Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions):

	Fair Value Measurements as of March 31, 2021
Asset (Liability)	Total		Level 1		Level 2		Level 3
Non-qualified deferred compensation assets	$	51.2	$	51.2	$	—	$	—
Total assets at fair value	$	51.2	$	51.2	$	—	$	—
Non-qualified deferred compensation liabilities	$	(51.2)	$	(51.2)	$	—	$	—
Foreign exchange contracts, net	(3.5)		—		(3.5)		—
Interest rate contracts, net	(15.1)		—		(15.1)		—
Total liabilities at fair value	$	(69.8)	$	(51.2)	$	(18.6)	$	—
	Fair Value Measurements as of December 31, 2020
Asset (Liability)	Total		Level 1		Level 2		Level 3
Non-qualified deferred compensation assets	$	48.3	$	48.3	$	—	$	—
Total assets at fair value	$	48.3	$	48.3	$	—	$	—
Non-qualified deferred compensation liabilities	$	(48.3)	$	(48.3)	$	—	$	—
Foreign exchange contracts, net	(2.3)		—		(2.3)		—
Interest rate contracts, net	(18.1)		—		(18.1)		—
Total liabilities at fair value	$	(68.7)	$	(48.3)	$	(20.4)	$	—

Schedule of major components of inventories

The major components of inventories are as follows (in millions):

	March 31, 2021		December 31, 2020
Raw materials and purchased components	$	616.4	$	533.5
Service parts, garments and accessories	327.0		330.5
Finished goods	467.2		381.3
Less: reserves	(70.7)		(67.7)
Inventories	$	1,339.9	$	1,177.6

Schedule of activity in the warranty reserve

The activity in the warranty reserve during the periods presented was as follows (in millions):

	Three months ended March 31,
	2021		2020
Balance at beginning of period	$	140.8	$	136.2
Additions charged to expense	34.6		24.2
Warranty claims paid, net	(35.5)		(27.6)
Balance at end of period	$	139.9	$	132.8