Leases And Commitments

3 Months Ended

12 Months Ended

Mar. 31, 2017

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Leases And Commitments

COMMITMENTS AND CONTINGENCIES

For a description of the Company’s litigation and contingencies, reference is made to Note 16 of the Company’s financial statements as of and for the year ended December 31, 2016 included in the Company’s 2016 Annual Report on Form 10-K.

The Company generally accrues estimated warranty costs at the time of sale. In general, manufactured products are warranted against defects in material and workmanship when properly used for their intended purpose, installed correctly, and appropriately maintained. Warranty period terms depend on the nature of the product and range from 90 days up to the life of the product. The amount of the accrued warranty liability is determined based on historical information such as past experience, product failure rates or number of units repaired, estimated cost of material and labor, and in certain instances estimated property damage. The accrued warranty liability is reviewed on a quarterly basis and may be adjusted as additional information regarding expected warranty costs becomes known.

The following is a rollforward of the Company’s accrued warranty liability ($ in millions):

Balance, December 31, 2016	$	75.8
Accruals for warranties issued during the period	12.3
Settlements made	(13.9		)
Effect of foreign currency translation	0.7
Balance, March 31, 2017	$	74.9

LEASES AND COMMITMENTS

The Company’s operating leases extend for varying periods of time up to 20 years and, in some cases, contain renewal options that would extend existing terms beyond 20 years. Total rent expense for all operating leases was $220 million, $209 million and $181 million for the years ended December 31, 2016, 2015 and 2014, respectively.

The Company’s future minimum rental payments for all operating leases having initial or remaining noncancelable lease terms in excess of one year are as follows ($ in millions):

2017	$	187.0
2018	148.6
2019	118.5
2020	88.4
2021	60.6
Thereafter	137.9

The Company generally accrues estimated warranty costs at the time of sale. In general, manufactured products are warranted against defects in material and workmanship when properly used for their intended purpose, installed correctly, and appropriately maintained. Warranty periods depend on the nature of the product and range from 90 days up to the life of the product. The amount of the accrued warranty liability is determined based on historical information such as past experience, product failure rates or number of units repaired, estimated cost of material and labor, and in certain instances estimated property damage. The accrued warranty liability is reviewed on a quarterly basis and may be adjusted as additional information regarding expected warranty costs becomes known.

The following is a rollforward of the Company’s accrued warranty liability ($ in millions):

	2016			2015
Balance, January 1	$	73.8		$	73.0
Accruals for warranties issued during the year	62.3			58.9
Settlements made	(61.2		)	(62.7		)
Additions due to acquisitions	1.4			7.8
Effect of foreign currency translation	(0.5		)	(3.2		)
Balance, December 31	$	75.8		$	73.8