Environmental Costs

12 Months Ended

Dec. 31, 2014

ENVIRONMENTAL COSTS [Abstract]

Environmental Costs

ENVIRONMENTAL COSTS

The following table displays the activity and balances associated with accruals related to environmental costs included in other accruals and payables and other long-term liabilities:

	2014			2013
In thousands
Balance at January 1	$	11,531		$	12,818
Additions to accrual	1,865			698
Payments	(2,465		)	(1,984		)
Other	(307		)	—
Changes in foreign currency exchange rates	(26		)	(1		)
Balance at December 31	$	10,598		$	11,531

Bloomfield

In August 2008, the Company completed its purchase of the portion of the Bloomfield campus that Kaman Aerospace Corporation had leased from NAVAIR for many years. In connection with the purchase, the Company has assumed responsibility for environmental remediation at the facility as may be required under the Connecticut Transfer Act (the “Transfer Act”) and it continues the effort to define the scope of the remediation that will be required by the Connecticut Department of Environmental Protection (“CTDEP”). The transaction was recorded by taking the undiscounted estimated remediation liability of $20.8 million and discounting it at a rate of 8% to its present value.  The fair value of the Navy Property asset, which at that time approximated the discounted present value of the assumed environmental liability of $10.3 million, is included in Property, plant and equipment, net. This remediation process will take many years to complete.

10. ENVIRONMENTAL COSTS (CONTINUED)

The following represents estimated future payments for the undiscounted environmental remediation liability related to the Bloomfield campus as of December 31, 2014:

In thousands
2015	$	1,839
2016	902
2017	1,003
2018	403
2019	451
Thereafter	5,359
Total	$	9,957

Other

During 2014, the Company sold its former manufacturing facility in Moosup, Connecticut to TD Development, LLC. In connection with the sale, the Company will contribute $4.0 million in cash to an escrow account over a four-year period to fund environmental remediation work that is expected to be performed on the site. The Company currently has $3.2 million accrued representing the unpaid portion of this contribution payable to TD Development.

The Company's environmental accrual also includes estimated environmental remediation costs that the Company expects to incur at the former Music segment’s New Hartford, CT facility and the Aerospace segment’s U.K. Composites facilities. The Company continues to assess the work that may be required at each of these facilities, which may result in a change to this accrual.

For further discussion of these matters, see Note 16, Commitments and Contingencies.