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Financial Instruments And Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2021
Fair Value Disclosures [Abstract] |
Gains recognized related to equity investments | The following is information on gains recognized during the three months ended March 31 related to equity investments:
| 2021 |  | 2020
Net gains recognized during the period on equity securities | $ | 7.5 |  |  | $ | — |
Less: Net gains recognized during the period on equity securities sold during the period | 7.5 |  |  | — |
Unrealized gains recognized during the reporting period on equity securities still held at the reporting date | $ | — |  |  | $ | — |
Summary Of Carrying Values And Fair Values Of Fixed Rate Debt | A summary of the aggregate carrying values and fair values of our fixed rate long-term debt is as follows:
| March 31, 2021 |  | December 31, 2020
Carrying value | $ | 1,798.4 |  |  | $ | 2,101.8 |
Fair value | $ | 1,999.8 |  |  | $ | 2,341.1 |
Nonfinancial Assets Measured and Recorded At Fair Value On A Nonrecurring Basis | The following table presents assets measured and recorded at fair value on a nonrecurring basis during the three months ended March 31, 2021 and 2020:
|  | 2021 |  | 2020
Description |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) |  | Gain/(Loss) |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) |  | Gain/(Loss)
Goodwill |  | $ | — |  |  | $ | — |  |  | $ | 457.5 |  |  | $ | (318.3) |
Franchise rights and other |  | $ | — |  |  | $ | — |  |  | $ | 26.2 |  |  | $ | (59.9) |
Right-of-use assets |  | $ | — |  |  | $ | (0.1) |  |  | $ | 1.4 |  |  | $ | (0.4) |
Long-lived assets held and used |  | $ | 6.0 |  |  | $ | (0.9) |  |  | $ | 1.8 |  |  | $ | (5.7) |
Quantitative Information about Level 3 Fair Value Measurements |
Quantitative Information about Level 3 Fair Value Measurements
Description |  | Fair Value at March 31, 2020 |  | Valuation Technique |  | Unobservable Input |  | Range (Average)
Franchise rights |  | $ | 24.6 |  |  | Discounted cash flow |  | Weighted average cost of capital |  | 8.5 | %
|  |  |  |  |  | Discount rate |  | 11.1% - 14.3% (12.1%)
|  |  |  |  |  | Long-term revenue growth rate |  | 2.0 | %
|  |  |  |  |  | Long-term pretax income margin |  | 0.6% - 2.8% (1.4%)
|  |  |  |  |  | Contributory asset charges |  | 4.2% - 12.1% (6.2%)

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- 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) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 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 (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: 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 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=121572278&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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