$ITT
ITT INC.

2019 Q2 Form 10-Q Financial Statement

#000021622819000025 Filed on August 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $719.9M $696.8M
YoY Change 3.32% 10.45%
Cost Of Revenue $487.9M $470.8M
YoY Change 3.63% 10.54%
Gross Profit $232.0M $226.0M
YoY Change 2.65% 10.24%
Gross Profit Margin 32.23% 32.43%
Selling, General & Admin $105.3M $106.4M
YoY Change -1.03% -1.85%
% of Gross Profit 45.39% 47.08%
Research & Development $25.80M $25.80M
YoY Change 0.0% 14.16%
% of Gross Profit 11.12% 11.42%
Depreciation & Amortization $20.50M $21.00M
YoY Change -2.38% 9.38%
% of Gross Profit 8.84% 9.29%
Operating Expenses $131.1M $132.2M
YoY Change -0.83% 0.92%
Operating Profit $86.00M $80.30M
YoY Change 7.1% 35.87%
Interest Expense $400.0K -$1.500M
YoY Change -126.67% -266.67%
% of Operating Profit 0.47% -1.87%
Other Income/Expense, Net $400.0K -$1.500M
YoY Change -126.67% 200.0%
Pretax Income $86.40M $78.80M
YoY Change 9.64% 34.47%
Income Tax $19.30M $8.900M
% Of Pretax Income 22.34% 11.29%
Net Earnings $66.80M $69.70M
YoY Change -4.16% 45.82%
Net Earnings / Revenue 9.28% 10.0%
Basic Earnings Per Share $0.76 $0.80
Diluted Earnings Per Share $0.75 $0.79
COMMON SHARES
Basic Shares Outstanding 87.80M shares 87.50M shares
Diluted Shares Outstanding 88.70M shares 88.40M shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $532.0M $450.0M
YoY Change 18.22% 26.76%
Cash & Equivalents $531.9M $449.6M
Short-Term Investments
Other Short-Term Assets $149.1M $175.1M
YoY Change -14.85% 22.53%
Inventory $421.4M $393.5M
Prepaid Expenses
Receivables $601.0M $562.0M
Other Receivables $27.00M $23.00M
Total Short-Term Assets $1.702B $1.579B
YoY Change 7.84% 12.42%
LONG-TERM ASSETS
Property, Plant & Equipment $534.1M $506.1M
YoY Change 5.53% 3.03%
Goodwill $931.0M $879.9M
YoY Change 5.81% -0.45%
Intangibles $128.1M $145.3M
YoY Change -11.84% -5.34%
Long-Term Investments $8.800M $7.800M
YoY Change 12.82%
Other Assets $295.4M $203.2M
YoY Change 45.37% 5.23%
Total Long-Term Assets $2.339B $2.221B
YoY Change 5.31% -4.53%
TOTAL ASSETS
Total Short-Term Assets $1.702B $1.579B
Total Long-Term Assets $2.339B $2.221B
Total Assets $4.041B $3.800B
YoY Change 6.36% 1.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $347.4M $331.2M
YoY Change 4.89% 5.08%
Accrued Expenses $395.6M $397.7M
YoY Change -0.53% 6.45%
Deferred Revenue
YoY Change
Short-Term Debt $148.0M $209.6M
YoY Change -29.39% 162.33%
Long-Term Debt Due $1.400M $1.100M
YoY Change 27.27% -8.33%
Total Short-Term Liabilities $892.4M $939.6M
YoY Change -5.02% 5.23%
LONG-TERM LIABILITIES
Long-Term Debt $14.00M $7.000M
YoY Change 100.0% 16.67%
Other Long-Term Liabilities $244.4M $172.7M
YoY Change 41.52% 1.23%
Total Long-Term Liabilities $1.212B $1.178B
YoY Change 2.87% -8.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $892.4M $939.6M
Total Long-Term Liabilities $1.212B $1.178B
Total Liabilities $2.104B $2.117B
YoY Change -0.63% -3.08%
SHAREHOLDERS EQUITY
Retained Earnings $2.219B $1.959B
YoY Change 13.24% 6.28%
Common Stock $87.90M $87.60M
YoY Change 0.34% -0.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.935B $1.680B
YoY Change
Total Liabilities & Shareholders Equity $4.041B $3.800B
YoY Change 6.36% 1.85%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $66.80M $69.70M
YoY Change -4.16% 45.82%
Depreciation, Depletion And Amortization $20.50M $21.00M
YoY Change -2.38% 9.38%
Cash From Operating Activities $60.60M $76.70M
YoY Change -20.99% 17.1%
INVESTING ACTIVITIES
Capital Expenditures -$16.60M -$17.60M
YoY Change -5.68% 6.02%
Acquisitions
YoY Change
Other Investing Activities -$86.90M $400.0K
YoY Change -21825.0% -81.82%
Cash From Investing Activities -$103.5M -$17.20M
YoY Change 501.74% 19.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 21.40M -31.80M
YoY Change -167.3% -38.37%
NET CHANGE
Cash From Operating Activities 60.60M 76.70M
Cash From Investing Activities -103.5M -17.20M
Cash From Financing Activities 21.40M -31.80M
Net Change In Cash -21.50M 27.70M
YoY Change -177.62% -5640.0%
FREE CASH FLOW
Cash From Operating Activities $60.60M $76.70M
Capital Expenditures -$16.60M -$17.60M
Free Cash Flow $77.20M $94.30M
YoY Change -18.13% 14.86%

Facts In Submission

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us-gaap Basis Of Accounting
BasisOfAccounting
<div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Presentation</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 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="#sF9A691510F805AB8B05D9643BBA03F60" 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 and assets, allowance for doubtful accounts and inventory valuation. Actual results could differ from these estimates. </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;">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.</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;">Certain prior year amounts have been reclassified to conform to the current year presentation.</span></div>
CY2019Q1 itt Rightof Use Asset
RightofUseAsset
80000000.0 USD
CY2019Q1 us-gaap Deferred Rent Credit
DeferredRentCredit
3400000 USD
CY2019Q1 itt Operatingand Finance Lease Liability
OperatingandFinanceLeaseLiability
83400000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="line-height:120%;padding-top:8px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Accounting Pronouncements Not Yet Adopted</span></div><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><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:18px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">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.</span></div>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2019Q2 us-gaap Revenues
Revenues
719900000 USD
CY2018Q2 us-gaap Revenues
Revenues
696800000 USD
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
86000000.0 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
80300000 USD
CY2019Q2 itt Operating Margin
OperatingMargin
0.119
CY2018Q2 itt Operating Margin
OperatingMargin
0.115
us-gaap Revenues
Revenues
1415400000 USD
us-gaap Revenues
Revenues
1386100000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
176600000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
190900000 USD
itt Operating Margin
OperatingMargin
0.125
itt Operating Margin
OperatingMargin
0.138
CY2019Q2 us-gaap Assets
Assets
4041400000 USD
CY2018Q4 us-gaap Assets
Assets
3846800000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
45800000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
46300000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
53000000.0 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
55200000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
719900000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1415400000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1386100000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
696800000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
28300000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
21800000 USD
itt Current Contract Assets Percentage Changefrom Prior Period
CurrentContractAssetsPercentageChangefromPriorPeriod
0.298
CY2019Q2 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
0 USD
CY2018Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
700000 USD
itt Noncurrent Contract Assets Percentage Changefrom Prior Period
NoncurrentContractAssetsPercentageChangefromPriorPeriod
-1.000
CY2019Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
55800000 USD
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
61000000.0 USD
itt Current Contract Liabilities Percentage Changefrom Prior Period
CurrentContractLiabilitiesPercentageChangefromPriorPeriod
-0.085
CY2019Q2 itt Net Contract Liabilities
NetContractLiabilities
27500000 USD
CY2018Q4 itt Net Contract Liabilities
NetContractLiabilities
38500000 USD
itt Net Contract Liability Percentage Changefrom Prior Period
NetContractLiabilityPercentageChangefromPriorPeriod
-0.286
CY2019Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10600000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
32400000 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19300000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8900000 USD
CY2019Q2 itt Income Tax Expense Increasefrom Prior Year Percent Change
IncomeTaxExpenseIncreasefromPriorYearPercentChange
1.169
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
39000000.0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16500000 USD
itt Income Tax Expense Increasefrom Prior Year Percent Change
IncomeTaxExpenseIncreasefromPriorYearPercentChange
1.364
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.223
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.113
CY2019Q2 itt Effective Tax Rate Increasefrom Prior Year Basis Point Change
EffectiveTaxRateIncreasefromPriorYearBasisPointChange
1100
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.220
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.088
itt Effective Tax Rate Increasefrom Prior Year Basis Point Change
EffectiveTaxRateIncreasefromPriorYearBasisPointChange
1320
itt Tax Expense Benefitfor Changein Deferred Tax Liabilityfor Unremitted Foreign Earnings
TaxExpenseBenefitforChangeinDeferredTaxLiabilityforUnremittedForeignEarnings
-11300000 USD
itt Changeto Provisional One Time Us Tax Expenseon Post1986 Foreign Earnings
ChangetoProvisionalOneTimeUSTaxExpenseonPost1986ForeignEarnings
4500000 USD
CY2019Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
14000000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87800000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87800000 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
900000 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
900000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
900000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
900000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88700000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88700000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
itt Numberof Roic Awards Excludedfrom Diluted Shares Outstanding
NumberofROICAwardsExcludedfromDilutedSharesOutstanding
100000 shares
CY2019Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
585000000.0 USD
CY2018Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
531700000 USD
CY2019Q2 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
6600000 USD
CY2018Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
3700000 USD
CY2019Q2 us-gaap Other Receivables
OtherReceivables
20500000 USD
CY2018Q4 us-gaap Other Receivables
OtherReceivables
22900000 USD
CY2019Q2 itt Receivables Gross Current
ReceivablesGrossCurrent
612100000 USD
CY2018Q4 itt Receivables Gross Current
ReceivablesGrossCurrent
558300000 USD
CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
12100000 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
18300000 USD
CY2019Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
600000000.0 USD
CY2018Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
540000000.0 USD
CY2019Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
68300000 USD
CY2018Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
64200000 USD
CY2019Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
103200000 USD
CY2018Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
83100000 USD
CY2019Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
249900000 USD
CY2018Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
233200000 USD
CY2019Q2 us-gaap Inventory Net
InventoryNet
421400000 USD
CY2018Q4 us-gaap Inventory Net
InventoryNet
380500000 USD
CY2018Q4 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
45.7 USD
CY2018Q4 itt Asbestos Related Current Assets
AsbestosRelatedCurrentAssets
67100000 USD
CY2019Q2 itt Asbestos Related Current Assets
AsbestosRelatedCurrentAssets
67100000 USD
CY2019Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
37900000 USD
CY2018Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
44500000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
28300000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
21800000 USD
CY2019Q2 us-gaap Prepaid Taxes
PrepaidTaxes
13500000 USD
CY2018Q4 us-gaap Prepaid Taxes
PrepaidTaxes
19600000 USD
CY2019Q2 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
2300000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
10400000 USD
CY2019Q2 us-gaap Other Assets Current
OtherAssetsCurrent
149100000 USD
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
163400000 USD
CY2019Q2 itt Other Employee Benefit Related Assets
OtherEmployeeBenefitRelatedAssets
109800000 USD
CY2018Q4 itt Other Employee Benefit Related Assets
OtherEmployeeBenefitRelatedAssets
104700000 USD
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
93600000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 USD
CY2019Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
32300000 USD
CY2018Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
35300000 USD
CY2019Q2 itt Estimated Environmental Related Assets
EstimatedEnvironmentalRelatedAssets
23600000 USD
CY2018Q4 itt Estimated Environmental Related Assets
EstimatedEnvironmentalRelatedAssets
23400000 USD
CY2019Q2 us-gaap Equity Method Investments
EquityMethodInvestments
8800000 USD
CY2018Q4 us-gaap Equity Method Investments
EquityMethodInvestments
7700000 USD
CY2019Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
27300000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
25700000 USD
CY2019Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
295400000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
196800000 USD
CY2019Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
1096600000 USD
CY2018Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
1056900000 USD
CY2018Q4 us-gaap Land
Land
27800000 USD
CY2019Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
284100000 USD
CY2018Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
265300000 USD
CY2019Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
81100000 USD
CY2018Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
69100000 USD
CY2019Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
65000000.0 USD
CY2018Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
67900000 USD
CY2019Q2 us-gaap Land
Land
29700000 USD
CY2019Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
10300000 USD
CY2018Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
10300000 USD
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1566800000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1497300000 USD
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1032700000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
978500000 USD
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
534100000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
518800000 USD
CY2019Q2 us-gaap Depreciation
Depreciation
20500000 USD
CY2018Q2 us-gaap Depreciation
Depreciation
21000000.0 USD
us-gaap Depreciation
Depreciation
40700000 USD
us-gaap Depreciation
Depreciation
41700000 USD
CY2018Q4 us-gaap Goodwill
Goodwill
875900000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
54600000 USD
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-500000 USD
CY2019Q2 us-gaap Goodwill
Goodwill
931000000.0 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
230600000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
129700000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
100900000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
230100000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
121200000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
108900000 USD
CY2019Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
27200000 USD
CY2019Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
27200000 USD
CY2018Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
27200000 USD
CY2018Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
27200000 USD
CY2019Q2 itt Finite And Infinite Lived Intangible Assets Gross
FiniteAndInfiniteLivedIntangibleAssetsGross
257800000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
129700000 USD
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
128100000 USD
CY2018Q4 itt Finite And Infinite Lived Intangible Assets Gross
FiniteAndInfiniteLivedIntangibleAssetsGross
257300000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
121200000 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
136100000 USD
CY2019Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4000000.0 USD
CY2018Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4300000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8000000.0 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8900000 USD
CY2019Q2 itt Contract Liabilitiesand Other Customer Related Liabilities
ContractLiabilitiesandOtherCustomerRelatedLiabilities
76600000 USD
CY2018Q4 itt Contract Liabilitiesand Other Customer Related Liabilities
ContractLiabilitiesandOtherCustomerRelatedLiabilities
82200000 USD
CY2019Q2 itt Asbestos Related Liability Current
AsbestosRelatedLiabilityCurrent
72600000 USD
CY2019Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
136300000 USD
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
152200000 USD
CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
0 USD
CY2019Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
16200000 USD
CY2018Q4 itt Asbestos Related Liability Current
AsbestosRelatedLiabilityCurrent
74200000 USD
CY2019Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
25700000 USD
CY2018Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
33700000 USD
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19300000 USD
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
16200000 USD
CY2019Q2 itt Accrued Environmental And Litigation Liabilities Current
AccruedEnvironmentalAndLitigationLiabilitiesCurrent
15000000.0 USD
CY2018Q4 itt Accrued Environmental And Litigation Liabilities Current
AccruedEnvironmentalAndLitigationLiabilitiesCurrent
24000000.0 USD
CY2019Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
33900000 USD
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
34200000 USD
CY2019Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
395600000 USD
CY2018Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
416700000 USD
CY2019Q2 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
56200000 USD
CY2018Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
59500000 USD
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
78500000 USD
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 USD
CY2019Q2 itt Compensation And Other Employee Related Liabilities Noncurrent
CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
35100000 USD
CY2018Q4 itt Compensation And Other Employee Related Liabilities Noncurrent
CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
34200000 USD
CY2019Q2 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
23800000 USD
CY2018Q4 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
25000000.0 USD
CY2019Q2 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
50800000 USD
CY2018Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
47800000 USD
CY2019Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
244400000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
166500000 USD
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6700000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
12300000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
11600000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
19500000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
15300000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
12600000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
10000000.0 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
60700000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
129700000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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7200000 USD
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3600000 USD
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7100000 USD
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500000 USD
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1100000 USD
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2200000 USD
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700000 USD
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Sharebasedcompensationcostsliabilitybasedawards
700000 USD
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Sharebasedcompensationcostsliabilitybasedawards
1400000 USD
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Sharebasedcompensationcostsliabilitybasedawards
800000 USD
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4600000 USD
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9500000 USD
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5400000 USD
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131000000.0 USD
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5300000 USD
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AsbestosRelatedCostsBenefitSettlementAgreement
0 USD
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7900000 USD
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23600000 USD
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23300000 USD
us-gaap Litigation Settlement Amount Awarded To Other Party
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11000000 USD

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