XML 38 R29.htm IDEA: XBRL DOCUMENT v3.22.1
Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2022
Fair Value of Financial Instruments  
Schedule of financial instruments measured at fair value on a recurring basis The following tables set forth the Company’s financial instruments measured at fair value on a recurring basis and present them within the fair value hierarchy using the lowest level of input that is significant to the fair value measurement (in millions):

 

March 31, 2022

 

Total

 

 

Quoted Prices
in Active
Markets
Available
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Time deposits and money market funds

 

$

301.1

 

 

$

 

 

$

301.1

 

 

$

 

Short-term investments

 

 

100.0

 

 

 

 

 

 

100.0

 

 

 

 

Interest rate and cross currency swap agreements

 

 

17.3

 

 

 

 

 

 

17.3

 

 

 

 

Forward currency contracts

 

 

0.3

 

 

 

 

 

 

0.3

 

 

 

 

Embedded derivatives in purchase and delivery contracts

 

 

0.1

 

 

 

 

 

 

0.1

 

 

 

 

Fixed price commodity contracts

 

 

0.7

 

 

 

 

 

 

0.7

 

 

 

 

Debt securities available for sale

 

 

1.2

 

 

 

 

 

 

 

 

 

1.2

 

Total assets recorded at fair value

 

$

420.7

 

 

$

 

 

$

419.5

 

 

$

1.2

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

6.8

 

 

$

 

 

$

 

 

$

6.8

 

Hybrid instruments liability

 

 

40.0

 

 

 

 

 

 

 

 

 

40.0

 

Interest rate and cross currency swap agreements

 

 

15.7

 

 

 

 

 

 

15.7

 

 

 

 

Forward currency contracts

 

 

0.2

 

 

 

 

 

 

0.2

 

 

 

 

Long-term fixed interest rate debt

 

 

854.8

 

 

 

 

 

 

854.8

 

 

 

 

Total liabilities recorded at fair value

 

$

917.5

 

 

$

 

 

$

870.7

 

 

$

46.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

Total

 

 

Quoted Prices
in Active
Markets
Available
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Time deposits and money market funds

 

$

367.7

 

 

$

 

 

$

367.7

 

 

$

 

Short-term investments

 

 

100.0

 

 

 

 

 

 

100.0

 

 

 

 

Interest rate and cross currency swap agreements

 

 

6.4

 

 

 

 

 

 

6.4

 

 

 

 

Forward currency contracts

 

 

0.7

 

 

 

 

 

 

0.7

 

 

 

 

Embedded derivatives in purchase and delivery contracts

 

 

0.2

 

 

 

 

 

 

0.2

 

 

 

 

Fixed price commodity contracts

 

 

0.4

 

 

 

 

 

 

0.4

 

 

 

 

Debt securities available for sale

 

 

1.2

 

 

 

 

 

 

 

 

 

1.2

 

Total assets recorded at fair value

 

$

476.6

 

 

$

 

 

$

475.4

 

 

$

1.2

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

6.6

 

 

$

 

 

$

 

 

$

6.6

 

Hybrid instrument liability

 

 

15.6

 

 

 

 

 

 

 

 

 

15.6

 

Interest rate and cross currency swap agreements

 

 

23.9

 

 

 

 

 

 

23.9

 

 

 

 

Forward currency contracts

 

 

0.3

 

 

 

 

 

 

0.3

 

 

 

 

Long-term fixed interest rate debt

 

 

1,043.3

 

 

 

 

 

 

1,043.3

 

 

 

 

Total liabilities recorded at fair value

 

$

1,089.7

 

 

$

 

 

$

1,067.5

 

 

$

22.2

 

Schedule of changes in contingent consideration liabilities

The following table sets forth the changes in contingent consideration liabilities (in millions):

 

 

 

Total

 

Balance at December 31, 2021

 

$

6.6

 

Current period additions

 

 

1.2

 

Current period adjustments

 

 

0.3

 

Current period settlements

 

 

(1.2

)

Foreign currency effect

 

 

(0.1

)

Balance at March 31, 2022

 

$

6.8

 

Schedule of changes in hybrid instrument liability

The following table sets forth the changes in hybrid instrument liability (in millions):

 

 

 

Total

 

Balance at December 31, 2021

 

$

15.6

 

Current period additions

 

 

20.9

 

Current period adjustments

 

 

4.2

 

Foreign currency effect

 

 

(0.7

)

Balance at March 31, 2022

 

$

40.0