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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020						Level 1						Level 2						Level 3
Assets:
Cash, cash equivalents:
Demand and time deposits						$	8.5					$	8.5					—						—

												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, by Balance Sheet Grouping

The carrying amounts and fair value of the Company’s long-term borrowings are as follows (in millions):

			As of December 31,
			2020												2019
			Carrying Amount						Fair Value						Carrying Amount						Fair Value
Long-term debt, including current portion (1)
Convertible notes			$	515.6					$	967.1					$	1,163.1					$	1,730.2
Long-term debt			2,975.7						2,966.8						2,449.3						2,427.8

_______________________

(1)     Long-term debt is carried on the Consolidated Balance Sheets at historical cost net of debt discount and 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,
						2020						2019						2018
Nonrecurring fair value measurements
Asset impairments (Level 3)						$	17.5					$	3.4					$	2.4
Goodwill and IPRD impairments (Level 3)						1.3						1.6						6.8
						$	18.8					$	5.0					$	9.2

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

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-Publisher FASB
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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

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-Publisher FASB
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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
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-Section 50
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-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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