Other Current Liabilities and Other Liabilities (Tables)

3 Months Ended

Mar. 27, 2015

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

Other Liabilities

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

Changes in Company's Accrued Product Warranty Costs

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.