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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Carrying Value and Fair Value of Debt

The carrying value and fair value of debt as of December 31, 2019 and 2018 were as follows:

 

(In millions)

 

December 31, 2019

 

 

December 31, 2018

 

 

 

Carrying

Value

 

 

Fair

Value

 

 

Carrying

Value

 

 

Fair

Value

 

Revolving credit facility

 

$

 

 

$

 

 

$

320.0

 

 

$

320.0

 

Term Loan

 

 

 

 

 

 

 

 

525.0

 

 

 

525.0

 

Senior Notes, net of underwriting commissions and price

   discounts

 

 

2,184.3

 

 

 

2,271.4

 

 

 

1,489.0

 

 

 

1,490.4

 

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 and 2018 were as follows:

 

(In millions)

 

Fair Value

 

 

 

2019

 

 

 

2018

 

Assets:

 

 

 

 

 

 

 

 

 

Derivative asset financial instruments (level 2)

 

$

3.0

 

 

 

$

6.0

 

Deferred compensation program assets (level 2)

 

 

12.1

 

 

 

 

9.3

 

Total assets

 

$

15.1

 

 

 

$

15.3

 

Liabilities:

 

 

 

 

 

 

 

 

 

Derivative liability financial instruments (level 2)

 

$

2.5

 

 

 

$

1.9