Fair Value (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value [Abstract]

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis at June 30, 2014 and December 31, 2013 were (in millions):

2014	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	1,534.7					$	1,534.7
Short-term investments	9.9						9.9
Available-for-sale securities	5.3						5.3
Foreign currency and interest rate derivative instruments			$	9.8			9.8
Liabilities:
Foreign currency derivative instruments			$	0.3			$	0.3
Contingent interest derivative			0.7				0.7
Contingent purchase price obligations					$	271.7	271.7

2013	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	2,710.5					$	2,710.5
Short-term investments	18.2						18.2
Available-for-sale securities	4.9						4.9
Foreign currency derivative instruments			$	2.2			2.2
Liabilities:
Foreign currency derivative instruments			$	0.1			$	0.1
Contingent interest derivative			2.1				2.1
Contingent purchase price obligations					$	220.2	220.2

Changes in Level 3 Contingent Purchase Price Obligations

The changes in Level 3 contingent purchase price obligations for the six months ended June 30, 2014 and 2013 were (in millions):

	2014			2013
January 1	$	220.2		$	266.2
Acquisitions	90.8			19.2
Revaluation and interest	0.1			(5.7		)
Payments	(43.7		)	(31.8		)
Foreign currency translation	4.3			(15.7		)
June 30	$	271.7		$	232.2

Carrying Amounts and Fair Value of Financial Instruments

The carrying amount and fair value of our financial instruments at June 30, 2014 and December 31, 2013 were (in millions):

	2014				2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	$	1,534.7	$	1,534.7	$	2,710.5	$	2,710.5
Short-term investments	9.9		9.9		18.2		18.2
Available-for-sale securities	5.3		5.3		4.9		4.9
Foreign currency and interest rate derivative instruments	9.8		9.8		2.2		2.2
Cost method investments	23.5		23.5		22.2		22.2
Liabilities:
Short-term borrowings	$	24.7	$	24.7	$	5.9	$	5.9
Foreign currency derivative instruments	0.3		0.3		0.1		0.1
Contingent interest derivative	0.7		0.7		2.1		2.1
Contingent purchase price obligations	271.7		271.7		220.2		220.2
Debt	4,038.3		4,398.3		4,033.8		4,302.7