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Equity Method Investments in Affiliates | 3 Months Ended
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Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract] |
Equity Investments in Affiliates | Equity Method Investments in Affiliates The following table presents the change in Equity method investments in Affiliates:
| Total
Balance, as of December 31, 2016 | $ | 3,368.3 |
Equity method earnings | 107.6 |
Equity method intangible amortization | (21.7 | )
Distributions from equity method investments | (189.9 | )
Investments | 29.9 |
Foreign currency translation | 2.6 |
Other | 2.0 |
Balance, as of March 31, 2017 | $ | 3,298.8 |
The intangible assets associated with the Company’s equity method investments in Affiliates consist of definite-lived and indefinite-lived acquired client relationships and goodwill. As of March 31, 2017, the definite-lived relationships were being amortized over a weighted average life of approximately 13 years. The Company recorded amortization expense in Income from equity method investments for these relationships of $14.2 million and $21.7 million for the three months ended March 31, 2016 and 2017, respectively. Based on relationships existing as of March 31, 2017, the Company estimates the annual amortization expense attributable to its current equity-method Affiliates to be approximately $80 million for each of the next five years. The financial results of certain equity method Affiliates are recognized in the Consolidated Financial Statements one quarter in arrears. For the three months ended March 31, 2016 and 2017, one of the Company’s equity method Affiliates recognized revenue of $206.1 million and $265.6 million, respectively, and net income of $111.6 million and $148.6 million, respectively.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32787-111569 + Details
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