Product-Related Liabilities

6 Months Ended

Jun. 30, 2017

Product Warranties Disclosures [Abstract]

10 Product-Related Liabilities

The Company has reserves for product risks. Such reserves are related to product performance issues including recall, product liability and warranty issues. For further explanation, see Note 13 Contingent Liabilities below.

The table below summarizes the change in the balance sheet position of the product-related liabilities. The provisions for the three and six months ended June 30, 2017 mainly related to warranty related issues and the cash paid for the three and six months ended June 30, 2017 mainly related to recall related issues. The provisions and cash paid for the three and six months ended June 30, 2016 mainly related to warranty related issues. The increase in the reserve balance as of June 30, 2017 compared to prior year is mainly due to recall related issues in the fourth quarter of 2016, a majority of which is covered by insurance. Insurance receivables are included within Other current assets in the Condensed Consolidated Balance Sheet.

	Three months ended						Six months ended
	June 30, 2017			June 30, 2016			June 30, 2017			June 30, 2016
Reserve at beginning of the period	$	117.7		$	61.8		$	120.1		$	60.8
Change in reserve		3.6			13.3			10.7			17.3
Cash payments		(9.7	)		(6.9	)		(20.3	)		(10.5	)
Translation difference		0.8			0.1			1.9			0.7
Reserve at end of the period	$	112.4		$	68.3		$	112.4		$	68.3