$ITT
ITT INC.

2014 Q4 Form 10-Q Financial Statement

#000021622814000046 Filed on October 31, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $660.0M $657.1M $634.0M
YoY Change 2.25% 3.64% 15.8%
Cost Of Revenue $443.1M $437.2M $431.1M
YoY Change 1.42% 1.41% 13.06%
Gross Profit $216.9M $219.9M $202.9M
YoY Change 3.98% 8.38% 22.08%
Gross Profit Margin 32.86% 33.47% 32.0%
Selling, General & Admin $138.1M $122.6M $125.2M
YoY Change -3.9% -2.08% 23.23%
% of Gross Profit 63.67% 55.75% 61.71%
Research & Development $20.20M $20.10M $16.10M
YoY Change 9.78% 24.84% 6.62%
% of Gross Profit 9.31% 9.14% 7.93%
Depreciation & Amortization $24.10M $18.50M $16.40M
YoY Change 18.14% 12.8% 18.84%
% of Gross Profit 11.11% 8.41% 8.08%
Operating Expenses $158.3M $142.7M $141.3M
YoY Change -2.34% 0.99% 21.08%
Operating Profit $58.60M $119.7M $77.00M
YoY Change 26.02% 55.45% 109.81%
Interest Expense -$2.100M -$700.0K $2.300M
YoY Change 320.0% -130.43% -54.0%
% of Operating Profit -3.58% -0.58% 2.99%
Other Income/Expense, Net -$700.0K
YoY Change
Pretax Income $41.80M $119.0M $79.30M
YoY Change 52.0% 50.06% 90.17%
Income Tax $7.900M $38.00M -$354.4M
% Of Pretax Income 18.9% 31.93% -446.91%
Net Earnings $33.70M $80.30M $430.7M
YoY Change 200.89% -81.36% 490.0%
Net Earnings / Revenue 5.11% 12.22% 67.93%
Basic Earnings Per Share $0.88 $4.76
Diluted Earnings Per Share $364.3K $0.86 $4.69
COMMON SHARES
Basic Shares Outstanding 91.60M shares 91.60M shares 90.40M shares
Diluted Shares Outstanding 92.90M shares 91.90M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $589.0M $590.0M $583.0M
YoY Change -5.0% 1.2% -23.49%
Cash & Equivalents $584.0M $522.6M $480.6M
Short-Term Investments $5.000M $68.00M $102.0M
Other Short-Term Assets $249.8M $305.0M $370.2M
YoY Change -27.72% -17.61% 64.1%
Inventory $302.3M $312.8M $297.4M
Prepaid Expenses
Receivables $464.0M $528.0M $497.0M
Other Receivables $36.00M $41.00M $46.00M
Total Short-Term Assets $1.636B $1.710B $1.692B
YoY Change -1.76% 1.07% -1.34%
LONG-TERM ASSETS
Property, Plant & Equipment $443.9M $433.2M $385.2M
YoY Change 4.15% 12.46% 18.93%
Goodwill $632.1M $643.0M $655.5M
YoY Change -4.2% -1.91% 27.7%
Intangibles $91.40M $95.50M $109.0M
YoY Change -14.5% -12.39% 39.03%
Long-Term Investments $3.900M $4.700M $8.300M
YoY Change -17.02% -43.37%
Other Assets $149.8M $146.0M $160.3M
YoY Change 3.38% -8.92% 8.53%
Total Long-Term Assets $1.995B $1.997B $2.104B
YoY Change -3.83% -5.07% 31.48%
TOTAL ASSETS
Total Short-Term Assets $1.636B $1.710B $1.692B
Total Long-Term Assets $1.995B $1.997B $2.104B
Total Assets $3.632B $3.707B $3.795B
YoY Change -2.91% -2.33% 14.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $309.6M $330.7M $345.2M
YoY Change -6.94% -4.2% 4.01%
Accrued Expenses $464.3M $484.6M $516.9M
YoY Change -7.12% -6.25% 26.32%
Deferred Revenue
YoY Change
Short-Term Debt $1.500M $0.00 $0.00
YoY Change
Long-Term Debt Due $1.100M $1.200M $1.300M
YoY Change -15.38% -7.69%
Total Short-Term Liabilities $775.4M $815.3M $862.1M
YoY Change -6.87% -5.43% 16.33%
LONG-TERM LIABILITIES
Long-Term Debt $6.000M $6.500M $7.900M
YoY Change -21.05% -17.72%
Other Long-Term Liabilities $269.5M $266.1M $294.0M
YoY Change -2.99% -9.49% 9.87%
Total Long-Term Liabilities $1.636B $1.590B $1.807B
YoY Change -3.82% -12.04% 0.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $775.4M $815.3M $862.1M
Total Long-Term Liabilities $1.636B $1.590B $1.807B
Total Liabilities $2.411B $2.405B $2.669B
YoY Change -4.82% -9.9% 4.88%
SHAREHOLDERS EQUITY
Retained Earnings $1.445B $1.450B $1.305B
YoY Change 9.45% 11.07% 42.89%
Common Stock $91.00M $91.60M $90.70M
YoY Change 0.0% 0.99% -1.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 13.30M shares
Shareholders Equity $1.215B $1.297B $1.121B
YoY Change
Total Liabilities & Shareholders Equity $3.632B $3.707B $3.795B
YoY Change -2.91% -2.33% 14.5%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $33.70M $80.30M $430.7M
YoY Change 200.89% -81.36% 490.0%
Depreciation, Depletion And Amortization $24.10M $18.50M $16.40M
YoY Change 18.14% 12.8% 18.84%
Cash From Operating Activities $112.2M $47.00M $15.10M
YoY Change -13.76% 211.26% -78.61%
INVESTING ACTIVITIES
Capital Expenditures -$44.40M -$28.70M -$21.40M
YoY Change -31.38% 34.11% 51.77%
Acquisitions
YoY Change
Other Investing Activities $62.40M $28.80M -$63.80M
YoY Change -1277.36% -145.14% -32000.0%
Cash From Investing Activities $18.00M $100.0K -$85.20M
YoY Change -125.71% -100.12% 512.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -52.70M -38.70M 26.90M
YoY Change 54.55% -243.87% -176.2%
NET CHANGE
Cash From Operating Activities 112.2M 47.00M 15.10M
Cash From Investing Activities 18.00M 100.0K -85.20M
Cash From Financing Activities -52.70M -38.70M 26.90M
Net Change In Cash 77.50M 8.400M -43.20M
YoY Change 198.08% -119.44% -301.87%
FREE CASH FLOW
Cash From Operating Activities $112.2M $47.00M $15.10M
Capital Expenditures -$44.40M -$28.70M -$21.40M
Free Cash Flow $156.6M $75.70M $36.50M
YoY Change -19.61% 107.4% -56.91%

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;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The unaudited consolidated condensed financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC) and, in the opinion of management, reflect all adjustments (which include normal recurring adjustments) necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods presented. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted pursuant to such SEC rules. We believe that the disclosures made are adequate to make the information presented not misleading. We consistently applied the accounting policies described in ITT's Annual Report on Form&#160;10-K for the year ended December 31, </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:Arial;font-size:10pt;"> (</font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:Arial;font-size:10pt;"> Annual Report) in preparing these unaudited financial statements. These financial statements should be read in conjunction with the financial statements and notes thereto included in our </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:Arial;font-size:10pt;"> Annual Report. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Estimates are revised as additional information becomes available. Estimates and assumptions are used for, but not limited to, asbestos-related liabilities and recoveries from insurers, revenue recognition, unrecognized tax benefits, deferred tax valuation allowances, projected benefit obligations for postretirement plans, accounting for business combinations, goodwill and other intangible asset impairment testing, environmental liabilities and recoveries from insurers, allowance for doubtful accounts and inventory valuation. Actual results could differ from these estimates. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">ITT's quarterly financial periods end on the Saturday closest to the last day of the calendar quarter, except for the last quarterly period of the fiscal year, which ends on December&#160;31st. For ease of presentation, the quarterly financial statements included herein are described as ending on the last day of the calendar quarter. </font></div></div>
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CY2013Q3 us-gaap Depreciation
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16400000 USD
us-gaap Depreciation
Depreciation
46900000 USD
us-gaap Depreciation
Depreciation
52200000 USD
us-gaap Depreciation Depletion And Amortization
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66500000 USD
us-gaap Depreciation Depletion And Amortization
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64200000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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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 May 2014, the FASB amended the existing accounting standards for revenue recognition. The amendments are based on the principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity&#8217;s contracts with customers. Adoption of the amendments is required in the first quarter of fiscal 2017. Early adoption is not permitted. The amendments may be applied retrospectively to each prior period presented or with the cumulative effect recognized as of the date of initial application. ITT is currently evaluating the impact of these amendments and the transition alternatives on ITT's financial statements. </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 operation.&#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 will become 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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CY2013Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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CY2014Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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us-gaap Earnings Per Share Basic
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5.25
CY2014Q3 us-gaap Earnings Per Share Basic
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0.88
us-gaap Earnings Per Share Basic
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1.65
CY2013Q3 us-gaap Earnings Per Share Basic
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0.86
us-gaap Earnings Per Share Diluted
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5.17
us-gaap Earnings Per Share Diluted
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1.62
CY2013Q3 us-gaap Earnings Per Share Diluted
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4.69
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2014Q3 us-gaap Effective Income Tax Rate Continuing Operations
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CY2013Q3 us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2014Q3 us-gaap Employee Related Liabilities Current
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171300000 USD
CY2013Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
178500000 USD
CY2013Q4 us-gaap Equity Method Investments
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4700000 USD
CY2014Q3 us-gaap Equity Method Investments
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4700000 USD
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128500000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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52500000 USD
CY2014Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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59900000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Gross
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79100000 USD
CY2014Q3 us-gaap Finite Lived Intangible Assets Net
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68600000 USD
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74600000 USD
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
216300000 USD
us-gaap General And Administrative Expense
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208200000 USD
CY2014Q3 us-gaap General And Administrative Expense
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69100000 USD
CY2013Q3 us-gaap General And Administrative Expense
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72500000 USD
CY2013Q4 us-gaap Goodwill
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CY2014Q3 us-gaap Goodwill
Goodwill
643000000 USD
us-gaap Goodwill Acquired During Period
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us-gaap Goodwill Translation Adjustments
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CY2014Q3 us-gaap Gross Profit
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219900000 USD
us-gaap Gross Profit
GrossProfit
591200000 USD
us-gaap Gross Profit
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649500000 USD
CY2013Q3 us-gaap Gross Profit
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations
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CY2014Q3 us-gaap Income Loss From Continuing Operations
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CY2013Q3 us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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153000000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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79300000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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119000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
220200000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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81000000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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433700000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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156800000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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478000000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Basic Share
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5.24
us-gaap Income Loss From Continuing Operations Per Basic Share
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1.69
us-gaap Income Loss From Continuing Operations Per Diluted Share
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5.17
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2013Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
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4.71
us-gaap Income Loss From Continuing Operations Per Diluted Share
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1.67
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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500000 USD
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
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CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
63400000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38000000 USD
us-gaap Income Taxes Paid Net
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47800000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
11900000 USD
us-gaap Increase Decrease In Accounts Payable
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4400000 USD
us-gaap Increase Decrease In Accounts Payable
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1200000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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5000000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Accrued Liabilities
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4100000 USD
us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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6300000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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13400000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Increase Decrease In Receivables
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93500000 USD
us-gaap Increase Decrease In Receivables
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106500000 USD
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1300000 shares
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1500000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1300000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1400000 shares
CY2014Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
26900000 USD
CY2013Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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27800000 USD
CY2014Q3 us-gaap Intangible Assets Net Excluding Goodwill
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95500000 USD
CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
106900000 USD
us-gaap Interest Paid Net
InterestPaidNet
900000 USD
us-gaap Interest Paid Net
InterestPaidNet
1100000 USD
CY2013Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
49900000 USD
CY2014Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
54900000 USD
CY2013Q4 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
85400000 USD
CY2014Q3 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
68300000 USD
CY2013Q4 us-gaap Inventory Net
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315900000 USD
CY2014Q3 us-gaap Inventory Net
InventoryNet
312800000 USD
CY2014Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
162000000 USD
CY2013Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
166700000 USD
CY2014Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
74100000 USD
CY2013Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
94800000 USD
CY2014Q3 us-gaap Land
Land
24900000 USD
CY2013Q4 us-gaap Land
Land
26800000 USD
CY2014Q3 us-gaap Liabilities
Liabilities
2405000000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
2533300000 USD
CY2014Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3706700000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3740200000 USD
CY2013Q4 us-gaap Liabilities Current
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832600000 USD
CY2014Q3 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2013Q4 us-gaap Liabilities Noncurrent
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1700700000 USD
CY2014Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
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CY2014Q3 us-gaap Long Term Debt And Capital Lease Obligations
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7700000 USD
CY2013Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
9100000 USD
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1300000 USD
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1200000 USD
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6500000 USD
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7600000 USD
CY2013Q4 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
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CY2014Q3 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
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1118100000 USD
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MachineryAndEquipmentGross
853600000 USD
CY2013Q4 us-gaap Minority Interest
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5900000 USD
CY2014Q3 us-gaap Minority Interest
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4800000 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
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us-gaap Net Cash Provided By Used In Discontinued Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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131900000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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98600000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.296
us-gaap Net Income Loss
NetIncomeLoss
477300000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
430700000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
80300000 USD
us-gaap Net Income Loss
NetIncomeLoss
150800000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1200000 USD
CY2013Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
700000 USD
CY2014Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
400000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1800000 USD
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NotesAndLoansReceivableGrossCurrent
4200000 USD
CY2013Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
6300000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 Segment
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
119700000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
77000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
155600000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
222500000 USD
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44000000 USD
CY2014Q3 us-gaap Other Accrued Liabilities Current
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48600000 USD
CY2014Q3 us-gaap Other Accrued Liabilities Noncurrent
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36900000 USD
CY2013Q4 us-gaap Other Accrued Liabilities Noncurrent
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32700000 USD
CY2014Q3 us-gaap Other Assets Current
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305000000 USD
CY2013Q4 us-gaap Other Assets Current
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345600000 USD
CY2014Q3 us-gaap Other Assets Miscellaneous Current
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53700000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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18400000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y9M6D
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65100000 USD
CY2014Q3 us-gaap Other Assets Miscellaneous Noncurrent
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19200000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
144900000 USD
CY2014Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
146000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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18200000 USD
CY2013Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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3200000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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2200000 USD
CY2014Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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18200000 USD
CY2014Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
10600000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
1900000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
10600000 USD
CY2013Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
1900000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
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11400000 USD
CY2014Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
10800000 USD
CY2013Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
5700000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
5700000 USD
CY2013Q3 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
0 USD
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
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200000 USD
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
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-2500000 USD
CY2014Q3 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
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CY2014Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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600000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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1500000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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-100000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2013Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
29400000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
4200000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-53300000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
32200000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
12900000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Restructuring
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments To Acquire Investments
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us-gaap Payments To Acquire Investments
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us-gaap Payments To Acquire Productive Assets
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74400000 USD
us-gaap Payments To Acquire Productive Assets
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CY2014Q3 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
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us-gaap Profit Loss
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us-gaap Profit Loss
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CY2013Q4 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
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CY2014Q3 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
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46500000 USD
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PropertyPlantAndEquipmentGross
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PropertyPlantAndEquipmentGross
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PropertyPlantAndEquipmentNet
426200000 USD
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PropertyPlantAndEquipmentNet
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8500000 USD
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PropertyPlantAndEquipmentOther
8300000 USD
CY2014Q3 us-gaap Receivables Net Current
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569200000 USD
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ReceivablesNetCurrent
496700000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1200000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
48900000 USD
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20100000 USD
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16100000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
56400000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
10600000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
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RestructuringAndRelatedCostIncurredCost
1700000 USD
CY2014Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
3100000 USD
us-gaap Restructuring Charges
RestructuringCharges
10600000 USD
us-gaap Restructuring Charges
RestructuringCharges
22200000 USD
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22100000 USD
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us-gaap Restructuring Reserve Translation Adjustment
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us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
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RetainedEarningsAccumulatedDeficit
1320300000 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1449500000 USD
us-gaap Revenue Recognition Percentage Of Completion Method
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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;font-weight:bold;">Summary of Significant Accounting Policies</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Due to an increase in the number and size of complex long-term industrial pump design and build contracts, an update to the revenue recognition accounting policy disclosed in the 2013 Annual Report is provided below:</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Revenue Recognition</font></div><div style="line-height:120%;padding-top:4px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">We recognize revenue for certain long-term design and build projects using the percentage-of-completion method, based upon the percentage of costs incurred to total projected costs. Revenue and profit recognized under the percentage-of-completion method are based on management&#8217;s estimates. Amounts invoiced to customers in excess of revenue recognized are recorded as deferred revenue, until the revenue recognition criteria are satisfied. Revenue that is earned and recognized in excess of amounts invoiced is recorded as a component of receivables, net. During the performance of long-term sales contracts, estimated final contract prices and costs are reviewed periodically and revisions are made as required and recorded in income in the period in which they are determined. Provisions for estimated losses on uncompleted long-term sales contracts are made in the period in which such losses are determined and are recorded as a component of costs of revenue. We continue to apply the completed-contract method of accounting for smaller design and build contracts, including those of short-term duration. Our results of operations and financial position would not vary materially had we used the percentage-of-completion method for these types of contracts.</font></div></div>
us-gaap Revenues
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1994600000 USD
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us-gaap Revenues
Revenues
1851400000 USD
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657100000 USD
CY2014Q3 us-gaap Selling And Marketing Expense
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53500000 USD
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SellingAndMarketingExpense
52700000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
162000000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
165100000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
10800000 USD
us-gaap Share Based Compensation
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9700000 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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
300000 shares
CY2014Q3 us-gaap Short Term Investments
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67600000 USD
CY2013Q4 us-gaap Short Term Investments
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112900000 USD
CY2014Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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84100000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
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1700000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
800000 shares
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
14300000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
28000000 USD
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us-gaap Stock Repurchased During Period Shares
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us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
400000 shares
us-gaap Stock Repurchased During Period Value
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85200000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
20000000 USD
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10000000 USD
CY2014Q3 us-gaap Stockholders Equity
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1206900000 USD
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703200000 USD
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660500000 USD
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Tax Adjustments Settlements And Unusual Provisions
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CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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92900000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
91900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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91500000 shares
CY2014Q3 itt Accrued Environmental And Litigation Liabilities Current
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33900000 USD
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AccruedEnvironmentalAndLitigationLiabilitiesCurrent
38500000 USD
CY2014Q3 itt Asbestos Liability And Related Assets Net Current And Noncurrent
AsbestosLiabilityAndRelatedAssetsNetCurrentAndNoncurrent
727200000 USD
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AsbestosLiabilityAndRelatedAssetsNetCurrentAndNoncurrent
746900000 USD
itt Asbestos Liability Measurement Periodsfor Claims Pendingand Estimatedtobe Filed
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P10Y
CY2014Q3 itt Asbestos Related Assets
AsbestosRelatedAssets
397200000 USD
CY2013Q4 itt Asbestos Related Assets
AsbestosRelatedAssets
433300000 USD
CY2013Q3 itt Asbestos Related Costs Benefit Annual Remeasurement
AsbestosRelatedCostsBenefitAnnualRemeasurement
500000 USD
itt Asbestos Related Costs Benefit Annual Remeasurement
AsbestosRelatedCostsBenefitAnnualRemeasurement
500000 USD
CY2014Q3 itt Asbestos Related Costs Benefit Annual Remeasurement
AsbestosRelatedCostsBenefitAnnualRemeasurement
-58800000 USD
itt Asbestos Related Costs Benefit Annual Remeasurement
AsbestosRelatedCostsBenefitAnnualRemeasurement
-58800000 USD
itt Asbestos Related Costs Benefit Provisionto Maintain10 Year Forecast Period
AsbestosRelatedCostsBenefitProvisiontoMaintain10YearForecastPeriod
48000000 USD
CY2013Q3 itt Asbestos Related Costs Benefit Provisionto Maintain10 Year Forecast Period
AsbestosRelatedCostsBenefitProvisiontoMaintain10YearForecastPeriod
15100000 USD
itt Asbestos Related Costs Benefit Provisionto Maintain10 Year Forecast Period
AsbestosRelatedCostsBenefitProvisiontoMaintain10YearForecastPeriod
47000000 USD
CY2014Q3 itt Other Employee Benefit Related Assets
OtherEmployeeBenefitRelatedAssets
96300000 USD
CY2014Q3 itt Pre Tax Compensation Cost
PreTaxCompensationCost
5000000 USD
itt Pre Tax Compensation Cost
PreTaxCompensationCost
4900000 USD
CY2014Q3 itt Asbestos Related Costs Benefit Provisionto Maintain10 Year Forecast Period
AsbestosRelatedCostsBenefitProvisiontoMaintain10YearForecastPeriod
16300000 USD
CY2013Q3 itt Asbestos Related Costs Benefit Settlement Agreement
AsbestosRelatedCostsBenefitSettlementAgreement
-31000000 USD
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AsbestosRelatedCostsBenefitSettlementAgreement
-31000000 USD
itt Asbestos Related Costs Benefit Settlement Agreement
AsbestosRelatedCostsBenefitSettlementAgreement
0 USD
CY2014Q3 itt Asbestos Related Costs Benefit Settlement Agreement
AsbestosRelatedCostsBenefitSettlementAgreement
0 USD
itt Asbestos Related Costs Net
AsbestosRelatedCostsNet
-10800000 USD
CY2013Q3 itt Asbestos Related Costs Net
AsbestosRelatedCostsNet
-15400000 USD
itt Asbestos Related Costs Net
AsbestosRelatedCostsNet
16500000 USD
CY2014Q3 itt Asbestos Related Costs Net
AsbestosRelatedCostsNet
-42500000 USD
CY2013Q4 itt Asbestos Related Current Assets
AsbestosRelatedCurrentAssets
84500000 USD
CY2014Q3 itt Asbestos Related Current Assets
AsbestosRelatedCurrentAssets
100100000 USD
CY2014Q3 itt Asbestos Related Liability Current
AsbestosRelatedLiabilityCurrent
106400000 USD
CY2013Q4 itt Asbestos Related Liability Current
AsbestosRelatedLiabilityCurrent
85100000 USD
itt Asbestos Related Payments
AsbestosRelatedPayments
8900000 USD
itt Asbestos Related Payments
AsbestosRelatedPayments
19200000 USD
itt Asset Write Offs
AssetWriteOffs
500000 USD
itt Asset Write Offs
AssetWriteOffs
1300000 USD
itt Average Exercise Price Of Anti Dilutive Stock Options
AverageExercisePriceOfAntiDilutiveStockOptions
43.51
itt Average Exercise Price Of Anti Dilutive Stock Options
AverageExercisePriceOfAntiDilutiveStockOptions
26.80
CY2014Q3 itt Average Exercise Price Of Anti Dilutive Stock Options
AverageExercisePriceOfAntiDilutiveStockOptions
43.51
CY2013Q3 itt Average Exercise Price Zero Anti Dilutive Stock Options
AverageExercisePriceZeroAntiDilutiveStockOptions
N/A
itt Average Net Asbestos Cash Outflowpast3annualperiods
AverageNetAsbestosCashOutflowpast3annualperiods
14000000 USD
CY2013Q4 itt Compensation And Other Employee Related Liabilities Noncurrent
CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
43800000 USD
CY2014Q3 itt Compensation And Other Employee Related Liabilities Noncurrent
CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
40400000 USD
CY2013Q3 itt Compensation Costs Benefits On Liability Based Awards
CompensationCostsBenefitsOnLiabilityBasedAwards
2200000 USD
CY2014Q3 itt Compensation Costs Benefits On Liability Based Awards
CompensationCostsBenefitsOnLiabilityBasedAwards
1000000 USD
itt Compensation Costs Benefits On Liability Based Awards
CompensationCostsBenefitsOnLiabilityBasedAwards
1400000 USD
itt Compensation Costs Benefits On Liability Based Awards
CompensationCostsBenefitsOnLiabilityBasedAwards
2900000 USD
CY2013Q4 itt Customer Related Liabilities
CustomerRelatedLiabilities
55600000 USD
CY2014Q3 itt Customer Related Liabilities
CustomerRelatedLiabilities
57000000 USD
CY2013Q4 itt Estimated Environmental Related Assets
EstimatedEnvironmentalRelatedAssets
11700000 USD
CY2014Q3 itt Estimated Environmental Related Assets
EstimatedEnvironmentalRelatedAssets
7600000 USD
CY2014Q3 itt Estimateof Asbestos Coststobe Recoveredfor Insurersin10yearspercent
EstimateofAsbestosCoststobeRecoveredforInsurersin10yearspercent
0.25
CY2014Q3 itt Estimateof Asbestos Coststobe Recoveredfrom Insurerspercentageoftotalcosts
EstimateofAsbestosCoststobeRecoveredfromInsurerspercentageoftotalcosts
0.41
CY2013Q4 itt Finite And Infinite Lived Intangible Assets Gross
FiniteAndInfiniteLivedIntangibleAssetsGross
159400000 USD
CY2014Q3 itt Finite And Infinite Lived Intangible Assets Gross
FiniteAndInfiniteLivedIntangibleAssetsGross
155400000 USD
itt Foreignexchangetranslation
Foreignexchangetranslation
-200000 USD
itt Increase Decrease Net Cash Activity
IncreaseDecreaseNetCashActivity
-8900000 USD
CY2014Q3 itt Interest And Non Operating Expenses Net
InterestAndNonOperatingExpensesNet
700000 USD
CY2013Q3 itt Interest And Non Operating Expenses Net
InterestAndNonOperatingExpensesNet
-2300000 USD
itt Interest And Non Operating Expenses Net
InterestAndNonOperatingExpensesNet
2600000 USD
itt Interest And Non Operating Expenses Net
InterestAndNonOperatingExpensesNet
2300000 USD
itt Net Periodic Benefit Cost
NetPeriodicBenefitCost
19600000 USD
itt Net Periodic Benefit Cost
NetPeriodicBenefitCost
9700000 USD
CY2013Q3 itt Net Periodic Benefit Cost
NetPeriodicBenefitCost
6500000 USD
CY2014Q3 itt Net Periodic Benefit Cost
NetPeriodicBenefitCost
3300000 USD
itt Number Of Shares Repurchased Under Settlement Of Employee Tax Withholding Obligations
NumberOfSharesRepurchasedUnderSettlementOfEmployeeTaxWithholdingObligations
100000 shares
itt Number Of Shares Repurchased Under Settlement Of Employee Tax Withholding Obligations
NumberOfSharesRepurchasedUnderSettlementOfEmployeeTaxWithholdingObligations
100000 shares
itt Numberof Roic Awards Excludedfrom Diluted Shares Outstanding
NumberofROICAwardsExcludedfromDilutedSharesOutstanding
200000 shares
CY2014Q3 itt Operating Margin
OperatingMargin
0.182
CY2013Q3 itt Operating Margin
OperatingMargin
0.121
itt Operating Margin
OperatingMargin
0.084
itt Operating Margin
OperatingMargin
0.112
CY2006Q4 itt Original Term Of Repurchase Program
OriginalTermOfRepurchaseProgram
P3Y
CY2013Q4 itt Other Employee Benefit Related Assets
OtherEmployeeBenefitRelatedAssets
95500000 USD
itt Pre Tax Compensation Cost
PreTaxCompensationCost
13700000 USD
CY2013Q3 itt Pre Tax Compensation Cost
PreTaxCompensationCost
11900000 USD
CY2013Q4 itt Receivables Gross Current
ReceivablesGrossCurrent
509300000 USD
CY2014Q3 itt Receivables Gross Current
ReceivablesGrossCurrent
579300000 USD
itt Shares Repurchased Aggregate Value Under Settlement Of Employee Tax Withholding Obligations
SharesRepurchasedAggregateValueUnderSettlementOfEmployeeTaxWithholdingObligations
2800000 USD
itt Shares Repurchased Aggregate Value Under Settlement Of Employee Tax Withholding Obligations
SharesRepurchasedAggregateValueUnderSettlementOfEmployeeTaxWithholdingObligations
5500000 USD
CY2013Q4 itt Totalinventorybeforeprogresspayments
Totalinventorybeforeprogresspayments
396800000 USD
CY2014Q3 itt Totalinventorybeforeprogresspayments
Totalinventorybeforeprogresspayments
359300000 USD
itt Years Of Expiration For Anti Dilutive Stock Options
YearsOfExpirationForAntiDilutiveStockOptions
2024
CY2013Q3 itt Years Of Expiration For Anti Dilutive Stock Options
YearsOfExpirationForAntiDilutiveStockOptions
N/A
CY2014Q3 itt Years Of Expiration For Anti Dilutive Stock Options
YearsOfExpirationForAntiDilutiveStockOptions
2024
itt Years Of Expiration For Anti Dilutive Stock Options
YearsOfExpirationForAntiDilutiveStockOptions
2023
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000216228
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
91600000 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
ITT Corporation
dei Trading Symbol
TradingSymbol
ITT

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