Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

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 June 30, 2017 and December 31, 2016:

		June 30, 2017				December 31, 2016
	Input	Carrying		Fair		Carrying		Fair
	Level	Amount		Value		Amount		Value
Financial Assets:
Cash equivalents	Level 1	$	104.1	$	104.1	$	72.4	$	72.4
Financial Liabilities:
Short-term borrowings	Level 2		629.3		629.3		426.8		426.8
2.875% Senior notes due October 1, 2022	Level 2		399.8		404.0		399.8		396.9
2.45% Senior notes due December 15, 2019	Level 2		299.9		303.1		299.9		302.0
Variable term loan due September 27, 2018	Level 2		200.0		200.0		0.0		0.0
Contingent consideration	Level 3		17.8		17.8		0.0		0.0
Fair value adjustment asset (liability) related to hedged fixed rate debt instrument	Level 2		0.0		0.0		0.2		0.2