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CONSOLIDATED CONDENSED INCOME STATEMENTS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Revenue $ 645.0 $ 581.7 $ 1,901.7 $ 1,817.0
Costs of revenue 441.9 397.8 1,291.9 1,232.2
Gross profit 203.1 183.9 609.8 584.8
General and administrative expenses 73.7 59.2 205.2 202.2
Sales and marketing expenses 41.3 39.4 128.3 128.7
Research and development expenses 23.1 18.6 68.2 58.9
Asbestos-related benefit, net (62.8) (68.1) (33.0) (40.3)
Operating income 127.8 134.8 241.1 235.3
Interest and non-operating expenses, net 0.2 0.3 0.1 1.5
Income from continuing operations before income tax expense 127.6 134.5 241.0 233.8
Income tax expense 40.6 46.1 60.3 75.3
Income from continuing operations 87.0 88.4 180.7 158.5
(Loss) income from discontinued operations, net of tax (0.1) 1.8 (0.3) 2.0
Net income 86.9 90.2 180.4 160.5
Less: Income (loss) attributable to noncontrolling interests 0.0 0.1 (0.3) 0.2
Net income attributable to ITT Inc. 86.9 90.1 180.7 160.3
Amounts attributable to ITT Inc.:        
Income from continuing operations, net of tax 87.0 88.3 181.0 158.3
(Loss) income from discontinued operations, net of tax (0.1) 1.8 (0.3) 2.0
Net income attributable to ITT Inc. $ 86.9 $ 90.1 $ 180.7 $ 160.3
Basic:        
Continuing operations $ 0.99 $ 0.99 $ 2.05 $ 1.77
Discontinued operations 0.00 0.02 0.00 0.02
Net income 0.99 1.01 2.05 1.79
Diluted:        
Continuing operations 0.98 0.98 2.03 1.76
Discontinued operations 0.00 0.02 0.00 0.02
Net income $ 0.98 $ 1.00 $ 2.03 $ 1.78
Weighted average common shares – basic 88.0 89.2 88.3 89.5
Weighted average common shares – diluted 88.7 89.7 89.0 90.2
Cash dividends declared per common share $ 0.128 $ 0.124 $ 0.384 $ 0.372