XML 29 R17.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Fair Value Measurements (Notes) | 3 Months Ended
--- | ---
Mar. 31, 2016
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements Authoritative guidance for fair value measurements establishes a fair value hierarchy which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value:
Level 1 |  | Unadjusted quoted prices in active markets for identical assets or liabilities. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
Level 2 |  | Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3 |  | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Financial Instruments that are Measured at Fair Value on a Recurring Basis We primarily apply the market approach to determine the fair value of financial instruments that are measured at fair value on a recurring basis. There were no changes to our valuation techniques used to determine the fair value of financial instruments during the three months ended March 31, 2016. The following tables present information about our financial instruments measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.
| March 31, 2016 |  | Balance Sheet Classification
| Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |
Cash equivalents | $ | 154.5 |  |  | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 154.5 |  |  | Cash and cash equivalents
Short-term marketable securities | 6.9 |  |  | 0.0 |  |  | 0.0 |  |  | 6.9 |  |  | Marketable securities
Long-term investments | 0.5 |  |  | 0.0 |  |  | 0.0 |  |  | 0.5 |  |  | Other non-current assets
Total | $ | 161.9 |  |  | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 161.9 |  |  |
As a percentage of total assets | 1.4 | % |  | 0.0 | % |  | 0.0 | % |  | 1.4 | % |  |
Liabilities |  |  |  |  |  |  |  |  |
Mandatorily redeemable noncontrolling interests 1 | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 56.9 |  |  | $ | 56.9 |  |  |
| December 31, 2015 |  | Balance Sheet Classification
| Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |
Cash equivalents | $ | 875.7 |  |  | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 875.7 |  |  | Cash and cash equivalents
Short-term marketable securities | 6.8 |  |  | 0.0 |  |  | 0.0 |  |  | 6.8 |  |  | Marketable securities
Long-term investments | 0.4 |  |  | 0.0 |  |  | 0.0 |  |  | 0.4 |  |  | Other non-current assets
Total | $ | 882.9 |  |  | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 882.9 |  |  |
As a percentage of total assets | 7.0 | % |  | 0.0 | % |  | 0.0 | % |  | 7.0 | % |  |
Liabilities |  |  |  |  |  |  |  |  |
Mandatorily redeemable noncontrolling interests 1 | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 45.0 |  |  | $ | 45.0 |  |  |
1 | Relates to unconditional obligations to purchase additional noncontrolling equity shares of consolidated subsidiaries. Fair value measurement of the obligation was based upon the amount payable as if the forward contracts were settled. The amount redeemable within the next twelve months is classified in accrued liabilities; any interests redeemable thereafter are classified in other non-current liabilities.
The following table presents additional information about financial instruments measured at fair value on a recurring basis and for which we utilized Level 3 inputs to determine fair value for the three months ended March 31, 2016 and 2015.
| Three months ended March 31,
Liabilities | 2016 |  | 2015
Mandatorily redeemable noncontrolling interests - Balance at beginning of period | $ | 45.0 |  |  | $ | 32.8 |
Level 3 additions | 10.4 |  |  | 15.0 |
Level 3 reductions | (0.1 | ) |  | (1.4 | )
Realized losses included in net income | 1.8 |  |  | 0.4 |
Foreign currency translation | (0.2 | ) |  | 0.0 |
Mandatorily redeemable noncontrolling interests - Balance at end of period | $ | 56.9 |  |  | $ | 46.8 |
Realized losses included in net income for mandatorily redeemable noncontrolling interests are reported as a component of interest expense in the unaudited Consolidated Statements of Operations. Financial Instruments that are not Measured at Fair Value on a Recurring Basis The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
| March 31, 2016 |  | December 31, 2015
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Total long-term debt | $ | 0.0 |  |  | $ | 1,571.5 |  |  | $ | 74.3 |  |  | $ | 1,645.8 |  |  | $ | 0.0 |  |  | $ | 1,531.4 |  |  | $ | 75.2 |  |  | $ | 1,606.6 |
Our long-term debt is comprised of senior notes and other notes payable. The fair value of our senior notes traded over-the-counter is based on quoted prices for such securities, but for which fair value can also be derived from inputs that are readily observable. Therefore, these senior notes are classified as Level 2 within the fair value hierarchy. Our other notes payable are not actively traded, and their fair value is not solely derived from readily observable inputs. Thus, the fair value of our other notes payable is determined based on proprietary valuation methods and therefore are classified as Level 3 within the fair value hierarchy. See Note 2 for further information on our long-term debt. Non-financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis Certain non-financial assets and liabilities are measured at fair value on a recurring basis, primarily accrued restructuring charges. Non-financial Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis Certain non-financial assets and liabilities are measured at fair value on a nonrecurring basis, primarily goodwill, intangible assets, and property and equipment. Accordingly, these assets are not measured and adjusted to fair value on an ongoing basis but are subject to periodic evaluations for potential impairment.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_FairValueMeasurementInputsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration