Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

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, 2018 and 2017 (in millions):

			Quoted Prices		Significant
			in Active		Other		Significant
			Markets		Observable		Unobservable
			Available		Inputs		Inputs
December 31, 2018	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Foreign exchange contracts	$	0.2	$	—	$	0.2	$	—
Embedded derivatives in purchase and delivery contracts		0.4		—		0.4		—
Total assets recorded at fair value	$	0.6	$	—	$	0.6	$	—
Liabilities:
Contingent consideration	$	15.1	$	—	$	—	$	15.1
Hybrid instrument liability		12.9		—		—		12.9
Foreign exchange contracts		2.8		—		2.8		—
Embedded derivatives in purchase and delivery contracts		0.9		—		0.9		—
Fixed price commodity contracts		0.5		—		0.5		—
Total liabilities recorded at fair value	$	32.2	$	—	$	4.2	$	28.0

			Quoted Prices		Significant
			in Active		Other		Significant
			Markets		Observable		Unobservable
			Available		Inputs		Inputs
December 31, 2017	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Foreign exchange contracts	$	4.5	$	—	$	4.5	$	—
Embedded derivatives in purchase and delivery contracts		0.9		—		0.9		—
Fixed price commodity contracts		0.8		—		0.8		—
Total assets recorded at fair value	$	6.2	$	—	$	6.2	$	—
Liabilities:
Contingent consideration	$	12.7	$	—	$	—	$	12.7
Foreign exchange contracts		0.1		—		0.1		—
Embedded derivatives in purchase and delivery contracts		2.9		—		2.9		—
Total liabilities recorded at fair value	$	15.7	$	—	$	3.0	$	12.7

Schedule of balances of cash equivalents, restricted cash and short-term investments

The following tables set forth the balances of restricted cash and short-term investments as of December 31, 2018 and 2017 (in millions):

	2018		2017
Restricted Cash	$	3.9	$	3.9
Short-term Investments		—		114.2

Schedule of changes in contingent consideration liabilities

The following table sets forth the changes in contingent consideration liabilities for the years ended December 31, 2018 and 2017 (in millions):

Balance at December 31, 2016	$	16.6
Current period additions		5.0
Current period adjustments		2.3
Current period settlements		(11.7)
Foreign currency effect		0.5
Balance at December 31, 2017		12.7
Current period additions		9.9
Current period adjustments		(1.9)
Current period settlements		(5.5)
Foreign currency effect		(0.1)
Balance at December 31, 2018	$	15.1

Schedule of changes in hybrid instrument liability

The following table sets forth the changes in hybrid instrument liability for the year ended December 31, 2018 (dollars in millions):

Balance at December 31, 2017	$	—
Current period additions		12.9
Balance at December 31, 2018	$	12.9