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FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Schedule of components and classification of financial assets and liabilities measured at fair value
The following fair value hierarchy table presents the components and classification of the Company’s financial assets and liabilities measured at fair value as of June 30, 2016 and December 31, 2015:
 
 
As of June 30, 2016
 
As of December 31, 2015
 
 
Carrying
Value
 
Quoted
Prices
in Active
Markets for
Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Carrying
Value
 
Quoted
Prices
in Active
Markets for
Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents(1)
 
$
416.6

 
$
344.2

 
$
72.4

 
$
—

 
$
167.2

 
$
156.1

 
$
11.1

 
$
—

Liabilities:
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
Acquisition-related contingent consideration
 
$
(1,074.6
)
 
$
—

 
$
—

 
$
(1,074.6
)
 
$
(1,155.9
)
 
$
—

 
$
—

 
$
(1,155.9
)

___________________________________
(1)
Cash equivalents include highly liquid investments with an original maturity of three months or less at acquisition, primarily including money market funds, reflected in the balance sheet at carrying value, which approximates fair value due to their short-term nature.
Schedule of reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3)
The following table presents a reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3) for the six-month period ended June 30, 2016:
 
Balance,
January 1,
2016
 
Payments/
Settlements(a)
 
Net
Unrealized
Loss
 
Foreign
Exchange(b)
 
Adjustments
 
Balance,
June 30,
2016
Acquisition-related contingent consideration
$
(1,155.9
)
 
$
76.9

 
$
(9.3
)
 
$
8.0

 
$
5.7

 
$
(1,074.6
)
____________________________________
(a)
Primarily relates to payments of acquisition-related contingent consideration related to the acquisition of certain assets of Marathon, the settlement of contingent consideration obligation in connection with the termination of the arrangements with and relating to Philidor, and payments of acquisition-related contingent consideration related to the Elidel®/Xerese®/Zovirax® agreement entered into with Meda Pharma SARL in June 2011 (the "Elidel®/Xerese®/Zovirax® agreement"), and other smaller acquisitions.
(b)
Included in other comprehensive loss.