Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis were as follows:

	June 30, 2018								December 31, 2017
(In millions)	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets
Investments
Nonqualified Plan
Traded securities(a)	$	26.6	$	26.6	$	—	$	—	$	26.2	$	26.2	$	—	$	—
Money market fund	1.3		—		1.3		—		2.4		—		2.4		—
Stable value fund(b)	0.5		—		—		—		0.6		—		—		—
Available-for-sale securities	22.4		22.4		—		—		37.5		37.5		—		—
Derivative financial instruments
Synthetic bonds - call option premium	76.3		—		76.3		—		62.2		—		62.2		—
Foreign exchange contracts	92.2		—		92.2		—		111.0		—		111.0		—
Asset held for sale	33.9		—		—		33.9		50.2		—		—		50.2
Total assets	$	253.2	$	49.0	$	169.8	$	33.9	$	290.1	$	63.7	$	175.6	$	50.2
Liabilities
Redeemable financial liability	$	308.1	$	—	$	—	$	308.1	$	312.0	$	—	$	—	$	312.0
Derivative financial instruments
Synthetic bonds - embedded derivatives	76.3		—		76.3		—		62.2		—		62.2		—
Foreign exchange contracts	109.9		—		109.9		—		74.9		—		74.9		—
Liabilities held for sale	22.9		—		—		22.9		13.7		—		—		13.7
Total liabilities	$	517.2	$	—	$	186.2	$	331.0	$	462.8	$	—	$	137.1	$	325.7

a. Includes equity securities, fixed income and other investments measured at fair value.

b. Certain investments that are measured at fair value using net asset value per share (or its equivalent) have not been classified in the fair value hierarchy.

Schedule of changes in fair value of level 3 mandatorily redeemable financial liabilities

Change in the fair value of our Level 3 mandatorily redeemable financial liability is recorded as interest expense on the consolidated statements of income and is presented below:

	Six Months Ended
	June 30,
(In millions)	2018			2017
Balance at beginning of period	$	312.0		$	174.8
Less: Gains (losses) recognized in net interest expense	(120.3		)	(129.6		)
Less: Settlements	124.2			76.6
Balance at end of period	$	308.1		$	227.8