XML 74 R45.htm IDEA: XBRL DOCUMENT v2.3.0.15
Fair Value Measurements (Fair Value Of Assets And (Liabilities) Measured On A Recurring Basis) (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Cash Equivalents$ 1,037.8[1]$ 1,065.6[1]
Forward Contracts33.4[2]32.1[2]
Other Investments68.8[3]79.7[3]
Contingent Consideration Obligation(78.6)[4](75.4)[4]
Total1,061.41,102.0
Fair Value Measurements, Inputs, Level 1 [Member]
  
Cash Equivalents1,037.8[1]1,065.6[1]
Forward Contracts0[2]0[2]
Other Investments68.8[3]79.7[3]
Contingent Consideration Obligation0[4]0[4]
Total1,106.61,145.3
Fair Value Measurements, Inputs, Level 2 [Member]
  
Cash Equivalents0[1]0[1]
Forward Contracts33.4[2]32.1[2]
Other Investments0[3]0[3]
Contingent Consideration Obligation0[4]0[4]
Total33.432.1
Fair Value Measurements, Inputs, Level 3 [Member]
  
Cash Equivalents0[1]0[1]
Forward Contracts0[2]0[2]
Other Investments0[3]0[3]
Contingent Consideration Obligation(78.6)[4](75.4)[4]
Total$ (78.6)$ (75.4)
[1]Cash equivalents are comprised of highly liquid investments purchased with a maturity of three months or less. The carrying value of these cash equivalents approximates fair value due to their short-term maturities.
[2]The fair value of foreign currency contracts, commodity contracts and interest rate swaps is determined based on the present value of expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Observable Level 2 inputs are used to determine the present value of expected future cash flows.
[3]The other investments balance includes investments in mutual funds, which are used to offset fluctuations in deferred compensation liabilities. These mutual funds are primarily comprised of large cap domestic and international equity securities. The fair value of these investments is determined using quoted market prices.
[4]The contingent consideration obligation was incurred in connection with the acquisition of P4 Healthcare. The fair value of the contingent consideration obligation is determined based on a probability-weighted income approach derived from EBITDA estimates and probability assessments with respect to the likelihood of achieving the various EBITDA targets. The fair value measurement is based on significant inputs unobservable in the market and thus represents a Level 3 measurement. At each reporting date, we revalue the contingent consideration obligation to estimated fair value. Changes in the fair value of the contingent consideration obligation may result from changes in the terms of the contingent payments, changes in discount periods and rates, changes in the timing and amount of EBITDA estimates, and changes in probability assumptions with respect to the timing and likelihood of achieving the EBITDA targets. Actual progress toward achieving the EBITDA targets for the remaining measurement periods may be different than our expectations of performance in future measurement periods. Failure to meet current expectations of progress could increase the probability of not achieving the targets within the measurement periods and result in a material reduction in the fair value of the contingent consideration obligation. See Note 2 for additional information regarding the contingent consideration obligation related to the P4 Healthcare acquisition.