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Fair Value of Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2020
Fair Value of Financial Instruments |
Schedule of financial instruments measured at fair value on a recurring basis | The following tables set forth the Company's financial instruments measured at fair value on a recurring basis and presents them within the fair value hierarchy using the lowest level of input that is significant to the fair value measurement at March 31, 2020 and December 31, 2019 (dollars in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Quoted Prices |  | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | in Active | ​ | Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | Markets | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Available | ​ | Inputs | ​ | Inputs
March 31, 2020 |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate and cross currency swap agreements | ​ | $ | 21.1 | ​ | $ | — | ​ | $ | 21.1 | ​ | $ | —
Foreign exchange contracts | ​ | ​ | 0.8 | ​ | ​ | — | ​ | ​ | 0.8 | ​ | ​ | —
Embedded derivatives in purchase and delivery contracts | ​ | ​ | 0.1 | ​ | ​ | — | ​ | ​ | 0.1 | ​ | ​ | —
Total assets recorded at fair value | ​ | $ | 22.0 | ​ | $ | — | ​ | $ | 22.0 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration | ​ | $ | 11.9 | ​ | $ | — | ​ | $ | — | ​ | $ | 11.9
Hybrid instrument liability | ​ | ​ | 10.9 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 10.9
Interest rate and cross currency swap agreements | ​ | ​ | 17.0 | ​ | ​ | — | ​ | ​ | 17.0 | ​ | ​ | —
Foreign exchange contracts | ​ | ​ | 0.8 | ​ | ​ | — | ​ | ​ | 0.8 | ​ | ​ | —
Fixed price commodity contracts | ​ | ​ | 0.8 | ​ | ​ | — | ​ | ​ | 0.8 | ​ | ​ | —
Total liabilities recorded at fair value | ​ | $ | 41.4 | ​ | $ | — | ​ | $ | 18.6 | ​ | $ | 22.8
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Quoted Prices |  | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | in Active | ​ | Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | Markets | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Available | ​ | Inputs | ​ | Inputs
December 31, 2019 |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate and cross currency swap agreements | ​ | $ | 10.1 | ​ | $ | — | ​ | $ | 10.1 | ​ | $ | —
Foreign exchange contracts | ​ | ​ | 0.9 | ​ | ​ | — | ​ | ​ | 0.9 | ​ | ​ | —
Embedded derivatives in purchase and delivery contracts | ​ | ​ | 0.1 | ​ | ​ | — | ​ | ​ | 0.1 | ​ | ​ | —
Fixed price commodity contracts | ​ | ​ | 0.3 | ​ | ​ | — | ​ | ​ | 0.3 | ​ | ​ | —
Total assets recorded at fair value | ​ | $ | 11.4 | ​ | $ | — | ​ | $ | 11.4 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration | ​ | $ | 15.8 | ​ | $ | — | ​ | $ | — | ​ | $ | 15.8
Hybrid instrument liability | ​ | ​ | 10.6 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 10.6
Interest rate and cross currency swap agreements | ​ | ​ | 16.9 | ​ | ​ | — | ​ | ​ | 16.9 | ​ | ​ | —
Foreign exchange contracts | ​ | ​ | 0.4 | ​ | ​ | — | ​ | ​ | 0.4 | ​ | ​ | —
Embedded derivatives in purchase and delivery contracts | ​ |  | 0.6 | ​ |  | — | ​ |  | 0.6 | ​ |  | —
Total liabilities recorded at fair value | ​ | $ | 44.3 | ​ | $ | — | ​ | $ | 17.9 | ​ | $ | 26.4
Schedule of changes in contingent consideration liabilities | ​ The following table sets forth the changes in contingent consideration liabilities for the three months ended March 31, 2020 (dollars in millions): ​
​ | ​ | ​ | ​
Balance at December 31, 2019 |  | $ | 15.8
Current period adjustments | ​ |  | (2.3)
Current period settlements | ​ |  | (1.5)
Foreign currency effect | ​ |  | (0.1)
Balance at March 31, 2020 | ​ | $ | 11.9
Schedule of changes in hybrid instrument liability | The following table sets forth the changes in hybrid instrument liability for the three months ended March 31, 2020 (dollars in millions): ​
​ | ​ | ​ | ​
Balance at December 31, 2019 |  | $ | 10.6
Current period adjustments | ​ | ​ | 0.3
Balance at March 31, 2020 | ​ | $ | 10.9

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + 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 (c) -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 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -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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