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CONSOLIDATED CONDENSED INCOME STATEMENTS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Income Statement [Abstract]        
Revenue $ 601.9 $ 657.1 $ 1,818.8 $ 1,994.6
Costs of revenue 407.0 437.2 1,211.0 1,345.1
Gross profit 194.9 219.9 607.8 649.5
General and administrative expenses 60.2 69.1 186.8 216.3
Sales and marketing expenses 43.1 53.5 139.2 165.1
Research and development expenses 18.0 20.1 55.2 56.4
Asbestos-related benefit, net (30.3) (42.5) (99.7) (10.8)
Operating income 103.9 119.7 326.3 222.5
Interest and non-operating (income) expenses, net (4.0) 0.7 (2.5) 2.3
Income from continuing operations before income tax expense 107.9 119.0 328.8 220.2
Income tax expense 11.4 38.0 53.0 63.4
Income from continuing operations 96.5 81.0 275.8 156.8
Income (loss) from discontinued operations, net of tax 34.2 (0.3) 39.3 (4.2)
Net income 130.7 80.7 315.1 152.6
Less: Income attributable to noncontrolling interests 0.0 0.4 0.0 1.8
Net income attributable to ITT Corporation 130.7 80.3 315.1 150.8
Amounts attributable to ITT Corporation:        
Income from continuing operations, net of tax 96.5 80.6 275.8 155.0
Income (loss) from discontinued operations, net of tax 34.2 (0.3) 39.3 (4.2)
Net income attributable to ITT Corporation $ 130.7 $ 80.3 $ 315.1 $ 150.8
Basic:        
Continuing operations $ 1.08 $ 0.88 $ 3.07 $ 1.69
Discontinued operations 0.38 0.00 0.44 (0.04)
Net income 1.46 0.88 3.51 1.65
Diluted:        
Continuing operations 1.07 0.87 3.04 1.67
Discontinued operations 0.38 (0.01) 0.43 (0.05)
Net income $ 1.45 $ 0.86 $ 3.47 $ 1.62
Weighted average common shares – basic 89.4 91.6 89.9 91.5
Weighted average common shares – diluted 90.3 92.9 90.8 92.9
Cash dividends declared per common share $ 0.1183 $ 0.11 $ 0.3549 $ 0.33