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COMMITMENTS AND CONTINGENCIES Roll Forward of Asbestos Liability and Related Assets (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019
Net Asbestos Liability Rollforward [Line Items] |  |  |  |  |  |  |  |  |
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning |  |  |  |  | $ (430.8) |  | $ (472.6) |  |
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period |  | $ 5.5 |  | $ 11.9 | 29.1 | [1] | 36.3 | [1] |
Gain From Asbestos Insurance Settlement Agreement |  | 0.0 |  | 0.0 | (48.3) |  | 0.0 |  |
Cash Payments | [1] |  |  |  | (8.9) |  | (20.1) |  |
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending |  | (538.6) |  | (420.7) | (538.6) |  | (420.7) |  |
Asbestos-related liabilities Current |  | 91.3 |  | 86.2 | 91.3 |  | 86.2 |  | $ 86.0
Asbestos-related liabilities Non-Current |  | 856.7 |  | 741.6 | 856.7 |  | 741.6 |  | 731.6
Asbestos-related assets Current |  | 91.0 | [2] | 77.1 | 91.0 | [2] | 77.1 |  | 67.2
Asbestos-related assets Non-Current |  | 318.4 |  | 330.0 | 318.4 |  | 330.0 |  | $ 319.6
Asbestos Remeasurement Charge |  | (135.9) |  | 68.1 | (135.9) | [3] | 68.1 | [3] |
Liability [Member] |  |  |  |  |  |  |  |  |
Net Asbestos Liability Rollforward [Line Items] |  |  |  |  |  |  |  |  |
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning |  |  |  |  | (817.6) |  | (849.3) |  |
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period |  |  |  |  | 35.4 |  | 45.1 |  |
Gain From Asbestos Insurance Settlement Agreement |  |  |  |  | 0.0 |  | 0.0 |  |
Cash Payments |  |  |  |  | (60.7) |  | (62.1) |  |
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending |  | (948.0) |  | (827.8) | (948.0) |  | (827.8) |  |
Asbestos Remeasurement Charge |  |  |  |  | (155.7) |  | 4.5 |  |
Assets [Member] |  |  |  |  |  |  |  |  |
Net Asbestos Liability Rollforward [Line Items] |  |  |  |  |  |  |  |  |
Asbestos Liability And Related Assets Net Current And Noncurrent - Beginning |  |  |  |  | 386.8 |  | 376.7 |  |
Asbestos Related Costs, Provision to Maintain 10-Year Forecast Period |  |  |  |  | (6.3) |  | (8.8) |  |
Gain From Asbestos Insurance Settlement Agreement |  |  |  |  | (48.3) |  | 0.0 |  |
Cash Payments |  |  |  |  | 51.8 |  | 42.0 |  |
Asbestos Liability And Related Assets Net Current And Noncurrent - Ending |  | $ 409.4 |  | $ 407.1 | 409.4 |  | 407.1 |  |
Asbestos Remeasurement Charge |  |  |  |  | $ 19.8 |  | $ 63.6 |  |
[1] | Includes certain administrative costs such as legal-related costs for insurance asset recoveries. The asbestos provision includes amounts to maintain a rolling 10-year provision prior to the transition in the third quarter of 2020 to a full horizon.
[2] | The increase in asbestos-related assets as of September 30, 2020 primarily relates to a June 2020 settlement agreement with an insurer accelerating payments previously included in a buyout agreement. Refer to Note 19, Commitments and Contingencies, for further information.
[3] | In the third quarter of 2020, we extended our projection to include pending claims and claims expected to be filed through 2052, reflecting the full time period over which we expect asbestos-related claims to be filed against us

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- Definition Asbestos Liability and Related Assets Net Current and Noncurrent + References No definition available. + Details
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- Definition Asbestos-related assets include both the probable insurance recoveries for the asbestos liabilities for pending claims, as well as unasserted claims to be filed over the next 10 years. + References No definition available. + Details
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- Definition In addition to the charges associated with our annual measurement, we record a net asbestos charge each quarter to maintain a rolling 10-year forecast period. + References No definition available. + Details
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- Definition During 2013, ITT executed a final settlement agreement (the 2013 Settlement) with an insurer to settle responsibility for multiple categories of insured claims, including pending and future product liability claims. Under the terms of the 2013 Settlement, the insurer agreed to a specified series of payments over the course of the next five years, resulting in a one-time benefit of $31.0. + References No definition available. + Details
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- Definition Asbestos related liability current. + References No definition available. + Details
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- Definition The payments made in the period which reduced asbestos loss contingency reserves, net of associated insurance reimbursements. + References No definition available. + Details
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- Definition Amount of loss contingency liability expected to be resolved after one year or beyond the normal operating cycle, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14326-108349 + Details
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