Fair Value Measurement

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurement

Note 6. Fair Value Measurement

Certain assets and liabilities are required to be recorded at fair value on a recurring basis. See Note 12, Derivatives, for further discussion on financial assets and liabilities that are carried at fair value on a recurring basis in the Consolidated Balance Sheets.

In addition to assets and liabilities that are recorded at fair value on a recurring basis, we are required to record certain assets and liabilities at fair value on a nonrecurring basis, generally as a result of acquisitions or the remeasurement of assets resulting in impairment charges.

The fair value as of the measurement date, net book value as of the end of the year and related impairment charge for assets measured at fair value on a nonrecurring basis subsequent to initial recognition during the years ended December 31, 2019, 2018 and 2017 were as follows:

	Year Ended December 31, 2019				As of December 31, 2019
	Impairment Charge		Fair Value Measurement (Level 3)		Net Book Value
Long-lived assets	$	0.6	$	—	$	—
Goodwill		98.5		53.3		53.3
Other intangible assets		0.2		—		—
Total	$	99.3	$	53.3	$	53.3

	Year Ended December 31, 2018				As of December 31, 2018
	Impairment Charge		Fair Value Measurement (Level 3)		Net Book Value
Long-lived assets	$	13.7	$	—	$	—
Other intangible assets		0.2		—		—
Total	$	13.9	$	—	$	—

	Year Ended December 31, 2017				As of December 31, 2017
	Impairment Charge		Fair Value Measurement (Level 3)		Net Book Value
Long-lived assets	$	1.3	$	0.7	$	—
Goodwill		21.3		—		—
Other intangible assets		0.2		—		—
Total	$	22.8	$	0.7	$	—

See Note 4, Restructuring, Impairment and Other Charges, for further discussion regarding impairment of goodwill which was written down to the implied fair value during the year ended December 31, 2019.

Our accounting and finance management determines the valuation policies and procedures for Level 3 fair value measurements and is responsible for the development and determination of unobservable inputs.

The fair values of the long-lived assets held and used and long-lived assets held for sale or disposal were determined using Level 3 inputs and were estimated based on discussions with real estate brokers, review of comparable properties, if available, discussions with machinery and equipment brokers, dealer quotes and internal expertise related to the current marketplace conditions. Unobservable inputs obtained from third parties are adjusted as necessary for the condition and attributes of the specific asset.