v3.22.4
Fair Value (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value [Abstract]  
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis Financial assets and liabilities measured at fair value on a recurring basis were (in millions):
December 31, 2022Level 1Level 2Level 3Total
Assets:    
Cash and cash equivalents$4,281.8  $4,281.8 
Short-term investments$60.7 60.7 
Marketable equity securities0.9 0.9 
Liabilities:   
Foreign currency derivatives$0.1 $0.1 
Cross currency swaps - net investment hedge16.5 16.5 
Contingent purchase price obligations$115.0 115.0 
December 31, 2021
Assets:
Cash and cash equivalents$5,316.8  $5,316.8 
Marketable equity securities1.1  1.1 
Foreign currency derivatives$0.3 0.3 
Liabilities: 
Foreign currency derivatives0.1 0.1 
Contingent purchase price obligations$167.1 167.1 
Changes in Contingent Purchase Price Obligations Changes in contingent purchase price obligations were (in millions):
December 31,
20222021
January 1$167.1 $71.9 
Acquisitions13.3 120.4 
Revaluation and interest(26.0)0.4 
Payments(32.7)(22.6)
Foreign currency translation(6.7)(3.0)
December 31$115.0 $167.1 
Carrying Amount and Fair Value of Financial Assets and Liabilities The carrying amount and fair value of our financial assets and liabilities were (in millions):
December 31,
 20222021
Carrying
Amount
Fair
Value
Carrying
Amount
Fair
Value
Assets:    
Cash and cash equivalents$4,281.8 $4,281.8 $5,316.8 $5,316.8 
Short-term investments60.7 60.7 — — 
Marketable equity securities0.9 0.9 1.1 1.1 
Non-marketable equity securities5.6 5.6 6.5 6.5 
Foreign currency derivatives— — 0.3 0.3 
Liabilities:    
Short-term debt$16.9 $16.9 $9.6 $9.6 
Foreign currency derivatives0.1 0.1 0.1 0.1 
Cross currency swaps - net investment hedge16.5 16.5 — — 
Contingent purchase price obligations115.0 115.0 167.1 167.1 
Long-term debt5,577.2 4,993.4 5,685.7 6,011.6