Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of the carrying amount and estimated fair value of assets and liabilities measured on recurring basis

March 31 (millions)	2014
	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3
Assets:
Investments held in rabbi trusts	$	3.5	$	3.5	$	—	$	—
Foreign currency forward contracts	14.5		—		14.5		—

Liabilities:
Foreign currency forward contracts	11.3		—		11.3		—
Contingent consideration obligations	15.2		—		—		15.2

December 31 (millions)	2013
	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3
Assets:
Investments held in rabbi trusts	$	4.3	$	4.3	$	—	$	—
Foreign currency forward contracts	20.2		—		20.2		—

Liabilities:
Foreign currency forward contracts	14.2		—		14.2		—
Contingent consideration obligations	16.4		—		—		16.4
Future consideration payable to Champion sellers	86.4		—		—		86.4

Schedule of changes in fair value of contingent consideration

(millions)
Contingent consideration, December 31, 2013	$	16.4
Liabilities recognized at acquisition date	—
Loss (gain) recognized in earnings	(0.1		)
Settlements	(1.2		)
Foreign currency translation	0.1
Contingent consideration, March 31, 2014	$	15.2

Schedule of carrying amount and estimated fair value of long-term debt

	March 31, 2014				December 31, 2013
	Carrying		Fair		Carrying		Fair
(millions)	Amount		Value		Amount		Value

Long-term debt (including current maturities)	$	6,451.6	$	6,785.8	$	6,548.8	$	6,766.0

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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