Note 16—Deferred Revenue and Extended Product Warranties

Deferred revenue consists primarily of unearned revenue related to separately priced extended warranty contracts on sales of certain products, the most significant being those offered on its installed roofing systems within the Construction Materials segment.

Roofing Systems Deferred Revenue

The amount of revenue recognized related to extended product warranties covering roofing systems was $17.3 million and $21.5 million for the years ended December 31, 2013 and 2012, respectively. Deferred revenue recognized in the Consolidated Balance Sheets as of December 31 includes the following related to roofing systems extended product warranty contracts:

In millions	2013		2012

Deferred revenue
Current	$	17.0	$	16.8
Long-term		142.8		134.2


Deferred revenue liability	$	159.8	$	151.0

Expected costs of services to be performed under extended product warranty contracts are actuarially determined. Any expected costs in excess of deferred revenue are recognized within Accrued expenses.

Other Deferred Revenue

Other Deferred revenue recognized in the Consolidated Balance Sheets as of December 31, mainly related to contracts on brake pads, was as follows:

In millions	2013		2012

Deferred revenue
Current	$	0.4	$	0.8
Long-term		0.8		1.2


Deferred revenue liability	$	1.2	$	2.0