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Product Warranties
 6 Months Ended
Jun. 30, 2022
Guarantees and Product Warranties [Abstract]  
Product Warranties Product Warranties
The Company offers warranties on the sales of certain of its products with terms that are consistent with the market and records an accrual for the estimated future claims. The increase in the reserve for product warranties as of June 30, 2022 compared to June 30, 2021 was primarily due to increased steel prices and the acquisition of Giant. Refer to Note 3, "Acquisitions", for additional information regarding the acquisition of Giant.
The following table presents the Company’s warranty liability activity:
(dollars in millions)Three Months Ended
June 30,
20222021
Balance at April 1,$182.9 $141.6 
Expense14.7 15.3 
Claims settled(17.6)(12.0)
Balance at June 30,$180.0 $144.9 
(dollars in millions)Six Months Ended
June 30,
20222021
Balance at January 1,$184.4 $142.3 
Expense28.6 27.9 
Claims settled(33.0)(25.3)
Balance at June 30,$180.0 $144.9