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Fair Value Measurements of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value Measurements of Assets and Liabilities [Abstract]

Fair Value Measurements of Assets and Liabilities

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


		As of December 31, 2011
						Fair Value Measurements at Reporting Date Using:
Description		Recorded Balance				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		$	324.7			$	–			$	324.7			$	–
U.S. government and agency debt securities			177.2				–				177.2				–
Municipal bonds			1.0				–				1.0				–
Foreign government debt securities			6.8				–				6.8				–
Commercial paper			74.5				–				74.5				–
Certificates of deposit			88.5				–				88.5				–

Total available-for-sale securities			672.7				–				672.7				–
Derivatives, current and long-term
Foreign currency forward contracts and options			18.3				–				18.3				–
Interest rate swaps			27.8				–				27.8				–

		$	718.8			$	–			$	718.8			$	–

Liabilities
Derivatives, current and long-term
Foreign currency forward contracts and options		$	25.2			$	–			$	25.2			$	–
Cross-currency interest rate swaps			8.2				–				8.2				–

		$	33.4			$	–			$	33.4			$	–


ZIMMER HOLDINGS, INC.		2011 FORM 10-K ANNUAL REPORT

Notes to Consolidated Financial Statements (Continued)


		As of December 31, 2010
						Fair Value Measurements at Reporting Date Using:
Description		Recorded Balance				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			$	–

Fair Value Measurements of nonfinancial assets on a nonrecurring basis

The following nonfinancial assets were measured at fair value on a nonrecurring basis (in millions):


						Fair Value Measurements Using:
Description		Year Ended December 31, 2010				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Losses
Goodwill		$	137.0			$	–			$	–			$	137.0			$	204.0

		$	137.0			$	–			$	–			$	137.0			$	204.0


						Fair Value Measurements Using:
Description		Year Ended December 31, 2009				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Losses
Goodwill		$	342.9			$	–			$	–			$	342.9			$	73.0

		$	342.9			$	–			$	–			$	342.9			$	73.0

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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