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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Dec. 31, 2015
Cash flows — operating activities:            
Net income $ 75.4 $ 53.2 $ 322.4 $ 110.2    
Less: income from discontinued operations 1.9 18.7 4.8 37.2    
Income from continuing operations 73.5 34.5 317.6 73.0    
Depreciation and amortization 34.8 24.2 58.0 46.3 $ 96.0 $ 91.1
Net gains on investments     (151.7) (2.8)    
Gain recognized on step-up of unconsolidated affiliates     (43.8) 0.0    
Amortization of share-based compensation     13.2 13.3    
Equity in earnings of unconsolidated affiliates (3.9) (10.2) (23.1) (16.9) (27.2) (45.4)
Cash dividends from unconsolidated affiliates     0.6 0.2    
Deferred income taxes     (2.9) (1.4)    
Changes in accounts receivable     9.3 (12.4)    
Changes in other assets     (47.7) (4.9)    
Changes in client funds obligations     (14.8) 10.2    
Changes in client funding receivable     14.8 (10.2)    
Changes in accounts payable and accrued liabilities     (78.4) 7.6    
Changes in income taxes payable     11.0 (27.9)    
Changes in deferred revenues and gains     (24.0) (3.9)    
Changes in accrued compensation and benefits     (46.2) (40.7)    
Other, net     4.6 5.4    
Net cash provided from (used in) continuing operating activities     (3.5) 34.9    
Net cash provided from (used in) discontinued operating activities     (11.7) 33.9    
Net cash provided from (used in) operating activities     (15.2) 68.8    
Cash flows — investing activities:            
Cash paid for capital expenditures     (34.1) (30.2)    
Investments in securities     (51.5) (138.7)    
Proceeds from (advances to) unconsolidated affiliates     31.9 (12.3)    
Proceeds from sales/maturities of investments     75.9 199.8    
Net change in funds held to satisfy client funds obligations     (0.1) 193.0    
Proceeds from sale of properties     0.0 5.7    
Acquisition of businesses, net of cash and cash equivalents acquired     (38.9) (93.5)    
Proceeds from sale of business, net of cash and cash equivalents sold     0.8 9.5    
Other, net     0.0 1.0    
Net cash provided from (used in) continuing investing activities     (16.0) 134.3    
Net cash provided from discontinued investing activities     40.6 7.3    
Net cash provided from investing activities     24.6 141.6    
Cash flows — financing activities:            
Proceeds from issuance of common stock     2.1 2.3    
Principal payments on debt     (1.7) (3.4)    
Net borrowings on revolving credit facilities     128.0 3.9    
Net borrowings (repayments) on accounts receivable securitization program     (19.4) 150.0    
Net change in client funds obligations     0.1 (193.0)    
Common stock repurchased     (160.2) (163.9)    
Payment of cash dividends     (22.1) (22.1)    
Excess tax benefits from share-based compensation     0.0 3.7    
Receipt of third party capital in investment fund     0.8 6.3    
Net cash used in continuing financing activities     (72.4) (216.2)    
Net cash used in discontinued financing activities     (0.2) 0.0    
Net cash used in financing activities     (72.6) (216.2)    
Effect of exchange rate on cash and cash equivalents     2.8 0.0    
Net decrease in cash and cash equivalents, including cash within assets held for sale     (60.4) (5.8)    
Cash and cash equivalents, beginning of period     199.5 89.6 89.6  
Cash and cash equivalents, end of period 139.1 83.8 139.1 83.8 199.5 $ 89.6
Less: cash and cash equivalents held for sale 0.0 11.1 0.0 11.1    
Cash and cash equivalents of continuing operations, end of period $ 139.1 $ 72.7 $ 139.1 $ 72.7 $ 195.5