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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are summarized as follows:
 
 Fair Value Measurements as of
 December 31, 2021December 31, 2020
 (in millions)
Assets
Time deposits$— $4.2 
Foreign currency derivatives8.7 — 
Deferred compensation assets10.9 8.6 
$19.6 $12.8 
Liabilities
Deferred compensation liabilities$11.4 $8.9 
Foreign currency derivatives— 9.5 
$11.4 $18.4 
Schedule of Carrying Value of Financial Instruments
The carrying values of our significant financial instruments reflected in the Consolidated Balance Sheets approximate their respective fair values, except for the following:
 December 31, 2021December 31, 2020
 Carrying
Value
Fair
Value
Carrying
Value
Fair
Value
 (in millions)
Long-term debt$976.6 $998.3 $491.3 $520.8