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COMMITMENTS AND CONTINGENCIES (Tables)
 3 Months Ended
Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Product Liability Contingencies [Table Text Block]
As of March 31, 2018, there were approximately 25 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:
For the Three Months Ended March 31 (in thousands)
2018
Pending claims – Beginning
26

New claims
1

Settlements
—

Dismissals
(2
)
Pending claims – Ending
25
Roll Forward of Asbestos Liability and Related Assets
The following table provides a rollforward of the estimated asbestos liability and related assets for the three months ended March 31, 2018 and 2017.
 
2018
 
2017
For the Three Months Ended March 31
Liability
 
Asset
 
Net
 
Liability
 
Asset
 
Net
Beginning balance
$
877.2


$
368.7


$
508.5

 
$
954.3

 
$
380.6

 
$
573.7

Asbestos provision
15.3


2.9


12.4

 
17.4

 
2.5

 
14.9

Insurance settlement agreements
—

 
32.1

 
(32.1
)
 
—

 
—

 
—

Net cash activity
(22.2
)

(9.4
)

(12.8
)
 
(28.8
)
 
(15.8
)
 
(13.0
)
Ending balance
$
870.3


$
394.3


$
476.0

 
$
942.9

 
$
367.3

 
$
575.6

Current portion
$
77.4


$
64.7



 
$
76.3

 
$
66.0

 
 
Noncurrent portion
$
792.9


$
329.6




 
$
866.6

 
$
301.3

 
 
Rollforward of Environmental Liability and Related Assets
The following table provides a rollforward of the estimated environmental liability for the three months ended March 31, 2018 and 2017. 
For the Three Months Ended March 31
2018
 
2017
Environmental liability - beginning balance
$
73.9

 
$
76.6

Change in estimates for pre-existing accruals
2.6

 
(0.7
)
Accruals added during the period for new matters
2.0

 
—

Net cash activity
(10.0
)
 
(3.4
)
Environmental liability - ending balance
$
68.5

 
$
72.5