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Warranties (Tables)

6 Months Ended

Jun. 30, 2023

Product Warranties Disclosures [Abstract]

Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums

Changes in the Company’s service-type warranties were as follows (in millions):

		Six Months Ended June 30,
		2023				2022
Balance at beginning of period		$	76.1			$	66.9
Deferred revenue for new service warranties			18.2				14.8
Amortization of deferred revenue			(13.0	)			(10.6	)
Foreign currency translation			0.1				(0.5	)
Balance at end of period		$	81.4			$	70.6

Changes in the Company’s assurance-type warranty liability were as follows (in millions):

		Six Months Ended June 30,
		2023				2022
Balance at beginning of period		$	58.8			$	65.7
Warranty provisions			28.0				24.9
Settlements made			(24.3	)			(29.8	)
Changes in liability for pre-existing warranties, net			(1.9	)			0.3
Disposition of business			(0.5	)			(0.3	)
Acquisition of business			0.2				0.2
Balance at end of period		$	60.3			$	61.0

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- References

No definition available.

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- Definition

Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482425/460-10-50-8

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