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Illinois Tool Works's tax expense for the months ended in Dec. 2023 was $210 Mil. Its tax expense for the trailing twelve months (TTM) ended in Dec. 2023 was $866 Mil.
The historical data trend for Illinois Tool Works's Tax Expense can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Illinois Tool Works Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Tax Expense | Get a 7-Day Free Trial | 767.00 | 595.00 | 632.00 | 808.00 | 866.00 |
Illinois Tool Works Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Tax Expense | Get a 7-Day Free Trial | 214.00 | 208.00 | 207.00 | 241.00 | 210.00 |
Tax paid by the company. It is computed in by multiplying the income before tax number, as reported to shareholders, by the appropriate tax rate. In reality, the computation is typically considerably more complex due to things such as expenses considered not deductible by taxing authorities ("add backs"), the range of tax rates applicable to various levels of income, different tax rates in different jurisdictions, multiple layers of tax on income, and other issues.
Tax Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $866 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Illinois Tool Works (NYSE:ITW) Tax Expense Explanation
In the long run, income before tax and taxable income will likely be more similar than they are in any given period. If the one is less in earlier years, then it will be greater in later years. Deferred taxes will reverse themselves in the long run and in total will zero out, unless there is something like a change in tax rates in the intervening period. A deferred tax payable results from a tax break in the early years and will reverse itself in later years; a deferred tax receivable results from more taxes being paid in early years than the tax expense reported to shareholders and will again reverse itself in later years. The deferred tax amount is computed by estimating the amount and the timing of the reversal and multiplying that by the appropriate tax rates.
Thank you for viewing the detailed overview of Illinois Tool Works's Tax Expense provided by GuruFocus.com. Please click on the following links to see related term pages.
Smith David Byron Jr | director | 155 HARLEM AVE., GLENVIEW IL 60025 |
Randall J Scheuneman | officer: VP & Chief Accounting Officer | 155 HARLEM AVE., GLENVIEW IL 60025 |
Christopher A O'herlihy | officer: Executive Vice President | 155 HARLEM AVE., GLENVIEW IL 60025 |
Ernest Scott Santi | director, officer: President & CEO | ILLINOIS TOOL WORKS INC., 155 HARLEM AVE., GLENVIEW IL 60025 |
Michael M Larsen | officer: SVP & CFO | ILLINOIS TOOL WORKS INC., 155 HARLEM AVE., GLENVIEW IL 60025 |
Kelly J Grier | director | 155 HARLEM AVE., GLENVIEW IL 60025 |
Lei Zhang Schlitz | officer: Executive Vice President | 5757 N. GREENBAY AVENUE, GLENDALE WI 53129 |
Patricia A. Hartzell | officer: Executive Vice President | 155 HARLEM AVE., GLENVIEW IL 60025 |
Javier Gracia Carbonell | officer: Executive Vice President | 155 HARLEM AVE., GLENVIEW IL 60025 |
Mary Katherine Lawler | officer: SVP & Chief HR Officer | ILLINOIS TOOL WORKS INC., 155 HARLEM AVE, GLENVIEW IL 60025 |
Jay L Henderson | director | 50 SOUTH LASALLE ST, CHICAGO IL 60603 |
Jennifer Kaplan Schott | officer: SVP, General Counsel & Secy. | 155 HARLEM AVE., GLENVIEW IL 60025 |
Darrell L Ford | director | 55 GLENLAKE PARKWAY, NE, ATLANTA GA 30328 |
Finch Norman D. Jr. | officer: Sr. VP, General Counsel & Secy | C/O ILLINOIS TOOL WORKS INC., 155 HARLEM AVE., GLENVIEW IL 60025 |
Michael R. Zimmerman | officer: Executive Vice President | 155 HARLEM AVE., GLENVIEW IL 60025 |
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