Environmental Costs

12 Months Ended

Dec. 31, 2022

Environmental Remediation Obligations [Abstract]

Environmental Costs

ENVIRONMENTAL COSTS

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

	2022		2021
In thousands
Balance at January 1	$	5,958	$	6,049
Net additions to accrual	382		391
Payments	(504)		(482)
Balance at December 31	$	5,836	$	5,958

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 Energy and Environmental Protection (“CTDEEP”). 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.

The following represents estimated future payments for the undiscounted environmental remediation liability related to the Bloomfield campus as of December 31, 2022:

In thousands
2023	$	239
2024	387
2025	—
2026	132
2027	120
Thereafter	3,641
Total	$	4,519

Other

In 2014, the Company sold its former manufacturing facility in Moosup, Connecticut to TD Development, LLC ("TD"). Although TD assumed contractual and statutory responsibility for the environmental remediation work required on this site, the Company may be liable for the cost of the investigation, remediation and abatement if TD does not complete them. The Company is currently unable to estimate the total costs necessary for such environmental work. There can be no assurance that this matter would not have an adverse impact on our business, financial condition, results of operation and cash flows.

13. ENVIRONMENTAL COSTS (CONTINUED)

Other - continued

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. The Company continues to assess the work that may be required at this facility, which may result in a change to this accrual. For further discussion of these matters, see Note 19, Commitments and Contingencies.