2018 Q1 Form 10-Q Financial Statement

#000021622818000012 Filed on May 04, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $689.3M $625.8M
YoY Change 10.15% 2.74%
Cost Of Revenue $465.1M $422.7M
YoY Change 10.03% 2.15%
Gross Profit $224.2M $203.1M
YoY Change 10.39% 3.99%
Gross Profit Margin 32.53% 32.45%
Selling, General & Admin $108.6M $108.8M
YoY Change -0.18% -3.12%
% of Gross Profit 48.44% 53.57%
Research & Development $24.70M $22.40M
YoY Change 10.27% 16.67%
% of Gross Profit 11.02% 11.03%
Depreciation & Amortization $27.60M $24.80M
YoY Change 11.29% -1.98%
% of Gross Profit 12.31% 12.21%
Operating Expenses $133.3M $131.2M
YoY Change 1.6% -0.23%
Operating Profit $110.6M $57.00M
YoY Change 94.04% 11.76%
Interest Expense -$1.800M -$800.0K
YoY Change 125.0% -52.94%
% of Operating Profit -1.63% -1.4%
Other Income/Expense, Net -$1.800M -$2.200M
YoY Change -18.18% 29.41%
Pretax Income $108.8M $54.80M
YoY Change 98.54% 11.16%
Income Tax $7.600M $9.100M
% Of Pretax Income 6.99% 16.61%
Net Earnings $101.2M $46.00M
YoY Change 120.0% 22.99%
Net Earnings / Revenue 14.68% 7.35%
Basic Earnings Per Share $1.15 $0.52
Diluted Earnings Per Share $1.14 $0.52
COMMON SHARES
Basic Shares Outstanding 88.00M shares 88.50M shares
Diluted Shares Outstanding 89.00M shares 89.20M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $439.0M $398.0M
YoY Change 10.3% -20.24%
Cash & Equivalents $438.7M $348.5M
Short-Term Investments $49.00M
Other Short-Term Assets $173.0M $142.0M
YoY Change 21.83% -37.44%
Inventory $404.9M $311.5M
Prepaid Expenses
Receivables $581.0M $550.0M
Other Receivables $26.00M $27.00M
Total Short-Term Assets $1.598B $1.379B
YoY Change 15.89% -11.96%
LONG-TERM ASSETS
Property, Plant & Equipment $526.6M $481.5M
YoY Change 9.37% 8.69%
Goodwill $895.7M $865.7M
YoY Change 3.47% 9.92%
Intangibles $151.8M $156.7M
YoY Change -3.13% -13.52%
Long-Term Investments $7.400M
YoY Change
Other Assets $202.8M $186.1M
YoY Change 8.97% 4.96%
Total Long-Term Assets $2.274B $2.292B
YoY Change -0.79% 2.16%
TOTAL ASSETS
Total Short-Term Assets $1.598B $1.379B
Total Long-Term Assets $2.274B $2.292B
Total Assets $3.872B $3.670B
YoY Change 5.48% -3.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $367.0M $313.6M
YoY Change 17.03% 6.85%
Accrued Expenses $394.2M $359.1M
YoY Change 9.77% -6.8%
Deferred Revenue $61.70M
YoY Change
Short-Term Debt $246.5M $100.0M
YoY Change 146.5% -33.82%
Long-Term Debt Due $1.400M $1.100M
YoY Change 27.27% 0.0%
Total Short-Term Liabilities $1.009B $885.8M
YoY Change 13.92% -7.15%
LONG-TERM LIABILITIES
Long-Term Debt $8.000M $0.00
YoY Change
Other Long-Term Liabilities $181.4M $174.1M
YoY Change 4.19% -18.91%
Total Long-Term Liabilities $1.202B $1.293B
YoY Change -7.02% -9.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.009B $885.8M
Total Long-Term Liabilities $1.202B $1.293B
Total Liabilities $2.211B $2.178B
YoY Change 1.5% -8.71%
SHAREHOLDERS EQUITY
Retained Earnings $1.892B $1.833B
YoY Change 3.23% 6.1%
Common Stock $87.40M $88.70M
YoY Change -1.47% -1.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.659B $1.490B
YoY Change
Total Liabilities & Shareholders Equity $3.872B $3.670B
YoY Change 5.48% -3.64%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $101.2M $46.00M
YoY Change 120.0% 22.99%
Depreciation, Depletion And Amortization $27.60M $24.80M
YoY Change 11.29% -1.98%
Cash From Operating Activities $41.20M $26.30M
YoY Change 56.65% 99.24%
INVESTING ACTIVITIES
Capital Expenditures -$28.70M -$36.70M
YoY Change -21.8% 74.76%
Acquisitions $0.00 $113.7M
YoY Change -100.0% 56750.0%
Other Investing Activities -$500.0K -$300.0K
YoY Change 66.67% 200.0%
Cash From Investing Activities -$28.20M -$150.1M
YoY Change -81.21% 505.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $54.70M -$3.600M
YoY Change -1619.44% -550.0%
Debt Paid & Issued, Net $1.500M $300.0K
YoY Change 400.0% 0.0%
Cash From Financing Activities 27.70M 3.700M
YoY Change 648.65% -78.11%
NET CHANGE
Cash From Operating Activities 41.20M 26.30M
Cash From Investing Activities -28.20M -150.1M
Cash From Financing Activities 27.70M 3.700M
Net Change In Cash 40.70M -120.1M
YoY Change -133.89% -2366.04%
FREE CASH FLOW
Cash From Operating Activities $41.20M $26.30M
Capital Expenditures -$28.70M -$36.70M
Free Cash Flow $69.90M $63.00M
YoY Change 10.95% 84.21%

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CY2017Q1 us-gaap Depreciation
Depreciation
18300000 USD
CY2018Q1 us-gaap Depreciation
Depreciation
20700000 USD
CY2018Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
2500000 USD
CY2017Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
800000 USD
CY2018Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
600000 USD
CY2017Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-100000 USD
CY2018Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
100000 USD
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.15
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.14
CY2017Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
7900000 USD
CY2018Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
8200000 USD
CY2017Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.166
CY2018Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.070
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
147200000 USD
CY2018Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
120000000 USD
CY2017Q4 us-gaap Equity Method Investments
EquityMethodInvestments
6700000 USD
CY2018Q1 us-gaap Equity Method Investments
EquityMethodInvestments
7400000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
105400000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
110300000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
234100000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
234400000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
128700000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
124100000 USD
CY2017Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
74500000 USD
CY2018Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
75100000 USD
CY2017Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
65700000 USD
CY2018Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
65100000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
886800000 USD
CY2018Q1 us-gaap Goodwill
Goodwill
895700000 USD
CY2018Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-5600000 USD
CY2018Q1 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
3300000 USD
CY2017Q1 us-gaap Gross Profit
GrossProfit
203100000 USD
CY2018Q1 us-gaap Gross Profit
GrossProfit
224200000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
46100000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
101100000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
54800000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
108800000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
45700000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
101200000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.52
CY2018Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.15
CY2017Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.52
CY2018Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.14
CY2017Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-100000 USD
CY2018Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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0.00
CY2017Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2018Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
100000 USD
CY2017Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2018Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9100000 USD
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7600000 USD
CY2017Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
13200000 USD
CY2018Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
7000000 USD
CY2017Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2500000 USD
CY2018Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
10400000 USD
CY2017Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-3500000 USD
CY2018Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-31200000 USD
CY2017Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1600000 USD
CY2018Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
20700000 USD
CY2017Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
7700000 USD
CY2018Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
3600000 USD
CY2017Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
34700000 USD
CY2018Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
13300000 USD
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
700000 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000 shares
CY2017Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
27500000 USD
CY2018Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
27700000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
156200000 USD
CY2018Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
151800000 USD
CY2017Q1 us-gaap Interest Paid Net
InterestPaidNet
1000000 USD
CY2018Q1 us-gaap Interest Paid Net
InterestPaidNet
1000000 USD
CY2017Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
55900000 USD
CY2018Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
62700000 USD
CY2017Q4 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
38100000 USD
CY2018Q1 us-gaap Inventory For Long Term Contracts Or Programs
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40900000 USD
CY2017Q4 us-gaap Inventory Net
InventoryNet
311900000 USD
CY2018Q1 us-gaap Inventory Net
InventoryNet
404900000 USD
CY2017Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
184400000 USD
CY2018Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
212400000 USD
CY2017Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
54800000 USD
CY2018Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
88900000 USD
CY2017Q4 us-gaap Land
Land
28700000 USD
CY2018Q1 us-gaap Land
Land
29200000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
2102400000 USD
CY2018Q1 us-gaap Liabilities
Liabilities
2211000000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3700200000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3871500000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
899400000 USD
CY2018Q1 us-gaap Liabilities Current
LiabilitiesCurrent
1009100000 USD
CY2017Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
1203000000 USD
CY2018Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
1201900000 USD
CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
8300000 USD
CY2018Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
8000000 USD
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1200000 USD
CY2018Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
1400000 USD
CY2017Q1 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
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866600000 USD
CY2017Q4 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
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800100000 USD
CY2018Q1 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
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792900000 USD
CY2017Q4 us-gaap Machinery And Equipment Gross
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1039900000 USD
CY2018Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
1062300000 USD
CY2017Q4 us-gaap Minority Interest
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1700000 USD
CY2018Q1 us-gaap Minority Interest
MinorityInterest
1900000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
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-800000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-1200000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
3700000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
27700000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-150100000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-28200000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
26900000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
42400000 USD
CY2017Q1 us-gaap Net Income Loss
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46000000 USD
CY2018Q1 us-gaap Net Income Loss
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101200000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
100000 USD
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2200000 USD
CY2018Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1800000 USD
CY2017Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
3900000 USD
CY2018Q1 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
4400000 USD
CY2018Q1 us-gaap Number Of Reportable Segments
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3 Segment
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
57000000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
110600000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
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38700000 USD
CY2018Q1 us-gaap Other Accrued Liabilities Current
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39500000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
56300000 USD
CY2018Q1 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
51600000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
147400000 USD
CY2018Q1 us-gaap Other Assets Current
OtherAssetsCurrent
173000000 USD
CY2017Q4 us-gaap Other Assets Miscellaneous Current
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1500000 USD
CY2018Q1 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
1400000 USD
CY2017Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
18500000 USD
CY2018Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
19200000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
202900000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
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202800000 USD
CY2018Q1 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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-900000 USD
CY2017Q1 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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-500000 USD
CY2017Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
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-500000 USD
CY2018Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
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-400000 USD
CY2017Q1 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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-700000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-200000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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19200000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
26500000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
20300000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
27600000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-1100000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-1100000 USD
CY2017Q1 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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-1800000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-2000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-1000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-600000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
1100000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
1100000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
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175600000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
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181400000 USD
CY2017Q4 us-gaap Other Prepaid Expense Current
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50900000 USD
CY2018Q1 us-gaap Other Prepaid Expense Current
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56700000 USD
CY2017Q4 us-gaap Other Receivables
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40400000 USD
CY2018Q1 us-gaap Other Receivables
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21800000 USD
CY2017Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2018Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2300000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
55300000 USD
CY2017Q1 us-gaap Payments For Restructuring
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5400000 USD
CY2018Q1 us-gaap Payments For Restructuring
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2400000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
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200000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
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200000 USD
CY2017Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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113700000 USD
CY2018Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2017Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
36700000 USD
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
28700000 USD
CY2017Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
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227300000 USD
CY2018Q1 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
227600000 USD
CY2017Q4 us-gaap Prepaid Taxes
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30300000 USD
CY2018Q1 us-gaap Prepaid Taxes
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24400000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
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5900000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
600000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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2100000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
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600000 USD
CY2017Q4 us-gaap Product Warranty Accrual Classified Current
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17000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
CY2017Q1 us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
-1500000 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
-162400000 USD
CY2017Q1 us-gaap Proceeds From Short Term Debt
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0 USD
CY2018Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
246500000 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
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5900000 USD
CY2018Q1 us-gaap Product Warranty Accrual Classified Current
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17400000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
45600000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
101300000 USD
CY2017Q4 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
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21300000 USD
CY2018Q1 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
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0 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
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1474900000 USD
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1510400000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
521700000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
526600000 USD
CY2017Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
10900000 USD
CY2018Q1 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
11100000 USD
CY2017Q4 us-gaap Receivables Net Current
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629600000 USD
CY2018Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
581400000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
300000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1500000 USD
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
22400000 USD
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
24700000 USD
CY2017Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
2600000 USD
CY2018Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
900000 USD
CY2016Q4 us-gaap Restructuring Reserve
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14600000 USD
CY2017Q1 us-gaap Restructuring Reserve
RestructuringReserve
12800000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
8900000 USD
CY2018Q1 us-gaap Restructuring Reserve
RestructuringReserve
8600000 USD
CY2017Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
1000000 USD
CY2018Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
1200000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1856100000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1891800000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
689300000 USD
CY2017Q1 us-gaap Revenues
Revenues
625800000 USD
CY2018Q1 us-gaap Revenues
Revenues
689300000 USD
CY2017Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
43100000 USD
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
43500000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3700000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4500000 USD
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2018Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
246500000 USD
CY2018Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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16000000 USD
CY2017Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
300000 shares
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
100000 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1596100000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
1658600000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1428400000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1492000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1597800000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1660500000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89200000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88500000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88000000 shares
CY2018Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<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 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&#8217;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;">2017</font><font style="font-family:Arial;font-size:10pt;"> (</font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">2017</font><font style="font-family:Arial;font-size:10pt;"> Annual Report) in preparing these unaudited financial statements, other than those described below. 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;">2017</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, 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&#8217;s quarterly financial periods end on the Saturday that is generally closest to the last day of the calendar quarter, except for the last quarterly period of the fiscal year, which ends on December 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 style="line-height:120%;padding-top:8px;text-align:justify;text-indent:16px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Certain prior year amounts have been reclassified or restated to conform to the current year presentation. For further information, refer to </font><font style="font-family:Arial;font-size:10pt;">Note 2</font><font style="font-family:Arial;font-size:10pt;">, </font><a style="font-family:Arial;font-size:10pt;" href="#s3FC06ECF9EE15A2B8113868187A24E7D"><font style="font-family:Arial;font-size:10pt;">Recent Accounting Pronouncements</font></a><font style="font-family:Arial;font-size:10pt;">. </font></div></div>
CY2018Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<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;padding-top:8px;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02 impacting the accounting for leases intending to increase transparency and comparability of organizations by requiring balance sheet presentation of leased assets and increased financial statement disclosure of leasing arrangements. The revised standard will require entities to recognize a liability for their lease obligations and a corresponding asset representing the right to use the underlying asset over the lease term. Lease obligations are to be measured at the present value of lease payments and accounted for using the effective interest method. The accounting for the leased asset will differ slightly depending on whether the agreement is deemed to be a financing or operating lease. For financing leases, the leased asset is depreciated on a straight-line basis and recorded separately from the interest expense in the statements of operations, resulting in higher expense in the earlier part of the lease term. For operating leases, the depreciation and interest expense components are combined, recognized evenly over the term of the lease, and presented as a reduction to operating income. The ASU requires that assets and liabilities be presented or disclosed separately and classified appropriately as current and noncurrent. The ASU further requires additional disclosure of certain qualitative and quantitative information related to lease agreements. The ASU is effective for the Company beginning in the first quarter 2019, at which time we expect to adopt the new standard. We are currently assessing our existing lease agreements and related financial disclosures to evaluate the impact of these amendments on our financial statements.</font></div></div>

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