COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Product Liability Contingencies [Table Text Block]

As of June 30, 2016, there were 35 thousand pending claims against ITT subsidiaries, 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:

For the Six Months Ended June 30 (in thousands)	2016
Pending claims – Beginning	37
New claims	2
Dismissals	(4	)
Pending claims – Ending	35

Roll Forward of Asbestos Liability and Related Assets

Changes in Financial Position

The following table provides a rollforward of the estimated asbestos liability and related assets for the six months endedJune 30, 2016 and 2015.

	2016									2015
For the Six Months Ended June 30	Liability			Asset			Net			Liability			Asset			Net
Beginning balance	$	1,042.8		$	412.0		$	630.8		$	1,223.2		$	476.4		$	746.8
Asbestos provision	35.4			4.8			30.6			36.6			5.3			31.3
Defense costs adjustment	(4.9		)	—			(4.9		)	(124.2		)	(23.5		)	(100.7		)
Settlement agreements	—			(2.1		)	2.1			—			—			—
Net cash activity	(35.3		)	(23.8		)	(11.5		)	(30.4		)	(23.9		)	(6.5		)
Ending balance	$	1,038.0		$	390.9		$	647.1		$	1,105.2		$	434.3		$	670.9
Current portion	$	87.4		$	74.5					$	105.7		$	102.4
Noncurrent portion	$	950.6		$	316.4					$	999.5		$	331.9

Rollforward of Environmental Liability and Related Assets

The following table provides a rollforward of the estimated environmental liability for the six months endedJune 30, 2016 and 2015.

For the Six Months Ended June 30	2016			2015
Environmental liability - beginning balance	$	82.6		$	89.9
Change in estimates for pre-existing accruals
Continuing operations	1.6			1.1
Discontinued operations	0.3			(2.8		)
Net cash activity	(7.7		)	(7.2		)
Foreign currency	—			(0.3		)
Environmental liability - ending balance	$	76.8		$	80.7