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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
YearSummary
Compensation
Table Total
for PEO($)
Compensation
Actually Paid
to PEO($)(1,2)
Average
Summary
Compensation
Table Total for
Non-PEOs ($)
Average
Compensation
Actually Paid
to Non-PEOs
($)(1,2)
Value of Initial Fixed $100
Investment Based On:
Net Income ($)
(in millions)
After-Tax ROIC(4)
Total
Shareholder
Return(3)
Peer Group
Total
Shareholder
Return(3,5)
(a)(b)(c)(d)(e)(f)(g)(h)(i)
2023$22,507,817 $34,771,926 $4,752,472 $7,292,609 $160.11 $155.66 $2,957 30.4 %
2022$22,234,230 $18,730,022 $4,328,857 $3,805,988 $131.72 $135.49 $3,034 29.1 %
2021$20,787,622 $41,769,292 $5,010,034 $9,056,648 $143.87 $142.88 $2,694 29.5 %
2020$14,007,356 $19,593,737 $3,374,951 $4,317,669 $116.40 $119.39 $2,109 26.2 %
     
Company Selected Measure Name After-tax ROIC      
Named Executive Officers, Footnote E. Scott Santi served as our PEO for 2020 through 2023. For 2020, our non-PEO NEOs included Michael M. Larsen, Christopher A. O'Herlihy, Steven L. Martindale and John R. Hartnett. For 2021, our non-PEO NEOs included Michael M. Larsen, Christopher A. O'Herlihy, John R. Hartnett and Mary K. Lawler. For 2022, our non-PEO NEOs included Michael M. Larsen, Christopher A. O'Herlihy, Mary K. Lawler, Michael R. Zimmerman and Lei Z. Schlitz. For 2023, our non-PEO NEOs included Christopher A. O'Herlihy, Michael M. Larsen, Mary K. Lawler and Axel R.J. Beck.      
Peer Group Issuers, Footnote The table below details the peer group used in the Pay Versus Performance table above and is the same peer group used to show our performance in our Annual Report on Form 10-K for purposes of Item 201(e) of Regulation S-K. The peer group consists of the same companies for 2020, 2021, 2022, and 2023. As disclosed in our 2020 Form 10-K, in 2020, Ecolab Inc., which meets the Company's industry and size criteria, and Trane Technologies plc, which is the company resulting from the spin-off of Ingersoll-Rand plc and its combination with certain businesses of Gardner Denver, Inc., were added to the peer group, while Ingersoll-Rand plc and Raytheon Company, which merged with United Technologies Corporation and no longer meets the Company's industry and size criteria, were removed.
Peer Group
3M CompanyEcolab Inc.Parker-Hannifin Corporation
Caterpillar Inc.Emerson Electric Co.PPG Industries, Inc.
Cummins Inc.Fortive CorporationRockwell Automation, Inc.
Deere & CompanyGeneral Dynamics CorporationStanley Black & Decker, Inc.
Dover CorporationHoneywell International Inc.Trane Technologies plc
Eaton Corporation plcJohnson Controls International plc
     
PEO Total Compensation Amount $ 22,507,817 $ 22,234,230 $ 20,787,622 $ 14,007,356
PEO Actually Paid Compensation Amount $ 34,771,926 18,730,022 41,769,292 19,593,737
Adjustment To PEO Compensation, Footnote The table below reconciles the PEO and average non-PEO compensation as it appears in the Summary Compensation Table (SCT) to the Compensation Actually Paid (CAP) in the Pay Versus Performance Table.
2023
PEO (a)
Average
Non-PEO NEO (a)
E. Scott SantiChristopher A. O'Herlihy, Michael M. Larsen, Mary K. Lawler, Axel R.J. Beck
SCT Total$22,507,817 $4,752,472 
Reported fair value of equity awards granted during fiscal year (b)$(10,762,412)$(2,034,275)
Fair value as of the end of year for equity awards granted during the year$14,615,736 $2,762,603 
Change in fair value from end of prior fiscal year to vesting date for awards made in prior years that vested during the covered year$2,239,782 $394,573 
Change in fair value from end of prior year to end of covered year for awards made in prior fiscal years that were unvested at end of covered year$8,194,562 $1,499,024 
Deduction of fair value for awards forfeited during the covered year$— $— 
Dividends or other earnings paid on unvested awards otherwise not reflected in total compensation$— $— 
Pension values reported in SCT (c)$(2,623,768)$(92,330)
Pension values attributable to covered year's service$600,209 $10,542 
Change in pension value attributable to plan amendments made in the covered year$— $— 
CAP Total$34,771,926 $7,292,609 
(a)    E. Scott Santi served as our PEO for 2020 through 2023. For 2020, our non-PEO NEOs included Michael M. Larsen, Christopher A. O'Herlihy, Steven L. Martindale and John R. Hartnett. For 2021, our non-PEO NEOs included Michael M. Larsen, Christopher A. O'Herlihy, John R. Hartnett and Mary K. Lawler. For 2022, our non-PEO NEOs included Michael M. Larsen, Christopher A. O'Herlihy, Mary K. Lawler, Michael R. Zimmerman and Lei Z. Schlitz. For 2023, our non-PEO NEOs included Christopher A. O'Herlihy, Michael M. Larsen, Mary K. Lawler and Axel R.J. Beck.
(b)    Represents the total amounts reported in the "Stock Awards" and "Option Awards" columns in the SCT in the covered year.
(c)    Represents the change in actuarial present value of the accumulated pension benefit reported in the "Change in Pension Value and Nonqualified Deferred Compensation Earnings" column in the SCT in the covered year. Excess interest earnings on the the ECRIP that is reported in the "Change in Pension Value and Nonqualified Deferred Compensation Earnings" in the SCT has not been subtracted to determine CAP.
     
Non-PEO NEO Average Total Compensation Amount $ 4,752,472 4,328,857 5,010,034 3,374,951
Non-PEO NEO Average Compensation Actually Paid Amount $ 7,292,609 3,805,988 9,056,648 4,317,669
Adjustment to Non-PEO NEO Compensation Footnote The table below reconciles the PEO and average non-PEO compensation as it appears in the Summary Compensation Table (SCT) to the Compensation Actually Paid (CAP) in the Pay Versus Performance Table.
2023
PEO (a)
Average
Non-PEO NEO (a)
E. Scott SantiChristopher A. O'Herlihy, Michael M. Larsen, Mary K. Lawler, Axel R.J. Beck
SCT Total$22,507,817 $4,752,472 
Reported fair value of equity awards granted during fiscal year (b)$(10,762,412)$(2,034,275)
Fair value as of the end of year for equity awards granted during the year$14,615,736 $2,762,603 
Change in fair value from end of prior fiscal year to vesting date for awards made in prior years that vested during the covered year$2,239,782 $394,573 
Change in fair value from end of prior year to end of covered year for awards made in prior fiscal years that were unvested at end of covered year$8,194,562 $1,499,024 
Deduction of fair value for awards forfeited during the covered year$— $— 
Dividends or other earnings paid on unvested awards otherwise not reflected in total compensation$— $— 
Pension values reported in SCT (c)$(2,623,768)$(92,330)
Pension values attributable to covered year's service$600,209 $10,542 
Change in pension value attributable to plan amendments made in the covered year$— $— 
CAP Total$34,771,926 $7,292,609 
(a)    E. Scott Santi served as our PEO for 2020 through 2023. For 2020, our non-PEO NEOs included Michael M. Larsen, Christopher A. O'Herlihy, Steven L. Martindale and John R. Hartnett. For 2021, our non-PEO NEOs included Michael M. Larsen, Christopher A. O'Herlihy, John R. Hartnett and Mary K. Lawler. For 2022, our non-PEO NEOs included Michael M. Larsen, Christopher A. O'Herlihy, Mary K. Lawler, Michael R. Zimmerman and Lei Z. Schlitz. For 2023, our non-PEO NEOs included Christopher A. O'Herlihy, Michael M. Larsen, Mary K. Lawler and Axel R.J. Beck.
(b)    Represents the total amounts reported in the "Stock Awards" and "Option Awards" columns in the SCT in the covered year.
(c)    Represents the change in actuarial present value of the accumulated pension benefit reported in the "Change in Pension Value and Nonqualified Deferred Compensation Earnings" column in the SCT in the covered year. Excess interest earnings on the the ECRIP that is reported in the "Change in Pension Value and Nonqualified Deferred Compensation Earnings" in the SCT has not been subtracted to determine CAP.
     
Equity Valuation Assumption Difference, Footnote In determining CAP, ITW calculated the fair value of outstanding and vested equity awards in the applicable fiscal year in accordance with SEC rules for CAP, and computed in a manner consistent with the methodology used for financial reporting purposes. For performance share units (PSUs), CAP values are based on year end share price (or the price on the vesting date for vested awards), and estimates as to the number of PSUs that were likely to vest at the conclusion of the performance period. For stock options, the valuations are based on a lattice-based option pricing model that incorporates a range of assumptions for inputs to determine the fair value for CAP purposes.      
Compensation Actually Paid vs. Total Shareholder Return
Relationship Between Compensation Actually Paid (CAP) and Performance Metrics
The charts below illustrate the relationship between Compensation Actually Paid to both the PEO and average Non-PEO to performance metrics required for disclosure: (a) TSR based on the value of an initial fixed $100 invested in ITW Common Stock and ITW's 2023 Peer Group, including the reinvestment of dividends, (b) net income, and (c) After-tax ROIC.
Compensation Actually Paid vs TSR
4947802334432
Compensation Actually Paid vs Net Income
4947802334476
Compensation Actually Paid vs After-tax ROIC*
4947802334524
*   After-tax ROIC is a non-GAAP measure. See Appendix B for information regarding this non-GAAP measure.
     
Compensation Actually Paid vs. Net Income
Relationship Between Compensation Actually Paid (CAP) and Performance Metrics
The charts below illustrate the relationship between Compensation Actually Paid to both the PEO and average Non-PEO to performance metrics required for disclosure: (a) TSR based on the value of an initial fixed $100 invested in ITW Common Stock and ITW's 2023 Peer Group, including the reinvestment of dividends, (b) net income, and (c) After-tax ROIC.
Compensation Actually Paid vs TSR
4947802334432
Compensation Actually Paid vs Net Income
4947802334476
Compensation Actually Paid vs After-tax ROIC*
4947802334524
*   After-tax ROIC is a non-GAAP measure. See Appendix B for information regarding this non-GAAP measure.
     
Compensation Actually Paid vs. Company Selected Measure
Relationship Between Compensation Actually Paid (CAP) and Performance Metrics
The charts below illustrate the relationship between Compensation Actually Paid to both the PEO and average Non-PEO to performance metrics required for disclosure: (a) TSR based on the value of an initial fixed $100 invested in ITW Common Stock and ITW's 2023 Peer Group, including the reinvestment of dividends, (b) net income, and (c) After-tax ROIC.
Compensation Actually Paid vs TSR
4947802334432
Compensation Actually Paid vs Net Income
4947802334476
Compensation Actually Paid vs After-tax ROIC*
4947802334524
*   After-tax ROIC is a non-GAAP measure. See Appendix B for information regarding this non-GAAP measure.
     
Tabular List, Table
After-tax ROIC
Operating Margin
EPS Growth
Organic Revenue Growth
Operating Income Growth vs. Prior Year
     
Total Shareholder Return Amount $ 160.11 131.72 143.87 116.40
Peer Group Total Shareholder Return Amount 155.66 135.49 142.88 119.39
Net Income (Loss) $ 2,957,000,000 $ 3,034,000,000 $ 2,694,000,000 $ 2,109,000,000
Company Selected Measure Amount 0.304 0.291 0.295 0.262
PEO Name E. Scott Santi E. Scott Santi E. Scott Santi E. Scott Santi
Additional 402(v) Disclosure Total shareholder return assumes $100 invested on December 31, 2019, including reinvestment of dividends.      
Measure:: 1        
Pay vs Performance Disclosure        
Name After-tax ROIC      
Non-GAAP Measure Description After-tax return on average invested capital (After-tax ROIC) is a non-GAAP measure. See Appendix B for information regarding non-GAAP measures. After-tax ROIC is an important financial performance measure used by ITW to measure financial performance and link executive compensation to company performance.      
Measure:: 2        
Pay vs Performance Disclosure        
Name Operating Margin      
Measure:: 3        
Pay vs Performance Disclosure        
Name EPS Growth      
Measure:: 4        
Pay vs Performance Disclosure        
Name Organic Revenue Growth      
Measure:: 5        
Pay vs Performance Disclosure        
Name Operating Income Growth vs. Prior Year      
PEO | Adjustment, Reported Fair Value Of Equity Awards Granted During Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (10,762,412)      
PEO | Adjustment, Fair Value As Of The End Of The Year For Equity Awards Granted During The Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 14,615,736      
PEO | Adjustment, Change In Fair Value From End Of Prior Fiscal Year To Vesting Date For Awards Made In Prior Years That Vested During The Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,239,782      
PEO | Adjustment, Change In Fair Value From End Of Prior Year To End Of Covered Year For Awards Made In Prior Fiscal Years That Were Unvested At End Of Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 8,194,562      
PEO | Adjustment, Deduction Of Fair Value For Awards Forfeited During The Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
PEO | Adjustment, Dividends Or Other Earnings Paid On Unvested Awards Otherwise Not Reflected In Total Compensation [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
PEO | Adjustment, Pension Values Reported In SCT [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,623,768)      
PEO | Adjustment, Pension values Attributable To Covered Year's Service [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 600,209      
PEO | Adjustment, Change In Pension Value Attributable To Plan Amendments Made In The Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Adjustment, Reported Fair Value Of Equity Awards Granted During Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,034,275)      
Non-PEO NEO | Adjustment, Fair Value As Of The End Of The Year For Equity Awards Granted During The Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,762,603      
Non-PEO NEO | Adjustment, Change In Fair Value From End Of Prior Fiscal Year To Vesting Date For Awards Made In Prior Years That Vested During The Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 394,573      
Non-PEO NEO | Adjustment, Change In Fair Value From End Of Prior Year To End Of Covered Year For Awards Made In Prior Fiscal Years That Were Unvested At End Of Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,499,024      
Non-PEO NEO | Adjustment, Deduction Of Fair Value For Awards Forfeited During The Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Adjustment, Dividends Or Other Earnings Paid On Unvested Awards Otherwise Not Reflected In Total Compensation [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Adjustment, Pension Values Reported In SCT [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (92,330)      
Non-PEO NEO | Adjustment, Pension values Attributable To Covered Year's Service [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 10,542      
Non-PEO NEO | Adjustment, Change In Pension Value Attributable To Plan Amendments Made In The Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0