Fair Value (Tables)

9 Months Ended

Sep. 30, 2019

Financial assets and liabilities measured at fair value on a recurring basis were (in millions):



	September 30, 2019
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	2,440.4					$	2,440.4
Short-term investments	5.2						5.2
Marketable equity investments	1.5						1.5
Foreign currency derivative instruments			$	0.2			0.2
Liabilities:
Foreign currency derivative instruments			$	0.5			$	0.5
Contingent purchase price obligations					$	144.9	144.9



	December 31, 2018
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	3,652.4					$	3,652.4
Short-term investments	5.5						5.5
Marketable equity investments	1.5						1.5
Liabilities:
Interest rate and foreign currency derivative instruments			$	52.9			$	52.9
Contingent purchase price obligations					$	146.5	146.5

Changes in contingent purchase price obligations were (in millions):



	Nine Months Ended September 30,
	2019			2018
January 1	$	146.5		$	215.6
Acquisitions	42.9			84.1
Revaluation and interest	2.2			8.7
Payments	(43.7		)	(66.4		)
Foreign currency translation	(3.0		)	(17.0		)
September 30	$	144.9		$	225.0

The carrying amount and fair value of our financial assets and liabilities were (in millions):



	September 30, 2019				December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	$	2,440.4	$	2,440.4	$	3,652.4	$	3,652.4
Short-term investments	5.2		5.2		5.5		5.5
Marketable equity investments	1.5		1.5		1.5		1.5
Foreign currency derivative instruments	0.2		0.2		—		—
Non-marketable equity securities	10.3		10.3		11.8		11.8
Liabilities:
Short-term debt	$	7.9	$	7.9	$	8.1	$	8.1
Interest rate and foreign currency derivative instruments	0.5		0.5		52.9		52.9
Contingent purchase price obligations	144.9		144.9		146.5		146.5
Long-term debt, including current portion	5,110.4		5,294.6		4,883.7		4,821.3