Accrued Liabilities

3 Months Ended

Mar. 31, 2018

Note 6. Accrued Liabilities

Accrued liabilities as of March 31, 2018 and December 31, 2017 consisted of the following.

	March 31, 2018		December 31, 2017

Salaries, wages and related fringe benefits	$	86.4	$	97.3
Restructuring		4.1		6.5
Taxes		48.2		34.5
Contract liabilities⁽¹⁾		82.3		42.7
Product warranty		24.3		22.3
Accrued interest		0.9		0.8
Other		59.2		67.1
Total accrued liabilities	$	305.4	$	271.2

⁽¹⁾

For purposes of comparability, “Advance payments on sales contracts” as of December 31, 2017 was reclassified to “Contract liabilities.” See Note 12 “Revenue from Contracts with Customers” for an explanation of the Contract liabilities account included in “Accrued liabilities” in the Condensed Consolidated Balance Sheets.

A reconciliation of the changes in the accrued product warranty liability for the three month periods ended March 31, 2018 and 2017 are as follows.

	For the Three Month Period Ended March 31, 2018			For the Three Month Period Ended March 31, 2017

Balance at beginning of period	$	22.3		$	21.7
Product warranty accruals		6.1			5.9
Settlements		(5.4	)		(5.4	)
Charged to other accounts⁽¹⁾		1.3			0.3
Balance at end of period	$	24.3		$	22.5

⁽¹⁾

Includes primarily the effects of foreign currency translation adjustments for the Company’s subsidiaries with functional currencies other than the USD and changes in the accrual related to acquisitions.