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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract] |
Activity Related to Asbestos Claims | As of December 31, 2019, there were 24 thousand pending active claims against our 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:
(in thousands) | 2019 |  |  | 2018 |  |  | 2017 |
Pending claims – Beginning | 24 |  |  | 26 |  |  | 30 |
New claims | 4 |  |  | 4 |  |  | 4 |
Settlements | (1 | ) |  | (1 | ) |  | (2 | )
Dismissals | (3 | ) |  | (5 | ) |  | (6 | )
Pending claims – Ending | 24 |  |  | 24 |  |  | 26 |
Summary of Net Asbestos Charges | The table below summarizes the total net asbestos-related charge for the years ended December 31, 2019, 2018 and 2017.
| 2019 |  |  | 2018 |  |  | 2017 |
Asbestos provision, net(a) | $ | 47.9 |  |  | $ | 53.8 |  |  | $ | 56.5 |
Asbestos remeasurement, net | (68.1 | ) |  | 10.0 |  |  | (76.4 | )
Settlement agreements and other | — |  |  | (58.9 | ) |  | — |
Asbestos-related (benefit) cost, net | $ | (20.2 | ) |  | $ | 4.9 |  |  | $ | (19.9 | )
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, 2019 and 2018.
| 2019 |  | 2018
| Liability |  |  | Asset |  |  | Net |  |  | Liability |  |  | Asset |  |  | Net |
Balance as of January 1 | $ | 849.3 |  |  | $ | 376.7 |  |  | $ | 472.6 |  |  | $ | 877.2 |  |  | $ | 368.7 |  |  | $ | 508.5 |
Asbestos provision(a) | 59.4 |  |  | 11.5 |  |  | 47.9 |  |  | 66.1 |  |  | 12.3 |  |  | 53.8 |
Asbestos remeasurement | (4.5 | ) |  | 63.6 |  |  | (68.1 | ) |  | (5.8 | ) |  | (15.8 | ) |  | 10.0 |
Settlement agreements | — |  |  | — |  |  | — |  |  | — |  |  | 58.9 |  |  | (58.9 | )
Net cash activity and other(a) | (86.6 | ) |  | (65.0 | ) |  | (21.6 | ) |  | (88.2 | ) |  | (47.4 | ) |  | (40.8 | )
Balance as of December 31 | $ | 817.6 |  |  | $ | 386.8 |  |  | 430.8 |  |  | $ | 849.3 |  |  | $ | 376.7 |  |  | $ | 472.6 |
Current portion | 86.0 |  |  | 67.2 |  |  |  |  | 74.2 |  |  | 67.1 |  |  |
Noncurrent portion | 731.6 |  |  | 319.6 |  |  |  |  | 775.1 |  |  | 309.6 |  |  |
(a) Includes certain administrative costs such as legal-related costs for insurance asset recoveries.
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, 2019 and 2018.
| 2019 |  |  | 2018 |
Balance as of January 1 | $ | 66.8 |  |  | $ | 73.9 |
Changes in estimates for pre-existing accruals | 0.5 |  |  | 6.6 |
Accruals added during the period for new matters | — |  |  | 2.0 |
Net cash activity(a) | (5.4 | ) |  | (15.8 | )
Foreign currency | — |  |  | 0.1 |
Balance as of December 31 | $ | 61.9 |  |  | $ | 66.8 |
(a) Includes cash payments for the year ended December 31, 2018 of $10.2, related to the sale of a former operating location.
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.
| 2019 |  |  | 2018 |
High end range | $ | 108.4 |  |  | $ | 115.9 |
Number of active environmental investigation and remediation sites | 28 |  |  | 31 |

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