Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Product Warranties

v3.20.1
Product Warranties
 12 Months Ended
Mar. 31, 2020
Guarantees [Abstract]  
Product Warranties Product Warranties
The Company offers various warranties on its products, including a 30-year limited warranty on certain fiber cement siding products in the United States. A typical warranty program requires the Company to replace defective products within a specified time period from the date of sale. It is possible that future warranty costs could differ from those estimates.
The following are the changes in the product warranty provision:
 
31 March
(Millions of US dollars)
2020
 
2019
 
2018
Balance at beginning of period
$
46.6

 
$
52.8

 
$
46.6

Increase (Decrease) in product warranties accrual
0.8

 
(0.8
)
 
13.1

Acquired during the period
—

 
0.5

 
—

Settlements made in cash or in kind
(5.0
)
 
(5.9
)
 
(6.9
)
Balance at end of period
$
42.4

 
$
46.6

 
$
52.8