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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Of Assets And Liabilities Measured On Recurring Basis

The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and December 31, 2015 (in millions):

						Fair Value Measurements as of December 31, 2016
Description		Balance as of December 31, 2016				Level 1				Level 2			Level 3
Assets:
Cash, cash equivalents:
Demand and time deposits		$	67.2			$	67.2			—			—
Money market funds		$	30.3			$	30.3			—			—
Liabilities:
Contingent consideration		$	4.5			—				—			$	4.5

During the year ended December 31, 2016, the contingent consideration for the AXSEM acquisition was reduced from $5.0 million to $4.5 million due to the revision of the Company’s expectations of the Earn-out achievement. 

						Fair Value Measurements as of December 31, 2015
Description		Balance as of December 31, 2015				Level 1				Level 2				Level 3
Assets:
Cash, cash equivalents:
Demand and time deposits		$	9.5			$	9.5			—				—
Money market funds		$	33.2			$	33.2			—				—
Liabilities:
Designated cash flow hedges		$	0.2			—				$	0.2			—
Foreign currency exchange contracts		$	0.1			—				$	0.1			—
Contingent consideration		$	5.0			—				—				$	5.0

Fair Value, by Balance Sheet Grouping

The carrying amounts and fair values of the Company’s long-term borrowings (excluding capital lease obligations, real estate mortgages and equipment financing) at December 31, 2016 and December 31, 2015 are as follows (in millions):

	December 31, 2016								December 31, 2015
	Carrying Amount				Fair Value				Carrying Amount				Fair Value
Long-term debt, including current portion
Convertible Notes (1)	$	953.6			$	1,160.9			$	925.0			$	1,041.9
Long-term debt (1)	$	2,616.3			$	2,731.5			$	386.9			$	386.6

_______________________

(1) Carrying amount shown is net of debt discounts and debt issuance costs. See Note 8: ''Long-Term Debt'' for additional information.

Fair Value Measurements, Nonrecurring

The following table shows the adjustments to fair value of certain of the Company's non-financial assets that had an impact on the Company's results of operations during the years ended December 31, 2016, December 31, 2015 and December 31, 2014 (in millions):

		Year Ended
		December 31, 2016				December 31, 2015				December 31, 2014
Nonrecurring fair value measurements
Impairment of property, plant and equipment held for use or disposal (Level 3)		$	0.5			$	0.2			$	6.0
Goodwill impairment (Level 3)		—				—				8.7
IPRD (Level 3)		2.2				3.8				0.9
		$	2.7			$	4.0			$	15.6

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611

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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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
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