Litigation (Tables)

9 Months Ended

Sep. 30, 2020

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Schedule of Loss Contingencies by Contingency

The following table reflects approximate information about the claims for Asbestos Liability against Air & Liquid and the Corporation for the nine months ended September 30, 2020, and 2019 (claims not in thousands):

	Nine Months Ended September 30,
	2020			2019
Total claims pending at the beginning of the period		6,102			6,772
New claims served		769			1,014
Claims dismissed		(725	)		(803	)
Claims settled (1)		(278	)		(282	)
Total claims pending at the end of the period (2)		5,868			6,701
Gross settlement and defense costs paid in period (in 000’s) (3)	$	21,699		$	14,969
Avg. gross settlement and defense costs per claim    resolved (in 000’s) (2)	$	21.63		$	13.80

(1) Claims settled during the relevant period are not necessarily paid in the same period.

(2) Included as “open claims” are 711 and 729 claims in 2020 and 2019, respectively, classified in various jurisdictions as “inactive” or transferred to a state or federal judicial panel on multi-district litigation, commonly referred to as the MDL.

(3) Increase in settlement and defense costs paid in the first nine months of 2020 over prior period is principally due to a high volume of settlement costs paid in current period but settled in prior periods and increase in defense cost invoices received in current period but incurred in prior periods.

Summary of Activity in Asbestos Insurance Recoveries

The following table summarizes activity relating to insurance recoveries for the nine months ended September 30, 2020, and 2019.

	Nine Months Ended September 30,
	2020			2019
Insurance receivable – asbestos, beginning of the year	$	136,932		$	152,508
Settlement and defense costs paid by insurance carriers		(15,348	)		(11,476	)
Insurance receivable – asbestos, end of the period	$	121,584		$	141,032