ITT (ITT) 10-Q 8 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	3 Months Ended
	Mar. 31, 2017	May 05, 2017
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	ITT
Entity Registrant Name	ITT INC.
Entity Central Index Key	216,228
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		88.7

CONSOLIDATED CONDENSED INCOME S

CONSOLIDATED CONDENSED INCOME STATEMENTS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Revenue	$ 625.8	$ 609.1
Costs of revenue	423.5	413.8
Gross profit	202.3	195.3
General and administrative expenses	66.2	69
Sales and marketing expenses	43.1	43.3
Research and development expenses	22.5	19.2
Asbestos-related costs, net	14.9	12.8
Operating income	55.6	51
Interest and non-operating expenses, net	0.8	1.7
Income from continuing operations before income tax expense	54.8	49.3
Income tax expense	9.1	11.7
Income from continuing operations	45.7	37.6
Loss from discontinued operations, net of tax	(0.1)	(0.3)
Net income	45.6	37.3
Less: Loss attributable to noncontrolling interests	(0.4)	(0.1)
Net income attributable to ITT Inc.	46	37.4
Amounts attributable to ITT Inc.:
Income from continuing operations, net of tax	46.1	37.7
Loss from discontinued operations, net of tax	(0.1)	(0.3)
Net income attributable to ITT Inc.	$ 46	$ 37.4
Basic:
Continuing operations	$ 0.52	$ 0.42
Discontinued operations	0	0
Net income	0.52	0.42
Diluted:
Continuing operations	0.52	0.42
Discontinued operations	0	(0.01)
Net income	$ 0.52	$ 0.41
Weighted average common shares – diluted	89.2	90.5
Cash dividends declared per common share	$ 0.128	$ 0.124

CONSOLIDATED CONDENSED INCOME 3

CONSOLIDATED CONDENSED INCOME STATEMENTS (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Tax benefit on income from discontinued operations	$ 0.1	$ 0.3

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 45.6	$ 37.3
Other comprehensive income:
Net foreign currency translation adjustment	19.2	27.2
Net change in postretirement benefit plans, net of tax impacts of $0.5 and $0.6, respectively	1.1	1.1
Other comprehensive income	20.3	28.3
Comprehensive income	65.9	65.6
Less: Comprehensive loss attributable to noncontrolling interests	(0.4)	(0.1)
Comprehensive income attributable to ITT Inc.	66.3	65.7
Reclassification adjustments (see Note 14):
Amortization of prior service benefit, net of tax expense of $(0.5) and $(0.5), respectively	(0.7)	(0.9)
Amortization of net actuarial loss, net of tax benefits of $1.0 and $1.1, respectively	1.8	2
Net change in postretirement benefit plans, net of tax impacts of $0.5 and $0.6, respectively	$ 1.1	$ 1.1

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENT OF COMPREHENSIVE INCOME (Parenthetical) (Parentheticals) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent	$ 0.5	$ 0.6
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax	(0.5)	(0.5)
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Tax	$ 1	$ 1.1

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 348.5	$ 460.7
Receivables, net	576.9	523.9
Inventories, net	311.5	295.2
Total current assets	142	122
Total current assets	1,378.9	1,401.8
Plant, property and equipment, net	481.5	464.5
Goodwill	865.7	774.7
Other intangible assets, net	156.7	160.3
Asbestos-related assets	301.3	314.6
Deferred income taxes	300.2	297.4
Other non-current assets	186.1	188.4
Total non-current assets	2,291.5	2,199.9
Total assets	3,670.4	3,601.7	[1]
Current liabilities:
Short-term loans and current maturities of long-term debt	213.1	214.3
Accounts payable	313.6	301.7
Accrued liabilities	359.1	350.2
Total current liabilities	885.8	866.2
Asbestos-related liabilities	866.6	877.5
Postretirement benefits	251.9	248.6
Other non-current liabilities	174.1	181
Total non-current liabilities	1,292.6	1,307.1
Total liabilities	2,178.4	2,173.3
Shareholders’ equity:
Issued and Outstanding – 88.7 shares and 88.4 shares, respectively	88.7	88.4
Retained earnings	1,832.6	1,789.2
Total accumulated other comprehensive loss	(430.9)	(451.2)
Total ITT Inc. shareholders' equity	1,490.4	1,426.4
Noncontrolling interests	1.6	2
Total shareholders’ equity	1,492	1,428.4
Total liabilities and shareholders’ equity	$ 3,670.4	$ 3,601.7
[1]	Amounts reflect balances as of December 31, 2016

CONSOLIDATED CONDENSED BALANCE7

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, shares authorized	250	250
Common stock, par value	$ 1	$ 1
Common stock, shares issued	88.7	88.4
Common stock, shares outstanding	88.7	88.4

CONSOLIDATED CONDENSED STATEME8

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating Activities
Net income	$ 45.6	$ 37.3
Less: Loss from discontinued operations	(0.1)	(0.3)
Less: Loss attributable to noncontrolling interests	(0.4)	(0.1)
Income from continuing operations attributable to ITT Inc.	46.1	37.7
Adjustments to income from continuing operations:
Depreciation and amortization	24.8	25.3
Stock-based compensation	3.7	2.9
Asbestos-related costs, net	14.9	12.8
Asbestos-related payments, net	(13)	(4.3)
Changes in assets and liabilities:
Change in receivables	(34.7)	(21)
Change in inventories	(1.6)	(4)
Change in accounts payable	2.5	(14.8)
Change in accrued expenses	(3.5)	(28.8)
Change in accrued and deferred income taxes	(4.6)	3.4
Other, net	(7.5)	(3.5)
Net Cash – Operating activities	27.1	5.7
Investing Activities
Capital expenditures	(36.7)	(21)
Acquisitions, net of cash acquired	(113.7)	(0.2)
Purchases of investments	0	(40)
Maturities of investments	0	36.3
Other, net	(0.3)	(0.1)
Net Cash – Investing activities	(150.1)	(24.8)
Financing Activities
Commercial paper, net borrowings	(1.5)	28.5
Short-term revolving loans, borrowings	0	27.7
Short-term revolving loans, repayments	0	(27.7)
Long-term debt, issued	2.1	0
Long-term debt, repayments	(0.3)	(0.3)
Repurchase of common stock	(2.3)	(6.9)
Proceeds from issuance of common stock	5.9	6.1
Dividends paid	(0.2)	(11.4)
Excess tax benefit from equity compensation activity	0	3
Other, net	0	(2.1)
Net Cash – Financing activities	3.7	16.9
Exchange rate effects on cash and cash equivalents	7.9	9.9
Net Cash – Operating activities of discontinued operations	(0.8)	7.5
Net change in cash and cash equivalents	(112.2)	15.2
Cash and cash equivalents – beginning of year	460.7	415.7
Cash and cash equivalents – end of period	348.5	430.9
Cash paid during the year for:
Interest	1	1.4
Income taxes, net of refunds received	$ 13.2	$ 5

CONSOLIDATED CONDENSED STATEME9

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREDHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]
Total shareholders' equity, beginning balance at Dec. 31, 2015	$ 1,365.4	$ 89.5	$ 1,696.7		$ 3.3
Postretirement benefit plans, beginning balance at Dec. 31, 2015				$ (153.7)
Cumulative translation adjustment, beginning balance at Dec. 31, 2015				(270.1)
Unrealized loss on investment securities, beginning balance at Dec. 31, 2015				(0.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity from stock incentive plans		0.7
Cumulative adjustment for accounting change (See Note 2)			0
Net income attributable to ITT Inc.	37.4		37.4
Dividends declared			(11.2)
Activity from stock incentive plans			11.4
Share repurchases		(0.2)	(6.7)
Purchase of noncontrolling interest			0.4		(0.4)
Net change in postretirement benefit plans	1.1			1.1
Net cumulative translation adjustment				27.2
Loss attributable to noncontrolling interests	0.1				(0.1)
Dividend to noncontrolling interest shareholders					(1.9)
Change In Equity From Noncontrolling Interest Attributable To Other					(0.2)
Postretirement benefit plans, ending balance at Mar. 31, 2016				(152.6)
Cumulative translation adjustment, ending balance at Mar. 31, 2016				(242.9)
Unrealized loss on investment securities, ending balance at Mar. 31, 2016				(0.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net change in common stock		0.5
Net change in retained earnings			30.5
Net change in accumulated other comprehensive loss				28.3
Net change in noncontrolling interests					(1.8)
Total shareholders' equity, ending balance at Mar. 31, 2016	1,422.9	90	1,727.2	(395.8)	1.5
Total shareholders' equity, beginning balance at Dec. 31, 2016	1,428.4	88.4	1,789.2		2
Postretirement benefit plans, beginning balance at Dec. 31, 2016				(145.2)
Cumulative translation adjustment, beginning balance at Dec. 31, 2016				(306)
Unrealized loss on investment securities, beginning balance at Dec. 31, 2016				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity from stock incentive plans		0.4
Cumulative adjustment for accounting change (See Note 2)			0.5
Net income attributable to ITT Inc.	46		46
Dividends declared			(11.4)
Activity from stock incentive plans			10.5
Share repurchases		(0.1)	(2.2)
Purchase of noncontrolling interest			0		0
Net change in postretirement benefit plans	1.1			1.1
Net cumulative translation adjustment				19.2
Loss attributable to noncontrolling interests	0.4				(0.4)
Dividend to noncontrolling interest shareholders					0
Change In Equity From Noncontrolling Interest Attributable To Other					0
Postretirement benefit plans, ending balance at Mar. 31, 2017				(144.1)
Cumulative translation adjustment, ending balance at Mar. 31, 2017				(286.8)
Unrealized loss on investment securities, ending balance at Mar. 31, 2017				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net change in common stock		0.3
Net change in retained earnings			43.4
Net change in accumulated other comprehensive loss				20.3
Net change in noncontrolling interests					(0.4)
Total shareholders' equity, ending balance at Mar. 31, 2017	$ 1,492	$ 88.7	$ 1,832.6	$ (430.9)	$ 1.6

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2017
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 oil and gas 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 segments: Industrial Process, consisting of industrial pumping and complementary equipment; Motion Technologies, consisting of friction and shock and vibration equipment; and Connect & Control Technologies, consisting of electronic connectors, fluid handling, motion control and noise and energy absorption products. Financial information for our segments is presented in Note 3, Segment 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 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 Annual Report on Form 10-K for the year ended December 31, 2016 ( 2016 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 2016 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, 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, allowance for doubtful accounts and inventory valuation. Actual results could differ from these estimates. ITT's quarterly financial periods end on the Saturday that is generally 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.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2017
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS The Company considers the applicability and impact of all accounting standard updates (ASUs). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations. Accounting Pronouncements Recently Adopted In March 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-09 to simplify several aspects of the accounting standard for employee share-based payment transactions, including the classification of excess tax benefits and deficiencies and the accounting for employee forfeitures. ITT elected to adopt this guidance as of January 1, 2017 which includes the following: • Excess tax benefits and deficiencies will no longer be recognized as a change in additional paid-in-capital in the equity section of the Balance Sheet. Instead they will be recognized on the Statements of Operations as a tax expense or benefit. On the Statement of Cash Flows, excess tax benefits and deficiencies will no longer be classified as a financing activity. Instead they will be classified as an operating activity. These provisions were adopted using a prospective method of transition. During the first quarter of 2017, we recorded an income tax benefit of $1.1 on the Statement of Operations and classified this benefit on the Statement of Cash Flows as an operating activity. The prior year's excess tax benefit of $3.0 was recorded as a change in equity on the Balance Sheet and was classified as a financing activity on the Statement of Cash Flows. Previously unrecognized tax benefits due to net operating loss carryforwards were recognized during the first quarter of 2017 using a modified retrospective approach, resulting in a cumulative-effect adjustment to increase retained earnings by $2.1 as of January 1, 2017. A corresponding deferred tax asset of $25.6 was partially offset by a valuation allowance of $23.5 as the newly recognized net operating losses are not considered more likely than not realizable. • The impact of forfeitures will now be recognized as they occur as opposed to previously estimating future employee forfeitures. We adopted this provision utilizing a modified retrospective approach, resulting in a cumulative-effect adjustment reducing retained earnings by $1.6 as of January 1, 2017. • The ASU also provides new guidance to other areas of the standard including minimum statutory tax withholding rules and the calculation of diluted common shares outstanding. The adoption of this provision will be reflected prospectively in the financial statements and did not have a material impact. Accounting Pronouncements Not Yet Adopted In March 2017, the FASB issued ASU 2017-07 which amends the Statement of Operations presentation for the components of net periodic benefit cost for entities that sponsor defined benefit pension and other postretirement plans. Under the ASU, entities are now required to disaggregate the service cost component and present it with other current compensation costs for the related employees. All other components of net periodic benefit cost will no longer be classified as an operating expense. In addition, only the service cost component will be eligible for capitalization on the balance sheet. The ASU requires a retrospective transition method to adopt the requirement to present service costs separately from the other components of net periodic benefit cost in the statements of operations and a prospective transition method to adopt the requirement that prohibits capitalization of all components of net periodic benefit cost on the balance sheet except service costs. The ASU is effective for the Company beginning in the first quarter of 2018, at which time we expect to adopt the new standard. We are currently assessing the impact of this amendment on our financial statements. In February 2016, the FASB issued ASU 2016-02 impacting the accounting for leases intending to increase transparency and comparability of organizations by requiring balance sheet presentation of leased assets and increased financial statement disclosure of leasing arrangements. The revised standard will require entities to recognize a liability for their lease obligations and a corresponding asset representing the right to use the underlying asset over the lease term. Lease obligations are to be measured at the present value of lease payments and accounted for using the effective interest method. The accounting for the leased asset will differ slightly depending on whether the agreement is deemed to be a financing or operating lease. For finance leases, the leased asset is depreciated on a straight-line basis and recorded separately from the interest expense in the statements of operations, resulting in higher expense in the earlier part of the lease term. For operating leases, the depreciation and interest expense components are combined, recognized evenly over the term of the lease, and presented as a reduction to operating income. The ASU requires that assets and liabilities be presented or disclosed separately and classified appropriately as current and noncurrent. The ASU further requires additional disclosure of certain qualitative and quantitative information related to lease agreements. The ASU is effective for the Company beginning in the first quarter 2019, at which time we expect to adopt the new standard. We are currently assessing our existing lease agreements and related financial disclosures to evaluate the impact of these amendments on our financial statements.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION In the first quarter of 2017, we combined our former Interconnect Solutions and Control Technologies segments to form Connect & Control Technologies. All prior year segment information has been reclassified based on our current segment structure. The Company's segments are reported on the same basis used by our chief operating decision maker, for evaluating performance and for allocating resources. Our three reportable segments are referred to as: Industrial Process, Motion Technologies, and Connect & Control Technologies. Industrial Process manufactures engineered fluid process equipment serving a diversified mix of customers in global industries such as chemical, oil and gas, mining, and other industrial process markets and is a provider of plant optimization and efficiency solutions and aftermarket services and parts. Motion Technologies manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation markets. Connect & Control Technologies designs and manufactures harsh-environment connector solutions and critical energy absorption and flow control components for the aerospace and defense, general industrial, medical, and oil and gas markets. 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 asbestos and environmental liabilities, that are managed at a corporate level and are not included in segment results when evaluating performance or allocating resources. Assets of the segments exclude general corporate assets, which principally consist of cash, investments, asbestos-related receivables, deferred taxes, and certain property, plant and equipment. Revenue Operating Income Operating Margin For the Three Months Ended March 31 2017 2016 2017 2016 2017 2016 Industrial Process $ 186.1 $ 208.8 $ 7.3 $ 9.0 3.9 % 4.3 % Motion Technologies 287.3 257.0 54.9 50.7 19.1 % 19.7 % Connect & Control Technologies 153.3 144.3 16.3 12.4 10.6 % 8.6 % Total segment results 626.7 610.1 78.5 72.1 12.5 % 11.8 % Asbestos-related costs, net — — (14.9 ) (12.8 ) — — Eliminations / Other corporate costs (0.9 ) (1.0 ) (8.0 ) (8.3 ) — — Total Eliminations / Corporate and Other costs (0.9 ) (1.0 ) (22.9 ) (21.1 ) — — Total $ 625.8 $ 609.1 $ 55.6 $ 51.0 8.9 % 8.4 % Total Assets Capital Expenditures Depreciation & Amortization For the Three Months Ended March 31 2017 2016 (a) 2017 2016 2017 2016 Industrial Process $ 990.6 $ 998.1 $ 9.9 $ 3.5 $ 6.8 $ 7.2 Motion Technologies 1,019.4 838.4 22.3 14.2 10.7 10.1 Connect & Control Technologies 688.7 678.4 4.4 3.2 5.6 6.4 Corporate and Other 971.7 1,086.8 0.1 0.1 1.7 1.6 Total $ 3,670.4 $ 3,601.7 $ 36.7 $ 21.0 $ 24.8 $ 25.3 (a) Amounts reflect balances as of December 31, 2016

RESTRUCTURING ACTIONS RESTRUCTU

RESTRUCTURING ACTIONS RESTRUCTURING ACTIONS	3 Months Ended
	Mar. 31, 2017
Restructuring and Related Activities [Abstract]
RESTRUCTURING ACTIONS	RESTRUCTURING ACTIONS We have initiated various restructuring activities throughout our businesses during the past two years, of which only those noted below are considered to be individually significant. Other less significant restructuring actions taken during 2017 and 2016 included various reduction in workforce initiatives. The table below summarizes the restructuring costs presented within general and administrative expenses in our Consolidated Condensed Statements of Operations for the three months ended March 31, 2017 and 2016 . For the Three Months Ended March 31 2017 2016 Severance costs $ 1.1 $ 5.1 Asset write-offs — 0.2 Other restructuring costs 1.5 0.2 Total restructuring costs $ 2.6 $ 5.5 By segment: Industrial Process $ 1.3 $ 3.2 Motion Technologies 0.2 1.4 Connect & Control Technologies 0.5 0.9 Corporate and Other 0.6 — The following table displays a rollforward of the restructuring accruals, presented on our Consolidated Condensed Balance Sheet within accrued liabilities, for the three months ended March 31, 2017 and 2016 . For the Three Months Ended March 31 2017 2016 Restructuring accruals - beginning balance $ 14.6 $ 20.0 Restructuring costs 2.6 5.5 Cash payments (5.4 ) (6.5 ) Asset write-offs — (0.2 ) Foreign exchange translation and other 1.0 (0.1 ) Restructuring accrual - ending balance $ 12.8 $ 18.7 By accrual type: Severance accrual $ 11.2 $ 18.4 Facility carrying and other costs accrual 1.6 0.3 Industrial Process Restructuring Actions Beginning in early 2015, we have been executing a series of restructuring actions focused on achieving efficiencies and reducing the overall cost structure of the Industrial Process segment. During the first three months of 2017, we continued to pursue these objectives and we recognized $1.3 of restructuring costs primarily related to the exit of certain office space. Cash payments related to the remaining accrual are expected to be substantially complete in 2018, other than the lease exit costs. However, we will continue to monitor and evaluate the need for any additional restructuring actions. The following table provides a rollforward of the restructuring accruals associated with the Industrial Process restructuring actions. For the Three Months Ended March 31 2017 2016 Restructuring accruals - beginning balance $ 6.5 $ 4.9 Restructuring costs 1.3 3.2 Cash payments (2.3 ) (3.3 ) Asset write-offs — (0.2 ) Foreign exchange translation and other 0.5 — Restructuring accruals - ending balance $ 6.0 $ 4.6

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For the three months ended March 31, 2017 and 2016 , the Company recognized income tax expense of $9.1 and $11.7 and had an effective tax rate of 16.6% and 23.7% , respectively. The lower effective tax rate in 2017 is primarily driven by tax benefits on excess stock based compensation due to the adoption of ASU 2016-09 and a tax rate change on Korea deferred tax assets. Refer to Note 2, Recent Accounting Pronouncements, for further information on ASU 2016-09. In addition, the Company continues to benefit from a larger mix of earnings in non-U.S. jurisdictions with favorable tax rates. 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 Canada, Germany, Hong Kong, Italy, Mexico, South Korea, the U.S. and Venezuela. 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 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 change by approximately $19 due to changes in audit status, expiration of statutes of limitations and other events. In addition, the settlement of any future examinations relating to the 2011 and prior tax years could result in changes in amounts attributable to the Company under its Tax Matters Agreement with Exelis Inc. and Xylem Inc. relating to the Company's 2011 spin-off of those businesses.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2017
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 for the three months ended March 31, 2017 and 2016 . For the Three Months Ended March 31 2017 2016 Basic weighted average common shares outstanding 88.5 89.6 Add: Dilutive impact of outstanding equity awards 0.7 0.9 Diluted weighted average common shares outstanding 89.2 90.5 The following table provides the number of shares underlying stock options excluded from the computation of diluted earnings per share for the three months ended March 31, 2017 and 2016 because they were anti-dilutive. For the Three Months Ended March 31 2017 2016 Anti-dilutive stock options 0.4 0.6 Weighted average exercise price per share $ 42.40 $ 39.74 Year(s) of expiration 2024 - 2025 2024 - 2026 In addition, 0.2 of outstanding PSU awards were excluded from the computation of diluted earnings per share for the three months ended March 31, 2017 and 2016

RECEIVABLES, NET

RECEIVABLES, NET	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
RECEIVABLES, NET	RECEIVABLES, NET March 31, December 31, Trade accounts receivable $ 564.2 $ 513.5 Notes receivable 3.7 4.2 Other 23.1 21.6 Receivables, gross 591.0 539.3 Less: Allowance for doubtful accounts (14.1 ) (15.4 ) Receivables, net $ 576.9 $ 523.9

INVENTORIES, NET

INVENTORIES, NET	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
INVENTORIES, NET	INVENTORIES, NET March 31, December 31, Finished goods $ 51.8 $ 53.0 Work in process 63.2 60.5 Raw materials 171.4 166.0 Inventoried costs related to long-term contracts 43.6 33.5 Total inventory before progress payments 330.0 313.0 Less: Progress payments (18.5 ) (17.8 ) Inventories, net $ 311.5 $ 295.2

OTHER CURRENT AND NON-CURRENT A

OTHER CURRENT AND NON-CURRENT ASSETS	3 Months Ended
	Mar. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER CURRENT AND NON-CURRENT ASSETS	OTHER CURRENT AND NON-CURRENT ASSETS March 31, December 31, Asbestos-related assets $ 66.0 $ 66.0 Prepaid income taxes 27.0 7.6 Other 49.0 48.4 Other current assets $ 142.0 $ 122.0 Other employee benefit-related assets $ 98.2 $ 96.5 Environmental-related assets 24.3 33.4 Capitalized software costs 42.0 38.1 Other 21.6 20.4 Other non-current assets $ 186.1 $ 188.4

PLANT, PROPERTY AND EQUIPMENT,

PLANT, PROPERTY AND EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
PLANT, PROPERTY AND EQUIPMENT, NET	PLANT, PROPERTY AND EQUIPMENT, NET March 31, December 31, Land and improvements $ 28.6 $ 28.2 Machinery and equipment 932.7 898.6 Buildings and improvements 239.1 244.6 Furniture, fixtures and office equipment 70.2 68.0 Construction work in progress 77.1 68.5 Other 10.2 5.3 Plant, property and equipment, gross 1,357.9 1,313.2 Less: Accumulated depreciation (876.4 ) (848.7 ) Plant, property and equipment, net $ 481.5 $ 464.5 Depreciation expense of $18.3 and $18.1 was recognized in the three months ended March 31, 2017 and 2016

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS, NET	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS, NET	GOODWILL AND OTHER INTANGIBLE ASSETS, NET Goodwill The following table provides a rollforward of the carrying amount of goodwill for the three months ended March 31, 2017 by segment. Industrial Process Motion Technologies Connect & Control Technologies Total Goodwill - December 31, 2016 $ 308.4 $ 202.3 $ 264.0 $ 774.7 Acquired — 89.0 — 89.0 Foreign exchange translation 2.6 (1.0 ) 0.4 2.0 Goodwill - March 31, 2017 $ 311.0 $ 290.3 $ 264.4 $ 865.7 The goodwill acquired during the quarter ended March 31, 2017 relates to our acquisition of Axtone Railway Components (Axtone) and represents the excess of the preliminary purchase price over the net assets acquired, the valuation of which is pending completion. Upon completion of the valuation, the goodwill acquired will be adjusted to reflect the final fair value of the net assets acquired. Refer to Note 18, Acquisitions , for additional information. Other Intangible Assets, Net Information regarding our other intangible assets is as follows: March 31, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Intangibles Gross Carrying Amount Accumulated Amortization Net Intangibles Customer relationships $ 156.2 $ (63.0 ) $ 93.2 $ 155.8 $ (59.3 ) $ 96.5 Proprietary technology 52.7 (17.9 ) 34.8 52.5 (16.8 ) 35.7 Patents and other 10.4 (8.5 ) 1.9 9.0 (7.6 ) 1.4 Finite-lived intangible total 219.3 (89.4 ) 129.9 217.3 (83.7 ) 133.6 Indefinite-lived intangibles 26.8 — 26.8 26.7 — 26.7 Other intangible assets $ 246.1 $ (89.4 ) $ 156.7 $ 244.0 $ (83.7 ) $ 160.3 Amortization expense related to finite-lived intangible assets was $4.6 and $5.4 for the three months ended March 31, 2017 and 2016

ACCRUED AND OTHER CURRENT LIABI

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES	3 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES	ACCRUED LIABILITIES AND OTHER NON-CURRENT LIABILITIES March 31, December 31, Compensation and other employee-related benefits $ 118.9 $ 120.5 Asbestos-related liabilities 76.3 76.8 Customer-related liabilities 44.3 39.9 Accrued income taxes and other tax-related liabilities 38.8 31.0 Environmental liabilities and other legal matters 26.2 25.1 Accrued warranty costs 18.2 17.4 Other accrued liabilities 36.4 39.5 Accrued liabilities $ 359.1 $ 350.2 Deferred income taxes and other tax-related accruals $ 26.2 $ 24.9 Environmental liabilities 59.1 63.2 Compensation and other employee-related benefits 33.6 33.0 Other 55.2 59.9 Other non-current liabilities $ 174.1 $ 181.0

DEBT Debt (Notes)

DEBT Debt (Notes)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt [Text Block]	NOTE 13 DEBT March 31, December 31, Commercial paper $ 112.0 $ 113.5 Short-term loans 100.0 100.0 Current maturities of long-term debt and capital leases 1.1 0.8 Short-term loans and current maturities of long-term debt 213.1 214.3 Long-term debt and capital leases 4.0 2.0 Total debt and capital leases $ 217.1 $ 216.3 Commercial Paper Commercial paper outstanding had an associated weighted average interest rate of 1.37% and 1.14% and maturity terms less than one month from the date of issuance as of March 31, 2017 and December 31, 2016 , respectively. Short-term Loans As of March 31, 2017 and December 31, 2016 , outstanding borrowings under our $500 Revolving Credit Agreement, had an associated weighted average interest rate of 2.09% and 1.87%

POSTRETIREMENT BENEFIT PLANS

POSTRETIREMENT BENEFIT PLANS	3 Months Ended
	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
POSTRETIREMENT BENEFIT PLANS	POSTRETIREMENT BENEFIT PLANS The following tables provide the components of net periodic benefit cost for pension plans and other employee-related benefit plans for the three months ended March 31, 2017 and 2016 . 2017 2016 For the Three Months Ended March 31 Pension Other Benefits Total Pension Other Benefits Total Service cost $ 1.4 $ 0.2 $ 1.6 $ 1.2 $ 0.2 $ 1.4 Interest cost 3.0 1.1 4.1 3.4 1.2 4.6 Expected return on plan assets (4.6 ) (0.1 ) (4.7 ) (5.0 ) (0.2 ) (5.2 ) Amortization of prior service cost (benefit) 0.2 (1.4 ) (1.2 ) 0.2 (1.6 ) (1.4 ) Amortization of net actuarial loss 1.7 1.1 2.8 1.9 1.2 3.1 Total net periodic benefit cost $ 1.7 $ 0.9 $ 2.6 $ 1.7 $ 0.8 $ 2.5 We made contributions to our global postretirement plans of $3.5 and $3.3 during the three months ended March 31, 2017 and 2016 , respectively. We expect to make contributions of approximately $8 to $12 during the remainder of 2017 , principally related to our other postretirement employee benefit plans. Amortization from accumulated other comprehensive income into earnings related to prior service cost and net actuarial loss was $1.1 , net of tax, for the three months ended March 31, 2017 and 2016

LONG-TERM INCENTIVE EMPLOYEE CO

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
LONG-TERM INCENTIVE EMPLOYEE COMPENSATION	LONG-TERM INCENTIVE EMPLOYEE COMPENSATION Our long-term incentive plan (LTIP) costs are primarily recorded within general and administrative expenses. The following table provides the components of LTIP costs for the three months ended March 31, 2017 and 2016 . For the Three Months Ended March 31 2017 2016 Equity based awards $ 3.7 $ 2.9 Liability-based awards 0.5 0.5 Total share-based compensation expense $ 4.2 $ 3.4 At March 31, 2017 , there was $29.6 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 2.3 years. Additionally, unrecognized compensation cost related to liability-based awards was $3.8 , which is expected to be recognized ratably over a weighted-average period of 2.3 years. Year-to-Date 2017 LTIP Activity The majority of our LTIP awards are granted during the first quarter of each year and vest on the completion of a three-year service period. During the three months ended March 31, 2017 , 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) 0.3 $ 41.96 Performance stock units (PSUs) 0.1 $ 44.89 In each of the three months ended March 31, 2017 and 2016 , 0.3 non-qualified stock options were exercised resulting in proceeds of $5.9 and $6.1 , respectively. During the three months ended March 31, 2017 and 2016 , RSUs of 0.1 and 0.2 vested and were issued, respectively. There were no PSUs that vested on December 31, 2016

CAPITAL STOCK

CAPITAL STOCK	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
CAPITAL STOCK	CAPITAL STOCK On October 27, 2006, a three-year $1 billion share repurchase program was approved by the Board of Directors (Share Repurchase Program). On December 16, 2008, the provisions of the Share Repurchase Program were modified by the Board of Directors to replace the original three-year term with an indefinite term. We did not repurchase any shares of common stock under this program during three months ended March 31, 2017 and 2016 . To date, the Company has repurchased 20.4 shares for $829.4 under the Share Repurchase Program. Separate from the Share Repurchase Program, the Company repurchased 0.1 shares and 0.2 shares for an aggregate price of $2.3 and $6.9 , during the three months ended March 31, 2017 and 2016

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	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 employee benefit matters, government contract issues and commercial or contractual disputes and 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 a material adverse impact on our financial statements, unless otherwise noted below. Asbestos Matters Subsidiaries of ITT, including ITT LLC and Goulds Pumps LLC, have been sued, along with many other companies in product liability lawsuits alleging personal injury due to asbestos exposure. These claims generally allege that certain products sold by 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. As of March 31, 2017 , there were approximately 27 thousand pending claims against ITT subsidiaries, including Goulds Pumps LLC, 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: For the Three Months Ended March 31 (in thousands) 2017 Pending claims – Beginning 30 New claims 1 Settlements (1 ) Dismissals (3 ) Pending claims – Ending 27 Frequently, plaintiffs are unable to identify any ITT LLC or Goulds Pumps LLC products as a source of asbestos exposure. Our experience to date is that a majority of resolved claims are dismissed without any payment from ITT subsidiaries. Management believes that a large majority of the pending claims have little or no value. In addition, because claims are sometimes dismissed in large groups, the average cost per resolved claim can fluctuate significantly from period to period. ITT expects more asbestos-related suits will be filed in the future, and ITT will continue to aggressively defend or seek a reasonable resolution, as appropriate. Asbestos litigation is a unique form of litigation. Frequently, the plaintiff sues a large number of defendants and does not state a specific claim amount. After filing complaint, the plaintiff engages defendants in settlement negotiations to establish a settlement value based on certain criteria, including the number of defendants in the case. Rarely do the plaintiffs seek to collect all damages from one defendant. Rather, they seek to spread the liability, and thus the payments, among many defendants. As a result of this and other factors, the Company is unable to estimate the maximum potential exposure to pending claims and claims estimated to be filed over the next 10 years. Estimating our exposure to pending asbestos claims and those that may be filed in the future is subject to significant uncertainty and risk as there are multiple variables that can affect the timing, severity, quality, quantity and resolution of claims. Any predictions with respect to the variables impacting the estimate of the asbestos liability and related asset are subject to even greater uncertainty as the projection period lengthens. In light of the variables and uncertainties inherent in the long-term projection of the Company's asbestos exposures, although it is probable that the Company will incur additional costs for asbestos claims filed beyond the next 10 years, which additional costs may be material, we do not believe there is a reasonable basis for estimating those costs at this time. The asbestos liability and related receivables reflect management's best estimate of future events. However, future events affecting the key factors and other variables for either the asbestos liability or the related receivables could cause actual costs or 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 difficult to predict the ultimate cost of resolving all pending and 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 statements. Asbestos-Related Costs, Net As part of our ongoing review of our net asbestos exposure, each quarter we assess the most recent qualitative and quantitative data available for the key inputs and assumptions, comparing the data to expectations on which the most recent annual liability and asset estimates were calculated. Based on this evaluation, the Company determined that no change in the estimate was warranted for the quarter ended March 31, 2017 other than the incremental accrual to maintain a rolling 10-year forecast period. The net asbestos charge for the three months ended March 31, 2017 and 2016 was $14.9 and $15.4 , respectively. Additionally, during the first quarter of 2016, we entered into a settlement agreement with an insurer to settle responsibility for multiple insurance claims, resulting in a benefit of $2.6 . Changes in Financial Position The Company's estimated asbestos exposure, net of expected recoveries for the resolution of all pending claims and claims estimated to be filed in the next 10 years was $575.6 and $573.7 as of March 31, 2017 and December 31, 2016.The following table provides a rollforward of the estimated asbestos liability and related assets for the three months ended March 31, 2017 and 2016. 2017 2016 For the Three Months Ended March 31 Liability Asset Net Liability Asset Net Beginning balance $ 954.3 $ 380.6 $ 573.7 $ 1,042.8 $ 412.0 $ 630.8 Asbestos provision 17.4 2.5 14.9 17.8 2.4 15.4 Insurance settlement agreements — — — — 2.6 (2.6 ) Net cash activity (28.8 ) (15.8 ) (13.0 ) (15.5 ) (11.2 ) (4.3 ) Ending balance $ 942.9 $ 367.3 $ 575.6 $ 1,045.1 $ 405.8 $ 639.3 Current portion $ 76.3 $ 66.0 $ 88.1 $ 74.5 Noncurrent portion $ 866.6 $ 301.3 $ 957.0 $ 331.3 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 the estimated environmental liability for the three months ended March 31, 2017 and 2016 . For the Three Months Ended March 31 2017 2016 Environmental liability - beginning balance $ 76.6 $ 82.6 Change in estimates for pre-existing accruals Continuing operations (0.7 ) 0.7 Discontinued operations — 0.5 Net cash activity (3.4 ) (5.1 ) Foreign currency — 0.1 Environmental liability - ending balance $ 72.5 $ 78.8 During the first quarter of 2017, ITT entered into a settlement agreement with a former subsidiary to settle all claims covered by the environmental Qualified Settlement Fund (QSF) established in the first quarter of 2016. The former subsidiary no longer has rights to the funds in the QSF. The settlement resulted in a reduction to both our environmental-related asset and the corresponding deferred income liability balance of $5.2 . The total environmental-related asset as of March 31, 2017 and December 31, 2016 was $24.3 and $33.4 , respectively. We are currently involved with 35 active environmental investigation and remediation sites. At March 31, 2017 , we have estimated the potential high-end liability range of environmental-related matters to be $121.0 . 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. Other Matters The Company is responding to a civil subpoena from the Department of Defense, Office of the Inspector General, which was issued in the second quarter of 2015 as part of an investigation being led by the Civil Division of the U.S. Department of Justice. The subpoena and related investigation involve certain products manufactured by the Company’s Connect & Control Technologies segment that are purchased or used by the U.S. government. The Company is cooperating with the government and producing documents responsive to the subpoena. The Company is unable to estimate the timing or outcome of this matter.

ACQUISITIONS (Notes)

ACQUISITIONS (Notes)	3 Months Ended
	Mar. 31, 2017
Acquisitions [Abstract]
Business Combination Disclosure [Text Block]	ACQUISITIONS Axtone Railway Components On January 26, 2017 , we acquired 100% of the privately held stock of Axtone Railway Components (Axtone) for a preliminary purchase price of $113.7 , net of cash acquired. The preliminary purchase price is subject to change during the measurement period (up to one year from the acquisition date) as certain customary working capital adjustments are finalized. Axtone, which had 2016 revenue of $72 , is a manufacturer of highly engineered and customized energy absorption solutions, including springs, buffers, and coupler components for the railway and industrial markets. The preliminary purchase price for Axtone was allocated to net tangible assets acquired and liabilities assumed based on their preliminary fair values as of January 26, 2017, with the excess of the preliminary purchase price of $89.0 recorded as goodwill. The primary areas of purchase price allocation that are not yet finalized relate to the valuation of intangible assets acquired, certain tangible assets and liabilities, income tax, and residual goodwill. We expect to obtain the information necessary to finalize the fair value of the net assets and liabilities during the measurement period. Changes to the preliminary estimates of the fair value during the measurement period will be recorded as adjustments to those assets and liabilities with a corresponding adjustment to goodwill in the period they occur. The goodwill arising from this acquisition, which is not expected to be deductible for income tax purposes, has been assigned to the Motion Technologies segment. Preliminary Allocation of Purchase Price for Axtone Cash $ 9.4 Receivables 11.5 Inventory 11.7 Plant, property and equipment 14.1 Goodwill 89.0 Other assets 5.3 Accounts payable and accrued liabilities (12.0 ) Postretirement liabilities (3.8 ) Other liabilities (2.1 ) Net assets acquired $ 123.1

SUBSEQUENT EVENTS Subsequent Ev

SUBSEQUENT EVENTS Subsequent Events (Notes)	3 Months Ended
	Mar. 31, 2017
Subsequent Event [Line Items]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS The Company recently entered into an agreement to sell excess property for a cash purchase price of approximately $41 . On April 16, 2017, the purchaser’s due diligence period ended. There are remaining conditions to closing which are anticipated to be finalized in the first half of 2018. At closing, the Company will receive the cash proceeds and is expected to record a gain of approximately $38 to $40

DESCRIPTION OF BUSINESS AND B29

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2017
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 oil and gas 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 segments: Industrial Process, consisting of industrial pumping and complementary equipment; Motion Technologies, consisting of friction and shock and vibration equipment; and Connect & Control Technologies, consisting of electronic connectors, fluid handling, motion control and noise and energy absorption products. Financial information for our segments is presented in Note 3, Segment 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 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 Annual Report on Form 10-K for the year ended December 31, 2016 ( 2016 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 2016 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, 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, allowance for doubtful accounts and inventory valuation. Actual results could differ from these estimates. ITT's quarterly financial periods end on the Saturday that is generally 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.

RECENT ACCOUNTING PRONOUNCEME30

RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2017
Recent Acconting Pronouncements [Abstract]
Accounting Pronouncements Recently Adopted	Accounting Pronouncements Recently Adopted In March 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-09 to simplify several aspects of the accounting standard for employee share-based payment transactions, including the classification of excess tax benefits and deficiencies and the accounting for employee forfeitures. ITT elected to adopt this guidance as of January 1, 2017 which includes the following: • Excess tax benefits and deficiencies will no longer be recognized as a change in additional paid-in-capital in the equity section of the Balance Sheet. Instead they will be recognized on the Statements of Operations as a tax expense or benefit. On the Statement of Cash Flows, excess tax benefits and deficiencies will no longer be classified as a financing activity. Instead they will be classified as an operating activity. These provisions were adopted using a prospective method of transition. During the first quarter of 2017, we recorded an income tax benefit of $1.1 on the Statement of Operations and classified this benefit on the Statement of Cash Flows as an operating activity. The prior year's excess tax benefit of $3.0 was recorded as a change in equity on the Balance Sheet and was classified as a financing activity on the Statement of Cash Flows. Previously unrecognized tax benefits due to net operating loss carryforwards were recognized during the first quarter of 2017 using a modified retrospective approach, resulting in a cumulative-effect adjustment to increase retained earnings by $2.1 as of January 1, 2017. A corresponding deferred tax asset of $25.6 was partially offset by a valuation allowance of $23.5 as the newly recognized net operating losses are not considered more likely than not realizable. • The impact of forfeitures will now be recognized as they occur as opposed to previously estimating future employee forfeitures. We adopted this provision utilizing a modified retrospective approach, resulting in a cumulative-effect adjustment reducing retained earnings by $1.6 as of January 1, 2017. •
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Accounting Pronouncements Not Yet Adopted In March 2017, the FASB issued ASU 2017-07 which amends the Statement of Operations presentation for the components of net periodic benefit cost for entities that sponsor defined benefit pension and other postretirement plans. Under the ASU, entities are now required to disaggregate the service cost component and present it with other current compensation costs for the related employees. All other components of net periodic benefit cost will no longer be classified as an operating expense. In addition, only the service cost component will be eligible for capitalization on the balance sheet. The ASU requires a retrospective transition method to adopt the requirement to present service costs separately from the other components of net periodic benefit cost in the statements of operations and a prospective transition method to adopt the requirement that prohibits capitalization of all components of net periodic benefit cost on the balance sheet except service costs. The ASU is effective for the Company beginning in the first quarter of 2018, at which time we expect to adopt the new standard. We are currently assessing the impact of this amendment on our financial statements. In February 2016, the FASB issued ASU 2016-02 impacting the accounting for leases intending to increase transparency and comparability of organizations by requiring balance sheet presentation of leased assets and increased financial statement disclosure of leasing arrangements. The revised standard will require entities to recognize a liability for their lease obligations and a corresponding asset representing the right to use the underlying asset over the lease term. Lease obligations are to be measured at the present value of lease payments and accounted for using the effective interest method. The accounting for the leased asset will differ slightly depending on whether the agreement is deemed to be a financing or operating lease. For finance leases, the leased asset is depreciated on a straight-line basis and recorded separately from the interest expense in the statements of operations, resulting in higher expense in the earlier part of the lease term. For operating leases, the depreciation and interest expense components are combined, recognized evenly over the term of the lease, and presented as a reduction to operating income. The ASU requires that assets and liabilities be presented or disclosed separately and classified appropriately as current and noncurrent. The ASU further requires additional disclosure of certain qualitative and quantitative information related to lease agreements. The ASU is effective for the Company beginning in the first quarter 2019, at which time we expect to adopt the new standard. We are currently assessing our existing lease agreements and related financial disclosures to evaluate the impact of these amendments on our financial statements.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Revenue Operating Income Operating Margin For the Three Months Ended March 31 2017 2016 2017 2016 2017 2016 Industrial Process $ 186.1 $ 208.8 $ 7.3 $ 9.0 3.9 % 4.3 % Motion Technologies 287.3 257.0 54.9 50.7 19.1 % 19.7 % Connect & Control Technologies 153.3 144.3 16.3 12.4 10.6 % 8.6 % Total segment results 626.7 610.1 78.5 72.1 12.5 % 11.8 % Asbestos-related costs, net — — (14.9 ) (12.8 ) — — Eliminations / Other corporate costs (0.9 ) (1.0 ) (8.0 ) (8.3 ) — — Total Eliminations / Corporate and Other costs (0.9 ) (1.0 ) (22.9 ) (21.1 ) — — Total $ 625.8 $ 609.1 $ 55.6 $ 51.0 8.9 % 8.4 % Total Assets Capital Expenditures Depreciation & Amortization For the Three Months Ended March 31 2017 2016 (a) 2017 2016 2017 2016 Industrial Process $ 990.6 $ 998.1 $ 9.9 $ 3.5 $ 6.8 $ 7.2 Motion Technologies 1,019.4 838.4 22.3 14.2 10.7 10.1 Connect & Control Technologies 688.7 678.4 4.4 3.2 5.6 6.4 Corporate and Other 971.7 1,086.8 0.1 0.1 1.7 1.6 Total $ 3,670.4 $ 3,601.7 $ 36.7 $ 21.0 $ 24.8 $ 25.3

RESTRUCTURING ACTIONS RESTRUC32

RESTRUCTURING ACTIONS RESTRUCTURING ACTIONS (Tables)	3 Months Ended
	Mar. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	The table below summarizes the restructuring costs presented within general and administrative expenses in our Consolidated Condensed Statements of Operations for the three months ended March 31, 2017 and 2016 . For the Three Months Ended March 31 2017 2016 Severance costs $ 1.1 $ 5.1 Asset write-offs — 0.2 Other restructuring costs 1.5 0.2 Total restructuring costs $ 2.6 $ 5.5 By segment: Industrial Process $ 1.3 $ 3.2 Motion Technologies 0.2 1.4 Connect & Control Technologies 0.5 0.9 Corporate and Other 0.6 —
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table displays a rollforward of the restructuring accruals, presented on our Consolidated Condensed Balance Sheet within accrued liabilities, for the three months ended March 31, 2017 and 2016 . For the Three Months Ended March 31 2017 2016 Restructuring accruals - beginning balance $ 14.6 $ 20.0 Restructuring costs 2.6 5.5 Cash payments (5.4 ) (6.5 ) Asset write-offs — (0.2 ) Foreign exchange translation and other 1.0 (0.1 ) Restructuring accrual - ending balance $ 12.8 $ 18.7 By accrual type: Severance accrual $ 11.2 $ 18.4 Facility carrying and other costs accrual 1.6 0.3
Industrial Process Restructuring Action [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	Industrial Process Restructuring Actions Beginning in early 2015, we have been executing a series of restructuring actions focused on achieving efficiencies and reducing the overall cost structure of the Industrial Process segment. During the first three months of 2017, we continued to pursue these objectives and we recognized $1.3 of restructuring costs primarily related to the exit of certain office space. Cash payments related to the remaining accrual are expected to be substantially complete in 2018, other than the lease exit costs. However, we will continue to monitor and evaluate the need for any additional restructuring actions. The following table provides a rollforward of the restructuring accruals associated with the Industrial Process restructuring actions. For the Three Months Ended March 31 2017 2016 Restructuring accruals - beginning balance $ 6.5 $ 4.9 Restructuring costs 1.3 3.2 Cash payments (2.3 ) (3.3 ) Asset write-offs — (0.2 ) Foreign exchange translation and other 0.5 — Restructuring accruals - ending balance $ 6.0 $ 4.6

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Basic and Diluted Loss Per Share	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 for the three months ended March 31, 2017 and 2016 . For the Three Months Ended March 31 2017 2016 Basic weighted average common shares outstanding 88.5 89.6 Add: Dilutive impact of outstanding equity awards 0.7 0.9 Diluted weighted average common shares outstanding 89.2 90.5
Number of Shares Underlying Stock Options Excluded from the Computation of Diluted Earnings	The following table provides the number of shares underlying stock options excluded from the computation of diluted earnings per share for the three months ended March 31, 2017 and 2016 because they were anti-dilutive. For the Three Months Ended March 31 2017 2016 Anti-dilutive stock options 0.4 0.6 Weighted average exercise price per share $ 42.40 $ 39.74 Year(s) of expiration 2024 - 2025 2024 - 2026

RECEIVABLES, NET (Tables)

RECEIVABLES, NET (Tables)	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
RECEIVABLES, NET	March 31, December 31, Trade accounts receivable $ 564.2 $ 513.5 Notes receivable 3.7 4.2 Other 23.1 21.6 Receivables, gross 591.0 539.3 Less: Allowance for doubtful accounts (14.1 ) (15.4 ) Receivables, net $ 576.9 $ 523.9

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories, Net	March 31, December 31, Finished goods $ 51.8 $ 53.0 Work in process 63.2 60.5 Raw materials 171.4 166.0 Inventoried costs related to long-term contracts 43.6 33.5 Total inventory before progress payments 330.0 313.0 Less: Progress payments (18.5 ) (17.8 ) Inventories, net $ 311.5 $ 295.2

OTHER CURRENT AND NON-CURRENT36

OTHER CURRENT AND NON-CURRENT ASSETS (Tables)	3 Months Ended
	Mar. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current and Non Current Assets	March 31, December 31, Asbestos-related assets $ 66.0 $ 66.0 Prepaid income taxes 27.0 7.6 Other 49.0 48.4 Other current assets $ 142.0 $ 122.0 Other employee benefit-related assets $ 98.2 $ 96.5 Environmental-related assets 24.3 33.4 Capitalized software costs 42.0 38.1 Other 21.6 20.4 Other non-current assets $ 186.1 $ 188.4

PLANT, PROPERTY AND EQUIPMENT37

PLANT, PROPERTY AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Plant, Property and Equipment, Net	March 31, December 31, Land and improvements $ 28.6 $ 28.2 Machinery and equipment 932.7 898.6 Buildings and improvements 239.1 244.6 Furniture, fixtures and office equipment 70.2 68.0 Construction work in progress 77.1 68.5 Other 10.2 5.3 Plant, property and equipment, gross 1,357.9 1,313.2 Less: Accumulated depreciation (876.4 ) (848.7 ) Plant, property and equipment, net $ 481.5 $ 464.5

GOODWILL AND OTHER INTANGIBLE38

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the Carrying Amount of Goodwill	Goodwill The following table provides a rollforward of the carrying amount of goodwill for the three months ended March 31, 2017 by segment. Industrial Process Motion Technologies Connect & Control Technologies Total Goodwill - December 31, 2016 $ 308.4 $ 202.3 $ 264.0 $ 774.7 Acquired — 89.0 — 89.0 Foreign exchange translation 2.6 (1.0 ) 0.4 2.0 Goodwill - March 31, 2017 $ 311.0 $ 290.3 $ 264.4 $ 865.7
Other Intangible Assets	Other Intangible Assets, Net Information regarding our other intangible assets is as follows: March 31, 2017 December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Intangibles Gross Carrying Amount Accumulated Amortization Net Intangibles Customer relationships $ 156.2 $ (63.0 ) $ 93.2 $ 155.8 $ (59.3 ) $ 96.5 Proprietary technology 52.7 (17.9 ) 34.8 52.5 (16.8 ) 35.7 Patents and other 10.4 (8.5 ) 1.9 9.0 (7.6 ) 1.4 Finite-lived intangible total 219.3 (89.4 ) 129.9 217.3 (83.7 ) 133.6 Indefinite-lived intangibles 26.8 — 26.8 26.7 — 26.7 Other intangible assets $ 246.1 $ (89.4 ) $ 156.7 $ 244.0 $ (83.7 ) $ 160.3

ACCRUED AND OTHER CURRENT LIA39

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Accrued Liabilities and Other Non-Current Liabilities	March 31, December 31, Compensation and other employee-related benefits $ 118.9 $ 120.5 Asbestos-related liabilities 76.3 76.8 Customer-related liabilities 44.3 39.9 Accrued income taxes and other tax-related liabilities 38.8 31.0 Environmental liabilities and other legal matters 26.2 25.1 Accrued warranty costs 18.2 17.4 Other accrued liabilities 36.4 39.5 Accrued liabilities $ 359.1 $ 350.2 Deferred income taxes and other tax-related accruals $ 26.2 $ 24.9 Environmental liabilities 59.1 63.2 Compensation and other employee-related benefits 33.6 33.0 Other 55.2 59.9 Other non-current liabilities $ 174.1 $ 181.0

DEBT Debt (Tables)

DEBT Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	March 31, December 31, Commercial paper $ 112.0 $ 113.5 Short-term loans 100.0 100.0 Current maturities of long-term debt and capital leases 1.1 0.8 Short-term loans and current maturities of long-term debt 213.1 214.3 Long-term debt and capital leases 4.0 2.0 Total debt and capital leases $ 217.1 $ 216.3

POSTRETIREMENT BENEFIT PLANS (T

POSTRETIREMENT BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Net Periodic Benefit Cost of Pension Plans and Other Employee Related Benefit Plans	The following tables provide the components of net periodic benefit cost for pension plans and other employee-related benefit plans for the three months ended March 31, 2017 and 2016 . 2017 2016 For the Three Months Ended March 31 Pension Other Benefits Total Pension Other Benefits Total Service cost $ 1.4 $ 0.2 $ 1.6 $ 1.2 $ 0.2 $ 1.4 Interest cost 3.0 1.1 4.1 3.4 1.2 4.6 Expected return on plan assets (4.6 ) (0.1 ) (4.7 ) (5.0 ) (0.2 ) (5.2 ) Amortization of prior service cost (benefit) 0.2 (1.4 ) (1.2 ) 0.2 (1.6 ) (1.4 ) Amortization of net actuarial loss 1.7 1.1 2.8 1.9 1.2 3.1 Total net periodic benefit cost $ 1.7 $ 0.9 $ 2.6 $ 1.7 $ 0.8 $ 2.5

LONG-TERM INCENTIVE EMPLOYEE 42

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Long-Term Incentive Employee Compensation Costs	The following table provides the components of LTIP costs for the three months ended March 31, 2017 and 2016 . For the Three Months Ended March 31 2017 2016 Equity based awards $ 3.7 $ 2.9 Liability-based awards 0.5 0.5 Total share-based compensation expense $ 4.2 $ 3.4
Summary of Long-Term Incentive Plan Award Grants during year	# of Awards Granted Weighted Average Grant Date Fair Value Per Share Restricted stock units (RSUs) 0.3 $ 41.96 Performance stock units (PSUs) 0.1 $ 44.89

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Product Liability Contingencies [Table Text Block]	As of March 31, 2017 , there were approximately 27 thousand pending claims against ITT subsidiaries, including Goulds Pumps LLC, 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: For the Three Months Ended March 31 (in thousands) 2017 Pending claims – Beginning 30 New claims 1 Settlements (1 ) Dismissals (3 ) Pending claims – Ending 27
Roll Forward of Asbestos Liability and Related Assets	Changes in Financial Position The Company's estimated asbestos exposure, net of expected recoveries for the resolution of all pending claims and claims estimated to be filed in the next 10 years was $575.6 and $573.7 as of March 31, 2017 and December 31, 2016.The following table provides a rollforward of the estimated asbestos liability and related assets for the three months ended March 31, 2017 and 2016. 2017 2016 For the Three Months Ended March 31 Liability Asset Net Liability Asset Net Beginning balance $ 954.3 $ 380.6 $ 573.7 $ 1,042.8 $ 412.0 $ 630.8 Asbestos provision 17.4 2.5 14.9 17.8 2.4 15.4 Insurance settlement agreements — — — — 2.6 (2.6 ) Net cash activity (28.8 ) (15.8 ) (13.0 ) (15.5 ) (11.2 ) (4.3 ) Ending balance $ 942.9 $ 367.3 $ 575.6 $ 1,045.1 $ 405.8 $ 639.3 Current portion $ 76.3 $ 66.0 $ 88.1 $ 74.5 Noncurrent portion $ 866.6 $ 301.3 $ 957.0 $ 331.3
Rollforward of Environmental Liability and Related Assets	The following table provides a rollforward of the estimated environmental liability for the three months ended March 31, 2017 and 2016 . For the Three Months Ended March 31 2017 2016 Environmental liability - beginning balance $ 76.6 $ 82.6 Change in estimates for pre-existing accruals Continuing operations (0.7 ) 0.7 Discontinued operations — 0.5 Net cash activity (3.4 ) (5.1 ) Foreign currency — 0.1 Environmental liability - ending balance $ 72.5 $ 78.8

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2017
Axtone Railway Components Acquisition [Member]
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Preliminary Allocation of Purchase Price for Axtone Cash $ 9.4 Receivables 11.5 Inventory 11.7 Plant, property and equipment 14.1 Goodwill 89.0 Other assets 5.3 Accounts payable and accrued liabilities (12.0 ) Postretirement liabilities (3.8 ) Other liabilities (2.1 ) Net assets acquired $ 123.1

RECENT ACCOUNTING PRONOUNCEME45

RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefit recorded to equity section of balance sheet	$ 0	$ 3
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefit recorded to tax expense	1.1
Excess tax benefit recorded to equity section of balance sheet	(3)
Previously Unrecognized Tax Benefits Due to NOL Carryforwards [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	(2.1)
Forfeiture Rate Estimate Adjustment [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	(1.6)
Deferred Tax Assets [Member] | Previously Unrecognized Tax Benefits Due to NOL Carryforwards [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	(25.6)
Valuation Allowance, Operating Loss Carryforwards [Member] | Previously Unrecognized Tax Benefits Due to NOL Carryforwards [Member] | Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	$ (23.5)

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Segment Reporting Information by Segment Revenue (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)Segment	Mar. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments | Segment	3
Revenue	$ 625.8	$ 609.1
Operating Income	$ 55.6	$ 51
Operating Margin	8.90%	8.40%
Total Segment Results [Member]
Segment Reporting Information [Line Items]
Revenue	$ 626.7	$ 610.1
Operating Income	$ 78.5	$ 72.1
Operating Margin	12.50%	11.80%
Industrial Process [Member]
Segment Reporting Information [Line Items]
Revenue	$ 186.1	$ 208.8
Operating Income	$ 7.3	$ 9
Operating Margin	3.90%	4.30%
Motion Technologies [Member]
Segment Reporting Information [Line Items]
Revenue	$ 287.3	$ 257
Operating Income	$ 54.9	$ 50.7
Operating Margin	19.10%	19.70%
Connect & Control Technologies [Member]
Segment Reporting Information [Line Items]
Revenue	$ 153.3	$ 144.3
Operating Income	$ 16.3	$ 12.4
Operating Margin	10.60%	8.60%
Total Eliminations / Corporate and Other costs
Segment Reporting Information [Line Items]
Revenue	$ (0.9)	$ (1)
Operating Income	$ (22.9)	$ (21.1)
Operating Margin	0.00%	0.00%
Asbestos-related costs, net
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0
Operating Income	$ (14.9)	$ (12.8)
Operating Margin	0.00%	0.00%
Eliminations / Other corporate costs
Segment Reporting Information [Line Items]
Revenue	$ (0.9)	$ (1)
Operating Income	$ (8)	$ (8.3)
Operating Margin	0.00%	0.00%

SEGMENT INFORMATION - Schedul47

SEGMENT INFORMATION - Schedule of Segment Reporting Information by Segment Assets (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	[1]
Segment Reporting Information [Line Items]
Total Assets	$ 3,670.4		$ 3,601.7
Capital Expenditures	36.7	$ 21
Depreciation & Amortization	24.8	25.3
Industrial Process [Member]
Segment Reporting Information [Line Items]
Total Assets	990.6		998.1
Capital Expenditures	9.9	3.5
Depreciation & Amortization	6.8	7.2
Motion Technologies [Member]
Segment Reporting Information [Line Items]
Total Assets	1,019.4		838.4
Capital Expenditures	22.3	14.2
Depreciation & Amortization	10.7	10.1
Connect & Control Technologies [Member]
Segment Reporting Information [Line Items]
Total Assets	688.7		678.4
Capital Expenditures	4.4	3.2
Depreciation & Amortization	5.6	6.4
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total Assets	971.7		$ 1,086.8
Capital Expenditures	0.1	0.1
Depreciation & Amortization	$ 1.7	$ 1.6
[1]	Amounts reflect balances as of December 31, 2016

RESTRUCTURING ACTIONS Restruc48

RESTRUCTURING ACTIONS Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 2.6	$ 5.5
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1.1	5.1
Restructuring Asset Write-Off [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0	0.2
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1.5	0.2
Industrial Process [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1.3	3.2
Motion Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0.2	1.4
Connect & Control Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0.5	0.9
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0.6	$ 0

RESTRUCTURING ACTIONS Restruc49

RESTRUCTURING ACTIONS Restructuring Accrual Rollforward (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning Balance	$ 14.6	$ 20
Restructuring costs	2.6	5.5
Payments for Restructuring	(5.4)	(6.5)
Asset Write-Offs	0	(0.2)
Restructuring Reserve, Translation Adjustment	1	(0.1)
Restructuring Reserve - Ending Balance	12.8	18.7
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1.1	5.1
Restructuring Reserve - Ending Balance	11.2	18.4
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1.5	0.2
Restructuring Reserve - Ending Balance	1.6	0.3
Industrial Process [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1.3	3.2
Industrial Process Restructuring Action [Member] | Industrial Process [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning Balance	6.5	4.9
Restructuring costs	1.3	3.2
Payments for Restructuring	(2.3)	(3.3)
Asset Write-Offs	0	(0.2)
Restructuring Reserve, Translation Adjustment	0.5	0
Restructuring Reserve - Ending Balance	$ 6	$ 4.6

RESTRUCTURING ACTIONS Restruc50

RESTRUCTURING ACTIONS Restructuring Textuals (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 2.6	$ 5.5
Industrial Process [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1.3	3.2
Industrial Process Restructuring Action [Member] | Industrial Process [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 1.3	$ 3.2

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income tax expense	$ 9.1	$ 11.7
Effective income tax rate	16.60%	23.70%
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 19

EARNINGS PER SHARE DATA - Basic

EARNINGS PER SHARE DATA - Basic and Diluted Loss Per Share (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Weighted average common shares – basic	88.5	89.6
Add: Dilutive impact of outstanding equity awards	0.7	0.9
Diluted weighted average common shares outstanding	89.2	90.5

EARNINGS PER SHARE DATA - Numbe

EARNINGS PER SHARE DATA - Number of Shares Underlying Stock Options Excluded from the Computation of Diluted Earnings (Loss) (Detail) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of PSU Awards Excluded from Diluted Shares Outstanding	0.2	0.2
Anti-dilutive stock options	0.4	0.6
Average exercise price	$ 42.40	$ 39.74
Minimum [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Years of expiration	2,024	2,024
Maximum [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Years of expiration	2,025	2,026

RECEIVABLES, NET - (Detail)

RECEIVABLES, NET - (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade accounts receivable	$ 564.2	$ 513.5
Notes receivable	3.7	4.2
Other	23.1	21.6
Receivables, gross	591	539.3
Less: Allowance for doubtful accounts	(14.1)	(15.4)
Receivables, net	$ 576.9	$ 523.9

INVENTORIES, NET - Components o

INVENTORIES, NET - Components of Inventories, Net (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 51.8	$ 53
Work in process	63.2	60.5
Raw materials	171.4	166
Inventoried costs related to long-term contracts	43.6	33.5
Total inventory before progress payments	330	313
Less: Progress payments	(18.5)	(17.8)
Inventories, net	$ 311.5	$ 295.2

OTHER CURRENT AND NON-CURRENT56

OTHER CURRENT AND NON-CURRENT ASSETS - Components of Other Current and Non-Current Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Asbestos-related assets	$ 66	$ 66	$ 74.5
Prepaid income taxes	27	7.6
Other	49	48.4
Other current assets	142	122
Other employee benefit-related assets	98.2	96.5
Environmental-related assets	24.3	33.4
Capitalized software costs	42	38.1
Other	21.6	20.4
Other non-current assets	$ 186.1	$ 188.4

PLANT, PROPERTY AND EQUIPMENT57

PLANT, PROPERTY AND EQUIPMENT, NET - Components of Plant, Property and Equipment, Net (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Land and improvements	$ 28.6	$ 28.2
Machinery and equipment	932.7	898.6
Buildings and improvements	239.1	244.6
Furniture, fixtures and office equipment	70.2	68
Construction work in progress	77.1	68.5
Other	10.2	5.3
Plant, property and equipment, gross	1,357.9	1,313.2
Less: Accumulated depreciation	(876.4)	(848.7)
Plant, property and equipment, net	$ 481.5	$ 464.5

PLANT, PROPERTY AND EQUIPMENT58

PLANT, PROPERTY AND EQUIPMENT, NET - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 18.3	$ 18.1

GOODWILL AND OTHER INTANGIBLE59

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Changes in the Carrying Amount of Goodwill (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Goodwill [Roll Forward]
Goodwill - Beginning Balance	$ 774.7
Goodwill, Acquired During Period	89
Foreign exchange translation	2
Goodwill - Ending Balance	865.7
Industrial Process [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	308.4
Goodwill, Acquired During Period	0
Foreign exchange translation	2.6
Goodwill - Ending Balance	311
Motion Technologies [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	202.3
Goodwill, Acquired During Period	89
Foreign exchange translation	(1)
Goodwill - Ending Balance	290.3
Connect & Control Technologies [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	264
Goodwill, Acquired During Period	0
Foreign exchange translation	0.4
Goodwill - Ending Balance	$ 264.4

GOODWILL AND OTHER INTANGIBLE60

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Other Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 219.3		$ 217.3
Indefinite-lived intangible assets, Gross/Net Carrying Amount	26.8		26.7
Other Intangible Assets, Gross Carrying Amount	246.1		244
Accumulated Amortization	(89.4)		(83.7)
Finite-live intangible asset, net of accumulated amortization	129.9		133.6
Other intangible assets, net	156.7		160.3
Amortization of Intangible Assets	4.6	$ 5.4
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Customer Relationships, Gross Carrying Amount	156.2		155.8
Accumulated Amortization	(63)		(59.3)
Finite-live intangible asset, net of accumulated amortization	93.2		96.5
Proprietary Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Proprietary Technology, Gross Carrying Amount	52.7		52.5
Accumulated Amortization	(17.9)		(16.8)
Finite-live intangible asset, net of accumulated amortization	34.8		35.7
Patents and other [Member]
Finite-Lived Intangible Assets [Line Items]
Patents and Other, Gross Carrying Amount	10.4		9
Accumulated Amortization	(8.5)		(7.6)
Finite-live intangible asset, net of accumulated amortization	$ 1.9		$ 1.4

ACCRUED AND OTHER CURRENT LIA61

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES - (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Payables and Accruals [Abstract]
Compensation and other employee-related benefits	$ 118.9	$ 120.5
Asbestos-related liabilities	76.3	76.8	$ 88.1
Customer-related liabilities	44.3	39.9
Accrued income taxes and other tax-related liabilities	38.8	31
Environmental liabilities and other legal matters	26.2	25.1
Accrued warranty costs	18.2	17.4
Other accrued liabilities	36.4	39.5
Accrued liabilities	359.1	350.2
Deferred income taxes and other tax-related accruals	26.2	24.9
Environmental liabilities	59.1	63.2
Compensation and other employee-related benefits	33.6	33
Other	55.2	59.9
Other non-current liabilities	$ 174.1	$ 181

DEBT Debt (Details)

DEBT Debt (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Debt [Line Items]
Commercial paper	$ 112	$ 113.5
Short-term loans	100	100
Current maturities of long-term debt and capital leases	1.1	0.8
Short-term loans and current maturities of long-term debt	213.1	214.3
Long-term debt and capital leases	4	2
Total debt and capital leases	$ 217.1	$ 216.3
Commercial Paper [Member]
Debt [Line Items]
Weighted Average Interest Rate	1.37%	1.14%
Line of Credit [Member]
Debt [Line Items]
Weighted Average Interest Rate	2.09%	1.87%
Line of Credit Facility, Maximum Borrowing Capacity	$ 500

POSTRETIREMENT BENEFIT PLANS -

POSTRETIREMENT BENEFIT PLANS - Net Periodic Benefit Cost of Pension Plans and Other Employee Related Benefit Plans (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1.6	$ 1.4
Interest cost	4.1	4.6
Expected return on plan assets	(4.7)	(5.2)
Amortization of prior service cost (benefit)	(1.2)	(1.4)
Amortization of net actuarial loss	2.8	3.1
Total net periodic benefit cost	2.6	2.5
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1.4	1.2
Interest cost	3	3.4
Expected return on plan assets	(4.6)	(5)
Amortization of prior service cost (benefit)	0.2	0.2
Amortization of net actuarial loss	1.7	1.9
Total net periodic benefit cost	1.7	1.7
Other Postretirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.2	0.2
Interest cost	1.1	1.2
Expected return on plan assets	(0.1)	(0.2)
Amortization of prior service cost (benefit)	(1.4)	(1.6)
Amortization of net actuarial loss	1.1	1.2
Total net periodic benefit cost	$ 0.9	$ 0.8

POSTRETIREMENT BENEFIT PLANS Po

POSTRETIREMENT BENEFIT PLANS Postretirement Textuals (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan, Contributions by Employer	$ 3.5	$ 3.3
Reclassification of Postretirement Costs from AOCI, Net of Tax	1.1	$ 1.1
Minimum [Member]
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year	8
Maximum [Member]
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year	$ 12

LONG-TERM INCENTIVE EMPLOYEE 65

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Employee Compensation Costs (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation expense, equity-based awards	$ 3.7	$ 2.9
Share-based compensation expense, liability-based awards	0.5	0.5
Total share-based compensation expense in operating income (loss)	$ 4.2	$ 3.4

LONG-TERM INCENTIVE EMPLOYEE 66

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercised	0.3	0.3
Proceeds from the exercise of stock options	$ 5.9	$ 6.1
Equity Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 29.6
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 3 months 18 days
Liability Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 3.8
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 3 months 18 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vested during period	0.1	0.2
Performance Stock Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vested during period	0

LONG-TERM INCENTIVE EMPLOYEE 67

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Summary of Long-Term Incentive Plan Awards (Detail) shares in Millions	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards Granted | shares	0.3
Grant Date Fair Value | $ / shares	$ 41.96
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	$ 44.89

CAPITAL STOCK - Additional Info

CAPITAL STOCK - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		125 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased under settlement of employee tax withholding obligations	0.1	0.2
Shares repurchased aggregate value under settlement of employee tax withholding obligations	$ 2.3	$ 6.9
2006 Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Share repurchase program	$ 1,000		$ 1,000
Repurchase of shares of common stock	0	0	20.4
Aggregate cost of repurchase	$ 0	$ 0	$ 829.4

COMMITMENTS AND CONTINGENCIES R

COMMITMENTS AND CONTINGENCIES Rollforward of Asbestos Claims (Detail) - Asbestos Issue [Member] Claim in Thousands	3 Months Ended
	Mar. 31, 2017Claim
Asbestos Claims [Rollforward]
Pending claims – Beginning	30
New claims	1
Settlements	(1)
Dismissals	(3)
Pending claims – Ending	27

COMMITMENTS AND CONTINGENCIES70

COMMITMENTS AND CONTINGENCIES Roll Forward of Asbestos Liability and Related Assets (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning	$ (573.7)	$ (630.8)
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period	(14.9)	(15.4)
Gain From Asbestos Insurance Settlement Agreement	0	2.6
Cash Payments	13	4.3
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending	(575.6)	(639.3)
Asbestos-related liabilities Current	76.3	88.1	$ 76.8
Asbestos-related liabilities Non-Current	866.6	957	877.5
Asbestos-related assets Current	66	74.5	66
Asbestos-related assets Non-Current	301.3	331.3	$ 314.6
Liability [Member]
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning	(954.3)	(1,042.8)
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period	(17.4)	(17.8)
Gain From Asbestos Insurance Settlement Agreement	0	0
Cash Payments	28.8	15.5
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending	(942.9)	(1,045.1)
Assets [Member]
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning	380.6	412
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period	2.5	2.4
Gain From Asbestos Insurance Settlement Agreement	0	2.6
Cash Payments	(15.8)	(11.2)
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending	$ 367.3	$ 405.8

COMMITMENTS AND CONTINGENCIES A

COMMITMENTS AND CONTINGENCIES Asbestos Matters Textuals (Details) Claim in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)Claim	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)Claim	Dec. 31, 2015USD ($)
Asbestos Related Contingencies [Line Items]
Asbestos Liability Measurement Periods for Claims Pending and Estimated to be Filed	10 years
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period	$ 14.9	$ 15.4
Gain From Asbestos Insurance Settlement Agreement	0	2.6
Asbestos Liability And Related Assets Net Current And Noncurrent	$ 575.6	$ 639.3	$ 573.7	$ 630.8
Asbestos Issue [Member]
Asbestos Related Contingencies [Line Items]
Pending Asbestos Claims | Claim	27		30

COMMITMENTS AND CONTINGENCIES72

COMMITMENTS AND CONTINGENCIES Rollforward of Environmental Liability and Related Assets (Detail) - Liability [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Loss Contingency Accrual [Roll Forward]
Environmental liability - Beginning balance	$ 76.6	$ 82.6
Net Cash Activity	(3.4)	(5.1)
Foreign exchange translation	0	0.1
Environmental liability - Ending balance	72.5	78.8
Continuing Operations [Member]
Loss Contingency Accrual [Roll Forward]
Changes In Pre-Existing Environmental Accruals	(0.7)	0.7
Discontinued Operations [Member]
Loss Contingency Accrual [Roll Forward]
Changes In Pre-Existing Environmental Accruals	$ 0	$ 0.5

COMMITMENTS AND CONTINGENCIES73

COMMITMENTS AND CONTINGENCIES Range of Environmental Liability and Number of Active Sites (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)site	Dec. 31, 2016USD ($)
Site Contingency [Line Items]
Reduction to Environmental QSF Asset due to Settlement Agreement	$ 5.2
Reduction to Environmental QSF Deferred Gain due to Settlement Agreement	5.2
Environmental-related assets	$ 24.3	$ 33.4
Environmental Related Matters [Member]
Site Contingency [Line Items]
Number Of Active Environmental Investigation And Remediation Sites | site	35
Maximum [Member] | Environmental Related Matters [Member]
Site Contingency [Line Items]
Loss Contingency, Range of Possible Loss, Maximum	$ 121

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Millions	Mar. 31, 2017	Jan. 26, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 865.7		$ 774.7
Axtone Railway Components Acquisition [Member]
Business Acquisition [Line Items]
Cash		$ 9.4
Receivables		11.5
Inventory		11.7
Plant, property and equipment		14.1
Goodwill		89
Other assets		5.3
Accounts payable and accrued liabilities		(12)
Postretirement liabilities		(3.8)
Other liabilities		(2.1)
Net assets acquired		$ 123.1

ACQUISITIONS Acquisitions Textu

ACQUISITIONS Acquisitions Textuals (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Jan. 26, 2017
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 113.7	$ 0.2
Goodwill	$ 865.7		$ 774.7
Axtone Railway Components Acquisition [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Jan. 26, 2017
Business Acquisition, Name of Acquired Entity	Axtone Railway Components (Axtone)
Payments to Acquire Businesses, Net of Cash Acquired	$ 113.7
Revenue of Acquired Entity for Last Annual Period			$ 72
Goodwill				$ 89

SUBSEQUENT EVENTS Subsequent 76

SUBSEQUENT EVENTS Subsequent Events (Details) - Agreement to Sell Real Estate [Member] $ in Millions	Apr. 16, 2017USD ($)
Subsequent Event [Line Items]
Purchase Price for Pending Sale of Real Estate	$ 41
Minimum [Member]
Subsequent Event [Line Items]
Estimated Gain from Pending Sale of Real Estate	38
Maximum [Member]
Subsequent Event [Line Items]
Estimated Gain from Pending Sale of Real Estate	$ 40