Fair Value Measurements (Tables)

3 Months Ended

Apr. 01, 2017

Carrying Value and Estimated Fair Values of Outstanding Debt

The carrying values and estimated fair values of our significant outstanding debt as of April 1, 2017 and December 31, 2016 were as follows:


	April 1, 2017				December 31, 2016
(in millions of U.S. dollars)	Carrying Value		Fair Value		Carrying Value		Fair Value
6.750% senior notes due in 2020 ^1, 3	$	416.9	$	437.0	$	615.7	$	647.7
10.000% senior notes due in 2021 ^{1, 2}		382.6		375.4		384.2		383.7
5.375% senior notes due in 2022 ^{1, 3}		518.1		535.5		517.9		534.2
5.500% senior notes due in 2024 ^{1, 3}		471.1		509.5		464.3		505.5
5.500% senior notes due in 2025 ^{1, 3}		738.4		763.1		—		—

Total	$	2,527.1	$	2,620.5	$	1,982.1	$	2,071.1

^1.	The fair values were based on the trading levels and bid/offer prices observed by a market participant and are considered Level 1 financial instruments.

^2.

The outstanding aggregate principal amount of $350.0 million of our DSS Notes was assumed by Cott at a fair value of $406.0 million in connection with Cott’s acquisition of DSS. The premium of $56.0 million is being amortized as an adjustment to interest expense using the effective interest method over the remaining contractual term of the DSS Notes. The remaining unamortized premium was $32.6 million and $34.2 million at April 1, 2017 and December 31, 2016, respectively.

^3.	The carrying value of our significant outstanding debt is net of unamortized debt issuance costs of $34.0 million and $26.4 million as of April 1, 2017 and December 31, 2016, respectively.

Schedule of Business Acquisitions, Reconciliation of Fair Value of Contingent Consideration

The following table provide a reconciliation of the beginning and ending balance of this liability for the three months ended April 2, 2016.


(in millions of U.S. dollars)	For the Three Months Ended April 2, 2016
Fair value at beginning of period	$	16.4
Foreign exchange gain		(0.5	)

Fair value at end of period	$	15.9