| Summary of Assets and Liabilities Measured at Fair Value |
A summary of our assets and liabilities that are measured at fair value on a recurring basis is as follows: | | | | | | | | | | | | | | | | | | | | Fair value measurements at June 30, 2018 using: | Description | June 30,
2018 | | Quoted prices in active markets for identical assets (Level 1) | | Significant other observable inputs (Level 2) | | Significant unobservable inputs (Level 3) | | in millions | Assets: | | | | | | | | Derivative instruments: | | | | | | | | Cross-currency and interest rate derivative contracts | $ | 1,715.7 |
| | $ | — |
| | $ | 1,715.0 |
| | $ | 0.7 |
| Equity-related derivative instruments | 491.9 |
| | — |
| | — |
| | 491.9 |
| Foreign currency forward and option contracts | 13.6 |
| | — |
| | 13.6 |
| | — |
| Other | 0.1 |
| | — |
| | 0.1 |
| | — |
| Total derivative instruments | 2,221.3 |
| | — |
| | 1,728.7 |
| | 492.6 |
| Investments | 2,164.1 |
| | 1,717.1 |
| | — |
| | 447.0 |
| Total assets | $ | 4,385.4 |
| | $ | 1,717.1 |
| | $ | 1,728.7 |
| | $ | 939.6 |
| | | | | | | | | Liabilities: | | | | | | | | Derivative instruments: | | | | | | | | Cross-currency and interest rate derivative contracts | $ | 1,640.6 |
| | $ | — |
| | $ | 1,632.6 |
| | $ | 8.0 |
| Equity-related derivative instruments | 1.7 |
| | — |
| | — |
| | 1.7 |
| Foreign currency forward and option contracts | 4.5 |
| | — |
| | 4.5 |
| | — |
| Other | 0.1 |
| | — |
| | 0.1 |
| | — |
| Total derivative instruments | 1,646.9 |
| | — |
| | 1,637.2 |
| | 9.7 |
| Debt | 881.7 |
| | 600.6 |
| | 281.1 |
| | — |
| Total liabilities | $ | 2,528.6 |
| | $ | 600.6 |
| | $ | 1,918.3 |
| | $ | 9.7 |
|
| | | | | | | | | | | | | | | | | | | | Fair value measurements at December 31, 2017 using: | Description | December 31, 2017 | | Quoted prices in active markets for identical assets (Level 1) | | Significant other observable inputs (Level 2) | | Significant unobservable inputs (Level 3) | | in millions | Assets: | | | | | | | | Derivative instruments: | | | | | | | | Cross-currency and interest rate derivative contracts | $ | 1,548.9 |
| | $ | — |
| | $ | 1,548.7 |
| | $ | 0.2 |
| Equity-related derivative instruments | 560.9 |
| | — |
| | — |
| | 560.9 |
| Foreign currency forward and option contracts | 17.1 |
| | — |
| | 17.1 |
| | — |
| Other | 0.8 |
| | — |
| | 0.8 |
| | — |
| Total derivative instruments | 2,127.7 |
| | — |
| | 1,566.6 |
| | 561.1 |
| Investments | 2,315.3 |
| | 1,908.7 |
| | — |
| | 406.6 |
| Total assets | $ | 4,443.0 |
| | $ | 1,908.7 |
| | $ | 1,566.6 |
| | $ | 967.7 |
| | | | | | | | | Liabilities: | | | | | | | | Derivative instruments: | | | | | | | | Cross-currency and interest rate derivative contracts | $ | 1,767.9 |
| | $ | — |
| | $ | 1,764.5 |
| | $ | 3.4 |
| Equity-related derivative instruments | 5.4 |
| | — |
| | — |
| | 5.4 |
| Foreign currency forward and option contracts | 7.9 |
| | — |
| | 7.9 |
| | — |
| Total derivative instruments | 1,781.2 |
| | — |
| | 1,772.4 |
| | 8.8 |
| Debt | 926.6 |
| | 621.7 |
| | 304.9 |
| | — |
| Total liabilities | $ | 2,707.8 |
| | $ | 621.7 |
| | $ | 2,077.3 |
| | $ | 8.8 |
|
|
| Schedule of Reconciliation of the Beginning and Ending Balances of Assets and Liabilities Measured at Fair Value Using Significant Unobservable, or Level 3, Inputs |
A reconciliation of the beginning and ending balances of our assets and liabilities measured at fair value on a recurring basis using significant unobservable, or Level 3, inputs is as follows: | | | | | | | | | | | | | | | | | | Investments | | Cross-currency and interest rate derivative contracts | | Equity-related derivative instruments | | Total | | in millions | | | | | | | | | Balance of net assets (liabilities) at January 1, 2018 | $ | 406.6 |
| | $ | (3.2 | ) | | $ | 555.5 |
| | $ | 958.9 |
| Gains (losses) included in earnings (loss) from continuing operations (a): | | | | | | |
|
| Realized and unrealized losses on derivative instruments, net | — |
| | (4.5 | ) | | (57.2 | ) | | (61.7 | ) | Realized and unrealized gains due to changes in fair values of certain investments and debt, net | 4.4 |
| | — |
| | — |
| | 4.4 |
| Impact of ASU 2016-01 | 31.9 |
| | — |
| | — |
| | 31.9 |
| Additions | 25.1 |
| | 0.2 |
| | — |
| | 25.3 |
| Dispositions | (12.1 | ) | | — |
| | — |
| | (12.1 | ) | Final settlement of Sumitomo Collar (b) | — |
| | — |
| | (7.4 | ) | | (7.4 | ) | Transfers out of Level 3 | (2.0 | ) | | — |
| | — |
| | (2.0 | ) | Foreign currency translation adjustments, dividends and other, net | (6.9 | ) | | 0.2 |
| | (0.7 | ) | | (7.4 | ) | Balance of net assets (liabilities) at June 30, 2018 | $ | 447.0 |
| | $ | (7.3 | ) | | $ | 490.2 |
| | $ | 929.9 |
|
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| | (a) | Most of these net gains and losses relate to assets and liabilities that we continue to carry on our condensed consolidated balance sheet as of June 30, 2018. |
| | (b) | For information regarding the settlement of the final tranche of the Sumitomo Collar, see note 6. |
|