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Product Support Liabilities (Tables)
3 Months Ended
Mar. 31, 2016
Product Warranties Disclosures [Abstract]  
Changes in Product Support Liabilities

Changes in product support liabilities are summarized as follows:

 

                           

Warranty Reserves

   2016     2015  

Balance at January 1

   $ 346.2      $ 310.8   

Cost accruals

     52.3        74.7   

Payments

     (61.5     (55.2

Change in estimates for pre-existing warranties

     4.6        (2.1

Currency translation

     2.1        (10.8
  

 

 

   

 

 

 

Balance at March 31

   $ 343.7      $ 317.4   
  

 

 

   

 

 

 

Deferred Revenues on Extended Warranties and R&M Contracts

   2016     2015  

Balance at January 1

   $ 524.8      $ 462.0   

Deferred revenues

     94.3        90.5   

Revenues recognized

     (65.9     (61.4

Currency translation

     5.8        (22.3
  

 

 

   

 

 

 

Balance at March 31

   $ 559.0      $ 468.8