Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.19.3
Fair Value Measurements
9 Months Ended
Sep. 28, 2019
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 September 28, 2019:
(in millions)
Level 1
 
Level 2
 
Total
Assets:
 
 
 
 
 
Cash equivalents
$
0.2

 
$

 
$
0.2

Short-term investments in marketable securities
0.8

 

 
0.8

Restricted cash
11.6

 

 
11.6

Derivatives

 
11.7

 
11.7

Total assets
$
12.6

 
$
11.7

 
$
24.3

 
 
 
 
 
 
Liabilities:
 

 
 

 
 

Derivatives
$

 
$
1.8

 
$
1.8

Deferred compensation
1.1

 
20.6

 
21.7

Total liabilities at fair value
$
1.1

 
$
22.4

 
$
23.5

Liabilities measured at net asset value
 
 
 
 
10.3

Total liabilities
 
 
 
 
$
33.8


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

 
$

 
$
0.8

Restricted cash
9.0

 

 
9.0

Derivatives

 
7.6

 
7.6

Total assets
$
9.8

 
$
7.6

 
$
17.4

 
 
 
 
 
 
Liabilities:
 

 
 

 
 

Derivatives
$

 
$
2.2

 
$
2.2

Deferred compensation
3.5

 
20.7

 
24.2

Total liabilities at fair value
$
3.5

 
$
22.9

 
$
26.4

Liabilities measured at net asset value
 
 
 
 
10.2

Total liabilities
 
 
 
 
$
36.6



The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 29, 2018:
(in millions)
Level 1
 
Level 2
 
Total
Assets:
 
 
 
 
 
Short-term investments in marketable securities
$
0.8

 
$

 
$
0.8

Restricted cash
9.5

 

 
9.5

Derivatives

 
4.6

 
4.6

Total assets
$
10.3

 
$
4.6

 
$
14.9

 
 
 
 
 
 
Liabilities:
 

 
 

 
 

Derivatives
$

 
$
4.9

 
$
4.9

Deferred compensation
4.2

 
27.7

 
31.9

Total liabilities at fair value
$
4.2

 
$
32.6

 
$
36.8

Liabilities measured at net asset value
 
 
 
 
11.0

Total liabilities
 
 
 
 
$
47.8



In addition to the items shown in the tables above, refer to Note 18 in the Notes to Consolidated Financial Statements in the 2018 Form 10-K for further discussion regarding the fair value measurements associated with the Company’s postretirement benefit plans.