XML 51 R2.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]    
Revenue $ 663.3 $ 695.5
Costs of revenue 453.9 476.7
Gross profit 209.4 218.8
General and administrative expenses 60.2 51.9
Sales and marketing expenses 41.6 40.2
Research and development expenses 22.7 23.5
Asbestos-related (benefit) costs, net (40.7) 12.6
Asset impairment charges 16.3 0.0
Operating income 109.3 90.6
Interest and non-operating expenses (income), net 0.6 (0.5)
Income from continuing operations before income tax expense 108.7 91.1
Income tax expense 24.7 19.7
Income from continuing operations 84.0 71.4
Income from discontinued operations, net of tax 1.1 0.0
Net income 85.1 71.4
Less: Income attributable to noncontrolling interests 0.3 0.1
Net income attributable to ITT Inc. 84.8 71.3
Amounts attributable to ITT Inc.:    
Income from continuing operations, net of tax 83.7 71.3
Income from discontinued operations, net of tax 1.1 0.0
Net income attributable to ITT Inc. $ 84.8 $ 71.3
Basic:    
Continuing operations $ 0.96 $ 0.81
Discontinued operations 0.01 0
Net income 0.97 0.81
Diluted:    
Continuing operations 0.95 0.80
Discontinued operations 0.01 0
Net income $ 0.96 $ 0.80
Weighted average common shares – basic 87.4 87.6
Weighted average common shares – diluted 88.2 88.6