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FAIR VALUE MEASUREMENTS
6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Fair Value Measurements
FAIR VALUE MEASUREMENTS

The Company’s population of financial assets and liabilities subject to fair value measurements as of June 30, 2013 and December 31, 2012 is as follows:

 
 
 
Fair Value Measurements as of
 
Fair Value
as of
 
June 30, 2013
 
 
Using Fair Value Hierarchy
 
June 30, 2013
 
Level 1
 
Level 2
 
Level 3
Noncontrolling interest put
$
20.4

 
$

 
$
20.4

 
$


 
 
 
Fair Value Measurements as of
 
Fair Value
as of
 
December 31, 2012
 
 
Using Fair Value Hierarchy
 
December 31, 2012
 
Level 1
 
Level 2
 
Level 3
Noncontrolling interest put
$
20.7

 
$

 
$
20.7

 
$



The Company has a noncontrolling interest put related to its Ontario subsidiary. The contractual value of the remaining put, in excess of the current noncontrolling interest of $4.9, totals $15.5 at June 30, 2013 and has been classified as mezzanine equity in the Company’s condensed consolidated balance sheet. The noncontrolling interest put is valued at its contractually determined value, which approximates fair value.

The carrying amounts of cash and cash equivalents, accounts receivable, income taxes receivable, and accounts payable are considered to be representative of their respective fair values due to their short-term nature. The fair market value of the zero-coupon subordinated notes, based on market pricing, was approximately $167.7 and $179.1 as of June 30, 2013 and December 31, 2012, respectively. The fair market value of the senior notes, based on market pricing, was approximately $2,221.6 and $2,720.5 as of June 30, 2013 and December 31, 2012, respectively. The Company's note and debt instruments are considered level 2 instruments, as the fair market values of these instruments are determined using other observable inputs.