2011 Q4 Form 10-K Financial Statement

#000119312513080241 Filed on February 27, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2010 Q4 2010
Revenue $484.2M $452.7M $1.891B
YoY Change 6.96% -83.88% 6.82%
Cost Of Revenue $338.5M $302.8M $1.287B
YoY Change 11.79% -84.66% 6.61%
Gross Profit $145.7M $149.9M $603.9M
YoY Change -2.8% -82.05% 7.26%
Gross Profit Margin 30.09% 33.11% 31.94%
Selling, General & Admin $82.40M $81.40M $340.4M
YoY Change 1.23% -80.0% -2.74%
% of Gross Profit 56.55% 54.3% 56.37%
Research & Development $14.20M $15.30M $59.30M
YoY Change -7.19% -83.0% 11.89%
% of Gross Profit 9.75% 10.21% 9.82%
Depreciation & Amortization $18.00M -$149.8M $64.20M
YoY Change -112.02% 0.54% -1.23%
% of Gross Profit 12.35% -99.93% 10.63%
Operating Expenses $94.70M $96.70M $399.7M
YoY Change -2.07% -80.54% -0.82%
Operating Profit $51.00M $53.20M -$180.6M
YoY Change -4.14% -84.26% -212.88%
Interest Expense -$27.10M -$20.30M $97.10M
YoY Change 33.5% -11.74% -219.88%
% of Operating Profit -53.14% -38.16%
Other Income/Expense, Net $22.20M -$5.700M -$6.000M
YoY Change -489.47% 0.0%
Pretax Income -$275.4M $12.40M -$392.0M
YoY Change -2320.97% -95.25% 88.46%
Income Tax $268.8M $3.800M -$142.2M
% Of Pretax Income 30.65%
Net Earnings -$529.0M $274.3M $804.0M
YoY Change -292.85% 37.15% 27.82%
Net Earnings / Revenue -109.25% 60.59% 42.52%
Basic Earnings Per Share $8.75
Diluted Earnings Per Share -$5.658M $2.931M $8.75
COMMON SHARES
Basic Shares Outstanding 92.00M shares
Diluted Shares Outstanding 92.00M shares

Balance Sheet

Concept 2011 Q4 2010 Q4 2010
SHORT-TERM ASSETS
Cash & Short-Term Investments $690.0M $206.0M $206.0M
YoY Change 234.95% -83.06% -83.06%
Cash & Equivalents $689.8M $206.0M $206.0M
Short-Term Investments $0.00
Other Short-Term Assets $433.3M $3.685B $3.685B
YoY Change -88.24% 536.44% 536.44%
Inventory $248.1M $218.0M $218.0M
Prepaid Expenses
Receivables $343.0M $292.0M $292.0M
Other Receivables $48.00M $23.00M $23.00M
Total Short-Term Assets $1.762B $4.424B $4.424B
YoY Change -60.18% 1.68% 1.68%
LONG-TERM ASSETS
Property, Plant & Equipment $321.4M $299.0M $299.0M
YoY Change 7.49% -71.52% -71.52%
Goodwill $497.5M $491.2M
YoY Change 1.28%
Intangibles $76.60M
YoY Change
Long-Term Investments $3.600M
YoY Change
Other Assets $193.0M $7.229B $7.229B
YoY Change -97.33% 449.73% 449.73%
Total Long-Term Assets $1.910B $8.191B $8.191B
YoY Change -76.68% 20.85% 20.85%
TOTAL ASSETS
Total Short-Term Assets $1.762B $4.424B $4.424B
Total Long-Term Assets $1.910B $8.191B $8.191B
Total Assets $3.672B $12.62B $12.62B
YoY Change -70.9% 13.35% 13.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $361.1M $397.0M $397.0M
YoY Change -9.04% -68.81% -68.81%
Accrued Expenses $472.9M $92.00M $259.0M
YoY Change 414.02% -90.98% -59.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $300.0K $10.00M $10.00M
YoY Change -97.0% -86.67%
Total Short-Term Liabilities $834.0M $2.741B $2.741B
YoY Change -69.57% 4.46% 4.46%
LONG-TERM LIABILITIES
Long-Term Debt $4.000M $1.350B $1.350B
YoY Change -99.7% -5.66% -5.66%
Other Long-Term Liabilities $298.2M $3.934B $3.934B
YoY Change -92.42% 30.18% 30.18%
Total Long-Term Liabilities $2.143B $5.284B $5.284B
YoY Change -59.45% 18.66% 18.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $834.0M $2.741B $2.741B
Total Long-Term Liabilities $2.143B $5.284B $5.284B
Total Liabilities $2.977B $8.154B $8.154B
YoY Change -63.49% 12.45% 12.45%
SHAREHOLDERS EQUITY
Retained Earnings $852.6M
YoY Change
Common Stock $93.10M $92.00M
YoY Change 1.2% -49.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 10.60M shares
Shareholders Equity $694.8M $4.461B $4.461B
YoY Change
Total Liabilities & Shareholders Equity $3.672B $12.62B $12.62B
YoY Change -70.9% 13.35% 13.35%

Cashflow Statement

Concept 2011 Q4 2010 Q4 2010
OPERATING ACTIVITIES
Net Income -$529.0M $274.3M $804.0M
YoY Change -292.85% 37.15% 27.82%
Depreciation, Depletion And Amortization $18.00M -$149.8M $64.20M
YoY Change -112.02% 0.54% -1.23%
Cash From Operating Activities -$219.4M $558.2M $1.214B
YoY Change -139.3% 150.31% -4.99%
INVESTING ACTIVITIES
Capital Expenditures -$49.10M $47.70M -$126.3M
YoY Change -202.94% -0.63% 37.28%
Acquisitions $9.500M
YoY Change
Other Investing Activities -$61.10M -$250.4M $400.0K
YoY Change -75.6% 43.09% -100.2%
Cash From Investing Activities -$110.2M -$202.7M -$1.120B
YoY Change -45.63% 59.61% 288.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$29.50M
YoY Change
Debt Paid & Issued, Net $78.80M
YoY Change
Cash From Financing Activities -1.269B -239.7M -255.7M
YoY Change 429.24% -49.64% -75.41%
NET CHANGE
Cash From Operating Activities -219.4M 558.2M 1.214B
Cash From Investing Activities -110.2M -202.7M -1.120B
Cash From Financing Activities -1.269B -239.7M -255.7M
Net Change In Cash -1.598B 115.8M -161.2M
YoY Change -1480.14% -130.47% 222.4%
FREE CASH FLOW
Cash From Operating Activities -$219.4M $558.2M $1.214B
Capital Expenditures -$49.10M $47.70M -$126.3M
Free Cash Flow -$170.3M $510.5M $1.341B
YoY Change -133.36% 191.71% -2.15%

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CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2011 us-gaap Current Income Tax Expense Benefit
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CY2011 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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CY2011 us-gaap Payments Of Dividends Common Stock
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CY2011 us-gaap Current Foreign Tax Expense Benefit
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CY2011 us-gaap Depreciation
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CY2011 us-gaap Income Taxes Paid Net
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CY2011 us-gaap Payments For Proceeds From Other Investing Activities
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CY2011 us-gaap Allocated Share Based Compensation Expense
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CY2011 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
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CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2011 us-gaap Lease And Rental Expense
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CY2011 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
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CY2011 us-gaap Increase Decrease In Accrued Liabilities
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CY2011 us-gaap Interest Expense
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CY2011 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2011 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2011 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2011 us-gaap Increase Decrease In Accounts Payable
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CY2011 us-gaap Proceeds From Issuance Of Common Stock
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CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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CY2011 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
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CY2011 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2011 us-gaap Product Warranty Accrual Payments
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CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
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CY2011 us-gaap Cost Of Revenue
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CY2011 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2011 us-gaap Amortization Of Financing Costs
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CY2011 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2011 itt Number Of Individual Customer Accounting For Greater Than Ten Percent Of Consolidated Revenue
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CY2011 itt Number Of Manufacturing And Office Facilities Included In Leased Property
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CY2011 itt Debt Extinguishment
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CY2011 itt Contributions From Discontinued Operations
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CY2011 itt Compensation Costs Benefits On Liability Based Awards
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2100000
CY2011 itt Common Stock Period Increase Decrease
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CY2011 itt Asbestos Related Costs Net
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CY2011 itt Asbestos Related Payments
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CY2011 itt Gain Recognition Of Previously Deferred Gain On Terminated Interest Rate Swap
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CY2011 itt Miscellaneous Expense Net
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CY2011 itt Employees Related Expenses
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CY2011 itt Distributions Of Discontinued Operations
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CY2011 itt Distributions To Discontinued Operations
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CY2011 itt Shares Repurchased Aggregate Value Under Settlement Of Employee Tax Withholding Obligations
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CY2011 itt Transformation Related Payments
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CY2011 itt Other Comprehensive Income Net Amortization From Accumulated Other Comprehensive Income In To Net Period Benefit Cost Net Of Tax
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CY2011 itt Other Comprehensive Income Unrealized Changes In Postretirement Benefit Plans Net Of Tax
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CY2011 itt Retained Earnings Period Increase Decrease
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CY2011 itt Pre Tax Compensation Cost
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CY2011 itt Effective Income Tax Rate Reconciliation Revaluation Of State Deferred Tax Assets
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CY2011 itt Effective Income Tax Rate Reconciliation Tax On Undistributed Of Foreign Earnings
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CY2011 itt Actual Rate Of Return On Plan Assets
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CY2011 itt Average Exercise Price Of Anti Dilutive Stock Options
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CY2011 itt Number Of Shares Repurchased Under Settlement Of Employee Tax Withholding Obligations
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CY2011 itt Effective Income Tax Rate Reconciliation Tax Benefit From Foreign Permanent Items
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0.041 pure
CY2011 itt Effective Income Tax Rate Reconciliation Tax On Foreign Earnings
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CY2011 itt Transformation Costs Before Tax
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CY2011 itt Transformation Related Employee Stock Based Compensation Costs
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CY2012 dei Document Fiscal Period Focus
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CY2012 dei Entity Voluntary Filers
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No
CY2012 dei Document Fiscal Year Focus
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CY2012 dei Document Type
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10-K
CY2012 dei Document Period End Date
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2012-12-31
CY2012 dei Entity Central Index Key
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CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2012 dei Current Fiscal Year End Date
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CY2012 dei Trading Symbol
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ITT
CY2012 dei Entity Registrant Name
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ITT Corporation
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Amendment Flag
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false
CY2012 dei Entity Filer Category
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CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2012 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate
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CY2012 us-gaap Depreciation Depletion And Amortization
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CY2012 us-gaap Goodwill Purchase Accounting Adjustments
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CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2012 us-gaap Proceeds From Stock Options Exercised
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CY2012 us-gaap Net Cash Provided By Used In Discontinued Operations
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CY2012 us-gaap Repayments Of Long Term Debt
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CY2012 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2012 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2012 us-gaap Effective Income Tax Rate Reconciliation Deductions Medicare Prescription Drug Benefit
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CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2012 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
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CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2012 us-gaap Product Warranty Accrual Currency Translation Increase Decrease
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CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2012 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2012 us-gaap Product Warranty Accrual Warranties Issued
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CY2012 us-gaap Allowance For Loan And Lease Losses Write Offs
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CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2012 us-gaap Number Of Reportable Segments
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4 Segment
CY2012 us-gaap Defined Benefit Plan Amortization Of Net Prior Service Cost Credit
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CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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CY2012 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2012 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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CY2012 us-gaap Effective Income Tax Rate Continuing Operations
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CY2012 us-gaap Product Warranty Accrual Additions From Business Acquisition
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CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2012 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
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CY2012 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2012 us-gaap Payments To Acquire Investments
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CY2012 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2012 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2012 us-gaap Stock Repurchased During Period Value
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0.341 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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680200000
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88800000
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800000
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4600000
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CY2012 us-gaap Defined Benefit Plan Contributions By Employer
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71000000
CY2012 us-gaap Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss In Next Fiscal Year
DefinedBenefitPlanAmountsThatWillBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossInNextFiscalYear
15000000
CY2012 us-gaap Defined Benefit Plan Effect Of One Percentage Point Decrease On Accumulated Postretirement Benefit Obligation1
DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1
21800000
CY2012 us-gaap Revenues
Revenues
2227800000
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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48400000
CY2012 us-gaap Pension Contributions
PensionContributions
-71000000
CY2012 us-gaap Interest Paid Net
InterestPaidNet
2300000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
39600000
CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-4000000
CY2012 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
83800000
CY2012 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
0
CY2012 us-gaap Maturities Of Time Deposits Description
MaturitiesOfTimeDepositsDescription
Original maturity exceeding three months at the time of purchase. These investments mature within four months of the balance sheet date and have been presented in other current assets as short-term investments on the Consolidated Balance Sheet
CY2012 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Accumulated Postretirement Benefit Obligation
DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation
26800000
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
6400000
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
33600000
CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
125400000
CY2012 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.16
CY2012 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10200000
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5500000
CY2012 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-3200000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
17.21
CY2012 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
34200000
CY2012 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
5100000 shares
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
46800000
CY2012 us-gaap Depreciation
Depreciation
54600000
CY2012 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-100900000
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PaymentsForProceedsFromOtherInvestingActivities
-1000000
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AllocatedShareBasedCompensationExpense
12900000
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2.0 shares
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DeferredForeignIncomeTaxExpenseBenefit
-15900000
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LeaseAndRentalExpense
14300000
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IncreaseDecreaseInAccountsPayable
-4300000
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-3900000
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-10100000
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InterestExpense
100000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.71
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1000000
CY2012 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
84100000
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-36600000
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
58000000
CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0
CY2012 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
300000 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.016 pure
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
40100000
CY2012 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8700000
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
1000000
CY2012 us-gaap Cost Of Revenue
CostOfRevenue
1547600000
CY2012 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.18
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
6400000
CY2012 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
15900000
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.014 pure
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1300000
CY2012 itt Operating Margin
OperatingMargin
0.068 pure
CY2012 itt Performance Period For Measuring Fair Value Of Outstanding Awards
PerformancePeriodForMeasuringFairValueOfOutstandingAwards
P3Y
CY2012 itt Expenses To Be Recorded Over Rolling Period
ExpensesToBeRecordedOverRollingPeriod
P10Y
CY2012 itt Maximum Period For Providing Transition Period
MaximumPeriodForProvidingTransitionPeriod
P24M
CY2012 itt Minimum Period For Providing Transition Period
MinimumPeriodForProvidingTransitionPeriod
P3M
CY2012 itt Maximum Maturities Period To Consider Investment As Cash Equivalent
MaximumMaturitiesPeriodToConsiderInvestmentAsCashEquivalent
P3M
CY2012 itt Maximum Measurement Period To Record Fair Value Changes As Adjustment To Associated Goodwill From Date Of Acquisition
MaximumMeasurementPeriodToRecordFairValueChangesAsAdjustmentToAssociatedGoodwillFromDateOfAcquisition
Not to exceed 12 months
CY2012 itt Time Over Which Accrued For Current Pending Claims And Unasserted Claims To Be Filed
TimeOverWhichAccruedForCurrentPendingClaimsAndUnassertedClaimsToBeFiled
next 10 years
CY2012 itt Active Participants In Numerous Defined Benefit Pension Plans
ActiveParticipantsInNumerousDefinedBenefitPensionPlans
2400 Participant
CY2012 itt Number Of Individual Customer Accounting For Greater Than Ten Percent Of Consolidated Revenue
NumberOfIndividualCustomerAccountingForGreaterThanTenPercentOfConsolidatedRevenue
1 Employees
CY2012 itt Compensation Costs Benefits On Liability Based Awards
CompensationCostsBenefitsOnLiabilityBasedAwards
1900000
CY2012 itt Common Stock Period Increase Decrease
CommonStockPeriodIncreaseDecrease
-1200000
CY2012 itt Asbestos Related Costs Net
AsbestosRelatedCostsNet
50900000
CY2012 itt Asbestos Related Payments
AsbestosRelatedPayments
-20100000
CY2012 itt Miscellaneous Expense Net
MiscellaneousExpenseNet
5100000
CY2012 itt Shares Repurchased Aggregate Value Under Settlement Of Employee Tax Withholding Obligations
SharesRepurchasedAggregateValueUnderSettlementOfEmployeeTaxWithholdingObligations
3400000
CY2012 itt Transformation Related Payments
TransformationRelatedPayments
-47300000
CY2012 itt Part Of Net Contribution Expected To Be Made In First Quarter
PartOfNetContributionExpectedToBeMadeInFirstQuarter
600000
CY2012 itt Other Comprehensive Income Net Amortization From Accumulated Other Comprehensive Income In To Net Period Benefit Cost Net Of Tax
OtherComprehensiveIncomeNetAmortizationFromAccumulatedOtherComprehensiveIncomeInToNetPeriodBenefitCostNetOfTax
11700000
CY2012 itt Other Comprehensive Income Unrealized Changes In Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeUnrealizedChangesInPostretirementBenefitPlansNetOfTax
-54000000
CY2012 itt Retained Earnings Period Increase Decrease
RetainedEarningsPeriodIncreaseDecrease
46200000
CY2012 itt Reconciliation Uncertain Tax Position Purchase Accounting
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3800000
CY2012 itt Pre Tax Compensation Cost
PreTaxCompensationCost
14800000
CY2012 itt Effective Income Tax Rate Reconciliation Tax On Undistributed Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationTaxOnUndistributedOfForeignEarnings
0.013 pure
CY2012 itt Effective Income Tax Rate On Permanent Items
EffectiveIncomeTaxRateOnPermanentItems
0.027 pure
CY2012 itt Maximum Percentage Of Revenue For Which Individual Customer Accounts For
MaximumPercentageOfRevenueForWhichIndividualCustomerAccountsFor
0.134 pure
CY2012 itt Minimum Percentage Of Realized Ultimate Settlement
MinimumPercentageOfRealizedUltimateSettlement
0.50 pure
CY2012 itt Actual Rate Of Return On Plan Assets
ActualRateOfReturnOnPlanAssets
0.111 pure
CY2012 itt Percentage Of Escalation Over Cost
PercentageOfEscalationOverCost
0.10 pure
CY2012 itt Average Exercise Price Of Anti Dilutive Stock Options
AverageExercisePriceOfAntiDilutiveStockOptions
21.47
CY2012 itt Number Of Shares Repurchased Under Settlement Of Employee Tax Withholding Obligations
NumberOfSharesRepurchasedUnderSettlementOfEmployeeTaxWithholdingObligations
100000 shares
CY2012 itt Number Of Options Out Of Money Exercisable
NumberOfOptionsOutOfMoneyExercisable
100000 shares
CY2012 itt Share Based Compensation Arrangement By Share Based Payment Award Initially Available Number Of Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardInitiallyAvailableNumberOfShares
4600000 shares
CY2012 itt Defined Benefit Plan Interim Remeasurement
DefinedBenefitPlanInterimRemeasurement
41200000
CY2012 itt Increase In Valuation Allowance Attributable To Federal And State Net Operating Loss And Credit Carryforwards
IncreaseInValuationAllowanceAttributableToFederalAndStateNetOperatingLossAndCreditCarryforwards
20100000
CY2012 itt Increase In Valuation Allowance Attributable To Foreign Net Operating Loss Carryforwards
IncreaseInValuationAllowanceAttributableToForeignNetOperatingLossCarryforwards
35700000
CY2012 itt Effective Income Tax Rate Reconciliation Tax Benefit From Foreign Permanent Items
EffectiveIncomeTaxRateReconciliationTaxBenefitFromForeignPermanentItems
-0.197 pure
CY2012 itt Effective Income Tax Rate Reconciliation Tax On Foreign Earnings
EffectiveIncomeTaxRateReconciliationTaxOnForeignEarnings
0.003 pure
CY2012 itt Transformation Costs Before Tax
TransformationCostsBeforeTax
20800000
CY2012 itt Transformation Related Employee Stock Based Compensation Costs
TransformationRelatedEmployeeStockBasedCompensationCosts
500000
CY2012 itt Other Comprehensive Income Defined Benefit Plan Unrealized Foreign Currency Gain Loss Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanUnrealizedForeignCurrencyGainLossNetOfTax
-400000
CY2012 itt Measurement Period For Expected Return On Plan Assets
MeasurementPeriodForExpectedReturnOnPlanAssets
Over the last five years
CY2012 itt Distribution Of Segment Retained Earnings Tax Filing Adjustment
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7000000
CY2011Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
700000 shares
CY2011Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
13.87
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
700000 shares
CY2011Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
20.28
CY2011Q2 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
66100000
CY2011Q2 itt Capital Lease Termination Charges
CapitalLeaseTerminationCharges
4600000

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