Other Current Liabilities and Other Liabilities

3 Months Ended

Mar. 25, 2016

Other Current Liabilities and Other Liabilities

9. Other Current Liabilities and Other Liabilities

The table below presents the components of other current liabilities.


	March 25, 2016		December 31, 2015
	(in millions)
Other Current Liabilities:
Estimated costs in excess of estimated contract value to complete contracts in process in a loss position	$	76	$	82
Accrued product warranty costs		66		70
Accrued interest		48		45
Deferred revenues		33		32
Product returns allowance (see Note 2)		25		20
Accruals for pending and threatened litigation (see Note 18)		1		6
Other		154		139

Total other current liabilities	$	403	$	394

The table below presents the components of other liabilities.


	March 25, 2016		December 31, 2015
	(in millions)
Other Liabilities:
Non-current income taxes payable (see Note 11)	$	161	$	161
Deferred compensation		49		45
Accrued workers’ compensation		37		38
Accrued product warranty costs		37		35
Notes payable and capital lease obligations		10		10
Other		77		79

Total other liabilities	$	371	$	368

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


	First Quarter Ended
	March 25, 2016			March 27, 2015
	(in millions)
Accrued product warranty costs:⁽¹⁾
Balance at January 1	$	105		$	93
Acquisitions during the period		—			1
Accruals for product warranties issued during the period		9			17
Settlements made during the period		(11	)		(17	)

Balance at end of period	$	103		$	94

⁽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.