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CONSOLIDATED CONDENSED INCOME STATEMENTS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Income Statement [Abstract]        
Revenue $ 626.2 $ 628.2 $ 1,235.3 $ 1,216.9
Costs of revenue 420.6 414.3 834.4 804.0
Gross profit 205.6 213.9 400.9 412.9
General and administrative expenses 74.0 66.5 143.0 126.6
Sales and marketing expenses 46.0 48.8 89.3 96.1
Research and development expenses 21.1 18.9 40.3 37.2
Asbestos-related costs (benefit), net 15.0 (84.8) 27.8 (69.4)
Operating income 49.5 164.5 100.5 222.4
Interest and non-operating (income) expenses, net (0.5) 0.3 1.2 1.5
Income from continuing operations before income tax expense 50.0 164.2 99.3 220.9
Income tax expense 17.5 23.5 29.2 41.6
Income from continuing operations 32.5 140.7 70.1 179.3
Income from discontinued operations, net of tax 0.5 1.7 0.2 5.1
Net income 33.0 142.4 70.3 184.4
Less: Income attributable to noncontrolling interests 0.2 0.1 0.1 0.0
Net income attributable to ITT Inc. 32.8 142.3 70.2 184.4
Amounts attributable to ITT Inc.:        
Income from continuing operations, net of tax 32.3 140.6 70.0 179.3
Income from discontinued operations, net of tax 0.5 1.7 0.2 5.1
Net income attributable to ITT Inc. $ 32.8 $ 142.3 $ 70.2 $ 184.4
Basic:        
Continuing operations $ 0.36 $ 1.57 $ 0.78 $ 1.99
Discontinued operations 0.00 0.02 0.00 0.06
Net income 0.36 1.59 0.78 2.05
Diluted:        
Continuing operations 0.36 1.56 0.78 1.97
Discontinued operations 0.00 0.02 0.00 0.06
Net income $ 0.36 $ 1.58 $ 0.78 $ 2.03
Weighted average common shares – basic 89.8 89.3 89.7 90.0
Weighted average common shares – diluted 90.4 90.2 90.4 91.0
Cash dividends declared per common share $ 0.124 $ 0.1183 $ 0.248 $ 0.2366