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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Income from continuing operations attributable to ITT Inc. $ 86,200,000 $ 83,700,000
Adjustments to income from continuing operations:    
Depreciation and amortization 28,500,000 27,400,000
Equity-based compensation 3,300,000 2,500,000
Asbestos-related costs (benefit), net 2,400,000 (40,700,000)
Asset impairment charges 0 16,300,000
Other non-cash charges, net 6,300,000 11,000,000.0
Asbestos-related payments, net (1,600,000) (6,100,000)
Changes in assets and liabilities:    
Change in receivables (50,100,000) (13,400,000)
Change in inventories (21,200,000) 600,000
Change in accounts payable 36,600,000 (6,400,000)
Change in accrued expenses (14,500,000) (25,200,000)
Change in income taxes 10,400,000 16,500,000
Other, net (15,500,000) (12,700,000)
Net Cash – Operating Activities 70,800,000 53,500,000
Investing Activities    
Capital expenditures (17,200,000) (22,200,000)
Acquisitions, net of cash acquired 0 (4,700,000)
Other, net 100,000 700,000
Net Cash – Investing Activities (17,100,000) (26,200,000)
Financing Activities    
Commercial paper, net borrowings (42,600,000) (82,700,000)
Short-term revolving loans, borrowings 0 378,300,000
Long-term debt, repayments (100,000) 0
Repurchase of common stock (61,000,000.0) (83,400,000)
Proceeds from issuance of common stock 200,000 100,000
Dividends paid (19,100,000) (200,000)
Other, net (200,000) (100,000)
Net Cash – Financing Activities (122,800,000) 212,000,000.0
Exchange rate effects on cash and cash equivalents (10,400,000) (11,700,000)
Net cash – operating activities of discontinued operations (100,000) 200,000
Net change in cash and cash equivalents (79,600,000) 227,800,000
Cash and cash equivalents – beginning of year (includes restricted cash of $0.8 and $0.8, respectively) 860,600,000 612,900,000
Cash and Cash Equivalents – End of Period (includes restricted cash of $0.8 and $0.8, respectively) 781,000,000.0 840,700,000
Cash paid during the year for:    
Interest 200,000 2,300,000
Income taxes, net of refunds received $ 13,400,000 $ 8,000,000.0