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COMMITMENTS AND CONTINGENCIES (Tables)
 9 Months Ended
Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Product Liability Contingencies [Table Text Block] As of September 30, 2019, there were approximately 24 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:
Pending claims – Beginning
24

New claims
3

Settlements
(1
)
Dismissals
(2
)
Pending claims – Ending
24
Net Asbestos Charges [Table Text Block] The table below summarizes the total net asbestos charges for the three and nine months ended September 30, 2019 and 2018.
 
Three Months
 
Nine Months
For the Periods Ended September 30
2019
 
2018
 
2019
 
2018
Asbestos provision
$
11.9

 
$
13.4

 
$
36.3

 
$
39.3

Net asbestos remeasurement (benefit) cost
(68.1
)
 
7.2

 
(68.1
)
 
7.2

Insurance settlement agreements(a)
—

 
(24.9
)
 
—

 
(57.0
)
Asbestos-related benefit, net
$
(56.2
)
 
$
(4.3
)
 
$
(31.8
)
 
$
(10.5
)
(a)
During 2018, we entered into a settlement agreement and a settlement-in-principle with insurers to settle responsibility for multiple insurance claims. Under the terms of the agreements, the insurers agreed to upfront payments to a Qualified Settlement Fund for past costs in addition to providing coverage for certain future asbestos claims on specified terms and conditions.
Roll Forward of Asbestos Liability and Related Assets he following table provides a rollforward of the estimated asbestos liability and related assets for the nine months ended September 30, 2019 and 2018.
 
2019
 
2018
For the Nine Months Ended September 30
Liability
 
Asset
 
Net
 
Liability
 
Asset
 
Net
Beginning balance
$
849.3


$
376.7


$
472.6

 
$
877.2

 
$
368.7

 
$
508.5

Asbestos provision(a)
45.1


8.8


36.3

 
48.5

 
9.2

 
39.3

Asbestos remeasurement
(4.5
)
 
63.6

 
(68.1
)
 
(8.6
)
 
(15.8
)
 
7.2

Insurance settlement agreement
—

 
—

 
—

 
—

 
57.0

 
(57.0
)
Net cash activity(a)
(62.1
)

(42.0
)

(20.1
)
 
(72.0
)
 
(29.7
)
 
(42.3
)
Ending balance
$
827.8


$
407.1


$
420.7

 
$
845.1

 
$
389.4

 
$
455.7

Current portion
$
86.2


$
77.1



 
$
73.3

 
$
67.1

 
 
Noncurrent portion
$
741.6


$
330.0




 
$
771.8

 
$
322.3

 
 
(a)
Includes certain administrative costs such as legal-related costs for insurance asset recoveries.
Rollforward of Environmental Liability and Related Assets
The following table provides a rollforward of the estimated environmental liability for the nine months ended September 30, 2019 and 2018.
For the Nine Months Ended September 30
2019
 
2018
Environmental liability - beginning balance
$
66.8

 
$
73.9

Change in estimates for pre-existing accruals
0.2

 
3.4

Accruals added during the period for new matters
—

 
2.0

Payments(a)
(4.4
)
 
(14.6
)
Foreign currency
(0.2
)
 
0.1

Environmental liability - ending balance
$
62.4

 
$
64.8


(a)
Includes cash payments of $9.7 for the nine months ended September 30, 2018 related to the sale of a former operating location.