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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2011
Commitments and Contingencies [Abstract] |
Actively related to asbestos claims |
|  | 2011 |  | 2010(b) |  | 2009
Pending claims(a) – January 1 |  |  |  | 103,575 |  |  |  |  | 104,679 |  |  |  |  | 103,006 |
New claims |  |  |  | 5,691 |  |  |  |  | 5,865 |  |  |  |  | 4,274 |
Settlements |  |  |  | (1,426 | ) |  |  |  | (991 | ) |  |  |  | (1081 | )
Dismissals |  |  |  | (2,354 | ) |  |  |  | (6,469 | ) |  |  |  | (4,728 | )
Adjustment(c) |  |  |  | – |  |  |  |  | 491 |  |  |  |  | 3,208 |
Pending claims(a) – December 31 |  |  |  | 105,486 |  |  |  |  | 103,575 |  |  |  |  | 104,679 |
(a) | Excludes 34,869 claims related to maritime actions, almost all of which were filed in the United States District Court for the Northern District of Ohio, because the Company believed they would not be litigated. In August 2010, these cases were dismissed.
(b) | In September 2010, ITT executed an amended cost-sharing agreement related to a business we disposed of a number of years ago. The cost sharing agreement provides that responsibility for costs associated with claims resolved gradually transitions away from ITT, such that ITT will have no responsibility for claims resolved beginning no later than July 1, 2022. The table above excludes claim activity associated with the amended cost-sharing agreement for claims that were not filed against ITT.
(c) | Reflects an adjustment to increase the number of open claims as a result of transitioning claims data from our primary insurance carriers to a third party claims administrator.
Net asbestos charges |
For the Year Ended |  | Continuing Operations |  | Discontinued Operations |  |
December 31, 2011 |  | Liability |  | Asset |  | Net |  | Liability |  | Asset |  | Net |  | Total
Provision |  |  | $ | 85 |  |  |  | $ | 26 |  |  |  | $ | 59 |  |  |  | $ | 24 |  |  |  | $ | 21 |  |  |  | $ | 3 |  |  |  | $ | 62 |
Remeasurement |  |  |  | 38 |  |  |  |  | (3 | ) |  |  |  | 41 |  |  |  |  | (82 | ) |  |  |  | (73 | ) |  |  |  | (9 | ) |  |  |  | 32 |
Asbestos-related costs before tax |  |  | $ | 123 |  |  |  | $ | 23 |  |  |  |  | 100 |  |  |  | $ | (58 | ) |  |  | $ | (52 | ) |  |  |  | (6 | ) |  |  |  | 94 |
Tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  | (37 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  | 2 |  |  |  |  | (35 | )
Asbestos-related costs, net of tax |  |  |  |  |  |  |  |  |  |  |  |  | $ | 63 |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (4 | ) |  |  | $ | 59 |
For the Year Ended |  | Continuing Operations |  | Discontinued Operations |  |
December 31, 2010 |  | Liability |  | Asset |  | Net |  | Liability |  | Asset |  | Net |  | Total
Provision |  |  | $ | 67 |  |  |  | $ | 12 |  |  |  | $ | 55 |  |  |  | $ | 50 |  |  |  | $ | 50 |  |  |  | $ | – |  |  |  | $ | 55 |
Remeasurement |  |  |  | 524 |  |  |  |  | 194 |  |  |  |  | 330 |  |  |  |  | 167 |  |  |  |  | 177 |  |  |  |  | (10 | ) |  |  |  | 320 |
Asbestos-related costs before tax |  |  | $ | 591 |  |  |  | $ | 206 |  |  |  |  | 385 |  |  |  | $ | 217 |  |  |  | $ | 227 |  |  |  |  | (10 | ) |  |  |  | 375 |
Tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  | (144 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 |  |  |  |  | (140 | )
Asbestos-related costs, net of tax |  |  |  |  |  |  |  |  |  |  |  |  | $ | 241 |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (6 | ) |  |  | $ | 235 |
For the Year Ended |  | Continuing Operations |  | Discontinued Operations |  |
December 31, 2009 |  | Liability |  | Asset |  | Net |  | Liability |  | Asset |  | Net |  | Total
Provision |  |  | $ | 56 |  |  |  | $ | 28 |  |  |  | $ | 28 |  |  |  | $ | 2 |  |  |  | $ | 6 |  |  |  | $ | (4 | ) |  |  | $ | 24 |
Remeasurement |  |  |  | 644 |  |  |  |  | 434 |  |  |  |  | 210 |  |  |  |  | 64 |  |  |  |  | 51 |  |  |  |  | 13 |  |  |  |  | 223 |
Asbestos-related costs before tax |  |  | $ | 700 |  |  |  | $ | 462 |  |  |  |  | 238 |  |  |  | $ | 66 |  |  |  | $ | 57 |  |  |  |  | 9 |  |  |  |  | 247 |
Tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  | (95 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  | (3 | ) |  |  |  | (98 | )
Asbestos-related costs, net of tax |  |  |  |  |  |  |  |  |  |  |  |  | $ | 143 |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6 |  |  |  | $ | 149 |
Roll forward of asbestos liability and related assets |
|  | 2011 |  | 2010
|  | Liability |  | Asset |  | Net |  | Liability |  | Asset |  | Net
Balance as of January 1 |  |  | $ | 1,676 |  |  |  | $ | 1,035 |  |  |  | $ | 641 |  |  |  | $ | 933 |  |  |  | $ | 667 |  |  |  | $ | 266 |
Changes in estimate during the period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  |  |  | 123 |  |  |  |  | 23 |  |  |  |  | 100 |  |  |  |  | 591 |  |  |  |  | 206 |  |  |  |  | 385 |
Discontinued operations |  |  |  | (58 | ) |  |  |  | (52 | ) |  |  |  | (6 | ) |  |  |  | 217 |  |  |  |  | 227 |  |  |  |  | (10 | )
Cash activity |  |  |  | (73 | ) |  |  |  | (52 | ) |  |  |  | (21 | ) |  |  |  | (54 | ) |  |  |  | (54 | ) |  |  |  | – |
Other adjustments |  |  |  | – |  |  |  |  | – |  |  |  |  | – |  |  |  |  | (11 | ) |  |  |  | (11 | ) |  |  |  | – |
Balance as of December 31 |  |  | $ | 1,668 |  |  |  | $ | 954 |  |  |  | $ | 714 |  |  |  | $ | 1,676 |  |  |  | $ | 1,035 |  |  |  | $ | 641 |
Current portion |  |  |  | 139 |  |  |  |  | 133 |  |  |  |  | 6 |  |  |  |  | 117 |  |  |  |  | 105 |  |  |  |  | 12 |
Noncurrent portion |  |  |  | 1,529 |  |  |  |  | 821 |  |  |  |  | 708 |  |  |  |  | 1,559 |  |  |  |  | 930 |  |  |  |  | 629 |
Roll forward of accrued environmental liabilities |
|  | 2011 |  | 2010
Environmental liability – January 1 |  |  | $ | 100 |  |  |  | $ | 101 |
Accruals added during the period |  |  |  | – |  |  |  |  | – |
Change in estimates for pre-existing accruals |  |  |  | 13 |  |  |  |  | 10 |
Payments |  |  |  | (11 | ) |  |  |  | (11 | )
Environmental liability – December 31 |  |  | $ | 102 |  |  |  | $ | 100 |
Range of environmental liability and number of active sites for these environmental matters |
|  | 2011 |  | 2010
Low-end range |  |  | $ | 81 |  |  |  | $ | 82 |
High end range |  |  | $ | 175 |  |  |  | $ | 180 |
Number of active environmental investigation and remediation sites |  |  |  | 64 |  |  |  |  | 65 |

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