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Product Warranties
 6 Months Ended
Jun. 30, 2018
Product Warranties Disclosures [Abstract]  
PRODUCT WARRANTIES
PRODUCT WARRANTIES
Changes in the Company’s accrual for product warranty claims during the first six months of 2018 and 2017, including customer satisfaction settlements, were as follows:
 
(Thousands of dollars)
 
 
 
 
2018
 
2017
Balance at January 1
$
151,425

 
$
34,419

Charges to expense
14,639

 
16,434

Settlements
(8,185
)
 
(16,698
)
Acquisition and other adjustments
(15,309
)
 
110,461

Balance at June 30
$
142,570

 
$
144,616



Warranty accruals acquired in connection with the Acquisition include warranties for certain products under extended furniture protection plans. In the U.S., revenue related to furniture protection plans is deferred and recognized over the life of the contract.
For further details on the Company’s accrual for product warranty claims, see Note 1 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017.