XML 70 R52.htm IDEA: XBRL DOCUMENT
v3.20.4

Restructuring Actions Restructuring Actions (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Restructuring and Related Activities [Abstract] |
Schedule of Restructuring Costs | We have initiated various restructuring actions throughout our businesses during the past three 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 year ended December 31, 2020, 2019, and 2018.
| 2020 |  | 2019 |  | 2018
By component: |  |  |  |  |
Severance costs and other employee-related | $ | 41.5 |  |  | $ | 12.4 |  |  | $ | 4.5 |
Other | 1.5 |  |  | 0.4 |  |  | 0.7 |
Total restructuring costs | $ | 43.0 |  |  | $ | 12.8 |  |  | $ | 5.2 |
By segment: |  |  |  |  |
Motion Technologies | $ | 12.7 |  |  | $ | 4.9 |  |  | $ | 2.3 |
Industrial Process | 19.5 |  |  | 5.7 |  |  | 0.1 |
Connect & Control Technologies | 8.5 |  |  | 2.0 |  |  | 2.1 |
Corporate and Other | 2.3 |  |  | 0.2 |  |  | 0.7 |
Schedule of Restructuring Accruals | The following table displays a rollforward of the restructuring accruals, presented on our Consolidated Balance Sheet within accrued liabilities, for the years ended December 31, 2020 and 2019.
| 2020 |  | 2019
Restructuring accruals - beginning balance | $ | 7.5 |  |  | $ | 6.7 |
Restructuring costs | 44.1 |  |  | 13.4 |
Reversal of prior accruals | (1.1) |  |  | (0.6) |
Cash payments | (33.0) |  |  | (11.7) |
Foreign exchange translation and other | 1.6 |  |  | (0.3) |
Restructuring accrual - ending balance | $ | 19.1 |  |  | $ | 7.5 |
By accrual type: |  |  |
Severance and other employee-related | $ | 18.6 |  |  | $ | 7.2 |
Other | 0.5 |  |  | 0.3 |
Expected Restructuring Costs by Segment Global Restructuring Plan | The table below summarizes the total restructuring costs incurred to through December 31, 2020 and total expected restructuring costs by segment related to the 2020 Global Restructuring Plan.
| Incurred to Date |  | Expected Costs
Motion Technologies | $ | 12.7 |  |  | $ | 12.7 |
Industrial Process | 19.9 |  |  | 22.6 |
Connect & Control Technologies | 8.8 |  |  | 13.4 |
Corporate and Other | 2.4 |  |  | 2.4 |
Total | $ | 43.8 |  |  | $ | 51.1 |
Restructuring Rollforward Global Restructuring Plan | The following table displays a rollforward of the restructuring accruals related to the 2020 Global Restructuring Plan:
Beginning balance - January 1 | $ | — |
Restructuring costs | 43.8 |
Cash payments | (27.9) |
Foreign exchange translation and other | 1.2 |
Ending balance - December 31 | $ | 17.1 |

X
- Definition Expected Restructuring Costs by Segment Global Restructuring Plan + References No definition available. + Details
Name: | itt_ExpectedRestructuringCostsBySegmentGlobalRestructuringPlanTableTextBlock
Namespace Prefix: | itt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Restructuring Rollforward Global Restructuring Plan + References No definition available. + Details
Name: | itt_RestructuringRollforwardGlobalRestructuringPlanTableTextBlock
Namespace Prefix: | itt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
Name: | us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
Name: | us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration