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Product Support Liabilities (Tables)
6 Months Ended
Jun. 30, 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

 

312.9

 

 

 

360.7

 

Payments

 

(440.2

)

 

 

(299.7

)

Change in estimates for pre-existing warranties

 

55.1

 

 

 

132.2

 

Currency translation and other

 

(8.7

)

 

 

7.1

 

Balance at June 30

$

686.1

 

 

$

638.0

 

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

 

354.0

 

 

 

416.8

 

Revenues recognized

 

(285.0

)

 

 

(230.4

)

Currency translation

 

(16.0

)

 

 

13.2

 

Balance at June 30

$

1,282.1

 

 

$

1,104.5