Product Warranty Reserves

6 Months Ended

Jun. 30, 2023

Product Warranties Disclosures [Abstract]

Product Warranty Reserves

Product Warranty Reserves

The Company warrants its products against manufacturing defects and performance to specified standards. The warranty period and performance standards vary by market and uses of its products, but generally range from three months to two years or up to a specified number of hours of operation. The Company estimates the costs that may be incurred under its warranties and records a liability at the time product sales are recorded. The product warranty liability is primarily based on historical claim rates, nature of claims and the associated cost.

Changes in the Company's product warranty liability for the three and six month periods ended June 30, 2023 and 2022 are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2023		2022		2023		2022
Reserve balance, beginning of the period	$	12.4	$	11.3	$	11.9	$	10.5
Warranty liabilities accrued	6.7		3.2		10.6		6.4
Warranty liabilities settled	(2.6)		(2.8)		(6.0)		(5.2)
Other	—		(0.1)		—		(0.1)
Reserve balance, end of the period	$	16.5	$	11.6	$	16.5	$	11.6