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OTHER COMMITMENTS AND CONTINGENCIES | 12 Months Ended
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Dec. 31, 2014
OTHER COMMITMENTS AND CONTINGENCIES |
OTHER COMMITMENTS AND CONTINGENCIES | U. OTHER COMMITMENTS AND CONTINGENCIES Litigation. We are subject to claims, charges, litigation and other proceedings in the ordinary course of our business, including those arising from or related to contractual matters, intellectual property, personal injury, environmental matters, product liability, product recalls, construction defect, insurance coverage, personnel and employment disputes, anti-trust issues and other matters, including class actions. We believe we have adequate defenses in these matters and that the likelihood that the outcome of these matters would have a material adverse effect on us is remote. However, there is no assurance that we will prevail in these matters, and we could in the future incur judgments, enter into settlements of claims or revise our expectations regarding the outcome of these matters, which could materially impact our results of operations. Warranty. Changes in our warranty liability were as follows, in millions:
|  | 2014 |  | 2013 |
Balance at January 1 |  | $ | 124 |  | $ | 118 |
Accruals for warranties issued during the year |  |  | 51 |  |  | 42 |
Accruals related to pre-existing warranties |  |  | 11 |  |  | 6 |
Settlements made (in cash or kind) during the year |  |  | (46 | ) |  | (42 | )
Other, net (including currency translation) |  |  | (5 | ) |  | — |
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Balance at December 31 |  | $ | 135 |  | $ | 124 |
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Accruals related to pre-existing warranties increased $5 million in the fourth quarter of 2014 resulting from the adjustment of expected costs to service anticipated claims in prior periods, attributable to one business in the Other Specialty Products segment. Investments. With respect to our investments in private equity funds, we had, at December 31, 2014, commitments to contribute up to $9 million of additional capital to such funds representing our aggregate capital commitment to such funds less capital contributions made to date. We are contractually obligated to make additional capital contributions to certain of our private equity funds upon receipt of a capital call from the private equity fund. We have no control over when or if the capital calls will occur. Capital calls are funded in cash and generally result in an increase in the carrying value of our investment in the private equity fund when paid. Other Matters. We enter into contracts, which include reasonable and customary indemnifications that are standard for the industries in which we operate. Such indemnifications include customer claims against builders for issues relating to our products and workmanship. In conjunction with divestitures and other transactions, we occasionally provide reasonable and customary indemnifications relating to various items including: the enforceability of trademarks; legal and environmental issues; provisions for sales returns; and asset valuations. We have never had to pay a material amount related to these indemnifications and we evaluate the probability that amounts may be incurred and appropriately record an estimated liability when probable.

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