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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]      
Revenue $ 2,846.4 $ 2,745.1 $ 2,585.3
Costs of revenue 1,936.3 1,857.9 1,765.4
Gross profit 910.1 887.2 819.9
General and administrative expenses 254.1 259.1 258.4
Sales and marketing expenses 165.9 168.2 169.5
Research and development expenses 97.9 98.4 93.5
Loss (gain) on sale or disposal of long-lived assets 1.0 (40.7) (0.9)
Asbestos-related (benefit) cost, net (20.2) 4.9 (19.9)
Operating income 411.4 397.3 319.3
Interest and non-operating (income) expenses, net (3.0) 6.3 9.9
Income from continuing operations before income tax 414.4 391.0 309.4
Income tax expense 89.9 57.7 194.6
Income from continuing operations 324.5 333.3 114.8
Income (loss) from discontinued operations, including tax benefit (expense) of $0.6, $(0.3), and $1.9, respectively 1.7 1.3 (1.5)
Net income 326.2 334.6 113.3
Less: Income (loss) attributable to noncontrolling interests 1.1 0.9 (0.2)
Net income attributable to ITT Inc. 325.1 333.7 113.5
Amounts attributable to ITT Inc.:      
Income from continuing operations, net of tax 323.4 332.4 115.0
Net income attributable to ITT Inc. $ 325.1 $ 333.7 $ 113.5
Basic earnings per share:      
Continuing operations $ 3.69 $ 3.79 $ 1.30
Discontinued operations 0.02 0.02 (0.01)
Net income 3.71 3.81 1.29
Diluted earnings per share:      
Continuing operations 3.65 3.75 1.29
Discontinued operations 0.02 0.01 (0.01)
Net income $ 3.67 $ 3.76 $ 1.28
Weighted average common shares – basic 87.7 87.7 88.3
Weighted average common shares – diluted 88.6 88.7 89.0