XML 14 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Income Statement [Abstract]        
Revenue $ 905.9 $ 833.9 $ 1,816.5 $ 1,631.8
Cost of revenue 589.8 553.9 1,199.6 1,089.9
Gross profit 316.1 280.0 616.9 541.9
General and administrative expenses 76.8 68.4 148.3 136.7
Sales and marketing expenses 50.6 43.9 100.7 86.8
Research and development expenses 29.7 25.7 59.7 52.1
Operating income 159.0 142.0 308.2 266.3
Interest Expense 7.4 4.5 15.1 11.2
Interest Income, Operating (1.6) (2.0) (3.4) (4.6)
Other Nonoperating Income (Expense) (0.2) 0.0 (1.7) (0.6)
Income before income tax expense 153.4 139.5 298.2 260.3
Income tax expense 33.0 30.6 65.8 50.7
Net income 120.4 108.9 232.4 209.6
Less: Income attributable to noncontrolling interests 1.2 0.7 2.2 1.4
Net income attributable to ITT Inc. $ 119.2 $ 108.2 $ 230.2 $ 208.2
Earnings per share attributable to ITT Inc.:        
Basic $ 1.45 $ 1.31 $ 2.80 $ 2.52
Diluted $ 1.45 $ 1.31 $ 2.79 $ 2.51
Weighted average common shares – basic 82.0 82.4 82.1 82.5
Weighted average common shares – diluted 82.4 82.6 82.5 82.8