Accrued and Other Current Liabilities

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Accrued and Other Current Liabilities

Accrued and Other Current Liabilities

(in millions)	December 31, 2020		December 31, 2019
Compensation and benefits	$	109.3	$	109.5
Customer incentives	68.0		69.9
Standard product warranties	30.5		29.2
Income and other accrued taxes	14.8		22.7
Other accrued liabilities	72.4		63.2
Accrued and other current liabilities	$	295.0	$	294.5

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 and braking products. The Company’s liability for such warranty programs is included in accrued expenses. The change in the Company’s standard product warranty liabilities follows:

(in millions)	2020		2019
Balance as of January 1	$	29.2	$	31.9
Provision	14.7		17.1
Claims	(14.1)		(19.6)
Foreign exchange	0.7		(0.2)
Balance as of December 31	$	30.5	$	29.2