Derivatives and Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

Financial assets and liabilities measured at fair value on a recurring and nonrecurring basis were as follows:

	March 31, 2020
In millions	Level 1		Level 2		Level 3		NAV		Total
Recurring fair value measurements
Foreign currency contract assets	$	—	$	32.8	$	—	$	—	$	32.8
Deferred compensation plan assets	8.7		—		—		7.0		15.7
Total recurring fair value measurements	$	8.7	$	32.8	$	—	$	7.0	$	48.5

	December 31, 2019
In millions	Level 1		Level 2			Level 3		NAV		Total
Recurring fair value measurements
Foreign currency contract assets	$	—	$	0.1		$	—	$	—	$	0.1
Foreign currency contract liabilities	—		(11.6		)	—		—		(11.6		)
Deferred compensation plan assets	12.5		—			—		8.8		21.3
Total recurring fair value measurements	$	12.5	$	(11.5	)	$	—	$	8.8	$	9.8
Nonrecurring fair value measurements (1)

⁽¹⁾ 

During the year ended December 31, 2019, we recorded impairment charges for cost method investments in the amount of $21.2 million, of which $15.3 million was recorded in the first quarter of 2019. A valuation method using unobservable inputs was utilized to determine the fair value. We wrote the balance of the cost method investments to zero.

Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments

The recorded amounts and estimated fair values of total debt, excluding unamortized issuance costs and discounts, were as follows:

	March 31, 2020				December 31, 2019
In millions	Recorded Amount		Fair Value		Recorded Amount		Fair Value
Variable rate debt	$	774.5	$	774.5	$	353.6	$	353.6
Fixed rate debt	685.4		714.0		685.4		732.2
Total debt	$	1,459.9	$	1,488.5	$	1,039.0	$	1,085.8