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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Revenue $ 514,700,000 $ 719,900,000 $ 1,178,000,000.0 $ 1,415,400,000
Costs of revenue 351,100,000 487,900,000 805,000,000.0 964,600,000
Gross profit 163,600,000 232,000,000.0 373,000,000.0 450,800,000
General and administrative expenses 44,600,000 62,600,000 101,700,000 113,400,000
Sales and marketing expenses 35,700,000 42,700,000 77,300,000 82,900,000
Research and development expenses 18,900,000 25,800,000 41,600,000 49,300,000
Asbestos-related costs (benefit), net 16,000,000.0 11,800,000 (24,700,000) 24,400,000
Restructuring costs 27,900,000 3,100,000 31,000,000.0 4,200,000
Asset impairment charges 0 0 16,300,000 0
Operating income 20,500,000 86,000,000.0 129,800,000 176,600,000
Interest and non-operating expenses (income), net 2,200,000 (400,000) 2,800,000 (900,000)
Income from continuing operations before income tax expense 18,300,000 86,400,000 127,000,000.0 177,500,000
Income tax (benefit) expense (28,100,000) 19,300,000 (3,400,000) 39,000,000.0
Income from continuing operations 46,400,000 67,100,000 130,400,000 138,500,000
Income from discontinued operations, net of tax 1,600,000 (100,000) 2,700,000 (100,000)
Net income 48,000,000.0 67,000,000.0 133,100,000 138,400,000
Less: Income attributable to noncontrolling interests 0 200,000 300,000 300,000
Net income attributable to ITT Inc. 48,000,000.0 66,800,000 132,800,000 138,100,000
Amounts attributable to ITT Inc.:        
Income from continuing operations, net of tax 46,400,000 66,900,000 130,100,000 138,200,000
Income from discontinued operations, net of tax 1,600,000 (100,000) 2,700,000 (100,000)
Net income attributable to ITT Inc. $ 48,000,000.0 $ 66,800,000 $ 132,800,000 $ 138,100,000
Basic:        
Continuing operations $ 0.54 $ 0.76 $ 1.50 $ 1.58
Discontinued operations 0.02 0 0.03 0
Net income 0.56 0.76 1.53 1.58
Diluted:        
Continuing operations 0.53 0.75 1.49 1.56
Discontinued operations 0.02 0 0.03 0
Net income $ 0.55 $ 0.75 $ 1.52 $ 1.56
Weighted average common shares – basic 86.3 87.8 87.0 87.7
Weighted average common shares – diluted 86.8 88.7 87.6 88.6