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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Financial Instruments Measured at Fair Value on a Recurring Basis

The following table summarizes the Company's financial instruments which are measured at fair value on a recurring basis as of December 31, 2020 and 2019 (in millions):

December 31, 2020			Level 1						Level 2						Level 3						Total
Assets
Cash equivalents			$	16.2					$	—					$	—					$	16.2
Available-for-sale investments:
Bank time deposits			—						24.1						—						24.1
Corporate debt securities			—						608.3						—						608.3
Asset-backed securities			—						151.5						—						151.5
U.S. government and agency securities			56.9						92.2						—						149.1
Municipal securities			—						2.8						—						2.8
Investments held for deferred compensation plans			111.2						—						—						111.2
Derivatives			—						8.1						—						8.1
			$	184.3					$	887.0					$	—					$	1,071.3
Liabilities
Derivatives			$	—					$	39.3					$	—					$	39.3
Deferred compensation plans			111.6						—						—						111.6
Contingent consideration liabilities			—						—						186.1						186.1
			$	111.6					$	39.3					$	186.1					$	337.0
December 31, 2019
Assets
Cash equivalents			$	0.7					$	31.7					$	—					$	32.4
Available-for-sale investments:
Bank time deposits			—						13.1						—						13.1
Corporate debt securities			—						489.2						—						489.2
Asset-backed securities			—						141.7						—						141.7
U.S. government and agency securities			76.1						37.7						—						113.8
Foreign government bonds			—						1.7						—						1.7
Commercial paper			—						34.3						—						34.3
Investments held for deferred compensation plans			88.9						—						—						88.9
Derivatives			—						30.7						—						30.7
			$	165.7					$	780.1					$	—					$	945.8
Liabilities
Derivatives			$	—					$	6.4					$	—					$	6.4
Deferred compensation plans			88.7						—						—						88.7
Contingent consideration liabilities			—						—						172.5						172.5
			$	88.7					$	6.4					$	172.5					$	267.6

Summary of Changes in Fair Value of Contingent Consideration Obligation

The following table summarizes the changes in fair value of the contingent consideration obligation for the years ended December 31, 2020 and 2019 (in millions):

			December 31,
			2020						2019
Fair value, beginning of year			$	172.5					$	178.6
Changes in fair value			13.6						(6.1)
Fair value, end of year			$	186.1					$	172.5

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- References

No definition available.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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