3. Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value Inputs, Liabilities, Quantitative Information [Line Items]

Discussion of Current Derivative Risk Management [Table Text Block]

The following is a summary of our forward foreign currency exchange contracts (in millions):



	December 31,
	2012
Contracts maturing in January through March 2013 to sell foreign currency:
Notional value	$	67.2
Unrealized loss	$	(0.2	)
Contracts maturing in January through March 2013 to purchase foreign currency:
Notional value	$	389.1
Unrealized gain	$	0.4

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table provides a reconciliation of the Level 3 contingent consideration liabilities measured at fair value based on third party valuations for the year ended December 31, 2012 (in millions):



	2012
January 1	$	24.1
Decrease in fair value of contingent consideration for QuantaLife included in Selling, general and administrative expense	(16.1		)
Total QuantaLife	8.0
Acquisition of cell sorting system	44.6
December 31	$	52.6

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]

The following table provides quantitative information about Level 3 inputs for fair value measurement of our contingent consideration liabilities as of December 31, 2012. Significant increases or decreases in these inputs in isolation could result in a significantly lower or higher fair value measurement.



			Range
	Valuation Technique	Unobservable Input	From	To
QuantaLife	Probability-weighted income approach	Sales milestone:
		Credit adjusted discount rates	0.64%	1.03%
		Projected volatility of growth rate	12.4%	30%
		Market price of risk	0.4%	N/A
Cell sorting system	Probability-weighted income approach	Sales milestone:
		Credit adjusted discount rates	1.0%	1.7%
		Projected volatility of sales	18.0%
		Market price of risk	1.4%	N/A
		Development milestone:
		Probability	99%	100%
		Risk-adjusted discount rate	0.8%	1.0%

Schedule of Derivative Instruments [Table Text Block]

Financial assets and liabilities carried at fair value on a recurring basis

Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2012 are classified in the hierarchy as follows (in millions):



	Level 1		Level 2		Level 3		Total
Financial Assets Carried at Fair Value:
Cash equivalents (a):
Commercial paper	$	—	$	52.8	$	—	$	52.8
Foreign time deposits	10.1		—		—		10.1
U.S. government sponsored agencies	—		1.3		—		1.3
Money market funds	5.5		—		—		5.5
Total cash equivalents	15.6		54.1		—		69.7
Available-for-sale investments (b):
Corporate debt securities	—		240.6		—		240.6
Foreign brokered certificates of deposit	—		0.4		—		0.4
U.S. government sponsored agencies	—		92.7		—		92.7
Foreign government obligations	—		5.6		—		5.6
Municipal obligations	—		12.1		—		12.1
Marketable equity securities	242.1		—		—		242.1
Asset-backed securities	—		82.2		—		82.2
Total available-for-sale investments	242.1		433.6		—		675.7
Forward foreign exchange contracts (c)	—		1.1		—		1.1
Total financial assets carried at fair value	$	257.7	$	488.8	$	—	$	746.5

Financial Liabilities Carried at Fair Value:
Forward foreign exchange contracts (d)	$	—	$	0.8	$	—	$	0.8
Contingent consideration (e)	—		—		52.6		52.6
Total financial liabilities carried at fair value	$	—	$	0.8	$	52.6	$	53.4

Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2011 are classified in the hierarchy as follows (in millions):



	Level 1		Level 2		Level 3		Total
Financial Assets Carried at Fair Value:
Cash equivalents (a):
Commercial paper	$	—	$	106.0	—		$	106.0
Bonds	—		8.6		—		8.6
Foreign time deposits	21.6		—		—		21.6
Money market funds	58.3		—		—		58.3
Total cash equivalents	79.9		114.6		—		194.5
Available-for-sale investments (b):
Corporate debt securities	—		170.6		—		170.6
Foreign brokered certificates of deposit	—		1.8		—		1.8
U.S. government sponsored agencies	—		36.9		—		36.9
Foreign government obligations	—		5.7		—		5.7
Municipal obligations	—		5.0		—		5.0
Marketable equity securities	134.8		—		—		134.8
Asset-backed securities	—		11.2		—		11.2
Total available-for-sale investments	134.8		231.2		—		366.0
Forward foreign exchange contracts (c)	—		0.8		—		0.8
Total financial assets carried at fair value	$	214.7	$	346.6	—		$	561.3

Financial Liabilities Carried at Fair Value:
Forward foreign exchange contracts (d)	$	—	$	1.2	—		$	1.2
Contingent consideration (e)	—		—		24.1		24.1
Total financial liabilities carried at fair value	$	—	$	1.2	$	24.1	$	25.3


(a)	Cash equivalents are included in Cash and cash equivalents in the Consolidated Balance Sheets.


(b)	Available-for-sale investments are included in the following accounts in the Consolidated Balance Sheets (in millions):



	December 31, 2012		December 31, 2011

Short-term investments	$	457.7	$	238.8
Other assets	218.0		127.2
Total	$	675.7	$	366.0


(c)	Forward foreign exchange contracts in an asset position are included in Prepaid expenses, taxes and other current assets in the Consolidated Balance Sheets.


(d)	Forward foreign exchange contracts in a liability position are included in Other current liabilities in the Consolidated Balance Sheets.


(e)	Contingent consideration liability is included in the following accounts in the Consolidated Balance Sheet (in millions):



	December 31, 2012		December 31, 2011

Other current liabilities	$	27.3	$	8.5
Other long-term liabilities	25.3		15.6
Total	$	52.6	$	24.1

Schedule of available-for-sale investments

Available-for-sale investments consist of the following (in millions):



	December 31, 2012
	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Short-term investments:
Corporate debt securities	$	239.3	$	1.4	$	(0.1	)	$	240.6
Foreign brokered certificates of deposit	0.4		—		—			0.4
Municipal obligations	12.0		0.1		—			12.1
Asset-backed securities	81.6		0.4		(0.1		)	81.9
U.S. government sponsored agencies	92.5		0.3		(0.1		)	92.7
Foreign government obligations	5.4		—		—			5.4
Marketable equity securities	24.1		0.7		(0.2		)	24.6
	455.3		2.9		(0.5		)	457.7
Long-term investments:
Marketable equity securities	54.5		163.0		—			217.5
Asset-backed securities	0.4		—		(0.1		)	0.3
Foreign government obligations	0.2		—		—			0.2
	55.1		163.0		(0.1		)	218.0
Total	$	510.4	$	165.9	$	(0.6	)	$	675.7



	December 31, 2011
	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Short-term investments:
Corporate debt securities	$	170.9	$	0.1	$	(0.4	)	$	170.6
Foreign brokered certificates of deposit	1.8		—		—			1.8
Municipal obligations	5.0		—		—			5.0
Asset-backed securities	10.8		—		—			10.8
U.S. government sponsored agencies	36.8		0.1		—			36.9
Foreign government obligations	5.4		—		—			5.4
Marketable equity securities	7.7		0.6		—			8.3
	238.4		0.8		(0.4		)	238.8
Long-term investments:
Marketable equity securities	57.2		70.0		(0.7		)	126.5
Asset-backed securities	0.5		—		(0.1		)	0.4
Foreign government obligations	0.3		—		—			0.3
	58.0		70.0		(0.8		)	127.2
Total	$	296.4	$	70.8	$	(1.2	)	$	366.0

Summary of investments with gross unrealized losses and the associated fair value

The following is a summary of investments with gross unrealized losses and the associated fair value (in millions):



	December 31, 2012		December 31, 2011

Fair value	$	99.3	$	77.8
Gross unrealized losses for investments in a loss position 12 months or more	$	0.1	$	0.4
Gross unrealized losses for investments in a loss position less than 12 months	$	0.5	$	0.8

Summary of amortized cost and estimated fair value of debt securities by contractual maturity date

The following is a summary of the amortized cost and estimated fair value of our debt securities at December 31, 2012 by contractual maturity date (in millions):



	Amortized Cost		Estimated Fair Value

Mature in less than one year	$	159.2	$	159.3
Mature in one to five years	204.8		205.6
Mature in more than five years	67.8		68.7
Total	$	431.8	$	433.6

Estimated fair value of financial instruments

The estimated fair value of our financial instruments and the level of the fair value hierarchy within which the fair value measurement is categorized are as follows (in millions):



	December 31, 2012					December 31, 2011
	Carrying Amount		Estimated Fair Value		Fair Value Hierarchy Level	Carrying Amount		Estimated Fair Value		Fair Value Hierarchy Level

Other assets	$	293.6	$	497.8	1	$	186.6	$	252.4	1
Total long-term debt, excluding leases and current maturities	$	720.0	$	778.4	2	$	719.1	$	759.1	2