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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Company's Financial Assets (Liabilities) at Fair Value on Recurring Basis

The following table summarizes the basis used to measure the Company’s financial assets (liabilities) at fair value on a recurring basis in the balance sheets at December 31, 2021 and 2020:


	Basis of Fair Value Measurements
	Balance at December 31, 2021		Level 1		Level 2		Level 3
	(In millions)
Trading securities - mutual funds held in nonqualified SERP(1)	$	11.6	$	11.6	$	—	$	—
Available-for-sale securities - equities(2)	45.3		45.3		—		—


	Basis of Fair Value Measurements
	Balance at December 31, 2020		Level 1		Level 2		Level 3
	(In millions)
Trading securities - mutual funds held in nonqualified SERP(1)	$	13.6	$	13.6	$	—	$	—

(1) The Supplemental Executive Retirement Plan (“SERP”) investment assets are offset by a SERP liability which represents the Company’s obligation to distribute SERP funds to participants.

(2) At December 31, 2021, the securities are included in Other current assets on the Company’s Consolidated Balance Sheets and are available for overnight cash settlement, if necessary, to fund current operations.