XML 86 R15.htm IDEA: XBRL DOCUMENT
v2.4.0.8

EARNINGS PER SHARE | 9 Months Ended
--- | ---
Sep. 30, 2013
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS 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 Corporation for the three and nine month periods ended September 30, 2013 and 2012.
| Three Months |  | Nine Months
For the Periods Ended September 30 | 2013 |  | 2012 |  | 2013 |  | 2012
Net income from continuing operations attributable to ITT Corporation | $ | 433.0 |  |  | $ | 60.7 |  |  | $ | 476.8 |  |  | $ | 87.4 |
Weighted average common shares outstanding | 90.4 |  |  | 92.3 |  |  | 91.0 |  |  | 92.9 |
Add: Weighted average restricted stock awards outstanding(a) | — |  |  | 0.2 |  |  | — |  |  | 0.3 |
Basic weighted average common shares outstanding | 90.4 |  |  | 92.5 |  |  | 91.0 |  |  | 93.2 |
Add: Dilutive impact of stock options and restricted stock units | 1.5 |  |  | 1.0 |  |  | 1.3 |  |  | 1.1 |
Diluted weighted average common shares outstanding | 91.9 |  |  | 93.5 |  |  | 92.3 |  |  | 94.3 |
Basic earnings per share | $ | 4.79 |  |  | $ | 0.65 |  |  | $ | 5.24 |  |  | $ | 0.94 |
Diluted earnings per share | $ | 4.71 |  |  | $ | 0.65 |  |  | $ | 5.17 |  |  | $ | 0.93 |
(a) | Restricted stock awards containing rights to non-forfeitable dividends which participate in undistributed earnings with common shareholders are considered participating securities for purposes of computing earnings per share.
The following table provides the number of shares underlying stock options excluded from the computation of diluted earnings per share for the three and nine month periods ended September 30, 2013 and 2012 because they were anti-dilutive.
| Three Months |  | Nine Months
For the Periods Ended September 30 | 2013 |  | 2012 |  | 2013 |  | 2012
Anti-dilutive stock options | — |  |  | 2.9 |  |  | 0.3 |  |  | 1.9 |
Average exercise price | N/A |  |  | $ | 21.05 |  |  | $ | 26.80 |  |  | $ | 21.45 |
Year(s) of expiration | N/A |  |  | 2014-2022 |  |  | 2023 |  |  | 2014-2022 |
In addition, 0.1 of outstanding employee return on invested capital (ROIC) awards were excluded from the computation of diluted earnings per share for the three and nine months ended September 30, 2013, as the performance period related to the ROIC award metric begins in 2015.

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

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration