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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Income from continuing operations attributable to ITT Inc. $ 130,100,000 $ 138,200,000
Adjustments to income from continuing operations:    
Depreciation and amortization 54,500,000 53,000,000.0
Equity-based compensation 5,800,000 8,400,000
Asbestos-related costs (benefit), net (24,700,000) 24,400,000
Asset impairment charges 16,300,000 0
Other non-cash charges, net 23,500,000 15,600,000
Asbestos-related payments, net (7,600,000) (15,800,000)
Changes in assets and liabilities:    
Change in receivables 97,200,000 (52,900,000)
Change in inventories 2,000,000.0 (27,400,000)
Change in accounts payable (62,300,000) 11,400,000
Change in accrued expenses 5,700,000 (28,100,000)
Change in income taxes (17,500,000) 3,700,000
Other, net (19,900,000) (29,400,000)
Net Cash – Operating activities 203,100,000 101,100,000
Investing Activities    
Capital expenditures (34,300,000) (45,800,000)
Acquisitions, net of cash acquired (4,700,000) (87,300,000)
Other, net 1,900,000 800,000
Net Cash – Investing activities (37,100,000) (132,300,000)
Financing Activities    
Commercial paper, net borrowings 51,000,000.0 33,700,000
Short-term revolving loans, borrowings 495,800,000 0
Short-term revolving loans, repayments (406,200,000) 0
Long-term debt, issued 0 7,100,000
Long-term debt, repayments (1,200,000) (2,000,000.0)
Repurchase of common stock (83,700,000) (20,000,000.0)
Proceeds from issuance of common stock 100,000 8,300,000
Dividends paid (14,600,000) (26,100,000)
Other, net 0 (600,000)
Net Cash – Financing activities 41,200,000 400,000
Exchange rate effects on cash and cash equivalents (200,000) 600,000
Net Cash – Operating activities of discontinued operations 100,000 1,200,000
Net change in cash and cash equivalents 207,100,000 (29,000,000.0)
Cash and cash equivalents – beginning of year (includes restricted cash of $0.8 and $1.0, respectively) 612,900,000 562,200,000
Cash and cash equivalents – end of period (includes restricted cash of $0.9 and $1.3, respectively) 820,000,000.0 533,200,000
Cash paid during the year for:    
Interest 1,200,000 1,700,000
Income taxes, net of refunds received $ 10,700,000 $ 33,700,000