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Product Warranty (Tables)

6 Months Ended

Jun. 30, 2024

Guarantees and Product Warranties [Abstract]

Schedule of Warranty Reserve Activity

The warranty reserve activity for the three and six months ended June 30, 2024 and 2023, including deferred revenue associated with the Company's extended warranties that have been sold, was as follows (in millions):

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Balance at beginning of period			$	793.1					$	677.0					$	800.8					$	640.0
Acquisitions			4.1						—						4.1						—
Accruals for warranties issued			93.8						107.8						185.9						197.5
Settlements made and deferred revenue recognized			(93.6)						(63.4)						(175.6)						(127.9)
Reclassified to held for sale(1)			(11.6)						—						(11.6)						—
Foreign currency translation			(11.2)						5.8						(29.0)						17.6
Balance at June 30			$	774.6					$	727.2					$	774.6					$	727.2

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(1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

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- References

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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://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-8

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