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Product Support Liabilities (Tables)
3 Months Ended
Mar. 31, 2024
Product Warranties Disclosures [Abstract]  
Changes in Product Support Liabilities, Warranty Reserves

WARRANTY RESERVES

2024

 

 

2023

 

Balance at January 1

$

767.0

 

 

$

437.7

 

Cost accruals

 

181.3

 

 

 

163.8

 

Payments

 

(220.8

)

 

 

(134.3

)

Change in estimates for pre-existing warranties

 

41.8

 

 

 

53.1

 

Currency translation and other

 

(5.9

)

 

 

3.3

 

Balance at March 31

$

763.4

 

 

$

523.6

 

Changes in Deferred Revenues on Extended Warranties and R&M Contracts

DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS

 

2024

 

 

 

2023

 

Balance at January 1

$

1,229.1

 

 

$

904.9

 

Deferred revenues

 

177.7

 

 

 

208.6

 

Revenues recognized

 

(141.4

)

 

 

(119.3

)

Currency translation

 

(11.8

)

 

 

7.0

 

Balance at March 31

$

1,253.6

 

 

$

1,001.2