FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2014

Table of financial instruments measured at fair value

The following table summarizes the assets and liabilities measured at fair value in the condensed balance sheets:



	Fair Value Measurements
Balance at March 31, 2014	Level 1		Level 2		Level 3		Total
Assets	($ in millions)
Interest rate swaps	$	—	$	5.3	$	—	$	5.3
Liabilities
Interest rate swaps	$	—	$	6.6	$	—	$	6.6
Commodity forward contracts	—		3.4		—		3.4
Balance at December 31, 2013
Assets
Interest rate swaps	$	—	$	5.9	$	—	$	5.9
Commodity forward contracts	—		1.3		—		1.3
Liabilities
Interest rate swaps	$	—	$	7.3	$	—	$	7.3
Earn out	—		—		26.7		26.7
Balance at March 31, 2013
Assets
Interest rate swaps	$	—	$	7.7	$	—	$	7.7
Commodity forward contracts	—		1.0		—		1.0
Liabilities
Interest rate swaps	$	—	$	9.5	$	—	$	9.5
Commodity forward contracts	0.2		1.1		—		1.3
Earn out	—		—		21.0		21.0

Activity summary of financial instruments measure at fair value using level 3 inputs

The following table summarizes the activity for our earn out liability measured at fair value using Level 3 inputs:



	March 31,
	2014			2013
	($ in millions)
Balance at beginning of year	$	26.7		$	42.0
Settlements	(26.7		)	(23.2		)
Unrealized losses included in other expense	—			2.2
Balance at end of period	$	—		$	21.0

Fair value of debt table

The following table summarizes the fair value measurements of debt and the actual debt recorded on our condensed balance sheets:



	Fair Value Measurements								Amount recorded on balance sheets
	Level 1		Level 2		Level 3		Total		Amount recorded on balance sheets
	($ in millions)
Balance at March 31, 2014	$	—	$	558.5	$	153.0	$	711.5	$	690.1
Balance at December 31, 2013	—		561.4		153.0		714.4		691.0
Balance at March 31, 2013	—		591.0		153.0		744.0		701.5

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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