2.2.0.25falsefalse10701 - Disclosure - Guarantees and Warrantiestruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011
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<div style="margin-top: 12pt; font-size: 10pt;" align="left"><b>7. Guarantees and Warranties</b> </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We have agreed to indemnify certain third parties relating to businesses and/or assets that we previously owned and sold to such third parties. Such indemnifications relate primarily to potential environmental and tax exposures for activities conducted by us prior to the sale of such businesses and/or assets. It is not possible to predict the maximum potential amount of future payments under these or similar indemnifications due to the conditional nature of the obligations and the unique facts and circumstances involved in each particular indemnification. </div>
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<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
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<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 0px solid;" colspan="2" nowrap="nowrap" align="center"><b>Maximum</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="6" nowrap="nowrap" align="center"><b>Carrying Amount of Liability</b></td>
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<tr style="font-size: 8pt;" valign="bottom"><td> </td>
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<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>Potential Payment</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>March 31, 2011</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>December 31, 2010</b></td>
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<div style="text-indent: -15px; margin-left: 15px;">Environmental indemnifications</div></td>
<td> </td>
<td colspan="3" align="center">No limit</td>
<td> </td>
<td align="left">$</td>
<td align="right">8,100</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">8,400</td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Tax indemnifications</div></td>
<td> </td>
<td colspan="3" align="center">No limit</td>
<td> </td>
<td align="left">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">—</td>
<td> </td></tr></table></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We also maintain contingencies for warranty expenses on certain of our long-term contracts. Generally, warranty contingencies are accrued over the life of the contract so that a sufficient balance is maintained to cover our aggregate exposure at the conclusion of the project. </div>
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<td style="border-bottom: #000000 1px solid;" colspan="6" nowrap="nowrap" align="center"><b>Fiscal Three Months Ended March 31,</b></td>
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<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2011</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2010</b></td>
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<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;"><b>Warranty Liability:</b></div></td>
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<div style="text-indent: -15px; margin-left: 15px;">Balance at beginning of year</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">100,300</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">110,800</td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Accruals</div></td>
<td> </td>
<td> </td>
<td align="right">7,600</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">6,800</td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Settlements</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(4,900</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(3,600</td>
<td nowrap="nowrap">)</td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Adjustments to provisions, including foreign currency translation</div></td>
<td> </td>
<td> </td>
<td align="right">100</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(11,500</td>
<td nowrap="nowrap">)</td></tr>
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<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
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<div style="text-indent: -15px; margin-left: 15px;">Balance at end of period</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">103,100</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">102,500</td>
<td> </td></tr>
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<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
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<td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td>
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<td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td>
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<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We are contingently liable under standby letters of credit, bank guarantees and surety bonds, totaling $1,065,900 and $1,010,600 as of March 31, 2011 and December 31, 2010, respectively, primarily for guarantees of our performance on projects currently in execution or under warranty. These amounts include the standby letters of credit issued under the U.S. senior secured credit agreement discussed in Note 5 and from other facilities worldwide. No material claims have been made against these guarantees, and based on our experience and current expectations, we do not anticipate any material claims. </div>17 </div>
<h5 align="left"><a href="blank#Y90624tocpage">Table of Contents</a></h5>
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<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We have also guaranteed certain performance obligations in a refinery/electric power generation project based in Chile in which we hold a noncontrolling interest. See Note 3 for further information. </div></div></div></div></div> </div>7. Guarantees and Warranties
We have agreed to indemnify certain third parties relating to businesses and/or assets that wefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringEnvironmental-Disclosure of material liabilities for remediation, site restoration, postclosure, monitoring commitments, or other exit costs that may occur on the sale, disposal or abandonment of a property as a result of unanticipated contamination of the assets. Amount accrued as of the balance sheet date for environmental costs associated with the sale, disposal or abandonment of property. Product - 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. Letters of credits and surety bonds - Provides pertinent information about each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure.No authoritative reference available.falsefalse12Guarantees and WarrantiesUnKnownUnKnownUnKnownUnKnownfalsetrue