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Earnings Per Share | 9 Months Ended
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Sep. 30, 2017
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The calculation of basic earnings per share is based on the weighted average number of shares of the Company’s common stock outstanding during the period. Diluted earnings per share is similar to basic earnings per share, but adjusts for the dilutive effect of the potential issuance of incremental shares of the Company’s common stock. The following is a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share available to common stockholders.
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2016 |  | 2017 |  | 2016 |  | 2017
Numerator |  |  |  |  |  |  |
Net income (controlling interest) | $ | 110.2 |  |  | $ | 125.4 |  |  | $ | 322.5 |  |  | $ | 374.2 |
Interest expense on convertible securities, net of taxes | 3.9 |  |  | 3.9 |  |  | 11.6 |  |  | 11.6 |
Net income (controlling interest), as adjusted | $ | 114.1 |  |  | $ | 129.3 |  |  | $ | 334.1 |  |  | $ | 385.8 |
Denominator |  |  |  |  |  |  |
Average shares outstanding (basic) | 53.9 |  |  | 55.8 |  |  | 53.9 |  |  | 56.3 |
Effect of dilutive instruments: |  |  |  |  |  |  |
Stock options and restricted stock units | 0.5 |  |  | 0.3 |  |  | 0.5 |  |  | 0.3 |
Junior convertible securities | 2.2 |  |  | 2.2 |  |  | 2.2 |  |  | 2.2 |
Average shares outstanding (diluted) | 56.6 |  |  | 58.3 |  |  | 56.6 |  |  | 58.8 |
Average shares outstanding (diluted) in the table above exclude share awards that have not satisfied performance conditions and the anti-dilutive effect of the following shares:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2016 |  | 2017 |  | 2016 |  | 2017
Stock options and restricted stock units | 0.5 |  |  | 0.0 |  |  | 0.7 |  |  | 0.1 |
Shares subject to forward sale agreement | 2.0 |  |  | — |  |  | 2.0 |  |  | — |
The Company may settle portions of its Affiliate equity purchases in shares of its common stock. Because it is the Company’s intent to settle these potential purchases in cash, the calculation of diluted earnings per share excludes any potential dilutive effect from possible share settlements of Affiliate equity purchases. In the three and nine months ended September 30, 2017, the Company repurchased 0.4 million and 1.7 million shares, respectively, at an average price per share of $175.68 and $164.00, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=65016374&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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