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Commitments | 12 Months Ended
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Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Commitments | 18. Commitments Purchase Obligations Purchase obligations of the Company as of December 31, 2022 were $561.3 million, of which $534.0 million is due within one year. Purchase obligations include contracts for raw materials and finished goods purchases, selling and administrative services, and capital expenditures. 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 years ended December 31, 2022, 2021 and 2020.
(In millions) |  | 2022 |  |  |  | 2021 |  |  | 2020 |
Reserve balance at the beginning of the year |  | $ | 19.5 |  |  |  | $ | 19.0 |  |  | $ | 18.5 |
Provision for warranties issued |  |  | 8.1 |  |  |  |  | 8.5 |  |  |  | 4.8 |
Settlements made (in cash or in kind) |  |  | (9.0 | ) |  |  |  | (8.4 | ) |  |  | (5.9 | )
Acquisition |  |  | 1.7 |  |  |  |  | 0.3 |  |  |  | 1.5 |
Foreign currency |  |  | (0.2 | ) |  |  |  | 0.1 |  |  |  | 0.1 |
Reserve balance at end of year |  | $ | 20.1 |  |  |  | $ | 19.5 |  |  | $ | 19.0 |

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