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Commitments and contingencies
 9 Months Ended
Sep. 29, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and contingencies
Commitments and contingencies
A. Performance bonds, letters of credit and bank guarantees
As of September 29, 2018, letters of credit were outstanding against the asset-backed revolving facility amounting to $56.7 million, compared with $58.0 million as of December 30, 2017. Gates had additional outstanding performance bonds, letters of credit and bank guarantees amounting to $3.4 million, compared with $3.4 million as of December 30, 2017.
B. Contingencies
Gates is, from time to time, party to general legal proceedings and claims, which arise in the ordinary course of business. Gates is also, from time to time, party to legal proceedings and claims in respect of environmental obligations, product liability, intellectual property and other matters which arise in the ordinary course of business and against which management believes Gates has meritorious defenses available.
While it is not possible to quantify the financial impact or predict the outcome of all pending claims and litigation, management does not anticipate that the outcome of any current proceedings or known claims, either individually or in aggregate, will materially affect Gates’ financial position, results of operations or cash flows.
C. Warranties
The following summarizes the movements in the warranty liability for the nine month periods ended September 29, 2018 and September 30, 2017, respectively:
(dollars in millions)
As of September 29, 2018
 
As of September 30, 2017
Balance as of the beginning of the fiscal year
$
14.1

 
$
14.3

Charge for the period
9.2

 
10.5

Payments made
(7.3
)
 
(12.2
)
Acquisitions
—

 
0.2

Released during the period
(0.6
)
 
—

Foreign currency translation
(0.2
)
 
0.6

Balance as of the end of the period
$
15.2

 
$
13.4