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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Jul. 02, 2022
Jul. 03, 2021
Income Statement [Abstract]        
Revenue $ 733.3 $ 691.6 $ 1,459.5 $ 1,390.0
Cost of revenue 511.1 467.0 1,018.9 936.4
Gross profit 222.2 224.6 440.6 453.6
General and administrative expenses 57.0 60.3 117.4 116.0
Sales and marketing expenses 40.4 38.3 78.8 75.0
Research and development expenses 24.3 23.2 49.3 47.5
Asbestos-related benefit, net 0.0 (76.8) 0.0 (74.4)
Operating income 100.5 179.6 195.1 289.5
Interest and non-operating expense (income), net 0.5 (3.5) 0.3 (4.8)
Income from continuing operations before income tax expense 100.0 183.1 194.8 294.3
Income tax expense 24.0 143.9 43.5 168.6
Income from continuing operations 76.0 39.2 151.3 125.7
Loss from discontinued operations, net of tax benefit of $0.4, $0.0, $0.4, and $0.0, respectively (1.2) 0.0 (1.2) 0.0
Net income 74.8 39.2 150.1 125.7
Less: Income attributable to noncontrolling interests 0.2 0.2 0.7 0.5
Net income attributable to ITT Inc. 74.6 39.0 149.4 125.2
Amounts attributable to ITT Inc.: [Abstract]        
Income from continuing operations 75.8 39.0 150.6 125.2
Loss from discontinued operations, net of tax (1.2) 0.0 (1.2) 0.0
Net income attributable to ITT Inc. $ 74.6 $ 39.0 $ 149.4 $ 125.2
Basic:        
Continuing operations $ 0.91 $ 0.45 $ 1.79 $ 1.45
Discontinued operations (0.01) 0 (0.01) 0
Net income 0.90 0.45 1.78 1.45
Diluted:        
Continuing operations 0.91 0.45 1.79 1.44
Discontinued operations (0.02) 0 (0.02) 0
Net income $ 0.89 $ 0.45 $ 1.77 $ 1.44
Weighted average common shares – basic 83.1 86.1 84.0 86.2
Weighted average common shares – diluted 83.4 86.5 84.3 86.7