XML 73 R44.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Fair Value Measurements Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Financial Assets And Liabilities Measured At Fair Value On a Recurring Basis
The following table summarizes the Company’s assets and liabilities measured on a recurring basis in accordance with the Fair Value Measurements and Disclosures Topic of the ASC:
 
Fair Value at December 31,
2019
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Deferred compensation plan assets (1)
$
61.1

 
$
29.9

 
$
31.2

 
 
Net investment hedge asset (2)
1.5

 
 
 
1.5

 
 
 
$
62.6

 
$
29.9


$
32.7


—

 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
Deferred compensation plan liabilities (3)
$
76.9

 
$
76.9

 

 

 
$
76.9

 
$
76.9

 
—

 
—

(1) 
The deferred compensation plan assets consists of the investment funds maintained for the future payments under the Company’s executive deferred compensation plans, which are structured as rabbi trusts. The investments are marketable securities accounted for under the Debt and Equity Securities Topic of the ASC. The level 1 investments are valued using quoted market prices multiplied by the number of shares. The level 2 investments are valued based on vendor quotes. The cost basis of the investment funds is $54.8 million.
(2) 
The net investment hedge asset is the fair value of the cross currency swap (see Note 1). The fair value is based on a valuation model that uses observable inputs, including interest rate curves and foreign currency rate.
(3) 
The deferred compensation plan liabilities are the Company’s liabilities under its deferred compensation plans. The liabilities represent the fair value of the participant shadow accounts, and the value is based on quoted market prices in active markets for identical assets.
Carrying Amount and Fair Value of Debt
The table below summarizes the carrying amounts and fair values of the Company's publicly traded debt and non-traded debt.
 
December 31,
 
2019
 
2018
 
2017
 
Carrying
Amount
 
Fair
Value
 
Carrying Amount
 
Fair
Value
 
Carrying Amount
 
Fair
Value
Publicly traded debt
$
8,203.2

 
$
8,735.8

 
$
8,731.7

 
$
8,330.2

 
$
8,742.7

 
$
9,054.3

Non-traded debt
277.3

 
270.7

 
283.6

 
272.7

 
1,144.2

 
1,088.6