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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]      
Revenue $ 2,987.7 $ 2,765.0 $ 2,477.8
Costs of revenue 2,065.4 1,865.5 1,695.6
Gross profit 922.3 899.5 782.2
General and administrative expenses 211.6 221.3 200.7
Sales and marketing expenses 156.9 150.8 146.5
Research and development expenses 96.5 94.9 84.9
Gain on sale of long-lived assets (16.3) (7.0) (2.0)
Asbestos-related (benefit) costs, net 0.0 (74.4) 66.3
Restructuring costs 3.8 9.6 43.0
Asset impairment charges 1.8 0.0 16.3
Operating income 468.0 504.3 226.5
Interest expense (income), net 6.4 (1.1) (0.7)
Non-operating postretirement costs (benefit), net 1.1 (1.3) 144.2
Miscellaneous income, net (1.3) (2.4) (2.2)
Income from continuing operations before income tax 461.8 509.1 85.2
Income tax expense 91.1 189.6 15.3
Income from continuing operations 370.7 319.5 69.9
(Loss) income from discontinued operations, net of tax benefit (expense) of $0.4, $0.2, and $(0.2), respectively (1.3) 1.5 4.0
Net income 369.4 321.0 73.9
Less: Income attributable to noncontrolling interests 2.4 4.7 1.4
Net income attributable to ITT Inc. 367.0 316.3 72.5
Amounts attributable to ITT Inc.:      
Income from continuing operations, net of tax 368.3 314.8 68.5
(Loss) income from discontinued operations, net of tax (1.3) 1.5 4.0
Net income attributable to ITT Inc. $ 367.0 $ 316.3 $ 72.5
Basic:      
Continuing operations $ 4.42 $ 3.66 $ 0.79
Discontinued operations (0.02) 0.02 0.05
Net income 4.40 3.68 0.84
Diluted:      
Continuing operations 4.40 3.64 0.78
Discontinued operations (0.02) 0.02 0.05
Net income $ 4.38 $ 3.66 $ 0.83
Weighted average common shares – basic 83.4 86.0 86.7
Weighted average common shares – diluted 83.7 86.5 87.3