Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

A summary of our assets and liabilities that are measured at fair value on a recurring basis is as follows:

			Fair value measurements at December 31, 2022 using:
Description	December 31, 2022		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	in millions
Assets:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	1,469.0	$	—	$	1,469.0	$	—
Equity-related derivative instruments	92.4		—		—		92.4
Foreign currency forward and option contracts	1.0		—		1.0		—
Other	0.3		—		0.3		—
Total derivative instruments	1,562.7		—		1,470.3		92.4
Investments:
SMAs	2,854.6		943.2		1,911.4		—
Other investments	1,946.0		399.3		0.1		1,546.6
Total investments	4,800.6		1,342.5		1,911.5		1,546.6
Total assets	$	6,363.3	$	1,342.5	$	3,381.8	$	1,639.0
Liabilities:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	735.5	$	—	$	735.5	$	—
Foreign currency forward and option contracts	11.6		—		11.6		—
Total liabilities	$	747.1	$	—	$	747.1	$	—

			Fair value measurements at December 31, 2021 using:
Description	December 31, 2021		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	in millions
Assets:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	379.2	$	—	$	379.2	$	—
Equity-related derivative instruments	113.8		—		—		113.8
Foreign currency forward and option contracts	28.4		—		9.0		19.4
Other	1.0		—		1.0		—
Total derivative instruments	522.4		—		389.2		133.2
Investments:
SMAs	2,801.3		672.1		2,124.2		5.0
Other investments	2,226.1		747.9		70.8		1,407.4
Total investments	5,027.4		1,420.0		2,195.0		1,412.4
Total assets	$	5,549.8	$	1,420.0	$	2,584.2	$	1,545.6
Liabilities:
Derivative instruments:
Cross-currency and interest rate derivative contracts	$	879.0	$	—	$	846.3	$	32.7
Foreign currency forward and option contracts	13.0		—		13.0		—
Total liabilities	$	892.0	$	—	$	859.3	$	32.7

Schedule of Reconciliation of the Beginning and Ending Balances of Assets and Liabilities Measured at Fair Value Using Significant Unobservable, or Level 3, Inputs

A reconciliation of the beginning and ending balances of our assets and liabilities measured at fair value on a recurring basis using significant unobservable, or Level 3, inputs is as follows:

	Investments		Cross-currency, interest rate and foreign currency derivative contracts		Equity-related derivative instruments		Total
	in millions
Balance of net assets (liabilities) at January 1, 2022	$	1,412.4	$	(13.3)	$	113.8	$	1,512.9
Gains (losses) included in earnings from continuing     operations (a):
Realized and unrealized gains due to changes in fair values of certain investments, net	81.9		—		—		81.9
Realized and unrealized losses on derivative instruments, net	—		—		(21.4)		(21.4)
Additions	98.3		—		—		98.3
Dispositions	(72.7)		—		—		(72.7)
Transfers in to Level 3	57.5		—		—		57.5
Transfers out of Level 3	—		13.3		—		13.3
Foreign currency translation adjustments and other, net	(30.8)		—		—		(30.8)
Balance of net assets at December 31, 2022 (b)	$	1,546.6	$	—	$	92.4	$	1,639.0

_______________

(a)Amounts primarily relate to assets and liabilities that we continue to carry on our consolidated balance sheet as of December 31, 2022.

(b)As of December 31, 2022, $306.7 million of our Level 3 investments were accounted for under the measurement alternative at cost less impairment, adjusted for observable price changes.