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FAIR VALUE (Tables)
9 Months Ended
Sep. 30, 2014
Financial Instruments Carried at Fair Value on Recurring Basis
Fair Value Measurement as of September 30, 2014
DescriptionBalanceLevel 1Level 2Level 3
Assets:
Derivatives (a)$ 24.8$ -$ 24.8$ -
Fixed maturity and open ended mutual funds (b) 43.4 43.4 - -
Total$ 68.2$ 43.4$ 24.8$ -
Liabilities:
Derivatives (a)$ 8.5$ -$ 8.5$ -
Contingent consideration arising from acquisitions (c) 13.3 - - 13.3
Total$ 21.8$ -$ 8.5$ 13.3
Fair Value Measurement as of December 31, 2013
DescriptionBalanceLevel 1Level 2Level 3
Assets:
Derivatives (a)$ 20.5$ -$ 20.5$ -
Total$ 20.5$ -$ 20.5$ -
Liabilities:
Derivatives (a)$ 1.7$ -$ 1.7$ -
Contingent consideration arising from acquisitions (c) 17.5 - - 17.5
Total$ 19.2$ -$ 1.7$ 17.5
Changes in Fair Value of Level Three Liabilities
Contingent Consideration
Nine Months Ended
September 30,
20142013
Balance as of January 1$ 17.5$ 9.0
Contingent consideration payments (4.3) (2.5)
Total losses (realized and unrealized):
Included in earnings 0.3 6.0
Foreign currency translation adjustments (0.2) (0.1)
Balance as of September 30$ 13.3$ 12.4