Illinois Tool Works Inc

Company facts

Industry

General Industrial Machinery & Equipment

Headquarters

Glenview, Illinois

Most recent report

10-Q, filed Oct 28, 2026

Incorporated

Delaware

Filings on record

1,007+ filings

On EDGAR

CIK 49826

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 3 of 10 sections worth reading, with 0 positive, 4 notable, and 2 negative flags.

• Financial Statements (Item 1)

  Notes contain IRS dispute, debt issuance, and segment revenue shifts.
  Notable

  • Effective tax rate rose to 24.4% in Q3 2026 from 21.8% in Q3 2025, partly due to smaller discrete benefits.
  • Issued $1.5B of 4.65% notes due 2029 in August 2026 to repay commercial paper.
  Negative

  • IRS assessed $23M additional tax for 2018-2021; ITW plans to challenge but risk remains.
  • IRS also disallowed $47M of refund claims; additional $148M for later years at stake.

• Management's Discussion (Item 2)

  Dense MD&A with segment results, tariff impact, buyback authorization, and debt details.
  Notable

  • Board authorized new $6.0B share repurchase program on August 7, 2026, with $6.0B remaining.

• Unregistered Sales and Repurchases (Item 2)

  New $6B buyback authorization in Q3 2026, a material capital allocation event.
  Notable

  • Prior $5.0B program had $678M remaining at September 30, 2026.

What changed: Sep 2026 vs. Jun 2026

About 4% of ITW's Sep 2026 10-Q is new information. 12 paragraphs were added, 161 changed, and 19 removed. Below are the most important lines SECSift identified.

• Item 2 98
• Item 1 28
• Item 4 2
• Item 3 1
• Item 6 1