XML 60 R46.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Commitments and Contingencies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract] |
Activity Related to Asbestos Claims | As of December 31, 2017, there were 26 thousand pending active claims against ITT subsidiaries, 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) | 2017 |  |  | 2016 |  |  | 2015 |
Pending claims – Beginning | 30 |  |  | 37 |  |  | 62 |
New claims | 4 |  |  | 4 |  |  | 4 |
Settlements | (2 | ) |  | (1 | ) |  | (1 | )
Dismissals | (6 | ) |  | (10 | ) |  | (28 | )
Pending claims – Ending | 26 |  |  | 30 |  |  | 37 |
Summary of Net Asbestos Charges | The table below summarizes the total net asbestos charge for the years ended December 31, 2017, 2016 and 2015.
| 2017 |  |  | 2016 |  |  | 2015 |
Asbestos provision | $ | 56.5 |  |  | $ | 59.0 |  |  | $ | 63.0 |
Asbestos remeasurement, net | (76.4 | ) |  | (81.8 | ) |  | (44.8 | )
Defense cost adjustment | — |  |  | (4.9 | ) |  | (100.7 | )
Settlement agreements | — |  |  | 2.1 |  |  | (8.9 | )
Asbestos-related benefit, net | $ | (19.9 | ) |  | $ | (25.6 | ) |  | $ | (91.4 | )
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, 2017 and 2016.
| 2017 |  | 2016
| Liability |  |  | Asset |  |  | Net |  |  | Liability |  |  | Asset |  |  | Net |
Balance as of January 1 | $ | 954.3 |  |  | $ | 380.6 |  |  | $ | 573.7 |  |  | $ | 1,042.8 |  |  | $ | 412.0 |  |  | $ | 630.8 |
Asbestos provision | 67.1 |  |  | 10.6 |  |  | 56.5 |  |  | 68.8 |  |  | 9.8 |  |  | 59.0 |
Asbestos remeasurement | (66.4 | ) |  | 10.0 |  |  | (76.4 | ) |  | (75.9 | ) |  | 5.9 |  |  | (81.8 | )
Settlement agreements | — |  |  | — |  |  | — |  |  | — |  |  | (2.1 | ) |  | 2.1 |
Defense cost adjustment | — |  |  | — |  |  | — |  |  | (4.9 | ) |  | — |  |  | (4.9 | )
Net cash activity and other | (77.8 | ) |  | (32.5 | ) |  | (45.3 | ) |  | (76.5 | ) |  | (45.0 | ) |  | (31.5 | )
Balance as of December 31 | $ | 877.2 |  |  | $ | 368.7 |  |  | $ | 508.5 |  |  | $ | 954.3 |  |  | $ | 380.6 |  |  | $ | 573.7 |
Current portion | 77.1 |  |  | 64.7 |  |  |  |  | 76.8 |  |  | 66.0 |  |  |
Noncurrent portion | 800.1 |  |  | 304.0 |  |  |  |  | 877.5 |  |  | 314.6 |  |  |
Rollforward of Environmental Liability and Related Assets Table | The following table provides a rollforward of the estimated current and long-term environmental liability for the years ended December 31, 2017 and 2016.
| 2017 |  |  | 2016 |
Balance as of January 1 | $ | 76.6 |  |  | $ | 82.6 |
Changes in estimates for pre-existing accruals(a) | 8.8 |  |  | 5.9 |
Net cash activity | (11.7 | ) |  | (11.9 | )
Foreign currency | 0.2 |  |  | — |
Balance as of December 31 | $ | 73.9 |  |  | $ | 76.6 |
(a) Changes in estimates for pre-existing accruals includes environmental-related costs of $3.7 and a reversal of prior accruals of $0.7 reported within results of discontinued operations for the years ended December 31, 2017 and 2016, respectively.
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.
| 2017 |  |  | 2016 |
High end range | $ | 126.3 |  |  | $ | 127.6 |
Number of active environmental investigation and remediation sites | 36 |  |  | 39 |

X
- Definition Net asbestos charges. + References No definition available. + Details
Name: | itt_NetAsbestosChargesTableTableTextBlock
Namespace Prefix: | itt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Range of liability and number of active sites for environmental matters. + References No definition available. + Details
Name: | itt_RangeOfLiabilityAndNumberOfActiveSitesForEnvironmentalMattersTableTableTextBlock
Namespace Prefix: | itt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Rollforward Of Environmental Liability And Related Assets Table [Table Text Block] + References No definition available. + Details
Name: | itt_RollforwardOfEnvironmentalLiabilityAndRelatedAssetsTableTableTextBlock
Namespace Prefix: | itt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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=82911808&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=82911808&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=82911808&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=82911808&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=82911808&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=82911808&loc=d3e14472-108349 + Details
Name: | us-gaap_ProductLiabilityContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date. + References Reference 1: 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=82911808&loc=d3e14472-108349 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82913245&loc=d3e12021-110248 Reference 3: 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=82911808&loc=d3e14453-108349 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82913245&loc=d3e12053-110248 Reference 5: 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=82911808&loc=d3e14394-108349 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=82911808&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 1 -URI http://asc.fasb.org/extlink&oid=82911808&loc=d3e14326-108349 Reference 8: 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=82911808&loc=d3e14557-108349 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=82911808&loc=d3e14615-108349 + Details
Name: | us-gaap_ScheduleOfLossContingenciesByContingencyTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration