Illinois Tool Works Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2016. For the fourth quarter, the company reported operating revenues of $3,399 million compared to $3,275   million a year ago. Operating income was $742 million compared to $679 million a year ago. Income before income taxes were $726 million compared to $634 million a year ago. Net income was $507 million or $1.45 per diluted share compared to $450 million or $1.23 per diluted share a year ago. Net cash provided by operating activities were $664 million compared to $703 million a year ago. Adjusted net income per diluted share was $1.39.

For the full year 2017, the company reported operating revenues of $13,599 million compared to $13,405 million a year ago. Operating income was $3,064 million compared to $2,867 million a year ago. Income before income taxes were $2,908 million compared to $2,719 million a year ago. Net income was $2,035 million or $5.70 per diluted share compared to $1,899 million or $5.13 per diluted share a year ago. Net cash provided by operating activities were $2,302 million compared to $2,299 million a year ago. Adjusted operating income after taxes was $2,003 million compared to $2,022 million a year ago. Free cash flow was $593 million was 117% of net income.

The company reaffirmed its 2017 full-year performance expectations. The company expects 2017 earnings to be in the range of $6.00 to $6.20 per share with organic growth of 1.5 to 3.5%. The company also expects operating margin to exceed 23.5% and free cash flow conversion to exceed 100% for the full-year.

The company expects first quarter 2017 earnings to be in the range of $1.39 to $1.49 per share with organic growth of 1 to 2%. The company expects operating margin to exceed 22.5%.