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COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended
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Mar. 31, 2014
Environmental Matters Range Of Estimated Liability And Active Sites Numbers [Line Items] |
Range Of Liability And Number Of Active Sites For Environmental Matters Table [Table Text Block] | The following table illustrates the reasonably possible range of estimated liability, and number of active sites for environmental matters, at March 31, 2014.
Low-end estimate | $ | 72.0 |
High end estimate | $ | 163.9 |
Number of active environmental investigation and remediation sites | 56 |
Product Liability Contingencies [Table Text Block] | As of March 31, 2014, there were approximately 51 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 Three Months Ended March 31 (in thousands) | 2014 |  | 2013
Pending claims – Beginning | 79 |  |  | 96 |
New claims | 1 |  |  | 1 |
Settlements | (2 | ) |  | (2 | )
Dismissals(a) | (9 | ) |  | (5 | )
Pending claims – Ending | 69 |  |  | 90 |
Pending inactive claims(a) | 18 |  |  | 26 |
Pending active claims | 51 |  |  | 64 |
(a) | The 2013 dismissals reported in the table above include the dismissal of approximately 4 thousand claims that were considered pending inactive claims. No pending inactive claims were dismissed during the first quarter of 2014. 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.
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 $760.2 and $746.9 as of March 31, 2014 and December 31, 2013, respectively. The following table provides a rollforward of the estimated asbestos liability and related assets for the three months ended March 31, 2014.
| Liability |  | Asset |  | Net
Balance as of December 31, 2013 | $ | 1,264.7 |  |  | $ | 517.8 |  |  | $ | 746.9 |
Asbestos provision | 18.2 |  |  | 2.4 |  |  | 15.8 |
Net cash activity | (13.3 | ) |  | (10.8 | ) |  | (2.5 | )
Balance as of March 31, 2014 | $ | 1,269.6 |  |  | $ | 509.4 |  |  | $ | 760.2 |
Current portion | $ | 84.6 |  |  | $ | 84.4 |  |  |
Noncurrent portion | $ | 1,185.0 |  |  | $ | 425.0 |  |  |
Rollforward of Environmental Liability and Related Assets | The following table provides a rollforward of the estimated environmental liability and related assets for the three months ended March 31, 2014.
| Liability |  | Asset |  | Net
Balance as of December 31, 2013 | $ | 94.6 |  |  | $ | 11.7 |  |  | $ | 82.9 |
Change in estimates for pre-existing accruals: |  |  |  |  |
Continuing operations | 1.2 |  |  | 0.1 |  |  | 1.1 |
Discontinued operations | 0.6 |  |  | — |  |  | 0.6 |
Accruals added during the period for new matters | 0.1 |  |  | — |  |  | 0.1 |
Net cash activity | (3.4 | ) |  | (0.1 | ) |  | (3.3 | )
Balance as of March 31, 2014 | $ | 93.1 |  |  | $ | 11.7 |  |  | $ | 81.4 |

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