Fair Value Measurements (Notes)

12 Months Ended

Dec. 31, 2011

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Fair Value Measurements

Authoritative guidance for fair value measurements establishes a fair value hierarchy which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We primarily apply the market approach for recurring fair value measurements. There are three levels of inputs that may be used to measure fair value:

Level 1	Unadjusted quoted prices in active markets for identical assets or liabilities. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
Level 2	Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3	Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

There were no changes to our valuation techniques used to measure the fair value of assets and liabilities on a recurring basis during 2011 as compared to the prior year.

The following tables present information about our assets and liabilities measured at fair value on a recurring basis as of December 31, 2011, and December 31, 2010, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.

	December 31, 2011												Balance Sheet Classification
	Level 1			Level 2			Level 3			Total
Assets
Cash equivalents	$	1,596.5		$	0.0		$	0.0		$	1,596.5		Cash and cash equivalents
Short-term marketable securities	12.9			0.0			0.0			12.9			Marketable securities
Long-term investments	1.3			9.0			0.0			10.3			Other assets
Total	$	1,610.7		$	9.0		$	0.0		$	1,619.7
As a percentage of total assets	12.5		%	0.1		%	0.0		%	12.6		%
Liabilities
Mandatorily redeemable noncontrolling interests 1	$	0.0		$	0.0		$	58.9		$	58.9
	December 31, 2010												Balance Sheet Classification
	Level 1			Level 2			Level 3			Total
Assets
Cash equivalents	$	1,744.4		$	0.0		$	0.0		$	1,744.4		Cash and cash equivalents
Short-term marketable securities	13.7			0.0			0.0			13.7			Marketable securities
Long-term investments	1.3			13.8			0.0			15.1			Other assets
Total	$	1,759.4		$	13.8		$	0.0		$	1,773.2
As a percentage of total assets	13.5		%	0.1		%	0.0		%	13.6		%
Liabilities
Mandatorily redeemable noncontrolling interests 1	$	0.0		$	0.0		$	52.0		$	52.0

¹  Relates to unconditional obligations to purchase additional noncontrolling equity shares of consolidated subsidiaries. Fair value measurement of the obligation was based upon the amount payable as if the forward contracts were settled. The amount redeemable within the next twelve months is classified in accrued liabilities; any interests redeemable thereafter are classified in other non-current liabilities.

The following tables present additional information about assets and liabilities measured at fair value on a recurring basis and for which we utilize Level 3 inputs to determine fair value.

	Years ended December 31,
	2011			2010
	Liabilities			Assets			Liabilities
	Mandatorily redeemable noncontrolling interests			Foreign currency derivatives			Mandatorily redeemable noncontrolling interests
Balance at beginning of period	$	52.0		$	0.6		$	47.8
Level 3 additions	28.1			0.0			2.7
Level 3 reductions	(28.0		)	0.0			(2.9		)
Realized losses included in net income	(6.7		)	(0.6		)	(4.4		)
Foreign currency translation	0.1			0.0			0.0
Balance at end of period	$	58.9		$	0.0		$	52.0

Level 3 additions relate to unconditional obligations to purchase additional equity interests in previous acquisitions for cash in future periods. Level 3 reductions primarily consist of cash payments made related to unconditional obligations to purchase additional equity interests in previous acquisitions, which are classified within the financing section of the Consolidated Statements of Cash Flows. Realized losses included in net income for mandatorily redeemable noncontrolling interests and foreign currency derivatives are reported as a component of interest expense and other income, net, respectively, in the Consolidated Statements of Operations.

Gross unrealized and realized gains and losses for our long-term investments and short-term marketable securities are listed below.

	Years ended December 31,
	2011		2010		2009
Reported in comprehensive income
Unrealized gains	$	0.3	$	0.5	$	0.9
Unrealized losses	0.4		0.0		0.5
Reported in other income, net
Realized gains	$	0.0	$	0.2	$	1.0
Realized losses	0.3		0.0		0.6