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COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended
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Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract] |
Product Liability Contingencies [Table Text Block] | As of September 30, 2019, there were approximately 24 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:
Pending claims – Beginning | 24 |
New claims | 3 |
Settlements | (1 | )
Dismissals | (2 | )
Pending claims – Ending | 24 |
Net Asbestos Charges [Table Text Block] | The table below summarizes the total net asbestos charges for the three and nine months ended September 30, 2019 and 2018.
| Three Months |  | Nine Months
For the Periods Ended September 30 | 2019 |  | 2018 |  | 2019 |  | 2018
Asbestos provision | $ | 11.9 |  |  | $ | 13.4 |  |  | $ | 36.3 |  |  | $ | 39.3 |
Net asbestos remeasurement (benefit) cost | (68.1 | ) |  | 7.2 |  |  | (68.1 | ) |  | 7.2 |
Insurance settlement agreements(a) | — |  |  | (24.9 | ) |  | — |  |  | (57.0 | )
Asbestos-related benefit, net | $ | (56.2 | ) |  | $ | (4.3 | ) |  | $ | (31.8 | ) |  | $ | (10.5 | )
(a) During 2018, we entered into a settlement agreement and a settlement-in-principle with insurers to settle responsibility for multiple insurance claims. Under the terms of the agreements, the insurers agreed to upfront payments to a Qualified Settlement Fund for past costs in addition to providing coverage for certain future asbestos claims on specified terms and conditions.
Roll Forward of Asbestos Liability and Related Assets | he following table provides a rollforward of the estimated asbestos liability and related assets for the nine months ended September 30, 2019 and 2018.
| 2019 |  | 2018
For the Nine Months Ended September 30 | Liability |  | Asset |  | Net |  | Liability |  | Asset |  | Net
Beginning balance | $ | 849.3 |  |  | $ | 376.7 |  |  | $ | 472.6 |  |  | $ | 877.2 |  |  | $ | 368.7 |  |  | $ | 508.5 |
Asbestos provision(a) | 45.1 |  |  | 8.8 |  |  | 36.3 |  |  | 48.5 |  |  | 9.2 |  |  | 39.3 |
Asbestos remeasurement | (4.5 | ) |  | 63.6 |  |  | (68.1 | ) |  | (8.6 | ) |  | (15.8 | ) |  | 7.2 |
Insurance settlement agreement | — |  |  | — |  |  | — |  |  | — |  |  | 57.0 |  |  | (57.0 | )
Net cash activity(a) | (62.1 | ) |  | (42.0 | ) |  | (20.1 | ) |  | (72.0 | ) |  | (29.7 | ) |  | (42.3 | )
Ending balance | $ | 827.8 |  |  | $ | 407.1 |  |  | $ | 420.7 |  |  | $ | 845.1 |  |  | $ | 389.4 |  |  | $ | 455.7 |
Current portion | $ | 86.2 |  |  | $ | 77.1 |  |  |  |  | $ | 73.3 |  |  | $ | 67.1 |  |  |
Noncurrent portion | $ | 741.6 |  |  | $ | 330.0 |  |  |  |  |  | $ | 771.8 |  |  | $ | 322.3 |  |  |
(a) | Includes certain administrative costs such as legal-related costs for insurance asset recoveries.
Rollforward of Environmental Liability and Related Assets | The following table provides a rollforward of the estimated environmental liability for the nine months ended September 30, 2019 and 2018.
For the Nine Months Ended September 30 | 2019 |  | 2018
Environmental liability - beginning balance | $ | 66.8 |  |  | $ | 73.9 |
Change in estimates for pre-existing accruals | 0.2 |  |  | 3.4 |
Accruals added during the period for new matters | — |  |  | 2.0 |
Payments(a) | (4.4 | ) |  | (14.6 | )
Foreign currency | (0.2 | ) |  | 0.1 |
Environmental liability - ending balance | $ | 62.4 |  |  | $ | 64.8 |
(a) Includes cash payments of $9.7 for the nine months ended September 30, 2018 related to the sale of a former operating location.

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