2024 Q2 Form 10-Q Financial Statement

#000021622824000033 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q2
Revenue $905.9M $910.6M $797.9M
YoY Change 13.54% 9.87%
Cost Of Revenue $589.8M $609.8M $536.0M
YoY Change 10.04% 5.55%
Gross Profit $316.1M $300.8M $261.9M
YoY Change 20.69% 19.92%
Gross Profit Margin 34.89% 33.03% 32.82%
Selling, General & Admin $127.4M $121.6M $111.2M
YoY Change 14.57% 12.55%
% of Gross Profit 40.3% 40.43% 42.46%
Research & Development $29.70M $30.00M $26.40M
YoY Change 12.5% 5.6%
% of Gross Profit 9.4% 9.97% 10.08%
Depreciation & Amortization $22.00M $33.60M $26.70M
YoY Change -17.6% -2.2%
% of Gross Profit 6.96% 11.17% 10.19%
Operating Expenses $157.1M $151.6M $137.6M
YoY Change 14.17% 11.15%
Operating Profit $159.0M $149.2M $124.3M
YoY Change 27.92% 31.4%
Interest Expense $7.400M -$5.900M -$3.500M
YoY Change -311.43% -1850.0%
% of Operating Profit 4.65% -3.95% -2.82%
Other Income/Expense, Net $200.0K -$4.400M -$3.500M
YoY Change -105.71% -1850.0%
Pretax Income $153.4M $144.8M $120.8M
YoY Change 26.99% 27.43%
Income Tax $33.00M $32.80M $20.10M
% Of Pretax Income 21.51% 22.65% 16.64%
Net Earnings $119.2M $111.0M $100.0M
YoY Change 19.2% 33.69%
Net Earnings / Revenue 13.16% 12.19% 12.53%
Basic Earnings Per Share $1.21
Diluted Earnings Per Share $1.45 $1.34 $1.20
COMMON SHARES
Basic Shares Outstanding 82.30M shares 82.10M shares 82.60M shares
Diluted Shares Outstanding 82.40M shares 82.70M shares 83.00M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $425.5M $423.0M $462.0M
YoY Change -7.9% -34.97%
Cash & Equivalents $425.5M $423.0M $462.0M
Short-Term Investments
Other Short-Term Assets $137.3M $123.3M $98.80M
YoY Change 38.97% -3.8%
Inventory $564.3M $609.4M $567.6M
Prepaid Expenses
Receivables $706.3M $748.6M $664.4M
Other Receivables $0.00 $43.80M $33.20M
Total Short-Term Assets $1.926B $1.908B $1.798B
YoY Change 7.1% -5.58%
LONG-TERM ASSETS
Property, Plant & Equipment $543.8M $568.1M $528.0M
YoY Change 2.99% 4.58%
Goodwill $1.201B $1.208B $968.1M
YoY Change 24.05% 5.4%
Intangibles $296.9M $332.2M $107.5M
YoY Change 176.19% 32.88%
Long-Term Investments $47.40M $47.80M $43.60M
YoY Change 8.72% 186.84%
Other Assets $382.8M $388.0M $365.9M
YoY Change 4.62% 15.5%
Total Long-Term Assets $2.484B $2.496B $1.970B
YoY Change 26.14% 8.15%
TOTAL ASSETS
Total Short-Term Assets $1.926B $1.908B $1.798B
Total Long-Term Assets $2.484B $2.496B $1.970B
Total Assets $4.410B $4.404B $3.768B
YoY Change 17.05% 1.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $430.9M $459.2M $397.3M
YoY Change 8.46% -3.33%
Accrued Expenses $423.6M $415.1M $340.0M
YoY Change 24.59% -1.25%
Deferred Revenue $137.1M $126.6M $73.70M
YoY Change 86.02% 25.34%
Short-Term Debt $700.0K $800.0K $500.0K
YoY Change 40.0% -99.9%
Long-Term Debt Due $2.200M $2.300M $2.200M
YoY Change 0.0% 4.76%
Total Short-Term Liabilities $1.241B $1.197B $1.121B
YoY Change 10.7% -9.73%
LONG-TERM LIABILITIES
Long-Term Debt $190.0M $230.5M $7.900M
YoY Change 2305.06% -17.71%
Other Long-Term Liabilities $252.4M $254.1M $199.6M
YoY Change 26.45% 1.47%
Total Long-Term Liabilities $579.7M $620.5M $337.2M
YoY Change 71.92% -14.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.241B $1.197B $1.121B
Total Long-Term Liabilities $579.7M $620.5M $337.2M
Total Liabilities $1.821B $1.818B $1.459B
YoY Change 24.85% -10.81%
SHAREHOLDERS EQUITY
Retained Earnings $2.878B $2.857B $2.555B
YoY Change 12.64% 9.43%
Common Stock $81.70M $82.30M $82.40M
YoY Change -0.85% -1.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.577B $2.575B $2.299B
YoY Change
Total Liabilities & Shareholders Equity $4.410B $4.404B $3.768B
YoY Change 17.05% 1.13%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q2
OPERATING ACTIVITIES
Net Income $119.2M $111.0M $100.0M
YoY Change 19.2% 33.69%
Depreciation, Depletion And Amortization $22.00M $33.60M $26.70M
YoY Change -17.6% -2.2%
Cash From Operating Activities $142.8M $57.70M $58.00M
YoY Change 146.21% -2171.43%
INVESTING ACTIVITIES
Capital Expenditures $23.20M $27.70M $28.70M
YoY Change -19.16% -195.67%
Acquisitions $407.6M $0.00
YoY Change
Other Investing Activities -$2.100M $0.00 -$200.0K
YoY Change 950.0% -66.67%
Cash From Investing Activities -$25.30M -$435.3M -$28.50M
YoY Change -11.23% -3.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $30.00M
YoY Change -81.7%
Debt Paid & Issued, Net $70.50M $0.00
YoY Change
Cash From Financing Activities -109.6M $323.4M -$132.9M
YoY Change -17.53% -237.58%
NET CHANGE
Cash From Operating Activities 142.8M 57.70M 58.00M
Cash From Investing Activities -25.30M -$435.3M -$28.50M
Cash From Financing Activities -109.6M $323.4M -$132.9M
Net Change In Cash 7.900M -$66.20M -$99.10M
YoY Change -107.97% -257.55%
FREE CASH FLOW
Cash From Operating Activities $142.8M $57.70M $58.00M
Capital Expenditures $23.20M $27.70M $28.70M
Free Cash Flow $119.6M $30.00M $29.30M
YoY Change 308.19% 7.72%

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57800000 usd
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58100000 usd
CY2024Q1 us-gaap Payments To Acquire Productive Assets
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CY2023Q2 us-gaap Payments To Acquire Productive Assets
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CY2024Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2023Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2023Q2 us-gaap Payments For Proceeds From Other Investing Activities
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CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q2 us-gaap Net Cash Provided By Used In Investing Activities
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CY2024Q1 us-gaap Proceeds From Repayments Of Commercial Paper
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CY2024Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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12500000 usd
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CY2024Q1 us-gaap Payments Of Dividends Common Stock
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26500000 usd
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CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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4300000 usd
CY2024Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Restricted Cash
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CY2022Q4 us-gaap Restricted Cash
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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489900000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
561900000 usd
CY2024Q1 us-gaap Restricted Cash
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CY2023Q2 us-gaap Restricted Cash
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q2 us-gaap Interest Paid Net
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CY2024Q1 us-gaap Income Taxes Paid Net
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CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2024Q1 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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CY2024Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2024Q1 us-gaap Dividends Common Stock Cash
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CY2024Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2024Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2024Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2586200000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2257400000 usd
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NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
100700000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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5100000 usd
CY2023Q2 us-gaap Stock Repurchased During Period Value
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30000000.0 usd
CY2023Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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6300000 usd
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
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0.29
CY2023Q2 us-gaap Dividends Common Stock Cash
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CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2309200000 usd
CY2024Q1 us-gaap Basis Of Accounting
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<div style="margin-top:9pt"><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:13.5pt"><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, 2023, 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/0000216228/000021622824000020/itt-20231231.htm" style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">2023 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, 2023, but does not include all disclosures required by accounting principles generally accepted in the United States (GAAP). We consistently applied the accounting policies described in the 2023 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 2023 Annual Report.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:13.5pt"><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. Estimates and assumptions are used for, but not limited to, 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.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:13.5pt"><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 31</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">st</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. ITT’s first quarter for 2024 and 2023 ended on March 30, 2024 and April 1, 2023, respectively.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:13.5pt"><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>
CY2024Q1 us-gaap Number Of Reportable Segments
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InterestAndNonOperatingExpenseNet
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CY2024Q1 us-gaap Assets
Assets
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Assets
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Contract With Customer Asset Net Noncurrent
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CY2024Q1 itt Net Contract Liabilities
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CY2023Q4 itt Net Contract Liabilities
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CY2024Q1 us-gaap Income Tax Expense Benefit
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CY2023Q2 us-gaap Income Tax Expense Benefit
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CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2023Q4 itt Total Allowancefor Credit Losses
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CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2024Q1 itt Allowancefor Credit Loss Foreign Currencyand Other
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CY2023Q2 itt Allowancefor Credit Loss Foreign Currencyand Other
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CY2024Q1 itt Total Allowancefor Credit Losses
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CY2023Q2 itt Total Allowancefor Credit Losses
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CY2024Q1 us-gaap Inventory Raw Materials And Supplies
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CY2024Q1 us-gaap Inventory Work In Process
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CY2024Q1 us-gaap Inventory Finished Goods
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CY2023Q4 us-gaap Inventory Finished Goods
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97000000.0 usd
CY2024Q1 us-gaap Inventory Net
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CY2023Q4 us-gaap Inventory Net
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575400000 usd
CY2023Q2 itt Italian Government Energy Subsidy Grant
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CY2024Q1 us-gaap Other Prepaid Expense Current
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CY2023Q4 us-gaap Other Prepaid Expense Current
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CY2024Q1 us-gaap Contract With Customer Asset Net Current
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CY2024Q1 us-gaap Prepaid Taxes
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CY2023Q4 us-gaap Prepaid Taxes
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CY2024Q1 us-gaap Other Assets Miscellaneous Current
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CY2024Q1 us-gaap Other Assets Current
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CY2023Q4 us-gaap Other Assets Current
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CY2024Q1 itt Other Employee Benefit Related Assets
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CY2023Q4 itt Other Employee Benefit Related Assets
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CY2024Q1 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
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CY2024Q1 us-gaap Deferred Income Tax Assets Net
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CY2023Q4 us-gaap Deferred Income Tax Assets Net
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CY2024Q1 us-gaap Equity Method Investments
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47800000 usd
CY2023Q4 us-gaap Equity Method Investments
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46600000 usd
CY2024Q1 us-gaap Capitalized Computer Software Net
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CY2023Q4 us-gaap Capitalized Computer Software Net
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7900000 usd
CY2024Q1 itt Estimated Environmental Related Assets Noncurrent
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7800000 usd
CY2023Q4 itt Estimated Environmental Related Assets Noncurrent
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6000000.0 usd
CY2024Q1 us-gaap Other Assets Miscellaneous Noncurrent
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27300000 usd
CY2023Q4 us-gaap Other Assets Miscellaneous Noncurrent
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28500000 usd
CY2024Q1 us-gaap Other Assets Noncurrent
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388000000.0 usd
CY2023Q4 us-gaap Other Assets Noncurrent
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381000000.0 usd
CY2024Q1 us-gaap Machinery And Equipment Gross
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CY2023Q4 us-gaap Machinery And Equipment Gross
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CY2024Q1 us-gaap Buildings And Improvements Gross
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318400000 usd
CY2023Q4 us-gaap Buildings And Improvements Gross
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298400000 usd
CY2024Q1 us-gaap Furniture And Fixtures Gross
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81200000 usd
CY2023Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
83700000 usd
CY2024Q1 us-gaap Construction In Progress Gross
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74400000 usd
CY2023Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
78100000 usd
CY2024Q1 us-gaap Land
Land
29900000 usd
CY2023Q4 us-gaap Land
Land
29500000 usd
CY2024Q1 us-gaap Property Plant And Equipment Other
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1900000 usd
CY2023Q4 us-gaap Property Plant And Equipment Other
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CY2024Q1 us-gaap Property Plant And Equipment Gross
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1831100000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
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1809300000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1263000000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1248300000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
568100000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
561000000.0 usd
CY2024Q1 us-gaap Depreciation
Depreciation
22300000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
20700000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
1016300000 usd
CY2024Q1 us-gaap Goodwill Acquired During Period
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201900000 usd
CY2024Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
10500000 usd
CY2024Q1 us-gaap Goodwill
Goodwill
1207700000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
481700000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
197400000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
284300000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
285900000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
188400000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
97500000 usd
CY2024Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
47900000 usd
CY2024Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
47900000 usd
CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
19100000 usd
CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
19100000 usd
CY2024Q1 itt Finite And Infinite Lived Intangible Assets Gross
FiniteAndInfiniteLivedIntangibleAssetsGross
529600000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
197400000 usd
CY2024Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
332200000 usd
CY2023Q4 itt Finite And Infinite Lived Intangible Assets Gross
FiniteAndInfiniteLivedIntangibleAssetsGross
305000000.0 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
188400000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
116600000 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9600000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4700000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
32300000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
28000000.0 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
23300000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
21200000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
21200000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
158300000 usd
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
118100000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
165500000 usd
CY2024Q1 itt Contract Liabilitiesand Other Customer Related Liabilities
ContractLiabilitiesandOtherCustomerRelatedLiabilities
165300000 usd
CY2023Q4 itt Contract Liabilitiesand Other Customer Related Liabilities
ContractLiabilitiesandOtherCustomerRelatedLiabilities
133600000 usd
CY2024Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
44700000 usd
CY2023Q4 us-gaap Accrued Income Taxes Current
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30700000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19500000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
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19500000 usd
CY2024Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
15300000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
14000000.0 usd
CY2024Q1 itt Accrued Environmental And Litigation Liabilities Current
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5600000 usd
CY2023Q4 itt Accrued Environmental And Litigation Liabilities Current
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5800000 usd
CY2024Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
3500000 usd
CY2023Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
4800000 usd
CY2023Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
4800000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
43100000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
39200000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
415100000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
413100000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
75200000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
72300000 usd
CY2024Q1 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
50200000 usd
CY2023Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
52000000.0 usd
CY2024Q1 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
62800000 usd
CY2023Q4 us-gaap Deferred Income Taxes And Other Tax Liabilities Noncurrent
DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent
25000000.0 usd
CY2024Q1 itt Compensation And Other Employee Related Liabilities Noncurrent
CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
38200000 usd
CY2023Q4 itt Compensation And Other Employee Related Liabilities Noncurrent
CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
38000000.0 usd
CY2023Q4 itt Compensation And Other Employee Related Liabilities Noncurrent
CompensationAndOtherEmployeeRelatedLiabilitiesNoncurrent
38000000.0 usd
CY2024Q1 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
27700000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
24000000.0 usd
CY2024Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
254100000 usd
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
211300000 usd
CY2024Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
19000000.0 usd
CY2023Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
19700000 usd
CY2024Q1 us-gaap Commercial Paper
CommercialPaper
319600000 usd
CY2023Q4 us-gaap Commercial Paper
CommercialPaper
184900000 usd
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
2300000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2300000 usd
CY2024Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
800000 usd
CY2023Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
500000 usd
CY2024Q1 us-gaap Debt Current
DebtCurrent
322700000 usd
CY2023Q4 us-gaap Debt Current
DebtCurrent
187700000 usd
CY2024Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
230500000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
5700000 usd
CY2024Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
553200000 usd
CY2023Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
193400000 usd
CY2024Q1 itt Lineof Credit Facility Interest Margin Above Libor
LineofCreditFacilityInterestMarginAboveLIBOR
0.011
CY2024Q1 itt Term Loan Facility Interest Margin Above Euribor
TermLoanFacilityInterestMarginAboveEURIBOR
0.0100
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7700000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5500000 usd
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
200000 usd
CY2023Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
400000 usd
CY2024Q1 itt Shares Repurchased Aggregate Value Under Settlement Of Employee Tax Withholding Obligations
SharesRepurchasedAggregateValueUnderSettlementOfEmployeeTaxWithholdingObligations
12500000 usd
CY2023Q2 itt Shares Repurchased Aggregate Value Under Settlement Of Employee Tax Withholding Obligations
SharesRepurchasedAggregateValueUnderSettlementOfEmployeeTaxWithholdingObligations
6300000 usd
CY2023Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
56000000.0 usd
CY2022Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
57100000 usd
CY2024Q1 us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
1900000 usd
CY2023Q2 us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
2000000.0 usd
CY2024Q1 itt Foreignexchangetranslation
Foreignexchangetranslation
0 usd
CY2023Q2 itt Foreignexchangetranslation
Foreignexchangetranslation
-100000 usd
CY2024Q1 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
54200000 usd
CY2023Q2 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
55600000 usd
CY2024Q1 itt Estimated Environmental Related Assets
EstimatedEnvironmentalRelatedAssets
8300000 usd
CY2023Q2 itt Estimated Environmental Related Assets
EstimatedEnvironmentalRelatedAssets
13300000 usd
CY2024Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
94400000 usd
CY2023Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
258400000 usd
CY2024Q1 us-gaap Foreign Currency Derivative Instruments Not Designated As Hedging Instruments At Fair Value Net
ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAtFairValueNet
2500000 usd
CY2023Q4 us-gaap Foreign Currency Derivative Instruments Not Designated As Hedging Instruments At Fair Value Net
ForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAtFairValueNet
3800000 usd
CY2024Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-2200000 usd
CY2023Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-1100000 usd
CY2024Q1 itt Cash Inflow Outflow From Settlement Of Foreign Currency Derivative Contracts
CashInflowOutflowFromSettlementOfForeignCurrencyDerivativeContracts
1300000 usd
CY2023Q2 itt Cash Inflow Outflow From Settlement Of Foreign Currency Derivative Contracts
CashInflowOutflowFromSettlementOfForeignCurrencyDerivativeContracts
5500000 usd

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