Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016 and December 31, 2015, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.



	March 31, 2016												Balance Sheet Classification
	Level 1			Level 2			Level 3			Total			Balance Sheet Classification
Assets
Cash equivalents	$	154.5		$	0.0		$	0.0		$	154.5		Cash and cash equivalents
Short-term marketable securities	6.9			0.0			0.0			6.9			Marketable securities
Long-term investments	0.5			0.0			0.0			0.5			Other non-current assets
Total	$	161.9		$	0.0		$	0.0		$	161.9

As a percentage of total assets	1.4		%	0.0		%	0.0		%	1.4		%

Liabilities
Mandatorily redeemable noncontrolling interests ¹	$	0.0		$	0.0		$	56.9		$	56.9

	December 31, 2015												Balance Sheet Classification
	Level 1			Level 2			Level 3			Total			Balance Sheet Classification
Assets
Cash equivalents	$	875.7		$	0.0		$	0.0		$	875.7		Cash and cash equivalents
Short-term marketable securities	6.8			0.0			0.0			6.8			Marketable securities
Long-term investments	0.4			0.0			0.0			0.4			Other non-current assets
Total	$	882.9		$	0.0		$	0.0		$	882.9

As a percentage of total assets	7.0		%	0.0		%	0.0		%	7.0		%

Liabilities
Mandatorily redeemable noncontrolling interests ¹	$	0.0		$	0.0		$	45.0		$	45.0

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 utilized Level 3 inputs to determine fair value for the three months ended March 31, 2016 and 2015.



	Three months ended March 31,
Liabilities	2016			2015
Mandatorily redeemable noncontrolling interests - Balance at beginning of period	$	45.0		$	32.8
Level 3 additions	10.4			15.0
Level 3 reductions	(0.1		)	(1.4		)
Realized losses included in net income	1.8			0.4
Foreign currency translation	(0.2		)	0.0
Mandatorily redeemable noncontrolling interests - Balance at end of period	$	56.9		$	46.8

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, 2016 and December 31, 2015, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.



	March 31, 2016								December 31, 2015
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Total long-term debt	$	0.0	$	1,571.5	$	74.3	$	1,645.8	$	0.0	$	1,531.4	$	75.2	$	1,606.6