Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Summary of Net Asbestos Charges

The table below summarizes our total net asbestos-related (benefit) costs.

For the Year Ended December 31	2023		2022		2021
Asbestos provision, net(a)	$	—	$	—	$	14.4
Gain on divestiture before income tax	—		—		(88.8)
Asbestos-related (benefit) costs, net	$	—	$	—	$	(74.4)

(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.

Rollforward of Environmental Liability and Related Assets Table

The following table provides a rollforward of the estimated current and long-term environmental liability.

	2023		2022
Balance as of January 1	$	57.1	$	54.1
Changes in estimates for pre-existing accruals:
Continuing operations	2.6		1.7
Discontinued operations(a)	—		5.4
Accruals added during the period for new matters	—		0.1
Cash payments	(3.9)		(4.0)
Foreign currency	0.2		(0.2)
Balance as of December 31	$	56.0	$	57.1

(a)During 2022, we increased the estimated environmental liability for a former site of ITT by $5.4 and recognized an insurance-related asset of $4.3. The resulting net pre-tax expense of $1.1 has been presented as a loss from discontinued operations within our Consolidated Statements of Operations.

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.

As of December 31	2023		2022
High-end estimate of environmental liability	$	98.2	$	93.5
Number of open environmental sites	26		28