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Fair Value Measurements of Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [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, 2016  
          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

        

Derivatives, current and long-term

        

Foreign currency forward contracts

   $ 65.3     $ –     $ 65.3     $ –  

Interest rate swaps

     4.0       –       4.0       –  

 

    

 

 

    

 

 

    

 

 

  
  $ 69.3     $ –     $ 69.3     $ –  

 

    

 

 

    

 

 

    

 

 

  

Liabilities

        

Derivatives, current and long-term

        

Foreign currency forward contracts

   $ 0.3     $ –     $ 0.3     $ –  

Contingent payments related to acquisitions

     62.8       –       –       62.8  

 

    

 

 

    

 

 

    

 

 

  
  $ 63.1     $ –     $ 0.3     $ 62.8  

 

    

 

 

    

 

 

    

 

 

  

 

    As of December 31, 2015  
          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

   $ 245.4     $ –     $ 245.4     $ –  

U.S. government and agency debt securities

     21.5       –       21.5       –  

Commercial paper

     4.2       –       4.2       –  

Certificates of deposit

     2.0       –       2.0       –  

 

    

 

 

    

 

 

    

 

 

  

Total available-for-sale securities

     273.1       –       273.1       –  

Derivatives, current and long-term

        

Foreign currency forward contracts

     96.9       –       96.9       –  

Interest rate swaps

     26.8       –       26.8       –  

 

    

 

 

    

 

 

    

 

 

  
  $ 396.8     $ –     $ 396.8     $ –  

 

    

 

 

    

 

 

    

 

 

  

Liabilities

        

Derivatives, current and long-term

        

Foreign currency forward contracts

     1.6       –       1.6       –  

 

    

 

 

    

 

 

    

 

 

  
  $ 1.6     $ –     $ 1.6     $ –