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53
Fair Value Measurements Using
Description
Carrying
Amount
Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Fair
Value
Long-term debt, including current portion
December 31, 2013 . . . . . . . . . . . . . . . . . . . . $ (5,212.9) $ $ (5,490.9) $ $ (5,490.9)
December 31, 2012 . . . . . . . . . . . . . . . . . . . . (5,531.3) (5,996.6) (5,996.6)
Fair Value Measurements Using
Description
Carrying
Amount
Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Fair
Value
December 31, 2013
Risk-management instruments
Interest rate contracts designated as
hedging instruments:
Other receivables . . . . . . . . . . . . . . . . . . $ 20.1 $ $ 20.1 $ $ 20.1
Sundry . . . . . . . . . . . . . . . . . . . . . . . . . . 278.7 278.7 278.7
Other noncurrent liabilities . . . . . . . . . . . (0.9) (0.9) (0.9)
Foreign exchange contracts not designated
as hedging instruments:
Other receivables . . . . . . . . . . . . . . . . . . 6.7 6.7 6.7
Other current liabilities . . . . . . . . . . . . . . (7.1) (7.1) (7.1)
Equity contracts designated as hedging
instruments:
Other current liabilities . . . . . . . . . . . . . . (149.6) (149.6) (149.6)
December 31, 2012
Risk-management instruments
Interest rate contracts designated as
hedging instruments:
Sundry . . . . . . . . . . . . . . . . . . . . . . . . . . 589.4 589.4 589.4
Foreign exchange contracts not designated
as hedging instruments:
Other receivables . . . . . . . . . . . . . . . . . . 11.0 11.0 11.0
Other current liabilities . . . . . . . . . . . . . . (17.5) (17.5) (17.5)
Risk-management instruments above are disclosed on a gross basis. There are various rights of setoff
associated with certain of the risk-management instruments above that are subject to an enforceable master
netting arrangement or similar agreements. Although various rights of setoff and master netting arrangements
or similar agreements may exist with the individual counterparties to the risk-management instruments above,
individually, these financial rights are not material.
We determine fair values based on a market approach using quoted market values, significant other
observable inputs for identical or comparable assets or liabilities, or discounted cash flow analyses. The fair
value of equity method investments and other investments is not readily available.