XML 50 R39.htm IDEA: XBRL DOCUMENT
v3.23.2

RECEIVABLES, NET (Tables) | 6 Months Ended
--- | ---
Jul. 01, 2023
Receivables [Abstract] |
Receivables, Net by Type Table | The following table summarizes our receivables and associated allowance for credit losses.
As of the Period Ended | July 1, 2023 |  | December 31, 2022
Trade accounts receivable | $ | 671.9 |  |  | $ | 614.0 |
Notes receivable | 20.1 |  |  | 8.2 |
Other | 12.9 |  |  | 18.3 |
Receivables, gross | 704.9 |  |  | 640.5 |
Less: Allowance for credit losses - receivables | (15.6) |  |  | (11.7) |
Receivables, net | $ | 689.3 |  |  | $ | 628.8 |
Allowance for Credit Losses Table | The following table displays our allowance for credit losses for receivables and for contract assets, which are recorded within Receivables, net and Other current or non-current assets, respectively, within our Consolidated Condensed Balance Sheets.
As of the Period Ended | July 1, 2023 |  | December 31, 2022
Allowance for credit losses - receivables | $ | 15.6 |  |  | $ | 11.7 |
Allowance for credit losses - contract assets | 0.5 |  |  | 0.5 |
Total allowance for credit losses | $ | 16.1 |  |  | $ | 12.2 |
Allowance for Credit Losses Rollforward Table | The following table displays a rollforward of our total allowance for credit losses.
| July 1, 2023 |  | July 2, 2022
Total allowance for credit losses - January 1 | $ | 12.2 |  |  | $ | 12.5 |
Charges to income(a) | 3.6 |  |  | 4.7 |
Write-offs | (0.4) |  |  | (0.4) |
Foreign currency and other | 0.7 |  |  | 0.1 |
Total allowance for credit losses - ending balance | $ | 16.1 |  |  | $ | 16.9 |
(a) We recognized bad debt expense of $1.2 and $1.9 relating to impacts stemming from the Russia-Ukraine war during the six months ended July 1, 2023 and July 2, 2022, respectively. See Note 1, Description of Business and Basis of Presentation, for further information.

X
- Definition Allowance for Credit Losses Rollforward [Table Text Block] + References No definition available. + Details
Name: | itt_AllowanceforCreditLossesRollforwardTableTextBlock
Namespace Prefix: | itt_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13 + Details
Name: | us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration