XML 14 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED CONDENSED INCOME STATEMENTS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Revenue $ 581.7 $ 601.9 $ 1,817.0 $ 1,818.8
Costs of revenue 397.8 407.0 1,232.2 1,211.0
Gross profit 183.9 194.9 584.8 607.8
General and administrative expenses 59.2 60.2 202.2 186.8
Sales and marketing expenses 39.4 43.1 128.7 139.2
Research and development expenses 18.6 18.0 58.9 55.2
Asbestos-related benefit, net (68.1) (30.3) (40.3) (99.7)
Operating income 134.8 103.9 235.3 326.3
Interest and non-operating expenses (income), net 0.3 (4.0) 1.5 (2.5)
Income from continuing operations before income tax expense 134.5 107.9 233.8 328.8
Income tax expense 46.1 11.4 75.3 53.0
Income from continuing operations 88.4 96.5 158.5 275.8
Income from discontinued operations, net of tax 1.8 34.2 2.0 39.3
Net income 90.2 130.7 160.5 315.1
Less: Income attributable to noncontrolling interests 0.1 0.0 0.2 0.0
Net income attributable to ITT Inc. 90.1 130.7 160.3 315.1
Amounts attributable to ITT Inc.:        
Income from continuing operations, net of tax 88.3 96.5 158.3 275.8
Income from discontinued operations, net of tax 1.8 34.2 2.0 39.3
Net income attributable to ITT Inc. $ 90.1 $ 130.7 $ 160.3 $ 315.1
Basic:        
Continuing operations $ 0.99 $ 1.08 $ 1.77 $ 3.07
Discontinued operations 0.02 0.38 0.02 0.44
Net income 1.01 1.46 1.79 3.51
Diluted:        
Continuing operations 0.98 1.07 1.76 3.04
Discontinued operations 0.02 0.38 0.02 0.43
Net income $ 1.00 $ 1.45 $ 1.78 $ 3.47
Weighted average common shares – basic 89.2 89.4 89.5 89.9
Weighted average common shares – diluted 89.7 90.3 90.2 90.8
Cash dividends declared per common share $ 0.124 $ 0.1183 $ 0.372 $ 0.3549