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CONSOLIDATED CONDENSED INCOME STATEMENTS - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Income Statement [Abstract]    
Revenue $ 689.3 $ 625.8
Costs of revenue 465.1 422.7
Gross profit 224.2 203.1
General and administrative expenses 65.1 65.7
Sales and marketing expenses 43.5 43.1
Research and development expenses 24.7 22.4
Asbestos-related (benefit) costs, net (19.7) 14.9
Operating income 110.6 57.0 [1]
Interest and non-operating expenses, net 1.8 2.2
Income from continuing operations before income tax expense 108.8 54.8
Income tax expense 7.6 9.1
Income from continuing operations 101.2 45.7
Income (loss) from discontinued operations, net of tax 0.1 (0.1)
Net income 101.3 45.6
Less: Income (loss) attributable to noncontrolling interests 0.1 (0.4)
Net income attributable to ITT Inc. 101.2 46.0
Amounts attributable to ITT Inc.:    
Income from continuing operations, net of tax 101.1 46.1
Income (loss) from discontinued operations, net of tax 0.1 (0.1)
Net income attributable to ITT Inc. $ 101.2 $ 46.0
Basic:    
Continuing operations $ 1.15 $ 0.52
Discontinued operations 0.00 0.00
Net income 1.15 0.52
Diluted:    
Continuing operations 1.14 0.52
Discontinued operations 0.00 0.00
Net income $ 1.14 $ 0.52
Weighted average common shares – basic 88.0 88.5
Weighted average common shares – diluted 89.0 89.2
Cash dividends declared per common share $ 0.134 $ 0.128
[1] (a)Operating income and operating margin for the three months ended March 31, 2017 has been restated to reflect the adoption of ASU 2017-07. Refer to Note 2, Recent Accounting Pronouncements for further information.