Product Warranties

3 Months Ended

Mar. 30, 2024

Product Warranties Disclosures [Abstract]

The Corporation issues certain warranty policies on its workplace furnishings and residential building products that provide for repair or replacement of any covered product or component that fails during normal use because of a defect in design, materials, or workmanship. The duration of warranty policies on the Corporation’s products varies based on the type of product. Allowances have been established for the anticipated future costs associated with the Corporation’s warranty programs.

A warranty allowance is determined by recording a specific allowance for known warranty issues and an additional allowance for unknown claims expected to be incurred based on historical claims experience. Actual claims incurred could differ materially from the original estimates, requiring adjustments to the allowance.

Activity associated with warranty obligations was as follows:


	Three Months Ended
	March 30, 2024		April 1, 2023
Balance at beginning of period	$	18.0	$	14.8

Accruals for warranties issued	3.5		3.2



Settlements and other	(3.1)		(2.7)
Balance at end of period	$	18.4	$	15.3

The current and long-term portions of the allowance for estimated settlements are included within "Accounts payable and accrued expenses" and "Other Long-Term Liabilities," respectively, in the Condensed Consolidated Balance Sheets. The following table summarizes when these estimated settlements are expected to be paid:


	March 30, 2024		December 30, 2023
Current - in the next twelve months	$	6.4	$	6.0
Long-term - beyond one year	12.0		12.0
Total	$	18.4	$	18.0