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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Oct. 01, 2022
Oct. 02, 2021
Income Statement [Abstract]        
Revenue $ 753.6 $ 689.6 $ 2,213.1 $ 2,079.6
Cost of revenue 520.2 467.6 1,539.1 1,404.0
Gross profit 233.4 222.0 674.0 675.6
General and administrative expenses 47.5 60.4 164.9 176.4
Sales and marketing expenses 39.5 37.4 118.3 112.4
Research and development expenses 24.4 22.5 73.7 70.0
Asbestos-related benefit, net 0.0 0.0 0.0 (74.4)
Operating income 122.0 101.7 317.1 391.2
Interest and non-operating expense (income), net 2.3 0.5 2.6 (4.3)
Income from continuing operations before income tax expense 119.7 101.2 314.5 395.5
Income tax expense 16.4 14.1 59.9 182.7
Income from continuing operations 103.3 87.1 254.6 212.8
(Loss) income from discontinued operations, net of tax (expense) benefit of $(0.1), $0.5, $0.3, and $0.5, respectively (0.1) 0.9 (1.3) 0.9
Net income 103.2 88.0 253.3 213.7
Less: Income attributable to noncontrolling interests 0.8 0.5 1.5 1.0
Net income attributable to ITT Inc. 102.4 87.5 251.8 212.7
Amounts attributable to ITT Inc.:        
Income from continuing operations 102.5 86.6 253.1 211.8
(Loss) income from discontinued operations, net of tax (0.1) 0.9 (1.3) 0.9
Net income attributable to ITT Inc. $ 102.4 $ 87.5 $ 251.8 $ 212.7
Basic:        
Continuing operations $ 1.24 $ 1.01 $ 3.03 $ 2.46
Discontinued operations 0 0.01 (0.02) 0.01
Net income 1.24 1.02 3.01 2.47
Diluted:        
Continuing operations 1.23 1.00 3.02 2.45
Discontinued operations 0 0.01 (0.02) 0.01
Net income $ 1.23 $ 1.01 $ 3.00 $ 2.46
Weighted average common shares – basic 82.7 85.9 83.6 86.1
Weighted average common shares – diluted 83.0 86.3 83.9 86.6