Fair Value Measurement of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements of Assets and Liabilities Related to Continuing Operations

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

	As of March 31, 2022
			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 designated as hedges, current and long-term
Foreign currency forward contracts	$	64.2	$	-	$	64.2	$	-
Cross-currency interest rate swaps		31.2		-		31.2		-
Investment in ZimVie		111.4		111.4		-		-
Total Assets	$	206.8	$	111.4	$	95.4	$	-
Liabilities
Derivatives designated as hedges, current and long-term
Foreign currency forward contracts	$	0.6	$	-	$	0.6	$	-
Cross-currency interest rate swaps		3.4		-		3.4		-
Interest rate swaps		78.9		-		78.9		-
Contingent payments related to acquisitions		32.2		-		-		32.2
Total Liabilities	$	115.1	$	-	$	82.9	$	32.2

	As of December 31, 2021
			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 designated as hedges, current and long-term
Foreign currency forward contracts	$	52.4	$	-	$	52.4	$	-
Cross-currency interest rate swaps	$	23.0			$	23.0
Derivatives not designated as hedges, current and long-term
Foreign currency forward contracts		1.1		-		1.1		-
Total Assets	$	76.5	$	-	$	76.5	$	-
Liabilities
Derivatives designated as hedges, current and long-term
Foreign currency forward contracts	$	0.3	$	-	$	0.3	$	-
Cross-currency interest rate swaps		3.4		-		3.4		-
Interest rate swaps		10.5				10.5
Derivatives not designated as hedges, current and long-term
Foreign currency forward contracts		1.5		-		1.5		-
Contingent payments related to acquisitions		35.6		-		-		35.6
Total Liabilities	$	51.3	$	-	$	15.7	$	35.6

Fair Value Liabilities Measured on Recurring Basis Related to Continuing Operations

The following table provides a reconciliation of the beginning and ending balances of items related to continuing operations 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, 2021	$	35.6
Change in estimates		0.2
Settlements		(3.5	)
Foreign currency impact		(0.1	)
Ending balance March 31, 2022	$	32.2