Accrued Expenses

3 Months Ended

Mar. 31, 2017

Payables and Accruals [Abstract]

Accrued Expenses

Accrued Expenses

The components of accrued expenses were as follows:

(in millions)	March 31, 2017		December 31, 2016
Compensation and benefits	$	70.4	$	97.9
Standard product warranties	30.3		29.5
Customer incentives	28.2		58.1
Income and other accrued taxes	19.6		14.2
Other accrued expenses	39.9		47.0
Accrued expenses	$	188.4	$	246.7

Standard product warranties

The Company offers various 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 three months ended March 31, were as follows:

(in millions)	2017			2016
Balance at January 1	$	29.5		$	28.9
Current year provision	4.4			6.1
Acquired warranty obligation	0.1			—
Current year claims	(3.8		)	(4.4		)
Currency translation	0.1			—
Balance at March 31	$	30.3		$	30.6