| Accrued Liabilities Accrued liabilities as of June 30, 2026 and December 31, 2025 consisted of the following. | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Salaries, wages and related fringe benefits | $ | 226.7 | | | $ | 238.1 | | | Contract liabilities | 332.0 | | | 347.2 | | | Product warranty | 54.6 | | | 54.1 | | | Operating lease liabilities | 64.3 | | | 64.8 | | | Restructuring | 25.9 | | | 39.9 | | | Taxes | 89.0 | | | 108.5 | | | Accrued interest | 39.6 | | | 33.1 | | | Other | 211.1 | | | 183.1 | | | Total accrued liabilities | $ | 1,043.2 | | | $ | 1,068.8 | |
A reconciliation of the changes in the accrued product warranty liability for the three and six month periods ended June 30, 2026 and 2025 are as follows. | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Month Period Ended June 30, | | For the Six Month Period Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Balance at beginning of period | $ | 54.3 | | | $ | 62.7 | | | $ | 54.1 | | | $ | 67.9 | | | Product warranty accruals | 9.8 | | | 4.7 | | | 18.2 | | | 6.0 | | | | | | | | | | | Settlements | (9.3) | | | (8.2) | | | (17.2) | | | (15.5) | | | Foreign currency translation and other | (0.2) | | | 1.8 | | | (0.5) | | | 2.6 | | | Balance at end of period | $ | 54.6 | | | $ | 61.0 | | | $ | 54.6 | | | $ | 61.0 | |
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