Product Warranty (Tables)

3 Months Ended

Mar. 31, 2014

Product Warranties Disclosures [Abstract]

Schedule of Product Warranty Liability

The following table summarizes the activity in the product warranty accrual accounts:

(millions of dollars)	2014			2013
Beginning balance, January 1	$	72.7		$	64.9
Provisions	5.0			11.6
Acquisition(a)	22.8			—
Payments	(7.3		)	(7.2		)
Translation adjustment	—			(1.3		)
Ending balance, March 31	$	93.2		$	68.0

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(a) The Company has recorded a $12.4 million insurance receivable related to the $22.8 million liability, which is classified in the Condensed Consolidated Balance Sheet in Investments and Advances.

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

	March 31,		December 31,
(millions of dollars)	2014		2013
Accounts payable and accrued expenses	$	33.2	$	38.4
Other non-current liabilities	60.0		34.3
Total product warranty liability	$	93.2	$	72.7