XML 46 R36.htm IDEA: XBRL DOCUMENT v3.22.2.2
Warranties (Tables)
9 Months Ended
Sep. 30, 2022
Product Warranties Disclosures [Abstract]  
Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums Changes in the Company’s service-type warranties were as follows (in millions):

 

 

Nine Months Ended
September 30,

 

 

 

2022

 

 

2021

 

Balance at beginning of period

 

$

66.9

 

 

$

63.0

 

Deferred revenue for new service warranties

 

 

21.6

 

 

 

21.2

 

Amortization of deferred revenue

 

 

(16.1

)

 

 

(18.2

)

Foreign currency translation

 

 

(0.9

)

 

 

(0.2

)

Balance at end of period

 

$

71.5

 

 

$

65.8

 

Changes in the Company’s assurance-type warranty liability were as follows (in millions):

 

 

Nine Months Ended
September 30,

 

 

 

2022

 

 

2021

 

Balance at beginning of period

 

$

65.7

 

 

$

64.6

 

Warranty provisions

 

 

38.9

 

 

 

36.3

 

Settlements made

 

 

(43.9

)

 

 

(50.8

)

Changes in liability for pre-existing warranties, net

 

 

1.9

 

 

 

18.8

 

Foreign currency translation

 

 

(0.5

)

 

 

(0.2

)

Acquisition

 

 

0.2

 

 

 

0.3

 

Balance at end of period

 

$

62.3

 

 

$

69.0