ITT Inc 2024年度报告

FORM 10-K TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934 For the Transition period from_____ to _____Commission File No. 001-05672 ITT INC. 81-1197930 (State or Other Jurisdiction of Incorporation or Organization)100 Washington Boulevard6th Floor, Stamford, CT06902(Address of Principal Executive Offices)(Zip Code) (I.R.S. Employer Identification No.) (914) 641-2000(Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:None. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes þNo ¨ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days.Yes þNo ¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).Yes þNo ¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growthcompany" in Rule 12b-2 of the Exchange Act. ₂Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internalcontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm thatprepared or issued its audit report. Yes þNo ¨ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements.₂ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).₂ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes₂No þ The aggregate market value of common stock of the registrant held by non-affiliates of the registrant on June 30, 2024 was approximately $10.5 billion.As of February 7, 2025, there were 81.4 million shares of the registrant's common stock outstanding. TABLE OF CONTENTS PART I 1Description of Business11ARisk Factors121BUnresolved Staff Comments211CCybersecurity212Properties223Legal Proceedings234Mine Safety Disclosures24*Information About Our Executive Officers23 PART II 5Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities256[Reserved]267Management’s Discussion and Analysis of Financial Condition and Results of Operations277AQuantitative and Qualitative Disclosures About Market Risk448Financial Statements and Supplementary Data459Changes in and Disagreements with Accountants on Accounting and Financial Disclosure459AControls and Procedures459BOther Information479CDisclosures Regarding Foreign Jurisdictions that Prevent Inspections47 PART III 10Directors, Executive Officers and Corporate Governance4911Executive Compensation4912Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters4913Certain Relationships and Related Transactions, and Director Independence4914Principal Accounting Fees and Services49 PART IV WHERE YOU CAN FIND MORE INFORMATIONWe file annual, quarterly and current reports, proxy statements and other information with the U.S. Securities and Exchange Commission (the SEC). The SEC maintains a website at www.sec.gov on whichyou may access our SEC filings. In addition, we make available free of charge at investors.itt.com copiesof materials we file with, or furnish to, the SEC as soon as reasonably practical after we electronically fileor furnish these reports, as well as other important information that we disclose from time to time. Inaddition, in certain sections of this Annual Report on Form 10-K we refer readers to additional informationthat is contained on our w