FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis

The following table summarizes the Company's financial instruments which are measured at fair value on a recurring basis as of December 31, 2022 and 2021 (in millions):


December 31, 2022	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	0.4	$	—	$	—	$	0.4
Available-for-sale investments:

Corporate debt securities	—		980.3		—		980.3
Asset-backed securities	—		366.6		—		366.6
United States government and agency securities	37.1		94.5		—		131.6


Municipal securities	—		2.5		—		2.5

Investments held for deferred compensation plans	112.1		—		—		112.1
Derivatives	—		65.5		—		65.5
	$	149.6	$	1,509.4	$	—	$	1,659.0
Liabilities
Derivatives	$	—	$	27.2	$	—	$	27.2

Contingent consideration liabilities	—		—		26.2		26.2
Other liability	—		—		14.0		14.0
	$	—	$	27.2	$	40.2	$	67.4

December 31, 2021
Assets
Cash equivalents	$	15.2	$	30.7	$	—	$	45.9
Available-for-sale investments:
Bank time deposits	—		2.5		—		2.5
Corporate debt securities	—		1,390.8		—		1,390.8
Asset-backed securities	—		512.6		—		512.6
United States government and agency securities	28.4		118.9		—		147.3

Commercial paper	—		127.7		—		127.7
Municipal securities	—		2.8		—		2.8

Investments held for deferred compensation plans	130.7		—		—		130.7
Derivatives	—		55.3		—		55.3
	$	174.3	$	2,241.3	$	—	$	2,415.6
Liabilities
Derivatives	$	—	$	3.9	$	—	$	3.9

Contingent consideration liabilities	—		—		62.0		62.0
Other liability	—		—		14.0		14.0
	$	—	$	3.9	$	76.0	$	79.9

Schedule of Changes in Fair Value of Contingent Consideration Obligation

The following table summarizes the changes in fair value of the contingent consideration and the other liability for the years ended December 31, 2022 and 2021 (in millions):


	Contingent Consideration		Other Liability		Total
Fair value, December 31, 2020	$	186.1	$	—	$	186.1
Additions	—		14.0		14.0

Changes in fair value	(124.1)		—		(124.1)

Fair value, December 31, 2021	$	62.0	$	14.0	$	76.0


Changes in fair value	(35.8)		—		(35.8)

Fair value, December 31, 2022	$	26.2	$	14.0	$	40.2