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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities    
Net income $ 282.3 $ 180.4
Less: Loss from discontinued operations 0.0 (0.3)
Less: Income (loss) attributable to noncontrolling interests 0.5 (0.3)
Income from continuing operations attributable to ITT Inc. 281.8 181.0
Adjustments to income from continuing operations:    
Depreciation and amortization 82.5 77.6
Equity-based compensation 16.9 12.5
Gain on sale of long-lived assets (40.5) (0.9)
Asbestos-related benefit, net (10.5) (33.0)
Asbestos-related payments, net (42.3) (39.5)
Changes in assets and liabilities:    
Change in receivables (23.5) (47.2)
Change in inventories (22.2) (4.2)
Change in accounts payable (10.3) 3.4
Change in accrued expenses (7.3) 18.3
Change in accrued and deferred income taxes 6.0 19.8
Other, net 16.0 (9.5)
Net Cash – Operating activities 246.6 178.3
Investing Activities    
Capital expenditures (63.8) (79.2)
Proceeds from sale of long-lived assets 42.7 3.4
Acquisitions, net of cash acquired 0.0 (113.7)
Other, net 0.0 (0.2)
Net Cash – Investing activities (21.1) (189.3)
Financing Activities    
Commercial paper, net repayments (16.0) 17.5
Short-term revolving loans, borrowings 246.5 77.3
Short-term revolving loans, repayments 233.8 123.9
Long-term debt, issued 3.2 3.9
Long-term debt, repayments (2.1) (1.1)
Repurchase of common stock (55.8) (32.9)
Proceeds from issuance of common stock 5.8 6.7
Dividends paid (23.9) (22.8)
Other, net (0.1) 0.0
Net Cash – Financing activities (76.2) (75.3)
Exchange rate effects on cash and cash equivalents (11.4) 22.4
Net Cash – Operating activities of discontinued operations (1.9) (1.2)
Net change in cash and cash equivalents 136.0 (65.1)
Cash and cash equivalents – beginning of year (includes restricted cash of $1.2 and $1.2, respectively) 391.0 461.9
Cash and cash equivalents – end of period (includes restricted cash of $1.2 and $1.2, respectively) 527.0 396.8
Cash paid during the year for:    
Interest 1.0 2.8
Income taxes, net of refunds received $ 31.0 $ 39.6