Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2012

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

	Carrying	Fair value
	value
		Total	Level 1	Level 2	Level 3
At March 31, 2012	$'M	$'M	$'M	$'M	$'M
	____________	____________	___________	___________	___________
Financial assets:
Available-for-sale securities⁽¹⁾	11.2	11.2	11.2	-	-
Contingent consideration receivable ⁽²⁾	40.2	40.2	-	-	40.2
Foreign exchange contracts	2.6	2.6	-	2.6	-

Financial liabilities:
Foreign exchange contracts	1.9	1.9	-	1.9	-
	____________	____________	___________	___________	___________



		Total	Level 1	Level 2	Level 3
At December 31, 2011	$'M	$'M	$'M	$'M	$'M
	____________	____________	___________	___________	___________
Financial assets:
Available-for-sale securities⁽¹⁾	7.4	7.4	7.4	-	-
Contingent consideration receivable ⁽²⁾	37.8	37.8	-	-	37.8
Foreign exchange contracts	3.4	3.4	-	3.4	-

Financial liabilities:
Foreign exchange contracts	0.4	0.4	-	0.4	-
	____________	____________	___________	___________	___________

Assets Measured at Fair Value on a Recurring Basis Using Significant Unobervable Inputs (Level 3)

	Contingent consideration receivable
	2012	2011
	$'M	$'M
	____________	____________

Balance at January 1,	37.8	61.0
Gain/(loss) recognized in the income statement due to change in fair value during the period	7.2	(1.3)
Reclassification of amounts to Other receivables within Other current assets	(5.6)	(5.1)
Foreign exchange translation recorded to other comprehensive income	0.8	3.4

Balance at March 31,	40.2	58.0

Schedule of Fair Value, Assets and Liabilities Not Measured at Fair Value on Recurring Basis

	March 31, 2012		December 31, 2011
	Carrying		Carrying
	amount	Fair value	amount	Fair value
	$’M	$’M	$’M	$’M
	____________	____________	____________	___________

Financial liabilities:
Convertible bonds (Level 1)	1,100.0	1,314.2	1,100.0	1,309.7
Building financing obligation (Level 3)	8.4	8.5	8.2	9.7
	____________	____________	____________	___________

Schedule of Fair Value Inputs Assets Quantitative Information

	Fair Value at the Measurement Date

At March 31, 2012	Fair value	Valuation Technique	Significant unobservable Inputs	Range
	$'M
	____________	___________	___________	___________
Contingent consideration receivable ("CCR")	40.2	Income approach (probability weighted discounted cash flow)	• Probability weightings applied to different sales scenarios • Future forecast royalties receivable at relevant contractual royalty rates • Assumed market participant discount rate	• 10-35% •$17 million to $163 million • 5.8 to 6.5%
	____________	____________	____________	____________

- 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, 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, issuances, 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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