INVESTMENTS

The following table summarizes our equity security measurement category, balance sheet location, and balances (in millions):



Measurement Category	Balance Sheet Location	June 30, 2018		December 31, 2017⁽²⁾
Fair value method	Prepaid expenses and other current assets	$	8.1	$	17.0
Fair value method⁽¹⁾	Other non-current assets	$	4.6	$	6.3
Equity method	Other non-current assets	$	13.1	$	4.9

⁽¹⁾ The June 30, 2018 equity securities are measured at fair value using the Net Asset Value practical expedient.

⁽²⁾ The December 31, 2017 balances presented reflect historical recognition and measurement investment categories existing prior to the adoption of ASU 2016-01, which include available for sale and cost method securities.

The following table summarizes our equity security expense (income) recognized in earnings (in millions):



		Three Months Ended						Six Months Ended
Measurement Category	Income Statement Location	June 30, 2018			July 1, 2017			June 30, 2018			July 1, 2017
Fair value method	Other expense, net	$	6.3		$	—		$	10.6		$	—
Equity method	Other expense, net	$	(0.9	)	$	(0.2	)	$	(0.7	)	$	(0.3	)

On January 1, 2018, as a result of the adoption of ASU 2016-01, we made a $1.0 million cumulative-effect adjustment to Retained earnings (accumulated deficit) net of tax that consisted of net unrealized losses on previously classified available for sale securities from Other comprehensive income ("OCI").

During the three months ended June 30, 2018, Perrigo Asia Holding Company Limited increased its investment in Zibo Xinhua - Perrigo Pharmaceutical Company Limited by $7.5 million.