DST Systems (DST) 10-Q 4 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information
Entity Registrant Name	DST SYSTEMS INC
Entity Central Index Key	714,603
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		35,843,952
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 103	$ 151.7
Funds held on behalf of clients	214.6	356.2
Client funding receivable	44.6	43.4
Accounts receivable	354.7	349.6
Other assets	70.7	71
Total current assets	787.6	971.9
Investments	453.6	656.6
Unconsolidated affiliates	311.1	298.7
Properties, net	417.2	403.6
Intangible assets, net	115.3	122.5
Goodwill	419.8	414.7
Other assets	58.6	74.9
Total assets	2,563.2	2,942.9
Current liabilities
Current portion of debt	151.7	167.3
Client funds obligations	259.1	399.6
Accounts payable	93.7	101.8
Accrued compensation and benefits	123.8	168
Deferred revenues and gains	53.9	53.9
Income taxes payable	0.3	17.6
Other liabilities	107.1	113.7
Total current liabilities	789.6	1,021.9
Long-term debt	346.5	385.6
Income taxes payable	89.6	80.1
Deferred income taxes	109.1	186.4
Other liabilities	34.3	32.5
Total liabilities	$ 1,369.1	$ 1,706.5
Commitments and contingencies (Note 9)
Stockholders’ Equity
Preferred stock, $0.01 par; 10 million shares authorized and unissued	$ 0	$ 0
Common stock, $0.01 par; 400 million shares authorized, 50.0 million shares issued	0.5	0.5
Additional paid-in capital	125.1	114.4
Retained earnings	1,876.1	1,682.9
Treasury stock (13.6 million and 12.4 million shares, respectively), at cost	(886.8)	(748.3)
Accumulated other comprehensive income	79.2	186.9
Total stockholders’ equity	1,194.1	1,236.4
Total liabilities and stockholders’ equity	$ 2,563.2	$ 2,942.9

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	50,000,000	50,000,000
Treasury stock, shares	13,600,000	12,400,000

Condensed Consolidated Statemen

Condensed Consolidated Statement of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating revenues	$ 500.4	$ 509.6	$ 996.1	$ 1,014.8
Out-of-pocket reimbursements	194.1	169.9	400.7	348.5
Total revenues	694.5	679.5	1,396.8	1,363.3
Costs and expenses	595.6	576.1	1,189.4	1,159.8
Depreciation and amortization	29.8	32.1	59.2	64.1
Income from operations	69.1	71.3	148.2	139.4
Interest expense	(6.1)	(7)	(12.2)	(13.6)
Other income, net	92.3	131.2	175.6	224.8
Equity in earnings of unconsolidated affiliates	12.8	9.6	27.7	15
Income before income taxes	168.1	205.1	339.3	365.6
Income taxes	60.6	67.3	124	127.4
Net income	$ 107.5	$ 137.8	$ 215.3	$ 238.2
Weighted average common shares outstanding	36.6	40.9	36.9	41.4
Weighted average diluted shares outstanding	37	41.2	37.3	41.8
Basic earnings per share	$ 2.94	$ 3.37	$ 5.84	$ 5.75
Diluted earnings per share	2.91	3.34	5.78	5.70
Cash dividends per share of common stock	$ 0.30	$ 0.30	$ 0.60	$ 0.60

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income	$ 107.5	$ 137.8	$ 215.3	$ 238.2
Other comprehensive income (loss), net of tax and reclassifications to earnings, derived from:
Available-for-sale securities	(46.1)	(8.5)	(103.5)	(49.9)
Cash flow hedges	0.1	0.2	0.2	0.4
Foreign currency translation adjustments	5.9	1.7	(4.4)	2.1
Other comprehensive loss	(40.1)	(6.6)	(107.7)	(47.4)
Comprehensive income	$ 67.4	$ 131.2	$ 107.6	$ 190.8

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows — operating activities:
Net income	$ 215.3	$ 238.2
Depreciation and amortization	59.2	64.1
Net gains on investments	(160.6)	(149.7)
Gain on sale of properties	(3.1)	(0.6)
Amortization of share-based compensation	14.4	10.3
Equity in earnings of unconsolidated affiliates	(27.7)	(15)
Cash dividends from unconsolidated affiliates	3.2	1.5
Gain on contract to repurchase common stock	0	(18.1)
Deferred income taxes	(12.1)	(3.1)
Changes in accounts receivable	(4.3)	(13.5)
Changes in other assets	2.6	3.7
Changes in accounts payable and accrued liabilities	(11.4)	0.5
Changes in income taxes payable	(7.9)	24.5
Changes in deferred revenues and gains	(1.3)	(1.7)
Changes in accrued compensation and benefits	(44.8)	(23.1)
Other, net	3.8	10.3
Net cash provided from operating activities	25.3	128.3
Cash flows — investing activities:
Cash paid for capital expenditures	(59.5)	(59.8)
Investments in securities	(43.6)	(44.4)
Proceeds from unconsolidated affiliates	10.5	8.6
Proceeds from sales/maturities of investments	234.9	214.9
Net change in restricted cash and cash equivalents held to satisfy client funds obligations	141.6	(14)
Proceeds from sale of properties	4.6	0.7
Acquisition of a business, net of cash acquired	(8.5)	0
Proceeds from sale of business, net of cash and cash equivalents sold	7.9	0
Net cash provided from investing activities	287.9	106
Cash flows — financing activities:
Proceeds from issuance of common stock	7.4	9.8
Principal payments on debt	(9.2)	(130)
Net borrowings (repayments) on revolving credit facilities	(30.4)	118.5
Net repayments on accounts receivable securitization program	(15)	0
Net change in client funds obligations	(141.6)	14
Common stock repurchased	(154.7)	(205.7)
Payment of cash dividends	(22.1)	(24.5)
Excess tax benefits from share-based compensation	3.9	4.6
Other, net	(0.2)	(0.2)
Net cash used for financing activities	(361.9)	(213.5)
Net increase (decrease) in cash and cash equivalents	(48.7)	20.8
Cash and cash equivalents, beginning of period	151.7	62.5
Cash and cash equivalents, end of period	$ 103	$ 83.3

Summary of Accounting Policies

Summary of Accounting Policies	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Accounting Policies	Summary of Accounting Policies The Condensed Consolidated Financial Statements of DST Systems, Inc. (“we”, “our”, “us”, the “Company” or “DST”) included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures are adequate to enable a reasonable understanding of the information presented. These Condensed Consolidated Financial Statements should be read in conjunction with our audited financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 . In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) necessary to fairly state the consolidated financial position and the results of operations, comprehensive income and cash flows for the periods presented. Certain amounts in the 2014 financial statements have been reclassified to conform to the 2015 presentation. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of the results to be expected for the full year 2015 . Segment presentation Beginning in 2015, we modified our reportable segment presentation to reflect changes in how we operate the business and make resource allocations. Certain operations, including the electronic presentment services for our financial services customers and our retirement plan participant communications and enrollment materials services, are now presented in the Financial Services segment rather than the Customer Communications segment. Additionally, real estate utilized principally by our business operations has been moved from our Investments and Other segment to the segment that utilizes the property. Real estate primarily occupied by third parties or unoccupied remains within the Investments and Other segment under the revised presentation. Prior periods have been revised to reflect the new reportable segments. New authoritative accounting guidance In April 2015, the Financial Accounting Standards Board (“FASB”) issued guidance which requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The guidance is effective January 1, 2016 with early adoption permitted. The guidance is a change in financial statement presentation only and will not have a material impact on the consolidated financial results. At June 30, 2015 , the Company had approximately $4.1 million of debt issuance costs, net included in Other assets in the Consolidated Balance Sheet. In April 2015, the FASB issued guidance that will help entities evaluate the accounting for fees paid in a cloud computing arrangement. The guidance is effective for annual reporting periods beginning after December 15, 2015. We do not expect the adoption of this new standard to have a material impact on our consolidated financial statements. In February 2015, the FASB issued an accounting standard update, “Consolidation (Topic 810) - Amendments to the Consolidation Analysis.” The new consolidation guidance changes the way reporting enterprises evaluate whether (a) they should consolidate limited partnerships and similar entities, (b) fees paid to a decision maker or service provider are variable interests in a Variable Interest Entity (“VIE”), and (c) variable interests in a VIE held by related parties of the reporting enterprise require the reporting enterprise to consolidate the VIE. It also eliminates the VIE consolidation model based on majority exposure to variability that applied to certain investment companies and similar entities. The guidance is effective for us beginning with the first quarter 2016. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the standard and the impact it will have on our consolidated financial statements. In May 2014, the FASB issued an accounting standard, “Revenue from Contracts with Customers,” which requires companies to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration it expects to be entitled in exchange for those goods or services. The new standard will become effective for us beginning with the first quarter 2018 and may be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. Early adoption of this standard is permitted as of January 2017. We are currently evaluating the standard, including which transition approach will be applied and the estimated impact it will have on the consolidated financial statements.

Investments

Investments	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments are as follows (in millions): Carrying Value June 30, December 31, Available-for-sale securities: State Street Corporation $ 168.0 $ 350.7 Other available-for-sale securities 115.6 124.8 283.6 475.5 Other: Trading securities 24.2 25.1 Cost method and other investments 145.8 156.0 170.0 181.1 Total investments $ 453.6 $ 656.6 Certain information related to our available-for-sale securities is as follows (in millions): June 30, December 31, Book cost basis $ 115.8 $ 140.2 Gross unrealized gains 169.5 336.6 Gross unrealized losses (1.7 ) (1.3 ) Market value $ 283.6 $ 475.5 At June 30, 2015 and December 31, 2014 , the carrying value of our available-for-sale investments was $283.6 million and $475.5 million , respectively. Deferred tax liabilities associated with the available-for-sale investments were approximately $69.2 million and $138.9 million at June 30, 2015 and December 31, 2014 , respectively. During the six months ended June 30, 2015 and 2014 , we received $224.5 million and $86.7 million , respectively, from the sale of investments in available-for-sale securities. Gross realized gains of $87.8 million and $2.1 million and gross realized losses of $0.9 million and $0.2 million were recorded during the three months ended June 30, 2015 and 2014 , respectively, from the sale of available-for-sale securities. Gross realized gains of $163.3 million and $48.2 million and gross realized losses of $2.4 million and $0.3 million were recorded during the six months ended June 30, 2015 and 2014 , respectively, from the sale of available-for-sale securities. A decline in an available-for-sale security’s net realizable value that is other than temporary is treated as a loss based on quoted or derived market value and is reflected in Other income, net in the Condensed Consolidated Statement of Income. We had no significant other than temporary losses in value for the three and six months ended June 30, 2015 and 2014 . The following table summarizes the fair value and gross unrealized losses of the Company’s investments by the length of time that the securities have been in a continuous loss position at June 30, 2015 and December 31, 2014 (in millions): Less than 12 months Greater than 12 months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2015 Common stock $ 31.5 $ 1.7 $ — $ — $ 31.5 $ 1.7 December 31, 2014 Common stock $ 17.1 $ 1.3 $ — $ — $ 17.1 $ 1.3 We are a limited partner in various private equity funds which are primarily accounted for using the cost method. At June 30, 2015 and December 31, 2014 , our carrying value of these private equity fund investments was approximately $131.2 million and $141.4 million , respectively. At June 30, 2015 , we had future capital commitments related to these private equity fund investments of approximately $5.2 million . Additionally, we have other investments with a carrying value of $14.6 million at both June 30, 2015 and December 31, 2014 . We record lower of cost or market valuation adjustments on cost method and other investments when impairment conditions, such as adverse market conditions or poor performance of the underlying investment, are present. We recorded no impairments on cost method and other investments during the three and six months ended June 30, 2015 and recorded $1.3 million and $1.6 million of impairments during the three and six months ended June 30, 2014 , respectively.

Unconsolidated Affiliates

Unconsolidated Affiliates	6 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Unconsolidated Affiliates	Unconsolidated Affiliates Investments in unconsolidated affiliates are as follows (in millions): Carrying Value Ownership Percentage June 30, December 31, International Financial Data Services (U.K. and L.P.) 50% $ 201.7 $ 186.0 Boston Financial Data Services, Inc. 50% 80.1 77.6 Unconsolidated real estate and other affiliates 29.3 35.1 Total $ 311.1 $ 298.7 Equity in earnings of unconsolidated affiliates are as follows (in millions): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 International Financial Data Services (U.K. and L.P.) $ 9.7 $ 1.0 $ 17.0 $ 3.1 Boston Financial Data Services, Inc. 1.1 1.2 2.5 3.0 Unconsolidated real estate and other affiliates 2.0 7.4 8.2 8.9 Total $ 12.8 $ 9.6 $ 27.7 $ 15.0

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Authoritative accounting guidance on fair value measurements establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. As of June 30, 2015 and December 31, 2014 , we held certain investment assets and certain liabilities that are required to be measured at fair value on a recurring basis. These investment assets include our money market funds, available-for-sale equity securities and trading securities whereby fair value is determined using quoted prices in active markets. Accordingly, the fair value measurements of these investments have been classified as Level 1. Fair value for deferred compensation liabilities that are credited with deemed gains or losses of the underlying hypothetical investments, primarily equity securities, have been classified as Level 1. In addition, we have investments in pooled funds and interest rate and foreign currency derivative instruments that are required to be reported at fair value. Fair value for investments in pooled funds is determined using net asset value. Fair value for the derivative instruments was determined using inputs from quoted prices for similar assets and liabilities in active markets that are directly or indirectly observable. Accordingly, our investments in pooled funds and derivative instruments have been classified as Level 2. The following tables present assets and liabilities measured at fair value on a recurring basis (in millions): Fair Value Measurements at Reporting Date Using June 30, Quoted prices in Active Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market funds (1) $ 165.4 $ 165.4 $ — $ — Equity securities (2) 307.8 307.8 — — Pooled funds (2) 5.4 — 5.4 — Deferred compensation liabilities (3) (24.2 ) (24.2 ) — — Derivative instruments (3) (0.4 ) — (0.4 ) — Total $ 454.0 $ 449.0 $ 5.0 $ — Fair Value Measurements at Reporting Date Using December 31, Quoted prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market funds (1) $ 141.0 $ 141.0 $ — $ — Equity securities (2) 500.6 500.6 — — Pooled funds (2) 5.6 — 5.6 — Deferred compensation liabilities (3) (25.1 ) (25.1 ) — — Derivative instruments (3) (0.5 ) — (0.5 ) — Total $ 621.6 $ 616.5 $ 5.1 $ — _____________________________________________________ (1) Included in Cash and cash equivalents and Funds held on behalf of clients on the Condensed Consolidated Balance Sheet. (2) Included in Investments on the Condensed Consolidated Balance Sheet. (3) Included in Other liabilities on the Condensed Consolidated Balance Sheet.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible assets The following table summarizes intangible assets (in millions): June 30, 2015 December 31, 2014 Carrying Amount Accumulated Amortization Carrying Amount Accumulated Amortization Amortizable intangible assets Customer relationships $ 165.0 $ 63.6 $ 165.0 $ 57.8 Other 29.9 16.0 29.9 14.6 Total $ 194.9 $ 79.6 $ 194.9 $ 72.4 Amortization expense of intangible assets for three and six months ended June 30, 2015 was approximately $3.6 million and $7.2 million , respectively, as compared to $3.8 million and $7.6 million for the three and six months ended June 30, 2014 , respectively. The following table summarizes the estimated annual amortization for intangible assets recorded as of June 30, 2015 (in millions): Remainder of 2015 $ 7.1 2016 14.1 2017 14.0 2018 13.8 2019 13.1 Thereafter 53.2 Total $ 115.3 Goodwill The following table summarizes the changes in the carrying amount of goodwill for the six months ended June 30, 2015 , by segment (in millions): December 31, Acquisitions Disposals Other June 30, Financial Services $ 234.4 $ 9.9 $ — $ (4.9 ) $ 239.4 Healthcare Services 155.0 — — — 155.0 Customer Communications 25.3 — — 0.1 25.4 Total $ 414.7 $ 9.9 $ — $ (4.8 ) $ 419.8 Due to the new segment reporting effective as of January 1, 2015, goodwill of approximately $6.7 million was reallocated from the Customer Communications segment to the Financial Services segment based on the relative fair values of the businesses transferred. Prior period amounts above have been revised to reflect the reallocated goodwill.

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt We are obligated under notes and other indebtedness as follows (in millions): June 30, December 31, Accounts receivable securitization program $ 105.0 $ 120.0 Revolving credit facilities 13.9 44.3 Senior notes 370.0 370.0 Related party credit agreements 2.6 3.7 Other indebtedness 6.7 14.9 498.2 552.9 Less current portion of debt 151.7 167.3 Long-term debt $ 346.5 $ 385.6 Accounts receivable securitization program We securitize certain of our domestic accounts receivable through an accounts receivable securitization program with a third-party bank. The maximum amount that can be outstanding under this program is $150.0 million . In May 2015, the Company renewed its accounts receivable securitization program. The facility will expire by its terms in May 2018, unless renewed. The outstanding amount under the program was $105.0 million and $120.0 million at June 30, 2015 and December 31, 2014 , respectively. During the six months ended June 30, 2015 and 2014 , total proceeds from the accounts receivable securitization program were approximately $499.6 million and $505.1 million , respectively, and total repayments were approximately $514.6 million and $505.1 million , respectively. Revolving credit facilities At June 30, 2015 , the syndicated line of credit facility provides for revolving unsecured credit in an aggregate principal amount of up to $850.0 million . During the six months ended June 30, 2015 and 2014 , total proceeds from our revolving credit facilities were approximately $377.8 million and $521.2 million , respectively, and total repayments were approximately $408.2 million and $402.7 million respectively, which comprise the net cash flows presented within the financing section of the Condensed Consolidated Statement of Cash Flows. Fair value Based upon the borrowing rates currently available to us for indebtedness with similar terms and average maturities, the carrying value of long-term debt, with the exception of the Senior Notes, is considered to approximate fair value. The estimated fair values of the Senior Notes were derived principally from quoted prices for similar financial instruments (Level 2 in the fair value hierarchy). As of June 30, 2015 and December 31, 2014 , the carrying values and estimated fair values of the Senior Notes were as follows (in millions): June 30, 2015 December 31, 2014 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Senior notes - Series A $ 40.0 $ 40.1 $ 40.0 $ 40.5 Senior notes - Series B 105.0 109.8 105.0 110.5 Senior notes - Series C 65.0 68.9 65.0 69.3 Senior notes - Series D 160.0 173.3 160.0 174.7 Total $ 370.0 $ 392.1 $ 370.0 $ 395.0

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We record income tax expense during interim periods based on our best estimate of the full year’s tax rate as adjusted for discrete items, if any, that are taken into account in the relevant interim period. Each quarter, we update our estimate of the annual effective tax rate and any change in the estimated rate is recorded on a cumulative basis. Our tax rate was 36.0% and 36.5% for the three and six months ended June 30, 2015 , respectively, compared to 32.8% and 34.8% for the three and six months ended June 30, 2014 , respectively. Our estimated annual effective full year 2015 tax rate will vary from the statutory federal rate primarily as a result of variances among the estimates and actual amounts of full year sources of taxable income (e.g., domestic consolidated, joint venture and/or international), the realization of tax credits (e.g., research and experimentation, foreign tax and state incentive), adjustments which may arise from the resolution of tax matters under review and our assessment of our liability for uncertain tax positions.

Equity

Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Equity	Equity Earnings per share The computation of basic and diluted earnings per share is as follows (in millions, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net income $ 107.5 $ 137.8 $ 215.3 $ 238.2 Weighted average common shares outstanding 36.6 40.9 36.9 41.4 Incremental shares from restricted stock units and stock options 0.4 0.3 0.4 0.4 Weighted average diluted shares outstanding 37.0 41.2 37.3 41.8 Basic earnings per share $ 2.94 $ 3.37 $ 5.84 $ 5.75 Diluted earnings per share $ 2.91 $ 3.34 $ 5.78 $ 5.70 We had approximately 36.4 million and 39.7 million common shares outstanding at June 30, 2015 and 2014 , respectively. No shares from options to purchase common stock were excluded from the diluted earnings per share calculation because they were anti-dilutive for the three and six months ended June 30, 2015 and 2014 . Share based compensation We have share based compensation plans covering our employees and non-employee directors. During the six months ended June 30, 2015 , we granted approximately 0.3 million restricted stock units (“RSU’s”), of which approximately 0.2 million are performance stock units. Additionally, during the six months ended June 30, 2015 , we had 0.1 million RSU’s vest as the result of the completion of the service requirements or achievement of the service and performance features of the awards, as applicable. At June 30, 2015 , we had 0.9 million unvested RSU’s and 0.5 million stock options outstanding. We recognized share based compensation expense of $7.5 million and $14.4 million during the three and six months ended June 30, 2015 , respectively, as compared to $6.0 million and $10.3 million during the three and six months ended June 30, 2014 , respectively. At June 30, 2015 , we had $51.8 million of unrecognized compensation expense related to our share based compensation arrangements, net of estimated forfeitures. We estimate that compensation expense recognition attributable to currently outstanding stock option and restricted stock unit grants will be approximately $15.6 million for the remainder of 2015, $16.8 million for 2016, $6.3 million for 2017 and $1.1 million for 2018. Future expense recognition is not projected on approximately $12.0 million of unrecognized compensation expense as the related awards are not currently expected to achieve their required performance features and therefore not expected to vest. Other comprehensive income (loss) Accumulated other comprehensive income balances consist of the following (in millions), net of tax: Unrealized Gain on Available-for-Sale Securities Unrealized Loss on Cash Flow Hedges Foreign Currency Translation Adjustments Accumulated Other Comprehensive Income Balance, December 31, 2014 $ 207.2 $ (0.3 ) $ (20.0 ) $ 186.9 Net current period other comprehensive income (loss) (103.5 ) 0.2 (4.4 ) (107.7 ) Balance, June 30, 2015 $ 103.7 $ (0.1 ) $ (24.4 ) $ 79.2 Additions to and reclassifications out of accumulated other comprehensive income attributable to the Company: Three Months Ended June 30, 2015 2014 Pretax Net of Tax Pretax Net of Tax Available-for-sale securities Unrealized gains (losses) on available-for-sale securities $ 11.8 $ 8.4 $ (12.0 ) $ (7.3 ) Reclassification of gains into net earnings on available-for-sale securities (1) (86.9 ) (54.5 ) (1.9 ) (1.2 ) Net change in available-for-sale securities (75.1 ) (46.1 ) (13.9 ) (8.5 ) Cash flow hedges Unrealized gains on cash flow hedges (0.1 ) — 0.3 0.2 Reclassification of losses into net earnings on foreign currency cash flow hedges (2) 0.1 0.1 — — Net change in cash flow hedges — 0.1 0.3 0.2 Cumulative translation adjustments 5.9 5.9 1.7 1.7 Total other comprehensive loss $ (69.2 ) $ (40.1 ) $ (11.9 ) $ (6.6 ) Six Months Ended June 30, 2015 2014 Pretax Net of Tax Pretax Net of Tax Available-for-sale securities Unrealized losses on available-for-sale securities $ (6.4 ) $ (3.8 ) $ (33.0 ) $ (20.7 ) Reclassification of gains into net earnings on available-for-sale securities (1) (160.9 ) (99.7 ) (47.9 ) (29.2 ) Net change in available-for-sale securities (167.3 ) (103.5 ) (80.9 ) (49.9 ) Cash flow hedges Unrealized gains on cash flow hedges — — 0.3 0.2 Reclassification of losses into net earnings on foreign currency cash flow hedges (2) 0.2 0.2 0.2 0.2 Net change in cash flow hedges 0.2 0.2 0.5 0.4 Cumulative translation adjustments (4.4 ) (4.4 ) 2.1 2.1 Total other comprehensive loss $ (171.5 ) $ (107.7 ) $ (78.3 ) $ (47.4 ) _______________________________________________________________ (1) Realized (gains)/losses on available-for-sale securities are recognized in Other income, net on the Condensed Consolidated Statement of Income. (2) Reclassification to net earnings of derivatives qualifying as effective foreign currency cash flow hedges are recognized in Costs and expenses on the Condensed Consolidated Statement of Income. One of our unconsolidated affiliates had an interest rate swap liability with a fair market value of $45.4 million and $50.2 million at June 30, 2015 and December 31, 2014 , respectively. The unconsolidated affiliate used inputs from quoted prices for similar assets and liabilities in active markets that are directly or indirectly observable relating to the measurement of the interest rate swap. Our 50% proportionate share of this interest rate swap liability was $22.7 million and $25.1 million at June 30, 2015 and December 31, 2014 , respectively. We record our proportionate share of this liability in an amount not to exceed the carrying value of our investment in this unconsolidated affiliate. Because the carrying value of this unconsolidated affiliate investment balance was zero at both June 30, 2015 and December 31, 2014 , no change in the interest rate swap liability was recorded in the Condensed Consolidated Financial Statements. Stock repurchases During the six months ended June 30, 2015 , we repurchased approximately 1.4 million shares of DST common stock for $150.0 million under our share repurchase plans. Additionally, during July 2015, we spent $75.0 million to repurchase 0.6 million shares. On July 29, 2015 our Board of Directors authorized an additional $250.0 million of share repurchases which is incremental to the existing plan. As of July 31, 2015, there was approximately $325.0 million remaining under the amended share repurchase plan. Shares received in exchange for satisfaction of the option exercise price and for tax withholding obligations arising from the exercise of options to purchase the Company’s stock or from the vesting of restricted stock shares are included in common stock repurchased in the Condensed Consolidated Statement of Cash Flows. The amount of such share receipts and withholdings for option exercises and restricted stock vesting was $4.7 million and $5.7 million during the six months ended June 30, 2015 and 2014 , respectively. Dividends Our Board of Directors declared a quarterly cash dividend of $0.30 per common share during the first and second quarter of 2015. Total dividends paid for the six months ended June 30, 2015 were $22.1 million , of which $11.0 million were paid in June 2015 and $11.1 million were paid in March 2015. On July 29, 2015, our Board of Directors declared a quarterly dividend of $0.30 per common share, payable September 11, 2015, to shareholders of record at the close of business on August 28, 2015.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We have letters of credit and bank guarantees of $10.0 million and $9.6 million outstanding at June 30, 2015 and December 31, 2014 , respectively. Letters of credit are secured by our debt facilities. We have entered into agreements with certain officers whereby upon defined circumstances constituting a change in control of the Company, certain benefit entitlements are automatically funded and such officers are entitled to specific cash payments upon termination of employment. Additionally, we have adopted the DST Systems, Inc. Executive Severance Plan which provides certain benefits to participants in the event of a qualifying termination under the plan. We are involved in various legal proceedings arising in the normal course of our businesses. While the ultimate outcome of these legal proceedings cannot be predicted with certainty, it is the opinion of management, after consultation with legal counsel, that the final outcome in such proceedings, in the aggregate, would not have a material adverse effect on our consolidated financial condition, results of operations or cash flows. In the normal course of business, to facilitate transactions of services and products and other business assets, we have agreed to indemnify certain parties with respect to certain matters. We have agreed to hold certain parties harmless against losses arising from a breach of representations or covenants, intellectual property infringement or other claims made by third parties. These agreements may limit the time period in which an indemnification claim can be made and the amount of the claim. Except for a $2.1 million liability established in connection with the indemnification of certain matters associated with the sale of a business and an $0.7 million liability recorded associated with a performance guarantee on a franchise agreement, which were both accrued at June 30, 2015 and December 31, 2014 , no liabilities have been established for guarantees or indemnifications as it is not possible to determine either the maximum potential amount under these indemnification agreements or the timing of any such payments due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made under these agreements have not had a material impact on our consolidated financial position, results of operations or cash flows. On July 31, 2015, we acquired 100% of the equity interests of asset manager Red Rocks Capital LLC, a leader in listed private equity and other private asset investments, for $45.0 million of upfront cash consideration and up to $20.0 million of performance related contingent consideration. The acquisition provides us additional opportunities within the alternative investments marketplace to enhance our ongoing asset management strategy. We have not finalized the valuation of the assets acquired and, as a result, have not finalized the determination of the fair value of assets acquired and liabilities assumed. On July 9, 2015, we agreed to acquire Wealth Management Systems Inc., a leading provider of technology-based rollover services, for $64.0 million . Wealth Management Systems Inc. automates the migration of assets from retirement plans to investment management platforms, helping asset managers and broker-dealers grow and retain assets in the retirement marketplace. The closing of this transaction, which is subject to regulatory approvals and other closing conditions, is expected to occur before the end of 2015.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information Our operating business units offer sophisticated information processing and software services and products. We present these businesses as three operating segments, Financial Services, Healthcare Services and Customer Communications. Investments in our equity securities, private equity investments, real estate and certain financial interests are included in the Investments and Other segment. As mentioned in Note 1, beginning in 2015, we modified our reportable segment presentation to reflect changes in how our chief operating decision maker (“CODM”) now operates the business and makes resource allocations. Due to modifications in how we manage our businesses, certain operations, including the electronic presentment services for our financial services customers and our retirement plan participant communications and enrollment materials services, are now presented in the Financial Services Segment rather than the Customer Communications Segment. Additionally, real estate utilized principally by our business operations has been moved from our Investments and Other Segment to the segment that utilizes the property. Real estate primarily occupied by third parties or unoccupied remains within the Investments and Other Segment under the revised presentation. Prior periods have been revised to reflect the new reportable segments. Information concerning total assets by reporting segment is as follows (in millions): June 30, December 31, Financial Services $ 1,166.7 $ 1,428.2 Healthcare Services 364.3 391.3 Customer Communications 422.9 384.0 Investments and Other 610.7 741.9 Elimination Adjustments (1.4 ) (2.5 ) $ 2,563.2 $ 2,942.9 We evaluate the performance of our operating segments based on income before income taxes and interest expense. Intersegment revenues are reflected at rates prescribed by us and may not be reflective of market rates. Summarized financial information concerning our segments, including historical annual information revised to reflect the new segment realignment, is shown in the following tables (in millions): Three Months Ended June 30, 2015 Financial Services Healthcare Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total Operating revenues $ 258.1 $ 92.1 $ 149.5 $ 0.7 $ — $ 500.4 Intersegment operating revenues 13.0 — 5.3 — (18.3 ) — Out-of-pocket reimbursements 14.2 1.6 180.6 — (2.3 ) 194.1 Total revenues 285.3 93.7 335.4 0.7 (20.6 ) 694.5 Costs and expenses 225.7 78.9 311.1 0.5 (20.6 ) 595.6 Depreciation and amortization 17.1 4.6 8.0 0.1 — 29.8 Income from operations 42.5 10.2 16.3 0.1 — 69.1 Other income, net 0.4 0.1 0.1 91.7 — 92.3 Equity in earnings of unconsolidated affiliates 10.8 — 0.1 1.9 — 12.8 Earnings before interest and income taxes $ 53.7 $ 10.3 $ 16.5 $ 93.7 $ — $ 174.2 Three Months Ended June 30, 2014 Financial Services Healthcare Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total Operating revenues $ 268.7 $ 92.9 $ 145.9 $ 2.1 $ — $ 509.6 Intersegment operating revenues 12.7 — 6.6 0.2 (19.5 ) — Out-of-pocket reimbursements 14.7 1.6 156.5 0.1 (3.0 ) 169.9 Total revenues 296.1 94.5 309.0 2.4 (22.5 ) 679.5 Costs and expenses 225.2 83.0 288.8 1.6 (22.5 ) 576.1 Depreciation and amortization 17.5 4.8 9.4 0.4 — 32.1 Income from operations 53.4 6.7 10.8 0.4 — 71.3 Other income, net 17.9 — 0.1 113.2 — 131.2 Equity in earnings of unconsolidated affiliates 7.8 0.2 0.2 1.4 — 9.6 Earnings before interest and income taxes $ 79.1 $ 6.9 $ 11.1 $ 115.0 $ — $ 212.1 Earnings before interest and income taxes in the segment reporting information above less interest expense of $6.1 million and $7.0 million for the three months ended June 30, 2015 and 2014 is equal to our income before income taxes on a consolidated basis for the corresponding periods. Six Months Ended June 30, 2015 Financial Services Healthcare Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total Operating revenues $ 508.6 $ 184.0 $ 302.1 $ 1.4 $ — $ 996.1 Intersegment operating revenues 29.1 — 12.8 — (41.9 ) — Out-of-pocket reimbursements 31.2 3.5 372.6 — (6.6 ) 400.7 Total revenues 568.9 187.5 687.5 1.4 (48.5 ) 1,396.8 Costs and expenses 445.7 159.2 634.8 (1.8 ) (48.5 ) 1,189.4 Depreciation and amortization 33.7 9.2 15.9 0.4 — 59.2 Income from operations 89.5 19.1 36.8 2.8 — 148.2 Other income (loss), net (1.0 ) 0.1 0.1 176.4 — 175.6 Equity in earnings of unconsolidated affiliates 19.5 0.1 0.3 7.8 — 27.7 Earnings before interest and income taxes $ 108.0 $ 19.3 $ 37.2 $ 187.0 $ — $ 351.5 Six Months Ended June 30, 2014 Financial Services Healthcare Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total Operating revenues $ 527.6 $ 184.9 $ 298.2 $ 4.1 $ — $ 1,014.8 Intersegment operating revenues 25.6 — 13.2 0.5 (39.3 ) — Out-of-pocket reimbursements 30.8 3.0 320.5 0.1 (5.9 ) 348.5 Total revenues 584.0 187.9 631.9 4.7 (45.2 ) 1,363.3 Costs and expenses 455.2 159.8 586.9 3.1 (45.2 ) 1,159.8 Depreciation and amortization 35.2 9.7 18.5 0.7 — 64.1 Income from operations 93.6 18.4 26.5 0.9 — 139.4 Other income, net 20.1 — 0.2 204.5 — 224.8 Equity in earnings of unconsolidated affiliates 11.7 0.3 0.6 2.4 — 15.0 Earnings before interest and income taxes $ 125.4 $ 18.7 $ 27.3 $ 207.8 $ — $ 379.2 Earnings before interest and income taxes in the segment reporting information above less interest expense of $12.2 million and $13.6 million for the six months ended June 30, 2015 and 2014 is equal to our income before income taxes on a consolidated basis for the corresponding periods. Year Ended December 31, 2014 Financial Healthcare Customer Investments / Elimination Consolidated Operating revenues $ 1,063.4 $ 382.2 $ 589.3 $ 7.1 $ — $ 2,042.0 Intersegment operating revenues 54.1 — 26.9 0.5 (81.5 ) — Out-of-pocket reimbursements 60.5 6.8 652.2 0.2 (12.4 ) 707.3 Total revenues 1,178.0 389.0 1,268.4 7.8 (93.9 ) 2,749.3 Costs and expenses 903.9 308.5 1,184.8 6.1 (93.9 ) 2,309.4 Depreciation and amortization 72.4 19.5 37.8 1.3 — 131.0 Income from operations 201.7 61.0 45.8 0.4 — 308.9 Gain on sale of sale of business 100.5 — — — — 100.5 Other income, net 19.5 0.1 0.4 353.5 — 373.5 Equity in earnings of unconsolidated affiliates 29.8 0.5 0.7 4.4 — 35.4 Earnings before interest and income taxes $ 351.5 $ 61.6 $ 46.9 $ 358.3 $ — $ 818.3 Year Ended December 31, 2013 Financial Healthcare Customer Investments / Elimination Consolidated Operating revenues $ 1,015.7 $ 333.3 $ 602.7 $ 8.9 $ — $ 1,960.6 Intersegment operating revenues 47.6 — 22.4 1.0 (71.0 ) — Out-of-pocket reimbursements 51.3 6.2 648.5 0.1 (8.1 ) 698.0 Total revenues 1,114.6 339.5 1,273.6 10.0 (79.1 ) 2,658.6 Costs and expenses 820.8 270.5 1,188.6 1.3 (79.1 ) 2,202.1 Depreciation and amortization 69.1 19.3 44.1 10.8 — 143.3 Income (loss) from operations 224.7 49.7 40.9 (2.1 ) — 313.2 Other income, net 3.3 0.3 0.2 239.4 — 243.2 Equity in earnings of unconsolidated affiliates 16.8 0.4 0.3 5.5 — 23.0 Earnings before interest and income taxes $ 244.8 $ 50.4 $ 41.4 $ 242.8 $ — $ 579.4 Earnings before interest and income taxes in the segment reporting information above less interest expense of $26.6 million and $34.5 million for the years ended December 31, 2014 and 2013 is equal to our income before income taxes on a consolidated basis for the corresponding periods.

Summary of Accounting Policies

Summary of Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New authoritative accounting guidance	New authoritative accounting guidance In April 2015, the Financial Accounting Standards Board (“FASB”) issued guidance which requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The guidance is effective January 1, 2016 with early adoption permitted. The guidance is a change in financial statement presentation only and will not have a material impact on the consolidated financial results. At June 30, 2015 , the Company had approximately $4.1 million of debt issuance costs, net included in Other assets in the Consolidated Balance Sheet. In April 2015, the FASB issued guidance that will help entities evaluate the accounting for fees paid in a cloud computing arrangement. The guidance is effective for annual reporting periods beginning after December 15, 2015. We do not expect the adoption of this new standard to have a material impact on our consolidated financial statements. In February 2015, the FASB issued an accounting standard update, “Consolidation (Topic 810) - Amendments to the Consolidation Analysis.” The new consolidation guidance changes the way reporting enterprises evaluate whether (a) they should consolidate limited partnerships and similar entities, (b) fees paid to a decision maker or service provider are variable interests in a Variable Interest Entity (“VIE”), and (c) variable interests in a VIE held by related parties of the reporting enterprise require the reporting enterprise to consolidate the VIE. It also eliminates the VIE consolidation model based on majority exposure to variability that applied to certain investment companies and similar entities. The guidance is effective for us beginning with the first quarter 2016. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the standard and the impact it will have on our consolidated financial statements. In May 2014, the FASB issued an accounting standard, “Revenue from Contracts with Customers,” which requires companies to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration it expects to be entitled in exchange for those goods or services. The new standard will become effective for us beginning with the first quarter 2018 and may be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. Early adoption of this standard is permitted as of January 2017. We are currently evaluating the standard, including which transition approach will be applied and the estimated impact it will have on the consolidated financial statements.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of investments	Investments are as follows (in millions): Carrying Value June 30, December 31, Available-for-sale securities: State Street Corporation $ 168.0 $ 350.7 Other available-for-sale securities 115.6 124.8 283.6 475.5 Other: Trading securities 24.2 25.1 Cost method and other investments 145.8 156.0 170.0 181.1 Total investments $ 453.6 $ 656.6
Schedule of reconciliation of available-for-sale securities from book cost basis to market value	Certain information related to our available-for-sale securities is as follows (in millions): June 30, December 31, Book cost basis $ 115.8 $ 140.2 Gross unrealized gains 169.5 336.6 Gross unrealized losses (1.7 ) (1.3 ) Market value $ 283.6 $ 475.5
Schedule of fair value and gross unrealized losses of investments by length of time in a continuous loss position	The following table summarizes the fair value and gross unrealized losses of the Company’s investments by the length of time that the securities have been in a continuous loss position at June 30, 2015 and December 31, 2014 (in millions): Less than 12 months Greater than 12 months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2015 Common stock $ 31.5 $ 1.7 $ — $ — $ 31.5 $ 1.7 December 31, 2014 Common stock $ 17.1 $ 1.3 $ — $ — $ 17.1 $ 1.3

Unconsolidated Affiliates (Tabl

Unconsolidated Affiliates (Tables)	6 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Schedule of unconsolidated affiliates	Investments in unconsolidated affiliates are as follows (in millions): Carrying Value Ownership Percentage June 30, December 31, International Financial Data Services (U.K. and L.P.) 50% $ 201.7 $ 186.0 Boston Financial Data Services, Inc. 50% 80.1 77.6 Unconsolidated real estate and other affiliates 29.3 35.1 Total $ 311.1 $ 298.7
Schedule of equity in earnings (losses) of unconsolidated affiliates	Equity in earnings of unconsolidated affiliates are as follows (in millions): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 International Financial Data Services (U.K. and L.P.) $ 9.7 $ 1.0 $ 17.0 $ 3.1 Boston Financial Data Services, Inc. 1.1 1.2 2.5 3.0 Unconsolidated real estate and other affiliates 2.0 7.4 8.2 8.9 Total $ 12.8 $ 9.6 $ 27.7 $ 15.0

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	The following tables present assets and liabilities measured at fair value on a recurring basis (in millions): Fair Value Measurements at Reporting Date Using June 30, Quoted prices in Active Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market funds (1) $ 165.4 $ 165.4 $ — $ — Equity securities (2) 307.8 307.8 — — Pooled funds (2) 5.4 — 5.4 — Deferred compensation liabilities (3) (24.2 ) (24.2 ) — — Derivative instruments (3) (0.4 ) — (0.4 ) — Total $ 454.0 $ 449.0 $ 5.0 $ — Fair Value Measurements at Reporting Date Using December 31, Quoted prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market funds (1) $ 141.0 $ 141.0 $ — $ — Equity securities (2) 500.6 500.6 — — Pooled funds (2) 5.6 — 5.6 — Deferred compensation liabilities (3) (25.1 ) (25.1 ) — — Derivative instruments (3) (0.5 ) — (0.5 ) — Total $ 621.6 $ 616.5 $ 5.1 $ — _____________________________________________________ (1) Included in Cash and cash equivalents and Funds held on behalf of clients on the Condensed Consolidated Balance Sheet. (2) Included in Investments on the Condensed Consolidated Balance Sheet. (3) Included in Other liabilities on the Condensed Consolidated Balance Sheet.

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	The following table summarizes intangible assets (in millions): June 30, 2015 December 31, 2014 Carrying Amount Accumulated Amortization Carrying Amount Accumulated Amortization Amortizable intangible assets Customer relationships $ 165.0 $ 63.6 $ 165.0 $ 57.8 Other 29.9 16.0 29.9 14.6 Total $ 194.9 $ 79.6 $ 194.9 $ 72.4
Schedule of estimated annual amortization for intangible assets	The following table summarizes the estimated annual amortization for intangible assets recorded as of June 30, 2015 (in millions): Remainder of 2015 $ 7.1 2016 14.1 2017 14.0 2018 13.8 2019 13.1 Thereafter 53.2 Total $ 115.3
Schedule of changes in the carrying amount of goodwill	The following table summarizes the changes in the carrying amount of goodwill for the six months ended June 30, 2015 , by segment (in millions): December 31, Acquisitions Disposals Other June 30, Financial Services $ 234.4 $ 9.9 $ — $ (4.9 ) $ 239.4 Healthcare Services 155.0 — — — 155.0 Customer Communications 25.3 — — 0.1 25.4 Total $ 414.7 $ 9.9 $ — $ (4.8 ) $ 419.8

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of the Company's obligations and other indebtedness	We are obligated under notes and other indebtedness as follows (in millions): June 30, December 31, Accounts receivable securitization program $ 105.0 $ 120.0 Revolving credit facilities 13.9 44.3 Senior notes 370.0 370.0 Related party credit agreements 2.6 3.7 Other indebtedness 6.7 14.9 498.2 552.9 Less current portion of debt 151.7 167.3 Long-term debt $ 346.5 $ 385.6
Schedule of Carrying and Fair Value of the Senior Notes	As of June 30, 2015 and December 31, 2014 , the carrying values and estimated fair values of the Senior Notes were as follows (in millions): June 30, 2015 December 31, 2014 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Senior notes - Series A $ 40.0 $ 40.1 $ 40.0 $ 40.5 Senior notes - Series B 105.0 109.8 105.0 110.5 Senior notes - Series C 65.0 68.9 65.0 69.3 Senior notes - Series D 160.0 173.3 160.0 174.7 Total $ 370.0 $ 392.1 $ 370.0 $ 395.0

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of basic and diluted earnings per share	The computation of basic and diluted earnings per share is as follows (in millions, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net income $ 107.5 $ 137.8 $ 215.3 $ 238.2 Weighted average common shares outstanding 36.6 40.9 36.9 41.4 Incremental shares from restricted stock units and stock options 0.4 0.3 0.4 0.4 Weighted average diluted shares outstanding 37.0 41.2 37.3 41.8 Basic earnings per share $ 2.94 $ 3.37 $ 5.84 $ 5.75 Diluted earnings per share $ 2.91 $ 3.34 $ 5.78 $ 5.70
Schedule of accumulated other comprehensive income	Accumulated other comprehensive income balances consist of the following (in millions), net of tax: Unrealized Gain on Available-for-Sale Securities Unrealized Loss on Cash Flow Hedges Foreign Currency Translation Adjustments Accumulated Other Comprehensive Income Balance, December 31, 2014 $ 207.2 $ (0.3 ) $ (20.0 ) $ 186.9 Net current period other comprehensive income (loss) (103.5 ) 0.2 (4.4 ) (107.7 ) Balance, June 30, 2015 $ 103.7 $ (0.1 ) $ (24.4 ) $ 79.2
Additions to and reclassification out of accumulated other comprehensive income	Additions to and reclassifications out of accumulated other comprehensive income attributable to the Company: Three Months Ended June 30, 2015 2014 Pretax Net of Tax Pretax Net of Tax Available-for-sale securities Unrealized gains (losses) on available-for-sale securities $ 11.8 $ 8.4 $ (12.0 ) $ (7.3 ) Reclassification of gains into net earnings on available-for-sale securities (1) (86.9 ) (54.5 ) (1.9 ) (1.2 ) Net change in available-for-sale securities (75.1 ) (46.1 ) (13.9 ) (8.5 ) Cash flow hedges Unrealized gains on cash flow hedges (0.1 ) — 0.3 0.2 Reclassification of losses into net earnings on foreign currency cash flow hedges (2) 0.1 0.1 — — Net change in cash flow hedges — 0.1 0.3 0.2 Cumulative translation adjustments 5.9 5.9 1.7 1.7 Total other comprehensive loss $ (69.2 ) $ (40.1 ) $ (11.9 ) $ (6.6 ) Six Months Ended June 30, 2015 2014 Pretax Net of Tax Pretax Net of Tax Available-for-sale securities Unrealized losses on available-for-sale securities $ (6.4 ) $ (3.8 ) $ (33.0 ) $ (20.7 ) Reclassification of gains into net earnings on available-for-sale securities (1) (160.9 ) (99.7 ) (47.9 ) (29.2 ) Net change in available-for-sale securities (167.3 ) (103.5 ) (80.9 ) (49.9 ) Cash flow hedges Unrealized gains on cash flow hedges — — 0.3 0.2 Reclassification of losses into net earnings on foreign currency cash flow hedges (2) 0.2 0.2 0.2 0.2 Net change in cash flow hedges 0.2 0.2 0.5 0.4 Cumulative translation adjustments (4.4 ) (4.4 ) 2.1 2.1 Total other comprehensive loss $ (171.5 ) $ (107.7 ) $ (78.3 ) $ (47.4 ) _______________________________________________________________ (1) Realized (gains)/losses on available-for-sale securities are recognized in Other income, net on the Condensed Consolidated Statement of Income. (2) Reclassification to net earnings of derivatives qualifying as effective foreign currency cash flow hedges are recognized in Costs and expenses on the Condensed Consolidated Statement of Income.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of total assets by reporting segment	Information concerning total assets by reporting segment is as follows (in millions): June 30, December 31, Financial Services $ 1,166.7 $ 1,428.2 Healthcare Services 364.3 391.3 Customer Communications 422.9 384.0 Investments and Other 610.7 741.9 Elimination Adjustments (1.4 ) (2.5 ) $ 2,563.2 $ 2,942.9
Schedule of financial information concerning segments	Summarized financial information concerning our segments, including historical annual information revised to reflect the new segment realignment, is shown in the following tables (in millions): Three Months Ended June 30, 2015 Financial Services Healthcare Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total Operating revenues $ 258.1 $ 92.1 $ 149.5 $ 0.7 $ — $ 500.4 Intersegment operating revenues 13.0 — 5.3 — (18.3 ) — Out-of-pocket reimbursements 14.2 1.6 180.6 — (2.3 ) 194.1 Total revenues 285.3 93.7 335.4 0.7 (20.6 ) 694.5 Costs and expenses 225.7 78.9 311.1 0.5 (20.6 ) 595.6 Depreciation and amortization 17.1 4.6 8.0 0.1 — 29.8 Income from operations 42.5 10.2 16.3 0.1 — 69.1 Other income, net 0.4 0.1 0.1 91.7 — 92.3 Equity in earnings of unconsolidated affiliates 10.8 — 0.1 1.9 — 12.8 Earnings before interest and income taxes $ 53.7 $ 10.3 $ 16.5 $ 93.7 $ — $ 174.2 Three Months Ended June 30, 2014 Financial Services Healthcare Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total Operating revenues $ 268.7 $ 92.9 $ 145.9 $ 2.1 $ — $ 509.6 Intersegment operating revenues 12.7 — 6.6 0.2 (19.5 ) — Out-of-pocket reimbursements 14.7 1.6 156.5 0.1 (3.0 ) 169.9 Total revenues 296.1 94.5 309.0 2.4 (22.5 ) 679.5 Costs and expenses 225.2 83.0 288.8 1.6 (22.5 ) 576.1 Depreciation and amortization 17.5 4.8 9.4 0.4 — 32.1 Income from operations 53.4 6.7 10.8 0.4 — 71.3 Other income, net 17.9 — 0.1 113.2 — 131.2 Equity in earnings of unconsolidated affiliates 7.8 0.2 0.2 1.4 — 9.6 Earnings before interest and income taxes $ 79.1 $ 6.9 $ 11.1 $ 115.0 $ — $ 212.1 Earnings before interest and income taxes in the segment reporting information above less interest expense of $6.1 million and $7.0 million for the three months ended June 30, 2015 and 2014 is equal to our income before income taxes on a consolidated basis for the corresponding periods. Six Months Ended June 30, 2015 Financial Services Healthcare Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total Operating revenues $ 508.6 $ 184.0 $ 302.1 $ 1.4 $ — $ 996.1 Intersegment operating revenues 29.1 — 12.8 — (41.9 ) — Out-of-pocket reimbursements 31.2 3.5 372.6 — (6.6 ) 400.7 Total revenues 568.9 187.5 687.5 1.4 (48.5 ) 1,396.8 Costs and expenses 445.7 159.2 634.8 (1.8 ) (48.5 ) 1,189.4 Depreciation and amortization 33.7 9.2 15.9 0.4 — 59.2 Income from operations 89.5 19.1 36.8 2.8 — 148.2 Other income (loss), net (1.0 ) 0.1 0.1 176.4 — 175.6 Equity in earnings of unconsolidated affiliates 19.5 0.1 0.3 7.8 — 27.7 Earnings before interest and income taxes $ 108.0 $ 19.3 $ 37.2 $ 187.0 $ — $ 351.5 Six Months Ended June 30, 2014 Financial Services Healthcare Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total Operating revenues $ 527.6 $ 184.9 $ 298.2 $ 4.1 $ — $ 1,014.8 Intersegment operating revenues 25.6 — 13.2 0.5 (39.3 ) — Out-of-pocket reimbursements 30.8 3.0 320.5 0.1 (5.9 ) 348.5 Total revenues 584.0 187.9 631.9 4.7 (45.2 ) 1,363.3 Costs and expenses 455.2 159.8 586.9 3.1 (45.2 ) 1,159.8 Depreciation and amortization 35.2 9.7 18.5 0.7 — 64.1 Income from operations 93.6 18.4 26.5 0.9 — 139.4 Other income, net 20.1 — 0.2 204.5 — 224.8 Equity in earnings of unconsolidated affiliates 11.7 0.3 0.6 2.4 — 15.0 Earnings before interest and income taxes $ 125.4 $ 18.7 $ 27.3 $ 207.8 $ — $ 379.2 Earnings before interest and income taxes in the segment reporting information above less interest expense of $12.2 million and $13.6 million for the six months ended June 30, 2015 and 2014 is equal to our income before income taxes on a consolidated basis for the corresponding periods. Year Ended December 31, 2014 Financial Healthcare Customer Investments / Elimination Consolidated Operating revenues $ 1,063.4 $ 382.2 $ 589.3 $ 7.1 $ — $ 2,042.0 Intersegment operating revenues 54.1 — 26.9 0.5 (81.5 ) — Out-of-pocket reimbursements 60.5 6.8 652.2 0.2 (12.4 ) 707.3 Total revenues 1,178.0 389.0 1,268.4 7.8 (93.9 ) 2,749.3 Costs and expenses 903.9 308.5 1,184.8 6.1 (93.9 ) 2,309.4 Depreciation and amortization 72.4 19.5 37.8 1.3 — 131.0 Income from operations 201.7 61.0 45.8 0.4 — 308.9 Gain on sale of sale of business 100.5 — — — — 100.5 Other income, net 19.5 0.1 0.4 353.5 — 373.5 Equity in earnings of unconsolidated affiliates 29.8 0.5 0.7 4.4 — 35.4 Earnings before interest and income taxes $ 351.5 $ 61.6 $ 46.9 $ 358.3 $ — $ 818.3 Year Ended December 31, 2013 Financial Healthcare Customer Investments / Elimination Consolidated Operating revenues $ 1,015.7 $ 333.3 $ 602.7 $ 8.9 $ — $ 1,960.6 Intersegment operating revenues 47.6 — 22.4 1.0 (71.0 ) — Out-of-pocket reimbursements 51.3 6.2 648.5 0.1 (8.1 ) 698.0 Total revenues 1,114.6 339.5 1,273.6 10.0 (79.1 ) 2,658.6 Costs and expenses 820.8 270.5 1,188.6 1.3 (79.1 ) 2,202.1 Depreciation and amortization 69.1 19.3 44.1 10.8 — 143.3 Income (loss) from operations 224.7 49.7 40.9 (2.1 ) — 313.2 Other income, net 3.3 0.3 0.2 239.4 — 243.2 Equity in earnings of unconsolidated affiliates 16.8 0.4 0.3 5.5 — 23.0 Earnings before interest and income taxes $ 244.8 $ 50.4 $ 41.4 $ 242.8 $ — $ 579.4 Earnings before interest and income taxes in the segment reporting information above less interest expense of $26.6 million and $34.5 million for the years ended December 31, 2014 and 2013 is equal to our income before income taxes on a consolidated basis for the corresponding periods.

Summary of Accounting Policie25

Summary of Accounting Policies Summary of Accounting Policies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Debt Disclosure [Abstract]
Debt Issuance Cost	$ 4.1

Investments (Details)

Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Investments
Carrying Value	$ 453.6		$ 453.6		$ 656.6
Available-for-sale securities
Book cost basis	115.8		115.8		140.2
Available-for-sale Securities, Gross Unrealized Gain, Accumulated Investments	169.5		169.5		336.6
Available-for-sale Securities, Gross Unrealized Loss, Accumulated Investments	(1.7)		(1.7)		(1.3)
Market value	283.6		283.6		475.5
Proceeds from sale of investments			224.5	$ 86.7
Gross realized gains	87.8	$ 2.1	163.3	48.2
Gross realized losses	0.9	0.2	2.4	0.3
Unrealized losses related to other than temporary investment impairments	0	0	0	0
Other than Temporary impairment
Lower of cost or market valuation adjustments on cost method investments	0	$ 1.3	0	$ 1.6
Common Stock
Fair value of investments by the length of time that the securities have been in a continuous loss position
Less than 12 months	31.5		31.5		17.1
Greater than 12 months	0		0		0
Total	31.5		31.5		17.1
Unrealized losses of investments by the length of time that the securities have in a continuous loss position
Less than 12 months	1.7		1.7		1.3
Greater than 12 months	0		0		0
Total	1.7		1.7		1.3
Cost method and other investments
Investments
Carrying Value	14.6		14.6		14.6
Private Equity Funds
Investments
Carrying Value	131.2		131.2		141.4
Future capital commitments
Future capital commitments related to private equity fund investments	5.2		5.2
Available-for-sale securities
Investments
Carrying Value	283.6		283.6		475.5
Deferred Tax Liabilities	69.2		69.2		138.9
Available-for-sale securities | State Street Corporation
Investments
Carrying Value	168		168		350.7
Available-for-sale securities | Other available-for-sale securities
Investments
Carrying Value	115.6		115.6		124.8
Other investments
Investments
Carrying Value	170		170		181.1
Other investments | Trading securities
Investments
Carrying Value	24.2		24.2		25.1
Other investments | Cost method and other investments
Investments
Carrying Value	$ 145.8		$ 145.8		$ 156

Unconsolidated Affiliates (Deta

Unconsolidated Affiliates (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Unconsolidated affiliates
Carrying value	$ 311.1		$ 311.1		$ 298.7
Equity in earnings of unconsolidated affiliates	$ 12.8	$ 9.6	$ 27.7	$ 15	35.4	$ 23
International Financial Data Services (U.K. and L.P.)
Unconsolidated affiliates
Ownership percentage	50.00%		50.00%
Carrying value	$ 201.7		$ 201.7		186
Equity in earnings of unconsolidated affiliates	$ 9.7	1	$ 17	3.1
Boston Financial Data Services, Inc.
Unconsolidated affiliates
Ownership percentage	50.00%		50.00%
Carrying value	$ 80.1		$ 80.1		77.6
Equity in earnings of unconsolidated affiliates	1.1	1.2	2.5	3
Unconsolidated real estate and other affiliates
Unconsolidated affiliates
Carrying value	29.3		29.3		$ 35.1
Equity in earnings of unconsolidated affiliates	$ 2	$ 7.4	$ 8.2	$ 8.9

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair value measured on a recurring basis - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014
Money market funds
Fair value measurements
Investments	[1]	$ 165.4	$ 141
Estimated Fair Value
Fair value measurements
Deferred compensation liabilities	[2]	(24.2)	(25.1)
Derivative instruments	[2]	(0.4)	(0.5)
Total		454	621.6
Estimated Fair Value | Equity securities
Fair value measurements
Investments	[3]	307.8	500.6
Estimated Fair Value | Pooled funds
Fair value measurements
Investments	[3]	5.4	5.6
Quoted prices in Active Markets for Identical Assets (Level 1)
Fair value measurements
Deferred compensation liabilities	[2]	(24.2)	(25.1)
Derivative instruments	[2]	0	0
Total		449	616.5
Quoted prices in Active Markets for Identical Assets (Level 1) | Money market funds
Fair value measurements
Investments	[1]	165.4	141
Quoted prices in Active Markets for Identical Assets (Level 1) | Equity securities
Fair value measurements
Investments	[3]	307.8	500.6
Quoted prices in Active Markets for Identical Assets (Level 1) | Pooled funds
Fair value measurements
Investments	[3]	0	0
Significant Other Observable Inputs (Level 2)
Fair value measurements
Deferred compensation liabilities	[2]	0	0
Derivative instruments	[2]	(0.4)	(0.5)
Total		5	5.1
Significant Other Observable Inputs (Level 2) | Money market funds
Fair value measurements
Investments	[1]	0	0
Significant Other Observable Inputs (Level 2) | Equity securities
Fair value measurements
Investments	[3]	0	0
Significant Other Observable Inputs (Level 2) | Pooled funds
Fair value measurements
Investments	[3]	5.4	5.6
Significant Unobservable Inputs (Level 3)
Fair value measurements
Deferred compensation liabilities	[2]	0	0
Derivative instruments	[2]	0	0
Total		0	0
Significant Unobservable Inputs (Level 3) | Money market funds
Fair value measurements
Investments	[1]	0	0
Significant Unobservable Inputs (Level 3) | Equity securities
Fair value measurements
Investments	[3]	0	0
Significant Unobservable Inputs (Level 3) | Pooled funds
Fair value measurements
Investments	[3]	$ 0	$ 0
[1]	Included in Cash and cash equivalents and Funds held on behalf of clients on the Condensed Consolidated Balance Sheet.
[2]	Included in Other liabilities on the Condensed Consolidated Balance Sheet.
[3]	Included in Investments on the Condensed Consolidated Balance Sheet.

Intangible Assets and Goodwil29

Intangible Assets and Goodwill (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Amortizable intangible assets
Carrying Amount	$ 194.9	$ 194.9
Accumulated Amortization	79.6	72.4
Customer relationships
Amortizable intangible assets
Carrying Amount	165	165
Accumulated Amortization	63.6	57.8
Other
Amortizable intangible assets
Carrying Amount	29.9	29.9
Accumulated Amortization	$ 16	$ 14.6

Intangible Assets and Goodwil30

Intangible Assets and Goodwill (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 3.6	$ 3.8	$ 7.2	$ 7.6
Annual amortization for intangible assets
Remainder of 2015	7.1		7.1
2,016	14.1		14.1
2,017	14		14
2,018	13.8		13.8
2,019	13.1		13.1
Thereafter	53.2		53.2
Total	$ 115.3		$ 115.3

Intangible Assets and Goodwil31

Intangible Assets and Goodwill (Details 3) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jan. 01, 2015
Changes in carrying amount of goodwill
Balance at the beginning of the period	$ 414.7
Acquisitions	9.9
Disposals	0
Other	(4.8)
Balance at the end of the period	419.8
Reallocation of goodwill between reporting segments		$ 6.7
Financial Services
Changes in carrying amount of goodwill
Balance at the beginning of the period	234.4
Acquisitions	9.9
Disposals	0
Other	(4.9)
Balance at the end of the period	239.4
Healthcare Services
Changes in carrying amount of goodwill
Balance at the beginning of the period	155
Acquisitions	0
Disposals	0
Other	0
Balance at the end of the period	155
Customer Communications
Changes in carrying amount of goodwill
Balance at the beginning of the period	25.3
Acquisitions	0
Disposals	0
Other	0.1
Balance at the end of the period	$ 25.4

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Notes and other indebtedness
Amount outstanding	$ 498.2	$ 552.9
Less current portion of debt	151.7	167.3
Long-term debt	346.5	385.6
Accounts receivable securitization program
Notes and other indebtedness
Amount outstanding	105	120
Revolving credit facilities
Notes and other indebtedness
Amount outstanding	13.9	44.3
Senior notes
Notes and other indebtedness
Amount outstanding	370	370
Related party credit agreements
Notes and other indebtedness
Amount outstanding	2.6	3.7
Other indebtedness
Notes and other indebtedness
Amount outstanding	$ 6.7	$ 14.9

Debt (Details 2)

Debt (Details 2) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Entity's debt and other obligations
Amount outstanding	$ 498.2		$ 552.9
Proceeds from Lines of Credit	377.8	$ 521.2
Repayments of Lines of Credit	408.2	402.7
Accounts receivable securitization program
Entity's debt and other obligations
Maximum borrowing capacity	150
Amount outstanding	105		$ 120
Proceeds from the accounts receivable securitization program	499.6	505.1
Payments in respect of accounts receivable securitization program	514.6	$ 505.1
Amended Line of Credit Facility
Entity's debt and other obligations
Maximum borrowing capacity	$ 850

Debt (Details 3)

Debt (Details 3) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Senior notes | Carrying Value
Notes and other indebtedness
Amount outstanding	$ 370	$ 370
Senior notes | Estimated Fair Value
Notes and other indebtedness
Amount outstanding	392.1	395
Senior notes - Series A | Carrying Value
Notes and other indebtedness
Amount outstanding	40	40
Senior notes - Series A | Estimated Fair Value
Notes and other indebtedness
Amount outstanding	40.1	40.5
Senior notes - Series B | Carrying Value
Notes and other indebtedness
Amount outstanding	105	105
Senior notes - Series B | Estimated Fair Value
Notes and other indebtedness
Amount outstanding	109.8	110.5
Senior notes - Series C | Carrying Value
Notes and other indebtedness
Amount outstanding	65	65
Senior notes - Series C | Estimated Fair Value
Notes and other indebtedness
Amount outstanding	68.9	69.3
Senior notes - Series D | Carrying Value
Notes and other indebtedness
Amount outstanding	160	160
Senior notes - Series D | Estimated Fair Value
Notes and other indebtedness
Amount outstanding	$ 173.3	$ 174.7

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	36.00%	32.80%	36.50%	34.80%

Equity (Details)

Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Equity [Abstract]
Net income	$ 107.5	$ 137.8	$ 215.3	$ 238.2
Weighted average common shares outstanding	36.6	40.9	36.9	41.4
Incremental shares from restricted stock units and stock options	0.4	0.3	0.4	0.4
Weighted average diluted shares outstanding	37	41.2	37.3	41.8
Basic earnings per share	$ 2.94	$ 3.37	$ 5.84	$ 5.75
Diluted earnings per share	$ 2.91	$ 3.34	$ 5.78	$ 5.70
Shares outstanding	36.4	39.7	36.4	39.7
Anti-dilutive securities excluded from diluted earnings per share (in shares)	0	0	0	0

Equity (Details 2)

Equity (Details 2) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-Based Compensation
Share based compensation recognized	$ 7.5	$ 6	$ 14.4	$ 10.3
Unrecognized stock-based compensation expense	51.8		51.8
Estimated amortized share based compensation expense, remainder of 2015	15.6		15.6
Estimated amortized share based compensation expense, 2016	16.8		16.8
Estimated amortized share based compensation expense, 2017	6.3		6.3
Estimated amortized share based compensation expense, 2018	1.1		1.1
Unrecognized compensation expense not expected to vest	$ 12		$ 12
Restricted stock units
Share-Based Compensation
Units granted during period (in shares)			0.3
Units vested in period (in shares)			0.1
Outstanding at the end of the period (in shares)	0.9		0.9
Performance stock units
Share-Based Compensation
Units granted during period (in shares)			0.2
Stock options
Share-Based Compensation
Stock options outstanding at the end of the period (in shares)	0.5		0.5

Equity (Details 3)

Equity (Details 3) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated other comprehensive income
Balance at beginning of period			$ 186.9
Net current period other comprehensive income (loss)	$ (40.1)	$ (6.6)	(107.7)	$ (47.4)
Other Comprehensive Income (Loss), Net of Tax	(40.1)	(6.6)	(107.7)	(47.4)
Balance at end of the period	79.2		79.2
Unrealized Gain on Available-for-Sale Securities
Accumulated other comprehensive income
Balance at beginning of period			207.2
Other Comprehensive Income (Loss), Net of Tax	(46.1)	(8.5)	(103.5)	(49.9)
Balance at end of the period	103.7		103.7
Unrealized Loss on Cash Flow Hedges
Accumulated other comprehensive income
Balance at beginning of period			(0.3)
Other Comprehensive Income (Loss), Net of Tax	0.1	0.2	0.2	0.4
Balance at end of the period	(0.1)		(0.1)
Foreign Currency Translation Adjustments
Accumulated other comprehensive income
Balance at beginning of period			(20)
Other Comprehensive Income (Loss), Net of Tax	5.9	$ 1.7	(4.4)	$ 2.1
Balance at end of the period	$ (24.4)		$ (24.4)

Equity (Details 4)

Equity (Details 4) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Additions to and reclassifications out of Accumulated other comprehensive income
Total other comprehensive income (loss), Pretax		$ (69.2)	$ (11.9)	$ (171.5)	$ (78.3)
Total other comprehensive income (loss), Net of Tax		(40.1)	(6.6)	(107.7)	(47.4)
Available-for-Sale Securities
Additions to and reclassifications out of Accumulated other comprehensive income
Other comprehensive income (loss), before Reclassifications, Pretax		11.8	(12)	(6.4)	(33)
Reclassification of (gains) losses into net earnings, Pretax	[1]	(86.9)	(1.9)	(160.9)	(47.9)
Total other comprehensive income (loss), Pretax		(75.1)	(13.9)	(167.3)	(80.9)
Other comprehensive income (loss), before Reclassifications, Net of Tax		8.4	(7.3)	(3.8)	(20.7)
Reclassification of (gains) losses into net earnings, Net of Tax	[1]	(54.5)	(1.2)	(99.7)	(29.2)
Total other comprehensive income (loss), Net of Tax		(46.1)	(8.5)	(103.5)	(49.9)
Cash Flow Hedges
Additions to and reclassifications out of Accumulated other comprehensive income
Other comprehensive income (loss), before Reclassifications, Pretax		(0.1)	0.3	0	0.3
Total other comprehensive income (loss), Pretax		0	0.3	0.2	0.5
Other comprehensive income (loss), before Reclassifications, Net of Tax		0	0.2	0	0.2
Total other comprehensive income (loss), Net of Tax		0.1	0.2	0.2	0.4
Cash Flow Hedges | Foreign Currency Contracts
Additions to and reclassifications out of Accumulated other comprehensive income
Reclassification of (gains) losses into net earnings, Pretax	[2]	0.1	0	0.2	0.2
Reclassification of (gains) losses into net earnings, Net of Tax	[2]	0.1	0	0.2	0.2
Cumulative Translation Adjustments
Additions to and reclassifications out of Accumulated other comprehensive income
Total other comprehensive income (loss), Pretax		5.9	1.7	(4.4)	2.1
Total other comprehensive income (loss), Net of Tax		$ 5.9	$ 1.7	$ (4.4)	$ 2.1
[1]	Realized (gains)/losses on available-for-sale securities are recognized in Other income, net on the Condensed Consolidated Statement of Income.
[2]	Reclassification to net earnings of derivatives qualifying as effective foreign currency cash flow hedges are recognized in Costs and expenses on the Condensed Consolidated Statement of Income.

Equity (Details 5)

Equity (Details 5) $ / shares in Units, shares in Millions, $ in Millions	Jul. 29, 2015USD ($)$ / shares	Jul. 31, 2015USD ($)shares	Jun. 30, 2015USD ($)affiliate$ / shares	Mar. 31, 2015USD ($)	Jun. 30, 2015USD ($)affiliateshares	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)affiliate
Stock repurchases
Common stock repurchased (in shares) | shares					1.4
Aggregate repurchase price of common stock					$ 150
Share receipts and withholding amount from option exercise and restricted stock vesting					4.7	$ 5.7
Cash dividends declared (in dollars per share) | $ / shares			$ 0.30
Dividends, common stock			$ 11	$ 11.1	$ 22.1
Subsequent Event
Stock repurchases
Stock repurchase, authorized amount	$ 250
Common stock repurchased (in shares) | shares		0.6
Aggregate repurchase price of common stock		$ 75
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	$ 325
Cash dividends declared (in dollars per share) | $ / shares	$ 0.30
One of DST's unconsolidated affiliates
Unconsolidated affiliates
Number of unconsolidated affiliates with an interest rate swap | affiliate			1		1		1
Unconsolidated affiliate's interest rate swap liability, fair value			$ 45.4		$ 45.4		$ 50.2
Equity method investments ownership percentage			50.00%		50.00%		50.00%
Proportionate share in unconsolidated affiliate's interest rate swap liability			$ 22.7		$ 22.7		$ 25.1

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details) - USD ($) $ in Millions	Jul. 31, 2015	Jul. 09, 2015	Jun. 30, 2015	Dec. 31, 2014
Other Commitments [Line Items]
Letters of credit outstanding			$ 10	$ 9.6
Red Rock Capital LLC | Subsequent Event
Other Commitments [Line Items]
Percentage of Voting Interests Acquired	100.00%
Payments to Acquire Businesses	$ 45
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			20
Wealth Management Systems Inc. | Subsequent Event
Other Commitments [Line Items]
Payments to Acquire Businesses		$ 64
Performance Guarantee
Other Commitments [Line Items]
Guarantee obligation			0.7	0.8
DST Global Solutions Ltd | Indemnification Agreement
Other Commitments [Line Items]
Guarantee obligation			$ 2.1	$ 2.1

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment Reporting [Abstract]
Number of operating segments			3
Summary of financial information of segments
Total assets	$ 2,563.2		$ 2,563.2		$ 2,942.9
Operating revenues	500.4	$ 509.6	996.1	$ 1,014.8
Out-of-pocket reimbursements	194.1	169.9	400.7	348.5	707.3	$ 698
Total revenues	694.5	679.5	1,396.8	1,363.3	2,749.3	2,658.6
Costs and expenses	595.6	576.1	1,189.4	1,159.8	2,309.4	2,202.1
Depreciation and amortization	29.8	32.1	59.2	64.1	131	143.3
Income from operations	69.1	71.3	148.2	139.4	308.9	313.2
Gain (Loss) on Disposition of Business					100.5
Other income, net	92.3	131.2	175.6	224.8	373.5	243.2
Equity in earnings of unconsolidated affiliates	12.8	9.6	27.7	15	35.4	23
Earnings before interest and income taxes	174.2	212.1	351.5	379.2	818.3	579.4
Interest expense	6.1	7	12.2	13.6	26.6	34.5
Operating Segments
Summary of financial information of segments
Operating revenues	500.4	509.6	996.1	1,014.8	2,042	1,960.6
Operating Segments | Financial Services
Summary of financial information of segments
Total assets	1,166.7		1,166.7		1,428.2
Operating revenues	258.1	268.7	508.6	527.6	1,063.4	1,015.7
Out-of-pocket reimbursements	14.2	14.7	31.2	30.8	60.5	51.3
Total revenues	285.3	296.1	568.9	584	1,178	1,114.6
Costs and expenses	225.7	225.2	445.7	455.2	903.9	820.8
Depreciation and amortization	17.1	17.5	33.7	35.2	72.4	69.1
Income from operations	42.5	53.4	89.5	93.6	201.7	224.7
Gain (Loss) on Disposition of Business					100.5
Other income, net	0.4	17.9	(1)	20.1	19.5	3.3
Equity in earnings of unconsolidated affiliates	10.8	7.8	19.5	11.7	29.8	16.8
Earnings before interest and income taxes	53.7	79.1	108	125.4	351.5	244.8
Operating Segments | Healthcare Services
Summary of financial information of segments
Total assets	364.3		364.3		391.3
Operating revenues	92.1	92.9	184	184.9	382.2	333.3
Out-of-pocket reimbursements	1.6	1.6	3.5	3	6.8	6.2
Total revenues	93.7	94.5	187.5	187.9	389	339.5
Costs and expenses	78.9	83	159.2	159.8	308.5	270.5
Depreciation and amortization	4.6	4.8	9.2	9.7	19.5	19.3
Income from operations	10.2	6.7	19.1	18.4	61	49.7
Gain (Loss) on Disposition of Business					0
Other income, net	0.1	0	0.1	0	0.1	0.3
Equity in earnings of unconsolidated affiliates	0	0.2	0.1	0.3	0.5	0.4
Earnings before interest and income taxes	10.3	6.9	19.3	18.7	61.6	50.4
Operating Segments | Customer Communications
Summary of financial information of segments
Total assets	422.9		422.9		384
Operating revenues	149.5	145.9	302.1	298.2	589.3	602.7
Out-of-pocket reimbursements	180.6	156.5	372.6	320.5	652.2	648.5
Total revenues	335.4	309	687.5	631.9	1,268.4	1,273.6
Costs and expenses	311.1	288.8	634.8	586.9	1,184.8	1,188.6
Depreciation and amortization	8	9.4	15.9	18.5	37.8	44.1
Income from operations	16.3	10.8	36.8	26.5	45.8	40.9
Gain (Loss) on Disposition of Business					0
Other income, net	0.1	0.1	0.1	0.2	0.4	0.2
Equity in earnings of unconsolidated affiliates	0.1	0.2	0.3	0.6	0.7	0.3
Earnings before interest and income taxes	16.5	11.1	37.2	27.3	46.9	41.4
Operating Segments | Investments and Other
Summary of financial information of segments
Total assets	610.7		610.7		741.9
Operating revenues	0.7	2.1	1.4	4.1	7.1	8.9
Out-of-pocket reimbursements	0	0.1	0	0.1	0.2	0.1
Total revenues	0.7	2.4	1.4	4.7	7.8	10
Costs and expenses	0.5	1.6	(1.8)	3.1	6.1	1.3
Depreciation and amortization	0.1	0.4	0.4	0.7	1.3	10.8
Income from operations	0.1	0.4	2.8	0.9	0.4	(2.1)
Gain (Loss) on Disposition of Business					0
Other income, net	91.7	113.2	176.4	204.5	353.5	239.4
Equity in earnings of unconsolidated affiliates	1.9	1.4	7.8	2.4	4.4	5.5
Earnings before interest and income taxes	93.7	115	187	207.8	358.3	242.8
Intersegment Eliminations
Summary of financial information of segments
Total assets	(1.4)		(1.4)		(2.5)
Operating revenues	(18.3)	(19.5)	(41.9)	(39.3)	(81.5)	(71)
Out-of-pocket reimbursements	(2.3)	(3)	(6.6)	(5.9)	(12.4)	(8.1)
Total revenues	(20.6)	(22.5)	(48.5)	(45.2)	(93.9)	(79.1)
Costs and expenses	(20.6)	(22.5)	(48.5)	(45.2)	(93.9)	(79.1)
Depreciation and amortization	0	0	0	0	0	0
Income from operations	0	0	0	0	0	0
Gain (Loss) on Disposition of Business					0
Other income, net	0	0	0	0	0	0
Equity in earnings of unconsolidated affiliates	0	0	0	0	0	0
Earnings before interest and income taxes	0	0	0	0	0	0
Intersegment Eliminations | Financial Services
Summary of financial information of segments
Operating revenues	13	12.7	29.1	25.6	54.1	47.6
Intersegment Eliminations | Healthcare Services
Summary of financial information of segments
Operating revenues	0	0	0	0	0	0
Intersegment Eliminations | Customer Communications
Summary of financial information of segments
Operating revenues	5.3	6.6	12.8	13.2	26.9	22.4
Intersegment Eliminations | Investments and Other
Summary of financial information of segments
Operating revenues	$ 0	$ 0.2	$ 0	$ 0.5	$ 0.5	$ 1