Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Inventories are stated at the lower of cost or market, determined by the first-in, first-out method and consist of the following:



	December 31,
(in millions)	2016		2015
Finished goods	$	130.1	$	126.7
Work-in-process	10.7		14.0
Raw materials and supplies	56.0		58.5
	$	196.8	$	199.2

Schedule of Property, Plant and Equipment

Property, plant and equipment are carried at cost at acquisition date and are depreciated using the straight-line method over their estimated useful lives as follows:



	Estimated Useful Lives (in years)
Buildings	25-30
Computer equipment and software	3-5
Leasehold improvements	4-7
Machinery and equipment	3-7
Office furniture and fixtures	5-7

The Company records depreciation and amortization in cost of sales for long-lived assets used in the manufacturing process, and within each line item of operating expenses for all other long-lived assets. Leasehold improvements are amortized over the shorter of the life of the lease or seven years. Assets under capital lease are included within property, plant and equipment and represent non-cash investing activities.

Property, plant and equipment, net consisted of the following:



	December 31,
(in millions)	2016			2015
Machinery and equipment	$	283.9		$	257.0
Land and buildings	302.6			243.7
Computer equipment and software	97.2			78.2
Furniture and fixtures	50.4			52.3
Construction in progress	52.9			57.4
Total property, plant, and equipment	787.0			688.6
Accumulated depreciation	(364.8		)	(326.9		)
Total property, plant and equipment, net	$	422.2		$	361.7

Changes in Accrued Sales Returns

The Company had the following activity for accrued sales returns from December 31, 2014 to December 31, 2016:



(in millions)
Balance as of December 31, 2014	$	32.3
Amounts accrued	123.0
Returns charged to accrual	(126.8		)
Balance as of December 31, 2015	$	28.5
Amounts accrued	130.6
Returns charged to accrual	(128.8		)
Balance as of December 31, 2016	$	30.3

Warranty Activity

The Company had the following activity for warranties from December 31, 2014 to December 31, 2016:



(in millions)
Balance as of December 31, 2014	$	31.3
Amounts accrued	28.8
Warranties charged to accrual	(30.5		)
Balance as of December 31, 2015	$	29.6
Amounts accrued	33.3
Warranties charged to accrual	(33.0		)
Balance as of December 31, 2016	$	29.9