XML 12 R2.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Sep. 30, 2023
Oct. 01, 2022
Income Statement [Abstract]        
Revenue $ 822.1 $ 753.6 $ 2,453.9 $ 2,213.1
Cost of revenue 542.7 520.2 1,632.6 1,539.1
Gross profit 279.4 233.4 821.3 674.0
General and administrative expenses 66.9 47.5 203.6 164.9
Sales and marketing expenses 44.4 39.5 131.2 118.3
Research and development expenses 25.0 24.4 77.1 73.7
Operating income 143.1 122.0 409.4 317.1
Interest and non-operating expense, net 1.4 2.3 7.4 2.6
Income from continuing operations before income tax expense 141.7 119.7 402.0 314.5
Income tax expense 29.9 16.4 80.6 59.9
Income from continuing operations 111.8 103.3 321.4 254.6
Loss from discontinued operations, net of tax benefit of $0.0, $(0.1), $0.0, and $0.3, respectively 0.0 (0.1) 0.0 (1.3)
Net income 111.8 103.2 321.4 253.3
Less: Income attributable to noncontrolling interests 1.0 0.8 2.4 1.5
Net income attributable to ITT Inc. 110.8 102.4 319.0 251.8
Amounts attributable to ITT Inc.:        
Income from continuing operations 110.8 102.5 319.0 253.1
Loss from discontinued operations, net of tax 0.0 (0.1) 0.0 (1.3)
Net income attributable to ITT Inc. $ 110.8 $ 102.4 $ 319.0 $ 251.8
Basic:        
Continuing operations $ 1.35 $ 1.24 $ 3.87 $ 3.03
Discontinued operations 0 0 0 (0.02)
Earnings Per Share, Basic, Total 1.35 1.24 3.87 3.01
Diluted:        
Continuing operations 1.34 1.23 3.86 3.02
Discontinued operations 0 0 0 (0.02)
Earnings Per Share, Diluted, Total $ 1.34 $ 1.23 $ 3.86 $ 3.00
Weighted average common shares – basic 82.1 82.7 82.4 83.6
Weighted average common shares – diluted 82.5 83.0 82.7 83.9