XML 92 R78.htm IDEA: XBRL DOCUMENT v3.22.0.1
Fair Value Measurements Fair Value of Assets and Liabilities Measured on a Recurring Basis (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following tables present information about our financial instruments measured at fair value on a recurring basis as of December 31, 2021 and 2020, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 December 31, 2021Balance Sheet Classification
 Level 1Level 2Level 3Total
Assets
Cash equivalents 1
$2,391.8 $0.0 $0.0 $2,391.8 Cash and cash equivalents
Liabilities
Contingent acquisition obligations 2
$0.0 $0.0 $33.5 $33.5 Accrued liabilities and Other non-current liabilities
 December 31, 2020Balance Sheet Classification
 Level 1Level 2Level 3Total
Assets
Cash equivalents 1
$1,382.4 $0.0 $0.0 $1,382.4 Cash and cash equivalents
Liabilities
Contingent acquisition obligations 2
$0.0 $0.0 $95.5 $95.5 Accrued liabilities and Other non-current liabilities
1The majority of the increase from December 31, 2020 to December 31, 2021 in cash equivalents is primarily related to increased U.S. investments in money market and time deposits to improve yield and diversify counterparty risk driven by higher levels of excess cash near year-end.
2Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional noncontrolling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $62.0 from December 31, 2020 to December 31, 2021 is primarily due to payments related to our deferred acquisitions from prior-year acquisitions and the effect of the deconsolidation of a previously consolidated entity, partially offset by the exercises of redeemable non-controlling interest and valuation adjustments in our consolidated subsidiaries. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.