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ITT INC   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date12/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/2011
Service revenues--------------------
Product sales--------------------
Revenue2,477.802,846.402,745.102,585.302,405.402,485.602,654.602,496.902,227.802,085.60
Sales and revenues2,477.802,846.402,745.102,585.302,405.402,485.602,654.602,496.902,227.802,085.60
Costs of sales and revenues----------1,676.501,788.201,697.101,547.601,440.60
Costs of product sales--------------------
Costs of service revenues1,695.601,936.301,857.901,765.401,644.50----------
Gross Profit782.20910.10887.20819.90760.90809.10866.40799.80680.20645.00
Goodwill amortization expense--------------------
Research, development, and engineering expenses84.9097.9098.4093.5080.5078.9076.6067.3062.7063.50
Selling, general, and administrative expenses200.70240.30253.90258.40260.50258.30300.10299.90234.70166.30
Sales and marketing expenses146.50165.90168.20169.50169.80183.20219.40216.20180.40163.60
Restructuring and asset impairment charges43.0012.805.20--------------
Asbestos-related costs, net66.30(20.20)4.90(19.90)(25.60)(91.40)3.9032.8050.90100.40
Asset impairment charges(16.30)(1.00)0.00--------------
Gain on sale of long-lived assets2.00(1.00)40.700.900.90----------
Transformation Costs------------------(396.10)
Operating (loss) income226.50411.40397.30319.30276.60380.10266.40183.60151.50(244.90)
Interest expense(0.70)(4.10)0.509.9018.20(2.20)4.40--0.1076.40
Gain on sale of investments--------------------
Interest income--------------(3.10)2.804.10
Miscellaneous (expense) income2.203.401.30----------(5.10)1.30
Non-operating postretirement costs(144.20)(4.50)(7.10)--------------
Pre-Tax Income - Foreign--------170.90--217.50--116.10148.50
Income from continuing operations before income taxes85.20414.40391.00309.40258.40382.30262.00180.50149.10(315.90)
Pre-Tax Income - U.S--------87.50--44.50--33.00(464.40)
Current- U.S. Federal9.909.406.30--4.30(8.50)16.2010.60(32.60)(78.90)
Current- Foreign50.8049.1058.20--51.1052.9054.6039.6046.8049.20
Deferred: Foreign(2.50)19.30(21.90)--(3.40)(12.30)(4.70)3.90(15.90)(1.20)
Deferred- U.S. Federal(36.60)10.107.40--26.4031.90(0.60)(331.20)40.10318.20
Current: State and local(1.50)0.507.90--(0.30)0.100.704.20(8.70)(12.10)
Deferred: State and Local(4.80)1.50(0.20)--(2.10)6.005.10(36.70)9.90(14.60)
Income tax expense (benefit)15.3089.9057.70194.6076.0070.1071.30(309.60)39.60260.60
Income from Continuing Operations69.90324.50333.30114.80182.40312.20190.70490.10109.50(576.50)
Income (loss) from discontinued operations, net of tax4.001.701.30(1.50)4.2039.40(3.90)0.80----
Income (loss) from discontinued operations, including a tax benefit----------------15.90447.00
Cumulative effect of change in accounting principle, net of tax benefit--------------------
Net Income (Loss)73.90326.20334.60113.30186.60351.60186.80490.90125.40(129.50)
Income attributable to non-controlling interest1.401.100.90(0.20)0.50(0.20)2.302.400.00--
Net Income (Loss) Available to Common Shareholders72.50325.10333.70113.50186.10351.80184.50488.50125.40(129.50)
Income from continuing operations: Basic0.793.693.791.302.043.482.065.361.18(6.22)
Discontinued operations: Basic0.050.020.02(0.01)0.050.44(0.04)0.010.174.82
Cumulative effect of change in accounting principle: Basic--------------------
Net income: Basic0.843.713.811.292.093.922.025.371.35(1.40)
Income from continuing operations: Diluted0.783.653.751.292.023.442.035.281.16(6.22)
Discontinued operations: Diluted0.050.020.01(0.01)0.050.44(0.04)0.010.174.82
Cumulative effect of change in accounting principle: Diluted--------------------
Net income: Diluted0.833.673.761.282.073.881.995.291.33(1.40)
Average Common Shares -- Basic86.7087.7087.7088.3089.2089.8091.5091.0093.0092.80
Average Common Shares -- Diluted87.3088.6088.7089.0089.9090.7092.8092.3094.1092.80