0000216228-23-000039 | 10-Q | XBRL Viewer

Other employee benefit-related assets

19.7

16.5

Other current assets

102.4

112.9

125.3

119.8

Operating lease right-of-use assets(a)

^[1]

83.4

73.8

Deferred income taxes(b)

^[2]

71.9

54.7

Equity-method and other investments

45.7

42.9

Capitalized software costs

9.1

12.4

7.0

9.6

Receivables, Net by Type Table

31.1

25.9

Other non-current assets

$ 373.5

$ 339.1

[1]	The increase in the operating lease right-of-use asset balance from December 31, 2022 to September 30, 2023 is primarily driven by the renewal of an operating facility lease in Irvine, California and by the current period acquisition of Micro-Mode.
[2]	The increase in deferred income taxes from December 31, 2022 to September 30, 2023 is primarily due to benefits of $16.5 from valuation allowance reversals on deferred tax assets in Germany.

REVENUE Revenue Textuals (Details) $ in Millions	3 Months Ended	9 Months Ended
REVENUE Revenue Textuals (Details) $ in Millions	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)
Contract with Customer, Liability, Revenue Recognized	$ 8.2	$ 48.3
Revenue, Remaining Performance Obligation, Amount	1,206.6	1,206.6
Remaining Current Fiscal Year [Member] \| Minimum [Member]
Revenue, Remaining Performance Obligation, Amount	500.0	500.0
Remaining Current Fiscal Year [Member] \| Maximum [Member]
Revenue, Remaining Performance Obligation, Amount	$ 520.0	$ 520.0

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Oct. 01, 2022	Dec. 31, 2021
Restricted Cash	$ 0.9	$ 0.7	$ 0.8	$ 0.8

RECEIVABLES, NET (Tables)

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

The following table summarizes our receivables and associated allowance for credit losses.


As of the Period Ended	September 30, 2023		December 31, 2022
Trade accounts receivable	$	655.6	$	614.0
Notes receivable	19.1		8.2
Other	13.6		18.3
Receivables, gross	688.3		640.5
Less: Allowance for credit losses - receivables	(14.3)		(11.7)
Receivables, net	$	674.0	$	628.8

Allowance for Credit Losses Table

The following table displays our allowance for credit losses for receivables and for contract assets, which are recorded within Receivables, net and Other current or non-current assets, respectively, within our Consolidated Condensed Balance Sheets.


As of the Period Ended	September 30, 2023		December 31, 2022
Allowance for credit losses - receivables	$	14.3	$	11.7
Allowance for credit losses - contract assets	—		0.5
Total allowance for credit losses	$	14.3	$	12.2

Allowance for Credit Losses Rollforward Table

The following table displays a rollforward of our total allowance for credit losses.


	September 30, 2023		October 1, 2022
Total allowance for credit losses - January 1	$	12.2	$	12.5

Charges to income(a)	3.4		2.5
Write-offs	(1.2)		(1.1)
Foreign currency and other	(0.1)		(0.5)
Total allowance for credit losses - ending balance	$	14.3	$	13.4

(a) We recognized bad debt expense of $1.2 relating to impacts stemming from the Russia-Ukraine war during each of the nine months ended September 30, 2023 and October 1, 2022. See Note 1, Description of Business and Basis of Presentation, for further information.

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)
$ in Millions

Sep. 30, 2023

Dec. 31, 2022

Current assets:

Cash and cash equivalents

$ 430.8

$ 561.2

Receivables, net

674.0

628.8

Inventories

^[1]

574.3

533.9

Other current assets

102.4

112.9

Total current assets

1,781.5

1,836.8

Non-current assets:

Plant, property and equipment, net

523.2

526.8

Goodwill

1,001.1

964.8

Other intangible assets, net

123.0

112.8

Other non-current assets

373.5

339.1

Total non-current assets

2,020.8

1,943.5

Total assets

3,802.3

3,780.3

Current liabilities:

Commercial paper and current maturities of long-term debt

245.4

451.0

Accounts payable

408.1

401.1

Accrued and other current liabilities

390.5

333.4

Total current liabilities

1,044.0

1,185.5

Non-current liabilities:

Postretirement benefits

132.0

137.2

Other non-current liabilities

207.1

200.2

Total non-current liabilities

339.1

337.4

Total liabilities

1,383.1

1,522.9

Common stock: [Abstract]

Issued and outstanding – 82.1 shares and 82.7 shares, respectively

82.1

82.7

Retained earnings

2,705.8

2,509.7

Accumulated other comprehensive income (loss):

Postretirement benefits

3.8

3.6

Cumulative translation adjustments

(382.6)

(347.9)

Total accumulated other comprehensive loss

(378.8)

(344.3)

Total ITT Inc. shareholders’ equity

2,409.1

2,248.1

Noncontrolling interests

10.1

9.3

Total shareholders’ equity

2,419.2

2,257.4

Total liabilities and shareholders’ equity

$ 3,802.3

$ 3,780.3

[1]	We recorded inventory write-downs of $1.6 and $5.6 related to inventories held by entities impacted by the Russia-Ukraine war during the nine months ended September 30, 2023 and October 1, 2022, respectively. See Note 1, Description of Business and Basis of Presentation, for further information.

INVENTORIES, NET - Components of Inventories, Net (Detail) - USD ($)
$ in Millions

Sep. 30, 2023

Dec. 31, 2022

Inventory Disclosure [Abstract]

Raw materials

$ 379.8

$ 342.7

Work in process

113.0

104.6

Finished goods

81.5

86.6

Inventories(a)

^[1]

$ 574.3

$ 533.9

[1]	We recorded inventory write-downs of $1.6 and $5.6 related to inventories held by entities impacted by the Russia-Ukraine war during the nine months ended September 30, 2023 and October 1, 2022, respectively. See Note 1, Description of Business and Basis of Presentation, for further information.

REVENUE Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Current contract assets, net	$ 24.8	$ 26.3
Non-current contract assets, net	1.6	1.2
Current contract liabilities	(80.9)	(70.2)
Non-current contract liabilities	(4.4)	(4.4)
Net contract liabilities	$ 58.9	$ 47.1

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Dividends declared per share	$ 0.29	$ 0.264	$ 0.87	$ 0.792

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Employee Compensation Costs - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards	$ 5.4	$ 5.0	$ 16.3	$ 14.4
Equity Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards	5.0	4.8	15.1	13.6
Liability Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards	$ 0.4	$ 0.2	$ 1.2	$ 0.8

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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PLANT, PROPERTY AND EQUIPMENT, NET - Components of Plant, Property and Equipment, Net (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 1,267.4	$ 1,208.3
Buildings and improvements	286.8	277.6
Furniture, fixtures and office equipment	81.0	80.5
Construction work in progress	62.0	86.9
Land and improvements	28.5	29.3
Other	2.9	3.3
Plant, property and equipment, gross	1,728.6	1,685.9
Less: Accumulated depreciation	(1,205.4)	(1,159.1)
Plant, property and equipment, net	$ 523.2	$ 526.8

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Income Statement [Abstract]
Tax Benefit (Expense) of Discontinued Operations	$ 0.0	$ (0.1)	$ 0.0	$ 0.3

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

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Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2023

COMMITMENTS AND CONTINGENCIES

From time to time, we are involved in litigation, claims, government inquiries, investigations and proceedings, including but not limited to those relating to environmental exposures, intellectual property matters, personal injury claims, product liabilities, regulatory matters, commercial and government contract issues, employment and employee benefit matters, commercial or contractual disputes, and securities matters.

Although the ultimate outcome of any legal matter cannot be predicted with certainty, based on present information, including our assessment of the merits of the particular claim, as well as our current reserves and insurance coverage, we do not expect that such legal proceedings will have any material adverse impact on our financial statements, unless otherwise noted below. However, there can be no assurance that an adverse outcome in any of the proceedings described below will not result in material fines, penalties or damages, changes to the Company's business practices, loss of (or litigation with) customers or a material adverse effect on our financial statements.

Environmental Matters

In the ordinary course of business, we are subject to federal, state, local, and foreign environmental laws and regulations. We are responsible, or are alleged to be responsible, for ongoing environmental investigation and site remediation. These sites are in various stages of investigation or remediation and in many of these proceedings our liability is considered de minimis. We have received notification from the U.S. Environmental Protection Agency, and from similar state and foreign environmental agencies, that a number of sites formerly or currently owned or operated by ITT, and other properties or water supplies that may be or have been impacted from those operations, contain disposed or recycled materials or wastes and require environmental investigation or remediation. These sites include instances where we have been identified as a potentially responsible party under federal and state environmental laws and regulations.

The following table provides a rollforward of our estimated environmental liability.


For the Nine Months Ended	September 30, 2023		October 1, 2022
Environmental liability - beginning balance	$	57.1	$	54.1
Change in estimates for pre-existing accruals:
Continuing operations	0.8		—
Discontinued operations(a)	—		5.4
Accruals added during the period for new matters	—		0.2
Payments	(2.9)		(3.4)
Foreign currency	(0.1)		(0.5)
Environmental liability - ending balance	$	54.9	$	55.8

Environmental-related assets, including a Qualified Settlement Fund and estimated recoveries from insurance providers and other third parties, were $11.0 and $14.6 as of September 30, 2023 and October 1, 2022, respectively.

The following table illustrates the reasonably possible high range of estimated liability and number of active sites.


As of the Period Ended	September 30, 2023		October 1, 2022
High-end estimate of environmental liability	$	89	$	98
Number of open environmental sites	26		28

As actual costs incurred at identified sites in future periods may vary from our current estimates given the inherent uncertainties in evaluating environmental exposures, management believes it is possible that the outcome of these uncertainties may have a material adverse effect on our financial statements.

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Description of Business	Description of Business ITT Inc. is a diversified manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. Unless the context otherwise indicates, references herein to “ITT,” “the Company,” and such words as “we,” “us,” and “our” include ITT Inc. and its subsidiaries. ITT operates through three reportable segments: Motion Technologies (MT), consisting of friction and shock and vibration equipment; Industrial Process (IP), consisting of industrial flow equipment and services; and Connect & Control Technologies (CCT), consisting of electronic connectors, fluid handling, motion control, composite materials and noise and energy absorption products. Financial information for our segments is presented in Note 3, Segment Information. Business Combination On May 2, 2023, we completed the acquisition of Micro-Mode Products, Inc. (Micro-Mode) for a purchase price of $79.3, net of cash acquired. Subsequent to the acquisition, Micro-Mode’s results are reported within our CCT segment. Refer to Note 18, Acquisitions and Investments, for more information. Russia-Ukraine War In February 2022, the United States and other leading nations announced targeted economic sanctions on Russia and certain Russian citizens in response to Russia’s war with Ukraine, which has increased regional instability and global economic and political uncertainty. During the three and nine months ended September 30, 2023, we recorded total pre-tax charges of $0.5 and $3.7, respectively, primarily related to accounts receivable and inventory write-downs due to the suspension of business in Russia. During the three and nine months ended October 1, 2022, we recorded total pre-tax charges of $0.3 and $8.2, respectively, related to impacts from the Russia-Ukraine war. For further discussion of risks stemming from the Russia-Ukraine war, see Part I, Item IA, “Risk Factors” in our 2022 Annual Report for the fiscal year ended December 31, 2022.
Basis of Accounting	Basis of Presentation The unaudited consolidated condensed financial statements have been prepared pursuant to the rules and regulations of the SEC and, in the opinion of management, reflect all known adjustments (which consist primarily of normal, recurring accruals, estimates and assumptions) necessary to state fairly the financial position, results of operations, and cash flows for the periods presented. The Consolidated Condensed Balance Sheet as of December 31, 2022, presented herein, has been derived from our audited balance sheet included in our Annual Report on Form 10-K (2022 Annual Report) for the year ended December 31, 2022, but does not include all disclosures required by accounting principles generally accepted in the United States (GAAP). We consistently applied the accounting policies described in the 2022 Annual Report in preparing these unaudited financial statements. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2022 Annual Report. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Estimates are revised as additional information becomes available. Estimates and assumptions are used for, but not limited to, revenue recognition, unrecognized tax benefits, deferred tax valuation allowances, projected benefit obligations for postretirement plans, accounting for business combinations, goodwill and other intangible asset impairment testing, environmental liabilities and assets, allowance for credit losses and inventory valuation. Actual results could differ from these estimates. ITT’s quarterly financial periods end on the Saturday that is closest to the last day of the calendar quarter, except for the last quarterly period of the fiscal year, which ends on December 31st. ITT’s third quarter for 2023 and 2022 ended on September 30, 2023 and October 1, 2022, respectively. Certain prior year amounts have been reclassified to conform to the current year presentation.

PLANT, PROPERTY AND EQUIPMENT, NET (Details) - Estimated Useful Lives	Sep. 30, 2023
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	2 years
Minimum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Minimum [Member] \| Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Maximum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Maximum [Member] \| Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, shares authorized	250.0
Common stock, par value	$ 1
Common stock, shares issued	82.1	82.7
Common stock, shares outstanding	82.1	82.7

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from the exercise of stock options	$ 0.6	$ 1.8
Equity Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 30.7
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 10 months 24 days
Liability Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 2.5
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vested during period	0.1	0.1
Performance Stock Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vested during period	0.1	0.1

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS	Sep. 30, 2023
Recent Accounting Pronouncements [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS The Company considers the applicability and impact of all accounting standard updates (ASUs). ASUs not listed below were assessed and determined to be either not applicable or are not expected to have a material impact on our consolidated condensed financial statements. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquiror on the acquisition date in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (ASC 606), as if it had originated the contracts. Under the previous guidance, such assets and liabilities were recognized by the acquiror at fair value as of the acquisition date. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022. Early adoption is permitted. We have adopted and applied this guidance in connection with the Habonim and Micro-Mode acquisitions. The adoption of this guidance did not have a significant impact on our operating results, financial position, or cash flows.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2023

Derivatives and Fair Value

DERIVATIVE FINANCIAL INSTRUMENTS

The Company is exposed to various market risks relating to its ongoing business operations. From time to time, we use derivative financial instruments to mitigate our exposure to certain of these risks, including foreign exchange rate and commodity price fluctuations. By using derivatives, the Company is further exposed to credit risk. Our exposure to credit risk includes the counterparty’s failure to fulfill its financial obligations under the terms of the derivative contract. The Company attempts to minimize its exposure by avoiding concentration risk among its counterparties and by entering into transactions with creditworthy counterparties.

Foreign Currency Derivative Contracts

The Company enters into foreign currency forward or option contracts to mitigate foreign currency risk associated with transacting with international customers, suppliers, and subsidiaries. The notional amounts and fair values of our outstanding foreign currency derivative contracts, which are recorded within Other current assets in our Consolidated Condensed Balance Sheets, were as follows:


As of the Period Ended	September 30, 2023		December 31, 2022
Notional amount (U.S. dollar equivalent)	$	43.6	$	136.5
Fair value of foreign currency derivative contracts(a)	$	1.2	$	1.7

(a) Our foreign currency derivative contracts are classified within Level 2 of the fair value hierarchy because these contracts are not actively traded and the valuation inputs are based on market observable data of similar instruments.

Gains or losses arising from changes in fair value of our foreign currency derivative contracts are recorded within General and administrative expenses in our Consolidated Condensed Statements of Operations, and were as follows:


	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
(Loss) gain on foreign currency derivative contracts(b)	$	(1.4)	$	1.8	$	(4.6)	$	7.3

(b) None of our derivative contracts were designated as hedging instruments under ASC 815 - Derivatives & Hedging.

The cash flow impact upon settlement of our foreign currency derivative contracts is included in operating activities in our Consolidated Condensed Statements of Cash Flows. During the nine months ended September 30, 2023 and October 1, 2022, net cash inflows from foreign currency derivative contracts were $2.4 and $2.1, respectively.

PLANT, PROPERTY AND EQUIPMENT, NET - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 21.8	$ 19.4	$ 62.9	$ 61.4

RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2023
Recent Acconting Pronouncements [Abstract]
Recently Adopted Accounting Pronouncements	In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquiror on the acquisition date in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (ASC 606), as if it had originated the contracts. Under the previous guidance, such assets and liabilities were recognized by the acquiror at fair value as of the acquisition date. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022. Early adoption is permitted. We have adopted and applied this guidance in connection with the Habonim and Micro-Mode acquisitions. The adoption of this guidance did not have a significant impact on our operating results, financial position, or cash flows.

Document and Entity Information - shares shares in Millions	9 Months Ended
Document and Entity Information - shares shares in Millions	Sep. 30, 2023	Oct. 31, 2023
Cover [Abstract]
Entity Registrant Name	ITT INC.
Document Type	10-Q
Document Period End Date	Sep. 30, 2023
Document Quarterly Report	true
Document Transition Report	false
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity File Number	001-05672
Entity Central Index Key	0000216228
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	81-1197930
Entity Address, Address Line One	100 Washington Boulevard
Entity Address, Address Line Two	6th Floor
Entity Address, City or Town	Stamford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06902
City Area Code	(914)
Local Phone Number	641-2000
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	ITT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		82.1

OTHER CURRENT AND NON-CURRENT ASSETS

9 Months Ended

Sep. 30, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

OTHER CURRENT AND NON-CURRENT ASSETS

The following table summarizes our other current and non-current assets.


As of the Period Ended	September 30, 2023		December 31, 2022

Advance payments and other prepaid expenses	$	44.6	$	45.0
Current contract assets, net	24.8		26.3
Prepaid income taxes	13.3		25.1

Other	19.7		16.5
Other current assets	$	102.4	$	112.9
Other employee benefit-related assets	$	125.3	$	119.8
Operating lease right-of-use assets(a)	83.4		73.8
Deferred income taxes(b)	71.9		54.7
Equity-method and other investments	45.7		42.9
Capitalized software costs	9.1		12.4
Environmental-related assets	7.0		9.6
Other	31.1		25.9
Other non-current assets	$	373.5	$	339.1

(a) The increase in the operating lease right-of-use asset balance from December 31, 2022 to September 30, 2023 is primarily driven by the renewal of an operating facility lease in Irvine, California and by the current period acquisition of Micro-Mode.

(b) The increase in deferred income taxes from December 31, 2022 to September 30, 2023 is primarily due to benefits of $16.5 from valuation allowance reversals on deferred tax assets in Germany.

EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share Table

The following table provides a reconciliation of the data used in the calculation of basic and diluted earnings per share from continuing operations attributable to ITT.


	Three Months Ended		Nine Months Ended
	September 30, 2023	October 1, 2022	September 30, 2023	October 1, 2022
Basic weighted average common shares outstanding	82.1	82.7	82.4	83.6
Add: Dilutive impact of outstanding equity awards	0.4	0.3	0.3	0.3
Diluted weighted average common shares outstanding	82.5	83.0	82.7	83.9

Anti-dilutive shares(a)	—	—	0.1	—

(a) Anti-dilutive shares related to equity stock unit awards excluded from the computation of diluted earnings per share.

DEBT Debt (Details) - USD ($)
$ in Millions

Sep. 30, 2023

Dec. 31, 2022

Debt Disclosure [Abstract]

Commercial paper

$ 242.7

$ 448.3

Current maturities of long-term debt and finance leases

2.2

Other short-term notes payable

0.5

Commercial paper and current maturities of long-term debt

245.4

451.0

Non-current maturities of long-term debt(a)

^[1]

6.5

7.7

Total debt and finance leases

$ 251.9

$ 458.7

[1]	Our long-term debt is primarily related to outstanding Italian government loans.

INVENTORIES, NET Textuals (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
INVENTORIES, NET Textuals (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2023	Oct. 01, 2022
Italian Government Energy Subsidy Grant		$ 6.3
RUSSIAN FEDERATION
Inventory Write-down	$ 1.6		$ 5.6

Derivative Instruments and Hedging Activities (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2023

Oct. 01, 2022

Sep. 30, 2023

Oct. 01, 2022

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional amount (U.S. dollar equivalent)

$ 43.6

$ 136.5

Fair value of foreign currency derivative contracts(a)

^[1]

1.2

$ 1.7

Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net

^[2]

$ (1.4)

$ 1.8

(4.6)

$ 7.3

Cash inflow (outflow) from settlement of foreign currency derivative contracts

$ 2.4

$ 2.1

[1]	Our foreign currency derivative contracts are classified within Level 2 of the fair value hierarchy because these contracts are not actively traded and the valuation inputs are based on market observable data of similar instruments.
[2]	None of our derivative contracts were designated as hedging instruments under ASC 815 - Derivatives & Hedging.

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company’s segments are reported on the same basis used by our Chief Executive Officer, who is also our chief operating decision maker, for evaluating performance and for allocating resources. Our three reportable segments are referred to as Motion Technologies, Industrial Process, and Connect & Control Technologies.

Motion Technologies manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation markets.

Industrial Process manufactures engineered fluid process equipment serving a diversified mix of customers in global industries such as chemical, energy, mining, and other industrial process markets and is a provider of plant optimization and efficiency solutions and aftermarket services and parts.

Connect & Control Technologies manufactures harsh-environment connector solutions, critical energy absorption, flow control components, and composite materials for the aerospace and defense, general industrial, medical, and energy markets.

Assets of our reportable segments exclude general corporate assets, which principally consist of cash, investments, deferred taxes, and certain property, plant and equipment. These assets are included within Corporate and Other, which is described further below.

Corporate and Other consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs, as well as charges related to certain matters, including environmental liabilities, that are managed at a corporate level and are not included in segment results when evaluating performance or allocating resources. In addition, Corporate and Other includes research and development-related expenses associated with a subsidiary that does not constitute a reportable segment.

The following table presents our revenue, operating income, and operating margin for each segment.


	Revenue				Operating Income				Operating Margin
For the Three Months Ended	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Motion Technologies	$	359.5	$	342.2	$	59.4	$	54.0	16.5	%	15.8	%
Industrial Process	279.8		248.5		64.7		48.1		23.1	%	19.4	%
Connect & Control Technologies	184.0		163.2		33.2		30.3		18.0	%	18.6	%
Eliminations	(1.2)		(0.3)		—		—		—		—
Total segment results	822.1		753.6		157.3		132.4		19.1	%	17.6	%


Corporate and Other	—		—		(14.2)		(10.4)		—		—
Total	$	822.1	$	753.6	$	143.1	$	122.0	17.4	%	16.2	%


	Revenue				Operating Income				Operating Margin
For the Nine Months Ended	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Motion Technologies	$	1,093.1	$	1,043.6	$	170.5	$	160.7	15.6	%	15.4	%
Industrial Process	839.9		690.3		186.4		107.6		22.2	%	15.6	%
Connect & Control Technologies	523.8		481.0		91.0		84.2		17.4	%	17.5	%
Eliminations	(2.9)		(1.8)		—		—		—		—
Total segment results	2,453.9		2,213.1		447.9		352.5		18.3	%	15.9	%

Corporate and Other	—		—		(38.5)		(35.4)		—		—

Total	$	2,453.9	$	2,213.1	$	409.4	$	317.1	16.7	%	14.3	%

The following table presents our total assets, capital expenditures, and depreciation & amortization expense for each segment.


As of and for the Nine Months Ended	Total Assets				Capital Expenditures				Depreciation & Amortization
	September 30, 2023		December 31, 2022		September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Motion Technologies	$	1,309.0	$	1,311.9	$	44.9	$	52.6	$	49.3	$	45.5
Industrial Process	1,269.9		1,218.6		10.6		7.4		16.7		19.0
Connect & Control Technologies	858.5		751.6		11.7		9.4		14.9		14.3
Corporate and Other	364.9		498.2		1.3		4.3		1.9		2.7
Total	$	3,802.3	$	3,780.3	$	68.5	$	73.7	$	82.8	$	81.5

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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RECEIVABLES, NET - (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade accounts receivable	$ 655.6	$ 614.0
Notes receivable	19.1	8.2
Other	13.6	18.3
Receivables, gross	688.3	640.5
Less: Allowance for credit losses - receivables	(14.3)	(11.7)
Receivables, net	$ 674.0	$ 628.8

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Changes in the Carrying Amount of Goodwill (Detail)
$ in Millions

9 Months Ended

Sep. 30, 2023

USD ($)

$ 964.8

45.7

(2.4)

(7.0)

1,001.1

Motion Technologies

287.7

0.0

0.0

(0.4)

287.3

Industrial Process

398.7

0.0

0.0

(6.2)

Connect & Control Technologies

392.5

278.4

45.7

(2.4)

^[1]

(0.4)

$ 321.3

[1]

During the second quarter of 2023, we completed the sale of a product line within our CCT segment to a third party for $10.5. The Company determined that the product line met the definition of a business per ASC 805, Business Combinations. As a result of the transaction, we recognized a gain on sale of $7.2, which is included in the General and administrative expenses line on our Consolidated Statements of Operations for the nine months ended September 30, 2023. Goodwill of $2.4 was allocated to the divestiture

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

INCOME TAXES

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

The following table summarizes our income tax expense and effective tax rate.


	Three Months Ended						Nine Months Ended
	September 30, 2023			October 1, 2022			September 30, 2023			October 1, 2022
Income tax expense	$	29.9		$	16.4		$	80.6		$	59.9
Effective tax rate	21.1		%	13.7		%	20.0		%	19.0		%

The effective tax rate (ETR) for the three months ended September 30, 2023 was higher than the prior year as ITT recognized benefits of $1.7 from a valuation allowance reversal on deferred tax assets in Italy in the prior year. For the nine months ended September 30, 2023, the ETR was relatively consistent with that of the prior year, and included benefits of $16.5 from valuation allowance reversals on deferred tax assets in Germany and $4.7 from filing an amended 2017 consolidated federal tax return. These benefits were partially offset by an expense of $14.3 relating to an Italian tax audit settlement covering tax years 2016-2022.

The Company operates in various tax jurisdictions and is subject to examination by tax authorities in these jurisdictions. The Company is currently under examination in several jurisdictions including China, Czechia, Germany, India, Italy, and the U.S. The estimated tax liability calculation for unrecognized tax benefits considers uncertainties in the application of complex tax laws and regulations in various tax jurisdictions. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate of the unrecognized tax benefit. Over the next 12 months, the net amount of the tax liability for unrecognized tax benefits in foreign and domestic jurisdictions could decrease by approximately $0.7 due to changes in audit status, expiration of statutes of limitations and other events.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Business Combination Disclosure [Text Block]

ACQUISITIONS Acquisitions (Notes)

9 Months Ended

Sep. 30, 2023

Acquisitions [Abstract]

ACQUISITIONS AND INVESTMENTS

Acquisition of Micro-Mode Products, Inc. (Micro-Mode)

On May 2, 2023, we completed the acquisition of Micro-Mode for a purchase price of $79.3, net of cash acquired. Micro-Mode is a specialty designer and manufacturer of high-bandwidth radio frequency (RF) connectors for harsh environment defense and space applications. Micro-Mode has a single manufacturing site near San Diego, California and generated approximately $26 in sales in 2022. Subsequent to the acquisition, Micro-Mode’s results have been reported within our CCT segment.

The primary areas of the purchase price allocations that are not yet finalized relate to the valuation of certain tangible and intangible assets, liabilities, income tax, and residual goodwill, which represents the excess of the purchase price over the fair value of the net tangible and other intangible assets acquired. We expect to obtain the information necessary to finalize the fair value of the net assets and liabilities during the measurement period, not to exceed one year from the acquisition date. Changes to the preliminary estimates of the fair value during the measurement period will be recorded as adjustments to those assets and liabilities with a corresponding adjustment to goodwill in the period they occur. The goodwill arising from this acquisition is not expected to be deductible for income tax purposes.


Preliminary Allocation of Purchase Price
Receivables	$	2.7
Inventory	5.6
Plant, property and equipment	6.0
Goodwill	45.7
Other intangible assets	28.7
Other assets	0.3
Accounts payable and accrued liabilities	(2.3)
Other liabilities	(7.4)
Net assets acquired	$	79.3

Pro forma results of operations have not been presented because the acquisition was not deemed significant as of the acquisition date.

Acquisition of Habonim Industrial Valves and Actuators Ltd (Habonim)

On April 4, 2022, we completed the acquisition of 100% of the privately held stock of Habonim for a purchase price of $139.9. Habonim is a designer and manufacturer of valves, valve automation and actuation for gas distribution (including liquified natural gas), biotech and harsh application service sectors. Habonim sells directly to original equipment manufacturers and integrators for customized solutions. Habonim has operations in Israel, the U.S., and the Netherlands, and has a workforce of approximately 200 employees. Subsequent to the acquisition, Habonim’s results have been reported within our IP segment. The allocation of the purchase price to the assets acquired and liabilities assumed was completed as of April 1, 2023.

Investments in CRP Technology and CRP USA (CRP)

During the second quarter of 2022, we purchased a minority investment of 46% in CRP Technology Srl and 33% in CRP USA LLC (collectively "CRP") for $23.0. CRP is a manufacturer of reinforced composite materials for 3D printing for the aerospace, defense, premium automotive, and motorsports industries. CRP's Windform® high-performance materials enable engineers to develop complex, customized designs while providing lightweight and exceptionally durable products. In May 2023, ITT purchased an additional 9% share of CRP USA LLC for $1.4. This additional investment brings ITT’s direct share ownership in CRP USA LLC to 42% as of July 1, 2023. The CRP investments are accounted for as equity method investments.

Other

During the second quarter of 2022, we purchased all production assets and proprietary technology related to an energy absorption product line for high-cycle applications in industrial automation. The product line was acquired for $7.0 from Clippard Instrument Laboratory, Inc., which is a U.S. manufacturer of electronic and pneumatic components. These assets are included within the CCT segment.

Subsequent Event

On November 1, 2023, we signed an agreement to acquire 100% of the outstanding shares of privately held Svanehøj Group A/S (Svanehøj), a Denmark-based supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector, for approximately $395, based on current DKK to USD exchange rate and subject to customary closing adjustments. The transaction is expected to close in the first quarter of 2024, subject to the receipt of customary regulatory approvals. Svanehøj will become part of our IP segment. Svanehøj employs approximately 400 employees and has operations in Denmark, Singapore and France. The company generated approximately $140 in sales in 2022.

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

The following table provides a rollforward of the carrying amount of goodwill by segment.


	Motion Technologies		Industrial Process		Connect & Control Technologies		Total
Goodwill - December 31, 2022	$	287.7	$	398.7	$	278.4	$	964.8
Acquired	—		—		45.7		45.7

Allocated to divestiture of business(a)	—		—		(2.4)		(2.4)
Foreign exchange translation	(0.4)		(6.2)		(0.4)		(7.0)
Goodwill - September 30, 2023	$	287.3	$	392.5	$	321.3	$	1,001.1

(a) During the second quarter of 2023, we completed the sale of a product line within our CCT segment to a third party for $10.5. The Company determined that the product line met the definition of a business per ASC 805, Business Combinations. As a result of the transaction, we recognized a gain on sale of $7.2, which is included in the General and administrative expenses line on our Consolidated Statements of Operations for the nine months ended September 30, 2023. Goodwill of $2.4 was allocated to the divestiture.

Other Intangible Assets, Net

The following table summarizes our other intangible assets, net of accumulated amortization.


	September 30, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Intangibles		Gross Carrying Amount		Accumulated Amortization		Net Intangibles
Customer relationships	$	207.7	$	(138.0)	$	69.7	$	191.5	$	(127.1)	$	64.4
Proprietary technology	60.8		(31.1)		29.7		59.2		(30.8)		28.4
Patents and other	22.1		(17.2)		4.9		17.6		(16.6)		1.0
Finite-lived intangible total	290.6		(186.3)		104.3		268.3		(174.5)		93.8
Indefinite-lived intangibles	18.7		—		18.7		19.0		—		19.0
Other intangible assets	$	309.3	$	(186.3)	$	123.0	$	287.3	$	(174.5)	$	112.8

The following table summarizes our amortization expense related to finite-lived intangible assets.


	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Amortization expense	$	5.6	$	5.3	$	15.4	$	15.3

The preliminary fair values of intangible assets acquired in connection with the purchase of Micro-Mode total $28.7 and consist of the following:


	Useful life (in years)	Fair value
Customer relationships	20	$	18.5
Developed technology	20	5.5
Trade name	20	2.3
Backlog	<2	1.9
Other	10	0.5
Total intangible assets acquired		$	28.7

Refer to Note 18, Acquisitions and Investments, for further information.

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES

9 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES

ACCRUED AND OTHER CURRENT AND NON-CURRENT LIABILITIES

The following table summarizes our accrued liabilities and other non-current liabilities.


As of the Period Ended	September 30, 2023		December 31, 2022
Compensation and other employee-related benefits	$	157.7	$	134.4
Contract liabilities and other customer-related liabilities	116.4		92.2
Accrued income taxes and other tax-related liabilities	37.7		27.1
Operating lease liabilities	18.1		19.0
Accrued warranty costs	13.8		14.3
Environmental liabilities and other legal matters	6.6		5.7
Accrued restructuring costs	2.7		3.9
Other	37.5		36.8
Accrued and other current liabilities	$	390.5	$	333.4
Operating lease liabilities(a)	$	69.6	$	58.9
Environmental liabilities	51.0		53.1
Deferred income taxes and other tax-related liabilities	28.6		31.1
Compensation and other employee-related benefits	27.0		25.0
Non-current maturities of long-term debt	6.5		7.7
Other	24.4		24.4
Other non-current liabilities	$	207.1	$	200.2

(a) The increase in the non-current operating lease liabilities balance from December 31, 2022 to September 30, 2023 is primarily driven by the renewal of an operating facility lease in Irvine, California, and by the current period acquisition of Micro-Mode.

DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION AND UPDATES TO SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business ITT Inc. is a diversified manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. Unless the context otherwise indicates, references herein to “ITT,” “the Company,” and such words as “we,” “us,” and “our” include ITT Inc. and its subsidiaries. ITT operates through three reportable segments: Motion Technologies (MT), consisting of friction and shock and vibration equipment; Industrial Process (IP), consisting of industrial flow equipment and services; and Connect & Control Technologies (CCT), consisting of electronic connectors, fluid handling, motion control, composite materials and noise and energy absorption products. Financial information for our segments is presented in Note 3, Segment Information. Business Combination On May 2, 2023, we completed the acquisition of Micro-Mode Products, Inc. (Micro-Mode) for a purchase price of $79.3, net of cash acquired. Subsequent to the acquisition, Micro-Mode’s results are reported within our CCT segment. Refer to Note 18, Acquisitions and Investments, for more information. Russia-Ukraine War In February 2022, the United States and other leading nations announced targeted economic sanctions on Russia and certain Russian citizens in response to Russia’s war with Ukraine, which has increased regional instability and global economic and political uncertainty. During the three and nine months ended September 30, 2023, we recorded total pre-tax charges of $0.5 and $3.7, respectively, primarily related to accounts receivable and inventory write-downs due to the suspension of business in Russia. During the three and nine months ended October 1, 2022, we recorded total pre-tax charges of $0.3 and $8.2, respectively, related to impacts from the Russia-Ukraine war. For further discussion of risks stemming from the Russia-Ukraine war, see Part I, Item IA, “Risk Factors” in our 2022 Annual Report for the fiscal year ended December 31, 2022. Basis of Presentation The unaudited consolidated condensed financial statements have been prepared pursuant to the rules and regulations of the SEC and, in the opinion of management, reflect all known adjustments (which consist primarily of normal, recurring accruals, estimates and assumptions) necessary to state fairly the financial position, results of operations, and cash flows for the periods presented. The Consolidated Condensed Balance Sheet as of December 31, 2022, presented herein, has been derived from our audited balance sheet included in our Annual Report on Form 10-K (2022 Annual Report) for the year ended December 31, 2022, but does not include all disclosures required by accounting principles generally accepted in the United States (GAAP). We consistently applied the accounting policies described in the 2022 Annual Report in preparing these unaudited financial statements. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2022 Annual Report. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Estimates are revised as additional information becomes available. Estimates and assumptions are used for, but not limited to, revenue recognition, unrecognized tax benefits, deferred tax valuation allowances, projected benefit obligations for postretirement plans, accounting for business combinations, goodwill and other intangible asset impairment testing, environmental liabilities and assets, allowance for credit losses and inventory valuation. Actual results could differ from these estimates. ITT’s quarterly financial periods end on the Saturday that is closest to the last day of the calendar quarter, except for the last quarterly period of the fiscal year, which ends on December 31st. ITT’s third quarter for 2023 and 2022 ended on September 30, 2023 and October 1, 2022, respectively. Certain prior year amounts have been reclassified to conform to the current year presentation.

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022
Operating Activities
Income from continuing operations attributable to ITT Inc.	$ 319.0	$ 253.1
Adjustments to income from continuing operations:
Depreciation and amortization	82.8	81.5
Equity-based compensation	15.1	13.6
Gain on sale of business	(7.2)	0.0
Other non-cash charges, net	22.5	20.2
Changes in assets and liabilities:
Change in receivables	(54.7)	(120.8)
Change in inventories	(40.9)	(111.3)
Change in contract assets	0.5	(15.6)
Change in contract liabilities	11.1	24.4
Change in accounts payable	16.5	54.0
Change in accrued expenses	29.4	(30.6)
Change in income taxes	(2.1)	(12.1)
Other, net	(24.4)	(41.2)
Net Cash – Operating Activities	367.6	115.2
Investing Activities
Capital expenditures	(68.5)	(73.7)
Proceeds from Sales of Business, Affiliate and Productive Assets	10.5	0.0
Acquisitions, net of cash acquired	(79.3)	(146.9)
Payments to acquire interest in unconsolidated subsidiaries	(1.4)	(25.6)
Other, net	(3.3)	1.4
Net Cash – Investing Activities	(142.0)	(244.8)
Financing Activities
Commercial paper, net borrowings	(204.3)	363.1
Share repurchases under repurchase plan	(60.0)	(245.6)
Payments for taxes related to net share settlement of stock incentive plans	(6.7)	(8.5)
Dividends paid	(71.9)	(66.1)
Other, net	(2.3)	0.1
Net Cash – Financing Activities	(345.2)	43.0
Exchange rate effects on cash and cash equivalents	(10.4)	(46.3)
Net cash – operating activities of discontinued operations	(0.2)	(0.1)
Net change in cash and cash equivalents	(130.2)	(133.0)
Cash and cash equivalents – beginning of year (includes restricted cash of $0.7 and $0.8, respectively)	561.9	648.3
Cash and Cash Equivalents – End of Period (includes restricted cash of $0.9 and $0.8, respectively)	431.7	515.3
Cash paid during the year for:
Interest	12.3	5.7
Income taxes, net of refunds received	$ 72.0	$ 63.5

SEGMENT INFORMATION - Schedule of Segment Reporting Information by Segment Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Segment Reporting Information [Line Items]
Revenue	$ 822.1	$ 753.6	$ 2,453.9	$ 2,213.1
Operating income	$ 143.1	$ 122.0	$ 409.4	$ 317.1
Operating Margin	17.40%	16.20%	16.70%	14.30%
Total segment results
Segment Reporting Information [Line Items]
Revenue	$ 822.1	$ 753.6	$ 2,453.9	$ 2,213.1
Operating income	$ 157.3	$ 132.4	$ 447.9	$ 352.5
Operating Margin	19.10%	17.60%	18.30%	15.90%
Motion Technologies
Segment Reporting Information [Line Items]
Revenue	$ 359.5	$ 342.2	$ 1,093.1	$ 1,043.6
Operating income	$ 59.4	$ 54.0	$ 170.5	$ 160.7
Operating Margin	16.50%	15.80%	15.60%	15.40%
Industrial Process
Segment Reporting Information [Line Items]
Revenue	$ 279.8	$ 248.5	$ 839.9	$ 690.3
Operating income	$ 64.7	$ 48.1	$ 186.4	$ 107.6
Operating Margin	23.10%	19.40%	22.20%	15.60%
Connect & Control Technologies
Segment Reporting Information [Line Items]
Revenue	$ 184.0	$ 163.2	$ 523.8	$ 481.0
Operating income	$ 33.2	$ 30.3	$ 91.0	$ 84.2
Operating Margin	18.00%	18.60%	17.40%	17.50%
Eliminations
Segment Reporting Information [Line Items]
Revenue	$ (1.2)	$ (0.3)	$ (2.9)	$ (1.8)
Total Corporate and Other costs
Segment Reporting Information [Line Items]
Revenue	0.0	0.0
Operating income	$ (14.2)	$ (10.4)
Operating Margin	0.00%	0.00%
Corporate and Other
Segment Reporting Information [Line Items]
Operating income			$ (38.5)	$ (35.4)
Operating Margin			0.00%	0.00%

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Carrying Amount of Goodwill Table

The following table provides a rollforward of the carrying amount of goodwill by segment.


	Motion Technologies		Industrial Process		Connect & Control Technologies		Total
Goodwill - December 31, 2022	$	287.7	$	398.7	$	278.4	$	964.8
Acquired	—		—		45.7		45.7

Allocated to divestiture of business(a)	—		—		(2.4)		(2.4)
Foreign exchange translation	(0.4)		(6.2)		(0.4)		(7.0)
Goodwill - September 30, 2023	$	287.3	$	392.5	$	321.3	$	1,001.1

Other Intangible Assets Table

Other Intangible Assets, Net

The following table summarizes our other intangible assets, net of accumulated amortization.


	September 30, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Intangibles		Gross Carrying Amount		Accumulated Amortization		Net Intangibles
Customer relationships	$	207.7	$	(138.0)	$	69.7	$	191.5	$	(127.1)	$	64.4
Proprietary technology	60.8		(31.1)		29.7		59.2		(30.8)		28.4
Patents and other	22.1		(17.2)		4.9		17.6		(16.6)		1.0
Finite-lived intangible total	290.6		(186.3)		104.3		268.3		(174.5)		93.8
Indefinite-lived intangibles	18.7		—		18.7		19.0		—		19.0
Other intangible assets	$	309.3	$	(186.3)	$	123.0	$	287.3	$	(174.5)	$	112.8

Finite-Lived Intangible Assets Amortization Expense

The following table summarizes our amortization expense related to finite-lived intangible assets.


	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Amortization expense	$	5.6	$	5.3	$	15.4	$	15.3

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The preliminary fair values of intangible assets acquired in connection with the purchase of Micro-Mode total $28.7 and consist of the following:


	Useful life (in years)	Fair value
Customer relationships	20	$	18.5
Developed technology	20	5.5
Trade name	20	2.3
Backlog	<2	1.9
Other	10	0.5
Total intangible assets acquired		$	28.7

Refer to Note 18, Acquisitions and Investments, for further information.

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

Derivative Instruments and Hedging Activities Disclosure [Abstract]

INVENTORIES, NET (Tables)

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Inventories, Net Table

The following table summarizes our inventories.


As of the Period Ended	September 30, 2023		December 31, 2022
Raw materials	$	379.8	$	342.7
Work in process	113.0		104.6
Finished goods	81.5		86.6
Inventories(a)	$	574.3	$	533.9

(a) We recorded inventory write-downs of $1.6 and $5.6 related to inventories held by entities impacted by the Russia-Ukraine war during the nine months ended September 30, 2023 and October 1, 2022, respectively. See Note 1, Description of Business and Basis of Presentation, for further information.

Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2023

Open Forward Foreign Currency Contract

The notional amounts and fair values of our outstanding foreign currency derivative contracts, which are recorded within Other current assets in our Consolidated Condensed Balance Sheets, were as follows:


As of the Period Ended	September 30, 2023		December 31, 2022
Notional amount (U.S. dollar equivalent)	$	43.6	$	136.5
Fair value of foreign currency derivative contracts(a)	$	1.2	$	1.7


	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
(Loss) gain on foreign currency derivative contracts(b)	$	(1.4)	$	1.8	$	(4.6)	$	7.3

(b) None of our derivative contracts were designated as hedging instruments under ASC 815 - Derivatives & Hedging.

COMMITMENTS AND CONTINGENCIES Environmental Matters Textuals (Details)
$ in Millions

9 Months Ended

Sep. 30, 2023

USD ($)

site

Oct. 01, 2022

USD ($)

site

Discontinued operations(a)

$ 11.0

$ 14.6

Change in estimates for pre-existing accruals:

$ 0.0

5.4

^[1]

Environmental Related Matters [Member]

$ 4.3

Number Of Active Environmental Investigation And Remediation Sites | site

Maximum [Member] | Environmental Related Matters [Member]

Loss Contingency, Range of Possible Loss, Maximum

$ 89.0

$ 98.0

[1]

During the nine months ended October 1, 2022, we increased the estimated environmental liability for a former site of ITT by $5.4 and recognized an insurance-related asset of $4.3. The resulting net pre-tax expense of $1.1 has been presented as a loss from discontinued operations within the Consolidated Condensed Statements of Operations.

ACQUISITIONS Acquisitions (Tables)

9 Months Ended

Sep. 30, 2023

Acquisitions [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed


Preliminary Allocation of Purchase Price
Receivables	$	2.7
Inventory	5.6
Plant, property and equipment	6.0
Goodwill	45.7
Other intangible assets	28.7
Other assets	0.3
Accounts payable and accrued liabilities	(2.3)
Other liabilities	(7.4)
Net assets acquired	$	79.3

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Income Statement [Abstract]
Revenue	$ 822.1	$ 753.6	$ 2,453.9	$ 2,213.1
Cost of revenue	542.7	520.2	1,632.6	1,539.1
Gross profit	279.4	233.4	821.3	674.0
General and administrative expenses	66.9	47.5	203.6	164.9
Sales and marketing expenses	44.4	39.5	131.2	118.3
Research and development expenses	25.0	24.4	77.1	73.7
Operating income	143.1	122.0	409.4	317.1
Interest and non-operating expense, net	1.4	2.3	7.4	2.6
Income from continuing operations before income tax expense	141.7	119.7	402.0	314.5
Income tax expense	29.9	16.4	80.6	59.9
Income from continuing operations	111.8	103.3	321.4	254.6
Loss from discontinued operations, net of tax benefit of $0.0, $(0.1), $0.0, and $0.3, respectively	0.0	(0.1)	0.0	(1.3)
Net income	111.8	103.2	321.4	253.3
Less: Income attributable to noncontrolling interests	1.0	0.8	2.4	1.5
Net income attributable to ITT Inc.	110.8	102.4	319.0	251.8
Amounts attributable to ITT Inc.:
Income from continuing operations	110.8	102.5	319.0	253.1
Loss from discontinued operations, net of tax	0.0	(0.1)	0.0	(1.3)
Net income attributable to ITT Inc.	$ 110.8	$ 102.4	$ 319.0	$ 251.8
Basic:
Continuing operations	$ 1.35	$ 1.24	$ 3.87	$ 3.03
Discontinued operations	0	0	0	(0.02)
Earnings Per Share, Basic, Total	1.35	1.24	3.87	3.01
Diluted:
Continuing operations	1.34	1.23	3.86	3.02
Discontinued operations	0	0	0	(0.02)
Earnings Per Share, Diluted, Total	$ 1.34	$ 1.23	$ 3.86	$ 3.00
Weighted average common shares – basic	82.1	82.7	82.4	83.6
Weighted average common shares – diluted	82.5	83.0	82.7	83.9

ACQUISITIONS Subsequent Event (Details) - USD ($) $ in Millions		9 Months Ended
	Nov. 01, 2023	Sep. 30, 2023	Oct. 01, 2022
Subsequent Event [Line Items]
Acquisitions, net of cash acquired		$ 79.3	$ 146.9
Subsequent Event [Member]
Subsequent Event [Line Items]
Subsequent Event, Date	Nov. 01, 2023
Subsequent Event, Description	we signed an agreement to acquire 100% of the outstanding shares of privately held Svanehøj Group A/S (Svanehøj), a Denmark-based supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector,
Subsequent Event [Member] \| Svanehoj
Subsequent Event [Line Items]
Acquisitions, net of cash acquired	$ 395.0
Revenue of Acquired Entity for Last Annual Period	$ 140.0

PLANT, PROPERTY AND EQUIPMENT, NET (Tables)

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Plant, Property and Equipment, Net Table

The following table summarizes our property, plant, and equipment, net of accumulated depreciation.


	Useful life (in years)	September 30, 2023		December 31, 2022
Machinery and equipment	2 - 10	$	1,267.4	$	1,208.3
Buildings and improvements	5 - 40	286.8		277.6
Furniture, fixtures and office equipment	3 - 7	81.0		80.5
Construction work in progress		62.0		86.9
Land and improvements		28.5		29.3
Other		2.9		3.3
Plant, property and equipment, gross		1,728.6		1,685.9
Less: Accumulated depreciation		(1,205.4)		(1,159.1)
Plant, property and equipment, net		$	523.2	$	526.8

The following table summarizes our depreciation expense.


	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Depreciation expense	$	21.8	$	19.4	$	62.9	$	61.4

RECEIVABLES, NET

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

RECEIVABLES, NET

RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES

The following table summarizes our receivables and associated allowance for credit losses.


As of the Period Ended	September 30, 2023		December 31, 2022
Trade accounts receivable	$	655.6	$	614.0
Notes receivable	19.1		8.2
Other	13.6		18.3
Receivables, gross	688.3		640.5
Less: Allowance for credit losses - receivables	(14.3)		(11.7)
Receivables, net	$	674.0	$	628.8


As of the Period Ended	September 30, 2023		December 31, 2022
Allowance for credit losses - receivables	$	14.3	$	11.7
Allowance for credit losses - contract assets	—		0.5
Total allowance for credit losses	$	14.3	$	12.2

The following table displays a rollforward of our total allowance for credit losses.


	September 30, 2023		October 1, 2022
Total allowance for credit losses - January 1	$	12.2	$	12.5

Charges to income(a)	3.4		2.5
Write-offs	(1.2)		(1.1)
Foreign currency and other	(0.1)		(0.5)
Total allowance for credit losses - ending balance	$	14.3	$	13.4

RECEIVABLES, NET Allowance for Credit Losses Rollforward (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2023

Oct. 01, 2022

Credit Loss [Abstract]

Total allowance for credit losses - January 1

$ 12.2

$ 12.5

Charges to income(a)

^[1]

3.4

2.5

Write-offs

(1.2)

(1.1)

Foreign currency and other

(0.1)

(0.5)

Total allowance for credit losses - ending balance

$ 14.3

$ 13.4

[1]	We recognized bad debt expense of $1.2 relating to impacts stemming from the Russia-Ukraine war during each of the nine months ended September 30, 2023 and October 1, 2022. See Note 1, Description of Business and Basis of Presentation, for further information.

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical)) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent	$ (0.3)	$ (3.4)	$ 1.8	$ (3.1)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	0.4	0.3	(1.1)	(0.9)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax	0.1	(0.1)	0.1	(0.4)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax	$ (0.6)	(1.8)	$ (0.6)	(1.8)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Tax		$ (1.9)		$ (1.9)

ACQUISITIONS Equity Method Investments - CRP (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Oct. 01, 2022 USD ($)	Sep. 30, 2023 USD ($)	Oct. 01, 2022 USD ($)	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Payments to acquire interest in unconsolidated subsidiaries			$ 1,400	$ 25,600
Minority Investment in CRP Technology Srl
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage					46.00%
Minority Investment in CRP USA LLC
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage					33.00%
Minority Investment in CRP
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	4200.00%		4200.00%
Equity method investment, increase in ownership percentage	9
Minority Investment in CRP
Schedule of Equity Method Investments [Line Items]
Payments to acquire interest in unconsolidated subsidiaries		$ 23,000
Minority Investment in CRP USA LLC
Schedule of Equity Method Investments [Line Items]
Payments to acquire interest in unconsolidated subsidiaries	$ 1,400

EARNINGS PER SHARE

3 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE DATA

The following table provides a reconciliation of the data used in the calculation of basic and diluted earnings per share from continuing operations attributable to ITT.


	Three Months Ended		Nine Months Ended
	September 30, 2023	October 1, 2022	September 30, 2023	October 1, 2022
Basic weighted average common shares outstanding	82.1	82.7	82.4	83.6
Add: Dilutive impact of outstanding equity awards	0.4	0.3	0.3	0.3
Diluted weighted average common shares outstanding	82.5	83.0	82.7	83.9

Anti-dilutive shares(a)	—	—	0.1	—

(a) Anti-dilutive shares related to equity stock unit awards excluded from the computation of diluted earnings per share.

RECEIVABLES, NET Allowance for Credit Losses (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Oct. 01, 2022	Dec. 31, 2021
Credit Loss [Abstract]
Allowance for credit losses - receivables	$ 14.3	$ 11.7
Allowance for credit losses - contract assets	0.0	0.5
Total allowance for credit losses	$ 14.3	$ 12.2	$ 13.4	$ 12.5

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Additional Information (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	May 02, 2023	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Business Combination [Abstract]
Acquisitions, net of cash acquired				$ 79.3	$ 146.9
Micro-Mode
Business Combination [Abstract]
Business Acquisition, Effective Date of Acquisition	May 02, 2023
Business Acquisition, Description of Acquired Entity	completed the acquisition of Micro-Mode Products, Inc. (Micro-Mode)
Acquisitions, net of cash acquired	$ 79.3
RUSSIAN FEDERATION
Russia-Ukraine Conflict [Abstract]
Asset impairment charges		$ 0.5	$ 0.3	$ 3.7	$ 8.2

INVENTORIES, NET

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES, NET

INVENTORIES

The following table summarizes our inventories.


As of the Period Ended	September 30, 2023		December 31, 2022
Raw materials	$	379.8	$	342.7
Work in process	113.0		104.6
Finished goods	81.5		86.6
Inventories(a)	$	574.3	$	533.9

Government Assistance (ASU 2021-10)

Since the start of the COVID-19 pandemic, energy prices have been increasing around the world, particularly in Europe. These increases have prompted governments to put in place measures to shield businesses and consumers from the direct impact of rising prices. These measures include granting subsidies to help offset the high energy prices.

ASU 2021-10 requires entities to provide information about the nature of transactions, related policies and effect of government grants on an entity’s financial statements. In particular, in Italy, to qualify for an energy subsidy a company must apply for and receive a certificate attesting that the company is an "energy and gas consuming company" (high energy consumption connected to the production cycle). The amount of subsidies granted is calculated based on a percentage of actual consumption, ranging from 20% to 45%. One of our Italian subsidiaries within our MT segment obtained this certificate and was granted energy subsidies from the Italian government beginning in April 2022. This program concluded in the second quarter of 2023. Accordingly, no energy subsidies were granted for the three months ended September 30, 2023. For the nine months ended September 30, 2023, we recognized a benefit of $6.3 related to energy subsidies, which we recorded within Costs of revenue in our Consolidated Condensed Statements of Operations. Energy subsidies for the three and nine months ended October 1, 2022 were not material. There was no other material government assistance received by the Company or any of our subsidiaries during the periods.

CAPITAL STOCK	9 Months Ended
CAPITAL STOCK	Sep. 30, 2023
Equity [Abstract]
CAPITAL STOCK	CAPITAL STOCK On October 30, 2019, the Board of Directors approved an indefinite term $500 open-market share repurchase program (the 2019 Plan). There were no open-market share repurchases during the three months ended September 30, 2023. During the nine months ended September 30, 2023, the Company repurchased and retired 0.7 shares of common stock for $60.5. During the three and nine months ended October 1, 2022, the Company repurchased and retired 0.1 and 3.0 shares of common stock for $4.4 and $245.3, respectively. On October 4, 2023, the Board of Directors approved an indefinite term $1,000 open-market share repurchase program (the 2023 Plan). Repurchases under this authorization will begin upon the completion of the 2019 Plan. As of September 30, 2023, there was $78.8 of remaining authorization left under the 2019 Plan. Separate from the open-market share repurchase program, the Company withholds shares of common stock in settlement of employee tax withholding obligations due upon the vesting of equity-based compensation awards. During the three and nine months ended September 30, 2023, the Company withheld a nominal amount and 0.1 shares of common stock for $0.3 and $6.7, respectively. During the three and nine months ended October 1, 2022, the Company withheld a nominal amount and 0.1 shares of common stock for $0.2 and $8.7, respectively.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
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-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Intangibles Textuals (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2023

Oct. 01, 2022

Sep. 30, 2023

Oct. 01, 2022

May 02, 2023

Amortization of Intangible Assets

$ 5,600

$ 5,300

$ 15,400

$ 15,300

Gain (Loss) on Disposition of Business

(2,400)

7,200

$ 0

Connect & Control Technologies

Proceeds from Divestiture of Businesses

^[1]

(2,400)

10,500

Gain (Loss) on Disposition of Business

$ 7,200

Micro-Mode

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Gross (Excluding Goodwill)

$ 28,700

Intangible Assets, Gross (Excluding Goodwill)

$ 28,700

[1]

EARNINGS PER SHARE DATA - Basic and Diluted Loss Per Share (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Earnings Per Share [Abstract]
Weighted average common shares – basic	82.1	82.7	82.4	83.6
Add: Dilutive impact of outstanding equity awards	0.4	0.3	0.3	0.3
Diluted weighted average common shares outstanding	82.5	83.0	82.7	83.9

ACQUISITIONS Acquisitions Textuals (Details) $ in Millions			3 Months Ended	9 Months Ended
ACQUISITIONS Acquisitions Textuals (Details) $ in Millions	May 02, 2023 USD ($)	Apr. 04, 2022 USD ($) Employees	Oct. 01, 2022 USD ($)	Sep. 30, 2023 USD ($)	Oct. 01, 2022 USD ($)
Business Acquisition [Line Items]
Acquisitions, net of cash acquired				$ 79.3	$ 146.9
Micro-Mode
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	May 02, 2023
Acquisitions, net of cash acquired	$ 79.3
Revenue of Acquired Entity for Last Annual Period	$ 26.0
Business Acquisition, Description of Acquired Entity	completed the acquisition of Micro-Mode Products, Inc. (Micro-Mode)
Habonim
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition		Apr. 04, 2022
Acquisitions, net of cash acquired		$ 139.9
Business Acquisition, Description of Acquired Entity		completed the acquisition of 100% of the privately held stock of Habonim
Number of Employees at Entity to be Acquired \| Employees		200
Clippard Instrument Laboratory
Business Acquisition [Line Items]
Acquisitions, net of cash acquired			$ 7.0

INCOME TAXES Income Tax Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 29.9	$ 16.4	$ 80.6	$ 59.9
Effective tax rate	21.10%	13.70%	20.00%	19.00%

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Revenue from Contract with Customer [Abstract]

REVENUE REVENUE

9 Months Ended

Sep. 30, 2023

Revenue Footnote

REVENUE

The following tables present our revenue disaggregated by end market.


For the Three Months Ended September 30, 2023	Motion Technologies		Industrial Process		Connect & Control Technologies		Eliminations		Total
Auto and rail	$	351.5	$	—	$	—	$	—	$	351.5
Chemical and industrial pumps	—		219.7		—		(0.1)		219.6
Aerospace and defense	2.0		—		99.2		—		101.2
General industrial	6.0		—		71.2		(1.1)		76.1
Energy	—		60.1		13.6		—		73.7
Total	$	359.5	$	279.8	$	184.0	$	(1.2)	$	822.1

For the Nine Months Ended September 30, 2023
Auto and rail	$	1,067.5	$	—	$	—	$	—	$	1,067.5
Chemical and industrial pumps	—		664.2		—		(0.1)		664.1
Aerospace and defense	5.9		—		280.2		—		286.1
General industrial	19.7		—		205.9		(2.8)		222.8
Energy	—		175.7		37.7		—		213.4
Total	$	1,093.1	$	839.9	$	523.8	$	(2.9)	$	2,453.9


For the Three Months Ended October 1, 2022
Auto and rail	$	333.1	$	—	$	—	$	—	$	333.1
Chemical and industrial pumps	—		187.9		—		—		187.9
General industrial	7.2		—		71.4		(0.3)		78.3
Aerospace and defense	1.9		—		80.5		—		82.4
Energy	—		60.6		11.3		—		71.9
Total	$	342.2	$	248.5	$	163.2	$	(0.3)	$	753.6

For the Nine Months Ended October 1, 2022
Auto and rail	$	1,013.8	$	—	$	—	$	—	$	1,013.8
Chemical and industrial pumps	—		551.7		—		—		551.7
General industrial	23.9		—		215.6		(1.8)		237.7
Aerospace and defense	5.9		—		233.7		—		239.6
Energy	—		138.6		31.7		—		170.3
Total	$	1,043.6	$	690.3	$	481.0	$	(1.8)	$	2,213.1

Contract Assets and Liabilities

Contract assets consist of unbilled amounts where revenue recognized exceeds customer billings, net of allowances for credit losses. Contract assets are included in other current assets and other non-current assets in our Consolidated Condensed Balance Sheets. Contract liabilities consist of advance customer payments and billings in excess of revenue recognized. Contract liabilities are included in accrued liabilities and other non-current liabilities in our Consolidated Condensed Balance Sheets.

The following table represents our net contract assets and liabilities.


As of the Period Ended	September 30, 2023		December 31, 2022
Current contract assets, net	$	24.8	$	26.3
Non-current contract assets, net	1.6		1.2
Current contract liabilities	(80.9)		(70.2)
Non-current contract liabilities	(4.4)		(4.4)
Net contract liabilities	$	(58.9)	$	(47.1)

During the three and nine months ended September 30, 2023, we recognized revenue of $8.2 and $48.3, related to contract liabilities as of December 31, 2022. The aggregate amount of the transaction price allocated to unsatisfied or partially satisfied performance obligations as of September 30, 2023 was $1,206.6. Of this amount, we expect to recognize approximately $500 to $520 of revenue during the remainder of 2023.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
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-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

Compensation and other employee-related benefits

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Other Intangible Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Finite-Lived Intangible Assets, Gross	$ 290.6	$ 268.3
Indefinite-lived intangibles	18.7	19.0
Other Intangible Assets, Gross Carrying Amount	309.3	287.3
Accumulated Amortization	(186.3)	(174.5)
Finite-live intangible asset, net of accumulated amortization	104.3	93.8
Other intangible assets	123.0	112.8
Customer relationships
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Customer relationships	207.7	191.5
Accumulated Amortization	(138.0)	(127.1)
Finite-live intangible asset, net of accumulated amortization	69.7	64.4
Developed technology
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Proprietary technology	60.8	59.2
Accumulated Amortization	(31.1)	(30.8)
Finite-live intangible asset, net of accumulated amortization	29.7	28.4
Patents and other
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Patents and Other, Gross Carrying Amount	22.1	17.6
Accumulated Amortization	(17.2)	(16.6)
Finite-live intangible asset, net of accumulated amortization	$ 4.9	$ 1.0

DEBT Commercial Paper - Table (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Short-term Debt [Line Items]
Commercial paper	$ 242.7	$ 448.3
UNITED STATES
Short-term Debt [Line Items]
Commercial paper	5.0	299.2
Europe [Member]
Short-term Debt [Line Items]
Commercial paper	$ 237.7	$ 149.1
Commercial Paper [Member] \| UNITED STATES
Short-term Debt [Line Items]
Weighted Average Interest Rate	5.53%	4.92%
Commercial Paper [Member] \| Europe [Member]
Short-term Debt [Line Items]
Weighted Average Interest Rate	4.25%	2.31%

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES - (Detail) - USD ($)
$ in Millions

Sep. 30, 2023

Dec. 31, 2022

Payables and Accruals [Abstract]

$ 157.7

$ 134.4

Contract liabilities and other customer-related liabilities

116.4

92.2

Accrued income taxes and other tax-related liabilities

37.7

27.1

Operating lease liabilities

18.1

19.0

Accrued warranty costs

13.8

14.3

Environmental liabilities and other legal matters

6.6

5.7

Accrued restructuring costs

2.7

3.9

Accrued and other current liabilities

37.5

36.8

390.5

333.4

Operating lease liabilities(a)

^[1]

69.6

58.9

Environmental liabilities

51.0

53.1

Deferred income taxes and other tax-related liabilities

28.6

31.1

Compensation and other employee-related benefits

27.0

25.0

Non-current maturities of long-term debt(a)

^[2]

6.5

7.7

Other non-current liabilities

24.4

$ 207.1

$ 200.2

[1]	The increase in the non-current operating lease liabilities balance from December 31, 2022 to September 30, 2023 is primarily driven by the renewal of an operating facility lease in Irvine, California, and by the current period acquisition of Micro-Mode.
[2]	Our long-term debt is primarily related to outstanding Italian government loans.

Label	Element	Value
Subsequent Event [Member]
Subsequent Events [Text Block]	us-gaap_SubsequentEventsTextBlock	Subsequent Event On November 1, 2023, we signed an agreement to acquire 100% of the outstanding shares of privately held Svanehøj Group A/S (Svanehøj), a Denmark-based supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector, for approximately $395, based on current DKK to USD exchange rate and subject to customary closing adjustments. The transaction is expected to close in the first quarter of 2024, subject to the receipt of customary regulatory approvals. Svanehøj will become part of our IP segment. Svanehøj employs approximately 400 employees and has operations in Denmark, Singapore and France. The company generated approximately $140 in sales in 2022.

DEBT Debt (Notes)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Debt [Text Block]

DEBT

The following table summarizes our outstanding debt obligations.


As of the Period Ended	September 30, 2023		December 31, 2022
Commercial paper	$	242.7	$	448.3
Current maturities of long-term debt and finance leases	2.2		2.2
Other short-term notes payable	0.5		0.5
Commercial paper and current maturities of long-term debt	245.4		451.0
Non-current maturities of long-term debt(a)	6.5		7.7
Total debt and finance leases	$	251.9	$	458.7

(a) Our long-term debt is primarily related to outstanding Italian government loans.

Commercial Paper

The following table presents our outstanding commercial paper borrowings and associated weighted average interest rates as of September 30, 2023 and December 31, 2022.


As of the Period Ended	September 30, 2023			December 31, 2022
Commercial Paper Outstanding - U.S. Program	$	5.0		$	299.2
Commercial Paper Outstanding - Euro Program	237.7			149.1
Total Commercial Paper Outstanding	$	242.7		$	448.3
Weighted Average Interest Rate - U.S. Program	5.53		%	4.92		%
Weighted Average Interest Rate - Euro Program	4.25		%	2.31		%

Outstanding commercial paper for both periods had maturity terms less than three months from the date of issuance.

Short-term Loans

On August 5, 2021, we entered into a revolving credit facility agreement with a syndicate of third party lenders including Bank of America, N.A., as administrative agent (the 2021 Revolving Credit Agreement). Upon its effectiveness, this agreement replaced our existing $500 revolving credit facility due November 2022. The 2021 Revolving Credit Agreement matures in August 2026 and provides for an aggregate principal amount of up to $700. The 2021 Revolving Credit Agreement provides for a potential increase of commitments of up to $350 for a possible maximum of $1,050 in aggregate commitments at the request of the Company and with the consent of the institutions providing such increase of commitments.

On May 10, 2023, we entered into the First Amendment (the Amendment) to the Company’s 2021 Revolving Credit Agreement. In connection with the phase out of LIBOR as a reference interest rate, the Amendment replaced LIBOR as a benchmark for United States Dollar revolving borrowings with the term secured overnight financing rate (Term SOFR), and replaced LIBOR as a benchmark for Euro swing line borrowings with the euro overnight short-term rate (ESTR). The Amendment did not have a significant impact on the Company’s consolidated financial statements.

Since the Amendment, the interest rate per annum on the 2021 Revolving Credit Agreement is based on the term SOFR of the currency we borrow in, plus a margin of 1.1%. As of September 30, 2023 and December 31, 2022, we had no outstanding borrowings under the 2021 Revolving Credit Agreement. There is a 0.15% fee per annum applicable to the commitments under the 2021 Revolving Credit Agreement. The margin and fees are subject to adjustment should the Company’s credit ratings change.

The 2021 Revolving Credit Agreement contains customary affirmative and negative covenants that, among other things, will limit or restrict our ability to: incur additional debt or issue guarantees; create certain liens; merge or consolidate with another person; sell, transfer, lease or otherwise dispose of assets; liquidate or dissolve; and enter into restrictive covenants. Additionally, the 2021 Revolving Credit Agreement requires us not to permit the ratio of consolidated total indebtedness to consolidated earnings before interest, taxes, depreciation, amortization, and other special, extraordinary, unusual, or non-recurring items (adjusted consolidated EBITDA) (leverage ratio) to exceed 3.50 to 1.00, with a qualified acquisition step up immediately following such qualified acquisition of 4.00 to 1.00 for four quarters, 3.75 to 1.00 for two quarters thereafter, and returning to 3.50 to 1.00 thereafter.

As of September 30, 2023, all financial covenants (e.g., leverage ratio) associated with the 2021 Revolving Credit Agreement were within the prescribed thresholds.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Schedule of Outstanding Commercial Paper

DEBT Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt Table

The following table summarizes our outstanding debt obligations.


As of the Period Ended	September 30, 2023		December 31, 2022
Commercial paper	$	242.7	$	448.3
Current maturities of long-term debt and finance leases	2.2		2.2
Other short-term notes payable	0.5		0.5
Commercial paper and current maturities of long-term debt	245.4		451.0
Non-current maturities of long-term debt(a)	6.5		7.7
Total debt and finance leases	$	251.9	$	458.7

(a) Our long-term debt is primarily related to outstanding Italian government loans.

The following table presents our outstanding commercial paper borrowings and associated weighted average interest rates as of September 30, 2023 and December 31, 2022.


As of the Period Ended	September 30, 2023			December 31, 2022
Commercial Paper Outstanding - U.S. Program	$	5.0		$	299.2
Commercial Paper Outstanding - Euro Program	237.7			149.1
Total Commercial Paper Outstanding	$	242.7		$	448.3
Weighted Average Interest Rate - U.S. Program	5.53		%	4.92		%
Weighted Average Interest Rate - Euro Program	4.25		%	2.31		%

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION

Our long-term incentive plan (LTIP) costs are primarily recorded within general and administrative expenses in our Consolidated Condensed Statements of Operations. The following table summarizes our LTIP costs.


	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Equity-based awards	$	5.0	$	4.8	$	15.1	$	13.6
Liability-based awards	0.4		0.2		1.2		0.8
Total share-based compensation expense	$	5.4	$	5.0	$	16.3	$	14.4

As of September 30, 2023, there was $30.7 of total unrecognized compensation cost related to non-vested equity awards. This cost is expected to be recognized ratably over a weighted-average period of 1.9 years. Additionally, unrecognized compensation cost related to liability-based awards was $2.5, which is expected to be recognized ratably over a weighted-average period of 2.0 years.

Year-to-Date 2023 LTIP Activity

The majority of our LTIP awards are granted during the first quarter of each year and have three-year service periods. These awards either vest equally each year or at the completion of the three-year service period. During the nine months ended September 30, 2023, we granted the following LTIP awards as provided in the table below:


	# of Awards Granted	Weighted Average Grant Date Fair Value Per Share

Restricted stock units (RSUs)	0.2	$	92.47
Performance stock units (PSUs)	0.1	$	112.59

During the nine months ended September 30, 2023 and October 1, 2022, a nominal amount of non-qualified stock options were exercised resulting in proceeds of $0.6 and $1.8, respectively. During the nine months ended September 30, 2023 and October 1, 2022, RSUs of 0.1 and 0.1, respectively, vested and were issued. During the nine months ended September 30, 2023 and October 1, 2022, PSUs of 0.1 and 0.1 that vested on December 31, 2022 and 2021, respectively, were issued.

SEGMENT INFORMATION (Details)	9 Months Ended
SEGMENT INFORMATION (Details)	Sep. 30, 2023 Segment
Segment Reporting [Abstract]
Number of Reportable Segments	3

REVENUE Revenue (Tables)

9 Months Ended

Sep. 30, 2023

Oct. 01, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue by End Market Table

The following tables present our revenue disaggregated by end market.


For the Three Months Ended September 30, 2023	Motion Technologies		Industrial Process		Connect & Control Technologies		Eliminations		Total
Auto and rail	$	351.5	$	—	$	—	$	—	$	351.5
Chemical and industrial pumps	—		219.7		—		(0.1)		219.6
Aerospace and defense	2.0		—		99.2		—		101.2
General industrial	6.0		—		71.2		(1.1)		76.1
Energy	—		60.1		13.6		—		73.7
Total	$	359.5	$	279.8	$	184.0	$	(1.2)	$	822.1

For the Nine Months Ended September 30, 2023
Auto and rail	$	1,067.5	$	—	$	—	$	—	$	1,067.5
Chemical and industrial pumps	—		664.2		—		(0.1)		664.1
Aerospace and defense	5.9		—		280.2		—		286.1
General industrial	19.7		—		205.9		(2.8)		222.8
Energy	—		175.7		37.7		—		213.4
Total	$	1,093.1	$	839.9	$	523.8	$	(2.9)	$	2,453.9


For the Three Months Ended October 1, 2022
Auto and rail	$	333.1	$	—	$	—	$	—	$	333.1
Chemical and industrial pumps	—		187.9		—		—		187.9
General industrial	7.2		—		71.4		(0.3)		78.3
Aerospace and defense	1.9		—		80.5		—		82.4
Energy	—		60.6		11.3		—		71.9
Total	$	342.2	$	248.5	$	163.2	$	(0.3)	$	753.6

For the Nine Months Ended October 1, 2022
Auto and rail	$	1,013.8	$	—	$	—	$	—	$	1,013.8
Chemical and industrial pumps	—		551.7		—		—		551.7
General industrial	23.9		—		215.6		(1.8)		237.7
Aerospace and defense	5.9		—		233.7		—		239.6
Energy	—		138.6		31.7		—		170.3
Total	$	1,043.6	$	690.3	$	481.0	$	(1.8)	$	2,213.1

Net Contract Assets and Liabilities Table

The following table represents our net contract assets and liabilities.


As of the Period Ended	September 30, 2023		December 31, 2022
Current contract assets, net	$	24.8	$	26.3
Non-current contract assets, net	1.6		1.2
Current contract liabilities	(80.9)		(70.2)
Non-current contract liabilities	(4.4)		(4.4)
Net contract liabilities	$	(58.9)	$	(47.1)

EARNINGS PER SHARE DATA - Anti-Dilutive Equity Award Units Excluded from the Computation of Diluted Earnings (Loss) (Detail) - shares
shares in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2023

Oct. 01, 2022

Sep. 30, 2023

Oct. 01, 2022

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

^[1]

0.0

0.1

0.0

[1]	(a) Anti-dilutive shares related to equity stock unit awards excluded from the computation of diluted earnings per share.

REVENUE Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
REVENUE Revenue (Details) - USD ($) $ in Millions	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 822.1	$ 753.6	$ 2,453.9	$ 2,213.1
Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(1.2)	(0.3)	(2.9)	(1.8)
Auto and rail
Disaggregation of Revenue [Line Items]
Revenue	351.5	333.1	1,067.5	1,013.8
Auto and rail \| Eliminations
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Chemical and industrial pumps
Disaggregation of Revenue [Line Items]
Revenue	219.6	187.9	664.1	551.7
Chemical and industrial pumps \| Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(0.1)	0.0	(0.1)	0.0
Aerospace and defense
Disaggregation of Revenue [Line Items]
Revenue	76.1	78.3	222.8	237.7
Aerospace and defense \| Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(1.1)	(0.3)	(2.8)	(1.8)
General industrial
Disaggregation of Revenue [Line Items]
Revenue	101.2	82.4	286.1	239.6
General industrial \| Eliminations
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Energy
Disaggregation of Revenue [Line Items]
Revenue	73.7	71.9	213.4	170.3
Energy \| Eliminations
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Motion Technologies
Disaggregation of Revenue [Line Items]
Revenue	359.5	342.2	1,093.1	1,043.6
Motion Technologies \| Auto and rail
Disaggregation of Revenue [Line Items]
Revenue	351.5	333.1	1,067.5	1,013.8
Motion Technologies \| Chemical and industrial pumps
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Motion Technologies \| Aerospace and defense
Disaggregation of Revenue [Line Items]
Revenue	6.0	7.2	19.7	23.9
Motion Technologies \| General industrial
Disaggregation of Revenue [Line Items]
Revenue	2.0	1.9	5.9	5.9
Motion Technologies \| Energy
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Industrial Process
Disaggregation of Revenue [Line Items]
Revenue	279.8	248.5	839.9	690.3
Industrial Process \| Auto and rail
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Industrial Process \| Chemical and industrial pumps
Disaggregation of Revenue [Line Items]
Revenue	219.7	187.9	664.2	551.7
Industrial Process \| Aerospace and defense
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Industrial Process \| General industrial
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Industrial Process \| Energy
Disaggregation of Revenue [Line Items]
Revenue	60.1	60.6	175.7	138.6
Connect & Control Technologies
Disaggregation of Revenue [Line Items]
Revenue	184.0	163.2	523.8	481.0
Connect & Control Technologies \| Auto and rail
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Connect & Control Technologies \| Chemical and industrial pumps
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Connect & Control Technologies \| Aerospace and defense
Disaggregation of Revenue [Line Items]
Revenue	71.2	71.4	205.9	215.6
Connect & Control Technologies \| General industrial
Disaggregation of Revenue [Line Items]
Revenue	99.2	80.5	280.2	233.7
Connect & Control Technologies \| Energy
Disaggregation of Revenue [Line Items]
Revenue	$ 13.6	$ 11.3	$ 37.7	$ 31.7

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - ACQUISITION (Details) - Micro-Mode $ in Millions	May 02, 2023 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets acquired	$ 28.7
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Total intangible assets acquired	$ 18.5
Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Total intangible assets acquired	$ 5.5
Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Total intangible assets acquired	$ 2.3
Backlog
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	2 years
Total intangible assets acquired	$ 1.9
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Total intangible assets acquired	$ 0.5

DEBT Short-term Loans (Details) $ in Millions	9 Months Ended
DEBT Short-term Loans (Details) $ in Millions	Sep. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Margin Above LIBOR	1.10%
2014 Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Aggregate Borrowing Capacity	$ 500
2021 Revolving Credit Facility Member
Line of Credit Facility [Line Items]
Line of Credit Facility, Aggregate Borrowing Capacity	700
Line of Credit Facility, Incremental Borrowing Capacity Maximum	350
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,050
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

Accrued Liabilities and Other Non-Current Liabilities

The following table summarizes our accrued liabilities and other non-current liabilities.


As of the Period Ended	September 30, 2023		December 31, 2022
Compensation and other employee-related benefits	$	157.7	$	134.4
Contract liabilities and other customer-related liabilities	116.4		92.2
Accrued income taxes and other tax-related liabilities	37.7		27.1
Operating lease liabilities	18.1		19.0
Accrued warranty costs	13.8		14.3
Environmental liabilities and other legal matters	6.6		5.7
Accrued restructuring costs	2.7		3.9
Other	37.5		36.8
Accrued and other current liabilities	$	390.5	$	333.4
Operating lease liabilities(a)	$	69.6	$	58.9
Environmental liabilities	51.0		53.1
Deferred income taxes and other tax-related liabilities	28.6		31.1
Compensation and other employee-related benefits	27.0		25.0
Non-current maturities of long-term debt	6.5		7.7
Other	24.4		24.4
Other non-current liabilities	$	207.1	$	200.2

PLANT, PROPERTY AND EQUIPMENT, NET

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

PLANT, PROPERTY AND EQUIPMENT, NET

The following table summarizes our property, plant, and equipment, net of accumulated depreciation.


	Useful life (in years)	September 30, 2023		December 31, 2022
Machinery and equipment	2 - 10	$	1,267.4	$	1,208.3
Buildings and improvements	5 - 40	286.8		277.6
Furniture, fixtures and office equipment	3 - 7	81.0		80.5
Construction work in progress		62.0		86.9
Land and improvements		28.5		29.3
Other		2.9		3.3
Plant, property and equipment, gross		1,728.6		1,685.9
Less: Accumulated depreciation		(1,205.4)		(1,159.1)
Plant, property and equipment, net		$	523.2	$	526.8

The following table summarizes our depreciation expense.


	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Depreciation expense	$	21.8	$	19.4	$	62.9	$	61.4

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Long-Term Incentive Employee Compensation Costs Table

The following table summarizes our LTIP costs.


	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Equity-based awards	$	5.0	$	4.8	$	15.1	$	13.6
Liability-based awards	0.4		0.2		1.2		0.8
Total share-based compensation expense	$	5.4	$	5.0	$	16.3	$	14.4

Summary of Long-Term Incentive Plan Award Grants Table

During the nine months ended September 30, 2023, we granted the following LTIP awards as provided in the table below:


	# of Awards Granted	Weighted Average Grant Date Fair Value Per Share

Restricted stock units (RSUs)	0.2	$	92.47
Performance stock units (PSUs)	0.1	$	112.59

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 111.8	$ 103.2	$ 321.4	$ 253.3
Other comprehensive (loss):
Net foreign currency translation adjustment	(30.5)	(44.6)	(34.7)	(127.1)
Net change in postretirement benefit plans, net of tax impacts of $(0.3), $(3.4), $1.8 and $(3.1), respectively	0.9	11.4	0.2	10.9
Other comprehensive (loss)	(29.6)	(33.2)	(34.5)	(116.2)
Comprehensive income	82.2	70.0	286.9	137.1
Less: Comprehensive income attributable to noncontrolling interests	1.0	0.8	2.4	1.5
Comprehensive income attributable to ITT Inc.	81.2	69.2	284.5	135.6
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax [Abstract]
Amortization of prior service benefit, net of tax expense of $0.4, $0.3, $1.1 and $0.9, respectively	(1.1)	(1.1)	(3.4)	(3.0)
Amortization of net actuarial loss, net of tax benefit (expense) of $0.1, $(0.1), $0.1 and $(0.4), respectively	(0.2)	0.7	0.0	2.1
Other Adjustments [Abstract]
Deferred tax asset valuation allowance reversal	0.0	0.0	1.4	0.0
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	2.2	5.7	2.2	5.7
Prior service credit, net of tax expense of $—, $(1.9), $—, and $(1.9), respectively	0.0	6.1	0.0	6.1
Net change in postretirement benefit plans, net of tax	$ (0.9)	$ (11.4)	$ (0.2)	$ (10.9)

OTHER CURRENT AND NON-CURRENT ASSETS (Tables)

9 Months Ended

Sep. 30, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Current and Non Current Assets Table

The following table summarizes our other current and non-current assets.


As of the Period Ended	September 30, 2023		December 31, 2022

Advance payments and other prepaid expenses	$	44.6	$	45.0
Current contract assets, net	24.8		26.3
Prepaid income taxes	13.3		25.1

Other	19.7		16.5
Other current assets	$	102.4	$	112.9
Other employee benefit-related assets	$	125.3	$	119.8
Operating lease right-of-use assets(a)	83.4		73.8
Deferred income taxes(b)	71.9		54.7
Equity-method and other investments	45.7		42.9
Capitalized software costs	9.1		12.4
Environmental-related assets	7.0		9.6
Other	31.1		25.9
Other non-current assets	$	373.5	$	339.1

(b) The increase in deferred income taxes from December 31, 2022 to September 30, 2023 is primarily due to benefits of $16.5 from valuation allowance reversals on deferred tax assets in Germany.

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Summary of Long-Term Incentive Plan Awards (Detail) shares in Millions	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards Granted \| shares	0.2
Grant Date Fair Value \| $ / shares	$ 92.47
Performance Stock Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards Granted \| shares	0.1
Grant Date Fair Value \| $ / shares	$ 112.59

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

CAPITAL STOCK - Additional Information - USD ($) $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Equity, Class of Treasury Stock [Line Items]
Aggregate cost of repurchase		$ 4,400	$ 60,500	$ 245,300
Number of shares repurchased under settlement of employee tax withholding obligations				0.1
Shares repurchased aggregate value under settlement of employee tax withholding obligations	$ 300	$ 200	6,700	$ 8,700
2019 Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Share repurchase program	500,000		$ 500,000
Repurchase of shares of common stock		0.1	0.7	3.0
Aggregate cost of repurchase		$ 4,400	$ 60,500	$ 245,300
Stock Repurchase Program, Remaining Authorized Repurchase Amount	78,800		78,800
2023 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Share repurchase program	$ 1,000,000		$ 1,000,000

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

Loss Contingency Accrual [Roll Forward]

COMMITMENTS AND CONTINGENCIES Rollforward of Environmental Liability and Related Assets (Detail) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2023

Oct. 01, 2022

Environmental liability - beginning balance

$ 57.1

$ 54.1

Accruals added during the period for new matters

0.0

0.2

Payments

(2.9)

(3.4)

Foreign currency

(0.1)

(0.5)

Environmental liability - ending balance

54.9

55.8

Loss Contingency Accrual [Roll Forward]

11.0

14.6

Continuing operations

Change in estimates for pre-existing accruals:

0.8

0.0

Discontinued operations(a)

Loss Contingency Accrual [Roll Forward]

Change in estimates for pre-existing accruals:

$ 0.0

5.4

^[1]

Changes in Pre-Existing Environmental Accruals, Net of Insurance Recovery

4.3

$ 1.1

[1]

SEGMENT INFORMATION (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Reconciliation of Segment to Consolidated Results Table


	Revenue				Operating Income				Operating Margin
For the Three Months Ended	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Motion Technologies	$	359.5	$	342.2	$	59.4	$	54.0	16.5	%	15.8	%
Industrial Process	279.8		248.5		64.7		48.1		23.1	%	19.4	%
Connect & Control Technologies	184.0		163.2		33.2		30.3		18.0	%	18.6	%
Eliminations	(1.2)		(0.3)		—		—		—		—
Total segment results	822.1		753.6		157.3		132.4		19.1	%	17.6	%


Corporate and Other	—		—		(14.2)		(10.4)		—		—
Total	$	822.1	$	753.6	$	143.1	$	122.0	17.4	%	16.2	%


	Revenue				Operating Income				Operating Margin
For the Nine Months Ended	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Motion Technologies	$	1,093.1	$	1,043.6	$	170.5	$	160.7	15.6	%	15.4	%
Industrial Process	839.9		690.3		186.4		107.6		22.2	%	15.6	%
Connect & Control Technologies	523.8		481.0		91.0		84.2		17.4	%	17.5	%
Eliminations	(2.9)		(1.8)		—		—		—		—
Total segment results	2,453.9		2,213.1		447.9		352.5		18.3	%	15.9	%

Corporate and Other	—		—		(38.5)		(35.4)		—		—

Total	$	2,453.9	$	2,213.1	$	409.4	$	317.1	16.7	%	14.3	%

Schedule of Segment Reporting Information

The following table presents our total assets, capital expenditures, and depreciation & amortization expense for each segment.


As of and for the Nine Months Ended	Total Assets				Capital Expenditures				Depreciation & Amortization
	September 30, 2023		December 31, 2022		September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Motion Technologies	$	1,309.0	$	1,311.9	$	44.9	$	52.6	$	49.3	$	45.5
Industrial Process	1,269.9		1,218.6		10.6		7.4		16.7		19.0
Connect & Control Technologies	858.5		751.6		11.7		9.4		14.9		14.3
Corporate and Other	364.9		498.2		1.3		4.3		1.9		2.7
Total	$	3,802.3	$	3,780.3	$	68.5	$	73.7	$	82.8	$	81.5

RECEIVABLES, NET Textuals (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2023

Oct. 01, 2022

Charges to income(a)

^[1]

$ 3.4

$ 2.5

RUSSIAN FEDERATION

Charges to income(a)

$ 1.2

[1]	We recognized bad debt expense of $1.2 relating to impacts stemming from the Russia-Ukraine war during each of the nine months ended September 30, 2023 and October 1, 2022. See Note 1, Description of Business and Basis of Presentation, for further information.

OTHER CURRENT AND NON-CURRENT ASSETS - Textuals (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
GERMANY
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 16.5

SEGMENT INFORMATION - Schedule of Segment Reporting Information by Segment Assets (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total Assets	$ 3,802.3		$ 3,780.3
Capital Expenditures	68.5	$ 73.7
Depreciation & Amortization	82.8	81.5
Motion Technologies
Segment Reporting Information [Line Items]
Total Assets	1,309.0		1,311.9
Capital Expenditures	44.9	52.6
Depreciation & Amortization	49.3	45.5
Industrial Process
Segment Reporting Information [Line Items]
Total Assets	1,269.9		1,218.6
Capital Expenditures	10.6	7.4
Depreciation & Amortization	16.7	19.0
Connect & Control Technologies
Segment Reporting Information [Line Items]
Total Assets	858.5		751.6
Capital Expenditures	11.7	9.4
Depreciation & Amortization	14.9	14.3
Corporate and Other
Segment Reporting Information [Line Items]
Total Assets	364.9		$ 498.2
Capital Expenditures	1.3	4.3
Depreciation & Amortization	$ 1.9	$ 2.7

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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