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Product Support Liabilities (Tables)
12 Months Ended
Dec. 31, 2021
Product Warranties Disclosures [Abstract]  
Changes in Product Support Liabilities, Warranty Reserves

 

WARRANTY RESERVES

 

2021

 

 

2020

 

 

2019

 

Balance at January 1

 

$

389.7

 

 

$

440.0

 

 

$

380.2

 

Cost accruals

 

 

298.2

 

 

 

295.0

 

 

 

386.3

 

Payments

 

 

(396.3

)

 

 

(437.2

)

 

 

(343.7

)

Change in estimates for pre-existing warranties

 

 

58.3

 

 

 

84.1

 

 

 

19.8

 

Currency translation and other

 

 

(5.6

)

 

 

7.8

 

 

 

(2.6

)

Balance at December 31

 

$

344.3

 

 

$

389.7

 

 

$

440.0

 

 

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

DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS

 

2021

 

 

2020

 

 

2019

 

Balance at January 1

 

$

795.8

 

 

$

801.4

 

 

$

699.9

 

Deferred revenues

 

 

487.1

 

 

 

409.9

 

 

 

499.1

 

Revenues recognized

 

 

(487.8

)

 

 

(438.9

)

 

 

(396.4

)

Currency translation

 

 

(19.9

)

 

 

23.4

 

 

 

(1.2

)

Balance at December 31

 

$

775.2

 

 

$

795.8

 

 

$

801.4

 

 

Product Support Liabilities

Product support liabilities are included in the accompanying Consolidated Balance Sheets as follows:

 

 

 

WARRANTY RESERVES

 

 

DEFERRED REVENUES

 

At December 31,

 

 

2021

 

 

 

2020

 

 

 

2021

 

 

 

2020

 

Truck, Parts and Other:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable, accrued expenses and other

 

$

215.5

 

 

$

245.6

 

 

$

259.5

 

 

$

269.0

 

Other liabilities

 

 

128.8

 

 

 

144.1

 

 

 

503.2

 

 

 

513.1

 

Financial Services:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable, accrued expenses and other

 

 

 

 

 

 

 

 

 

 

4.6

 

 

 

5.7

 

Deferred taxes and other liabilities

 

 

 

 

 

 

 

 

 

 

7.9

 

 

 

8.0

 

 

 

$

344.3

 

 

$

389.7

 

 

$

775.2

 

 

$

795.8