COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Product Liability Contingencies [Table Text Block]

As of March 31, 2020, 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	1
Settlements	—
Dismissals	(1	)
Pending claims – Ending	24

Roll Forward of Asbestos Liability and Related Assets

he following table provides a rollforward of the estimated asbestos liability and related assets for the three months ended March 31, 2020 and 2019.

	2020									2019
For the Three Months Ended March 31	Liability			Asset			Net			Liability			Asset			Net
Beginning balance	$	817.6		$	386.8		$	430.8		$	849.3		$	376.7		$	472.6
Asbestos provision(a)	14.5			2.7			11.8			15.7			3.1			12.6
Insurance settlement agreement	—			52.5			(52.5		)	—			—			—
Net cash activity(a)	(27.3		)	(21.2		)	(6.1		)	(20.1		)	(10.2		)	(9.9		)
Ending balance	$	804.8		$	420.8		$	384.0		$	844.9		$	369.6		$	475.3
Current portion	$	86.3		$	67.2					$	73.5		$	67.1
Noncurrent portion	$	718.5		$	353.6					$	771.4		$	302.5

(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 three months ended March 31, 2020 and 2019.

For the Three Months Ended March 31	2020			2019
Environmental liability - beginning balance	$	61.9		$	66.8
Change in estimates for pre-existing accruals:
Continuing operations	—			(0.1		)
Discontinued operations	(1.6		)	—
Payments	(1.6		)	(2.6		)
Foreign currency	(0.2		)	(0.1		)
Environmental liability - ending balance	$	58.5		$	64.0