Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 30, 2020 and December 31, 2019 (in millions):


	As of September 30, 2020
	Total		Level 1		Level 2		Level 3
Assets
Cash equivalents - money market funds	$	433.0	$	433.0	$	—	$	—

Deferred compensation plan assets	45.7		45.7		—		—
Foreign currency forward contracts	3.1		—		3.1		—




Deferred purchase price receivable	165.7		—		—		165.7
Total	$	647.5	$	478.7	$	3.1	$	165.7
Liabilities
Deferred compensation plan liabilities	$	44.3	$	44.3	$	—	$	—
Foreign currency forward contracts	2.1		—		2.1		—
Interest rate swap agreements	176.3		—		176.3		—
Earn-out liabilities	15.7		—		—		15.7
Total	$	238.4	$	44.3	$	178.4	$	15.7


	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	—		(0.2)
Payments	(11.6)		(23.1)
Balance as of September 30,	$	15.7	$	15.0

Balance as of July 1,	$	24.5	$	25.1
Purchases/additions	—		—
Net change in fair value and other adjustments	(0.6)		(0.3)
Payments	(8.2)		(9.8)
Balance as of September 30,	$	15.7	$	15.0