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Shareholders' Equity | 6 Months Ended
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Jun. 30, 2020
Equity [Abstract] |
Shareholders' Equity | Shareholders’ Equity The following table presents the changes in shareholders’ equity for the six months ended June 30, 2020:
| Common Shares Issued |  | Common Stock |  | Capital in Excess of Par Value |  | Number of Treasury Shares |  | Treasury Stock |  | Retained earnings |  | Accumulated other comprehensive loss |  | Total
(in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, December 31, 2019 | 75.3 |  |  | $ | 18.8 |  |  | $ | 272.7 |  |  | 1.2 |  |  | $ | (118.1) |  |  | $ | 1,549.4 |  |  | $ | (149.6) |  |  | $ | 1,573.2 |
Effect of modified retrospective application of a new accounting standard (see Note 2) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.1) |  |  | — |  |  | (0.1) |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 74.3 |  |  | — |  |  | 74.3 |
Activity related to stock-based compensation | — |  |  | — |  |  | (5.1) |  |  | (0.3) |  |  | 17.9 |  |  | — |  |  | — |  |  | 12.8 |
Shares purchased under share repurchase program | — |  |  | — |  |  | — |  |  | 0.8 |  |  | (115.5) |  |  | — |  |  | — |  |  | (115.5) |
Dividends declared ($0.16 per share) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (11.8) |  |  | — |  |  | (11.8) |
Other comprehensive loss, net of tax | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (42.7) |  |  | (42.7) |
Balance, March 31, 2020 | 75.3 |  |  | $ | 18.8 |  |  | $ | 267.6 |  |  | 1.7 |  |  | $ | (215.7) |  |  | $ | 1,611.8 |  |  | $ | (192.3) |  |  | $ | 1,490.2 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 91.2 |  |  | — |  |  | 91.2 |
Activity related to stock-based compensation | — |  |  | — |  |  | (4.5) |  |  | (0.2) |  |  | 24.9 |  |  | — |  |  | — |  |  | 20.4 |
Other comprehensive income, net of tax | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4.5 |  |  | 4.5 |
Balance, June 30, 2020 | 75.3 |  |  | $ | 18.8 |  |  | $ | 263.1 |  |  | 1.5 |  |  | $ | (190.8) |  |  | $ | 1,703.0 |  |  | $ | (187.8) |  |  | $ | 1,606.3 |
The following table presents the changes in shareholders’ equity for the six months ended June 30, 2019:
| Common Shares Issued |  | Common Stock |  | Capital in Excess of Par Value |  | Number of Treasury Shares |  | Treasury Stock |  | Retained earnings |  | Accumulated other comprehensive loss |  | Total
(in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, December 31, 2018 | 75.3 |  |  | $ | 18.8 |  |  | $ | 282.0 |  |  | 1.2 |  |  | $ | (103.7) |  |  | $ | 1,353.4 |  |  | $ | (154.2) |  |  | $ | 1,396.3 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 55.4 |  |  | — |  |  | 55.4 |
Activity related to stock-based compensation | — |  |  | — |  |  | (3.5) |  |  | (0.2) |  |  | 14.2 |  |  | — |  |  | — |  |  | 10.7 |
Shares purchased under share repurchase program | — |  |  | — |  |  | — |  |  | 0.8 |  |  | (83.1) |  |  | — |  |  | — |  |  | (83.1) |
Dividends declared ($0.15 per share) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (10.6) |  |  | — |  |  | (10.6) |
Other comprehensive income, net of tax | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.8 |  |  | 0.8 |
Balance, March 31, 2019 | 75.3 |  |  | $ | 18.8 |  |  | $ | 278.5 |  |  | 1.8 |  |  | $ | (172.6) |  |  | $ | 1,398.2 |  |  | $ | (153.4) |  |  | $ | 1,369.5 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 66.1 |  |  | — |  |  | 66.1 |
Activity related to stock-based compensation | — |  |  | — |  |  | (5.1) |  |  | (0.2) |  |  | 24.8 |  |  | — |  |  | — |  |  | 19.7 |
Dividends declared ($0.15 per share) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (11.4) |  |  | — |  |  | (11.4) |
Other comprehensive income, net of tax | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1.2 |  |  | 1.2 |
Balance, June 30, 2019 | 75.3 |  |  | $ | 18.8 |  |  | $ | 273.4 |  |  | 1.6 |  |  | $ | (147.8) |  |  | $ | 1,452.9 |  |  | $ | (152.2) |  |  | $ | 1,445.1 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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