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Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 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 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 September 30, 2016 and December 31, 2015 (in millions):

 

September 30, 2016

 

Total

 

Quoted Prices
in Active
Markets
Available
(Level 1)

 

Significant
Other
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

$
0.2 

 

$

—

 

$
0.2 

 

$

—

 

Embedded derivatives in purchase and delivery contracts

 
0.1 

 

—

 
0.1 

 

—

 

 

 

 

 

 

 

 

 

 

 

Total assets recorded at fair value

 

$
0.3 

 

$

—

 

$
0.3 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$
12.8 

 

$

—

 

$

—

 

$
12.8 

 

Foreign exchange contracts

 
0.2 

 

—

 
0.2 

 

—

 

Embedded derivatives in purchase and delivery contracts

 
0.1 

 

—

 
0.1 

 

—

 

Fixed price commodity contracts

 
0.2 

 

—

 
0.2 

 

—

 

 

 

 

 

 

 

 

 

 

 

Total liabilities recorded at fair value

 

$
13.3 

 

$

—

 

$
0.5 

 

$
12.8 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 nine months ended September 30, 2016 (in millions):

 

Balance at December 31, 2015

 

$
4.6 

 

Current period additions

 
0.5 

 

Current period adjustments

 
7.7 

 

 

 

 

 

Balance at September 30, 2016

 

$
12.8