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COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended
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Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract] |
Product Liability Contingencies [Table Text Block] | As of March 31, 2020, 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 | 1 |
Settlements | — |
Dismissals | (1 | )
Pending claims – Ending | 24 |
Roll Forward of Asbestos Liability and Related Assets | he following table provides a rollforward of the estimated asbestos liability and related assets for the three months ended March 31, 2020 and 2019.
| 2020 |  | 2019
For the Three Months Ended March 31 | Liability |  | Asset |  | Net |  | Liability |  | Asset |  | Net
Beginning balance | $ | 817.6 |  |  | $ | 386.8 |  |  | $ | 430.8 |  |  | $ | 849.3 |  |  | $ | 376.7 |  |  | $ | 472.6 |
Asbestos provision(a) | 14.5 |  |  | 2.7 |  |  | 11.8 |  |  | 15.7 |  |  | 3.1 |  |  | 12.6 |
Insurance settlement agreement | — |  |  | 52.5 |  |  | (52.5 | ) |  | — |  |  | — |  |  | — |
Net cash activity(a) | (27.3 | ) |  | (21.2 | ) |  | (6.1 | ) |  | (20.1 | ) |  | (10.2 | ) |  | (9.9 | )
Ending balance | $ | 804.8 |  |  | $ | 420.8 |  |  | $ | 384.0 |  |  | $ | 844.9 |  |  | $ | 369.6 |  |  | $ | 475.3 |
Current portion | $ | 86.3 |  |  | $ | 67.2 |  |  |  |  | $ | 73.5 |  |  | $ | 67.1 |  |  |
Noncurrent portion | $ | 718.5 |  |  | $ | 353.6 |  |  |  |  |  | $ | 771.4 |  |  | $ | 302.5 |  |  |
(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 three months ended March 31, 2020 and 2019.
For the Three Months Ended March 31 | 2020 |  | 2019
Environmental liability - beginning balance | $ | 61.9 |  |  | $ | 66.8 |
Change in estimates for pre-existing accruals: |  |  |
Continuing operations | — |  |  | (0.1 | )
Discontinued operations | (1.6 | ) |  | — |
Payments | (1.6 | ) |  | (2.6 | )
Foreign currency | (0.2 | ) |  | (0.1 | )
Environmental liability - ending balance | $ | 58.5 |  |  | $ | 64.0 |

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