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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2012
FAIR VALUE MEASUREMENTS  
Schedule of estimated fair value of assets and liabilities measured on recurring basis

 

 

DECEMBER 31 (MILLIONS)

 

2012

 

 

 

CARRYING

 

FAIR VALUE MEASUREMENTS

 

 

 

AMOUNT

 

LEVEL 1

 

LEVEL 2

 

LEVEL 3

 

Assets:

 

 

 

 

 

 

 

 

 

Money market funds held in rabbi trusts

 

 $

2.2

 

$

2.2

 

$

 

$

 

Foreign currency forward contracts

 

6.5

 

 

6.5

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

9.9

 

 

9.9

 

 

Contingent consideration obligations

 

23.2

 

 

 

23.2

 

 

DECEMBER 31 (MILLIONS)

 

2011

 

 

 

CARRYING

 

FAIR VALUE MEASUREMENTS

 

 

 

AMOUNT

 

LEVEL 1

 

LEVEL 2

 

LEVEL 3

 

Assets:

 

 

 

 

 

 

 

 

 

Money market funds held in rabbi trusts

 

$

0.9

 

$

0.9

 

$

 

$

 

Foreign currency forward contracts

 

10.4

 

 

10.4

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

3.3

 

 

3.3

 

 

Contingent consideration obligations

 

25.1

 

 

 

25.1

 

Schedule of changes in fair value of contingent consideration

 

 

MILLIONS

 

2012

 

 

2011

 

Balance at beginning of year

 

 $

25.1

 

 

$

2.4

 

Liabilities recognized at acquistion date

 

2.6

 

 

5.0

 

Losses (gains) recognized in earnings

 

(1.9

)

 

0.8

 

Settlements

 

(2.5

)

 

 

Assumed through Nalco merger

 

 

 

16.9

 

Foreign currency translation

 

(0.1

)

 

 

Balance at end of year

 

 $

23.2

 

 

$

25.1

 

Carrying amount and estimated fair value of long-term debt

 

 

DECEMBER 31 (MILLIONS)

 

2012

 

2011

 

 

 

CARRYING

 

FAIR

 

CARRYING

 

FAIR

 

 

 

 

AMOUNT

 

VALUE

 

 

AMOUNT

 

VALUE

 

Long-term debt

 

 

 

 

 

 

 

 

 

 

 

(including current maturities)

 

 

$

5,903.7

 

$

6,488.8

 

 

$

6,619.8

 

$

6,885.3