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Warranties (Tables)
 9 Months Ended
Sep. 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):

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

85.4

 

 

$

76.1

 

Deferred revenue for new service warranties

 

 

31.9

 

 

 

27.7

 

Amortization of deferred revenue

 

 

(22.9

)

 

 

(19.8

)

Other adjustments

 

 

2.2

 

 

 

—

 

Foreign currency translation

 

 

(0.1

)

 

 

—

 

Balance at end of period

 

$

96.5

 

 

$

84.0

 

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

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

64.2

 

 

$

58.8

 

Warranty provisions

 

 

52.7

 

 

 

41.6

 

Settlements made

 

 

(43.5

)

 

 

(37.3

)

Changes in liability for pre-existing warranties, net

 

 

(3.3

)

 

 

(1.4

)

Foreign currency translation

 

 

0.1

 

 

 

(0.1

)

Disposition of businesses

 

 

—

 

 

 

(0.5

)

Acquisition of businesses

 

 

0.6

 

 

 

4.9

 

Balance at end of period

 

$

70.8

 

 

$

66.0