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ITT ITT Asbestos-related benefit (costs), net(a) — Operating Income

Discontinued — last reported Q4 '22

Similar metrics at other companies

DuPont de Nemours, Inc. logo
DDIndustrial Intermediates And Infrastructure — Gain Loss On Asbestos Related Matter
$0—
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DDCorporate — Gain Loss On Asbestos Related Matter
-$278.25M—
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HIGAsbestos — Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented
$749M-17.7%
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HIGAsbestosand Environmental — Liability For Unpaid Claims And Claims Adjustment Expense Net
$1.15B-8.5%
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DDSafety And Construction — Gain Loss On Asbestos Related Matter
$0—
IR
IRGain (Loss) On Of Asbestos-Related Assets And Liabilities
$0+100%

Other financials

Income statement

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Revenue$1.2B+32.7%
Gross profit$428.8M+32.7%
Operating income$141.2M-6.4%
Net income$78.0M-28.0%
EPS (diluted)$0.89-33.1%

Balance sheet

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Cash & equivalents$600.8M+36.6%
Total debt$3.5B+321%
Total equity$4.7B+70.5%
Total assets$11.1B+130%

Cash flow

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Operating cash flow$39.9M-64.8%
CapEx$26.1M-29.1%
Free cash flow$13.8M-82.0%

Valuation

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Market cap$17.6B+55.9%
Enterprise value$20.49B+76.8%
P/E38.5×+16.6×
P/S4.2×+1.0×

Profitability

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Gross margin35.5%+0.5pp
Operating margin15.9%-2.8pp
Net margin10.8%-3.4pp
FCF margin11.4%-1.9pp

Returns & leverage

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Return on equity12.2%-7.1pp
Debt / equity0.7×+0.4×
Current ratio1.5×+0.3×

Where this comes from

Reported directly by ITT in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The official record: ITT’s 10-K, filed February 15, 2023, on SEC EDGAR. View the filing →

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Questions, answered.

What is ITT's asbestos-related benefit (costs), net(a) — operating income?
ITT (ITT) reported asbestos-related benefit (costs), net(a) — operating income of $0 in Q4 2022.
What does asbestos-related benefit (costs), net(a) — operating income mean?
The net financial gain or loss resulting from historical asbestos-related legal claims and insurance settlements.
How do you interpret asbestos-related benefit (costs), net(a) — operating income?
An increase in costs signals higher legal liabilities or lower insurance recoveries, negatively impacting operating margins. A benefit indicates favorable legal outcomes or insurance settlements that improve operating income.
How does asbestos-related benefit (costs), net(a) — operating income compare across companies?
Similar to legacy environmental or product liability charges found in industrial and manufacturing firms with long operating histories, often categorized under special items or litigation reserves.