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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments612561390461416589620
Cash and cash equivalents612561390461416584507
Short-term investments     5113
Receivables578540630524585500497
Inventory, net of allowances, customer advances and progress billings393381312295293264316
Inventory393381312295293302316
Progress payments netted against inventory for long-term contracts or programs     (38)
Prepaid expense     26 
Other current assets153163147122204250346
Other undisclosed current assets     7(113)
Total current assets:1,7371,6451,4791,4021,4981,6361,666
Noncurrent Assets
Property, plant and equipment532519522465444444426
Long-term investments and receivables     45
Long-term investments     45
Intangible assets, net (including goodwill)1,0651,0121,043935966724767
Goodwill927876887775778632660
Intangible assets, net (excluding goodwill)13813615616018791107
Contract with customer, asset, net 1
Other noncurrent assets317197203188153150145
Deferred tax assets, net165150297326304304
Other undisclosed noncurrent assets458309304315338370429
Total noncurrent assets:2,3712,2022,2222,2002,2261,9952,075
TOTAL ASSETS:4,1083,8473,7003,6023,7243,6323,740
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities7637567366527079801,041
Accounts payable332339351302315310333
Accrued liabilities431417384350393466500
Employee-related liabilities     177179
Taxes payable     2830
Debt  164214246240
Other undisclosed current liabilities87116   (206)(248)
Total current liabilities:850872899866953775833
Noncurrent Liabilities
Long-term debt and lease obligation, including:13982379
Long-term debt, excluding current maturities 982268
Capital lease obligations 00112
Operating lease, liability76
Other undisclosed long-term debt and lease obligation(63)      
Liabilities, other than long-term debt449376404430452647639
Pension and other postretirement defined benefit plans, liabilities243
Accounts payable and accrued liabilities     39 
Deferred compensation liability, classified      18
Deferred tax liabilities, net2112915
Liability, pension and other postretirement and postemployment benefits214208227249260250
Accrued environmental loss contingencies     8085
Other liabilities235167176181190270278
Other undisclosed noncurrent liabilities7197657918759519821,053
Total noncurrent liabilities:1,1801,1501,2031,3071,4051,6361,701
Total liabilities:2,0302,0222,1022,1732,3582,4112,533
Stockholders' equity
Stockholders' equity attributable to parent2,0751,8221,5961,4261,3621,2151,201
Common stock88888888909191
Accumulated other comprehensive loss(385)(376)(348)(451)(424)(321)(210)
Retained earnings2,3722,1101,8561,7891,6971,4451,320
Stockholders' equity attributable to noncontrolling interest3 22356
Other undisclosed stockholders' equity 3     
Total stockholders' equity:2,0781,8251,5981,4281,3651,2201,207
TOTAL LIABILITIES AND EQUITY:4,1083,8473,7003,6023,7243,6323,740

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues2,8462,7452,5852,4052,4862,6552,497
Cost of revenue(1,936)(1,858)(1,768)(1,647)(1,677)(1,788)(1,697)
Gross profit:910887817758809866800
Operating expenses(518)(526)(527)(525)(520)(639)(629)
Other undisclosed operating income19362026913913
Operating income:411397310259380266184
Nonoperating income
(Investment Income, Nonoperating)
     35
Interest and debt expense     (4)(6)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes3(6)(0)(1)2(3)(2)
Income from continuing operations before income taxes:414391309258382262181
Income tax expense (benefit)(90)(58)(195)(76)(70)(71)310
Income from continuing operations:325333115182312191490
Income (loss) from discontinued operations 1(2)439(4)1
Income before gain (loss) on sale of properties:325335113187352187491
Other undisclosed net income2      
Net income:326335113187352187491
Net income (loss) attributable to noncontrolling interest(1)(1)0(1)0(2)(2)
Net income attributable to parent:325334114186352185489
Other undisclosed net income (loss) available to common stockholders, basic 1(0)1(0)22
Net income available to common stockholders, diluted:325335113187352187491

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:326335113187352187491
Other comprehensive income (loss)(10)(27)103(27)(103)(111)77
Other undisclosed comprehensive loss   (0)   
Comprehensive income:31630721615924976568
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(1)(1)0(1)0(2)2
Other undisclosed comprehensive loss, net of tax, attributable to parent      (5)
Comprehensive income, net of tax, attributable to parent:31530621715924974566

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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