ITT Inc. (ITT) Financial Statements (2024 and earlier)

Company Profile

Business Address 100 WASHINGTON BLVD
STAMFORD, CT 06902
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 3561 - Pumps and Pumping Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments489561648860612561
Cash and cash equivalents489561648860612561
Receivables675629555508578540
Inventory, net of allowances, customer advances and progress billings575534431361393381
Inventory575534431361393381
Other current assets11811389190153163
Total current assets:1,8581,8371,7221,9171,7371,645
Noncurrent Assets
Property, plant and equipment561527509525532519
Intangible assets, net (including goodwill)1,1331,0781,0101,0511,0651,012
Goodwill1,016965924945927876
Intangible assets, net (excluding goodwill)11711386106138136
Contract with customer, asset, after allowance for credit loss   0  1
Other noncurrent assets381339261272317197
Deferred tax assets, net165
Other undisclosed noncurrent assets   63512458309
Total noncurrent assets:2,0751,9441,8432,3602,3712,202
TOTAL ASSETS:3,9333,7803,5654,2784,1083,847
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities850735731764763756
Accounts payable437401373307332339
Accrued liabilities413333357457431417
Debt      
Other undisclosed current liabilities 18845119810787116
Total current liabilities:1,0381,186928871850872
Noncurrent Liabilities
Long-term debt and lease obligation, including: 681013139
Long-term debt, excluding current maturities 681013 9
Other undisclosed long-term debt and lease obligation    (72)(63) 
Liabilities, other than long-term debt356337406438449376
Deferred revenue    0 
Deferred tax liabilities, net2
Liability, pension and other postretirement and postemployment benefits139137200228214208
Other liabilities217200207211235167
Operating lease, liability    7276
Other undisclosed noncurrent liabilities(6)(8)(10)828719765
Total noncurrent liabilities:3563374061,2791,1801,150
Total liabilities:1,3941,5231,3352,1502,0302,022
Equity
Equity, attributable to parent2,5282,2482,2262,1262,0751,822
Common stock828386878888
Accumulated other comprehensive loss(332)(344)(321)(279)(385)(376)
Retained earnings2,7782,5102,4622,3192,3722,110
Equity, attributable to noncontrolling interest119523 
Other undisclosed equity      3
Total equity:2,5392,2572,2312,1282,0781,825
TOTAL LIABILITIES AND EQUITY:3,9333,7803,5654,2784,1083,847

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues3,2832,9882,7652,4782,8462,745
Cost of revenue(2,176)(2,065)(1,866)(1,696)(1,936)(1,858)
Gross profit:1,107922900782910887
Operating expenses(579)(454)(503)(448)(518)(526)
Other undisclosed operating income (loss)   108(107)1936
Operating income:528468504227411397
Nonoperating income9022  
Investment income, nonoperating      
Gain (loss), foreign currency transaction, before tax 7 (2)(8)  
Net periodic defined benefits expense (reversal of expense), excluding service cost component  (1)    
Other nonoperating income 21    
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes   2(144)3(6)
Income from continuing operations before equity method investments, income taxes:53746850985414391
Other undisclosed loss from continuing operations before income taxes(17)(6)    
Income from continuing operations before income taxes:52046250985414391
Income tax expense(105)(91)(190)(15)(90)(58)
Income from continuing operations:41537132070325333
Income before gain (loss) on sale of properties:31970325335
Income (loss) from discontinued operations   (0)  1
Other undisclosed net income (loss)(1)(1)242 
Net income:41436932174326335
Net loss attributable to noncontrolling interest(3)(2)(5)(1)(1)(1)
Net income attributable to parent:41136731673325334
Other undisclosed net income available to common stockholders, basic      1
Net income available to common stockholders, diluted:41136731673325335

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:41436932174326335
Other comprehensive income (loss)18(23)(42)106(10)(27)
Other undisclosed comprehensive loss(5)     
Comprehensive income:426346279180316307
Comprehensive loss, net of tax, attributable to noncontrolling interest(3)(2)(5)(1)(1)(1)
Comprehensive income, net of tax, attributable to parent:423344274178315306

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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