Asbestos Liability and Related Assets Net Current and Noncurrent

No definition available.

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- Definition

Asbestos-related assets include both the probable insurance recoveries for the asbestos liabilities for pending claims, as well as unasserted claims to be filed over the next 10 years.

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No definition available.

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- Definition

In the third quarter of each year, we conduct our asbestos remeasurement to review and update the underlying assumptions used in our asbestos liability and related asset estimates and to determine the cost the Company estimates will be incurred to resolve all pending claims, as well as unasserted claims estimated to be filed over the next 10 years. In each remeasurement, the underlying assumptions are updated based on actual experience since the previous annual remeasurement and we reassess the appropriate reference period of years of experience used in determining each assumption and our expectations regarding future conditions, including inflation.

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No definition available.

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- Definition

In addition to the charges associated with our annual measurement, we record a net asbestos charge each quarter to maintain a rolling 10-year forecast period.

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No definition available.

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- Definition

During 2013, ITT executed a final settlement agreement (the 2013 Settlement) with an insurer to settle responsibility for multiple categories of insured claims, including pending and future product liability claims. Under the terms of the 2013 Settlement, the insurer agreed to a specified series of payments over the course of the next five years, resulting in a one-time benefit of $31.0.

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No definition available.

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- Definition

Asbestos-related current assets.

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No definition available.

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- Definition

Asbestos related liability current.

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No definition available.

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- Definition

Change in Defense Cost Estimate for Asbestos Matters

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No definition available.

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- Definition

The payments made in the period which reduced asbestos loss contingency reserves, net of associated insurance reimbursements.

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No definition available.

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- Definition

[Line Items] for Net Asbestos Liability Rollforward [Table]

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No definition available.

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- Definition

Amount of loss contingency liability expected to be resolved after one year or beyond the normal operating cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14326-108349

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COMMITMENTS AND CONTINGENCIES Roll Forward of Asbestos Liability and Related Assets (Detail) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning			$ (630.8)		$ (630.8)	$ (746.8)
Asbestos Related Costs (Benefit), Provision to Maintain 10-Year Forecast Period	$ (13.7)			$ (15.7)	(44.3)	(47.0)
Change in Defense Cost Estimate for Asbestos Matters	0.0			0.0	4.9	100.7
Asbestos Related Costs (Benefit), Annual Remeasurement	(81.8)			(44.8)	(81.8)	(44.8)
Loss (Gain) From Asbestos Insurance Settlement Agreement	0.0	$ (4.7)	2.6	1.2	(2.1)	1.2
Increase Decrease Net Cash Activity					24.5	15.2
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending	(566.0)			(631.9)	(566.0)	(631.9)
Asbestos-related liabilities Current	76.1			87.6	76.1	87.6	$ 88.0
Asbestos-related liabilities Non-Current	875.7			961.2	875.7	961.2	954.8
Asbestos-related assets Current	66.0			74.5	66.0	74.5	74.5
Asbestos-related assets Non-Current	319.8			342.4	319.8	342.4	$ 337.5
Liability [Member]
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning			(1,042.8)		(1,042.8)	(1,223.2)
Asbestos Related Costs (Benefit), Provision to Maintain 10-Year Forecast Period					(51.6)	(54.8)
Change in Defense Cost Estimate for Asbestos Matters					4.9	124.2
Asbestos Related Costs (Benefit), Annual Remeasurement	(75.9)				(75.9)	(52.7)
Loss (Gain) From Asbestos Insurance Settlement Agreement					0.0	0.0
Increase Decrease Net Cash Activity					61.8	52.3
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending	(951.8)			(1,048.8)	(951.8)	(1,048.8)
Assets [Member]
Net Asbestos Liability Rollforward [Line Items]
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning			$ 412.0		412.0	476.4
Asbestos Related Costs (Benefit), Provision to Maintain 10-Year Forecast Period					7.3	7.8
Change in Defense Cost Estimate for Asbestos Matters					0.0	(23.5)
Asbestos Related Costs (Benefit), Annual Remeasurement	5.9				5.9	(7.9)
Loss (Gain) From Asbestos Insurance Settlement Agreement					(2.1)	1.2
Increase Decrease Net Cash Activity					(37.3)	(37.1)
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending	$ 385.8			$ 416.9	$ 385.8	$ 416.9