FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2020

FAIR VALUE MEASUREMENTS

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


					Fair Value Measurements at March 31, 2020 Using
											Significant
		Total Carrying			Quoted prices in			Significant other			unobservable
		Value at			active market			observable inputs			inputs
(In millions)		March 31, 2020			(Level 1)			(Level 2)			(Level 3)
Other long-term assets:
Money market mutual funds		$	0.6		$	0.6		$	—		$	—
Derivative asset			17.9			—			—			17.9
Investments measured at net asset value (1)			9.8			—			—			—
Marketable equity securities:
Investment in NCM			4.5			4.5			—			—
Total assets at fair value		$	32.8		$	5.1		$	—		$	17.9

(1)

The investments relate to non-qualified deferred compensation arrangements 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 March 31, 2020 Using
								Significant other			Significant
		Total Carrying			Quoted prices in			observable			unobservable
		Value at			active market			inputs			inputs			Total
(In millions)		March 31, 2020			(Level 1)			(Level 2)			(Level 3)			Losses
Property, net:
Property net		$	40.5		$	—		$	—		$	40.5		$	30.9
Operating lease right-of-use assets
Operating lease right-of-use assets			124.0			—			—			124.0			60.4
Intangible assets, net
Definite-lived intangible assets			6.6			—			—			6.6			8.0
Indefinite-lived intangible assets			50.3			—			—			50.3			8.3
Goodwill
Goodwill			2,938.0			—			—			2,938.0			1,744.3
Other long-term assets
Cost method investments			—			—			—			—			7.2
Total		$	3,159.4		$	—		$	—		$	3,159.4			1,859.1

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 March 31, 2020 Using
								Significant other			Significant
		Total Carrying			Quoted prices in			observable			unobservable
		Value at			active market			inputs			inputs
(In millions)		March 31, 2020			(Level 1)			(Level 2)			(Level 3)
Current maturities of corporate borrowings		$	20.0		$	—		$	15.1		$	—
Corporate borrowings			5,020.8			—			2,630.6			239.2