FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2019

FAIR VALUE MEASUREMENTS

Schedule of Fair Value Hierarchy of Financial Assets Carried at Fair Value on a Recurring Basis


					Fair Value Measurements at December 31, 2019 Using
											Significant
		Total Carrying			Quoted prices in			Significant other			unobservable
		Value at			active market			observable inputs			inputs
(In millions)		December 31, 2019			(Level 1)			(Level 2)			(Level 3)
Other long-term assets:
Money market mutual funds		$	0.6		$	0.6		$	—		$	—
Derivative asset			38.0			—			—			38.0
Investments measured at net asset value (1)			11.9			—			—			—
Equity securities, available-for-sale:
Investment in NCM			0.7			0.7			—			—
Total assets at fair value		$	51.2		$	1.3		$	—		$	38.0

Corporate Borrowings:
Derivative liability		$	0.5		$	—		$	—		$	0.5
Total liabilities at fair value		$	0.5		$	—		$	—		$	0.5


					Fair Value Measurements at December 31, 2018 Using
											Significant
		Total Carrying			Quoted prices in			Significant other			unobservable
		Value at			active market			observable inputs			inputs
(In millions)		December 31, 2018			(Level 1)			(Level 2)			(Level 3)
Other long-term assets:
Money market mutual funds		$	0.5		$	0.5		$	—		$	—
Derivative asset			55.7			—			—			55.7
Investments measured at net asset value(1)			9.6			—			—			—
Total assets at fair value		$	65.8		$	0.5		$	—		$	55.7

Corporate Borrowings:
Derivative liability		$	24.0		$	—		$	—		$	24.0
Total liabilities at fair value		$	24.0		$	—		$	—		$	24.0

(1)

The investments relate to a non-qualified deferred compensation arrangement on behalf of certain members of management. The Company has an equivalent liability for this related-party transaction recorded in other long-term liabilities for the deferred compensation obligation.

Summary of fair value hierarchy of the Company's assets that were measured at fair value on a nonrecurring basis


					Fair Value Measurements at December 31, 2019 Using
								Significant other			Significant
		Total Carrying			Quoted prices in			observable			unobservable
		Value at			active market			inputs			inputs			Total
(In millions)		December 31, 2019			(Level 1)			(Level 2)			(Level 3)			Losses
Property, net:
Property net		$	29.2		$	—		$	—		$	29.2		$	23.1
Operating lease right-of-use assets
Operating lease right-of-use assets			123.3			—			—			123.3			60.0
Other long-term assets
Property owned, net			3.0			—			—			3.0			1.2
Equity interest investment			2.2			—			—			2.2			3.6
Total		$	157.7		$	—		$	—		$	157.7			87.9

Fair Value Measurements at December 31, 2018 Using

Significant other

Significant

Total Carrying

Quoted prices in

observable

unobservable

Value at

active market

inputs

inputs

Total

(In millions)

December 31, 2018

(Level 1)

(Level 2)

(Level 3)

Losses

Property, net:

Property owned, net

$

17.3

$

—

$

—

$

17.3

$

13.8

Schedule of Fair Value of Financial Instruments Not Recognized at Fair Value for Which It Is Practicable to Estimate Fair Value


					Fair Value Measurements at December 31, 2019 Using
								Significant other			Significant
		Total Carrying			Quoted prices in			observable			unobservable
		Value at			active market			inputs			inputs
(In millions)		December 31, 2019			(Level 1)			(Level 2)			(Level 3)
Current maturities of corporate borrowings		$	20.0		$	—		$	20.4		$	—
Corporate borrowings			4,733.4			—			4,135.3			514.9


					Fair Value Measurements at December 31, 2018 Using
								Significant other			Significant
		Total Carrying			Quoted prices in			observable			unobservable
		Value at			active market			inputs			inputs
(In millions)		December 31, 2018			(Level 1)			(Level 2)			(Level 3)
Current maturities of corporate borrowings		$	15.2		$	—		$	13.4		$	1.4
Corporate borrowings			4,707.8			—			3,909.2			475.2