ITT Financial definition

ITT Financial means ITT Financial Corporation, a Delaware corporation, and its successors in interest.
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Examples of ITT Financial in a sentence

  • He previously served as Executive Vice President and Chief Financial Officer of ITT Financial Corporation from March 1993 until February 1995.

  • However, this Agreement does not supersede the certain Agreement and Plan of Merger identified in the first footnote on page 3 of Schedule 1.01(c) of the Distribution Agreement, provided, however, that the liabilities of ITT Corporation with respect to tax matters under such Agreement and Plan of Merger shall be apportioned as provided in the Distribution Agreement for liabilities of ITT Financial Corporation and its subsidiaries.

  • Stockholders equity increased by $1.2 billion during the first nine months of 1995, excluding the SFAS 115 impact, due to growth in retained earnings which included the ITT Financial gain on sale of $403 million after tax and the elimination of the deferred compensation on the ESOP, as a result of the ESOP termination in July, 1995.

  • ITT Financial has been reflected as a "Discontinued Operation" in the financial statements of ITT Industries.

  • Businesses comprising ITT Financial were sold at various times throughout the first and second quarters of 1995 and the substantial portion of these proceeds have been received by September 30, 1995.

  • Proceeds from these transactions were used to repay ITT Financial debt.

  • Gross proceeds totaling $12.7 billion were realized in 1995 from the sale of the businesses comprising ITT Financial.

  • Income from discontinued operations totaled $936 million (including $403 million reflecting the gain on the sale of ITT Financial) and $610 million for the first nine months of 1995 and 1994, respectively, and represents the results of ITT Hartford, New ITT, ITT Financial and, in 1994, Rayonier.

  • In 1994, ITT Delaware announced plans to seek offers for the purchase of its former subsidiary (ITT Financial Corporation, "ITT Financial") which conducted its commercial and consumer finance, related insurance and other financial services businesses, including a mortgage banking operation.

  • The Corporation recognized an after tax gain of $403 million ($667 million pre-tax) or $3.44 per fully diluted share in the second quarter including a provision for the remaining asset sales and closedown costs of ITT Financial Corporation.