Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Subject to Recurring Fair Value Measurements

The Company’s assets and liabilities subject to recurring fair value measurements are either Level 1 or Level 2 as follows:

At December 31, 2015	LEVEL 1		LEVEL 2		TOTAL
Assets:
Marketable debt securities
U.S. tax-exempt securities			$	505.4	$	505.4
U.S. corporate securities				76.7		76.7
U.S. government and agency securities	$	15.1		.6		15.7
Non-U.S. corporate securities				587.0		587.0
Non-U.S. government securities				193.7		193.7
Other debt securities				69.6		69.6
Total marketable debt securities	$	15.1	$	1,433.0	$	1,448.1
Derivatives
Cross currency swaps			$	130.5	$	130.5
Interest-rate swaps				1.7		1.7
Foreign-exchange contracts				5.1		5.1
Total derivative assets			$	137.3	$	137.3
Liabilities:
Derivatives
Cross currency swaps			$	37.2	$	37.2
Interest-rate swaps				9.5		9.5
Foreign-exchange contracts				1.5		1.5
Total derivative liabilities			$	48.2	$	48.2

At December 31, 2014	LEVEL 1		LEVEL 2		TOTAL
Assets:
Marketable debt securities
U.S. tax-exempt securities			$	363.4	$	363.4
U.S. corporate securities				81.5		81.5
U.S. government and agency securities	$	7.7		.3		8.0
Non-U.S. corporate securities				532.0		532.0
Non-U.S. government securities				194.1		194.1
Other debt securities				93.0		93.0
Total marketable debt securities	$	7.7	$	1,264.3	$	1,272.0
Derivatives
Cross currency swaps			$	81.7	$	81.7
Interest-rate swaps				1.0		1.0
Foreign-exchange contracts				6.5		6.5
Total derivative assets			$	89.2	$	89.2
Liabilities:
Derivatives
Cross currency swaps			$	31.1	$	31.1
Interest-rate swaps				14.6		14.6
Foreign-exchange contracts				2.8		2.8
Total derivative liabilities			$	48.5	$	48.5

Carrying Amount and Fair Value of Financial Services Fixed-Rate Loans and Fixed-Rate Debt

The Company’s estimate of fair value for fixed rate loans and debt that are not carried at fair value was as follows:
At December 31,	2015				2014
	CARRYING AMOUNT		FAIR VALUE		CARRYING AMOUNT		FAIR VALUE
Assets:
Financial Services fixed rate loans	$	3,660.6	$	3,729.0	$	3,627.5	$	3,683.3
Liabilities:
Financial Services fixed rate debt		4,167.9		4,192.2		3,713.4		3,737.7