Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present information about our financial instruments measured at fair value on a recurring basis as of March 31, 2017 and December 31, 2016, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 
March 31, 2017
 
Balance Sheet Classification
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
192.5

 
$
0.0

 
$
0.0

 
$
192.5

 
Cash and cash equivalents
Short-term marketable securities
3.1

 
0.0

 
0.0

 
3.1

 
Marketable securities
Long-term investments
0.4

 
0.0

 
0.0

 
0.4

 
Other non-current assets
Total
$
196.0

 
$
0.0

 
$
0.0

 
$
196.0

 
 
 
 
 
 
 
 
 
 
 
 
As a percentage of total assets
1.7
%
 
0.0
%
 
0.0
%
 
1.7
%
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Contingent acquisition obligations 1
$
0.0

 
$
0.0

 
$
222.5

 
$
222.5

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
Balance Sheet Classification
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
440.8

 
$
0.0

 
$
0.0

 
$
440.8

 
Cash and cash equivalents
Short-term marketable securities
3.0

 
0.0

 
0.0

 
3.0

 
Marketable securities
Long-term investments
0.4

 
0.0

 
0.0

 
0.4

 
Other non-current assets
Total
$
444.2

 
$
0.0

 
$
0.0

 
$
444.2

 
 
 
 
 
 
 
 
 
 
 
 
As a percentage of total assets
3.6
%
 
0.0
%
 
0.0
%
 
3.6
%
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Contingent acquisition obligations 1
$
0.0

 
$
0.0

 
$
205.4

 
$
205.4

 
 
 

1
Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional noncontrolling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The increase in this balance of $17.1 from December 31, 2016 to March 31, 2017 is primarily due to acquisitions and exercised put options of $15.9, partially offset by payments of $5.3. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of March 31, 2017 and December 31, 2016, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 
March 31, 2017
 
December 31, 2016
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
Total long-term debt
$
0.0

 
$
1,585.2

 
$
66.1

 
$
1,651.3

 
$
0.0

 
$
1,574.7

 
$
65.4

 
$
1,640.1