Other Financial Information (Tables)

3 Months Ended

Mar. 31, 2021

Other Financial Information [Abstract]

Inventories

Total inventory consisted of the following (in millions):

	As of
	March 31, 2021		December 31, 2020
Production and service materials	$	188.1	$	158.1
Finished goods	71.1		63.8
Inventory	$	259.2	$	221.9
Reported as:
Prepaid expenses and other current assets	$	247.1	$	210.2
Other long-term assets	12.1		11.7
Total	$	259.2	$	221.9

Warranties

Changes during the three months ended March 31, 2021 in the Company’s warranty reserve as reported within other accrued liabilities in the Condensed Consolidated Balance Sheets were as follows (in millions):

Balance as of December 31, 2020	$	30.2
Provisions made during the period	10.1
Actual costs incurred during the period	(9.7)
Balance as of March 31, 2021	$	30.6

Performance obligation

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of March 31, 2021 and when the Company expects to recognize the amounts as revenue (in millions):

	Revenue Recognition Expected by Period
	Total		Less than 1 year		1-3 years		More than 3 years
Product	$	107.5	$	88.9	$	15.9	$	2.7
Service(*)	1,236.9		817.8		343.3		75.8
Total	$	1,344.4	$	906.7	$	359.2	$	78.5

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(*)     Represents unearned service revenue allocated to the performance obligations not delivered or partially delivered as of March 31, 2021. The unearned service revenue is comprised of deferred revenue and non-cancellable contract revenue, which has not been invoiced yet.

Other income (expense), net

Other expense, net, consisted of the following (in millions):

	Three Months Ended March 31,
	2021		2020
Interest income	$	4.1	$	15.0
Interest expense	(13.7)		(20.1)
Gain (loss) on investments, net	3.8		(5.8)
Other	0.8		(0.2)
Other expense, net	$	(5.0)	$	(11.1)