Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

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


	As of June 30, 2020
	Total		Level 1		Level 2		Level 3
Assets
Cash equivalents - money market funds	$	302.6	$	302.6	$	—	$	—

Deferred compensation plan assets	46.8		46.8		—		—
Foreign currency forward contracts	0.1		—		0.1		—




Deferred purchase price receivable	158.8		—		—		158.8
Total	$	508.3	$	349.4	$	0.1	$	158.8
Liabilities
Deferred compensation plan liabilities	$	48.0	$	48.0	$	—	$	—
Foreign currency forward contracts	0.9		—		0.9		—
Interest rate swap agreements	189.6		—		189.6		—
Earn-out liabilities	24.5		—		—		24.5
Total	$	263.0	$	48.0	$	190.5	$	24.5


	As of December 31, 2019
	Total		Level 1		Level 2		Level 3
Assets
Cash equivalents - money market funds	$	206.9	$	206.9	$	—	$	—
Deferred compensation plan assets	54.9		54.9		—		—
Foreign currency forward contracts	1.0		—		1.0		—



Deferred purchase price receivable	66.9		—		—		66.9
Total	$	329.7	$	261.8	$	1.0	$	66.9
Liabilities
Deferred compensation plan liabilities	$	51.3	$	51.3	$	—	$	—
Foreign currency forward contracts	2.2		—		2.2		—

Interest rate swap agreements	97.7		—		97.7		—
Earn-out liabilities	24.6		—		—		24.6
Total	$	175.8	$	51.3	$	99.9	$	24.6

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The table below presents a reconciliation of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in millions):


	Earn-out Liabilities
	2020		2019
Balance as of January 1,	$	24.6	$	38.3
Purchases/additions	2.7		—
Net change in fair value and other adjustments	0.6		0.1
Payments	(3.4)		(13.3)
Balance as of June 30,	$	24.5	$	25.1

Balance as of April 1,	$	26.6	$	38.5
Purchases/additions	—		—
Net change in fair value and other adjustments	1.2		(0.1)
Payments	(3.3)		(13.3)
Balance as of June 30,	$	24.5	$	25.1