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Document and Entity Information - USD ($) $ in Billions	3 Months Ended
Document and Entity Information - USD ($) $ in Billions	Mar. 31, 2011	Apr. 28, 2011	Jun. 30, 2010
Document and Entity Information [Abstract]
Entity Registrant Name	ITT CORP
Entity Central Index Key	0000216228
Document Type	10-Q
Document Period End Date	Mar. 31, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 8.3
Entity Common Stock, Shares Outstanding		184,100,000

Consolidated Condensed Income Statements (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Consolidated Condensed Income Statements
Product revenue	$ 2,053	$ 1,953
Service revenue	707	625
Total revenue	2,760	2,578
Costs of product revenue	1,352	1,307
Costs of service revenue	623	553
Total costs of revenue	1,975	1,860
Gross profit	785	718
Selling, general and administrative expenses	430	378
Research and development expenses	61	63
Transformation costs	85	0
Asbestos-related costs, net	16	15
Restructuring and asset impairment charges, net	5	17
Operating income	188	245
Interest and non-operating expenses, net	17	26
Income from continuing operations before income tax expense	171	219
Income tax expense	45	75
Income from continuing operations	126	144
Less: (Loss) income from discontinued operations	(2)	2
Net income	$ 124	$ 146
Basic:
Continuing operations	$ 0.68	$ 0.78
Discontinued operations	(0.01)	0.02
Net income	0.67	0.8
Diluted:
Continuing operations	0.67	0.78
Discontinued operations	(0.01)	0.01
Net income	$ 0.66	$ 0.79
Weighted average common shares - basic	185.0	183.3
Weighted average common shares - diluted	186.5	184.9
Cash dividends declared per common share	$ 0.25	$ 0.25

Consolidated Condensed Income Statements (Parenthetical) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Consolidated Condensed Income Statements
Tax benefit (expense) from discontinued operations	$ 1	$ (2)

Consolidated Condensed Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Consolidated Condensed Statements of Comprehensive Income [Abstract]
Net income	$ 124	$ 146
Other comprehensive income:
Net foreign currency translation adjustment	118	(91)
Net change in postretirement benefit plans, net of tax benefit of $11and $9, respectively	21	15
Net change in unrealized gains on investment securities, net of tax of $3 and $2, respectively	(7)	3
Other comprehensive income (loss)	132	(73)
Comprehensive income	256	73
Net change in postretirement benefit plans, net of tax:
Amortization of prior service costs, net of tax benefit of less than $1	1	0
Amortization of net actuarial loss, net of tax benefit of $11 and $9, respectively	20	15
Net change in postretirement benefit plans, net of tax	21	15
Net change in unrealized gains on investment securities, net of tax:
Unrealized holding (losses) gains arising during period, net of tax expense of $0 and $2 , respectively	(1)	3
Gains realized during the period, net of tax expense of $3 for 2011	(6)	0
Net change in unrealized gains on investment securities, net of tax	$ (7)	$ 3

Consolidated Condensed Statements of Comprehensive Income (Parenthetical) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Consolidated Condensed Statements of Comprehensive Income [Abstract]
Tax (expense) benefit of change in postretirement benefit plans	$ 11	$ 9
Tax (expense) of net change in unrealized gain on investment securities	3	2
Tax benefit of Amortization of prior service costs	1	0
Tax benefit of Amortization of net actuarial loss	11	9
Tax expense of Unrealized holding gains arising during period	0	2
Tax expense of realized gains arising during the period	$ 3	$ 0

Consolidated Condensed Balance Sheets - USD ($)
$ in Millions

Mar. 31, 2011

Dec. 31, 2010

Current assets:

Cash and cash equivalents

$ 1,074

$ 1,032

Receivables, net

2,075

1,944

Inventories, net

950

856

Other current assets

611

562

Total current assets

4,710

4,394

Plant, property and equipment, net

1,207

1,205

Goodwill

4,318

4,277

Other intangible assets, net

756

766

Asbestos-related assets

931

930

Other non-current assets

804

866

Total non-current assets

8,016

8,044

Total assets

12,726

12,438

Current liabilities:

Accounts payable

981

1,020

Accrued and other current liabilities

1,703

1,714

Short-term borrowings and current maturities of long-term debt

Total current liabilities

2,769

2,745

Postretirement benefits

1,715

1,733

Long-term debt

1,354

Asbestos-related liabilities

1,572

1,559

Other non-current liabilities

548

542

Total non-current liabilities

5,189

5,188

Total liabilities

7,958

7,933

Common Stock:

Authorized - 500.0 shares, $1 par value per share (207.0 shares issued) Outstanding - 184.8 shares and 184.0 shares, respectively(a)

^[1]

184

183

Retained earnings

5,539

5,409

Total accumulated other comprehensive loss

(955)

(1,087)

Total shareholders' equity

4,768

4,505

Total liabilities and shareholders' equity

$ 12,726

$ 12,438

[1]	Shares outstanding include unvested restricted common stock of 0.8 at March 31, 2011 and 1.0 at December 31, 2010.

Consolidated Condensed Balance Sheets (Parenthetical) (Unaudited) - USD ($) shares in Millions	Mar. 31, 2011	Dec. 31, 2010
Shareholders' Equity:
Common stock, shares authorized	500.0	500.0
Common stock, par value	$ 1	$ 1
Common Stock, shares issued	207.0	206.9
Common stock, shares outstanding	184.8	184.0
Common stock, unvested restricted common stock included in shares outstanding	0.8	1.0

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Operating Activities
Net income	$ 124	$ 146
Less: (Loss) income from discontinued operations	(2)	2
Income from continuing operations	126	144
Non-cash adjustments to income from continuing operations:
Depreciation and amortization	84	68
Stock-based compensation	7	8
Transformation cost	55	0
Changes in receivables	(102)	(72)
Change in inventories	(76)	3
Change in accounts payable	(13)	(10)
Other, net	(61)	(74)
Net Cash - Operating activities	20	67
Investing Activities
Capital expenditures	(47)	(52)
Acquisitions, net of cash acquired	0	(391)
Other, net	15	2
Net Cash - Investing activities	(32)	(441)
Financing Activities
Short-term debt, net	74	151
Issuance of common stock	33	10
Dividends paid	(92)	(85)
Other, net	(7)
Net Cash - Financing activities	8	76
Exchange rate effects on cash and cash equivalents	46	(48)
Net cash from discontinued operations	0	10
Net change in cash and cash equivalents	42	(336)
Cash and cash equivalents - beginning of year	1,032	1,216
Cash and Cash Equivalents - End of Period	1,074	880
Cash paid during the year for:
Interest	3	3
Income taxes (net of refunds received)	$ 17	$ 66

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2011
Basis of Presentation [Abstract]
BASIS OF PRESENTATION	NOTE 1 BASIS OF PRESENTATION ITT Corporation is a global multi-industry leader in high-technology engineering and manufacturing, operating through three segments; Defense & Information Solutions (Defense segment), Fluid Technology (Fluid segment) and Motion & Flow Control (Motion & Flow segment). Unless the context otherwise indicates, references herein to “ITT,” “the Company,” and such words as “we,” “us,” and “our” include ITT Corporation and its subsidiaries. The unaudited consolidated condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) and, in the opinion of management, reflect all adjustments (which include normal recurring adjustments) necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods presented. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted pursuant to such SEC rules. We believe that the disclosures made are adequate to make the information presented not misleading. We consistently applied the accounting policies described in ITT’s 2010 Annual Report on Form 10-K (2010 Annual Report) in preparing these unaudited financial statements, with the exception of accounting standard updates, described in Note 3, “Recent Accounting Pronouncements,” adopted on January 1, 2011. Certain prior year amounts have been reclassified to conform to current year presentation, as described within these Notes to the Consolidated Condensed Financial Statements. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2010 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, asbestos-related liabilities and recoveries from insurers and other responsible parties, postretirement obligations and assets, revenue recognition, income tax contingency accruals and valuation allowances, goodwill impairment testing and contingent liabilities. Actual results could differ from these estimates. ITT’s quarterly financial periods end on the Saturday closest to the last day of the calendar quarter, except for the last quarterly period of the fiscal year, which ends on December 31st. For ease of presentation, the quarterly financial statements included herein are described as ending on the last day of the calendar quarter.

Company Transformation

3 Months Ended

Mar. 31, 2011

Company Transformation [Abstract]

COMPANY TRANSFORMATION

NOTE 2
COMPANY TRANSFORMATION

On January 12, 2011, the Company announced that its Board of Directors had unanimously approved a plan to separate the Company’s businesses into three independent, publicly traded companies (the Transformation). Under the Transformation, ITT will execute tax-free spinoffs to shareholders of its water-related businesses and its Defense segment. The water-related business will include the Water & Wastewater division, including its analytical instrumentation component, and the Residential & Commercial Water division, as well as the Flow Control division that is currently reported within the Motion & Flow segment. The Industrial Process division, which is currently reported within the Fluid segment, will continue to operate as a subsidiary of ITT. After completion of the Transformation, ITT shareholders will own shares in all three corporations. Following the Transformation, ITT will continue to trade on the New York Stock Exchange as an industrial company that supplies highly engineered solutions in the aerospace, transportation, energy and industrial markets. The Transformation is anticipated to be completed by the end of 2011.

During the first quarter of 2011, we recognized expenses of $85 related to the planned Transformation. The components of transformation costs incurred during the first quarter of 2011 are presented below.


Transformation Costs:
Asset impairments	$	55
Advisory fees		22
Other costs		8

Total transformation costs	$	85

Total costs incurred to date	$	87

The $55 million non-cash impairment charge relates a decision to discontinue development of an information technology consolidation initiative. These costs have not been included in segment operating results.


Transformation accrual – 12/31	$	2
Charges for actions during the period		85
Cash payments		(15	)
Asset impairment		(55	)

Transformation accrual – 3/31	$	17

To execute the Transformation, we expect major areas of spending to include debt refinancing, tax impacts, information technology investments to build out independent environments for the new companies, advisory fees, and other Transformation activities. Our current estimate of the after-tax cash impact of pre-spin activities associated with the Transformation, including those initiated during the first quarter, is expected to be approximately $500. In addition, we recorded a $55 non-cash impairment charge in the first quarter related to information system initiatives that were discontinued as a result of the Transformation. The Company may incur additional costs that are not currently estimable prior to completion of the Transformation.

In addition, the Company anticipates incurring material separation-related spending following the Transformation, primarily consisting of additional tax impacts, employee-related costs, continued information systems investments, and advisory fees.

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Mar. 31, 2011
Recent Accounting Pronouncements [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 3 RECENT ACCOUNTING PRONOUNCEMENTS In October 2009, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2009-13, Multiple-Deliverable Revenue Arrangements, which amended the accounting for revenue arrangements that contain multiple elements by eliminating the criteria that objective and reliable evidence of fair value for undelivered products or services needs to exist in order to be able to account separately for deliverables and eliminates the use of the residual method of allocating arrangement consideration. The amendments establish a hierarchy for determining the selling price of a deliverable and will allow for the separation of products and services in more instances than previously permitted. We adopted this ASU effective January 1, 2011 for new arrangements entered into or arrangements materially modified on or after that date on a prospective basis. In connection with the adoption of the revised multiple element arrangement guidance, we revised our revenue recognition accounting policies. For multiple deliverable arrangements entered into or materially modified on or after January 1, 2011, we recognize revenue for a delivered element based on the relative selling price if the deliverable has stand-alone value to the customer and, in arrangements that include a general right of return relative to the delivered element, performance of the undelivered element is considered probable and substantially in the Company’s control. The selling price for a deliverable is based on vendor-specific objective evidence of selling price (VSOE), if available, third-party evidence of selling price (TPE), if VSOE is not available, or best estimated selling price (BESP), if neither VSOE nor TPE is available. The deliverables in our arrangements with multiple elements include various products and may include related services, such as installation and start-up services. For multiple element arrangements entered into or materially modified after adoption of the revised multiple element arrangement guidance, we allocate arrangement consideration based on the relative selling prices of the separate units of accounting determined in accordance with the hierarchy described above. For deliverables that are sold separately, we establish VSOE based on the price when the deliverable is sold separately. We establish TPE, generally for services, based on prices similarly situated customers pay for similar services from third party vendors. For those deliverables for which we are unable to establish VSOE or TPE, we estimate the selling price considering various factors including market and pricing trends, geography, product customization, and profit objectives. Revenue allocated to products and services are generally recognized as the products are delivered and the services are performed, provided all other revenue recognition criteria have been satisfied. The adoption of ASU 2009-13 did not result in a material change in either the units of accounting or the pattern or timing of revenue recognition. Additionally, the adoption of the revised multiple element arrangement guidance did not have a material impact on our financial condition, results of operations or cash flows. In October 2009, the FASB issued ASU No. 2009-14, which amended the accounting requirements for software revenue recognition. The objective of this update is to address the accounting for revenue arrangements that contain tangible products and software. Specifically, products that contain software that is “more than incidental” to the product as a whole will be removed from the scope of the software revenue recognition literature. The amendments align the accounting for these revenue transaction types with the amendments described under ASU 2009-13 above. We adopted the provisions of this ASU for new or materially modified arrangements entered into on or after January 1, 2011 on a prospective basis. The adoption of this ASU did not have a material impact on our financial condition, results of operations or cash flows. In April 2010, the FASB issued ASU No. 2010-17, which establishes authoritative guidance permitting use of the milestone method of revenue recognition for research or development arrangements that contain payment provisions or consideration contingent on the achievement of specified events. On January 1, 2011, we adopted the provisions of this ASU on a prospective basis. The adoption of this ASU did not have a material impact on our financial condition, results of operations or cash flows. In December 2010, the FASB issued ASU No. 2010-28, which provides additional guidance when testing goodwill for impairment. Specifically, for reporting units with zero or negative carrying amounts, an entity is required to perform the second step of the goodwill impairment test (a comparison between the carrying amount of a reporting unit’s goodwill to its implied fair value) if it is more likely than not that a goodwill impairment exists, considering any adverse qualitative factors. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2010. As of the date of our most recent goodwill impairment test, none of our reporting units would have been affected by the application of this ASU as each reporting unit had a carrying amount that exceeded zero.

Acquisitions and Divestitures	3 Months Ended
Acquisitions and Divestitures	Mar. 31, 2011
Acquisitions and Divestitures [Abstract]
ACQUISITIONS AND DIVESTITURES	NOTE 4 ACQUISITIONS & DIVESTITURES Acquisitions We did not engage in any acquisitions during the first quarter of 2011. During the first quarter of 2010, we spent $391, net of cash acquired. The substantial majority of the first quarter 2010 aggregate purchase price pertained to the acquisition of Nova Analytics Corporation (Nova) on March 23, 2010 for $385 which broadened our Fluid segment’s portfolio of analytical instrumentation tools. Additionally, in the third quarter of 2010, we completed the acquisitions of Godwin Pumps of America, Inc. and Godwin Holdings Limited (collectively referred to as Godwin) for $580, which expanded our Fluid segment’s presence within the dewatering market in the United States. The results of operations and cash flows from our 2010 acquisitions have been included in our Consolidated Condensed Financial Statements prospectively from their date of acquisition. Pro forma results of operations for acquisitions completed in 2010 have not been presented because they are not material to our Consolidated Condensed Financial Statements, either individually or in the aggregate. Divestitures We did not engage in any divestitures during the first quarter of 2011 or 2010. On September 8, 2010 we completed the sale of CAS, Inc. (CAS), a component of our Defense segment that was engaged in systems engineering and technical assistance for the U.S. Government. Subsequent to this divestiture, we do not have any significant continuing involvement in the operations of CAS, nor do we expect significant continuing cash flows from CAS. Accordingly, the financial position, results of operations and cash flows from CAS are reported as a discontinued operation and prior year amounts have been reclassified to conform to the current year presentation. During the first quarter of 2010, CAS provided third-party revenue and operating income of $57 and $4, respectively, included within discontinued operations.

Restructuring and Asset Impairment Charges	3 Months Ended
Restructuring and Asset Impairment Charges	Mar. 31, 2011
Restructuring and Asset Impairment Charges [Abstract]
RESTRUCTURING AND ASSET IMPAIRMENT CHARGES	NOTE 5 RESTRUCTURING AND ASSET IMPAIRMENT CHARGES During the first quarter of 2011 we recognized restructuring costs of $5, related to actions initiated primarily within our Defense segment. We do not expect to incur significant future charges related to these actions. 2010 Defense Segment Realignment Activities During the first quarter of 2010, we recognized a $12 restructuring charge related to a strategic realignment of our Defense segment to enable better product portfolio integration, encourage a more coordinated market approach and provide reductions in overhead costs. The Defense segment was renamed ITT Defense & Information Solutions and the previous organizational structure, consisting of seven divisions, was consolidated into three larger divisions. This initiative was substantially completed during 2010 and resulted in a total charge of $27 and headcount reductions of 642, which included 162 factory workers, 457 office workers and 23 management employees. In addition, the operations at three of the Defense segment’s production sites were relocated and integrated with other existing sites during the fourth quarter of 2010. We estimate our Defense segment realignment actions will yield approximately $61 in annual net savings. The remaining liability related to the realignment action was $5 as of March 31, 2011, and is expected to be fully paid during the remainder of 2011.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2011
Income Taxes [Abstract]
INCOME TAXES	NOTE 6 INCOME TAXES Effective Tax Rate For the quarter ended March 31, 2011 we recorded an income tax expense of $45, compared to $75 for the comparable prior year period, reflecting an effective tax rate of 26.3% and 34.2%, respectively. The decrease in income tax expense was primarily attributable to a tax benefit of $23 from separation-related costs related to the planned Transformation. The effective tax rate for the first quarter of 2010 was unfavorably impacted by a discrete income tax charge of $12 associated with the ratification of the U.S. Patient Protection and Affordable Care Act (the Healthcare Reform Act). Effective January 1, 2013, the Healthcare Reform Act eliminates the tax deduction for benefits related to subsidies received for prescription drug benefits provided under retiree healthcare benefit plans that were determined to be actuarially equivalent to Medicare Part D.

Earnings Per Share

3 Months Ended

Mar. 31, 2011

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 7
EARNINGS PER SHARE

The following table provides a reconciliation of the data used in the calculation of basic and diluted earnings per share computations for income from continuing operations for the first quarter of 2011 and 2010.


	2011		2010
Income from continuing operations	$	126	$	144

Weighted average common shares outstanding		183.6		181.8
Add: Weighted average restricted stock awards outstanding^(a)		1.4		1.5

Basic weighted average common shares outstanding		185.0		183.3
Add: Dilutive impact of stock options		1.5		1.6

Diluted weighted average common shares outstanding		186.5		184.9

Basic earnings per share from continuing operations	$	0.68	$	0.78
Diluted earnings per share from continuing operations	$	0.67	$	0.78


(a)		Restricted stock awards containing rights to non-forfeitable dividends which participate in undistributed earnings with common shareholders are considered participating securities for purposes of computing earnings per share.

The following table provides the number of shares underlying stock options excluded from the computation of diluted earnings per share as of March 31, 2011 and 2010 because they were anti-dilutive.


	2011		2010
Anti-dilutive stock options		1.2		1.8
Average exercise price	$	56.28	$	54.62

Years of expiration		2014-2021		2012- 2020

Receivables, Net

3 Months Ended

Mar. 31, 2011

Receivables, Net [Abstract]

RECEIVABLES, NET

NOTE 8
RECEIVABLES, NET


	March 31,			December 31,
	2011			2010
Trade accounts receivable	$	1,597		$	1,579
Unbilled contract receivable		475			367
Other		47			47

Receivables, gross		2,119			1,993
Allowance for doubtful accounts		(41	)		(42	)
Allowance for cash discounts		(3	)		(7	)

Receivables, net	$	2,075		$	1,944

Unbilled contract receivables represent revenue recognized on construction-type or production-type contracts that arise based on performance attainment which, by contract, cannot be billed as of the balance sheet date. We expect to bill and collect substantially all of the March 31, 2011 unbilled contract receivables during the next twelve months as billing milestones are completed or units are delivered.

Our outstanding accounts receivable balance, including both trade and unbilled receivables, from the U.S. Government was $850 and $806 as of March 31, 2011 and December 31, 2010, respectively.

Inventories, Net

3 Months Ended

Mar. 31, 2011

Inventories, Net [Abstract]

INVENTORIES, NET

NOTE 9
INVENTORIES, NET


	March 31,			December 31,
	2011			2010
Finished goods	$	231		$	231
Work in process		117			88
Raw materials		358			317

		706			636
Inventoried costs related to long-term contracts		326			296
Less – progress payments		(82	)		(76	)

Inventoried costs related to long-term contracts, net		244			220

Inventories, net	$	950		$	856

Other Current and Non Current Assets

3 Months Ended

Mar. 31, 2011

Other Current and Non Current Assets [Abstract]

OTHER CURRENT AND NON-CURRENT ASSETS

NOTE 10
OTHER CURRENT AND NON-CURRENT ASSETS


	March 31,		December 31,
	2011		2010
Current deferred income taxes	$	282	$	280
Asbestos-related current assets		105		105
Other		224		177

Other current assets	$	611	$	562

Deferred income tax	$	552	$	554
Other employee benefit-related assets		109		106
Capitalized software costs		71		118
Other		72		88

Other non-current assets	$	804	$	866

As described in Note 2, “Transformation Costs,” during the first quarter of 2011 we discontinued the development of an information technology consolidation initiative and recorded a capitalized software impairment charge of $55.

Plant, Property and Equipment, Net

3 Months Ended

Mar. 31, 2011

Plant, Property and Equipment, Net [Abstract]

PLANT, PROPERTY AND EQUIPMENT, NET

NOTE 11
PLANT, PROPERTY AND EQUIPMENT, NET


	March 31,			December 31,
	2011			2010
Land and improvements	$	61		$	59
Buildings and improvements		657			642
Machinery and equipment		1,895			1,809
Equipment held for lease or rental		140			132
Furniture, fixtures and office equipment		241			231
Construction work in progress		122			160
Other		32			29

Plant, property and equipment, gross		3,148			3,062
Less – accumulated depreciation		(1,941	)		(1,857	)

Plant, property and equipment, net	$	1,207		$	1,205

Depreciation expense of $55 and $44 was recognized in the quarter ended March 31, 2011 and 2010, respectively.

Goodwill and Other Intangible Assets, Net

3 Months Ended

Mar. 31, 2011

Goodwill and Other Intangible Assets, Net [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

NOTE 12
GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

The following table provides a rollforward of the carrying amount of goodwill for the quarter ended March 31, 2011 by segment.


					MOTION &
	DEFENSE		FLUID		FLOW		TOTAL
Goodwill — 12/31	$	2,156	$	1,634	$	487	$	4,277
Foreign currency		—		35		6		41

Goodwill — 3/31	$	2,156	$	1,669	$	493	$	4,318

Other Intangible Assets, Net


	MARCH 31, 2011							DECEMBER 31, 2010
	GROSS							GROSS
	CARRYING		ACCUMULATED			NET		CARRYING		ACCUMULATED			NET
	AMOUNT		AMORTIZATION			INTANGIBLES		AMOUNT		AMORTIZATION			INTANGIBLES
Customer and distributor relationships	$	863	$	(331	)	$	532	$	855	$	(312	)	$	543
Proprietary technology		111		(39	)		72		109		(35	)		74
Trademarks		36		(11	)		25		35		(10	)		25
Patents and other		33		(19	)		14		32		(18	)		14
Indefinite-lived intangibles		113		—			113		110		—			110

Other Intangible Assets	$	1,156	$	(400	)	$	756	$	1,141	$	(375	)	$	766

Amortization expense related to finite-lived intangible assets for the first quarter 2011 and 2010 was $22 and $20, respectively. Estimated amortization expense for the remaining nine months of 2011 and each of the five succeeding years is as follows:


Remaining 2011	$	71
2012		76
2013		61
2014		56
2015		52
2016		48

Total	$	364

Accrued and Other Current Liabilities and Other Non-Current Liabilities

3 Months Ended

Mar. 31, 2011

Accrued and Other Current Liabilities And Other Non Current Liabilities [Abstract]

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES

NOTE 13
ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES


	March 31,		December 31,
	2011		2010
Compensation and other employee-benefits	$	558	$	625
Customer advances and deferred revenue		513		478
Asbestos-related liability		117		117
Other accrued liabilities		515		494

Accrued and other current liabilities	$	1,703	$	1,714

Deferred income taxes and other tax-related accruals	$	186	$	179
Environmental		127		128
Compensation and other employee-related benefits		127		117
Product liability, guarantees and other legal matters		52		52
Other		56		66

Other non-current liabilities	$	548	$	542

During the first quarter of 2011, we corrected the presentation of amounts related to customer advances and deferred revenue by reclassifying $452 from accounts payable to accrued and other current liabilities as of December 31, 2010 in the accompanying Consolidated Condensed Balance Sheets. The reclassification had no impact on the amounts reported in the 2010 Annual Report's Consolidated Income Statements or net cash from operating activities within the Consolidated Statement of Cash Flows.

Debt

3 Months Ended

Mar. 31, 2011

Debt [Abstract]

DEBT

NOTE 14
DEBT


	March 31,			December 31,
	2011			2010
Commercial paper	$	70		$	-
Short-term loans		5			1
Current maturities of long-term debt and other		10			10

Short-term borrowings and current maturities of long-term debt		85			11

Non-current maturities of long-term debt		1,314			1,314
Non-current capital leases		4			3
Deferred gain on interest rate swaps		44			45
Unamortized discounts and debt issuance costs		(8	)		(8	)

Long-term debt		1,354			1,354

Total debt	$	1,439		$	1,365

The fair value of total debt, excluding the deferred gain on interest rate swaps, was $1,547 and $1,483 as of March 31, 2011 and December 31, 2010, respectively. Fair value was primarily determined using quoted prices in active markets for the identical security obtained from an external pricing service.

Postretirement Benefit Plans

3 Months Ended

Mar. 31, 2011

Postretirement Benefit Plans [Abstract]

POSTRETIREMENT BENEFIT PLANS

NOTE 15
POSTRETIREMENT BENEFIT PLANS

The following table provides the components of net periodic benefit cost for pension plans, disaggregated by U.S. and international plans, and other employee-related benefit plans for the quarters ended March 31, 2011 and 2010.


	2011															2010

							Total			Other												Total			Other
	U.S.			Int’l			Pension			Benefits			Total			U.S.			Int’l			Pension			Benefits			Total
Net periodic benefit cost
Service cost	$	29		$	4		$	33		$	1		$	34		$	27		$	4		$	31		$	2		$	33
Interest cost		74			8			82			10			92			77			7			84			10			94
Expected return on plan assets		(102	)		(7	)		(109	)		(6	)		(115	)		(104	)		(6	)		(110	)		(6	)		(116	)
Amortization of net actuarial loss		27			1			28			3			31			20			1			21			3			24
Amortization of prior service cost		1			—			1			—			1			1			—			1			—			1

Net periodic benefit cost (income)		29			6			35			8			43			21			6			27			9			36

We contributed approximately $11 and $2 to our various plans during the three months ended March 31, 2011 and 2010, respectively. Additional contributions ranging between $80 and $100 are expected during the remainder of 2011.

Long-Term Incentive Employee Compensation

3 Months Ended

Mar. 31, 2011

Long-Term Incentive Employee Compensation [Abstract]

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION

NOTE 16
LONG-TERM INCENTIVE EMPLOYEE COMPENSATION

Our long-term incentive awards program (LTIP) comprises three components: non-qualified stock options (NQOs), restricted stock (RS) and a target cash award (TSR). We account for NQOs and RS as equity-based compensation awards. TSR awards are cash settled and accounted for as liability-based compensation. LTIP employee compensation costs are primarily recorded within SG&A expenses, and are reduced by an estimated forfeiture rate. The following table provides the impact of these costs in our consolidated results of operations for the quarters ended March 31, 2011 and 2010.


	2011		2010
Compensation costs on equity-based awards	$	7	$	8
Compensation costs on liability-based awards		3		2

Total compensation costs, pre-tax	$	10	$	10

Future tax benefit	$	3	$	3

At March 31, 2011, there was $73 of unrecognized compensation cost related to non-vested NQOs and RS. This cost is expected to be recognized ratably over a weighted-average period of 2.2 years. Unrecognized compensation cost of $16 is projected to be incurred under the TSR based on performance measurements as of March 31, 2011. The TSR unamortized expense is expected to be recognized over a weighted average

period of 2.5 years. Actual performance measurements in future periods, may differ from current estimates and positively or negatively impact the TSR compensation cost recognized, as well as create volatility between periods.

First Quarter 2011 LTIP Activity

On March 3, 2011, we granted the 2011 LTIP awards. The grants comprised 0.7 NQOs, 0.5 units of RS and 10.8 TSR units with respective grant date fair values of $14.86, $57.68 and $1.00, respectively. The NQOs vest either on the completion of a three-year service period or annually in three equal installments, as determined by employee level, and have a ten-year expiration period. RS and TSR units vest on the completion of a three-year service period.

The fair value of RS corresponds to the closing price of ITT common stock on the date of grant. The fair value of each NQO grant was estimated on the date of grant, using a binomial lattice pricing model that incorporates multiple and variable assumptions over time, including assumptions such as employee exercise patterns, stock price volatility and changes in dividends. The following table details the assumptions utilized to measure fair value.


Dividend yield		1.73	%
Expected volatility		24.75	%
Expected life (in years)		7.0
Risk-free rates		3.06	%
Weighted-average grant date fair value	$	14.86

Expected volatilities are based on ITT’s historical stock price volatility and implied volatility derived from traded options on our stock. ITT uses historical data to estimate employee option exercise behavior within the valuation model. Employee groups and option characteristics are considered separately for valuation purposes. The expected life represents an estimate of the period of time options are expected to remain outstanding. The expected life provided above represents the weighted average of expected behavior for certain groups of employees who have historically exhibited different behavior. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of option grant.

The fair value of TSR units is measured on a quarterly basis and corresponds to ITT’s total shareholder return as compared to the total shareholder return of other industrial companies within the S&P 500 composite subject to a multiplier which includes a maximum and minimum payout. The relative performance ranking calculated is adjusted to reflect expected volatility over the remaining term of the award using a Monte Carlo simulation.

During the first quarter of 2011, 0.8 stock options were exercised resulting in proceeds of $33. Restrictions on 0.3 shares of RS granted in 2008 lapsed on March 10, 2011 and a corresponding number of shares were issued out of treasury stock. Typically, during the first quarter of each year, cash payments are made to settle TSR awards that vested on December 31st of the preceding year. However, no payments were made during the first quarter of 2011 as the TSR performance metric for the 2008 to 2010 performance period was less than the minimum stipulated in the TSR Award Agreement. During the first quarter of 2010, payments totaling $18 were made to settle the vested 2007 TSR award.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2011

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 17
COMMITMENTS AND CONTINGENCIES

From time to time, we are involved in legal proceedings that are incidental to the operation of our businesses. Some of these proceedings allege damages relating to environmental exposures, intellectual property matters, copyright infringement, personal injury claims, employment and pension matters, government contract issues and commercial or contractual disputes, sometimes related to acquisitions or divestitures. We will continue to defend vigorously against all claims. 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 cash flow, results of operations, or financial condition, unless otherwise noted below.

Asbestos Matters

Background

ITT, including its subsidiary Goulds Pumps, Inc. (Goulds), has been joined as a defendant with numerous other companies in product liability lawsuits alleging personal injury due to asbestos exposure. These claims allege that certain products sold by us or our subsidiaries prior to 1985 contained a part manufactured by a third party (e.g., a gasket) which contained asbestos. To the extent these third-party parts may have contained asbestos, it was encapsulated in the gasket (or other) material and was non-friable. In certain other cases, it is alleged that former ITT companies were distributors for other manufacturers’ products that may have contained asbestos.

As of March 31, 2011, there were 103,678 open claims against ITT filed in various state and federal courts alleging injury as a result of exposure to asbestos. Activity related to these asserted asbestos claims during the period was as follows:


	2011^(a)
Pending claims – 12/31		103,575
New claims		1,339
Settlements		(475	)
Dismissals		(761	)

Pending claims – 3/31		103,678


(a)		In September 2010, ITT executed an amended cost-sharing agreement related to a business we disposed of a number of years ago. The amended agreement provides for a sharing of costs for claims resolved between 2010 and 2019 naming ITT or the entity which acquired the disposed business. Claim activity associated with the amended cost-sharing agreement for claims that were not filed against ITT are excluded from the table above.

Frequently, plaintiffs are unable to identify any ITT or Goulds product as a source of asbestos exposure. In addition, in a large majority of the 103,678 pending claims against the Company, the plaintiffs are unable to demonstrate any injury. Many of those claims have been placed on inactive dockets (including 39,680 claims in Mississippi). Our experience to date is that a substantial portion of resolved claims have been dismissed without payment by the Company. As a result, management believes that a large majority of the 103,678 open claims has little or no settlement value.

In the third quarter each year, we conduct a detailed study with the assistance of outside consultants to review and update, as appropriate, the underlying assumptions used to estimate our asbestos liability and related assets. Additionally, we periodically reassess the time horizon over which a reasonable estimate of unasserted claims can be projected. As part of our ongoing review of our net asbestos exposure, each quarter we assess the most recent data available for the key inputs and assumptions, comparing the data to the expectations on which the most recent annual liability and asset estimates were based.

Results of Operations

The table provided below summarizes the net asbestos charge for the quarters ended March 31, 2011 and 2010.


	2011				2010

	Pre-tax		After-tax		Pre-tax		After-tax
Continuing operations	$	16	$	10	$	15	$	10
Discontinued operations		3		2		1		1

Total	$	19	$	12	$	16	$	11

Changes in Financial Position

The Company’s estimated asbestos exposure, net of expected recoveries from insurers and other responsible parties, for the resolution of all pending and unasserted asbestos claims estimated to be filed in the next 10 years was $653 and $641 as of March 31, 2011 and December 31, 2010, respectively. The following table provides a rollforward of the estimated total asbestos liability and related assets for the quarter ended March 31, 2011.


	Liability			Asset			Net
Balance as of 12/31	$	1,676		$	1,035		$	641
Changes in estimate during the period:
Continuing operations		21			5			16
Discontinued operations		7			4			3
Net cash activity		(15	)		(8	)		(7	)

Balance as of 3/31	$	1,689		$	1,036		$	653

The total asbestos liability and related assets as of March 31, 2011 and December 31, 2010 include $117 presented within accrued liabilities and $105 presented within other current assets on our Consolidated Condensed Balance Sheets, respectively.

The asbestos liability and related receivables are based upon current, known information. However, future events affecting the key factors and other variables for either the asbestos liability or related receivables could cause the actual costs and recoveries to be materially higher or lower than currently estimated. Due to these uncertainties, as well as our inability to reasonably estimate any additional asbestos liability for claims which may be filed beyond the next 10 years, it is not possible to predict the ultimate outcome of the cost of resolving the pending and all unasserted asbestos claims. We believe it is possible that future events affecting the key factors and other variables within the next 10 years, as well as the cost of asbestos claims filed beyond the next 10 years, net of expected recoveries, could have a material adverse effect on our financial position, results of operations or cash flows.

Other Matters

The Company is involved in coverage litigation with various insurers seeking recovery of costs incurred in connection with certain environmental and product liabilities. In a suit filed in 1991, ITT Corporation, et al. v. Pacific Indemnity Corporation et al, Sup. Ct., Los Angeles County, we are seeking recovery of costs related to environmental losses. Discovery, procedural matters, changes in California law, and various appeals have prolonged this case. For several years, the case was on appeal before the California Court of Appeals from a decision by the California Superior Court dismissing certain claims made by ITT. The case is now before the Superior Court. We have effectuated several settlements with insurers and a hearing is scheduled for May 2011 on an insurers duty to defend ITT in several environmental matters.

On February 13, 2003, we commenced an action, Cannon Electric, Inc. v. Affiliated FM Ins. Co., Sup. Ct., Los Angeles County, seeking recovery of costs related to asbestos product liability losses described above. During this coverage litigation, we entered into coverage-in-place settlement agreements with ACE, Wausau and Utica Mutual dated April 2004, September 2004, and February 2007, respectively. These agreements provide specific coverage for the Company’s legacy asbestos liabilities. A trial on several insurers coverage obligations for Goulds Pumps, Inc., is scheduled for August 2011. We continue to negotiate coverage in place agreements with other insurers. Where those negotiations are not productive, we will request that a trial be scheduled.

On March 27, 2007, we reached a settlement relating to an investigation of our ITT Night Vision Division’s compliance with the International Traffic in Arms Regulations (ITAR) pursuant to which we pled guilty to two violations, based on the export of defense articles without a license and the omission of material facts in required export reports. We were assessed a total of $50 in fines, forfeitures and penalties. We also entered into a Deferred Prosecution Agreement with the U.S. Government which deferred action regarding a third count of violations related to ITAR pending our implementation of a remedial action plan, including the appointment of an independent monitor. We were also assessed a deferred prosecution monetary penalty of $50 which is being reduced for monies spent, during the five-year period following the date of the Plea Agreement, to accelerate and further the development and fielding of advanced night vision technology. On April 12, 2011, the Department of Justice dismissed the deferred third count of the Deferred Prosecution Agreement. This dismissal terminates any further obligation of the Company under the Deferred Prosecution Agreement with the exception of our obligation to pay $50 as identified above. Management believes that this matter will not have a material adverse effect on our consolidated financial position, results of operations or cash flows.

Segment Information

3 Months Ended

Mar. 31, 2011

Segment Information [Abstract]

SEGMENT INFORMATION

NOTE 18
SEGMENT INFORMATION

The Company’s segments are reported on the same basis used internally for evaluating performance and for allocating resources. Our three reportable segments are referred to as: Defense & Information Solutions (Defense segment), Fluid Technology (Fluid segment), and Motion & Flow Control (Motion & Flow segment). 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, such as the planned spinoff transaction, asbestos and environmental matters, that are managed at a corporate level and are not included in the business segments in evaluating performance or allocating resources. Assets of the business segments exclude general corporate assets, which principally consist of cash, deferred tax assets, insurance receivables, certain property, plant and equipment, and certain other assets.

Defense – The businesses in this segment are those that directly serve the military and government agencies with products and services. Products include tactical communications equipment, electronic warfare and force protection equipment, radar systems, integrated structures equipment and imaging and sensor equipment, which include night vision goggles, as well as weather, location, surveillance and other related technologies. Services include air traffic management, information and cyber solutions, large-scale systems engineering and integration and defense technologies. The U.S. Government accounted for approximately 88% of Defense segment revenue during the first quarters of 2011 and 2010.

Fluid – Our Fluid segment is a provider of water transport and wastewater treatment systems, pumps and related technologies, and other water and fluid control products with residential, commercial, and industrial applications.

Motion & Flow – Our Motion & Flow segment comprises a group of businesses providing products and services for the areas of transportation, defense, aerospace, industrial, computer, telecommunications, medical, marine, and food & beverage. The Motion & Flow businesses primarily serve the high-end of their markets, with highly engineered products, high brand recognition, a focus on new product development and operational excellence.


	Product			Service		Total			Product			Service		Total
	Revenue			Revenue		Revenue			Revenue			Revenue		Revenue
Three Months Ended March 31	2011								2010
Defense	$	683		$	658	$	1,341		$	801		$	592	$	1,393
Fluid		945			47		992			768			31		799
Motion & Flow		428			2		430			386			2		388
Eliminations		(3	)		—		(3	)		(2	)		—		(2	)

Total	$	2,053		$	707	$	2,760		$	1,953		$	625	$	2,578


	Operating Income						Operating Margin

Three Months Ended March 31	2011			2010			2011			2010
Defense	$	137		$	141			10.2	%		10.1	%
Fluid		124			91			12.5	%		11.4	%
Motion & Flow		65			55			15.1	%		14.2	%
Corporate and Other		(138	)		(42	)		—			—

Total	$	188		$	245			6.8	%		9.5	%


					Plant, Property &				Capital				Depreciation &
	Total Assets				Equipment, Net				Expenditures				Amortization

Three Months Ended March 31	2011		2010^(a)		2011		2010^(a)		2011		2010		2011		2010
Defense	$	4,239	$	4,149	$	426	$	434	$	12	$	29	$	33	$	33
Fluid		4,339		4,055		521		518		21		11		34		20
Motion & Flow		1,438		1,372		237		230		9		9		14		13
Corporate and Other		2,710		2,862		23		23		5		3		3		2

Total	$	12,726	$	12,438	$	1,207	$	1,205	$	47	$	52	$	84	$	68


^(a)		Amounts reflect balances as of December 31, 2010.

The operations from one of our subsidiaries reported within the Fluid segment as of December 31, 2010 were reclassified during the first quarter of 2011 and are now reported within the Motion & Flow segment. Prior periods presented in the tables above have been retrospectively adjusted to reflect this change.

Recent Accounting Pronouncements (Policies)	3 Months Ended
Recent Accounting Pronouncements (Policies)	Mar. 31, 2011
Recently Adopted Accounting Pronouncements
New Accounting Pronouncements, Adopted, ASU 2010-28	In December 2010, the FASB issued ASU No. 2010-28, which provides additional guidance when testing goodwill for impairment. Specifically, for reporting units with zero or negative carrying amounts, an entity is required to perform the second step of the goodwill impairment test (a comparison between the carrying amount of a reporting unit’s goodwill to its implied fair value) if it is more likely than not that a goodwill impairment exists, considering any adverse qualitative factors. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2010. As of the date of our most recent goodwill impairment test, none of our reporting units would have been affected by the application of this ASU as each reporting unit had a carrying amount that exceeded zero.
ASU No. 2009-13	In October 2009, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2009-13, Multiple-Deliverable Revenue Arrangements, which amended the accounting for revenue arrangements that contain multiple elements by eliminating the criteria that objective and reliable evidence of fair value for undelivered products or services needs to exist in order to be able to account separately for deliverables and eliminates the use of the residual method of allocating arrangement consideration. The amendments establish a hierarchy for determining the selling price of a deliverable and will allow for the separation of products and services in more instances than previously permitted. We adopted this ASU effective January 1, 2011 for new arrangements entered into or arrangements materially modified on or after that date on a prospective basis. In connection with the adoption of the revised multiple element arrangement guidance, we revised our revenue recognition accounting policies. For multiple deliverable arrangements entered into or materially modified on or after January 1, 2011, we recognize revenue for a delivered element based on the relative selling price if the deliverable has stand-alone value to the customer and, in arrangements that include a general right of return relative to the delivered element, performance of the undelivered element is considered probable and substantially in the Company’s control. The selling price for a deliverable is based on vendor-specific objective evidence of selling price (VSOE), if available, third-party evidence of selling price (TPE), if VSOE is not available, or best estimated selling price (BESP), if neither VSOE nor TPE is available. The deliverables in our arrangements with multiple elements include various products and may include related services, such as installation and start-up services. For multiple element arrangements entered into or materially modified after adoption of the revised multiple element arrangement guidance, we allocate arrangement consideration based on the relative selling prices of the separate units of accounting determined in accordance with the hierarchy described above. For deliverables that are sold separately, we establish VSOE based on the price when the deliverable is sold separately. We establish TPE, generally for services, based on prices similarly situated customers pay for similar services from third party vendors. For those deliverables for which we are unable to establish VSOE or TPE, we estimate the selling price considering various factors including market and pricing trends, geography, product customization, and profit objectives. Revenue allocated to products and services are generally recognized as the products are delivered and the services are performed, provided all other revenue recognition criteria have been satisfied. The adoption of ASU 2009-13 did not result in a material change in either the units of accounting or the pattern or timing of revenue recognition. Additionally, the adoption of the revised multiple element arrangement guidance did not have a material impact on our financial condition, results of operations or cash flows.
ASU No. 2009-14	In October 2009, the FASB issued ASU No. 2009-14, which amended the accounting requirements for software revenue recognition. The objective of this update is to address the accounting for revenue arrangements that contain tangible products and software. Specifically, products that contain software that is “more than incidental” to the product as a whole will be removed from the scope of the software revenue recognition literature. The amendments align the accounting for these revenue transaction types with the amendments described under ASU 2009-13 above. We adopted the provisions of this ASU for new or materially modified arrangements entered into on or after January 1, 2011 on a prospective basis. The adoption of this ASU did not have a material impact on our financial condition, results of operations or cash flows.
ASU No. 2010-17	In April 2010, the FASB issued ASU No. 2010-17, which establishes authoritative guidance permitting use of the milestone method of revenue recognition for research or development arrangements that contain payment provisions or consideration contingent on the achievement of specified events. On January 1, 2011, we adopted the provisions of this ASU on a prospective basis. The adoption of this ASU did not have a material impact on our financial condition, results of operations or cash flows.

Company Transformation (Tables)

3 Months Ended

Mar. 31, 2011

Company Transformation (Tables) [Abstract]

Components of transformation costs

<div align="left" style="font-size: 10pt; font-family: Arial, Helvetica"> <div style="margin-top: 6pt; font-size: 1pt"> </div> <table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left">  <tr style="font-size: 1pt" valign="bottom"> <td width="87%"> </td> <td width="3%"> </td> <td width="1%" align="right"> </td> <td width="8%" align="right"> </td> <td width="1%" align="left"> </td> </tr>    <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> <div style="text-indent: -10pt; margin-left: 10pt"> Transformation Costs: </div> </td> <td style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -5pt; margin-left: 10pt"> Asset impairments </div> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> $ </td> <td nowrap="nowrap" align="right" valign="bottom"> 55 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -5pt; margin-left: 10pt"> Advisory fees </div> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 22 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -5pt; margin-left: 10pt"> Other costs </div> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 8 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> <td style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -10pt; margin-left: 10pt"> Total transformation costs </div> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> $ </td> <td nowrap="nowrap" align="right" valign="bottom"> 85 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> <td style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td align="left" valign="bottom"> <div style="text-indent: -10pt; margin-left: 10pt"> Total costs incurred to date </div> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> $ </td> <td nowrap="nowrap" align="right" valign="bottom"> 87 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> <td style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000"> </td> </tr> </table> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> </div> </div>

Cost,which is not included in segment reporting


Transformation accrual – 12/31	$	2
Charges for actions during the period		85
Cash payments		(15	)
Asset impairment		(55	)

Transformation accrual – 3/31	$	17

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2011

Earning Per Share (Tables) [Abstract]

Earnings Per Share


	2011		2010
Income from continuing operations	$	126	$	144

Weighted average common shares outstanding		183.6		181.8
Add: Weighted average restricted stock awards outstanding^(a)		1.4		1.5

Basic weighted average common shares outstanding		185.0		183.3
Add: Dilutive impact of stock options		1.5		1.6

Diluted weighted average common shares outstanding		186.5		184.9

Basic earnings per share from continuing operations	$	0.68	$	0.78
Diluted earnings per share from continuing operations	$	0.67	$	0.78


(a)		Restricted stock awards containing rights to non-forfeitable dividends which participate in undistributed earnings with common shareholders are considered participating securities for purposes of computing earnings per share.

Number of shares underlying stock options excluded from the computation of diluted earnings


	2011		2010
Anti-dilutive stock options		1.2		1.8
Average exercise price	$	56.28	$	54.62

Years of expiration		2014-2021		2012- 2020

Receivables, Net (Tables)

3 Months Ended

Mar. 31, 2011

Receivables, Net (Tables) [Abstract]

Receivables, Net


	March 31,			December 31,
	2011			2010
Trade accounts receivable	$	1,597		$	1,579
Unbilled contract receivable		475			367
Other		47			47

Receivables, gross		2,119			1,993
Allowance for doubtful accounts		(41	)		(42	)
Allowance for cash discounts		(3	)		(7	)

Receivables, net	$	2,075		$	1,944

Inventories, Net (Tables)

3 Months Ended

Mar. 31, 2011

Inventories, Net (Tables) [Abstract]

Inventories, Net


	March 31,			December 31,
	2011			2010
Finished goods	$	231		$	231
Work in process		117			88
Raw materials		358			317

		706			636
Inventoried costs related to long-term contracts		326			296
Less – progress payments		(82	)		(76	)

Inventoried costs related to long-term contracts, net		244			220

Inventories, net	$	950		$	856

Other Current and Non-Current Assets (Tables)

3 Months Ended

Mar. 31, 2011

Other Current and Non-Current Asset (Tables) [Abstract]

Other Current and Non-Current Asset


	March 31,		December 31,
	2011		2010
Current deferred income taxes	$	282	$	280
Asbestos-related current assets		105		105
Other		224		177

Other current assets	$	611	$	562

Deferred income tax	$	552	$	554
Other employee benefit-related assets		109		106
Capitalized software costs		71		118
Other		72		88

Other non-current assets	$	804	$	866

Plant, Property and Equipment, Net (Tables)

3 Months Ended

Mar. 31, 2011

Plant, Property and Equipment, Net [Abstract]

Plant, Property and Equipment, Net


	March 31,			December 31,
	2011			2010
Land and improvements	$	61		$	59
Buildings and improvements		657			642
Machinery and equipment		1,895			1,809
Equipment held for lease or rental		140			132
Furniture, fixtures and office equipment		241			231
Construction work in progress		122			160
Other		32			29

Plant, property and equipment, gross		3,148			3,062
Less – accumulated depreciation		(1,941	)		(1,857	)

Plant, property and equipment, net	$	1,207		$	1,205

Depreciation expense of $55 and $44 was recognized in the quarter ended March 31, 2011 and 2010, respectively.

Goodwill and Other Intangible Assets, Net (Tables)

3 Months Ended

Mar. 31, 2011

Goodwill and Other Intangible Assets, Net (Tables) [Abstract]

Changes in the carrying amount of goodwill


					MOTION &
	DEFENSE		FLUID		FLOW		TOTAL
Goodwill — 12/31	$	2,156	$	1,634	$	487	$	4,277
Foreign currency		—		35		6		41

Goodwill — 3/31	$	2,156	$	1,669	$	493	$	4,318

Other intangible assets


	MARCH 31, 2011							DECEMBER 31, 2010
	GROSS							GROSS
	CARRYING		ACCUMULATED			NET		CARRYING		ACCUMULATED			NET
	AMOUNT		AMORTIZATION			INTANGIBLES		AMOUNT		AMORTIZATION			INTANGIBLES
Customer and distributor relationships	$	863	$	(331	)	$	532	$	855	$	(312	)	$	543
Proprietary technology		111		(39	)		72		109		(35	)		74
Trademarks		36		(11	)		25		35		(10	)		25
Patents and other		33		(19	)		14		32		(18	)		14
Indefinite-lived intangibles		113		—			113		110		—			110

Other Intangible Assets	$	1,156	$	(400	)	$	756	$	1,141	$	(375	)	$	766

Estimated amortization expense related to intangible assets


Remaining 2011	$	71
2012		76
2013		61
2014		56
2015		52
2016		48

Total	$	364

Accrued and Other Current Liabilities and Other Non-Current Liabilities (Tables)

3 Months Ended

Mar. 31, 2011

Accrued and Other Current Liabilities and Other Non-Current Liabilities (Tables) [Abstract]

Accrued Liabilities and Other Non-Current Liabilities, Net


	March 31,		December 31,
	2011		2010
Compensation and other employee-benefits	$	558	$	625
Customer advances and deferred revenue		513		478
Asbestos-related liability		117		117
Other accrued liabilities		515		494

Accrued and other current liabilities	$	1,703	$	1,714

Deferred income taxes and other tax-related accruals	$	186	$	179
Environmental		127		128
Compensation and other employee-related benefits		127		117
Product liability, guarantees and other legal matters		52		52
Other		56		66

Other non-current liabilities	$	548	$	542

Debt (Tables)

3 Months Ended

Mar. 31, 2011

Debt (Tables) [Abstract]

Debt


	March 31,			December 31,
	2011			2010
Commercial paper	$	70		$	-
Short-term loans		5			1
Current maturities of long-term debt and other		10			10

Short-term borrowings and current maturities of long-term debt		85			11

Non-current maturities of long-term debt		1,314			1,314
Non-current capital leases		4			3
Deferred gain on interest rate swaps		44			45
Unamortized discounts and debt issuance costs		(8	)		(8	)

Long-term debt		1,354			1,354

Total debt	$	1,439		$	1,365

Postretirement Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2011

Postretirement Benefit Plans (Tables) [Abstract]

Net periodic benefit cost and other amounts recognized in other comprehensive income (loss) of pension plans and other employee related benefit plans


	2011															2010

							Total			Other												Total			Other
	U.S.			Int’l			Pension			Benefits			Total			U.S.			Int’l			Pension			Benefits			Total
Net periodic benefit cost
Service cost	$	29		$	4		$	33		$	1		$	34		$	27		$	4		$	31		$	2		$	33
Interest cost		74			8			82			10			92			77			7			84			10			94
Expected return on plan assets		(102	)		(7	)		(109	)		(6	)		(115	)		(104	)		(6	)		(110	)		(6	)		(116	)
Amortization of net actuarial loss		27			1			28			3			31			20			1			21			3			24
Amortization of prior service cost		1			—			1			—			1			1			—			1			—			1

Net periodic benefit cost (income)		29			6			35			8			43			21			6			27			9			36

Long-Term Incentive Employee Compensation (Tables)

3 Months Ended

Mar. 31, 2011

Long-Term Incentive Employee Compensation (Tables) [Abstract]

Long-Term Incentive Employee Compensation


	2011		2010
Compensation costs on equity-based awards	$	7	$	8
Compensation costs on liability-based awards		3		2

Total compensation costs, pre-tax	$	10	$	10

Future tax benefit	$	3	$	3

Weighted-average assumptions


Dividend yield		1.73	%
Expected volatility		24.75	%
Expected life (in years)		7.0
Risk-free rates		3.06	%
Weighted-average grant date fair value	$	14.86

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2011

Commitments and Contingencies (Tables) [Abstract]

Roll forward of asbestos claims


	2011^(a)
Pending claims – 12/31		103,575
New claims		1,339
Settlements		(475	)
Dismissals		(761	)

Pending claims – 3/31		103,678


(a)		In September 2010, ITT executed an amended cost-sharing agreement related to a business we disposed of a number of years ago. The amended agreement provides for a sharing of costs for claims resolved between 2010 and 2019 naming ITT or the entity which acquired the disposed business. Claim activity associated with the amended cost-sharing agreement for claims that were not filed against ITT are excluded from the table above.

Net asbestos charges


	2011				2010

	Pre-tax		After-tax		Pre-tax		After-tax
Continuing operations	$	16	$	10	$	15	$	10
Discontinued operations		3		2		1		1

Total	$	19	$	12	$	16	$	11

Roll forward of asbestos liability and related assets


	Liability			Asset			Net
Balance as of 12/31	$	1,676		$	1,035		$	641
Changes in estimate during the period:
Continuing operations		21			5			16
Discontinued operations		7			4			3
Net cash activity		(15	)		(8	)		(7	)

Balance as of 3/31	$	1,689		$	1,036		$	653

Segment Information (Tables)

3 Months Ended

Mar. 31, 2011

Segment Information (Tables) [Abstract]

Business Segment Information


	Product			Service		Total			Product			Service		Total
	Revenue			Revenue		Revenue			Revenue			Revenue		Revenue
Three Months Ended March 31	2011								2010
Defense	$	683		$	658	$	1,341		$	801		$	592	$	1,393
Fluid		945			47		992			768			31		799
Motion & Flow		428			2		430			386			2		388
Eliminations		(3	)		—		(3	)		(2	)		—		(2	)

Total	$	2,053		$	707	$	2,760		$	1,953		$	625	$	2,578


	Operating Income						Operating Margin

Three Months Ended March 31	2011			2010			2011			2010
Defense	$	137		$	141			10.2	%		10.1	%
Fluid		124			91			12.5	%		11.4	%
Motion & Flow		65			55			15.1	%		14.2	%
Corporate and Other		(138	)		(42	)		—			—

Total	$	188		$	245			6.8	%		9.5	%


					Plant, Property &				Capital				Depreciation &
	Total Assets				Equipment, Net				Expenditures				Amortization

Three Months Ended March 31	2011		2010^(a)		2011		2010^(a)		2011		2010		2011		2010
Defense	$	4,239	$	4,149	$	426	$	434	$	12	$	29	$	33	$	33
Fluid		4,339		4,055		521		518		21		11		34		20
Motion & Flow		1,438		1,372		237		230		9		9		14		13
Corporate and Other		2,710		2,862		23		23		5		3		3		2

Total	$	12,726	$	12,438	$	1,207	$	1,205	$	47	$	52	$	84	$	68


^(a)		Amounts reflect balances as of December 31, 2010.

Company Transformation (Details) - USD ($) $ in Millions	3 Months Ended
Company Transformation (Details) - USD ($) $ in Millions	Mar. 31, 2011	Mar. 31, 2010
Transformation Costs
Asset impairments	$ 55
Advisory fees	22
Other costs	8
Transformation costs	85	$ 0
Total costs incurred to date	$ 87

Company Transformation (Details 1) - USD ($) $ in Millions	3 Months Ended
Company Transformation (Details 1) - USD ($) $ in Millions	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Cost,which is not included in segment reporting
Transformation Accrual Beginning Balance			$ 2
Charges for actions during the period	$ 85	$ 0
Cash payment	(15)
Asset impairments	(55)
Transformation Accrual Ending Balance	17
Company Transformation (Textuals) [Abstract]
Transformation costs	85	$ 0
Non-cash impairment charge	55
Estimated transformation cost	$ 500

Acquisitions and Divestitures (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Sep. 30, 2010	Mar. 23, 2010
Acquisitions and Divestitures (Textuals) [Abstract]
Net of cash acquired, on acquisitions	$ 0	$ 391
Revenue (third party) from CAS		57
Pre-tax operating income from CAS		$ 4
Nova Analytics Corporation
Business Acquisition [Line Items]
Aggregate Purchase price				$ 385
Godwin
Business Acquisition [Line Items]
Aggregate Purchase price			$ 580

Restructuring and Asset Impairment Charges (Details Textual) - 2010 Defense Segment Realignment Activities [Member] $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2011 USD ($)	Mar. 31, 2010 USD ($)	Dec. 31, 2010 USD ($)
Restructuring and Asset Impairment Charges (Textuals) [Abstract]
Total headcount reduction	642
Reduction of factory workers	162
Reduction of office workers	457
Reduction of management employees	23
Estimated yield in annual net savings	$ 61
Restructuring charge related strategic realignment of Defense segment	5	$ 12	$ 27
Remaining severance liability related to the realignment action	$ 5

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2011	Mar. 31, 2010
Income Taxes (Textuals) [Abstract]
Income tax expense	$ 45	$ 75
Income tax benefit related to separation related cost	23
Income tax credit related to separation related cost	$ 6
Discrete income tax charge		$ 12
Effective tax rate	26.30%	34.20%

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Earnings Per Share
Income from continuing operations	$ 126	$ 144
Weighted average common shares outstanding	183.6	181.8
Add: Weighted average restricted stock awards outstanding (a)	1.4	1.5
Basic weighted average common shares outstanding	185.0	183.3
Add: Dilutive impact of stock options	1.5	1.6
Diluted weighted average common shares outstanding	186.5	184.9
Basic earnings per share from continuing operations	$ 0.68	$ 0.78
Diluted earnings per share from continuing operations	$ 0.67	$ 0.78

Earnings Per Share (Details 1) - USD ($) shares in Millions	3 Months Ended
Earnings Per Share (Details 1) - USD ($) shares in Millions	Mar. 31, 2011	Mar. 31, 2010
Number of shares underlying stock options excluded from the computation of diluted earnings
Anti-dilutive stock options	1.2	1.8
Average exercise price	$ 56.28	$ 54.62
Years of expiration	2014-2021	2012-2020

Receivables, Net (Details) - USD ($) $ in Millions	Mar. 31, 2011	Dec. 31, 2010
Receivables, Net
Trade accounts receivable	$ 1,597	$ 1,579
Unbilled contract receivables	475	367
Other	47	47
Receivables, gross	2,119	1,993
Allowance for doubtful accounts	(41)	(42)
Allowance for cash discounts	(3)	(7)
Receivables, net	2,075	1,944
Government [Member]
Receivables, Net (Textuals) [Abstract]
Outstanding accounts receivable balance from the U.S. Government	$ 850	$ 806

Inventories, Net (Details) - USD ($) $ in Millions	Mar. 31, 2011	Dec. 31, 2010
Inventories, Net
Finished goods	$ 231	$ 231
Work in process	117	88
Raw materials	358	317
Inventory Gross Total	706	636
Inventoried costs related to long-term contracts	326	296
Less - progress payments	(82)	(76)
Inventoried costs related to long-term contracts, net	244	220
Inventories, net	$ 950	$ 856

Other Current and Non-Current Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Dec. 31, 2010
Other Current and Non Current Assets (Textuals) [Abstract]
Capitalized software impairment charge	$ 55
Other Current and Non-Current Assets
Current deferred income taxes	282	$ 280
Asbestos-related current assets	105	105
Other	224	177
Other current assets	611	562
Deferred income tax	552	554
Other employee benefit-related assets	109	106
Capitalized software costs	71	118
Other	72	88
Other non-current assets	$ 804	$ 866

Plant, Property and Equipment, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Plant, Property and Equipment, Net
Land and improvements	$ 61		$ 59
Buildings and improvements	657		642
Machinery and equipment	1,895		1,809
Equipment held for lease or rental	140		132
Furniture, fixtures and office equipment	241		231
Construction work in progress	122		160
Other	32		29
Plant, property and equipment, gross	3,148		3,062
Less - accumulated depreciation and amortization	(1,941)		(1,857)
Plant, property and equipment, net	1,207		$ 1,205
Plant Property And Equipment, Net (Textuals) [Abstract]
Recognized depreciation expense	$ 55	$ 44

Goodwill and Other Intangible Assets, Net (Details) $ in Millions	3 Months Ended
	Mar. 31, 2011 USD ($)
Changes in Carrying Amount of Goodwill
Beginning Balance	$ 4,277
Foreign currency	41
Ending Balance	4,318
Defense [Member]
Changes in Carrying Amount of Goodwill
Beginning Balance	2,156
Foreign currency	0
Ending Balance	2,156
Fluid [Member]
Changes in Carrying Amount of Goodwill
Beginning Balance	1,634
Foreign currency	35
Ending Balance	1,669
Motion & Flow [Member]
Changes in Carrying Amount of Goodwill
Beginning Balance	487
Foreign currency	6
Ending Balance	$ 493

Goodwill and Other Intangible Assets, Net (Details 1) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Carrying Amount of Other Intangible Assets, Net
Indefinite-lived intangible assets, gross carrying amount	$ 113		$ 110
Accumulated Amortization	0		0
Indefinite-lived intangible assets, net intangibles	113		110
Intangibles, Gross carrying amount	1,156		1,141
Intangibles, Accumulated amortization	(400)		(375)
Other intangible assets, net	756		766
Estimated amortization expense related to intangible assets
Remaining 2011	71
2012	76
2013	61
2014	56
2015	52
2016	48
Total	364
Additional expenses related to goodwill and intangible assets
Amortization expense related to finite-lived intangible assets	22	$ 20
Distributor and customer relationships [Member]
Carrying Amount of Other Intangible Assets, Net
Finite-lived intangible assets, gross carrying amount	863		855
Accumulated Amortization	(331)		(312)
Finite-lived intangible assets, net intangibles	532		543
Proprietary technology [Member]
Carrying Amount of Other Intangible Assets, Net
Finite-lived intangible assets, gross carrying amount	111		109
Accumulated Amortization	(39)		(35)
Finite-lived intangible assets, net intangibles	72		74
Patents and other [Member]
Carrying Amount of Other Intangible Assets, Net
Finite-lived intangible assets, gross carrying amount	33		32
Accumulated Amortization	(19)		(18)
Finite-lived intangible assets, net intangibles	14		14
Trademarks [Member]
Carrying Amount of Other Intangible Assets, Net
Finite-lived intangible assets, gross carrying amount	36		35
Accumulated Amortization	(11)		(10)
Finite-lived intangible assets, net intangibles	$ 25		$ 25

Accrued and Other Current Liabilities and Other Non Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2011	Dec. 31, 2010
Accrued Liabilities and Other Non-Current Liabilities, Net
Compensation and other employee-benefits	$ 558	$ 625
Customer advances and deferred revenue	513	478
Asbestos-related liability	117	117
Other accrued liabilities	515	494
Accrued and other current liabilities	1,703	1,714
Deferred income taxes and other tax-related accruals	186	179
Environmental	127	128
Compensation and other employee-related benefits	127	117
Product liability, guarantees and other legal matters	52	52
Other	56	66
Other non-current liabilities	$ 548	542
Accrued and Other Current Liabilities and Other Non-Current Liabilities (Textuals) [Abstract]
Reclassification of accounts payable to accrued and other current liabilities		$ 452

Debt (Details) - USD ($) $ in Millions	Mar. 31, 2011	Dec. 31, 2010
Debt
Commercial paper	$ 70	$ 0
Short-term loans	5	1
Current maturities of long-term debt and other	10	10
Short-term borrowings and current maturities of long-term debt	85	11
Non-current maturities of long-term debt	1,314	1,314
Non-current capital leases	4	3
Deferred gain on interest rate swaps	44	45
Unamortized discounts and debt issuance costs	(8)	(8)
Long-term debt	1,354	1,354
Unamortized discounts and debt issuance costs	(8)	(8)
Total debt	$ 1,439	$ 1,365

Debt (Details Textual) - USD ($) $ in Millions	Mar. 31, 2011	Dec. 31, 2010
Debt (Textuals) [Abstract]
Fair value of total debt, excluding the deferred gain on interest rate swaps	$ 1,547	$ 1,483

Postretirement Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Net periodic benefit cost
Service cost	$ 34	$ 33
Interest cost	92	94
Expected return on plan assets	(115)	(116)
Amortization of net actuarial loss	31	24
Amortization of prior service cost	1	1
Net periodic benefit cost (income)	43	36
U.S. Pension Plans [Member]
Net periodic benefit cost
Service cost	29	27
Interest cost	74	77
Expected return on plan assets	(102)	(104)
Amortization of net actuarial loss	27	20
Amortization of prior service cost	1	1
Net periodic benefit cost (income)	29	21
International Pension Plan [Member]
Net periodic benefit cost
Service cost	4	4
Interest cost	8	7
Expected return on plan assets	(7)	(6)
Amortization of net actuarial loss	1	1
Amortization of prior service cost	0	0
Net periodic benefit cost (income)	6	6
Total Pension Exlcuding Other Benefits (Member)
Net periodic benefit cost
Service cost	33	31
Interest cost	82	84
Expected return on plan assets	(109)	(110)
Amortization of net actuarial loss	28	21
Amortization of prior service cost	1	1
Net periodic benefit cost (income)	35	27
Other Benefits [Member]
Net periodic benefit cost
Service cost	1	2
Interest cost	10	10
Expected return on plan assets	(6)	(6)
Amortization of net actuarial loss	3	3
Amortization of prior service cost	0	0
Net periodic benefit cost (income)	$ 8	$ 9

Postretirement Benefit Plans (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Pension [Member]
Employee Benefit Plans (Additional) (Textuals) [Abstract]
Contributions made to pension plans	$ 11	$ 2
Minimum [Member]
Employee Benefit Plans (Additional) (Textuals) [Abstract]
Contribution to range related to pension	80
Maximum [Member]
Employee Benefit Plans (Additional) (Textuals) [Abstract]
Contribution to range related to pension	$ 100

Long-Term Incentive Employee Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Long-Term Incentive Employee Compensation Expense
Compensation costs on equity-based awards	$ 7	$ 8
Compensation costs on liability-based awards	3	2
Total compensation costs, pre-tax	10	10
Future tax benefit	$ 3	$ 3

Long-Term Incentive Employee Compensation (Details 1)	3 Months Ended
Long-Term Incentive Employee Compensation (Details 1)	Mar. 31, 2011 USD ($)
Weighted-average assumptions
Dividend yield	1.73%
Expected volatility	24.75%
Expected life (in years)	7
Risk-free rates	3.06%
Grants awards, NOQs	$ 14.86

Long-Term Incentive Employee Compensation (Details 2) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2011 USD ($) $ / shares shares	Mar. 10, 2011 shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Cash payments to settle awards \| $	$ 18
Long-Term Incentive Employee Compensation (Textuals) [Abstract]
Unrecognized compensation cost related to unvested options and restricted stock \| $	$ 73
Unrecognized compensation cost weighted average amortization period (years)	2.2
Cash payments to settle awards \| $	$ 18
Shares of RS on which restrictions lapsed \| shares		0.3
Proceeds from stock options exercised \| $	$ 33
Stock options exercised \| shares	0.8
Non Qualified Stock Options [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Grants awards \| shares	0.7
Grant date fair value \| $ / shares	$ 14.86
Restricted Stock [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Grants awards \| shares	0.5
Grant date fair value \| $ / shares	$ 57.68
TSR Plan Awards [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Total unrecognized compensation cost \| $	$ 16
Unrecognized compensation cost weighted average amortization period (years)	2.5
Grants awards \| shares	10.8
Grant date fair value \| $ / shares	$ 1.00

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2011 USD ($)	Mar. 31, 2010 USD ($)	Mar. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Activity related to asbestos claims
Pending claims, Beginning balance	103,575
New claims	1,339
Settlements	(475)
Dismissals	(761)
Pending claims, Ending balance	103,678
Net asbestos charges
Continuing operations, pre-tax	$ 16	$ 15
Continuing operations, after-tax	10	10
Discontinued operations, pre-tax	3	1
Discontinued operations, after-tax	2	1
Total, pre-tax	19	16
Total, after-tax	12	$ 11
Activity related to asbestos liability and related assets
Beginning balance	641
Changes in estimate during the period:
Changes in estimates during the period continuing operation, Liability	21
Changes in estimates during the period continuing operations, Assets	5
Changes in estimates during period continuing operations, net	16
Changes in estimates during period discontinued operations, Liability	7
Changes in estimates during period discontinued operations, Assets	4
Changes in estimates during period Discontinued operations, net	3
Net cash activity	7
Ending balance	$ 653
Commitments and Contingencies (Textuals) [Abstract]
Number of open claims against ITT alleging injury as a result of exposure to asbestos	103,575		103,678	103,575
Number of claims with large majority pending against the company			103,801
Number of claims in Mississippi placed on inactive dockets	39,680
Total asbestos liability, current			$ 117	$ 117
Total asbestos asset, current			105	105
Estimated asbestos exposure, net of expected recoveries from insurers and other responsible parties			$ 653	$ 641
Asset [Member]
Activity related to asbestos liability and related assets
Beginning Balance, Asset	$ 1,035
Changes in estimate during the period:
Net cash activity, Asset	8
Ending balance	1,036
Liability [Member]
Activity related to asbestos liability and related assets
Beginning Balance, Liability	1,676
Changes in estimate during the period:
Average payment per resolved claim	(15)
Ending Balance, Liability	$ 1,689

Commitments and Contingencies (Details 1) $ in Millions	3 Months Ended
Commitments and Contingencies (Details 1) $ in Millions	Mar. 31, 2011 USD ($)	Mar. 27, 2007
Commitments and Contingencies (Textuals) [Abstract]
Night Vision ITAR Violation Settlement; Fines, Forfeitures and Penalties	$ (50)
Night Vision ITAR Violation Settlement; Deferred Prosecution Monetary Penalty	$ 50
Number of Itar Violations the Company Pled Guilty To		2
Period for Deferred Prosecution Monetary Penalty	5

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Business Segment Information
Product Revenue	$ 2,053	$ 1,953
Service Revenue	707	625
Total Revenue	2,760	2,578
Operating Income	$ 188	$ 245
Operating Margin	6.80%	9.50%
Total Assets	$ 12,726		$ 12,438
Plant, Property & Equipment, Net	1,207		1,205
Capital Expenditures	47	$ 52
Depreciation & Amortization	84	68
Defense [Member]
Business Segment Information
Product Revenue	683	801
Service Revenue	658	592
Total Revenue	1,341	1,393
Operating Income	$ 137	$ 141
Operating Margin	10.20%	10.10%
Total Assets	$ 4,239		4,149
Plant, Property & Equipment, Net	426		434
Capital Expenditures	12	$ 29
Depreciation & Amortization	$ 33	33
Segment Information (Textuals) [Abstract]
Percentage of revenue generated from U.S. Government	88.00%
Fluid [Member]
Business Segment Information
Product Revenue	$ 945	768
Service Revenue	47	31
Total Revenue	992	799
Operating Income	$ 124	$ 91
Operating Margin	12.50%	11.40%
Total Assets	$ 4,339		4,055
Plant, Property & Equipment, Net	521		518
Capital Expenditures	21	$ 11
Depreciation & Amortization	34	20
Motion & Flow [Member]
Business Segment Information
Product Revenue	428	386
Service Revenue	2	2
Total Revenue	430	388
Operating Income	$ 65	$ 55
Operating Margin	15.10%	14.20%
Total Assets	$ 1,438		1,372
Plant, Property & Equipment, Net	237		230
Capital Expenditures	9	$ 9
Depreciation & Amortization	14	13
Eliminations [Member]
Business Segment Information
Product Revenue	(3)	(2)
Service Revenue	0	0
Total Revenue	(3)	(2)
Corporate and Other [Member]
Business Segment Information
Operating Income	$ (138)	$ (42)
Operating Margin	0.00%	0.00%
Total Assets	$ 2,710		2,862
Plant, Property & Equipment, Net	23		$ 23
Capital Expenditures	5	$ 3
Depreciation & Amortization	$ 3	$ 2