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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Activity Related to Asbestos Claims As of December 31, 2019, there were 24 thousand pending active claims against our 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:
(in thousands)
2019

 
2018

 
2017

Pending claims – Beginning
24

 
26

 
30

New claims
4

 
4

 
4

Settlements
(1
)
 
(1
)
 
(2
)
Dismissals
(3
)
 
(5
)
 
(6
)
Pending claims – Ending
24

 
24

 
26
Summary of Net Asbestos Charges
The table below summarizes the total net asbestos-related charge for the years ended December 31, 2019, 2018 and 2017.
 
2019

 
2018

 
2017

Asbestos provision, net(a)
$
47.9

 
$
53.8

 
$
56.5

Asbestos remeasurement, net
(68.1
)
 
10.0

 
(76.4
)
Settlement agreements and other
—

 
(58.9
)
 
—

Asbestos-related (benefit) cost, net
$
(20.2
)
 
$
4.9

 
$
(19.9
)
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, 2019 and 2018.
 
2019
 
2018
 
Liability

 
Asset

 
Net

 
Liability

 
Asset

 
Net

Balance as of January 1
$
849.3

 
$
376.7

 
$
472.6

 
$
877.2

 
$
368.7

 
$
508.5

Asbestos provision(a)
59.4

 
11.5

 
47.9

 
66.1

 
12.3

 
53.8

Asbestos remeasurement
(4.5
)
 
63.6

 
(68.1
)
 
(5.8
)
 
(15.8
)
 
10.0

Settlement agreements
—

 
—

 
—

 
—

 
58.9

 
(58.9
)
Net cash activity and other(a)
(86.6
)
 
(65.0
)
 
(21.6
)
 
(88.2
)
 
(47.4
)
 
(40.8
)
Balance as of December 31
$
817.6

 
$
386.8

 
430.8

 
$
849.3

 
$
376.7

 
$
472.6

Current portion
86.0

 
67.2

 
 
 
74.2

 
67.1

 
 
Noncurrent portion
731.6

 
319.6

 
 
 
775.1

 
309.6

 
 

(a)
Includes certain administrative costs such as legal-related costs for insurance asset recoveries.
Rollforward of Environmental Liability and Related Assets Table
The following table provides a rollforward of the estimated current and long-term environmental liability for the years ended December 31, 2019 and 2018.
 
2019

 
2018

Balance as of January 1
$
66.8

 
$
73.9

Changes in estimates for pre-existing accruals
0.5

 
6.6

Accruals added during the period for new matters
—

 
2.0

Net cash activity(a)
(5.4
)
 
(15.8
)
Foreign currency
—

 
0.1

Balance as of December 31
$
61.9

 
$
66.8


(a)
Includes cash payments for the year ended December 31, 2018 of $10.2, related to the sale of a former operating location.
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.
 
2019

 
2018

High end range
$
108.4

 
$
115.9

Number of active environmental investigation and remediation sites
28

 
31