Commitments and Contingencies

9 Months Ended

Sep. 28, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Product Warranties

The following activity related to product warranty liabilities was recorded in Accrued expenses during the nine months ended September 28, 2024 and September 30, 2023:

(in millions)	September 28, 2024		September 30, 2023
Balance at beginning of period	$	157.6	$	146.7
Payments	(78.0)		(65.5)
Provisions/additions for contracts issued/sold	59.0		67.7
Aggregate changes for preexisting warranties	10.6		8.6
Foreign currency translation	—		(0.3)
Other	(3.0)		1.2
Balance at end of period	$	146.2	$	158.4

Extended Product Warranties

The following activity related to deferred revenue for extended product warranty contracts was recorded in Accrued expenses and Other long-term liabilities during the nine months ended September 28, 2024 and September 30, 2023:

(in millions)	September 28, 2024		September 30, 2023
Balance at beginning of period	$	127.2	$	112.5
Extended warranty contracts sold	34.5		34.1
Revenue recognized on existing extended warranty contracts	(22.8)		(19.7)
Foreign currency translation	(0.2)		—
Other	(0.2)		(0.3)
Balance at end of period	$	138.5	$	126.6