XML 20 R2.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]      
Revenue $ 2,477.8 $ 2,846.4 $ 2,745.1
Costs of revenue 1,695.6 1,936.3 1,857.9
Gross profit 782.2 910.1 887.2
General and administrative expenses 200.7 240.3 253.9
Sales and marketing expenses 146.5 165.9 168.2
Research and development expenses 84.9 97.9 98.4
Asbestos-related costs (benefit), net 66.3 (20.2) 4.9
Restructuring costs 43.0 12.8 5.2
Asset impairment charges 16.3 1.0 0.0
(Gain) loss on sale or disposal of long-lived assets (2.0) 1.0 (40.7)
Operating income 226.5 411.4 397.3
Interest (income) expense, net (0.7) (4.1) 0.5
Non-operating postretirement costs 144.2 4.5 7.1
Nonoperating Income (Expense) (2.2) (3.4) (1.3)
Income from continuing operations before income tax 85.2 414.4 391.0
Income tax expense 15.3 89.9 57.7
Income from continuing operations 69.9 324.5 333.3
Income from discontinued operations, including tax (expense) benefit of $(0.2), $0.6, and $(0.3), respectively 4.0 1.7 1.3
Net income 73.9 326.2 334.6
Less: Income attributable to noncontrolling interests 1.4 1.1 0.9
Net income attributable to ITT Inc. 72.5 325.1 333.7
Amounts attributable to ITT Inc.:      
Income from continuing operations, net of tax 68.5 323.4 332.4
Net income attributable to ITT Inc. $ 72.5 $ 325.1 $ 333.7
Basic earnings per share:      
Continuing operations $ 0.79 $ 3.69 $ 3.79
Discontinued operations 0.05 0.02 0.02
Net income 0.84 3.71 3.81
Diluted earnings per share:      
Continuing operations 0.78 3.65 3.75
Discontinued operations 0.05 0.02 0.01
Net income $ 0.83 $ 3.67 $ 3.76
Weighted average common shares – basic 86.7 87.7 87.7
Weighted average common shares – diluted 87.3 88.6 88.7