Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of Stockholders Equity

Changes in shareholders' equity for the six months ended June 30, 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
Net income (loss)	—	—		—		(6.5)		—		—		(6.5)		0.1
Other comprehensive income	—	—		—		—		22.7		—		22.7		0.6
Dividends ($0.26 per share)	—	—		—		(5.4)		—		—		(5.4)		—
Incentive plan activity	—	—		1.5		—		—		—		1.5		—
Balance, June 30, 2020	20.5	$	0.2	$	287.8	$	833.6	$	(36.2)	$	(1.2)	$	1,084.2	$	29.7

Changes in shareholders' equity for the six months ended June 30, 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
Net income	—	—		—		23.9		—		—		23.9
Other comprehensive loss	—	—		—		—		(2.6)		—		(2.6)
Dividends ($0.25 per share)	—	—		—		(5.2)		—		—		(5.2)
Share repurchases	(0.2)	—		(12.6)		—		—		—		(12.6)
Incentive plan activity	—	—		1.6		—		—		—		1.6
Balance, June 30, 2019	20.6	$	0.2	$	288.8	$	641.3	$	(52.8)	$	(1.3)	$	876.2

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	%