Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

The impact of the change in accounting method on our previously issued financial statements is presented in the following tables:


	Year ended December 31, 2024						Year Ended December 31, 2023
Consolidated Statements of Operations	As Computed LIFO		As Computed FIFO		Effect of change		As Computed LIFO		As Computed FIFO		Effect of change
Cost of revenue	$	2,383.4	$	2,381.3	$	(2.1)	$	2,175.7	$	2,173.4	$	(2.3)
Gross profit	1,247.3		1,249.4		2.1		1,107.3		1,109.6		2.3
Operating income	676.0		678.1		2.1		528.2		530.5		2.3
Income from continuing operations before income taxes	647.6		649.7		2.1		519.5		521.8		2.3
Income tax expense	125.8		126.3		0.5		104.8		105.4		0.6
Income from continuing operations	521.8		523.4		1.6		414.7		416.4		1.7
Net Income	521.7		523.3		1.6		413.8		415.5		1.7
Net income attributable to ITT Inc.	518.3		519.9		1.6		410.5		412.2		1.7
Income from continuing operations, net of tax	$	518.4	$	520.0	$	1.6	$	411.4	$	413.1	$	1.7

Earnings per share attributable to ITT Inc.:
Basic:
Continuing Operations	$	6.34	$	6.36	$	0.02	$	5.00	$	5.02	$	0.02

Net Income	$	6.34	$	6.36	$	0.02	$	4.99	$	5.01	$	0.02

Diluted:
Continuing operations	$	6.30	$	6.32	$	0.02	$	4.97	$	5.00	$	0.03

Net income	$	6.30	$	6.32	$	0.02	$	4.96	$	4.98	$	0.02

Consolidated Statements of Comprehensive Income
Net income	$	521.7	$	523.3	$	1.6	$	413.8	$	415.5	$	1.7
Comprehensive income	435.3		436.9		1.6		426.2		427.9		1.7
Comprehensive income attributable to ITT Inc.	$	431.9	$	433.5	$	1.6	$	422.9	$	424.6	$	1.7

Consolidated Statements of Cash Flows
Income from continuing operations	$	518.4	$	520.0	$	1.6	$	411.4	$	413.1	$	1.7
Change in inventories	$	2.0	$	—	$	(2.0)	$	(34.4)	$	(36.7)	$	(2.3)
Change in income taxes	$	(2.1)	$	(1.6)	$	0.5	$	5.4	$	6.0	$	0.6


	As of December 31, 2024
Consolidated Balance Sheet	As Computed LIFO		As Computed FIFO		Effect of change
Inventories, net	$	591.2	$	612.3	$	21.1
Total current assets	1,864.7		1,885.8		21.1
Other non-current assets	384.6		384.1		(0.5)
Total non-current assets	2,846.0		2,845.5		(0.5)
Total assets	4,710.7		4,731.3		20.6
Other non-current liabilities	256.3		260.7		4.4
Total non-current liabilities	607.9		612.3		4.4
Total liabilities	1,941.1		1,945.5		4.4
Retained Earnings	3,099.4		3,115.6		16.2
Total ITT Inc. shareholders' equity	2,762.6		2,778.8		16.2
Total shareholders' equity	2,769.6		2,785.8		16.2
Total liabilities and equity	$	4,710.7	$	4,731.3	$	20.6