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Product Warranty | 9 Months Ended
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Sep. 30, 2017
Product Warranties Disclosures [Abstract] |
Product Warranty | PRODUCT WARRANTY The warranty reserve activity for the three and nine months ended September 30, 2017 and 2016 consisted of the following (in millions):
| Three Months Ended September 30, |  |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  |  | 2017 |  | 2016
Balance at beginning of period | $ | 296.9 |  |  | $ | 240.6 |  |  |  | $ | 255.6 |  |  | $ | 230.3 |
Acquisitions | 2.1 |  |  | 3.1 |  |  |  | 2.1 |  |  | 3.7 |
Accruals for warranties issued during the period | 47.7 |  |  | 43.3 |  |  |  | 152.6 |  |  | 138.7 |
Settlements made (in cash or in kind) during the period | (49.3 | ) |  | (40.1 | ) |  |  | (127.4 | ) |  | (128.3 | )
Foreign currency translation | 6.2 |  |  | 2.0 |  |  |  | 20.7 |  |  | 4.5 |
Balance at September 30 | $ | 303.6 |  |  | $ | 248.9 |  |  |  | $ | 303.6 |  |  | $ | 248.9 |
The Company’s agricultural equipment products generally are warranted against defects in material and workmanship for a period of one to four years. The Company accrues for future warranty costs at the time of sale based on historical warranty experience. Approximately $267.4 million and $223.1 million of warranty reserves are included in “Accrued expenses” in the Company’s Condensed Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016, respectively. Approximately $36.2 million and $32.5 million of warranty reserves are included in “Other noncurrent liabilities” in the Company’s Condensed Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016, respectively.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -URI http://asc.fasb.org/topic&trid=2155896 + Details
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