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Shareholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Schedule of Stockholders Equity
Changes in shareholders' equity for the three months ended March 31, 2020 are as follows:
 
Common Stock
 
Additional Paid-in Capital
 
Retained Earnings
 
Accumulated Other Comprehensive Loss
 
Treasury Stock
 
Total Permanent Shareholders' Equity
 
Redeemable non-controlling interest
(in millions, except per share data)
Shares
 
Amount
 
 
 
 
 
 
Balance, December 31, 2019
20.6

 
$
0.2

 
$
292.1

 
$
632.2

 
$
(36.4
)
 
$
(1.2
)
 
$
886.9

 
$
28.0

Adoption of new accounting standard
—

 
—

 
—

 
(0.1
)
 
—

 
—

 
(0.1
)
 
—

Net income
—

 
—

 
—

 
218.7

 
—

 
—

 
218.7

 
0.1

Other comprehensive income (loss)
—

 
—

 
—

 
—

 
(22.5
)
 
—

 
(22.5
)
 
0.9

Dividends ($0.26 per share)
—

 
—

 
—

 
(5.3
)
 
—

 
—

 
(5.3
)
 
—

Share repurchases
(0.1
)
 
—

 
(5.3
)
 
—

 
—

 
—

 
(5.3
)
 
—

Incentive plan activity
—

 
—

 
1.0

 
—

 
—

 
—

 
1.0

 
—

Other
—

 
—

 
(1.5
)
 
—

 
—

 
—

 
(1.5
)
 
—

Balance, March 31, 2020
20.5

 
$
0.2

 
$
286.3

 
$
845.5

 
$
(58.9
)
 
$
(1.2
)
 
$
1,071.9

 
$
29.0

Changes in shareholders' equity for the three months ended March 31, 2019 are as follows:
 
Common Stock
 
Additional Paid-in Capital
 
Retained Earnings
 
Accumulated Other Comprehensive Loss
 
Treasury Stock
 
Total Shareholders' Equity
(in millions, except per share data)
Shares
 
Amount
 
 
 
 
 
Balance, December 31, 2018
20.7

 
$
0.2

 
$
301.0

 
$
603.3

 
$
(45.5
)
 
$
(1.3
)
 
$
857.7

Adoption of new accounting standard
—

 
—

 
—

 
11.5

 
(11.5
)
 
—

 
—

Net income
—

 
—

 
—

 
13.1

 
—

 
—

 
13.1

Other comprehensive income
—

 
—

 
—

 
—

 
6.8

 
—

 
6.8

Dividends ($0.25 per share)
—

 
—

 
—

 
(5.3
)
 
—

 
—

 
(5.3
)
Share repurchases
—

 
—

 
(2.4
)
 
—

 
—

 
—

 
(2.4
)
Incentive plan activity
0.1

 
—

 
1.2

 
—

 
—

 
—

 
1.2

Balance, March 31, 2019
20.8

 
0.2

 
299.8

 
622.6

 
(50.2
)
 
(1.3
)
 
871.1
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The option awards issued in 2020 had a fair value of $13.64 per share at their grant date. The following assumptions were used to estimate the fair value of the 2020 option awards:
Average expected term
6 years

Expected volatility
31.53
%
Risk-free interest rate
1.17
%
Expected dividend yield
1.93
%