Organization and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Activity in the limited warranty reserve

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


	For the Years Ended December 31,
	2021		2020		2019
Balance at beginning of year	$	140.8	$	136.2	$	121.8
Additions to reserve related to acquisitions	—		—		8.8
Reductions to reserve related to divestitures	(2.1)		—		—
Additions charged to expense	130.4		123.7		122.9
Warranty claims paid, net	(134.0)		(119.1)		(117.3)
Balance at end of year	$	135.1	$	140.8	$	136.2

Schedule of assets and liabilities measured at fair value on a recurring basis

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


	Fair Value Measurements as of December 31, 2021
Asset (Liability)	Total		Level 1		Level 2		Level 3
Non-qualified deferred compensation assets	$	52.4	$	52.4	$	—	$	—
Foreign exchange contracts, net	2.1		—		2.1		—

Total assets at fair value	$	54.5	$	52.4	$	2.1	$	—
Non-qualified deferred compensation liabilities	$	(52.4)	$	(52.4)	$	—	$	—

Interest rate contracts, net	(7.8)		—		(7.8)		—
Total liabilities at fair value	$	(60.2)	$	(52.4)	$	(7.8)	$	—

	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):


	December 31, 2021		December 31, 2020
Raw materials and purchased components	$	720.2	$	533.5
Service parts, garments and accessories	417.7		330.5
Finished goods	588.2		381.3
Less: reserves	(81.3)		(67.7)
Inventories	$	1,644.8	$	1,177.6

Schedule of property and equipment

The major components of property and equipment are as follows (in millions):


	December 31, 2021		December 31, 2020
Land, buildings and improvements	$	532.2	$	517.2
Equipment and tooling	1,672.2		1,499.5
	2,204.4		2,016.7
Less: accumulated depreciation	(1,229.0)		(1,127.9)
Property and equipment, net	$	975.4	$	888.8

Schedule of activity in the warranty reserve

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


	For the Years Ended December 31,
	2021		2020		2019
Balance at beginning of year	$	107.1	$	81.6	$	59.9
New contracts sold	66.6		60.4		49.6
Less: reductions for revenue recognized	(47.3)		(34.9)		(27.9)
Balance at end of year (1)	$	126.4	$	107.1	$	81.6

(1) The unamortized ESC premiums recorded in other current liabilities totaled $44.0 million and $37.8 million as of December 31, 2021 and 2020, respectively, while the amount recorded in other long-term liabilities totaled $82.4 million and $69.3 million as of December 31, 2021 and 2020, respectively.