| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Tax Disclosure [Abstract] | |
Schedule of Income Tax Provision Attributable to Controlling and Non-Controlling Interests | The consolidated income tax provision includes taxes attributable to the controlling interest and, to a lesser extent, taxes attributable to non-controlling interests is as follows: | | | | | | | | | | | | | | | | For the Years Ended December 31, | | | 2014 | | 2015 | | 2016 | Controlling interests: | | | | | | | Current tax | | $ | 149.8 |
| | $ | 152.4 |
| | $ | 168.1 |
| Intangible-related deferred taxes | | 47.8 |
| | 77.7 |
| | 84.3 |
| Other deferred taxes | | 34.0 |
| | 27.7 |
| | (23.2 | ) | Total controlling interests | | 231.6 |
| | 257.8 |
| | 229.2 |
| Non-controlling interests: | | |
| | | | | Current tax | | $ | 15.3 |
| | $ | 9.8 |
| | $ | 8.2 |
| Deferred taxes | | (0.8 | ) | | (4.2 | ) | | (1.8 | ) | Total non-controlling interests | | 14.5 |
| | 5.6 |
| | 6.4 |
| Provision for income taxes | | $ | 246.1 |
| | $ | 263.4 |
| | $ | 235.6 |
| Income before income taxes (controlling interest) | | $ | 665.5 |
| | $ | 767.3 |
| | $ | 702.0 |
| Effective tax rate attributable to controlling interests(1) | | 34.8 | % | | 33.6 | % | | 32.6 | % |
__________________________
| | (1) | Taxes attributable to the controlling interest divided by Income before income taxes (controlling interest). |
|
Schedule of Consolidated Provision for Income Taxes | The consolidated provision for income taxes consisted of the following: | | | | | | | | | | | | | | | | For the Years Ended December 31, | | | 2014 | | 2015 | | 2016 | Current: | | | | | | | Federal | | $ | 93.8 |
| | $ | 106.3 |
| | $ | 103.4 |
| State | | 27.1 |
| | 18.3 |
| | 22.9 |
| Foreign | | 44.2 |
| | 37.6 |
| | 50.0 |
| Total current | | 165.1 |
| | 162.2 |
| | 176.3 |
| Deferred: | | | | | | | Federal | | 89.0 |
| | 103.8 |
| | 62.3 |
| State | | 2.8 |
| | 14.8 |
| | 10.0 |
| Foreign | | (10.8 | ) | | (17.4 | ) | | (13.0 | ) | Total deferred | | 81.0 |
| | 101.2 |
| | 59.3 |
| Provision for income taxes | | $ | 246.1 |
| | $ | 263.4 |
| | $ | 235.6 |
|
|
Schedule of Components of Income before Income Taxes | For financial reporting purposes, Income before income taxes consisted of the following: | | | | | | | | | | | | | | | | For the Years Ended December 31, | | | 2014 | | 2015 | | 2016 | Domestic | | $ | 784.1 |
| | $ | 827.6 |
| | $ | 688.1 |
| International | | 229.5 |
| | 263.0 |
| | 286.5 |
| | | $ | 1,013.6 |
| | $ | 1,090.6 |
| | $ | 974.6 |
|
|
Schedule of Effective Income Tax Rate Computed Using Income before Income Taxes and Applying U.S. Federal Income Tax Rate | The following table reconciles the U.S. federal statutory tax rate to the Company’s effective tax rate: | | | | | | | | | | | For the Years Ended December 31, | | 2014 | | 2015 | | 2016 | Statutory U.S. federal tax rate | 35.0 | % | | 35.0 | % | | 35.0 | % | State income taxes, net of federal benefit | 2.3 |
| | 2.6 |
| | 2.9 |
| Effect of foreign operations(1) | (5.3 | ) | | (3.5 | ) | | (4.6 | ) | Equity Compensation | 2.5 |
| | 0.8 |
| | (0.4 | ) | Effect of changes in tax law, rates(2) | — |
| | (0.8 | ) | | (0.3 | ) | Other | 0.3 |
| | (0.5 | ) | | — |
| Effective tax rate (controlling interest) | 34.8 | % | | 33.6 | % | | 32.6 | % | Effect of income from non-controlling interests | (9.6 | ) | | (9.2 | ) | | (8.4 | ) | Effective tax rate | 25.2 | % | | 24.4 | % | | 24.2 | % |
| | (1) | Effect of foreign operations includes the effect of undistributed foreign earnings the Company deems indefinitely reinvested in foreign operations, and the effect of differences in the financial reporting basis over tax basis in the Company’s investments in foreign subsidiaries considered permanent in duration. |
|
Schedule of Components of Deferred Tax Assets and Liabilities | The significant components of the Company’s deferred income taxes are as follows: | | | | | | | | | | | | December 31, | | | 2015 | | 2016 | Deferred Tax Assets | | | | | Deferred compensation | | $ | 30.5 |
| | $ | 34.1 |
| State net operating loss carryforwards | | 17.1 |
| | 17.4 |
| Foreign loss carryforwards | | 12.3 |
| | 14.6 |
| Tax benefit of uncertain tax positions | | 14.6 |
| | 12.1 |
| Foreign tax credits | | — |
| | 10.0 |
| Accrued expenses | | 4.4 |
| | 3.9 |
| Total deferred tax assets | | 78.9 |
| | 92.1 |
| Valuation allowance | | (20.5 | ) | | (22.1 | ) | Deferred tax assets, net of valuation allowance | | $ | 58.4 |
| | $ | 70.0 |
| Deferred Tax Liabilities | | | | | Intangible asset amortization | | $ | (320.2 | ) | | $ | (396.8 | ) | Non-deductible intangible amortization | | (109.8 | ) | | (177.0 | ) | Convertible securities interest | | (99.8 | ) | | (109.0 | ) | Deferred income | | (92.8 | ) | | (47.2 | ) | Other | | (1.5 | ) | | (0.8 | ) | Total deferred tax liabilities | | (624.1 | ) | | (730.8 | ) | Net deferred tax liability | | $ | (565.7 | ) | | $ | (660.8 | ) |
|
Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the changes in unrecognized tax benefits is as follows: | | | | | | | | | | | | | | | | For the Years Ended December 31, | | | 2014 | | 2015 | | 2016 | Balance, as of January 1 | | $ | 20.4 |
| | $ | 28.8 |
| | $ | 26.9 |
| Additions based on current year tax positions | | 2.6 |
| | 2.2 |
| | 3.8 |
| Additions based on prior years’ tax positions | | 10.8 |
| | 1.6 |
| | 0.6 |
| Reductions related to lapses of statutes of limitations | | (4.1 | ) | | (4.3 | ) | | (4.7 | ) | Additions (reductions) related to foreign exchange rates | | (0.9 | ) | | (1.4 | ) | | 0.2 |
| Balance, as of December 31 | | $ | 28.8 |
| | $ | 26.9 |
| | $ | 26.8 |
|
|