FAIR VALUE MEASUREMENT (Tables)

6 Months Ended

Jun. 30, 2020

FAIR VALUE MEASUREMENTS

Schedule of fair value hierarchy for assets measured at fair value on a recurring basis

The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019 (in millions):

	June 30, 2020
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities	$	155.6	$	155.6	$	—	$	—
Marketable securities:
Mutual funds		13.1		13.1		—		—
Money market funds		7.8		7.8		—		—
Total assets	$	176.5	$	176.5	$	—	$	—
Liabilities:
Contingent consideration liabilities	$	20.5	$	—	$	—	$	20.5
Total Liabilities	$	20.5	$	—	$	—	$	20.5

	December 31, 2019
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities	$	47.6	$	47.6	$	—	$	—
Marketable securities:
Mutual funds		15.7		15.7		—		—
Money market funds		7.7		7.7		—		—
Total assets	$	71.0	$	71.0	$	—	$	—
Liabilities:
Contingent consideration liabilities	$	2.2	$	—	$	—	$	2.2
Total Liabilities	$	2.2	$	—	$	—	$	2.2

Schedule of fair value hierarchy of financial instruments held

The following table presents the Company’s fair value hierarchy for certain assets and liabilities held by the Company as of June 30, 2020 and December 31, 2019 (in millions):

	June 30, 2020
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities	$	155.6	$	155.6	$	—	$	—
Deferred compensation plan assets		20.9		20.9		—		—
Total assets	$	176.5	$	176.5	$	—	$	—
Liabilities:
Contingent consideration liabilities	$	20.5	$	—	$	—	$	20.5
Deferred compensation plan liabilities		20.9		20.9		—		—
Debt		868.6		—		868.6		—
Total liabilities	$	910.0	$	20.9	$	868.6	$	20.5

	December 31, 2019
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities	$	47.6	$	47.6	$	—	$	—
Deferred compensation plan assets		23.4		23.4		—		—
Total assets	$	71.0	$	71.0	$	—	$	—
Liabilities:
Contingent consideration liabilities	$	2.2	$	—	$	—	$	2.2
Deferred compensation plan liabilities		23.4		23.4		—		—
Debt		867.6		—		867.6		—
Total liabilities	$	893.2	$	23.4	$	867.6	$	2.2

Summary of changes in the fair value of level 3 financial liabilities

The following table sets forth a summary of changes in the fair value of the Company’s Level 3 financial liabilities during the three and six months ended June 30, 2020.

	Level 3 Financial Liabilities for the Three Months Ended June 30, 2020
	Balance at		Realized (gains)
	Beginning of		losses during						Balance at
	Period		period		Additions		Settlements		End of Period
Liabilities
Contingent consideration liabilities	$	17.5	$	—	$	3.0	$	—	$	20.5
Total Liabilities	$	17.5	$	—	$	3.0	$	—	$	20.5

	Level 3 Financial Liabilities for the Six Months Ended June 30, 2020
	Balance at		Realized (gains)
	Beginning of		losses during						Balance at
	Period		period		Additions		Settlements		End of Period
Liabilities
Contingent consideration liabilities	$	2.2	$	—	$	20.5	$	(2.2)	$	20.5
Total Liabilities	$	2.2	$	—	$	20.5	$	(2.2)	$	20.5