Rendering
| Component: (Network and Table) |
|---|
| Network | 2301302 - Disclosure - Description of Business and Summary of Significant Accounting Policies (Tables) (http://www.itw.com/role/DescriptionOfBusinessAndSummaryOfSignificantAccountingPoliciesTables) |
| Table | (Implied) |
Slicers (applies to each fact value in each table cell)
| Reporting Entity [Axis] | 0000049826 (http://www.sec.gov/CIK) |
| Accounting Policies [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Accounting Policies [Abstract] | |
Changes in Allowances for Uncollectible Accounts | The changes in the allowance for doubtful accounts during 2016, 2015 and 2014 were as follows:
| | | | | | | | | | | | | | In millions | | 2016 | | 2015 | | 2014 | Beginning balance | | $ | 42 |
| | $ | 43 |
| | $ | 46 |
| Provision charged to expense | | 7 |
| | 7 |
| | 7 |
| Write-offs, net of recoveries | | (6 | ) | | (5 | ) | | (7 | ) | Acquisitions and divestitures | | 1 |
| | — |
| | — |
| Foreign currency translation | | (1 | ) | | (3 | ) | | (3 | ) | Ending balance | | $ | 43 |
| | $ | 42 |
| | $ | 43 |
|
|
Schedule of Inventory | The major classes of inventory at December 31, 2016 and 2015 were as follows:
| | | | | | | | | | In millions | | 2016 | | 2015 | Raw material | | $ | 407 |
| | $ | 415 |
| Work-in-process | | 126 |
| | 130 |
| Finished goods | | 629 |
| | 622 |
| LIFO reserve | | (86 | ) | | (81 | ) | Total inventories | | $ | 1,076 |
| | $ | 1,086 |
|
|
Net Plant and Equipment | Net plant and equipment consisted of the following at December 31, 2016 and 2015:
| | | | | | | | | | In millions | | 2016 | | 2015 | Land | | $ | 186 |
| | $ | 179 |
| Buildings and improvements | | 1,297 |
| | 1,272 |
| Machinery and equipment | | 3,036 |
| | 2,972 |
| Equipment leased to others | | 160 |
| | 156 |
| Construction in progress | | 104 |
| | 76 |
| Gross plant and equipment | | 4,783 |
| | 4,655 |
| Accumulated depreciation | | (3,131 | ) | | (3,078 | ) | Net plant and equipment | | $ | 1,652 |
| | $ | 1,577 |
|
The ranges of useful lives used to depreciate plant and equipment are as follows:
| | | Buildings and improvements | 5—50 years | Machinery and equipment | 3—12 years | Equipment leased to others | Term of lease |
|
Changes in Accrued Warranties | The changes in accrued warranties during 2016, 2015 and 2014 were as follows:
| | | | | | | | | | | | | | In millions | | 2016 | | 2015 | | 2014 | Beginning balance | | $ | 46 |
| | $ | 49 |
| | $ | 50 |
| Charges | | (41 | ) | | (37 | ) | | (41 | ) | Provision charged to expense | | 42 |
| | 36 |
| | 43 |
| Acquisitions and divestitures | | 1 |
| | — |
| | — |
| Foreign currency translation | | (3 | ) | | (2 | ) | | (3 | ) | Ending balance | | $ | 45 |
| | $ | 46 |
| | $ | 49 |
|
|