$ITT
ITT INC.

2021 Q1 Form 10-Q Financial Statement

#000021622821000012 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $698.4M $663.3M
YoY Change 5.29% -4.63%
Cost Of Revenue $469.4M $453.9M
YoY Change 3.41% -4.78%
Gross Profit $229.0M $209.4M
YoY Change 9.36% -4.3%
Gross Profit Margin 32.79% 31.57%
Selling, General & Admin $88.80M $98.70M
YoY Change -10.03% 7.17%
% of Gross Profit 38.78% 47.13%
Research & Development $24.30M $22.70M
YoY Change 7.05% -3.4%
% of Gross Profit 10.61% 10.84%
Depreciation & Amortization $28.50M $27.40M
YoY Change 4.01% 3.79%
% of Gross Profit 12.45% 13.09%
Operating Expenses $113.1M $121.4M
YoY Change -6.84% 5.02%
Operating Profit $109.9M $109.3M
YoY Change 0.55% 20.64%
Interest Expense $1.300M -$600.0K
YoY Change -316.67% -220.0%
% of Operating Profit 1.18% -0.55%
Other Income/Expense, Net $1.300M -$600.0K
YoY Change -316.67% -220.0%
Pretax Income $111.2M $108.7M
YoY Change 2.3% 19.32%
Income Tax $24.70M $24.70M
% Of Pretax Income 22.21% 22.72%
Net Earnings $86.20M $84.80M
YoY Change 1.65% 18.93%
Net Earnings / Revenue 12.34% 12.78%
Basic Earnings Per Share $1.00 $0.97
Diluted Earnings Per Share $0.99 $0.96
COMMON SHARES
Basic Shares Outstanding 86.30M shares 87.40M shares
Diluted Shares Outstanding 86.90M shares 88.20M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $780.0M $840.0M
YoY Change -7.14% 51.62%
Cash & Equivalents $780.2M $839.9M
Short-Term Investments
Other Short-Term Assets $190.8M $152.0M
YoY Change 25.53% 4.11%
Inventory $374.7M $382.4M
Prepaid Expenses
Receivables $535.0M $562.0M
Other Receivables $29.00M $28.00M
Total Short-Term Assets $1.892B $1.948B
YoY Change -2.88% 16.04%
LONG-TERM ASSETS
Property, Plant & Equipment $501.2M $511.5M
YoY Change -2.01% -0.33%
Goodwill $933.4M $914.4M
YoY Change 2.08% 4.8%
Intangibles $100.3M $119.7M
YoY Change -16.21% -9.11%
Long-Term Investments $11.80M $10.10M
YoY Change 16.83% 23.17%
Other Assets $265.7M $304.4M
YoY Change -12.71% 10.05%
Total Long-Term Assets $2.288B $2.328B
YoY Change -1.75% 3.11%
TOTAL ASSETS
Total Short-Term Assets $1.892B $1.948B
Total Long-Term Assets $2.288B $2.328B
Total Assets $4.180B $4.277B
YoY Change -2.27% 8.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $327.0M $323.9M
YoY Change 0.96% -5.95%
Accrued Expenses $438.3M $396.3M
YoY Change 10.6% -1.34%
Deferred Revenue $48.00M
YoY Change
Short-Term Debt $0.00 $384.5M
YoY Change -100.0% 243.3%
Long-Term Debt Due $2.400M $2.300M
YoY Change 4.35% 9.52%
Total Short-Term Liabilities $826.5M $1.107B
YoY Change -25.34% 28.65%
LONG-TERM LIABILITIES
Long-Term Debt $13.00M $13.00M
YoY Change 0.0% -13.33%
Other Long-Term Liabilities $204.2M $223.6M
YoY Change -8.68% -2.02%
Total Long-Term Liabilities $1.245B $1.154B
YoY Change 7.91% -4.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $826.5M $1.107B
Total Long-Term Liabilities $1.245B $1.154B
Total Liabilities $2.072B $2.261B
YoY Change -8.37% 9.45%
SHAREHOLDERS EQUITY
Retained Earnings $2.329B $2.362B
YoY Change -1.37% 9.44%
Common Stock $86.10M $86.30M
YoY Change -0.23% -1.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.106B $2.012B
YoY Change
Total Liabilities & Shareholders Equity $4.180B $4.277B
YoY Change -2.27% 8.62%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $86.20M $84.80M
YoY Change 1.65% 18.93%
Depreciation, Depletion And Amortization $28.50M $27.40M
YoY Change 4.01% 3.79%
Cash From Operating Activities $70.70M $53.70M
YoY Change 31.66% 28.78%
INVESTING ACTIVITIES
Capital Expenditures -$17.20M -$22.20M
YoY Change -22.52% -23.97%
Acquisitions $0.00 $4.700M
YoY Change -100.0%
Other Investing Activities -$100.0K -$700.0K
YoY Change -85.71% 75.0%
Cash From Investing Activities -$17.10M -$26.20M
YoY Change -34.73% -9.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $60.80M $83.30M
YoY Change -27.01% 462.84%
Debt Paid & Issued, Net $100.0K $0.00
YoY Change -100.0%
Cash From Financing Activities -$122.8M $212.0M
YoY Change -157.92% -1109.52%
NET CHANGE
Cash From Operating Activities 70.70M 53.70M
Cash From Investing Activities -$17.10M -$26.20M
Cash From Financing Activities -$122.8M $212.0M
Net Change In Cash -$79.60M $227.8M
YoY Change -134.94% -3178.38%
FREE CASH FLOW
Cash From Operating Activities $70.70M $53.70M
Capital Expenditures -$17.20M -$22.20M
Free Cash Flow $87.90M $75.90M
YoY Change 15.81% 7.05%

Facts In Submission

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CY2021Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2329400000 USD
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2319300000 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-309400000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-279400000 USD
CY2020Q4 us-gaap Stockholders Equity
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2126400000 USD
CY2021Q1 us-gaap Minority Interest
MinorityInterest
1800000 USD
CY2020Q4 us-gaap Minority Interest
MinorityInterest
1500000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2107900000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2127900000 USD
CY2021Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4179700000 USD
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4277600000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
86200000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
83700000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
28500000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27400000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3300000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2500000 USD
CY2021Q1 itt Asbestos Related Costs Net
AsbestosRelatedCostsNet
2400000 USD
CY2020Q1 itt Asbestos Related Costs Net
AsbestosRelatedCostsNet
-40700000 USD
CY2021Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2020Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
16300000 USD
CY2021Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-6300000 USD
CY2020Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-11000000.0 USD
CY2021Q1 itt Asbestos Related Payments
AsbestosRelatedPayments
1600000 USD
CY2020Q1 itt Asbestos Related Payments
AsbestosRelatedPayments
6100000 USD
CY2021Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
50100000 USD
CY2020Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
13400000 USD
CY2021Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
21200000 USD
CY2020Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-600000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
36600000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-6400000 USD
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-14500000 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-25200000 USD
CY2021Q1 itt Increase Decreasein Accruedand Deferred Income Taxes
IncreaseDecreaseinAccruedandDeferredIncomeTaxes
10400000 USD
CY2020Q1 itt Increase Decreasein Accruedand Deferred Income Taxes
IncreaseDecreaseinAccruedandDeferredIncomeTaxes
16500000 USD
CY2021Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
15500000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
12700000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
70800000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
53500000 USD
CY2021Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
17200000 USD
CY2020Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
22200000 USD
CY2021Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4700000 USD
CY2021Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-100000 USD
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-700000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
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-17100000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26200000 USD
CY2021Q1 us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
-42600000 USD
CY2020Q1 us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
-82700000 USD
CY2021Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
0 USD
CY2020Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
378300000 USD
CY2021Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
100000 USD
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
61000000.0 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
83400000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
200000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
100000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19100000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
200000 USD
CY2021Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-200000 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-100000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-122800000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
212000000.0 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-10400000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-11700000 USD
CY2021Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-100000 USD
CY2020Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
200000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-79600000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
227800000 USD
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
800000 USD
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
800000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
860600000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
612900000 USD
CY2021Q1 us-gaap Restricted Cash
RestrictedCash
800000 USD
CY2020Q1 us-gaap Restricted Cash
RestrictedCash
800000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
781000000.0 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
840700000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
200000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
2300000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
13400000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8000000.0 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2127900000 USD
CY2021Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
86500000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3500000 USD
CY2021Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
61000000.0 USD
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.22
CY2021Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
19000000.0 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-30000000.0 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2107900000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2077800000 USD
CY2020Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
85100000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2600000 USD
CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
83400000 USD
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.169
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
14900000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-50400000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2015600000 USD
CY2021Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="margin-top:6pt;text-align:justify;text-indent:11.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 state fairly the financial position, results of operations, and cash flows for the periods presented. The Consolidated Condensed Balance Sheet as of December 31, 2020, presented herein, has been derived from our audited balance sheet included in our Annual Report on Form 10-K (</span><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/216228/000021622821000005/itt-20201231.htm" style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">2020 Annual Report</a></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) for the year ended December 31, 2020 but does not include all disclosures required by GAAP. We consistently applied the accounting policies described in the 2020 Annual Report in preparing these unaudited financial statements. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2020 Annual Report.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:11.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 and may be impacted by the duration and severity of the pandemic. 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 credit losses and inventory valuation. Actual results could differ from these estimates. In the third quarter of 2020 we extended the measurement period over which we estimate our asbestos liability to include unasserted claims through 2052, which is the full time period over which we currently expect claims to be filed against us. Refer to Note 19, </span><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i9d97a733905d4fe7acd767ba0f5ba298_121" style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Commitments and Contingencies</a></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, for further information. </span></div><div style="margin-top:6pt;text-align:justify;text-indent:11.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="margin-top:6pt;text-align:justify;text-indent:11.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior year amounts have been reclassified to conform to the current year presentation.</span></div>
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2021Q1 us-gaap Revenues
Revenues
698400000 USD
CY2020Q1 us-gaap Revenues
Revenues
663300000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
109900000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
109300000 USD
CY2021Q1 itt Operating Margin
OperatingMargin
0.157
CY2020Q1 itt Operating Margin
OperatingMargin
0.165
CY2021Q1 us-gaap Assets
Assets
4179700000 USD
CY2020Q4 us-gaap Assets
Assets
4277600000 USD
CY2021Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
17200000 USD
CY2020Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
22200000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
28500000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27400000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
698400000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
663300000 USD
CY2021Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
17900000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
19100000 USD
CY2021Q1 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
300000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
0 USD
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
48000000.0 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
56200000 USD
CY2021Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
4500000 USD
CY2020Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
100000 USD
CY2021Q1 itt Net Contract Liabilities
NetContractLiabilities
34300000 USD
CY2020Q4 itt Net Contract Liabilities
NetContractLiabilities
37200000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21900000 USD
CY2021Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
799300000 USD
CY2021Q1 us-gaap Severance Costs1
SeveranceCosts1
2400000 USD
CY2020Q1 us-gaap Severance Costs1
SeveranceCosts1
3100000 USD
CY2021Q1 itt Restructuring And Related Cost Asset Impairment Cost
RestructuringAndRelatedCostAssetImpairmentCost
600000 USD
CY2020Q1 itt Restructuring And Related Cost Asset Impairment Cost
RestructuringAndRelatedCostAssetImpairmentCost
0 USD
CY2021Q1 us-gaap Other Restructuring Costs
OtherRestructuringCosts
600000 USD
CY2020Q1 us-gaap Other Restructuring Costs
OtherRestructuringCosts
0 USD
CY2021Q1 us-gaap Restructuring Charges
RestructuringCharges
3600000 USD
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
3100000 USD
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
19100000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
7500000 USD
CY2021Q1 us-gaap Restructuring Costs
RestructuringCosts
4000000.0 USD
CY2020Q1 us-gaap Restructuring Costs
RestructuringCosts
3100000 USD
CY2021Q1 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-400000 USD
CY2020Q1 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
0 USD
CY2021Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
4800000 USD
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
3200000 USD
CY2021Q1 itt Restructuring And Related Cost Asset Impairment Cost
RestructuringAndRelatedCostAssetImpairmentCost
600000 USD
CY2020Q1 itt Restructuring And Related Cost Asset Impairment Cost
RestructuringAndRelatedCostAssetImpairmentCost
0 USD
CY2021Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
400000 USD
CY2020Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
200000 USD
CY2021Q1 us-gaap Restructuring Reserve
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16900000 USD
CY2020Q1 us-gaap Restructuring Reserve
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7200000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24700000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24700000 USD
CY2021Q1 itt Income Tax Expense Increasefrom Prior Year Percent Change
IncomeTaxExpenseIncreasefromPriorYearPercentChange
0
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2021Q1 itt Change In Effective Income Tax Rate Basis Points Change
ChangeInEffectiveIncomeTaxRateBasisPointsChange
-0.0050
CY2021Q1 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
3900000 USD
CY2021Q1 itt American Rescue Plan Act Amount
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1900000000000 USD
CY2021Q1 itt Payroll Tax Benefit From Cares Act
PayrollTaxBenefitFromCARESAct
2400000 USD
CY2021Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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17000000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86300000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87400000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
800000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86900000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88200000 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2021Q1 us-gaap Accounts Receivable Gross Current
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532100000 USD
CY2020Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
492500000 USD
CY2021Q1 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
12300000 USD
CY2020Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
11000000.0 USD
CY2021Q1 us-gaap Other Receivables
OtherReceivables
16600000 USD
CY2020Q4 us-gaap Other Receivables
OtherReceivables
19100000 USD
CY2021Q1 itt Receivables Gross Current
ReceivablesGrossCurrent
561000000.0 USD
CY2020Q4 itt Receivables Gross Current
ReceivablesGrossCurrent
522600000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
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14700000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
15100000 USD
CY2021Q1 us-gaap Receivables Net Current
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546300000 USD
CY2020Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
507500000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14700000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
15100000 USD
CY2021Q1 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss
ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss
500000 USD
CY2020Q4 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss
ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss
500000 USD
CY2021Q1 itt Total Allowancefor Credit Losses
TotalAllowanceforCreditLosses
15200000 USD
CY2020Q4 itt Total Allowancefor Credit Losses
TotalAllowanceforCreditLosses
15600000 USD
CY2020Q4 itt Total Allowancefor Credit Losses
TotalAllowanceforCreditLosses
15600000 USD
CY2019Q4 itt Total Allowancefor Credit Losses
TotalAllowanceforCreditLosses
12800000 USD
CY2021Q1 itt Impactof Adoptionof Asu201613
ImpactofAdoptionofASU201613
0 USD
CY2020Q1 itt Impactof Adoptionof Asu201613
ImpactofAdoptionofASU201613
1700000 USD
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-200000 USD
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3300000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
100000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1700000 USD
CY2021Q1 itt Allowancefor Credit Loss Foreign Currencyand Other
AllowanceforCreditLossForeignCurrencyandOther
-100000 USD
CY2020Q1 itt Allowancefor Credit Loss Foreign Currencyand Other
AllowanceforCreditLossForeignCurrencyandOther
-300000 USD
CY2021Q1 itt Total Allowancefor Credit Losses
TotalAllowanceforCreditLosses
15200000 USD
CY2020Q1 itt Total Allowancefor Credit Losses
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Land
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PropertyPlantAndEquipmentOther
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CY2020Q1 us-gaap Depreciation
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CY2021Q1 us-gaap Goodwill
Goodwill
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IndefiniteLivedIntangibleAssetsExcludingGoodwill
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ContractLiabilitiesandOtherCustomerRelatedLiabilities
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ContractLiabilitiesandOtherCustomerRelatedLiabilities
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DebtAndCapitalLeaseObligations
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2900000 USD
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
900000 USD
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Sharebasedcompensationcostsliabilitybasedawards
800000 USD
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Sharebasedcompensationcostsliabilitybasedawards
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4100000 USD
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SharebasedcompensationcostsTotal
1900000 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
200000 USD
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100000 USD
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100000 shares
CY2020Q1 itt Number Of Shares Repurchased Under Settlement Of Employee Tax Withholding Obligations
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200000 shares
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10200000 USD
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55900000 USD
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OtherComprehensiveIncomeLossNetOfTax
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-303300000 USD
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AsbestosRelatedCostsBenefitProvisiontoMaintain10YearForecastPeriod
2400000 USD
CY2020Q1 itt Asbestos Related Costs Benefit Provisionto Maintain10 Year Forecast Period
AsbestosRelatedCostsBenefitProvisiontoMaintain10YearForecastPeriod
11800000 USD
CY2021Q1 itt Asbestos Related Costs Benefit Settlement Agreement
AsbestosRelatedCostsBenefitSettlementAgreement
0 USD
CY2020Q1 itt Asbestos Related Costs Benefit Settlement Agreement
AsbestosRelatedCostsBenefitSettlementAgreement
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1600000 USD
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56100000 USD
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AccrualForEnvironmentalLossContingencies
58500000 USD
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16500000 USD
CY2020Q1 itt Estimated Environmental Related Assets
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22200000 USD

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