ITW AR 2011.Indd
100 YEARS STRONG ILLINOIS TOOL WORKS INC. 2011 ANNUAL REPORT ITW at a Glance Celebrating 100 years of history, Illinois Tool Works Inc. (NYSE: ITW) is a diversifi ed manufacturing company that delivers specialized expertise, innovative thinking and value-added products to meet critical customer needs in a variety of industries. ITW has decentralized businesses in 58 countries that employ approximately 65,000 women and men. These talented individuals, many of whom have specialized engineering or scientifi c expertise, contribute to our global leadership in innovation. We are proud of our broad portfolio of more than 19,000 global patents and patent applications. Financial Highlights 1 ITW Business Segments 2 Revenue Diversifi cation 4 25-Year Revenue/Operating Income 4 Letter to Our Shareholders 5 100 Years Strong 8 Corporate Executives 22 Board of Directors 23 Eleven-Year Financial Summary 24 Corporate Information 26 Financial Highlights DOLLARS IN THOUSANDS EXCEPT PER SHARE AMOUNTS 2011 2010 2009 YEAR ENDED DECEMBER 31 OPERATING RESULTS Operating revenues $ 17,786,583 $ 15,415,692 $ 13,572,996 Operating income 2,731,008 2,254,017 1,382,963 Operating income margin 15.4% 14.6% 10.2% Income from continuing operations $ 2,017,014 $ 1,452,438 $ 968,638 Operating revenues by segment: Transportation $ 3,108,349 $ 2,522,226 $ 2,092,249 Power Systems & Electronics 2,872,161 2,409,204 2,004,402 Industrial Packaging 2,612,108 2,272,059 1,940,887 Food Equipment 1,982,187 1,857,051 1,862,950 Construction Products 1,958,370 1,753,485 1,547,365 Polymers
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