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COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended
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Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract] |
Product Liability Contingencies [Table Text Block] | As of March 31, 2017, there were approximately 27 thousand pending claims against ITT subsidiaries, including Goulds Pumps LLC, 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) | 2017
Pending claims – Beginning | 30 |
New claims | 1 |
Settlements | (1 | )
Dismissals | (3 | )
Pending claims – Ending | 27 |
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 $575.6 and $573.7 as of March 31, 2017 and December 31, 2016.The following table provides a rollforward of the estimated asbestos liability and related assets for the three months ended March 31, 2017 and 2016.
| 2017 |  | 2016
For the Three Months Ended March 31 | Liability |  | Asset |  | Net |  | Liability |  | Asset |  | Net
Beginning balance | $ | 954.3 |  |  | $ | 380.6 |  |  | $ | 573.7 |  |  | $ | 1,042.8 |  |  | $ | 412.0 |  |  | $ | 630.8 |
Asbestos provision | 17.4 |  |  | 2.5 |  |  | 14.9 |  |  | 17.8 |  |  | 2.4 |  |  | 15.4 |
Insurance settlement agreements | — |  |  | — |  |  | — |  |  | — |  |  | 2.6 |  |  | (2.6 | )
Net cash activity | (28.8 | ) |  | (15.8 | ) |  | (13.0 | ) |  | (15.5 | ) |  | (11.2 | ) |  | (4.3 | )
Ending balance | $ | 942.9 |  |  | $ | 367.3 |  |  | $ | 575.6 |  |  | $ | 1,045.1 |  |  | $ | 405.8 |  |  | $ | 639.3 |
Current portion | $ | 76.3 |  |  | $ | 66.0 |  |  |  |  | $ | 88.1 |  |  | $ | 74.5 |  |  |
Noncurrent portion | $ | 866.6 |  |  | $ | 301.3 |  |  |  |  |  | $ | 957.0 |  |  | $ | 331.3 |  |  |
Rollforward of Environmental Liability and Related Assets | The following table provides a rollforward of the estimated environmental liability for the three months ended March 31, 2017 and 2016.
For the Three Months Ended March 31 | 2017 |  | 2016
Environmental liability - beginning balance | $ | 76.6 |  |  | $ | 82.6 |
Change in estimates for pre-existing accruals |  |  |
Continuing operations | (0.7 | ) |  | 0.7 |
Discontinued operations | — |  |  | 0.5 |
Net cash activity | (3.4 | ) |  | (5.1 | )
Foreign currency | — |  |  | 0.1 |
Environmental liability - ending balance | $ | 72.5 |  |  | $ | 78.8 |

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- Definition Tabular disclosure of exposure to material amount of loss arising from allegations of damages pertaining to and arising from one or more of the entity's products. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14326-108349 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14453-108349 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.Y.Q2) -URI http://asc.fasb.org/extlink&oid=27011672&loc=d3e149879-122751 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14394-108349 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14557-108349 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14435-108349 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14472-108349 + Details
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