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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Income from continuing operations attributable to ITT Inc. $ 82.1 $ 256.9
Adjustments to income from continuing operations:    
Depreciation and amortization 82.0 81.1
Equity-based compensation 9.7 12.3
Asbestos-related costs (benefit), net 116.7 (31.8)
Asset impairment charges 16.3 1.0
Other non-cash charges, net 33.5 24.9
Asbestos-related payments, net (8.9) (20.1)
Payment for Pension and Other Postretirement Benefits (7.2) (19.7)
Changes in assets and liabilities:    
Change in receivables 77.8 (41.9)
Change in inventories 13.8 (28.2)
Increase (Decrease) in Contract with Customer, Asset 0.4 (13.4)
Increase (Decrease) in Contract with Customer, Liability 1.7 (9.1)
Change in accounts payable (34.8) 3.6
Change in accrued expenses 15.2 (7.2)
Change in income taxes (63.9) 23.3
Other, net (16.3) (10.0)
Net Cash – Operating activities 318.1 221.7
Investing Activities    
Capital expenditures (47.6) (69.3)
Acquisitions, net of cash acquired (4.7) (113.1)
Other, net 1.9 1.6
Net Cash – Investing activities (50.4) (180.8)
Financing Activities    
Commercial paper, net borrowings 30.7 11.5
Short-term revolving loans, borrowings 495.8 0.0
Short-term revolving loans, repayments (524.7) 0.0
Long-term debt, issued 1.5 7.1
Long-term debt, repayments (1.3) (2.1)
Repurchase of common stock (83.9) (38.3)
Proceeds from issuance of common stock 1.7 11.6
Dividends paid (29.7) (26.1)
Other, net 0.0 (0.6)
Net Cash – Financing activities (109.9) (36.9)
Exchange rate effects on cash and cash equivalents 12.2 (10.6)
Net Cash – Operating activities of discontinued operations 0.2 1.1
Net change in cash and cash equivalents 170.2 (5.5)
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 $1.0, respectively) 783.1 556.7
Cash paid during the year for:    
Interest 2.6 2.2
Income taxes, net of refunds received $ 40.9 $ 47.9