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Product Support Liabilities (Tables)
9 Months Ended
Sep. 30, 2024
Product Warranties Disclosures [Abstract]  
Changes in Product Support Liabilities, Warranty Reserves

Changes in product support liabilities are summarized as follows:

WARRANTY RESERVES

2024

 

 

2023

 

Balance at January 1

$

767.0

 

 

$

437.7

 

Cost accruals

 

462.2

 

 

 

484.1

 

Payments

 

(679.5

)

 

 

(459.9

)

Change in estimates for pre-existing warranties

 

103.6

 

 

 

186.1

 

Currency translation and other

 

2.7

 

 

 

(2.6

)

Balance at September 30

$

656.0

 

 

$

645.4

 

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

 

535.0

 

 

 

583.5

 

Revenues recognized

 

(444.4

)

 

 

(339.7

)

Currency translation

 

10.1

 

 

 

(5.4

)

Balance at September 30

$

1,329.8

 

 

$

1,143.3