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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract] |
Impacts from Divestiture of Intelco | The following table summarizes the impacts that resulted from the divestiture of InTelCo.
Cash and cash equivalents | $ | (398.0) |  |  |
Current asbestos-related assets | (91.0) |  |  |
Long-term asbestos-related assets | (310.4) |  |  |
Accrued liabilities | 91.2 |  |  |
Long-term asbestos-related liabilities | 797.0 |  |  |
Gain on divestiture of legacy asbestos-related assets and liabilities before income tax | $ | 88.8 |  |  |
Less: income tax expense | 116.9 |  |  |
Loss on divestiture of legacy asbestos-related assets and liabilities, net of tax | $ | (28.1) |  |  |
Summary of Net Asbestos Charges | The table below summarizes the total net asbestos-related (benefit) costs for the years ended December 31, 2021, 2020 and 2019.
| 2021 |  | 2020 |  | 2019
Asbestos provision, net(a) | $ | 14.4 |  |  | $ | 30.8 |  |  | $ | 47.9 |
Gain on divestiture before income tax | (88.8) |  |  | — |  |  | — |
Asbestos remeasurement, net(b) | — |  |  | 135.9 |  |  | (68.1) |
Settlement agreements and other | — |  |  | (100.4) |  |  | — |
Asbestos-related (benefit) costs, net | $ | (74.4) |  |  | $ | 66.3 |  |  | $ | (20.2) |
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, 2021 and 2020.
| 2021 |  | 2020
| Liability |  | Asset |  | Net |  | Liability |  | Asset |  | Net
Balance as of January 1 | $ | 932.0 |  |  | $ | 444.7 |  |  | $ | 487.3 |  |  | $ | 817.6 |  |  | $ | 386.8 |  |  | $ | 430.8 |
Asbestos provision(a) | 13.4 |  |  | (1.0) |  |  | 14.4 |  |  | 37.1 |  |  | 6.3 |  |  | 30.8 |
Asbestos remeasurement(b) | — |  |  | — |  |  | — |  |  | 155.7 |  |  | 19.8 |  |  | 135.9 |
Settlement agreements | — |  |  | — |  |  | — |  |  | — |  |  | 100.4 |  |  | (100.4) |
Net cash activity and other(a) | (57.2) |  |  | (42.3) |  |  | (14.9) |  |  | (78.4) |  |  | (68.6) |  |  | (9.8) |
Divestiture of legacy asbestos-related assets and liabilities | (888.2) |  |  | (401.4) |  |  | (486.8) |  |  |  |  |  |  |
Balance as of December 31 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 932.0 |  |  | $ | 444.7 |  |  | $ | 487.3 |
Current portion | — |  |  | — |  |  |  |  | 91.4 |  |  | 91.0 |  |  |
Noncurrent portion | — |  |  | — |  |  |  |  | 840.6 |  |  | 353.7 |  |  |
(a)2021 includes costs related to the divestiture of InTelCo as well as certain administrative costs such as legal-related costs for insurance asset recoveries. 2020 included amounts to maintain a rolling 10-year provision prior to the transition in 2020 to full horizon. (b)In 2020, we extended our projection to include pending claims and claims expected to be filed through 2052, which reflected the full time period over which we expected asbestos-related claims to be filed against InTelCo.
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, 2021 and 2020.
| 2021 |  | 2020
Balance as of January 1 | $ | 58.3 |  |  | $ | 61.9 |
Changes in estimates for pre-existing accruals: |  |  |
Continuing operations | 1.8 |  |  | 1.4 |
Discontinued operations | — |  |  | (1.5) |
Accruals added during the period for new matters | 1.8 |  |  | — |
Net cash activity | (7.6) |  |  | (3.7) |
Foreign currency | (0.2) |  |  | 0.2 |
Balance as of December 31 | $ | 54.1 |  |  | $ | 58.3 |
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.
| 2021 |  | 2020
High end range | $ | 93.8 |  |  | $ | 97.6 |
Number of active environmental investigation and remediation sites | 26 |  |  | 27 |

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