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Asbestos Trust Annual Reports

Every asbestos bankruptcy trust files an annual report with the court that created it: its audited financial statements, the claims it received and paid, and the payment percentage it paid them at. Here are 803 of those reports from 63 trusts, 2003 to 2025, each with a plain-English summary of the year. 60 trusts have filed their 2025 report so far. Each trust’s page has every year we hold, a chart of its net assets, claims paid and payment percentage over time, and the reports themselves to read or download.

The 2025 digest: every trust’s 2025 summary and chart in one PDF, with a link to each full report. Download the 2025 digest (PDF)

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What the 2025 reports show

The 56 trusts whose 2025 reports give both figures held $15.64B in net assets for claimants at the end of 2025 and paid $1.34B on claims during the year. The largest were W.R. Grace ($1.83B), NARCO ($1.26B) and DII Industries ($1.15B). A trust’s net assets are what it holds to pay present and future claimants; its payment percentage is the share of each claim’s value it pays, set so that people who file later are paid on the same terms.

Fiscal 2025 at a glance

Largest first. Every figure is printed in the trust’s 2025 report (or, where its page notes it, the next one). The payment percentage is the one in force at the end of the year; trusts change them, so for what a claim is paid today see current payment percentages.

Trust Net assets, end of 2025 Change from 2024 Claims paid in 2025 Payment percentage
W.R. Grace $1.83B — $191.6M 30.1%
NARCO $1.26B −$3.4M (−0.3%) $76.2M 100.0%
DII Industries $1.15B −$27.8M (−2.4%) $118.8M 60.0%
Pittsburgh Corning $1.14B +$32.5M (+2.9%) $88.8M 19.0%
United States Gypsum $830.2M +$13.6M (+1.7%) $62M 11.0%
Armstrong World Industries $659M −$8.5M (−1.3%) $69.4M 10.8%
ASARCO $625.8M −$33.6M (−5.1%) $72.1M 35.0%
Bondex $573.8M +$17.3M (+3.1%) $30.6M 29.5%
Manville $563.3M +$6.5M (+1.2%) $56.3M 5.1%
Owens-Illinois $550M +$12.6M (+2.3%) $32.3M 50.0%
Flintkote $520.2M +$5.1M (+1.0%) $37.8M 15.0%
Quigley $516.5M −$30.4M (−5.6%) $59.5M —
Owens Corning $474.4M −$6.2M (−1.3%) $40.9M 4.7%
Federal-Mogul $440.2M +$13.1M (+3.1%) — —
Combustion Engineering $385.2M −$36.3M (−8.6%) $39.4M 20.0%
Celotex $369.6M −$6.2M (−1.7%) $37.7M 7.0%
Garlock $357.6M −$28.1M (−7.3%) $49.6M —
Western Asbestos $355.8M −$15.8M (−4.3%) $37.7M 51.1%
Thorpe Insulation $338.8M −$4.1M (−1.2%) $23.8M 58.6%
Babcock & Wilcox $295.3M +$5.5M (+1.9%) $19.9M —
Kaiser Aluminum $284.8M +$8.5M (+3.1%) $16.2M 10.6%
Eagle-Picher $259.5M +$5.3M (+2.1%) $22.1M 35.0%
G-I Holdings (GAF) $254.7M −$10.1M (−3.8%) — 5.0%
T H Agriculture & Nutrition (THAN) $240.2M +$6.6M (+2.8%) $8.8M 15.0%
Yarway $213.3M −$5M (−2.3%) $22.2M 27.5%
National Gypsum $197.7M +$344K (+0.2%) $10.7M 45.0%
A.P. Green $186.4M +$7.4M (+4.1%) $11M 5.3%
Plant Insulation $148.8M −$4.6M (−3.0%) $14.2M 20.0%
Congoleum $148.1M +$1.8M (+1.3%) $8.7M 8.67%
General Motors $130.1M +$617K (+0.5%) $11.3M 10.3%
ACandS $123.3M −$842K (−0.7%) $10.7M 3.2%
J.T. Thorpe (California) $116.4M +$1.8M (+1.6%) $5.4M 50.0%
Fuller-Austin $104.1M −$5.8M (−5.3%) $12.5M 38.0%
Kentile Floors (Metex) $99.6M +$621K (+0.6%) $6.4M 7.25%
J.T. Thorpe Company (Texas) $85M +$4.7M (+5.8%) $2.9M 23.0%
Kaiser Gypsum $63.7M +$3.6M (+6.0%) $174K 55.2%
Leslie Controls $62M −$2M (−3.1%) $7M 6.25%
Plibrico $59.8M −$4M (−6.2%) $7.9M 0.94%
Duro Dyne $48.4M +$1.3M (+2.7%) $1.4M 20.0%
Porter Hayden $32.4M +$815K (+2.6%) $969K 4.0%
U.S. Mineral Products $29.1M — $2.6M 32.0%
Raytech $20.6M −$1.3M (−5.9%) $1.9M 1.35%
Sepco $19.3M +$245K (+1.3%) $831K 10.0%
Durabla $18.1M +$958K (+5.6%) $0 —
ARTRA $16.8M −$1.4M (−7.6%) $2.3M 0.7%
C.E. Thurston $16.6M −$699K (−4.1%) $1.2M 50.0%
Keene $16.4M −$604K (−3.6%) $1.2M 1.05%
Geo. V. Hamilton $15.7M +$209K (+1.3%) $532K 15.0%
ABB Lummus $15M +$88K (+0.6%) $444K 9.5%
H.K. Porter $13.3M −$4.1M (−23.7%) $3.7M 3.0%
United Gilsonite Laboratories $12.9M −$537K (−4.0%) $1M 3.35%
Christy Refractories $10.7M −$1.7M (−13.7%) $1.3M 55.0%
A-Best $8.4M +$38K (+0.5%) $385K 18.0%
API, Inc. $7.7M +$68K (+0.9%) $70K 22.0%
M.H. Detrick $5.5M +$55K (+1.0%) $0 —
Brauer Supply $5.5M −$193K (−3.4%) $133K 9.5%
Swan Transportation $4.8M −$613K (−11.3%) $1M 14.2%
Hercules Chemical $3.6M −$227K (−5.9%) $223K 2.0%
Wallace & Gale $598K +$63 (+0.0%) — 25.6%

A dash means the report doesn’t give that figure in a comparable form: some trusts report a deficit that counts estimated future claims instead of net assets, and some pay set values, or a different percentage from each of several funds, instead of one percentage. Each trust’s page explains its own.

Also filed for 2025: Utex.

Every trust’s annual reports

What an asbestos trust annual report contains

The reports follow the trust agreement the court approved, so they differ in detail, but most have the same parts: audited financial statements (net assets, investment income, claims paid and operating costs); the claims received, approved and paid during the year, often by disease; and the payment percentage, with any change made that year. They are filed in the trust’s bankruptcy case and are public court records. The summaries here are ours.

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This page is provided for general informational purposes and does not constitute legal advice. Every asbestos case turns on its own facts, exposure history, diagnosis, deadlines, available evidence, and applicable law. Reviewing this page does not create an attorney-client relationship. For advice about your specific situation, call 833-4-ASBESTOS for a free case review.