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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]        
Revenue $ 711.9 $ 680.6 $ 2,127.3 $ 2,066.7
Costs of revenue 480.6 454.1 1,445.2 1,390.0
Gross profit 231.3 226.5 682.1 676.7
General and administrative expenses 69.5 68.0 187.5 196.6
Sales and marketing expenses 41.6 40.8 124.5 127.7
Research and development expenses 23.8 24.2 73.1 74.7
Gain on sale of long-lived assets (0.1) 40.0 0.3 40.5
Asbestos-related benefit, net (56.2) (4.3) (31.8) (10.5)
Operating income 152.5 137.8 329.1 328.7
Interest and non-operating (income) expenses, net (0.4) 0.7 (1.3) 4.0
Income from continuing operations before income tax expense 152.9 137.1 330.4 324.7
Income tax expense 34.1 25.9 73.1 42.4
Income from continuing operations 118.8 111.2 257.3 282.3
Loss from discontinued operations, net of tax (0.1) (0.1) (0.2) 0.0
Net income 118.7 111.1 257.1 282.3
Less: Income attributable to noncontrolling interests 0.1 0.2 0.4 0.5
Net income attributable to ITT Inc. 118.6 110.9 256.7 281.8
Amounts attributable to ITT Inc.:        
Income from continuing operations, net of tax 118.7 111.0 256.9 281.8
Loss from discontinued operations, net of tax (0.1) (0.1) (0.2) 0.0
Net income attributable to ITT Inc. $ 118.6 $ 110.9 $ 256.7 $ 281.8
Basic:        
Continuing operations $ 1.35 $ 1.27 $ 2.93 $ 3.21
Net income 1.35 1.27 2.93 3.21
Diluted:        
Continuing operations 1.34 1.25 2.90 3.18
Net income $ 1.34 $ 1.25 $ 2.90 $ 3.18
Weighted average common shares – basic 87.8 87.6 87.7 87.7
Weighted average common shares – diluted 88.7 88.7 88.6 88.7