Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013:


	March 31, 2014										December 31, 2013
	Fair Value Asset (Liability)										Fair Value Asset (Liability)
(in millions)	Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3		Total
Derivatives:
Assets	$	—	$	12.2		$	—	$	12.2		$	—	$	19.5		$	—	$	19.5
Liabilities		—		(19.2	)		—		(19.2	)		—		(19.7	)		—		(19.7	)
Available-for-sale securities		—		11.7			—		11.7			—		12.0			—		12.0
Contingent consideration		—		—			41.5		41.5			—		—			43.0		43.0

Changes in Fair Value of Contingent Consideration Obligations

Changes in the fair value of the contingent consideration obligations for the three months ended March 31, 2014 were as follows:


(in millions)	2014
Contingent consideration at January 1,	$	43.0
Payments		(1.6	)
Adjustments and foreign exchange		0.1

Contingent consideration at March 31,	$	41.5

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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