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Product Warranties

12 Months Ended

Mar. 31, 2022

Guarantees [Abstract]

Product Warranties

Product Warranties

The Company offers various warranties on its products, including a 30-year limited warranty on certain fiber cement siding products in the United States. A typical warranty program requires the Company to replace defective products within a specified time period from the date of sale. It is possible that future warranty costs could differ from those estimates.

The following are the changes in the product warranty provision:

			31 March
(Millions of US dollars)			2022						2021						2020
Balance at beginning of period			$	39.6					$	42.4					$	46.6
Increase in accrual			1.9						2.4						0.8
Settlements made in cash or in kind			(3.8)						(5.2)						(5.0)
Balance at end of period			$	37.7					$	39.6					$	42.4

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- References

No definition available.

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- Definition

The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-URI http://asc.fasb.org/topic&trid=2155896

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