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Financial Instruments And Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Gains recognized related to equity investments

The following is information on gains recognized during the nine months ended September 30, 2021 and 2020, related to equity investments:

			2021						2020
Net gains recognized during the period on equity securities			$	10.9					$	214.7
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			$	3.4					$	214.7

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:

			September 30, 2021						December 31, 2020
Carrying value			$	2,680.3					$	2,101.8
Fair value			$	2,885.4					$	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 nine months ended September 30, 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)
Equity investment						$	53.4					$	3.4					$	—					$	—
Right-of-use assets						$	—					$	(0.1)					$	5.0					$	(2.0)
Long-lived assets held and used						$	10.4					$	(3.1)					$	1.8					$	(6.9)

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%)

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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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).

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