Fair Value Measurements (Tables)

9 Months Ended

Sep. 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:

	September 30, 2018								December 31, 2017
(In millions)	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets
Investments
Equity securities(a)	$	46.6	$	46.6	$	—	$	—	$	63.7	$	63.7	$	—	$	—
Money market fund	1.5		—		1.5		—		2.4		—		2.4		—
Stable value fund(b)	0.5		—		—		—		0.6		—		—		—
Derivative financial instruments
Synthetic bonds - call option premium	66.4		—		66.4		—		62.2		—		62.2		—
Foreign exchange contracts	110.6		—		110.6		—		111.0		—		111.0		—
Asset held for sale	20.9		—		—		20.9		50.2		—		—		50.2
Total assets	$	246.5	$	46.6	$	178.5	$	20.9	$	290.1	$	63.7	$	175.6	$	50.2
Liabilities
Redeemable financial liability	$	401.3	$	—	$	—	$	401.3	$	312.0	$	—	$	—	$	312.0
Derivative financial instruments
Synthetic bonds - embedded derivatives	66.4		—		66.4		—		62.2		—		62.2		—
Foreign exchange contracts	106.9		—		106.9		—		74.9		—		74.9		—
Liabilities held for sale	14.9		—		—		14.9		13.7		—		—		13.7
Total liabilities	$	589.5	$	—	$	173.3	$	416.2	$	462.8	$	—	$	137.1	$	325.7

(a) Includes 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:

	Nine Months Ended
	September 30,
(In millions)	2018			2017
Balance at beginning of period	$	312.0		$	174.8
Less: Gains (losses) recognized in net interest expense	(213.5		)	(202.9		)
Less: Settlements	124.2			76.6
Balance at end of period	$	401.3		$	301.1