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ILLINOIS TOOL WORKS INC Income Tax Expense 2007-2026 | ITW

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What is income tax expense?

Income tax expense is the total amount of income taxes a company owes to federal, state, and foreign governments.

What is ILLINOIS TOOL WORKS INC's current income tax expense?

ILLINOIS TOOL WORKS INC (ITW) annual income tax expense for 2025 was $900.0M, a 3.64% decline from 2024. ILLINOIS TOOL WORKS INC income tax expense for the quarter ending March 31, 2026 was $199.0M.

What was ILLINOIS TOOL WORKS INC's income tax expense in 2024?

ILLINOIS TOOL WORKS INC annual income tax expense for 2024 was $934.0M, a 7.85% increase from 2023.

What was ILLINOIS TOOL WORKS INC's income tax expense in 2023?

ILLINOIS TOOL WORKS INC annual income tax expense for 2023 was $866.0M, a 7.18% increase from 2022.

What is ILLINOIS TOOL WORKS INC's 5-year income tax expense CAGR?

ILLINOIS TOOL WORKS INC income tax expense grew at a compound annual growth rate (CAGR) of 8.63% from FY2020 to FY2025, going from $595.0M to $900.0M over 5 years.

Income Tax Expense History

Year-over-year comparison from 10-K annual reports

Key Statistics
Trend Direction
Stable
CAGR+8.6%
FY2020
$595.0M
→
FY2025
$900.0M
07080910111213141516171819202122232425
5 years selected
Income Tax Expense History
PeriodValueChangeSource
FY2025$900.0M-3.6%10-K
FY2024$934.0M+7.9%10-K
FY2023$866.0M+7.2%10-K
FY2022$808.0M+27.8%10-K
FY2021$632.0M+6.2%10-K
FY2020$595.0M-22.4%10-K
FY2019$767.0M-7.7%10-K
FY2018$831.0M-47.5%10-K
FY2017$1.58B+81.3%10-K
FY2016$873.0M+6.5%10-K
FY2015$820.0M+1.4%10-K
FY2014$809.0M+12.8%10-K
FY2013$717.0M-26.3%10-K
FY2012$973.0M+117.2%10-K
FY2011$448.0M-29.7%10-K
FY2010$637.0M+159.7%10-K
FY2009$245.3M-62.9%10-K
FY2008$660.4M-12.7%10-K
FY2007$756.2M-10-K
Company: ILLINOIS TOOL WORKS INCTicker: ITWSector: IndustrialIndustry: General Industrial Machinery & EquipmentView company profile →