Accrued Liabilities

9 Months Ended

Sep. 30, 2018

Note 6. Accrued Liabilities

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

	September 30, 2018		December 31, 2017
Salaries, wages and related fringe benefits	$	67.7	$	97.3
Restructuring		6.4		6.5
Taxes		15.5		34.5
Contract liabilities⁽¹⁾		90.5		42.7
Product warranty		24.5		22.3
Accrued interest		0.7		0.8
Other		53.6		67.1
Total accrued liabilities	$	258.9	$	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 nine month periods ended September 30, 2018 and 2017 are as follows.

	Three Month Period Ended September 30, 2018			Three Month Period Ended September 30, 2017			Nine Month Period Ended September 30, 2018			Nine Month Period Ended September 30, 2017
Balance at beginning of period	$	23.9		$	21.7		$	22.3		$	21.7
Product warranty accruals		6.9			6.7			18.5			17.8
Settlements		(6.2	)		(5.0	)		(16.8	)		(17.1	)
Charged to other accounts⁽¹⁾		(0.1	)		0.2			0.5			1.2
Balance at end of period	$	24.5		$	23.6		$	24.5		$	23.6

⁽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.