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BASIS OF PRESENTATION (Tables)
12 Months Ended
Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidated current and non-current product warranty liability
The following table summarizes the changes in the consolidated product warranty liability (in millions):
Balance as of December 31, 2014
$
57.2

Accruals for warranties issued during the period
63.2

Changes in estimates
(1.3
)
Settlements during the year
(64.0
)
Foreign exchange effect/other
(2.1
)
Balance as of December 31, 2015
53.0

Accruals for warranties issued during the period
72.4

Changes in estimates
(2.3
)
Settlements during the year
(58.1
)
Foreign exchange effect/other
(5.2
)
Balance as of December 31, 2016
$
59.8