Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.23.2
Commitments and Contingencies (Tables)
 6 Months Ended
Jul. 01, 2023
Commitments and Contingencies Disclosure [Abstract]  
Product Warranty Liabilities
The following activity related to product warranty liabilities was recorded in Accrued expenses during the six months ended July 1, 2023 and July 2, 2022:
(in millions) July 1, 2023 July 2, 2022
Balance at beginning of period $ 146.7  $ 129.3 
Payments (40.2) (29.2)
Provisions/additions for contracts issued/sold 45.9  41.1 
Aggregate changes for preexisting warranties 2.7  (0.2)
Foreign currency translation 0.5  (1.3)
Other 1.4  (0.9)
Balance at end of period $ 157.0  $ 138.8 
Extended Product Warranty Liabilities
The following activity related to deferred revenue for extended product warranty contracts was recorded in Accrued expenses and Other long-term liabilities during the six months ended July 1, 2023 and July 2, 2022:
(in millions) July 1, 2023 July 2, 2022
Balance at beginning of period $ 112.5  $ 99.5 
Extended warranty contracts sold 22.6  20.1 
Revenue recognized on existing extended warranty contracts (12.8) (11.0)
Foreign currency translation 0.2  — 
Other (0.2) (0.3)
Balance at end of period $ 122.3  $ 108.3