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Litigation (Tables) | 6 Months Ended
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Jun. 30, 2025
Loss Contingency [Abstract] |
Schedule of Loss Contingencies by Contingency | The following table reflects approximate information about the number of claims for Asbestos Liability against Air & Liquid and the Corporation for the six months ended June 30, 2025 and 2024 (number of claims not in thousands). The majority of the settlement and defense costs were reported and paid by insurance carriers. Because claims are often filed and can be settled or dismissed in large groups, the amount and timing of settlements, as well as the number of open claims, can fluctuate significantly from period to period.
|  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |
Total claims pending at the beginning of the period |  |  | 6,363 |  |  |  | 6,310 |
New claims served |  |  | 636 |  |  |  | 636 |
Claims dismissed |  |  | (556 | ) |  |  | (400 | )
Claims settled |  |  | (271 | ) |  |  | (298 | )
Total claims pending at the end of period (1) |  |  | 6,172 |  |  |  | 6,248 |
Administrative closures (2) |  |  | (3,022 | ) |  |  | (3,155 | )
Total active claims at the end of the period |  |  | 3,150 |  |  |  | 3,093 |
Gross settlement and defense costs paid in period (in 000’s) |  | $ | 13,128 |  |  | $ | 11,843 |
Average gross settlement and defense costs per claim resolved (in 000’s) (3) |  | $ | 15.87 |  |  | $ | 16.97 |
(1) Included as “total claims pending” are approximately 1,637 and 1,641 claims at June 30, 2025 and 2024, respectively, classified in various jurisdictions as “inactive” or transferred to a state or federal judicial panel on multi-district litigation. (2) Administrative closures include (i) mesothelioma claims filed five or more years ago; (ii) non-mesothelioma claims filed six or more years ago; (iii) claims previously classified in various jurisdictions as “inactive;” and (iv) claims transferred to a state or federal judicial panel on multi-district litigation. (3) Claims resolved do not include claims administratively close d.
Summary of Activity Relating to Asbestos Liability | The following table summarizes activity relating to Asbestos Liability for the six months ended June 30, 2025 and 2024.
|  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |
Asbestos liability, beginning of the year |  | $ | 207,092 |  |  | $ | 238,679 |
Settlement and defense costs paid |  |  | (13,128 | ) |  |  | (11,843 | )
Asbestos liability, end of the period |  | $ | 193,964 |  |  | $ | 226,836 |
Summary of Activity in Asbestos Insurance Recoveries | The following table summarizes activity relating to insurance recoveries for the six months ended June 30, 2025 and 2024 including the 2024 $1,756 reimbursement of prior years' costs.
|  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |
Insurance receivable – asbestos, beginning of the year |  | $ | 139,295 |  |  | $ | 160,245 |
Settlement and defense costs paid by insurance carriers |  |  | (9,152 | ) |  |  | (9,195 | )
Insurance receivable – asbestos, end of the period |  | $ | 130,143 |  |  | $ | 151,050 |

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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 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-9 Reference 2: 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 3: 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 4: 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 5: 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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