Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

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

	2015
	Carrying		Fair Value Measurements
March 31 (millions)	Amount		Level 1		Level 2		Level 3
Assets:
Investments held in rabbi trusts	$	2.1	$	2.1	$	—	$	—
Foreign currency forward contracts	162.0		—		162.0		—
Interest rate swap contracts	1.3		—		1.3		—
Contingent consideration	0.3		—		—		0.3

Liabilities:
Foreign currency forward contracts	27.3		—		27.3		—
Interest rate swap contracts	30.9		—		30.9		—
Contingent consideration	1.2		—		—		1.2

	2014
	Carrying		Fair Value Measurements
December 31 (millions)	Amount		Level 1		Level 2		Level 3
Assets:
Investments held in rabbi trusts	$	3.4	$	3.4	$	—	$	—
Foreign currency forward contracts	75.5		—		75.5		—
Contingent consideration	0.3		—		—		0.3

Liabilities:
Foreign currency forward contracts	27.9		—		27.9		—
Interest rate swap contracts	24.2		—		24.2		—
Contingent consideration	1.6		—		—		1.6

Schedule of changes in net fair value of contingent consideration

(millions)
Contingent consideration, December 31, 2014	$	1.3
Amount recognized at transaction date	—
Loss (gain) recognized in earnings	—
Settlements	(0.3		)
Foreign currency translation	(0.1		)
Contingent consideration, March 31, 2015	$	0.9

Schedule of carrying amount and estimated fair value of long-term debt

	March 31, 2015				December 31, 2014
	Carrying		Fair		Carrying		Fair
(millions)	Amount		Value		Amount		Value

Long-term debt (including current maturities)	$	5,924.6	$	6,309.6	$	5,619.5	$	5,980.9

- 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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