Guarantor Subsidiaries | Guarantor Subsidiaries Certain of the Company’s 100% owned, domestic subsidiaries (the “Guarantor Subsidiaries”) fully and unconditionally guarantee, on a joint and several basis, certain of the outstanding indebtedness of the Company, including the 5.625% senior notes due 2027 and the 4.75% senior notes due 2029. The following consolidating schedules present financial information on a consolidated basis in conformity with the SEC’s Regulation S-X Rule 3-10(d): CONSOLIDATING BALANCE SHEET (Millions of dollars) December 31, 2019 Assets Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Current assets Cash and cash equivalents $ — $ 279.4 $ 0.9 $ — $ — $ 280.3 Accounts receivable—trade, less allowance for doubtful accounts of $1.2 in 2019 — 173.0 (0.1 ) — — 172.9 Inventories, at lower of cost or market — 227.6 — — — 227.6 Prepaid expenses and other current assets — 29.6 0.4 — — 30.0 Total current assets — 709.6 1.2 — — 710.8 Property, plant and equipment, at cost less accumulated depreciation and amortization of $1,079.2 in 2019 — 1,799.1 8.2 — — 1,807.3 Investments in subsidiaries 2,591.8 143.9 — — (2,735.7 ) — Other assets — 169.1 — — — 169.1 Total assets $ 2,591.8 $ 2,821.7 $ 9.4 $ — $ (2,735.7 ) $ 2,687.2 Liabilities and Stockholders' Equity Current liabilities Current maturities of long-term debt $ — $ 38.8 $ — $ — $ — $ 38.8 Inter-company accounts payable (0.1 ) 196.1 (41.7 ) (154.3 ) — — Trade accounts payable and accrued liabilities — 466.2 — — — 466.2 Total current liabilities (0.1 ) 701.1 (41.7 ) (154.3 ) — 505.0 Long-term debt, including capitalized lease obligations — 999.3 — — — 999.3 Deferred income taxes — 216.7 — — — 216.7 Asset retirement obligations — 32.8 — — — 32.8 Deferred credits and other liabilities — 130.4 — — — 130.4 Total liabilities (0.1 ) 2,080.3 (41.7 ) (154.3 ) — 1,884.2 Stockholders' Equity Preferred Stock, par $0.01 (authorized 20,000,000 shares, none outstanding) — — — — — — Common Stock, par $0.01 (authorized 200,000,000 shares, 46,767,164 shares issued at December 31, 2019) 0.5 — 0.1 — (0.1 ) 0.5 Treasury stock (16,307,048 shares held at December 31, 2019) (1,099.8 ) — — — — (1,099.8 ) Additional paid in capital (APIC) 1,188.8 578.8 52.0 87.5 (1,368.4 ) 538.7 Retained earnings 2,502.4 161.9 (1.0 ) 66.8 (1,367.2 ) 1,362.9 Accumulated other comprehensive income (AOCI) — 0.7 — — — 0.7 Total stockholders' equity 2,591.9 741.4 51.1 154.3 (2,735.7 ) 803.0 Total liabilities and stockholders' equity $ 2,591.8 $ 2,821.7 $ 9.4 $ — $ (2,735.7 ) $ 2,687.2 CONSOLIDATING BALANCE SHEET (Millions of dollars) December 31, 2018 Assets Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Current assets Cash and cash equivalents $ — $ 184.0 $ 0.5 $ — $ — $ 184.5 Accounts receivable—trade, less allowance for doubtful accounts of $1.1 in 2018 — 138.8 — — — 138.8 Inventories, at lower of cost or market — 221.5 — — — 221.5 Prepaid expenses and other current assets — 25.1 0.2 — — 25.3 Total current assets — 569.4 0.7 — — 570.1 Property, plant and equipment, at cost less accumulated depreciation and amortization of $974.2 in 2018 — 1,745.9 2.3 — — 1,748.2 Investments in subsidiaries 2,437.0 144.4 — — (2,581.4 ) — Other assets — 42.5 — — — 42.5 Total assets $ 2,437.0 $ 2,502.2 $ 3.0 $ — $ (2,581.4 ) $ 2,360.8 Liabilities and Stockholders' Equity Current liabilities Current maturities of long-term debt $ — $ 21.2 $ — $ — $ — $ 21.2 Inter-company accounts payable (0.1 ) 203.0 (48.6 ) (154.3 ) — — Trade accounts payable and accrued liabilities — 456.9 — — — 456.9 Total current liabilities (0.1 ) 681.1 (48.6 ) (154.3 ) — 478.1 Long-term debt, including capitalized lease obligations — 842.1 — — — 842.1 Deferred income taxes — 192.2 — — — 192.2 Asset retirement obligations — 30.7 — — — 30.7 Deferred credits and other liabilities — 10.4 — — — 10.4 Total liabilities (0.1 ) 1,756.5 (48.6 ) (154.3 ) — 1,553.5 Stockholders' Equity Preferred Stock, par $0.01 (authorized 20,000,000 shares, none outstanding) — — — — — — Common Stock, par $0.01 (authorized 200,000,000 shares, 46,767,164 shares issued at December 31, 2018) 0.5 — 0.1 — (0.1 ) 0.5 Treasury stock (14,505,681 shares held at December 31, 2018) (940.3 ) — — — — (940.3 ) Additional paid in capital (APIC) 1,195.1 572.8 52.0 87.5 (1,368.4 ) 539.0 Retained earnings 2,181.8 172.9 (0.5 ) 66.8 (1,212.9 ) 1,208.1 Accumulated other comprehensive income (AOCI) — — — — — — Total stockholders' equity 2,437.1 745.7 51.6 154.3 (2,581.4 ) 807.3 Total liabilities and stockholders' equity $ 2,437.0 $ 2,502.2 $ 3.0 $ — $ (2,581.4 ) $ 2,360.8 CONSOLIDATING INCOME STATEMENT AND COMPREHENSIVE INCOME (Millions of dollars) Year ended December 31, 2019 Operating Revenues Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Petroleum product sales $ — $ 11,373.8 $ — $ — $ — $ 11,373.8 Merchandise sales — 2,620.1 — — — 2,620.1 Other operating revenues — 40.7 — — — 40.7 Total operating revenues — 14,034.6 — — — 14,034.6 Operating expenses Petroleum product cost of goods sold — 10,707.4 — — — 10,707.4 Merchandise cost of goods sold — 2,200.7 — — — 2,200.7 Station and other operating expenses — 559.3 — — — 559.3 Depreciation and amortization — 152.1 0.1 — — 152.2 Selling, general and administrative — 144.6 — — — 144.6 Accretion of asset retirement obligations — 2.1 — — — 2.1 Total operating expenses — 13,766.2 0.1 — — 13,766.3 Net settlement proceeds — 0.1 — — — 0.1 Gain (loss) on sale of assets — 0.1 — — — 0.1 Income from operations — 268.6 (0.1 ) — — 268.5 Other income (expense) Interest income — 3.2 — — — 3.2 Interest expense — (54.9 ) — — — (54.9 ) Loss on early debt extinguishment — (14.8 ) — — — (14.8 ) Other nonoperating income/expense 165.8 (164.8 ) (0.6 ) — — 0.4 Total other income (expense) 165.8 (231.3 ) (0.6 ) — — (66.1 ) Income before income taxes 165.8 37.3 (0.7 ) — — 202.4 Income tax expense (benefit) — 47.8 (0.2 ) — — 47.6 Income (loss) 165.8 (10.5 ) (0.5 ) — — 154.8 Equity earnings in affiliates, net of tax 154.8 (0.5 ) — — (154.3 ) — Net income (loss) $ 320.6 $ (11.0 ) $ (0.5 ) $ — $ (154.3 ) $ 154.8 Other comprehensive income — 0.7 — — — 0.7 Comprehensive income (loss) $ 320.6 $ (10.3 ) $ (0.5 ) $ — $ (154.3 ) $ 155.5 CONSOLIDATING INCOME STATEMENT AND COMPREHENSIVE INCOME (Millions of dollars) Year ended December 31, 2018 Operating Revenues Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Petroleum product sales $ — $ 11,858.4 $ — $ — $ — $ 11,858.4 Merchandise sales — 2,423.0 — — — 2,423.0 Ethanol sales and other — 81.5 — — — 81.5 Total operating revenues — 14,362.9 — — — 14,362.9 Operating Expenses Petroleum product cost of goods sold — 11,251.1 — — — 11,251.1 Merchandise cost of goods sold — 2,022.5 — — — 2,022.5 Station and other operating expenses — 541.3 — — — 541.3 Depreciation and amortization — 134.0 — — — 134.0 Selling, general and administrative — 136.2 — — — 136.2 Accretion of asset retirement obligations — 2.0 — — — 2.0 Total operating expenses — 14,087.1 — — — 14,087.1 Net settlement proceeds 50.4 50.4 Gain (loss) on sale of assets — (1.1 ) — — — (1.1 ) Income from operations — 325.1 — — — 325.1 Other income (expense) Interest income — 1.5 — — — 1.5 Interest expense — (52.9 ) — — — (52.9 ) Other nonoperating income 973.7 (972.9 ) (0.6 ) — — 0.2 Total other income (expense) 973.7 (1,024.3 ) (0.6 ) — — (51.2 ) Income before income taxes 973.7 (699.2 ) (0.6 ) — — 273.9 Income tax expense (benefit) — 60.4 (0.1 ) — — 60.3 Income 973.7 (759.6 ) (0.5 ) — — 213.6 Equity earnings in affiliates, net of tax 213.6 (0.5 ) — — (213.1 ) — Net income (loss) $ 1,187.3 $ (760.1 ) $ (0.5 ) $ — $ (213.1 ) $ 213.6 Other comprehensive income — — — — — — Comprehensive income (loss) $ 1,187.3 $ (760.1 ) $ (0.5 ) $ — $ (213.1 ) $ 213.6 CONSOLIDATING INCOME STATEMENT AND COMPREHENSIVE INCOME (Millions of dollars) Year ended December 31, 2017 Operating Revenues Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Petroleum product sales $ — $ 10,287.9 $ — $ — $ — $ 10,287.9 Merchandise sales — 2,372.7 — — — 2,372.7 Ethanol sales and other — 166.0 — — — 166.0 Total operating revenues — 12,826.6 — — — 12,826.6 Operating expenses Petroleum product cost of goods sold — 9,773.2 — — — 9,773.2 Merchandise cost of goods sold — 1,991.4 — — — 1,991.4 Station and other operating expenses — 514.9 — — — 514.9 Depreciation and amortization — 116.9 — — — 116.9 Selling, general and administrative — 141.2 — — — 141.2 Accretion of asset retirement obligations — 1.8 — — — 1.8 Total operating expenses — 12,539.4 — — — 12,539.4 Gain (loss) on sale of assets — (3.9 ) — — — (3.9 ) Income from operations — 283.3 — — — 283.3 Other income (expense) Interest income — 1.3 — — — 1.3 Interest expense — (46.7 ) — — — (46.7 ) Other nonoperating income — 2.2 — — — 2.2 Total other income (expense) — (43.2 ) — — — (43.2 ) Income before income taxes — 240.1 — — — 240.1 Income tax expense (benefit) — (5.2 ) — — — (5.2 ) Income — 245.3 — — — 245.3 Equity earnings in affiliates, net of tax 245.3 — — — (245.3 ) — Net income (loss) $ 245.3 $ 245.3 $ — $ — $ (245.3 ) $ 245.3 Other comprehensive income — — — — — — Comprehensive income (loss) $ 245.3 $ 245.3 $ — $ — $ (245.3 ) $ 245.3 CONSOLIDATING STATEMENT OF CASH FLOWS (Millions of dollars) Year ended December 31, 2019 Operating Activities Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net income (loss) $ 320.6 $ (11.0 ) $ (0.5 ) $ — $ (154.3 ) $ 154.8 Adjustments to reconcile net income (loss) to net cash provided by operating activities Depreciation and amortization — 152.1 0.1 — — 152.2 Deferred and noncurrent income tax charges (benefits) — 23.7 — — — 23.7 Accretion of asset retirement obligations — 2.1 — — — 2.1 (Gain) loss from sale of assets — (0.1 ) — — — (0.1 ) Net decrease (increase) in noncash operating working capital — (48.6 ) (0.1 ) — — (48.7 ) Equity in earnings (154.8 ) 0.5 — — 154.3 — Loss on early debt extinguishment — 14.8 — — — 14.8 Other operating activities - net — 14.5 — — — 14.5 Net cash provided by (required by) operating activities 165.8 148.0 (0.5 ) — — 313.3 Investing Activities Property additions — (198.8 ) (6.0 ) — — (204.8 ) Proceeds from sale of assets — 2.5 — — — 2.5 Other investing activities - net — (0.8 ) — — — (0.8 ) Net cash provided by (required by) investing activities — (197.1 ) (6.0 ) — — (203.1 ) Financing Activities Purchase of treasury stock (165.8 ) — — — — (165.8 ) Repayments of debt — (573.4 ) — — — (573.4 ) Borrowings of debt — 743.8 — — — 743.8 Early debt extinguishment costs — (10.4 ) — — — (10.4 ) Debt issuance costs — (4.1 ) — — — (4.1 ) Amounts related to share-based compensation — (4.5 ) — — — (4.5 ) Net distributions to parent — (6.9 ) 6.9 — — — Net cash provided by (required by) financing activities (165.8 ) 144.5 6.9 — — (14.4 ) Net change in cash, cash equivalents, and restricted cash — 95.4 0.4 — — 95.8 Cash, cash equivalents, and restricted cash at January 1 — 184.0 0.5 — — 184.5 Cash, cash equivalents, and restricted cash at December 31 $ — $ 279.4 $ 0.9 $ — $ — $ 280.3 Reconciliation of Cash, Cash Equivalents and Restricted Cash Cash and Cash equivalents at beginning of period $ — $ 184.0 $ 0.5 $ — $ — $ 184.5 Restricted cash at beginning of period — — — — — — Cash, cash equivalents, and restricted cash at beginning of period $ — $ 184.0 $ 0.5 $ — $ — $ 184.5 Cash and cash equivalents at end of period $ — $ 279.4 $ 0.9 $ — $ — $ 280.3 Restricted cash at end of period — — — — — — Cash, cash equivalents, and restricted cash at end of period $ — $ 279.4 $ 0.9 $ — $ — $ 280.3 CONSOLIDATING STATEMENT OF CASH FLOWS (Millions of dollars) Year ended December 31, 2018 Operating Activities Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net income (loss) $ 1,187.3 $ (760.1 ) $ (0.5 ) $ — $ (213.1 ) $ 213.6 Adjustments to reconcile net income (loss) to net cash provided by operating activities Depreciation and amortization — 134.0 — — — 134.0 Deferred and noncurrent income tax charges (credits) — 37.9 — — — 37.9 Accretion of asset retirement obligations — 2.0 — — — 2.0 (Gains) loss from sale of assets — 1.1 — — — 1.1 Net decrease (increase) in noncash operating working capital — 2.4 (0.1 ) — — 2.3 Equity in earnings (213.6 ) 0.5 — — 213.1 — Other operating activities - net — 7.8 — — — 7.8 Net cash provided by (required by) operating activities 973.7 (574.4 ) (0.6 ) — — 398.7 Investing Activities Property additions — (203.1 ) (1.2 ) — — (204.3 ) Proceeds from sale of assets — 1.2 — — — 1.2 Other investing activities - net — (6.0 ) — — — (6.0 ) Net cash provided by (required by) investing activities — (207.9 ) (1.2 ) — — (209.1 ) Financing Activities Purchase of treasury stock (144.4 ) — — — — (144.4 ) Repayments of debt — (21.3 ) — — — (21.3 ) Borrowings of debt — — — — — — Debt issuance costs — — — — — — Amounts related to share-based compensation — (9.4 ) — — — (9.4 ) Net distributions to parent (829.3 ) 827.1 2.2 — — — Net cash provided by (required by) financing activities (973.7 ) 796.4 2.2 — — (175.1 ) Net change in cash, cash equivalents, and restricted cash — 14.1 0.4 — — 14.5 Cash, cash equivalents, and restricted cash at January 1 — 169.9 0.1 — — 170.0 Cash, cash equivalents, and restricted cash at December 31 $ — $ 184.0 $ 0.5 $ — $ — $ 184.5 Reconciliation of Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents at beginning of period $ — $ 169.9 $ 0.1 $ — $ — $ 170.0 Restricted cash at beginning of period — — — — — — Cash, cash equivalents and restricted cash at beginning of period $ — $ 169.9 $ 0.1 $ — $ — $ 170.0 Cash and cash equivalents at end of period $ — $ 184.0 $ 0.5 $ — $ — $ 184.5 Restricted cash at end of period — — — — — — Cash, cash equivalents and restricted cash at end of period $ — $ 184.0 $ 0.5 $ — $ — $ 184.5 CONSOLIDATING STATEMENT OF CASH FLOWS (Millions of dollars) Year ended December 31, 2017 Operating Activities Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net income (loss) $ 245.3 $ 245.3 $ — $ — $ (245.3 ) $ 245.3 Adjustments to reconcile net income (loss) to net cash provided by operating activities Depreciation and amortization — 116.9 — — — 116.9 Deferred and noncurrent income tax charges (credits) — (50.4 ) — — — (50.4 ) Accretion of asset retirement obligations — 1.8 — — — 1.8 (Gains) loss from sale of assets — 3.9 — — — 3.9 Net decrease (increase) in noncash operating working capital — (36.9 ) — — — (36.9 ) Equity in earnings (245.3 ) — — — 245.3 — Other operating activities - net — 3.0 — — — 3.0 Net cash provided by (required by) operating activities — 283.6 — — — 283.6 Investing Activities Property additions — (257.1 ) (1.2 ) — — (258.3 ) Proceeds from sale of assets — 0.9 — — — 0.9 Other investing activities - net — (4.7 ) — — — (4.7 ) Net cash provided by (required by) investing activities — (260.9 ) (1.2 ) — — (262.1 ) Financing Activities Purchase of treasury stock (206.0 ) — — — — (206.0 ) Repayments of debt — (131.4 ) — — — (131.4 ) Borrowings of debt — 338.8 — — — 338.8 Debt issuance costs — (1.1 ) — — — (1.1 ) Amounts related to share-based compensation — (5.6 ) — — — (5.6 ) Net distributions to parent 206.0 (207.3 ) 1.3 — — — Net cash provided by (required by) financing activities — (6.6 ) 1.3 — — (5.3 ) Net change in cash, cash equivalents, and restricted cash — 16.1 0.1 — — 16.2 Cash, cash equivalents and restricted cash at January 1 — 153.8 — — — 153.8 Cash, cash equivalents and restricted cash at December 31 $ — $ 169.9 $ 0.1 $ — $ — $ 170.0 Reconciliation of Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents at beginning of period $ — $ 153.8 $ — $ — $ — $ 153.8 Restricted cash at beginning of period — — — — — — Cash, cash equivalents and restricted cash at beginning of period $ — $ 153.8 $ — $ — $ — $ 153.8 Cash and cash equivalents at end of period $ — $ 169.9 $ 0.1 $ — $ — $ 170.0 Restricted cash at end of period — — — — — $ — Cash, cash equivalents and restricted cash at end of period $ — $ 169.9 $ 0.1 $ — $ — $ 170.0 CONSOLIDATING STATEMENT OF CHANGES IN EQUITY (Millions of dollars) Year ended December 31, 2019 Statement of Stockholders' Equity Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Common Stock Balance as of December 31, 2018 $ 0.5 $ — $ 0.1 $ — $ (0.1 ) $ 0.5 Issuance of common stock — — — — — — Balance as of December 31, 2019 $ 0.5 $ — $ 0.1 $ — $ (0.1 ) $ 0.5 Treasury Stock Balance as of December 31, 2018 $ (940.3 ) $ — $ — $ — $ — $ (940.3 ) Issuance of treasury stock 6.3 — — — — 6.3 Purchase of treasury stock (165.8 ) — — — — (165.8 ) Balance as of December 31, 2019 $ (1,099.8 ) $ — $ — $ — $ — $ (1,099.8 ) APIC Balance as of December 31, 2018 $ 1,195.1 $ 572.8 $ 52.0 $ 87.5 $ (1,368.4 ) $ 539.0 Issuance of treasury stock (6.3 ) — — — — (6.3 ) Amounts related to share-based compensation — (4.5 ) — — — (4.5 ) Share-based compensation expense — 10.5 — — — 10.5 Balance as of December 31, 2019 $ 1,188.8 $ 578.8 $ 52.0 $ 87.5 $ (1,368.4 ) $ 538.7 Retained Earnings Balance as of December 31, 2018 $ 2,181.8 $ 172.9 $ (0.5 ) $ 66.8 $ (1,212.9 ) $ 1,208.1 Net income 320.6 (11.0 ) (0.5 ) — (154.3 ) 154.8 Balance as of December 31, 2019 $ 2,502.4 $ 161.9 $ (1.0 ) $ 66.8 $ (1,367.2 ) $ 1,362.9 AOCI Balance as of December 31, 2018 $ — $ — $ — $ — $ — $ — Other comprehensive income — 0.7 — — — 0.7 Balance as of December 31, 2019 $ — $ 0.7 $ — $ — $ — $ 0.7 CONSOLIDATING STATEMENTS OF CHANGES IN EQUITY (Millions of dollars) Year ended December 31, 2018 Statement of Stockholders' Equity Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Common Stock Balance as of December 31, 2017 $ 0.5 $ — $ 0.1 $ — $ (0.1 ) $ 0.5 Issuance of common stock — — — — — — Balance as of December 31, 2018 $ 0.5 $ — $ 0.1 $ — $ (0.1 ) $ 0.5 Treasury Stock Balance as of December 31, 2017 $ (806.5 ) $ — $ — $ — $ — $ (806.5 ) Issuance of treasury stock 10.6 — — — — 10.6 Purchase of treasury stock (144.4 ) — — — — (144.4 ) Balance as of December 31, 2018 $ (940.3 ) $ — $ — $ — $ — $ (940.3 ) APIC Balance as of December 31, 2017 $ 1,205.7 $ 573.1 $ 52.0 $ 87.5 $ (1,368.4 ) $ 549.9 Issuance of treasury stock (10.6 ) — — — — (10.6 ) Amounts related to share-based compensation — (9.4 ) — — — (9.4 ) Share-based compensation expense — 9.1 — — — 9.1 Balance as of December 31, 2018 $ 1,195.1 $ 572.8 $ 52.0 $ 87.5 $ (1,368.4 ) $ 539.0 Retained Earnings Balance as of December 31, 2017 $ 994.5 $ 933.0 $ — $ 66.8 $ (999.8 ) $ 994.5 Net income 1,187.3 (760.1 ) (0.5 ) — (213.1 ) 213.6 Balance as of December 31, 2018 $ 2,181.8 $ 172.9 $ (0.5 ) $ 66.8 $ (1,212.9 ) $ 1,208.1 AOCI Balance as of December 31, 2017 $ — $ — $ — $ — $ — $ — Other comprehensive income — — — — — — Balance as of December 31, 2018 $ — $ — $ — $ — $ — $ — CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Millions of dollars) Year ended December 31, 2017 Statement of Stockholders' Equity Parent Company Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Common Stock Balance as of December 31, 2016 $ 0.5 $ — $ 0.1 $ — $ (0.1 ) $ 0.5 Issuance of common stock — — — — — — Balance as of December 31, 2017 $ 0.5 $ — $ 0.1 $ — $ (0.1 ) $ 0.5 Treasury Stock Balance as of December 31, 2016 $ (608.0 ) $ — $ — $ — $ — $ (608.0 ) Issuance of treasury stock 7.5 — — — — 7.5 Purchase of treasury stock (206.0 ) — — — — (206.0 ) Balance as of December 31, 2017 $ (806.5 ) $ — $ — $ — $ — $ (806.5 ) APIC Balance as of December 31, 2016 $ 1,213.1 $ 571.1 $ 52.0 $ 87.5 $ (1,368.4 ) $ 555.3 Issuance of treasury stock (7.4 ) — — — — (7.4 ) Amounts related to share-based compensation — (5.6 ) — — — (5.6 ) Share-based compensation expense — 7.6 — — — 7.6 Balance as of December 31, 2017 $ 1,205.7 $ 573.1 $ 52.0 $ 87.5 $ (1,368.4 ) $ 549.9 Retained Earnings Balance as of December 31, 2016 $ 749.2 $ 687.7 $ — $ 66.8 $ (754.5 ) $ 749.2 Net income 245.3 245.3 — — (245.3 ) 245.3 Balance as of December 31, 2017 $ 994.5 $ 933.0 $ — $ 66.8 $ (999.8 ) $ 994.5 AOCI Balance as of December 31, 2016 $ — $ — $ — $ — $ — $ — Other comprehensive income — — — — — — Balance as of December 31, 2017 $ — $ — $ — $ — $ — $ — |