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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

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, excluding pension assets, measured at fair value on a recurring basis (in millions):

												Fair Value Hierarchy
Description						As of December 31, 2019						Level 1						Level 2						Level 3
Assets:
Cash, cash equivalents:
Demand and time deposits						$	28.2					$	28.2					—						—

												Fair Value Hierarchy
Description						As of December 31, 2018						Level 1						Level 2						Level 3
Assets:
Cash, cash equivalents:
Demand and time deposits						$	21.2					$	21.2					—						—

Fair Value, by Balance Sheet Grouping

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

			As of December 31,
			2019																		2018
			Carrying Amount						Fair Value						Carrying Amount						Fair Value
Long-term debt, including current portion
Convertible notes (1)			$	1,163.1					$	1,730.2					$	1,120.6					$	1,368.5
Long-term debt (1)			2,449.3						2,427.8						1,615.1						1,585.9

_______________________

(1)  Carrying amount shown is net of debt discounts and debt issuance costs.

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 (in millions):

						Year Ended December 31,
						2019						2018						2017
Nonrecurring fair value measurements
Impairment of property, plant and equipment held-for-sale or disposal (Level 3)						$	3.4					$	2.4					$	7.9
Goodwill and IPRD (Level 3)						1.6						6.8						13.1
						$	5.0					$	9.2					$	21.0

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
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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

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-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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