Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

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 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, 2016 and 2015 (in millions):

December 31, 2016	Total		Quoted Prices in Active Markets Available (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Embedded derivatives in purchase and delivery contracts	$	4.0	$	—	$	4.0	$	—
Fixed price commodity contracts		0.2				0.2		—
Total assets recorded at fair value	$	4.2	$	—	$	4.2	$	—
Liabilities:
Contingent consideration	$	16.6	$	—	$	—	$	16.6
Foreign exchange contracts		1.4		—		1.4		—
Embedded derivatives in purchase and delivery contracts		0.3		—		0.3		—
Total liabilities recorded at fair value	$	18.3	$	—	$	1.7	$	16.6

December 31, 2015	Total		Quoted Prices in Active Markets Available (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Embedded derivatives in purchase and delivery contracts	$	0.5	$	—	$	0.5	$	—
Total assets recorded at fair value	$	0.5	$	—	$	0.5	$	—
Liabilities:
Contingent consideration	$	4.6	$	—	$	—	$	4.6
Foreign exchange contracts		1.3		—		1.3		—
Embedded derivatives in purchase and delivery contracts		0.5		—		0.5		—
Fixed price commodity contracts		0.4		—		0.4
Total liabilities recorded at fair value	$	6.8	$	—	$	2.2	$	4.6

Schedule of changes in contingent consideration liabilities

The following table sets forth the changes in contingent consideration liabilities for the years ended December 31, 2016 and 2015 (in millions):

Balance at December 31, 2014	$	11.9
Current period additions		4.1
Current period adjustments		(7.7	)
Current period settlements		(3.6	)
Foreign currency effect		(0.1	)
Balance at December 31, 2015		4.6
Current period additions		5.1
Current period adjustments		6.9
Current period settlements		—
Foreign currency effect		—
Balance at December 31, 2016	$	16.6