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DISCONTINUED OPERATIONS (Tables)
 9 Months Ended
Sep. 30, 2012
Results of Discontinued Operations

The tables below provide the results of discontinued operations through the date of disposal or distribution and certain transformation costs that were incurred by ITT but qualified for classification within discontinued operations.

 

Three Months Ended September 30, 2011    Exelis      Xylem      Other(a)     Total  

Revenue

    $ 1,522.4       $ 939.0       $ —      $ 2,461.4   

Transformation costs

      11.0         45.8         56.2        113.0   

Earnings (loss) before income taxes

      152.5         72.4         (45.7 )      179.2   

Income tax expense (benefit)

      52.7         17.5         (29.0 )      41.2   

Income (loss) from discontinued operations

      99.8         54.9         (16.7 )      138.0   
Nine Months Ended September 30, 2011    Exelis      Xylem      Other(a)     Total  

Revenue

    $ 4,354.5       $ 2,800.2       $ —      $ 7,154.7   

Transformation costs

      23.4         66.7         105.1        195.2   

Earnings (loss) before income taxes

      409.1         294.2         (98.7 )      604.6   

Income tax expense (benefit)

      142.4         74.3         (43.9 )      172.8   

Income (loss) from discontinued operations

      266.7         219.9         (54.8 )      431.8   

 

  (a)

Amounts presented in the “Other” column in the tables above relate to various divested ITT businesses accounted for as discontinued operations in the year of divestiture for which legacy liabilities remain, as well as certain transformation costs which were directly related to the Distribution that provide no future benefit to the Company. See Note 3, “Company Transformation” for further information.