Guarantor Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2019

Guarantor Subsidiaries [Abstract]

Consolidating Balance Sheet

CONSOLIDATING BALANCE SHEET

(Millions of dollars)	December 31, 2019
Assets	Parent Company			Issuer		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	—		$	279.4	$	0.9		$	—		$	—		$	280.3
Accounts receivable—trade, less allowance for doubtful accounts of $1.2 in 2019	—			173.0		(0.1		)	—			—			172.9
Inventories, at lower of cost or market	—			227.6		—			—			—			227.6
Prepaid expenses and other current assets	—			29.6		0.4			—			—			30.0
Total current assets	—			709.6		1.2			—			—			710.8
Property, plant and equipment, at cost less accumulated depreciation and amortization of $1,079.2 in 2019	—			1,799.1		8.2			—			—			1,807.3
Investments in subsidiaries	2,591.8			143.9		—			—			(2,735.7		)	—
Other assets	—			169.1		—			—			—			169.1
Total assets	$	2,591.8		$	2,821.7	$	9.4		$	—		$	(2,735.7	)	$	2,687.2
Liabilities and Stockholders' Equity
Current liabilities
Current maturities of long-term debt	$	—		$	38.8	$	—		$	—		$	—		$	38.8
Inter-company accounts payable	(0.1		)	196.1		(41.7		)	(154.3		)	—			—
Trade accounts payable and accrued liabilities	—			466.2		—			—			—			466.2
Total current liabilities	(0.1		)	701.1		(41.7		)	(154.3		)	—			505.0
Long-term debt, including capitalized lease obligations	—			999.3		—			—			—			999.3
Deferred income taxes	—			216.7		—			—			—			216.7
Asset retirement obligations	—			32.8		—			—			—			32.8
Deferred credits and other liabilities	—			130.4		—			—			—			130.4
Total liabilities	(0.1		)	2,080.3		(41.7		)	(154.3		)	—			1,884.2
Stockholders' Equity
Preferred Stock, par $0.01 (authorized 20,000,000 shares, none outstanding)	—			—		—			—			—			—
Common Stock, par $0.01 (authorized 200,000,000 shares, 46,767,164 shares issued at December 31, 2019)	0.5			—		0.1			—			(0.1		)	0.5
Treasury stock (16,307,048 shares held at December 31, 2019)	(1,099.8		)	—		—			—			—			(1,099.8		)
Additional paid in capital (APIC)	1,188.8			578.8		52.0			87.5			(1,368.4		)	538.7
Retained earnings	2,502.4			161.9		(1.0		)	66.8			(1,367.2		)	1,362.9
Accumulated other comprehensive income (AOCI)	—			0.7		—			—			—			0.7
Total stockholders' equity	2,591.9			741.4		51.1			154.3			(2,735.7		)	803.0
Total liabilities and stockholders' equity	$	2,591.8		$	2,821.7	$	9.4		$	—		$	(2,735.7	)	$	2,687.2

CONSOLIDATING BALANCE SHEET

(Millions of dollars)	December 31, 2018
Assets	Parent Company			Issuer		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	—		$	184.0	$	0.5		$	—		$	—		$	184.5
Accounts receivable—trade, less allowance for doubtful accounts of $1.1 in 2018	—			138.8		—			—			—			138.8
Inventories, at lower of cost or market	—			221.5		—			—			—			221.5
Prepaid expenses and other current assets	—			25.1		0.2			—			—			25.3
Total current assets	—			569.4		0.7			—			—			570.1
Property, plant and equipment, at cost less accumulated depreciation and amortization of $974.2 in 2018	—			1,745.9		2.3			—			—			1,748.2
Investments in subsidiaries	2,437.0			144.4		—			—			(2,581.4		)	—
Other assets	—			42.5		—			—			—			42.5
Total assets	$	2,437.0		$	2,502.2	$	3.0		$	—		$	(2,581.4	)	$	2,360.8
Liabilities and Stockholders' Equity
Current liabilities
Current maturities of long-term debt	$	—		$	21.2	$	—		$	—		$	—		$	21.2
Inter-company accounts payable	(0.1		)	203.0		(48.6		)	(154.3		)	—			—
Trade accounts payable and accrued liabilities	—			456.9		—			—			—			456.9
Total current liabilities	(0.1		)	681.1		(48.6		)	(154.3		)	—			478.1
Long-term debt, including capitalized lease obligations	—			842.1		—			—			—			842.1
Deferred income taxes	—			192.2		—			—			—			192.2
Asset retirement obligations	—			30.7		—			—			—			30.7
Deferred credits and other liabilities	—			10.4		—			—			—			10.4
Total liabilities	(0.1		)	1,756.5		(48.6		)	(154.3		)	—			1,553.5
Stockholders' Equity
Preferred Stock, par $0.01 (authorized 20,000,000 shares, none outstanding)	—			—		—			—			—			—
Common Stock, par $0.01 (authorized 200,000,000 shares, 46,767,164 shares issued at December 31, 2018)	0.5			—		0.1			—			(0.1		)	0.5
Treasury stock (14,505,681 shares held at December 31, 2018)	(940.3		)	—		—			—			—			(940.3		)
Additional paid in capital (APIC)	1,195.1			572.8		52.0			87.5			(1,368.4		)	539.0
Retained earnings	2,181.8			172.9		(0.5		)	66.8			(1,212.9		)	1,208.1
Accumulated other comprehensive income (AOCI)	—			—		—			—			—			—
Total stockholders' equity	2,437.1			745.7		51.6			154.3			(2,581.4		)	807.3
Total liabilities and stockholders' equity	$	2,437.0		$	2,502.2	$	3.0		$	—		$	(2,581.4	)	$	2,360.8

Consolidating Income Statement

CONSOLIDATING INCOME STATEMENT AND COMPREHENSIVE INCOME

(Millions of dollars)	Year ended December 31, 2019
Operating Revenues	Parent Company		Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Petroleum product sales	$	—	$	11,373.8		$	—		$	—	$	—		$	11,373.8
Merchandise sales	—		2,620.1			—			—		—			2,620.1
Other operating revenues	—		40.7			—			—		—			40.7
Total operating revenues	—		14,034.6			—			—		—			14,034.6
Operating expenses
Petroleum product cost of goods sold	—		10,707.4			—			—		—			10,707.4
Merchandise cost of goods sold	—		2,200.7			—			—		—			2,200.7
Station and other operating expenses	—		559.3			—			—		—			559.3
Depreciation and amortization	—		152.1			0.1			—		—			152.2
Selling, general and administrative	—		144.6			—			—		—			144.6
Accretion of asset retirement obligations	—		2.1			—			—		—			2.1
Total operating expenses	—		13,766.2			0.1			—		—			13,766.3
Net settlement proceeds	—		0.1			—			—		—			0.1
Gain (loss) on sale of assets	—		0.1			—			—		—			0.1
Income from operations	—		268.6			(0.1		)	—		—			268.5
Other income (expense)
Interest income	—		3.2			—			—		—			3.2
Interest expense	—		(54.9		)	—			—		—			(54.9		)
Loss on early debt extinguishment	—		(14.8		)	—			—		—			(14.8		)
Other nonoperating income/expense	165.8		(164.8		)	(0.6		)	—		—			0.4
Total other income (expense)	165.8		(231.3		)	(0.6		)	—		—			(66.1		)
Income before income taxes	165.8		37.3			(0.7		)	—		—			202.4
Income tax expense (benefit)	—		47.8			(0.2		)	—		—			47.6
Income (loss)	165.8		(10.5		)	(0.5		)	—		—			154.8
Equity earnings in affiliates, net of tax	154.8		(0.5		)	—			—		(154.3		)	—
Net income (loss)	$	320.6	$	(11.0	)	$	(0.5	)	$	—	$	(154.3	)	$	154.8
Other comprehensive income	—		0.7			—			—		—			0.7
Comprehensive income (loss)	$	320.6	$	(10.3	)	$	(0.5	)	$	—	$	(154.3	)	$	155.5

CONSOLIDATING INCOME STATEMENT AND COMPREHENSIVE INCOME

(Millions of dollars)	Year ended December 31, 2018
Operating Revenues	Parent Company		Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Petroleum product sales	$	—	$	11,858.4		$	—		$	—	$	—		$	11,858.4
Merchandise sales	—		2,423.0			—			—		—			2,423.0
Ethanol sales and other	—		81.5			—			—		—			81.5
Total operating revenues	—		14,362.9			—			—		—			14,362.9
Operating Expenses
Petroleum product cost of goods sold	—		11,251.1			—			—		—			11,251.1
Merchandise cost of goods sold	—		2,022.5			—			—		—			2,022.5
Station and other operating expenses	—		541.3			—			—		—			541.3
Depreciation and amortization	—		134.0			—			—		—			134.0
Selling, general and administrative	—		136.2			—			—		—			136.2
Accretion of asset retirement obligations	—		2.0			—			—		—			2.0
Total operating expenses	—		14,087.1			—			—		—			14,087.1
Net settlement proceeds			50.4											50.4
Gain (loss) on sale of assets	—		(1.1		)	—			—		—			(1.1		)
Income from operations	—		325.1			—			—		—			325.1
Other income (expense)
Interest income	—		1.5			—			—		—			1.5
Interest expense	—		(52.9		)	—			—		—			(52.9		)
Other nonoperating income	973.7		(972.9		)	(0.6		)	—		—			0.2
Total other income (expense)	973.7		(1,024.3		)	(0.6		)	—		—			(51.2		)
Income before income taxes	973.7		(699.2		)	(0.6		)	—		—			273.9
Income tax expense (benefit)	—		60.4			(0.1		)	—		—			60.3
Income	973.7		(759.6		)	(0.5		)	—		—			213.6
Equity earnings in affiliates, net of tax	213.6		(0.5		)	—			—		(213.1		)	—
Net income (loss)	$	1,187.3	$	(760.1	)	$	(0.5	)	$	—	$	(213.1	)	$	213.6
Other comprehensive income	—		—			—			—		—			—
Comprehensive income (loss)	$	1,187.3	$	(760.1	)	$	(0.5	)	$	—	$	(213.1	)	$	213.6

CONSOLIDATING INCOME STATEMENT AND COMPREHENSIVE INCOME

(Millions of dollars)	Year ended December 31, 2017
Operating Revenues	Parent Company		Issuer			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Petroleum product sales	$	—	$	10,287.9		$	—	$	—	$	—		$	10,287.9
Merchandise sales	—		2,372.7			—		—		—			2,372.7
Ethanol sales and other	—		166.0			—		—		—			166.0
Total operating revenues	—		12,826.6			—		—		—			12,826.6
Operating expenses
Petroleum product cost of goods sold	—		9,773.2			—		—		—			9,773.2
Merchandise cost of goods sold	—		1,991.4			—		—		—			1,991.4
Station and other operating expenses	—		514.9			—		—		—			514.9
Depreciation and amortization	—		116.9			—		—		—			116.9
Selling, general and administrative	—		141.2			—		—		—			141.2
Accretion of asset retirement obligations	—		1.8			—		—		—			1.8
Total operating expenses	—		12,539.4			—		—		—			12,539.4
Gain (loss) on sale of assets	—		(3.9		)	—		—		—			(3.9		)
Income from operations	—		283.3			—		—		—			283.3
Other income (expense)
Interest income	—		1.3			—		—		—			1.3
Interest expense	—		(46.7		)	—		—		—			(46.7		)
Other nonoperating income	—		2.2			—		—		—			2.2
Total other income (expense)	—		(43.2		)	—		—		—			(43.2		)
Income before income taxes	—		240.1			—		—		—			240.1
Income tax expense (benefit)	—		(5.2		)	—		—		—			(5.2		)
Income	—		245.3			—		—		—			245.3
Equity earnings in affiliates, net of tax	245.3		—			—		—		(245.3		)	—
Net income (loss)	$	245.3	$	245.3		$	—	$	—	$	(245.3	)	$	245.3
Other comprehensive income	—		—			—		—		—			—
Comprehensive income (loss)	$	245.3	$	245.3		$	—	$	—	$	(245.3	)	$	245.3

Consolidating Statement of Cash Flow

CONSOLIDATING STATEMENT OF CASH FLOWS

(Millions of dollars)	Year ended December 31, 2019
Operating Activities	Parent Company			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Net income (loss)	$	320.6		$	(11.0	)	$	(0.5	)	$	—	$	(154.3	)	$	154.8
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	—			152.1			0.1			—		—			152.2
Deferred and noncurrent income tax charges (benefits)	—			23.7			—			—		—			23.7
Accretion of asset retirement obligations	—			2.1			—			—		—			2.1
(Gain) loss from sale of assets	—			(0.1		)	—			—		—			(0.1		)
Net decrease (increase) in noncash operating working capital	—			(48.6		)	(0.1		)	—		—			(48.7		)
Equity in earnings	(154.8		)	0.5			—			—		154.3			—
Loss on early debt extinguishment	—			14.8			—			—		—			14.8
Other operating activities - net	—			14.5			—			—		—			14.5
Net cash provided by (required by) operating activities	165.8			148.0			(0.5		)	—		—			313.3
Investing Activities
Property additions	—			(198.8		)	(6.0		)	—		—			(204.8		)
Proceeds from sale of assets	—			2.5			—			—		—			2.5
Other investing activities - net	—			(0.8		)	—			—		—			(0.8		)
Net cash provided by (required by) investing activities	—			(197.1		)	(6.0		)	—		—			(203.1		)
Financing Activities
Purchase of treasury stock	(165.8		)	—			—			—		—			(165.8		)
Repayments of debt	—			(573.4		)	—			—		—			(573.4		)
Borrowings of debt	—			743.8			—			—		—			743.8
Early debt extinguishment costs	—			(10.4		)	—			—		—			(10.4		)
Debt issuance costs	—			(4.1		)	—			—		—			(4.1		)
Amounts related to share-based compensation	—			(4.5		)	—			—		—			(4.5		)
Net distributions to parent	—			(6.9		)	6.9			—		—			—
Net cash provided by (required by) financing activities	(165.8		)	144.5			6.9			—		—			(14.4		)
Net change in cash, cash equivalents, and restricted cash	—			95.4			0.4			—		—			95.8
Cash, cash equivalents, and restricted cash at January 1	—			184.0			0.5			—		—			184.5
Cash, cash equivalents, and restricted cash at December 31	$	—		$	279.4		$	0.9		$	—	$	—		$	280.3
Reconciliation of Cash, Cash Equivalents and Restricted Cash
Cash and Cash equivalents at beginning of period	$	—		$	184.0		$	0.5		$	—	$	—		$	184.5
Restricted cash at beginning of period	—			—			—			—		—			—
Cash, cash equivalents, and restricted cash at beginning of period	$	—		$	184.0		$	0.5		$	—	$	—		$	184.5
Cash and cash equivalents at end of period	$	—		$	279.4		$	0.9		$	—	$	—		$	280.3
Restricted cash at end of period	—			—			—			—		—			—
Cash, cash equivalents, and restricted cash at end of period	$	—		$	279.4		$	0.9		$	—	$	—		$	280.3

CONSOLIDATING STATEMENT OF CASH FLOWS

(Millions of dollars)	Year ended December 31, 2018
Operating Activities	Parent Company			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Net income (loss)	$	1,187.3		$	(760.1	)	$	(0.5	)	$	—	$	(213.1	)	$	213.6
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	—			134.0			—			—		—			134.0
Deferred and noncurrent income tax charges (credits)	—			37.9			—			—		—			37.9
Accretion of asset retirement obligations	—			2.0			—			—		—			2.0
(Gains) loss from sale of assets	—			1.1			—			—		—			1.1
Net decrease (increase) in noncash operating working capital	—			2.4			(0.1		)	—		—			2.3
Equity in earnings	(213.6		)	0.5			—			—		213.1			—
Other operating activities - net	—			7.8			—			—		—			7.8
Net cash provided by (required by) operating activities	973.7			(574.4		)	(0.6		)	—		—			398.7
Investing Activities
Property additions	—			(203.1		)	(1.2		)	—		—			(204.3		)
Proceeds from sale of assets	—			1.2			—			—		—			1.2
Other investing activities - net	—			(6.0		)	—			—		—			(6.0		)
Net cash provided by (required by) investing activities	—			(207.9		)	(1.2		)	—		—			(209.1		)
Financing Activities
Purchase of treasury stock	(144.4		)	—			—			—		—			(144.4		)
Repayments of debt	—			(21.3		)	—			—		—			(21.3		)
Borrowings of debt	—			—			—			—		—			—
Debt issuance costs	—			—			—			—		—			—
Amounts related to share-based compensation	—			(9.4		)	—			—		—			(9.4		)
Net distributions to parent	(829.3		)	827.1			2.2			—		—			—
Net cash provided by (required by) financing activities	(973.7		)	796.4			2.2			—		—			(175.1		)
Net change in cash, cash equivalents, and restricted cash	—			14.1			0.4			—		—			14.5
Cash, cash equivalents, and restricted cash at January 1	—			169.9			0.1			—		—			170.0
Cash, cash equivalents, and restricted cash at December 31	$	—		$	184.0		$	0.5		$	—	$	—		$	184.5
Reconciliation of Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents at beginning of period	$	—		$	169.9		$	0.1		$	—	$	—		$	170.0
Restricted cash at beginning of period	—			—			—			—		—			—
Cash, cash equivalents and restricted cash at beginning of period	$	—		$	169.9		$	0.1		$	—	$	—		$	170.0
Cash and cash equivalents at end of period	$	—		$	184.0		$	0.5		$	—	$	—		$	184.5
Restricted cash at end of period	—			—			—			—		—			—
Cash, cash equivalents and restricted cash at end of period	$	—		$	184.0		$	0.5		$	—	$	—		$	184.5

CONSOLIDATING STATEMENT OF CASH FLOWS

(Millions of dollars)	Year ended December 31, 2017
Operating Activities	Parent Company			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Net income (loss)	$	245.3		$	245.3		$	—		$	—	$	(245.3	)	$	245.3
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	—			116.9			—			—		—			116.9
Deferred and noncurrent income tax charges (credits)	—			(50.4		)	—			—		—			(50.4		)
Accretion of asset retirement obligations	—			1.8			—			—		—			1.8
(Gains) loss from sale of assets	—			3.9			—			—		—			3.9
Net decrease (increase) in noncash operating working capital	—			(36.9		)	—			—		—			(36.9		)
Equity in earnings	(245.3		)	—			—			—		245.3			—
Other operating activities - net	—			3.0			—			—		—			3.0
Net cash provided by (required by) operating activities	—			283.6			—			—		—			283.6
Investing Activities
Property additions	—			(257.1		)	(1.2		)	—		—			(258.3		)
Proceeds from sale of assets	—			0.9			—			—		—			0.9
Other investing activities - net	—			(4.7		)	—			—		—			(4.7		)
Net cash provided by (required by) investing activities	—			(260.9		)	(1.2		)	—		—			(262.1		)
Financing Activities
Purchase of treasury stock	(206.0		)	—			—			—		—			(206.0		)
Repayments of debt	—			(131.4		)	—			—		—			(131.4		)
Borrowings of debt	—			338.8			—			—		—			338.8
Debt issuance costs	—			(1.1		)	—			—		—			(1.1		)
Amounts related to share-based compensation	—			(5.6		)	—			—		—			(5.6		)
Net distributions to parent	206.0			(207.3		)	1.3			—		—			—
Net cash provided by (required by) financing activities	—			(6.6		)	1.3			—		—			(5.3		)
Net change in cash, cash equivalents, and restricted cash	—			16.1			0.1			—		—			16.2
Cash, cash equivalents and restricted cash at January 1	—			153.8			—			—		—			153.8
Cash, cash equivalents and restricted cash at December 31	$	—		$	169.9		$	0.1		$	—	$	—		$	170.0
Reconciliation of Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents at beginning of period	$	—		$	153.8		$	—		$	—	$	—		$	153.8
Restricted cash at beginning of period	—			—			—			—		—			—
Cash, cash equivalents and restricted cash at beginning of period	$	—		$	153.8		$	—		$	—	$	—		$	153.8
Cash and cash equivalents at end of period	$	—		$	169.9		$	0.1		$	—	$	—		$	170.0
Restricted cash at end of period	—			—			—			—		—			$	—
Cash, cash equivalents and restricted cash at end of period	$	—		$	169.9		$	0.1		$	—	$	—		$	170.0

Consolidating Statement of Changes in Equity

CONSOLIDATING STATEMENT OF CHANGES IN EQUITY

(Millions of dollars)	Year ended December 31, 2019
Statement of Stockholders' Equity	Parent Company			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Common Stock
Balance as of December 31, 2018	$	0.5		$	—		$	0.1		$	—	$	(0.1	)	$	0.5
Issuance of common stock	—			—			—			—		—			—
Balance as of December 31, 2019	$	0.5		$	—		$	0.1		$	—	$	(0.1	)	$	0.5
Treasury Stock
Balance as of December 31, 2018	$	(940.3	)	$	—		$	—		$	—	$	—		$	(940.3	)
Issuance of treasury stock	6.3			—			—			—		—			6.3
Purchase of treasury stock	(165.8		)	—			—			—		—			(165.8		)
Balance as of December 31, 2019	$	(1,099.8	)	$	—		$	—		$	—	$	—		$	(1,099.8	)
APIC
Balance as of December 31, 2018	$	1,195.1		$	572.8		$	52.0		$	87.5	$	(1,368.4	)	$	539.0
Issuance of treasury stock	(6.3		)	—			—			—		—			(6.3		)
Amounts related to share-based compensation	—			(4.5		)	—			—		—			(4.5		)
Share-based compensation expense	—			10.5			—			—		—			10.5
Balance as of December 31, 2019	$	1,188.8		$	578.8		$	52.0		$	87.5	$	(1,368.4	)	$	538.7
Retained Earnings
Balance as of December 31, 2018	$	2,181.8		$	172.9		$	(0.5	)	$	66.8	$	(1,212.9	)	$	1,208.1
Net income	320.6			(11.0		)	(0.5		)	—		(154.3		)	154.8
Balance as of December 31, 2019	$	2,502.4		$	161.9		$	(1.0	)	$	66.8	$	(1,367.2	)	$	1,362.9
AOCI
Balance as of December 31, 2018	$	—		$	—		$	—		$	—	$	—		$	—
Other comprehensive income	—			0.7			—			—		—			0.7
Balance as of December 31, 2019	$	—		$	0.7		$	—		$	—	$	—		$	0.7

CONSOLIDATING STATEMENTS OF CHANGES IN EQUITY

(Millions of dollars)	Year ended December 31, 2018
Statement of Stockholders' Equity	Parent Company			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Common Stock
Balance as of December 31, 2017	$	0.5		$	—		$	0.1		$	—	$	(0.1	)	$	0.5
Issuance of common stock	—			—			—			—		—			—
Balance as of December 31, 2018	$	0.5		$	—		$	0.1		$	—	$	(0.1	)	$	0.5
Treasury Stock
Balance as of December 31, 2017	$	(806.5	)	$	—		$	—		$	—	$	—		$	(806.5	)
Issuance of treasury stock	10.6			—			—			—		—			10.6
Purchase of treasury stock	(144.4		)	—			—			—		—			(144.4		)
Balance as of December 31, 2018	$	(940.3	)	$	—		$	—		$	—	$	—		$	(940.3	)
APIC
Balance as of December 31, 2017	$	1,205.7		$	573.1		$	52.0		$	87.5	$	(1,368.4	)	$	549.9
Issuance of treasury stock	(10.6		)	—			—			—		—			(10.6		)
Amounts related to share-based compensation	—			(9.4		)	—			—		—			(9.4		)
Share-based compensation expense	—			9.1			—			—		—			9.1
Balance as of December 31, 2018	$	1,195.1		$	572.8		$	52.0		$	87.5	$	(1,368.4	)	$	539.0
Retained Earnings
Balance as of December 31, 2017	$	994.5		$	933.0		$	—		$	66.8	$	(999.8	)	$	994.5
Net income	1,187.3			(760.1		)	(0.5		)	—		(213.1		)	213.6
Balance as of December 31, 2018	$	2,181.8		$	172.9		$	(0.5	)	$	66.8	$	(1,212.9	)	$	1,208.1
AOCI
Balance as of December 31, 2017	$	—		$	—		$	—		$	—	$	—		$	—
Other comprehensive income	—			—			—			—		—			—
Balance as of December 31, 2018	$	—		$	—		$	—		$	—	$	—		$	—

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(Millions of dollars)	Year ended December 31, 2017
Statement of Stockholders' Equity	Parent Company			Issuer			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Common Stock
Balance as of December 31, 2016	$	0.5		$	—		$	0.1	$	—	$	(0.1	)	$	0.5
Issuance of common stock	—			—			—		—		—			—
Balance as of December 31, 2017	$	0.5		$	—		$	0.1	$	—	$	(0.1	)	$	0.5
Treasury Stock
Balance as of December 31, 2016	$	(608.0	)	$	—		$	—	$	—	$	—		$	(608.0	)
Issuance of treasury stock	7.5			—			—		—		—			7.5
Purchase of treasury stock	(206.0		)	—			—		—		—			(206.0		)
Balance as of December 31, 2017	$	(806.5	)	$	—		$	—	$	—	$	—		$	(806.5	)
APIC
Balance as of December 31, 2016	$	1,213.1		$	571.1		$	52.0	$	87.5	$	(1,368.4	)	$	555.3
Issuance of treasury stock	(7.4		)	—			—		—		—			(7.4		)
Amounts related to share-based compensation	—			(5.6		)	—		—		—			(5.6		)
Share-based compensation expense	—			7.6			—		—		—			7.6
Balance as of December 31, 2017	$	1,205.7		$	573.1		$	52.0	$	87.5	$	(1,368.4	)	$	549.9
Retained Earnings
Balance as of December 31, 2016	$	749.2		$	687.7		$	—	$	66.8	$	(754.5	)	$	749.2
Net income	245.3			245.3			—		—		(245.3		)	245.3
Balance as of December 31, 2017	$	994.5		$	933.0		$	—	$	66.8	$	(999.8	)	$	994.5
AOCI
Balance as of December 31, 2016	$	—		$	—		$	—	$	—	$	—		$	—
Other comprehensive income	—			—			—		—		—			—
Balance as of December 31, 2017	$	—		$	—		$	—	$	—	$	—		$	—