Deferred Revenue and Extended Product Warranties (Tables)

6 Months Ended

Jun. 30, 2016

Deferred Revenue and Extended Product Warranties

Schedule of product warranty deferred revenue liability

Deferred revenue recognized in the Condensed Consolidated Balance Sheets includes the following related to roofing systems extended product warranty contracts: 

	June 30,		December 31,
(in millions)	2016		2015
Deferred revenue
Current	$	18.2	$	18.1
Long-term		163.8		159.7
Deferred revenue liability	$	182.0	$	177.8

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 Condensed Consolidated Balance Sheets as of June 30, 2016 and December 31, 2015, primarily related to contracts on systems sales within the Fluid Technologies segment, was as follows:

	June 30,		December 31,
(in millions)	2016		2015
Deferred revenue
Current	$	8.4	$	5.9
Long-term		-		-
Deferred revenue liability	$	8.4	$	5.9