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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Components of Provision for Income Taxes
Components of the provision for income taxes are as follows:
Years Ended December 31,
(in millions)201920182017
Current provision:
Federal$19.2  $10.1  $29.5  
State and local6.0  3.8  3.0  
25.2  13.9  32.5  
Deferred provision (benefit):
Federal16.1  35.0  (53.0) 
State and local15.5  2.5  0.8  
Foreign—  (0.1) (0.2) 
31.6  37.4  (52.4) 
$56.8  $51.3  $(19.9) 
Schedule of Income from Operations Before Provision for Income Taxes
Income from continuing operations before provision for income taxes were as follows:
Years Ended December 31,
(in millions)201920182017
Domestic$196.4  $234.2  $102.2  
Foreign—  (0.3) 0.3  
$196.4  $233.9  $102.5  
Reconciliation of Amount Computed by Applying the Federal Statutory Income Tax Rate
Our income tax expense is different from the amount computed by applying the federal statutory income tax rate to income from continuing operations before taxes as follows:
Years Ended December 31,
(in millions)201920182017
Federal statutory tax on earnings before income taxes$41.2  $49.1  $35.9  
State income taxes, net of federal income tax benefit8.0  5.4  2.5  
Non-deductible officer's compensation5.5  2.6  4.7  
Re-measurement of deferred taxes8.3  —  (57.7) 
Windfall deduction from equity compensation(5.2) (4.7) (5.2) 
Other(1.0) (1.1) (0.1) 
$56.8  $51.3  $(19.9) 
Schedule of Components Deferred Tax Assets and Liabilities
Components of our deferred tax assets and liabilities were as follows:
As of December 31,
(in millions)20192018
Deferred tax assets:
Lease liabilities$6.8  $—  
Deferred compensation plans5.9  5.8  
Deferred income4.8  5.6  
Net operating losses and credit carryforward3.4  3.7  
Deferred liabilities2.7  2.2  
Allowance for uncollectible receivables1.0  0.9  
Deferred tax assets24.6  18.2  
Valuation allowance(0.2) (0.2) 
Net deferred tax asset24.4  18.0  
Deferred tax liabilities:
Equity investments in excess of tax basis114.8  6.9  
Intangible assets in excess of tax basis60.2  49.3  
Property and equipment in excess of tax basis53.4  38.7  
Right-of-use assets6.8  —  
Other2.0  1.3  
Deferred tax liabilities237.2  96.2  
Net deferred tax liability$(212.8) $(78.2) 
Reconciliation of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
(in millions)201920182017
Balance as of January 1$2.8  $2.9  $2.3  
Additions for tax positions related to the current year0.1  0.1  0.5  
Additions for tax positions of prior years—  0.1  0.3  
Reductions for tax positions of prior years(1.1) (0.3) (0.2) 
Balance as of December 31$1.8  $2.8  $2.9