ITT (ITT) 10-Q 3 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	6 Months Ended
	Jun. 30, 2018	Aug. 01, 2018
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
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		87.6

CONSOLIDATED CONDENSED INCOME S

CONSOLIDATED CONDENSED INCOME STATEMENTS - USD ($) shares in Millions, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017		Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Revenue	$ 696.8	$ 630.9		$ 1,386.1	$ 1,256.7
Costs of revenue	470.8	425.9		935.9	848.6
Gross profit	226	205		450.2	408.1
General and administrative expenses	63	64.6		128.1	130.3
Sales and marketing expenses	43.4	43.8		86.9	86.9
Research and development expenses	25.8	22.6		50.5	45
Asbestos-related costs (benefit), net	13.5	14.9		(6.2)	29.8
Operating income	80.3	59.1	[1]	190.9	116.1	[1]
Interest and non-operating expenses, net	1.5	0.5		3.3	2.7
Income from continuing operations before income tax expense	78.8	58.6		187.6	113.4
Income tax expense	8.9	10.6		16.5	19.7
Income from continuing operations	69.9	48		171.1	93.7
(Loss) income from discontinued operations, net of tax	0	(0.1)		0.1	(0.2)
Net income	69.9	47.9		171.2	93.5
Less: Income (loss) attributable to noncontrolling interests	0.2	0.1		0.3	(0.3)
Net income attributable to ITT Inc.	69.7	47.8		170.9	93.8
Amounts attributable to ITT Inc.:
Income from continuing operations, net of tax	69.7	47.9		170.8	94
(Loss) income from discontinued operations, net of tax	0	(0.1)		0.1	(0.2)
Net income attributable to ITT Inc.	$ 69.7	$ 47.8		$ 170.9	$ 93.8
Basic:
Continuing operations	$ 0.80	$ 0.54		$ 1.95	$ 1.06
Discontinued operations	0	0		0	0
Net income	0.80	0.54		1.95	1.06
Diluted:
Continuing operations	0.79	0.54		1.93	1.05
Discontinued operations	0	0		0	0
Net income	$ 0.79	$ 0.54		$ 1.93	$ 1.05
Weighted average common shares – basic	87.5	88.5		87.8	88.4
Weighted average common shares – diluted	88.4	89		88.7	89.1
Cash dividends declared per common share	$ 0.134	$ 0.128		$ 0.268	$ 0.256
[1]	(a) Operating income and operating margin for the three and six months ended June 30, 2017 has been restated to reflect the adoption of ASU 2017-07. Refer to Note 2 , Recent Accounting Pronouncements

CONSOLIDATED CONDENSED INCOME 3

CONSOLIDATED CONDENSED INCOME STATEMENTS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Tax benefit on income from discontinued operations	$ 0.1	$ 0.1	$ 0	$ 0.2

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 69.9	$ 47.9	$ 171.2	$ 93.5
Other comprehensive (loss) income:
Net foreign currency translation adjustment	(47.1)	42.5	(20.6)	61.7
Net change in postretirement benefit plans, net of tax impacts of $0.4, $0.4, $0.8 and $0.9, respectively	1.1	1.2	2.2	2.3
Other comprehensive (loss) income	(46)	43.7	(18.4)	64
Comprehensive income	23.9	91.6	152.8	157.5
Less: Comprehensive income (loss) attributable to noncontrolling interests	0.2	0.1	0.3	(0.3)
Comprehensive income attributable to ITT Inc.	23.7	91.5	152.5	157.8
Reclassification adjustments (see Note 15):
Amortization of prior service benefit, net of tax expense of $(0.3), $(0.5), $(0.5) and $(1.0), respectively	(0.8)	(0.7)	(1.7)	(1.4)
Amortization of net actuarial loss, net of tax benefits of $0.7, $0.9, $1.3 and $1.9, respectively	1.9	1.9	3.9	3.7
Net change in postretirement benefit plans, net of tax impacts of $0.4, $0.4, $0.8 and $0.9, respectively	$ 1.1	$ 1.2	$ 2.2	$ 2.3

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENT OF COMPREHENSIVE INCOME (Parenthetical) (Parentheticals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Discontinued Operation, Tax Effect of Discontinued Operation	$ (0.1)	$ (0.1)	$ 0	$ (0.2)
Net change in postretirement benefit plans, Tax Benefits	0.4	0.4	0.8	0.9
Amortization of prior service costs, Tax (Expense) Benefit	(0.3)	(0.5)	(0.5)	(1)
Amortization of net actuarial loss, Tax Benefits	$ 0.7	$ 0.9	$ 1.3	$ 1.9

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 449.6	$ 389.8
Receivables, net	560.4	629.6
Inventories, net	393.5	311.9
Total current assets	175.1	147.4
Total current assets	1,578.6	1,478.7
Plant, property and equipment, net	506.1	521.7
Goodwill	879.9	886.8
Other intangible assets, net	145.3	156.2
Asbestos-related assets	322.6	304
Deferred income taxes	164	149.9
Other non-current assets	203.2	202.9
Total non-current assets	2,221.1	2,221.5
Total assets	3,799.7	3,700.2	[1]
Current liabilities:
Short-term loans and current maturities of long-term debt	210.7	163.6
Accounts payable	331.2	351.4
Accrued liabilities	397.7	384.4
Total current liabilities	939.6	899.4
Asbestos-related liabilities	781.6	800.1
Postretirement benefits	223.5	227.3
Other non-current liabilities	172.7	175.6
Total non-current liabilities	1,177.8	1,203
Total liabilities	2,117.4	2,102.4
Shareholders’ equity:
Issued and outstanding – 87.6 shares and 88.2 shares, respectively	87.6	88.2
Retained earnings	1,959.3	1,856.1
Total accumulated other comprehensive loss	(366.6)	(348.2)
Total ITT Inc. shareholders’ equity	1,680.3	1,596.1
Noncontrolling interests	2	1.7
Total shareholders’ equity	1,682.3	1,597.8
Total liabilities and shareholders’ equity	$ 3,799.7	$ 3,700.2
[1]	(b) Amounts reflect balances as of December 31, 2017

CONSOLIDATED CONDENSED BALANCE7

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, shares authorized	250	250
Common stock, par value	$ 1	$ 1
Common stock, shares issued	87.6	88.2
Common stock, shares outstanding	87.6	88.2

CONSOLIDATED CONDENSED STATEME8

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating Activities
Net income	$ 171.2	$ 93.5
Less: Income (loss) from discontinued operations	0.1	(0.2)
Less: Income (loss) attributable to noncontrolling interests	0.3	(0.3)
Income from continuing operations attributable to ITT Inc.	170.8	94
Adjustments to income from continuing operations:
Depreciation and amortization	55.2	50.4
Equity-based compensation	10.2	7.3
Asbestos-related costs (benefit), net	(6.2)	29.8
Asbestos-related payments, net	(30.8)	(30.7)
Changes in assets and liabilities:
Change in receivables	(15.2)	(35.6)
Change in inventories	(22.8)	2.3
Change in accounts payable	(14.2)	(7.8)
Change in accrued expenses	(23)	(3.3)
Change in accrued and deferred income taxes	(11.7)	(3.1)
Other, net	7	(10.7)
Net Cash – Operating activities	119.3	92.6
Investing Activities
Capital expenditures	(46.3)	(53.3)
Acquisitions, net of cash acquired	0	(113.7)
Other, net	(0.9)	(2.5)
Net Cash – Investing activities	(45.4)	(164.5)
Financing Activities
Commercial paper, net repayments	(162.4)	9.4
Short-term revolving loans, borrowings	246.5	77.3
Repayments of Short-term Debt	23.5	100
Long-term debt, issued	0	3.9
Long-term debt, repayments	(1.9)	(0.7)
Repurchase of common stock	(55.4)	(32.8)
Proceeds from issuance of common stock	4.7	6.5
Dividends paid	(12)	(11.6)
Other, net	(0.1)	0.1
Net Cash – Financing activities	(4.1)	(47.9)
Exchange rate effects on cash and cash equivalents	(8.6)	15.3
Net Cash – Operating activities of discontinued operations	(1.4)	(0.9)
Net change in cash and cash equivalents	59.8	(105.4)
Cash and cash equivalents – beginning of year (includes restricted cash of $1.2 and $1.2, respectively)	391	461.9
Cash and cash equivalents – end of period (includes restricted cash of $1.2 and $1.2, respectively)	450.8	356.5
Cash paid during the year for:
Interest	1.1	2.1
Income taxes, net of refunds received	$ 23.2	$ 21.9

CONSOLIDATED CONDENSED STATEME9

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Restricted Cash	$ 1.2	$ 1.2	$ 1.2	$ 1.2

CONSOLIDATED CONDENSED STATEM10

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, 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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity from stock incentive plans		0.5
Cumulative adjustment for accounting change (See Note 2)			0.5
Net income attributable to ITT Inc.	93.8		93.8
Dividends declared			(22.8)
Activity from stock incentive plans			14.8
Share repurchases		(0.9)	(31.9)
Net change in postretirement benefit plans	2.3			2.3
Net cumulative translation adjustment				61.7
Income (loss) attributable to noncontrolling interests	0.3				(0.3)
Other					(0.1)
Postretirement benefit plans, ending balance at Jun. 30, 2017				(142.9)
Cumulative translation adjustment, ending balance at Jun. 30, 2017				(244.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net change in common stock		(0.4)
Net change in retained earnings			54.4
Net change in accumulated other comprehensive loss				64
Net change in noncontrolling interests					(0.4)
Total shareholders' equity, ending balance at Jun. 30, 2017	1,546	88	1,843.6	(387.2)	1.6
Total shareholders' equity, beginning balance at Mar. 31, 2017	1,492	88.7	1,832.6		1.6
Postretirement benefit plans, beginning balance at Mar. 31, 2017				(144.1)
Cumulative translation adjustment, beginning balance at Mar. 31, 2017				(286.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity from stock incentive plans		0.1
Cumulative adjustment for accounting change (See Note 2)			0
Net income attributable to ITT Inc.	47.8		47.8
Dividends declared			(11.4)
Activity from stock incentive plans			4.3
Share repurchases		(0.8)	(29.7)
Net change in postretirement benefit plans	1.2			1.2
Net cumulative translation adjustment				42.5
Income (loss) attributable to noncontrolling interests	(0.1)				0.1
Other					(0.1)
Postretirement benefit plans, ending balance at Jun. 30, 2017				(142.9)
Cumulative translation adjustment, ending balance at Jun. 30, 2017				(244.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net change in common stock		(0.7)
Net change in retained earnings			11
Net change in accumulated other comprehensive loss				43.7
Net change in noncontrolling interests					0
Total shareholders' equity, ending balance at Jun. 30, 2017	1,546	88	1,843.6	(387.2)	1.6
Total shareholders' equity, beginning balance at Dec. 31, 2017	1,597.8	88.2	1,856.1		1.7
Postretirement benefit plans, beginning balance at Dec. 31, 2017				(137.6)
Cumulative translation adjustment, beginning balance at Dec. 31, 2017				(210.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity from stock incentive plans		0.5
Cumulative adjustment for accounting change (See Note 2)			(4.1)
Net income attributable to ITT Inc.	170.9		170.9
Dividends declared			(23.7)
Activity from stock incentive plans			14.4
Share repurchases		(1.1)	(54.3)
Net change in postretirement benefit plans	2.2			2.2
Net cumulative translation adjustment				(20.6)
Income (loss) attributable to noncontrolling interests	(0.3)				0.3
Other					0
Postretirement benefit plans, ending balance at Jun. 30, 2018				(135.4)
Cumulative translation adjustment, ending balance at Jun. 30, 2018				(231.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net change in common stock		(0.6)
Net change in retained earnings			103.2
Net change in accumulated other comprehensive loss				(18.4)
Net change in noncontrolling interests					0.3
Total shareholders' equity, ending balance at Jun. 30, 2018	1,682.3	87.6	1,959.3	(366.6)	2
Total shareholders' equity, beginning balance at Mar. 31, 2018	1,660.5	87.4	1,891.8		1.9
Postretirement benefit plans, beginning balance at Mar. 31, 2018				(136.5)
Cumulative translation adjustment, beginning balance at Mar. 31, 2018				(184.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity from stock incentive plans		0.2
Cumulative adjustment for accounting change (See Note 2)			0
Net income attributable to ITT Inc.	69.7		69.7
Dividends declared			(11.8)
Activity from stock incentive plans			9.7
Share repurchases		0	(0.1)
Net change in postretirement benefit plans	1.1			1.1
Net cumulative translation adjustment				(47.1)
Income (loss) attributable to noncontrolling interests	(0.2)				0.2
Other					(0.1)
Postretirement benefit plans, ending balance at Jun. 30, 2018				(135.4)
Cumulative translation adjustment, ending balance at Jun. 30, 2018				(231.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net change in common stock		0.2
Net change in retained earnings			67.5
Net change in accumulated other comprehensive loss				(46)
Net change in noncontrolling interests					0.1
Total shareholders' equity, ending balance at Jun. 30, 2018	$ 1,682.3	$ 87.6	$ 1,959.3	$ (366.6)	$ 2

DESCRIPTION OF BUSINESS, BASIS

DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION AND UPDATES TO SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION AND UPDATES TO SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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, 2017 (the 2017 Annual Report) in preparing these unaudited financial statements, other than those described below. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2017 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. Certain prior year amounts have been reclassified or restated to conform to the current year presentation. For further information, refer to Note 2 , Recent Accounting Pronouncements . Update to Summary of Significant Accounting Policies Revenue Recognition Revenue is derived from the sale of products and services to customers. We recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. For product sales, we consider practical and contractual limitations in determining whether there is an alternative use for the product. For example, long-term design and build contracts are typically highly customized to a customer’s specifications. For contracts with no alternative use and an enforceable right to payment for work performed to date, including a reasonable profit if the contract were terminated at the customer’s convenience, we recognize revenue over time. All other product sales are recognized at a point in time. For contracts recognized over time, we use the cost-to-total cost method or the units of delivery method, depending on the nature of the contract, including length of production time. For contracts recognized at a point in time, we recognize revenue when control passes to the customer, which is generally based on shipping terms when title and risk and rewards pass to the customer. However, we also consider certain customer acceptance provisions as certain contracts with customers include installation, testing, certification or other acceptance provisions. In instances where contractual terms include a provision for customer acceptance, we consider whether we have previously demonstrated that the product meets the specified criteria based on either seller or customer-specified objective criteria in assessing whether control has passed to the customer. For service contracts, we recognize revenue as the services are rendered if the customer is benefiting from the service as it is performed, or upon completion of the service. Separately priced extended warranties are recognized as a separate performance obligation over the warranty period. The transaction price in our contracts consists of fixed consideration and the impact of variable consideration including returns, rebates and allowances and penalties. Variable consideration is generally estimated using a probability-weighted approach based on historical experience, known trends and current factors including market conditions and status of negotiations. When there is more than one performance obligation, the transaction price is allocated to the performance obligations based on the relative estimated standalone selling prices. If not sold separately, estimated standalone selling prices are determined considering various factors including market and pricing trends, geography, product customization and profit objectives. Revenue is recognized when the appropriate revenue recognition criteria for the individual performance obligations have been satisfied. Revenue is reported net of any required taxes collected from customers and remitted to government authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Shipping and handling activities are accounted for as activities to fulfill a promise to transfer a product to a customer. As such, shipping and handling activities are not evaluated as a separate performance qualification. For most contracts, payment is due from the customer within 30 to 90 days after the product is delivered or the service has been performed. For design and build contracts, we generally collect progress payments from the customer throughout the term of the contract, resulting in contract assets or liabilities depending on the timing of the payments. Contract assets consist of unbilled amounts when revenue recognized exceeds customer billings. Contract liabilities consist of advance payments and billings in excess of revenue recognized.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2018
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 May 2014, the FASB issued ASU 2014-09 amending the existing accounting standards for revenue recognition. The new standard was effective for ITT as of January 1, 2018. Most revenue streams are recorded consistently under both the new standard and the previous standard. However, the timing of revenue recognition of certain design and build contracts in our Industrial Process segment, recognized using the percentage of completion method under the previous standard, is now dependent on certain terms within the contract and therefore will vary based on the new guidance. ITT adopted this guidance using a modified retrospective approach. As of the date of adoption, we have recognized approximately $49 of revenue and $5 of operating income on open contracts in our Industrial Process segment using the percentage of completion method that under the new guidance are recognized at a point in time, resulting in a cumulative adjustment to the opening balance in retained earnings of $4 , net of tax. The comparative information has not been restated and continues to be reported under the accounting guidance in effect in those periods. Additionally, the new guidance resulted in a change in balance sheet presentation. Certain progress payments, previously presented as a reduction of inventory, are now presented within accrued liabilities. Unbilled receivables, previously presented within receivables, net, are now presented within other current or non-current assets. The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet related to the adoption of ASU 2014-09 is as follows: Balance as of December 31, 2017 Cumulative Effect of Adjustments Balance as of January 1, 2018 Assets: Receivables, net $ 629.6 $ (71.9 ) $ 557.7 Inventories, net 311.9 66.3 378.2 Other current assets 147.4 43.2 190.6 Deferred income taxes 149.9 1.0 150.9 Liabilities: Accrued liabilities 384.4 43.7 428.1 Other non-current liabilities 175.6 (1.0 ) 174.6 Equity: Retained earnings 1,856.1 (4.1 ) 1,852.0 The impacts to our Consolidated Statements of Operation for the three and six months ended June 30, 2018 , and our Consolidated Balance Sheet as of June 30, 2018 had we not adopted ASU 2014-09 are as follows: Three Months Six Months As of or for the Periods Ended June 30, 2018 As Reported Amounts under previous standard Effect of Change As Reported Amounts under previous standard Effect of Change Statement of Operations Revenue $ 696.8 $ 699.2 $ 2.4 $ 1,386.1 $ 1,394.3 $ 8.2 Costs of revenue 470.8 472.4 1.6 935.9 943.2 7.3 Income tax expense 8.9 8.7 0.2 16.5 16.7 0.2 Net income 69.9 70.5 0.6 171.2 171.9 0.7 Balance Sheets Assets: Receivables, net 560.4 614.9 54.5 Inventories, net 393.5 324.0 (69.5 ) Other current assets 175.1 150.3 (24.8 ) Deferred income taxes 164.0 162.7 (1.3 ) Liabilities: Accrued liabilities 397.7 350.8 (46.9 ) Other non-current liabilities 172.7 173.7 1.0 Equity: Retained earnings 1,959.3 1,964.1 4.8 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 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 are no longer 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. ITT adopted the ASU beginning in the first quarter of 2018. Service costs eligible for capitalization on the balance sheet in 2018 are considered immaterial. As a result of the adoption, our Consolidated Statement of Operations for the three and six months ended June 30, 2017 was restated as follows: For the Three Months Ended June 30, 2017 Previously Reported Effect of Change Restated Costs of revenue $ 426.5 $ (0.6 ) $ 425.9 General and administrative expenses 65.3 (0.7 ) 64.6 Sales and marketing expenses 43.9 (0.1 ) 43.8 Operating income 57.7 1.4 59.1 Interest and non-operating (income) expenses, net (0.9 ) 1.4 0.5 For the Six Months Ended June 30, 2017 Previously Reported Effect of Change Restated Costs of revenue $ 850.0 $ (1.4 ) $ 848.6 General and administrative expenses 131.5 (1.2 ) 130.3 Sales and marketing expenses 87.0 (0.1 ) 86.9 Research and development expenses 45.1 (0.1 ) 45.0 Operating income 113.3 2.8 116.1 Interest and non-operating (income) expenses, net (0.1 ) 2.8 2.7 In November 2016, the FASB issued ASU 2016-18 which requires restricted cash to be included with cash and cash equivalents when reconciling the beginning and ending amounts on the of the Statement of Cash Flows. In addition, when cash and restricted cash are presented on separate lines on the Balance Sheet, an entity is required to reconcile the total cash, cash equivalents and restricted cash in the Statement of Cash Flows to the related line items in the Balance Sheet. The ASU requires a retrospective transition method and ITT adopted the ASU beginning in the first quarter of 2018. In March 2016, the 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 resulting in a cumulative-effect adjustment of $1.0 to increase retained earnings. The increase to retained earnings was driven by previously unrecognized tax benefits due to net operating loss carryforwards of $2.1 , offset by a reduction in retained earnings of $1.1 , net of tax, due to a change in our accounting policy for the forfeiture of share-based compensation arrangements. For further information on our adoption of the new standard, refer to our 2017 Annual Report. Accounting Pronouncements Not Yet Adopted 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 financing 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

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION 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 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 (a) Operating Margin For the Three Months Ended June 30 2018 2017 2018 2017 2018 2017 Industrial Process $ 203.2 $ 192.3 $ 23.4 $ 15.3 11.5 % 8.0 % Motion Technologies 330.3 290.1 55.5 52.1 16.8 % 18.0 % Connect & Control Technologies 164.1 149.6 27.3 14.2 16.6 % 9.5 % Total segment results 697.6 632.0 106.2 81.6 15.2 % 12.9 % Asbestos-related costs, net — — (13.5 ) (14.9 ) — — Eliminations / Other corporate costs (0.8 ) (1.1 ) (12.4 ) (7.6 ) — — Total Eliminations / Corporate and Other costs (0.8 ) (1.1 ) (25.9 ) (22.5 ) — — Total $ 696.8 $ 630.9 $ 80.3 $ 59.1 11.5 % 9.4 % Revenue Operating Income (a) Operating Margin For the Six Months Ended June 30 2018 2017 2018 2017 2018 2017 Industrial Process $ 393.0 $ 378.4 $ 40.3 $ 23.4 10.3 % 6.2 % Motion Technologies 672.5 577.4 117.4 107.1 17.5 % 18.5 % Connect & Control Technologies 322.0 302.9 50.3 30.9 15.6 % 10.2 % Total segment results 1,387.5 1,258.7 208.0 161.4 15.0 % 12.8 % Asbestos-related benefit (costs), net — — 6.2 (29.8 ) — — Eliminations / Other corporate costs (1.4 ) (2.0 ) (23.3 ) (15.5 ) — — Total Eliminations / Corporate and Other costs (1.4 ) (2.0 ) (17.1 ) (45.3 ) — — Total $ 1,386.1 $ 1,256.7 $ 190.9 $ 116.1 13.8 % 9.2 % (a) Operating income and operating margin for the three and six months ended June 30, 2017 has been restated to reflect the adoption of ASU 2017-07. Refer to Note 2 , Recent Accounting Pronouncements for further information. Total Assets Capital Expenditures Depreciation & Amortization For the Six Months Ended June 30 2018 2017 (b) 2018 2017 2018 2017 Industrial Process $ 1,004.4 $ 1,025.7 $ 1.8 $ 12.4 $ 13.7 $ 13.5 Motion Technologies 1,170.9 1,140.4 40.0 34.3 28.7 22.0 Connect & Control Technologies 705.9 694.8 4.3 6.5 10.7 11.7 Corporate and Other 918.5 839.3 0.2 0.1 2.1 3.2 Total $ 3,799.7 $ 3,700.2 $ 46.3 $ 53.3 $ 55.2 $ 50.4 (b) Amounts reflect balances as of December 31, 2017

REVENUE REVENUE

REVENUE REVENUE	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUE The following table represents our revenue disaggregated by product category for the three and six months ended June 30, 2018 . For the Three Months Ended June 30, 2018 Industrial Process Motion Technologies Connect & Control Technologies Eliminations Total Industrial pumps $ 153.2 $ — $ — $ — $ 153.2 Oil & gas pumps and components 50.0 — 10.1 — 60.1 Vehicle components — 284.4 — (0.1 ) 284.3 Aerospace & defense components — 2.7 96.1 — 98.8 Rail components — 38.1 — — 38.1 Industrial components and other — 5.1 57.9 (0.7 ) 62.3 Total $ 203.2 $ 330.3 $ 164.1 $ (0.8 ) $ 696.8 For the Six Months Ended June 30, 2018 Industrial Process Motion Technologies Connect & Control Technologies Eliminations Total Industrial pumps $ 294.7 $ — $ — $ — $ 294.7 Oil & gas pumps and components 98.3 — 19.1 — 117.4 Vehicle components — 584.0 — (0.1 ) 583.9 Aerospace & defense components — 4.5 183.7 — 188.2 Rail components — 77.1 — — 77.1 Industrial components and other — 6.9 119.2 (1.3 ) 124.8 Total $ 393.0 $ 672.5 $ 322.0 $ (1.4 ) $ 1,386.1 Revenue recognized related to our Industrial Process segment primarily consists of pumps, valves and plant optimization systems and services which serve the general industrial, oil and gas, chemical and petrochemical, pharmaceutical, mining, pulp and paper, food and beverage, and power generation markets. Many of Industrial Process’s products are highly engineered and customized to our customer needs and therefore do not have an alternative use. For these longer term design and build projects, if the contracts states that we also have an enforceable right to payment, we recognize revenue over time using the cost-to-total-cost method as we satisfy the performance obligations identified in the contract. If no right to payment exists, revenue is recognized at a point in time, generally based on shipping terms. A majority of our design and build project contracts currently do not have a right to payment. For other pumps that do have an alternative use to us, revenue is recognized at a point in time. Revenue on service and repair contracts, representing approximately 3% of consolidated ITT revenue, is recognized after services have been agreed to by the customer and rendered or over the service period. Our Motion Technologies segment manufactures brake pads, shims, shock absorbers, and damping and sealing technologies primarily for the transportation industry. Our Connect & Control Technologies segment manufactures a range of highly engineered connectors and specialized control components for critical applications. In both of these segments, most products have an alternative use. Therefore, revenue is recognized at a point in time when control passes to the customer. In certain circumstances, we have concluded we do not have an alternative use for the component product. In these cases, due to the short-term nature of the production process we use a units-of-delivery method of revenue recognition which faithfully depicts the transfer of control to the customer. Contract Assets and Liabilities Contract assets consist of unbilled amounts where revenue recognized exceeds customer billings. Contract liabilities consist of advance payments and billings in excess of revenue recognized. The following table represents our net contract assets and liabilities as of June 30, 2018 . June 30, 2018 January 1, 2018 Change Current contract assets $ 24.8 $ 43.2 (42.6 )% Noncurrent contract assets 0.7 — 100.0 % Current contract liabilities (60.6 ) (61.7 ) (1.8 )% Net contract liabilities $ (35.1 ) $ (18.5 ) 89.7 % During the six months ended June 30, 2018 , the increase in our net contract liability of $16.6 , or 89.7% , was primarily due to higher customer billings. During the three and six months ended June 30, 2018 , we recognized revenue of $15.2 and $46.1 , respectively, related to contract liabilities at January 1, 2018. For contracts greater than one year, the aggregate amount of the transaction price allocated to unsatisfied or partially satisfied performance obligations as of June 30, 2018 was $44.4 . Of this amount, we expect to recognize approximately $15 to $20 of revenue during 2018, and the remainder in 2019. As of June 30, 2018 , deferred contract costs were $7.1 , primarily related to pre-contract costs. During the three and six months ended June 30, 2018 , we amortized $0.2 and $0.4

RESTRUCTURING ACTIONS RESTRUCTU

RESTRUCTURING ACTIONS RESTRUCTURING ACTIONS	6 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
RESTRUCTURING ACTIONS	RESTRUCTURING ACTIONS The table below summarizes the restructuring costs presented within general and administrative expenses in our Consolidated Condensed Statements of Operations for the three and six months ended June 30, 2018 and 2017 . We have initiated various restructuring activities throughout our businesses during the past two years, however there were no restructuring activities considered to be individually significant. Three Months Six Months For the Periods Ended June 30 2018 2017 2018 2017 Severance costs $ 1.0 $ 1.6 $ 1.6 $ 2.7 Other restructuring costs 0.2 0.1 0.5 1.6 Total restructuring costs $ 1.2 $ 1.7 $ 2.1 $ 4.3 By segment: Industrial Process $ (0.1 ) $ 0.4 $ — $ 1.7 Motion Technologies 0.9 0.6 1.3 0.8 Connect & Control Technologies 0.4 0.7 0.8 1.2 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 six months ended June 30, 2018 and 2017 . For the Periods Ended June 30 2018 2017 Restructuring accruals - beginning balance $ 8.9 $ 14.6 Restructuring costs 2.1 4.3 Cash payments (4.2 ) (8.9 ) Foreign exchange translation and other 0.9 1.4 Restructuring accrual - ending balance $ 7.7 $ 11.4 By accrual type: Severance accrual $ 6.8 $ 9.6 Facility carrying and other costs accrual 0.9 1.8

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For the three months ended June 30, 2018 and 2017 , the Company recognized income tax expense of $8.9 and $10.6 and had an effective tax rate of 11.3% and 18.1% , respectively. For the six months ended June 30, 2018 and 2017 , the Company recognized income tax expense of $16.5 and $19.7 and had an effective tax rate of 8.8% and 17.4% , respectively. The lower effective tax rate in 2018 is primarily due to tax benefits of $21.6 from the reversal of a valuation allowance on German deferred tax assets and $4.5 from a reduction to the provisional one-time tax charge associated with the 2017 U.S. tax reform. Our effective tax rate in 2018 includes the impact of the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) that was approved by Congress on December 20, 2017 and signed into law by the U.S. President on December 22, 2017. The Tax Act significantly changes the U.S. corporate income tax rules most of which are effective January 1, 2018. On December 22, 2017 the SEC issued guidance under Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting for certain income tax effects of the Tax Act and therefore records provisional amounts under the Tax Act. The ultimate impact of the Tax Act may differ from these provisional amounts, possibly materially, due to, among other things, additional analysis, changes in interpretations and assumptions a company has made, additional regulatory guidance that may be issued, and actions a company may take as a result of the Tax Act. Quantifying the impact of the Tax Act is subject to guidance and regulations to be issued by the U.S. Treasury and possible changes to state tax laws. The Company is currently unable to compute with certainty the impact of the Tax Act on its financial statements. The Company has performed provisional computations of the impact of the Tax Act and has recorded the provisional amounts in its 2017 financial statements. The Company has updated some of these provisional computations to account for further guidance from the United States Treasury Department. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date. The Tax Act imposed a one-time tax on accumulated earnings of foreign subsidiaries as of December 31, 2017. In its 2017 financial statements, the Company recognized the provisional tax impacts resulting from the Tax Act. The Company has updated the provisional one-time tax amount to $53.5 as compared to $58 reported in December 31, 2017 financial statements. The Company intends to distribute most earnings of its foreign subsidiaries to the U.S. in future years, and therefore is no longer asserting permanent reinvestment of these earnings outside the U.S. Further, the Company will provide for any U.S. state and foreign taxes on distributions of future earnings of its foreign subsidiaries as these earnings will not be considered permanently reinvested in the foreign countries. The Company has performed provisional computations and has not provided deferred taxes on its remaining excess of financial reporting over tax bases of investments in its foreign subsidiaries that it intends to permanently reinvest outside the U.S. The Company anticipates that accumulated foreign earnings of $1.1 billion and future earnings of its foreign subsidiaries that are considered not permanently reinvested will be sufficient to meet its U.S. cash needs. In the event additional foreign funds are needed to support U.S. operations, and if U.S. tax has not already been previously provided, we would be required to accrue and pay additional U.S. and foreign taxes. The Tax Act limits the deductibility of compensation for certain senior officers. The Company has determined that certain deferred tax assets associated with officer compensation may not be deductible. The Company has therefore written off a provisional amount of $2.8 of deferred tax assets relating to such compensation. The Tax Act adopts a new rule “Global Intangible Low Taxed Income” (GILTI) that requires certain income of controlled foreign corporations to be subject to U.S. taxation. We are allowed under ASC 740 to make an accounting policy choice of either (1) treating taxes due on future U.S. inclusions in taxable income related to GILTI as a current period expense when incurred or (2) factoring such amounts into the Company’s measurement of its deferred taxes. Because of the complexity of these rules, and anticipated guidance from U.S. Treasury we will continue to evaluate the impact on the Company’s financial statements. Therefore, we have not recorded any deferred taxes related to GILTI and have not made a policy decision regarding whether to record deferred taxes on GILTI. 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, Czech Republic, Germany, Hong Kong, India, Italy, Mexico, 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 $16 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	6 Months Ended
	Jun. 30, 2018
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 and six months ended June 30, 2018 and 2017 . Three Months Six Months For the Periods Ended June 30 2018 2017 2018 2017 Basic weighted average common shares outstanding 87.5 88.5 87.8 88.4 Add: Dilutive impact of outstanding equity awards 0.9 0.5 0.9 0.7 Diluted weighted average common shares outstanding 88.4 89.0 88.7 89.1 There were no anti-dilutive shares underlying stock options excluded from the computation of diluted earnings per share for the three and six months ended June 30, 2018 . During the three and six months ended June 30, 2017 there were 0.4 anti-dilutive shares underlying stock options excluded from the computation of diluted earnings per share in both periods with a weighted average exercise price per share of $42.30 and $42.41 , respectively. Anti-dilutive shares underlying stock options for the three and six months ended June 30, 2017 will expire between 2024 and 2025 . In addition, 0.1 of outstanding performance stock units (PSU) awards were excluded from the computation of diluted earnings per share for the three and six months ended June 30, 2018 , and 0.3 of outstanding PSU awards were excluded from the computation of diluted earnings per share for the three and six months ended June 30, 2017

RECEIVABLES, NET

RECEIVABLES, NET	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
RECEIVABLES, NET	RECEIVABLES, NET June 30, December 31, Trade accounts receivable (See Note 2) $ 553.6 $ 601.4 Notes receivable 4.9 3.9 Other 17.9 40.4 Receivables, gross 576.4 645.7 Less: Allowance for doubtful accounts (16.0 ) (16.1 ) Receivables, net $ 560.4 $ 629.6

INVENTORIES, NET

INVENTORIES, NET	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
INVENTORIES, NET	INVENTORIES, NET June 30, December 31, Finished goods $ 63.7 $ 55.9 Work in process 84.4 54.8 Raw materials 208.0 184.4 Inventoried costs related to long-term contracts 37.4 38.1 Total inventory before progress payments 393.5 333.2 Less: Progress payments (see Note 2) — (21.3 ) Inventories, net $ 393.5 $ 311.9

OTHER CURRENT AND NON-CURRENT A

OTHER CURRENT AND NON-CURRENT ASSETS	6 Months Ended
	Jun. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER CURRENT AND NON-CURRENT ASSETS	OTHER CURRENT AND NON-CURRENT ASSETS June 30, December 31, Asbestos-related assets $ 64.7 $ 64.7 Advance payments and other prepaid expenses 48.1 50.9 Short-term contract asset (see Note 2) 24.8 — Prepaid income taxes 35.9 30.3 Other 1.6 1.5 Other current assets $ 175.1 $ 147.4 Other employee benefit-related assets $ 114.7 $ 111.3 Capitalized software costs 37.2 41.9 Environmental-related assets 23.3 24.5 Equity method investments 7.8 6.7 Other 20.2 18.5 Other non-current assets $ 203.2 $ 202.9

PLANT, PROPERTY AND EQUIPMENT,

PLANT, PROPERTY AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
PLANT, PROPERTY AND EQUIPMENT, NET	PLANT, PROPERTY AND EQUIPMENT, NET June 30, December 31, Land and improvements $ 28.2 $ 28.7 Machinery and equipment 1,043.5 1,039.9 Buildings and improvements 260.8 262.5 Furniture, fixtures and office equipment 73.7 74.5 Construction work in progress 57.7 58.4 Other 10.4 10.9 Plant, property and equipment, gross 1,474.3 1,474.9 Less: Accumulated depreciation (968.2 ) (953.2 ) Plant, property and equipment, net $ 506.1 $ 521.7 Depreciation expense of $21.0 and $19.2 , and $41.7 and $37.5 was recognized in the three and six months ended June 30, 2018 and 2017

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS, NET	6 Months Ended
	Jun. 30, 2018
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 six months ended June 30, 2018 by segment. Industrial Process Motion Technologies Connect & Control Technologies Total Goodwill - December 31, 2017 $ 324.5 $ 295.6 $ 266.7 $ 886.8 Adjustments to purchase price allocations — 3.3 — 3.3 Foreign exchange translation (6.0 ) (3.5 ) (0.7 ) (10.2 ) Goodwill - June 30, 2018 $ 318.5 $ 295.4 $ 266.0 $ 879.9 Goodwill adjustments to purchase price allocations are related to our acquisition of Axtone Railway Components (Axtone) in the first quarter of 2017. The acquired goodwill, representing the excess of the purchase price over the net assets acquired, has been adjusted to reflect the final fair value of the net assets acquired. Refer to Note 19 , Acquisitions , for additional information. Other Intangible Assets, Net Information regarding our other intangible assets is as follows: June 30, 2018 December 31, 2017 Gross Carrying Amount Accumulated Amortization Net Intangibles Gross Carrying Amount Accumulated Amortization Net Intangibles Customer relationships $ 164.4 $ (80.0 ) $ 84.4 $ 166.2 $ (74.4 ) $ 91.8 Proprietary technology 53.9 (23.7 ) 30.2 54.4 (21.8 ) 32.6 Patents and other 12.6 (9.2 ) 3.4 13.5 (9.2 ) 4.3 Finite-lived intangible total 230.9 (112.9 ) 118.0 234.1 (105.4 ) 128.7 Indefinite-lived intangibles 27.3 — 27.3 27.5 — 27.5 Other intangible assets $ 258.2 $ (112.9 ) $ 145.3 $ 261.6 $ (105.4 ) $ 156.2 Amortization expense related to finite-lived intangible assets was $4.3 and $4.6 , and $8.9 and $9.2 for the three and six months ended June 30, 2018 and 2017

ACCRUED AND OTHER CURRENT LIABI

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES	6 Months Ended
	Jun. 30, 2018
Payables and Accruals [Abstract]
ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES	ACCRUED LIABILITIES AND OTHER NON-CURRENT LIABILITIES June 30, December 31, Compensation and other employee-related benefits $ 129.5 $ 147.2 Contract liabilities and other customer-related liabilities (see Note 2) 81.9 45.5 Asbestos-related liabilities 77.2 77.1 Accrued income taxes and other tax-related liabilities 34.1 36.1 Environmental liabilities and other legal matters 22.7 22.8 Accrued warranty costs 18.0 17.0 Other accrued liabilities 34.3 38.7 Accrued liabilities $ 397.7 $ 384.4 Environmental liabilities $ 56.8 $ 63.6 Compensation and other employee-related benefits 34.8 36.4 Deferred income taxes and other tax-related accruals 32.2 19.3 Other 48.9 56.3 Other non-current liabilities $ 172.7 $ 175.6

DEBT Debt (Notes)

DEBT Debt (Notes)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt [Text Block]	DEBT June 30, December 31, Commercial paper $ — $ 162.4 Short-term loans 209.6 — Current maturities of long-term debt and capital leases 1.1 1.2 Short-term loans and current maturities of long-term debt 210.7 163.6 Long-term debt and capital leases 7.2 8.3 Total debt and capital leases $ 217.9 $ 171.9 Commercial Paper As of June 30, 2018 , there was no Commercial paper outstanding. As of December 31, 2017 , Commercial paper had an associated weighted average interest rate of 2.09% and maturity terms less than one month from the date of issuance. Short-term Loans Short-term loans consist of outstanding borrowings under our $500 Revolving Credit Agreement (the Revolving Credit Agreement). Outstanding borrowings under our Revolving Credit Agreement as of June 30, 2018 were denominated in Euros with an associated weighted average interest rate of 1.1% . As of December 31, 2017 , we had no outstanding obligations under the Revolving Credit Agreement. Refer to the Liquidity

POSTRETIREMENT BENEFIT PLANS

POSTRETIREMENT BENEFIT PLANS	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
POSTRETIREMENT BENEFIT PLANS	POSTRETIREMENT BENEFIT PLANS The following table provides the components of net periodic benefit cost for pension plans and other employee-related benefit plans for the three and six months ended June 30, 2018 and 2017 . 2018 2017 For the Three Months Ended June 30 Pension Other Benefits Total Pension Other Benefits Total Service cost $ 0.4 $ 0.2 $ 0.6 $ 0.6 $ 0.2 $ 0.8 Interest cost 2.8 1.1 3.9 3.0 1.2 4.2 Expected return on plan assets (a) (3.4 ) (0.1 ) (3.5 ) (3.7 ) (0.1 ) (3.8 ) Amortization of prior service cost (benefit) 0.2 (1.3 ) (1.1 ) 0.3 (1.5 ) (1.2 ) Amortization of net actuarial loss 1.5 1.1 2.6 1.8 1.0 2.8 Total net periodic benefit cost $ 1.5 $ 1.0 $ 2.5 $ 2.0 $ 0.8 $ 2.8 2018 2017 For the Six Months Ended June 30 Pension Other Total Pension Other Total Service cost $ 0.8 $ 0.4 $ 1.2 $ 1.2 $ 0.4 $ 1.6 Interest cost 5.6 2.2 7.8 6.0 2.3 8.3 Expected return on plan assets (a) (6.8 ) (0.2 ) (7.0 ) (7.5 ) (0.2 ) (7.7 ) Amortization of prior service cost (benefit) 0.4 (2.6 ) (2.2 ) 0.5 (2.9 ) (2.4 ) Amortization of net actuarial loss 3.0 2.2 5.2 3.5 2.1 5.6 Total net periodic benefit cost $ 3.0 $ 2.0 $ 5.0 $ 3.7 $ 1.7 $ 5.4 (a) Includes plan administrative expenses of $0.9 and $0.8 , and $1.8 and $1.6 for the three and six months ended June 30, 2018 and 2017 , respectively. The prior year plan administrative expenses have been reclassified from the service cost component line to conform to the current year presentation. We made contributions to our global postretirement plans of $6.8 and $6.4 during the six months ended June 30, 2018 and 2017 , respectively. We expect to make contributions of approximately $7 to $11 during the remainder of 2018 , 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 and $1.2 , and $2.2 and $2.3 , net of tax, during the three and six months ended June 30, 2018 and 2017

LONG-TERM INCENTIVE EMPLOYEE CO

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION	6 Months Ended
	Jun. 30, 2018
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 and six months ended June 30, 2018 and 2017 . Three Months Six Months For the Periods Ended June 30 2018 2017 2018 2017 Equity-based awards $ 5.7 $ 3.6 $ 10.2 $ 7.3 Liability-based awards 0.7 0.4 0.8 0.9 Total share-based compensation expense $ 6.4 $ 4.0 $ 11.0 $ 8.2 At June 30, 2018 , there was $24.5 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 2.2 years. Additionally, unrecognized compensation cost related to liability-based awards was $4.0 , which is expected to be recognized ratably over a weighted-average period of 2.1 years. Year-to-Date 2018 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 six months ended June 30, 2018 , 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 $ 52.94 Performance stock units (PSUs) 0.1 $ 57.15 During the six months ended June 30, 2018 and 2017 , 0.2 and 0.3 non-qualified stock options were exercised resulting in proceeds of $4.7 and $6.5 , respectively. During both the six months ended June 30, 2018 and 2017 , RSUs of 0.2 vested and were issued, respectively. During the six months ended June 30, 2018 , PSUs of 0.1 that vested on December 31, 2017 were issued. There were no

CAPITAL STOCK

CAPITAL STOCK	6 Months Ended
	Jun. 30, 2018
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 (the 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. During the six months ended June 30, 2018 and 2017 , we repurchased and retired 1.0 and 0.8 shares of common stock for $50.0 and $30.0 , respectively, under this program. To date, the Company has repurchased 22.1 shares for $909.4 under the Share Repurchase Program. Separate from the Share Repurchase Program, the Company repurchased 0.1 shares during both the six months ended June 30, 2018 and 2017 , respectively, for an aggregate price of $5.4 and $2.8

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018 , there were approximately 25 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 Six Months Ended June 30 (in thousands) 2018 Pending claims – Beginning 26 New claims 2 Settlements — Dismissals (3 ) Pending claims – Ending 25 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 a 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 June 30, 2018 other than the incremental accrual to maintain a rolling 10-year forecast period. During the first quarter of 2018, we entered into a settlement agreement with an insurer to settle responsibility for multiple insurance claims. Under the terms of the coverage-in-place agreement, the insurer agreed to an upfront payment to a Qualified Settlement Fund (QSF) for past costs in addition to providing coverage for certain future asbestos claims on specified terms and conditions. Insurance payments under the coverage-in-place agreement will be made to a QSF as claims are settled or adjudicated. The following table provides a rollforward of the estimated asbestos liability and related assets for the six months ended June 30, 2018 and 2017. 2018 2017 For the Six Months Ended June 30 Liability Asset Net Liability Asset Net Beginning balance $ 877.2 $ 368.7 $ 508.5 $ 954.3 $ 380.6 $ 573.7 Asbestos provision 32.0 6.1 25.9 34.8 5.0 29.8 Insurance settlement agreements — 32.1 (32.1 ) — — — Net cash activity (50.4 ) (19.6 ) (30.8 ) (46.5 ) (15.8 ) (30.7 ) Ending balance $ 858.8 $ 387.3 $ 471.5 $ 942.6 $ 369.8 $ 572.8 Current portion $ 77.2 $ 64.7 $ 76.6 $ 66.0 Noncurrent portion $ 781.6 $ 322.6 $ 866.0 $ 303.8 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 six months ended June 30, 2018 and 2017 . For the Six Months Ended June 30 2018 2017 Environmental liability - beginning balance $ 73.9 $ 76.6 Change in estimates for pre-existing accruals 3.3 1.7 Accruals added during the period for new matters 2.0 — Net cash activity (12.2 ) (5.3 ) Foreign currency 0.1 0.1 Environmental liability - ending balance $ 67.1 $ 73.1 We are currently involved with 33 active environmental investigation and remediation sites. At June 30, 2018 , we have estimated the potential high-end liability range of environmental-related matters to be $116.5 . 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 received a civil subpoena from the Department of Defense, Office of the Inspector General, in the second quarter of 2015 as part of an investigation being led by the Civil Division of the U.S. Department of Justice (DOJ). The subpoena and related investigation involve certain connector products manufactured by the Company’s Connect & Control Technologies segment that are purchased or used by the U.S. government. In addition, in the third quarter of 2017, the Company learned that the Criminal Division of DOJ is also investigating this matter. The Company is cooperating with the government and has produced documents responsive to the subpoena to the Civil Division. Based on its current analysis following discussions with DOJ to resolve the civil matter, the Company has accrued $5 as its current best estimate of the minimum amount of probable loss. It is reasonably possible that any actual loss related to this matter may be higher than this amount, but at this time management is unable to estimate a range of potential loss in excess of the amount accrued.

ACQUISITIONS (Notes)

ACQUISITIONS (Notes)	6 Months Ended
	Jun. 30, 2018
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 purchase price of $123.1 , net of cash acquired. Axtone, which had 2016 revenue of approximately $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 final purchase price for Axtone is based on the net assets acquired and liabilities assumed as of January 26, 2017, with the excess of the purchase price of $86 recorded as goodwill. 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. Allocation of Purchase Price for Axtone Cash $ 9.4 Receivables 11.5 Inventory 13.6 Plant, property and equipment 13.1 Goodwill 86.0 Other intangible assets 9.9 Other assets 5.5 Accounts payable and accrued liabilities (15.2 ) Postretirement liabilities (4.2 ) Other liabilities (6.5 ) Net assets acquired $ 123.1

SUBSEQUENT EVENTS Subsequent Ev

SUBSEQUENT EVENTS Subsequent Events (Notes)	6 Months Ended
	Jun. 30, 2018
Subsequent Event [Line Items]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS On July 27, 2018 , the Company completed the sale of excess property for a cash purchase price of $41.0 and recorded a pre-tax gain of approximately $40

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2018
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, 2017 (the 2017 Annual Report) in preparing these unaudited financial statements, other than those described below. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2017 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. Certain prior year amounts have been reclassified or restated to conform to the current year presentation. For further information, refer to Note 2 , Recent Accounting Pronouncements
Revenue Recognition, Policy [Policy Text Block]	Update to Summary of Significant Accounting Policies Revenue Recognition Revenue is derived from the sale of products and services to customers. We recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. For product sales, we consider practical and contractual limitations in determining whether there is an alternative use for the product. For example, long-term design and build contracts are typically highly customized to a customer’s specifications. For contracts with no alternative use and an enforceable right to payment for work performed to date, including a reasonable profit if the contract were terminated at the customer’s convenience, we recognize revenue over time. All other product sales are recognized at a point in time. For contracts recognized over time, we use the cost-to-total cost method or the units of delivery method, depending on the nature of the contract, including length of production time. For contracts recognized at a point in time, we recognize revenue when control passes to the customer, which is generally based on shipping terms when title and risk and rewards pass to the customer. However, we also consider certain customer acceptance provisions as certain contracts with customers include installation, testing, certification or other acceptance provisions. In instances where contractual terms include a provision for customer acceptance, we consider whether we have previously demonstrated that the product meets the specified criteria based on either seller or customer-specified objective criteria in assessing whether control has passed to the customer. For service contracts, we recognize revenue as the services are rendered if the customer is benefiting from the service as it is performed, or upon completion of the service. Separately priced extended warranties are recognized as a separate performance obligation over the warranty period. The transaction price in our contracts consists of fixed consideration and the impact of variable consideration including returns, rebates and allowances and penalties. Variable consideration is generally estimated using a probability-weighted approach based on historical experience, known trends and current factors including market conditions and status of negotiations. When there is more than one performance obligation, the transaction price is allocated to the performance obligations based on the relative estimated standalone selling prices. If not sold separately, estimated standalone selling prices are determined considering various factors including market and pricing trends, geography, product customization and profit objectives. Revenue is recognized when the appropriate revenue recognition criteria for the individual performance obligations have been satisfied. Revenue is reported net of any required taxes collected from customers and remitted to government authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Shipping and handling activities are accounted for as activities to fulfill a promise to transfer a product to a customer. As such, shipping and handling activities are not evaluated as a separate performance qualification. For most contracts, payment is due from the customer within 30 to 90 days after the product is delivered or the service has been performed. For design and build contracts, we generally collect progress payments from the customer throughout the term of the contract, resulting in contract assets or liabilities depending on the timing of the payments. Contract assets consist of unbilled amounts when revenue recognized exceeds customer billings. Contract liabilities consist of advance payments and billings in excess of revenue recognized.

RECENT ACCOUNTING PRONOUNCEME32

RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2018
Recent Acconting Pronouncements [Abstract]
Accounting Pronouncements Recently Adopted	Accounting Pronouncements Recently Adopted In May 2014, the FASB issued ASU 2014-09 amending the existing accounting standards for revenue recognition. The new standard was effective for ITT as of January 1, 2018. Most revenue streams are recorded consistently under both the new standard and the previous standard. However, the timing of revenue recognition of certain design and build contracts in our Industrial Process segment, recognized using the percentage of completion method under the previous standard, is now dependent on certain terms within the contract and therefore will vary based on the new guidance. ITT adopted this guidance using a modified retrospective approach. As of the date of adoption, we have recognized approximately $49 of revenue and $5 of operating income on open contracts in our Industrial Process segment using the percentage of completion method that under the new guidance are recognized at a point in time, resulting in a cumulative adjustment to the opening balance in retained earnings of $4 , net of tax. The comparative information has not been restated and continues to be reported under the accounting guidance in effect in those periods. Additionally, the new guidance resulted in a change in balance sheet presentation. Certain progress payments, previously presented as a reduction of inventory, are now presented within accrued liabilities. Unbilled receivables, previously presented within receivables, net, are now presented within other current or non-current assets. The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet related to the adoption of ASU 2014-09 is as follows: Balance as of December 31, 2017 Cumulative Effect of Adjustments Balance as of January 1, 2018 Assets: Receivables, net $ 629.6 $ (71.9 ) $ 557.7 Inventories, net 311.9 66.3 378.2 Other current assets 147.4 43.2 190.6 Deferred income taxes 149.9 1.0 150.9 Liabilities: Accrued liabilities 384.4 43.7 428.1 Other non-current liabilities 175.6 (1.0 ) 174.6 Equity: Retained earnings 1,856.1 (4.1 ) 1,852.0 The impacts to our Consolidated Statements of Operation for the three and six months ended June 30, 2018 , and our Consolidated Balance Sheet as of June 30, 2018 had we not adopted ASU 2014-09 are as follows: Three Months Six Months As of or for the Periods Ended June 30, 2018 As Reported Amounts under previous standard Effect of Change As Reported Amounts under previous standard Effect of Change Statement of Operations Revenue $ 696.8 $ 699.2 $ 2.4 $ 1,386.1 $ 1,394.3 $ 8.2 Costs of revenue 470.8 472.4 1.6 935.9 943.2 7.3 Income tax expense 8.9 8.7 0.2 16.5 16.7 0.2 Net income 69.9 70.5 0.6 171.2 171.9 0.7 Balance Sheets Assets: Receivables, net 560.4 614.9 54.5 Inventories, net 393.5 324.0 (69.5 ) Other current assets 175.1 150.3 (24.8 ) Deferred income taxes 164.0 162.7 (1.3 ) Liabilities: Accrued liabilities 397.7 350.8 (46.9 ) Other non-current liabilities 172.7 173.7 1.0 Equity: Retained earnings 1,959.3 1,964.1 4.8 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 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 are no longer 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. ITT adopted the ASU beginning in the first quarter of 2018. Service costs eligible for capitalization on the balance sheet in 2018 are considered immaterial. As a result of the adoption, our Consolidated Statement of Operations for the three and six months ended June 30, 2017 was restated as follows: For the Three Months Ended June 30, 2017 Previously Reported Effect of Change Restated Costs of revenue $ 426.5 $ (0.6 ) $ 425.9 General and administrative expenses 65.3 (0.7 ) 64.6 Sales and marketing expenses 43.9 (0.1 ) 43.8 Operating income 57.7 1.4 59.1 Interest and non-operating (income) expenses, net (0.9 ) 1.4 0.5 For the Six Months Ended June 30, 2017 Previously Reported Effect of Change Restated Costs of revenue $ 850.0 $ (1.4 ) $ 848.6 General and administrative expenses 131.5 (1.2 ) 130.3 Sales and marketing expenses 87.0 (0.1 ) 86.9 Research and development expenses 45.1 (0.1 ) 45.0 Operating income 113.3 2.8 116.1 Interest and non-operating (income) expenses, net (0.1 ) 2.8 2.7 In November 2016, the FASB issued ASU 2016-18 which requires restricted cash to be included with cash and cash equivalents when reconciling the beginning and ending amounts on the of the Statement of Cash Flows. In addition, when cash and restricted cash are presented on separate lines on the Balance Sheet, an entity is required to reconcile the total cash, cash equivalents and restricted cash in the Statement of Cash Flows to the related line items in the Balance Sheet. The ASU requires a retrospective transition method and ITT adopted the ASU beginning in the first quarter of 2018. In March 2016, the 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 resulting in a cumulative-effect adjustment of $1.0 to increase retained earnings. The increase to retained earnings was driven by previously unrecognized tax benefits due to net operating loss carryforwards of $2.1 , offset by a reduction in retained earnings of $1.1
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Accounting Pronouncements Not Yet Adopted 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 financing 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

RECENT ACCOUNTING PRONOUNCEME33

RECENT ACCOUNTING PRONOUNCEMENTS Adoption of ASU 2014-09 (Tables) - Modified Retrospective Adoption of New Accounting Pronouncements [Member]	6 Months Ended
	Jun. 30, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Adoption of ASU 2014-09, Cumulative Effect Adjustments Due to Open Contracts [Table Text Block]	The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet related to the adoption of ASU 2014-09 is as follows: Balance as of December 31, 2017 Cumulative Effect of Adjustments Balance as of January 1, 2018 Assets: Receivables, net $ 629.6 $ (71.9 ) $ 557.7 Inventories, net 311.9 66.3 378.2 Other current assets 147.4 43.2 190.6 Deferred income taxes 149.9 1.0 150.9 Liabilities: Accrued liabilities 384.4 43.7 428.1 Other non-current liabilities 175.6 (1.0 ) 174.6 Equity: Retained earnings 1,856.1 (4.1 ) 1,852.0
Effect of Change from Adoption of ASU 2014-09 [Table Text Block]	The impacts to our Consolidated Statements of Operation for the three and six months ended June 30, 2018 , and our Consolidated Balance Sheet as of June 30, 2018 had we not adopted ASU 2014-09 are as follows: Three Months Six Months As of or for the Periods Ended June 30, 2018 As Reported Amounts under previous standard Effect of Change As Reported Amounts under previous standard Effect of Change Statement of Operations Revenue $ 696.8 $ 699.2 $ 2.4 $ 1,386.1 $ 1,394.3 $ 8.2 Costs of revenue 470.8 472.4 1.6 935.9 943.2 7.3 Income tax expense 8.9 8.7 0.2 16.5 16.7 0.2 Net income 69.9 70.5 0.6 171.2 171.9 0.7 Balance Sheets Assets: Receivables, net 560.4 614.9 54.5 Inventories, net 393.5 324.0 (69.5 ) Other current assets 175.1 150.3 (24.8 ) Deferred income taxes 164.0 162.7 (1.3 ) Liabilities: Accrued liabilities 397.7 350.8 (46.9 ) Other non-current liabilities 172.7 173.7 1.0 Equity: Retained earnings 1,959.3 1,964.1 4.8

RECENT ACCOUNTING PRONOUNCEME34

RECENT ACCOUNTING PRONOUNCEMENTS Adoption of ASU 2017-07 (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Standards Update 2017-07 [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	As a result of the adoption, our Consolidated Statement of Operations for the three and six months ended June 30, 2017 was restated as follows: For the Three Months Ended June 30, 2017 Previously Reported Effect of Change Restated Costs of revenue $ 426.5 $ (0.6 ) $ 425.9 General and administrative expenses 65.3 (0.7 ) 64.6 Sales and marketing expenses 43.9 (0.1 ) 43.8 Operating income 57.7 1.4 59.1 Interest and non-operating (income) expenses, net (0.9 ) 1.4 0.5 For the Six Months Ended June 30, 2017 Previously Reported Effect of Change Restated Costs of revenue $ 850.0 $ (1.4 ) $ 848.6 General and administrative expenses 131.5 (1.2 ) 130.3 Sales and marketing expenses 87.0 (0.1 ) 86.9 Research and development expenses 45.1 (0.1 ) 45.0 Operating income 113.3 2.8 116.1 Interest and non-operating (income) expenses, net (0.1 ) 2.8 2.7

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Revenue Operating Income (a) Operating Margin For the Three Months Ended June 30 2018 2017 2018 2017 2018 2017 Industrial Process $ 203.2 $ 192.3 $ 23.4 $ 15.3 11.5 % 8.0 % Motion Technologies 330.3 290.1 55.5 52.1 16.8 % 18.0 % Connect & Control Technologies 164.1 149.6 27.3 14.2 16.6 % 9.5 % Total segment results 697.6 632.0 106.2 81.6 15.2 % 12.9 % Asbestos-related costs, net — — (13.5 ) (14.9 ) — — Eliminations / Other corporate costs (0.8 ) (1.1 ) (12.4 ) (7.6 ) — — Total Eliminations / Corporate and Other costs (0.8 ) (1.1 ) (25.9 ) (22.5 ) — — Total $ 696.8 $ 630.9 $ 80.3 $ 59.1 11.5 % 9.4 % Revenue Operating Income (a) Operating Margin For the Six Months Ended June 30 2018 2017 2018 2017 2018 2017 Industrial Process $ 393.0 $ 378.4 $ 40.3 $ 23.4 10.3 % 6.2 % Motion Technologies 672.5 577.4 117.4 107.1 17.5 % 18.5 % Connect & Control Technologies 322.0 302.9 50.3 30.9 15.6 % 10.2 % Total segment results 1,387.5 1,258.7 208.0 161.4 15.0 % 12.8 % Asbestos-related benefit (costs), net — — 6.2 (29.8 ) — — Eliminations / Other corporate costs (1.4 ) (2.0 ) (23.3 ) (15.5 ) — — Total Eliminations / Corporate and Other costs (1.4 ) (2.0 ) (17.1 ) (45.3 ) — — Total $ 1,386.1 $ 1,256.7 $ 190.9 $ 116.1 13.8 % 9.2 %
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Total Assets Capital Expenditures Depreciation & Amortization For the Six Months Ended June 30 2018 2017 (b) 2018 2017 2018 2017 Industrial Process $ 1,004.4 $ 1,025.7 $ 1.8 $ 12.4 $ 13.7 $ 13.5 Motion Technologies 1,170.9 1,140.4 40.0 34.3 28.7 22.0 Connect & Control Technologies 705.9 694.8 4.3 6.5 10.7 11.7 Corporate and Other 918.5 839.3 0.2 0.1 2.1 3.2 Total $ 3,799.7 $ 3,700.2 $ 46.3 $ 53.3 $ 55.2 $ 50.4

REVENUE Revenue (Tables)

REVENUE Revenue (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table represents our revenue disaggregated by product category for the three and six months ended June 30, 2018 . For the Three Months Ended June 30, 2018 Industrial Process Motion Technologies Connect & Control Technologies Eliminations Total Industrial pumps $ 153.2 $ — $ — $ — $ 153.2 Oil & gas pumps and components 50.0 — 10.1 — 60.1 Vehicle components — 284.4 — (0.1 ) 284.3 Aerospace & defense components — 2.7 96.1 — 98.8 Rail components — 38.1 — — 38.1 Industrial components and other — 5.1 57.9 (0.7 ) 62.3 Total $ 203.2 $ 330.3 $ 164.1 $ (0.8 ) $ 696.8 For the Six Months Ended June 30, 2018 Industrial Process Motion Technologies Connect & Control Technologies Eliminations Total Industrial pumps $ 294.7 $ — $ — $ — $ 294.7 Oil & gas pumps and components 98.3 — 19.1 — 117.4 Vehicle components — 584.0 — (0.1 ) 583.9 Aerospace & defense components — 4.5 183.7 — 188.2 Rail components — 77.1 — — 77.1 Industrial components and other — 6.9 119.2 (1.3 ) 124.8 Total $ 393.0 $ 672.5 $ 322.0 $ (1.4 ) $ 1,386.1
Contract with Customer, Asset and Liability [Table Text Block]	The following table represents our net contract assets and liabilities as of June 30, 2018 . June 30, 2018 January 1, 2018 Change Current contract assets $ 24.8 $ 43.2 (42.6 )% Noncurrent contract assets 0.7 — 100.0 % Current contract liabilities (60.6 ) (61.7 ) (1.8 )% Net contract liabilities $ (35.1 ) $ (18.5 ) 89.7 %

RESTRUCTURING ACTIONS RESTRUC37

RESTRUCTURING ACTIONS RESTRUCTURING ACTIONS (Tables)	6 Months Ended
	Jun. 30, 2018
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 and six months ended June 30, 2018 and 2017 . We have initiated various restructuring activities throughout our businesses during the past two years, however there were no restructuring activities considered to be individually significant. Three Months Six Months For the Periods Ended June 30 2018 2017 2018 2017 Severance costs $ 1.0 $ 1.6 $ 1.6 $ 2.7 Other restructuring costs 0.2 0.1 0.5 1.6 Total restructuring costs $ 1.2 $ 1.7 $ 2.1 $ 4.3 By segment: Industrial Process $ (0.1 ) $ 0.4 $ — $ 1.7 Motion Technologies 0.9 0.6 1.3 0.8 Connect & Control Technologies 0.4 0.7 0.8 1.2 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 six months ended June 30, 2018 and 2017 . For the Periods Ended June 30 2018 2017 Restructuring accruals - beginning balance $ 8.9 $ 14.6 Restructuring costs 2.1 4.3 Cash payments (4.2 ) (8.9 ) Foreign exchange translation and other 0.9 1.4 Restructuring accrual - ending balance $ 7.7 $ 11.4 By accrual type: Severance accrual $ 6.8 $ 9.6 Facility carrying and other costs accrual 0.9 1.8

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2018
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 and six months ended June 30, 2018 and 2017 . Three Months Six Months For the Periods Ended June 30 2018 2017 2018 2017 Basic weighted average common shares outstanding 87.5 88.5 87.8 88.4 Add: Dilutive impact of outstanding equity awards 0.9 0.5 0.9 0.7 Diluted weighted average common shares outstanding 88.4 89.0 88.7 89.1

RECEIVABLES, NET (Tables)

RECEIVABLES, NET (Tables)	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
RECEIVABLES, NET	June 30, December 31, Trade accounts receivable (See Note 2) $ 553.6 $ 601.4 Notes receivable 4.9 3.9 Other 17.9 40.4 Receivables, gross 576.4 645.7 Less: Allowance for doubtful accounts (16.0 ) (16.1 ) Receivables, net $ 560.4 $ 629.6

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Inventories, Net	June 30, December 31, Finished goods $ 63.7 $ 55.9 Work in process 84.4 54.8 Raw materials 208.0 184.4 Inventoried costs related to long-term contracts 37.4 38.1 Total inventory before progress payments 393.5 333.2 Less: Progress payments (see Note 2) — (21.3 ) Inventories, net $ 393.5 $ 311.9

OTHER CURRENT AND NON-CURRENT41

OTHER CURRENT AND NON-CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current and Non Current Assets	June 30, December 31, Asbestos-related assets $ 64.7 $ 64.7 Advance payments and other prepaid expenses 48.1 50.9 Short-term contract asset (see Note 2) 24.8 — Prepaid income taxes 35.9 30.3 Other 1.6 1.5 Other current assets $ 175.1 $ 147.4 Other employee benefit-related assets $ 114.7 $ 111.3 Capitalized software costs 37.2 41.9 Environmental-related assets 23.3 24.5 Equity method investments 7.8 6.7 Other 20.2 18.5 Other non-current assets $ 203.2 $ 202.9

PLANT, PROPERTY AND EQUIPMENT42

PLANT, PROPERTY AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Plant, Property and Equipment, Net	June 30, December 31, Land and improvements $ 28.2 $ 28.7 Machinery and equipment 1,043.5 1,039.9 Buildings and improvements 260.8 262.5 Furniture, fixtures and office equipment 73.7 74.5 Construction work in progress 57.7 58.4 Other 10.4 10.9 Plant, property and equipment, gross 1,474.3 1,474.9 Less: Accumulated depreciation (968.2 ) (953.2 ) Plant, property and equipment, net $ 506.1 $ 521.7

GOODWILL AND OTHER INTANGIBLE43

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)	6 Months Ended
	Jun. 30, 2018
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 six months ended June 30, 2018 by segment. Industrial Process Motion Technologies Connect & Control Technologies Total Goodwill - December 31, 2017 $ 324.5 $ 295.6 $ 266.7 $ 886.8 Adjustments to purchase price allocations — 3.3 — 3.3 Foreign exchange translation (6.0 ) (3.5 ) (0.7 ) (10.2 ) Goodwill - June 30, 2018 $ 318.5 $ 295.4 $ 266.0 $ 879.9
Other Intangible Assets	Other Intangible Assets, Net Information regarding our other intangible assets is as follows: June 30, 2018 December 31, 2017 Gross Carrying Amount Accumulated Amortization Net Intangibles Gross Carrying Amount Accumulated Amortization Net Intangibles Customer relationships $ 164.4 $ (80.0 ) $ 84.4 $ 166.2 $ (74.4 ) $ 91.8 Proprietary technology 53.9 (23.7 ) 30.2 54.4 (21.8 ) 32.6 Patents and other 12.6 (9.2 ) 3.4 13.5 (9.2 ) 4.3 Finite-lived intangible total 230.9 (112.9 ) 118.0 234.1 (105.4 ) 128.7 Indefinite-lived intangibles 27.3 — 27.3 27.5 — 27.5 Other intangible assets $ 258.2 $ (112.9 ) $ 145.3 $ 261.6 $ (105.4 ) $ 156.2

ACCRUED AND OTHER CURRENT LIA44

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2018
Payables and Accruals [Abstract]
Accrued Liabilities and Other Non-Current Liabilities	June 30, December 31, Compensation and other employee-related benefits $ 129.5 $ 147.2 Contract liabilities and other customer-related liabilities (see Note 2) 81.9 45.5 Asbestos-related liabilities 77.2 77.1 Accrued income taxes and other tax-related liabilities 34.1 36.1 Environmental liabilities and other legal matters 22.7 22.8 Accrued warranty costs 18.0 17.0 Other accrued liabilities 34.3 38.7 Accrued liabilities $ 397.7 $ 384.4 Environmental liabilities $ 56.8 $ 63.6 Compensation and other employee-related benefits 34.8 36.4 Deferred income taxes and other tax-related accruals 32.2 19.3 Other 48.9 56.3 Other non-current liabilities $ 172.7 $ 175.6

DEBT Debt (Tables)

DEBT Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	June 30, December 31, Commercial paper $ — $ 162.4 Short-term loans 209.6 — Current maturities of long-term debt and capital leases 1.1 1.2 Short-term loans and current maturities of long-term debt 210.7 163.6 Long-term debt and capital leases 7.2 8.3 Total debt and capital leases $ 217.9 $ 171.9

POSTRETIREMENT BENEFIT PLANS (T

POSTRETIREMENT BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Net Periodic Benefit Cost of Pension Plans and Other Employee Related Benefit Plans	The following table provides the components of net periodic benefit cost for pension plans and other employee-related benefit plans for the three and six months ended June 30, 2018 and 2017 . 2018 2017 For the Three Months Ended June 30 Pension Other Benefits Total Pension Other Benefits Total Service cost $ 0.4 $ 0.2 $ 0.6 $ 0.6 $ 0.2 $ 0.8 Interest cost 2.8 1.1 3.9 3.0 1.2 4.2 Expected return on plan assets (a) (3.4 ) (0.1 ) (3.5 ) (3.7 ) (0.1 ) (3.8 ) Amortization of prior service cost (benefit) 0.2 (1.3 ) (1.1 ) 0.3 (1.5 ) (1.2 ) Amortization of net actuarial loss 1.5 1.1 2.6 1.8 1.0 2.8 Total net periodic benefit cost $ 1.5 $ 1.0 $ 2.5 $ 2.0 $ 0.8 $ 2.8 2018 2017 For the Six Months Ended June 30 Pension Other Total Pension Other Total Service cost $ 0.8 $ 0.4 $ 1.2 $ 1.2 $ 0.4 $ 1.6 Interest cost 5.6 2.2 7.8 6.0 2.3 8.3 Expected return on plan assets (a) (6.8 ) (0.2 ) (7.0 ) (7.5 ) (0.2 ) (7.7 ) Amortization of prior service cost (benefit) 0.4 (2.6 ) (2.2 ) 0.5 (2.9 ) (2.4 ) Amortization of net actuarial loss 3.0 2.2 5.2 3.5 2.1 5.6 Total net periodic benefit cost $ 3.0 $ 2.0 $ 5.0 $ 3.7 $ 1.7 $ 5.4 (a) Includes plan administrative expenses of $0.9 and $0.8 , and $1.8 and $1.6 for the three and six months ended June 30, 2018 and 2017

LONG-TERM INCENTIVE EMPLOYEE 47

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2018
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 and six months ended June 30, 2018 and 2017 . Three Months Six Months For the Periods Ended June 30 2018 2017 2018 2017 Equity-based awards $ 5.7 $ 3.6 $ 10.2 $ 7.3 Liability-based awards 0.7 0.4 0.8 0.9 Total share-based compensation expense $ 6.4 $ 4.0 $ 11.0 $ 8.2
Summary of Long-Term Incentive Plan Award Grants during year	During the six months ended June 30, 2018 , 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 $ 52.94 Performance stock units (PSUs) 0.1 $ 57.15

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Product Liability Contingencies [Table Text Block]	As of June 30, 2018 , there were approximately 25 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 Six Months Ended June 30 (in thousands) 2018 Pending claims – Beginning 26 New claims 2 Settlements — Dismissals (3 ) Pending claims – Ending 25
Roll Forward of Asbestos Liability and Related Assets	The following table provides a rollforward of the estimated asbestos liability and related assets for the six months ended June 30, 2018 and 2017. 2018 2017 For the Six Months Ended June 30 Liability Asset Net Liability Asset Net Beginning balance $ 877.2 $ 368.7 $ 508.5 $ 954.3 $ 380.6 $ 573.7 Asbestos provision 32.0 6.1 25.9 34.8 5.0 29.8 Insurance settlement agreements — 32.1 (32.1 ) — — — Net cash activity (50.4 ) (19.6 ) (30.8 ) (46.5 ) (15.8 ) (30.7 ) Ending balance $ 858.8 $ 387.3 $ 471.5 $ 942.6 $ 369.8 $ 572.8 Current portion $ 77.2 $ 64.7 $ 76.6 $ 66.0 Noncurrent portion $ 781.6 $ 322.6 $ 866.0 $ 303.8
Rollforward of Environmental Liability and Related Assets	The following table provides a rollforward of the estimated environmental liability for the six months ended June 30, 2018 and 2017 . For the Six Months Ended June 30 2018 2017 Environmental liability - beginning balance $ 73.9 $ 76.6 Change in estimates for pre-existing accruals 3.3 1.7 Accruals added during the period for new matters 2.0 — Net cash activity (12.2 ) (5.3 ) Foreign currency 0.1 0.1 Environmental liability - ending balance $ 67.1 $ 73.1

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2018
Axtone Railway Components Acquisition [Member]
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Allocation of Purchase Price for Axtone Cash $ 9.4 Receivables 11.5 Inventory 13.6 Plant, property and equipment 13.1 Goodwill 86.0 Other intangible assets 9.9 Other assets 5.5 Accounts payable and accrued liabilities (15.2 ) Postretirement liabilities (4.2 ) Other liabilities (6.5 ) Net assets acquired $ 123.1

RECENT ACCOUNTING PRONOUNCEME50

RECENT ACCOUNTING PRONOUNCEMENTS Adoption of ASU 2014-09 - Opening Balance Sheet Cumulative Effect Adjustments (Details) - Accounting Standards Update 2014-09 [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Accounts Receivable [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 71.9
Balance as of January 1, 2018 - Subsequent to Adoption of ASU 2014-09		$ 557.7
Balance as of December 31, 2017 - Prior to Adoption of ASU 2014-09			$ 629.6
Inventories [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(66.3)
Balance as of January 1, 2018 - Subsequent to Adoption of ASU 2014-09		378.2
Balance as of December 31, 2017 - Prior to Adoption of ASU 2014-09			311.9
Other Current Assets [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(43.2)
Balance as of January 1, 2018 - Subsequent to Adoption of ASU 2014-09		190.6
Balance as of December 31, 2017 - Prior to Adoption of ASU 2014-09			147.4
Deferred Tax Asset [Domain]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(1)
Balance as of January 1, 2018 - Subsequent to Adoption of ASU 2014-09		150.9
Balance as of December 31, 2017 - Prior to Adoption of ASU 2014-09			149.9
Accrued Liabilities [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	43.7
Balance as of January 1, 2018 - Subsequent to Adoption of ASU 2014-09		(428.1)
Balance as of December 31, 2017 - Prior to Adoption of ASU 2014-09			(384.4)
Other Noncurrent Liabilities [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(1)
Balance as of January 1, 2018 - Subsequent to Adoption of ASU 2014-09		(174.6)
Balance as of December 31, 2017 - Prior to Adoption of ASU 2014-09			(175.6)
Retained Earnings [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ (4.1)
Balance as of January 1, 2018 - Subsequent to Adoption of ASU 2014-09		$ (1,852)
Balance as of December 31, 2017 - Prior to Adoption of ASU 2014-09			$ (1,856.1)

RECENT ACCOUNTING PRONOUNCEME51

RECENT ACCOUNTING PRONOUNCEMENTS Adoption of ASU 2014-09 - Hypothetical Results Under Previous Standard (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Revenue	$ 696.8	$ 630.9	$ 1,386.1	$ 1,256.7
Costs of revenue	470.8	425.9	935.9	848.6
Income tax expense	8.9	10.6	16.5	19.7
Net income	69.9	$ 47.9	171.2	$ 93.5
Receivables, net	560.4		560.4		$ 629.6
Inventories, net	393.5		393.5		311.9
Total current assets	175.1		175.1		147.4
Deferred income taxes	164		164		149.9
Other non-current assets	203.2		203.2		202.9
Accrued liabilities	397.7		397.7		384.4
Other non-current liabilities	172.7		172.7		175.6
Retained earnings	1,959.3		1,959.3		$ 1,856.1
Hypothetical Amount Under Previous Standard [Member] | Accounting Standards Update 2014-09 [Member]
Revenue	699.2		1,394.3
Costs of revenue	472.4		943.2
Income tax expense	8.7		16.7
Net income	70.5		171.9
Receivables, net	614.9		614.9
Inventories, net	324		324
Total current assets	150.3		150.3
Deferred income taxes	162.7		162.7
Accrued liabilities	350.8		350.8
Other non-current liabilities	173.7		173.7
Retained earnings	1,964.1		1,964.1
Hypothetical Effect of Change Due to Adoption of New Accounting Pronouncement [Member] | Accounting Standards Update 2014-09 [Member]
Revenue	2.4		8.2
Costs of revenue	1.6		7.3
Income tax expense	0.2		0.2
Net income	0.6		0.7
Receivables, net	54.5		54.5
Inventories, net	(69.5)		(69.5)
Total current assets	(24.8)		(24.8)
Deferred income taxes	(1.3)		(1.3)
Accrued liabilities	(46.9)		(46.9)
Other non-current liabilities	1		1
Retained earnings	$ 4.8		$ 4.8

RECENT ACCOUNTING PRONOUNCEME52

RECENT ACCOUNTING PRONOUNCEMENTS Adoption of ASU 2014-09 - Textuals (Details) - Previously Recognized Amount on Open Contracts at Time of Adoption of Revenue ASU [Member] $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Sales Revenue, Net [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 49
Operating Income (Loss) [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	5
Retained Earnings [Member] | Initial Application Period Cumulative Effect Transition [Domain]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 4

RECENT ACCOUNTING PRONOUNCEME53

RECENT ACCOUNTING PRONOUNCEMENTS Adoption of ASU 2017-07 - Restatement of Prior Year Amounts (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017		Jun. 30, 2018	Jun. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenue	$ 470.8	$ 425.9		$ 935.9	$ 848.6
General and administrative expenses	63	64.6		128.1	130.3
Sales and marketing expenses	43.4	43.8		86.9	86.9
Research and development expenses	25.8	22.6		50.5	45
Operating income	80.3	59.1	[1]	190.9	116.1	[1]
Interest and non-operating (income) expenses, net	$ 1.5	0.5		$ 3.3	2.7
Accounting Standards Update 2017-07 [Member] | Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenue		(0.6)			(1.4)
General and administrative expenses		(0.7)			(1.2)
Sales and marketing expenses		(0.1)			(0.1)
Research and development expenses					(0.1)
Operating income		1.4			2.8
Interest and non-operating (income) expenses, net		1.4			2.8
Accounting Standards Update 2017-07 [Member] | Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenue		426.5			850
General and administrative expenses		65.3			131.5
Sales and marketing expenses		43.9			87
Research and development expenses					45.1
Operating income		57.7			113.3
Interest and non-operating (income) expenses, net		$ (0.9)			$ (0.1)
[1]	(a) Operating income and operating margin for the three and six months ended June 30, 2017 has been restated to reflect the adoption of ASU 2017-07. Refer to Note 2 , Recent Accounting Pronouncements

RECENT ACCOUNTING PRONOUNCEME54

RECENT ACCOUNTING PRONOUNCEMENTS Adoption of ASU 2016-06 - Textuals (Details) - Adjustments for New Accounting Pronouncement [Member] $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Previously Unrecognized Tax Benefits Due to NOL Carryforwards [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment for accounting change (See Note 2)	$ 2.1
Forfeiture Rate Estimate Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment for accounting change (See Note 2)	1.1
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment for accounting change (See Note 2)	$ 1

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Segment Reporting Information by Segment Revenue (Detail) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)		Jun. 30, 2018USD ($)Segment	Jun. 30, 2017USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments | Segment				3
Revenue	$ 696.8	$ 630.9		$ 1,386.1	$ 1,256.7
Operating income	$ 80.3	$ 59.1	[1]	$ 190.9	$ 116.1	[1]
Operating Margin	11.50%	9.40%	[1]	13.80%	9.20%	[1]
Total Segment Results [Member]
Segment Reporting Information [Line Items]
Revenue	$ 697.6	$ 632		$ 1,387.5	$ 1,258.7
Operating income	$ 106.2	$ 81.6	[1]	$ 208	$ 161.4	[1]
Operating Margin	15.20%	12.90%	[1]	15.00%	12.80%	[1]
Industrial Process [Member]
Segment Reporting Information [Line Items]
Revenue	$ 203.2	$ 192.3		$ 393	$ 378.4
Operating income	$ 23.4	$ 15.3	[1]	$ 40.3	$ 23.4	[1]
Operating Margin	11.50%	8.00%	[1]	10.30%	6.20%	[1]
Motion Technologies [Member]
Segment Reporting Information [Line Items]
Revenue	$ 330.3	$ 290.1		$ 672.5	$ 577.4
Operating income	$ 55.5	$ 52.1	[1]	$ 117.4	$ 107.1	[1]
Operating Margin	16.80%	18.00%	[1]	17.50%	18.50%	[1]
Connect & Control Technologies [Member]
Segment Reporting Information [Line Items]
Revenue	$ 164.1	$ 149.6		$ 322	$ 302.9
Operating income	$ 27.3	$ 14.2	[1]	$ 50.3	$ 30.9	[1]
Operating Margin	16.60%	9.50%	[1]	15.60%	10.20%	[1]
Total Eliminations / Corporate and Other costs
Segment Reporting Information [Line Items]
Revenue	$ (0.8)	$ (1.1)		$ (1.4)	$ (2)
Operating income	$ (25.9)	$ (22.5)	[1]	$ (17.1)	$ (45.3)	[1]
Operating Margin	0.00%	0.00%		0.00%	0.00%
Asbestos-related benefit (costs), net
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0		$ 0	$ 0
Operating income	$ (13.5)	$ (14.9)	[1]	$ 6.2	$ (29.8)
Operating Margin	0.00%	0.00%		0.00%	0.00%
Eliminations / Other corporate costs
Segment Reporting Information [Line Items]
Revenue	$ (0.8)	$ (1.1)		$ (1.4)	$ (2)
Operating income	$ (12.4)	$ (7.6)	[1]	$ (23.3)	$ (15.5)	[1]
Operating Margin	0.00%	0.00%		0.00%	0.00%
[1]	(a) Operating income and operating margin for the three and six months ended June 30, 2017 has been restated to reflect the adoption of ASU 2017-07. Refer to Note 2 , Recent Accounting Pronouncements

SEGMENT INFORMATION - Schedul56

SEGMENT INFORMATION - Schedule of Segment Reporting Information by Segment Assets (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	[1]
Segment Reporting Information [Line Items]
Total Assets	$ 3,799.7		$ 3,700.2
Capital Expenditures	46.3	$ 53.3
Depreciation & Amortization	55.2	50.4
Industrial Process [Member]
Segment Reporting Information [Line Items]
Total Assets	1,004.4		1,025.7
Capital Expenditures	1.8	12.4
Depreciation & Amortization	13.7	13.5
Motion Technologies [Member]
Segment Reporting Information [Line Items]
Total Assets	1,170.9		1,140.4
Capital Expenditures	40	34.3
Depreciation & Amortization	28.7	22
Connect & Control Technologies [Member]
Segment Reporting Information [Line Items]
Total Assets	705.9		694.8
Capital Expenditures	4.3	6.5
Depreciation & Amortization	10.7	11.7
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total Assets	918.5		$ 839.3
Capital Expenditures	0.2	0.1
Depreciation & Amortization	$ 2.1	$ 3.2
[1]	(b) Amounts reflect balances as of December 31, 2017

REVENUE Revenue (Details)

REVENUE Revenue (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 696.8	$ 1,386.1
Industrial Pumps [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	153.2	294.7
Oil and Gas Pumps and Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	60.1	117.4
Vehicle Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	284.3	583.9
Aerospace and Defense Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	98.8	188.2
Rail Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	38.1	77.1
Industrial Components and Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	62.3	124.8
Industrial Process [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	203.2	393
Industrial Process [Member] | Industrial Pumps [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	153.2	294.7
Industrial Process [Member] | Oil and Gas Pumps and Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	50	98.3
Industrial Process [Member] | Vehicle Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Industrial Process [Member] | Aerospace and Defense Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Industrial Process [Member] | Rail Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Industrial Process [Member] | Industrial Components and Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Motion Technologies [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	330.3	672.5
Motion Technologies [Member] | Industrial Pumps [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Motion Technologies [Member] | Oil and Gas Pumps and Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Motion Technologies [Member] | Vehicle Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	284.4	584
Motion Technologies [Member] | Aerospace and Defense Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2.7	4.5
Motion Technologies [Member] | Rail Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	38.1	77.1
Motion Technologies [Member] | Industrial Components and Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5.1	6.9
Connect & Control Technologies [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	164.1	322
Connect & Control Technologies [Member] | Industrial Pumps [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Connect & Control Technologies [Member] | Oil and Gas Pumps and Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	10.1	19.1
Connect & Control Technologies [Member] | Vehicle Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Connect & Control Technologies [Member] | Aerospace and Defense Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	96.1	183.7
Connect & Control Technologies [Member] | Rail Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Connect & Control Technologies [Member] | Industrial Components and Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	57.9	119.2
Consolidation, Eliminations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(0.8)	(1.4)
Consolidation, Eliminations [Member] | Industrial Pumps [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Consolidation, Eliminations [Member] | Oil and Gas Pumps and Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Consolidation, Eliminations [Member] | Vehicle Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(0.1)	(0.1)
Consolidation, Eliminations [Member] | Aerospace and Defense Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Consolidation, Eliminations [Member] | Rail Components [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0	0
Consolidation, Eliminations [Member] | Industrial Components and Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ (0.7)	$ (1.3)

REVENUE Contract Assets and Lia

REVENUE Contract Assets and Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Contract with Customer, Asset and Liability [Abstract]
Short-term contract asset (see Note 2)	$ 24.8	$ 43.2	$ 0
Current Contract Assets, Percentage Change from Prior Period	(42.60%)
Contract with Customer, Asset, Net, Noncurrent	$ 0.7	0
Noncurrent Contract Assets, Percentage Change from Prior Period	100.00%
Contract with Customer, Liability	$ (60.6)	(61.7)
Current Contract Liabilities, Percentage Change from Prior Period	(1.80%)
Net Contract Liabilities	$ (35.1)	$ (18.5)
Net Contract Liability, Change from Prior Year	$ (16.6)
Net Contract Liability, Percentage Change from Prior Period	89.70%

REVENUE Revenue Textuals (Detai

REVENUE Revenue Textuals (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)
Net Contract Liability, Change from Prior Year		$ (16.6)
Net Contract Liability, Percentage Change from Prior Period		89.70%
Capitalized Contract Cost, Net	$ 7.1	$ 7.1
Contract with Customer, Liability, Revenue Recognized	15.2	46.1
Capitalized Contract Cost, Amortization	0.2	0.4
Long-term Contract with Customer [Member]
Revenue, Remaining Performance Obligation, Amount	44.4	44.4
Long-term Contract with Customer [Member] | Minimum [Member]
Revenue, Remaining Performance Obligation, Amount	15	15
Long-term Contract with Customer [Member] | Maximum [Member]
Revenue, Remaining Performance Obligation, Amount	$ 20	$ 20
Revenue on Service and Repair Contracts [Member]
Revenue from Contract with Customer, Excluding Assessed Tax		3.00%

RESTRUCTURING ACTIONS Restruc60

RESTRUCTURING ACTIONS Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 1.2	$ 1.7	$ 2.1	$ 4.3
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1	1.6	1.6	2.7
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0.2	0.1	0.5	1.6
Industrial Process [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	(0.1)	0.4	0	1.7
Motion Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0.9	0.6	1.3	0.8
Connect & Control Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0.4	0.7	0.8	1.2
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0	$ 0	$ 0	$ 0.6

RESTRUCTURING ACTIONS Restruc61

RESTRUCTURING ACTIONS Restructuring Accrual Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning Balance			$ 8.9	$ 14.6
Restructuring costs	$ 1.2	$ 1.7	2.1	4.3
Payments for Restructuring			(4.2)	(8.9)
Restructuring Reserve, Translation Adjustment			0.9	1.4
Restructuring Reserve - Ending Balance	7.7	11.4	7.7	11.4
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1	1.6	1.6	2.7
Restructuring Reserve - Ending Balance	6.8	9.6	6.8	9.6
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0.2	0.1	0.5	1.6
Restructuring Reserve - Ending Balance	$ 0.9	$ 1.8	$ 0.9	$ 1.8

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Income tax expense	$ 8.9	$ 10.6	$ 16.5	$ 19.7
Effective income tax rate	11.30%	18.10%	8.80%	17.40%
Change to Provisional One-Time US Tax Expense on Post 1986 Foreign Earnings			$ 4.5
One Time Provisional US Tax Expense on Post 1986 Foreign Earnings			53.5		$ 58
Existing Post 1986 Foreign Earnings Subject to One Time US Tax			1,100
Write-Off of Deferred Tax Assets Relating to Officer Compensation			2.8
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 16		16
German Deferred Tax Assets [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount			$ 21.6

EARNINGS PER SHARE DATA - Basic

EARNINGS PER SHARE DATA - Basic and Diluted Loss Per Share (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Weighted average common shares – basic	87.5	88.5	87.8	88.4
Add: Dilutive impact of outstanding equity awards	0.9	0.5	0.9	0.7
Diluted weighted average common shares outstanding	88.4	89	88.7	89.1

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		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of PSU Awards Excluded from Diluted Shares Outstanding	0.1	0.3	0.1	0.3
Anti-dilutive stock options		0.4	0	0.4
Average exercise price		$ 42.30		$ 42.41
Minimum [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Years of expiration				2,024
Maximum [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Years of expiration				2,025

RECEIVABLES, NET - (Detail)

RECEIVABLES, NET - (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade accounts receivable (See Note 2)	$ 553.6	$ 601.4
Notes receivable	4.9	3.9
Other	17.9	40.4
Receivables, gross	576.4	645.7
Less: Allowance for doubtful accounts	(16)	(16.1)
Receivables, net	$ 560.4	$ 629.6

INVENTORIES, NET - Components o

INVENTORIES, NET - Components of Inventories, Net (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 63.7	$ 55.9
Work in process	84.4	54.8
Raw materials	208	184.4
Inventoried costs related to long-term contracts	37.4	38.1
Total inventory before progress payments	393.5	333.2
Less: Progress payments (see Note 2)	0	(21.3)
Inventories, net	$ 393.5	$ 311.9

OTHER CURRENT AND NON-CURRENT67

OTHER CURRENT AND NON-CURRENT ASSETS - Components of Other Current and Non-Current Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017	Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Asbestos-related assets	$ 64.7		$ 64.7	$ 66
Advance payments and other prepaid expenses	48.1		50.9
Short-term contract asset (see Note 2)	24.8	$ 43.2	0
Prepaid income taxes	35.9		30.3
Other	1.6		1.5
Other current assets	175.1		147.4
Other employee benefit-related assets	114.7		111.3
Capitalized software costs	37.2		41.9
Environmental-related assets	23.3		24.5
Equity method investments	7.8		6.7
Other	20.2		18.5
Other non-current assets	$ 203.2		$ 202.9

PLANT, PROPERTY AND EQUIPMENT68

PLANT, PROPERTY AND EQUIPMENT, NET - Components of Plant, Property and Equipment, Net (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Land and improvements	$ 28.2	$ 28.7
Machinery and equipment	1,043.5	1,039.9
Buildings and improvements	260.8	262.5
Furniture, fixtures and office equipment	73.7	74.5
Construction work in progress	57.7	58.4
Other	10.4	10.9
Plant, property and equipment, gross	1,474.3	1,474.9
Less: Accumulated depreciation	(968.2)	(953.2)
Plant, property and equipment, net	$ 506.1	$ 521.7

PLANT, PROPERTY AND EQUIPMENT69

PLANT, PROPERTY AND EQUIPMENT, NET - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 21	$ 19.2	$ 41.7	$ 37.5

GOODWILL AND OTHER INTANGIBLE70

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Changes in the Carrying Amount of Goodwill (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Goodwill [Roll Forward]
Goodwill - Beginning Balance	$ 886.8
Goodwill, Purchase Accounting Adjustments	3.3
Foreign exchange translation	(10.2)
Goodwill - Ending Balance	879.9
Industrial Process [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	324.5
Goodwill, Purchase Accounting Adjustments	0
Foreign exchange translation	(6)
Goodwill - Ending Balance	318.5
Motion Technologies [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	295.6
Goodwill, Purchase Accounting Adjustments	3.3
Foreign exchange translation	(3.5)
Goodwill - Ending Balance	295.4
Connect & Control Technologies [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	266.7
Goodwill, Purchase Accounting Adjustments	0
Foreign exchange translation	(0.7)
Goodwill - Ending Balance	$ 266

GOODWILL AND OTHER INTANGIBLE71

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Other Intangible Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 230.9	$ 234.1
Indefinite-lived intangible assets, Gross/Net Carrying Amount	27.3	27.5
Other Intangible Assets, Gross Carrying Amount	258.2	261.6
Accumulated Amortization	(112.9)	(105.4)
Finite-live intangible asset, net of accumulated amortization	118	128.7
Other intangible assets, net	145.3	156.2
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Customer Relationships, Gross Carrying Amount	164.4	166.2
Accumulated Amortization	(80)	(74.4)
Finite-live intangible asset, net of accumulated amortization	84.4	91.8
Proprietary Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Proprietary Technology, Gross Carrying Amount	53.9	54.4
Accumulated Amortization	(23.7)	(21.8)
Finite-live intangible asset, net of accumulated amortization	30.2	32.6
Patents and other [Member]
Finite-Lived Intangible Assets [Line Items]
Patents and Other, Gross Carrying Amount	12.6	13.5
Accumulated Amortization	(9.2)	(9.2)
Finite-live intangible asset, net of accumulated amortization	$ 3.4	$ 4.3

GOODWILL AND OTHER INTANGIBLE72

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Intangibles Textuals (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Amortization of Intangible Assets	$ 4.3	$ 4.6	$ 8.9	$ 9.2

ACCRUED AND OTHER CURRENT LIA73

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES - (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017
Payables and Accruals [Abstract]
Compensation and other employee-related benefits	$ 129.5	$ 147.2
Contract liabilities and other customer-related liabilities (see Note 2)	81.9	45.5
Asbestos-related liabilities	77.2	77.1	$ 76.6
Accrued income taxes and other tax-related liabilities	34.1	36.1
Environmental liabilities and other legal matters	22.7	22.8
Accrued warranty costs	18	17
Other accrued liabilities	34.3	38.7
Accrued liabilities	397.7	384.4
Environmental liabilities	56.8	63.6
Compensation and other employee-related benefits	34.8	36.4
Deferred income taxes and other tax-related accruals	32.2	19.3
Other	48.9	56.3
Other non-current liabilities	$ 172.7	$ 175.6

DEBT Debt (Details)

DEBT Debt (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Debt [Line Items]
Commercial paper	$ 0	$ 162.4
Short-term loans	209.6	0
Current maturities of long-term debt and capital leases	1.1	1.2
Short-term loans and current maturities of long-term debt	210.7	163.6
Long-term debt and capital leases	7.2	8.3
Total debt and capital leases	$ 217.9	$ 171.9
Commercial Paper [Member]
Debt [Line Items]
Weighted Average Interest Rate		2.09%
Line of Credit [Member]
Debt [Line Items]
Weighted Average Interest Rate	1.10%
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		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost		$ 0.6	$ 0.8	$ 1.2	$ 1.6
Interest cost		3.9	4.2	7.8	8.3
Expected return on plan assets(a)	[1]	(3.5)	(3.8)	(7)	(7.7)
Amortization of prior service cost (benefit)		(1.1)	(1.2)	(2.2)	(2.4)
Amortization of net actuarial loss		2.6	2.8	5.2	5.6
Total net periodic benefit cost		2.5	2.8	5	5.4
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost		0.4	0.6	0.8	1.2
Interest cost		2.8	3	5.6	6
Expected return on plan assets(a)		(3.4)	(3.7)	(6.8)	(7.5)
Amortization of prior service cost (benefit)		0.2	0.3	0.4	0.5
Amortization of net actuarial loss		1.5	1.8	3	3.5
Total net periodic benefit cost		1.5	2	3	3.7
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost		0.2	0.2	0.4	0.4
Interest cost		1.1	1.2	2.2	2.3
Expected return on plan assets(a)		(0.1)	(0.1)	(0.2)	(0.2)
Amortization of prior service cost (benefit)		(1.3)	(1.5)	(2.6)	(2.9)
Amortization of net actuarial loss		1.1	1	2.2	2.1
Total net periodic benefit cost		$ 1	$ 0.8	$ 2	$ 1.7
[1]	(a) Includes plan administrative expenses of $0.9 and $0.8 , and $1.8 and $1.6 for the three and six months ended June 30, 2018 and 2017

POSTRETIREMENT BENEFIT PLANS Po

POSTRETIREMENT BENEFIT PLANS Postretirement Textuals (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plan, Plan Assets, Administration Expense	$ 0.9	$ 0.8	$ 1.8	$ 1.6
Defined Benefit Plan, Plan Assets, Contributions by Employer				6.4
Reclassification of Postretirement Costs from AOCI, Net of Tax	1.1	$ 1.2	2.2	$ 2.3
Minimum [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	7		7
Maximum [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	$ 11		$ 11

LONG-TERM INCENTIVE EMPLOYEE 77

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Employee Compensation Costs (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation expense, equity-based awards	$ 5.7	$ 3.6	$ 10.2	$ 7.3
Share-based compensation expense, liability-based awards	0.7	0.4	0.8	0.9
Total share-based compensation expense in operating income (loss)	$ 6.4	$ 4	$ 11	$ 8.2

LONG-TERM INCENTIVE EMPLOYEE 78

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercised	0.2	0.3
Proceeds from the exercise of stock options	$ 4.7	$ 6.5
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	$ 24.5
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 2 months 12 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	$ 4
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 1 month 6 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vested during period	0.2	0.2
Performance Stock Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vested during period	0.1	0

LONG-TERM INCENTIVE EMPLOYEE 79

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Summary of Long-Term Incentive Plan Awards (Detail) shares in Millions	6 Months Ended
	Jun. 30, 2018$ / 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	$ 52.94
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	$ 57.15

CAPITAL STOCK - Additional Info

CAPITAL STOCK - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	6 Months Ended		140 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased under settlement of employee tax withholding obligations	0.1	0.1
Shares repurchased aggregate value under settlement of employee tax withholding obligations	$ 5.4	$ 2.8
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	1	0.8	22.1
Aggregate cost of repurchase	$ 50	$ 30	$ 909.4

COMMITMENTS AND CONTINGENCIES R

COMMITMENTS AND CONTINGENCIES Rollforward of Asbestos Claims (Detail) - Asbestos Issue [Member] Claim in Thousands	6 Months Ended
	Jun. 30, 2018Claim
Asbestos Claims [Rollforward]
Pending claims – Beginning	26
New claims	2
Settlements	0
Dismissals	(3)
Pending claims – Ending	25

COMMITMENTS AND CONTINGENCIES82

COMMITMENTS AND CONTINGENCIES Roll Forward of Asbestos Liability and Related Assets (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning	$ (508.5)	$ (573.7)
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period	(25.9)	(29.8)
Gain From Asbestos Insurance Settlement Agreement	32.1	0
Cash Payments	30.8	30.7
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending	(471.5)	(572.8)
Asbestos-related liabilities Current	77.2	76.6	$ 77.1
Asbestos-related liabilities Non-Current	781.6	866	800.1
Asbestos-related assets Current	64.7	66	64.7
Asbestos-related assets Non-Current	322.6	303.8	$ 304
Liability [Member]
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning	(877.2)	(954.3)
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period	(32)	(34.8)
Gain From Asbestos Insurance Settlement Agreement	0	0
Cash Payments	50.4	46.5
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending	(858.8)	(942.6)
Assets [Member]
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning	368.7	380.6
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period	6.1	5
Gain From Asbestos Insurance Settlement Agreement	32.1	0
Cash Payments	(19.6)	(15.8)
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending	$ 387.3	$ 369.8

COMMITMENTS AND CONTINGENCIES A

COMMITMENTS AND CONTINGENCIES Asbestos Matters Textuals (Details) Claim in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)Claim	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)Claim	Dec. 31, 2016USD ($)
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	$ 25.9	$ 29.8
Gain From Asbestos Insurance Settlement Agreement	32.1	0
Asbestos Liability And Related Assets Net Current And Noncurrent	$ 471.5	572.8	$ 508.5	$ 573.7
Asbestos Issue [Member]
Asbestos Related Contingencies [Line Items]
Pending Asbestos Claims | Claim	25		26
Liability [Member]
Asbestos Related Contingencies [Line Items]
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period	$ 32	34.8
Gain From Asbestos Insurance Settlement Agreement	0	0
Asbestos Liability And Related Assets Net Current And Noncurrent	858.8	942.6	$ 877.2	954.3
Assets [Member]
Asbestos Related Contingencies [Line Items]
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period	(6.1)	(5)
Gain From Asbestos Insurance Settlement Agreement	32.1	0
Asbestos Liability And Related Assets Net Current And Noncurrent	$ (387.3)	$ (369.8)	$ (368.7)	$ (380.6)

COMMITMENTS AND CONTINGENCIES84

COMMITMENTS AND CONTINGENCIES Rollforward of Environmental Liability and Related Assets (Detail) - Liability [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Loss Contingency Accrual [Roll Forward]
Environmental liability - Beginning balance	$ 73.9	$ 76.6
Accruals added during the period for new matters	2	0
Net Cash Activity	(12.2)	(5.3)
Foreign exchange translation	0.1	0.1
Environmental liability - Ending balance	67.1	73.1
Continuing Operations [Member]
Loss Contingency Accrual [Roll Forward]
Changes In Pre-Existing Environmental Accruals	$ 3.3	$ 1.7

COMMITMENTS AND CONTINGENCIES85

COMMITMENTS AND CONTINGENCIES Range of Environmental Liability and Number of Active Sites (Details) $ in Millions	Jun. 30, 2018USD ($)site	Dec. 31, 2017USD ($)
Site Contingency [Line Items]
Environmental-related assets	$ 23.3	$ 24.5
Environmental Related Matters [Member]
Site Contingency [Line Items]
Number Of Active Environmental Investigation And Remediation Sites | site	33
Maximum [Member] | Environmental Related Matters [Member]
Site Contingency [Line Items]
Loss Contingency, Range of Possible Loss, Maximum	$ 116.5

COMMITMENTS AND CONTINGENCIES O

COMMITMENTS AND CONTINGENCIES Other Matters (Details) $ in Millions	Jun. 30, 2018USD ($)
Unfavorable Regulatory Action [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 5

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jan. 26, 2017
Business Acquisition [Line Items]
Goodwill	$ 879.9	$ 886.8
Axtone Railway Components Acquisition [Member]
Business Acquisition [Line Items]
Cash			$ 9.4
Receivables			11.5
Inventory			13.6
Plant, property and equipment			13.1
Goodwill			86
Other intangible assets			9.9
Other assets			5.5
Accounts payable and accrued liabilities			(15.2)
Postretirement liabilities			(4.2)
Other liabilities			(6.5)
Net assets acquired			$ 123.1

ACQUISITIONS Acquisitions Textu

ACQUISITIONS Acquisitions Textuals (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2016	Dec. 31, 2017	Jan. 26, 2017
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 0	$ 113.7
Goodwill	$ 879.9			$ 886.8
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		$ 123.1
Revenue of Acquired Entity for Last Annual Period			$ 72
Goodwill					$ 86

SUBSEQUENT EVENTS Subsequent 89

SUBSEQUENT EVENTS Subsequent Events (Details) - Subsequent Event [Member] $ in Millions	3 Months Ended
	Sep. 30, 2018USD ($)
Subsequent Event [Line Items]
Subsequent Event, Date	Jul. 27, 2018
Subsequent Event, Description	completed the sale of excess property
Proceeds from Sale of Other Real Estate	$ 41
Gain (Loss) on Disposition of Property Plant Equipment	$ 40