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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
Income Statement [Abstract]        
Revenue $ 833.9 $ 733.3 $ 1,631.8 $ 1,459.5
Cost of revenue 553.9 511.1 1,089.9 1,018.9
Gross profit 280.0 222.2 541.9 440.6
General and administrative expenses 68.4 57.0 136.7 117.4
Sales and marketing expenses 43.9 40.4 86.8 78.8
Research and development expenses 25.7 24.3 52.1 49.3
Operating income 142.0 100.5 266.3 195.1
Interest and non-operating expense, net 2.5 0.5 6.0 0.3
Income from continuing operations before income tax expense 139.5 100.0 260.3 194.8
Income tax expense 30.6 24.0 50.7 43.5
Income from continuing operations 108.9 76.0 209.6 151.3
Loss from discontinued operations, net of tax benefit of $0.0, $0.4, $0.0, and $0.4, respectively 0.0 (1.2) 0.0 (1.2)
Net income 108.9 74.8 209.6 150.1
Less: Income attributable to noncontrolling interests 0.7 0.2 1.4 0.7
Net income attributable to ITT Inc. 108.2 74.6 208.2 149.4
Amounts attributable to ITT Inc.:        
Income from continuing operations 108.2 75.8 208.2 150.6
Loss from discontinued operations, net of tax 0.0 (1.2) 0.0 (1.2)
Net income attributable to ITT Inc. $ 108.2 $ 74.6 $ 208.2 $ 149.4
Basic:        
Continuing operations $ 1.31 $ 0.91 $ 2.52 $ 1.79
Discontinued operations 0 (0.01) 0 (0.01)
Earnings Per Share, Basic, Total 1.31 0.90 2.52 1.78
Diluted:        
Continuing operations 1.31 0.91 2.51 1.79
Discontinued operations 0 (0.02) 0 (0.02)
Earnings Per Share, Diluted, Total $ 1.31 $ 0.89 $ 2.51 $ 1.77
Weighted average common shares – basic 82.4 83.1 82.5 84.0
Weighted average common shares – diluted 82.6 83.4 82.8 84.3