Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Financial Instruments

Schedule of carrying amount and estimated fair market value of the company's long-term debt, including current portion

	2019		2018
	(in millions)
Carrying amount	$	310.0	$	355.0
Estimated fair value	$	310.5	$	355.4

Schedule of fair value of financial assets and liabilities

	Fair Value Measurement at December 31, 2019 Using:
			Quoted Prices in Active		Significant Other		Significant
			Markets for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
	(in millions)
Assets
Plan asset for deferred compensation(1)	$	2.5	$	2.5	$	—	$	—
Interest rate swaps (1)	$	1.2	$	—	$	1.2	$	—
Total assets	$	3.7	$	2.5	$	1.2	$	—
Liabilities
Plan liability for deferred compensation(2)	$	2.5	$	2.5	$	—	$	—
Designated foreign currency hedges (4)	$	0.2	$	—	$	0.2	$	—
Total liabilities	$	2.7	$	2.5	$	0.2	$	—

	Fair Value Measurements at December 31, 2018 Using:
			Quoted Prices in Active		Significant Other		Significant
			Markets for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
	(in millions)
Assets
Plan asset for deferred compensation(1)	$	2.6	$	2.6	$	—	$	—
Interest rate swaps (1)	$	6.5	$	—	$	6.5	$	—
Total assets	$	9.1	$	2.6	$	6.5	$	—
Liabilities
Plan liability for deferred compensation(2)	$	2.6	$	2.6	$	—	$	—
Redeemable financial instrument(3)	$	2.8	$	—	$	—	$	2.8
Total liabilities	$	5.4	$	2.6	$	—	$	2.8

(1) Included on the Company’s consolidated balance sheet in other assets (other, net).

(2) Included on the Company’s consolidated balance sheet in accrued compensation and benefits.

(3) Included on the Company’s consolidated balance sheet in other current liabilities and relates to a mandatorily redeemable equity instrument as part of the acquisition of Apex Valves Limited (“Apex”) in 2015.

(4) Included on the Company’s consolidated balance sheet in accrued expenses and other liabilities.