Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 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 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 March 31, 2018 and December 31, 2017 (in millions):

March 31, 2018	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	$	1.3	$	—	$	1.3	$	—
Foreign exchange contracts	0.1		—		0.1		—
Fixed price commodity contracts	0.2		—		0.2		—
Total assets recorded at fair value	$	1.6	$	—	$	1.6	$	—
Liabilities:
Contingent consideration	$	13.5	$	—	$	—	$	13.5
Foreign exchange contracts	0.1		—		0.1		—
Embedded derivatives in purchase and delivery contracts	3.2		—		3.2		—
Total liabilities recorded at fair value	$	16.8	$	—	$	3.3	$	13.5

December 31, 2017	Total		Quoted Prices in Active Markets Available (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (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 cash equivalents, restricted cash and short-term investments as of March 31, 2018 and December 31, 2017:

	March 31,		December 31,
	2018		2017
Cash Equivalents	$	—	$	—
Restricted Cash	4.1		4.0
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 three months ended March 31, 2018 (in millions):

Balance at December 31, 2017	$	12.7
Current period adjustments	0.6
Foreign currency effect	0.2
Balance at March 31, 2018	$	13.5