Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

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 September 30, 2016 and December 31, 2015:

		September 30, 2016				December 31, 2015
	Input	Carrying		Fair		Carrying		Fair
	Level	Amount		Value		Amount		Value
Financial Assets:
Cash equivalents	Level 1	$	140.5	$	140.5	$	89.3	$	89.3
Financial Liabilities:
Short-term borrowings	Level 2		230.6		230.6		357.2		357.2
2.875% Senior notes due October 1, 2022	Level 2		399.8		409.6		399.7		390.5
2.45% Senior notes due December 15, 2019	Level 2		299.9		305.9		299.9		296.0
Fair value adjustment asset (liability) related to hedged fixed rate debt instrument	Level 2		6.3		6.3		1.3		1.3