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Product Warranty
 9 Months Ended
Sep. 30, 2018
Product Warranties Disclosures [Abstract]  
Product Warranty
PRODUCT WARRANTY

The warranty reserve activity for the three and nine months ended September 30, 2018 and 2017 consisted of the following (in millions):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Balance at beginning of period
$
324.8

 
$
296.9

 
$
316.0

 
$
255.6

Acquisitions
—

 
2.1

 
—

 
2.1

Accruals for warranties issued during the period
55.6

 
47.7

 
164.3

 
152.6

Settlements made (in cash or in kind) during the period
(49.7
)
 
(49.3
)
 
(139.7
)
 
(127.4
)
Foreign currency translation
(0.7
)
 
6.2

 
(10.6
)
 
20.7

Balance at September 30
$
330.0

 
$
303.6

 
$
330.0

 
$
303.6



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 $283.9 million and $273.6 million of warranty reserves are included in “Accrued expenses” in the Company’s Condensed Consolidated Balance Sheets as of September 30, 2018 and December 31, 2017, respectively. Approximately $46.1 million and $42.4 million of warranty reserves are included in “Other noncurrent liabilities” in the Company’s Condensed Consolidated Balance Sheets as of September 30, 2018 and December 31, 2017, respectively.