DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Results of Discontinued Operations

Income from discontinued operations for the three and nine months ended September 30, 2012 also includes benefits from a third quarter 2012 asbestos-related settlement agreement related to a business we disposed of a number of years ago and changes in unrecognized tax benefits related to a legacy business. The nine month period also includes certain costs to create the revised organizational structure (referred to as transformation costs) following the spin-offs of Exelis Inc. and Xylem Inc. in the fourth quarter of 2011. Transformation costs included in discontinued operations provide no future benefit to the Company.

The table below provides the results of discontinued operations:

Three Months Ended September 30, 2012	Shape Cutting Businesses		Other(a)			Total
Revenue	$	8.3	$	—		$	8.3
Transformation costs	—		(0.4		)	(0.4		)
Earnings before income taxes	0.2		10.4			10.6
Income tax benefit	—		(1.7		)	(1.7		)
Income from discontinued operations	0.2		12.1			12.3

Nine Months Ended September 30, 2012	Shape Cutting Businesses		Other(a)			Total
Revenue	$	26.8	$	—		$	26.8
Transformation costs	—		7.8			7.8
Earnings before income taxes	0.7		3.2			3.9
Income tax expense (benefit)	0.4		(2.1		)	(1.7		)
Income from discontinued operations	0.3		5.3			5.6

(a) Amounts presented in the “Other” column relate to various divested ITT businesses accounted for as discontinued operations in the year of divestiture for which legacy liabilities remain, as well as transformation costs.