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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Activity Related to Asbestos Claims
As of December 31, 2015, there were 37 thousand pending active claims against ITT, including Goulds Pumps, filed in various state and federal courts alleging injury as a result of exposure to asbestos. Activity related to these asserted asbestos claims during the period was as follows:
(in thousands)
2015

 
2014

 
2013

Pending claims – Beginning
62

 
79

 
96

New claims
4

 
4

 
5

Settlements
(1
)
 
(2
)
 
(3
)
Dismissals
(28
)
 
(19
)
 
(19
)
Pending claims – Ending
37

 
62

 
79

Pending inactive claims(a)
—

 
13

 
13

Pending active claims
37

 
49

 
66

(a)
Inactive claims represent pending claims in Mississippi filed in 2004 or prior, which have been excluded from our asbestos measurement because the plaintiffs cannot demonstrate a significant compensable loss. As of December 31, 2015, all inactive claims have been dismissed.
Summary of Net Asbestos Charges
The table below summarizes the total net asbestos charge for the years ended December 31, 2015, 2014 and 2013.
 
2015

 
2014

 
2013

Asbestos provision
$
63.0

 
$
64.9

 
$
63.3

Defense cost adjustment
(100.7
)
 
—

 
—

Asbestos remeasurement, net
(44.8
)
 
(58.8
)
 
0.5

Settlement agreements
(8.9
)
 
(2.2
)
 
(31.0
)
Net asbestos (benefit) charge, net
(91.4
)
 
3.9

 
32.8
Roll Forward of Asbestos Liability and Related Assets
The following table provides a rollforward of the estimated asbestos liability and related assets for the years ended December 31, 2015 and 2014.
 
2015
 
2014
 
Liability

 
Asset

 
Net

 
Liability

 
Asset

 
Net

Balance as of January 1
$
1,223.2

 
$
476.4

 
$
746.8

 
$
1,264.7

 
$
517.8

 
$
746.9

Changes in estimate
(103.6
)
 
(21.1
)
 
(82.5
)
 
32.4

 
26.3

 
6.1

Settlement agreements
—

 
8.9

 
(8.9
)
 
—

 
2.2

 
(2.2
)
Net cash activity and other
(76.8
)
 
(52.2
)
 
(24.6
)
 
(73.9
)
 
(69.9
)
 
(4.0
)
Balance as of December 31
$
1,042.8

 
$
412.0

 
$
630.8

 
$
1,223.2

 
$
476.4

 
$
746.8

Current portion
88.0

 
74.5

 
 
 
106.6

 
102.4

 
 
Noncurrent portion
954.8

 
337.5

 
 
 
1,116.6

 
374.0

 
 
Rollforward of Environmental Liability and Related Assets Table
The following table provides a rollforward of the estimated environmental liability and related assets for the years ended December 31, 2015 and 2014.
 
2015
 
2014
 
Liability

 
Asset

 
Net

 
Liability

 
Asset

 
Net

Balance as of January 1
$
89.9

 
$
7.7

 
$
82.2

 
$
94.6

 
$
11.7

 
$
82.9

Changes in estimates for pre-existing accruals(a):
 
 
 
 
 
 
 
 
 
 
 
Pre-existing accrual additions
11.0

 
6.7

 
4.3

 
11.2

 
(3.7
)
 
14.9

Pre-existing accrual reversals
(5.6
)
 
(0.9
)
 
(4.7
)
 
(2.9
)
 
—

 
(2.9
)
Accruals added during the period for new matters
—

 
—

 
—

 
0.1

 
—

 
0.1

Net cash activity
(12.1
)
 
(0.7
)
 
(11.4
)
 
(12.6
)
 
(0.3
)
 
(12.3
)
Foreign currency
(0.6
)
 
—

 
(0.6
)
 
(0.5
)
 
—

 
(0.5
)
Balance as of December 31
$
82.6

 
$
12.8

 
$
69.8

 
$
89.9

 
$
7.7

 
$
82.2
Range of Environmental Liability and Number of Active Sites for Environmental Matters
The following table illustrates the reasonably possible high range of estimated liability, and number of active sites for environmental matters.
 
2015

 
2014

High end range
$
140.6

 
$
160.3

Number of active environmental investigation and remediation sites
49

 
54