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EARNINGS PER SHARE (Tables) | 9 Months Ended
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Sep. 30, 2013
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 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.
Number of Shares Underlying Stock Options Excluded from the Computation of Diluted Earnings (Loss) | 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 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + 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 (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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