FAIR VALUE MEASUREMENT (Tables)

6 Months Ended

Jun. 30, 2016

Financial Assets and Liabilities that are Recorded at Fair Value and Classified Based on the Lowest Level of Input

The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at June 30, 2016 and December 31, 2015, which are classified as Cash and cash equivalents, Prepaid expenses and other current assets, net, Other noncurrent assets, net, Accrued liabilities, and Other noncurrent liabilities in the Consolidated Balance Sheets. Financial assets and liabilities that are recorded at fair value as of the balance sheet date are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.



	June 30, 2016
(in millions)	Total		Level 1		Level 2		Level 3

Assets
Foreign exchange forward contracts	22.3		—		22.3		—
Total assets	$	22.3	$	—	$	22.3	$	—

Liabilities
Interest rate swaps	$	1.7	$	—	$	1.7	$	—
Foreign exchange forward contracts	14.8		—		14.8		—
Contingent considerations on acquisitions	7.5		—		—		7.5
Total liabilities	$	24.0	$	—	$	16.5	$	7.5



	December 31, 2015
(in millions)	Total		Level 1		Level 2		Level 3

Assets
Interest rate swaps	$	0.1	$	—	$	0.1	$	—
Foreign exchange forward contracts	35.9		—		35.9		—
Total assets	$	36.0	$	—	$	36.0	$	—

Liabilities
Interest rate swaps	$	1.2	$	—	$	1.2	$	—
Commodity contracts	0.1		—		0.1		—
Foreign exchange forward contracts	10.3		—		10.3		—
Long-term debt	45.1		—		45.1		—
Total liabilities	$	56.7	$	—	$	56.7	$	—

Reconciliation of Level 3 Holdings Measured at Fair Value on a Recurring Basis Using Unobservable Inputs

The following table presents a reconciliation of the Company’s Level 3 holdings measured at fair value on a recurring basis using unobservable inputs:




(in millions)

Balance, February 29, 2016	$	7.6
Unrealized gain:
Reported in Other expense (income), net	0.1
Effect of exchange rate changes	(0.2		)
Balance at June 30, 2016	$	7.5