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Commitments and Contingencies (Tables) | 9 Months Ended
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Sep. 30, 2011
Commitments and Contingencies [Abstract] |
Roll forward of asbestos claims |
|  | 2011(a) |
Pending claims – 12/31 |  |  | 103,575 |
New claims |  |  | 4,220 |
Settlements |  |  | (1,009 | )
Dismissals |  |  | (2,071 | )
Pending claims – 9/30 |  |  | 104,715 |
(a) |  | In September 2010, ITT executed an amended cost-sharing agreement related to a business we disposed of a number of years ago. The amended agreement provides for a sharing of costs for claims resolved between 2010 and 2019 naming ITT or the entity which acquired the disposed business. Claim activity associated with the amended cost-sharing agreement for claims that were not filed against ITT are excluded from the table above.
Net Asbestos Charges |
|  |  | Three Months |  |  | Nine Months |
|  |  | 2011 |  |  | 2010 |  |  | 2011 |  |  | 2010 |
Continuing operations |  |  | $ | 59 |  |  | $ | 341 |  |  | $ | 91 |  |  | $ | 368 |
Discontinued operations |  |  |  | (9 | ) |  |  | (10 | ) |  |  | (6 | ) |  |  | (10 | )
Total |  |  | $ | 50 |  |  | $ | 331 |  |  | $ | 85 |  |  | $ | 358 |
Roll forward of asbestos liability and related assets |
|  | Liability |  |  | Asset |  |  | Net |
Balance — 12/31 |  | $ | 1,676 |  |  | $ | 1,035 |  |  | $ | 641 |
Changes in estimate during the period: |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  |  | 102 |  |  |  | 11 |  |  |  | 91 |
Discontinued operations |  |  | (62 | ) |  |  | (56 | ) |  |  | (6 | )
Net cash activity |  |  | (56 | ) |  |  | (40 | ) |  |  | (16 | )
Balance — 9/30 |  | $ | 1,660 |  |  | $ | 950 |  |  | $ | 710 |

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