ITT Inc. (ITT) financial statements (2021 and earlier)

Company profile

Business Address 1133 WESTCHESTER AVENUE
WHITE PLAINS, NY 10604
State of Incorp.
Fiscal Year End December 31
SIC 3561 - Pumps and Pumping Equipment (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments860612561390461416589
Cash and cash equivalents860612561390461416584
Short-term investments      5
Receivables508578540630524585500
Inventory, net of allowances, customer advances and progress billings361393381312295293264
Inventory361393381312295293302
Progress payments netted against inventory for long-term contracts or programs      (38)
Prepaid expense      26
Other current assets190153163147122204250
Other undisclosed current assets      7
Total current assets:1,9171,7371,6451,4791,4021,4981,636
Noncurrent Assets
Property, plant and equipment525532519522465444444
Long-term investments and receivables      4
Long-term investments      4
Intangible assets, net (including goodwill)1,0511,0651,0121,043935966724
Goodwill945927876887775778632
Intangible assets, net (excluding goodwill)10613813615616018791
Contract with customer, asset, net  1
Other noncurrent assets272317197203188153150
Deferred tax assets, net165150297326304
Other undisclosed noncurrent assets512458309304315338370
Total noncurrent assets:2,3602,3712,2022,2222,2002,2261,995
TOTAL ASSETS:4,2784,1083,8473,7003,6023,7243,632
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities764763756736652707980
Accounts payable307332339351302315310
Accrued liabilities457431417384350393466
Employee-related liabilities      177
Taxes payable      28
Debt   1642142462
Other undisclosed current liabilities10787116   (206)
Total current liabilities:871850872899866953775
Noncurrent Liabilities
Long-term debt and lease obligation, including:131398237
Long-term debt, excluding current maturities13 98226
Capital lease obligations 0011
Operating lease, liability7276
Other undisclosed long-term debt and lease obligation(72)(63)     
Liabilities, other than long-term debt438449376404430452647
Accounts payable and accrued liabilities      39
Deferred revenue0 
Deferred tax liabilities, net21129
Liability, pension and other postretirement and postemployment benefits228214208227249260250
Accrued environmental loss contingencies      80
Other liabilities211235167176181190270
Other undisclosed noncurrent liabilities828719765791875951982
Total noncurrent liabilities:1,2791,1801,1501,2031,3071,4051,636
Total liabilities:2,1502,0302,0222,1022,1732,3582,411
Stockholders' equity
Stockholders' equity attributable to parent2,1262,0751,8221,5961,4261,3621,215
Common stock87888888889091
Accumulated other comprehensive loss(279)(385)(376)(348)(451)(424)(321)
Retained earnings2,3192,3722,1101,8561,7891,6971,445
Stockholders' equity attributable to noncontrolling interest23 2235
Other undisclosed stockholders' equity  3    
Total stockholders' equity:2,1282,0781,8251,5981,4281,3651,220
TOTAL LIABILITIES AND EQUITY:4,2784,1083,8473,7003,6023,7243,632

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues2,4782,8462,7452,5852,4052,4862,655
Cost of revenue(1,696)(1,936)(1,858)(1,768)(1,647)(1,677)(1,788)
Gross profit:782910887817758809866
Operating expenses(448)(518)(526)(527)(525)(520)(639)
Other undisclosed operating income (loss)(107)193620269139
Operating income:227411397310259380266
Nonoperating income2     3
Investment income, nonoperating      3
Foreign currency transaction loss, before tax(8)      
Interest and debt expense      (4)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(144)3(6)(0)(1)2(3)
Income from continuing operations before income taxes:85414391309258382262
Income tax expense(15)(90)(58)(195)(76)(70)(71)
Income from continuing operations:70325333115182312191
Income (loss) from discontinued operations  1(2)439(4)
Income before gain (loss) on sale of properties:70325335113187352187
Other undisclosed net income42     
Net income:74326335113187352187
Net income (loss) attributable to noncontrolling interest(1)(1)(1)0(1)0(2)
Net income attributable to parent:73325334114186352185
Other undisclosed net income (loss) available to common stockholders, basic  1(0)1(0)2
Net income available to common stockholders, diluted:73325335113187352187

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:74326335113187352187
Other comprehensive income (loss)106(10)(27)103(27)(103)(111)
Other undisclosed comprehensive loss    (0)  
Comprehensive income:18031630721615924976
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(1)(1)(1)0(1)0(2)
Comprehensive income, net of tax, attributable to parent:17831530621715924974

Statements sources

The financial statements are based on the company's filings with the 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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