ITT Inc. (ITT) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments648860612561390461416
Cash and cash equivalents648860612561390461416
Receivables555508578540630524585
Inventory, net of allowances, customer advances and progress billings431361393381312295293
Inventory431361393381312295293
Other current assets89190153163147122204
Total current assets:1,7221,9171,7371,6451,4791,4021,498
Noncurrent Assets
Property, plant and equipment509525532519522465444
Intangible assets, net (including goodwill)1,0101,0511,0651,0121,043935966
Goodwill924945927876887775778
Intangible assets, net (excluding goodwill)86106138136156160187
Contract with customer, asset, net0  1
Other noncurrent assets261272317197203188153
Deferred tax assets, net165150297326
Other undisclosed noncurrent assets63512458309304315338
Total noncurrent assets:1,8432,3602,3712,2022,2222,2002,226
TOTAL ASSETS:3,5654,2784,1083,8473,7003,6023,724
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities731764763756736652707
Accounts payable373307332339351302315
Accrued liabilities357457431417384350393
Debt    164214246
Other undisclosed current liabilities19810787116   
Total current liabilities:928871850872899866953
Noncurrent Liabilities
Long-term debt and lease obligation, including:1013139823
Long-term debt, excluding current maturities1013 9822
Capital lease obligations 001
Operating lease, liability 7276
Other undisclosed long-term debt and lease obligation (72)(63)    
Liabilities, other than long-term debt406438449376404430452
Deferred revenue 0 
Deferred tax liabilities, net2112
Liability, pension and other postretirement and postemployment benefits200228214208227249260
Other liabilities207211235167176181190
Other undisclosed noncurrent liabilities(10)828719765791875951
Total noncurrent liabilities:4061,2791,1801,1501,2031,3071,405
Total liabilities:1,3352,1502,0302,0222,1022,1732,358
Stockholders' equity
Stockholders' equity attributable to parent2,2262,1262,0751,8221,5961,4261,362
Common stock86878888888890
Accumulated other comprehensive loss(321)(279)(385)(376)(348)(451)(424)
Retained earnings2,4622,3192,3722,1101,8561,7891,697
Stockholders' equity attributable to noncontrolling interest523 223
Other undisclosed stockholders' equity   3   
Total stockholders' equity:2,2312,1282,0781,8251,5981,4281,365
TOTAL LIABILITIES AND EQUITY:3,5654,2784,1083,8473,7003,6023,724

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues2,7652,4782,8462,7452,5852,4052,486
Cost of revenue(1,866)(1,696)(1,936)(1,858)(1,768)(1,647)(1,677)
Gross profit:900782910887817758809
Operating expenses(503)(448)(518)(526)(527)(525)(520)
Other undisclosed operating income (loss)108(107)1936202691
Operating income:504227411397310259380
Nonoperating income22     
Foreign currency transaction loss, before tax(2)(8)     
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes2(144)3(6)(0)(1)2
Income from continuing operations before income taxes:50985414391309258382
Income tax expense(190)(15)(90)(58)(195)(76)(70)
Income from continuing operations:32070325333115182312
Income (loss) from discontinued operations(0)  1(2)439
Income before gain (loss) on sale of properties:31970325335113187352
Other undisclosed net income242    
Net income:32174326335113187352
Net income (loss) attributable to noncontrolling interest(5)(1)(1)(1)0(1)0
Net income attributable to parent:31673325334114186352
Other undisclosed net income (loss) available to common stockholders, basic   1(0)1(0)
Net income available to common stockholders, diluted:31673325335113187352

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:32174326335113187352
Other comprehensive income (loss)(42)106(10)(27)103(27)(103)
Other undisclosed comprehensive loss     (0) 
Comprehensive income:279180316307216159249
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(5)(1)(1)(1)0(1)0
Comprehensive income, net of tax, attributable to parent:274178315306217159249

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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