XML 21 R12.htm IDEA: XBRL DOCUMENT v3.23.2
Product Warranties
6 Months Ended
Jul. 01, 2023
Product Warranties Disclosures [Abstract]  
Product Warranties Product Warranties
The Corporation issues certain warranty policies on its workplace furnishings and residential building products that provide for repair or replacement of any covered product or component that fails during normal use because of a defect in design, materials, or workmanship. The duration of warranty policies on the Corporation’s products varies based on the type of product. Allowances have been established for the anticipated future costs associated with the Corporation’s warranty programs.

A warranty allowance is determined by recording a specific allowance for known warranty issues and an additional allowance for unknown claims expected to be incurred based on historical claims experience. Actual claims incurred could differ from the original estimates, requiring adjustments to the allowance. 

Activity associated with warranty obligations was as follows:
Six Months Ended
July 1,
2023
July 2,
2022
Balance at beginning of period$14.8 $16.0 
Accruals related to acquisitions3.5 
Accruals for warranties issued6.2 5.2 
Settlements and other(5.6)(5.3)
Balance at end of period$19.0 $15.9 
The current and long-term portions of the allowance for estimated settlements are included within "Accounts payable and accrued expenses" and "Other Long-Term Liabilities," respectively, in the Condensed Consolidated Balance Sheets. The following table summarizes when these estimated settlements are expected to be paid:
July 1,
2023
December 31,
2022
Current - in the next twelve months$6.9 $5.4 
Long-term - beyond one year12.1 9.4 
Total$19.0 $14.8 

Balances as of July 1, 2023 in the tables above exclude amounts classified as held for sale. See "Note 17. Held for Sale" in the Notes to Condensed Consolidated Financial Statements for further information.