in the past the company's growth is driven by acquisitions but under santy's leadership, organic growthhe kind you make yourself much more valuable than buying and it made the company more efficient. not only that but illinois tool works got out of 32 different businesses with low margins in ordinary tore fer to focus on te business and spent years cutting costs to become a leaner, meaner, more competitive industrial. it exited not so hot businesses to double down and boy, oh, boy, is that strategy paid off? illinois tool works is delivering excellent numbers for years now but this latest quarter of the company reported last week is the most compelling evidence that management strategy is working like a charm and we do have the industrial champion of america, itw. however, you may not notice the greatness of the results at first glance because the headline numbers are misleading. according to headlines, illinois tool works earned 1.39 per share. although when you exclude someone-time items, they earn a 1.45. that's a 17.9% growth rate from an industrial. meanwhile they came in 3.9% vers