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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Oct. 02, 2021
Sep. 26, 2020
Oct. 02, 2021
Sep. 26, 2020
Income Statement [Abstract]        
Revenue $ 689.6 $ 591.2 $ 2,079.6 $ 1,769.2
Costs of revenue 467.6 400.6 1,404.0 1,205.6
Gross profit 222.0 190.6 675.6 563.6
General and administrative expenses 55.9 47.1 168.2 148.8
Sales and marketing expenses 37.4 33.4 112.4 110.7
Research and development expenses 22.5 19.7 70.0 61.3
Asbestos-related costs (benefit), net 0.0 141.4 (74.4) 116.7
Restructuring costs 4.5 11.5 8.2 42.5
Asset impairment charges 0.0 0.0 0.0 16.3
Operating income (loss) 101.7 (62.5) 391.2 67.3
Interest and non-operating expenses (income), net 0.5 1.2 (4.3) 4.0
Income (loss) from continuing operations before income tax expense (benefit) 101.2 (63.7) 395.5 63.3
Income tax expense (benefit) 14.1 (16.2) 182.7 (19.6)
Income (loss) from continuing operations 87.1 (47.5) 212.8 82.9
Income from discontinued operations, net of tax 0.9 1.2 0.9 3.9
Net income (loss) 88.0 (46.3) 213.7 86.8
Less: Income attributable to noncontrolling interests 0.5 0.5 1.0 0.8
Net income attributable to ITT Inc. 87.5 (46.8) 212.7 86.0
Amounts attributable to ITT Inc.:        
Income (loss) from continuing operations, net of tax 86.6 (48.0) 211.8 82.1
Income from discontinued operations, net of tax 0.9 1.2 0.9 3.9
Net income attributable to ITT Inc. $ 87.5 $ (46.8) $ 212.7 $ 86.0
Basic:        
Continuing operations $ 1.01 $ (0.55) $ 2.46 $ 0.95
Discontinued operations 0.01 0.01 0.01 0.04
Net income (loss) 1.02 (0.54) 2.47 0.99
Diluted:        
Continuing operations 1.00 (0.55) 2.45 0.94
Discontinued operations 0.01 0.01 0.01 0.04
Net income (loss) $ 1.01 $ (0.54) $ 2.46 $ 0.98
Weighted average common shares – basic 85.9 86.4 86.1 86.8
Weighted average common shares – diluted 86.3 86.4 86.6 87.4