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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2015
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 that are measured at fair value on a recurring basis and presents them within the fair value hierarchy using the lowest level of input that is significant to the fair value measurement at June 30, 2015 and December 31, 2014 (in millions):

 

June 30, 2015

 

Total

 

Quoted Prices
in Active
Markets
Available
(Level 1)

 

Significant
Other
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$
71.7 

 

$
71.7 

 

$

—

 

$

—

 

Short-term investments

 
172.8 

 
172.8 

 

—

 

—

 

Restricted cash

 
0.7 

 
0.7 

 

—

 

—

 

Foreign exchange contracts

 
2.9 

 

—

 
2.9 

 

—

 

Embedded derivatives in purchase and delivery contracts

 
1.1 

 

—

 
1.1 

 

—

 

Long-term restricted cash

 
2.8 

 
2.8 

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

Total assets recorded at fair value

 

$
252.0 

 

$
248.0 

 

$
4.0 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$
5.2 

 

$

—

 

$

—

 

$
5.2 

 

Embedded derivatives in purchase and delivery contracts

 
0.7 

 

—

 
0.7 

 

—

 

Fixed price commodity contracts

 
0.3 

 

—

 
0.3 

 

—

 

 

 

 

 

 

 

 

 

 

 

Total liabilities recorded at fair value

 

$
6.2 

 

$

—

 

$
1.0 

 

$
5.2 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of changes in contingent consideration liabilities

   The following table sets forth the changes in contingent consideration liabilities for the six months ended June 30, 2015 (in millions):

 

Balance at December 31, 2014

 

$
11.9

 

Current period adjustments

 
(3.0

)

Current period settlements

 
(3.6

)

Foreign currency effect

 
(0.1

)

 

 

 

 

Balance at June 30, 2015

 

$
5.2