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

Product Warranties

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Product Warranties
12 Months Ended
Mar. 31, 2016
Guarantees [Abstract]  
Product Warranties

10.  Product Warranties

The Company offers various warranties on its products, including a 30-year limited warranty on certain of its 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:

 

     Years Ended 31 March  
(Millions of US dollars)    2016      2015  

Balance at beginning of period

   $ 35.2         $ 31.4     

Accruals for product warranties

     28.0           16.0     

Settlements made in cash or in kind

     (17.9)          (12.2)    
  

 

 

    

 

 

 

Balance at end of period

   $           45.3         $         35.2