Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2018 and December 31, 2017 (dollars in millions):

			Quoted Prices		Significant
			in Active		Other		Significant
			Markets		Observable		Unobservable
			Available		Inputs		Inputs
September 30, 2018	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Embedded derivatives in purchase and delivery contracts	$	0.6	$	—	$	0.6	$	—
Foreign exchange contracts		0.4		—		0.4		—
Total assets recorded at fair value	$	1.0	$	—	$	1.0	$	—
Liabilities:
Contingent consideration	$	16.9	$	—	$	—	$	16.9
Foreign exchange contracts		2.7		—		2.7		—
Embedded derivatives in purchase and delivery contracts		1.3		—		1.3		—
Fixed price commodity contracts		0.4		—		0.4		—
Total liabilities recorded at fair value	$	21.3	$	—	$	4.4	$	16.9

			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 September 30, 2018 and December 31, 2017 (dollars in millions):

	September 30,		December 31,
	2018		2017
Restricted Cash	$	4.7	$	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 nine months ended September 30, 2018 (dollars in millions):

Balance at December 31, 2017	$	12.7
Current period additions		9.9
Current period adjustments		(0.1)
Current period settlements		(5.5)
Foreign currency effect		(0.1)
Balance at September 30, 2018	$	16.9