ITT (ITT) Intangible Assets

: $1,141 Mil (As of Dec. 2023)

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Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. ITT's intangible assets for the quarter that ended in Dec. 2023 was $1,141 Mil.

ITT Intangible Assets Historical Data

The historical data trend for ITT's Intangible Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

ITT Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Intangible Assets

1,095.30

1,075.10

1,026.70

1,090.00

1,140.80

ITT Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Intangible Assets																1,090.00	1,087.20	1,155.70	1,133.20	1,140.80

ITT Intangible Assets Calculation

Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.

ITT (NYSE:ITT) Intangible Assets Explanation

If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.

The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.

Some intangibles are amortized. Amortization is the depreciation of intangible assets.

Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.

Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.

If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.

Intangibles acquired are on balance sheet at fair value.

Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.

One of the reasons competitive advantage power can remain hidden for so long.

Be Aware

Companies may change the way intangible assets are amortized, and this will affect their reported earnings.

ITT Intangible Assets Related Terms

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ITT (ITT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » ITT Inc (NYSE:ITT) » Definitions » Intangible Assets

Comparable Companies

Traded in Other Exchanges

2II:Germany 2II:Germany

Address

100 Washington Boulevard, 6th Floor, Stamford, CT, USA, 06902

Website

https://www.itt.com

ITT is a diversified industrial conglomerate with over $3 billion in sales. After the spinoffs of Xylem and Exelis in 2011, the company's products primarily include brake pads, shock absorbers, pumps, valves, connectors, and switches. Its customers include original-equipment and Tier 1 manufacturers as well as aftermarket customers. ITT uses a network of approximately 700 independent distributors, which accounts for about one third of overall revenue. Nearly three fourths of the company's sales are made in North America and Europe. ITT's primary end markets include automotive, rail, oil and gas, aerospace and defense, chemical, mining, and general industrial.

Executives

Ryan F. Flynn	officer: See Remarks	56 TECHNOLOGY DR., IRVINE CA 92618
Don Defosset	director	C/O TEREX CORPORATION, 200 NYALA FARM ROAD, WESTPORT CT 06880
Nazzic S Keene	director	1710 SAIC DRIVE, MCLEAN VA 22102
Kevin C Berryman	director	521 WEST 57TH STREET, NEW YORK NY 10019
Maurine C. Lembesis	officer: See Remarks	8 RYANS RUN, PLEASANT VALLEY NY 12569
Carlo Ghirardo	officer: See Remarks	VIA BONINO, 5, BRA (CN) L6 12042
Fernando Roland	officer: SVP & Pres Industrial Process	100 WASHINGTON BLVD., 6TH FLOOR, STAMFORD CT 06902
Lori B. Marino	officer: SVP, General Counsel	100 WASHINGTON BLVD, STAMFORD CT 06902
De Mesa Graziano Cheryl	officer: VP, Chief Accounting Officer	80 GRASSLANDS ROAD, ELMSFORD NY 10523
Emmanuel Caprais	officer: Chief Financial Officer	1133 WESTCHESTER AVENUE, WHITE PLAINS NY 10604
Mary Elizabeth Gustafsson	officer: See Remarks	ITT CORPORATION, 1133 WESTCHESTER AVENUE, WHITE PLAINS NY 10604
Timothy H Powers	director	C/O RICHARD W DAVLES HUBBELL INC, 684 DERBY MILFORD RD, ORANGE CT 06477
Luca Savi	officer: See Remarks	C/O ITT CORPORATION, 1133 WESTCHESTER AVENUE, WHITE PLAINS NY 10604
Bartek Markowiecki	officer: SVP, Strategy & Corp Dev.	C/O ITT INC., 1133 WESTCHESTER AVENUE, WHITE PLAINS NY 10604
Orlando D Ashford	director	C/O AMERANT BANK, 220 ALHAMBRA CR., CORAL GABLES FL 33134