Financial instruments and fair value measurements (Tables)

6 Months Ended

Jun. 30, 2017

The following table presents the carrying amounts and fair values of debt instruments:



	June 30, 2017				December 31, 2016
(in millions)	Carrying amount		Fair value		Carrying amount		Fair value
Accounts receivable securitization facility	$	128.9	$	128.9	$	163.9	$	163.9
Senior credit facility:
Multi-currency revolving loan facility	192.1		192.1		31.6		31.6
Term A loan	837.6		843.3		859.7		856.4
Term B loan	456.3		463.8		423.8		431.9
4.625% senior notes	568.3		600.3		524.9		553.9
Capital lease obligations	45.6		45.6		13.1		13.1

The following table presents changes in contingent consideration liabilities:



(in millions)	Six months ended June 30, 2017
Beginning balance	$	34.7
Acquisitions	21.2
Income from changes to estimated fair value	(0.8		)
Cash payments	(19.1		)
Currency translation	0.6
Ending balance	$	36.6

The following table presents the balance sheet classification and fair values of these instruments, all of which are Level 2 measurements:



(in millions)	Balance sheet classification	June 30, 2017		December 31, 2016
Cash flow hedging:
Interest rate swaps	Other assets	$	10.5	$	11.2
Net investment hedging:
Portion of term B loan	Debt, net of current portion	408.2		379.2
4.625% senior notes	Debt, net of current portion	600.3		553.9

The following table presents the net unrealized gain (loss) deferred to AOCI for these instruments:



	Three months ended June 30,						Six months ended June 30,
(in millions)	2017			2016			2017			2016
Cash flow hedging:
Interest rate swaps	$	(1.9	)	$	(5.4	)	$	(1.0	)	$	(5.4	)
Net investment hedging:
Portion of net investment in foreign operations	61.0			(24.7		)	72.9			21.1
Portion of term B loan	(25.2		)	10.5			(30.2		)	(8.9		)
4.625% senior notes	(35.8		)	14.2			(42.7		)	(12.2		)

The following table presents the net loss reclassified from AOCI into earnings for these instruments:



(in millions)	Income statement classification	Three months ended June 30,					Six months ended June 30,
(in millions)	Income statement classification	2017		2016			2017			2016
Interest rate swaps	Interest expense	$	—	$	(0.4	)	$	(0.3	)	$	(0.4	)

VWR Corp 10-Q