Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015.



	Identical Assets (Level 1)				Observable Inputs (Level 2)				Unobservable Inputs (Level 3)				Total
(In millions of dollars)	06/30/16		12/31/15		06/30/16		12/31/15		06/30/16		12/31/15		06/30/16		12/31/15
Assets:
Financial instruments owned:
Mutual funds^(a)	$	133	$	142	$	—	$	—	$	—	$	—	$	133	$	142
Money market funds^(b)	43		140		—		—		—		—		43		140
Total assets measured at fair value	$	176	$	282	$	—	$	—	$	—	$	—	$	176	$	282
Fiduciary Assets:
Money market funds	$	27	$	48	$	—	$	—	$	—	$	—	$	27	$	48
Total fiduciary assets measured at fair value	$	27	$	48	$	—	$	—	$	—	$	—	$	27	$	48
Liabilities:
Contingent purchase consideration liability^(c)	$	—	$	—	$	—	$	—	$	279	$	309	$	279	$	309
Total liabilities measured at fair value	$	—	$	—	$	—	$	—	$	279	$	309	$	279	$	309


^(a)	Included in other assets in the consolidated balance sheets.


^(b)	Included in cash and cash equivalents in the consolidated balance sheets.


^(c)	Included in accounts payable and accrued liabilities and other liabilities in the consolidated balance sheets.

Changes in Fair Value of Level 3 Liabilities Representing Acquisition Related Contingent Consideration

The table below sets forth a summary of the changes in fair value of the Company’s Level 3 liabilities as of June 30, 2016 and 2015 that represent contingent consideration related to acquisitions:



(In millions of dollars)	2016			2015
Balance at January 1,	$	309		$	207
Additions	8			49
Payments	(50		)	(33		)
Revaluation Impact	18			21
Other ^(a)	(6		)	—
Balance at June 30,	$	279		$	244

^(a) Primarily reflects the impact of foreign exchange.