Accrued Liabilities

6 Months Ended

Jun. 30, 2018

Note 6. Accrued Liabilities

Accrued liabilities as of June 30, 2018 and December 31, 2017 consisted of the following.

	June 30, 2018		December 31, 2017
Salaries, wages and related fringe benefits	$	74.4	$	97.3
Restructuring		2.3		6.5
Taxes		15.1		34.5
Contract liabilities⁽¹⁾		80.7		42.7
Product warranty		23.9		22.3
Accrued interest		0.5		0.8
Other		55.7		67.1
Total accrued liabilities	$	252.6	$	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 and six month periods ended June 30, 2018 and 2017 are as follows.

	Three Months Ended June 30, 2018			Three Months Ended June 30, 2017			Six Months Ended June 30, 2018			Six Months Ended June 30, 2017
Balance at beginning of period	$	24.3		$	22.5		$	22.3		$	21.7
Product warranty accruals		5.5			5.2			11.6			11.1
Settlements		(5.2	)		(6.7	)		(10.6	)		(12.1	)
Charged to other accounts⁽¹⁾		(0.7	)		0.7			0.6			1.0
Balance at end of period	$	23.9		$	21.7		$	23.9		$	21.7

⁽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.