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Product Warranty | 3 Months Ended
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Mar. 31, 2018
Product Warranties Disclosures [Abstract] |
Product Warranty | PRODUCT WARRANTY The warranty reserve activity for the three months ended March 31, 2018 and 2017 consisted of the following (in millions):
| Three Months Ended March 31,
| 2018 |  | 2017
Balance at beginning of period | $ | 316.0 |  |  | $ | 255.6 |
Accruals for warranties issued during the period | 58.5 |  |  | 51.5 |
Settlements made (in cash or in kind) during the period | (55.9 | ) |  | (39.9 | )
Foreign currency translation | 7.2 |  |  | 2.9 |
Balance at March 31 | $ | 325.8 |  |  | $ | 270.1 |
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 $280.4 million and $273.6 million of warranty reserves are included in “Accrued expenses” in the Company’s Condensed Consolidated Balance Sheets as of March 31, 2018 and December 31, 2017, respectively. Approximately $45.4 million and $42.4 million of warranty reserves are included in “Other noncurrent liabilities” in the Company’s Condensed Consolidated Balance Sheets as of March 31, 2018 and December 31, 2017, 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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