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COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended
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Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract] |
Product Liability Contingencies Table | As of March 31, 2021, there were approximately 26 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:
Claims data presented in thousands |  |  |
Pending claims – Beginning | 25.3 |  |  |
New claims | 1.0 |  |  |
Settlements | (0.2) |  |  |
Dismissals | (0.5) |  |  |
Pending claims – Ending | 25.6 |  |  |
Roll Forward of Asbestos Liability and Related Assets Table | he following table provides a rollforward of the estimated asbestos liability and related assets for the three months ended March 31, 2021 and 2020.
| 2021 |  | 2020
For the Three Months Ended March 31 | Liability |  | Asset |  | Net |  | Liability |  | Asset |  | Net
Beginning balance | $ | 932.0 |  |  | $ | 444.7 |  |  | $ | 487.3 |  |  | $ | 817.6 |  |  | $ | 386.8 |  |  | $ | 430.8 |
Asbestos provision(a) | 1.4 |  |  | (1.0) |  |  | 2.4 |  |  | 14.5 |  |  | 2.7 |  |  | 11.8 |
Insurance settlement agreements | — |  |  | — |  |  | — |  |  | — |  |  | 52.5 |  |  | (52.5) |
Net cash activity(a) | (23.5) |  |  | (21.9) |  |  | (1.6) |  |  | (27.3) |  |  | (21.2) |  |  | (6.1) |
Ending balance | $ | 909.9 |  |  | $ | 421.8 |  |  | $ | 488.1 |  |  | $ | 804.8 |  |  | $ | 420.8 |  |  | $ | 384.0 |
Current portion | $ | 91.6 |  |  | $ | 91.0 |  |  |  |  | $ | 86.3 |  |  | $ | 67.2 |  |  |
Noncurrent portion | $ | 818.3 |  |  | $ | 330.8 |  |  |  |  | $ | 718.5 |  |  | $ | 353.6 |  |  |
(a)Includes certain administrative costs such as legal-related costs for insurance asset recoveries. The asbestos provision in the first quarter of 2020 includes amounts to maintain a rolling 10-year provision prior to the transition to a full horizon estimate.
Rollforward of Environmental Liability and Related Assets Table | The following table provides a rollforward of the estimated environmental liability for the three months ended March 31, 2021 and 2020.
For the Three Months Ended March 31 | 2021 |  | 2020
Environmental liability - beginning balance | $ | 58.3 |  |  | $ | 61.9 |
Change in estimates for pre-existing accruals: |  |  |
Continuing operations | (0.1) |  |  | — |
Discontinued operations | — |  |  | (1.6) |
Payments | (2.0) |  |  | (1.6) |
Foreign currency | (0.1) |  |  | (0.2) |
Environmental liability - ending balance | $ | 56.1 |  |  | $ | 58.5 |

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