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Selected Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Data
 
 
2019
 
2018
(in millions except per share amounts)
 
Q1
 
Q2
 
Q3
 
Q4
 
Q1
 
Q2
 
Q3
 
Q4
Revenue
 
$
258.9

 
$
273.9

 
$
313.8

 
$
332.4

 
$
243.5

 
$
252.4

 
$
261.3

(3) 
$
262.7

Total operating expense
 
209.4

 
223.1

 
264.2

 
292.7

 
196.0

 
198.8

 
195.9

 
213.4

Operating income
 
49.5

 
50.8

 
49.6

 
39.7

 
47.5

 
53.6

 
65.4

 
49.3

Non-operating (expense) income, net
 
(3.3
)
 
2.3

 
13.9

(1) 
(4.0
)
 
9.3

(2) 
1.4

 
7.3

 
(0.9
)
Income before income taxes and equity in net (loss) income of unconsolidated entities
 
46.2

 
53.1

 
63.5

 
35.7

 
56.8

 
55.0

 
72.7

 
48.4

Equity in net (loss) income of unconsolidated entities
 
(1.5
)
 
0.7

 
(1.1
)
 
1.0

 
(1.5
)
 
(0.4
)
 
0.3

 
(0.5
)
Income tax expense
 
11.5

 
11.7

 
13.3

 
9.1

 
13.4

 
12.8

 
16.1

 
5.5

Consolidated net income
 
$
33.2

 
$
42.1

 
$
49.1

 
$
27.6

 
$
41.9

 
$
41.8

 
$
56.9

 
$
42.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.78

 
$
0.99

 
$
1.15

 
$
0.64

 
$
0.99

 
$
0.98

 
$
1.33

 
$
0.99

Diluted

$
0.77

 
$
0.98

 
$
1.14

 
$
0.64

 
$
0.98

 
$
0.97

 
$
1.32

 
$
0.99

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends per common share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends declared per common share
 
$
0.28

 
$
0.28

 
$
—

 
$
0.58

 
$
0.25

 
$
0.25

 
$
—

 
$
0.53

Dividends paid per common share
 
$
0.28

 
$
0.28

 
$
0.28

 
$
0.28

 
$
0.25

 
$
0.25

 
$
0.25

 
$
0.25

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average shares outstanding:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
42.6

 
42.7

 
42.8

 
42.8

 
42.5

 
42.6

 
42.6

 
42.7

Diluted
 
43.0

 
43.1

 
43.2

 
43.3

 
42.9

 
43.0

 
43.1

 
43.1


(1) Non-operating income for the third quarter of 2019 includes a $19.5 million gain related to the sale of an equity method investment.
(2) Non-operating income in first quarter of 2018 includes a $10.5 million gain related to the sale of our 15(c) board consulting services product line.
(3) Revenue in the third quarter of 2018 includes a $10.5 million revenue benefit related to an amended license agreement.