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3. Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

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

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 estimated fair value based on original valuations and updated quarterly for the year ended December 31, 2015 (in millions):

	2015
Cell sorting system:
January 1	$	17.7
Payment of sales milestone	(3.0		)
Net decrease in estimated fair value of contingent consideration included in Selling, general and administrative expense	(5.6		)
December 31	$	9.1

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, 2015. 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
Cell sorting system	Probability-weighted income approach	Sales milestone:
		Credit adjusted discount rates	0.29%	0.83%
		Projected volatility of growth rates	10.0%	N/A
		Market price of risk	1.30%	N/A

Schedule of Derivative Instruments [Table Text Block]

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

	December 31,
	2015
Contracts maturing in January through April 2016 to sell foreign currency:
Notional value	$	28.1
Unrealized loss	$	0.1
Contracts maturing in January through April 2016 to purchase foreign currency:
Notional value	$	287.4
Unrealized loss	$	0.1

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, 2015 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	$	—			$	33.2			$	—			$	33.2
Foreign government obligations	—				0.6				—				$	0.6
Foreign time deposits	11.9				—				—				11.9
U.S. government sponsored agencies	—				14.6				—				14.6
Money market funds	11.3				—				—				11.3
Total cash equivalents	23.2				48.4				—				71.6
Restricted investment:	4.2				—				—				4.2
Available-for-sale investments (b):
Corporate debt securities	—				156.9				—				156.9
U.S. government sponsored agencies	—				74.8				—				74.8
Foreign government obligations	—				4.6				—				4.6
Municipal obligations	—				6.4				—				6.4
Marketable equity securities	660.1				—				—				660.1
Asset-backed securities	—				54.8				—				54.8
Total available-for-sale investments	660.1				297.5				—				957.6
Forward foreign exchange contracts (c)	—				0.9				—				0.9
Total financial assets carried at fair value	$	687.5			$	346.8			$	—			$	1,034.3
Financial Liabilities Carried at Fair Value:
Forward foreign exchange contracts (d)	$	—			$	1.1			$	—			$	1.1
Contingent consideration (e)	—				—				19.1				19.1
Total financial liabilities carried at fair value	$	—			$	1.1			$	19.1			$	20.2

Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2014 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	$	—			$	4.0			—				$	4.0
Foreign time deposits	16.5				—				—				16.5
Money market funds	2.2				—				—				2.2
Total cash equivalents	18.7				4.0				—				22.7
Available-for-sale investments (b):
Corporate debt securities	—				139.9				—				139.9
Foreign brokered certificates of deposit	—				5.2				—				5.2
U.S. government sponsored agencies	—				47.5				—				47.5
Foreign government obligations	—				4.0				—				4.0
Municipal obligations	—				6.5				—				6.5
Marketable equity securities	334.4				—				—				334.4
Asset-backed securities	—				48.4				—				48.4
Total available-for-sale investments	334.4				251.5				—				585.9
Forward foreign exchange contracts (c)	—				0.6				—				0.6
Total financial assets carried at fair value	$	353.1			$	256.1			—				$	609.2
Financial Liabilities Carried at Fair Value:
Forward foreign exchange contracts (d)	$	—			$	1.7			—				$	1.7
Contingent consideration (e)	—				—				27.7				27.7
Total financial liabilities carried at fair value	$	—			$	1.7			$	27.7			$	29.4

(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, 2015				December 31, 2014
Short-term investments	$	328.7			$	284.4
Other investments	628.9				301.5
Total	$	957.6			$	585.9

(c) Forward foreign exchange contracts in an asset position are included in 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 liabilities are included in the following accounts in the Consolidated Balance Sheets (in millions):

	December 31, 2015				December 31, 2014
Other current liabilities	$	13.5			$	13.1
Other long-term liabilities	5.6				14.6
Total	$	19.1			$	27.7

Schedule of available-for-sale investments

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

	December 31, 2015
	Amortized Cost				Unrealized Gains				Unrealized Losses				Estimated Fair Value
Short-term investments:
Corporate debt securities	$	157.2			$	0.1			$	(0.4	)		$	156.9
Municipal obligations	6.4				—				—				6.4
Asset-backed securities	54.8				—				(0.2		)		54.6
U.S. government sponsored agencies	74.9				0.1				(0.2		)		74.8
Foreign government obligations	4.6				—				—				4.6
Marketable equity securities	29.4				2.7				(0.7		)		31.4
	327.3				2.9				(1.5		)		328.7
Long-term investments:
Marketable equity securities	54.5				574.2				—				628.7
Asset-backed securities	0.3				—				(0.1		)		0.2
	54.8				574.2				(0.1		)		628.9
Total	$	382.1			$	577.1			$	(1.6	)		$	957.6

	December 31, 2014
	Amortized Cost				Unrealized Gains				Unrealized Losses				Estimated Fair Value
Short-term investments:
Corporate debt securities	$	139.7			$	0.4			$	(0.2	)		$	139.9
Foreign brokered certificates of deposit	5.2				—				—				5.2
Municipal obligations	6.5				—				—				6.5
Asset-backed securities	48.2				—				(0.2		)		48.0
U.S. government sponsored agencies	47.4				0.1				—				47.5
Foreign government obligations	4.0				—				—				4.0
Marketable equity securities	29.0				4.5				(0.2		)		33.3
	280.0				5.0				(0.6		)		284.4
Long-term investments:
Marketable equity securities	54.5				246.6				—				301.1
Asset-backed securities	0.4				—				—				0.4
	54.9				246.6				—				301.5
Total	$	334.9			$	251.6			$	(0.6	)		$	585.9

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, 2015				December 31, 2014
Fair value of investments in a loss position 12 months or more	$	10.4			$	8.4
Fair value of investments in a loss position less than 12 months	$	204.0			$	90.7
Gross unrealized losses for investments in a loss position 12 months or more	$	0.4			$	0.2
Gross unrealized losses for investments in a loss position less than 12 months	$	1.2			$	0.4

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, 2015 by contractual maturity date (in millions):

	Amortized Cost				Estimated Fair Value
Mature in less than one year	$	104.9			$	104.8
Mature in one to five years	143.0				142.7
Mature in more than five years	50.3				50.0
Total	$	298.2			$	297.5

Estimated fair value of financial instruments

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

	December 31, 2015										December 31, 2014
	Carrying  Amount				Estimated  Fair  Value				Fair Value Hierarchy Level		Carrying  Amount				Estimated  Fair  Value				Fair Value Hierarchy Level
Other investments	$	86.5			$	843.2			2		$	82.6			$	401.1			2
Total long-term debt, excluding leases and current maturities	$	423.7			$	454.3			2		$	423.5			$	454.9			2

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