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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2013
Fair Value Measurements  
Schedule of estimated fair value of assets and liabilities measured on recurring basis

June 30 (millions)

 

2013

 

 

 

Carrying

 

Fair Value Measurements

 

 

 

Amount

 

Level 1

 

Level 2

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Investments held in rabbi trusts

 

$

5.6

 

$

5.6

 

$

 

$

 

Foreign currency forward contracts

 

18.3

 

 

18.3

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

14.0

 

 

14.0

 

 

Contingent consideration obligations

 

17.1

 

 

 

17.1

 

Estimated future consideration payable to Champion sellers

 

83.9

 

 

 

 

 

83.9

 

 

December 31 (millions)

 

2012

 

 

 

Carrying

 

Fair Value Measurements

 

 

 

Amount

 

Level 1

 

Level 2

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Money market funds held in rabbi trusts

 

$

2.2

 

$

2.2

 

$

 

$

 

Foreign currency forward contracts

 

6.5

 

 

6.5

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

9.9

 

 

9.9

 

 

Contingent consideration obligations

 

23.2

 

 

 

23.2

 

Schedule of changes in fair value of contingent consideration

(millions)

 

 

 

Contingent consideration, December 31, 2012

 

$

27.3

 

Liabilities recognized at acquisition date

 

 

Loss (gain) recognized in earnings

 

(0.5

)

Settlements

 

(9.8

)

Foreign currency translation

 

0.1

 

Contingent consideration, June 30, 2013

 

$

17.1

 

Carrying amount and estimated fair value of long-term debt

(millions)

 

June 30, 2013

 

December 31, 2012

 

 

 

Carrying

 

Fair

 

Carrying

 

Fair

 

 

 

Amount

 

Value

 

Amount

 

Value

 

 

 

 

 

 

 

 

 

 

 

Long-term debt (including current maturities)

 

$

6,803.7

 

$

7,071.1

 

$

5,903.7

 

$

6,417.6