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Quarterly Results of Operations
 12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations

18. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The quarterly results of operations for 2020 and 2019 are summarized below.

THREE MONTHS ENDED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in millions, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

March 31

 

 

June 30

 

 

Sept. 30

 

 

Dec. 31

 

Total revenues

 

$

1,056.2

 

 

$

1,224.3

 

 

$

1,249.8

 

 

$

1,297.0

 

Income (loss) from continuing operations

 

 

(38.7

)

 

 

115.3

 

 

 

119.5

 

 

 

165.9

 

Net income (loss)

 

 

(40.0

)

 

 

115.2

 

 

 

118.9

 

 

 

164.6

 

Income (loss) from continuing operations per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

(1.01

)

 

 

3.03

 

 

 

3.17

 

 

 

4.52

 

Diluted

 

 

(1.01

)

 

 

3.01

 

 

 

3.14

 

 

 

4.47

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

(1.04

)

 

 

3.03

 

 

 

3.15

 

 

 

4.49

 

Diluted

 

 

(1.04

)

 

 

3.01

 

 

 

3.13

 

 

 

4.43

 

Dividends declared per share

 

 

0.65

 

 

 

0.65

 

 

 

0.65

 

 

 

0.70

 

 

THREE MONTHS ENDED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in millions, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

March 31

 

 

June 30

 

 

Sept. 30

 

 

Dec. 31

 

Total revenues

 

$

1,219.5

 

 

$

1,198.6

 

 

$

1,214.7

 

 

$

1,257.9

 

Income from continuing operations

 

 

122.6

 

 

 

85.0

 

 

 

111.2

 

 

 

110.2

 

Net income

 

 

122.4

 

 

 

74.0

 

 

 

118.9

 

 

 

109.8

 

Income from continuing operations per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

3.02

 

 

 

2.09

 

 

 

2.81

 

 

 

2.81

 

Diluted

 

 

2.98

 

 

 

2.06

 

 

 

2.77

 

 

 

2.77

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

3.01

 

 

 

1.82

 

 

 

3.00

 

 

 

2.80

 

Diluted

 

 

2.97

 

 

 

1.79

 

 

 

2.96

 

 

 

2.76

 

Dividends declared per share(1)

 

 

0.60

 

 

 

0.60

 

 

 

0.60

 

 

 

3.15

 

 

(1)

On December 5, 2019 the Board of Directors declared a special cash dividend of $2.50 per share.

During the fourth quarter of 2020, pursuant to the terms of the October 2020 ASR, the Company paid $100.0 million, on October 29, 2020, in exchange for an initial delivery of approximately 0.8 million shares of common stock, which was approximately 80% of the total number of shares expected to be repurchased under this agreement. On January 29, 2021, the Company received approximately 45,000 shares of common stock as final settlement of shares repurchased under the October 2020 ASR.

Due to the use of weighted average shares outstanding when calculating earnings per common share, the sum of the quarterly per common share data may not equal the per common share data for the year.