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Commitments and Contingencies (Tables) | 3 Months Ended
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Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Liability For Unpaid Claims And Claims Adjustment Expense | The following table summarizes the change in number of asbestos claims outstanding for the three months ended March 31, 2024:
| Asbestos Claims
Claims outstanding as of January 1, 2024 | 506 |
New claims filed | 35 |
Pending claims concluded(1) | (36) |
Claims outstanding as of March 31, 2024 | 505 |
(1) For the three months ended March 31, 2024, 32 claims were dismissed and 4 claims were settled. Settlements totaled approximately $1.5 million for the three months ended March 31, 2024.
Schedule of Asbestos-Related Claims and Insurance Receivables | Our projected asbestos-related liabilities and insurance receivables were as follows:
(Dollars in millions) | March 31, 2024 |  | December 31, 2023
Asbestos-related liabilities | $ | 61.5 |  |  | $ | 61.5 |
Asbestos-related insurance receivables | $ | 56.5 |  |  | $ | 56.5 |

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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480081/944-40-50-3 + Details
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- Definition Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 450 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483076/450-20-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 450 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483076/450-20-50-4 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 450 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483076/450-20-50-9 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482425/460-10-50-3 + Details
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