Fair Value Measurement of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2018

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 March 31, 2018
			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	$	0.6	$	-	$	0.6	$	-
Interest rate swaps		8.3		-		8.3		-
Total Assets	$	8.9	$	-	$	8.9	$	-
Liabilities
Derivatives, current and long-term
Foreign currency forward contracts	$	73.1	$	-	$	73.1	$	-
Contingent payments related to acquisitions		26.9		-		-		26.9
Total Liabilities	$	100.0	$	-	$	73.1	$	26.9

	As of December 31, 2017
			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	$	1.6	$	-	$	1.6	$	-
Interest rate swaps		4.5		-		4.5		-
Total Assets	$	6.1	$	-	$	6.1	$	-

Liabilities
Derivatives, current and long-term
Foreign currency forward contracts	$	50.9	$	-	$	50.9	$	-
Contingent payments related to acquisitions		41.0		-		-		41.0
Total Liabilities	$	91.9	$	-	$	50.9	$	41.0

Summary of Reconciliation of Items Measured at Fair Value on Recurring Basis

The following table provides a reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis in the tables above that used significant unobservable inputs (Level 3) (in millions):

	Level 3 - Liabilities
Contingent payments related to acquisitions
Beginning balance December 31, 2017	$	41.0
Change in estimate		0.5
Settlements		(14.6	)
Ending balance March 31, 2018	$	26.9