FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2020

Financial Assets And Liabilities Measured At Fair Value On a Recurring Basis

The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis, categorized using the fair value hierarchy:


	June 30, 2020
	Total Fair Value		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⁾	$	61.8	$	31.5	$	30.3

	$	61.8	$	31.5	$	30.3	$	—

Liabilities:
Deferred compensation plan liabilities ⁽²⁾	$	76.2	$	76.2
Net investment hedge liability ⁽³⁾	14.2				$	14.2
	$	90.4	$	76.2	$	14.2	$	—


	December 31, 2019
	Total Fair Value		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 ⁽³⁾	1.5				1.5
	$	62.6	$	29.9	$	32.7	$	—

Liabilities:
Deferred compensation plan liabilities ⁽²⁾	$	76.9	$	76.9

	$	76.9	$	76.9	$	—	$	—

⁽¹⁾The deferred compensation plan assets consist 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 Topics 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 or broker models. The cost basis of the investment funds was $57.3 million and $54.8 million at June 30, 2020 and December 31, 2019, respectively.

⁽²⁾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.

⁽³⁾The net investment hedge liability and asset are the fair value of the cross currency swaps (see Note 12). The fair value is based on a valuation model that uses observable inputs, including interest rate curves and foreign currency rates.

Schedule of Debt

The table below summarizes the carrying amounts and fair values of the Company's debt. The Company's publicly traded debt and non-publicly traded debt are classified as level 1 and level 2, respectively, in the fair value hierarchy.


	June 30, 2020						December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Publicly traded debt	$	8,265.4	$	9,248.9	$	8,203.2	$	8,735.8
Non-publicly traded debt	24.7		24.4		277.3		270.7