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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Revenue $ 591,200,000 $ 711,900,000 $ 1,769,200,000 $ 2,127,300,000
Costs of revenue 400,600,000 480,600,000 1,205,600,000 1,445,200,000
Gross profit 190,600,000 231,300,000 563,600,000 682,100,000
General and administrative expenses 47,100,000 61,900,000 148,800,000 175,300,000
Sales and marketing expenses 33,400,000 41,600,000 110,700,000 124,500,000
Research and development expenses 19,700,000 23,800,000 61,300,000 73,100,000
Asbestos-related costs (benefit), net 141,400,000 (56,200,000) 116,700,000 (31,800,000)
Restructuring costs 11,500,000 6,700,000 42,500,000 10,900,000
Asset impairment charges 0 1,000,000.0 16,300,000 1,000,000.0
Operating (loss) income (62,500,000) 152,500,000 67,300,000 329,100,000
Interest and non-operating expenses (income), net 1,200,000 (400,000) 4,000,000.0 (1,300,000)
(Loss) income from continuing operations before income tax expense (63,700,000) 152,900,000 63,300,000 330,400,000
Income tax (benefit) expense (16,200,000) 34,100,000 (19,600,000) 73,100,000
(Loss) income from continuing operations (47,500,000) 118,800,000 82,900,000 257,300,000
Income (loss) from discontinued operations, net of tax 1,200,000 (100,000) 3,900,000 (200,000)
Net (loss) income (46,300,000) 118,700,000 86,800,000 257,100,000
Less: Income attributable to noncontrolling interests 500,000 100,000 800,000 400,000
Net income attributable to ITT Inc. (46,800,000) 118,600,000 86,000,000.0 256,700,000
Amounts attributable to ITT Inc.:        
(Loss) income from continuing operations, net of tax (48,000,000.0) 118,700,000 82,100,000 256,900,000
Income (loss) from discontinued operations, net of tax 1,200,000 (100,000) 3,900,000 (200,000)
Net income attributable to ITT Inc. $ (46,800,000) $ 118,600,000 $ 86,000,000.0 $ 256,700,000
Basic:        
Continuing operations $ (0.55) $ 1.35 $ 0.95 $ 2.93
Discontinued operations 0.01 0 0.04 0
Net (loss) income (0.54) 1.35 0.99 2.93
Diluted:        
Continuing operations (0.55) 1.34 0.94 2.90
Discontinued operations 0.01 0 0.04 0
Net (loss) income $ (0.54) $ 1.34 $ 0.98 $ 2.90
Weighted average common shares – basic 86.4 87.8 86.8 87.7
Weighted average common shares – diluted 86.4 88.7 87.4 88.6