Guarantees (Tables)

6 Months Ended

Jul. 02, 2011

Financial Guarantees

The Company’s financial guarantees at July 2, 2011 are as follows (in millions):

(Millions of Dollars)	Term	Maximum Potential Payment		Carrying Amount of Liability
Financial guarantees as of July 2, 2011:
Guarantees on the residual values of leased properties	One to four years		$    32.8		$    —
Guarantee on the residual value of aircraft	Less than nine years		24.2		—
Standby letters of credit	Up to three years		71.9		—
Commercial customer financing arrangements	Up to six years		23.1		12.8
Total			$  152.0		$  12.8

Changes in the carrying Amount of Product and Service Warranties

The changes in the carrying amount of product and service warranties for the six months ended July 2, 2011 and July 3, 2010 are as follows (in millions):

	2011		2010
Balance beginning of period		$  119.6		$    67.4
Warranties and guarantees issued		49.4		33.4
Liability assumed in the Merger		9.5		51.5
Warranty payments		(50.4)		(32.9)
Foreign currency translation and other		9.1		(6.1)
Balance end of period		$ 137.2		$  113.3