The following table summarizes the Company’s restructuring accrual balances and related activity:
Balance at January 1, 2014
$
31.7

Liabilities incurred
11.6

Liabilities paid/settled
(35.7
)
Balance at December 31, 2014
$
7.6

Liabilities incurred
21.2

Liabilities paid/settled
(24.1
)
Balance at December 31, 2015
$
4.7

Liabilities incurred
59.4

Liabilities acquired
45.5

Liabilities paid/settled
(19.7
)
Balance at December 31, 2016
$
89.9