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Fair Value Measurements and Other Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2015
Fair Value Disclosures [Abstract]  
Fair Value Hierarchy of Financial Instruments

The following table details the fair value hierarchy of our financial instruments:

 

 

 

September 30, 2015

 

(In millions)

 

Total Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Cash equivalents

 

$

7.0

 

 

$

—

 

 

$

7.0

 

 

$

—

 

Derivative financial and hedging instruments net asset

   (liability):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

$

(2.4

)

 

$

—

 

 

$

(2.4

)

 

$

—

 

Foreign currency options

 

$

0.1

 

 

$

—

 

 

$

0.1

 

 

$

—

 

Interest rate and currency swaps

 

$

40.9

 

 

$

—

 

 

$

40.9

 

 

$

—

 

Cross-currency swaps

 

$

(22.2

)

 

$

—

 

 

$

(22.2

)

 

$

—

 

 

 

 

December 31, 2014

 

(In millions)

 

Total Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Cash equivalents

 

$

64.7

 

 

$

—

 

 

$

64.7

 

 

$

—

 

Derivative financial instruments net asset (liability):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

$

(22.4

)

 

$

—

 

 

$

(22.4

)

 

$

—

 

Interest rate and currency swaps

 

$

17.8

 

 

$

—

 

 

$

17.8

 

 

$

—

 

 
Carrying Amounts and Estimated Fair Values of Debt

The table below shows the carrying amounts and estimated fair values of our total debt:

 

 

 

September 30, 2015

 

 

December 31, 2014

 

 

 

Carrying

 

 

Fair

 

 

Carrying

 

 

Fair

 

(In millions)

 

Amount

 

 

Value

 

 

Amount

 

 

Value

 

Term Loan A Facility due July 2017

 

$

249.8

 

 

$

249.7

 

 

$

249.7

 

 

$

249.7

 

Term Loan A Facility due July 2019(1)

 

 

1,112.0

 

 

 

1,112.0

 

 

 

1,129.4

 

 

 

1,129.4

 

6.50% Senior Notes due December 2020

 

 

427.8

 

 

 

469.6

 

 

 

428.1

 

 

 

469.7

 

8.375% Senior Notes due September 2021

 

 

—

 

 

 

—

 

 

 

750.0

 

 

 

843.3

 

4.875% Senior Notes due December 2022

 

 

425.0

 

 

 

420.1

 

 

 

425.0

 

 

 

423.3

 

5.25% Senior Notes due April 2023

 

 

425.0

 

 

 

427.1

 

 

 

425.0

 

 

 

429.6

 

4.50% Senior Notes due September 2023(1)

 

 

449.9

 

 

 

456.0

 

 

 

—

 

 

 

—

 

5.125% Senior Notes due December 2024

 

 

425.0

 

 

 

418.3

 

 

 

425.0

 

 

 

428.5

 

5.50% Senior Notes due September 2025

 

 

400.0

 

 

 

406.0

 

 

 

—

 

 

 

—

 

6.875% Senior Notes due July 2033

 

 

448.7

 

 

 

454.7

 

 

 

448.7

 

 

 

462.9

 

Other foreign loans(1)

 

 

127.7

 

 

 

127.8

 

 

 

73.9

 

 

 

73.8

 

Other domestic loans

 

 

159.2

 

 

 

159.5

 

 

 

59.2

 

 

 

59.2

 

Total debt

 

$

4,650.1

 

 

$

4,700.8

 

 

$

4,414.0

 

 

$

4,569.4

 

  

(1)

Includes borrowings denominated in currencies other than U.S. dollars.