Use the financial information for Illinois Tool Works (ticker: ITW) shown below. You want to better understand the profitability of ITW's operations. What is their Economic Value Added (EVA) for 2019? Assume an ROA Spread of 8.25%, that all Current Liabilities are non-interest bearing other than short-term debt, and that the amount of excess cash is unknown (which means what for the excess cash portion of the calculation?). State your answer in millions (as shown on the Financial Statements) with one decimal place of accuracy.

Income Statement - USD ($) $ in Millions 12 Months Ended Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 S $ $ $ $ 3,094 2,628 1,220 336 S 1,981 $ 2,451 1,164 $ 296 $ 351 5 6,253 $ 1,729 $ 4,492 $ 851 $ 516 5 1,227 $ 15,058S 1,504 $ 2,622 $ 1,318 $ 334 S $ 5,778 $ 1,791 $ 4,633 $ 1,084 $ 554 S 1,030 S 14,870 5 7,278 1,778 4,752 1,272 505 1,195 16,780 Operating Revenue Cost of revenue Selling, administrative, and r&d expenses Legal settlement income) Amortization & impairment of intangible assets Operating Income Interest expense Other income (expense) Income Before Taxes Income taxes Net Income Net Income Per Share: Basic (in dollars per share) Diluted (in dollars per share) S $ $ S s S $ s $ $ $ $ 14,109 $ 8,187 $ 2,361 $ $ 159 $ 3,402 $ (221) S 107 $ 3,288 $ 767 S 2,521 $ 14,768 $ 8,604 $ 2,391 $ $ 189 $ 3,584 5 (257) $ 67 $ 3,394 5 831 S 2,563 $ $ $ $ $ $ $ 14,314 8,306 2,412 (95) 206 3,485 (260) 45 3,270 1,583 1,687 $ $ 8 $ 8 $ 8 $ 8 5 5 Stock Price as of 12/31/19: $ 178.57 Balance Sheet - USD ($) $ in Millions Current Assets: Cash and equivalents Accounts receivables Inventories Prepaid expenses and other current assets Assets held for sale Total current assets Net plant and equipment Goodwill Intangible assets Deferred income taxes Other assets Total Assets Current Liabilities: Short-term debt Accounts payable Accrued expenses Cash dividends payable Income taxes payable Liabilities held for sale Total current liabilities Noncurrent Liabilities: Long-term debt Deferred income taxes Noncurrent income taxes payable Other liabilities Total noncurrent liabilities Total liabilities Stockholders' Equity: Common Stock Additional paid-in-capital Retained earnings Common stock held in treasury Accumulated other comprehensive income (loss) Noncontrolling interest Total stockholders' equity Total liabilities and stockholders' equity S $ $ S $ $ 4 $ 472 1,217 $ 3425 48 $ 71 $ 2,154 $ 1,351 $ 524 $ 1,271 $ 328 $ 68 $ $ 3,542 $ 850 590 1,258 266 89 . 3,053 $ S $ S $ $ 7,754 S 668 5 4625 1,000 $ 9,884 $ 12,038 $ 6,029 S 707 $ 495 $ 839 $ 8,070 $ 11,612 5 7,478 164 614 882 9,138 12,191 $ $ $ $ S $ $ S S $ 6 $ 1,304 S 22,403 $ (18,982) 11,705) $ 4 S 3,030 S 15,068 $ 6 $ $ 6 1,253 $ 1,218 21,217 $ 20,210 (17,545) S (15,562) 11,677) $ (1,287) 4 $ 4 3,258 $ 4,589 14,870 $ 16,780