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Equity (Tables)
 9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Schedule of Stockholders' Equity
The following tables summarize the changes in equity (in millions):
 
Three Months Ended September 30, 2017
 
Three Months Ended September 30, 2016
 
Kansas City
Southern
Stockholders’
Equity
 
Noncontrolling
Interest
 
Total
Equity
 
Kansas City
Southern
Stockholders’
Equity
 
Noncontrolling
Interest
 
Total
Equity
Beginning balance
$
4,192.6

 
$
315.2

 
$
4,507.8

 
$
4,020.6

 
$
311.1

 
$
4,331.7

Net income
129.3

 
0.6

 
129.9

 
120.6

 
0.4

 
121.0

Other comprehensive loss
(0.7
)
 
—

 
(0.7
)
 
(0.3
)
 
—

 
(0.3
)
Contribution from noncontrolling interest
—

 
—

 
—

 
—

 
2.4

 
2.4

Dividends on common stock
(37.3
)
 
—

 
(37.3
)
 
(35.5
)
 
—

 
(35.5
)
Dividends on $25 par preferred stock

(0.1
)
 
—

 
(0.1
)
 
(0.1
)
 
—

 
(0.1
)
Share repurchases
(200.0
)
 
—

 
(200.0
)
 
(40.6
)
 
—

 
(40.6
)
Options exercised and stock subscribed, net of shares withheld for employee taxes
2.7

 
—

 
2.7

 
2.9

 
—

 
2.9

Excess tax benefit from share-based compensation
—

 
—

 
—

 
0.2

 
—

 
0.2

Share-based compensation
4.1

 
—

 
4.1

 
4.1

 
—

 
4.1

Ending balance
$
4,090.6

 
$
315.8

 
$
4,406.4

 
$
4,071.9

 
$
313.9

 
$
4,385.8


 
Nine Months Ended September 30, 2017
 
Nine Months Ended September 30, 2016
 
Kansas City
Southern
Stockholders’
Equity
 
Noncontrolling
Interest
 
Total
Equity
 
Kansas City
Southern
Stockholders’
Equity
 
Noncontrolling
Interest
 
Total
Equity
Beginning balance
$
4,089.9

 
$
314.6

 
$
4,404.5

 
$
3,914.3

 
$
310.4

 
$
4,224.7

Cumulative-effect adjustment (i)
2.5

 
—

 
2.5

 
—

 
—

 
—

Net income
410.3

 
1.2

 
411.5

 
348.5

 
1.1

 
349.6

Other comprehensive loss
(1.7
)
 
—

 
(1.7
)
 
(1.0
)
 
—

 
(1.0
)
Contribution from noncontrolling interest
—

 
—

 
—

 
—

 
2.4

 
2.4

Dividends on common stock
(107.2
)
 
—

 
(107.2
)
 
(106.7
)
 
—

 
(106.7
)
Dividends on $25 par preferred stock
(0.2
)
 
—

 
(0.2
)
 
(0.2
)
 
—

 
(0.2
)
Share repurchases
(320.4
)
 
—

 
(320.4
)
 
(99.8
)
 
—

 
(99.8
)
Options exercised and stock subscribed, net of shares withheld for employee taxes
2.8

 
—

 
2.8

 
1.8

 
—

 
1.8

Excess tax benefit from share-based compensation
—

 
—

 
—

 
(0.2
)
 
—

 
(0.2
)
Share-based compensation
14.6

 
—

 
14.6

 
15.2

 
—

 
15.2

Ending balance
$
4,090.6

 
$
315.8

 
$
4,406.4

 
$
4,071.9

 
$
313.9

 
$
4,385.8

(i)
The Company recognized a $2.5 million net cumulative-effect adjustment to equity as of January 1, 2017, due to the adoption of ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. For additional discussion, see Note 1 - Basis of Presentation.
Schedule of Terms of Accelerated Share Repurchase Agreements
The terms of the ASR agreements, structured as outlined above, were as follows:
Third Party Institution
 
Agreement Date
 
Settlement Date
 
Total Amount of Agreement (in millions)
 
Initial Shares Delivered
 
Fair Market Value of Initial Shares
(in millions)
 
Additional Shares Delivered
 
Fair Market Value of Additional Shares
(in millions)
 
Total Shares Delivered
 
Weighted-Average Price Per Share
ASR Agreement #1
 
August 2017
 
August 2017
 
$
100.0

 
799,398

 
$
85.0

 
151,481

 
$
15.0

 
950,879

 
$
105.17

ASR Agreement #2
 
August 2017
 
October 2017
 
$
100.0

 
799,398

 
$
85.0

 
151,492

 
$
15.0
 (i)
 
950,890

 
$
105.16

Total
 
 
 
 
 
$
200.0

 
1,598,796

 
$
170.0

 
302,973

 
$
30.0

 
1,901,769

 
$
105.17

(i) The remaining $15.0 million as of September 30, 2017 was recorded as a forward contract indexed to the Company’s own common stock and included in capital surplus within Additional paid-in capital in the accompanying Consolidated Balance Sheet, and was subsequently settled in October 2017.
Schedule of Cash Dividends Declared per Common Share
The following table presents the amount of cash dividends declared per common share by the Company’s Board of Directors:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2017
 
2016
 
2017
 
2016
Cash dividends declared per common share
$
0.360

 
$
0.330

 
$
1.020

 
$
0.990