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Fair Value Measurements (Tables)
12 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Carrying and Fair Value of Long-Term Debt The carrying values and estimated fair values of long-term debt with fixed interest rates (excluding finance leases) were as follows:
 June 30, 2020June 30, 2019
 Carrying ValueFair ValueCarrying ValueFair Value
(in millions)(Level 2)(Level 2)
Total long-term debt with fixed interest rates (excluding commercial paper and finance leases)$3,599.3 $3,793.1 $2,955.6 $3,041.3 
Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes the fair value of these instruments, which are measured at fair value on a recurring basis, by level, within the fair value hierarchy:
 June 30, 2020
(in millions)Level 1Level 2Level 3Total
Assets
Commodity contracts$ $0.4 $ $0.4 
Forward exchange contracts 7.4  7.4 
Interest rate swaps 32.0  32.0 
Total assets measured at fair value$ $39.8 $ $39.8 
Liabilities
Contingent purchase consideration liabilities$ $ $14.8 $14.8 
Commodity contracts 6.7  6.7 
Forward exchange contracts 16.8  16.8 
Interest rate swaps    
Cross currency interest rate swaps 0.2  0.2 
Total liabilities measured at fair value$ $23.7 $14.8 $38.5 
 June 30, 2019
(in millions)Level 1Level 2Level 3Total
Assets
Commodity contracts$ $ $ $ 
Forward exchange contracts 5.5  5.5 
Interest rate swaps 32.8  32.8 
Total assets measured at fair value$ $38.3 $ $38.3 
Liabilities
Contingent purchase consideration liabilities$ $ $13.6 $13.6 
Commodity contracts 4.6  4.6 
Forward exchange contracts 9.3  9.3 
Interest rate swaps    
Total liabilities measured at fair value$ $13.9 $13.6 $27.5 
Changes in Level 3 Liabilities The following table sets forth a summary of changes in the value of the Company's Level 3 financial liabilities:
 June 30,
(in millions)202020192018
Fair value at the beginning of the year$13.6 $14.6 $27.6 
Additions due to acquisitions   
Changes in fair value of Level 3 liabilities 1.1  0.8 
Payments (1.0)(13.0)
Foreign currency translation0.1  (0.8)
Fair value at the end of the year$14.8 $13.6 $14.6 
The following tables provide the location of derivative instruments in the consolidated balance sheet:
June 30,
(in millions)Balance Sheet Location20202019
Assets
Derivatives in cash flow hedging relationships:
Commodity contractsOther current assets$0.4 $ 
Forward exchange contractsOther current assets2.2 2.4 
Derivatives not designated as hedging instruments:
Forward exchange contractsOther current assets5.2 2.7 
Total current derivative contracts7.8 5.1 
Derivatives in fair value hedging relationships:
Interest rate swapsOther non-current assets32.0 32.8 
Derivatives not designated as hedging instruments:
Forward exchange contractsOther non-current assets 0.4 
Total non-current derivative contracts32.0 33.2 
Total derivative asset contracts$39.8 $38.3 
Liabilities
Derivatives in cash flow hedging relationships:
Commodity contractsOther current liabilities$6.7 $4.6 
Forward exchange contractsOther current liabilities3.0 1.5 
Derivatives not designated as hedging instruments:
Forward exchange contractsOther current liabilities13.6 7.1 
Cross currency interest rate swapsOther current liabilities0.2  
Total current derivative contracts23.5 13.2 
Derivatives in cash flow hedging relationships:
Forward exchange contractsOther non-current liabilities0.2 0.3 
Derivatives not designated as hedging instruments:
Forward exchange contractsOther non-current liabilities 0.4 
Total non-current derivative contracts0.2 0.7 
Total derivative liability contracts$23.7 $13.9