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Financial Instruments and Derivative Instruments (Tables) | 6 Months Ended
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Jun. 30, 2019
Financial Instruments and Derivative Instruments |
Schedule of carrying amount and estimated fair market value of the company's long-term debt, including current portion | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ |  | 2019 |  | 2018
​ | ​ | (in millions)
Carrying amount | ​ | $ | 345.0 | ​ | $ | 355.0
Estimated fair value | ​ | $ | 345.8 | ​ | $ | 355.4
Schedule of fair value of financial assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement at June 30, 2019 Using:
​ | ​ | ​ | ​ | ​ | Quoted Prices in Active | ​ | Significant Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | Markets for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Assets | ​ | Inputs | ​ | Inputs
​ |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
​ | ​ | (in millions)
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Plan asset for deferred compensation(1) | ​ | $ | 2.4 | ​ | $ | 2.4 | ​ | $ | — | ​ | $ | —
Interest rate swaps (1) | ​ | $ | 2.3 | ​ | $ | — | ​ | $ | 2.3 | ​ | $ | —
Total assets | ​ | $ | 4.7 | ​ | $ | 2.4 | ​ | $ | 2.3 | ​ | $ | —
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Plan liability for deferred compensation(2) | ​ | $ | 2.4 | ​ | $ | 2.4 | ​ | $ | — | ​ | $ | —
Redeemable financial instrument(3) | ​ | $ | 2.8 | ​ | $ | — | ​ | $ | — | ​ | $ | 2.8
Designated foreign currency hedges (4) | ​ | $ | 0.3 | ​ | $ | — | ​ | $ | 0.3 | ​ | $ | —
Total liabilities | ​ | $ | 5.5 | ​ | $ | 2.4 | ​ | $ | 0.3 | ​ | $ | 2.8
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at December 31, 2018 Using:
​ | ​ | ​ | ​ | ​ | Quoted Prices in Active | ​ | Significant Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | Markets for Identical | ​ | Observable | ​ | Unobservable
​ |  | ​ | ​ | ​ | Assets | ​ | Inputs | ​ | Inputs
​ | ​ | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
​ | ​ | (in millions)
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Plan asset for deferred compensation(1) | ​ | $ | 2.6 | ​ | $ | 2.6 | ​ | $ | — | ​ | $ | —
Interest rate swaps (1) | ​ | $ | 6.5 | ​ | $ | — | ​ | $ | 6.5 | ​ | $ | —
Total assets | ​ | $ | 9.1 | ​ | $ | 2.6 | ​ | $ | 6.5 | ​ | $ | —
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Plan liability for deferred compensation(2) | ​ | $ | 2.6 | ​ | $ | 2.6 | ​ | $ | — | ​ | $ | —
Redeemable financial instrument(3) | ​ | $ | 2.8 | ​ | $ | — | ​ | $ | — | ​ | $ | 2.8
Total liabilities | ​ | $ | 5.4 | ​ | $ | 2.6 | ​ | $ | — | ​ | $ | 2.8
(1) | Included on the Company’s consolidated balance sheet in other assets (other, net).
​
(2) | Included on the Company’s consolidated balance sheet in accrued compensation and benefits.
​
(3) | Included on the Company’s consolidated balance sheet in accrued expenses and other liabilities and relates to a mandatorily redeemable equity instrument as part of the Apex Valves Limited (“Apex”) acquisition in 2015.
​
(4) | Included on the Company’s consolidated balance sheet in accrued expenses and other liabilities.
​

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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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 + Details
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