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Fair Value Measurement (Tables)
 3 Months Ended
Mar. 31, 2016
Fair Value Disclosures [Abstract]  
Summary of Financial Assets and Liability by Fair Value Hierarchy Level
The following table shows, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis at March 31, 2016 and December 31, 2015 (in millions):
Asset (Liability)
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Quoted Prices in
Active Markets for
Similar Assets
(Level 2)
Unobservable inputs for which little or no market data exists (Level 3)
Total

March 31, 2016
 
 
 
 
Money market funds(a)
$
168.7

$
—

$
—

$
168.7

Available for sale investments
—

51.7

4.9

56.6

Trading securities
9.7

—

—

9.7

Deferred compensation plan liabilities
(9.7
)
—

—

(9.7
)
Derivatives:
 
 
 
 
Forward exchange contracts-Assets
—

0.4

—

0.4

Forward exchange contracts-(Liabilities)
—

(1.1
)
—

(1.1
)
Total 
$
168.7

$
51.0

$
4.9

$
224.6

 
 
 
 
 
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Quoted Prices in
Active Markets for
Similar Assets
(Level 2)
Unobservable inputs for which little or no market data exists (Level 3)
Total

December 31, 2015
 
 
 
 
Money market funds(a)
$
210.9

$
—

$
—

$
210.9

Available for sale investments
—

47.4

4.6

52.0

Trading securities
9.7

—

—

9.7

Deferred compensation plan liabilities
(9.7
)
—

—

(9.7
)
Derivatives:
 
 
 
 
Forward exchange contracts-Assets
—

2.5

—

2.5

Forward exchange contracts-(Liabilities)
—

(0.1
)
—

(0.1
)
Total
$
210.9

$
49.8

$
4.6

$
265.3

(a) Money market funds are reflected in Cash and cash equivalents in the Condensed Consolidated Balance Sheet.
Summary of Fair Value of Derivative Instruments in the Consolidated Balance Sheet
The fair values of derivative instruments in the Condensed Consolidated Balance Sheet are as follows (in millions):
 
 
Assets
Liabilities
 
Fair Value
Derivatives designated as hedges (Assets)
Balance Sheet Location
March 31, 2016

December 31, 2015

Balance Sheet Location
March 31, 2016

December 31, 2015

Forward exchange contracts designated as cash flow hedges
Other current assets
$
0.4

$
2.5

Other Current Liabilities
$
1.1

$
—
Summary of the Results of Cash Flow Hedging Relationships
The following table summarizes the results of cash flow hedging relationships for the three months ended March 31, 2016 and 2015 (in millions):
 
 
Derivative Gain/(Loss) Recognized in
Accumulated Other Comprehensive
Loss (net of tax)
Location of Gain/(Loss)
Reclassified into Income
Gain/(Loss) Reclassified into
Earnings (Effective Portion)
Derivative Instrument
2016

2015

(Effective Portion)
2016

2015

Forward exchange contract
$
(1.5
)
$
1.2

Cost of goods sold
$
0.8

$
0.7