$ITT
ITT INC.

2019 Q1 Form 10-Q Financial Statement

#000021622819000013 Filed on May 03, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $695.5M $689.3M
YoY Change 0.9% 10.15%
Cost Of Revenue $476.7M $465.1M
YoY Change 2.49% 10.03%
Gross Profit $218.8M $224.2M
YoY Change -2.41% 10.39%
Gross Profit Margin 31.46% 32.53%
Selling, General & Admin $92.10M $108.6M
YoY Change -15.19% -0.18%
% of Gross Profit 42.09% 48.44%
Research & Development $23.50M $24.70M
YoY Change -4.86% 10.27%
% of Gross Profit 10.74% 11.02%
Depreciation & Amortization $26.40M $27.60M
YoY Change -4.35% 11.29%
% of Gross Profit 12.07% 12.31%
Operating Expenses $115.6M $133.3M
YoY Change -13.28% 1.6%
Operating Profit $90.60M $110.6M
YoY Change -18.08% 94.04%
Interest Expense $500.0K -$1.800M
YoY Change -127.78% 125.0%
% of Operating Profit 0.55% -1.63%
Other Income/Expense, Net $500.0K -$1.800M
YoY Change -127.78% -18.18%
Pretax Income $91.10M $108.8M
YoY Change -16.27% 98.54%
Income Tax $19.70M $7.600M
% Of Pretax Income 21.62% 6.99%
Net Earnings $71.30M $101.2M
YoY Change -29.55% 120.0%
Net Earnings / Revenue 10.25% 14.68%
Basic Earnings Per Share $0.81 $1.15
Diluted Earnings Per Share $0.80 $1.14
COMMON SHARES
Basic Shares Outstanding 87.60M shares 88.00M shares
Diluted Shares Outstanding 88.60M shares 89.00M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $554.0M $439.0M
YoY Change 26.2% 10.3%
Cash & Equivalents $554.0M $438.7M
Short-Term Investments
Other Short-Term Assets $146.0M $173.0M
YoY Change -15.61% 21.83%
Inventory $396.2M $404.9M
Prepaid Expenses
Receivables $578.0M $581.0M
Other Receivables $27.00M $26.00M
Total Short-Term Assets $1.679B $1.598B
YoY Change 5.06% 15.89%
LONG-TERM ASSETS
Property, Plant & Equipment $513.2M $526.6M
YoY Change -2.54% 9.37%
Goodwill $872.5M $895.7M
YoY Change -2.59% 3.47%
Intangibles $131.7M $151.8M
YoY Change -13.24% -3.13%
Long-Term Investments $8.200M $7.400M
YoY Change 10.81%
Other Assets $276.6M $202.8M
YoY Change 36.39% 8.97%
Total Long-Term Assets $2.258B $2.274B
YoY Change -0.67% -0.79%
TOTAL ASSETS
Total Short-Term Assets $1.679B $1.598B
Total Long-Term Assets $2.258B $2.274B
Total Assets $3.937B $3.872B
YoY Change 1.69% 5.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $344.4M $367.0M
YoY Change -6.16% 17.03%
Accrued Expenses $401.7M $394.2M
YoY Change 1.9% 9.77%
Deferred Revenue $61.70M
YoY Change
Short-Term Debt $112.0M $246.5M
YoY Change -54.56% 146.5%
Long-Term Debt Due $2.100M $1.400M
YoY Change 50.0% 27.27%
Total Short-Term Liabilities $860.5M $1.009B
YoY Change -14.73% 13.92%
LONG-TERM LIABILITIES
Long-Term Debt $15.00M $8.000M
YoY Change 87.5%
Other Long-Term Liabilities $228.2M $181.4M
YoY Change 25.8% 4.19%
Total Long-Term Liabilities $1.205B $1.202B
YoY Change 0.28% -7.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $860.5M $1.009B
Total Long-Term Liabilities $1.205B $1.202B
Total Liabilities $2.066B $2.211B
YoY Change -6.57% 1.5%
SHAREHOLDERS EQUITY
Retained Earnings $2.158B $1.892B
YoY Change 14.08% 3.23%
Common Stock $87.80M $87.40M
YoY Change 0.46% -1.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.869B $1.659B
YoY Change
Total Liabilities & Shareholders Equity $3.937B $3.872B
YoY Change 1.69% 5.48%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $71.30M $101.2M
YoY Change -29.55% 120.0%
Depreciation, Depletion And Amortization $26.40M $27.60M
YoY Change -4.35% 11.29%
Cash From Operating Activities $41.70M $41.20M
YoY Change 1.21% 56.65%
INVESTING ACTIVITIES
Capital Expenditures -$29.20M -$28.70M
YoY Change 1.74% -21.8%
Acquisitions $0.00 $0.00
YoY Change -100.0%
Other Investing Activities -$400.0K -$500.0K
YoY Change -20.0% 66.67%
Cash From Investing Activities -$28.80M -$28.20M
YoY Change 2.13% -81.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $14.80M $54.70M
YoY Change -72.94% -1619.44%
Debt Paid & Issued, Net $200.0K $1.500M
YoY Change -86.67% 400.0%
Cash From Financing Activities -$21.00M 27.70M
YoY Change -175.81% 648.65%
NET CHANGE
Cash From Operating Activities 41.70M 41.20M
Cash From Investing Activities -$28.80M -28.20M
Cash From Financing Activities -$21.00M 27.70M
Net Change In Cash -$7.400M 40.70M
YoY Change -118.18% -133.89%
FREE CASH FLOW
Cash From Operating Activities $41.70M $41.20M
Capital Expenditures -$29.20M -$28.70M
Free Cash Flow $70.90M $69.90M
YoY Change 1.43% 10.95%

Facts In Submission

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9900000 USD
CY2018Q1 itt Asbestos Related Payments
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12800000 USD
CY2019Q1 us-gaap Increase Decrease In Receivables
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47100000 USD
CY2018Q1 us-gaap Increase Decrease In Receivables
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13300000 USD
CY2019Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
17300000 USD
CY2018Q1 us-gaap Increase Decrease In Inventories
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20700000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Payable
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18800000 USD
CY2018Q1 us-gaap Increase Decrease In Accounts Payable
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10400000 USD
CY2019Q1 us-gaap Increase Decrease In Accrued Liabilities
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-29500000 USD
CY2018Q1 us-gaap Increase Decrease In Accrued Liabilities
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-31200000 USD
CY2019Q1 itt Increase Decreasein Accruedand Deferred Income Taxes
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9500000 USD
CY2018Q1 itt Increase Decreasein Accruedand Deferred Income Taxes
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100000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Capital Net
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2200000 USD
CY2018Q1 us-gaap Increase Decrease In Other Operating Capital Net
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3600000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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42100000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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42400000 USD
CY2019Q1 us-gaap Payments To Acquire Productive Assets
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29200000 USD
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
28700000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
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-400000 USD
CY2018Q1 us-gaap Payments For Proceeds From Other Investing Activities
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-500000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-28800000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-28200000 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Commercial Paper
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0 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Commercial Paper
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CY2019Q1 us-gaap Proceeds From Short Term Debt
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0 USD
CY2018Q1 us-gaap Proceeds From Short Term Debt
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246500000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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7100000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
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200000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
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1500000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
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19900000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
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55300000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
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5100000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
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600000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
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13200000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
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200000 USD
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100000 USD
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-21000000.0 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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27700000 USD
CY2019Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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700000 USD
CY2018Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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8200000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
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CY2018Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
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CY2019Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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48900000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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562200000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
391000000.0 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
554800000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
439900000 USD
CY2019Q1 us-gaap Interest Paid Net
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1000000.0 USD
CY2018Q1 us-gaap Interest Paid Net
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1000000.0 USD
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9300000 USD
CY2018Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
7000000.0 USD
CY2017Q4 us-gaap Common Stock Shares Issued
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88200000 shares
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1856100000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1597800000 USD
CY2018Q1 us-gaap Net Income Loss
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101200000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
100000 USD
CY2018Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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101300000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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5000000.0 USD
CY2018Q1 us-gaap Stock Repurchased During Period Value
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55300000 USD
CY2018Q1 us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
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CY2018Q1 us-gaap Dividends Common Stock Cash
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11900000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
27600000 USD
CY2018Q1 itt Chane In Equity From Noncontrolling Interest Attributable To Other
ChaneInEquityFromNoncontrollingInterestAttributableToOther
100000 USD
CY2018Q1 us-gaap Common Stock Shares Issued
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CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
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1891800000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1660500000 USD
CY2018Q4 us-gaap Common Stock Shares Issued
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87600000 shares
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
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2110300000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1824900000 USD
CY2019Q1 us-gaap Net Income Loss
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71300000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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100000 USD
CY2019Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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71400000 USD
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9500000 USD
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19900000 USD
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12900000 USD
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100000 USD
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CY2019Q1 us-gaap Basis Of Accounting
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Basis of Presentation<div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:16px;font-size:10pt;"><span 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 known adjustments (which consist primarily of normal, recurring accruals, estimates and assumptions) necessary to present fairly the financial position, results of operations, and cash flows for the periods presented. The Consolidated Condensed Balance Sheet as of December 31, </span><span style="font-family:Arial;font-size:10pt;">2018</span><span style="font-family:Arial;font-size:10pt;">, presented herein, has been derived from our audited balance sheet included in our </span><a href="#" style="font-family:Arial;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Annual Report on Form 10-K</span></a><span style="font-family:Arial;font-size:10pt;"> (the </span><span style="font-family:Arial;font-size:10pt;">2018</span><span style="font-family:Arial;font-size:10pt;"> Annual Report) for the year ended December 31, </span><span style="font-family:Arial;font-size:10pt;">2018</span><span style="font-family:Arial;font-size:10pt;"> but does not include all disclosures required by GAAP. We consistently applied the accounting policies described in the </span><span style="font-family:Arial;font-size:10pt;">2018</span><span style="font-family:Arial;font-size:10pt;"> Annual Report in preparing these unaudited financial statements, other than those related to new accounting standards adopted during the period. Refer to </span><span style="font-family:Arial;font-size:10pt;">Note 2</span><span style="font-family:Arial;font-size:10pt;">, </span><a href="#s9C42E2AE8CF0505D897FA8E6B742A31E" style="font-family:Arial;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">Recent Accounting Pronouncements</span></a><span style="font-family:Arial;font-size:10pt;"> for further information. These financial statements should be read in conjunction with the financial statements and notes thereto included in our </span><span style="font-family:Arial;font-size:10pt;">2018</span><span style="font-family:Arial;font-size:10pt;"> Annual Report.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:16px;font-size:10pt;"><span 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. </span></div>ITT’s quarterly financial periods end on the Saturday that is 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.
CY2019Q1 itt Rightof Use Asset
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80000000.0 USD
CY2019Q1 us-gaap Deferred Rent Credit
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3400000 USD
CY2019Q1 itt Operatingand Finance Lease Liability
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83400000 USD
CY2019Q2 invest Investment Foreign Currency Contract Foreign Currency Amount
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15000000 USD
CY2019Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
Accounting Pronouncements Not Yet Adopted<div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:italic;">Measurement of Credit Losses on Financial Instruments (ASU 2016-13)</span></div>In June 2016, the FASB issued updated guidance that requires entities to use a current expected credit loss model to measure credit-related impairments for financial instruments held at amortized cost, including trade receivables. The current expected credit loss model is based on relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect collectability. Current expected credit losses, and subsequent adjustments, represent an estimate of lifetime expected credit losses that are recorded as an allowance deducted from the amortized cost of the financial instrument. The updated guidance also amends the other-than-temporary impairment model for available-for-sale debt securities by requiring the recognition of impairments for credit-related losses through an allowance and eliminating the length of time a security has been in an unrealized loss position as a consideration in the determination of whether a credit loss exists. The updated guidance is effective for the Company beginning on January 1, 2020 and will be adopted using a modified retrospective transition approach for the provisions related to application of the current expected credit loss model to financial instruments and using a prospective transition approach for the provisions related to credit losses on available-for-sale debt securities. The Company is currently evaluating the effect of adoption on our financial statements.
CY2019Q1 us-gaap Number Of Reportable Segments
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3 Segment
CY2019Q1 us-gaap Revenues
Revenues
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CY2018Q1 us-gaap Revenues
Revenues
689300000 USD
CY2019Q1 us-gaap Operating Income Loss
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90600000 USD
CY2018Q1 us-gaap Operating Income Loss
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CY2019Q1 itt Operating Margin
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CY2018Q1 itt Operating Margin
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CY2019Q1 us-gaap Assets
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CY2018Q4 us-gaap Assets
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CY2018Q1 us-gaap Payments To Acquire Productive Assets
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26400000 USD
CY2018Q1 us-gaap Depreciation Depletion And Amortization
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27600000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q1 us-gaap Contract With Customer Asset Net Current
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CY2018Q4 us-gaap Contract With Customer Asset Net Current
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CY2019Q1 itt Current Contract Assets Percentage Changefrom Prior Period
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CY2019Q1 us-gaap Contract With Customer Asset Net Noncurrent
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CY2018Q4 us-gaap Contract With Customer Asset Net Noncurrent
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CY2019Q1 itt Noncurrent Contract Assets Percentage Changefrom Prior Period
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CY2019Q1 us-gaap Contract With Customer Liability
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CY2018Q4 us-gaap Contract With Customer Liability
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CY2019Q1 itt Current Contract Liabilities Percentage Changefrom Prior Period
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-0.034
CY2019Q1 itt Net Contract Liabilities
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35600000 USD
CY2018Q4 itt Net Contract Liabilities
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38500000 USD
CY2019Q1 itt Net Contract Liability Percentage Changefrom Prior Period
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CY2019Q1 us-gaap Contract With Customer Liability Revenue Recognized
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CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19700000 USD
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7600000 USD
CY2019Q1 itt Income Tax Expense Increasefrom Prior Year Percent Change
IncomeTaxExpenseIncreasefromPriorYearPercentChange
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CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2018Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2019Q1 itt Effective Tax Rate Increasefrom Prior Year Basis Point Change
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1460
CY2018Q1 itt Changeto Provisional One Time Us Tax Expenseon Post1986 Foreign Earnings
ChangetoProvisionalOneTimeUSTaxExpenseonPost1986ForeignEarnings
4500000 USD
CY2019Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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15000000 USD
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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87600000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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88000000.0 shares
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1000000.0 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1000000.0 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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88600000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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89000000.0 shares
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2018Q1 itt Numberof Roic Awards Excludedfrom Diluted Shares Outstanding
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200000 shares
CY2019Q1 us-gaap Accounts Receivable Gross Current
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566800000 USD
CY2019Q1 us-gaap Notes And Loans Receivable Gross Current
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5600000 USD
CY2018Q4 us-gaap Notes And Loans Receivable Gross Current
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3700000 USD
CY2019Q1 us-gaap Other Receivables
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21300000 USD
CY2018Q4 us-gaap Other Receivables
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22900000 USD
CY2019Q1 itt Receivables Gross Current
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593700000 USD
CY2018Q4 itt Receivables Gross Current
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558300000 USD
CY2019Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
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11000000.0 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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18300000 USD
CY2019Q1 us-gaap Receivables Net Current
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CY2018Q4 us-gaap Receivables Net Current
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540000000.0 USD
CY2019Q1 us-gaap Inventory Finished Goods
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63800000 USD
CY2018Q4 us-gaap Inventory Finished Goods
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62000000.0 USD
CY2019Q1 us-gaap Inventory Work In Process
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71600000 USD
CY2018Q4 us-gaap Inventory Work In Process
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66800000 USD
CY2019Q1 us-gaap Inventory Raw Materials And Supplies
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211100000 USD
CY2018Q4 us-gaap Inventory Raw Materials And Supplies
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206000000.0 USD
CY2019Q1 us-gaap Inventory For Long Term Contracts Or Programs
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49700000 USD
CY2018Q4 us-gaap Inventory For Long Term Contracts Or Programs
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45700000 USD
CY2019Q1 us-gaap Inventory Net
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396200000 USD
CY2018Q4 us-gaap Inventory Net
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380500000 USD
CY2019Q1 itt Asbestos Related Current Assets
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67100000 USD
CY2018Q4 itt Asbestos Related Current Assets
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67100000 USD
CY2019Q1 us-gaap Other Prepaid Expense Current
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41000000.0 USD
CY2018Q4 us-gaap Other Prepaid Expense Current
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44500000 USD
CY2019Q1 us-gaap Contract With Customer Asset Net Current
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22600000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net Current
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21800000 USD
CY2019Q1 us-gaap Prepaid Taxes
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14200000 USD
CY2018Q4 us-gaap Prepaid Taxes
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19600000 USD
CY2019Q1 us-gaap Other Assets Miscellaneous Current
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1100000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous Current
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10400000 USD
CY2019Q1 us-gaap Other Assets Current
OtherAssetsCurrent
146000000.0 USD
CY2018Q4 us-gaap Other Assets Current
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163400000 USD
CY2019Q1 itt Other Employee Benefit Related Assets
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108500000 USD
CY2018Q4 itt Other Employee Benefit Related Assets
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104700000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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76400000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2019Q1 us-gaap Capitalized Computer Software Net
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33600000 USD
CY2018Q4 us-gaap Capitalized Computer Software Net
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35300000 USD
CY2019Q1 itt Estimated Environmental Related Assets
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23400000 USD
CY2018Q4 itt Estimated Environmental Related Assets
EstimatedEnvironmentalRelatedAssets
23400000 USD
CY2019Q1 us-gaap Equity Method Investments
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8200000 USD
CY2018Q4 us-gaap Equity Method Investments
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7700000 USD
CY2019Q1 us-gaap Other Assets Miscellaneous Noncurrent
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26500000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
25700000 USD
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
276600000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
196800000 USD
CY2019Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
1061500000 USD
CY2018Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
1056900000 USD
CY2019Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
265900000 USD
CY2018Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
265300000 USD
CY2019Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
69400000 USD
CY2018Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
69100000 USD
CY2019Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
67800000 USD
CY2018Q4 us-gaap Land
Land
27800000 USD
CY2018Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
67900000 USD
CY2019Q1 us-gaap Land
Land
27500000 USD
CY2019Q1 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
10400000 USD
CY2018Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
10300000 USD
CY2019Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1502500000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1497300000 USD
CY2019Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
989300000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
978500000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
513200000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
518800000 USD
CY2019Q1 us-gaap Depreciation
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20200000 USD
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FiniteLivedIntangibleAssetsAccumulatedAmortization
125100000 USD
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FiniteLivedIntangibleAssetsNet
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230100000 USD
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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27100000 USD
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IndefiniteLivedIntangibleAssetsExcludingGoodwill
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IndefiniteLivedIntangibleAssetsExcludingGoodwill
27200000 USD
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AmortizationOfIntangibleAssets
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ContractLiabilitiesandOtherCustomerRelatedLiabilities
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ContractLiabilitiesandOtherCustomerRelatedLiabilities
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AsbestosRelatedLiabilityCurrent
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0 USD
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16400000 USD
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ProductWarrantyAccrualClassifiedCurrent
16200000 USD
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30800000 USD
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34200000 USD
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401700000 USD
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59500000 USD
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CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
33700000 USD
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CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
34200000 USD
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DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
24800000 USD
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DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
25000000.0 USD
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OtherAccruedLiabilitiesNoncurrent
50800000 USD
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OtherAccruedLiabilitiesNoncurrent
47800000 USD
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OtherLiabilitiesNoncurrent
228200000 USD
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OtherLiabilitiesNoncurrent
166500000 USD
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OperatingLeaseCost
5600000 USD
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ShortTermLeaseCost
400000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
300000 USD
CY2019Q1 us-gaap Lease Cost
LeaseCost
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CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
16500000 USD
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OperatingLeasesFutureMinimumPaymentsDueInThreeYears
12500000 USD
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OperatingLeasesFutureMinimumPaymentsDueInFourYears
10200000 USD
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OperatingLeasesFutureMinimumPaymentsDueInFiveYears
8100000 USD
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OperatingLeasesFutureMinimumPaymentsDueThereafter
47100000 USD
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OperatingLeasesFutureMinimumPaymentsDue
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30100000 USD
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DiscountedObligationforOperatingLeasePayments
80400000 USD
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18300000 USD
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OperatingLeaseLiabilityNoncurrent
62100000 USD
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80400000 USD
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OperatingLeasesFutureMinimumPaymentsDueCurrent
22200000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
16800000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
12600000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
10200000 USD
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OperatingLeasesFutureMinimumPaymentsDueInFiveYears
8100000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
46400000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
116300000 USD
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OperatingLeaseWeightedAverageRemainingLeaseTerm1
P14Y10M24D
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OperatingLeaseWeightedAverageDiscountRatePercent
0.031
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CapitalizedRightofUseAssetsduringthePeriod
1700000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
5200000 USD
CY2019Q1 us-gaap Commercial Paper
CommercialPaper
112300000 USD
CY2018Q4 us-gaap Commercial Paper
CommercialPaper
114400000 USD
CY2019Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
2100000 USD
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LongTermDebtCurrent
1800000 USD
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DebtCurrent
114400000 USD
CY2018Q4 us-gaap Debt Current
DebtCurrent
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CY2019Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
15200000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
8800000 USD
CY2019Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
129600000 USD
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DebtAndCapitalLeaseObligations
125000000.0 USD
CY2019Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
600000 USD
CY2018Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
600000 USD
CY2019Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
4100000 USD
CY2018Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
3900000 USD
CY2019Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
3800000 USD
CY2018Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
3500000 USD
CY2019Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-1100000 USD
CY2019Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1900000 USD
CY2018Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-1100000 USD
CY2018Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-2600000 USD
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DefinedBenefitPlanNetPeriodicBenefitCost
1700000 USD
CY2018Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
2500000 USD
CY2019Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
3000000.0 USD
CY2018Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
3500000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
600000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
1100000 USD
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4500000 USD
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4500000 USD
CY2019Q1 itt Sharebasedcompensationcostsliabilitybasedawards
Sharebasedcompensationcostsliabilitybasedawards
700000 USD
CY2018Q1 itt Sharebasedcompensationcostsliabilitybasedawards
Sharebasedcompensationcostsliabilitybasedawards
100000 USD
CY2019Q1 itt Sharebasedcompensationcosts Total
SharebasedcompensationcostsTotal
5200000 USD
CY2018Q1 itt Sharebasedcompensationcosts Total
SharebasedcompensationcostsTotal
4600000 USD
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
200000 shares
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
100000 shares
CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5100000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
600000 USD
CY2019Q1 itt Number Of Shares Repurchased Under Settlement Of Employee Tax Withholding Obligations
NumberOfSharesRepurchasedUnderSettlementOfEmployeeTaxWithholdingObligations
100000 shares
CY2019Q1 itt Shares Repurchased Aggregate Value Under Settlement Of Employee Tax Withholding Obligations
SharesRepurchasedAggregateValueUnderSettlementOfEmployeeTaxWithholdingObligations
9400000 USD
CY2018Q1 itt Shares Repurchased Aggregate Value Under Settlement Of Employee Tax Withholding Obligations
SharesRepurchasedAggregateValueUnderSettlementOfEmployeeTaxWithholdingObligations
5300000 USD
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
137600000 USD
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-210600000 USD
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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-348200000 USD
CY2018Q1 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 Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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26500000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
27600000 USD
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136500000 USD
CY2018Q1 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-184100000 USD
CY2018Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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131600000 USD
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CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-600000 USD
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-2400000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q1 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
131000000.0 USD
CY2019Q1 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-246300000 USD
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AccumulatedOtherComprehensiveIncomeLossNetOfTax
-377300000 USD
CY2018Q4 itt Asbestos Liability And Related Assets Net Current And Noncurrent
AsbestosLiabilityAndRelatedAssetsNetCurrentAndNoncurrent
472600000 USD
CY2017Q4 itt Asbestos Liability And Related Assets Net Current And Noncurrent
AsbestosLiabilityAndRelatedAssetsNetCurrentAndNoncurrent
508500000 USD
CY2019Q1 itt Asbestos Related Costs Benefit Provisionto Maintain10 Year Forecast Period
AsbestosRelatedCostsBenefitProvisiontoMaintain10YearForecastPeriod
12600000 USD
CY2018Q1 itt Asbestos Related Costs Benefit Provisionto Maintain10 Year Forecast Period
AsbestosRelatedCostsBenefitProvisiontoMaintain10YearForecastPeriod
12400000 USD
CY2019Q1 itt Asbestos Related Costs Benefit Settlement Agreement
AsbestosRelatedCostsBenefitSettlementAgreement
0 USD
CY2018Q1 itt Asbestos Related Costs Benefit Settlement Agreement
AsbestosRelatedCostsBenefitSettlementAgreement
-32100000 USD
CY2019Q1 itt Increase Decrease Net Cash Activity
IncreaseDecreaseNetCashActivity
-9900000 USD
CY2018Q1 itt Increase Decrease Net Cash Activity
IncreaseDecreaseNetCashActivity
-12800000 USD
CY2019Q1 itt Asbestos Liability And Related Assets Net Current And Noncurrent
AsbestosLiabilityAndRelatedAssetsNetCurrentAndNoncurrent
475300000 USD
CY2018Q1 itt Asbestos Liability And Related Assets Net Current And Noncurrent
AsbestosLiabilityAndRelatedAssetsNetCurrentAndNoncurrent
476000000.0 USD
CY2019Q1 itt Asbestos Related Liability Current
AsbestosRelatedLiabilityCurrent
73500000 USD
CY2019Q1 itt Asbestos Related Current Assets
AsbestosRelatedCurrentAssets
67100000 USD
CY2018Q1 itt Asbestos Related Liability Current
AsbestosRelatedLiabilityCurrent
77400000 USD
CY2018Q1 itt Asbestos Related Current Assets
AsbestosRelatedCurrentAssets
64700000 USD
CY2019Q1 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
LossContingencyAccrualCarryingValueNoncurrent
771400000 USD
CY2019Q1 itt Asbestos Related Assets
AsbestosRelatedAssets
302500000 USD
CY2018Q1 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
LossContingencyAccrualCarryingValueNoncurrent
792900000 USD
CY2018Q1 itt Asbestos Related Assets
AsbestosRelatedAssets
329600000 USD
CY2018Q1 itt Paymentsto Prepare Former Operation Locationfor Sale
PaymentstoPrepareFormerOperationLocationforSale
6600000 USD
CY2018Q4 itt Estimated Environmental Related Assets
EstimatedEnvironmentalRelatedAssets
23400000 USD

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