Edwards Lifesciences (EW) 10-Q 25 Oct 19 2019 Q3 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	9 Months Ended
	Sep. 30, 2019	Oct. 23, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-15525
Entity Registrant Name	EDWARDS LIFESCIENCES CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4316614
Entity Address, Address Line One	One Edwards Way
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Zip Code	92614
City Area Code	949
Local Phone Number	250-2500
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	EW
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		208,570,014
Entity Central Index Key	0001099800
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 1,186.6	$ 714.1
Short-term investments (Note 5)	170.3	242.4
Accounts and other receivables, net of allowances of $8.8 and $8.9, respectively	570	537.3
Inventories (Note 2)	611.1	607
Prepaid expenses	57.3	54.3
Other current assets	144.4	131.8
Total current assets	2,739.7	2,286.9
Long-term investments (Note 5)	386	506.3
Property, plant, and equipment, net	973.6	867.5
Operating lease right-of-use assets (Note 3)	73.3
Goodwill	1,156.6	1,112.2
Other intangible assets, net	381.1	343.2
Deferred income taxes	155.8	174
Other assets	100.2	33.6
Total assets	5,966.3	5,323.7
Current liabilities
Accounts payable and accrued liabilities (Note 2)	751.7	876.6
Operating lease liabilities (Note 3)	24.1
Total current liabilities	775.8	876.6
Long-term debt	594.2	593.8
Contingent consideration liabilities (Note 7)	191	178.6
Taxes payable	236.5	259.4
Operating lease liabilities (Note 3)	52.4
Uncertain tax positions	141.7	124.9
Other long-term liabilities	159.9	150
Commitments and contingencies (Note 11)
Stockholders' equity
Preferred stock, $.01 par value, authorized 50.0 shares, no shares outstanding	0	0
Common stock, $1.00 par value, 350.0 shares authorized, 217.5 and 215.2 shares issued, and 208.5 and 207.7 shares outstanding, respectively	217.5	215.2
Additional paid-in capital	1,570.4	1,384.4
Retained earnings	3,461.4	2,694.7
Accumulated other comprehensive loss (Note 12)	(155.8)	(138.5)
Treasury stock, at cost, 9.0 and 7.5 shares, respectively	(1,278.7)	(1,015.4)
Total stockholders' equity	3,814.8	3,140.4
Total liabilities and stockholders' equity	$ 5,966.3	$ 5,323.7

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 8.8	$ 8.9
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	350,000,000	350,000,000
Common stock, shares issued (in shares)	217,500,000	215,200,000
Common stock, shares outstanding (in shares)	208,500,000	207,700,000
Treasury stock (in shares)	9,000,000	7,500,000

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 1,094	$ 906.6	$ 3,173.9	$ 2,745.1
Cost of sales	292.4	224.9	828.2	704.7
Gross profit	801.6	681.7	2,345.7	2,040.4
Selling, general, and administrative expenses	306.2	269.5	895	800.4
Research and development expenses	195.5	161.8	558.8	459.1
Intellectual property litigation expenses	7.9	7.9	19.5	19.1
Change in fair value of contingent consideration liabilities, net (Note 7)	(2.3)	(6.4)	12.4	8.3
Special charge (Note 4)	0		24
Operating income	294.3	248.9	836	753.5
Interest (income) expense, net	(2.8)	0.5	(7.2)	(0.3)
Special gain (Note 4)	0	0	0	(7.1)
Other income, net	(4.6)	(0.3)	(7.8)	(2.3)
Consolidated pre-tax income	301.7	248.7	851	763.2
Provision for income taxes	27	22.8	84.3	48
Net income	$ 274.7	$ 225.9	$ 766.7	$ 715.2
Earnings per share:
Basic (in dollars per share)	$ 1.32	$ 1.08	$ 3.68	$ 3.41
Diluted (in dollars per share)	$ 1.30	$ 1.06	$ 3.61	$ 3.34
Weighted-average number of common shares outstanding:
Basic (in shares)	208.2	209	208.1	209.5
Diluted (in shares)	212.1	213.2	212.1	214.1

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 274.7	$ 225.9	$ 766.7	$ 715.2
Other comprehensive (loss) income, net of tax (Note 12):
Foreign currency translation adjustments	(23.5)	(2)	(27.1)	(34.9)
Unrealized gain on hedges	5.6	13.1	3.8	36.9
Defined benefit pension plans	(0.2)	(0.2)	(0.3)	0.3
Unrealized gain (loss) on available-for-sale investments	0.5	0.3	6	(3.7)
Reclassification of net realized investment loss to earnings	0	0.6	0.3	2.9
Other comprehensive (loss) income	(17.6)	11.8	(17.3)	1.5
Comprehensive income	$ 257.1	$ 237.7	$ 749.4	$ 716.7

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net income	$ 766.7	$ 715.2
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	65.4	57.5
Non-cash operating lease cost	18.7
Stock-based compensation (Note 9)	62.9	55
Inventory write off	73.1	0
Change in fair value of contingent consideration liabilities, net (Note 7)	12.4	8.3
Deferred income taxes	9.5	29.8
Purchase of intellectual property (Note 4)	24	0
Other	(4.8)	3
Changes in operating assets and liabilities:
Accounts and other receivables, net	(70.3)	(0.3)
Inventories	(83.9)	(43.5)
Accounts payable and accrued liabilities	(109.2)	4
Income taxes	17	(208.6)
Prepaid expenses and other current assets	(2.5)	10.9
Other	1	2.5
Net cash provided by operating activities	780	633.8
Cash flows from investing activities
Capital expenditures	(182.9)	(181.1)
Purchases of held-to-maturity investments (Note 5)	(30)	(190)
Proceeds from held-to-maturity investments (Note 5)	50	388.1
Purchases of available-for sale investments (Note 5)	(95)	(115.3)
Proceeds from available-for-sale investments (Note 5)	278.3	193.1
Investments in intangible assets (Note 4)	(24)	(3)
Payment of contingent consideration	0	(10)
Acquisition (Note 6)	(100.2)	0
Payment for acquisition option	(35)	0
Other	(11.7)	(10.8)
Net cash (used in) provided by investing activities	(150.5)	71
Cash flows from financing activities
Proceeds from issuance of debt, net	12	686.4
Payments on debt and capital lease obligations	(23.7)	(524.1)
Purchases of treasury stock	(263.3)	(523.5)
Proceeds from stock plans	125.5	119.3
Payment of contingent consideration	0	(15.1)
Other	(3.1)	0.5
Net cash used in financing activities	(152.6)	(256.5)
Effect of currency exchange rate changes on cash and cash equivalents	(4.4)	(5.3)
Net increase in cash and cash equivalents	472.5	443
Cash and cash equivalents at beginning of period	714.1	818.3
Cash and cash equivalents at end of period	$ 1,186.6	$ 1,261.3

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Total Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2017		212	2.3
Beginning balance at Dec. 31, 2017	$ 2,956.2	$ 212	$ (252.1)	$ 1,166.9	$ 1,962.1	$ (132.7)
Increase (Decrease) in Stockholders' Equity
Net income	206.6				206.6
Other comprehensive income, net of tax	19.2					19.2
Common stock issued under equity plans (in shares)		1
Common stock issued under equity plans	44.8	$ 1		43.8
Stock-based compensation expense	18.4			18.4
Purchases of treasury stock	(2.1)		$ (2.1)
Ending balance (in shares) at Mar. 31, 2018		213	2.3
Ending balance at Mar. 31, 2018	3,245.7	$ 213	$ (254.2)	1,229.1	2,179.1	(121.3)
Beginning balance (in shares) at Dec. 31, 2017		212	2.3
Beginning balance at Dec. 31, 2017	2,956.2	$ 212	$ (252.1)	1,166.9	1,962.1	(132.7)
Increase (Decrease) in Stockholders' Equity
Net income	715.2
Other comprehensive income, net of tax	1.5
Ending balance (in shares) at Sep. 30, 2018		214.8	5.7
Ending balance at Sep. 30, 2018	3,361.3	$ 214.8	$ (743.4)	1,341.2	2,687.7	(139)
Beginning balance (in shares) at Mar. 31, 2018		213	2.3
Beginning balance at Mar. 31, 2018	3,245.7	$ 213	$ (254.2)	1,229.1	2,179.1	(121.3)
Increase (Decrease) in Stockholders' Equity
Net income	282.7				282.7
Other comprehensive income, net of tax	(29.5)					(29.5)
Common stock issued under equity plans (in shares)		1
Common stock issued under equity plans	39.5	$ 1		38.5
Stock-based compensation expense	19.2			19.2
Shares issued in payment for contingent consideration liabilities (in shares)			(0.3)
Shares issued in payment for contingent consideration liabilities	34.9		$ 32.2	2.7
Purchases of treasury stock (in shares)			2.8
Purchases of treasury stock	(428.3)		$ (348.3)	(80)
Ending balance (in shares) at Jun. 30, 2018		214	4.8
Ending balance at Jun. 30, 2018	3,164.2	$ 214	$ (570.3)	1,209.5	2,461.8	(150.8)
Increase (Decrease) in Stockholders' Equity
Net income	225.9				225.9
Other comprehensive income, net of tax	11.8					11.8
Common stock issued under equity plans (in shares)		0.8
Common stock issued under equity plans	35.1	$ 0.8		34.3
Stock-based compensation expense	17.4			17.4
Purchases of treasury stock (in shares)			0.9
Purchases of treasury stock	(93.1)		$ (173.1)	80
Ending balance (in shares) at Sep. 30, 2018		214.8	5.7
Ending balance at Sep. 30, 2018	3,361.3	$ 214.8	$ (743.4)	1,341.2	2,687.7	(139)
Beginning balance (in shares) at Dec. 31, 2018		215.2	7.5
Beginning balance at Dec. 31, 2018	3,140.4	$ 215.2	$ (1,015.4)	1,384.4	2,694.7	(138.5)
Increase (Decrease) in Stockholders' Equity
Net income	249.7				249.7
Other comprehensive income, net of tax	(2.7)					(2.7)
Common stock issued under equity plans (in shares)		0.8
Common stock issued under equity plans	45	$ 0.8		44.2
Stock-based compensation expense	20.8			20.8
Purchases of treasury stock (in shares)			0.1
Purchases of treasury stock	(5.7)		$ (5.7)
Ending balance (in shares) at Mar. 31, 2019		216	7.6
Ending balance at Mar. 31, 2019	3,447.5	$ 216	$ (1,021.1)	1,449.4	2,944.4	(141.2)
Beginning balance (in shares) at Dec. 31, 2018		215.2	7.5
Beginning balance at Dec. 31, 2018	3,140.4	$ 215.2	$ (1,015.4)	1,384.4	2,694.7	(138.5)
Increase (Decrease) in Stockholders' Equity
Net income	766.7
Other comprehensive income, net of tax	(17.3)
Ending balance (in shares) at Sep. 30, 2019		217.5	9
Ending balance at Sep. 30, 2019	3,814.8	$ 217.5	$ (1,278.7)	1,570.4	3,461.4	(155.8)
Beginning balance (in shares) at Mar. 31, 2019		216	7.6
Beginning balance at Mar. 31, 2019	3,447.5	$ 216	$ (1,021.1)	1,449.4	2,944.4	(141.2)
Increase (Decrease) in Stockholders' Equity
Net income	242.3				242.3
Other comprehensive income, net of tax	3					3
Common stock issued under equity plans (in shares)		0.9
Common stock issued under equity plans	41.5	$ 0.9		40.6
Stock-based compensation expense	22.3			22.3
Purchases of treasury stock (in shares)			1.4
Purchases of treasury stock	(256.3)		$ (256.3)
Ending balance (in shares) at Jun. 30, 2019		216.9	9
Ending balance at Jun. 30, 2019	3,500.3	$ 216.9	$ (1,277.4)	1,512.3	3,186.7	(138.2)
Increase (Decrease) in Stockholders' Equity
Net income	274.7				274.7
Other comprehensive income, net of tax	(17.6)					(17.6)
Common stock issued under equity plans (in shares)		0.6
Common stock issued under equity plans	38.9	$ 0.6		38.3
Stock-based compensation expense	19.8			19.8
Purchases of treasury stock (in shares)			0
Purchases of treasury stock	(1.3)		$ (1.3)
Ending balance (in shares) at Sep. 30, 2019		217.5	9
Ending balance at Sep. 30, 2019	$ 3,814.8	$ 217.5	$ (1,278.7)	$ 1,570.4	$ 3,461.4	$ (155.8)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying interim consolidated condensed financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") and should be read in conjunction with the consolidated financial statements and notes included in Edwards Lifesciences Corporation's Annual Report on Form 10-K for the year ended December 31, 2018 . Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") have been condensed or omitted. In the opinion of management, the interim consolidated condensed financial statements reflect all adjustments considered necessary for a fair statement of the interim periods. All such adjustments are of a normal, recurring nature. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued an amendment to the guidance on leases. The amendment improves transparency and comparability among companies by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. The guidance was effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach was required upon adoption. Reporting entities could elect to adjust comparative periods and record the cumulative effect adjustment at the beginning of the earliest comparative period, or to not adjust comparative periods and record the cumulative effect adjustment at the effective date. The Company adopted the new guidance as of the effective date of January 1, 2019 with no adjustments to the comparative period presented in the financial statements. In addition, the Company elected the package of practical expedients permitted under the transition guidance to not reassess (1) whether any expired or existing contracts are, or contain, leases, (2) the lease classification for expired or existing leases, and (3) initial direct costs for existing leases. The Company implemented internal controls and system solutions to enable the preparation and disclosure of financial information about its leasing arrangements upon adoption. The adoption of the guidance resulted in the recognition of right-of-use ("ROU") assets and additional lease liabilities for operating leases of $58.7 million as of January 1, 2019. The guidance did not have an impact on the Company's consolidated condensed statements of operations. See Note 3 for disclosures related to the Company's leases.

OTHER CONSOLIDATED FINANCIAL ST

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS	OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS Composition of Certain Financial Statement Captions Components of selected captions in the consolidated condensed balance sheets consisted of the following (in millions): September 30, 2019 December 31, 2018 Inventories Raw materials $ 125.8 $ 111.5 Work in process 148.6 144.8 Finished products 336.7 350.7 $ 611.1 $ 607.0 At September 30, 2019 and December 31, 2018 , $122.5 million and $106.5 million , respectively, of the Company's finished products inventories were held on consignment. During the three months ended June 30, 2019 , the Company recorded a $46.2 million charge to " Cost of Sales ," primarily comprised of the write off of inventory related to strategic decisions regarding its transcatheter aortic valve portfolio, including the decision to discontinue its CENTERA program. During the three months ended September 30, 2019 , the Company recorded an additional $26.9 million charge to " Cost of Sales " resulting from refinements to its portfolio strategy, which consists mainly of an additional write off of inventory. This amount includes an out-of-period adjustment of $10.3 million . The Company determined that the out-of-period adjustment is not material to the three or nine months ended September 30, 2019 or to any prior periods. September 30, 2019 December 31, 2018 Accounts payable and accrued liabilities Accounts payable $ 135.9 $ 134.0 Employee compensation and withholdings 262.2 226.1 Taxes payable (Note 14) 18.9 31.3 Property, payroll, and other taxes 43.2 39.5 Research and development accruals 61.2 48.9 Accrued rebates 78.0 80.0 Fair value of derivatives 4.5 4.4 Accrued marketing expenses 14.7 22.3 Litigation and insurance reserves 18.9 196.7 Accrued relocation costs 16.7 11.3 Accrued professional services 12.2 11.0 Accrued realignment reserves 16.4 6.8 Other accrued liabilities 68.9 64.3 $ 751.7 $ 876.6 Supplemental Cash Flow Information (in millions) Nine Months Ended 2019 2018 Cash paid during the year for: Income taxes $ 53.9 $ 227.3 Amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 19.5 $ — Non-cash investing and financing transactions: Fair value of shares issued in payment for contingent consideration liabilities $ — $ 34.3 Right-of-use assets obtained in exchange for new lease liabilities $ 33.2 $ — Capital expenditures accruals $ 26.4 $ 23.7

LEASES

LEASES	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
LEASES	LEASES The Company determines whether a contract is, or contains, a lease at inception. ROU assets represent the Company’s right to use an underlying asset during the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at lease commencement based upon the estimated present value of unpaid lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at lease commencement in determining the present value of unpaid lease payments. ROU assets also include any lease payments made at or before lease commencement and any initial direct costs incurred, and exclude any lease incentives received. The Company determines the lease term as the noncancellable period of the lease, and may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Leases with a term of 12 months or less are not recognized on the balance sheet. Certain of the Company’s leases include variable lease payments that are based on costs incurred or actual usage, or adjusted periodically based on an index or a rate. The Company’s leases do not contain any residual value guarantees. The Company accounts for the lease and non-lease components as a single lease component for all of its leases except vehicle leases, for which the lease and non-lease components are accounted for separately. Operating leases are included in “ Operating Lease Right-of-Use Assets ” and “ Operating Lease Liabilities ” on the Company’s consolidated condensed balance sheets. The Company leases certain office space, manufacturing facilities, land, apartments, warehouses, vehicles, and equipment with remaining lease terms ranging from less than 1 year to 22 years , some of which include options to extend or terminate the leases. Operating lease costs for the three and nine months ended September 30, 2019 were $7.2 million and $20.7 million , respectively. Short-term and variable lease costs were not material for the three and nine months ended September 30, 2019 . Supplemental balance sheet information related to operating leases was as follows (in millions, except lease term and discount rate): September 30, Operating lease ROU assets $ 73.3 Operating lease liabilities, current portion $ 24.1 Operating lease liabilities, long-term portion 52.4 Total operating lease liabilities $ 76.5 Maturities of operating lease liabilities at September 30, 2019 were as follows (in millions): 2019 $ 6.8 2020 25.2 2021 17.6 2022 12.3 2023 8.9 Thereafter 11.7 Total lease payments 82.5 Less: imputed interest (6.0 ) Total lease liabilities $ 76.5 Weighted-average remaining lease term (in years) 4.5 Weighted-average discount rate 2.9 % As of September 30, 2019 , the Company had additional operating lease commitments of $16.8 million for office space leases that have not yet commenced. These leases will commence during 2019 with lease terms of 6 months to 12 years. Disclosures related to periods prior to adopting the new lease guidance Certain facilities and equipment are leased under operating leases expiring at various dates. Most of the operating leases contain renewal options. Total expense for all operating leases was $27.0 million , $27.3 million , and $22.9 million for the years 2018 , 2017 , and 2016 , respectively. Future minimum lease payments (including interest) under non-cancelable operating leases at December 31, 2018 were as follows (in millions): Operating 2019 $ 25.6 2020 21.5 2021 13.5 2022 9.9 2023 6.4 Thereafter 14.3 Total obligations and commitments $ 91.2

SPECIAL CHARGE (GAIN)

SPECIAL CHARGE (GAIN)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
SPECIAL CHARGE (GAIN)	SPECIAL CHARGE (GAIN) In March 2019, the Company recorded a $24.0 million charge related to the acquisition of early-stage transcatheter intellectual property and associated clinical and regulatory experience. In March 2018, the Company recorded a $7.1 million

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS Debt Securities Investments in debt securities at the end of each period were as follows (in millions): September 30, 2019 December 31, 2018 Held-to-maturity Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Bank time deposits $ — $ — $ — $ — $ 20.0 $ — $ — $ 20.0 Available-for-sale Commercial paper $ 10.9 $ — $ — $ 10.9 $ 56.7 $ — $ — $ 56.7 U.S. government and agency securities 75.4 0.6 — 76.0 79.7 0.2 (0.7 ) 79.2 Foreign government bonds 1.6 — — 1.6 1.7 — — 1.7 Asset-backed securities 80.7 0.6 — 81.3 110.6 0.1 (0.5 ) 110.2 Corporate debt securities 354.9 2.0 (0.1 ) 356.8 459.8 0.1 (4.3 ) 455.6 Municipal securities 2.7 — — 2.7 2.8 — — 2.8 Total $ 526.2 $ 3.2 $ (0.1 ) $ 529.3 $ 711.3 $ 0.4 $ (5.5 ) $ 706.2 The cost and fair value of investments in debt securities, by contractual maturity, as of September 30, 2019 were as follows: Available-for-Sale Cost Fair Value (in millions) Due in 1 year or less $ 169.9 $ 170.3 Due after 1 year through 5 years 292.4 294.5 Instruments not due at a single maturity date 63.9 64.5 $ 526.2 $ 529.3 Actual maturities may differ from the contractual maturities due to call or prepayment rights. The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of September 30, 2019 and December 31, 2018 , aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions): September 30, 2019 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate debt securities $ — $ — $ 41.4 $ (0.1 ) $ 41.4 $ (0.1 ) December 31, 2018 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. government and agency securities $ 0.7 $ (0.1 ) $ 56.5 $ (0.6 ) $ 57.2 $ (0.7 ) Asset-backed securities 4.0 — 61.3 (0.5 ) 65.3 (0.5 ) Corporate debt securities 177.4 (1.1 ) 203.7 (3.2 ) 381.1 (4.3 ) $ 182.1 $ (1.2 ) $ 321.5 $ (4.3 ) $ 503.6 $ (5.5 ) Investments in Unconsolidated Affiliates The Company has a number of equity investments in privately and publicly held companies. Investments in these unconsolidated affiliates are recorded in " Long-term Investments " on the consolidated condensed balance sheets, and are as follows: September 30, December 31, (in millions) Equity method investments Cost $ 10.7 $ 9.1 Equity in losses (3.8 ) (4.7 ) Carrying value of equity method investments 6.9 4.4 Equity securities Carrying value of non-marketable equity securities 20.1 18.1 Total investments in unconsolidated affiliates $ 27.0 $ 22.5 Non-marketable equity securities consist of investments in privately held companies without readily determinable fair values, and are reported at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. The Company recorded an upward adjustment of $0.3 million during the three and nine months ended September 30, 2019 based on observable price changes. As of September 30, 2019 , the Company had recorded accumulated upward adjustments of $2.0 million based on observable price changes, and accumulated downward adjustments of $1.9 million due to impairment and observable price changes. During the three and nine months ended September 30, 2019

ACQUISITION

ACQUISITION	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
ACQUISITION	ACQUISITION On February 11, 2019, the Company entered into an agreement and plan of merger to acquire all the outstanding shares of CAS Medical Systems, Inc. ("CASMED") for an aggregate cash purchase price of $2.45 per share of common stock, or an equity value of approximately $100 million . The transaction closed on April 18, 2019, and the cash purchase price was $100.8 million . Acquisition-related costs of $2.0 million were recorded in “ Selling, General, and Administrative Expenses ” during the nine months ended September 30, 2019 . CASMED is a medical technology company dedicated to non-invasive monitoring of tissue oxygenation in the brain. The Company plans to integrate the acquired technology platform into its hemodynamic monitoring platform. The acquisition was accounted for as a business combination. Tangible and intangible assets acquired were recorded based on their estimated fair values at the acquisition date. The excess of the purchase price over the fair value of net assets acquired was recorded to goodwill. The following table summarizes the fair values of the assets acquired and liabilities assumed (in millions): Current assets $ 6.1 Property and equipment, net 1.3 Goodwill 64.4 Developed technology 35.9 Customer relationships 8.8 Deferred tax assets 2.2 Liabilities assumed (17.9 ) Total purchase price 100.8 Less: cash acquired (0.6 ) Total purchase price, net of cash acquired $ 100.2 Goodwill includes expected synergies and other benefits the Company believes will result from the acquisition. Goodwill was assigned to the Company’s United States segment and is not deductible for tax purposes. Developed technology assets are being amortized over a weighted-average useful life of 14 years. Customer relationship assets are being amortized over a weighted-average useful life of 10 years. The results of operations for CASMED have been included in the accompanying consolidated financial statements from the date of acquisition. Pro forma results have not been presented as the results of CASMED are not material in relation to the consolidated financial statements of the Company.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The consolidated condensed financial statements include financial instruments for which the fair market value of such instruments may differ from amounts reflected on a historical cost basis. Financial instruments of the Company consist of cash deposits, accounts and other receivables, investments, accounts payable, certain accrued liabilities, and borrowings under a revolving credit agreement. These financial instruments are held at cost, which generally approximates fair value due to their short-term nature. Financial instruments also include notes payable. As of September 30, 2019 , the fair value of the notes payable, based on Level 2 inputs, was $676.9 million . Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Company prioritizes the inputs used to determine fair values in one of the following three categories: Level 1—Quoted market prices in active markets for identical assets or liabilities. Level 2—Inputs, other than quoted prices in active markets, that are observable, either directly or indirectly. Level 3—Unobservable inputs that are not corroborated by market data. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes the Company's financial instruments which are measured at fair value on a recurring basis (in millions): September 30, 2019 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 248.1 $ 66.5 $ — $ 314.6 Available-for-sale investments: Corporate debt securities — 356.8 — 356.8 Asset-backed securities — 81.3 — 81.3 U.S. government and agency securities 45.5 30.5 — 76.0 Foreign government bonds — 1.6 — 1.6 Commercial paper — 10.9 — 10.9 Municipal securities — 2.7 — 2.7 Investments held for deferred compensation plans 81.4 — — 81.4 Derivatives — 48.5 — 48.5 $ 375.0 $ 598.8 $ — $ 973.8 Liabilities Derivatives $ — $ 4.4 $ — $ 4.4 Deferred compensation plans 82.0 — — 82.0 Contingent consideration liabilities — — 191.0 191.0 $ 82.0 $ 4.4 $ 191.0 $ 277.4 December 31, 2018 Assets Cash equivalents $ — $ 11.8 $ — $ 11.8 Available-for-sale investments: Corporate debt securities — 455.6 — 455.6 Asset-backed securities — 110.2 — 110.2 U.S. government and agency securities 19.6 59.6 — 79.2 Foreign government bonds — 1.7 — 1.7 Commercial paper — 56.7 — 56.7 Municipal securities — 2.8 — 2.8 Investments held for deferred compensation plans 67.6 — — 67.6 Derivatives — 29.9 — 29.9 $ 87.2 $ 728.3 $ — $ 815.5 Liabilities Derivatives $ — $ 5.2 $ — $ 5.2 Deferred compensation plans 68.5 — — 68.5 Contingent consideration liabilities — — 178.6 178.6 $ 68.5 $ 5.2 $ 178.6 $ 252.3 The following table summarizes the changes in fair value of the contingent consideration liabilities for the nine months ended September 30, 2019 (in millions): Balance at December 31, 2018 $ 178.6 Changes in fair value 12.4 Balance at September 30, 2019 $ 191.0 Cash Equivalents and Available-for-sale Investments The Company estimates the fair values of its money market funds based on quoted prices in active markets for identical assets. The Company estimates the fair values of its time deposits, commercial paper, U.S. and foreign government and agency securities, municipal securities, asset-backed securities, and corporate debt securities by taking into consideration valuations obtained from third-party pricing services. The pricing services use industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades and broker-dealer quotes on the same or similar securities, benchmark yields, credit spreads, prepayment and default projections based on historical data, and other observable inputs. The Company independently reviews and validates the pricing received from the third-party pricing service by comparing the prices to prices reported by a secondary pricing source. The Company’s validation procedures have not resulted in an adjustment to the pricing received from the pricing service. Deferred Compensation Plans The Company holds investments in trading securities related to its deferred compensation plans. The investments are in a variety of stock and bond mutual funds. The fair values of these investments and the corresponding liabilities are based on quoted market prices. Derivative Instruments The Company uses derivative financial instruments in the form of foreign currency forward exchange contracts and cross currency swap contracts to manage foreign currency exposures. All derivatives contracts are recognized on the balance sheet at their fair value. The fair value of the derivative financial instruments was estimated based on quoted market foreign exchange rates and market discount rates. Judgment was employed in interpreting market data to develop estimates of fair value; accordingly, the estimates presented herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange. The use of different market assumptions or valuation methodologies could have a material effect on the estimated fair value amounts. Contingent Consideration Liabilities Certain of the Company's acquisitions involve contingent consideration arrangements. Payment of additional consideration is contingent upon the acquired company reaching certain performance milestones, such as attaining specified revenue levels or obtaining regulatory approvals. These contingent consideration liabilities are measured at estimated fair value using either a probability weighted discounted cash flow analysis or a Monte Carlo simulation model, both of which consider significant unobservable inputs. These inputs include (1) the discount rate used to present value the projected cash flows (ranging from 1.9% to 3.0% ), (2) the probability of milestone achievement (ranging from 43.4% to 98.4% ), (3) the projected payment dates (ranging from 2022 to 2026, and (4) the volatility of future revenue ( 45.0% ). The use of different assumptions could have a material effect on the estimated fair value amounts.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company uses derivative financial instruments to manage interest rate and foreign currency risks, as summarized below. It is the Company's policy not to enter into derivative financial instruments for speculative purposes. Notional amounts are stated in United States dollar equivalents at spot exchange rates at the respective dates. Notional Amount September 30, 2019 December 31, 2018 (in millions) Foreign currency forward exchange contracts $ 1,247.7 $ 1,378.2 Cross currency swap contracts 300.0 300.0 Derivative financial instruments involve credit risk in the event the counterparty should default. It is the Company's policy to execute such instruments with global financial institutions that the Company believes to be creditworthy. The Company diversifies its derivative financial instruments among counterparties to minimize exposure to any one of these entities. The Company also uses International Swap Dealers Association master-netting agreements. The master-netting agreements provide for the net settlement of all contracts through a single payment in a single currency in the event of default, as defined by the agreements. The Company uses foreign currency forward exchange contracts, cross currency swap contracts, and foreign currency denominated debt to manage its exposure to changes in currency exchange rates from (a) future cash flows associated with intercompany transactions and certain local currency expenses expected to occur within the next 13 months (designated as cash flow hedges), (b) its net investment in certain foreign subsidiaries (designated as net investment hedges) and (c) foreign currency denominated assets or liabilities (designated as fair value hedges). The Company also uses foreign currency forward exchange contracts that are not designated as hedging instruments to offset the transaction gains and losses associated with certain assets and liabilities denominated in currencies other than their functional currencies (resulting principally from intercompany and local currency transactions). All derivative financial instruments are recognized at fair value in the consolidated condensed balance sheets. For each derivative instrument that is designated as a fair value hedge, the gain or loss on the derivative included in the assessment of hedge effectiveness is recognized immediately to earnings, and offsets the loss or gain on the underlying hedged item. The Company reports in " Accumulated Other Comprehensive Loss " the gain or loss on derivative financial instruments that are designated, and that qualify, as cash flow hedges. The Company reclassifies these gains and losses into earnings in the same line item and in the same period in which the underlying hedged transactions affect earnings. Changes in the fair value of net investment hedges are reported in " Accumulated Other Comprehensive Loss " as a part of the cumulative translation adjustment and would be reclassified into earnings if the underlying net investment is sold or substantially liquidated. The portion of the change in fair value related to components excluded from the hedge effectiveness assessment are amortized into earnings over the life of the derivative. The gains and losses on derivative financial instruments for which the Company does not elect hedge accounting treatment are recognized in the consolidated statements of operations in each period based upon the change in the fair value of the derivative financial instrument. Cash flows from net investment hedges are reported as investing activities in the consolidated statements of cash flows, and cash flows from all other derivative financial instruments are reported as operating activities. The following table presents the location and fair value amounts of derivative instruments reported in the consolidated condensed balance sheets (in millions): Fair Value Derivatives designated as hedging instruments Balance Sheet Location September 30, 2019 December 31, 2018 Assets Foreign currency contracts Other current assets $ 27.7 $ 29.1 Foreign currency contracts Other assets $ 1.6 $ — Cross currency swap contracts Other assets $ 19.2 $ 0.8 Liabilities Foreign currency contracts Accounts payable and accrued liabilities $ 4.4 $ 4.4 Foreign currency contracts Other long-term liabilities $ — $ 0.8 The following table presents the effect of master-netting agreements and rights of offset on the consolidated condensed balance sheets (in millions): Gross Amounts Not Offset in the Consolidated Balance Sheet Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet September 30, 2019 Gross Amounts Financial Instruments Cash Collateral Received Net Amount Derivative assets Foreign currency contracts $ 29.3 $ — $ 29.3 $ (4.0 ) $ — $ 25.3 Cross currency swap contracts $ 19.2 $ — $ 19.2 $ — $ — $ 19.2 Derivative liabilities Foreign currency contracts $ 4.4 $ — $ 4.4 $ (4.0 ) $ — $ 0.4 December 31, 2018 Derivative assets Foreign currency contracts $ 29.1 $ — $ 29.1 $ (3.6 ) $ — $ 25.5 Cross currency swap contracts $ 0.8 $ — $ 0.8 $ — $ — $ 0.8 Derivative liabilities Foreign currency contracts $ 5.2 $ — $ 5.2 $ (3.6 ) $ — $ 1.6 The following tables present the effect of derivative and non-derivative hedging instruments on the consolidated condensed statements of operations and consolidated condensed statements of comprehensive income (in millions): Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Three Months Ended Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Three Months Ended 2019 2018 2019 2018 Cash flow hedges Foreign currency contracts $ 22.1 $ 12.1 Cost of sales $ 12.8 $ (4.6 ) Selling, general, and administrative expenses $ 0.6 $ (0.4 ) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Nine Months Ended Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Nine Months Ended 2019 2018 2019 2018 Cash flow hedges Foreign currency contracts $ 32.9 $ 28.2 Cost of sales $ 31.7 $ (18.8 ) Selling, general, and administrative expenses $ 1.4 $ (2.5 ) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Three Months Ended Location of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Three Months Ended 2019 2018 2019 2018 Net investment hedges Cross currency swap contracts $ 16.3 $ (0.5 ) Interest (income) expense, net $ 1.7 $ 1.6 Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) Amount of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Nine Months Ended Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Nine Months Ended 2019 2018 2019 2018 Net investment hedges Cross currency swap contracts $ 18.4 $ (10.5 ) Interest (income) expense, net $ 5.0 $ 1.8 Foreign currency denominated debt $ — $ 6.8 In June 2018, the Company repaid and dedesignated its €370.0 million of outstanding long-term debt which had been previously designated as a net investment hedge, and concurrently entered into cross currency swap contracts, which were designated as a net investment hedge. The cross currency swaps have an expiration date of June 15, 2028. At maturity of the cross currency swap contracts, the Company will deliver the notional amount of €257.2 million and will receive $300.0 million from the counterparties. The Company will receive semi-annual interest payments from the counterparties based on a fixed interest rate until maturity of the agreements. Amount of Gain or (Loss) Recognized in Income on Derivative Three Months Ended Location of Gain or (Loss) Recognized in Income on Derivative Fair value hedges 2019 2018 Foreign currency contracts Other income, net $ 2.1 $ — Amount of Gain or (Loss) Recognized in Income on Derivative Nine Months Ended Location of Gain or (Loss) Recognized in Income on Derivative Fair value hedges 2019 2018 Foreign currency contracts Other income, net $ (2.1 ) $ — Amount of Gain or (Loss) Recognized in Income on Derivative Three Months Ended Location of Gain or (Loss) Recognized in Income on Derivative Derivatives not designated as hedging instruments 2019 2018 Foreign currency contracts Other income, net $ 3.2 $ 5.9 Amount of Gain or (Loss) Recognized in Income on Derivative Nine Months Ended Location of Gain or (Loss) Recognized in Income on Derivative Derivatives not designated as hedging instruments 2019 2018 Foreign currency contracts Other income, net $ 1.7 $ 7.3 The following table presents the effect of cash flow hedge accounting on the consolidated condensed statements of operations: Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships Three Months Ended Nine Months Ended Cost of sales Selling, general, and administrative expenses Other Income, net Cost of sales Selling, general, and administrative expenses Other Income, net Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of fair value or cash flow hedges are recorded $ (292.4 ) $ (306.2 ) $ 4.6 $ (828.2 ) $ (895.0 ) $ 7.8 The effects of fair value and cash flow hedging: Gain (loss) on fair value hedging relationships: Foreign currency contracts: Hedged items — — (1.0 ) — — 5.3 Derivatives designated as hedging instruments — — 1.0 — — (5.3 ) Amount excluded from effectiveness testing recognized in earnings based on an amortization approach — — 1.1 — — 3.2 Gain (loss) on cash flow hedging relationships: Foreign currency contracts: Amount of gain (loss) reclassified from accumulated OCI into income $ 12.8 $ 0.6 $ — $ 31.7 $ 1.4 $ — Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Cost of sales Selling, general, and administrative expenses Cost of sales Selling, general, and administrative expenses Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of fair value or cash flow hedges are recorded $ (224.9 ) $ (269.5 ) $ (704.7 ) $ (800.4 ) The effects of fair value and cash flow hedging: Gain (loss) on cash flow hedging relationships: Foreign currency contracts: Amount of gain (loss) reclassified from accumulated OCI into income $ (4.6 ) $ (0.4 ) $ (18.8 ) $ (2.5 ) The Company expects that during the next twelve months it will reclassify to earnings a $9.4 million gain currently recorded in " Accumulated Other Comprehensive Loss ."

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock-based compensation expense related to awards issued under the Company's incentive compensation plans for the three and nine months ended September 30, 2019 and 2018 was as follows (in millions): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Cost of sales $ 3.6 $ 2.7 $ 11.5 $ 8.5 Selling, general, and administrative expenses 12.4 11.9 39.4 36.4 Research and development expenses 3.8 2.8 12.0 10.1 Total stock-based compensation expense $ 19.8 $ 17.4 $ 62.9 $ 55.0 At September 30, 2019 , the total remaining compensation cost related to nonvested stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and employee stock purchase plan ("ESPP") subscription awards amounted to $143.3 million , which will be amortized on a straight-line basis over the weighted-average remaining requisite service period of 32 months . During the nine months ended September 30, 2019 , the Company granted 0.8 million stock options at a weighted-average exercise price of $178.81 and 0.2 million shares of restricted stock units at a weighted-average grant-date fair value of $179.85 . The Company also granted 33,000 shares of market-based restricted stock units at a weighted-average grant-date fair value of $193.95 . The market-based restricted stock units vest based on a combination of certain service and market conditions. The actual number of shares issued will be determined based on the Company's total shareholder return relative to a selected industry peer group over a three-year performance period, and may range from 0% to 175% of the targeted number of shares granted. Fair Value Disclosures The fair value of the market-based restricted stock units was determined using a Monte Carlo simulation model, which uses multiple input variables to determine the probability of satisfying the market condition requirements. The weighted- average assumptions used to determine the fair value of the market-based restricted stock units granted during the nine months ended September 30, 2019 and 2018 included a risk-free interest rate of 2.2% and 2.7% , respectively, and an expected volatility rate of 29.4% and 29.7% , respectively. The following table includes the weighted-average grant-date fair values of stock options granted during the periods indicated and the related weighted-average assumptions used in the Black-Scholes option pricing model: Option Awards Three Months Ended Nine Months Ended 2019 2018 2019 2018 Average risk-free interest rate 1.8 % 2.8 % 2.3 % 2.9 % Expected dividend yield None None None None Expected volatility 29.7 % 29.2 % 29.6 % 29.1 % Expected term (years) 5.2 5.2 5.1 5.0 Fair value, per option $ 58.07 $ 46.37 $ 54.31 $ 42.44 The following table includes the weighted-average grant-date fair values for ESPP subscriptions granted during the periods indicated and the related weighted-average assumptions used in the Black-Scholes option pricing model: ESPP Three Months Ended Nine Months Ended 2019 2018 2019 2018 Average risk-free interest rate 2.0 % 2.2 % 2.4 % 1.7 % Expected dividend yield None None None None Expected volatility 32.0 % 34.3 % 32.4 % 32.8 % Expected term (years) 0.7 0.7 0.6 0.6 Fair value, per share $ 57.31 $ 46.58 $ 49.29 $ 36.53

ACCELERATED SHARE REPURCHASE

ACCELERATED SHARE REPURCHASE	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
ACCELERATED SHARE REPURCHASE	ACCELERATED SHARE REPURCHASE During 2019 and 2018, the Company entered into accelerated share repurchase ("ASR") agreements providing for the repurchase of the Company's common stock based on the volume-weighted average price ("VWAP") of the Company's common stock during the term of the agreements, less a discount. The following table summarizes the terms of the ASR agreements (dollars and shares in millions, except per share data): Initial Delivery Final Settlement Agreement Date Amount Paid Shares Received Price per Share (a) Value of Shares as % of Contract Value Settlement Date Total Shares Received Average Price per Share (a) April 2018 $ 400.0 2.5 $ 127.36 80 % July 2018 2.8 $ 142.37 May 2019 $ 150.0 0.7 $ 178.66 80 % May 2019 0.8 $ 178.42 May 2019 $ 100.0 0.5 $ 170.02 80 % June 2019 0.6 $ 178.46 The ASR agreements were accounted for as two separate transactions: (a) the value of the initial delivery of shares was recorded as shares of common stock acquired in a treasury stock transaction on the acquisition date and (b) the remaining amount of the purchase price paid was recorded as a forward contract indexed to the Company's own common stock and was recorded in " Additional Paid-in Capital " on the consolidated balance sheets. The initial delivery of shares resulted in an immediate reduction of the outstanding shares used to calculate the weighted-average common shares outstanding for basic and diluted earnings per share. The Company determined that the forward contract indexed to the Company's common stock met all the applicable criteria for equity classification and, therefore, was not accounted for as a derivative instrument.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES On January 28, 2019, Abbott Cardiovascular Systems, Inc. and Evalve, Inc., both subsidiaries of Abbott Laboratories (collectively "Abbott") filed a lawsuit against Edwards Lifesciences Corporation and Edwards Lifesciences, LLC, (“Edwards”) in the Federal District Court in the District of Delaware alleging that the Edwards PASCAL heart valve repair system infringes certain claims of Abbott’s U.S. Patent Nos. 7,288,097, 6,752,813, 7,563,267, 7,736,388, and 8,057,493, seeking unspecified monetary damages and preliminary and permanent injunctive relief. Thereafter, Abbott sought a preliminary injunction and a temporary restraining order and the court denied these requests. Trial is scheduled for May 4, 2020. On January 28, 2019, Abbott and its Abbott Medical UK Limited subsidiary (inclusively and collectively also "Abbott”) filed a lawsuit in the United Kingdom in the High Court of Justice, Chancery Division, Patents Court, against Edwards Lifesciences Limited, alleging that the Edwards PASCAL heart valve repair system infringes certain claims of Abbott’s UK national patents arising from EP 1 624 810 B1 (the " ‘810 patent") and EP 1 408 850 B1 (the “ ‘850 patent”). Abbott has requested a preliminary injunction and the High Court denied this request. The trial is scheduled to begin between December 9-11, 2019. On January 28, 2019, Abbott Medical GmbH (inclusively and collectively also "Abbott”) filed a lawsuit in the District Court in Düsseldorf, Germany against Edwards Lifesciences Corporation and its German subsidiary, Edwards Lifesciences Services GmbH, alleging that the Edwards PASCAL heart valve repair system infringes certain claims of Abbott’s German national patents arising from the ‘810 and ‘850 European patents. The District Court has scheduled trial for July 14, 2020. On March 15, 2019, Edwards filed a lawsuit in the German Patent Court in Munich, Germany, alleging that Abbott’s ‘850 patent is invalid. The Abbott ‘810 patent is already subject to opposition proceedings at the European Patent Office. On January 28, 2019, Abbott and Abbott Medical AG (inclusively and collectively also "Abbott”) filed a lawsuit in the Federal Patent Court in St. Gallen, Switzerland against Edwards Lifesciences AG, Edwards Lifesciences Technology Sàrl, Edwards Lifesciences IPRM AG, and Mitral Valve Technologies Sàrl, alleging that the Edwards PASCAL heart valve repair system infringes Abbott’s Swiss national patents arising from the same European patents. The court subsequently granted Abbott's request for a preliminary injunction on the '850 patent and Edwards has appealed. On January 28, 2019, Abbott Cardiovascular System Inc., Abbott Medical Italia S.p.A and Evalve Inc. (inclusively and collectively also "Abbott”) filed a lawsuit in the Civil Court of Milan, Italy against Edwards Lifesciences Corporation, Edwards Lifesciences LLC, and Edwards Lifesciences Italia SpA, alleging that the Edwards PASCAL heart valve repair system infringes Abbott’s Italian national patent arising from its ‘850 European patent. The lawsuit seeks a preliminary injunction. The Company intends to defend itself vigorously in all of the above matters. On February 22, 2019, Edwards Lifesciences Corporation and Edwards Lifesciences, LLC filed a lawsuit against Abbott Cardiovascular Systems, Inc. in the Federal District Court in the Central District of California alleging that Abbott’s MITRACLIP device infringes Edwards’ U.S. Patent Nos. 6,719,767, 7,011,669, and 8,062,313 related to heart implant technology and seeking unspecified monetary damages. A trial date has not yet been scheduled. Because the ultimate outcome of the above matters involve judgments, estimates, and inherent uncertainties, charges related to such matters could have a material adverse impact on Edwards Lifesciences' financial results. The Company records accruals for loss contingencies to the extent it is probable that a liability has been incurred and the amount of the related loss can be reasonably estimated. The Company is not able to estimate the amount or range of any loss for these matters. In addition, Edwards Lifesciences is or may be a party to, or may otherwise be responsible for, pending or threatened lawsuits related primarily to products and services currently or formerly manufactured or performed, as applicable, by Edwards Lifesciences (the "Other Lawsuits"). The Other Lawsuits raise difficult and complex factual and legal issues and are subject to many uncertainties, including, but not limited to, the facts and circumstances of each particular case or claim, the jurisdiction in which each suit is brought, and differences in applicable law. Management does not believe that any charge relating to the Other Lawsuits would have a material adverse effect on Edwards Lifesciences’ overall financial results. However, the resolution of one or more of the Other Lawsuits in any reporting period, could have a material adverse impact on Edwards Lifesciences' financial results for that period. The Company is not able to estimate the amount or range of any loss for legal contingencies for which there is no reserve or additional loss for matters already reserved. Edwards Lifesciences is subject to various environmental laws and regulations both within and outside of the United States. The operations of Edwards Lifesciences, like those of other medical device companies, involve the use of substances regulated under environmental laws, primarily in manufacturing and sterilization processes. While it is difficult to quantify the potential impact of continuing compliance with environmental protection laws, management believes that such compliance will not have a material impact on Edwards Lifesciences' financial results.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following table is a summary of activity for each component of " Accumulated Other Comprehensive Loss " for the nine months ended September 30, 2019 (in millions): Foreign Currency Translation Adjustments Unrealized Gain on Hedges Unrealized (Loss) Gain on Available-for-sale Investments Unrealized Pension Costs Total Accumulated Other Comprehensive Loss December 31, 2018 $ (143.6 ) $ 23.6 $ (5.0 ) $ (13.5 ) $ (138.5 ) Other comprehensive (loss) gain before reclassifications (17.6 ) 35.1 7.8 (0.3 ) 25.0 Amounts reclassified from accumulated other comprehensive loss (5.0 ) (31.0 ) 0.3 — (35.7 ) Deferred income tax expense (4.5 ) (0.3 ) (1.8 ) — (6.6 ) September 30, 2019 $ (170.7 ) $ 27.4 $ 1.3 $ (13.8 ) $ (155.8 ) The following table provides information about amounts reclassified from " Accumulated Other Comprehensive Loss " (in millions): Three Months Ended Nine Months Ended Affected Line on Consolidated Condensed Statements of Operations Details about Accumulated Other Comprehensive Loss Components 2019 2018 2019 2018 Foreign currency translation adjustments $ 1.7 $ — $ 5.0 $ — Other income, net (0.4 ) — (1.2 ) — Provision for income taxes $ 1.3 $ — $ 3.8 $ — Net of tax Gain on hedges $ 12.8 $ (4.6 ) $ 31.7 $ (18.8 ) Cost of sales 0.6 (0.4 ) 1.4 (2.5 ) Selling, general, and administrative expenses 2.1 — (2.1 ) — Other income, net 15.5 (5.0 ) 31.0 (21.3 ) Total before tax (3.5 ) 1.1 (8.3 ) 5.1 Provision for income taxes $ 12.0 $ (3.9 ) $ 22.7 $ (16.2 ) Net of tax (Loss) gain on available-for-sale investments $ — $ (0.6 ) $ (0.3 ) $ (2.9 ) Other income, net — — — 0.2 Provision for income taxes $ — $ (0.6 ) $ (0.3 ) $ (2.7 ) Net of tax Unrealized pension costs $ — $ — $ — $ (0.6 ) Other income, net — — — 0.1 Provision for income taxes $ — $ — $ — $ (0.5 )

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is computed by dividing net income by the weighted-average common shares outstanding during a period. Diluted earnings per share is computed based on the weighted-average common shares outstanding plus the effect of dilutive potential common shares outstanding during the period calculated using the treasury stock method. Dilutive potential common shares include employee equity share options, nonvested shares, and similar equity instruments granted by the Company. Potential common share equivalents have been excluded where their inclusion would be anti-dilutive. The table below presents the computation of basic and diluted earnings per share (in millions, except for per share information): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Basic: Net income $ 274.7 $ 225.9 $ 766.7 $ 715.2 Weighted-average shares outstanding 208.2 209.0 208.1 209.5 Basic earnings per share $ 1.32 $ 1.08 $ 3.68 $ 3.41 Diluted: Net income $ 274.7 $ 225.9 $ 766.7 $ 715.2 Weighted-average shares outstanding 208.2 209.0 208.1 209.5 Dilutive effect of stock plans 3.9 4.2 4.0 4.6 Dilutive weighted-average shares outstanding 212.1 213.2 212.1 214.1 Diluted earnings per share $ 1.30 $ 1.06 $ 3.61 $ 3.34 Stock options, restricted stock units, and market-based restricted stock units to purchase 0.8 million and 1.0 million shares for the three months ended September 30, 2019 and 2018 , respectively, and 0.6 million and 1.1 million shares for the nine months ended September 30, 2019 and 2018

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company's effective income tax rates were 8.9% and 9.2% for the three months ended September 30, 2019 and 2018 , respectively, and 9.9% and 6.3% for the nine months ended September 30, 2019 and 2018 , respectively. The effective rates for the nine months ended September 30, 2019 and 2018 were lower than the federal statutory rate of 21% primarily due to (1) the tax benefit from employee share-based compensation and (2) foreign earnings taxed at lower rates. The effective rate for the nine months ended September 30, 2018 included an expense of $15.8 million related to adjustment of the estimated provisional amounts recorded at December 31, 2017 in accordance with SEC Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act. In addition, the effective rate for the three and nine months ended September 30, 2018 included a $36.1 million benefit from the settlement of tax audits, and a tax benefit of $9.1 million from a tax reform related restructuring. The effective rates include a tax benefit from employee share-based compensation of $19.6 million and $12.9 million for the three months ended September 30, 2019 and 2018 , respectively, and $56.2 million and $44.3 million for the nine months ended September 30, 2019 and 2018 , respectively. The Company strives to resolve open matters with each tax authority at the examination level and could reach agreement with a tax authority at any time. While the Company has accrued for matters it believes are more likely than not to require settlement, the final outcome with a tax authority may result in a tax liability that is more or less than that reflected in the consolidated condensed financial statements. Furthermore, the Company may later decide to challenge any assessments, if made, and may exercise its right to appeal. The uncertain tax positions are reviewed quarterly and adjusted as events occur that affect potential liabilities for additional taxes, such as lapsing of applicable statutes of limitations, proposed assessments by tax authorities, negotiations between tax authorities, identification of new issues, and issuance of new legislation, regulations, or case law. As of September 30, 2019 and December 31, 2018 , the liability for income taxes associated with uncertain tax positions was $186.2 million and $150.7 million , respectively. The Company estimates that these liabilities would be reduced by $61.7 million and $42.7 million , respectively, from offsetting tax benefits associated with the correlative effects of potential transfer pricing adjustments, state income taxes, and timing adjustments. The net amounts of $124.5 million and $108.0 million , respectively, if not required, would favorably affect the Company's effective tax rate. At September 30, 2019 , all material state, local, and foreign income tax matters have been concluded for years through 2008. The Internal Revenue Service ("IRS") began its examination of the 2015 and 2016 tax years during the fourth quarter of 2018 and its examination of the 2017 tax year during the first quarter of 2019. During the second quarter of 2019, the Dominican Republic tax authorities inquired as to withholding tax matters related to branch remittances in 2016 and certain intercompany transactions payments for 2016 through 2018. During the third quarter of 2019, the Company received a letter from the Dominican Republic tax authorities stating that their review through 2018 had concluded, and as a result no withholding tax was due.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Edwards Lifesciences conducts operations worldwide and is managed in the following geographical regions: United States, Europe, Japan, and Rest of World. All regions sell products that are used to treat advanced cardiovascular disease. The Company's geographic segments are reported based on the financial information provided to the Chief Operating Decision Maker (the Chief Executive Officer). The Company evaluates the performance of its geographic segments based on net sales and income before provision for income taxes ("pre-tax income"). The accounting policies of the segments are substantially the same as those described in Note 2 of the Company's consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2018 . Segment net sales and segment pre-tax income are based on internally derived standard foreign exchange rates, which may differ from year to year, and do not include inter-segment profits. Because of the interdependence of the reportable segments, the operating profit as presented may not be representative of the geographical distribution that would occur if the segments were not interdependent. Net sales by geographic area are based on the location of the customer. Certain items are maintained at the corporate level and are not allocated to the segments. The non-allocated items include net interest expense, global marketing expenses, corporate research and development expenses, manufacturing variances, corporate headquarters costs, special gains and charges, stock-based compensation, foreign currency hedging activities, certain litigation costs, changes in the fair value of contingent consideration liabilities, and most of the Company's amortization expense. Although most of the Company's depreciation expense is included in segment pre-tax income, due to the Company's methodology for cost build-up, it is impractical to determine the amount of depreciation expense included in each segment, and, therefore, a portion is maintained at the corporate level. The Company neither discretely allocates assets to its operating segments, nor evaluates the operating segments using discrete asset information. The table below presents information about Edwards Lifesciences' reportable segments (in millions): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Segment Net Sales United States $ 647.8 $ 518.5 $ 1,835.5 $ 1,510.2 Europe 219.8 191.6 684.3 608.1 Japan 110.0 95.4 322.9 288.4 Rest of World 112.0 96.8 316.5 290.2 Total segment net sales $ 1,089.6 $ 902.3 $ 3,159.2 $ 2,696.9 Segment Operating Income United States $ 447.4 $ 353.0 $ 1,258.3 $ 1,010.5 Europe 111.5 90.9 353.2 295.6 Japan 70.7 55.0 202.8 171.8 Rest of World 36.7 28.3 99.8 89.6 Total segment operating income $ 666.3 $ 527.2 $ 1,914.1 $ 1,567.5 The table below presents reconciliations of segment net sales to consolidated net sales and segment operating income to consolidated pre-tax income (in millions): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Net Sales Reconciliation Segment net sales $ 1,089.6 $ 902.3 $ 3,159.2 $ 2,696.9 Foreign currency 4.4 4.3 14.7 48.2 Consolidated net sales $ 1,094.0 $ 906.6 $ 3,173.9 $ 2,745.1 Pre-tax Income Reconciliation Segment operating income $ 666.3 $ 527.2 $ 1,914.1 $ 1,567.5 Unallocated amounts: Corporate items (384.2 ) (281.0 ) (1,073.1 ) (792.0 ) Special charge (Note 4) — — (24.0 ) — Intellectual property litigation expenses (7.9 ) (7.9 ) (19.5 ) (19.1 ) Change in fair value of contingent consideration liabilities, net 2.3 6.4 (12.4 ) (8.3 ) Foreign currency 17.8 4.2 50.9 5.4 Consolidated operating income 294.3 248.9 836.0 753.5 Non-operating income 7.4 (0.2 ) 15.0 9.7 Consolidated pre-tax income $ 301.7 $ 248.7 $ 851.0 $ 763.2 Enterprise-wide Information Enterprise-wide information is based on actual foreign exchange rates used in the Company's consolidated condensed financial statements. Three Months Ended Nine Months Ended 2019 2018 2019 2018 (in millions) Net Sales by Geographic Area United States $ 647.8 $ 518.7 $ 1,835.5 $ 1,510.3 Europe 222.6 201.3 699.0 659.3 Japan 112.9 94.2 324.4 289.5 Rest of World 110.7 92.4 315.0 286.0 $ 1,094.0 $ 906.6 $ 3,173.9 $ 2,745.1 Net Sales by Major Product and Service Area Transcatheter Aortic Valve Replacement $ 700.0 $ 557.1 $ 1,975.4 $ 1,692.2 Transcatheter Mitral and Tricuspid Therapies 9.7 0.7 21.0 2.1 Surgical Structural Heart 204.1 184.6 636.6 554.4 Critical Care 180.2 164.2 540.9 496.4 $ 1,094.0 $ 906.6 $ 3,173.9 $ 2,745.1 September 30, 2019 December 31, 2018 (in millions) Long-lived Tangible Assets by Geographic Area United States $ 791.5 $ 642.1 Europe 73.7 36.6 Japan 23.1 6.7 Rest of World 258.7 214.4 $ 1,147.0 $ 899.8

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	The accompanying interim consolidated condensed financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") and should be read in conjunction with the consolidated financial statements and notes included in Edwards Lifesciences Corporation's Annual Report on Form 10-K for the year ended December 31, 2018 . Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") have been condensed or omitted. In the opinion of management, the interim consolidated condensed financial statements reflect all adjustments considered necessary for a fair statement of the interim periods. All such adjustments are of a normal, recurring nature. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued an amendment to the guidance on leases. The amendment improves transparency and comparability among companies by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. The guidance was effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach was required upon adoption. Reporting entities could elect to adjust comparative periods and record the cumulative effect adjustment at the beginning of the earliest comparative period, or to not adjust comparative periods and record the cumulative effect adjustment at the effective date. The Company adopted the new guidance as of the effective date of January 1, 2019 with no adjustments to the comparative period presented in the financial statements. In addition, the Company elected the package of practical expedients permitted under the transition guidance to not reassess (1) whether any expired or existing contracts are, or contain, leases, (2) the lease classification for expired or existing leases, and (3) initial direct costs for existing leases. The Company implemented internal controls and system solutions to enable the preparation and disclosure of financial information about its leasing arrangements upon adoption. The adoption of the guidance resulted in the recognition of right-of-use ("ROU") assets and additional lease liabilities for operating leases of $58.7 million as of January 1, 2019. The guidance did not have an impact on the Company's consolidated condensed statements of operations. See Note 3 for disclosures related to the Company's leases.

OTHER CONSOLIDATED FINANCIAL _2

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS (Tables)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventory	Components of selected captions in the consolidated condensed balance sheets consisted of the following (in millions): September 30, 2019 December 31, 2018 Inventories Raw materials $ 125.8 $ 111.5 Work in process 148.6 144.8 Finished products 336.7 350.7 $ 611.1 $ 607.0
Schedule of Accounts Payable and Accrued Liabilities	September 30, 2019 December 31, 2018 Accounts payable and accrued liabilities Accounts payable $ 135.9 $ 134.0 Employee compensation and withholdings 262.2 226.1 Taxes payable (Note 14) 18.9 31.3 Property, payroll, and other taxes 43.2 39.5 Research and development accruals 61.2 48.9 Accrued rebates 78.0 80.0 Fair value of derivatives 4.5 4.4 Accrued marketing expenses 14.7 22.3 Litigation and insurance reserves 18.9 196.7 Accrued relocation costs 16.7 11.3 Accrued professional services 12.2 11.0 Accrued realignment reserves 16.4 6.8 Other accrued liabilities 68.9 64.3 $ 751.7 $ 876.6
Schedule of Cash Flow, Supplemental Disclosures	Supplemental Cash Flow Information (in millions) Nine Months Ended 2019 2018 Cash paid during the year for: Income taxes $ 53.9 $ 227.3 Amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 19.5 $ — Non-cash investing and financing transactions: Fair value of shares issued in payment for contingent consideration liabilities $ — $ 34.3 Right-of-use assets obtained in exchange for new lease liabilities $ 33.2 $ — Capital expenditures accruals $ 26.4 $ 23.7

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Assets and Liabilities of Lessee	Supplemental balance sheet information related to operating leases was as follows (in millions, except lease term and discount rate): September 30, Operating lease ROU assets $ 73.3 Operating lease liabilities, current portion $ 24.1 Operating lease liabilities, long-term portion 52.4 Total operating lease liabilities $ 76.5
Lessee, Operating Lease, Liability, Maturity	Maturities of operating lease liabilities at September 30, 2019 were as follows (in millions): 2019 $ 6.8 2020 25.2 2021 17.6 2022 12.3 2023 8.9 Thereafter 11.7 Total lease payments 82.5 Less: imputed interest (6.0 ) Total lease liabilities $ 76.5 Weighted-average remaining lease term (in years) 4.5 Weighted-average discount rate 2.9 %
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments (including interest) under non-cancelable operating leases at December 31, 2018 were as follows (in millions): Operating 2019 $ 25.6 2020 21.5 2021 13.5 2022 9.9 2023 6.4 Thereafter 14.3 Total obligations and commitments $ 91.2

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments in Debt Securities	Investments in debt securities at the end of each period were as follows (in millions): September 30, 2019 December 31, 2018 Held-to-maturity Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Bank time deposits $ — $ — $ — $ — $ 20.0 $ — $ — $ 20.0 Available-for-sale Commercial paper $ 10.9 $ — $ — $ 10.9 $ 56.7 $ — $ — $ 56.7 U.S. government and agency securities 75.4 0.6 — 76.0 79.7 0.2 (0.7 ) 79.2 Foreign government bonds 1.6 — — 1.6 1.7 — — 1.7 Asset-backed securities 80.7 0.6 — 81.3 110.6 0.1 (0.5 ) 110.2 Corporate debt securities 354.9 2.0 (0.1 ) 356.8 459.8 0.1 (4.3 ) 455.6 Municipal securities 2.7 — — 2.7 2.8 — — 2.8 Total $ 526.2 $ 3.2 $ (0.1 ) $ 529.3 $ 711.3 $ 0.4 $ (5.5 ) $ 706.2
Schedule of Cost and Fair Value of Investments in Debt Securities, By Contractual Maturity	The cost and fair value of investments in debt securities, by contractual maturity, as of September 30, 2019 were as follows: Available-for-Sale Cost Fair Value (in millions) Due in 1 year or less $ 169.9 $ 170.3 Due after 1 year through 5 years 292.4 294.5 Instruments not due at a single maturity date 63.9 64.5 $ 526.2 $ 529.3
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of September 30, 2019 and December 31, 2018 , aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions): September 30, 2019 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate debt securities $ — $ — $ 41.4 $ (0.1 ) $ 41.4 $ (0.1 ) December 31, 2018 Less than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S. government and agency securities $ 0.7 $ (0.1 ) $ 56.5 $ (0.6 ) $ 57.2 $ (0.7 ) Asset-backed securities 4.0 — 61.3 (0.5 ) 65.3 (0.5 ) Corporate debt securities 177.4 (1.1 ) 203.7 (3.2 ) 381.1 (4.3 ) $ 182.1 $ (1.2 ) $ 321.5 $ (4.3 ) $ 503.6 $ (5.5 )
Schedule of Investments in Unconsolidated Affiliates	Investments in these unconsolidated affiliates are recorded in " Long-term Investments " on the consolidated condensed balance sheets, and are as follows: September 30, December 31, (in millions) Equity method investments Cost $ 10.7 $ 9.1 Equity in losses (3.8 ) (4.7 ) Carrying value of equity method investments 6.9 4.4 Equity securities Carrying value of non-marketable equity securities 20.1 18.1 Total investments in unconsolidated affiliates $ 27.0 $ 22.5

ACQUISITION (Tables)

ACQUISITION (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Summary of Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of the assets acquired and liabilities assumed (in millions): Current assets $ 6.1 Property and equipment, net 1.3 Goodwill 64.4 Developed technology 35.9 Customer relationships 8.8 Deferred tax assets 2.2 Liabilities assumed (17.9 ) Total purchase price 100.8 Less: cash acquired (0.6 ) Total purchase price, net of cash acquired $ 100.2

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Summary of Financial Instruments Measured at Fair Value on a Recurring Basis	The following table summarizes the Company's financial instruments which are measured at fair value on a recurring basis (in millions): September 30, 2019 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 248.1 $ 66.5 $ — $ 314.6 Available-for-sale investments: Corporate debt securities — 356.8 — 356.8 Asset-backed securities — 81.3 — 81.3 U.S. government and agency securities 45.5 30.5 — 76.0 Foreign government bonds — 1.6 — 1.6 Commercial paper — 10.9 — 10.9 Municipal securities — 2.7 — 2.7 Investments held for deferred compensation plans 81.4 — — 81.4 Derivatives — 48.5 — 48.5 $ 375.0 $ 598.8 $ — $ 973.8 Liabilities Derivatives $ — $ 4.4 $ — $ 4.4 Deferred compensation plans 82.0 — — 82.0 Contingent consideration liabilities — — 191.0 191.0 $ 82.0 $ 4.4 $ 191.0 $ 277.4 December 31, 2018 Assets Cash equivalents $ — $ 11.8 $ — $ 11.8 Available-for-sale investments: Corporate debt securities — 455.6 — 455.6 Asset-backed securities — 110.2 — 110.2 U.S. government and agency securities 19.6 59.6 — 79.2 Foreign government bonds — 1.7 — 1.7 Commercial paper — 56.7 — 56.7 Municipal securities — 2.8 — 2.8 Investments held for deferred compensation plans 67.6 — — 67.6 Derivatives — 29.9 — 29.9 $ 87.2 $ 728.3 $ — $ 815.5 Liabilities Derivatives $ — $ 5.2 $ — $ 5.2 Deferred compensation plans 68.5 — — 68.5 Contingent consideration liabilities — — 178.6 178.6 $ 68.5 $ 5.2 $ 178.6 $ 252.3
Summary of Changes in Fair Value of Contingent Consideration Obligation	The following table summarizes the changes in fair value of the contingent consideration liabilities for the nine months ended September 30, 2019 (in millions): Balance at December 31, 2018 $ 178.6 Changes in fair value 12.4 Balance at September 30, 2019 $ 191.0

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Derivative Financial Instruments Used to Manage Currency Exchange Rate Risk and Interest Rate Risk	The Company uses derivative financial instruments to manage interest rate and foreign currency risks, as summarized below. It is the Company's policy not to enter into derivative financial instruments for speculative purposes. Notional amounts are stated in United States dollar equivalents at spot exchange rates at the respective dates. Notional Amount September 30, 2019 December 31, 2018 (in millions) Foreign currency forward exchange contracts $ 1,247.7 $ 1,378.2 Cross currency swap contracts 300.0 300.0
Schedule of Location and Fair Value Amounts of Derivative Instruments Reported in Consolidated Condensed Balance Sheets	The following table presents the location and fair value amounts of derivative instruments reported in the consolidated condensed balance sheets (in millions): Fair Value Derivatives designated as hedging instruments Balance Sheet Location September 30, 2019 December 31, 2018 Assets Foreign currency contracts Other current assets $ 27.7 $ 29.1 Foreign currency contracts Other assets $ 1.6 $ — Cross currency swap contracts Other assets $ 19.2 $ 0.8 Liabilities Foreign currency contracts Accounts payable and accrued liabilities $ 4.4 $ 4.4 Foreign currency contracts Other long-term liabilities $ — $ 0.8
Schedule of Effect of Master-Netting Agreements and Rights of Offset, Derivative Assets	The following table presents the effect of master-netting agreements and rights of offset on the consolidated condensed balance sheets (in millions): Gross Amounts Not Offset in the Consolidated Balance Sheet Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet September 30, 2019 Gross Amounts Financial Instruments Cash Collateral Received Net Amount Derivative assets Foreign currency contracts $ 29.3 $ — $ 29.3 $ (4.0 ) $ — $ 25.3 Cross currency swap contracts $ 19.2 $ — $ 19.2 $ — $ — $ 19.2 Derivative liabilities Foreign currency contracts $ 4.4 $ — $ 4.4 $ (4.0 ) $ — $ 0.4 December 31, 2018 Derivative assets Foreign currency contracts $ 29.1 $ — $ 29.1 $ (3.6 ) $ — $ 25.5 Cross currency swap contracts $ 0.8 $ — $ 0.8 $ — $ — $ 0.8 Derivative liabilities Foreign currency contracts $ 5.2 $ — $ 5.2 $ (3.6 ) $ — $ 1.6
Schedule of Effect of Master-Netting Agreements and Rights of Offset, Derivative Liabilities	The following table presents the effect of master-netting agreements and rights of offset on the consolidated condensed balance sheets (in millions): Gross Amounts Not Offset in the Consolidated Balance Sheet Gross Amounts Offset in the Consolidated Balance Sheet Net Amounts Presented in the Consolidated Balance Sheet September 30, 2019 Gross Amounts Financial Instruments Cash Collateral Received Net Amount Derivative assets Foreign currency contracts $ 29.3 $ — $ 29.3 $ (4.0 ) $ — $ 25.3 Cross currency swap contracts $ 19.2 $ — $ 19.2 $ — $ — $ 19.2 Derivative liabilities Foreign currency contracts $ 4.4 $ — $ 4.4 $ (4.0 ) $ — $ 0.4 December 31, 2018 Derivative assets Foreign currency contracts $ 29.1 $ — $ 29.1 $ (3.6 ) $ — $ 25.5 Cross currency swap contracts $ 0.8 $ — $ 0.8 $ — $ — $ 0.8 Derivative liabilities Foreign currency contracts $ 5.2 $ — $ 5.2 $ (3.6 ) $ — $ 1.6
Schedule of Effect of Derivative Instruments on Consolidated Condensed Statements of Operations and Consolidated Condensed Statements of Comprehensive Income	The following tables present the effect of derivative and non-derivative hedging instruments on the consolidated condensed statements of operations and consolidated condensed statements of comprehensive income (in millions): Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Three Months Ended Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Three Months Ended 2019 2018 2019 2018 Cash flow hedges Foreign currency contracts $ 22.1 $ 12.1 Cost of sales $ 12.8 $ (4.6 ) Selling, general, and administrative expenses $ 0.6 $ (0.4 ) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Nine Months Ended Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Nine Months Ended 2019 2018 2019 2018 Cash flow hedges Foreign currency contracts $ 32.9 $ 28.2 Cost of sales $ 31.7 $ (18.8 ) Selling, general, and administrative expenses $ 1.4 $ (2.5 ) Amount of Gain or (Loss) Recognized in OCI on Derivative Amount of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Three Months Ended Location of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Three Months Ended 2019 2018 2019 2018 Net investment hedges Cross currency swap contracts $ 16.3 $ (0.5 ) Interest (income) expense, net $ 1.7 $ 1.6 Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) Amount of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) Nine Months Ended Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Nine Months Ended 2019 2018 2019 2018 Net investment hedges Cross currency swap contracts $ 18.4 $ (10.5 ) Interest (income) expense, net $ 5.0 $ 1.8 Foreign currency denominated debt $ — $ 6.8 Amount of Gain or (Loss) Recognized in Income on Derivative Three Months Ended Location of Gain or (Loss) Recognized in Income on Derivative Fair value hedges 2019 2018 Foreign currency contracts Other income, net $ 2.1 $ — Amount of Gain or (Loss) Recognized in Income on Derivative Nine Months Ended Location of Gain or (Loss) Recognized in Income on Derivative Fair value hedges 2019 2018 Foreign currency contracts Other income, net $ (2.1 ) $ — Amount of Gain or (Loss) Recognized in Income on Derivative Three Months Ended Location of Gain or (Loss) Recognized in Income on Derivative Derivatives not designated as hedging instruments 2019 2018 Foreign currency contracts Other income, net $ 3.2 $ 5.9 Amount of Gain or (Loss) Recognized in Income on Derivative Nine Months Ended Location of Gain or (Loss) Recognized in Income on Derivative Derivatives not designated as hedging instruments 2019 2018 Foreign currency contracts Other income, net $ 1.7 $ 7.3
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table presents the effect of cash flow hedge accounting on the consolidated condensed statements of operations: Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships Three Months Ended Nine Months Ended Cost of sales Selling, general, and administrative expenses Other Income, net Cost of sales Selling, general, and administrative expenses Other Income, net Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of fair value or cash flow hedges are recorded $ (292.4 ) $ (306.2 ) $ 4.6 $ (828.2 ) $ (895.0 ) $ 7.8 The effects of fair value and cash flow hedging: Gain (loss) on fair value hedging relationships: Foreign currency contracts: Hedged items — — (1.0 ) — — 5.3 Derivatives designated as hedging instruments — — 1.0 — — (5.3 ) Amount excluded from effectiveness testing recognized in earnings based on an amortization approach — — 1.1 — — 3.2 Gain (loss) on cash flow hedging relationships: Foreign currency contracts: Amount of gain (loss) reclassified from accumulated OCI into income $ 12.8 $ 0.6 $ — $ 31.7 $ 1.4 $ — Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 Cost of sales Selling, general, and administrative expenses Cost of sales Selling, general, and administrative expenses Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of fair value or cash flow hedges are recorded $ (224.9 ) $ (269.5 ) $ (704.7 ) $ (800.4 ) The effects of fair value and cash flow hedging: Gain (loss) on cash flow hedging relationships: Foreign currency contracts: Amount of gain (loss) reclassified from accumulated OCI into income $ (4.6 ) $ (0.4 ) $ (18.8 ) $ (2.5 )

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense related to awards issued under the Company's incentive compensation plans for the three and nine months ended September 30, 2019 and 2018 was as follows (in millions): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Cost of sales $ 3.6 $ 2.7 $ 11.5 $ 8.5 Selling, general, and administrative expenses 12.4 11.9 39.4 36.4 Research and development expenses 3.8 2.8 12.0 10.1 Total stock-based compensation expense $ 19.8 $ 17.4 $ 62.9 $ 55.0
Schedule of Weighted-Average Assumptions for Options Granted	The following table includes the weighted-average grant-date fair values of stock options granted during the periods indicated and the related weighted-average assumptions used in the Black-Scholes option pricing model: Option Awards Three Months Ended Nine Months Ended 2019 2018 2019 2018 Average risk-free interest rate 1.8 % 2.8 % 2.3 % 2.9 % Expected dividend yield None None None None Expected volatility 29.7 % 29.2 % 29.6 % 29.1 % Expected term (years) 5.2 5.2 5.1 5.0 Fair value, per option $ 58.07 $ 46.37 $ 54.31 $ 42.44
Schedule of Weighted-Average Assumptions for ESPP Subscriptions Granted	The following table includes the weighted-average grant-date fair values for ESPP subscriptions granted during the periods indicated and the related weighted-average assumptions used in the Black-Scholes option pricing model: ESPP Three Months Ended Nine Months Ended 2019 2018 2019 2018 Average risk-free interest rate 2.0 % 2.2 % 2.4 % 1.7 % Expected dividend yield None None None None Expected volatility 32.0 % 34.3 % 32.4 % 32.8 % Expected term (years) 0.7 0.7 0.6 0.6 Fair value, per share $ 57.31 $ 46.58 $ 49.29 $ 36.53

ACCELERATED SHARE REPURCHASE (T

ACCELERATED SHARE REPURCHASE (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Accelerated Share Repurchases	The following table summarizes the terms of the ASR agreements (dollars and shares in millions, except per share data): Initial Delivery Final Settlement Agreement Date Amount Paid Shares Received Price per Share (a) Value of Shares as % of Contract Value Settlement Date Total Shares Received Average Price per Share (a) April 2018 $ 400.0 2.5 $ 127.36 80 % July 2018 2.8 $ 142.37 May 2019 $ 150.0 0.7 $ 178.66 80 % May 2019 0.8 $ 178.42 May 2019 $ 100.0 0.5 $ 170.02 80 % June 2019 0.6 $ 178.46

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Summary of Activity for Each Component of Accumulated Other Comprehensive Loss	The following table is a summary of activity for each component of " Accumulated Other Comprehensive Loss " for the nine months ended September 30, 2019 (in millions): Foreign Currency Translation Adjustments Unrealized Gain on Hedges Unrealized (Loss) Gain on Available-for-sale Investments Unrealized Pension Costs Total Accumulated Other Comprehensive Loss December 31, 2018 $ (143.6 ) $ 23.6 $ (5.0 ) $ (13.5 ) $ (138.5 ) Other comprehensive (loss) gain before reclassifications (17.6 ) 35.1 7.8 (0.3 ) 25.0 Amounts reclassified from accumulated other comprehensive loss (5.0 ) (31.0 ) 0.3 — (35.7 ) Deferred income tax expense (4.5 ) (0.3 ) (1.8 ) — (6.6 ) September 30, 2019 $ (170.7 ) $ 27.4 $ 1.3 $ (13.8 ) $ (155.8 )
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Loss	The following table provides information about amounts reclassified from " Accumulated Other Comprehensive Loss " (in millions): Three Months Ended Nine Months Ended Affected Line on Consolidated Condensed Statements of Operations Details about Accumulated Other Comprehensive Loss Components 2019 2018 2019 2018 Foreign currency translation adjustments $ 1.7 $ — $ 5.0 $ — Other income, net (0.4 ) — (1.2 ) — Provision for income taxes $ 1.3 $ — $ 3.8 $ — Net of tax Gain on hedges $ 12.8 $ (4.6 ) $ 31.7 $ (18.8 ) Cost of sales 0.6 (0.4 ) 1.4 (2.5 ) Selling, general, and administrative expenses 2.1 — (2.1 ) — Other income, net 15.5 (5.0 ) 31.0 (21.3 ) Total before tax (3.5 ) 1.1 (8.3 ) 5.1 Provision for income taxes $ 12.0 $ (3.9 ) $ 22.7 $ (16.2 ) Net of tax (Loss) gain on available-for-sale investments $ — $ (0.6 ) $ (0.3 ) $ (2.9 ) Other income, net — — — 0.2 Provision for income taxes $ — $ (0.6 ) $ (0.3 ) $ (2.7 ) Net of tax Unrealized pension costs $ — $ — $ — $ (0.6 ) Other income, net — — — 0.1 Provision for income taxes $ — $ — $ — $ (0.5 )

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The table below presents the computation of basic and diluted earnings per share (in millions, except for per share information): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Basic: Net income $ 274.7 $ 225.9 $ 766.7 $ 715.2 Weighted-average shares outstanding 208.2 209.0 208.1 209.5 Basic earnings per share $ 1.32 $ 1.08 $ 3.68 $ 3.41 Diluted: Net income $ 274.7 $ 225.9 $ 766.7 $ 715.2 Weighted-average shares outstanding 208.2 209.0 208.1 209.5 Dilutive effect of stock plans 3.9 4.2 4.0 4.6 Dilutive weighted-average shares outstanding 212.1 213.2 212.1 214.1 Diluted earnings per share $ 1.30 $ 1.06 $ 3.61 $ 3.34

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Information About Reportable Segments and Reconciliation of Segment Net Sales to Consolidated Net Sales and Segment Pre-Tax Income to Consolidated Pre-Tax Income	The table below presents information about Edwards Lifesciences' reportable segments (in millions): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Segment Net Sales United States $ 647.8 $ 518.5 $ 1,835.5 $ 1,510.2 Europe 219.8 191.6 684.3 608.1 Japan 110.0 95.4 322.9 288.4 Rest of World 112.0 96.8 316.5 290.2 Total segment net sales $ 1,089.6 $ 902.3 $ 3,159.2 $ 2,696.9 Segment Operating Income United States $ 447.4 $ 353.0 $ 1,258.3 $ 1,010.5 Europe 111.5 90.9 353.2 295.6 Japan 70.7 55.0 202.8 171.8 Rest of World 36.7 28.3 99.8 89.6 Total segment operating income $ 666.3 $ 527.2 $ 1,914.1 $ 1,567.5 The table below presents reconciliations of segment net sales to consolidated net sales and segment operating income to consolidated pre-tax income (in millions): Three Months Ended Nine Months Ended 2019 2018 2019 2018 Net Sales Reconciliation Segment net sales $ 1,089.6 $ 902.3 $ 3,159.2 $ 2,696.9 Foreign currency 4.4 4.3 14.7 48.2 Consolidated net sales $ 1,094.0 $ 906.6 $ 3,173.9 $ 2,745.1 Pre-tax Income Reconciliation Segment operating income $ 666.3 $ 527.2 $ 1,914.1 $ 1,567.5 Unallocated amounts: Corporate items (384.2 ) (281.0 ) (1,073.1 ) (792.0 ) Special charge (Note 4) — — (24.0 ) — Intellectual property litigation expenses (7.9 ) (7.9 ) (19.5 ) (19.1 ) Change in fair value of contingent consideration liabilities, net 2.3 6.4 (12.4 ) (8.3 ) Foreign currency 17.8 4.2 50.9 5.4 Consolidated operating income 294.3 248.9 836.0 753.5 Non-operating income 7.4 (0.2 ) 15.0 9.7 Consolidated pre-tax income $ 301.7 $ 248.7 $ 851.0 $ 763.2
Enterprise-Wide Information	Enterprise-wide information is based on actual foreign exchange rates used in the Company's consolidated condensed financial statements. Three Months Ended Nine Months Ended 2019 2018 2019 2018 (in millions) Net Sales by Geographic Area United States $ 647.8 $ 518.7 $ 1,835.5 $ 1,510.3 Europe 222.6 201.3 699.0 659.3 Japan 112.9 94.2 324.4 289.5 Rest of World 110.7 92.4 315.0 286.0 $ 1,094.0 $ 906.6 $ 3,173.9 $ 2,745.1 Net Sales by Major Product and Service Area Transcatheter Aortic Valve Replacement $ 700.0 $ 557.1 $ 1,975.4 $ 1,692.2 Transcatheter Mitral and Tricuspid Therapies 9.7 0.7 21.0 2.1 Surgical Structural Heart 204.1 184.6 636.6 554.4 Critical Care 180.2 164.2 540.9 496.4 $ 1,094.0 $ 906.6 $ 3,173.9 $ 2,745.1 September 30, 2019 December 31, 2018 (in millions) Long-lived Tangible Assets by Geographic Area United States $ 791.5 $ 642.1 Europe 73.7 36.6 Japan 23.1 6.7 Rest of World 258.7 214.4 $ 1,147.0 $ 899.8

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease ROU assets	$ 73.3
Lease liabilities	$ 76.5
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease ROU assets		$ 58.7
Lease liabilities		$ 58.7

OTHER CONSOLIDATED FINANCIAL _3

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS - Schedule of Inventory (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Inventories
Raw materials	$ 125.8		$ 125.8		$ 111.5
Work in process	148.6		148.6		144.8
Finished products	336.7		336.7		350.7
Total inventories	611.1		611.1		607
Finished products inventories held on consignment	122.5		122.5		$ 106.5
Inventory write off	26.9	$ 46.2	$ 73.1	$ 0
Out-of-period adjustment	$ 10.3

OTHER CONSOLIDATED FINANCIAL _4

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Accounts payable and accrued liabilities
Accounts payable	$ 135.9	$ 134
Employee compensation and withholdings	262.2	226.1
Taxes payable (Note 14)	18.9	31.3
Property, payroll, and other taxes	43.2	39.5
Research and development accruals	61.2	48.9
Accrued rebates	78	80
Fair value of derivatives	4.5	4.4
Accrued marketing expenses	14.7	22.3
Litigation and insurance reserves	18.9	196.7
Accrued relocation costs	16.7	11.3
Accrued professional services	12.2	11
Accrued realignment reserves	16.4	6.8
Other accrued liabilities	68.9	64.3
Total accounts payable and accrued liabilities	$ 751.7	$ 876.6

OTHER CONSOLIDATED FINANCIAL _5

OTHER CONSOLIDATED FINANCIAL STATEMENT DETAILS - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash paid during the year for:
Income taxes	$ 53.9	$ 227.3
Operating cash flows from operating leases	19.5	0
Non-cash investing and financing transactions:
Fair value of shares issued in payment for contingent consideration liabilities	0	34.3
Right-of-use assets obtained in exchange for new lease liabilities	33.2	0
Capital expenditures accruals	$ 26.4	$ 23.7

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 7.2	$ 20.7
Lease commitments for leases not yet commenced		$ 16.8
Operating leases expense			$ 27	$ 27.3	$ 22.9
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year	1 year
Lease not yet commenced term of contract	6 months	6 months
Maximum
Lessee, Lease, Description [Line Items]
Lease term	22 years	22 years
Lease not yet commenced term of contract	12 years	12 years

LEASES - Assets and Liabilities

LEASES - Assets and Liabilities of Operating Leases (Details) $ in Millions	Sep. 30, 2019USD ($)
Leases [Abstract]
Operating lease ROU assets	$ 73.3
Operating lease liabilities, current portion	24.1
Operating lease liabilities, long-term portion	52.4
Total operating lease liabilities	$ 76.5

LEASES - Future Minimum Rental

LEASES - Future Minimum Rental Payments After Adoption of Topic 842 (Details) $ in Millions	Sep. 30, 2019USD ($)
Leases [Abstract]
2019	$ 6.8
2020	25.2
2021	17.6
2022	12.3
2023	8.9
Thereafter	11.7
Total lease payments	82.5
Imputed interest	(6)
Total lease liabilities	$ 76.5
Weighted-average remaining lease term (in years)	4 years 6 months
Weighted-average discount rate	2.90%

LEASES - Future Minimum Renta_2

LEASES - Future Minimum Rental Payments Prior to Adopting Topic 842 (Details) $ in Millions	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 25.6
2020	21.5
2021	13.5
2022	9.9
2023	6.4
Thereafter	14.3
Total obligations and commitments	$ 91.2

SPECIAL CHARGE (GAIN) Narrative

SPECIAL CHARGE (GAIN) Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Mar. 31, 2018	Mar. 31, 2019
Pension Plan
Restructuring Cost and Reserve [Line Items]
Gain due to settlement	$ 7.1
Early-stage Transcatheter Intellectual Property
Restructuring Cost and Reserve [Line Items]
Acquisition charges		$ 24

INVESTMENTS - Schedule of Inves

INVESTMENTS - Schedule of Investments in Debt Securities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Available-for-sale
Cost	$ 526.2	$ 711.3
Gross Unrealized Gains	3.2	0.4
Gross Unrealized Losses	(0.1)	(5.5)
Fair Value	529.3	706.2
Bank time deposits
Held-to-maturity
Cost	0	20
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	0	20
Commercial paper
Available-for-sale
Cost	10.9	56.7
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	10.9	56.7
U.S. government and agency securities
Available-for-sale
Cost	75.4	79.7
Gross Unrealized Gains	0.6	0.2
Gross Unrealized Losses	0	(0.7)
Fair Value	76	79.2
Foreign government bonds
Available-for-sale
Cost	1.6	1.7
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	1.6	1.7
Asset-backed securities
Available-for-sale
Cost	80.7	110.6
Gross Unrealized Gains	0.6	0.1
Gross Unrealized Losses	0	(0.5)
Fair Value	81.3	110.2
Corporate debt securities
Available-for-sale
Cost	354.9	459.8
Gross Unrealized Gains	2	0.1
Gross Unrealized Losses	(0.1)	(4.3)
Fair Value	356.8	455.6
Municipal securities
Available-for-sale
Cost	2.7	2.8
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 2.7	$ 2.8

INVESTMENTS - Schedule of Cost

INVESTMENTS - Schedule of Cost and Fair Value of Investments in Debt Securities, By Contractual Maturity (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Cost
Due in 1 year or less	$ 169.9
Due after 1 year through 5 years	292.4
Instruments not due at a single maturity date	63.9
Cost	526.2	$ 711.3
Fair Value
Due in 1 year or less	170.3
Due after 1 year through 5 years	294.5
Instruments not due at a single maturity date	64.5
Fair Value	$ 529.3	$ 706.2

INVESTMENTS - Schedule of Inv_2

INVESTMENTS - Schedule of Investments in Continuous Loss Position (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Fair value, less than twelve months		$ 182.1
Gross unrealized losses, less than twelve months		(1.2)
Fair value, twelve months or greater		321.5
Gross unrealized losses, twelve months or greater		(4.3)
Fair value, total		503.6
Gross unrealized losses, total		(5.5)
U.S. government and agency securities
Debt Securities, Available-for-sale [Line Items]
Fair value, less than twelve months		0.7
Gross unrealized losses, less than twelve months		(0.1)
Fair value, twelve months or greater		56.5
Gross unrealized losses, twelve months or greater		(0.6)
Fair value, total		57.2
Gross unrealized losses, total		(0.7)
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair value, less than twelve months		4
Gross unrealized losses, less than twelve months		0
Fair value, twelve months or greater		61.3
Gross unrealized losses, twelve months or greater		(0.5)
Fair value, total		65.3
Gross unrealized losses, total		(0.5)
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Fair value, less than twelve months	$ 0	177.4
Gross unrealized losses, less than twelve months	0	(1.1)
Fair value, twelve months or greater	41.4	203.7
Gross unrealized losses, twelve months or greater	(0.1)	(3.2)
Fair value, total	41.4	381.1
Gross unrealized losses, total	$ (0.1)	$ (4.3)

INVESTMENTS - Schedule of Inv_3

INVESTMENTS - Schedule of Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Equity method investments
Cost	$ 10.7	$ 9.1
Equity in losses	(3.8)	(4.7)
Carrying value of equity method investments	6.9	4.4
Equity securities
Carrying value of non-marketable equity securities	20.1	18.1
Total investments in unconsolidated affiliates	$ 27	$ 22.5

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Upward price adjustment during period	$ 0.3	$ 0.3
Other income, net
Debt and Equity Securities, FV-NI [Line Items]
Increase in non-marketable equity securities due to observable price changes	2	2
Decrease in non-marketable equity securities due to observable price changes	$ 1.9	$ 1.9

ACQUISITION - Narrative (Detail

ACQUISITION - Narrative (Details) - CAS Medical Systems, Inc. - USD ($) $ / shares in Units, $ in Millions	Apr. 18, 2019	Feb. 11, 2019	Sep. 30, 2019
Business Acquisition [Line Items]
Consideration per share to be transferred (in dollars per share)		$ 2.45
Acquisition price, subject to certain adjustments		$ 100
Cash purchase price	$ 100.8
Acquisition-related costs			$ 2
Developed technology
Business Acquisition [Line Items]
Weighted average useful life	14 years
Customer relationships
Business Acquisition [Line Items]
Weighted average useful life	10 years

ACQUISITION - Summary of Fair V

ACQUISITION - Summary of Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Apr. 18, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 1,156.6		$ 1,112.2
Total purchase price, net of cash acquired		$ 100.2	$ 0
CAS Medical Systems, Inc.
Business Acquisition [Line Items]
Current assets	$ 6.1
Property and equipment, net	1.3
Goodwill	64.4
Deferred tax assets	2.2
Liabilities assumed	(17.9)
Total purchase price	100.8
Less: cash acquired	(0.6)
Total purchase price, net of cash acquired	100.2
CAS Medical Systems, Inc. | Developed technology
Business Acquisition [Line Items]
Intangible assets	35.9
CAS Medical Systems, Inc. | Customer relationships
Business Acquisition [Line Items]
Intangible assets	$ 8.8

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Millions	Sep. 30, 2019USD ($)
Level 2
Financial instruments
Notes payable fair value disclosure	$ 676.9
Discount Rate | Level 3 | Obligations | Minimum
Financial instruments
Contingent consideration liability measurement input	0.019
Discount Rate | Level 3 | Obligations | Maximum
Financial instruments
Contingent consideration liability measurement input	0.030
Probability of Milestone Achievement | Level 3 | Obligations | Minimum
Financial instruments
Contingent consideration liability measurement input	0.434
Probability of Milestone Achievement | Level 3 | Obligations | Maximum
Financial instruments
Contingent consideration liability measurement input	0.984
Volatility of Future Revenue | Level 3 | Obligations
Financial instruments
Contingent consideration liability measurement input	0.450

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Financial Instruments Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Assets
Available-for-sale investments	$ 529.3	$ 706.2
Corporate debt securities
Assets
Available-for-sale investments	356.8	455.6
Asset-backed securities
Assets
Available-for-sale investments	81.3	110.2
U.S. government and agency securities
Assets
Available-for-sale investments	76	79.2
Foreign government bonds
Assets
Available-for-sale investments	1.6	1.7
Commercial paper
Assets
Available-for-sale investments	10.9	56.7
Municipal securities
Assets
Available-for-sale investments	2.7	2.8
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis
Assets
Cash equivalents	314.6	11.8
Investments held for deferred compensation plans	81.4	67.6
Derivatives	48.5	29.9
Assets	973.8	815.5
Liabilities
Derivatives	4.4	5.2
Deferred compensation plans	82	68.5
Contingent consideration liabilities	191	178.6
Liabilities	277.4	252.3
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Corporate debt securities
Assets
Available-for-sale investments	356.8	455.6
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Asset-backed securities
Assets
Available-for-sale investments	81.3	110.2
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | U.S. government and agency securities
Assets
Available-for-sale investments	76	79.2
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Foreign government bonds
Assets
Available-for-sale investments	1.6	1.7
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Commercial paper
Assets
Available-for-sale investments	10.9	56.7
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Municipal securities
Assets
Available-for-sale investments	2.7	2.8
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1
Assets
Cash equivalents	248.1	0
Investments held for deferred compensation plans	81.4	67.6
Derivatives	0	0
Assets	375	87.2
Liabilities
Derivatives	0	0
Deferred compensation plans	82	68.5
Contingent consideration liabilities	0	0
Liabilities	82	68.5
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | Corporate debt securities
Assets
Available-for-sale investments	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | Asset-backed securities
Assets
Available-for-sale investments	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | U.S. government and agency securities
Assets
Available-for-sale investments	45.5	19.6
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | Foreign government bonds
Assets
Available-for-sale investments	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | Commercial paper
Assets
Available-for-sale investments	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 1 | Municipal securities
Assets
Available-for-sale investments	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2
Assets
Cash equivalents	66.5	11.8
Investments held for deferred compensation plans	0	0
Derivatives	48.5	29.9
Assets	598.8	728.3
Liabilities
Derivatives	4.4	5.2
Deferred compensation plans	0	0
Contingent consideration liabilities	0	0
Liabilities	4.4	5.2
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | Corporate debt securities
Assets
Available-for-sale investments	356.8	455.6
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | Asset-backed securities
Assets
Available-for-sale investments	81.3	110.2
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | U.S. government and agency securities
Assets
Available-for-sale investments	30.5	59.6
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | Foreign government bonds
Assets
Available-for-sale investments	1.6	1.7
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | Commercial paper
Assets
Available-for-sale investments	10.9	56.7
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 2 | Municipal securities
Assets
Available-for-sale investments	2.7	2.8
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3
Assets
Cash equivalents	0	0
Investments held for deferred compensation plans	0	0
Derivatives	0	0
Assets	0	0
Liabilities
Derivatives	0	0
Deferred compensation plans	0	0
Contingent consideration liabilities	191	178.6
Liabilities	191	178.6
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | Corporate debt securities
Assets
Available-for-sale investments	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | Asset-backed securities
Assets
Available-for-sale investments	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | U.S. government and agency securities
Assets
Available-for-sale investments	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | Foreign government bonds
Assets
Available-for-sale investments	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | Commercial paper
Assets
Available-for-sale investments	0	0
Estimate of Fair Value Measurement | Fair Value on a Recurring Basis | Level 3 | Municipal securities
Assets
Available-for-sale investments	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Sum_2

FAIR VALUE MEASUREMENTS - Summary of Changes in Fair Value of Contingent Consideration Obligation (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning balance	$ 178.6
Changes in fair value	12.4
Ending balance	$ 191

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Summary of Derivative Financial Instruments Used to Manage Currency Exchange Rate Risk and Interest Rate Risk (Details) - Derivatives designated as hedging instruments - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Foreign currency forward exchange contracts
Derivative Financial Instruments
Derivative notional amount	$ 1,247.7	$ 1,378.2
Cross currency swap contracts
Derivative Financial Instruments
Derivative notional amount	$ 300	$ 300

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) € in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019EUR (€)	Dec. 31, 2018USD ($)	Jun. 30, 2018EUR (€)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Changes due to currency rate movements and expenses expected to occur, maximum term	13 months
Derivative Financial Instruments
Gain expected to be reclassified as earnings	$ 9.4
Derivatives designated as hedging instruments | Cross currency swap contracts
Derivative Financial Instruments
Derivative liability, fair value	300		$ 300
Net investment hedges | Derivatives designated as hedging instruments | Foreign currency denominated debt
Derivative Financial Instruments
Derivative liability, fair value | €				€ 370
Net investment hedges | Derivatives designated as hedging instruments | Cross currency swap contracts
Derivative Financial Instruments
Derivative liability, fair value	$ 300	€ 257.2

DERIVATIVE INSTRUMENTS AND HE_5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Location and Fair Value Amounts of Derivative Instruments Reported in Consolidated Condensed Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Foreign currency contracts
Assets
Fair value of derivative assets	$ 29.3	$ 29.1
Liabilities
Fair value of derivative liabilities	4.4	5.2
Cross currency swap contracts
Assets
Fair value of derivative assets	19.2	0.8
Derivatives designated as hedging instruments | Foreign currency contracts | Other current assets
Assets
Fair value of derivative assets	27.7	29.1
Derivatives designated as hedging instruments | Foreign currency contracts | Other assets
Assets
Fair value of derivative assets	1.6	0
Derivatives designated as hedging instruments | Foreign currency contracts | Accounts payable and accrued liabilities
Liabilities
Fair value of derivative liabilities	4.4	4.4
Derivatives designated as hedging instruments | Foreign currency contracts | Other long-term liabilities
Liabilities
Fair value of derivative liabilities	0	0.8
Derivatives designated as hedging instruments | Cross currency swap contracts | Other assets
Assets
Fair value of derivative assets	$ 19.2	$ 0.8

DERIVATIVE INSTRUMENTS AND HE_6

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Effect of Master-Netting Agreements and Rights of Offset, Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Foreign currency contracts
Derivative assets
Gross Amounts	$ 29.3	$ 29.1
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts Presented in the Consolidated Balance Sheet	29.3	29.1
Gross Amounts Not Offset in the Consolidated Balance Sheet
Financial Instruments	(4)	(3.6)
Cash Collateral Received	0	0
Net Amount	25.3	25.5
Derivative liabilities
Gross Amounts	4.4	5.2
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts Presented in the Consolidated Balance Sheet	4.4	5.2
Gross Amounts Not Offset in the Consolidated Balance Sheet
Financial Instruments	(4)	(3.6)
Cash Collateral Received	0	0
Net Amount	0.4	1.6
Cross currency swap contracts
Derivative assets
Gross Amounts	19.2	0.8
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts Presented in the Consolidated Balance Sheet	19.2	0.8
Gross Amounts Not Offset in the Consolidated Balance Sheet
Financial Instruments	0	0
Cash Collateral Received	0	0
Net Amount	$ 19.2	$ 0.8

DERIVATIVE INSTRUMENTS AND HE_7

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Effect of Derivative Instruments on Consolidated Condensed Statements of Operations and Consolidated Condensed Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Foreign currency contracts | Derivatives not designated as hedging instruments | Other income, net
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in Income on Derivative	$ 3.2	$ 5.9	$ 1.7	$ 7.3
Cash flow hedges | Foreign currency contracts | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in OCI on Derivative	22.1	12.1	32.9	28.2
Cash flow hedges | Foreign currency contracts | Derivatives designated as hedging instruments | Cost of sales
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income	12.8	(4.6)	31.7	(18.8)
Cash flow hedges | Foreign currency contracts | Derivatives designated as hedging instruments | Selling, general, and administrative expenses
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income	0.6	(0.4)	1.4	(2.5)
Net investment hedges | Cross currency swap contracts | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in OCI on Derivative	16.3	(0.5)	18.4	(10.5)
Net investment hedges | Cross currency swap contracts | Derivatives designated as hedging instruments | Interest (income) expense, net
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	1.7	1.6	5	1.8
Net investment hedges | Foreign currency denominated debt | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in OCI on Derivative			0	6.8
Fair value hedges | Foreign currency contracts | Derivatives designated as hedging instruments | Other income, net
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in Income on Derivative	$ 2.1	$ 0	$ (2.1)	$ 0

DERIVATIVE INSTRUMENTS AND HE_8

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Cash Flow Hedge Effects on Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss)
Cost of sales	$ (292.4)	$ (224.9)	$ (828.2)	$ (704.7)
Selling, general, and administrative expenses	(306.2)	(269.5)	(895)	(800.4)
Other income, net	(4.6)	(0.3)	(7.8)	(2.3)
Foreign currency contracts | Cost of sales
Gain (loss) on fair value hedging relationships:
Hedged items	0		0
Amount excluded from effectiveness testing recognized in earnings based on an amortization approach	0		0
Gain (loss) on cash flow hedging relationships:
Amount of gain (loss) reclassified from accumulated OCI into income	12.8	(4.6)	31.7	(18.8)
Foreign currency contracts | Cost of sales | Derivatives designated as hedging instruments
Gain (loss) on fair value hedging relationships:
Derivatives designated as hedging instruments	0		0
Foreign currency contracts | Selling, general, and administrative expenses
Gain (loss) on fair value hedging relationships:
Hedged items	0		0
Amount excluded from effectiveness testing recognized in earnings based on an amortization approach	0		0
Gain (loss) on cash flow hedging relationships:
Amount of gain (loss) reclassified from accumulated OCI into income	0.6	$ (0.4)	1.4	$ (2.5)
Foreign currency contracts | Selling, general, and administrative expenses | Derivatives designated as hedging instruments
Gain (loss) on fair value hedging relationships:
Derivatives designated as hedging instruments	0		0
Foreign currency contracts | Other Income, net
Gain (loss) on fair value hedging relationships:
Hedged items	(1)		5.3
Amount excluded from effectiveness testing recognized in earnings based on an amortization approach	1.1		3.2
Gain (loss) on cash flow hedging relationships:
Amount of gain (loss) reclassified from accumulated OCI into income	0		0
Foreign currency contracts | Other Income, net | Derivatives designated as hedging instruments
Gain (loss) on fair value hedging relationships:
Derivatives designated as hedging instruments	$ 1		$ (5.3)

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Allocation of stock-based compensation expense
Total stock-based compensation expense	$ 19.8	$ 17.4	$ 62.9	$ 55
Cost of sales
Allocation of stock-based compensation expense
Total stock-based compensation expense	3.6	2.7	11.5	8.5
Selling, general, and administrative expenses
Allocation of stock-based compensation expense
Total stock-based compensation expense	12.4	11.9	39.4	36.4
Research and development expenses
Allocation of stock-based compensation expense
Total stock-based compensation expense	$ 3.8	$ 2.8	$ 12	$ 10.1

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement [Abstract]
Total remaining unrecognized compensation cost	$ 143.3		$ 143.3
Unrecognized compensation cost, recognition period			32 months
Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)			800
Weighted average exercise price (in dollars per share)			$ 178.81
Average risk-free interest rate	1.80%	2.80%	2.30%	2.90%
Expected volatility (as a percent)	29.70%	29.20%	29.60%	29.10%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted (in shares)			200
Weighted average grant date fair value (in dollars per share)			$ 179.85
Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted (in shares)			33
Weighted average grant date fair value (in dollars per share)			$ 193.95
Award vesting period			3 years
Average risk-free interest rate			2.20%	2.70%
Expected volatility (as a percent)			29.40%	29.70%
Minimum | Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares (as a percent)			0.00%
Maximum | Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares (as a percent)			175.00%

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of Weighted-Average Assumptions for Options and ESPP Subscriptions Granted Granted (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free interest rate	1.80%	2.80%	2.30%	2.90%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Expected volatility (as a percent)	29.70%	29.20%	29.60%	29.10%
Expected term	5 years 2 months 12 days	5 years 2 months 12 days	5 years 1 month 6 days	5 years
Fair value, per option (in dollars per share)	$ 58.07	$ 46.37	$ 54.31	$ 42.44
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free interest rate	2.00%	2.20%	2.40%	1.70%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Expected volatility (as a percent)	32.00%	34.30%	32.40%	32.80%
Expected term	21 days	21 days	18 days	18 days
Fair value, per option (in dollars per share)	$ 57.31	$ 46.58	$ 49.29	$ 36.53

ACCELERATED SHARE REPURCHASE -

ACCELERATED SHARE REPURCHASE - Schedule of Accelerated Share Repurchases (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended
	Jun. 30, 2019	May 31, 2019	Jul. 31, 2018	Apr. 30, 2018
April 2018 Stock Repurchase Program
Class of Stock [Line Items]
Authorized repurchase amount				$ 400,000,000
Initial delivery of treasury stock (in shares)				2.5
Average cost per share of shares acquired (in dollars per share)				$ 127.36
Value of shares repurchased as percentage of contract				80.00%
July 2018 Stock Repurchase Program
Class of Stock [Line Items]
Initial delivery of treasury stock (in shares)			2.8
Final price per share of repurchased shares (in dollars per share)			$ 142.37
Initial Delivery of Shares Settled May 2019
Class of Stock [Line Items]
Authorized repurchase amount		$ 150,000,000
Initial delivery of treasury stock (in shares)		0.7
Average cost per share of shares acquired (in dollars per share)		$ 178.66
Value of shares repurchased as percentage of contract		80.00%
May 2019 Stock Repurchase Program
Class of Stock [Line Items]
Initial delivery of treasury stock (in shares)		0.8
Final price per share of repurchased shares (in dollars per share)		$ 178.42
Initial Delivery of Shares Settled June 2019
Class of Stock [Line Items]
Authorized repurchase amount		$ 100,000,000
Initial delivery of treasury stock (in shares)		0.5
Average cost per share of shares acquired (in dollars per share)		$ 170.02
Value of shares repurchased as percentage of contract		80.00%
June 2019 Stock Repurchase Program
Class of Stock [Line Items]
Initial delivery of treasury stock (in shares)	0.6
Final price per share of repurchased shares (in dollars per share)	$ 178.46

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	9 Months Ended
	Sep. 30, 2019lawsuit
Commitments and Contingencies Disclosure [Abstract]
Number of lawsuits that if settled could have a material adverse impact on net income or cash flows	1

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary of Activity for Each Component of Accumulated Other Comprehensive Loss (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
AOCI Attributable to Parent, Net of Tax
Beginning balance	$ 3,140.4
Other comprehensive (loss) gain before reclassifications	25
Amounts reclassified from accumulated other comprehensive loss	(35.7)
Deferred income tax expense	(6.6)
Ending balance	3,814.8
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax
Beginning balance	(143.6)
Other comprehensive (loss) gain before reclassifications	(17.6)
Amounts reclassified from accumulated other comprehensive loss	(5)
Deferred income tax expense	(4.5)
Ending balance	(170.7)
Unrealized Gain on Hedges
AOCI Attributable to Parent, Net of Tax
Beginning balance	23.6
Other comprehensive (loss) gain before reclassifications	35.1
Amounts reclassified from accumulated other comprehensive loss	(31)
Deferred income tax expense	(0.3)
Ending balance	27.4
Unrealized (Loss) Gain on Available-for-sale Investments
AOCI Attributable to Parent, Net of Tax
Beginning balance	(5)
Other comprehensive (loss) gain before reclassifications	7.8
Amounts reclassified from accumulated other comprehensive loss	0.3
Deferred income tax expense	(1.8)
Ending balance	1.3
Unrealized Pension Costs
AOCI Attributable to Parent, Net of Tax
Beginning balance	(13.5)
Other comprehensive (loss) gain before reclassifications	(0.3)
Amounts reclassified from accumulated other comprehensive loss	0
Deferred income tax expense	0
Ending balance	(13.8)
Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax
Beginning balance	(138.5)
Ending balance	$ (155.8)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Affected Line on Consolidated Condensed Statements of Operations
Cost of sales	$ (292.4)			$ (224.9)			$ (828.2)	$ (704.7)
Selling, general, and administrative expenses	(306.2)			(269.5)			(895)	(800.4)
Total before tax	301.7			248.7			851	763.2
Provision for income taxes	(27)			(22.8)			(84.3)	(48)
Other income, net	4.6			0.3			7.8	2.3
Net income	274.7	$ 242.3	$ 249.7	225.9	$ 282.7	$ 206.6	766.7	715.2
Amount Reclassified from Accumulated Other Comprehensive Loss | Foreign Currency Translation Adjustments
Affected Line on Consolidated Condensed Statements of Operations
Provision for income taxes	(0.4)			0			(1.2)	0
Other income, net	1.7			0			5	0
Net income	1.3			0			3.8	0
Amount Reclassified from Accumulated Other Comprehensive Loss | Unrealized Gain on Hedges
Affected Line on Consolidated Condensed Statements of Operations
Cost of sales	12.8			(4.6)			31.7	(18.8)
Selling, general, and administrative expenses	0.6			(0.4)			1.4	(2.5)
Other income, net	2.1			0			(2.1)	0
Total before tax	15.5			(5)			31	(21.3)
Provision for income taxes	(3.5)			1.1			(8.3)	5.1
Net income	12			(3.9)			22.7	(16.2)
Amount Reclassified from Accumulated Other Comprehensive Loss | (Loss) gain on available-for-sale investments
Affected Line on Consolidated Condensed Statements of Operations
Provision for income taxes	0			0			0	0.2
Other income, net	0			(0.6)			(0.3)	(2.9)
Net income	0			(0.6)			(0.3)	(2.7)
Amount Reclassified from Accumulated Other Comprehensive Loss | Unrealized Pension Costs
Affected Line on Consolidated Condensed Statements of Operations
Provision for income taxes	0			0			0	0.1
Other income, net	0			0			0	(0.6)
Net income	$ 0			$ 0			$ 0	$ (0.5)

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Basic:
Net income	$ 274.7	$ 242.3	$ 249.7	$ 225.9	$ 282.7	$ 206.6	$ 766.7	$ 715.2
Weighted-average shares outstanding (in shares)	208.2			209			208.1	209.5
Basic earnings per share (in dollars per share)	$ 1.32			$ 1.08			$ 3.68	$ 3.41
Diluted:
Net income	$ 274.7	$ 242.3	$ 249.7	$ 225.9	$ 282.7	$ 206.6	$ 766.7	$ 715.2
Weighted-average shares outstanding (in shares)	208.2			209			208.1	209.5
Dilutive effect of stock plans (in shares)	3.9			4.2			4	4.6
Dilutive weighted-average shares outstanding (in shares)	212.1			213.2			212.1	214.1
Diluted earnings per share (in dollars per share)	$ 1.30			$ 1.06			$ 3.61	$ 3.34

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Stock compensation plan
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of earnings per share (in shares)	0.8	1	0.6	1.1

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate	8.90%	9.20%	9.90%	6.30%
Transition tax				$ 15.8
Tax settlement		$ 36.1		36.1
Adjustment to tax form related restructuring expense		9.1		9.1
Tax expense (benefit) from employee share-based compensation	$ (19.6)	$ (12.9)	$ (56.2)	$ (44.3)
Liability for income taxes associated with uncertain tax positions	186.2		186.2		$ 150.7
Decrease in unrecognized tax benefits is reasonably possible	61.7		61.7		42.7
Net amounts that would favorably affect effective tax rate	$ 124.5		$ 124.5		$ 108

SEGMENT INFORMATION - Informati

SEGMENT INFORMATION - Information About Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Net Sales
Net sales	$ 1,094	$ 906.6	$ 3,173.9	$ 2,745.1
Segment Operating Income
Consolidated pre-tax income	301.7	248.7	851	763.2
Operating segments
Segment Net Sales
Net sales	1,089.6	902.3	3,159.2	2,696.9
Segment Operating Income
Consolidated pre-tax income	666.3	527.2	1,914.1	1,567.5
Operating segments | United States
Segment Net Sales
Net sales	647.8	518.5	1,835.5	1,510.2
Segment Operating Income
Consolidated pre-tax income	447.4	353	1,258.3	1,010.5
Operating segments | Europe
Segment Net Sales
Net sales	219.8	191.6	684.3	608.1
Segment Operating Income
Consolidated pre-tax income	111.5	90.9	353.2	295.6
Operating segments | Japan
Segment Net Sales
Net sales	110	95.4	322.9	288.4
Segment Operating Income
Consolidated pre-tax income	70.7	55	202.8	171.8
Operating segments | Rest of World
Segment Net Sales
Net sales	112	96.8	316.5	290.2
Segment Operating Income
Consolidated pre-tax income	$ 36.7	$ 28.3	$ 99.8	$ 89.6

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliations of Segment Net Sales to Consolidated Net Sales and Segment Pre-Tax Income to Consolidated Pre-Tax Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net Sales Reconciliation
Net sales	$ 1,094	$ 906.6	$ 3,173.9	$ 2,745.1
Pre-tax Income Reconciliation
Operating income	294.3	248.9	836	753.5
Unallocated amounts:
Special charge (Note 4)	0		(24)
Change in fair value of contingent consideration liabilities, net	2.3	6.4	(12.4)	(8.3)
Consolidated pre-tax income	301.7	248.7	851	763.2
Operating segments
Net Sales Reconciliation
Net sales	1,089.6	902.3	3,159.2	2,696.9
Pre-tax Income Reconciliation
Operating income	666.3	527.2	1,914.1	1,567.5
Unallocated amounts:
Consolidated pre-tax income	666.3	527.2	1,914.1	1,567.5
Corporate items
Unallocated amounts:
Corporate items	(384.2)	(281)	(1,073.1)	(792)
Reconciling items
Net Sales Reconciliation
Net sales	4.4	4.3	14.7	48.2
Unallocated amounts:
Special charge (Note 4)	0	0	(24)	0
Intellectual property litigation expenses	(7.9)	(7.9)	(19.5)	(19.1)
Foreign currency	17.8	4.2	50.9	5.4
Non-operating income	$ 7.4	$ (0.2)	$ 15	$ 9.7

SEGMENT INFORMATION - Enterpris

SEGMENT INFORMATION - Enterprise-Wide Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Enterprise-Wide Information
Net sales	$ 1,094	$ 906.6	$ 3,173.9	$ 2,745.1
Long-lived Tangible Assets by Geographic Area
Long-lived tangible assets	1,147		1,147		$ 899.8
Transcatheter Aortic Valve Replacement
Enterprise-Wide Information
Net sales	700	557.1	1,975.4	1,692.2
Transcatheter Mitral and Tricuspid Therapies
Enterprise-Wide Information
Net sales	9.7	0.7	21	2.1
Surgical Structural Heart
Enterprise-Wide Information
Net sales	204.1	184.6	636.6	554.4
Critical Care
Enterprise-Wide Information
Net sales	180.2	164.2	540.9	496.4
United States
Enterprise-Wide Information
Net sales	647.8	518.7	1,835.5	1,510.3
Long-lived Tangible Assets by Geographic Area
Long-lived tangible assets	791.5		791.5		642.1
Europe
Enterprise-Wide Information
Net sales	222.6	201.3	699	659.3
Long-lived Tangible Assets by Geographic Area
Long-lived tangible assets	73.7		73.7		36.6
Japan
Enterprise-Wide Information
Net sales	112.9	94.2	324.4	289.5
Long-lived Tangible Assets by Geographic Area
Long-lived tangible assets	23.1		23.1		6.7
Rest of World
Enterprise-Wide Information
Net sales	110.7	$ 92.4	315	$ 286
Long-lived Tangible Assets by Geographic Area
Long-lived tangible assets	$ 258.7		$ 258.7		$ 214.4

Uncategorized Items - ew10-qq32

Label	Element	Value
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 2,958,800,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	2,600,000
Treasury Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	(252,100,000)
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	1,972,500,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	10,400,000
AOCI Attributable to Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	(140,500,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(7,800,000)
Common Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	212,000,000
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 1,166,900,000