Product Warranty

9 Months Ended

Sep. 30, 2011

Product Warranties Disclosures [Abstract]

Product Warranty

Product Warranty

The Company provides warranties on some, but not all, of its products. The warranty terms are typically from one to three years. Provisions for estimated expenses related to product warranty are made at the time products are sold. These estimates are established using historical information about the nature, frequency and average cost of warranty claim settlements as well as product manufacturing and industry developments and recoveries from third parties. Management actively studies trends of warranty claims and takes action to improve product quality and minimize warranty claims. Management believes that the product warranty accrual is appropriate; however, actual claims incurred could differ from the original estimates, requiring adjustments to the accrual. The following table summarizes the activity in the product warranty accrual accounts:

	Nine Months Ended September 30,
(millions of dollars)	2011			2010
Beginning balance	$	66.8		$	61.7
Acquisition	4.5			3.0
Provisions	38.6			30.2
Payments	(33.2		)	(25.6		)
Translation adjustment	(1.2		)	(1.0		)
Ending balance	$	75.5		$	68.3

The product warranty liability is classified in the Condensed Consolidated Balance Sheets as follows:

	September 30,		December 31,
(millions of dollars)	2011		2010
Accounts payable and accrued expenses	$	38.4	$	37.0
Other non-current liabilities	37.1		29.8
Total product warranty liability	$	75.5	$	66.8