Industrial giant Ingersoll-Rand announced that it has taken a fourth quarter noncash pretax charge of $449 million ($277 million after taxes) for pending and future asbestos claims brought against the company through the year 2053. The company continues to defend asbestos-related suits in federal and state court related to the manufacture of pumps and compressors that used asbestos-containing parts it purchased from suppliers. In the last 25 years, Ingersoll-Rand has resolved over 208,000 claims totaling $308 million, with over 100,000 claims still open at the end of 2007. According to the company, over 90% of those are non-malignancy claims, having little or no settlement value. In estimating future costs, the company took into account a decline in new nonmalignancy claims and an increased focus on mesothelioma claims.