CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
Jun. 30, 2016	Jun. 30, 2015
Cash flow from (used in) operating activities:
Net income	$ 356.7	$ 410.6
Adjustments to reconcile Net income to net Cash flow from operating activities:
Intangible amortization and impairments	55.3	55.9
Depreciation and other amortization	10.0	9.0
Deferred income tax provision	50.4	59.7
Imputed interest expense and contingent payment arrangements	(1.1)	(40.4)
Income from equity method investments, net of amortization	(133.2)	(113.2)
Distributions received from equity method investments	205.1	222.7
Amortization of issuance costs	2.4	4.0
Share-based compensation and Affiliate equity expense	33.2	67.1
Other non-cash items	(3.9)	(6.6)
Changes in assets and liabilities:
Increase in receivables	(50.0)	(54.3)
Increase in other assets	(47.6)	(5.2)
Decrease in payables, accrued liabilities and other liabilities	(136.2)	(138.8)
Cash flow from operating activities	341.1	470.5
Cash flow from (used in) investing activities:
Investments in Affiliates	(551.4)	(32.0)
Purchase of fixed assets	(8.6)	(11.7)
Purchase of investment securities	(8.0)	(4.8)
Sale of investment securities	28.0	18.2
Cash flow used in investing activities	(540.0)	(30.3)
Cash flow from (used in) financing activities:
Borrowings of senior debt	585.0	523.3
Repayments of senior debt and convertible securities	(330.0)	(556.0)
Issuance of common stock	7.7	53.2
Repurchase of common stock	(33.4)	(314.8)
Note and contingent payments	3.0	9.4
Distributions to non-controlling interests	(189.0)	(230.0)
Affiliate equity issuances and repurchases	(71.7)	(25.1)
Excess tax benefit from share-based compensation	0.4	42.3
Other financing items	13.9	(3.3)
Cash flow from (used in) financing activities	(14.1)	(501.0)
Effect of foreign exchange rate changes on cash and cash equivalents	(15.7)	(1.3)
Net decrease in cash and cash equivalents	(228.7)	(62.1)
Cash and cash equivalents at beginning of period	563.8	550.6
Cash and cash equivalents at end of period	$ 360.4	$ 488.5

The aggregate expense charged against earnings to allocate the cost of tangible assets to periods in which the assets are used and held and to allocate the cost of issuing debt to periods in which the debt is outstanding. As a noncash expense, this element is added back to net income when calculating cash provided by (used in) operations using the indirect method.

No definition available.