Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.8.0.1
Fair Value Measurements
3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Fair Value Measurements

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018:
(in millions)
Level 1
 
Level 2
 
Total
Assets:
 
 
 
 
 
Short-term investments in marketable securities
$
0.8

 
$

 
$
0.8

Restricted cash
9.4

 

 
9.4

Derivatives

 
6.1

 
6.1

Total assets
$
10.2

 
$
6.1

 
$
16.3

 
 
 
 
 
 
Liabilities:
 

 
 

 
 

Derivatives
$

 
$
11.7

 
$
11.7

Deferred compensation
3.6

 
27.8

 
31.4

Total liabilities at fair value
$
3.6

 
$
39.5

 
$
43.1

Liabilities measured at net asset value
 
 
 
 
8.8

Total liabilities
 
 
 
 
$
51.9


The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2017:
(in millions)
Level 1
 
Level 2
 
Total
Assets:
 
 
 
 
 
Cash equivalents
$
34.4

 
$

 
$
34.4

Short-term investments in marketable securities
0.8

 

 
0.8

Restricted cash
9.4

 

 
9.4

Derivatives

 
6.0

 
6.0

Total assets
$
44.6

 
$
6.0

 
$
50.6

 
 
 
 
 
 
Liabilities:
 

 
 

 
 

Derivatives
$

 
$
7.7

 
$
7.7

Deferred compensation
4.0

 
28.6

 
32.6

Total liabilities at fair value
$
4.0

 
$
36.3

 
$
40.3

Liabilities measured at net asset value
 
 
 
 
10.5

Total liabilities
 
 
 
 
$
50.8



The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of April 1, 2017:
(in millions)
Level 1
 
Level 2
 
Total
Assets:
 
 
 
 
 
Cash equivalents
$
3.7

 
$

 
$
3.7

Short-term investments in marketable securities
0.7

 

 
0.7

Restricted cash
11.2

 

 
11.2

Derivatives

 
7.8

 
7.8

Total assets
$
15.6

 
$
7.8

 
$
23.4

 
 
 
 
 
 
Liabilities:
 

 
 

 
 

Derivatives
$

 
$
4.8

 
$
4.8

Deferred compensation
4.3

 
27.2

 
31.5

Total liabilities at fair value
$
4.3

 
$
32.0

 
$
36.3

Liabilities measured at net asset value
 
 
 
 
10.4

Total liabilities
 
 
 
 
$
46.7



In addition to the items shown in the tables above, refer to Note 17 in the Notes to Consolidated Financial Statements in the 2017 Form 10-K for further discussion regarding the fair value measurements associated with the Company’s postretirement benefit plans.