XML 43 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
Commitments
12 Months Ended
Dec. 31, 2017
Commitments

17.    Commitments

Purchase Obligations

Purchase obligations of the Company as of December 31, 2017 were $397.3 million, of which $371.3 million is due within one year. Purchase obligations include contracts for raw materials and finished goods purchases, selling and administrative services, and capital expenditures.

 

Lease Commitments

Future minimum rental payments under non-cancelable operating leases as of December 31, 2017 were as follows:

 

(In millions)        

2018

   $ 31.0  

2019

     26.9  

2020

     20.7  

2021

     15.9  

2022

     13.0  

Remainder

     50.7  

Total minimum rental payments

   $ 158.2  

Total rental expense for all operating leases (reduced by minor amounts from subleases) amounted to $42.1 million, $43.5 million and $34.9 million in 2017, 2016 and 2015, respectively.

Product Warranties

We generally record warranty expense related to contractual warranty terms at the time of sale. We may also provide customer concessions for claims made outside of the contractual warranty terms and those expenses are recorded in the period in which the concession is made. We offer our customers various warranty terms based on the type of product that is sold. Warranty expense is determined based on historic claim experience and the nature of the product category. The following table summarizes activity related to our product warranty liability for the years ended December 31, 2017, 2016 and 2015.

 

       
(In millions)    2017      2016      2015  

Reserve balance at the beginning of the year

   $ 16.2      $ 16.0      $ 13.0  

Provision for warranties issued

     25.1        25.8        29.9  

Settlements made (in cash or in kind)

     (24.3      (25.5      (28.3

Acquisition

            0.3        1.6  

Foreign currency

     0.2        (0.4      (0.2

Reserve balance at end of year

   $ 17.2      $ 16.2      $ 16.0