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Product Warranty (Tables)

9 Months Ended

Sep. 30, 2022

Guarantees and Product Warranties [Abstract]

Schedule of Warranty Reserve Activity

The warranty reserve activity for the three and nine months ended September 30, 2022 and 2021, including deferred revenue associated with the Company's extended warranties that have been sold, was as follows (in millions):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Balance at beginning of period			$	589.5					$	579.3					$	592.5					$	521.8
Accruals for warranties issued during the period			86.1						72.7						231.3						242.8
Settlements made (in cash or in kind) during the period			(81.8)						(69.3)						(189.5)						(172.0)
Foreign currency translation			(31.9)						(14.0)						(72.4)						(23.9)
Balance at September 30			$	561.9					$	568.7					$	561.9					$	568.7

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- References

No definition available.

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- Definition

Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126907703&loc=d3e12565-110249

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