Accrued Expenses

9 Months Ended

Sep. 30, 2017

Payables and Accruals [Abstract]

Accrued Expenses

Accrued Expenses

The components of accrued expenses were as follows:

(in millions)	September 30, 2017		December 31, 2016
Compensation and benefits	$	108.0	$	97.9
Standard product warranties	31.2		29.5
Customer incentives	57.2		58.1
Income and other accrued taxes	38.0		14.2
Other accrued expenses	43.0		47.0
Accrued expenses	$	277.4	$	246.7

Standard product warranties

The Company offers various standard warranty programs on its products, primarily for certain installed roofing systems, high-performance cables and assemblies, fluid technologies, braking products, and foodservice equipment. The Company’s liability for such warranty programs is included in accrued expenses.  

The change in standard product warranty liabilities for the nine months ended September 30, were as follows:

(in millions)	2017			2016
Balance at January 1	$	29.5		$	28.9
Current year provision	12.7			16.1
Current year claims	(11.8		)	(19.3		)
Currency translation	0.8			—
Balance at September 30	$	31.2		$	25.7