$ITT
ITT INC.

2014 Q1 Form 10-Q Financial Statement

#000021622814000017 Filed on May 01, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $674.5M $608.2M
YoY Change 10.9% 7.06%
Cost Of Revenue $459.7M $417.7M
YoY Change 10.06% 4.98%
Gross Profit $214.8M $190.5M
YoY Change 12.76% 11.93%
Gross Profit Margin 31.85% 31.32%
Selling, General & Admin $133.0M $120.9M
YoY Change 10.01% 15.36%
% of Gross Profit 61.92% 63.46%
Research & Development $17.70M $16.40M
YoY Change 7.93% 1.86%
% of Gross Profit 8.24% 8.61%
Depreciation & Amortization $21.10M $24.50M
YoY Change -13.88% 51.23%
% of Gross Profit 9.82% 12.86%
Operating Expenses $150.7M $137.3M
YoY Change 9.76% 13.56%
Operating Profit $48.30M $37.20M
YoY Change 29.84% 1.36%
Interest Expense -$1.100M -$2.700M
YoY Change -59.26% 68.75%
% of Operating Profit -2.28% -7.26%
Other Income/Expense, Net -$1.100M
YoY Change
Pretax Income $47.20M $34.50M
YoY Change 36.81% -1.71%
Income Tax $13.00M $15.00M
% Of Pretax Income 27.54% 43.48%
Net Earnings $32.20M $20.80M
YoY Change 54.81% 550.0%
Net Earnings / Revenue 4.77% 3.42%
Basic Earnings Per Share $0.35 $0.23
Diluted Earnings Per Share $0.35 $0.22
COMMON SHARES
Basic Shares Outstanding 91.40M shares 92.00M shares
Diluted Shares Outstanding 92.80M shares 93.20M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $579.0M $540.0M
YoY Change 7.22% -25.82%
Cash & Equivalents $515.1M $483.1M
Short-Term Investments $64.00M $57.00M
Other Short-Term Assets $312.0M $265.6M
YoY Change 17.47% -31.72%
Inventory $289.8M $314.9M
Prepaid Expenses
Receivables $559.0M $457.0M
Other Receivables $39.00M $49.00M
Total Short-Term Assets $1.714B $1.570B
YoY Change 9.21% -15.56%
LONG-TERM ASSETS
Property, Plant & Equipment $434.6M $365.1M
YoY Change 19.04% 11.31%
Goodwill $660.7M $644.0M
YoY Change 2.59%
Intangibles $104.8M $114.2M
YoY Change -8.23%
Long-Term Investments $4.700M $8.400M
YoY Change -44.05%
Other Assets $144.9M $176.4M
YoY Change -17.86% -81.45%
Total Long-Term Assets $2.069B $1.804B
YoY Change 14.72% -4.56%
TOTAL ASSETS
Total Short-Term Assets $1.714B $1.570B
Total Long-Term Assets $2.069B $1.804B
Total Assets $3.784B $3.374B
YoY Change 12.16% -10.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $344.2M $350.7M
YoY Change -1.85% -22.07%
Accrued Expenses $489.9M $492.2M
YoY Change -0.47% 603.14%
Deferred Revenue
YoY Change
Short-Term Debt $27.00M $0.00
YoY Change
Long-Term Debt Due $1.300M $900.0K
YoY Change 44.44% -96.09%
Total Short-Term Liabilities $834.1M $842.9M
YoY Change -1.04% -8.88%
LONG-TERM LIABILITIES
Long-Term Debt $7.400M $8.400M
YoY Change -11.9%
Other Long-Term Liabilities $282.2M $287.0M
YoY Change -1.67% -85.36%
Total Long-Term Liabilities $1.710B $1.864B
YoY Change -8.25% -4.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $834.1M $842.9M
Total Long-Term Liabilities $1.710B $1.864B
Total Liabilities $2.544B $2.707B
YoY Change -6.0% -10.56%
SHAREHOLDERS EQUITY
Retained Earnings $1.356B $882.2M
YoY Change 53.72%
Common Stock $91.70M $91.20M
YoY Change 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.236B $662.7M
YoY Change
Total Liabilities & Shareholders Equity $3.784B $3.374B
YoY Change 12.16% -10.01%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $32.20M $20.80M
YoY Change 54.81% 550.0%
Depreciation, Depletion And Amortization $21.10M $24.50M
YoY Change -13.88% 51.23%
Cash From Operating Activities -$13.60M -$12.70M
YoY Change 7.09% -176.05%
INVESTING ACTIVITIES
Capital Expenditures -$19.00M -$16.70M
YoY Change 13.77% 28.46%
Acquisitions
YoY Change
Other Investing Activities $2.700M -$500.0K
YoY Change -640.0% -64.29%
Cash From Investing Activities $26.50M -$34.70M
YoY Change -176.37% 196.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$4.200M $34.20M
YoY Change -112.28% 1268.0%
Debt Paid & Issued, Net $300.0K $2.600M
YoY Change -88.46%
Cash From Financing Activities -3.400M -7.900M
YoY Change -56.96% -154.86%
NET CHANGE
Cash From Operating Activities -13.60M -12.70M
Cash From Investing Activities 26.50M -34.70M
Cash From Financing Activities -3.400M -7.900M
Net Change In Cash 9.500M -55.30M
YoY Change -117.18% -385.05%
FREE CASH FLOW
Cash From Operating Activities -$13.60M -$12.70M
Capital Expenditures -$19.00M -$16.70M
Free Cash Flow $5.400M $4.000M
YoY Change 35.0% -86.53%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Accounting Pronouncements Not Yet Adopted</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In April 2014, the FASB issued guidance that raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and other disposals that do not meet the definition of a discontinued operations.&#160;The new guidance defines a discontinued operation as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results.&#160;The new guidance is effective on January 1, 2015, with early adoption permitted.&#160;While we do not expect a material impact on ITT&#8217;s financial statements upon adoption, the effects on future periods will depend upon the nature and significance of future disposals.</font></div></div>
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CY2013Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
100000 shares
CY2014Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
0 shares
CY2013Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1200000 shares
CY2014Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1400000 shares
CY2014Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
27800000 USD
CY2013Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
27800000 USD
CY2014Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
104800000 USD
CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
106900000 USD
CY2014Q1 us-gaap Interest Paid Net
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100000 USD
CY2013Q1 us-gaap Interest Paid Net
InterestPaidNet
200000 USD
CY2013Q4 us-gaap Inventory Finished Goods
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49900000 USD
CY2014Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
54000000 USD
CY2013Q4 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
85400000 USD
CY2014Q1 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
72900000 USD
CY2013Q4 us-gaap Inventory Net
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315900000 USD
CY2014Q1 us-gaap Inventory Net
InventoryNet
289800000 USD
CY2014Q1 us-gaap Inventory Raw Materials And Supplies
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171200000 USD
CY2013Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
166700000 USD
CY2014Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
70800000 USD
CY2013Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
94800000 USD
CY2014Q1 us-gaap Land
Land
27100000 USD
CY2013Q4 us-gaap Land
Land
26800000 USD
CY2014Q1 us-gaap Liabilities
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2544100000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
2533300000 USD
CY2014Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3783700000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3740200000 USD
CY2013Q4 us-gaap Liabilities Current
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832600000 USD
CY2014Q1 us-gaap Liabilities Current
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834100000 USD
CY2013Q4 us-gaap Liabilities Noncurrent
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1700700000 USD
CY2014Q1 us-gaap Liabilities Noncurrent
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1710000000 USD
CY2014Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
8800000 USD
CY2013Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
9100000 USD
CY2013Q4 us-gaap Long Term Debt Current
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1300000 USD
CY2014Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
1300000 USD
CY2014Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
7400000 USD
CY2013Q4 us-gaap Long Term Debt Noncurrent
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7600000 USD
CY2014Q1 us-gaap Machinery And Equipment Gross
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851900000 USD
CY2013Q4 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
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1179600000 USD
CY2014Q1 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
LossContingencyAccrualCarryingValueNoncurrent
1185000000 USD
CY2013Q4 us-gaap Machinery And Equipment Gross
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834500000 USD
CY2013Q4 us-gaap Minority Interest
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5900000 USD
CY2014Q1 us-gaap Minority Interest
MinorityInterest
4000000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-400000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-400000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-3400000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-7900000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-34700000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
26500000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-13200000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-12300000 USD
CY2014Q1 us-gaap Net Income Loss
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32200000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
20800000 USD
CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000000 USD
CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
400000 USD
CY2013Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
6300000 USD
CY2014Q1 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
5600000 USD
CY2014Q1 us-gaap Number Of Reportable Segments
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4 Segment
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
48300000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
37200000 USD
CY2014Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
51300000 USD
CY2013Q4 us-gaap Other Accrued Liabilities Current
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44000000 USD
CY2013Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
32700000 USD
CY2014Q1 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
39300000 USD
CY2014Q1 us-gaap Other Assets Current
OtherAssetsCurrent
312000000 USD
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
345600000 USD
CY2014Q1 us-gaap Other Assets Miscellaneous Current
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61900000 USD
CY2013Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
65100000 USD
CY2014Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
18700000 USD
CY2013Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
18400000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
144900000 USD
CY2014Q1 us-gaap Other Assets Noncurrent
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144900000 USD
CY2014Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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0 USD
CY2013Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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-1000000 USD
CY2013Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
0 USD
CY2014Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
0 USD
CY2013Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
0 USD
CY2014Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
400000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
100000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
-800000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
500000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
0 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2500000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-26000000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1900000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-23200000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1900000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-23200000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-2800000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-600000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-1400000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-3700000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
0 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
900000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
3800000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
600000 USD
CY2014Q1 us-gaap Other Liabilities Noncurrent
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282200000 USD
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
277800000 USD
CY2014Q1 us-gaap Other Receivables
OtherReceivables
32500000 USD
CY2013Q4 us-gaap Other Receivables
OtherReceivables
39100000 USD
CY2014Q1 us-gaap Other Restructuring Costs
OtherRestructuringCosts
0 USD
CY2013Q1 us-gaap Other Restructuring Costs
OtherRestructuringCosts
100000 USD
CY2014Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
2700000 USD
CY2013Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4800000 USD
CY2013Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
48200000 USD
CY2013Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
5400000 USD
CY2014Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
5800000 USD
CY2014Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
49000000 USD
CY2013Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
31700000 USD
CY2014Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
19000000 USD
CY2013Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
16700000 USD
CY2014Q1 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
242800000 USD
CY2013Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
243300000 USD
CY2013Q4 us-gaap Prepaid Taxes
PrepaidTaxes
23600000 USD
CY2014Q1 us-gaap Prepaid Taxes
PrepaidTaxes
42200000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9000000 USD
CY2013Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
14000000 USD
CY2013Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1800000 USD
CY2014Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1500000 USD
CY2014Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-11000000 USD
CY2013Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
28300000 USD
CY2014Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
97200000 USD
CY2013Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
13200000 USD
CY2013Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
28600000 USD
CY2014Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
28500000 USD
CY2014Q1 us-gaap Profit Loss
ProfitLoss
33200000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
21200000 USD
CY2013Q4 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
80900000 USD
CY2014Q1 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
79100000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1215800000 USD
CY2014Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1238900000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
426200000 USD
CY2014Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
434600000 USD
CY2013Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
8500000 USD
CY2014Q1 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
8500000 USD
CY2014Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
597500000 USD
CY2013Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
496700000 USD
CY2014Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
300000 USD
CY2013Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2600000 USD
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17700000 USD
CY2013Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16400000 USD
CY2014Q1 us-gaap Restructuring And Related Cost Expected Cost Remaining
RestructuringAndRelatedCostExpectedCostRemaining
5000000 USD
CY2014Q1 us-gaap Restructuring Charges
RestructuringCharges
15300000 USD
CY2013Q1 us-gaap Restructuring Charges
RestructuringCharges
5500000 USD
CY2013Q1 us-gaap Restructuring Reserve
RestructuringReserve
7700000 USD
CY2012Q4 us-gaap Restructuring Reserve
RestructuringReserve
7800000 USD
CY2013Q4 us-gaap Restructuring Reserve
RestructuringReserve
14700000 USD
CY2014Q1 us-gaap Restructuring Reserve
RestructuringReserve
24100000 USD
CY2014Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-100000 USD
CY2013Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-200000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1320300000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1356100000 USD
CY2014Q1 us-gaap Revenues
Revenues
674500000 USD
CY2013Q1 us-gaap Revenues
Revenues
608200000 USD
CY2013Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
51800000 USD
CY2014Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
55300000 USD
CY2014Q1 us-gaap Severance Costs1
SeveranceCosts1
15300000 USD
CY2013Q1 us-gaap Severance Costs1
SeveranceCosts1
5400000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3300000 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3000000 USD
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
11.93
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
300000 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
300000 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.296
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.018
CY2014Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M6D
CY2013Q4 us-gaap Short Term Investments
ShortTermInvestments
112900000 USD
CY2014Q1 us-gaap Short Term Investments
ShortTermInvestments
64100000 USD
CY2014Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
87000000 USD
CY2013Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
800000 shares
CY2014Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
500000 shares
CY2013Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
14000000 USD
CY2014Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
9000000 USD
CY2006Q4 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
1000000000 USD
CY2013Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1700000 shares
CY2013Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
45600000 USD
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
1235600000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
1201000000 USD
CY2014Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1239600000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1206900000 USD
CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
667000000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
703200000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92800000 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93200000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
91400000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
91900000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92000000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91400000 shares
CY2014Q1 itt Accrued Environmental And Litigation Liabilities Current
AccruedEnvironmentalAndLitigationLiabilitiesCurrent
37800000 USD
CY2013Q4 itt Accrued Environmental And Litigation Liabilities Current
AccruedEnvironmentalAndLitigationLiabilitiesCurrent
38500000 USD
CY2013Q4 itt Asbestos Liability And Related Assets Net Current And Noncurrent
AsbestosLiabilityAndRelatedAssetsNetCurrentAndNoncurrent
746900000 USD
CY2014Q1 itt Asbestos Liability And Related Assets Net Current And Noncurrent
AsbestosLiabilityAndRelatedAssetsNetCurrentAndNoncurrent
760200000 USD
CY2013Q4 itt Asbestos Liability Gross Current And Noncurrent
AsbestosLiabilityGrossCurrentAndNoncurrent
1264700000 USD
CY2014Q1 itt Asbestos Liability Measurement Periodsfor Claims Pendingand Estimatedtobe Filed
AsbestosLiabilityMeasurementPeriodsforClaimsPendingandEstimatedtobeFiled
P10Y
CY2013Q1 itt Asbestos Provision For Liability And Related Assets Net
AsbestosProvisionForLiabilityAndRelatedAssetsNet
16000000 USD
CY2014Q1 itt Asbestos Provision For Liability And Related Assets Net
AsbestosProvisionForLiabilityAndRelatedAssetsNet
-15800000 USD
CY2014Q1 itt Asbestos Related Assets
AsbestosRelatedAssets
425000000 USD
CY2013Q4 itt Asbestos Related Assets
AsbestosRelatedAssets
433300000 USD
CY2014Q1 itt Asbestos Related Costs Net
AsbestosRelatedCostsNet
15800000 USD
CY2013Q1 itt Asbestos Related Costs Net
AsbestosRelatedCostsNet
16000000 USD
CY2014Q1 itt Asbestos Related Current Assets
AsbestosRelatedCurrentAssets
84400000 USD
CY2013Q4 itt Asbestos Related Current Assets
AsbestosRelatedCurrentAssets
84500000 USD
CY2013Q4 itt Asbestos Related Liability Current
AsbestosRelatedLiabilityCurrent
85100000 USD
CY2014Q1 itt Asbestos Related Liability Current
AsbestosRelatedLiabilityCurrent
84600000 USD
CY2014Q1 itt Asbestos Related Payments
AsbestosRelatedPayments
2500000 USD
CY2013Q1 itt Asbestos Related Payments
AsbestosRelatedPayments
3400000 USD
CY2013Q1 itt Average Exercise Price Of Anti Dilutive Stock Options
AverageExercisePriceOfAntiDilutiveStockOptions
23.81
CY2014Q1 itt Average Exercise Price Of Anti Dilutive Stock Options
AverageExercisePriceOfAntiDilutiveStockOptions
43.52
CY2013Q1 itt Common Stock Period Increase Decrease
CommonStockPeriodIncreaseDecrease
-700000 USD
CY2014Q1 itt Common Stock Period Increase Decrease
CommonStockPeriodIncreaseDecrease
700000 USD
CY2014Q1 itt Compensation And Other Employee Related Liabilities Noncurrent
CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
41000000 USD
CY2013Q4 itt Compensation And Other Employee Related Liabilities Noncurrent
CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
43800000 USD
CY2013Q1 itt Compensation Costs Benefits On Liability Based Awards
CompensationCostsBenefitsOnLiabilityBasedAwards
900000 USD
CY2014Q1 itt Compensation Costs Benefits On Liability Based Awards
CompensationCostsBenefitsOnLiabilityBasedAwards
100000 USD
CY2013Q4 itt Customer Related Liabilities
CustomerRelatedLiabilities
55600000 USD
CY2014Q1 itt Customer Related Liabilities
CustomerRelatedLiabilities
62400000 USD
CY2013Q4 itt Estimated Environmental Related Assets
EstimatedEnvironmentalRelatedAssets
11700000 USD
CY2014Q1 itt Estimated Environmental Related Assets
EstimatedEnvironmentalRelatedAssets
11700000 USD
CY2013Q4 itt Finite And Infinite Lived Intangible Assets Gross
FiniteAndInfiniteLivedIntangibleAssetsGross
159400000 USD
CY2014Q1 itt Finite And Infinite Lived Intangible Assets Gross
FiniteAndInfiniteLivedIntangibleAssetsGross
160400000 USD
CY2013Q1 itt Inactivedismissedclaims
Inactivedismissedclaims
4000 Claim
CY2014Q1 itt Inactivedismissedclaims
Inactivedismissedclaims
0 Claim
CY2014Q1 itt Increase Decrease Net Cash Activity
IncreaseDecreaseNetCashActivity
-2500000 USD
CY2013Q1 itt Interest And Non Operating Expenses Net
InterestAndNonOperatingExpensesNet
2700000 USD
CY2014Q1 itt Interest And Non Operating Expenses Net
InterestAndNonOperatingExpensesNet
1100000 USD
CY2013Q1 itt Net Periodic Benefit Cost
NetPeriodicBenefitCost
7000000 USD
CY2014Q1 itt Net Periodic Benefit Cost
NetPeriodicBenefitCost
3200000 USD
CY2013Q1 itt Number Of Shares Repurchased Under Settlement Of Employee Tax Withholding Obligations
NumberOfSharesRepurchasedUnderSettlementOfEmployeeTaxWithholdingObligations
100000 shares
CY2014Q1 itt Number Of Shares Repurchased Under Settlement Of Employee Tax Withholding Obligations
NumberOfSharesRepurchasedUnderSettlementOfEmployeeTaxWithholdingObligations
100000 shares
CY2013Q1 itt Operating Margin
OperatingMargin
0.061
CY2014Q1 itt Operating Margin
OperatingMargin
0.072
CY2006Q4 itt Original Term Of Repurchase Program
OriginalTermOfRepurchaseProgram
P3Y
CY2014Q1 itt Other Employee Benefit Related Assets
OtherEmployeeBenefitRelatedAssets
95900000 USD
CY2013Q4 itt Other Employee Benefit Related Assets
OtherEmployeeBenefitRelatedAssets
95500000 USD
CY2013Q1 itt Pre Tax Compensation Cost
PreTaxCompensationCost
3900000 USD
CY2014Q1 itt Pre Tax Compensation Cost
PreTaxCompensationCost
3400000 USD
CY2013Q4 itt Receivables Gross Current
ReceivablesGrossCurrent
509300000 USD
CY2014Q1 itt Receivables Gross Current
ReceivablesGrossCurrent
608400000 USD
CY2014Q1 itt Retained Earnings Period Increase Decrease
RetainedEarningsPeriodIncreaseDecrease
35800000 USD
CY2013Q1 itt Retained Earnings Period Increase Decrease
RetainedEarningsPeriodIncreaseDecrease
-16600000 USD
CY2013Q1 itt Shares Repurchased Aggregate Value Under Settlement Of Employee Tax Withholding Obligations
SharesRepurchasedAggregateValueUnderSettlementOfEmployeeTaxWithholdingObligations
2600000 USD
CY2014Q1 itt Shares Repurchased Aggregate Value Under Settlement Of Employee Tax Withholding Obligations
SharesRepurchasedAggregateValueUnderSettlementOfEmployeeTaxWithholdingObligations
4800000 USD
CY2013Q4 itt Totalinventorybeforeprogresspayments
Totalinventorybeforeprogresspayments
396800000 USD
CY2014Q1 itt Totalinventorybeforeprogresspayments
Totalinventorybeforeprogresspayments
368900000 USD
CY2013Q4 itt Unvested Restricted Common Stock Included In Shares Issued And Outstanding
UnvestedRestrictedCommonStockIncludedInSharesIssuedAndOutstanding
0 shares
CY2014Q1 itt Unvested Restricted Common Stock Included In Shares Issued And Outstanding
UnvestedRestrictedCommonStockIncludedInSharesIssuedAndOutstanding
0 shares
CY2014Q1 itt Years Of Expiration For Anti Dilutive Stock Options
YearsOfExpirationForAntiDilutiveStockOptions
2024
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000216228
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
91700000 shares
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
ITT Corporation
CY2014Q1 dei Trading Symbol
TradingSymbol
ITT

Files In Submission

Name View Source Status
0000216228-14-000017-index-headers.html Edgar Link pending
0000216228-14-000017-index.html Edgar Link pending
0000216228-14-000017.txt Edgar Link pending
0000216228-14-000017-xbrl.zip Edgar Link pending
a10012014performanceunitaw.htm Edgar Link pending
a10022014stockoptionawarda.htm Edgar Link pending
a10032014restrictedstockun.htm Edgar Link pending
exhibit31133114.htm Edgar Link pending
exhibit31233114.htm Edgar Link pending
exhibit32133114.htm Edgar Link pending
exhibit32233114.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
itt-20140331.xml Edgar Link completed
itt-20140331.xsd Edgar Link pending
itt-20140331_cal.xml Edgar Link unprocessable
itt-20140331_def.xml Edgar Link unprocessable
itt-20140331_lab.xml Edgar Link unprocessable
itt-20140331_pre.xml Edgar Link unprocessable
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