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Product Warranties
 9 Months Ended
Sep. 30, 2018
Product Warranties Disclosures [Abstract]  
PRODUCT WARRANTIES
PRODUCT WARRANTIES
Changes in the Company’s accrual for product warranty claims during the first nine 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
22,148

 
27,802

Settlements
(39,933
)
 
(41,408
)
Acquisition, divestiture and other adjustments
(66,236
)
 
107,321

Balance at September 30
$
67,404

 
$
128,134



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. The furniture protection plan business was divested during the third quarter ended September 30, 2018 for an immaterial amount that approximated net book value.
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.