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CONSOLIDATED CONDENSED INCOME STATEMENTS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]        
Revenue $ 628.2 $ 663.0 $ 1,216.9 $ 1,337.5
Costs of revenue 414.3 448.2 804.0 907.9
Gross profit 213.9 214.8 412.9 429.6
General and administrative expenses 66.5 69.5 126.6 147.2
Sales and marketing expenses 48.8 56.3 96.1 111.6
Research and development expenses 18.9 18.6 37.2 36.3
Asbestos-related (benefit) costs, net (84.8) 15.9 (69.4) 31.7
Operating income 164.5 54.5 222.4 102.8
Interest and non-operating expenses, net 0.3 0.5 1.5 1.6
Income from continuing operations before income tax expense 164.2 54.0 220.9 101.2
Income tax expense 23.5 12.4 41.6 25.4
Income from continuing operations 140.7 41.6 179.3 75.8
Income (loss) from discontinued operations, net of tax 1.7 (2.9) 5.1 (3.9)
Net income 142.4 38.7 184.4 71.9
Less: Income attributable to noncontrolling interests 0.1 0.4 0.0 1.4
Net income attributable to ITT Corporation 142.3 38.3 184.4 70.5
Amounts attributable to ITT Corporation:        
Income from continuing operations, net of tax 140.6 41.2 179.3 74.4
Income (loss) from discontinued operations, net of tax 1.7 (2.9) 5.1 (3.9)
Net income attributable to ITT Corporation $ 142.3 $ 38.3 $ 184.4 $ 70.5
Basic:        
Continuing operations $ 1.57 $ 0.45 $ 1.99 $ 0.81
Discontinued operations 0.02 (0.03) 0.06 (0.04)
Net income 1.59 0.42 2.05 0.77
Diluted:        
Continuing operations 1.56 0.44 1.97 0.80
Discontinued operations 0.02 (0.03) 0.06 (0.04)
Net income $ 1.58 $ 0.41 $ 2.03 $ 0.76
Weighted average common shares – basic 89.3 91.7 90.0 91.5
Weighted average common shares – diluted 90.2 93.0 91.0 92.8
Cash dividends declared per common share $ 0.1183 $ 0.11 $ 0.2366 $ 0.22