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Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2018
Fair Value Disclosures [Abstract]  
Schedule of effects of risk-management instruments were recognized in other–net, (income) expense
The following effects of risk-management instruments were recognized in other–net, (income) expense:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2018
 
2017
 
2018
 
2017
Fair value hedges:
 
 
 
 
 
 
 
Effect from hedged fixed-rate debt
$
(19.6
)
 
$
(4.0
)
 
$
(94.1
)
 
$
3.6

Effect from interest rate contracts
19.6

 
4.0

 
94.1

 
(3.6
)
Cash flow hedges:
 
 
 
 
 
 
 
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss
3.7

 
3.7

 
11.1

 
11.1

Net losses on foreign currency exchange contracts not designated as hedging instruments
0.7

 
16.3

 
76.5

 
79.2
Schedule of effective portion of risk-management instruments that was recognized in other comprehensive income (loss)
The effective portion of risk-management instruments that was recognized in other comprehensive income (loss) is as follows:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2018
 
2017
 
2018
 
2017
Net investment hedges:
 
 
 
 
 
 
 
    Foreign currency-denominated notes
$
(47.8
)
 
$
(58.7
)
 
$
53.0

 
$
(332.0
)
    Cross-currency interest rate swaps
14.7

 
(38.2
)
 
52.3

 
(95.8
)
Cash flow hedges:
 
 
 
 
 
 
 
    Forward-starting interest rate swaps
—

 
—

 
—

 
13.0
Summary certain fair value information
The following tables summarize certain fair value information at September 30, 2018 and December 31, 2017 for assets and liabilities measured at fair value on a recurring basis, as well as the carrying amount and amortized cost of certain other investments: 
 
 
 
 
 
Fair Value Measurements Using
 
 
 
Carrying
Amount
 
Cost (1)
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Fair
Value
September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents
$
6,646.3

 
$
6,646.3

 
$
6,646.3

 
$
—

 
$
—

 
$
6,646.3

 
 
 
 
 
 
 
 
 
 
 
 
Short-term investments:
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agency securities
$
10.5

 
$
10.6

 
$
10.5

 
$
—

 
$
—

 
$
10.5

Corporate debt securities
52.7

 
52.7

 
—

 
52.7

 
—

 
52.7

Asset-backed securities
11.5

 
11.6

 
—

 
11.5

 
—

 
11.5

Other securities
1.4

 
1.4

 
—

 
1.4

 
—

 
1.4

Short-term investments
$
76.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noncurrent investments:
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agency securities
$
152.0

 
$
159.6

 
$
152.0

 
$
—

 
$
—

 
$
152.0

Corporate debt securities
622.0

 
631.5

 
—

 
622.0

 
—

 
622.0

Mortgage-backed securities
109.5

 
114.1

 
—

 
109.5

 
—

 
109.5

Asset-backed securities
27.0

 
27.3

 
—

 
27.0

 
—

 
27.0

Other securities
137.4

 
39.3

 
—

 
—

 
137.4

 
137.4

Marketable equity securities
287.9

 
146.4

 
287.9

 
—

 
—

 
287.9

Equity investments without readily determinable fair values (2)
394.7

 
 
 
 
 
 
 
 
 
 
Equity method investments (2)
275.3

 
 
 
 
 
 
 
 
 
 
Noncurrent investments
$
2,005.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents
$
4,763.9

 
$
4,763.9

 
$
4,712.4

 
$
51.5

 
$
—

 
$
4,763.9

 
 
 
 
 
 
 
 
 
 
 
 
Short-term investments:
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agency securities
$
217.8

 
$
218.2

 
$
217.8

 
$
—

 
$
—

 
$
217.8

Corporate debt securities
1,182.3

 
1,183.2

 
—

 
1,182.3

 
—

 
1,182.3

Asset-backed securities
94.2

 
94.3

 
—

 
94.2

 
—

 
94.2

Other securities
3.6

 
3.6

 
—

 
3.6

 
—

 
3.6

Short-term investments
$
1,497.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noncurrent investments:
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agency securities
$
360.0

 
$
365.0

 
$
360.0

 
$
—

 
$
—

 
$
360.0

Corporate debt securities
3,464.3

 
3,473.5

 
—

 
3,464.3

 
—

 
3,464.3

Mortgage-backed securities
202.4

 
204.2

 
—

 
202.4

 
—

 
202.4

Asset-backed securities
653.9

 
656.0

 
—

 
653.9

 
—

 
653.9

Other securities
132.1

 
66.4

 
—

 
—

 
132.1

 
132.1

Marketable equity securities
281.3

 
131.0

 
281.3

 
—

 
—

 
281.3

Cost and equity method investments (2)
584.8

 
 
 
 
 
 
 
 
 
 
Noncurrent investments
$
5,678.8

 
 
 
 
 
 
 
 
 
 

(1) For available-for-sale debt securities, amounts disclosed represent the securities' amortized cost.
(2) Fair value disclosures are not applicable for equity method investments and investments accounted for under the measurement alternative for equity investments that do not have readily determinable fair values.
Summary certain fair value information, liabilities
 
 
 
Fair Value Measurements Using
 
 
 
Carrying
Amount
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant
Other Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Fair
Value
Short-term commercial paper borrowings
 
 
 
 
 
 
 
 
 
September 30, 2018
$
(399.7
)
 
$
—

 
$
(398.4
)
 
$
—

 
$
(398.4
)
December 31, 2017
(2,696.8
)
 
—

 
(2,690.6
)
 
—

 
(2,690.6
)
Long-term debt, including current portion
 
 
 
 
 
 
 
 
 
September 30, 2018
$
(12,277.1
)
 
$
—

 
$
(12,542.2
)
 
$
—

 
$
(12,542.2
)
December 31, 2017
(10,950.3
)
 
—

 
(11,529.9
)
 
—

 
(11,529.9
)
Fair value, by balance sheet grouping
 
 
 
Fair Value Measurements Using
 
 
 
Carrying
Amount
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant
Other Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Fair
Value
September 30, 2018
 
 
 
 
 
 
 
 
 
Risk-management instruments:
 
 
 
 
 
 
 
 
 
Interest rate contracts designated as fair value hedges:
 
 
 
 
 
 
 
 
 
Other current liabilities
$
(2.7
)
 
$
—

 
$
(2.7
)
 
$
—

 
$
(2.7
)
Other noncurrent liabilities
(66.5
)
 
—

 
(66.5
)
 
—

 
(66.5
)
Cross-currency interest rate contracts designated as net investment hedges:
 
 
 
 
 
 
 
 
 
Other receivables
30.3

 
—

 
30.3

 
—

 
30.3

Sundry
6.9

 
—

 
6.9

 
—

 
6.9

Other current liabilities
(16.6
)
 
—

 
(16.6
)
 
—

 
(16.6
)
Foreign exchange contracts not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Other receivables
6.3

 
—

 
6.3

 
—

 
6.3

Other current liabilities
(14.0
)
 
—

 
(14.0
)
 
—

 
(14.0
)
Contingent consideration liabilities:
 
 
 
 
 
 
 
 
 
Other current liabilities
(62.0
)
 
—

 
—

 
(62.0
)
 
(62.0
)
Other noncurrent liabilities
(41.4
)
 
—

 
—

 
(41.4
)
 
(41.4
)
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
Risk-management instruments:
 
 
 
 
 
 
 
 
 
Interest rate contracts designated as fair value hedges:
 
 
 
 
 
 
 
 
 
Other receivables
$
0.8

 
$
—

 
$
0.8

 
$
—

 
$
0.8

Sundry
35.1

 
—

 
35.1

 
—

 
35.1

Other current liabilities
(0.2
)
 
—

 
(0.2
)
 
—

 
(0.2
)
Other noncurrent liabilities
(10.5
)
 
—

 
(10.5
)
 
—

 
(10.5
)
Cross-currency interest rate contracts designated as net investment hedges:
 
 
 
 
 
 
 
 
 
Other current liabilities
(33.4
)
 
—

 
(33.4
)
 
—

 
(33.4
)
Other noncurrent liabilities
(26.0
)
 
—

 
(26.0
)
 
—

 
(26.0
)
Foreign exchange contracts not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Other receivables
26.8

 
—

 
26.8

 
—

 
26.8

Other current liabilities
(36.0
)
 
—

 
(36.0
)
 
—

 
(36.0
)
Contingent consideration liabilities (1):
 
 
 
 
 
 
 
 
 
Other current liabilities
(208.0
)
 
—

 
—

 
(208.0
)
 
(208.0
)
Other noncurrent liabilities
(45.2
)
 
—

 
—

 
(45.2
)
 
(45.2
)
(1) Contingent consideration liabilities primarily relate to the Erbitux arrangement with BMS discussed in Note 4.
Summary the contractual maturities of our investments in debt securities measured at fair value
A summary of the fair value of available-for-sale securities in an unrealized gain or loss position and the amount of unrealized gains and losses (pretax) in accumulated other comprehensive loss follows: 
 
September 30, 2018
 
December 31, 2017
Unrealized gross gains
$
2.1

 
$
184.7

Unrealized gross losses
24.4

 
47.5

Fair value of securities in an unrealized gain position
164.0

 
1,434.2

Fair value of securities in an unrealized loss position
816.7

 
4,692.8

The table below summarizes the contractual maturities of our investments in debt securities measured at fair value as of September 30, 2018:
 
Maturities by Period
  
Total
 
Less Than
1 Year
 
1-5
Years
 
6-10
Years
 
More Than
10 Years
Fair value of debt securities
$
985.1

 
$
74.7

 
$
620.5

 
$
135.4

 
$
154.5
Summary of the amount of unrealized gains and losses (pretax) recognized in our statement of operations for equity securities
A summary of the unrealized gains and losses (pretax) recognized in our consolidated condensed statements of operations for equity securities held as of September 30, 2018 is as follows:
 
Three Months Ended
September 30,
Nine Months Ended
September 30,
Unrealized gain (loss), net
$
(40.8
)
$
(3.4
)
Activity related to our investment portfolio, substantially all of which related to equity and available-for-sale securities
Activity related to our investment portfolio, substantially all of which related to equity and available-for-sale securities, was as follows:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2018
 
2017
 
2018
 
2017
Proceeds from sales
$
52.0

 
$
951.5

 
$
5,598.4

 
$
3,003.0

Realized gross gains on sales
0.4

 
9.0

 
8.1

 
82.9

Realized gross losses on sales
0.7

 
0.8

 
49.7

 
3.2