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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Income from continuing operations attributable to ITT Inc. $ 83.7 $ 71.3
Adjustments to income from continuing operations:    
Depreciation and amortization 27.4 26.4
Equity-based compensation 2.5 4.5
Asbestos-related (benefit) costs, net (40.7) 12.6
Asset impairment charges 16.3 0.0
Other non-cash charges, net 11.0 7.9
Asbestos-related payments, net (6.1) (9.9)
Changes in assets and liabilities:    
Change in receivables (13.4) (47.1)
Change in inventories 0.6 (17.3)
Change in accounts payable (6.4) 18.8
Change in accrued expenses (25.2) (35.6)
Change in income taxes 16.5 9.5
Other, net (12.7) 1.0
Net Cash – Operating activities 53.5 42.1
Investing Activities    
Capital expenditures (22.2) (29.2)
Acquisitions, net of cash acquired (4.7) 0.0
Other, net 0.7 0.4
Net Cash – Investing activities (26.2) (28.8)
Financing Activities    
Commercial paper, net repayments (82.7) 0.0
Short-term revolving loans, borrowings 378.3 0.0
Long-term debt, issued 0.0 7.1
Long-term debt, repayments 0.0 (0.2)
Repurchase of common stock (83.4) (19.9)
Proceeds from issuance of common stock 0.1 5.1
Dividends paid (0.2) (13.2)
Other, net (0.1) 0.1
Net Cash – Financing activities 212.0 (21.0)
Exchange rate effects on cash and cash equivalents (11.7) 0.7
Net Cash – Operating activities of discontinued operations 0.2 (0.4)
Net change in cash and cash equivalents 227.8 (7.4)
Cash and cash equivalents – beginning of year (includes restricted cash of $0.8 and $1.0, respectively) 612.9 562.2
Cash and cash equivalents – end of period (includes restricted cash of $0.8 and $0.8, respectively) 840.7 554.8
Cash paid during the year for:    
Interest 2.3 1.0
Income taxes, net of refunds received $ 8.0 $ 9.3