ENVIRONMENTAL REMEDITATION LIABILITIES

3 Months Ended

Mar. 31, 2017

Environmental Remediation Obligations [Abstract]

ENVIRONMENTAL REMEDITATION LIABILITIES

NOTE 12 – ENVIRONMENTAL REMEDITATION LIABILITIES

We record a liability for environmental remediation when such liability becomes probable and the costs or damages can be reasonably estimated. We accrue environmental remediation costs, on an undiscounted basis, associated with identified sites where an assessment has indicated that cleanup costs are probable and can be reasonably estimated, but the timing of such payments is not fixed and determinable. Such accruals are based on currently available information, estimated timing of remedial actions, existing technology, and enacted laws and regulations. The liability for environmental remediation is included in the Condensed Consolidated Balance Sheets in current liabilities within Accrued liabilities and in noncurrent liabilities within Other liabilities.

At March 31, 2017 and December 31, 2016, the total environmental remediation liabilities recorded were $31.4 million and $30.9 million of which $2.6 million and $2.4 million were presented in Accrued liabilities in the Condensed Consolidated Balance Sheets, respectively. We project costs over approximately 30 years.