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Product Warranties

3 Months Ended

Mar. 31, 2022

Guarantees And Product Warranties [Abstract]

Product Warranties

13. Product Warranties

We generally record warranty expense related to contractual warranty terms at the time of sale. We may also provide customer concessions for claims made outside of the contractual warranty terms and those expenses are recorded in the period in which the concession is made. We offer our customers various warranty terms based on the type of product that is sold. Warranty expense is determined based on historic claim experience and the nature of the product category. The following table summarizes activity related to our product warranty liability for the three months ended March 31, 2022 and 2021, respectively.

(In millions)		Three Months Ended March 31,
		2022				2021
Reserve balance at January 1,		$	26.5			$	24.5
Provision for warranties issued			10.3				8.1
Settlements made (in cash or in kind)			(10.0	)			(8.1	)
Acquisition			0.4				0.6
Reserve balance at March 31,		$	27.2			$	25.1

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-URI http://asc.fasb.org/topic&trid=2155896

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