ITT (ITT) 10-Q 30 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	9 Months Ended
	Sep. 30, 2020	Oct. 28, 2020
Cover [Abstract]
Entity Registrant Name	ITT INC.
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity File Number	001-05672
Entity Central Index Key	0000216228
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	81-1197930
Entity Address, Address Line One	1133 Westchester Avenue
Entity Address, City or Town	White Plains
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10604
City Area Code	(914)
Local Phone Number	641-2000
Title of 12(b) Security	Common Stock, par value $1 per share
Trading Symbol	ITT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		86.4

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 591,200,000	$ 711,900,000	$ 1,769,200,000	$ 2,127,300,000
Costs of revenue	400,600,000	480,600,000	1,205,600,000	1,445,200,000
Gross profit	190,600,000	231,300,000	563,600,000	682,100,000
General and administrative expenses	47,100,000	61,900,000	148,800,000	175,300,000
Sales and marketing expenses	33,400,000	41,600,000	110,700,000	124,500,000
Research and development expenses	19,700,000	23,800,000	61,300,000	73,100,000
Asbestos-related costs (benefit), net	141,400,000	(56,200,000)	116,700,000	(31,800,000)
Restructuring costs	11,500,000	6,700,000	42,500,000	10,900,000
Asset impairment charges	0	1,000,000	16,300,000	1,000,000
Operating (loss) income	(62,500,000)	152,500,000	67,300,000	329,100,000
Interest and non-operating expenses (income), net	1,200,000	(400,000)	4,000,000	(1,300,000)
(Loss) income from continuing operations before income tax expense	(63,700,000)	152,900,000	63,300,000	330,400,000
Income tax (benefit) expense	(16,200,000)	34,100,000	(19,600,000)	73,100,000
(Loss) income from continuing operations	(47,500,000)	118,800,000	82,900,000	257,300,000
Income (loss) from discontinued operations, net of tax	1,200,000	(100,000)	3,900,000	(200,000)
Net (loss) income	(46,300,000)	118,700,000	86,800,000	257,100,000
Less: Income attributable to noncontrolling interests	500,000	100,000	800,000	400,000
Net income attributable to ITT Inc.	(46,800,000)	118,600,000	86,000,000	256,700,000
Amounts attributable to ITT Inc.:
(Loss) income from continuing operations, net of tax	(48,000,000)	118,700,000	82,100,000	256,900,000
Income (loss) from discontinued operations, net of tax	1,200,000	(100,000)	3,900,000	(200,000)
Net income attributable to ITT Inc.	$ (46,800,000)	$ 118,600,000	$ 86,000,000	$ 256,700,000
Basic:
Continuing operations	$ (0.55)	$ 1.35	$ 0.95	$ 2.93
Discontinued operations	0.01	0	0.04	0
Net (loss) income	(0.54)	1.35	0.99	2.93
Diluted:
Continuing operations	(0.55)	1.34	0.94	2.90
Discontinued operations	0.01	0	0.04	0
Net (loss) income	$ (0.54)	$ 1.34	$ 0.98	$ 2.90
Weighted average common shares – basic	86.4	87.8	86.8	87.7
Weighted average common shares – diluted	86.4	88.7	87.4	88.6

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Tax benefit (expense) on income from discontinued operations	$ 500,000	$ 100,000	$ (200,000)	$ 100,000

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (46.3)	$ 118.7	$ 86.8	$ 257.1
Other comprehensive income (loss):
Net foreign currency translation adjustment	23.5	(34.4)	(25.7)	(31.5)
Net change in postretirement benefit plans, net of tax benefits of $0.6, $0.7, $1.2 and $1.1, respectively	1.8	2.3	3.6	3.4
Other comprehensive income (loss)	25.3	(32.1)	(22.1)	(28.1)
Comprehensive (loss) income	(21)	86.6	64.7	229
Less: Comprehensive income attributable to noncontrolling interests	0.5	0.1	0.8	0.4
Comprehensive (loss) income attributable to ITT Inc.	(21.5)	86.5	63.9	228.6
Reclassification adjustments (see Note 15):
Amortization of prior service benefit, net of tax expense of $(0.3), $(0.3), $(0.9) and $(0.8), respectively	(1)	(0.8)	(2.9)	(2.5)
Amortization of net actuarial loss, net of tax benefits of $0.6, $0.5, $1.8 and $1.4, respectively	1.8	1.4	5.5	4.2
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax	1	1.7	1	1.7
Net change in postretirement benefit plans, net of tax benefits of $0.6, $0.7, $1.2 and $1.1, respectively	$ 1.8	$ 2.3	$ 3.6	$ 3.4

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENT OF COMPREHENSIVE INCOME (Parenthetical) (Parentheticals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net change in postretirement benefit plans, Tax Benefits	$ 0.6	$ 0.7	$ 1.2	$ 1.1
Amortization of prior service costs, Tax (Expense) Benefit	(0.3)	(0.3)	(0.9)	(0.8)
Amortization of net actuarial loss, Tax Benefits	0.6	0.5	1.8	1.4
Unrealized change in net actuarial gain, Tax Expense	$ 0.3	$ 0.5	$ 0.3	$ 0.5

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 782.3	$ 612.1
Receivables, net	490.2	578.4
Inventories, net	378.5	392.9
Other current assets	171.8	153.4
Total current assets	1,822.8	1,736.8
Plant, property and equipment, net	505.7	531.5
Goodwill	928.9	927.2
Other intangible assets, net	112.2	138
Asbestos-related assets	318.4	319.6
Deferred income taxes	182.3	138.1
Other non-current assets	306.1	316.5
Total non-current assets	2,353.6	2,370.9
Total assets	4,176.4	4,107.7
Current liabilities:
Commercial paper and current maturities of long-term debt	118.7	86.5
Accounts payable	300.5	332.4
Accrued liabilities	446.8	430.8
Total current liabilities	866	849.7
Asbestos-related liabilities	856.7	731.6
Postretirement benefits	213.9	213.9
Other non-current liabilities	215.3	234.7
Total non-current liabilities	1,285.9	1,180.2
Total liabilities	2,151.9	2,029.9
Shareholders’ equity:
Issued and outstanding – 86.4 shares and 87.8 shares, respectively	86.4	87.8
Retained earnings	2,341.9	2,372.4
Total accumulated other comprehensive loss	(407.4)	(385.3)
Total ITT Inc. shareholders’ equity	2,020.9	2,074.9
Noncontrolling interests	3.6	2.9
Total shareholders’ equity	2,024.5	2,077.8
Total liabilities and shareholders’ equity	$ 4,176.4	$ 4,107.7
Common stock, shares authorized	250	250
Common stock, par value	$ 1	$ 1
Common stock, shares outstanding	86.4	87.8

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, shares authorized	250	250
Common stock, par value	$ 1	$ 1
Common stock, shares issued	86.4	87.8
Common stock, shares outstanding	86.4	87.8

CONSOLIDATED CONDENSED STATEM_5

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating Activities
Income from continuing operations attributable to ITT Inc.	$ 82.1	$ 256.9
Adjustments to income from continuing operations:
Depreciation and amortization	82	81.1
Equity-based compensation	9.7	12.3
Asbestos-related costs (benefit), net	116.7	(31.8)
Asset impairment charges	16.3	1
Other non-cash charges, net	33.5	24.9
Asbestos-related payments, net	(8.9)	(20.1)
Payment for Pension and Other Postretirement Benefits	(7.2)	(19.7)
Changes in assets and liabilities:
Change in receivables	77.8	(41.9)
Change in inventories	13.8	(28.2)
Increase (Decrease) in Contract with Customer, Asset	0.4	(13.4)
Increase (Decrease) in Contract with Customer, Liability	1.7	(9.1)
Change in accounts payable	(34.8)	3.6
Change in accrued expenses	15.2	(7.2)
Change in income taxes	(63.9)	23.3
Other, net	(16.3)	(10)
Net Cash – Operating activities	318.1	221.7
Investing Activities
Capital expenditures	(47.6)	(69.3)
Acquisitions, net of cash acquired	(4.7)	(113.1)
Other, net	1.9	1.6
Net Cash – Investing activities	(50.4)	(180.8)
Financing Activities
Commercial paper, net borrowings	30.7	11.5
Short-term revolving loans, borrowings	495.8	0
Short-term revolving loans, repayments	(524.7)	0
Long-term debt, issued	1.5	7.1
Long-term debt, repayments	(1.3)	(2.1)
Repurchase of common stock	(83.9)	(38.3)
Proceeds from issuance of common stock	1.7	11.6
Dividends paid	(29.7)	(26.1)
Other, net	0	(0.6)
Net Cash – Financing activities	(109.9)	(36.9)
Exchange rate effects on cash and cash equivalents	12.2	(10.6)
Net Cash – Operating activities of discontinued operations	0.2	1.1
Net change in cash and cash equivalents	170.2	(5.5)
Cash and cash equivalents – beginning of year (includes restricted cash of $0.8 and $1.0, respectively)	612.9	562.2
Cash and cash equivalents – end of period (includes restricted cash of $0.8 and $1.0, respectively)	783.1	556.7
Cash paid during the year for:
Interest	2.6	2.2
Income taxes, net of refunds received	$ 40.9	$ 47.9

CONSOLIDATED CONDENSED STATEM_6

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Restricted Cash	$ 0.8	$ 0.8	$ 1	$ 1

CONSOLIDATED CONDENSED STATEM_7

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Retained Earnings [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]
Common Stock Outstanding (Shares)		87.6
Common Stock Outstanding (Dollars)		$ 87.6
Retained earnings			$ 2,110.3
Total accumulated other comprehensive loss	$ (375.5)				$ (375.5)
Noncontrolling interests						$ 2.5
Total shareholders' equity	1,824.9
Net Income	71.4	$ 0	71.3		0	(0.1)
Activity from stock incentive plans, shares		0.6
Activity from stock incentive plans	9.5	$ 0.6	8.9		0	0
Share repuchases, shares		(0.4)
Share repuchases	(19.9)	$ (0.4)	(19.5)		0	0
Dividends declared	(12.9)	0	(12.9)		0	0
Other Comprehensive Income (Loss), Net of Tax	(1.8)	0	0		(1.8)	0
Other	$ 0.1	$ 0	0		0	0.1
Share repuchases, shares	(0.5)
Other Comprehensive Income (Loss), Net of Tax	$ (28.1)
Common Stock Outstanding (Shares)		87.8
Common Stock Outstanding (Dollars)		$ 87.8
Retained earnings			2,158.1
Total accumulated other comprehensive loss	(377.3)				(377.3)
Noncontrolling interests						2.7
Total shareholders' equity	1,871.3
Net Income	67	$ 0	66.8		0	(0.2)
Activity from stock incentive plans, shares		0.1
Activity from stock incentive plans	7.2	$ 0.1	7.1		0	0
Share repuchases, shares		0
Share repuchases	(0.1)	$ 0	(0.1)		0	0
Dividends declared	(13.1)	0	(13.1)		0	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	0.7	0	0		0	0.7
Other Comprehensive Income (Loss), Net of Tax	5.8	$ 0	0		5.8	0
Common Stock Outstanding (Shares)		87.9
Common Stock Outstanding (Dollars)		$ 87.9
Retained earnings			2,218.8
Total accumulated other comprehensive loss	(371.5)				(371.5)
Noncontrolling interests						2.2
Total shareholders' equity	1,937.4
Net Income	118.7	$ 0	118.6		0	(0.1)
Activity from stock incentive plans, shares		0
Activity from stock incentive plans	7.2	$ 0	7.2		0	0
Share repuchases, shares		(0.3)
Share repuchases	(18.3)	$ (0.3)	(18)		0	0
Dividends declared	(13)	0	(13)		0	0
Other Comprehensive Income (Loss), Net of Tax	(32.1)	$ 0	0		(32.1)	0
Common Stock Outstanding (Shares)		87.6
Common Stock Outstanding (Dollars)		$ 87.6
Retained earnings			2,313.6
Total accumulated other comprehensive loss	(403.6)				(403.6)
Noncontrolling interests						2.3
Total shareholders' equity	$ 1,999.9
Common Stock Outstanding (Shares)	87.8	87.8
Common Stock Outstanding (Dollars)	$ 87.8	$ 87.8
Retained earnings	2,372.4		2,372.4
Total accumulated other comprehensive loss	(385.3)				(385.3)
Noncontrolling interests	2.9					2.9
Total shareholders' equity	2,077.8
Net Income	85.1	$ 0	84.8		0	(0.3)
Activity from stock incentive plans, shares		0.4
Activity from stock incentive plans	2.6	$ 0.4	2.2		0	0
Share repuchases, shares		(1.9)
Share repuchases	(83.4)	$ (1.9)	(81.5)		0	0
Dividends declared	(14.9)	0	(14.9)		0	0
Other Comprehensive Income (Loss), Net of Tax	(50.4)	0	0		(50.4)	0
Stockholders' Equity, Other	$ (1.2)	$ 0		$ (1.2)	0	0
Share repuchases, shares	(1.7)
Other Comprehensive Income (Loss), Net of Tax	$ (22.1)
Common Stock Outstanding (Shares)		86.3
Common Stock Outstanding (Dollars)		$ 86.3
Retained earnings			2,361.8
Total accumulated other comprehensive loss	(435.7)				(435.7)
Noncontrolling interests						3.2
Total shareholders' equity	2,015.6
Net Income	48	$ 0	48		0	0
Activity from stock incentive plans, shares		0
Activity from stock incentive plans	3.3	$ 0	3.3		0	0
Share repuchases, shares		0
Share repuchases	(0.3)	$ 0	(0.3)		0	0
Dividends declared	(14.6)	0	(14.6)		0	0
Other Comprehensive Income (Loss), Net of Tax	3	$ 0	0		3	0
Common Stock Outstanding (Shares)		86.3
Common Stock Outstanding (Dollars)		$ 86.3
Retained earnings			2,398.2
Total accumulated other comprehensive loss	(432.7)				(432.7)
Noncontrolling interests						3.2
Total shareholders' equity	2,055
Net Income	(46.3)	$ 0	(46.8)		0	(0.5)
Activity from stock incentive plans, shares		0.1
Activity from stock incentive plans	5.5	$ 0.1	5.4		0	0
Share repuchases, shares		0
Share repuchases	(0.2)	$ 0	(0.2)		0	0
Dividends declared	(14.7)	0	(14.7)		0	0
Other Comprehensive Income (Loss), Net of Tax	25.3	0	0		25.3	0
Stockholders' Equity, Other	$ (0.1)	$ 0	0		0	(0.1)
Common Stock Outstanding (Shares)	86.4	86.4
Common Stock Outstanding (Dollars)	$ 86.4	$ 86.4
Retained earnings	2,341.9		$ 2,341.9
Total accumulated other comprehensive loss	(407.4)				$ (407.4)
Noncontrolling interests	3.6					$ 3.6
Total shareholders' equity	$ 2,024.5

CONSOLIDATED CONDENSED STATEM_8

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Dividends declared per share	$ 0.169	$ 0.169	$ 0.169	$ 0.147	$ 0.147	$ 0.147

OTHER CURRENT AND NON-CURRENT A

OTHER CURRENT AND NON-CURRENT ASSETS - Components of Other Current and Non-Current Assets - USD ($) $ in Millions	Sep. 30, 2020		Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Asbestos-related assets(a)	$ 91	[1]	$ 67.2
Advance payments and other prepaid expenses	31.3		45.4
Current contract assets, net	17.4		18
Prepaid income taxes	30.6		20.6
Other	1.5		2.2
Other current assets	171.8		153.4
Other employee benefit-related assets	137.6		133.6
Operating lease right-of-use assets	87.9		91.7
Capitalized software costs	25.2		30.1
Environmental-related assets	19.6		22.2
Equity method investments	10		9.8
Other	25.8		29.1
Other non-current assets	$ 306.1		$ 316.5
[1]	The increase in asbestos-related assets as of September 30, 2020 primarily relates to a June 2020 settlement agreement with an insurer accelerating payments previously included in a buyout agreement. Refer to Note 19, Commitments and Contingencies , for further information.

OTHER CURRENT AND NON-CURRENT_2

OTHER CURRENT AND NON-CURRENT ASSETS (Textuals) - USD ($) $ in Millions	Oct. 28, 2020	Sep. 30, 2020
Subsequent Event [Line Items]
Operating lease right-of-use assets		$ 87.9
Building [Member]
Subsequent Event [Line Items]
Operating lease right-of-use assets		$ 4.1
Subsequent Event [Member]
Subsequent Event [Line Items]
Operating lease right-of-use assets	$ 10

LONG-TERM INCENTIVE EMPLOYEE CO

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Employee Compensation Costs - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Equity-based awards	$ 3.9	$ 3.9	$ 9.7	$ 12.3
Liability-based awards	0.3	0.3	0.2	1.7
Total share-based compensation expense	$ 4.2	$ 4.2	$ 9.9	$ 14

CAPITAL STOCK - Additional Info

CAPITAL STOCK - Additional Information - USD ($) shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Equity, Class of Treasury Stock [Line Items]
Repurchase of shares of common stock		1.7	0.5
Aggregate cost of repurchase	$ 0.2
Number of shares repurchased under settlement of employee tax withholding obligations			0.2
Shares repurchased aggregate value under settlement of employee tax withholding obligations		$ 10.7	$ 9.6
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		1.4
Aggregate cost of repurchase		$ 61.9	$ 28.7
2019 Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Share repurchase program	$ 500	500
Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Aggregate cost of repurchase		$ 73.2

DESCRIPTION OF BUSINESS, BASIS

DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION AND UPDATES TO SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business ITT Inc. is a diversified manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and oil and gas markets. Unless the context otherwise indicates, references herein to “ITT,” “the Company,” and such words as “we,” “us,” and “our” include ITT Inc. and its subsidiaries. ITT operates through three segments: Motion Technologies, consisting of friction and shock and vibration equipment; Industrial Process, consisting of industrial flow equipment and services; and Connect & Control Technologies, consisting of electronic connectors, fluid handling, motion control, composite materials and noise and energy absorption products. Financial information for our segments is presented in Note 3, Segment Information . In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) a pandemic, resulting in certain local government-mandated site closures. While most of our businesses have been deemed essential, we have experienced certain local government-mandated site closures. The Company continues to face certain risks resulting from COVID-19 including disruption of our operations due to decreased customer demand, temporary plant closures, and elevated hygiene standards to keep our employees safe, along with increased risk of customer or supplier bankruptcy and potential challenges in accessing capital markets. All of these may have a material adverse impact on the Company and there is uncertainty around the duration or severity of these impacts. Therefore, while we expect this matter to negatively impact our business, results of operations, and financial position, the extent of certain future impacts cannot be reasonably estimated at this time. Basis of Presentation The unaudited consolidated condensed financial statements have been prepared pursuant to the rules and regulations of the SEC and, in the opinion of management, reflect all known adjustments (which consist primarily of normal, recurring accruals, estimates and assumptions) necessary to state fairly the financial position, results of operations, and cash flows for the periods presented. The Consolidated Condensed Balance Sheet as of December 31, 2019, presented herein, has been derived from our audited balance sheet included in our Annual Report on Form 10-K ( 2019 Annual Report ) for the year ended December 31, 2019 but does not include all disclosures required by GAAP. We consistently applied the accounting policies described in the 2019 Annual Report in preparing these unaudited financial statements, other than those related to new accounting standards adopted during the period, refer to Note 2 Recent Accounting Pronouncements , for further information. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2019 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 and may be impacted by the duration and severity of the pandemic. 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 and assets, allowance for credit losses and inventory valuation. Actual results could differ from these estimates. In the third quarter of 2020, in connection with our annual asbestos remeasurement, we extended the measurement period over which we estimate our asbestos liability to include unasserted claims through 2052. Refer to Note 19 Commitments and Contingencies , for further information. ITT’s quarterly financial periods end on the Saturday that is closest to the last day of the calendar quarter, except for the last quarterly period of the fiscal year, which ends on December 31st. 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 to conform to the current year presentation.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2020
Recent Accounting Pronouncements [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS The Company considers the applicability and impact of all accounting standard updates (ASUs). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations. Accounting Pronouncements Recently Adopted Measurement of Credit Losses on Financial Instruments (ASU 2016-13) In June 2016, the FASB issued updated guidance that requires entities to use a current expected credit loss model to measure credit-related impairments for financial instruments held at amortized cost, including trade receivables. The current expected credit loss model is based on relevant information about past events, including historical experience, conditions at the date of measurement, and reasonable and supportable forecasts that affect collectability. Current expected credit losses, and subsequent adjustments, represent an estimate of lifetime expected credit losses that are recorded as an allowance deducted from the amortized cost of the financial instrument. The updated guidance was effective for the Company beginning on January 1, 2020 and was adopted using a modified retrospective transition approach, resulting in an increase in our allowance for credit losses related to receivables and contract assets. Refer to Note 8, Receivables, Net for additional information. The cumulative effect of the changes made to our consolidated January 1, 2020 balance sheet related to the adoption of ASU 2016-13 is as follows: December 31, 2019 Cumulative Effect of Adoption January 1, 2020 Receivables, net $ 578.4 $ (1.6) $ 576.8 Other current assets 153.4 (0.1) 153.3 Deferred income taxes 138.1 0.5 138.6 Retained earnings 2,372.4 (1.2) 2,371.2

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company’s segments are reported on the same basis used by our Chief Executive Officer, who is also our chief operating decision maker, for evaluating performance and for allocating resources. Our three reportable segments are referred to as: Motion Technologies, Industrial Process, and Connect & Control Technologies. Motion Technologies manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation markets. Industrial Process manufactures engineered fluid process equipment serving a diversified mix of customers in global industries such as chemical, oil and gas, mining, and other industrial process markets and is a provider of plant optimization and efficiency solutions and aftermarket services and parts. Connect & Control Technologies manufactures harsh-environment connector solutions, critical energy absorption, flow control components, and composite materials for the aerospace and defense, general industrial, medical, and 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, environmental-related assets, deferred taxes, and certain property, plant and equipment. Revenue Operating Income Operating Margin For the Three Months Ended September 30 2020 2019 2020 2019 2020 2019 Motion Technologies $ 271.8 $ 304.5 $ 50.4 $ 56.7 18.5 % 18.6 % Industrial Process 194.1 240.3 17.1 22.0 8.8 % 9.2 % Connect & Control Technologies 125.9 167.9 16.4 28.4 13.0 % 16.9 % Total segment results 591.8 712.7 83.9 107.1 14.2 % 15.0 % Asbestos-related (costs) benefit, net — — (141.4) 56.2 — — Eliminations / Other Corporate costs (0.6) (0.8) (5.0) (10.8) — — Total Eliminations / Corporate and other costs (0.6) (0.8) (146.4) 45.4 — — Total $ 591.2 $ 711.9 $ (62.5) $ 152.5 (10.6) % 21.4 % Revenue Operating Income Operating Margin For the Nine Months Ended September 30 2020 2019 2020 2019 2020 2019 Motion Technologies $ 769.0 $ 937.4 $ 113.9 $ 169.6 14.8 % 18.1 % Industrial Process 614.7 688.6 44.5 70.2 7.2 % 10.2 % Connect & Control Technologies 387.5 503.1 40.7 85.4 10.5 % 17.0 % Total segment results 1,771.2 2,129.1 199.1 325.2 11.3 % 15.3 % Asbestos-related (costs) benefit, net — — (116.7) 31.8 — — Eliminations / Other Corporate costs (2.0) (1.8) (15.1) (27.9) — — Total Eliminations / Corporate and other costs (2.0) (1.8) (131.8) 3.9 — — Total $ 1,769.2 $ 2,127.3 $ 67.3 $ 329.1 3.8 % 15.5 % As of and for the Nine Months Ended September 30 Total Assets Capital Depreciation & 2020 2019 (a) 2020 2019 2020 2019 Motion Technologies $ 1,142.2 $ 1,178.2 $ 32.0 $ 44.8 $ 44.5 $ 42.9 Industrial Process 1,043.1 1,137.8 6.2 8.5 18.0 19.8 Connect & Control Technologies 732.2 755.6 8.4 13.4 17.5 15.9 Corporate 1,258.9 1,036.1 1.0 2.6 2.0 2.5 Total $ 4,176.4 $ 4,107.7 $ 47.6 $ 69.3 $ 82.0 $ 81.1 (a) Amounts reflect balances as of December 31, 2019.

REVENUE REVENUE

REVENUE REVENUE	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUE The following table represents our revenue disaggregated by end market for the three and nine months ended September 30, 2020 and 2019. For the Three Months Ended September 30, 2020 Motion Technologies Industrial Process Connect & Control Technologies Eliminations Total Auto and rail $ 268.6 $ — $ — $ — $ 268.6 Chemical and industrial pumps — 154.3 — — 154.3 Aerospace and defense 1.0 — 67.1 — 68.1 Oil and gas — 39.8 7.4 — 47.2 General industrial 2.2 — 51.4 (0.6) 53.0 Total $ 271.8 $ 194.1 $ 125.9 $ (0.6) $ 591.2 For the Nine Months Ended September 30, 2020 Auto and rail $ 756.6 $ — $ — $ (0.1) $ 756.5 Chemical and industrial pumps — 474.4 — — 474.4 Aerospace and defense 5.5 — 217.8 — 223.3 Oil and gas — 140.3 22.9 — 163.2 General industrial 6.9 — 146.8 (1.9) 151.8 Total $ 769.0 $ 614.7 $ 387.5 $ (2.0) $ 1,769.2 For the Three Months Ended September 30, 2019 Motion Technologies Industrial Process Connect & Control Technologies Eliminations Total Auto and rail $ 301.1 $ — $ — $ — $ 301.1 Chemical and industrial pumps — 185.7 — — 185.7 Aerospace and defense 1.1 — 104.0 — 105.1 Oil and gas — 54.6 11.4 — 66.0 General industrial 2.3 — 52.5 (0.8) 54.0 Total $ 304.5 $ 240.3 $ 167.9 $ (0.8) $ 711.9 For the Nine Months Ended September 30, 2019 Auto and rail $ 923.2 $ — $ — $ (0.1) $ 923.1 Chemical and industrial pumps — 515.9 — — 515.9 Aerospace and defense 6.2 — 308.8 — 315.0 Oil and gas — 172.7 30.0 — 202.7 General industrial 8.0 — 164.3 (1.7) 170.6 Total $ 937.4 $ 688.6 $ 503.1 $ (1.8) $ 2,127.3 Contract Assets and Liabilities Contract assets consist of unbilled amounts where revenue recognized exceeds customer billings, net of allowances for credit losses. 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 September 30, 2020 and December 31, 2019. September 30, December 31, Change Current contract assets, net $ 17.4 $ 18.0 (3.3) % Current contract liabilities (57.4) (57.4) — % Net contract liabilities $ (40.0) $ (39.4) 1.5 %

RESTRUCTURING ACTIONS RESTRUCTU

RESTRUCTURING ACTIONS RESTRUCTURING ACTIONS	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING ACTIONS	RESTRUCTURING ACTIONS We have initiated various restructuring actions throughout our businesses during the past two years, including the 2020 Global Restructuring Plan described below. There were no other restructuring actions considered individually significant. The following table summarizes the total restructuring costs presented separately in our Consolidated Condensed Statements of Operations for the three and nine months ended September 30, 2020 and 2019. Three Months Nine Months For the Periods Ended September 30 2020 2019 2020 2019 Severance and other employee-related $ 10.9 $ 6.5 $ 41.8 $ 10.5 Other 0.6 0.2 0.7 0.4 Total restructuring costs $ 11.5 $ 6.7 $ 42.5 $ 10.9 By segment: Motion Technologies $ — $ 0.7 $ 14.0 $ 4.5 Industrial Process 10.2 5.1 18.1 5.5 Connect & Control Technologies 1.3 0.9 8.0 0.8 Corporate and Other — — 2.4 0.1 The following table displays a rollforward of the restructuring accruals, presented on our Consolidated Condensed Balance Sheet within accrued liabilities, for the nine months ended September 30, 2020 and 2019. 2020 2019 Beginning balance - January 1 $ 7.5 $ 6.7 Restructuring costs 43.3 11.6 Reversal of prior accruals (0.8) (0.7) Cash payments (24.5) (7.8) Foreign exchange translation and other 0.7 (0.4) Ending balance - September 30 $ 26.2 $ 9.4 By accrual type: Severance and other employee-related $ 25.8 $ 9.1 Other 0.4 0.3 2020 Global Restructuring Plan During 2020, the Company initiated an organizational-wide restructuring plan to reduce the overall cost structure of the Company primarily in response to an anticipated reduction in demand from the COVID-19 pandemic. As a result, the Company expects to incur cash restructuring charges of $55.0, principally related to involuntary severance costs, and expects these actions to be substantially complete in 2020. The table below summarizes the total expected restructuring costs and the total restructuring costs incurred to date by segment related to the 2020 Global Restructuring Plan. Expected Costs Incurred Motion Technologies $ 14.0 $ 14.0 Industrial Process 27.7 18.6 Connect & Control Technologies 10.9 8.3 Corporate and Other 2.4 2.4 Total $ 55.0 $ 43.3 The following table displays a rollforward of the restructuring accruals related to the 2020 Global Restructuring Plan: Beginning balance - January 1 $ — Restructuring costs 43.3 Cash payments (19.8) Foreign exchange translation and other 0.4 Ending balance - September 30 $ 23.9

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Three Months Nine Months For the Periods Ended September 30 2020 2019 Change 2020 2019 Change Income tax (benefit) expense $ (16.2) $ 34.1 (147.5) % $ (19.6) $ 73.1 (126.8) % Effective tax rate 25.4 % 22.3 % 310bp (31.0) % 22.1 % ** ** Resulting basis point change not considered meaningful. The income tax benefit and effective tax rate for the three and nine months ended September 30, 2020 primarily reflects the tax effect of the $135.9 asbestos remeasurement charge recognized during the third quarter. Additionally, the effective tax rate during the third quarter of 2020 includes a benefit of $3.2 related to previously unrecognized tax benefits from statute of limitations expirations. The effective tax rate for the nine month period of 2020 also includes tax benefits of $27.2 resulting from a recently completed internal reorganization in Europe. This reorganization resulted in a refined projection of future earnings, which will result in the realization of a portion of our deferred tax assets. The Company’s financial condition and results of operations have been and are expected to continue to be adversely affected by the COVID-19 pandemic and the governmental and market reactions to COVID-19. The impacts on earnings have already had, and will continue to have, an impact on the Company’s overall effective tax rate throughout the year. The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) was enacted March 27, 2020. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary suspension of certain payment requirements for the employer portion of Social Security taxes, technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property, and the creation of certain refundable employee retention credits. During the nine months ended September 30, 2020, the Company recognized a benefit of $8.7 from the CARES Act. The benefit was recorded in operating income and was related to the employer portion of payroll taxes. Certain non-U.S. jurisdictions have enacted similar stimulus measures. We continue to monitor any effects that may result from the CARES Act or other similar legislation globally. 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 the Czech Republic, Germany, Hong Kong, India, Italy, 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 of these uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate of the unrecognized tax benefit. Over the next 12 months, the net amount of the tax liability for unrecognized tax benefits in foreign and domestic jurisdictions could change by approximately $15 due to changes in audit status, expiration of statutes of limitations and other

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2020
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 nine months ended September 30, 2020 and 2019. Three Months Nine Months For the Periods Ended September 30 2020 2019 2020 2019 Basic weighted average common shares outstanding 86.4 87.8 86.8 87.7 Add: Dilutive impact of outstanding equity awards — 0.9 0.6 0.9 Diluted weighted average common shares outstanding 86.4 88.7 87.4 88.6 The three months ended September 30, 2020, excludes 0.5 of outstanding equity awards that, if included, would have an anti-dilutive effect on the diluted earnings per share. There were no anti-dilutive shares in any other periods.

RECEIVABLES, NET

RECEIVABLES, NET	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
RECEIVABLES, NET	RECEIVABLES, NET September 30, December 31, Trade accounts receivable $ 476.9 $ 562.3 Notes receivable 11.8 6.2 Other 19.7 21.2 Receivables, gross 508.4 589.7 Less: Allowance for credit losses - receivables (18.2) (11.3) Receivables, net $ 490.2 $ 578.4 Allowance for Credit Losses We determine our allowance for credit losses using a combination of factors to reduce our trade receivables and contract asset balances to the net amount expected to be collected. The allowance was based on a variety of factors including the length of time receivables were past due, macroeconomic trends and conditions, significant one-time events, historical experience, and expectations of future economic conditions. We also record an allowance for individual accounts when we become aware of specific customer circumstances, such as in the case of bankruptcy filings or deterioration in the customer’s operating results or financial position. The past due or delinquency status of a receivable is based on the contractual payment terms of the receivable. If circumstances related to the specific customer change, we adjust estimates of the recoverability of receivables as appropriate. Our allowance for credit losses for the nine months ended September 30, 2020 includes our estimate of the impact of the COVID-19 pandemic and declines in the oil and gas market and will be adjusted in subsequent periods as circumstances develop and we gain better insight into the future impacts of the pandemic. We believe these events may impact our ability to collect from certain customers depending on the end market we serve and customer profile. The following table displays our allowance for credit losses for receivables and contract assets. September 30, December 31, Allowance for credit losses - receivables $ 18.2 $ 11.3 Allowance for credit losses - contract assets 0.5 1.5 Total allowance for credit losses $ 18.7 $ 12.8 The follow table displays a rollforward of the total allowance for credit losses for the nine months ended September 30, 2020. Total allowance for credit losses - January 1 $ 12.8 Impact of adoption of ASU 2016-13 (See Note 2) 1.7 Charges to income 9.2 Write-offs (5.1) Foreign currency and other 0.1 Total allowance for credit losses - September 30 $ 18.7

INVENTORIES, NET

INVENTORIES, NET	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
INVENTORIES, NET	INVENTORIES, NET September 30, December 31, Finished goods $ 57.6 $ 80.7 Work in process 79.6 83.9 Raw materials 241.3 228.3 Inventories, net $ 378.5 $ 392.9

OTHER CURRENT AND NON-CURRENT_3

OTHER CURRENT AND NON-CURRENT ASSETS	9 Months Ended
	Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER CURRENT AND NON-CURRENT ASSETS	OTHER CURRENT AND NON-CURRENT ASSETS September 30, December 31, Asbestos-related assets (a) $ 91.0 $ 67.2 Advance payments and other prepaid expenses 31.3 45.4 Current contract assets, net 17.4 18.0 Prepaid income taxes 30.6 20.6 Other 1.5 2.2 Other current assets $ 171.8 $ 153.4 Other employee benefit-related assets $ 137.6 $ 133.6 Operating lease right-of-use assets 87.9 91.7 Capitalized software costs 25.2 30.1 Environmental-related assets 19.6 22.2 Equity method investments 10.0 9.8 Other 25.8 29.1 Other non-current assets $ 306.1 $ 316.5 (a) The increase in asbestos-related assets as of September 30, 2020 primarily relates to a June 2020 settlement agreement with an insurer accelerating payments previously included in a buyout agreement. Refer to Note 19, Commitments and Contingencies , for further information. Subsequent Event

PLANT, PROPERTY AND EQUIPMENT,

PLANT, PROPERTY AND EQUIPMENT, NET	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
PLANT, PROPERTY AND EQUIPMENT, NET	PLANT, PROPERTY AND EQUIPMENT, NET Useful life September 30, December 31, Machinery and equipment 2 - 10 $ 1,160.8 $ 1,128.9 Buildings and improvements 5 - 40 275.3 279.3 Furniture, fixtures and office equipment 3 - 7 79.1 79.8 Construction work in progress 43.6 48.8 Land and improvements 32.9 33.3 Other 5.1 10.5 Plant, property and equipment, gross 1,596.8 1,580.6 Less: Accumulated depreciation (1,091.1) (1,049.1) Plant, property and equipment, net $ 505.7 $ 531.5 Depreciation expense of $21.0 and $20.7, and $62.2 and $61.4 was recognized in the three and nine months ended September 30, 2020 and 2019, respectively. During the first quarter of 2020, we recorded an impairment of $4.0 for a business within IP due to challenging economic conditions in the upstream oil and gas market combined with impacts associated with the COVID-19 pandemic. Long-lived assets of the business, with a carrying value of $14.0, primarily building and improvements, machinery and equipment, were reduced to their current estimated fair value of $10.0. Our current estimate of fair value, categorized within Level 3 of the fair value hierarchy, was determined based on a market approach estimating the net proceeds that would be received for the sale of the assets. Significant additional adverse changes to the economic environment and future cash flows of other businesses could cause us to record additional impairment charges in future periods, which may be material.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS, NET	9 Months Ended
	Sep. 30, 2020
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 nine months ended September 30, 2020 by segment. Motion Industrial Connect & Control Total Goodwill - December 31, 2019 $ 293.6 $ 354.1 $ 279.5 $ 927.2 Adjustments to purchase price allocations — (2.5) — (2.5) Foreign exchange translation 0.5 3.2 0.5 4.2 Goodwill - September 30, 2020 $ 294.1 $ 354.8 $ 280.0 $ 928.9 Adjustments to purchase price allocations is related to our 2019 acquisition of Rheinhütte Pumpen Group (Rheinhütte). Refer to Note 20, Acquisitions , for additional information. Other Intangible Assets, Net Information regarding our other intangible assets is as follows: September 30, 2020 December 31, 2019 Gross Accumulated Amortization Net Intangibles Gross Accumulated Amortization Net Intangibles Customer relationships $ 162.3 $ (98.2) $ 64.1 $ 176.3 $ (99.6) $ 76.7 Proprietary technology 46.3 (22.3) 24.0 58.4 (28.1) 30.3 Patents and other 10.5 (8.4) 2.1 21.8 (13.0) 8.8 Finite-lived intangible total 219.1 (128.9) 90.2 256.5 (140.7) 115.8 Indefinite-lived intangibles 22.0 — 22.0 22.2 — 22.2 Other intangible assets $ 241.1 $ (128.9) $ 112.2 $ 278.7 $ (140.7) $ 138.0 As a result of the global COVID-19 pandemic combined with a decline in the upstream oil and gas market, during the first quarter of 2020, we determined that certain intangible assets within the IP segment including an indefinite-lived trademark, customer relationships and proprietary technology, would not be recoverable resulting in an impairment of $12.3. Significant additional adverse changes to the economic environment and future cash flows of other businesses could cause us to record additional impairment charges in future periods, which may be material. In addition, during the first quarter of 2020, we reclassified a trademark intangible asset with a net book value of $5.5, previously included within patents and other, to indefinite-lived intangibles as we suspended our company re-branding project. Amortization expense related to finite-lived intangible assets was $4.4 and $5.3, and $13.4 and $13.3 for the three and nine months ended September 30, 2020 and 2019, respectively. Estimated amortization expense for each of the five succeeding years is as follows: 2020 $ 4.2 2021 16.3 2022 16.2 2023 14.4 2024 9.0 2025 7.9 Thereafter 22.2

ACCRUED AND OTHER CURRENT LIABI

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES	ACCRUED LIABILITIES AND OTHER NON-CURRENT LIABILITIES September 30, December 31, Compensation and other employee-related benefits $ 139.7 $ 145.4 Asbestos-related liability 91.3 86.0 Contract liabilities and other customer-related liabilities 75.8 74.6 Accrued restructuring costs 26.2 7.5 Accrued income taxes and other tax-related liabilities 24.5 27.0 Accrued warranty costs 19.2 18.5 Operating lease liabilities 19.0 19.9 Environmental liabilities and other legal matters 16.9 17.9 Other 34.2 34.0 Accrued liabilities $ 446.8 $ 430.8 Operating lease liabilities $ 73.4 $ 76.0 Environmental liabilities 52.5 55.8 Compensation and other employee-related benefits 29.6 32.4 Deferred income taxes and other tax-related liabilities 15.4 24.0 Other 44.4 46.5 Other non-current liabilities $ 215.3 $ 234.7

DEBT Debt (Notes)

DEBT Debt (Notes)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt [Text Block]	DEBT September 30, December 31, Commercial paper $ 116.3 $ 84.2 Current maturities of long-term debt and finance leases 2.4 2.3 Commercial paper and current maturities of long-term debt 118.7 86.5 Long-term debt and finance leases 13.5 12.9 Total debt and finance leases $ 132.2 $ 99.4 Commercial Paper Commercial paper outstanding as of September 30, 2020 and December 31, 2019 was $116.3 and $84.2, respectively, with a weighted average interest rate of 0.12% and 0.05%, respectively. Commercial paper was issued entirely under our Euro program and had maturity terms less than three months from the date of issuance. Short-term Loans On November 25, 2014, we entered into a competitive advance and revolving credit facility agreement (the Revolving Credit Agreement) with a consortium of third party lenders including JPMorgan Chase Bank, N.A., as administrative agent, and Citibank, N.A., as syndication agent. During 2019, we extended the Revolving Credit Agreement maturity date to November 25, 2022. The Revolving Credit Agreement provides for an aggregate principal amount of up to $500 of (i) revolving extensions of credit (the revolving loans) outstanding at any time, (ii) competitive advance borrowing option which will be provided on an uncommitted competitive advance basis through an auction mechanism (the competitive advances), and (iii) letters of credit for a face amount up to $100 at any time outstanding. Subject to certain conditions, we are permitted to terminate permanently the total commitments and reduce commitments in minimum amounts of $10. Borrowings under the credit facility are available in U.S. dollars, Euros or British pound sterling. We are permitted to request that lenders increase the commitments under the facility by up to $200 for a maximum aggregate principal amount of $700, however this is subject to certain conditions and therefore may not be available to us. The interest rate per annum on the Revolving Credit Agreement is based on the LIBOR rate of the currency we borrow in, adjusted for statutory reserve requirements, plus a margin of 1.1%. As of September 30, 2020 and December 31, 2019, we had no outstanding obligations under the credit facility. There is a 0.15% fee per annum applicable to the commitments under the Revolving Credit Agreement. The fees and margin are subject to adjustment should the Company’s credit ratings change. The Revolving Credit Agreement contains customary affirmative and negative covenants that, among other things, will limit or restrict our ability to: incur additional debt or issue guarantees; create liens; enter into certain sale and lease-back transactions; merge or consolidate with another person; sell, transfer, lease or otherwise dispose of assets; liquidate or dissolve; and enter into restrictive covenants. Additionally, the Revolving Credit Agreement requires us not to permit the ratio of consolidated total indebtedness to consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) (leverage ratio) to exceed 3.00 to 1.00 at any time, or the ratio of consolidated EBITDA to consolidated interest expense (interest coverage ratio) to be less than 3.00 to 1.00. In the event of certain ratings downgrades of the Company to a level below investment grade, the direct and indirect significant U.S. subsidiaries of the Company would be required to guarantee the obligations under the credit facility. On April 29, 2020, we entered into two 364-day term revolving credit agreements totaling $200 (the Incremental Revolving Credit Agreements) which provide the Company with additional liquidity in excess of the Revolving Credit Agreement. Borrowings are available in U.S. dollars and the interest rate per annum is based on the LIBOR rate, adjusted for statutory reserve requirements, plus a margin of up to 1.55%. The Incremental Revolving Credit Agreements are subject to fees of up to 0.35% per annum. The fees and margin are subject to adjustment should the Company’s credit ratings change. All other key provisions of the Incremental Revolving Credit Agreements mirror those of the Revolving Credit Agreement described above, including all covenants. In addition, the Incremental Revolving Credit Agreements did not violate any negative covenants associated with the existing Revolving Credit Agreement. There were no outstanding borrowings under the Incremental Revolving Credit Agreements as of September 30, 2020. As of September 30, 2020, our interest coverage ratio and leverage ratios associated with short-term loans were within the prescribed thresholds.

POSTRETIREMENT BENEFIT PLANS

POSTRETIREMENT BENEFIT PLANS	9 Months Ended
	Sep. 30, 2020
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 nine months ended September 30, 2020 and 2019. 2020 2019 For the Three Months Ended September 30 Pension Other Total Pension Other Total Service cost $ 0.4 $ 0.2 $ 0.6 $ 0.4 $ 0.2 $ 0.6 Interest cost 2.2 0.8 3.0 3.1 1.0 4.1 Expected return on plan assets (2.2) — (2.2) (3.8) (0.1) (3.9) Amortization of prior service (benefit) cost — (1.3) (1.3) 0.2 (1.3) (1.1) Amortization of net actuarial loss 1.8 0.6 2.4 1.3 0.6 1.9 Total net periodic benefit cost $ 2.2 $ 0.3 $ 2.5 $ 1.2 $ 0.4 $ 1.6 2020 2019 For the Nine Months Ended September 30 Pension Other Total Pension Other Total Service cost $ 1.0 $ 0.6 $ 1.6 $ 1.1 $ 0.5 $ 1.6 Interest cost 6.8 2.2 9.0 9.4 3.0 12.4 Expected return on plan assets (6.5) — (6.5) (11.0) (0.1) (11.1) Amortization of prior service (benefit) cost — (3.8) (3.8) 0.6 (3.9) (3.3) Amortization of net actuarial loss 5.3 2.0 7.3 3.9 1.7 5.6 Total net periodic benefit cost $ 6.6 $ 1.0 $ 7.6 $ 4.0 $ 1.2 $ 5.2 We made contributions to our global postretirement plans of $7.2 and $19.7 during the nine months ended September 30, 2020 and 2019, respectively, which included a discretionary contribution of $9 to our U.S. pension plan during 2019. Other than the cash contribution related to the U.S. qualified pension plan termination as described below, we expect to make contributions of approximately $3 to $5 during the remainder of 2020, principally related to our other employee-related benefit plans. Amortization from accumulated other comprehensive income into earnings related to prior service cost and net actuarial loss was $0.8 and $0.6, and $2.6 and $1.7, net of tax, during the three and nine months ended September 30, 2020 and 2019, respectively. No other reclassifications from accumulated other comprehensive income into earnings were recognized during any of the presented periods. U.S. Qualified Pension Plan Termination

LONG-TERM INCENTIVE EMPLOYEE _2

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [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 nine months ended September 30, 2020 and 2019. Three Months Nine Months For the Periods Ended September 30 2020 2019 2020 2019 Equity-based awards $ 3.9 $ 3.9 $ 9.7 $ 12.3 Liability-based awards 0.3 0.3 0.2 1.7 Total share-based compensation expense $ 4.2 $ 4.2 $ 9.9 $ 14.0 The decline in share-based compensation expense for equity-based awards during the nine months ended September 30, 2020 was driven by performance stock units which are evaluated each quarter to determine the likelihood of achieving certain performance targets. The change in share-based compensation expense for liability-based awards is driven by the change in ITT’s stock price. At September 30, 2020, there was $20.5 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 1.9 years. Additionally, unrecognized compensation cost related to liability-based awards was $1.5, which is expected to be recognized ratably over a weighted-average period of 1.9 years. Year-to-Date 2020 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 nine months ended September 30, 2020, we granted the following LTIP awards as provided in the table below: # of Awards Granted Weighted Average Grant Date Fair Value Per Share Restricted stock units (RSUs) 0.2 $ 59.42 Performance stock units (PSUs) 0.1 $ 63.92

CAPITAL STOCK

CAPITAL STOCK	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
CAPITAL STOCK	CAPITAL STOCK On October 27, 2006, our Board of Directors approved a three-year, $1 billion share repurchase program (the 2006 Plan), which it modified in 2008 to make the term indefinite. On October 30, 2019, the Board of Directors approved a new indefinite term $500 share repurchase program (the 2019 Plan). During the first quarter of 2020, we completed the 2006 Plan and commenced repurchases under the 2019 Plan. During the nine months ended September 30, 2020 and 2019, we repurchased and retired 1.7 and 0.5 shares of common stock for $73.2 and $28.7, respectively, under these programs, including 1.4 shares and $61.9 in 2020 under the 2006 plan. Separate from the share repurchase program, the Company repurchased 0.2 shares during the nine months ended September 30, 2020 and 2019, respectively, for an aggregate price of $10.7 and $9.6, respectively, in settlement of employee tax withholding obligations due upon the vesting of RSUs and PSUs.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2020
Statement of Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Loss [Text Block]	ACCUMULATED OTHER COMPREHENSIVE LOSS Postretirement Benefit Plans Cumulative Translation Adjustment Accumulated Other Comprehensive Loss December 31, 2019 $ (133.3) $ (252.0) $ (385.3) Net change during period 0.9 (51.3) (50.4) March 31, 2020 (132.4) (303.3) (435.7) Net change during period 0.9 2.1 3.0 June 30, 2020 $ (131.5) $ (301.2) $ (432.7) Net change during period 1.8 23.5 25.3 September 30, 2020 $ (129.7) $ (277.7) $ (407.4) Postretirement Benefit Plans Cumulative Translation Adjustment Accumulated Other Comprehensive Loss December 31, 2018 $ (131.6) $ (243.9) $ (375.5) Net change during period 0.6 (2.4) (1.8) March 31, 2019 $ (131.0) $ (246.3) $ (377.3) Net change during period 0.5 5.3 5.8 June 30, 2019 $ (130.5) $ (241.0) $ (371.5) Net change during period 2.3 (34.4) (32.1) September 30, 2019 $ (128.2) $ (275.4) $ (403.6)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
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 asbestos and 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 September 30, 2020, 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: Pending claims – Beginning 24 New claims 3 Settlements (1) Dismissals (1) 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. Estimating the Liability and Related Asset In the third quarter of each year, we conduct our annual remeasurement with the assistance of outside consultants in order to review and update the underlying assumptions used in our asbestos liability and related asset estimates. In each remeasurement, the underlying assumptions are updated based on our actual experience since our previous annual remeasurement, and we reassess the appropriate reference period used in determining each assumption and our expectations regarding future conditions. Based on the results of this study, in the third quarter of 2020, we extended our projection to include pending claims and claims expected to be filed through 2052, reflecting the full time period over which we expect asbestos-related claims to be filed against us. Previous estimates included pending claims and claims expected to be filed over the next 10 years. Our ability to reasonably estimate the liability over the full time horizon in the current year resulted from the culmination of various factors, including: • We have observed stability in our data, particularly our experience in the number and percentage of claims compensated by the Company, the amounts paid to settle claims, and related defense costs, subsequent to the implementation of our one-firm defense strategy. • Recent favorable developments in our insurance coverage litigation, including a stipulation filed with the court in the third quarter of 2020 in which a group of insurers acknowledged and agreed on the remaining available and solvent limits of a significant coverage block, and our experience with insurance settlements, including settlements earlier this year, have provided additional certainty with respect to the availability of insurance to reimburse us for certain asbestos-related expenses and the overall net exposure of the Company. Overall, we believe there is greater predictability of outcomes from insurance settlements and stability of underlying inputs used in calculating the gross liability. As a result, we believe the uncertainty in calculating the net liability has been reduced and we now have sufficient reliability to transition to a full time horizon with the annual remeasurement. Consequently, in the third quarter of 2020, we increased our estimated undiscounted asbestos liability, including legal fees, by $155.7. As of September 30, 2020, the liability for pending claims and claims estimated to be filed through 2052 is $948.0. The asbestos liability has not been discounted to present value as the timing of future cash flows may vary. The methodology used to estimate our asbestos liability for pending claims and claims estimated to be filed through 2052 determines a point estimate based on our assessment of the value of each underlying assumption, rather than a range of reasonably possible outcomes, and relies on and includes the following: • interpretation of a widely accepted forecast of the population likely to have been exposed to asbestos in the workplace; • widely accepted epidemiological studies estimating the number of people likely to develop mesothelioma and lung cancer from exposure to asbestos; • the Company’s historical experience with the filing of non-malignant claims against it and the historical relationship between non-malignant and malignant claims filed against the Company; • analysis of the number of likely asbestos personal injury claims to be compensated by the Company based on such epidemiological and historical data and the Company’s recent claims experience in settling and dismissing claims; • analysis of the Company’s pending cases, by disease type; • analysis of the Company’s recent experience to determine the expected settlement value of claims, by disease type; • analysis of the Company’s recent experience in the ratio of settled claims to total resolved claims, by disease type; and • analysis of the Company’s defense costs, including agreements in place with external counsel. In addition, we record a corresponding undiscounted asbestos-related asset that represents our best estimate of probable recoveries from our insurers for the estimated asbestos liabilities. In developing this estimate, the Company considers coverage-in-place and other agreements with its insurers, and a number of additional factors. These additional factors reviewed include the financial viability of our insurance carriers and any related solvency issues, the method by which losses will be allocated to the various insurance policies and the years covered by those policies, the extent to which settlement and defense costs will be reimbursed by the insurance policies and interpretation of the various policy and contract terms and limits and their interrelationships, and various judicial determinations relevant to our insurance programs. The timing and amount of reimbursements will vary due to a time lag between when ITT pays an amount to defend or settle a claim and when a reimbursement is received from an insurer, differing policy terms and certain gaps in our insurance coverage as a result of uninsured periods, insurer insolvencies, and prior insurance settlements. The Company retains an insurance consulting firm to assist management in estimating probable recoveries for pending asbestos claims and for claims estimated to be filed in the future based on the analysis of policy terms, the likelihood of recovery provided by external legal counsel, and incorporating risk mitigation judgments where policy terms or other factors are not certain. The aggregate amount of insurance available to the Company for asbestos-related claims was acquired over many years and from many different carriers. The Company is in litigation with certain of these carriers to enforce its right to coverage for asbestos-related losses under policies they or their predecessors issued. Amounts deemed not recoverable generally are due from insurers that are insolvent. The Company has negotiated with certain of its insurers to reimburse the Company for a portion of its indemnity and defense costs through "coverage-in-place" agreements or policy buyout agreements. The agreements are designed to facilitate the collection of the Company’s insurance portfolio, to mitigate issues that insurers may raise regarding their responsibility to respond to claims, and to promote an orderly exhaustion of the policies. As of September 30, 2020, approximately 59% of our recorded asbestos-related asset was related to coverage-in-place agreements and buyout agreements with insurers. As a result of the annual remeasurement, during the third quarter of 2020, we increased the asbestos-related asset by $19.8, representing additional recoveries due to the increase in the estimated liability for certain claims. After reviewing our portfolio of insurance policies, with consideration given to applicable deductibles, retentions and policy limits, the solvency and historical payment experience of various insurance carriers, existing insurance settlements, and the advice of outside counsel with respect to the applicable insurance coverage law relating to the terms and conditions of its insurance policies, we believe that our recorded receivable for insurance recoveries is probable of collection. 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, including uncertainty related to asbestos claims and estimated costs arising from the long latency period prior to the manifestation of an asbestos-related disease, changes in available medical treatments and changes in medical costs, changes in plaintiff behavior resulting from bankruptcies of other companies that are or could be co-defendants, uncertainties surrounding the litigation process from jurisdiction to jurisdiction and from case to case and the impact of potential legislative or judicial changes. Additionally, future insurance insolvencies or settlement agreements with insurers could impact the overall recoverability of our asbestos-related asset. 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, 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 in estimating our liability and expected recoveries could have a material adverse effect on our financial statements. Settlement Agreements The Company periodically enters into settlement agreements with insurers to settle responsibility for insurance claims. Under the terms of the settlements, the insurers agree to a payment or specified series of payments to a Qualified Settlement Fund for past costs and/or agree to provide coverage for certain future asbestos claims on specified terms and conditions. In March 2020, we finalized a settlement agreement with a group of insurers to settle responsibility for claims under certain insurance policies for a lump sum payment of $66.4, resulting in a benefit of $52.5. During June 2020, we entered into a settlement agreement with an insurer accelerating payments previously included in a buyout agreement, resulting in a loss of $4.2. In September 2020, ITT and a group of insurers filed a stipulation in the coverage litigation in which the parties acknowledged the availability of a significant amount of remaining solvent limits under certain policies, further clarifying for ITT its available insurance. Asbestos-Related Costs (Benefit), Net The following table summarizes the total net asbestos charges for the three and nine months ended September 30, 2020 and 2019. Three Months Nine Months For the Periods Ended September 30 2020 2019 2020 2019 Asbestos provision (a) $ 5.5 $ 11.9 $ 29.1 $ 36.3 Net asbestos remeasurement cost (benefit) (b) 135.9 (68.1) 135.9 (68.1) Insurance settlement agreements — — (48.3) — Asbestos-related costs (benefit), net $ 141.4 $ (56.2) $ 116.7 $ (31.8) The following table provides a rollforward of the estimated asbestos liability and related assets for the nine months ended September 30, 2020 and 2019. 2020 2019 For the Nine Months Ended September 30 Liability Asset Net Liability Asset Net Beginning balance $ 817.6 $ 386.8 $ 430.8 $ 849.3 $ 376.7 $ 472.6 Asbestos provision (a) 35.4 6.3 29.1 45.1 8.8 36.3 Asbestos remeasurement (b) 155.7 19.8 135.9 (4.5) 63.6 (68.1) Insurance settlement agreements — 48.3 (48.3) — — — Net cash activity (a) (60.7) (51.8) (8.9) (62.1) (42.0) (20.1) Ending balance $ 948.0 $ 409.4 $ 538.6 $ 827.8 $ 407.1 $ 420.7 Current portion $ 91.3 $ 91.0 $ 86.2 $ 77.1 Noncurrent portion $ 856.7 $ 318.4 $ 741.6 $ 330.0 (a) Includes certain administrative costs such as legal-related costs for insurance asset recoveries. The asbestos provision includes amounts to maintain a rolling 10-year provision prior to the transition in the third quarter of 2020 to a full horizon. (b) In the third quarter of 2020, we extended our projection to include pending claims and claims expected to be filed through 2052, reflecting the full time period over which we expect asbestos-related claims to be filed against us. 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 nine months ended September 30, 2020 and 2019. For the Nine Months Ended September 30 2020 2019 Environmental liability - beginning balance $ 61.9 $ 66.8 Change in estimates for pre-existing accruals: Continuing operations 1.2 0.2 Discontinued operations (1.6) — Payments (2.9) (4.4) Foreign currency — (0.2) Environmental liability - ending balance $ 58.6 $ 62.4 Environmental-related assets, including a qualified settlement fund (QSF) and estimated recoveries from insurance providers and other third parties, were $19.6 and $22.1 as of September 30, 2020 and 2019, respectively. During the second quarter of 2020, the environmental QSF was amended to cover remediation activities for additional sites. Prior to this amendment, there was $7.2 of deferred income representing the excess of assets in the QSF over the probable liabilities associated with the previously covered sites. As a result of the amendment, we recognized income of $7.2 during the second quarter, including $1.3 related to discontinued operations. We are currently involved with 26 active environmental investigation and remediation sites. As of September 30, 2020, we have estimated the potential high-end liability range of environmental-related matters to be $98.7. 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.

ACQUISITIONS Acquisitions (Note

ACQUISITIONS Acquisitions (Notes)	9 Months Ended
	Sep. 30, 2020
Acquisitions [Abstract]
Business Combination Disclosure [Text Block]	ACQUISITIONS Rheinhütte Pumpen Group (Rheinhütte) On April 30, 2019, we completed the acquisition of 100% of the privately held stock of Rheinhütte for a purchase price of €82.5 euros, net of cash acquired. The transaction was funded from the Company’s cash and European commercial paper program. Rheinhütte, with 2018 revenue of approximately €61.5 euros and approximately 430 employees, has manufacturing locations in Germany and Brazil. Rheinhütte is a designer and manufacturer of highly engineered pumps suited for harsh and corrosive environments for the industrial market. Rheinhütte is reported within the Industrial Process segment. Matrix Composites, Inc. (Matrix) On July 3, 2019, we completed the acquisition of 100% of the privately held stock of Matrix for a purchase price of $25.8, net of cash acquired. The transaction was funded from the Company’s cash. Matrix, a manufacturer of precision composite components within the aerospace and defense market, had 2018 revenue of approximately $12 with growth expected due to a ramp up in production on several next-generation aircraft engine platforms. Matrix has approximately 115 employees and is reported within the Connect & Control Technologies segment. The final purchase prices for Rheinhütte and Matrix were allocated to net assets acquired and liabilities assumed based on their fair values as of the respective acquisition date, with the excess of the purchase price of $37.6 and $14.3 recorded as goodwill, respectively. Other intangibles identified for Rheinhütte include customer relationships, proprietary technology and trade names. Other intangibles assets for Matrix consist of customer relationships. The goodwill arising from these acquisitions is not expected to be deductible for income tax purposes. Allocations of Purchase Price Rheinhütte Matrix Cash $ 4.7 $ 0.5 Receivables 12.1 1.1 Inventory 15.2 1.8 Plant, property and equipment 19.9 2.9 Goodwill 37.6 14.3 Other intangible assets 15.2 8.5 Other assets 3.8 1.9 Accounts payable and accrued liabilities (6.7) (2.0) Other liabilities (5.3) (2.7) Net assets acquired $ 96.5 $ 26.3 Pro forma results of operations have not been presented because the acquisitions were not deemed material as of the acquisition dates.

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2020
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: Motion Technologies, consisting of friction and shock and vibration equipment; Industrial Process, consisting of industrial flow equipment and services; and Connect & Control Technologies, consisting of electronic connectors, fluid handling, motion control, composite materials and noise and energy absorption products. Financial information for our segments is presented in Note 3, Segment Information . In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) a pandemic, resulting in certain local government-mandated site closures. While most of our businesses have been deemed essential, we have experienced certain local government-mandated site closures. The Company continues to face certain risks resulting from COVID-19 including disruption of our operations due to decreased customer demand, temporary plant closures, and elevated hygiene standards to keep our employees safe, along with increased risk of customer or supplier bankruptcy and potential challenges in accessing capital markets. All of these may have a material adverse impact on the Company and there is uncertainty around the duration or severity of these impacts. Therefore, while we expect this matter to negatively impact our business, results of operations, and financial position, the extent of certain future impacts cannot be reasonably estimated at this time.
Basis of Accounting	Basis of Presentation The unaudited consolidated condensed financial statements have been prepared pursuant to the rules and regulations of the SEC and, in the opinion of management, reflect all known adjustments (which consist primarily of normal, recurring accruals, estimates and assumptions) necessary to state fairly the financial position, results of operations, and cash flows for the periods presented. The Consolidated Condensed Balance Sheet as of December 31, 2019, presented herein, has been derived from our audited balance sheet included in our Annual Report on Form 10-K ( 2019 Annual Report ) for the year ended December 31, 2019 but does not include all disclosures required by GAAP. We consistently applied the accounting policies described in the 2019 Annual Report in preparing these unaudited financial statements, other than those related to new accounting standards adopted during the period, refer to Note 2 Recent Accounting Pronouncements , for further information. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2019 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 and may be impacted by the duration and severity of the pandemic. 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 and assets, allowance for credit losses and inventory valuation. Actual results could differ from these estimates. In the third quarter of 2020, in connection with our annual asbestos remeasurement, we extended the measurement period over which we estimate our asbestos liability to include unasserted claims through 2052. Refer to Note 19 Commitments and Contingencies , for further information. ITT’s quarterly financial periods end on the Saturday that is closest to the last day of the calendar quarter, except for the last quarterly period of the fiscal year, which ends on December 31st. 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 to conform to the current year presentation.

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2020
Recent Acconting Pronouncements [Abstract]
Accounting Pronouncements Recently Adopted	Accounting Pronouncements Recently Adopted Measurement of Credit Losses on Financial Instruments (ASU 2016-13) In June 2016, the FASB issued updated guidance that requires entities to use a current expected credit loss model to measure credit-related impairments for financial instruments held at amortized cost, including trade receivables. The current expected credit loss model is based on relevant information about past events, including historical experience, conditions at the date of measurement, and reasonable and supportable forecasts that affect collectability. Current expected credit losses, and subsequent adjustments, represent an estimate of lifetime expected credit losses that are recorded as an allowance deducted from the amortized cost of the financial instrument. The updated guidance was effective for the Company beginning on January 1, 2020 and was adopted using a modified retrospective transition approach, resulting in an increase in our allowance for credit losses related to receivables and contract assets. Refer to Note 8, Receivables, Net for additional information. The cumulative effect of the changes made to our consolidated January 1, 2020 balance sheet related to the adoption of ASU 2016-13 is as follows: December 31, 2019 Cumulative Effect of Adoption January 1, 2020 Receivables, net $ 578.4 $ (1.6) $ 576.8 Other current assets 153.4 (0.1) 153.3 Deferred income taxes 138.1 0.5 138.6 Retained earnings 2,372.4 (1.2) 2,371.2

RECENT ACCOUNTING PRONOUNCEME_3

RECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements (Tables)	9 Months Ended
	Sep. 30, 2020
Modified Retrospective Adoption of New Accounting Pronouncements [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASU 2016-13, Cumulative Effect Adjustments Due to Adoption [Table Text Block]	The cumulative effect of the changes made to our consolidated January 1, 2020 balance sheet related to the adoption of ASU 2016-13 is as follows: December 31, 2019 Cumulative Effect of Adoption January 1, 2020 Receivables, net $ 578.4 $ (1.6) $ 576.8 Other current assets 153.4 (0.1) 153.3 Deferred income taxes 138.1 0.5 138.6 Retained earnings 2,372.4 (1.2) 2,371.2

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Revenue Operating Income Operating Margin For the Three Months Ended September 30 2020 2019 2020 2019 2020 2019 Motion Technologies $ 271.8 $ 304.5 $ 50.4 $ 56.7 18.5 % 18.6 % Industrial Process 194.1 240.3 17.1 22.0 8.8 % 9.2 % Connect & Control Technologies 125.9 167.9 16.4 28.4 13.0 % 16.9 % Total segment results 591.8 712.7 83.9 107.1 14.2 % 15.0 % Asbestos-related (costs) benefit, net — — (141.4) 56.2 — — Eliminations / Other Corporate costs (0.6) (0.8) (5.0) (10.8) — — Total Eliminations / Corporate and other costs (0.6) (0.8) (146.4) 45.4 — — Total $ 591.2 $ 711.9 $ (62.5) $ 152.5 (10.6) % 21.4 % Revenue Operating Income Operating Margin For the Nine Months Ended September 30 2020 2019 2020 2019 2020 2019 Motion Technologies $ 769.0 $ 937.4 $ 113.9 $ 169.6 14.8 % 18.1 % Industrial Process 614.7 688.6 44.5 70.2 7.2 % 10.2 % Connect & Control Technologies 387.5 503.1 40.7 85.4 10.5 % 17.0 % Total segment results 1,771.2 2,129.1 199.1 325.2 11.3 % 15.3 % Asbestos-related (costs) benefit, net — — (116.7) 31.8 — — Eliminations / Other Corporate costs (2.0) (1.8) (15.1) (27.9) — — Total Eliminations / Corporate and other costs (2.0) (1.8) (131.8) 3.9 — — Total $ 1,769.2 $ 2,127.3 $ 67.3 $ 329.1 3.8 % 15.5 %
Schedule of Segment Reporting Information, by Segment [Table Text Block]	As of and for the Nine Months Ended September 30 Total Assets Capital Depreciation & 2020 2019 (a) 2020 2019 2020 2019 Motion Technologies $ 1,142.2 $ 1,178.2 $ 32.0 $ 44.8 $ 44.5 $ 42.9 Industrial Process 1,043.1 1,137.8 6.2 8.5 18.0 19.8 Connect & Control Technologies 732.2 755.6 8.4 13.4 17.5 15.9 Corporate 1,258.9 1,036.1 1.0 2.6 2.0 2.5 Total $ 4,176.4 $ 4,107.7 $ 47.6 $ 69.3 $ 82.0 $ 81.1

REVENUE Revenue (Tables)

REVENUE Revenue (Tables)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table represents our revenue disaggregated by end market for the three and nine months ended September 30, 2020 and 2019. For the Three Months Ended September 30, 2020 Motion Technologies Industrial Process Connect & Control Technologies Eliminations Total Auto and rail $ 268.6 $ — $ — $ — $ 268.6 Chemical and industrial pumps — 154.3 — — 154.3 Aerospace and defense 1.0 — 67.1 — 68.1 Oil and gas — 39.8 7.4 — 47.2 General industrial 2.2 — 51.4 (0.6) 53.0 Total $ 271.8 $ 194.1 $ 125.9 $ (0.6) $ 591.2 For the Nine Months Ended September 30, 2020 Auto and rail $ 756.6 $ — $ — $ (0.1) $ 756.5 Chemical and industrial pumps — 474.4 — — 474.4 Aerospace and defense 5.5 — 217.8 — 223.3 Oil and gas — 140.3 22.9 — 163.2 General industrial 6.9 — 146.8 (1.9) 151.8 Total $ 769.0 $ 614.7 $ 387.5 $ (2.0) $ 1,769.2	For the Three Months Ended September 30, 2019 Motion Technologies Industrial Process Connect & Control Technologies Eliminations Total Auto and rail $ 301.1 $ — $ — $ — $ 301.1 Chemical and industrial pumps — 185.7 — — 185.7 Aerospace and defense 1.1 — 104.0 — 105.1 Oil and gas — 54.6 11.4 — 66.0 General industrial 2.3 — 52.5 (0.8) 54.0 Total $ 304.5 $ 240.3 $ 167.9 $ (0.8) $ 711.9 For the Nine Months Ended September 30, 2019 Auto and rail $ 923.2 $ — $ — $ (0.1) $ 923.1 Chemical and industrial pumps — 515.9 — — 515.9 Aerospace and defense 6.2 — 308.8 — 315.0 Oil and gas — 172.7 30.0 — 202.7 General industrial 8.0 — 164.3 (1.7) 170.6 Total $ 937.4 $ 688.6 $ 503.1 $ (1.8) $ 2,127.3
Contract with Customer, Asset and Liability [Table Text Block]	The following table represents our net contract assets and liabilities as of September 30, 2020 and December 31, 2019. September 30, December 31, Change Current contract assets, net $ 17.4 $ 18.0 (3.3) % Current contract liabilities (57.4) (57.4) — % Net contract liabilities $ (40.0) $ (39.4) 1.5 %

RESTRUCTURING ACTIONS RESTRUC_2

RESTRUCTURING ACTIONS RESTRUCTURING ACTIONS (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	Three Months Nine Months For the Periods Ended September 30 2020 2019 2020 2019 Severance and other employee-related $ 10.9 $ 6.5 $ 41.8 $ 10.5 Other 0.6 0.2 0.7 0.4 Total restructuring costs $ 11.5 $ 6.7 $ 42.5 $ 10.9 By segment: Motion Technologies $ — $ 0.7 $ 14.0 $ 4.5 Industrial Process 10.2 5.1 18.1 5.5 Connect & Control Technologies 1.3 0.9 8.0 0.8 Corporate and Other — — 2.4 0.1
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 nine months ended September 30, 2020 and 2019. 2020 2019 Beginning balance - January 1 $ 7.5 $ 6.7 Restructuring costs 43.3 11.6 Reversal of prior accruals (0.8) (0.7) Cash payments (24.5) (7.8) Foreign exchange translation and other 0.7 (0.4) Ending balance - September 30 $ 26.2 $ 9.4 By accrual type: Severance and other employee-related $ 25.8 $ 9.1 Other 0.4 0.3
2020 Global Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	The table below summarizes the total expected restructuring costs and the total restructuring costs incurred to date by segment related to the 2020 Global Restructuring Plan. Expected Costs Incurred Motion Technologies $ 14.0 $ 14.0 Industrial Process 27.7 18.6 Connect & Control Technologies 10.9 8.3 Corporate and Other 2.4 2.4 Total $ 55.0 $ 43.3
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table displays a rollforward of the restructuring accruals related to the 2020 Global Restructuring Plan: Beginning balance - January 1 $ — Restructuring costs 43.3 Cash payments (19.8) Foreign exchange translation and other 0.4 Ending balance - September 30 $ 23.9

INCOME TAXES Income Tax Expense

INCOME TAXES Income Tax Expense (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Three Months Nine Months For the Periods Ended September 30 2020 2019 Change 2020 2019 Change Income tax (benefit) expense $ (16.2) $ 34.1 (147.5) % $ (19.6) $ 73.1 (126.8) % Effective tax rate 25.4 % 22.3 % 310bp (31.0) % 22.1 % **

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2020
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 nine months ended September 30, 2020 and 2019. Three Months Nine Months For the Periods Ended September 30 2020 2019 2020 2019 Basic weighted average common shares outstanding 86.4 87.8 86.8 87.7 Add: Dilutive impact of outstanding equity awards — 0.9 0.6 0.9 Diluted weighted average common shares outstanding 86.4 88.7 87.4 88.6

RECEIVABLES, NET (Tables)

RECEIVABLES, NET (Tables)	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
RECEIVABLES, NET	September 30, December 31, Trade accounts receivable $ 476.9 $ 562.3 Notes receivable 11.8 6.2 Other 19.7 21.2 Receivables, gross 508.4 589.7 Less: Allowance for credit losses - receivables (18.2) (11.3) Receivables, net $ 490.2 $ 578.4
Allowance for Credit Losses [Table Text Block]	The following table displays our allowance for credit losses for receivables and contract assets. September 30, December 31, Allowance for credit losses - receivables $ 18.2 $ 11.3 Allowance for credit losses - contract assets 0.5 1.5 Total allowance for credit losses $ 18.7 $ 12.8
Allowance for Credit Losses Rollforward [Table Text Block]	The follow table displays a rollforward of the total allowance for credit losses for the nine months ended September 30, 2020. Total allowance for credit losses - January 1 $ 12.8 Impact of adoption of ASU 2016-13 (See Note 2) 1.7 Charges to income 9.2 Write-offs (5.1) Foreign currency and other 0.1 Total allowance for credit losses - September 30 $ 18.7

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories, Net	September 30, December 31, Finished goods $ 57.6 $ 80.7 Work in process 79.6 83.9 Raw materials 241.3 228.3 Inventories, net $ 378.5 $ 392.9

OTHER CURRENT AND NON-CURRENT_4

OTHER CURRENT AND NON-CURRENT ASSETS (Tables)	9 Months Ended
	Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current and Non Current Assets	September 30, December 31, Asbestos-related assets (a) $ 91.0 $ 67.2 Advance payments and other prepaid expenses 31.3 45.4 Current contract assets, net 17.4 18.0 Prepaid income taxes 30.6 20.6 Other 1.5 2.2 Other current assets $ 171.8 $ 153.4 Other employee benefit-related assets $ 137.6 $ 133.6 Operating lease right-of-use assets 87.9 91.7 Capitalized software costs 25.2 30.1 Environmental-related assets 19.6 22.2 Equity method investments 10.0 9.8 Other 25.8 29.1 Other non-current assets $ 306.1 $ 316.5

PLANT, PROPERTY AND EQUIPMENT_2

PLANT, PROPERTY AND EQUIPMENT, NET (Tables)	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Plant, Property and Equipment, Net	Useful life September 30, December 31, Machinery and equipment 2 - 10 $ 1,160.8 $ 1,128.9 Buildings and improvements 5 - 40 275.3 279.3 Furniture, fixtures and office equipment 3 - 7 79.1 79.8 Construction work in progress 43.6 48.8 Land and improvements 32.9 33.3 Other 5.1 10.5 Plant, property and equipment, gross 1,596.8 1,580.6 Less: Accumulated depreciation (1,091.1) (1,049.1) Plant, property and equipment, net $ 505.7 $ 531.5

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)	9 Months Ended
	Sep. 30, 2020
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 nine months ended September 30, 2020 by segment. Motion Industrial Connect & Control Total Goodwill - December 31, 2019 $ 293.6 $ 354.1 $ 279.5 $ 927.2 Adjustments to purchase price allocations — (2.5) — (2.5) Foreign exchange translation 0.5 3.2 0.5 4.2 Goodwill - September 30, 2020 $ 294.1 $ 354.8 $ 280.0 $ 928.9
Other Intangible Assets	Other Intangible Assets, Net Information regarding our other intangible assets is as follows: September 30, 2020 December 31, 2019 Gross Accumulated Amortization Net Intangibles Gross Accumulated Amortization Net Intangibles Customer relationships $ 162.3 $ (98.2) $ 64.1 $ 176.3 $ (99.6) $ 76.7 Proprietary technology 46.3 (22.3) 24.0 58.4 (28.1) 30.3 Patents and other 10.5 (8.4) 2.1 21.8 (13.0) 8.8 Finite-lived intangible total 219.1 (128.9) 90.2 256.5 (140.7) 115.8 Indefinite-lived intangibles 22.0 — 22.0 22.2 — 22.2 Other intangible assets $ 241.1 $ (128.9) $ 112.2 $ 278.7 $ (140.7) $ 138.0
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated amortization expense for each of the five succeeding years is as follows: 2020 $ 4.2 2021 16.3 2022 16.2 2023 14.4 2024 9.0 2025 7.9 Thereafter 22.2

ACCRUED AND OTHER CURRENT LIA_2

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Accrued Liabilities and Other Non-Current Liabilities	September 30, December 31, Compensation and other employee-related benefits $ 139.7 $ 145.4 Asbestos-related liability 91.3 86.0 Contract liabilities and other customer-related liabilities 75.8 74.6 Accrued restructuring costs 26.2 7.5 Accrued income taxes and other tax-related liabilities 24.5 27.0 Accrued warranty costs 19.2 18.5 Operating lease liabilities 19.0 19.9 Environmental liabilities and other legal matters 16.9 17.9 Other 34.2 34.0 Accrued liabilities $ 446.8 $ 430.8 Operating lease liabilities $ 73.4 $ 76.0 Environmental liabilities 52.5 55.8 Compensation and other employee-related benefits 29.6 32.4 Deferred income taxes and other tax-related liabilities 15.4 24.0 Other 44.4 46.5 Other non-current liabilities $ 215.3 $ 234.7

DEBT Debt (Tables)

DEBT Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	September 30, December 31, Commercial paper $ 116.3 $ 84.2 Current maturities of long-term debt and finance leases 2.4 2.3 Commercial paper and current maturities of long-term debt 118.7 86.5 Long-term debt and finance leases 13.5 12.9 Total debt and finance leases $ 132.2 $ 99.4

POSTRETIREMENT BENEFIT PLANS (T

POSTRETIREMENT BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2020
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 nine months ended September 30, 2020 and 2019. 2020 2019 For the Three Months Ended September 30 Pension Other Total Pension Other Total Service cost $ 0.4 $ 0.2 $ 0.6 $ 0.4 $ 0.2 $ 0.6 Interest cost 2.2 0.8 3.0 3.1 1.0 4.1 Expected return on plan assets (2.2) — (2.2) (3.8) (0.1) (3.9) Amortization of prior service (benefit) cost — (1.3) (1.3) 0.2 (1.3) (1.1) Amortization of net actuarial loss 1.8 0.6 2.4 1.3 0.6 1.9 Total net periodic benefit cost $ 2.2 $ 0.3 $ 2.5 $ 1.2 $ 0.4 $ 1.6 2020 2019 For the Nine Months Ended September 30 Pension Other Total Pension Other Total Service cost $ 1.0 $ 0.6 $ 1.6 $ 1.1 $ 0.5 $ 1.6 Interest cost 6.8 2.2 9.0 9.4 3.0 12.4 Expected return on plan assets (6.5) — (6.5) (11.0) (0.1) (11.1) Amortization of prior service (benefit) cost — (3.8) (3.8) 0.6 (3.9) (3.3) Amortization of net actuarial loss 5.3 2.0 7.3 3.9 1.7 5.6 Total net periodic benefit cost $ 6.6 $ 1.0 $ 7.6 $ 4.0 $ 1.2 $ 5.2

LONG-TERM INCENTIVE EMPLOYEE _3

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Long-Term Incentive Employee Compensation Costs	The following table provides the components of LTIP costs for the three and nine months ended September 30, 2020 and 2019. Three Months Nine Months For the Periods Ended September 30 2020 2019 2020 2019 Equity-based awards $ 3.9 $ 3.9 $ 9.7 $ 12.3 Liability-based awards 0.3 0.3 0.2 1.7 Total share-based compensation expense $ 4.2 $ 4.2 $ 9.9 $ 14.0
Summary of Long-Term Incentive Plan Award Grants during year	During the nine months ended September 30, 2020, we granted the following LTIP awards as provided in the table below: # of Awards Granted Weighted Average Grant Date Fair Value Per Share Restricted stock units (RSUs) 0.2 $ 59.42 Performance stock units (PSUs) 0.1 $ 63.92

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2020
Statement of Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Postretirement Benefit Plans Cumulative Translation Adjustment Accumulated Other Comprehensive Loss December 31, 2019 $ (133.3) $ (252.0) $ (385.3) Net change during period 0.9 (51.3) (50.4) March 31, 2020 (132.4) (303.3) (435.7) Net change during period 0.9 2.1 3.0 June 30, 2020 $ (131.5) $ (301.2) $ (432.7) Net change during period 1.8 23.5 25.3 September 30, 2020 $ (129.7) $ (277.7) $ (407.4) Postretirement Benefit Plans Cumulative Translation Adjustment Accumulated Other Comprehensive Loss December 31, 2018 $ (131.6) $ (243.9) $ (375.5) Net change during period 0.6 (2.4) (1.8) March 31, 2019 $ (131.0) $ (246.3) $ (377.3) Net change during period 0.5 5.3 5.8 June 30, 2019 $ (130.5) $ (241.0) $ (371.5) Net change during period 2.3 (34.4) (32.1) September 30, 2019 $ (128.2) $ (275.4) $ (403.6)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Product Liability Contingencies [Table Text Block]	As of September 30, 2020, 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: Pending claims – Beginning 24 New claims 3 Settlements (1) Dismissals (1) Pending claims – Ending 25
Summary of Net Asbestos Charges (Table)	The following table summarizes the total net asbestos charges for the three and nine months ended September 30, 2020 and 2019. Three Months Nine Months For the Periods Ended September 30 2020 2019 2020 2019 Asbestos provision (a) $ 5.5 $ 11.9 $ 29.1 $ 36.3 Net asbestos remeasurement cost (benefit) (b) 135.9 (68.1) 135.9 (68.1) Insurance settlement agreements — — (48.3) — Asbestos-related costs (benefit), net $ 141.4 $ (56.2) $ 116.7 $ (31.8)
Roll Forward of Asbestos Liability and Related Assets	he following table provides a rollforward of the estimated asbestos liability and related assets for the nine months ended September 30, 2020 and 2019. 2020 2019 For the Nine Months Ended September 30 Liability Asset Net Liability Asset Net Beginning balance $ 817.6 $ 386.8 $ 430.8 $ 849.3 $ 376.7 $ 472.6 Asbestos provision (a) 35.4 6.3 29.1 45.1 8.8 36.3 Asbestos remeasurement (b) 155.7 19.8 135.9 (4.5) 63.6 (68.1) Insurance settlement agreements — 48.3 (48.3) — — — Net cash activity (a) (60.7) (51.8) (8.9) (62.1) (42.0) (20.1) Ending balance $ 948.0 $ 409.4 $ 538.6 $ 827.8 $ 407.1 $ 420.7 Current portion $ 91.3 $ 91.0 $ 86.2 $ 77.1 Noncurrent portion $ 856.7 $ 318.4 $ 741.6 $ 330.0 (a) Includes certain administrative costs such as legal-related costs for insurance asset recoveries. The asbestos provision includes amounts to maintain a rolling 10-year provision prior to the transition in the third quarter of 2020 to a full horizon. (b) In the third quarter of 2020, we extended our projection to include pending claims and claims expected to be filed through 2052, reflecting the full time period over which we expect asbestos-related claims to be filed against us.
Rollforward of Environmental Liability and Related Assets	The following table provides a rollforward of the estimated environmental liability for the nine months ended September 30, 2020 and 2019. For the Nine Months Ended September 30 2020 2019 Environmental liability - beginning balance $ 61.9 $ 66.8 Change in estimates for pre-existing accruals: Continuing operations 1.2 0.2 Discontinued operations (1.6) — Payments (2.9) (4.4) Foreign currency — (0.2) Environmental liability - ending balance $ 58.6 $ 62.4

ACQUISITIONS Acquisitions (Tabl

ACQUISITIONS Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2020
Acquisitions [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Allocations of Purchase Price Rheinhütte Matrix Cash $ 4.7 $ 0.5 Receivables 12.1 1.1 Inventory 15.2 1.8 Plant, property and equipment 19.9 2.9 Goodwill 37.6 14.3 Other intangible assets 15.2 8.5 Other assets 3.8 1.9 Accounts payable and accrued liabilities (6.7) (2.0) Other liabilities (5.3) (2.7) Net assets acquired $ 96.5 $ 26.3

RECENT ACCOUNTING PRONOUNCEME_4

RECENT ACCOUNTING PRONOUNCEMENTS Adoption of ASU 2016-13: Opening Balance Sheet Cumulative Effect Adjustments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Receivables, net	$ 490.2		$ 578.4
Other current assets	171.8		153.4
Deferred income taxes	182.3		138.1
Retained earnings	$ 2,341.9		$ 2,372.4
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Receivables, net		$ (1.6)
Other current assets		(0.1)
Deferred income taxes		0.5
Retained earnings		(1.2)
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Receivables, net		576.8
Other current assets		153.3
Deferred income taxes		138.6
Retained earnings		$ 2,371.2

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Segment Reporting Information by Segment Revenue (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)Segment	Sep. 30, 2019USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments | Segment			3
Revenue	$ 591.2	$ 711.9	$ 1,769.2	$ 2,127.3
Operating income	$ (62.5)	$ 152.5	$ 67.3	$ 329.1
Operating Margin	(10.60%)	21.40%	3.80%	15.50%
Total Segment Results [Member]
Segment Reporting Information [Line Items]
Revenue	$ 591.8	$ 712.7	$ 1,771.2	$ 2,129.1
Operating income	$ 83.9	$ 107.1	$ 199.1	$ 325.2
Operating Margin	14.20%	15.00%	11.30%	15.30%
Motion Technologies [Member]
Segment Reporting Information [Line Items]
Revenue	$ 271.8	$ 304.5	$ 769	$ 937.4
Operating income	$ 50.4	$ 56.7	$ 113.9	$ 169.6
Operating Margin	18.50%	18.60%	14.80%	18.10%
Industrial Process [Member]
Segment Reporting Information [Line Items]
Revenue	$ 194.1	$ 240.3	$ 614.7	$ 688.6
Operating income	$ 17.1	$ 22	$ 44.5	$ 70.2
Operating Margin	8.80%	9.20%	7.20%	10.20%
Connect & Control Technologies [Member]
Segment Reporting Information [Line Items]
Revenue	$ 125.9	$ 167.9	$ 387.5	$ 503.1
Operating income	$ 16.4	$ 28.4	$ 40.7	$ 85.4
Operating Margin	13.00%	16.90%	10.50%	17.00%
Total Eliminations / Corporate and Other costs
Segment Reporting Information [Line Items]
Revenue	$ (0.6)	$ (0.8)	$ (2)	$ (1.8)
Operating income	$ (146.4)	$ 45.4	$ (131.8)	$ 3.9
Operating Margin	0.00%	0.00%	0.00%	0.00%
Asbestos-related (costs) benefit, net
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0
Operating income	$ (141.4)	$ 56.2	$ (116.7)	$ 31.8
Operating Margin	0.00%	0.00%	0.00%	0.00%
Eliminations / Other Corporate costs
Segment Reporting Information [Line Items]
Revenue	$ (0.6)	$ (0.8)	$ (2)	$ (1.8)
Operating income	$ (5)	$ (10.8)	$ (15.1)	$ (27.9)
Operating Margin	0.00%	0.00%	0.00%	0.00%

SEGMENT INFORMATION - Schedul_2

SEGMENT INFORMATION - Schedule of Segment Reporting Information by Segment Assets (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total Assets	$ 4,176.4		$ 4,107.7
Capital Expenditures	47.6	$ 69.3
Depreciation & Amortization	82	81.1
Motion Technologies [Member]
Segment Reporting Information [Line Items]
Total Assets	1,142.2		1,178.2	[1]
Capital Expenditures	32	44.8
Depreciation & Amortization	44.5	42.9
Industrial Process [Member]
Segment Reporting Information [Line Items]
Total Assets	1,043.1		1,137.8	[1]
Capital Expenditures	6.2	8.5
Depreciation & Amortization	18	19.8
Connect & Control Technologies [Member]
Segment Reporting Information [Line Items]
Total Assets	732.2		755.6	[1]
Capital Expenditures	8.4	13.4
Depreciation & Amortization	17.5	15.9
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total Assets	1,258.9		$ 1,036.1	[1]
Capital Expenditures	1	2.6
Depreciation & Amortization	$ 2	$ 2.5
[1]	Amounts reflect balances as of December 31, 2019.

REVENUE Revenue (Details)

REVENUE Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 591.2	$ 711.9	$ 1,769.2	$ 2,127.3
Automotive and rail [Member]
Disaggregation of Revenue [Line Items]
Revenue	268.6	301.1	756.5	923.1
Chemical and industrial pumps [Member]
Disaggregation of Revenue [Line Items]
Revenue	154.3	185.7	474.4	515.9
Aerospace and defense [Member]
Disaggregation of Revenue [Line Items]
Revenue	68.1	105.1	223.3	315
Oil and Gas [Member]
Disaggregation of Revenue [Line Items]
Revenue	47.2	66	163.2	202.7
General industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue	53	54	151.8	170.6
Motion Technologies [Member]
Disaggregation of Revenue [Line Items]
Revenue	271.8	304.5	769	937.4
Motion Technologies [Member] | Automotive and rail [Member]
Disaggregation of Revenue [Line Items]
Revenue	268.6	301.1	756.6	923.2
Motion Technologies [Member] | Chemical and industrial pumps [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Motion Technologies [Member] | Aerospace and defense [Member]
Disaggregation of Revenue [Line Items]
Revenue	1	1.1	5.5	6.2
Motion Technologies [Member] | Oil and Gas [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Motion Technologies [Member] | General industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue	2.2	2.3	6.9	8
Industrial Process [Member]
Disaggregation of Revenue [Line Items]
Revenue	194.1	240.3	614.7	688.6
Industrial Process [Member] | Automotive and rail [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Industrial Process [Member] | Chemical and industrial pumps [Member]
Disaggregation of Revenue [Line Items]
Revenue	154.3	185.7	474.4	515.9
Industrial Process [Member] | Aerospace and defense [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Industrial Process [Member] | Oil and Gas [Member]
Disaggregation of Revenue [Line Items]
Revenue	39.8	54.6	140.3	172.7
Industrial Process [Member] | General industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Connect & Control Technologies [Member]
Disaggregation of Revenue [Line Items]
Revenue	125.9	167.9	387.5	503.1
Connect & Control Technologies [Member] | Automotive and rail [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Connect & Control Technologies [Member] | Chemical and industrial pumps [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Connect & Control Technologies [Member] | Aerospace and defense [Member]
Disaggregation of Revenue [Line Items]
Revenue	67.1	104	217.8	308.8
Connect & Control Technologies [Member] | Oil and Gas [Member]
Disaggregation of Revenue [Line Items]
Revenue	7.4	11.4	22.9	30
Connect & Control Technologies [Member] | General industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue	51.4	52.5	146.8	164.3
Consolidation, Eliminations [Member]
Disaggregation of Revenue [Line Items]
Revenue	(0.6)	(0.8)	(2)	(1.8)
Consolidation, Eliminations [Member] | Automotive and rail [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	(0.1)	(0.1)
Consolidation, Eliminations [Member] | Chemical and industrial pumps [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Consolidation, Eliminations [Member] | Aerospace and defense [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Consolidation, Eliminations [Member] | Oil and Gas [Member]
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Consolidation, Eliminations [Member] | General industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ (0.6)	$ (0.8)	$ (1.9)	$ (1.7)

REVENUE Contract Assets and Lia

REVENUE Contract Assets and Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Current contract assets, net	$ 17.4	$ 18
Current Contract Assets, Percentage Change from Prior Period	(3.30%)
Contract with Customer, Liability	$ 57.4	57.4
Current Contract Liabilities, Percentage Change from Prior Period	0.00%
Net Contract Liabilities	$ 40	$ 39.4
Net Contract Liability, Percentage Change from Prior Period	1.50%

REVENUE Revenue Textuals (Detai

REVENUE Revenue Textuals (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)
Contract with Customer, Liability, Revenue Recognized	$ 8.8	$ 47.1
Long-term Contract with Customer [Member]
Revenue, Remaining Performance Obligation, Amount	812.3	812.3
Remaining Current Fiscal Year [Member] | Long-term Contract with Customer [Member] | Minimum [Member]
Revenue, Remaining Performance Obligation, Amount	390	390
Remaining Current Fiscal Year [Member] | Long-term Contract with Customer [Member] | Maximum [Member]
Revenue, Remaining Performance Obligation, Amount	$ 410	$ 410

RESTRUCTURING ACTIONS Restruc_3

RESTRUCTURING ACTIONS Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 11.5	$ 6.7	$ 42.5	$ 10.9
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	10.9	6.5	41.8	10.5
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0.6	0.2	0.7	0.4
Motion Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0	0.7	14	4.5
Industrial Process [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	10.2	5.1	18.1	5.5
Connect & Control Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1.3	0.9	8	0.8
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0	$ 0	$ 2.4	$ 0.1

RESTRUCTURING ACTIONS Restruc_4

RESTRUCTURING ACTIONS Restructuring Accrual Rollforward (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning Balance	$ 7.5	$ 6.7
Restructuring Costs	43.3	11.6
Reversal of prior accruals	(0.8)	(0.7)
Cash payments	(24.5)	(7.8)
Foreign exchange translation and other	0.7	(0.4)
Restructuring Reserve - Ending Balance	26.2	$ 9.4
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning Balance	9.1
Restructuring Reserve - Ending Balance	25.8
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve - Beginning Balance	0.3
Restructuring Reserve - Ending Balance	$ 0.4

RESTRUCTURING ACTIONS 2020 Glob

RESTRUCTURING ACTIONS 2020 Global Restructuring Plan (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 11.5	$ 6.7	$ 42.5	$ 10.9
Restructuring Reserve	26.2	9.4	26.2	9.4	$ 7.5	$ 6.7
Cash payments			(24.5)	(7.8)
Foreign exchange translation and other			0.7	(0.4)
Motion Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0	0.7	14	4.5
Industrial Process [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	10.2	5.1	18.1	5.5
Connect & Control Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1.3	0.9	8	0.8
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0	$ 0	2.4	$ 0.1
2020 Global Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	55		55
Restructuring costs			43.3
Restructuring Reserve	23.9		23.9		$ 0
Cash payments			(19.8)
Foreign exchange translation and other			0.4
2020 Global Restructuring Plan [Member] | Motion Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	14		14
Restructuring costs			14
2020 Global Restructuring Plan [Member] | Industrial Process [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	27.7		27.7
Restructuring costs			18.6
2020 Global Restructuring Plan [Member] | Connect & Control Technologies [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	10.9		10.9
Restructuring costs			8.3
2020 Global Restructuring Plan [Member] | Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 2.4		2.4
Restructuring costs			$ 2.4

INCOME TAXES Income Tax Expen_2

INCOME TAXES Income Tax Expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (16,200,000)	$ 34,100,000	$ (19,600,000)	$ 73,100,000
Income Tax Expense, Increase from Prior Year, Percent Change	(147.50%)		(126.80%)
Change in Effective Income Tax Rate, Basis Points Change	$ 0.0310
Effective income tax rate	25.40%	22.30%	(31.00%)	22.10%

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020		Sep. 30, 2019	[1]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 15		$ 15
Payroll Tax Benefit from CARES Act			8.7
Asbestos Remeasurement Charge	135.9	$ (68.1)	135.9	[1]	$ (68.1)
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities			$ 3.2
Luxembourg Deferred Tax Assets [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 27.2
[1]	In the third quarter of 2020, we extended our projection to include pending claims and claims expected to be filed through 2052, reflecting the full time period over which we expect asbestos-related claims to be filed against us

EARNINGS PER SHARE DATA - Basic

EARNINGS PER SHARE DATA - Basic and Diluted Loss Per Share (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Weighted average common shares – basic	86.4	87.8	86.8	87.7
Add: Dilutive impact of outstanding equity awards	0	0.9	0.6	0.9
Diluted weighted average common shares outstanding	86.4	88.7	87.4	88.6

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	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	500,000	0	0	0

RECEIVABLES, NET - (Detail)

RECEIVABLES, NET - (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade accounts receivable	$ 476.9	$ 562.3
Notes receivable	11.8	6.2
Other	19.7	21.2
Receivables, gross	508.4	589.7
Less: Allowance for credit losses - receivables	(18.2)	(11.3)
Receivables, net	$ 490.2	$ 578.4

RECEIVABLES, NET Allowance for

RECEIVABLES, NET Allowance for Credit Losses (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Credit Loss [Abstract]
Allowance for credit losses - receivables	$ 18.2	$ 11.3
Allowance for credit losses - contract assets	0.5	1.5
Total allowance for credit losses	$ 18.7	$ 12.8

RECEIVABLES, NET Allowance fo_2

RECEIVABLES, NET Allowance for Credit Losses Rollforward (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Credit Loss [Abstract]
Total allowance for credit losses - January 1	$ 12.8
Impact of adoption of ASU 2016-13 (See Note 2)	1.7
Charges to income	9.2
Write-offs	(5.1)
Foreign currency and other	0.1
Total allowance for credit losses - September 30	$ 18.7

INVENTORIES, NET - Components o

INVENTORIES, NET - Components of Inventories, Net (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 57.6	$ 80.7
Work in process	79.6	83.9
Raw materials	241.3	228.3
Inventories, net	$ 378.5	$ 392.9

PLANT, PROPERTY AND EQUIPMENT_3

PLANT, PROPERTY AND EQUIPMENT, NET - Components of Plant, Property and Equipment, Net (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 1,160.8	$ 1,128.9
Buildings and improvements	275.3	279.3
Furniture, fixtures and office equipment	79.1	79.8
Construction work in progress	43.6	48.8
Land and improvements	32.9	33.3
Other	5.1	10.5
Plant, property and equipment, gross	1,596.8	1,580.6
Less: Accumulated depreciation	(1,091.1)	(1,049.1)
Plant, property and equipment, net	$ 505.7	$ 531.5
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	2 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years

PLANT, PROPERTY AND EQUIPMENT_4

PLANT, PROPERTY AND EQUIPMENT, NET - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 21	$ 20.7	$ 62.2	$ 61.4
Tangible Asset Impairment Charges			$ 4
Carrying Value of Tangible Assets Written Down to Estimated Fair Value						$ 14
Fair Value of Impaired Tangible Assets					$ 10

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Changes in the Carrying Amount of Goodwill (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Goodwill - Beginning Balance	$ 927.2
Adjustments to purchase price allocations	(2.5)
Foreign exchange translation	4.2
Goodwill - Ending Balance	928.9
Motion Technologies [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	293.6
Adjustments to purchase price allocations	0
Foreign exchange translation	0.5
Goodwill - Ending Balance	294.1
Industrial Process [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	354.1
Adjustments to purchase price allocations	(2.5)
Foreign exchange translation	3.2
Goodwill - Ending Balance	354.8
Connect & Control Technologies [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	279.5
Adjustments to purchase price allocations	0
Foreign exchange translation	0.5
Goodwill - Ending Balance	$ 280

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Other Intangible Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 219.1	$ 256.5
Indefinite-lived intangible assets, Gross/Net Carrying Amount	22	22.2
Other Intangible Assets, Gross Carrying Amount	241.1	278.7
Accumulated Amortization	(128.9)	(140.7)
Finite-live intangible asset, net of accumulated amortization	90.2	115.8
Other intangible assets, net	112.2	138
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Customer Relationships, Gross Carrying Amount	162.3	176.3
Accumulated Amortization	(98.2)	(99.6)
Finite-live intangible asset, net of accumulated amortization	64.1	76.7
Proprietary Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Proprietary Technology, Gross Carrying Amount	46.3	58.4
Accumulated Amortization	(22.3)	(28.1)
Finite-live intangible asset, net of accumulated amortization	24	30.3
Patents and other [Member]
Finite-Lived Intangible Assets [Line Items]
Patents and Other, Gross Carrying Amount	10.5	21.8
Accumulated Amortization	(8.4)	(13)
Finite-live intangible asset, net of accumulated amortization	$ 2.1	$ 8.8

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Intangibles Textuals (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Impairment of Intangible Assets (Excluding Goodwill)			$ 12.3
Reclassification of Intangible from Finite to Indefinite			5.5
Amortization of Intangible Assets	$ 4.4	$ 5.3	$ 13.4	$ 13.3

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Schedule of Estimated Future Intangible Amortization by Year (Details) $ in Millions	Sep. 30, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 4.2
2021	16.3
2022	16.2
2023	14.4
2024	9
2025	7.9
Thereafter	$ 22.2

ACCRUED AND OTHER CURRENT LIA_3

ACCRUED AND OTHER CURRENT LIABILITIES AND OTHER NON-CURRENT LIABILITIES - (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Payables and Accruals [Abstract]
Compensation and other employee-related benefits	$ 139.7	$ 145.4
Asbestos-related liability	91.3	86	$ 86.2
Contract liabilities and other customer-related liabilities	75.8	74.6
Accrued restructuring costs	26.2	7.5
Accrued income taxes and other tax-related liabilities	24.5	27
Accrued warranty costs	19.2	18.5
Operating lease liabilities	19	19.9
Environmental liabilities and other legal matters	16.9	17.9
Other	34.2	34
Accrued liabilities	446.8	430.8
Operating lease liabilities	73.4	76
Environmental liabilities	52.5	55.8
Compensation and other employee-related benefits	29.6	32.4
Deferred income taxes and other tax-related liabilities	15.4	24
Other	44.4	46.5
Other non-current liabilities	$ 215.3	$ 234.7

DEBT Debt (Details)

DEBT Debt (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Commercial paper	$ 116.3	$ 84.2
Current maturities of long-term debt and finance leases	2.4	2.3
Commercial paper and current maturities of long-term debt	118.7	86.5
Long-term debt and finance leases	13.5	12.9
Total debt and finance leases	$ 132.2	$ 99.4

DEBT Commercial Paper - Textual

DEBT Commercial Paper - Textuals (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Commercial paper	$ 116.3	$ 84.2
Commercial Paper [Member] | Europe [Member]
Short-term Debt [Line Items]
Weighted Average Interest Rate	0.12%	0.05%

DEBT Short-term Loans (Details)

DEBT Short-term Loans (Details) - USD ($) $ in Millions	Apr. 29, 2020	Sep. 30, 2020
Line of Credit Facility [Line Items]
Short-term Debt		$ 0
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Aggregate Borrowing Capacity		500
Line of Credit Facility, Letters of Credit Face Amount Maximum		100
Line of Credit Facility, Commitment Reduction Minimum Amount		10
Line of Credit Facility, Incremental Borrowing Capacity Maximum		200
Line of Credit Facility, Maximum Borrowing Capacity		$ 700
Line of Credit Facility, Interest Margin Above LIBOR		1.10%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.15%
Incremental Revolving Credit Agreement [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 200
Line of Credit Facility, Interest Margin Above LIBOR	1.55%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.35%

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0.6	$ 0.6	$ 1.6	$ 1.6
Interest cost	3	4.1	9	12.4
Expected return on plan assets	(2.2)	(3.9)	(6.5)	(11.1)
Amortization of prior service (benefit) cost	(1.3)	(1.1)	(3.8)	(3.3)
Amortization of net actuarial loss	2.4	1.9	7.3	5.6
Total net periodic benefit cost	2.5	1.6	7.6	5.2
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.4	0.4	1	1.1
Interest cost	2.2	3.1	6.8	9.4
Expected return on plan assets	(2.2)	(3.8)	(6.5)	(11)
Amortization of prior service (benefit) cost	0	0.2	0	0.6
Amortization of net actuarial loss	1.8	1.3	5.3	3.9
Total net periodic benefit cost	2.2	1.2	6.6	4
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.2	0.2	0.6	0.5
Interest cost	0.8	1	2.2	3
Expected return on plan assets	0	(0.1)	0	(0.1)
Amortization of prior service (benefit) cost	(1.3)	(1.3)	(3.8)	(3.9)
Amortization of net actuarial loss	0.6	0.6	2	1.7
Total net periodic benefit cost	$ 0.3	$ 0.4	$ 1	$ 1.2

POSTRETIREMENT BENEFIT PLANS Po

POSTRETIREMENT BENEFIT PLANS Postretirement Textuals (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan, Plan Assets, Contributions by Employer			$ (7.2)	$ (19.7)
Reclassification of Postretirement Costs from AOCI, Net of Tax	$ 0.8	$ 0.6	2.6	$ 1.7
Minimum [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	3		3
Maximum [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	$ 5		$ 5

POSTRETIREMENT BENEFIT PLANS Pe

POSTRETIREMENT BENEFIT PLANS Pension Plan Termination (Details) - USD ($) $ in Millions	Oct. 20, 2020	Sep. 30, 2020	Sep. 30, 2019
Subsequent Event [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer		$ 7.2	$ 19.7
US. Qualified Pension Plan Termination [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 321
Defined Benefit Plan, Plan Assets, Contributions by Employer	8.4
US. Qualified Pension Plan Termination [Member] | Subsequent Event [Member] | Minimum [Member]
Subsequent Event [Line Items]
Estimated Non Cash Pension Settlement Charge	135
US. Qualified Pension Plan Termination [Member] | Subsequent Event [Member] | Maximum [Member]
Subsequent Event [Line Items]
Estimated Non Cash Pension Settlement Charge	$ 140

LONG-TERM INCENTIVE EMPLOYEE _4

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Summary of Long-Term Incentive Plan Awards (Detail) shares in Millions	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards Granted | shares	0.2
Grant Date Fair Value | $ / shares	$ 59.42
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	$ 63.92

LONG-TERM INCENTIVE EMPLOYEE _5

LONG-TERM INCENTIVE EMPLOYEE COMPENSATION - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercised		0.3
Proceeds from the exercise of stock options	$ 1.7	$ 11.6
Equity Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 20.5
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 10 months 24 days
Liability Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 1.5
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	1 year 10 months 24 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	0.2	0.2

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
AOCI - Postretirement Benefits	$ (129.7)	$ (131.5)	$ (132.4)	$ 128.2	$ 130.5	$ 131	$ (129.7)	$ 128.2	$ (133.3)	$ (131.6)
AOCI - Cumulative Translation Adjustment	(277.7)	(301.2)	(303.3)	(275.4)	(241)	(246.3)	(277.7)	(275.4)	(252)	(243.9)
Net change during period - AOCI Postretirement Benefits	1.8	0.9	0.9	2.3	0.5	0.6	3.6	3.4
Net change during period - AOCI Cumulative Translation Adjustment	23.5	2.1	(51.3)	(34.4)	5.3	(2.4)
Total other comprehensive loss, net of tax	25.3	3	(50.4)	(32.1)	5.8	(1.8)	(22.1)	(28.1)
Total accumulated other comprehensive loss	$ (407.4)	$ (432.7)	$ (435.7)	$ (403.6)	$ (371.5)	$ (377.3)	$ (407.4)	$ (403.6)	$ (385.3)	$ (375.5)

COMMITMENTS AND CONTINGENCIES R

COMMITMENTS AND CONTINGENCIES Rollforward of Asbestos Claims (Detail) - Asbestos Issue [Member] Claim in Thousands	9 Months Ended
	Sep. 30, 2020Claim
Asbestos Claims [Rollforward]
Pending claims – Beginning	24
New claims	3
Settlements	(1)
Dismissals	(1)
Pending claims – Ending	25

COMMITMENTS AND CONTINGENCIES S

COMMITMENTS AND CONTINGENCIES Summary of Net Asbestos Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020		Sep. 30, 2019
Asbestos Related Costs (Benefit), Provision to Maintain 10-Year Forecast Period	$ 5.5	$ 11.9	$ 29.1	[1]	$ 36.3	[1]
Asbestos Remeasurement Charge	135.9	(68.1)	135.9	[2]	(68.1)	[2]
Asbestos Related Costs (Benefit), Settlement Agreement	0	0	(48.3)		0
Asbestos-related costs (benefit), net	$ 141.4	$ (56.2)	$ 116.7		$ (31.8)
[1]	Includes certain administrative costs such as legal-related costs for insurance asset recoveries. The asbestos provision includes amounts to maintain a rolling 10-year provision prior to the transition in the third quarter of 2020 to a full horizon.
[2]	In the third quarter of 2020, we extended our projection to include pending claims and claims expected to be filed through 2052, reflecting the full time period over which we expect asbestos-related claims to be filed against us

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES Roll Forward of Asbestos Liability and Related Assets (Detail) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
		Sep. 30, 2020		Sep. 30, 2019	Sep. 30, 2020		Sep. 30, 2019		Dec. 31, 2019
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning					$ (430.8)		$ (472.6)
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period		$ 5.5		$ 11.9	29.1	[1]	36.3	[1]
Gain From Asbestos Insurance Settlement Agreement		0		0	(48.3)		0
Cash Payments	[1]				(8.9)		(20.1)
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending		(538.6)		(420.7)	(538.6)		(420.7)
Asbestos-related liabilities Current		91.3		86.2	91.3		86.2		$ 86
Asbestos-related liabilities Non-Current		856.7		741.6	856.7		741.6		731.6
Asbestos-related assets Current		91	[2]	77.1	91	[2]	77.1		67.2
Asbestos-related assets Non-Current		318.4		330	318.4		330		$ 319.6
Asbestos Remeasurement Charge		(135.9)		68.1	(135.9)	[3]	68.1	[3]
Liability [Member]
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning					(817.6)		(849.3)
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period					35.4		45.1
Gain From Asbestos Insurance Settlement Agreement					0		0
Cash Payments					(60.7)		(62.1)
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending		(948)		(827.8)	(948)		(827.8)
Asbestos Remeasurement Charge					(155.7)		4.5
Assets [Member]
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning					386.8		376.7
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period					(6.3)		(8.8)
Gain From Asbestos Insurance Settlement Agreement					(48.3)		0
Cash Payments					51.8		42
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending		$ 409.4		$ 407.1	409.4		407.1
Asbestos Remeasurement Charge					$ 19.8		$ 63.6
[1]	Includes certain administrative costs such as legal-related costs for insurance asset recoveries. The asbestos provision includes amounts to maintain a rolling 10-year provision prior to the transition in the third quarter of 2020 to a full horizon.
[2]	The increase in asbestos-related assets as of September 30, 2020 primarily relates to a June 2020 settlement agreement with an insurer accelerating payments previously included in a buyout agreement. Refer to Note 19, Commitments and Contingencies , for further information.
[3]	In the third quarter of 2020, we extended our projection to include pending claims and claims expected to be filed through 2052, reflecting the full time period over which we expect asbestos-related claims to be filed against us

COMMITMENTS AND CONTINGENCIES A

COMMITMENTS AND CONTINGENCIES Asbestos Matters Textuals (Details) Claim in Thousands, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020USD ($)Claim	Jun. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)Claim		Sep. 30, 2019USD ($)		Dec. 31, 2019USD ($)Claim	Dec. 31, 2018USD ($)
Asbestos Related Contingencies [Line Items]
Asbestos Related Costs (Benefit), Settlement Agreement	$ 0		$ 0	$ (48.3)		$ 0
Asbestos Liability And Related Assets Net Current And Noncurrent	538.6		420.7	538.6		$ 420.7		$ 430.8	$ 472.6
Asbestos Liability Measurement Periods for Claims Pending and Estimated to be Filed						10 years
Asbestos Remeasurement Charge	$ 135.9		(68.1)	$ 135.9	[1]	$ (68.1)	[1]
Asbestos Insurance Coverage-In-Place and Buyout Agreements Relative to Total Asbestos-Related Asset	59.00%			59.00%
Asbestos Issue [Member]
Asbestos Related Contingencies [Line Items]
Pending Asbestos Claims | Claim	25			25				24
Assets [Member]
Asbestos Related Contingencies [Line Items]
Asbestos Related Costs (Benefit), Settlement Agreement				$ (48.3)		0
Asbestos Liability And Related Assets Net Current And Noncurrent	$ (409.4)		(407.1)	(409.4)		(407.1)		$ (386.8)	(376.7)
Asbestos Remeasurement Charge				(19.8)		(63.6)
Liability [Member]
Asbestos Related Contingencies [Line Items]
Asbestos Related Costs (Benefit), Settlement Agreement				0		0
Asbestos Liability And Related Assets Net Current And Noncurrent	948		$ 827.8	948		827.8		$ 817.6	$ 849.3
Asbestos Remeasurement Charge				155.7		$ (4.5)
Asbestos Related Matters [Member]
Asbestos Related Contingencies [Line Items]
Asbestos Settlement Agreement Cash Proceeds		$ 66.4
Asbestos Related Costs (Benefit), Settlement Agreement	4.2	$ 52.5
Loss Contingency Accrual	$ 948			$ 948
[1]	In the third quarter of 2020, we extended our projection to include pending claims and claims expected to be filed through 2052, reflecting the full time period over which we expect asbestos-related claims to be filed against us

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES Rollforward of Environmental Liability and Related Assets (Detail) - Liability [Member] - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Loss Contingency Accrual [Roll Forward]
Environmental liability - Beginning balance	$ 61.9	$ 66.8
Net Cash Activity	(2.9)	(4.4)
Foreign exchange translation	0	(0.2)
Environmental liability - Ending balance	58.6	62.4
Discontinued Operations [Member]
Loss Contingency Accrual [Roll Forward]
Changes In Pre-Existing Environmental Accruals	(1.6)	0
Continuing Operations [Member]
Loss Contingency Accrual [Roll Forward]
Changes In Pre-Existing Environmental Accruals	$ 1.2	$ 0.2

COMMITMENTS AND CONTINGENCIES E

COMMITMENTS AND CONTINGENCIES Environmental Matters Textuals (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)site	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)
Site Contingency [Line Items]
Environmental-related assets	$ 19.6	$ 22.2	$ 22.1
Qualified Settlement Fund [Member]
Site Contingency [Line Items]
Deferred Income	7.2
Amortization of Deferred Gains	7.2
Qualified Settlement Fund [Member] | Discontinued Operations [Member]
Site Contingency [Line Items]
Amortization of Deferred Gains	$ 1.3
Environmental Related Matters [Member]
Site Contingency [Line Items]
Number Of Active Environmental Investigation And Remediation Sites | site	26
Maximum [Member] | Environmental Related Matters [Member]
Site Contingency [Line Items]
Loss Contingency, Range of Possible Loss, Maximum	$ 98.7

ACQUISITIONS Acquisitions (Deta

ACQUISITIONS Acquisitions (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Jul. 03, 2019	Apr. 30, 2019
Business Acquisition [Line Items]
Goodwill	$ 928.9	$ 927.2
Rheinhutte Pumpen Group [Member]
Business Acquisition [Line Items]
Cash				$ 4.7
Receivables				12.1
Inventory				15.2
Plant, property and equipment				19.9
Goodwill				37.6
Other intangible assets				15.2
Other assets				3.8
Accounts payable and accrued liabilities				(6.7)
Other liabilities				(5.3)
Net assets acquired				$ 96.5
Matrix Composites [Member]
Business Acquisition [Line Items]
Cash			$ 0.5
Receivables			1.1
Inventory			1.8
Plant, property and equipment			2.9
Goodwill			14.3
Other intangible assets			8.5
Other assets			1.9
Accounts payable and accrued liabilities			(2)
Other liabilities			(2.7)
Net assets acquired			$ 26.3

ACQUISITIONS Acquisitions Textu

ACQUISITIONS Acquisitions Textuals (Details) € in Millions, $ in Millions	Jul. 03, 2019USD ($)Employees	Apr. 30, 2019EUR (€)	Jun. 30, 2019EUR (€)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Apr. 30, 2019USD ($)Employees
Business Acquisition [Line Items]
Acquisitions, net of cash acquired				$ 4.7	$ 113.1
Goodwill				$ 928.9		$ 927.2
Rheinhutte Pumpen Group [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition		Apr. 30, 2019
Business Acquisition, Name of Acquired Entity		Rheinhütte Pumpen Group
Acquisitions, net of cash acquired | €		€ 82.5
Revenue of Acquired Entity for Last Annual Period | €			€ 61.5
Number of Employees at Entity to be Acquired | Employees							430
Goodwill							$ 37.6
Matrix Composites [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Jul. 3, 2019
Business Acquisition, Name of Acquired Entity	Matrix Composites, Inc.
Acquisitions, net of cash acquired	$ 25.8
Revenue of Acquired Entity for Last Annual Period	$ 12
Number of Employees at Entity to be Acquired | Employees	115
Goodwill	$ 14.3