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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract] |
Activity Related to Asbestos Claims | As of December 31, 2015, there were 37 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:
(in thousands) | 2015 |  |  | 2014 |  |  | 2013 |
Pending claims – Beginning | 62 |  |  | 79 |  |  | 96 |
New claims | 4 |  |  | 4 |  |  | 5 |
Settlements | (1 | ) |  | (2 | ) |  | (3 | )
Dismissals | (28 | ) |  | (19 | ) |  | (19 | )
Pending claims – Ending | 37 |  |  | 62 |  |  | 79 |
Pending inactive claims(a) | — |  |  | 13 |  |  | 13 |
Pending active claims | 37 |  |  | 49 |  |  | 66 |
(a) | Inactive claims represent pending claims in Mississippi filed in 2004 or prior, which have been excluded from our asbestos measurement because the plaintiffs cannot demonstrate a significant compensable loss. As of December 31, 2015, all inactive claims have been dismissed.
Summary of Net Asbestos Charges | The table below summarizes the total net asbestos charge for the years ended December 31, 2015, 2014 and 2013.
| 2015 |  |  | 2014 |  |  | 2013 |
Asbestos provision | $ | 63.0 |  |  | $ | 64.9 |  |  | $ | 63.3 |
Defense cost adjustment | (100.7 | ) |  | — |  |  | — |
Asbestos remeasurement, net | (44.8 | ) |  | (58.8 | ) |  | 0.5 |
Settlement agreements | (8.9 | ) |  | (2.2 | ) |  | (31.0 | )
Net asbestos (benefit) charge, net | (91.4 | ) |  | 3.9 |  |  | 32.8 |
Roll Forward of Asbestos Liability and Related Assets | The following table provides a rollforward of the estimated asbestos liability and related assets for the years ended December 31, 2015 and 2014.
| 2015 |  | 2014
| Liability |  |  | Asset |  |  | Net |  |  | Liability |  |  | Asset |  |  | Net |
Balance as of January 1 | $ | 1,223.2 |  |  | $ | 476.4 |  |  | $ | 746.8 |  |  | $ | 1,264.7 |  |  | $ | 517.8 |  |  | $ | 746.9 |
Changes in estimate | (103.6 | ) |  | (21.1 | ) |  | (82.5 | ) |  | 32.4 |  |  | 26.3 |  |  | 6.1 |
Settlement agreements | — |  |  | 8.9 |  |  | (8.9 | ) |  | — |  |  | 2.2 |  |  | (2.2 | )
Net cash activity and other | (76.8 | ) |  | (52.2 | ) |  | (24.6 | ) |  | (73.9 | ) |  | (69.9 | ) |  | (4.0 | )
Balance as of December 31 | $ | 1,042.8 |  |  | $ | 412.0 |  |  | $ | 630.8 |  |  | $ | 1,223.2 |  |  | $ | 476.4 |  |  | $ | 746.8 |
Current portion | 88.0 |  |  | 74.5 |  |  |  |  | 106.6 |  |  | 102.4 |  |  |
Noncurrent portion | 954.8 |  |  | 337.5 |  |  |  |  | 1,116.6 |  |  | 374.0 |  |  |
Rollforward of Environmental Liability and Related Assets Table | The following table provides a rollforward of the estimated environmental liability and related assets for the years ended December 31, 2015 and 2014.
| 2015 |  | 2014
| Liability |  |  | Asset |  |  | Net |  |  | Liability |  |  | Asset |  |  | Net |
Balance as of January 1 | $ | 89.9 |  |  | $ | 7.7 |  |  | $ | 82.2 |  |  | $ | 94.6 |  |  | $ | 11.7 |  |  | $ | 82.9 |
Changes in estimates for pre-existing accruals(a): |  |  |  |  |  |  |  |  |  |  |
Pre-existing accrual additions | 11.0 |  |  | 6.7 |  |  | 4.3 |  |  | 11.2 |  |  | (3.7 | ) |  | 14.9 |
Pre-existing accrual reversals | (5.6 | ) |  | (0.9 | ) |  | (4.7 | ) |  | (2.9 | ) |  | — |  |  | (2.9 | )
Accruals added during the period for new matters | — |  |  | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Net cash activity | (12.1 | ) |  | (0.7 | ) |  | (11.4 | ) |  | (12.6 | ) |  | (0.3 | ) |  | (12.3 | )
Foreign currency | (0.6 | ) |  | — |  |  | (0.6 | ) |  | (0.5 | ) |  | — |  |  | (0.5 | )
Balance as of December 31 | $ | 82.6 |  |  | $ | 12.8 |  |  | $ | 69.8 |  |  | $ | 89.9 |  |  | $ | 7.7 |  |  | $ | 82.2 |
Range of Environmental Liability and Number of Active Sites for Environmental Matters | The following table illustrates the reasonably possible high range of estimated liability, and number of active sites for environmental matters.
| 2015 |  |  | 2014 |
High end range | $ | 140.6 |  |  | $ | 160.3 |
Number of active environmental investigation and remediation sites | 49 |  |  | 54 |

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