Guarantees and Product Warranties

6 Months Ended

Jun. 30, 2023

Guarantees and Product Warranties Disclosure [Abstract]

GUARANTEES AND PRODUCT WARRANTIES

Product Warranties

The Company provides its customers a standard manufacturer’s warranty and records, at the time of the sale, a corresponding estimated liability for potential warranty costs. Estimated future obligations due to warranty claims are based upon historical factors such as labor rates, average repair time, travel time, number of service calls per machine and cost of replacement parts.

Changes in the Company’s warranty liability balance are illustrated in the following table:

	2023		2022
Beginning balance as of January 1	$	28.3	$	36.3
Current period accruals	15.4		4.6
Current period settlements	(18.1)		(6.8)
Currency translation adjustment	0.9		(1.4)
Ending balance as of June 30	$	26.5	$	32.7