Long-Term Investments (Notes)

9 Months Ended

Sep. 30, 2017

Investments, All Other Investments [Abstract]

Investment [Text Block]

Long-Term Investments

The company maintains various long-term investments as included in other assets in the consolidated balance sheets.

In January 2017, the company sold its remaining 43.4 million shares of BM&FBOVESPA S.A. (BM&FBOVESPA) and recognized a net gain of $86.5 million, net of transaction costs, within investment income on the consolidated statements of income. In conjunction with the final sale of shares, the company reclassified income tax expense of $87.8 million from accumulated other comprehensive income to the income tax provision.

In the third quarter of 2017, the company sold 9.9 million shares of Bolsa Mexicana de Valores, S.A.B de C.V. (Bolsa Mexicana) and recognized a net gain of $2.0 million, net of transaction costs, within investment income on the consolidated statements of income. As of September 30, 2017, the company owned an approximate 0.3% interest in Bolsa Mexicana. At September 30, 2017, the fair value and cost basis of the remaining investment in Bolsa Mexicana was $3.1 million and $2.7 million respectively.