FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of the carrying amount and estimated fair value of assets and liabilities measured on recurring basis

DECEMBER 31 (MILLIONS)	2013

	CARRYING			FAIR VALUE MEASUREMENTS
	AMOUNT			LEVEL 1			LEVEL 2		LEVEL 3
Assets:
Investments held in rabbi trusts	$	4.3		$	4.3		$	—	$	—
Foreign currency forward contracts	20.2			—			20.2		—

Liabilities:
Foreign currency forward contracts	14.2			—			14.2		—
Contingent consideration obligations	16.4			—			—		16.4
Future considerations payable to Champion sellers	86.4			—			—		86.4

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	27.3		—			—			27.3

Schedule of changes in fair value of contingent consideration

MILLIONS	2013			2012
Balance at beginning of year	$	27.3		$	29.2
Liabilities recognized at acquistion date		—			2.6
Losses (gains) recognized in earnings		0.4			(1.9	)
Settlements		(11.3	)		(2.5	)
Foreign currency translation		—			(0.1	)
Balance at end of year	$	16.4		$	27.3

Carrying amount and estimated fair value of long-term debt

DECEMBER 31 (MILLIONS)

2013

2012

CARRYING

FAIR

CARRYING

FAIR

AMOUNT

VALUE

AMOUNT

VALUE

Long-term debt

(including current maturities)

6,548.8

6,766.0

5,903.7

6,417.6

- 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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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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