XML 41 R30.htm IDEA: XBRL DOCUMENT v3.21.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis The following tables present information about our financial instruments measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 March 31, 2021Balance Sheet Classification
 Level 1Level 2Level 3Total
Assets
Cash equivalents$1,160.6 $0.0 $0.0 $1,160.6 Cash and cash equivalents
Liabilities
Contingent acquisition obligations 1
$0.0 $0.0 $99.7 $99.7 Accrued liabilities and Other non-current liabilities
 December 31, 2020Balance Sheet Classification
 Level 1Level 2Level 3Total
Assets
Cash equivalents$1,507.4 $0.0 $0.0 $1,507.4 Cash and cash equivalents
Liabilities
Contingent acquisition obligations 1
$0.0 $0.0 $95.5 $95.5 Accrued liabilities and Other non-current liabilities
1Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional noncontrolling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The increase in this balance of $4.2 from December 31, 2020 to March 31, 2021 is primarily due to the exercises of redeemable noncontrolling interest and valuation adjustments, partially offset by payments related to ownership increase in our consolidated subsidiaries. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.
 [1]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 March 31, 2021December 31, 2020
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Total long-term debt$0.0 $3,696.8 $43.1 $3,739.9 $0.0 $3,951.1 $43.9 $3,995.0 
[1] Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional noncontrolling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The increase in this balance of $4.2 from December 31, 2020 to March 31, 2021 is primarily due to the exercises of redeemable noncontrolling interest and valuation adjustments, partially offset by payments related to ownership increase in our consolidated subsidiaries. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.