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Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2020
Schedule of fair value of financial assets and liabilities

Fair Value Measurement at December 31, 2020 Using:

Quoted Prices in Active

Significant Other

Significant

Markets for Identical

Observable

Unobservable

Assets

Inputs

Inputs

    

Total

    

(Level 1)

    

(Level 2)

    

(Level 3)

(in millions)

Assets

Plan asset for deferred compensation(1)

$

2.5

$

2.5

$

$

Total assets

$

2.5

$

2.5

$

$

Liabilities

Interest rate swaps(3)

$

0.6

$

$

0.6

$

Plan liability for deferred compensation(2)

$

2.5

$

2.5

$

$

Designated foreign currency hedges (3)

$

0.1

$

$

0.1

$

Contingent consideration(4)

$

3.2

$

$

$

3.2

Total liabilities

$

6.4

$

2.5

$

0.7

$

3.2

Fair Value Measurements at December 31, 2019 Using:

Quoted Prices in Active

Significant Other

Significant

Markets for Identical

Observable

Unobservable

    

Assets

Inputs

 Inputs

Total

    

(Level 1)

    

(Level 2)

    

(Level 3)

(in millions)

Assets

Plan asset for deferred compensation(1)

$

2.5

$

2.5

$

$

Interest rate swaps (1)

$

1.2

$

$

1.2

$

Total assets

$

3.7

$

2.5

$

1.2

$

Liabilities

Plan liability for deferred compensation(2)

$

2.5

$

2.5

$

$

Designated foreign currency hedge(3)

$

0.2

$

$

0.2

$

Total liabilities

$

2.7

$

2.5

$

0.2

$

(1)Included on the Company’s consolidated balance sheet in other assets (other, net).

(2)Included on the Company’s consolidated balance sheet in accrued compensation and benefits.

(3)Included on the Company’s consolidated balance sheet in accrued expenses and other liabilities.

(4)Included on the Company’s consolidated balance sheet in other noncurrent liabilities and relates to contingent consideration as part of the acquisition of Australian Valve Group Pty Ltd (“AVG”).
Significant Unobservable Inputs (Level 3)  
Summary of the changes in fair value of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3)

Total realized and unrealized

Balance

(gains) losses included in:

Balance

December 31,

Net earnings

Comprehensive

December 31,

    

2019

    

Settlements

    

Purchases

    

adjustments

    

income

    

2020

(in millions)

Contingent consideration

$

$

2.8

$

0.4

$

3.2