Product Support Liabilities

12 Months Ended

Dec. 31, 2022

Product Warranties Disclosures [Abstract]

Product Support Liabilities

I. PRODUCT SUPPORT LIABILITIES

Changes in product support liabilities are summarized as follows:

WARRANTY RESERVES	2022			2021			2020
Balance at January 1	$	344.3		$	389.7		$	440.0
Cost accruals		386.1			298.2			295.0
Payments		(398.7	)		(396.3	)		(437.2	)
Change in estimates for pre-existing warranties		111.5			58.3			84.1
Currency translation and other		(5.5	)		(5.6	)		7.8
Balance at December 31	$	437.7		$	344.3		$	389.7

DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS	2022			2021			2020
Balance at January 1	$	775.2		$	795.8		$	801.4
Deferred revenues		629.1			487.1			409.9
Revenues recognized		(476.1	)		(487.8	)		(438.9	)
Currency translation		(23.3	)		(19.9	)		23.4
Balance at December 31	$	904.9		$	775.2		$	795.8

The Company expects to recognize approximately $272.7 of the remaining deferred revenues on extended warranties and R&M contracts in 2023, $273.5 in 2024, $199.6 in 2025, $101.7 in 2026, $38.6 in 2027 and $18.8 thereafter.

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

	WARRANTY RESERVES				DEFERRED REVENUES
At December 31,		2022		2021		2022		2021
Truck, Parts and Other:
Accounts payable, accrued expenses and other	$	279.2	$	215.5	$	263.7	$	259.5
Other liabilities		158.5		128.8		628.8		503.2
Financial Services:
Accounts payable, accrued expenses and other						4.9		4.6
Deferred taxes and other liabilities						7.5		7.9
	$	437.7	$	344.3	$	904.9	$	775.2