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CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]
Common Stock Outstanding, Beginning Balance at Dec. 31, 2022		82.7
Common Stock, Shares [Abstract]
Activity from stock incentive plans, shares		0.2
Share repuchases, shares		(0.7)
Share repurchases from net settlement of employee stock incentive plans, shares		(0.1)
Common Stock Outstanding, Ending Balance at Jul. 01, 2023		82.1
Total shareholders' equity, Beginning Balance at Dec. 31, 2022	$ 2,257.4	$ 82.7	$ 2,509.7	$ (344.3)	$ 9.3
Shareholders' Equity, Dollars [Abstract]
Net income	209.6	0.0	208.2	0.0	1.4
Shares issued and activity from stock incentive plans	10.5	0.2	10.3	0.0	0.0
Shares repurchased under repurchase plan	(60.5)	(0.7)	(59.8)	0.0	0.0
Shares withheld related to net share settlement of stock incentive plans	(6.4)	(0.1)	(6.3)	0.0	0.0
Dividends Declared	(48.1)		(48.1)	0.0	0.0
Dividends to noncontrolling interest	(0.1)				(0.1)
Net change in postretirement benefit plans, net of tax impacts of $0.3, $0.3, $0.6, and $2.1, respectively	(0.7)			(0.7)
Net foreign currency translation adjustment	(4.2)			(4.2)
Other	0.1				0.1
Total shareholders' equity, Ending Balance at Jul. 01, 2023	2,357.6	$ 82.1	2,614.0	(349.2)	10.7
Common Stock Outstanding, Beginning Balance at Apr. 01, 2023		82.4
Common Stock, Shares [Abstract]
Activity from stock incentive plans, shares		0.0
Share repuchases, shares		(0.3)
Share repurchases from net settlement of employee stock incentive plans, shares		0.0
Common Stock Outstanding, Ending Balance at Jul. 01, 2023		82.1
Total shareholders' equity, Beginning Balance at Apr. 01, 2023	2,309.2	$ 82.4	2,554.7	(337.9)	10.0
Shareholders' Equity, Dollars [Abstract]
Net income	108.9	0.0	108.2	0.0	0.7
Shares issued and activity from stock incentive plans	5.4	0.0	5.4	0.0	0.0
Shares repurchased under repurchase plan	(30.5)	(0.3)	(30.2)	0.0	0.0
Shares withheld related to net share settlement of stock incentive plans	(0.1)	0.0	(0.1)	0.0	0.0
Dividends Declared	(24.0)		(24.0)	0.0
Dividends to noncontrolling interest	(0.1)				(0.1)
Net change in postretirement benefit plans, net of tax impacts of $0.3, $0.3, $0.6, and $2.1, respectively	(1.1)			1.1
Net foreign currency translation adjustment	(10.2)			(10.2)
Other	0.1				0.1
Total shareholders' equity, Ending Balance at Jul. 01, 2023	$ 2,357.6	$ 82.1	2,614.0	(349.2)	10.7
Common Stock Outstanding, Beginning Balance at Dec. 31, 2023	82.1	82.1
Common Stock, Shares [Abstract]
Activity from stock incentive plans, shares		0.3
Share repuchases, shares		(0.6)
Share repurchases from net settlement of employee stock incentive plans, shares		(0.1)
Common Stock Outstanding, Ending Balance at Jun. 29, 2024	81.7	81.7
Total shareholders' equity, Beginning Balance at Dec. 31, 2023	$ 2,539.1	$ 82.1	2,778.0		10.9
Shareholders' Equity, Dollars [Abstract]
Net income	232.4		230.2	0.0	2.2
Shares issued and activity from stock incentive plans	14.0	0.3	13.7	0.0	0.0
Shares repurchased under repurchase plan	(79.6)	(0.6)	(79.0)	0.0	0.0
Shares withheld related to net share settlement of stock incentive plans	(12.8)	(0.1)	(12.7)	0.0	0.0
Dividends Declared	(52.5)		(52.5)	0.0	0.0
Dividends to noncontrolling interest	(0.5)				(0.5)
Net change in postretirement benefit plans, net of tax impacts of $0.3, $0.3, $0.6, and $2.1, respectively	(1.7)			(1.7)
Net foreign currency translation adjustment	(49.2)			(49.2)
Total shareholders' equity, Ending Balance at Jun. 29, 2024	$ 2,589.2	$ 81.7	2,877.7	(382.8)	12.6
Common Stock Outstanding, Beginning Balance at Mar. 30, 2024		82.3
Common Stock, Shares [Abstract]
Activity from stock incentive plans, shares		0.0
Share repuchases, shares		(0.6)
Share repurchases from net settlement of employee stock incentive plans, shares		0.0
Common Stock Outstanding, Ending Balance at Jun. 29, 2024	81.7	81.7
Total shareholders' equity, Beginning Balance at Mar. 30, 2024	$ 2,586.2	$ 82.3	2,857.4	(365.0)	11.5
Shareholders' Equity, Dollars [Abstract]
Net income	120.4		119.2	0.0	1.2
Shares issued and activity from stock incentive plans	6.7	0.0	6.7	0.0	0.0
Shares repurchased under repurchase plan	(79.6)	(0.6)	(79.0)	0.0	0.0
Shares withheld related to net share settlement of stock incentive plans	(0.3)	0.0	(0.3)	0.0	0.0
Dividends Declared	(26.2)		(26.2)	0.0	0.0
Dividends to noncontrolling interest	(0.1)				(0.1)
Net change in postretirement benefit plans, net of tax impacts of $0.3, $0.3, $0.6, and $2.1, respectively	(0.7)			0.7
Net foreign currency translation adjustment	(17.1)			(17.1)
Other	(0.1)		(0.1)		0.0
Total shareholders' equity, Ending Balance at Jun. 29, 2024	$ 2,589.2	$ 81.7	$ 2,877.7	$ (382.8)	$ 12.6

INCOME TAXES

6 Months Ended

Jun. 29, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

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


	Three Months Ended						Six Months Ended
	June 29, 2024			July 1, 2023			June 29, 2024			July 1, 2023
Income tax expense	$	33.0		$	30.6		$	65.8		$	50.7
Effective tax rate	21.5		%	21.9		%	22.1		%	19.5		%

The decrease in the ETR for the three months ended June 29, 2024 was due to the recognition of a U.S. federal deferred tax asset as part of a prior year acquisition. The increase in the ETR for the six months ended June 29, 2024 was due to prior year benefits of $16.3 from valuation allowance reversals on deferred tax assets in Germany and $4.9 from filing an amended 2017 consolidated federal tax return. These benefits were partially offset by a prior year expense of $14.1 relating to an Italian tax audit settlement covering tax years 2016-2022.

In October 2021, more than 135 countries and jurisdictions agreed to participate in a “two-pillar” international tax approach developed by the Organisation for Economic Co-operation and Development (OECD), which includes establishing a global minimum corporate tax rate of 15 percent. The OECD published Tax Challenges Arising from the Digitalisation of the Economy — Global Anti-Base Erosion Model Rules (Pillar Two) in December 2021 and subsequently issued additional commentary and administrative guidance clarifying several aspects of the model rules. Since the model rules have been released, many countries have now enacted Pillar Two-related laws, some of which became effective January 1, 2024, and it is anticipated that many more will follow suit throughout 2024. As of June 29, 2024, the Company does not expect Pillar Two taxes to have a significant impact on its 2024 financial statements.

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 $0.5 due to changes in audit status, expiration of statutes of limitations and other events.

- Definition

The entire disclosure for income tax.

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+ Details

INCOME TAXES Income Tax Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 33.0	$ 30.6	$ 65.8	$ 50.7
Effective tax rate	21.50%	21.90%	22.10%	19.50%
Deferred tax asset valuation allowance reversal	$ 0.0	$ (0.1)	$ 0.0	$ 1.4
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0.5		$ 0.5

- Definition

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

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+ Details

PLANT, PROPERTY AND EQUIPMENT, NET (Tables)

6 Months Ended

Jun. 29, 2024

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)	June 29, 2024		December 31, 2023
Machinery and equipment	2 - 10	$	1,270.2	$	1,317.9
Buildings and improvements	5 - 40	296.2		298.4
Furniture, fixtures and office equipment	3 - 7	75.6		83.7
Construction work in progress		82.2		78.1
Land and improvements		25.9		29.5
Other		1.9		1.7
Plant, property and equipment, gross		1,752.0		1,809.3
Less: Accumulated depreciation		(1,208.2)		(1,248.3)
Plant, property and equipment, net		$	543.8	$	561.0

The following table summarizes our depreciation expense.


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Depreciation expense	$	22.0	$	20.4	$	44.3	$	41.1

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Income Statement [Abstract]
Revenue	$ 905.9	$ 833.9	$ 1,816.5	$ 1,631.8
Cost of revenue	589.8	553.9	1,199.6	1,089.9
Gross profit	316.1	280.0	616.9	541.9
General and administrative expenses	76.8	68.4	148.3	136.7
Sales and marketing expenses	50.6	43.9	100.7	86.8
Research and development expenses	29.7	25.7	59.7	52.1
Operating income	159.0	142.0	308.2	266.3
Interest Expense	7.4	4.5	15.1	11.2
Interest Income, Operating	(1.6)	(2.0)	(3.4)	(4.6)
Other Nonoperating Income (Expense)	(0.2)	0.0	(1.7)	(0.6)
Income before income tax expense	153.4	139.5	298.2	260.3
Income tax expense	33.0	30.6	65.8	50.7
Net income	120.4	108.9	232.4	209.6
Less: Income attributable to noncontrolling interests	1.2	0.7	2.2	1.4
Net income attributable to ITT Inc.	$ 119.2	$ 108.2	$ 230.2	$ 208.2
Earnings per share attributable to ITT Inc.:
Basic	$ 1.45	$ 1.31	$ 2.80	$ 2.52
Diluted	$ 1.45	$ 1.31	$ 2.79	$ 2.51
Weighted average common shares – basic	82.0	82.4	82.1	82.5
Weighted average common shares – diluted	82.4	82.6	82.5	82.8

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Schedule of Estimated Future Intangible Amortization by Year (Details) $ in Millions	Jun. 29, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 17.3
2025	27.0
2026	21.0
2027	19.1
2028	19.1
Thereafter	$ 159.0

ACQUISITIONS - Subsequent Event (Details) - USD ($) $ in Millions		1 Months Ended	6 Months Ended
	Jul. 30, 2024	Jul. 31, 2024	Jun. 29, 2024	Jul. 01, 2023
Divestiture of Wolverine [Line Items]
Acquisitions, net of cash acquired			$ 407.5	$ 79.3
kSARIA \| Subsequent Event [Member]
Divestiture of Wolverine [Line Items]
Subsequent Event, Date	Jul. 30, 2024
Subsequent Event, Description	the Company entered into a definitive agreement to acquire 100% of the outstanding shares of privately held kSARIA Parent, Inc.
Revenue of Acquired Entity for Last Annual Period	$ 175.0
Acquisitions, net of cash acquired	$ 475.0
Wolverine \| Subsequent Event [Member]
Divestiture of Wolverine [Line Items]
Proceeds from Divestiture of Businesses		$ 171.0

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

6 Months Ended

Jun. 29, 2024

Jul. 01, 2023

Jun. 29, 2024

Jul. 01, 2023

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

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

^[1]

0.1

0.2

0.1

0.2

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

RECEIVABLES, NET

6 Months Ended

Jun. 29, 2024

Receivables [Abstract]

RECEIVABLES, NET

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


As of the Period Ended	June 29, 2024		December 31, 2023
Trade accounts receivable	$	679.2	$	641.3
Notes receivable	21.2		25.5
Other	20.0		22.6
Receivables, gross	720.4		689.4
Less: Allowance for credit losses	(14.1)		(14.2)
Receivables, net	$	706.3	$	675.2

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


	June 29, 2024		July 1, 2023
Total allowance for credit losses - January 1	$	14.2	$	12.2

Charges to income	2.2		3.6
Write-offs	(2.2)		(0.4)
Foreign currency and other	(0.1)		0.7
Total allowance for credit losses - ending balance	$	14.1	$	16.1

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from the exercise of stock options	$ 0.2	$ 0.4
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	$ 44.6
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years
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	$ 4.1
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years 1 month 6 days
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

- Definition

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.

+ References

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+ Details

PLANT, PROPERTY AND EQUIPMENT, NET - Components of Plant, Property and Equipment, Net (Detail) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 1,270.2	$ 1,317.9
Buildings and improvements	296.2	298.4
Furniture, fixtures and office equipment	75.6	83.7
Construction work in progress	82.2	78.1
Land and improvements	25.9	29.5
Other	1.9	1.7
Plant, property and equipment, gross	1,752.0	1,809.3
Less: Accumulated depreciation	(1,208.2)	(1,248.3)
Plant, property and equipment, net	$ 543.8	$ 561.0

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Dividends declared per share	$ 0.319	$ 0.290	$ 0.638	$ 0.580

OTHER CURRENT AND NON-CURRENT ASSETS

6 Months Ended

Jun. 29, 2024

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	June 29, 2024		December 31, 2023

Advance payments and other prepaid expenses	$	53.0	$	55.3
Current contract assets, net	47.5		25.8
Prepaid income taxes	20.4		16.9

Other	16.4		19.9
Other current assets	$	137.3	$	117.9
Other employee benefit-related assets	$	132.9	$	128.6
Operating lease right-of-use assets	88.5		87.4
Deferred income taxes	75.6		76.0
Equity-method and other investments	47.4		46.6
Environmental-related assets	7.7		6.0
Capitalized software costs	5.7		7.9
Other	25.0		28.5
Other non-current assets	$	382.8	$	381.0

OTHER CURRENT AND NON-CURRENT ASSETS - Textuals (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 0.0	$ 0.1	$ 0.0	$ (1.4)
GERMANY
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ (16.3)

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Operating Activities
Income from continuing operations attributable to ITT Inc.	$ 230.2	$ 208.2
Adjustments to income from continuing operations:
Depreciation and amortization	66.0	53.8
Equity-based compensation	13.7	10.1
Gain on sale of business	0.0	(7.2)
Other non-cash charges, net	15.7	16.6
Changes in assets and liabilities:
Change in receivables	(60.4)	(58.6)
Change in inventories	(5.1)	(31.4)
Change in contract assets	(20.7)	(2.9)
Change in contract liabilities	15.5	12.0
Change in accounts payable	8.2	8.9
Change in accrued expenses	(26.1)	15.5
Change in income taxes	(13.6)	(8.1)
Other, net	(7.9)	(19.1)
Net Cash – Operating Activities	215.5	197.8
Investing Activities
Capital expenditures	(50.9)	(46.3)
Proceeds from sale of business	0.0	10.5
Acquisitions, net of cash acquired	(407.5)	(79.3)
Other, net	(2.2)	(4.7)
Net Cash – Investing Activities	(460.6)	(119.8)
Financing Activities
Commercial paper, net borrowings	169.5	(61.0)
Long-term debt issued, net of debt issuance costs	299.1	0.0
Long-term debt, repayments	(109.3)	(1.1)
Share repurchases under repurchase plan	(79.0)	(60.0)
Payments for taxes related to net share settlement of stock incentive plans	(12.8)	(6.4)
Dividends paid	(52.6)	(48.1)
Other, net	(1.1)	0.3
Net Cash – Financing Activities	213.8	(176.3)
Exchange rate effects on cash and cash equivalents	(17.2)	(0.4)
Net cash – operating activities of discontinued operations	(0.1)	(0.2)
Net change in cash and cash equivalents	(48.6)	(98.9)
Less: Cash classified within current assets held for sale	(14.9)
Cash and cash equivalents – beginning of year (includes restricted cash of $0.7 and $0.7, respectively)	489.9	561.9
Cash and Cash Equivalents – End of Period (includes restricted cash of $0.9 and $0.9, respectively)	426.4	463.0
Supplemental Disclosures of Cash Flow and Non-Cash Information:
Cash paid for interest	13.7	8.5
Cash paid for income taxes, net of refunds received	69.8	52.8
Capital expenditures included in accounts payable	$ 22.4	$ 14.0

SEGMENT INFORMATION (Details) $ in Millions	3 Months Ended	6 Months Ended
SEGMENT INFORMATION (Details) $ in Millions	Jul. 01, 2023 USD ($)	Jun. 29, 2024 Segment	Jul. 01, 2023 USD ($)
Segment Reporting [Abstract]
Number of Reportable Segments \| Segment		3
Italian Government Energy Subsidy Grant \| $	$ 2.4		$ 6.3

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Employee Compensation Costs - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards	$ 7.3	$ 5.4	$ 15.0	$ 10.9
Equity Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards	6.7	5.4	13.7	10.1
Liability Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards	$ 0.6	$ 0.0	$ 1.3	$ 0.8

- Definition

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.

+ References

+ Details

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

Jun. 29, 2024

Dec. 31, 2023

Debt Disclosure [Abstract]

Commercial paper(a)

^[1]

$ 354.6

$ 184.9

Current maturities of long-term debt

2.2

2.3

Short-term loans

0.7

0.5

Total short-term borrowings

357.5

187.7

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

190.0

^[2]

5.7

Total debt and finance leases

$ 547.5

$ 193.4

UNITED STATES

Line of Credit Facility [Line Items]

Weighted Average Interest Rate

5.60%

5.61%

[1]	The associated weighted average interest rates as of June 29, 2024 and December 31, 2023 were 5.60% and 5.61%, respectively. Outstanding commercial paper for both periods had maturity terms less than three months from the date of issuance.
[2]	Our long-term debt is primarily related to a term loan that we entered into in January 2024 in connection with the acquisition of Svanehøj. See additional details in section titled, “Term Loan”, below.

EARNINGS PER SHARE DATA - Basic and Diluted Loss Per Share (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Earnings Per Share [Abstract]
Weighted average common shares – basic	82.0	82.4	82.1	82.5
Add: Dilutive impact of outstanding equity awards	0.4	0.2	0.4	0.3
Diluted weighted average common shares outstanding	82.4	82.6	82.5	82.8

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Additional Information (Details) - USD ($) $ in Millions		1 Months Ended	6 Months Ended
	Jan. 19, 2024	Jul. 31, 2024	Jun. 29, 2024	Jul. 01, 2023
Business Combination [Abstract]
Acquisitions, net of cash acquired			$ 407.5	$ 79.3
Wolverine \| Subsequent Event [Member]
Business Combination [Abstract]
Proceeds from Divestiture of Businesses		$ 171.0
Svanehoj
Business Combination [Abstract]
Acquisitions, net of cash acquired	$ 407.6

RECEIVABLES, NET - (Detail) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade accounts receivable	$ 679.2	$ 641.3
Notes receivable	21.2	25.5
Other	20.0	22.6
Receivables, gross	720.4	689.4
Less: Allowance for credit losses	(14.1)	(14.2)
Receivables, net	$ 706.3	$ 675.2

DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION AND UPDATES TO SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 29, 2024
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 January 19, 2024, we completed the acquisition of Svanehøj Group A/S (Svanehøj) for a purchase price of $407.6, net of cash acquired. Subsequent to the acquisition, Svanehøj’s results are reported within our IP segment. Refer to Note 18, Acquisitions and Divestitures, for more information. Divestiture of Wolverine Business On July 22, 2024, the Company completed the sale of its Wolverine business to an unrelated third party for approximately $171. The disposal group met the criteria for classification as held for sale in accordance with Accounting Standards Codification (ASC) 360, “Property, Plant, and Equipment”. Accordingly, we presented the assets and liabilities associated with the disposal group separately as held for sale within our Consolidated Balance Sheet for the period ended June 29, 2024. The Company evaluates all disposal transactions to determine whether such disposal qualifies as discontinued operations in accordance with ASC 205-20, “Discontinued Operations”. We concluded that the divestiture does not qualify as a discontinued operation. Refer to Note 18, Acquisitions and Divestitures, for more information. 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, 2023, presented herein, has been derived from our audited balance sheet included in our Annual Report on Form 10-K (2023 Annual Report) for the year ended December 31, 2023, 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 2023 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 2023 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, inventory valuation, and assets held for sale. 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 second quarter for 2024 and 2023 ended on June 29, 2024 and July 1, 2023, respectively. Certain prior year amounts have been reclassified to conform to the current year presentation.

Document and Entity Information - shares shares in Millions	6 Months Ended
Document and Entity Information - shares shares in Millions	Jun. 29, 2024	Jul. 31, 2024
Cover [Abstract]
Entity Registrant Name	ITT INC.
Document Type	10-Q
Document Period End Date	Jun. 29, 2024
Document Quarterly Report	true
Document Transition Report	false
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
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		81.7

COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 29, 2024

Commitments and Contingencies Disclosure [Abstract]

Rollforward of Environmental Liability and Related Assets Table

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


For the Six Months Ended	June 29, 2024		July 1, 2023
Environmental liability - beginning balance	$	56.0	$	57.1
Change in estimates for pre-existing accruals	0.3		0.7



Payments	(2.3)		(2.3)
Foreign currency	—		0.1
Environmental liability - ending balance	$	54.0	$	55.6

Range of Environmental Liability and Number of Sites

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


As of the Period Ended	June 29, 2024		December 31, 2023
High-end estimate of environmental liability	$	94.9	$	98.2
Number of open environmental sites	26		26

SEGMENT INFORMATION - Segment Operating Margin (Details)	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Motion Technologies
Segment Reporting Information [Line Items]
Operating Margin	18.50%	15.60%	18.30%	15.10%
Industrial Process
Segment Reporting Information [Line Items]
Operating Margin	19.90%	22.60%	19.50%	21.70%
Connect & Control Technologies
Segment Reporting Information [Line Items]
Operating Margin	18.50%	16.50%	18.10%	17.00%

PLANT, PROPERTY AND EQUIPMENT, NET - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 22.0	$ 20.4	$ 44.3	$ 41.1

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 425.5	$ 489.2
Receivables, net	706.3	675.2
Inventories	564.3	575.4
Other current assets	137.3	117.9
Total current assets held for sale	92.5	0.0
Total current assets	1,925.9	1,857.7
Non-current assets:
Plant, property and equipment, net	543.8	561.0
Goodwill	1,200.9	1,016.3
Other intangible assets, net	296.9	116.6
Other non-current assets	382.8	381.0
Total non-current assets held for sale	60.0
Total non-current assets	2,484.4	2,074.9
Total assets	4,410.3	3,932.6
Current liabilities:
Short-term borrowings	357.5	187.7
Accounts payable	430.9	437.0
Accrued and other current liabilities	423.6	413.1
Total current liabilities held for sale	29.4
Total current liabilities	1,241.4	1,037.8
Non-current liabilities:
Long-term debt	190.0	5.7
Postretirement benefits	131.8	138.7
Other non-current liabilities	252.4	211.3
Total non-current liabilities held for sale	5.5	0.0
Total non-current liabilities	579.7	355.7
Total liabilities	1,821.1	1,393.5
Common stock: [Abstract]
Issued and outstanding – 81.7 shares and 82.1 shares, respectively	81.7	82.1
Retained earnings	2,877.7	2,778.0
Accumulated other comprehensive loss:
Postretirement benefits	3.3	1.6
Cumulative translation adjustments	(379.5)	(330.3)
Total accumulated other comprehensive loss	(382.8)	(331.9)
Equity, Attributable to Parent, Total	2,576.6	2,528.2
Noncontrolling interests	12.6	10.9
Total shareholders’ equity	2,589.2	2,539.1
Total liabilities and shareholders’ equity	$ 4,410.3	$ 3,932.6

INVENTORIES, NET Textuals (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
INVENTORIES, NET Textuals (Details) - USD ($) $ in Millions	Jul. 01, 2023	Jul. 01, 2023
Inventory Disclosure [Abstract]
Italian Government Energy Subsidy Grant	$ 2.4	$ 6.3

DEBT Debt (Notes)

6 Months Ended

Jun. 29, 2024

Debt Disclosure [Abstract]

Debt [Text Block]

DEBT

The following table summarizes our outstanding debt obligations.


As of the Period Ended	June 29, 2024		December 31, 2023
Commercial paper(a)	$	354.6	$	184.9
Current maturities of long-term debt	2.2		2.3
Short-term loans	0.7		0.5
Total short-term borrowings	357.5		187.7
Non-current maturities of long-term debt(b)	190.0		5.7
Total debt and finance leases	$	547.5	$	193.4

(a) The associated weighted average interest rates as of June 29, 2024 and December 31, 2023 were 5.60% and 5.61%, respectively. Outstanding commercial paper for both periods had maturity terms less than three months from the date of issuance.

(b) Our long-term debt is primarily related to a term loan that we entered into in January 2024 in connection with the acquisition of Svanehøj. See additional details in section titled, “Term Loan”, below.

Revolving Credit Agreement

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 condensed 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 June 29, 2024 and December 31, 2023, 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.

As of June 29, 2024 and December 31, 2023, we had no outstanding obligations under the 2021 Revolving Credit Agreement.

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 June 29, 2024, all financial covenants (e.g., leverage ratio) associated with the 2021 Revolving Credit Agreement were within the prescribed thresholds.

Term Loan

On January 12, 2024, ITT Italia S.r.l. (ITT Italia), an indirect wholly owned subsidiary of ITT, entered into a facility agreement (the ITT Italia Credit Agreement), among the Company, as a guarantor, ITT Italia, as borrower, and BNP Paribas, Italian Branch, as bookrunner, sole underwriter and global coordinator, mandated lead arranger and agent.

The ITT Italia Credit Agreement has an initial maturity of three years (January 2027) and provides for term loan borrowings in an aggregate principal amount of €300 (or $328.9), €275 (or $301.5) of which was used to finance the Company’s acquisition of Svanehøj, which closed on January 19, 2024. Debt issuance costs were $1.8 and will be amortized over the term of the debt.

The interest rate per annum on the ITT Italia Credit Agreement is based on the EURIBOR rate for Euros, plus a margin of 1.00%. The margin and fees are subject to adjustment should the Company’s credit ratings change.

The ITT Italia Credit Agreement contains customary affirmative and negative covenants, as well as financial covenants (e.g., leverage ratio), that are similar to those contained in our 2021 Revolving Credit Agreement, as described above. As of June 29, 2024, the Company was in compliance with all covenants.

Total outstanding borrowings under the facility were €175, or $187.2, as of June 29, 2024. The following table provides the future maturities related to the outstanding balance as of June 29, 2024.


2024	$	—
2025	—
2026	—
January 2027	187.2
Total maturities	$	187.2

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

EARNINGS PER SHARE

3 Months Ended

Jun. 29, 2024

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		Six Months Ended
	June 29, 2024	July 1, 2023	June 29, 2024	July 1, 2023
Basic weighted average common shares outstanding	82.0	82.4	82.1	82.5
Add: Dilutive impact of outstanding equity awards	0.4	0.2	0.4	0.3
Diluted weighted average common shares outstanding	82.4	82.6	82.5	82.8

Anti-dilutive shares(a)	0.1	0.2	0.1	0.2

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

Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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 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	June 29, 2024		December 31, 2023
Notional amount (U.S. dollar equivalent)	$	94.4	$	258.4
Fair value of foreign currency derivative contracts(a)	$	3.2	$	3.8

(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				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Loss on foreign currency derivative contracts(b)	$	(1.2)	$	(2.1)	$	(3.4)	$	(3.2)

(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 six months ended June 29, 2024 and July 1, 2023, net cash (outflows)/inflows from foreign currency derivative contracts were $(3.5) and $4.8, respectively.

PLANT, PROPERTY AND EQUIPMENT, NET (Details) - Estimated Useful Lives	Jun. 29, 2024
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

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION

6 Months Ended

Jun. 29, 2024

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				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Equity-based awards	$	6.7	$	5.4	$	13.7	$	10.1
Liability-based awards	0.6		—		1.3		0.8
Total share-based compensation expense	$	7.3	$	5.4	$	15.0	$	10.9

As of June 29, 2024, there was $44.6 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 2.0 years. Additionally, unrecognized compensation cost related to liability-based awards was $4.1, which is expected to be recognized ratably over a weighted-average period of 2.1 years.

Year-to-Date 2024 LTIP Activity (Equity-based Awards)

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 six months ended June 29, 2024, 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)	0.1	$	128.05
Performance stock units (PSUs)	0.1	$	147.06

During the six months ended June 29, 2024 and July 1, 2023, a nominal amount of non-qualified stock options were exercised resulting in proceeds of $0.2 and $0.4, respectively. During the six months ended June 29, 2024 and July 1, 2023, RSUs of 0.1 and 0.1, respectively, vested and were issued. During the six months ended June 29, 2024 and July 1, 2023, PSUs of 0.1 and 0.1 that vested on December 31, 2023 and 2022, respectively, were issued.

EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 29, 2024

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		Six Months Ended
	June 29, 2024	July 1, 2023	June 29, 2024	July 1, 2023
Basic weighted average common shares outstanding	82.0	82.4	82.1	82.5
Add: Dilutive impact of outstanding equity awards	0.4	0.2	0.4	0.3
Diluted weighted average common shares outstanding	82.4	82.6	82.5	82.8

Anti-dilutive shares(a)	0.1	0.2	0.1	0.2

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

INVENTORIES, NET (Tables)

6 Months Ended

Jun. 29, 2024

Inventory Disclosure [Abstract]

Inventories, Net Table

The following table summarizes our inventories.


As of the Period Ended	June 29, 2024		December 31, 2023
Raw materials	$	354.9	$	366.6
Work in process	112.1		111.8
Finished goods	97.3		97.0
Inventories	$	564.3	$	575.4

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 29, 2024
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 January 19, 2024, we completed the acquisition of Svanehøj Group A/S (Svanehøj) for a purchase price of $407.6, net of cash acquired. Subsequent to the acquisition, Svanehøj’s results are reported within our IP segment. Refer to Note 18, Acquisitions and Divestitures, for more information. Divestiture of Wolverine Business On July 22, 2024, the Company completed the sale of its Wolverine business to an unrelated third party for approximately $171. The disposal group met the criteria for classification as held for sale in accordance with Accounting Standards Codification (ASC) 360, “Property, Plant, and Equipment”. Accordingly, we presented the assets and liabilities associated with the disposal group separately as held for sale within our Consolidated Balance Sheet for the period ended June 29, 2024. The Company evaluates all disposal transactions to determine whether such disposal qualifies as discontinued operations in accordance with ASC 205-20, “Discontinued Operations”. We concluded that the divestiture does not qualify as a discontinued operation. Refer to Note 18, Acquisitions and Divestitures, for more information.
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, 2023, presented herein, has been derived from our audited balance sheet included in our Annual Report on Form 10-K (2023 Annual Report) for the year ended December 31, 2023, 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 2023 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 2023 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, inventory valuation, and assets held for sale. 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 second quarter for 2024 and 2023 ended on June 29, 2024 and July 1, 2023, respectively. Certain prior year amounts have been reclassified to conform to the current year presentation.

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

6 Months Ended

Jun. 29, 2024

USD ($)

Goodwill [Roll Forward]

Goodwill - December 31, 2023

$ 1,016.3

Acquired(a)

215.4

^[1]

Adjustments to purchase price allocations

0.6

Allocated to assets held for sale

(16.0)

Foreign exchange translation

(15.4)

Goodwill - June 29, 2024

1,200.9

Motion Technologies

Goodwill [Roll Forward]

Goodwill - December 31, 2023

292.3

Acquired(a)

0.0

Adjustments to purchase price allocations

0.0

Allocated to assets held for sale

(16.0)

Foreign exchange translation

(2.0)

Goodwill - June 29, 2024

274.3

Industrial Process

Goodwill [Roll Forward]

Goodwill - December 31, 2023

403.0

Acquired(a)

215.4

^[1]

Adjustments to purchase price allocations

0.0

Allocated to assets held for sale

0.0

Foreign exchange translation

(12.6)

Goodwill - June 29, 2024

605.8

Connect & Control Technologies

Goodwill [Roll Forward]

Goodwill - December 31, 2023

321.0

Acquired(a)

0.0

Adjustments to purchase price allocations

0.6

Allocated to assets held for sale

0.0

Foreign exchange translation

(0.8)

Goodwill - June 29, 2024

$ 320.8

[1]	(a) Goodwill acquired for our Industrial Process segment is related to our acquisition of Svanehøj and represents the preliminary calculation of the excess purchase price over the net assets acquired. Refer to Note 18, Acquisitions and Divestitures, for further information.

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

SEGMENT INFORMATION

6 Months Ended

Jun. 29, 2024

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 CODM, 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 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 for each segment and reconciles our total segment revenue to total consolidated revenue.


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Motion Technologies	$	384.5	$	368.8	$	776.9	$	733.6
Industrial Process	330.7		293.6		664.6		560.1
Connect & Control Technologies	191.8		172.2		376.9		339.8
Total segment revenue	907.0		834.6		1,818.4		1,633.5
Eliminations	(1.1)		(0.7)		(1.9)		(1.7)
Total consolidated revenue	$	905.9	$	833.9	$	1,816.5	$	1,631.8

The following table presents our operating income for each segment and reconciles our total segment operating income to income from continuing operations before income tax.


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Motion Technologies	$	71.2	$	57.7	$	141.8	$	111.1
Industrial Process	65.8		66.4		129.6		121.7
Connect & Control Technologies	35.4		28.4		68.1		57.8

Total segment operating income	172.4		152.5		339.5		290.6
Other corporate costs	(13.4)		(10.5)		(31.3)		(24.3)



Interest and non-operating expense, net	(5.6)		(2.5)		(10.0)		(6.0)


Income from continuing operations before income tax	$	153.4	$	139.5	$	298.2	$	260.3

The following table presents our operating margin for each segment. Segment operating margin is calculated as segment operating income divided by segment revenue.


	Three Months Ended	Six Months Ended
			June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Motion Technologies			18.5	%	15.6	%	18.3	%	15.1	%
Industrial Process			19.9	%	22.6	%	19.5	%	21.7	%
Connect & Control Technologies			18.5	%	16.5	%	18.1	%	17.0	%

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


As of and for the Six Months Ended	Total Assets				Capital Expenditures				Depreciation & Amortization
	June 29, 2024		December 31, 2023		June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Motion Technologies	$	1,359.4	$	1,366.6	$	34.4	$	29.9	$	31.3	$	32.3
Industrial Process	1,844.8		1,323.2		10.8		7.1		23.0		11.1
Connect & Control Technologies	820.1		834.6		5.3		8.3		10.4		9.2
Corporate and Other	386.0		408.2		0.4		1.0		1.3		1.2
Total	$	4,410.3	$	3,932.6	$	50.9	$	46.3	$	66.0	$	53.8

- Definition

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.

+ References

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+ Details

REVENUE Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
REVENUE Revenue (Details) - USD ($) $ in Millions	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 905.9	$ 833.9	$ 1,816.5	$ 1,631.8
Auto and rail
Disaggregation of Revenue [Line Items]
Revenue	375.9	360.0	759.7	716.0
Chemical and industrial pumps
Disaggregation of Revenue [Line Items]
Revenue	230.4	226.5	449.3	444.5
Energy
Disaggregation of Revenue [Line Items]
Revenue	113.4	81.0	241.8	139.7
Aerospace and defense
Disaggregation of Revenue [Line Items]
Revenue	116.7	96.1	222.5	184.9
General industrial
Disaggregation of Revenue [Line Items]
Revenue	69.5	70.3	143.2	146.7
Eliminations
Disaggregation of Revenue [Line Items]
Revenue	(1.1)	(0.7)	(1.9)	(1.7)
Eliminations \| Auto and rail
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	(0.1)	0.0
Eliminations \| Chemical and industrial pumps
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Eliminations \| Energy
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Eliminations \| Aerospace and defense
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Eliminations \| General industrial
Disaggregation of Revenue [Line Items]
Revenue	(1.1)	(0.7)	(1.8)	(1.7)
Motion Technologies
Disaggregation of Revenue [Line Items]
Revenue	384.5	368.8	776.9	733.6
Motion Technologies \| Auto and rail
Disaggregation of Revenue [Line Items]
Revenue	375.9	360.0	759.8	716.0
Motion Technologies \| Chemical and industrial pumps
Disaggregation of Revenue [Line Items]
Revenue	0.0	0.0	0.0	0.0
Motion Technologies \| Energy
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	2.0	2.0	3.7	3.9
Motion Technologies \| General industrial
Disaggregation of Revenue [Line Items]
Revenue	6.6	6.8	13.4	13.7
Industrial Process
Disaggregation of Revenue [Line Items]
Revenue	330.7	293.6	664.6	560.1
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	230.4	226.5	449.3	444.5
Industrial Process \| Energy
Disaggregation of Revenue [Line Items]
Revenue	100.3	67.1	215.3	115.6
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
Connect & Control Technologies
Disaggregation of Revenue [Line Items]
Revenue	191.8	172.2	376.9	339.8
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 \| Energy
Disaggregation of Revenue [Line Items]
Revenue	13.1	13.9	26.5	24.1
Connect & Control Technologies \| Aerospace and defense
Disaggregation of Revenue [Line Items]
Revenue	114.7	94.1	218.8	181.0
Connect & Control Technologies \| General industrial
Disaggregation of Revenue [Line Items]
Revenue	$ 64.0	$ 64.2	$ 131.6	$ 134.7

PLANT, PROPERTY AND EQUIPMENT, NET

6 Months Ended

Jun. 29, 2024

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)	June 29, 2024		December 31, 2023
Machinery and equipment	2 - 10	$	1,270.2	$	1,317.9
Buildings and improvements	5 - 40	296.2		298.4
Furniture, fixtures and office equipment	3 - 7	75.6		83.7
Construction work in progress		82.2		78.1
Land and improvements		25.9		29.5
Other		1.9		1.7
Plant, property and equipment, gross		1,752.0		1,809.3
Less: Accumulated depreciation		(1,208.2)		(1,248.3)
Plant, property and equipment, net		$	543.8	$	561.0

The following table summarizes our depreciation expense.


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Depreciation expense	$	22.0	$	20.4	$	44.3	$	41.1

COMMITMENTS AND CONTINGENCIES Environmental Matters Textuals (Details) $ in Millions	Jun. 29, 2024 USD ($) site	Jul. 01, 2023 USD ($) site
Site Contingency [Line Items]
Environmental-related assets	$ 8.2	$ 10.0
Environmental Related Matters [Member]
Site Contingency [Line Items]
Number Of Active Environmental Investigation And Remediation Sites \| site	26	26
Maximum [Member] \| Environmental Related Matters [Member]
Site Contingency [Line Items]
Loss Contingency, Range of Possible Loss, Maximum	$ 94.9	$ 98.2

DEBT Debt (Tables)

6 Months Ended

Jun. 29, 2024

Debt Disclosure [Abstract]

Schedule of Debt Table

The following table summarizes our outstanding debt obligations.


As of the Period Ended	June 29, 2024		December 31, 2023
Commercial paper(a)	$	354.6	$	184.9
Current maturities of long-term debt	2.2		2.3
Short-term loans	0.7		0.5
Total short-term borrowings	357.5		187.7
Non-current maturities of long-term debt(b)	190.0		5.7
Total debt and finance leases	$	547.5	$	193.4

Schedule of Maturities of Long-Term Debt

The following table provides the future maturities related to the outstanding balance as of June 29, 2024.


2024	$	—
2025	—
2026	—
January 2027	187.2
Total maturities	$	187.2

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - ACQUISITION (Details) - Svanehoj $ in Millions	Jan. 19, 2024 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets acquired	$ 212.6
Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets Acquired	$ 23.0
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	16 years
Total intangible assets acquired	$ 107.0
Proprietary technology
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	17 years
Total intangible assets acquired	$ 65.0
Backlog
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year 3 months
Total intangible assets acquired	$ 17.0
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Total intangible assets acquired	$ 0.6

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 29, 2024

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, 2023	$	292.3	$	403.0	$	321.0	$	1,016.3
Acquired(a)	—		215.4		—		215.4
Adjustments to purchase price allocations	—		—		0.6		0.6
Allocated to assets held for sale	(16.0)		—		—		(16.0)
Foreign exchange translation	(2.0)		(12.6)		(0.8)		(15.4)
Goodwill - June 29, 2024	$	274.3	$	605.8	$	320.8	$	1,200.9

(a) Goodwill acquired for our Industrial Process segment is related to our acquisition of Svanehøj and represents the preliminary calculation of the excess purchase price over the net assets acquired. Refer to Note 18, Acquisitions and Divestitures, for further information.

Other Intangible Assets, Net

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


	June 29, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Intangibles		Gross Carrying Amount		Accumulated Amortization		Net Intangibles
Customer relationships	$	245.0	$	(83.7)	$	161.3	$	202.4	$	(138.4)	$	64.0
Proprietary technology	107.0		(20.7)		86.3		61.5		(32.5)		29.0
Patents and other	39.2		(24.3)		14.9		22.0		(17.5)		4.5
Finite-lived intangible total	391.2		(128.7)		262.5		285.9		(188.4)		97.5
Indefinite-lived intangibles	34.4		—		34.4		19.1		—		19.1
Other intangible assets	$	425.6	$	(128.7)	$	296.9	$	305.0	$	(188.4)	$	116.6

The preliminary fair values of intangible assets acquired in connection with the purchase of Svanehøj total $212.6 and consist of the following:


	Useful life (in years)	Fair value
Customer relationships	16	$	107.0
Developed technology	17	65.0
Trade name	Indefinite	23.0
Backlog	1.25	17.0
Other	10	0.6
Total intangible assets acquired		$	212.6

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

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


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Amortization expense	$	8.5	$	5.1	$	18.1	$	9.8

Estimated amortization expense for each of the five succeeding years and thereafter is as follows:


2024	$	17.3
2025	27.0
2026	21.0
2027	19.1
2028	19.1
Thereafter	$	159.0

REVENUE Contract Assets and Liabilities (Details) - USD ($)
$ in Millions

Jun. 29, 2024

Dec. 31, 2023

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]

Current contract assets

$ 47.5

$ 25.8

Non-current contract assets

1.5

1.6

Current contract liabilities(a)

(137.1)

^[1]

(95.9)

Non-current contract liabilities

(4.5)

Net contract liabilities

$ 92.6

$ 73.0

[1]	The increase in current contract liabilities from December 31, 2023 to June 29, 2024 was primarily driven by the acquisition of Svanehøj. Refer to Note 18, Acquisitions and Divestitures, for further information

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

3 Months Ended

6 Months Ended

Jun. 29, 2024

Jul. 01, 2023

Jun. 29, 2024

Jul. 01, 2023

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional amount (U.S. dollar equivalent)

$ 94.4

$ 258.4

Fair value of foreign currency derivative contracts(a)

^[1]

3.2

$ 3.8

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

^[2]

$ (1.2)

$ (2.1)

(3.4)

$ (3.2)

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

$ (3.5)

$ 4.8

[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.

RECEIVABLES, NET (Tables)

6 Months Ended

Jun. 29, 2024

Receivables [Abstract]

Receivables, Net by Type Table

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


As of the Period Ended	June 29, 2024		December 31, 2023
Trade accounts receivable	$	679.2	$	641.3
Notes receivable	21.2		25.5
Other	20.0		22.6
Receivables, gross	720.4		689.4
Less: Allowance for credit losses	(14.1)		(14.2)
Receivables, net	$	706.3	$	675.2

Allowance for Credit Losses Rollforward Table

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


	June 29, 2024		July 1, 2023
Total allowance for credit losses - January 1	$	14.2	$	12.2

Charges to income	2.2		3.6
Write-offs	(2.2)		(0.4)
Foreign currency and other	(0.1)		0.7
Total allowance for credit losses - ending balance	$	14.1	$	16.1

CAPITAL STOCK - Additional Information - USD ($) $ in Thousands, shares in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Equity, Class of Treasury Stock [Line Items]
Aggregate cost of repurchase	$ 79,600	$ 30,500	$ 79,600	$ 60,500
Number of shares repurchased under settlement of employee tax withholding obligations			0.1	0.1
Shares repurchased aggregate value under settlement of employee tax withholding obligations	300	$ 200	$ 12,800	$ 6,400
Payments for Repurchase of Common Stock			79,000	$ 60,000
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		0.3	0.6	0.7
Aggregate cost of repurchase		$ 30,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	1,000,000		$ 1,000,000
2023 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Share repurchase program	$ 1,000,000		$ 1,000,000

INCOME TAXES Income Tax Expense (Tables)

6 Months Ended

Jun. 29, 2024

Income Tax Disclosure [Abstract]

Inome Tax Expense (Benefit) Table

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


	Three Months Ended						Six Months Ended
	June 29, 2024			July 1, 2023			June 29, 2024			July 1, 2023
Income tax expense	$	33.0		$	30.6		$	65.8		$	50.7
Effective tax rate	21.5		%	21.9		%	22.1		%	19.5		%

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Other Intangible Assets (Detail) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Finite-lived intangible total	$ 391.2	$ 285.9
Indefinite-lived intangibles	34.4	19.1
Other intangible assets	425.6	305.0
Accumulated Amortization	(128.7)	(188.4)
Finite-live intangible asset, net of accumulated amortization	262.5	97.5
Other intangible assets	296.9	116.6
Customer relationships
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Customer relationships	245.0	202.4
Accumulated Amortization	(83.7)	(138.4)
Finite-live intangible asset, net of accumulated amortization	161.3	64.0
Proprietary technology
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Proprietary technology	107.0	61.5
Accumulated Amortization	(20.7)	(32.5)
Finite-live intangible asset, net of accumulated amortization	86.3	29.0
Patents and other
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Patents and other	39.2	22.0
Accumulated Amortization	(24.3)	(17.5)
Finite-live intangible asset, net of accumulated amortization	$ 14.9	$ 4.5

REVENUE Revenue (Tables)

6 Months Ended

Jun. 29, 2024

Jul. 01, 2023

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 June 29, 2024	Motion Technologies		Industrial Process		Connect & Control Technologies		Eliminations		Total
Auto and rail	$	375.9	$	—	$	—	$	—	$	375.9
Chemical and industrial pumps	—		230.4		—		—		230.4
Energy	—		100.3		13.1		—		113.4
Aerospace and defense	2.0		—		114.7		—		116.7
General industrial	6.6		—		64.0		(1.1)		69.5
Total	$	384.5	$	330.7	$	191.8	$	(1.1)	$	905.9

For the Six Months Ended June 29, 2024
Auto and rail	$	759.8	$	—	$	—	$	(0.1)	$	759.7
Chemical and industrial pumps	—		449.3		—		—		449.3
Energy	—		215.3		26.5		—		241.8
Aerospace and defense	3.7		—		218.8		—		222.5
General industrial	13.4		—		131.6		(1.8)		143.2
Total	$	776.9	$	664.6	$	376.9	$	(1.9)	$	1,816.5


For the Three Months Ended July 1, 2023
Auto and rail	$	360.0	$	—	$	—	$	—	$	360.0
Chemical and industrial pumps	—		226.5		—		—		226.5
Energy	—		67.1		13.9		—		81.0
Aerospace and defense	2.0		—		94.1		—		96.1
General industrial	6.8		—		64.2		(0.7)		70.3
Total	$	368.8	$	293.6	$	172.2	$	(0.7)	$	833.9

For the Six Months Ended July 1, 2023
Auto and rail	$	716.0	$	—	$	—	$	—	$	716.0
Chemical and industrial pumps	—		444.5		—		—		444.5
Energy	—		115.6		24.1		—		139.7
Aerospace and defense	3.9		—		181.0		—		184.9
General industrial	13.7		—		134.7		(1.7)		146.7
Total	$	733.6	$	560.1	$	339.8	$	(1.7)	$	1,631.8

Net Contract Assets and Liabilities Table

The following table represents our net contract assets and liabilities.


As of the Period Ended	June 29, 2024		December 31, 2023
Current contract assets	$	47.5	$	25.8
Non-current contract assets	1.5		1.6
Current contract liabilities(a)	(137.1)		(95.9)
Non-current contract liabilities	(4.5)		(4.5)
Net contract liabilities	$	(92.6)	$	(73.0)

(a)The increase in current contract liabilities from December 31, 2023 to June 29, 2024 was primarily driven by the acquisition of Svanehøj. Refer to Note 18, Acquisitions and Divestitures, for further information.

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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	June 29, 2024		December 31, 2023
Notional amount (U.S. dollar equivalent)	$	94.4	$	258.4
Fair value of foreign currency derivative contracts(a)	$	3.2	$	3.8


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Loss on foreign currency derivative contracts(b)	$	(1.2)	$	(2.1)	$	(3.4)	$	(3.2)

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

COMMITMENTS AND CONTINGENCIES Rollforward of Environmental Liability and Related Assets (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Loss Contingency Accrual [Roll Forward]
Environmental liability - beginning balance	$ 56.0	$ 57.1
Payments	(2.3)	(2.3)
Foreign currency	0.0	0.1
Environmental liability - ending balance	54.0	55.6
Continuing operations
Loss Contingency Accrual [Roll Forward]
Change in estimates for pre-existing accruals	$ 0.3	$ 0.7

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 120.4	$ 108.9	$ 232.4	$ 209.6
Other comprehensive (loss):
Net foreign currency translation adjustment	(17.1)	(10.2)	(49.2)	(4.2)
Net change in postretirement benefit plans, net of tax impacts of $0.3, $0.3, $0.6, and $2.1, respectively	(0.7)	(1.1)	(1.7)	(0.7)
Other comprehensive (loss)	(17.8)	(11.3)	(50.9)	(4.9)
Comprehensive income	102.6	97.6	181.5	204.7
Less: Comprehensive income attributable to noncontrolling interests	1.2	0.7	2.2	1.4
Comprehensive income attributable to ITT Inc.	101.4	96.9	179.3	203.3
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, $0.4, $0.7, and $0.7, respectively	(1.1)	(1.1)	(2.2)	(2.3)
Amortization of net actuarial loss, net of tax benefit of $—, $—, $—, and $—, respectively	0.0	0.1	0.1	0.2
Other adjustments to postretirement benefit plans:
Net actuarial gain, net of tax expense of $(0.1), $—, $(0.1), and $—, respectively	0.4	0.0	0.4	0.0
Deferred tax asset valuation allowance reversal	0.0	(0.1)	0.0	1.4
Net change in postretirement benefit plans, net of tax	$ 0.7	$ 1.1	$ 1.7	$ 0.7

ACQUISITIONS Acquisitions Textuals (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Jan. 19, 2024	Jun. 29, 2024	Jun. 29, 2024	Jul. 01, 2023
Business Acquisition [Line Items]
Acquisitions, net of cash acquired			$ 407.5	$ 79.3
Svanehoj
Business Acquisition [Line Items]
Acquisitions, net of cash acquired	$ 407.6
Revenue of Acquired Entity for Last Annual Period		$ 148.0
Cash Acquired in Excess of Payments to Acquire Business	$ 28.0

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Jun. 29, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, shares authorized	250.0
Common stock, par value	$ 1
Issued and outstanding – 81.7 shares and 82.1 shares, respectively	81.7	82.1
Common stock, shares outstanding	81.7	82.1

OTHER CURRENT AND NON-CURRENT ASSETS - Components of Other Current and Non-Current Assets - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Advance payments and other prepaid expenses	$ 53.0	$ 55.3
Current contract assets	47.5	25.8
Prepaid income taxes	20.4	16.9
Other	16.4	19.9
Other current assets	137.3	117.9
Other employee benefit-related assets	132.9	128.6
Operating lease right-of-use assets	88.5	87.4
Deferred income taxes	75.6	76.0
Equity-method and other investments	47.4	46.6
Capitalized software costs	5.7	7.9
Environmental-related assets	7.7	6.0
Other	25.0	28.5
Other non-current assets	$ 382.8	$ 381.0

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES

6 Months Ended

Jun. 29, 2024

Payables and Accruals [Abstract]

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES

ACCOUNTS PAYABLE, ACCRUED LIABILITIES AND OTHER NON-CURRENT LIABILITIES

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


As of the Period Ended	June 29, 2024		December 31, 2023
Compensation and other employee-related benefits	$	134.0	$	165.5
Contract liabilities and other customer-related liabilities	176.7		133.6
Accrued income taxes and other tax-related liabilities	29.6		30.7
Operating lease liabilities	19.4		19.5
Accrued warranty costs	15.7		14.0
Environmental liabilities and other legal matters	5.6		5.8
Accrued restructuring costs	3.4		4.8
Other	39.2		39.2
Accrued and other current liabilities	$	423.6	$	413.1
Operating lease liabilities	$	73.1	$	72.3
Deferred income taxes and other tax-related liabilities	61.1		25.0
Environmental liabilities	50.0		52.0
Compensation and other employee-related benefits	37.5		38.0

Other	30.7		24.0
Other non-current liabilities	$	252.4	$	211.3

RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements (Policies)	3 Months Ended
	Jun. 29, 2024
Recent Acconting Pronouncements [Abstract]
Recently Adopted Accounting Pronouncements	In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (CODM) and included within each reported measure of a segment's profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. This ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact that this guidance will have on the disclosures within our financial statements, and will adopt this ASU for the year ending December 31, 2024. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires disclosure of specific categories in the rate reconciliation and additional information for reconciling items that meet a quantitative threshold. The amendment also includes other changes to improve the effectiveness of income tax disclosures, including further disaggregation of income taxes paid for individually significant jurisdictions. This ASU is effective for annual periods beginning after December 15, 2024. Adoption of this ASU should be applied on a prospective basis. Early adoption is permitted. We are currently evaluating the impact that this guidance will have on the disclosures within our financial statements, and expect to adopt this ASU for the year ending December 31, 2025.

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)

6 Months Ended

Jun. 29, 2024

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, 2023	$	292.3	$	403.0	$	321.0	$	1,016.3
Acquired(a)	—		215.4		—		215.4
Adjustments to purchase price allocations	—		—		0.6		0.6
Allocated to assets held for sale	(16.0)		—		—		(16.0)
Foreign exchange translation	(2.0)		(12.6)		(0.8)		(15.4)
Goodwill - June 29, 2024	$	274.3	$	605.8	$	320.8	$	1,200.9

Other Intangible Assets Table

Other Intangible Assets, Net

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


	June 29, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Intangibles		Gross Carrying Amount		Accumulated Amortization		Net Intangibles
Customer relationships	$	245.0	$	(83.7)	$	161.3	$	202.4	$	(138.4)	$	64.0
Proprietary technology	107.0		(20.7)		86.3		61.5		(32.5)		29.0
Patents and other	39.2		(24.3)		14.9		22.0		(17.5)		4.5
Finite-lived intangible total	391.2		(128.7)		262.5		285.9		(188.4)		97.5
Indefinite-lived intangibles	34.4		—		34.4		19.1		—		19.1
Other intangible assets	$	425.6	$	(128.7)	$	296.9	$	305.0	$	(188.4)	$	116.6

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 Svanehøj total $212.6 and consist of the following:


	Useful life (in years)	Fair value
Customer relationships	16	$	107.0
Developed technology	17	65.0
Trade name	Indefinite	23.0
Backlog	1.25	17.0
Other	10	0.6
Total intangible assets acquired		$	212.6

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

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization expense for each of the five succeeding years and thereafter is as follows:


2024	$	17.3
2025	27.0
2026	21.0
2027	19.1
2028	19.1
Thereafter	$	159.0

- Definition

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

+ References

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+ Details

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS	Jun. 29, 2024
Recent Accounting Pronouncements [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS From time to time, the Financial Accounting Standards Board (FASB) or other standards setting bodies issue new accounting pronouncements. Updates to the FASB's accounting standards are communicated through issuance of an Accounting Standards Update (ASU). The Company considers the applicability and impact of all ASUs on our business and financial results. Recently issued accounting pronouncements not yet adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (CODM) and included within each reported measure of a segment's profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. This ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact that this guidance will have on the disclosures within our financial statements, and will adopt this ASU for the year ending December 31, 2024. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires disclosure of specific categories in the rate reconciliation and additional information for reconciling items that meet a quantitative threshold. The amendment also includes other changes to improve the effectiveness of income tax disclosures, including further disaggregation of income taxes paid for individually significant jurisdictions. This ASU is effective for annual periods beginning after December 15, 2024. Adoption of this ASU should be applied on a prospective basis. Early adoption is permitted. We are currently evaluating the impact that this guidance will have on the disclosures within our financial statements, and expect to adopt this ASU for the year ending December 31, 2025. During 2024, there were no other new accounting standards issued, or that are pending issuance, which are expected to have a material impact on our consolidated condensed financial statements upon adoption.

- Definition

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.

+ References

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+ Details

ACQUISITIONS Acquisitions (Details) - USD ($)
$ in Millions

Jun. 29, 2024

Jan. 19, 2024

Dec. 31, 2023

May 02, 2023

Business Acquisition [Line Items]

Goodwill

$ 1,200.9

$ 1,016.3

Micro-Mode

Business Acquisition [Line Items]

Receivables

$ 2.7

Inventory

5.3

Plant, property and equipment

6.1

Goodwill

^[1]

44.9

Other intangible assets

28.7

Other assets

0.2

Accounts payable and accrued liabilities

(2.6)

Other liabilities

(6.3)

Net assets acquired

$ 79.0

Svanehoj

Business Acquisition [Line Items]

Receivables

$ 22.4

Inventory

39.8

Plant, property and equipment

19.1

Goodwill

^[1]

215.4

Other intangible assets

212.6

Other assets

9.0

Accounts payable and accrued liabilities

(28.0)

Other liabilities

(52.9)

Contract liabilities

$ 29.8

[1]

Goodwill related to the acquisition of Svanehøj is primarily attributable to future economic benefits expected from our entrance into the marine sector, our expanded presence in the energy market, and geographic expansion. Goodwill arising from acquisitions is not expected to be deductible for income tax purposes.

REVENUE Revenue Textuals (Details) $ in Millions	3 Months Ended	6 Months Ended
REVENUE Revenue Textuals (Details) $ in Millions	Jun. 29, 2024 USD ($)	Jun. 29, 2024 USD ($)
Contract with Customer, Liability, Revenue Recognized	$ 36.0	$ 84.0
Revenue, Remaining Performance Obligation, Amount	1,423.1	1,423.1
Remaining Current Fiscal Year [Member] \| Minimum [Member]
Revenue, Remaining Performance Obligation, Amount	840.0	840.0
Remaining Current Fiscal Year [Member] \| Maximum [Member]
Revenue, Remaining Performance Obligation, Amount	$ 860.0	$ 860.0

INVENTORIES, NET

6 Months Ended

Jun. 29, 2024

Inventory Disclosure [Abstract]

INVENTORIES, NET

INVENTORIES

The following table summarizes our inventories.


As of the Period Ended	June 29, 2024		December 31, 2023
Raw materials	$	354.9	$	366.6
Work in process	112.1		111.8
Finished goods	97.3		97.0
Inventories	$	564.3	$	575.4

Government Assistance (ASU 2021-10)

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 25% to 40%. 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 or six months ended June 29, 2024. For the three and six months ended July 1, 2023, we recognized a benefit of $2.4 and $6.3, respectively, related to energy subsidies, which we recorded within Costs of revenue in our Consolidated Condensed Statements of Operations. There was no other material government assistance received by the Company or any of our subsidiaries during the periods.

SEGMENT INFORMATION - Segment Operating Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Operating income	$ 159.0	$ 142.0	$ 308.2	$ 266.3
Interest and non-operating expense, net	(5.6)	(2.5)	(10.0)	(6.0)
Income from continuing operations before income tax	153.4	139.5	298.2	260.3
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	172.4	152.5	339.5	290.6
Motion Technologies
Segment Reporting Information [Line Items]
Operating income	71.2	57.7	141.8	111.1
Industrial Process
Segment Reporting Information [Line Items]
Operating income	65.8	66.4	129.6	121.7
Connect & Control Technologies
Segment Reporting Information [Line Items]
Operating income	35.4	28.4	68.1	57.8
Other corporate costs
Segment Reporting Information [Line Items]
Operating income	$ (13.4)	$ (10.5)	$ (31.3)	$ (24.3)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES - (Detail) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Compensation and other employee-related benefits	$ 134.0	$ 165.5
Contract liabilities and other customer-related liabilities	176.7	133.6
Accrued income taxes and other tax-related liabilities	29.6	30.7
Operating lease liabilities	19.4	19.5
Accrued warranty costs	15.7	14.0
Environmental liabilities and other legal matters	5.6	5.8
Accrued restructuring costs	3.4	4.8
Other	39.2	39.2
Accrued and other current liabilities	423.6	413.1
Operating lease liabilities	73.1	72.3
Environmental liabilities	50.0	52.0
Deferred income taxes and other tax-related liabilities	61.1	25.0
Compensation and other employee-related benefits	37.5	38.0
Other	30.7	24.0
Other non-current liabilities	252.4	211.3
Accounts Payable, Other, Current	$ 19.6	$ 19.7

ACQUISITIONS Acquisitions (Notes)

6 Months Ended

Jun. 29, 2024

Acquisitions [Abstract]

Business Combination Disclosure [Text Block]

ACQUISITIONS AND DIVESTITURES

Acquisition of Svanehøj Group A/S (Svanehøj)

On January 19, 2024, the Company completed the acquisition of 100% of the privately held stock of Svanehøj for a purchase price of $407.6, net of cash acquired of $28.0. Svanehøj is a Denmark-based supplier of pumps and related aftermarket services with leading positions in cryogenic applications for the marine sector. Svanehøj’s results are reported within our IP segment. Svanehøj employs approximately 400 employees and has operations in Denmark, Singapore and France. Svanehøj had sales of approximately $148 in 2023.

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. The Company expects 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 respective 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.

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

On May 2, 2023, the Company completed the acquisition of 100% of the privately held stock of Micro-Mode for a purchase price of $79.0, 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. Subsequent to the acquisition, Micro-Mode’s results are reported within our CCT segment.

As of June 29, 2024, the allocation of the purchase price to the assets acquired and liabilities assumed was finalized related to our acquisition of Micro-Mode.

The assets acquired and liabilities assumed for both our Svanehøj and Micro-Mode acquisitions were recorded at fair value and are shown in the table below.


Allocation of Purchase Price	Micro-Mode (Final)		Svanehoj (Preliminary)
Receivables	$	2.7	$	22.4
Inventory	5.3		39.8
Plant, property and equipment	6.1		19.1
Goodwill(a)	44.9		215.4
Other intangible assets	28.7		212.6
Other assets	0.2		9.0
Accounts payable and accrued liabilities	(2.6)		(28.0)
Other liabilities	(6.3)		(52.9)
Contract liabilities	—		(29.8)
Net assets acquired	$	79.0	$	407.6

(a) Goodwill related to the acquisition of Svanehøj is primarily attributable to future economic benefits expected from our entrance into the marine sector, our expanded presence in the energy market, and geographic expansion. Goodwill arising from acquisitions is not expected to be deductible for income tax purposes.

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

Subsequent Event - Divestiture of Wolverine Business

On July 22, 2024, the Company completed the sale of its Wolverine business to an unrelated third party for approximately $171. Wolverine was part of the Company’s Motion Technologies segment.

The disposal group met the criteria for classification as held for sale within the Consolidated Balance Sheet as of the period ended June 29, 2024. The following table presents the carrying amounts of the major classes of assets and liabilities that were classified as held for sale:


As of the Period Ended	June 29, 2024
Assets held for sale
Current assets held for sale:
Cash and cash equivalents	$	14.9
Receivables, net	32.7
Inventories	44.5
Other current assets	0.4
Total current assets held for sale	92.5
Non-current assets held for sale:
Plant, property and equipment, net	26.1
Goodwill	16.0
Other intangible assets, net	9.4
Other non-current assets	8.5
Total non-current assets held for sale	60.0
Total assets held for sale	$	152.5
Liabilities held for sale
Current liabilities held for sale:
Accounts payable	$	22.3
Accrued and other current liabilities	7.1
Total current liabilities held for sale	29.4
Non-current liabilities held for sale:
Postretirement benefits	2.3
Other non-current liabilities	3.2
Total non-current liabilities held for sale	5.5
Total liabilities held for sale	$	34.9

Subsequent Event - Acquisition of kSARIA Business

On July 30, 2024, the Company entered into a definitive agreement to acquire 100% of the outstanding shares of privately held kSARIA Parent, Inc., the parent corporation of kSARIA Holding Corporation (kSARIA), for a purchase price of approximately $475, subject to customary closing adjustments. The acquisition is expected to close during the third quarter of 2024, subject to the satisfaction of the closing conditions set forth in the definitive agreement. kSARIA is a leading manufacturer of mission-critical connectivity solutions primarily for the aerospace and defense market. kSARIA is headquartered in New Hampshire, with operations across the U.S. and Mexico and has approximately 1,000 employees. kSARIA and its acquired subsidiaries generated sales of approximately $175 in 2023. Upon closing of the transaction, kSARIA will become part of our CCT segment.

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

6 Months Ended

Jun. 29, 2024

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	June 29, 2024		December 31, 2023
Compensation and other employee-related benefits	$	134.0	$	165.5
Contract liabilities and other customer-related liabilities	176.7		133.6
Accrued income taxes and other tax-related liabilities	29.6		30.7
Operating lease liabilities	19.4		19.5
Accrued warranty costs	15.7		14.0
Environmental liabilities and other legal matters	5.6		5.8
Accrued restructuring costs	3.4		4.8
Other	39.2		39.2
Accrued and other current liabilities	$	423.6	$	413.1
Operating lease liabilities	$	73.1	$	72.3
Deferred income taxes and other tax-related liabilities	61.1		25.0
Environmental liabilities	50.0		52.0
Compensation and other employee-related benefits	37.5		38.0

Other	30.7		24.0
Other non-current liabilities	$	252.4	$	211.3

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 29, 2024

Commitments and Contingencies Disclosure [Abstract]

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 Six Months Ended	June 29, 2024		July 1, 2023
Environmental liability - beginning balance	$	56.0	$	57.1
Change in estimates for pre-existing accruals	0.3		0.7



Payments	(2.3)		(2.3)
Foreign currency	—		0.1
Environmental liability - ending balance	$	54.0	$	55.6

Environmental-related assets, including estimated recoveries from insurance providers and other third parties, were $8.2 and $10.0 as of June 29, 2024 and December 31, 2023, respectively.

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


As of the Period Ended	June 29, 2024		December 31, 2023
High-end estimate of environmental liability	$	94.9	$	98.2
Number of open environmental sites	26		26

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.

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023	Jul. 01, 2023	Dec. 31, 2022
Restricted Cash	$ 0.9	$ 0.7	$ 0.9	$ 0.7

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 29, 2024

Segment Reporting [Abstract]

Reconciliation of Segment to Consolidated Results Table

The following table presents our revenue for each segment and reconciles our total segment revenue to total consolidated revenue.


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Motion Technologies	$	384.5	$	368.8	$	776.9	$	733.6
Industrial Process	330.7		293.6		664.6		560.1
Connect & Control Technologies	191.8		172.2		376.9		339.8
Total segment revenue	907.0		834.6		1,818.4		1,633.5
Eliminations	(1.1)		(0.7)		(1.9)		(1.7)
Total consolidated revenue	$	905.9	$	833.9	$	1,816.5	$	1,631.8

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table presents our operating income for each segment and reconciles our total segment operating income to income from continuing operations before income tax.


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Motion Technologies	$	71.2	$	57.7	$	141.8	$	111.1
Industrial Process	65.8		66.4		129.6		121.7
Connect & Control Technologies	35.4		28.4		68.1		57.8

Total segment operating income	172.4		152.5		339.5		290.6
Other corporate costs	(13.4)		(10.5)		(31.3)		(24.3)



Interest and non-operating expense, net	(5.6)		(2.5)		(10.0)		(6.0)


Income from continuing operations before income tax	$	153.4	$	139.5	$	298.2	$	260.3

Segment Operating Margin

The following table presents our operating margin for each segment. Segment operating margin is calculated as segment operating income divided by segment revenue.


	Three Months Ended	Six Months Ended
			June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Motion Technologies			18.5	%	15.6	%	18.3	%	15.1	%
Industrial Process			19.9	%	22.6	%	19.5	%	21.7	%
Connect & Control Technologies			18.5	%	16.5	%	18.1	%	17.0	%

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 Six Months Ended	Total Assets				Capital Expenditures				Depreciation & Amortization
	June 29, 2024		December 31, 2023		June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Motion Technologies	$	1,359.4	$	1,366.6	$	34.4	$	29.9	$	31.3	$	32.3
Industrial Process	1,844.8		1,323.2		10.8		7.1		23.0		11.1
Connect & Control Technologies	820.1		834.6		5.3		8.3		10.4		9.2
Corporate and Other	386.0		408.2		0.4		1.0		1.3		1.2
Total	$	4,410.3	$	3,932.6	$	50.9	$	46.3	$	66.0	$	53.8

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Summary of Long-Term Incentive Plan Awards (Detail) shares in Millions	6 Months Ended
	Jun. 29, 2024 $ / shares shares
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards Granted \| shares	0.1
Grant Date Fair Value \| $ / shares	$ 128.05
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	$ 147.06

- Definition

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.

+ References

+ Details

REVENUE REVENUE

6 Months Ended

Jun. 29, 2024

Revenue from Contract with Customer [Abstract]

Revenue Footnote

REVENUE

The following tables present our revenue disaggregated by end market.


For the Three Months Ended June 29, 2024	Motion Technologies		Industrial Process		Connect & Control Technologies		Eliminations		Total
Auto and rail	$	375.9	$	—	$	—	$	—	$	375.9
Chemical and industrial pumps	—		230.4		—		—		230.4
Energy	—		100.3		13.1		—		113.4
Aerospace and defense	2.0		—		114.7		—		116.7
General industrial	6.6		—		64.0		(1.1)		69.5
Total	$	384.5	$	330.7	$	191.8	$	(1.1)	$	905.9

For the Six Months Ended June 29, 2024
Auto and rail	$	759.8	$	—	$	—	$	(0.1)	$	759.7
Chemical and industrial pumps	—		449.3		—		—		449.3
Energy	—		215.3		26.5		—		241.8
Aerospace and defense	3.7		—		218.8		—		222.5
General industrial	13.4		—		131.6		(1.8)		143.2
Total	$	776.9	$	664.6	$	376.9	$	(1.9)	$	1,816.5


For the Three Months Ended July 1, 2023
Auto and rail	$	360.0	$	—	$	—	$	—	$	360.0
Chemical and industrial pumps	—		226.5		—		—		226.5
Energy	—		67.1		13.9		—		81.0
Aerospace and defense	2.0		—		94.1		—		96.1
General industrial	6.8		—		64.2		(0.7)		70.3
Total	$	368.8	$	293.6	$	172.2	$	(0.7)	$	833.9

For the Six Months Ended July 1, 2023
Auto and rail	$	716.0	$	—	$	—	$	—	$	716.0
Chemical and industrial pumps	—		444.5		—		—		444.5
Energy	—		115.6		24.1		—		139.7
Aerospace and defense	3.9		—		181.0		—		184.9
General industrial	13.7		—		134.7		(1.7)		146.7
Total	$	733.6	$	560.1	$	339.8	$	(1.7)	$	1,631.8

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	June 29, 2024		December 31, 2023
Current contract assets	$	47.5	$	25.8
Non-current contract assets	1.5		1.6
Current contract liabilities(a)	(137.1)		(95.9)
Non-current contract liabilities	(4.5)		(4.5)
Net contract liabilities	$	(92.6)	$	(73.0)

During the three and six months ended June 29, 2024, we recognized revenue of $36.0 and $84.0 related to contract liabilities as of December 31, 2023, respectively. The aggregate amount of the transaction price allocated to unsatisfied or partially satisfied performance obligations as of June 29, 2024 was $1,423.1. Of this amount, we expect to recognize approximately $840 to $860 of revenue during the remainder of 2024.

- Definition

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.

+ References

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
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-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
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-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
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-Section 50
-Paragraph 12
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-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

+ Details

INVENTORIES, NET - Components of Inventories, Net (Detail) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 354.9	$ 366.6
Work in process	112.1	111.8
Finished goods	97.3	97.0
Inventories	$ 564.3	$ 575.4

DIVESTITURE - Wolverine (Details) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
Divestiture of Wolverine [Line Items]
Cash and cash equivalents	$ 14.9
Total current assets held for sale	92.5	$ 0.0
Total non-current assets held for sale	60.0
Current liabilities held for sale	29.4
Total non-current liabilities held for sale	5.5	$ 0.0
Wolverine
Divestiture of Wolverine [Line Items]
Cash and cash equivalents	14.9
Receivables, net	32.7
Inventories	44.5
Other current assets	0.4
Total current assets held for sale	92.5
Plant, property and equipment, net	26.1
Goodwill	16.0
Other intangible assets, net	9.4
Other non-current assets	8.5
Total non-current assets held for sale	60.0
Total assets held for sale	152.5
Accounts payable	22.3
Accrued and other current liabilities	7.1
Current liabilities held for sale	29.4
Postretirement benefits	2.3
Other non-current liabilities	3.2
Total non-current liabilities held for sale	5.5
Total liabilities held for sale	$ 34.9

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Valuation Allowance [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 0.0	$ 0.1	$ 0.0	$ (1.4)
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0.5		$ 0.5
ITALY
Valuation Allowance [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions				(14.1)
GERMANY
Valuation Allowance [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ (16.3)
UNITED STATES
Valuation Allowance [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions				$ 4.9

ACQUISITIONS Acquisitions (Tables)

6 Months Ended

Jun. 29, 2024

Acquisitions [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed


Allocation of Purchase Price	Micro-Mode (Final)		Svanehoj (Preliminary)
Receivables	$	2.7	$	22.4
Inventory	5.3		39.8
Plant, property and equipment	6.1		19.1
Goodwill(a)	44.9		215.4
Other intangible assets	28.7		212.6
Other assets	0.2		9.0
Accounts payable and accrued liabilities	(2.6)		(28.0)
Other liabilities	(6.3)		(52.9)
Contract liabilities	—		(29.8)
Net assets acquired	$	79.0	$	407.6

Disposal Groups, Including Discontinued Operations

The following table presents the carrying amounts of the major classes of assets and liabilities that were classified as held for sale:


As of the Period Ended	June 29, 2024
Assets held for sale
Current assets held for sale:
Cash and cash equivalents	$	14.9
Receivables, net	32.7
Inventories	44.5
Other current assets	0.4
Total current assets held for sale	92.5
Non-current assets held for sale:
Plant, property and equipment, net	26.1
Goodwill	16.0
Other intangible assets, net	9.4
Other non-current assets	8.5
Total non-current assets held for sale	60.0
Total assets held for sale	$	152.5
Liabilities held for sale
Current liabilities held for sale:
Accounts payable	$	22.3
Accrued and other current liabilities	7.1
Total current liabilities held for sale	29.4
Non-current liabilities held for sale:
Postretirement benefits	2.3
Other non-current liabilities	3.2
Total non-current liabilities held for sale	5.5
Total liabilities held for sale	$	34.9

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

OTHER CURRENT AND NON-CURRENT ASSETS (Tables)

6 Months Ended

Jun. 29, 2024

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	June 29, 2024		December 31, 2023

Advance payments and other prepaid expenses	$	53.0	$	55.3
Current contract assets, net	47.5		25.8
Prepaid income taxes	20.4		16.9

Other	16.4		19.9
Other current assets	$	137.3	$	117.9
Other employee benefit-related assets	$	132.9	$	128.6
Operating lease right-of-use assets	88.5		87.4
Deferred income taxes	75.6		76.0
Equity-method and other investments	47.4		46.6
Environmental-related assets	7.7		6.0
Capitalized software costs	5.7		7.9
Other	25.0		28.5
Other non-current assets	$	382.8	$	381.0

DEBT Short-term Loans (Details) $ in Millions	6 Months Ended
DEBT Short-term Loans (Details) $ in Millions	Jun. 29, 2024 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%

CAPITAL STOCK	6 Months Ended
CAPITAL STOCK	Jun. 29, 2024
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). On October 4, 2023, the Board of Directors approved an indefinite term $1,000 open-market share repurchase program (the 2023 Plan). During the three and six months ended June 29, 2024, the Company repurchased and retired 0.6 shares for $79.0. During the three and six months ended July 1, 2023, the Company repurchased and retired 0.3 shares for $30.0 and 0.7 shares for $60.0, respectively. The repurchases the Company made during the second quarter of 2024 exhausted the remaining capacity under the 2019 Plan. As of June 29, 2024, there was $1,000 of remaining authorization left under the 2023 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 six months ended June 29, 2024, the Company withheld a nominal number of shares and 0.1 shares for $0.3 and $12.8, respectively. During the three and six months ended July 1, 2023, the Company withheld a nominal number of shares and 0.1 shares for $0.2 and $6.4, respectively.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

DEBT (Details) - Long-term Debt - USD ($) $ in Millions	3 Months Ended
DEBT (Details) - Long-term Debt - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt	$ 190.0	$ 5.7
Line of Credit Facility, Interest Margin Above LIBOR	1.10%
Term Loan Facility, Interest Margin Above EURIBOR	1.00%
Term Loan
Debt Instrument [Line Items]
2024	$ 0.0
2025	0.0
2026	187.2
Total maturities	187.2
Proceeds from Issuance of Debt	301.5
Debt Issuance Costs, Gross	1.8
Long-term debt	187.2
Long-Term Debt, Maturity, Remainder of Fiscal Year	$ 0.0

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical)) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent	$ 0.3	$ 0.3	$ 0.6	$ 2.1
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	0.4	0.4	0.7	0.7
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax	0.0	$ 0.0	0.0	$ 0.0
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Tax	$ (0.1)		$ (0.1)

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION (Tables)

6 Months Ended

Jun. 29, 2024

Share-Based Payment Arrangement [Abstract]

Long-Term Incentive Employee Compensation Costs Table

The following table summarizes our LTIP costs.


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Equity-based awards	$	6.7	$	5.4	$	13.7	$	10.1
Liability-based awards	0.6		—		1.3		0.8
Total share-based compensation expense	$	7.3	$	5.4	$	15.0	$	10.9

Summary of Long-Term Incentive Plan Award Grants Table

During the six months ended June 29, 2024, 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)	0.1	$	128.05
Performance stock units (PSUs)	0.1	$	147.06

RECEIVABLES, NET Allowance for Credit Losses Rollforward (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Credit Loss [Abstract]
Total allowance for credit losses - January 1	$ 14.2	$ 12.2
Charges to income	2.2	3.6
Write-offs	(2.2)	(0.4)
Foreign currency and other	(0.1)	0.7
Total allowance for credit losses - ending balance	$ 14.1	$ 16.1

SEGMENT INFORMATION - Schedule of Segment Reporting Information by Segment Assets (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total Assets	$ 4,410.3		$ 3,932.6
Capital Expenditures	50.9	$ 46.3
Depreciation & Amortization	66.0	53.8
Motion Technologies
Segment Reporting Information [Line Items]
Total Assets	1,359.4		1,366.6
Capital Expenditures	34.4	29.9
Depreciation & Amortization	31.3	32.3
Industrial Process
Segment Reporting Information [Line Items]
Total Assets	1,844.8		1,323.2
Capital Expenditures	10.8	7.1
Depreciation & Amortization	23.0	11.1
Connect & Control Technologies
Segment Reporting Information [Line Items]
Total Assets	820.1		834.6
Capital Expenditures	5.3	8.3
Depreciation & Amortization	10.4	9.2
Corporate and Other
Segment Reporting Information [Line Items]
Total Assets	386.0		$ 408.2
Capital Expenditures	0.4	1.0
Depreciation & Amortization	$ 1.3	$ 1.2

- Definition

Amount of asset recognized for present right to economic benefit.

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+ Details

SEGMENT INFORMATION - Segment Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Revenues	$ 905.9	$ 833.9	$ 1,816.5	$ 1,631.8
Segment Results [Member]
Segment Reporting Information [Line Items]
Revenues	907.0	834.6	1,818.4	1,633.5
Motion Technologies
Segment Reporting Information [Line Items]
Revenues	384.5	368.8	776.9	733.6
Industrial Process
Segment Reporting Information [Line Items]
Revenues	330.7	293.6	664.6	560.1
Connect & Control Technologies
Segment Reporting Information [Line Items]
Revenues	191.8	172.2	376.9	339.8
Eliminations
Segment Reporting Information [Line Items]
Revenues	$ (1.1)	$ (0.7)	$ (1.9)	$ (1.7)

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Intangibles Textuals (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Jan. 19, 2024
Amortization of Intangible Assets	$ 8.5	$ 5.1	$ 18.1	$ 9.8
Svanehoj
Other intangible assets					$ 212.6