Acquisitions Acquisitions (Notes)

12 Months Ended

Dec. 31, 2025

Acquisitions [Abstract]

Acquisitions and Investments Disclosure [Text Block]

ACQUISITIONS, INVESTMENTS, AND DIVESTITURES

Acquisition of kSARIA

On September 12, 2024, we completed the acquisition of 100% of the privately held stock of kSARIA for a purchase price of $460.1, net of cash acquired and including deferred consideration of $4.5 which was paid in 2025. kSARIA is a leading manufacturer of mission-critical cable assembly and networking application solutions primarily for the aerospace and defense market. kSARIA is headquartered in New Hampshire, with approximately 1,000 employees across five manufacturing sites in the U.S. and one in Mexico. Subsequent to the acquisition, kSARIA’s financial results are reported within our CCT segment.

The assets acquired and liabilities assumed for the kSARIA acquisition were recorded at fair value and are shown in the table below, including final adjustments to the purchase price during 2025. The impact to the current period income statement resulting from the adjustments was not material.

kSARIA - Allocation of Purchase Price	Preliminary 12/31/2024		2025 Adjustments		Final 12/31/2025
Receivables	$	26.7	$	(0.3)	$	26.4
Inventory	48.0		(9.6)		38.4
Plant, property and equipment	9.4		(0.3)		9.1
Goodwill(a)	244.3		(0.8)		243.5
Other intangible assets	185.1		—		185.1
Other assets	10.3		(0.3)		10.0
Accounts payable and accrued liabilities	(28.5)		(2.0)		(30.5)
Other liabilities	(30.5)		11.6		(18.9)
Contract liabilities	(3.0)		—		(3.0)
Net assets acquired	$	461.8	$	(1.7)	$	460.1

(a)    Goodwill acquired with kSARIA is primarily attributable to the complementary nature of its product portfolio to ITT’s existing connectors portfolio. Goodwill arising from the acquisition is not expected to be deductible for income tax purposes.

Acquisition of Svanehøj

On January 19, 2024, the Company completed the acquisition of 100% of the privately held stock of Svanehøj for a purchase price of $407.6, net of cash acquired of $28.0. Svanehøj is a Denmark-based supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector. Svanehøj employs approximately 400 employees and has operations in Denmark, Singapore and France. Subsequent to the acquisition, Svanehøj’s financial results are reported within our IP segment. As of December 31, 2024, the allocation of the purchase price to the assets acquired and liabilities assumed was finalized related to our acquisition of Svanehøj.

Acquisition of Micro-Mode

On May 2, 2023, the Company completed the acquisition of 100% of the privately held stock of Micro-Mode for a purchase price of $79.0, net of cash acquired. Micro-Mode is a specialty designer and manufacturer of high-bandwidth radio frequency (RF) connectors for harsh environment defense and space applications. Micro-Mode has a single manufacturing site near San Diego, California. Subsequent to the acquisition, Micro-Mode’s financial results are reported within our CCT segment.

Investments in CRP Technology and CRP USA (CRP)

During the second quarter of 2022, we purchased a minority investment of 46% in CRP Technology Srl and 33% in CRP USA LLC (collectively "CRP") for $23.0. CRP is a manufacturer of reinforced composite materials for 3D printing for the aerospace, defense, premium automotive, and motorsports industries. CRP's Windform® high-performance materials enable engineers to develop complex, customized designs while providing lightweight and exceptionally durable products. In both May 2023 and May 2024, ITT purchased an additional 9% of CRP USA LLC for $1.4. These additional investments brought ITT’s direct share ownership in CRP USA LLC to 51%. The investment in CRP USA LLC is accounted for as an equity method investment as we do not have control of the entity due to a supermajority board voting requirement.

Divestiture of Wolverine

On July 22, 2024, the Company sold its Wolverine business, formerly part of the MT segment, for a price of $186.2 (or $177.9, net of cash divested), resulting in a pre-tax gain of $47.8. In connection with the divestiture, cumulative translation losses of $3.6 were reclassified out of Accumulated Other Comprehensive Loss and included in the gain on sale. Subsequent to the sale, Wolverine will act as a third-party supplier to the Company’s MT segment.

Divestiture of Matrix Composites, Inc. (Matrix)

On December 29, 2023, the Company sold its Matrix business, an aerospace and defense components manufacturer within our CCT segment, to a third party for total cash proceeds of $1.0. In connection with this transaction, we recorded a pre-tax loss of $15.3.

Divestiture of Product Line

During the second quarter of 2023, we completed the sale of a product line within our CCT segment to a third party for $10.5. The Company determined that the product line met the definition of a business per ASC 805, Business Combinations. As a result of the transaction, we recognized a pre-tax gain on sale of $7.2.

Acquisition of SPX FLOW

On December 4, 2025, the Company entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with LSF11 Redwood Parent, L.P., LSF11 Redwood TopCo LLC (the “Target”) and ITT Industries Holdings, Inc., a wholly owned subsidiary of the Company to acquire SPX FLOW (the “Acquisition”), a subsidiary of the Target and a leading provider of pumps, valves, mixers, aftermarket services, and other flow and process solutions, for an aggregate purchase price of approximately $4,775 payable at closing of the Acquisition, comprised of $4,075 in cash and 3.8 shares of Company common stock subject to customary closing conditions, including regulatory approvals. The Acquisition is expected to close by the end of the first quarter of 2026.