XML 92 R39.htm IDEA: XBRL DOCUMENT
v2.3.0.15

Debt (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2011
Debt [Abstract] |
Debt |
|  | September 30, |  |  | December 31, |
|  | 2011 |  |  | 2010 |
Short-term loans |  | $ | 17 |  |  | $ | 1 |
Current maturities of long-term debt and other |  |  | 1,251 |  |  |  | 10 |
Current deferred gain on interest rate swaps |  |  | 43 |  |  |  | — |
Current unamortized discounts and debt issuance costs |  |  | (6 | ) |  |  | — |
Short-term borrowings and current maturities of long-term debt |  |  | 1,305 |  |  |  | 11 |
Non-current maturities of long-term debt |  |  | 1,855 |  |  |  | 1,257 |
Non-current capital leases |  |  | 16 |  |  |  | 60 |
Deferred gain on interest rate swaps |  |  | — |  |  |  | 45 |
Unamortized discounts and debt issuance costs(a) |  |  | (3 | ) |  |  | (8 | )
Long-term debt |  |  | 1,868 |  |  |  | 1,354 |
Total debt |  | $ | 3,173 |  |  | $ | 1,365 |
(a) |  | Debt issuance costs of $15 associated with the September 2011 issuance for Exelis and Xylem have been presented within Other Assets as of September 30, 2011.
Summary of outstanding debt |
|  |  |  |  | September 30, |  |  | December 31, |
|  |  |  |  | 2011 |  |  | 2010 |
|  | Interest |  |  | Carrying |  |  | Fair |  |  | Carrying |  |  | Fair |
|  | Rate |  |  | Value |  |  | Value |  |  | Value |  |  | Value |
MATURITY DATE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
May 2014 |  |  | 4.90 | % |  | $ | 500 |  |  | $ | 534 |  |  | $ | 500 |  |  | $ | 538 |
September 2016 (Xylem) |  |  | 3.55 | % |  |  | 600 |  |  |  | 611 |  |  |  | — |  |  |  | — |
October 2016 (Exelis) |  |  | 4.25 | % |  |  | 250 |  |  |  | 254 |  |  |  | — |  |  |  | — |
May 2019 |  |  | 6.125 | % |  |  | 500 |  |  |  | 572 |  |  |  | 500 |  |  |  | 553 |
October 2021 (Xylem) |  |  | 4.875 | % |  |  | 600 |  |  |  | 604 |  |  |  | — |  |  |  | — |
October 2021 (Exelis) |  |  | 5.55 | % |  |  | 400 |  |  |  | 406 |  |  |  | — |  |  |  | — |
November 2025 |  |  | 7.40 | % |  |  | 250 |  |  |  | 338 |  |  |  | 250 |  |  |  | 311 |
August 2048 |  |  | (b | ) |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
December 2010 - 2014 |  |  | 4.70 | % |  |  | — |  |  |  | — |  |  |  | 66 |  |  |  | 69 |
Various 2011 - 2022 |  |  | (c | ) |  |  | 38 |  |  |  | 40 |  |  |  | 11 |  |  |  | 11 |
|  |  |  |  |  | $ | 3,139 |  |  | $ | 3,360 |  |  | $ | 1,328 |  |  | $ | 1,483 |
(b) |  | Variable rate debt with an interest rate of 0.07% as of September 30, 2011 and 0.19% as of December 31, 2010.
(c) |  | Includes individually immaterial short-term loans, notes, bonds and capital leases. The weighted average interest rate was 3.73% and 4.86% at September 30, 2011 and December 31, 2010, respectively.

X
- Definition Carrying and fair value of long term outstanding notes and debentures by maturity. + Details
Name: | itt_CarryingAndFairValueOfLongTermOutstandingNotesAndDebenturesByMaturityTableTextBlock
Namespace Prefix: | itt
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration