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Net Income Per Share of Class A and Class B Common Stock (Tables)
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Following is a reconciliation of net income and weighted average shares used for our basic earnings per share (“EPS”) and diluted EPS (in millions, except per share amounts):
Three Months Ended September 30,
 
2019
 
2018
(in millions, except per share data)
 
Class A
 
Class B
 
Class A
 
Class B
Net income applicable to common stockholders - basic
 
$
83.0

 
$
2.2

 
$
89.3

 
$
3.8

Reallocation of net income due to conversion of Class B to Class A common shares outstanding
 
0.2

 
—

 
0.3

 
—

Conversion of Class B common shares into Class A common shares
 
2.0

 
—

 
3.5

 
—

Net income applicable to common stockholders - diluted
 
$
85.2

 
$
2.2

 
$
93.1

 
$
3.8

 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic
 
22.6

 
0.6

 
23.2

 
1.0

Conversion of Class B common shares into Class A common shares
 
0.6

 
—

 
1.0

 
—

Effect of dilutive stock options on weighted average common shares
 
0.2

 
—

 
0.1

 
—

Weighted average common shares outstanding – diluted
 
23.4

 
0.6

 
24.3

 
1.0

 
 
 
 
 
 
 
 
 
Net income per common share - basic
 
$
3.67

 
$
3.67

 
$
3.85

 
$
3.85

Net income per common share - diluted
 
$
3.64

 
$
3.64

 
$
3.84

 
$
3.84


Nine Months Ended September 30,
 
2019
 
2018
(in millions, except per share data)
 
Class A
 
Class B
 
Class A
 
Class B
Net income applicable to common stockholders - basic
 
$
198.2

 
$
5.3

 
$
197.5

 
$
8.3

Reallocation of net income due to conversion of Class B to Class A common shares outstanding
 
0.6

 
—

 
0.8

 
—

Conversion of Class B common shares into Class A common shares
 
4.7

 
—

 
7.5

 
—

Net income applicable to common stockholders - diluted
 
$
203.5

 
$
5.3

 
$
205.8

 
$
8.3

 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic
 
22.6

 
0.6

 
23.7

 
1.0

Conversion of Class B common shares into Class A common shares
 
0.6

 
—

 
1.0

 
—

Effect of employee stock purchases and restricted stock units on weighted average common shares
 
0.1

 
—

 
0.1

 
—

Weighted average common shares outstanding – diluted
 
23.3

 
0.6

 
24.8

 
1.0

 
 
 
 
 
 
 
 
 
Net income per common share - basic
 
$
8.77

 
$
8.77

 
$
8.34

 
$
8.34

Net income per common share - diluted
 
$
8.72

 
$
8.72

 
$
8.31

 
$
8.31