Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of financial instruments measured at fair value on a recurring basis

The Company measures the following financial assets and liabilities at fair value on a recurring basis. The following tables set forth the Company's financial instruments and presents them within the fair value hierarchy using the lowest level of input that is significant to the fair value measurement at December 31, 2014 and 2013 (in millions):

December 31, 2014	Total		Quoted Prices in Active Markets Available (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	67.9	$	67.9	$	—	$	—
Short-term investments		178.0		178.0		—		—
Restricted cash		1.8		1.8		—		—
Embedded derivatives in purchase and delivery contracts		0.6		—		0.6		—
Long-term restricted cash		3.4		3.4		—

Total assets recorded at fair value	$	251.7	$	251.1	$	0.6	$	—


Liabilities:
Contingent consideration	$	11.9	$	—	$	—	$	11.9
Foreign exchange contracts		5.1		—		5.1		—
Embedded derivatives in purchase and delivery contracts		0.4		—		0.4		—
Fixed price commodity contracts		0.2		—		0.2

Total liabilities recorded at fair value	$	17.6	$	—	$	5.7	$	11.9

December 31, 2013	Total		Quoted Prices in Active Markets Available (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	6.8	$	6.8	$	—	$	—
Restricted cash		2.7		2.7		—		—
Foreign exchange contracts		2.3		—		2.3		—
Embedded derivatives in purchase and delivery contracts		0.2		—		0.2		—
Fixed price commodity contracts		0.1		—		0.1		—
Long-term restricted cash		4.0		4.0

Total assets recorded at fair value	$	16.1	$	13.5	$	2.6	$	—


Liabilities:
Contingent consideration	$	7.0	$	—	$	—	$	7.0
Embedded derivatives in purchase and delivery contracts		0.4		—		0.4		—

Total liabilities recorded at fair value	$	7.4	$	—	$	0.4	$	7.0

Schedule of changes in contingent consideration liabilities

The following table sets forth the changes in contingent consideration liabilities for the years ended December 31, 2014 and 2013 (in millions):

Balance at December 31, 2012	$	3.7
Current period additions		5.8
Current period adjustments		(1.5	)
Current period settlements		(1.3	)
Foreign currency effect		0.3

Balance at December 31, 2013		7.0
Current period additions		4.7
Current period adjustments		0.8
Current period settlements		(0.5	)
Foreign currency effect		(0.1	)

Balance at December 31, 2014	$	11.9

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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