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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 03, 2021
Jun. 27, 2020
Jul. 03, 2021
Jun. 27, 2020
Income Statement [Abstract]        
Revenue $ 691.6 $ 514.7 $ 1,390.0 $ 1,178.0
Costs of revenue 467.0 351.1 936.4 805.0
Gross profit 224.6 163.6 453.6 373.0
General and administrative expenses 60.2 44.6 112.3 101.7
Sales and marketing expenses 38.3 35.7 75.0 77.3
Research and development expenses 23.2 18.9 47.5 41.6
Asbestos-related (benefit) costs, net (76.8) 16.0 (74.4) (24.7)
Restructuring costs 0.1 27.9 3.7 31.0
Asset impairment charges 0.0 0.0 0.0 16.3
Operating income 179.6 20.5 289.5 129.8
Interest and non-operating (income) expenses, net (3.5) 2.2 (4.8) 2.8
Income from continuing operations before income tax expense 183.1 18.3 294.3 127.0
Income tax expense (benefit) 143.9 (28.1) 168.6 (3.4)
Income from continuing operations 39.2 46.4 125.7 130.4
Income from discontinued operations, net of tax 0.0 1.6 0.0 2.7
Net income 39.2 48.0 125.7 133.1
Less: Income attributable to noncontrolling interests 0.2 0.0 0.5 0.3
Net income attributable to ITT Inc. 39.0 48.0 125.2 132.8
Amounts attributable to ITT Inc.:        
Income from continuing operations, net of tax 39.0 46.4 125.2 130.1
Income from discontinued operations, net of tax 0.0 1.6 0.0 2.7
Net income attributable to ITT Inc. $ 39.0 $ 48.0 $ 125.2 $ 132.8
Basic earnings per share:        
Continuing operations $ 0.45 $ 0.54 $ 1.45 $ 1.50
Discontinued operations 0 0.02 0 0.03
Net income 0.45 0.56 1.45 1.53
Diluted earnings per share:        
Continuing operations 0.45 0.53 1.44 1.49
Discontinued operations 0 0.02 0 0.03
Net income $ 0.45 $ 0.55 $ 1.44 $ 1.52
Weighted average common shares – basic 86.1 86.3 86.2 87.0
Weighted average common shares – diluted 86.5 86.8 86.7 87.6