Commitments

12 Months Ended

Dec. 31, 2018

Commitments

18.    Commitments

Purchase Obligations

Purchase obligations of the Company as of December 31, 2018 were $369.9 million, of which $342.4 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, 2018 were as follows:

(In millions)
2019	$	37.8
2020		29.6
2021		23.4
2022		18.9
2023		13.8
Remainder		58.8
Total minimum rental payments	$	182.3

Total rental expense for all operating leases (reduced by immaterial amounts from subleases) amounted to $48.4 million, $42.1 million and $43.5 million in 2018, 2017 and 2016, 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, 2018, 2017 and 2016.

(In millions)	2018			2017			2016
Reserve balance at the beginning of the year	$	17.2		$	16.2		$	16.0
Provision for warranties issued		25.1			25.1			25.8
Settlements made (in cash or in kind)		(25.7	)		(24.3	)		(25.5	)
Acquisition		8.9			—			0.3
Foreign currency		(0.6	)		0.2			(0.4	)
Reserve balance at end of year	$	24.9		$	17.2		$	16.2