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Fair Value Measurements of Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2014
Fair Value Disclosures [Abstract]  
Fair Value Measurement 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, 2014  
          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

  $ 516.5      $      $ 516.5      $   

U.S. government and agency debt securities            

    194.3               194.3          

Commercial paper

    57.8               57.8          

Certificates of deposit

    100.3               100.3          

 

   

 

 

   

 

 

   

 

 

 

Total available-for-sale securities

    868.9               868.9          

Derivatives, current and long-term

       

Foreign currency forward contracts and options

    125.5               125.5          

Interest rate swaps

    24.0               24.0          

 

   

 

 

   

 

 

   

 

 

 
  $ 1,018.4      $      $ 1,018.4      $   

 

   

 

 

   

 

 

   

 

 

 

Liabilities

       

Derivatives, current and long-term

       

Foreign currency forward contracts and options

    1.7               1.7          

Forward starting interest rate swaps

    59.3               59.3          

 

   

 

 

   

 

 

   

 

 

 
  $ 61.0      $      $ 61.0      $   

 

   

 

 

   

 

 

   

 

 

 

 

    As of December 31, 2013  
          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

  $ 457.9      $      $ 457.9      $   

U.S. government and agency debt securities

    211.2               211.2          

Foreign government debt securities            

    3.1               3.1          

Commercial paper

    68.3               68.3          

Certificates of deposit

    67.2               67.2          

 

   

 

 

   

 

 

   

 

 

 

Total available-for-sale securities

    807.7               807.7          

Derivatives, current and long-term

       

Foreign currency forward contracts and options

    68.7               68.7          

Interest rate swaps

    16.3               16.3          

 

   

 

 

   

 

 

   

 

 

 
  $ 892.7      $      $ 892.7      $   

 

   

 

 

   

 

 

   

 

 

 

Liabilities

       

Derivatives, current and long-term

       

Foreign currency forward contracts and options

    20.6               20.6          

Interest rate swaps

    7.0               7.0          

 

   

 

 

   

 

 

   

 

 

 
  $ 27.6      $      $ 27.6      $   

 

   

 

 

   

 

 

   

 

 

 
Schedule of Nonfinancial Assets Measured at Fair Value on Nonrecurring Basis

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

 

            Fair Value Measurements Using:         
Description    Total     

Quoted Prices
in Active
Markets for
Identical
Assets

(Level 1)

     Significant
Other
Observable
Inputs
(Level 2)
    

Significant
Unobservable
Inputs

(Level 3)

     Total
Losses
 

Year Ended December 31, 2014

  

        

Indefinite-lived intangible assets

   $ 34.2       $       $       $ 34.2       $ 14.2   

Year Ended December 31, 2013

  

        

Indefinite-lived intangible assets

   $ 21.0       $       $       $ 21.0       $ 2.8   

Year Ended December 31, 2012

  

        

Goodwill

   $ 41.0       $       $       $ 41.0       $ 96.0   

Indefinite-lived intangible        assets

     24.2                         24.2         11.6