Illinois Tool Works Full-Year Report 2023

Highlights

• Delivered solid organic growth of +2% in a challenging macro demand environment with best-in-class
  operating margins and return on capital
• Executed with discipline and generated record financial performance
  • Enterprise initiatives contributed 130 bps -Operating income grew 7% to $4B
  • Free cash flow improved 59% to $3.1B
• Invested $0.8B in ITW’s highly profitable core businesses and returned $3.1B to shareholders -Raised dividend for 60th consecutive year (+7%/share)