Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Carrying Amounts and Estimated Fair Values of Other Financial Instruments

The following table presents the carrying amounts and estimated fair values of the Company’s other financial instruments at December 31, 2014 and December 31, 2013:

		December 31, 2014						December 31, 2013
	Input	Carrying			Fair			Carrying		Fair
	Level	Amount			Value			Amount		Value
Financial Assets:
Cash equivalents	Level 2	$	298.0		$	298.0		$	318.5	$	318.5
Financial Liabilities:
Short-term borrowings	Level 2		146.7			146.7			153.8		153.8
2.875% Senior notes	Level 2		399.7			393.3			399.7		369.8
3.35% Senior notes	Level 2		249.9			255.6			249.8		258.2
2.45% Senior notes	Level 2		299.8			298.6			0.0		0.0
Fair value adjustment related to hedged fixed rate debt instrument	Level 2		(0.9	)		(0.9	)		0.0		0.0

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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