8. Other Current Liabilities and Other Liabilities

The table below presents the components of other current liabilities.


	March 27, 2015		December 31, 2014
	(in millions)
Other Current Liabilities:
Accruals for pending and threatened litigation (see Note 17)	$	37	$	38
Estimated costs in excess of estimated contract value to complete contracts in process in a loss position		72		75
Accrued product warranty costs		58		59
Accrued interest		52		46
Deferred revenues		32		30
Other		154		150

Total other current liabilities	$	405	$	398

The table below presents the components of other liabilities.


	March 27, 2015		December 31, 2014
	(in millions)
Other Liabilities:
Non-current income taxes payable (see Note 10)	$	196	$	196
Deferred compensation		44		43
Accrued workers’ compensation		36		38
Accrued product warranty costs		36		34
Notes payable and capital lease obligations		6		1
Other		69		70

Total other liabilities	$	387	$	382

The table below presents the changes in the Company’s accrued product warranty costs.


	First Quarter Ended
	March 27, 2015			March 28, 2014
	(in millions)
Accrued product warranty costs:⁽¹⁾
Balance at January 1	$	93		$	99
Acquisitions during the period		1			—
Accruals for product warranties issued during the period		17			17
Settlements made during the period		(17	)		(19	)
Foreign currency translation adjustments		(1	)		—
Liabilities held for sale⁽²⁾		1			—

Balance at end of period	$	94		$	97

⁽¹⁾

Warranty obligations incurred in connection with long-term production contracts that are accounted for under the POC cost-to-cost method are included within the contract estimates at completion and are excluded from the above amounts. The balances above include both the current and non-current amounts.

⁽²⁾	On December 16, 2014, the Company entered into a definitive agreement with Wärtsilä Corporation to sell its MSI business. See Note 4.