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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited)
The following is a summary of the quarterly results of operations of the Company for the years ended December 31, 2017 and 2018:
 
 
2017
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter(1)
Consolidated revenue
 
$
544.3

 
$
570.9

 
$
585.7

 
$
604.1

Income before income taxes
 
253.3

 
266.9

 
282.9

 
264.0

Net income
 
193.7

 
204.4

 
216.8

 
393.8

Net income (controlling interest)
 
122.5

 
126.3

 
125.4

 
315.4

Earnings per share (diluted)
 
$
2.13

 
$
2.22

 
$
2.22

 
$
5.50

 
 
2018
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter(2)
 
Fourth
Quarter(2)
Consolidated revenue
 
$
612.5

 
$
600.2

 
$
601.3

 
$
564.4

Income (loss) before income taxes
 
287.5

 
239.3

 
250.4

 
(63.6
)
Net income (loss)
 
224.0

 
205.2

 
201.9

 
(98.8
)
Net income (loss) (controlling interest)
 
153.0

 
117.0

 
124.9

 
(151.3
)
Earnings (loss) per share (diluted)
 
$
2.77

 
$
2.16

 
$
2.34

 
$
(2.88
)

__________________________
(1) 
In the fourth quarter of 2017, the Company recorded a one-time net benefit from changes in U.S. tax laws (see Note 22 for additional information) and an expense to reduce the carrying value of one of its U.S. alternative Affiliates accounted for under the equity method (see Note 13 for additional information).

(2) 
For the year ended December 31, 2018, the Company recorded expenses to reduce the carrying value of the U.S. alternative Affiliate to zero and one of its non-U.S. alternative Affiliates accounted for under the equity method to fair value (see Note 13 for additional information).