ITT Inc. Files 2023 10-K, Details Financials & Share Buybacks
Ticker: ITT · Form: 10-K · Filed: 2024-02-12T00:00:00.000Z
Sentiment: neutral
Topics: earnings, annual-report, share-repurchase, financial-performance
TL;DR
**ITT's 2023 10-K is out, giving investors the full financial picture and details on ongoing share repurchase programs.**
AI Summary
ITT Inc. filed its 10-K on February 12, 2024, for the fiscal year ending December 31, 2023. The filing details the company's financial performance and position, including its share repurchase programs from 2006 and 2019. This matters to investors as it provides a comprehensive overview of the company's financial health, operational results, and capital allocation strategies, which are crucial for evaluating its intrinsic value and future prospects.
Why It Matters
This filing offers a deep dive into ITT Inc.'s financial performance and strategic capital management, directly impacting how investors perceive its stability and growth potential.
Risk Assessment
Risk Level: medium — The filing provides standard financial disclosures, indicating a moderate level of inherent business and market risks typical for an industrial manufacturing company.
Analyst Insight
Investors should review the detailed financial statements within the 10-K to understand ITT Inc.'s revenue, expenses, and cash flow for the fiscal year ending December 31, 2023, paying close attention to the impact of its share repurchase programs on shareholder value.
Key Numbers
- 2023-12-31 — Fiscal Year End (The end date for the financial period covered by this 10-K filing.)
- 2024-02-12 — Filing Date (The date the 10-K was officially filed with the SEC.)
- 001-05672 — SEC File Number (The unique identifier for ITT INC.'s registration statement with the SEC.)
- 160 — Public Document Count (The number of public documents included in this filing.)
- 3561 — Standard Industrial Classification (SIC) (ITT INC.'s primary industry classification, 'PUMPS & PUMPING EQUIPMENT'.)
Key Players & Entities
- ITT INC. (company) — the filer of the 10-K
- 0000216228 (dollar_amount) — Central Index Key (CIK) for ITT INC.
- 20231231 (date) — the Conformed Period of Report end date
- 20240212 (date) — the Filed As Of Date for the 10-K
- 100 WASHINGTON BLVD (company) — ITT INC.'s business and mail address
FAQ
What is the fiscal year-end for ITT INC. as reported in this 10-K filing?
The fiscal year-end for ITT INC. is December 31, 2023, as indicated by the 'CONFORMED PERIOD OF REPORT: 20231231'.
When was this 10-K filing submitted to the SEC?
This 10-K filing was submitted to the SEC on February 12, 2024, as stated by 'FILED AS OF DATE: 20240212'.
What is ITT INC.'s primary Standard Industrial Classification (SIC) code?
ITT INC.'s primary SIC code is 3561, which corresponds to 'PUMPS & PUMPING EQUIPMENT'.
Where is ITT INC.'s business address located?
ITT INC.'s business address is 100 WASHINGTON BLVD, 6TH FLOOR, STAMFORD, CT, ZIP 06902.
What are the key share repurchase programs mentioned in the filing?
The filing mentions the 'itt:A2019ShareRepurchaseProgramMember' and 'itt:A2006ShareRepurchaseProgramMember' as of December 31, 2023.
From the Filing
0000216228-24-000020.txt : 20240212 0000216228-24-000020.hdr.sgml : 20240212 20240212155442 ACCESSION NUMBER: 0000216228-24-000020 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 160 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240212 DATE AS OF CHANGE: 20240212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ITT INC. CENTRAL INDEX KEY: 0000216228 STANDARD INDUSTRIAL CLASSIFICATION: PUMPS & PUMPING EQUIPMENT [3561] ORGANIZATION NAME: 06 Technology IRS NUMBER: 811197930 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05672 FILM NUMBER: 24619705 BUSINESS ADDRESS: STREET 1: 100 WASHINGTON BLVD STREET 2: 6TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 914.641.2000 MAIL ADDRESS: STREET 1: 100 WASHINGTON BLVD STREET 2: 6TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06902 FORMER COMPANY: FORMER CONFORMED NAME: ITT Inc. DATE OF NAME CHANGE: 20160517 FORMER COMPANY: FORMER CONFORMED NAME: ITT Corp DATE OF NAME CHANGE: 20100308 FORMER COMPANY: FORMER CONFORMED NAME: ITT CORP DATE OF NAME CHANGE: 20060705 10-K 1 itt-20231231.htm 10-K itt-20231231 0000216228 12/31 2023 FY FALSE http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent http://fasb.org/us-gaap/2023#OtherLiabilities http://fasb.org/us-gaap/2023#GeneralAndAdministrativeExpense http://fasb.org/us-gaap/2023#GeneralAndAdministrativeExpense 0000216228 2023-01-01 2023-12-31 0000216228 2023-06-30 iso4217:USD 0000216228 2024-02-09 xbrli:shares 0000216228 itt:A2019ShareRepurchaseProgramMember 2023-12-31 0000216228 itt:A2006ShareRepurchaseProgramMember 2023-12-31 0000216228 2023-12-31 0000216228 country:US 2023-12-31 xbrli:pure 0000216228 2022-01-01 2022-12-31 0000216228 2021-01-01 2021-12-31 iso4217:USD xbrli:shares 0000216228 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-12-31 0000216228 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-01-01 2022-12-31 0000216228 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-12-31 0000216228 2022-12-31 0000216228 2021-12-31 0000216228 2020-12-31 0000216228 us-gaap:CommonStockMember 2020-12-31 0000216228 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0000216228 us-gaap:NoncontrollingInterestMember 2020-12-31 0000216228 us-gaap:CommonStockMember 2021-01-01 2021-12-31 0000216228 us-gaap:RetainedEarningsMember 2021-01-01 2021-12-31 0000216228 us-gaap:NoncontrollingInterestMember 2021-01-01 2021-12-31 0000216228 us-gaap:CommonStockMember 2021-12-31 0000216228 us-gaap:RetainedEarningsMember 2021-12-31 0000216228 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0000216228 us-gaap:NoncontrollingInterestMember 2021-12-31 0000216228 us-gaap:CommonStockMember 2022-01-01 2022-12-31 0000216228 us-gaap:RetainedEarningsMember 2022-01-01 2022-12-31 0000216228 us-gaap:NoncontrollingInterestMember 2022-01-01 2022-12-31 0000216228 us-gaap:CommonStockMember 2022-12-31 0000216228 us-gaap:RetainedEarningsMember 2022-12-31 0000216228 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0000216228 us-gaap:NoncontrollingInterestMember 2022-12-31 0000216228 us-gaap:CommonStockMember 2023-01-01 2023-12-31 0000216228 us-gaap:RetainedEarningsMember 2023-01-01 2023-12-31 0000216228 us-gaap:NoncontrollingInterestMember 2023-01-01 2023-12-31 0000216228 us-gaap:CommonStockMember 2023-12-31 0000216228 us-gaap:RetainedEarningsMember 2023-12-31 0000216228 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0000216228 us-gaap:NoncontrollingInterestMember 2023-12-31 0000216228 itt:MicroModeMember 2023-01-01 2023-12-31 0000216228 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember us-gaap:CreditConcentrationRiskMember 2023-01-01 2023-12-31 utr:Rate 0000216228 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember us-gaap:CreditConcentrationRiskMember 2022-01-01 2022-12-31 0000216228 srt:MinimumMember us-gaap:ComputerSoftwareIntangibleAssetMember 2023-12