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COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended
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Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract] |
Product Liability Contingencies [Table Text Block] | As of September 30, 2013, there were approximately 59 thousand pending active claims against ITT, including Goulds Pumps, 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:
For the Nine Months Ended September 30 (in thousands) | 2013 |  | 2012
Pending claims – Beginning | 96 |  |  | 105 |
New claims | 4 |  |  | 3 |
Settlements | (3 | ) |  | (1 | )
Dismissals(a) | (20 | ) |  | (11 | )
Pending claims – Ending | 77 |  |  | 96 |
Pending inactive claims(a) | 18 |  |  | 29 |
Pending active claims | 59 |  |  | 67 |
(a) | The 2013 and 2012 dismissals reported in the table above include the dismissal of approximately 12 thousand claims and 10 thousand claims, respectively, that were considered pending inactive claims. Inactive claims represent pending claims in Mississippi filed prior to 2004, which have been excluded from our asbestos measurement because the plaintiffs cannot demonstrate a significant compensable loss. As such, management believes these claims have little to no value.
Components of Asbestos Related Charges, Net | The tables below summarize the total net asbestos charges for the three and nine months ended September 30, 2013 and 2012.
|  | Three Months |  | Nine Months
|  | 2013 |  | 2012 |  | 2013 |  | 2012
Continuing Operations: |  |  |  |  |  |  |  |
Asbestos provision |  | $ | 15.1 |  |  | $ | 15.7 |  |  | $ | 47.0 |  |  | $ | 38.0 |
Asbestos remeasurement, net |  | 0.5 |  |  | 2.9 |  |  | 0.5 |  |  | 2.9 |
Settlement agreement |  | (31.0 | ) |  | (5.8 | ) |  | (31.0 | ) |  | (5.8 | )
Net asbestos charge - Continuing Operations |  | (15.4 | ) |  | 12.8 |  |  | 16.5 |  |  | 35.1 |
Discontinued Operations: |  |  |  |  |  |  |  |
Asbestos provision |  | — |  |  | — |  |  | — |  |  | 0.7 |
Settlement agreement |  | — |  |  | (5.6 | ) |  | — |  |  | (5.6 | )
Net asbestos charge - Discontinued Operations |  | — |  |  | (5.6 | ) |  | — |  |  | (4.9 | )
Total net asbestos charge |  | $ | (15.4 | ) |  | $ | 7.2 |  |  | $ | 16.5 |  |  | $ | 30.2 |
Roll Forward of Asbestos Liability and Related Assets | Changes in Financial Position The Company's estimated asbestos exposure, net of expected recoveries, for the resolution of all pending claims and claims estimated to be filed in the next 10 years was $736.8 and $739.5 as of September 30, 2013 and December 31, 2012, respectively. The following table provides a rollforward of the estimated asbestos liability and related assets for the nine months ended September 30, 2013.
| Liability | Asset | Net
Balance as of December 31, 2012 | $ | 1,347.4 |  | $ | 607.9 |  | $ | 739.5 |
Asbestos provision | 57.6 |  | 10.6 |  | 47.0 |
Asbestos remeasurement | (65.0 | ) | (65.5 | ) | 0.5 |
Settlement agreement | — |  | 31.0 |  | (31.0 | )
Net cash activity | (70.1 | ) | (50.9 | ) | (19.2 | )
Balance as of September 30, 2013 | $ | 1,269.9 |  | $ | 533.1 |  | $ | 736.8 |
Current portion | $ | 84.5 |  | $ | 84.5 |  |
Noncurrent portion | $ | 1,185.4 |  | $ | 448.6 |  |
Rollforward of Environmental Liability and Related Assets | The following table provides a rollforward of the estimated environmental liability and related assets for the nine months ended September 30, 2013.
| Liability |  | Asset |  | Net
Environmental liability - December 31, 2012 | $ | 96.1 |  |  | $ | 12.3 |  |  | $ | 83.8 |
Change in estimates for pre-existing accruals: |  |  |  |  |
Continuing operations | 5.0 |  |  | (0.1 | ) |  | 5.1 |
Discontinued operations | 1.4 |  |  | — |  |  | 1.4 |
Accruals added during the period for new matters | 0.4 |  |  | — |  |  | 0.4 |
Net cash activity | (9.4 | ) |  | (0.5 | ) |  | (8.9 | )
Environmental liability - September 30, 2013 | $ | 93.5 |  |  | $ | 11.7 |  |  | $ | 81.8 |
The following table illustrates the reasonably possible range of estimated liability, and number of active sites for environmental matters, at September 30, 2013.
Low-end estimate | $ | 73.0 |
High end estimate | $ | 166.0 |
Number of active environmental investigation and remediation sites | 63 |

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