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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Schedule of fair value
The fair value of the Company’s financial assets and liabilities that are required to be measured on a recurring basis at fair value was as follows:
 
 
 
December 31, 2017
 
December 31, 2016
 
 
Fair Value Measurements Using
 
Fair Value Measurements Using
 
 
Level 1
Level 2
 
Level 3
 
Level 1
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
 
 
 
Short-term investments (1)
 
$
1.0

—

 
—

 
$
4.0

—

 
—

Interest rate swap agreements
 
—

—

 
—

 
—

$
0.0

 
—

Embedded derivative in lease agreement
 
—

—

 
$
12.4

 
—

—

 
$
13.3

Liabilities:
 
 
 
 
 
 
 
 
 
 
Interest rate swap agreements
 
—

$
29.0

 
—

 
—

$
24.7

 
—

Acquisition-related contingent consideration
 
—

—

 
$
10.1

 
—

—

 
$
15.4

Fair value of debt related to interest rate swap agreements
 
$
(24.5
)
—

 
—

 
$
(22.3
)
—

 
—


_______________
(1)
Consists of highly liquid investments with original maturities in excess of three months.
Schedule of contingent consideration changes
A summary of the value of the Company’s contingent consideration obligations are as follows:
 
 
 
 
 
 
Year Ended December 31, 2017
 
 
Maximum
potential value (1)
 
Estimated value at
December 31, 2017
 
Additions
 
Settlements
 
Change in Fair Value
Colombia
 
$
—

 
$
—

 
$
—

 
$
—

 
$
(5.4
)
Ghana
 
0.6

 
0.6

 
—

 
—

 
0.0
South Africa
 
9.1

 
9.1

 
—

 
—

 
(0.9
)
United States
 
0.4

 
0.4

 
—

 
—

 
0.0
Total
 
$
10.1

 
$
10.1

 
$
—

 
$
—

 
$
(6.3
)
_______________
(1)
The maximum potential value is based on exchange rates at December 31, 2017. The minimum value would be no less than $9.1 million.
The changes in fair value of the contingent consideration were as follows during the years ended December 31,:
 
 
2017
 
2016
Balance as of January 1
$
15.4

 
$
12.4

Additions
—

 
8.8

Settlements
—

 
(0.3
)
Change in fair value
(6.3
)
 
(6.4
)
Foreign currency translation adjustment
1.0

 
0.9

Balance as of December 31
$
10.1

 
$
15.4