Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present information about our financial instruments measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.



	March 31, 2014												Balance Sheet Classification
	Level 1			Level 2			Level 3			Total			Balance Sheet Classification
Assets
Cash equivalents	$	317.7		$	0.0		$	0.0		$	317.7		Cash and cash equivalents
Short-term marketable securities	5.6			0.0			0.0			5.6			Marketable securities
Long-term investments	1.7			0.0			0.0			1.7			Other assets
Total	$	325.0		$	0.0		$	0.0		$	325.0

As a percentage of total assets	2.8		%	0.0		%	0.0		%	2.8		%

Liabilities
Mandatorily redeemable noncontrolling interests ¹	$	0.0		$	0.0		$	28.9		$	28.9

	December 31, 2013												Balance Sheet Classification
	Level 1			Level 2			Level 3			Total			Balance Sheet Classification
Assets
Cash equivalents	$	761.2		$	0.0		$	0.0		$	761.2		Cash and cash equivalents
Short-term marketable securities	5.3			0.0			0.0			5.3			Marketable securities
Long-term investments	1.6			0.0			0.0			1.6			Other assets
Total	$	768.1		$	0.0		$	0.0		$	768.1

As a percentage of total assets	6.0		%	0.0		%	0.0		%	6.0		%

Liabilities
Mandatorily redeemable noncontrolling interests ¹	$	0.0		$	0.0		$	27.0		$	27.0

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.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents additional information about financial instruments measured at fair value on a recurring basis and for which we utilize Level 3 inputs to determine fair value for the three months ended March 31, 2014.



	Three months ended March 31,
Liabilities	2014			2013
Mandatorily redeemable noncontrolling interests - Balance at beginning of period	$	27.0		$	25.3
Level 3 additions	2.0			0.0
Realized gains included in net loss	(0.1		)	(0.7		)
Mandatorily redeemable noncontrolling interests - Balance at end of period	$	28.9		$	24.6

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.



	March 31, 2014								December 31, 2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Total long-term debt	$	0.0	$	1,398.6	$	89.5	$	1,488.1	$	0.0	$	1,367.5	$	87.8	$	1,455.3

- 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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