Financial Instruments And Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Gains recognized related to equity investments

The following is information on gains recognized during the three months ended March 31 related to equity investments:

	2021		2020
Net gains recognized during the period on equity securities	$	7.5	$	—
Less: Net gains recognized during the period on equity securities sold during the period	7.5		—
Unrealized gains recognized during the reporting period on equity securities still held at the reporting date	$	—	$	—

Summary Of Carrying Values And Fair Values Of Fixed Rate Debt

A summary of the aggregate carrying values and fair values of our fixed rate long-term debt is as follows:

	March 31, 2021		December 31, 2020
Carrying value	$	1,798.4	$	2,101.8
Fair value	$	1,999.8	$	2,341.1

Nonfinancial Assets Measured and Recorded At Fair Value On A Nonrecurring Basis

The following table presents assets measured and recorded at fair value on a nonrecurring basis during the three months ended March 31, 2021 and 2020:

	2021				2020
Description	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)		Gain/(Loss)		Fair Value Measurements Using Significant Unobservable Inputs (Level 3)		Gain/(Loss)
Goodwill	$	—	$	—	$	457.5	$	(318.3)
Franchise rights and other	$	—	$	—	$	26.2	$	(59.9)
Right-of-use assets	$	—	$	(0.1)	$	1.4	$	(0.4)
Long-lived assets held and used	$	6.0	$	(0.9)	$	1.8	$	(5.7)

Quantitative Information about Level 3 Fair Value Measurements

Quantitative Information about Level 3 Fair Value Measurements
Description	Fair Value at March 31, 2020		Valuation Technique	Unobservable Input	Range (Average)
Franchise rights	$	24.6	Discounted cash flow	Weighted average cost of capital	8.5	%
				Discount rate	11.1% - 14.3% (12.1%)
				Long-term revenue growth rate	2.0	%
				Long-term pretax income margin	0.6% - 2.8% (1.4%)
				Contributory asset charges	4.2% - 12.1% (6.2%)