Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following effects of risk-management instruments were recognized in other–net, (income) expense:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Fair value hedges:
Effect from hedged fixed-rate debt	$	(18.8	)	$	66.1		$	92.4		$	25.8
Effect from interest rate contracts	18.8			(66.1		)	(92.4		)	(25.8		)
Cash flow hedges:
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss	3.8			3.7			11.2			10.0
Net (gains) losses on foreign currency exchange contracts not designated as hedging instruments	1.4			(14.9		)	105.6			7.2

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

The following tables summarize certain fair value information at September 30, 2016 and December 31, 2015 for assets and liabilities measured at fair value on a recurring basis, as well as the carrying amount and amortized cost of certain other investments:



					Fair Value Measurements Using
	Carrying Amount		Cost ⁽¹⁾		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
September 30, 2016
Cash equivalents	$	1,615.9	$	1,615.9	$	1,614.8	$	1.1	$	—	$	1,615.9

Short-term investments:
U.S. government and agency securities	$	81.0	$	81.0	$	81.0	$	—	$	—	$	81.0
Corporate debt securities	648.8		648.3		—		648.8		—		648.8
Asset-backed securities	5.3		5.3		—		5.3		—		5.3
Other securities	2.7		2.7		—		2.7		—		2.7
Short-term investments	$	737.8

Noncurrent investments:
U.S. government and agency securities	$	344.0	$	342.0	$	344.0	$	—	$	—	$	344.0
Corporate debt securities	3,104.7		3,084.7		—		3,104.7		—		3,104.7
Mortgage-backed securities	195.8		193.7		—		195.8		—		195.8
Asset-backed securities	474.8		473.3		—		474.8		—		474.8
Other securities	170.1		82.6		—		3.4		166.7		170.1
Marketable equity securities	178.5		80.5		178.5		—		—		178.5
Cost and equity method investments ⁽²⁾	559.1
Noncurrent investments	$	5,027.0

December 31, 2015
Cash equivalents	$	1,644.4	$	1,644.4	$	1,637.0	$	7.4	$	—	$	1,644.4

Short-term investments:
U.S. government and agency securities	$	153.2	$	153.4	$	153.2	$	—	$	—	$	153.2
Corporate debt securities	625.8		626.9		—		625.8		—		625.8
Asset-backed securities	3.3		3.3		—		3.3		—		3.3
Other securities	3.1		3.1		—		3.1		—		3.1
Short-term investments	$	785.4

Noncurrent investments:
U.S. government and agency securities	$	284.5	$	286.0	$	283.5	$	1.0	$	—	$	284.5
Corporate debt securities	1,962.6		1,995.8		—		1,962.6		—		1,962.6
Mortgage-backed securities	153.3		154.7		—		153.3		—		153.3
Asset-backed securities	441.9		443.1		—		441.9		—		441.9
Other securities	137.1		97.3		—		4.1		133.0		137.1
Marketable equity securities	128.9		74.8		128.9		—		—		128.9
Cost and equity method investments ⁽²⁾	538.3
Noncurrent investments	$	3,646.6

⁽¹⁾ For available-for-sale debt securities, amounts disclosed represent the securities' amortized cost.

⁽²⁾ Fair value disclosures are not applicable for cost method and equity method investments.

Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]



				Fair Value Measurements Using
	Carrying Amount			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Fair Value
Long-term debt, including current portion
September 30, 2016	$	(9,348.8	)	$	—	$	(10,064.6	)	$	—	$	(10,064.6	)
December 31, 2015	(7,978.5		)	—		(8,172.0		)	—		(8,172.0		)

Fair Value, by Balance Sheet Grouping [Table Text Block]



				Fair Value Measurements Using
	Carrying Amount			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value
September 30, 2016
Risk-management instruments:
Interest rate contracts designated as fair value hedges:
Other receivables	$	5.8		$	—	$	5.8		$	—		$	5.8
Sundry	156.2			—		156.2			—			156.2
Cross-currency interest rate contracts designated as net investment hedges:
Sundry	1.6			—		1.6			—			1.6
Foreign exchange contracts not designated as hedging instruments:
Other receivables	8.4			—		8.4			—			8.4
Other current liabilities	(5.5		)	—		(5.5		)	—			(5.5		)
Contingent consideration liabilities ⁽¹⁾:
Other current liabilities	(235.0		)	—		—			(235.0		)	(235.0		)
Other noncurrent liabilities	(296.2		)	—		—			(296.2		)	(296.2		)

December 31, 2015
Risk-management instruments:
Interest rate contracts designated as fair value hedges:
Sundry	$	70.1		$	—	$	70.1		$	—		$	70.1
Other noncurrent liabilities	(0.4		)	—		(0.4		)	—			(0.4		)
Foreign exchange contracts not designated as hedging instruments:
Other receivables	13.1			—		13.1			—			13.1
Other current liabilities	(17.3		)	—		(17.3		)	—			(17.3		)
Contingent consideration liabilities ⁽¹⁾:
Other current liabilities	(243.7		)	—		—			(243.7		)	(243.7		)
Other noncurrent liabilities	(427.2		)	—		—			(427.2		)	(427.2		)

Available-for-sale Securities [Table Text Block]

A summary of the fair value of available-for-sale securities in an unrealized gain or loss position and the amount of unrealized gains and losses (pretax) in accumulated other comprehensive loss follows:



	September 30, 2016		December 31, 2015
Unrealized gross gains	$	138.8	$	68.0
Unrealized gross losses	7.6		52.5
Fair value of securities in an unrealized gain position	3,570.3		764.5
Fair value of securities in an unrealized loss position	1,266.2		2,933.4

The table below summarizes the contractual maturities of our investments in debt securities measured at fair value as of September 30, 2016:



	Maturities by Period
	Total		Less Than 1 Year		1-5 Years		6-10 Years		More Than 10 Years
Fair value of debt securities	$	4,860.5	$	737.8	$	3,716.5	$	171.8	$	234.4

Gain (Loss) on Investments [Table Text Block]

Activity related to our investment portfolio, substantially all of which related to available-for-sale securities, was as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Proceeds from sales	$	926.3	$	621.9	$	2,503.4	$	3,491.8
Realized gross gains on sales	12.8		151.0		18.0		253.3
Realized gross losses on sales	1.3		1.5		11.7		3.9

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The effective portion of risk-management instruments that was recognized in other comprehensive income (loss) is as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Net investment hedges:
Foreign currency-denominated notes	$	(37.0	)	$	(16.8	)	$	(80.0	)	$	(50.6	)
Cross-currency interest rate swaps	(4.1		)	—			2.2			—
Foreign currency exchange contracts	—			—			31.9			—
Cash flow hedges:
Forward-starting interest rate swaps	—			—			(3.4		)	(56.7		)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

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