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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following tables present the Company’s financial instruments, assets and liabilities that are measured at fair value on a recurring basis:
 
 
 
 
Fair Value Measurement Using:
 (amounts in millions)
 
December 31, 2016
 
Quoted prices in
active markets
(Level 1)
 
Significant
other observable
inputs (Level 2)
 
Significant
unobservable
inputs (Level 3)
Asset Category
 
 
 
 
 
 
 
 
Cash equivalents
 
$
48.2

 
$
—

 
$
48.2

 
$
—

Available for sale equity securities
 
5.7

 
5.1

 
0.6

 
—

Derivatives
 
8.5

 
—

 
8.5

 
—

Total
 
$
62.4

 
$
5.1

 
$
57.3

 
$
—

Liability Category
 
 

 
 

 
 

 
 

Derivatives
 
$
20.9

 
$
—

 
$
20.9

 
$
—

Long-term contingent consideration
 
75.8

 
—

 
—

 
75.8

Total
 
$
96.7

 
$
—

 
$
20.9

 
$
75.8

 
 
 
 
 
Fair Value Measurement Using:
 (amounts in millions)
 
December 31, 2015
 
Quoted prices in
active markets
(Level 1)
 
Significant
other observable
inputs (Level 2)
 
Significant
unobservable
inputs (Level 3)
Asset Category
 
 
 
 
 
 
 
 
Cash equivalents
 
$
59.4

 
$
2.9

 
$
56.5

 
$
—

Available for sale equity securities
 
6.6

 
5.8

 
0.8

 
—

Derivatives
 
2.1

 
—

 
2.1

 
—

Total
 
$
68.1

 
$
8.7

 
$
59.4

 
$
—

Liability Category
 
 

 
 

 
 

 
 

Derivatives
 
$
13.5

 
$
—

 
$
13.5

 
$
—

Long-term contingent consideration
 
70.7

 
—

 
—

 
70.7

Total
 
$
84.2

 
$
—

 
$
13.5

 
$
70.7
Fair Value, Liabilities Measured on Recurring Basis
The following tables present the Company’s financial instruments, assets and liabilities that are measured at fair value on a recurring basis:
 
 
 
 
Fair Value Measurement Using:
 (amounts in millions)
 
December 31, 2016
 
Quoted prices in
active markets
(Level 1)
 
Significant
other observable
inputs (Level 2)
 
Significant
unobservable
inputs (Level 3)
Asset Category
 
 
 
 
 
 
 
 
Cash equivalents
 
$
48.2

 
$
—

 
$
48.2

 
$
—

Available for sale equity securities
 
5.7

 
5.1

 
0.6

 
—

Derivatives
 
8.5

 
—

 
8.5

 
—

Total
 
$
62.4

 
$
5.1

 
$
57.3

 
$
—

Liability Category
 
 

 
 

 
 

 
 

Derivatives
 
$
20.9

 
$
—

 
$
20.9

 
$
—

Long-term contingent consideration
 
75.8

 
—

 
—

 
75.8

Total
 
$
96.7

 
$
—

 
$
20.9

 
$
75.8

 
 
 
 
 
Fair Value Measurement Using:
 (amounts in millions)
 
December 31, 2015
 
Quoted prices in
active markets
(Level 1)
 
Significant
other observable
inputs (Level 2)
 
Significant
unobservable
inputs (Level 3)
Asset Category
 
 
 
 
 
 
 
 
Cash equivalents
 
$
59.4

 
$
2.9

 
$
56.5

 
$
—

Available for sale equity securities
 
6.6

 
5.8

 
0.8

 
—

Derivatives
 
2.1

 
—

 
2.1

 
—

Total
 
$
68.1

 
$
8.7

 
$
59.4

 
$
—

Liability Category
 
 

 
 

 
 

 
 

Derivatives
 
$
13.5

 
$
—

 
$
13.5

 
$
—

Long-term contingent consideration
 
70.7

 
—

 
—

 
70.7

Total
 
$
84.2

 
$
—

 
$
13.5

 
$
70.7
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following table provides a reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3).
 
 
December 31,
 (amounts in millions)
 
2016
 
2015
Fair value measurements using significant unobservable inputs (Level 3)
 
 
 
 
Beginning balance
 
$
77.2

 
$
83.2

Changes in fair value
 
(7.0
)
 
(6.0
)
Purchases, sales and settlements(1)
 
—

 
—

Transfers into Level 3
 
—

 
—

Transfers out of Level 3
 
—

 
—

Ending balance
 
$
70.2

 
$
77.2

(1) There were no purchases, sales, or settlements, on a gross basis, for the years ended December 31, 2016 and 2015.
The following table provides a reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
 
 
December 31,
 (amounts in millions)
 
2016
 
2015
Fair value measurements using significant unobservable inputs (Level 3)
 
 
 
 
Beginning balance
 
$
70.7

 
$
63.9

Changes in fair value
 
10.1

 
6.8

Purchases, sales and settlements
 
(515.0
)
 
—

Additions
 
510.0

 
—

Transfers into Level 3
 
—

 
—

Transfers out of Level 3
 
—

 
—

Ending balance
 
$
75.8

 
$
70.7
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]
The following table presents the carrying value and estimated fair value of the Company’s long-term debt and capital lease obligations that are not carried at fair value:
 (amounts in millions)
 
December 31, 2016
 
December 31, 2015
 
 
Carrying
Value
 
Fair
Value
 
Carrying
Value
 
Fair
Value
USD Senior Notes, due 2022
 
$
1,083.2

 
$
1,109.2

 
$
1,081.1

 
$
946.3

EUR Senior Notes, due 2023
 
362.4

 
372.1

 
374.0

 
326.7

USD Senior Notes, due 2021
 
489.0

 
555.4

 
487.5

 
500.0

First Lien Credit Facility - U.S. Dollar Term Loans, due 2020
 
582.5

 
616.8

 
2,631.3

 
2,603.6

First Lien Credit Facility - U.S. Dollar Term Loans, due 2021 (1)
 
1,444.2

 
1,493.4

 
—

 
—

First Lien Credit Facility - Euro Term Loans, due 2020
 
726.5

 
742.3

 
619.2

 
624.3

First Lien Credit Facility - Euro Term Loans, due 2021 (1)
 
450.7

 
459.2

 
—

 
—

Capital lease obligations
 
4.6

 
4.7

 
5.5

 
5.3

 
 
$
5,143.1

 
$
5,353.1

 
$
5,198.6

 
$
5,006.2


(1) In the event the Company is able to prepay, redeem or otherwise retire and/or refinance in full its $1.10 billion, 6.50% USD Notes due 2022, as permitted under the Amended and Restated Credit Agreement, on or prior to November 2, 2021, the maturity date will be extended to June 7, 2023 from November 2, 2021.