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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The following effects of risk-management instruments were recognized in other–net, (income) expense:

			2021						2020						2019
Fair value hedges:
Effect from hedged fixed-rate debt			$	(78.5)					$	86.9					$	112.1
Effect from interest rate contracts			78.5						(86.9)						(112.1)
Cash flow hedges:
Effective portion of losses on interest rate contracts reclassified from accumulated other comprehensive loss			16.6						16.4						15.9
Cross-currency interest rate swaps			41.8						(102.4)						(17.1)
Net (gains) losses on foreign currency exchange contracts not designated as hedging instruments			204.6						(123.7)						61.9
Total			$	263.0					$	(209.7)					$	60.7

Schedule of Net Investment Hedges Included in Accumulated Other Comprehensive Income (Loss)

The effective portion of risk-management instruments that was recognized in other comprehensive income (loss) is as follows:

			2021						2020						2019
Net investment hedges:
Foreign currency-denominated notes			$	435.0					$	(404.0)					$	40.1
Cross-currency interest rate swaps			213.7						(207.9)						47.4
Cash flow hedges:
Forward-starting interest rate swaps			97.6						(110.9)						31.6
Cross-currency interest rate swaps			42.3						(53.7)						(8.3)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The effective portion of risk-management instruments that was recognized in other comprehensive income (loss) is as follows:

			2021						2020						2019
Net investment hedges:
Foreign currency-denominated notes			$	435.0					$	(404.0)					$	40.1
Cross-currency interest rate swaps			213.7						(207.9)						47.4
Cash flow hedges:
Forward-starting interest rate swaps			97.6						(110.9)						31.6
Cross-currency interest rate swaps			42.3						(53.7)						(8.3)

Fair Value, Assets Measured on Recurring Basis

The following tables summarize certain fair value information at December 31 for assets and liabilities measured at fair value on a recurring basis, as well as the carrying amount and amortized cost of certain other investments:

															Fair Value Measurements Using
Description			Carrying Amount						Cost (1)						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Fair Value
December 31, 2021
Cash equivalents			$	2,379.5					$	2,379.5					$	2,361.0					$	18.5					$	—					$	2,379.5
Short-term investments:
U.S. government and agency securities			$	25.7					$	25.6					$	25.7					$	—					$	—					$	25.7
Corporate debt securities			43.7						43.7						—						43.7						—						43.7
Mortgage-backed securities			0.2						0.2						—						0.2						—						0.2
Asset-backed securities			6.2						6.2						—						6.2						—						6.2
Other securities			14.3						14.3						—						—						14.3						14.3
Short-term investments			$	90.1
Noncurrent investments:
U.S. government and agency securities			$	137.0					$	136.8					$	137.0					$	—					$	—					$	137.0
Corporate debt securities			235.3						232.7						—						235.3						—						235.3
Mortgage-backed securities			109.8						108.1						—						109.8						—						109.8
Asset-backed securities			23.1						23.1						—						23.1						—						23.1
Other securities			108.1						22.2						—						—						108.1						108.1
Marketable equity securities			1,279.7						487.0						1,279.7						—						—						1,279.7
Equity investments without readily determinable fair values(2)			548.1
Equity method investments(2)			771.5
Noncurrent investments			$	3,212.6
December 31, 2020
Cash equivalents			$	2,097.9					$	2,097.9					$	2,097.9					$	—					$	—					$	2,097.9
Short-term investments:
U.S. government and agency securities			$	9.9					$	9.9					$	9.9					$	—					$	—					$	9.9
Corporate debt securities			2.8						2.8						—						2.8						—						2.8
Asset-backed securities			1.2						1.2						—						1.2						—						1.2
Other securities			10.3						10.3						—						—						10.3						10.3
Short-term investments			$	24.2
Noncurrent investments:
U.S. government and agency securities			$	78.7					$	74.3					$	78.7					$	—					$	—					$	78.7
Corporate debt securities			137.0						126.8						—						137.0						—						137.0
Mortgage-backed securities			106.4						101.4						—						106.4						—						106.4
Asset-backed securities			24.3						23.7						—						24.3						—						24.3
Other securities			110.5						31.8						—						—						110.5						110.5
Marketable equity securities			1,664.2						311.6						1,664.2						—						—						1,664.2
Equity investments without readily determinable fair values(2)			373.9
Equity method investments(2)			471.8
Noncurrent investments			$	2,966.8

(1) For available-for-sale debt securities, amounts disclosed represent the securities' amortized cost.

(2) Fair value disclosures are not applicable for equity method investments and investments accounted for under the measurement alternative for equity investments.

Fair Value, Liabilities Measured on Recurring Basis

									Fair Value Measurements Using
Description			Carrying Amount						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Fair Value
Long-term debt, including current portion
December 31, 2021			$	(16,884.7)					$	—					$	(18,157.7)					$	—					$	(18,157.7)
December 31, 2020			(16,595.3)						—						(19,038.9)						—						(19,038.9)

Fair Value, by Balance Sheet Grouping

									Fair Value Measurements Using
Description			Carrying Amount						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Fair Value
December 31, 2021
Risk-management instruments
Interest rate contracts designated as fair value hedges:
Other receivables			$	4.8					$	—					$	4.8					$	—					$	4.8
Other noncurrent assets			78.3						—						78.3						—						78.3
Other noncurrent liabilities			(7.6)						—						(7.6)						—						(7.6)
Interest rate contracts designated as cash flow hedges:
Other noncurrent assets			49.2						—						49.2						—						49.2
Other noncurrent liabilities			(31.7)						—						(31.7)						—						(31.7)
Cross-currency interest rate contracts designated as net investment hedges:
Other noncurrent assets			31.3						—						31.3						—						31.3
Other current liabilities			(1.2)						—						(1.2)						—						(1.2)
Cross-currency interest rate contracts designated as cash flow hedges:
Other noncurrent assets			33.2						—						33.2						—						33.2
Other noncurrent liabilities			(1.3)						—						(1.3)						—						(1.3)
Foreign exchange contracts not designated as hedging instruments:
Other receivables			9.9						—						9.9						—						9.9
Other current liabilities			(35.3)						—						(35.3)						—						(35.3)
Contingent consideration liabilities:
Other noncurrent liabilities			(70.5)						—						—						(70.5)						(70.5)
December 31, 2020
Risk-management instruments
Interest rate contracts designated as fair value hedges:
Other noncurrent assets			158.9						—						158.9						—						158.9
Interest rate contracts designated as cash flow hedges:
Other noncurrent assets			38.1						—						38.1						—						38.1
Other noncurrent liabilities			(97.8)						—						(97.8)						—						(97.8)
Cross-currency interest rate contracts designated as net investment hedges:
Other current liabilities			(92.6)						—						(92.6)						—						(92.6)
Other noncurrent liabilities			(97.2)						—						(97.2)						—						(97.2)
Cross-currency interest rate contracts designated as cash flow hedges:
Other noncurrent assets			34.4						—						34.4						—						34.4
Other noncurrent liabilities			(2.9)						—						(2.9)						—						(2.9)
Foreign exchange contracts not designated as hedging instruments:
Other receivables			41.1						—						41.1						—						41.1
Other current liabilities			(15.2)						—						(15.2)						—						(15.2)

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The table below summarizes the contractual maturities of our investments in debt securities measured at fair value as of December 31, 2021:

			Maturities by Period
			Total						Less Than 1 Year						1-5 Years						6-10 Years						More Than 10 Years
Fair value of debt securities			$	581.0					$	75.9					$	216.5					$	126.4					$	162.2

Available-for-sale Securities

A summary of the amount of unrealized gains and losses in accumulated other comprehensive loss and the fair value of available-for-sale securities in an unrealized gain or loss position follows:

			2021						2020
Unrealized gross gains			$	9.7					$	20.9
Unrealized gross losses			5.2						0.5
Fair value of securities in an unrealized gain position			250.7						348.9
Fair value of securities in an unrealized loss position			290.2						11.4

Gain (Loss) on Investments

Activity related to our available-for-sale securities was as follows:

			2021						2020						2019
Proceeds from sales			$	174.7					$	264.8					$	431.6
Realized gross gains on sales			2.8						4.5						4.9
Realized gross losses on sales			1.7						8.2						3.0

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