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Warranties (Tables)
 6 Months Ended
Jun. 30, 2024
Product Warranties Disclosures [Abstract]  
Schedule of Changes in Warranty Liabilities and Unearned Extended Warranty Premiums Changes in the Company’s service-type warranties were as follows (in millions):

 

 

Six Months Ended
June 30,

 

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

85.4

 

 

$

76.1

 

Deferred revenue for new service warranties

 

 

20.8

 

 

 

18.2

 

Amortization of deferred revenue

 

 

(14.9

)

 

 

(13.0

)

Foreign currency translation

 

 

(0.3

)

 

 

0.1

 

Balance at end of period

 

$

91.0

 

 

$

81.4

 

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

 

 

Six Months Ended
June 30,

 

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

64.2

 

 

$

58.8

 

Warranty provisions

 

 

32.4

 

 

 

28.0

 

Settlements made

 

 

(27.9

)

 

 

(24.3

)

Changes in liability for pre-existing warranties, net

 

 

0.4

 

 

 

(1.9

)

Foreign currency translation

 

 

(0.1

)

 

 

—

 

Disposition of business

 

 

—

 

 

 

(0.5

)

Acquisition of business

 

 

—

 

 

 

0.2

 

Balance at end of period

 

$

69.0

 

 

$

60.3