Fair Value Measurement of Assets and Liabilities

9 Months Ended

Sep. 30, 2011

Fair Value Measurement of Assets and Liabilities [Abstract]

Fair Value Measurement of Assets and Liabilities

8. Fair Value Measurement of Assets and Liabilities

The following assets and liabilities are recorded at fair value on a recurring basis (in millions):

Description	As of September 30, 2011
	Recorded Balance		Fair Value Measurements at Reporting Date Using:
			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Available-for-sale securities
Corporate debt securities	$	308.6	$	—	$	308.6	$	—
U.S. government and agency debt securities		83.9		—		83.9		—
Municipal bonds		1.0		—		1.0		—
Foreign government debt securities		7.5		—		7.5		—
Commercial paper		49.5		—		49.5		—
Certificates of deposit		135.6		—		135.6		—
Total available-for-sale securities		586.1		—		586.1		—
Derivatives, current and long-term
Foreign currency forward contracts and options		16.0		—		16.0		—
Interest rate swaps		26.7		—		26.7		—
	$	628.8	$	—	$	628.8	$	—
Liabilities
Derivatives, current and long-term
Foreign currency forward contracts and options	$	34.5	$	—	$	34.5	$	—
Cross-currency interest rate swaps		11.2		—		11.2		—
	$	45.7	$	—	$	45.7	$	—

Description	As of December 31, 2010
	Recorded Balance		Fair Value Measurements at Reporting Date Using:
			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Available-for-sale securities
Corporate debt securities	$	203.8	$	—	$	203.8	$	—
U.S. government and agency debt securities		47.9		—		47.9		—
Municipal bonds		1.1		—		1.1		—
Foreign government debt securities		10.3		—		10.3		—
Commercial paper		16.1		—		16.1		—
Certificates of deposit		131.4		—		131.4		—
Total available-for-sale securities		410.6		—		410.6		—
Derivatives, current and long-term
Foreign currency forward contracts and options		34.5		—		34.5		—
Interest rate swaps		1.5		—		1.5		—
	$	446.6	$	—	$	446.6	$	—
Liabilities
Derivatives, current and long-term
Foreign currency forward contracts and options	$	40.0	$	—	$	40.0	$	—
	$	40.0	$	—	$	40.0	$	—

We value our available-for-sale securities using a market approach based on broker prices for identical assets in over-the-counter markets and assess counterparty credit risk.

We value our foreign currency forward contracts and foreign currency options using a market approach based on foreign currency exchange rates obtained from active markets and perform ongoing assessments of counterparty credit risk.

We value our interest rate swaps using a market approach based on publicly available market yield curves and the terms of our swaps and assess counterparty credit risk.

We value our cross-currency interest rate swaps using a market approach based upon publicly available market yield curves, foreign currency exchange rates obtained from active markets and the terms of our swaps. We also perform ongoing assessments of counterparty credit risk.