COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Product Liability Contingencies [Table Text Block]

As of June 30, 2018, there were approximately 25 thousand pending claims against ITT subsidiaries, including Goulds Pumps LLC, 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)	2018
Pending claims – Beginning	26
New claims	2
Settlements	—
Dismissals	(3	)
Pending claims – Ending	25

Roll Forward of Asbestos Liability and Related Assets

The following table provides a rollforward of the estimated asbestos liability and related assets for the six months ended June 30, 2018 and 2017.

	2018									2017
For the Six Months Ended June 30	Liability			Asset			Net			Liability			Asset			Net
Beginning balance	$	877.2		$	368.7		$	508.5		$	954.3		$	380.6		$	573.7
Asbestos provision	32.0			6.1			25.9			34.8			5.0			29.8
Insurance settlement agreements	—			32.1			(32.1		)	—			—			—
Net cash activity	(50.4		)	(19.6		)	(30.8		)	(46.5		)	(15.8		)	(30.7		)
Ending balance	$	858.8		$	387.3		$	471.5		$	942.6		$	369.8		$	572.8
Current portion	$	77.2		$	64.7					$	76.6		$	66.0
Noncurrent portion	$	781.6		$	322.6					$	866.0		$	303.8

Rollforward of Environmental Liability and Related Assets

The following table provides a rollforward of the estimated environmental liability for the six months ended June 30, 2018 and 2017. 

For the Six Months Ended June 30	2018			2017
Environmental liability - beginning balance	$	73.9		$	76.6
Change in estimates for pre-existing accruals	3.3			1.7
Accruals added during the period for new matters	2.0			—
Net cash activity	(12.2		)	(5.3		)
Foreign currency	0.1			0.1
Environmental liability - ending balance	$	67.1		$	73.1