CONTINGENT LIABILITIES AND COMMITMENTS

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

NOTE 9. CONTINGENT LIABILITIES AND COMMITMENTS

Litigation

The Company is currently involved in matters of litigation and legal proceedings, including environmental contingencies, arising in the ordinary course of business. The Company accrues for such matters when expenditures are probable and reasonably estimable. Based upon information presently known, management is of the opinion that such litigation, either individually or in the aggregate, will not have a material adverse effect on the Company’s financial position, results of operations, or cash flows.

Warranty

The Company provides for estimated product warranty expenses, which are included in Other current liabilities, when related products are sold. Because warranty estimates are forecasts that are based on the best available information, primarily historical claims experience, future warranty claims may differ from the amounts accrued.

Changes in the warranty reserve are as follows (in millions):


Balance, December 31, 2020	$	10.5
Provision for warranty claims	0.8
Warranty claims settled	(1.0)

Balance, March 31, 2021	$	10.3

Warranty expense for the three months ended March 31, 2021 and 2020 was $0.8 million and $2.0 million, respectively.