.2%
Effective tax rate
30.3%
20.2%
30.5%
Net income
2,870
2,071
1,503
+38.6%
Net margin
19.4%
14.3%
9.7%
Diluted EPS
$6.06
$4.19
$2.99
+44.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
2,072
1,956
1,488
+5.9%
Capital expenditure
382
353
288
+8.1%
Free cash flow
1,690
1,603
1,200
+5.5%
Free cash flow margin
11.4%
11.0%
7.8%
Cash from investing
1,047
-1,579
-672
Cash from financing
-1,571
-321
-1,053
Depreciation and amortisation
575
555
542
+3.6%
Share-based compensation
54.0
56.0
56.0
-3.6%
Buybacks
2,020
950
350
+112.6%
Dividends paid
865
680
636
+27.2%
Dividend per share
$1.48
$1.40
$1.30
+5.7%
Diluted shares, weighted
473m
495m
501m
-4.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
10,570
10,034
9,572
+5.3%
Debt
5,048
3,990
2,868
+26.5%
Other liabilities
3,691
3,959
3,972
-6.8%
Total liabilities and equity
19,309
17,984
16,412
+7.4%
Fixed assets
1,994
2,025
2,066
-1.6%
Goodwill
5,530
5,198
4,972
+6.4%
Intangible assets
2,258
2,233
1,731
+1.1%
Investments
146
409
442
-64.3%
Cash and equivalents
2,779
1,178
1,186
+135.9%
Receivables
2,742
2,819
2,582
-2.7%
Inventory
1,585
1,716
1,635
-7.6%
Other assets
2,275
2,406
1,799
-5.4%
Total assets
19,309
17,984
16,412
+7.4%
10-K for the year ended 31 December 2012, filed 19 February 2013: the filing.