Accrued Liabilities

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Accrued Liabilities

Accrued Liabilities

Accrued liabilities as of December 31, 2020 and 2019 consisted of the following:

	2020		2019
Salaries, wages, and related fringe benefits	$	230.5	$	60.7
Contract liabilities	172.8		51.7
Product warranty	54.1		22.7
Operating lease liabilities	57.4		17.1
Restructuring	17.5		5.0
Taxes	118.7		22.5
Other	136.1		64.4
Total accrued liabilities	$	787.1	$	244.1

A reconciliation of the changes in the accrued product warranty liability for the years ended December 31, 2020 and 2019 is as follows.

	2020		2019
Balance at the beginning of period	$	22.7	$	23.9
Product warranty accruals	28.8		30.8
Acquired warranty	31.3		—
Settlements	(30.5)		(31.9)
Charged to other accounts(1)	1.8		(0.1)
Balance at the end of period	$	54.1	$	22.7

(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 or divestitures of businesses.