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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2018	Feb. 28, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Registrant Name	Cannae Holdings, Inc.
Entity Central Index Key	0001704720
Current Fiscal Year End Date	--12-31
Entity Well-Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		72,223,692
Entity Public Float			$ 1,246,373,513

CONSOLIDATED AND COMBINED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 323.0	$ 245.6
Short-term investments	31.4	0.0
Trade receivables	49.8	35.8
Inventory	22.3	29.7
Equity securities, at fair value	0.0	17.7
Prepaid expenses and other current assets	25.2	21.4
Total current assets	451.7	350.2
Investments in unconsolidated affiliates	397.2	424.9
Property and equipment, net	176.4	218.8
Other intangible assets, net	175.8	214.5
Goodwill	164.8	202.7
Fixed maturity securities available for sale, at fair value	17.8	14.8
Deferred tax assets	16.9	10.6
Other long term investments and noncurrent assets	58.9	50.7
Total assets	1,459.5	1,487.2
Current liabilities:
Accounts payable and other accrued liabilities, current	98.4	100.7
Income taxes payable	24.2	0.8
Deferred revenue, current	31.5	26.1
Notes payable, current	5.9	122.2
Total current liabilities	160.0	249.8
Deferred revenue, long-term	0.2	9.1
Notes payable, long-term	42.2	12.7
Accounts payable and other accrued liabilities, long-term	57.4	62.5
Total liabilities	259.8	334.1
Commitments and contingencies - see Note M
Cannae common stock	0.0	0.0
Preferred stock, $0.0001 par value; authorized 10,000,000 shares; issued and outstanding, none as of December 31, 2018 and December 31, 2017	0.0	0.0
Equity:
Retained earnings	45.8	0.2
Additional paid-in capital	1,146.2	1,130.2
Less: Treasury stock, 10,638 shares as of December 31, 2018, at cost	(0.2)	0.0
Accumulated other comprehensive loss	(67.2)	(71.0)
Total Cannae shareholders' equity	1,124.6	1,059.4
Noncontrolling interests	75.1	93.7
Total equity	1,199.7	1,153.1
Total liabilities and equity	$ 1,459.5	$ 1,487.2

CONSOLIDATED AND COMBINED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Par value per share (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	115,000,000	115,000,000
Common stock, shares, issued (in shares)	72,234,330	70,858,143
Common stock, shares, outstanding (in shares)	72,223,692	70,858,143
Preferred stock, par or value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock, shares (in shares)	10,638	0

CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
Total operating revenues	$ 1,205,400,000	$ 1,169,500,000	$ 1,178,400,000
Operating expenses:
Cost of restaurant revenue	991,300,000	991,000,000	984,100,000
Personnel costs	170,300,000	103,200,000	68,300,000
Depreciation and amortization	61,300,000	49,300,000	44,700,000
Other operating expenses	105,600,000	104,400,000	83,500,000
Goodwill impairment, see Note A	26,700,000	0	0
Total operating expenses	1,355,200,000	1,247,900,000	1,180,600,000
Operating loss	(149,800,000)	(78,400,000)	(2,200,000)
Other income (expense):
Interest and investment income	6,300,000	5,300,000	3,300,000
Interest expense	(4,700,000)	(7,000,000)	(5,200,000)
Realized gains, net	166,800,000	4,900,000	9,300,000
Total other income	168,400,000	3,200,000	7,400,000
Earnings (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	18,600,000	(75,200,000)	5,200,000
Income tax expense (benefit)	13,100,000	(16,600,000)	(10,400,000)
Earnings (loss) from continuing operations before equity in (losses) earnings of unconsolidated affiliates	5,500,000	(58,600,000)	15,600,000
Equity in (losses) earnings of unconsolidated affiliates	(16,100,000)	3,400,000	(29,500,000)
Loss from continuing operations	(10,600,000)	(55,200,000)	(13,900,000)
Net earnings from discontinued operations, net of tax - see Note N	0	147,700,000	2,000,000
Net (loss) earnings	(10,600,000)	92,500,000	(11,900,000)
Less: Net (loss) earnings attributable to non-controlling interests	(38,200,000)	(16,300,000)	500,000
Net earnings (loss) attributable to Cannae Holdings, Inc. common shareholders	27,600,000	108,800,000	(12,400,000)
Amounts attributable to Cannae Holdings, Inc. common shareholders
Net earnings (loss) from continuing operations attributable to Cannae Holdings, Inc. common shareholders	27,600,000	(38,700,000)	(14,300,000)
Net earnings from discontinued operations attributable to Cannae Holdings, Inc. common shareholders	0	147,500,000	1,900,000
Net earnings (loss) attributable to Cannae Holdings, Inc. common shareholders	$ 27,600,000	$ 108,800,000	$ (12,400,000)
Basic
Net earning (loss) per share from continuing operations (in usd per share)	$ 0.39	$ (0.55)	$ (0.21)
Net earnings per share from discontinued operations (in usd per share)	0.00	2.09	0.03
Net earnings (loss) per share (in usd per share)	0.39	1.54	(0.18)
Diluted
Net earnings (loss) per share from continuing operations (in usd per share)	0.39	(0.55)	(0.21)
Net earnings per share from discontinued operations (in usd per share)	0.00	2.09	0.03
Net earnings (loss) per share (in usd per share)	$ 0.39	$ 1.54	$ (0.18)
Weighted average shares outstanding Cannae Holdings common stock, basic basis	71.2	70.6	70.6
Weighted average shares outstanding Cannae Holdings common stock, diluted basis	71.3	70.6	70.6
Restaurant revenue
Revenues:
Total operating revenues	$ 1,117,800,000	$ 1,129,000,000	$ 1,157,600,000
Other operating revenue
Revenues:
Total operating revenues	$ 87,600,000	$ 40,500,000	$ 20,800,000

CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Statement of Comprehensive Income [Abstract]

Net (loss) earnings

$ (10.6)

$ 92.5

$ (11.9)

Other comprehensive earnings (loss), net of tax:

Unrealized gain (loss) on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)

^[1]

0.9

(8.7)

2.6

Unrealized (loss) gain relating to investments in unconsolidated affiliates

^[2]

(12.0)

8.9

4.8

Reclassification of unrealized losses on investments in unconsolidated affiliates, net of tax, included in net earnings

^[3]

24.0

0.0

Reclassification of unrealized losses (gains) on investments and other financial instruments, net of tax, included in net earnings

^[4]

7.0

(3.1)

0.0

Other comprehensive earnings (loss)

19.9

(2.9)

7.4

Comprehensive earnings (loss)

9.3

89.6

(4.5)

Less: Comprehensive (loss) earnings attributable to noncontrolling interests

(38.2)

(16.3)

0.5

Comprehensive earnings (loss) attributable to Cannae

47.5

105.9

(5.0)

Unrealized gain on investments and other financial instruments, net (excluding investments in unconsolidated affiliates, income tax expense (benefit)

0.3

(3.1)

1.6

Unrealized gain (loss) relating to investments in unconsolidated affiliates, income tax (benefit) expense

(3.2)

2.4

$ 2.9

Reclassification of unrealized losses on investments in unconsolidated affiliates, tax (benefit)

6.4

Reclassification of unrealized losses (gains) on investments and other financial instruments included in earnings, income tax (benefit) expense

$ (1.9)

$ 1.9

[1]	Net of income tax expense (benefit) of $0.3 million, $(3.1) million and $1.6 million for the years ended December 31, 2018, 2017 and 2016, respectively.
[2]	Net of income tax (benefit) expense of $(3.2) million, $2.4 million and $2.9 million for the years ended December 31, 2018, 2017 and 2016, respectively.
[3]	Net of income tax benefit of $6.4 million for the year ended December 31, 2018.
[4]	Net of income tax (benefit) expense of $(1.9) million and $1.9 million for the years ended December 31, 2018 and 2017, respectively.

CONSOLIDATED AND COMBINED STATEMENTS OF EQUITY - USD ($)
shares in Millions, $ in Millions

Total

Ceridian

Common Stock

Parent Investment in FNFV

Ceridian

Additional Paid-In Capital

Ceridian

Retained Earnings

Difference between Revenue Guidance in Effect before and after Topic 606

Retained Earnings

ASU 2018-02

Accumulated Other Comp (Loss) Earnings

ASU 2018-02

Treasury Stock

Non-controlling Interests

Beginning balance at Dec. 31, 2015

$ 1,056.5

$ 0.0

$ 1,018.4

$ 0.0

$ (75.5)

$ 0.0

$ 113.6

Beginning balance (in shares) at Dec. 31, 2015

0.0

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Other comprehensive earnings — unrealized gain on investments and other financial instruments, net of tax

2.6

^[1]

2.6

Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates, net of tax

4.8

^[2]

4.8

Reclassification adjustments for unrealized gains and losses included in net earnings

^[3]

0.0

Subsidiary stock-based compensation

1.2

Stock-based compensation

$ 5.1

Acquisition of Brasada

2.0

Dissolution of consolidated subsidiary/Sale of OneDigital

(0.3)

FNF investment

0.0

Subsidiary dividends paid to noncontrolling interests

(0.7)

Net change in Parent investment in FNFV

(49.5)

Net (loss) earnings

(11.9)

(12.4)

0.5

Ending balance at Dec. 31, 2016

1,009.8

$ 0.0

961.6

0.0

(68.1)

$ 0.0

116.3

Ending balance (in shares) at Dec. 31, 2016

0.0

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Other comprehensive earnings — unrealized gain on investments and other financial instruments, net of tax

(8.7)

^[1]

(8.7)

Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates, net of tax

8.9

^[2]

8.9

Reclassification adjustments for unrealized gains and losses included in net earnings

(3.1)

^[3]

(3.1)

Contribution of CSA services from FNF

0.1

Stock-based compensation

0.5

5.7

0.2

$ 5.7

0.3

Dissolution of consolidated subsidiary/Sale of OneDigital

(6.2)

Issuance of restricted stock

0.0

Issuance of restricted stock (in shares)

0.3

FNF investment

100.0

FNF investment (in shares)

5.7

FNF contribution of FNFV

0.0

(1,024.2)

1,024.2

FNF contribution of FNFV (in shares)

64.9

Subsidiary dividends paid to noncontrolling interests

(0.4)

Net change in Parent investment in FNFV

(46.0)

Net (loss) earnings

92.5

108.6

0.2

(16.3)

Ending balance at Dec. 31, 2017

1,153.1

$ 0.0

0.0

1,130.2

0.2

(71.0)

$ 0.0

93.7

Ending balance (in shares) at Dec. 31, 2017

70.9

0.0

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Cumulative effect adjustment to opening equity | ASU 2014-09

$ 4.3

Reclassification adjustment for stranded tax effects, deferred taxes, Tax Reform Act

$ 16.1

$ (16.1)

Reclassification of unrealized losses on investments in unconsolidated affiliates, net of tax, included in net earnings

24.0

Other comprehensive earnings — unrealized gain on investments and other financial instruments, net of tax

0.9

^[1]

0.9

Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates, net of tax

(12.0)

^[2]

(12.0)

Reclassification adjustments for unrealized gains and losses included in net earnings

7.0

^[3]

7.0

Contribution of CSA services from FNF

1.3

Stock-based compensation

2.0

$ 6.5

2.0

6.5

Issuance of restricted stock (in shares)

0.3

FNF investment

0.0

Treasury Stock, Value, Withheld for Taxes, Cost Method

(0.2)

$ (0.2)

Shares issued for investment success bonuses, net of issuance costs

19.8

Shares issued for investment success bonuses, net of issuance costs (in shares)

1.0

ABRH-99 Restructuring, see Note A

2.0

$ (13.6)

15.6

Subsidiary dividends paid to noncontrolling interests

(0.1)

Net change in Parent investment in FNFV

4.1

Net (loss) earnings

(10.6)

27.6

(38.2)

Ending balance at Dec. 31, 2018

$ 1,199.7

$ 0.0

$ 1,146.2

$ 45.8

$ (67.2)

$ (0.2)

$ 75.1

Ending balance (in shares) at Dec. 31, 2018

72.2

0.0

[1]	Net of income tax expense (benefit) of $0.3 million, $(3.1) million and $1.6 million for the years ended December 31, 2018, 2017 and 2016, respectively.
[2]	Net of income tax (benefit) expense of $(3.2) million, $2.4 million and $2.9 million for the years ended December 31, 2018, 2017 and 2016, respectively.
[3]	Net of income tax (benefit) expense of $(1.9) million and $1.9 million for the years ended December 31, 2018 and 2017, respectively.

CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net (loss) earnings	$ (10.6)	$ 92.5	$ (11.9)
Adjustments to reconcile net earnings (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	61.3	58.1	62.9
Equity in losses (earnings) of unconsolidated affiliates	16.1	(3.4)	29.5
Distributions from investments in unconsolidated affiliates	1.4	0.0	0.0
Realized gains, net, excluding asset impairments	(182.7)	(4.9)	(9.3)
Gain on sale of OneDigital	0.0	(276.0)	0.0
Impairment of assets	55.2	9.9	3.3
Stock-based compensation cost	21.8	0.5	1.2
Changes in assets and liabilities, net of effects from acquisitions:
Net increase in trade receivables	(7.3)	(1.2)	(4.2)
Net decrease (increase) in inventory, prepaid expenses and other assets	9.5	(12.2)	11.8
Net (decrease) increase in accounts payable, accrued liabilities, deferred revenue and other	0.9	15.0	(7.6)
Net change in income taxes	11.5	31.0	(15.4)
Net cash (used in) provided by operating activities	(22.9)	(90.7)	60.3
Cash flows from investing activities:
Proceeds from sale of equity securities	17.7	31.6	0.0
Proceeds from sale of Ceridian shares	152.5	0.0	0.0
Proceeds from sale of LifeWorks	56.2	0.0	0.0
Additions to property and equipment	(15.6)	(39.0)	(49.6)
Additions to other intangible assets	(0.3)	(1.1)	(5.6)
Purchases of investment securities	(3.5)	(1.3)	(39.9)
Contributions to investments in unconsolidated affiliates	0.0	(1.4)	(68.6)
Proceeds from the sale of other investments	7.8	1.3	36.0
Proceeds from the sale of property and equipment	4.9	0.0	0.0
Purchases of other long-term investments	(7.4)	(4.3)	(6.3)
Distributions from investments in unconsolidated affiliates	0.4	1.1	42.4
Net purchases of short term investments	(31.4)	0.0	0.0
Net other investing activities	0.1	1.4	(0.7)
Acquisition of T-System, net of cash acquired	0.7	(201.6)	0.0
Acquisition of Brasada, net of cash acquired	0.0	0.0	(27.5)
Proceeds from sale of OneDigital	4.6	326.0	0.0
Other acquisitions/disposals of businesses, net of cash acquired/disposed	0.0	(21.0)	(48.4)
Net cash provided by (used in) investing activities	186.7	91.7	(168.2)
Cash flows from financing activities:
Borrowings, net of debt issuance costs	33.9	84.4	76.7
Debt service payments	(124.1)	(35.8)	(44.7)
Sale of noncontrolling interest in consolidated subsidiary	4.1	0.0	0.0
Proceeds from FNF Investment	0.0	100.0	0.0
Subsidiary distributions paid to noncontrolling interest shareholders	(0.1)	(0.4)	(0.7)
Payment of contingent consideration for prior period acquisitions	0.0	(4.0)	0.0
Payment for shares withheld for taxes and in treasury	(0.2)	0.0	0.0
Equity transactions with Parent, net	0.0	(46.0)	(52.1)
Net cash (used in) provided by financing activities	(86.4)	98.2	(20.8)
Net increase (decrease) in cash and cash equivalents	77.4	99.2	(128.7)
Cash and cash equivalents at beginning of period, including cash of discontinued operations	245.6	146.4	275.1
Cash and cash equivalents at end of period	$ 323.0	$ 245.6	$ 146.4

Business and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business and Summary of Significant Accounting Policies

The following describes the significant accounting policies of Cannae Holdings, Inc. and its subsidiaries (collectively, “we,” “us,” “our,” "Cannae," or the "Company”) which have been followed in preparing the accompanying Consolidated and Combined Financial Statements.

Description of Business

We are a holding company engaged in actively managing and operating a group of companies and investments with a net asset value of approximately $1.1 billion as of December 31, 2018. Our business consists of managing and operating majority-owned subsidiaries, as well as making additional majority and minority equity portfolio investments in businesses, in order to achieve superior financial performance and maximize the value of these assets. Our primary investments as of December 31, 2018 include our ownership interest in Ceridian Holding HCM, Inc. ("Ceridian"); majority equity ownership stakes in American Blue Ribbon Holdings, LLC ("ABRH"), 99 Restaurants Holdings, LLC ("99 Restaurants") and T-System Holdings, LLC ("T-System"); and various other controlled portfolio companies and minority equity and debt investments.

See Note Q Segment Information for further discussion of the businesses comprising our reportable segments.

Split-off of Cannae from FNF

During December 2016, the board of directors of Fidelity National Financial, Inc. (“FNF” or “Parent”) authorized its management to pursue a plan to redeem each outstanding share of its Fidelity National Financial Ventures Group ("FNFV Group") common stock, par value $0.0001, for one share of common stock, par value $0.0001, of a newly formed entity, Cannae Holdings, Inc. (“Cannae”), with cash in lieu of fractional shares (the "Split-Off"). On November 17, 2017, FNF contributed to Cannae its majority and minority equity investment stakes in a number of entities, including ABRH, T-System, Ceridian, and various other controlled portfolio companies and minority equity investments. The Split-Off is intended to be tax-free to stockholders of FNFV Group common stock.

Following the Split-Off, FNF and Cannae operate as separate, publicly traded companies. In connection with the Split-Off, FNF and Cannae entered into certain agreements in order to govern certain of the ongoing relationships between the two companies after the Split-Off and to provide for an orderly transition. These agreements include a reorganization agreement, a corporate services agreement, a registration rights agreement, a voting agreement and a tax matters agreement.

The reorganization agreement provides for, among other things, the principal corporate transactions (including the internal restructuring) required to effect the Split-Off, certain conditions to the Split-Off and provisions governing the relationship between Cannae and FNF with respect to and resulting from the Split-Off. The tax matters agreement provides for the allocation and indemnification of tax liabilities and benefits between FNF and Cannae and other agreements related to tax matters. The voting and registration rights agreements provides for certain appearance and voting restrictions and registration rights on shares of Cannae owned by FNF after consummation of the Split-Off. Pursuant to the corporate services agreement (the "CSA"), FNF will provide Cannae with certain "back office" services including legal, tax, accounting, treasury and investor relations support. FNF will generally provide these services at no-cost for up to three years. Cannae will reimburse FNF for direct, out-of-pocket expenses incurred by FNF in providing these services.

The Split-Off was accounted for at historical cost due to the pro rata nature of the distribution to holders of FNFV Group common stock.

Principles of Consolidation and Combination and Basis of Presentation

The accompanying Consolidated and Combined Financial Statements are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and include the historical accounts as well as wholly-owned and majority-owned subsidiaries of the Company. Prior to the Split-Off, these financial statements represent a combination of the historical financial information of the operations attributed to FNFV, of which Cannae is comprised. The Company is allocated certain corporate overhead and management services expenses from FNF based on the terms of the CSA and our proportionate share of the expense determined on actual usage and our best estimate of management's allocation of time. Both FNF and Cannae believe such allocations are reasonable; however, they may not be indicative of the actual results of operations or cash flows of the Company had the Company been operating as an independent, publicly traded company for the periods presented or the amounts that will be incurred by the Company in the future.

All intercompany profits, transactions and balances have been eliminated. Our investments in non-majority-owned partnerships and affiliates are accounted for using the equity method until such time that they may become wholly or majority-owned. Earnings attributable to noncontrolling interests are recorded on the Consolidated and Combined Statements of Operations relating to majority-owned subsidiaries with the appropriate noncontrolling interest that represents the portion of equity not related to our ownership interest recorded on the Consolidated and Combined Balance Sheets in each period.

Management Estimates

The preparation of these Consolidated and Combined Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated and Combined Financial Statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by management include the carrying amount and depreciation of property and equipment (Note E), the valuation of acquired intangible assets (Note B and Note H), fair value measurements (Note C), and accounting for income taxes (Note L). Actual results could differ from estimates.

Recent Developments

Dun & Bradstreet

On August 8, 2018, we entered into an agreement to partner with an investment consortium (the “Consortium”) including CC Capital Partners LLC and Thomas H. Lee Partners along with other investors to acquire The Dun & Bradstreet Corporation, a Delaware corporation ("Dun & Bradstreet") (the "DNB Acquisition"). Contemporaneously, Dun & Bradstreet entered into an Agreement and Plan of Merger (the "Merger Agreement") by and between Dun & Bradstreet, Star Parent, L.P. ("Star"), a Delaware limited partnership, and Star Merger Sub, Inc. ("Merger Sub"), a Delaware corporation and a wholly owned subsidiary of Star, and upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Dun & Bradstreet (the "Merger"), with Dun & Bradstreet continuing as the surviving company in the Merger. Under the terms of the Merger, Dun & Bradstreet shareholders received $145.00 in cash for each share of common stock they owned at closing.

On February 8, 2019, the DNB Acquisition closed and was financed through a combination of $2.1 billion of common equity financing provided by the Consortium, $1.1 billion of preferred equity from preferred equity sources and $4.0 billion of debt financing from various lenders.

Of our previously disclosed $900.0 million commitment to purchase common equity of Star and Dun & Bradstreet, we retained and funded a $505.6 million investment (the "DNB Investment"), representing 24.5% of the outstanding common equity, and syndicated the remainder to other investors. We funded the DNB Investment through a combination of cash on hand and borrowings on existing credit facilities. We expect to account for the DNB Investment as an equity method investment which will result in our initial investment being recorded as an Investment in unconsolidated affiliate on our balance sheet and our portion (24.5%) of Dun & Bradstreet's periodic earnings or losses to be included in Equity in earnings (losses) of unconsolidated affiliates, outside of operating income or loss, on our statement of operations.

Dun & Bradstreet is a global leader in commercial data and analytics and provides various services to help companies improve their operational performance.

Ceridian

On April 26, 2018, Ceridian's previously announced registration statement on Form S-1 was declared effective by the SEC and Ceridian priced its initial public offering of 21,000,000 shares of common stock at a price of $22.00 per share (the "Ceridian IPO"). In addition, the underwriters of the Ceridian IPO were granted and exercised a 30-day option to purchase up to an additional 3,150,000 shares at the initial public offering price, less underwriting discounts and commissions. The New York Stock Exchange ("NYSE") and the Toronto Stock Exchange ("TSX") have approved the listing of Ceridian's shares. Ceridian’s shares trade on the NYSE and TSX under the ticker symbol “CDAY.”

In accordance with the terms of our management agreement with Ceridian, the agreement was terminated upon closing of the Ceridian IPO. The termination resulted in a termination fee of $5.6 million which was paid to us on May 1, 2018 and is included in Other operating revenue on the Consolidated and Combined Statement of Operations for the year ended December 31, 2018.

Subsequent to the Ceridian IPO, and participation in a concurrent private placement investment in which we acquired 1,521,030 shares of CDAY representing an investment of $33.4 million from funds previously invested by us and held at Ceridian, we owned a total of 37,135,921 shares of CDAY. We recorded a gain of $63.2 million related to our change in ownership of Ceridian which is included in Realized gains, net on the Consolidated and Combined Statement of Operations for the year ended December 31, 2018. The recorded gain is net of $21.1 million of losses (exclusive of $4.4 million of income tax benefit) related to reclassification adjustments from Other comprehensive income.

On May 7, 2018, the Compensation Committee of the Board of Directors approved a success bonus of up to $67.1 million resulting from the successful Ceridian IPO. The success bonus was calculated based on 10% of the value of our investment in Ceridian in excess of our basis in Ceridian prior to the Ceridian IPO. The success bonus was paid to certain members of the Board of Directors and management who contributed to acquiring and growing Ceridian over Cannae’s and its predecessor’s ten year ownership of Ceridian, and was paid in a combination of cash and stock. On May 16, 2018, we issued 991,906 shares of our common stock for the stock portion of the bonuses. The remaining $46.9 million was paid in cash during the year ended December 31, 2018. The expense resulting from the success bonus is included in Personnel expense on the Consolidated and Combined Statement of Operations for the year ended December 31, 2018.

LifeWorks Corporation Ltd. ("LifeWorks"), a former minority-owned subsidiary of Ceridian, was distributed pro-rata to Ceridian shareholders contemporaneously with the Ceridian IPO. On July 27, 2018, LifeWorks was sold to Morneau Shepell, Inc. for $325.0 million. Cannae's cash proceeds for its equity interest in LifeWorks were $56.2 million. We recorded a gain of $24.0 million on the sale which is included in Realized gains (losses), net on the Consolidated and Combined Statements of Operations for the year ended December 31, 2018.

On November 16, 2018, we completed the sale of 4,396,694 shares of common stock of Ceridian as part of an underwritten secondary public offering by certain stockholders of Ceridian at a public offering price of $36.00 per share. In connection with the sale, the Company received $34.695 per share (after the applicable underwriter discount) for aggregate proceeds of $152.5 million. We recorded a gain of $92.6 million on the sale which is included in Realized gains (losses), net on the Consolidated and Combined Statements of Operations for the year ended December 31, 2018. Subsequent to the sale, we own 23.5% of the outstanding common stock of Ceridian.

Restaurant Group

On November 6, 2018, we entered into various definitive agreements with Fidelity Newport Holdings, LLC ("FNH", a subsidiary of the Company and the direct parent of ABRH), ABRH and 99 Restaurants (together with its direct and indirect subsidiaries, the "99 Companies") pursuant to which the following occurred (collectively, the "ABRH-99 Restructuring"): (i) ABRH and certain of its direct and indirect subsidiaries transferred to the applicable 99 Companies those assets principally associated with the 99 Restaurants brand that were not already owned by the 99 Companies; (ii) the existing intercompany credit facility (with an outstanding balance of approximately $133.0 million in principal, plus accrued but unpaid interest and fees) under which we were the sole lender to ABRH, for the benefit of ABRH and its subsidiaries, including the 99 Companies (the “Intercompany Credit Facility”), was modified so that 99 Holdings became the direct borrower (and ABRH and all of its direct and indirect subsidiaries, other than the 99 Companies, were released from their obligations thereunder); (iii) $100.0 million of the outstanding balance due to Cannae under the Intercompany Credit Facility was exchanged for 66.7% of the direct equity interest in 99 Holdings (with ABRH being the direct holder of the remaining 33.3% of the equity interests in 99 Holdings); (iv) FNH paid a facilitation fee to us in the form of 18,023,407 Class A units of FNH and (v) ABRH agreed to continue to provide support services to the 99 Companies. As a result of the ABRH-99 Restructuring, Cannae (x) owns 65.4% of FNH directly and (y) 88.5% of 99 Holdings beneficially (through a combination of its directly held equity interests in 99 Holdings and the equity interests it holds in FNH).

On December 21, 2018, a wholly-owned subsidiary of 99 Restaurants entered into a credit agreement (the "99 Restaurants Credit Facility") with various banks. Proceeds of $36.2 million were received at closing and primarily used to repay the remaining balance outstanding under the Intercompany Credit Facility that formerly eliminated in consolidation. See Note K for further details of the material terms of the agreements.

During the year ended December 31, 2018, we entered into a plan to sell certain real estate assets of ABRH including its corporate offices located in Nashville, Tennessee and Denver, Colorado. In conjunction with the plan of sale, we reclassified $9.3 million of assets held for sale from Property and equipment, net to Prepaid expenses and other current assets on the Consolidated and Combined Balance Sheet as of December 31, 2018.

Other Developments

On November 7, 2018, our wholly-owned subsidiary entered into a Margin Loan Agreement (the "Loan Agreement"), and certain other related agreements, with various lenders pursuant to which we may borrow up to $300.0 million (the "Margin Facility") in term loans at an interest rate of the three-month LIBOR plus an applicable margin. See Note K for further discussion.

On August 10, 2018, our Board of Directors adopted a resolution increasing the size of the Company’s Board of Directors to eight, and elected Erika Meinhardt to serve on our Board of Directors. Ms. Meinhardt will serve in Class II of our Board of Directors, and her term will expire at the annual meeting of our shareholders to be held in 2019. Ms. Meinhardt has not been appointed to any committee of our Board.

Cash and Cash Equivalents

Highly liquid instruments, including money market instruments, purchased as part of cash management with original maturities of three months or less, and certain amounts in transit from credit and debit card processors, are considered cash equivalents. The carrying amounts reported in the Consolidated and Combined Balance Sheets for these instruments approximate their fair value.

Investments

Fixed maturity securities are purchased based on factors including rate of return, maturity, credit risk, duration, and tax considerations. Fixed maturity securities, which may be sold prior to maturity, are carried at fair value and are classified as available for sale as of the balance sheet dates. Fair values for fixed maturity securities are principally a function of current market conditions and are valued based on quoted prices in markets that are not active or model inputs that are unobservable. See Note C. Discount or premium is recorded for the difference between the purchase price and the principal amount. The discount or premium is amortized or accrued using the interest method and is recorded as an adjustment to interest and investment income. The interest method results in the recognition of a constant rate of return on the investment equal to the prevailing rate at the time of purchase or at the time of subsequent adjustments of book value.

Equity securities held are carried at fair value as of the balance sheet dates. Our equity securities are Level 1 financial assets and fair values are based on quoted prices in active markets.

Investments in unconsolidated affiliates are recorded using the equity method of accounting.

Realized gains and losses on the sale of investments are determined on the basis of the cost of the specific investments sold and are credited or charged to income on a trade date basis. Unrealized gains or losses on fixed maturity securities which are classified as available for sale, net of applicable deferred income tax expenses (benefits), are excluded from earnings and credited or charged directly to a separate component of equity. If any unrealized losses on available for sale securities are determined to be other-than-temporary, such unrealized losses are recognized as realized losses. Unrealized losses are considered other-than-temporary if factors exist that cause us to believe that the value will not increase to a level sufficient to recover our cost basis. Some factors considered in evaluating whether or not a decline in fair value is other-than-temporary include: (i) our need and intent to sell the investment prior to a period of time sufficient to allow for a recovery in value; (ii) the duration and extent to which the fair value has been less than cost; and (iii) the financial condition and prospects of the issuer. Such reviews are inherently uncertain and the value of the investment may not fully recover or may decline in future periods resulting in a realized loss.

Fair Value of Financial Instruments

The fair values of financial instruments presented in the Consolidated and Combined Financial Statements are estimates of the fair values at a specific point in time using available market information and appropriate valuation methodologies. These estimates are subjective in nature and involve uncertainties and significant judgment in the interpretation of current market data. We do not necessarily intend to dispose of or liquidate such instruments prior to maturity. See Note C Fair Value Measurements for further details.

Trade Receivables

Restaurant Group. Trade receivables on the Consolidated and Combined Balance Sheets for the Restaurant Group consists primarily of billings to third-party customers of ABRH's bakery business, business to business gift card sales, insurance-related reimbursement, rebates, tenant improvement allowances, and billings to franchisees for royalties, initial and renewal fees, equipment sales and rent. Trade receivables are recorded net of an allowance for doubtful accounts which is our best estimate of the amount of probable credit losses related to existing receivables.

T-System. Trade receivables on the Consolidated and Combined Balance Sheets for T-System consists primarily of billings to third-party customers that are carried at the invoiced amount and unbilled receivables less an estimate for doubtful accounts.

The carrying values reported in the Consolidated and Combined Balance Sheets for trade receivables approximate their fair value.

Inventory

Inventory primarily consists of raw materials, finished pies, food, beverages packaging and supplies in our Restaurant Group segment and is stated at the lower of cost or net realizable value. Cost is determined using the first in, first out method for restaurant inventory and standard cost that approximates actual cost on a first in, first out basis for the bakery operations.

Other long term investments and non-current assets

Other long-term investments consist of land held for investment purposes, which are carried at historical cost.

Other non-current assets include notes receivable from third-parties and other miscellaneous non-current assets.

Goodwill

Goodwill represents the excess of cost over fair value of identifiable net assets acquired and assumed in business combinations. Goodwill and other intangible assets with indefinite useful lives are reviewed for impairment annually or more frequently if circumstances indicate potential impairment, through a comparison of fair value to the carrying amount. We have the option to first assess goodwill for impairment based on a review of qualitative factors to determine if events and circumstances exist which will lead to a determination that the fair value of a reporting unit is greater than its carrying amount, prior to performing a full fair-value assessment. If, after assessing the totality of events or circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the quantitative impairment test is unnecessary. However, if the Company concludes otherwise, then it is required to perform the quantitative impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount of the reporting unit. Goodwill impairment, if any, is measured as the amount by which a reporting unit’s carrying value exceeds its fair value.

For the year ended December 31, 2018 we recorded $26.7 million of impairment to goodwill in our Restaurant Group segment. The impairment charge was a result of deteriorating operating results and cash flow resulting from declining same store sales and increased costs. The impairment recorded was calculated as the deficit between the carrying value of a reporting unit of the Restaurant Group segment compared to the fair value of the reporting unit determined by performing a combination of discounted cash flow and market approaches.

For years ended December 31, 2017 and 2016, we determined that there were no events or circumstances which indicated that the carrying value of goodwill exceeded the fair value and no impairment was recorded.

Other Intangible Assets

We have other intangible assets, not including goodwill, which consist primarily of customer relationships and contracts, trademarks and tradenames which are generally recorded in connection with acquisitions at their fair value, franchise rights, the fair value of purchased software and capitalized software development costs. Intangible assets with estimable lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In general, customer relationships are amortized over their estimated useful lives using an accelerated method which takes into consideration expected customer attrition rates. Contractual relationships are generally amortized over their respective contractual lives. Useful lives of computer software range from 3 to 10 years. Trademarks and tradenames are generally considered intangible assets with indefinite lives and are reviewed for impairment at least annually. Capitalized software development costs and purchased software are recorded at cost and amortized using the straight-line method over their estimated useful life.

We recorded $5.8 million of impairment expense related to a tradename and an abandoned software project in our Restaurant Group in the year ended December 31, 2018. We recorded $2.9 million of impairment expense related to a tradename in our Restaurant Group in the year ended December 31, 2017. We recorded no impairment expense related to other intangible assets in the year ended December 31, 2016.

Property and Equipment, net

Property and equipment, net are recorded at cost, less accumulated depreciation. Depreciation is computed primarily using the straight-line method based on the estimated useful lives of the related assets: thirty to forty years for buildings and three to twenty-five years for furniture, fixtures and equipment. Leasehold improvements are amortized on a straight-line basis over the lesser of the term of the applicable lease or the estimated useful lives of such assets. Property and equipment are reviewed for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable.

In our Restaurant Group, all direct external costs associated with obtaining the land, building and equipment for each new restaurant, as well as construction period interest are capitalized. Direct external costs associated with obtaining the dining room and kitchen equipment, signage and other assets and equipment are also capitalized. In addition, for each new restaurant and re-branded restaurant, a portion of the internal direct costs of its real estate and construction department are also capitalized.

We recorded $8.1 million, $6.9 million, and $2.8 million of impairment expense related to Property and equipment in our Restaurant Group segment in the years ended December 31, 2018, 2017 and 2016, respectively, which is recorded within Other operating expenses on our Consolidated and Combined Statement of Operations for the years then ended.

Insurance Reserves

Our restaurant group companies are currently self-insured for a portion of its workers' compensation, general liability, and liquor liability losses (collectively, casualty losses) as well as certain other insurable risks. To mitigate the cost of its exposures for certain property and casualty losses, we make annual decisions to either retain the risks of loss up to a certain maximum per occurrence, aggregate loss limits negotiated with its insurance carriers, or fully insure those risks. Our restaurant group companies are also self-insured for healthcare claims for eligible participating employees subject to certain deductibles and limitations. We have accounted for such retained liabilities for casualty losses and healthcare claims, including reported and incurred but not reported claims, based on information provided by third-party actuaries. As of December 31, 2018, our restaurant group companies were committed under letters of credit totaling $15.4 million issued primarily in connection with casualty insurance programs.

Income Taxes

We recognize deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of our assets and liabilities and expected benefits of utilizing net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The impact of changes in tax rates and laws on deferred taxes, if any, is applied to the years during which temporary differences are expected to be settled and reflected in the financial statements in the period enacted.

We recognize the benefits of uncertain tax positions in the financial statements only after determining a more likely than not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. When facts and circumstances change, we reassess these probabilities and record any changes in the financial statements as appropriate. Uncertain tax positions are accounted for by determining the minimum recognition threshold that a tax position is required to meet before being recognized in the financial statements. This determination requires the use of judgment in assessing the timing and amounts of deductible and taxable items. Tax positions that meet the more likely than not recognition threshold are recognized and measured as the largest amount of tax benefit that is more than 50% likely to be realized upon settlement with a taxing authority that has full knowledge of all relevant information. The Company recognizes interest and penalties accrued related to unrecognized tax benefits as components of income tax expense.

Parent Investment in FNFV

Parent investment in FNFV on the Consolidated and Combined Statement of Equity represents FNF's historical investment in the Company, the Company's accumulated net earnings after taxes prior to the Split-Off, and the net effect of transactions with and allocations from FNF prior to the Split-Off. In conjunction with the Split-Off, Parent investment in FNFV was reclassified to Additional paid-in capital.

Revenue Recognition

Refer to Note U.

Advertising Costs

The Company expenses advertising and marketing costs as incurred, except for certain advertising production costs that are initially capitalized and subsequently expensed the first time the advertising takes place. During the years ended December 31, 2018, 2017, and 2016, the Company incurred $35.6 million, $35.6 million, and $36.1 million of advertising and marketing costs, respectively, related to advertising at ABRH, T-System and in our real estate operations. These costs are included in Other operating expenses on the Consolidated and Combined Statements of Operations.

Comprehensive Earnings (Loss)

We report comprehensive earnings (loss) in accordance with GAAP on the Consolidated and Combined Statements of Comprehensive Earnings (Loss). Total comprehensive earnings (loss) are defined as all changes in shareholders' equity during a period, other than those resulting from investments by and distributions to shareholders. While total comprehensive earnings (loss) is the activity in a period and is largely driven by net earnings in that period, accumulated other comprehensive earnings or loss represents the cumulative balance of other comprehensive earnings, net of tax, as of the balance sheet date. Amounts reclassified to net earnings relate to the realized gains (losses) on our investments and other financial instruments, excluding investments in unconsolidated affiliates, and are included in Realized gains and losses, net on the Consolidated and Combined Statements of Operations.

Changes in the balance of other comprehensive earnings (loss) by component are as follows:



	Unrealized gain (loss) on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)			Unrealized (loss) gain relating to investments in unconsolidated affiliates			Total Accumulated Other Comprehensive (Loss) Earnings
	(In millions)
Balance December 31, 2016	$	4.9		$	(73.0	)	$	(68.1	)
Other comprehensive (losses) earnings	(8.7		)	8.9			0.2
Reclassification adjustments	(3.1		)	—			(3.1		)
Balance December 31, 2017	(6.9		)	(64.1		)	(71.0		)
Other comprehensive (losses) earnings	0.9			(12.0		)	(11.1		)
Adjustment for adoption of ASU 2018-02	(1.6		)	(14.5		)	(16.1		)
Reclassification adjustments	7.0			24.0			31.0
Balance December 31, 2018	$	(0.6	)	$	(66.6	)	$	(67.2	)

Stock-Based Compensation Plans

Stock-based compensation expense includes restricted stock awards granted to certain members of management in Cannae common stock, as well as in historical FNFV Group tracking stock. We account for stock-based compensation plans using the fair value method. Under the fair value method of accounting, compensation cost is measured based on the fair value of the award at the grant date, using quoted market prices of the underlying stock, and recognized over the service period. See Note O.

Earnings Per Share

Basic earnings per share, as presented on the Consolidated and Combined Statement of Operations, is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding during the period.

On November 17, 2017, the date of the consummation of the Split-Off, 70.6 million common shares of CNNE were distributed to FNFV Group shareholders. For comparative purposes, the weighted average number of common shares outstanding and basic and diluted earnings per share for the year ended December 31, 2016 was calculated using the number of shares distributed as if those shares were issued and outstanding beginning January 1, 2016.

In periods when earnings are positive, diluted earnings per share is calculated by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding plus the impact of assumed conversions of potentially dilutive securities. For periods when we recognize a net loss, diluted earnings per share is equal to basic earnings per share as the impact of assumed conversions of potentially dilutive securities is considered to be antidilutive. We have granted certain shares of restricted stock which have been treated as common share equivalents for purposes of calculating diluted earnings per share for periods in which positive earnings have been reported.

Instruments which provide the ability to purchase shares of our common stock that are antidilutive are excluded from the computation of diluted earnings per share. For the year ended December 31, 2018, no antidilutive shares were outstanding. For the year ended December 31, 2017, 0.1 million shares of restricted stock were excluded from the calculation of diluted earnings per share as they were antidilutive.

Correction of Prior Interim Periods of the Current Year

In connection with the preparation of our Consolidated and Combined Financial Statements for the year ended December 31, 2018, we identified and corrected errors pertaining to (1) our adjustment for the cumulative effect of the adoption of ASC Topic 606 as of the date of adoption (January 1, 2018), (2) adjustments to the opening balance sheet of T-System in order to add a contract asset for its unbilled accounts receivable and to remove a portion of deferred revenue for which T-System had no further performance obligations, and (3) our accounting for certain revenue transactions in our T-System segment for each of our Quarterly Reports on Form 10-Q as of March 31, 2018, June 30, 2018 and September 30, 2018. As a result of errors identified in our adjustment for the cumulative effect of the adoption of ASC Topic 606 as of the date of adoption (January 1, 2018) the cumulative effect adjustment decreased by $2.4 million from the $4.3 million (net of tax), as reported, to $1.9 million (net of tax), as corrected.

In accordance with accounting guidance found in ASC Topic 250-10 Accounting Changes and Error Corrections (SEC Staff Accounting Bulletin Topic 1M), we assessed the materiality of the errors from quantitative and qualitative perspectives and concluded that the errors were not material, individually or in the aggregate, to any of our previously issued financial statements on Form 10-Q. Consequently, we will correct these errors prospectively in our quarterly filings on Form 10-Q.

Acquisitions and Dispositions

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Acquisitions and Dispositions

The results of operations and financial position of the entities acquired during any period are included in the Consolidated and Combined Financial Statements from and after the date of acquisition.

T-System

On October 16, 2017, we completed the T-System Merger for aggregate merger consideration of $202.2 million. T-System is a provider of clinical documentation and coding solutions to hospital-based and free-standing emergency departments and urgent care facilities.

The Company paid total consideration, net of cash received, of $200.9 million in exchange for 100% of the equity ownership of T-System. The total consideration paid was as follows (in millions):



Cash paid	$	202.2
Less: Cash acquired	1.3
Total cash consideration paid	$	200.9

The purchase price has been allocated to T-System's assets acquired and liabilities assumed based on our best estimates of their fair values as of the acquisition date. Our accounting for the T-System Merger was completed in the quarter ended December 31, 2018. The primary measurement period adjustments were (1) a $8.9 million decrease to Deferred revenue and a $5.7 million decrease to Goodwill (net of Deferred tax assets of $3.2 million) to remove the portion of the revenue for which the Company had no further performance obligations as of the acquisition date and (2) a $14.5 million decrease in Other intangible assets and corresponding $8.2 million increase in Other noncurrent assets and $6.3 million increase in Trade receivables for unbilled accounts receivable under ASC Topic 606. Goodwill has been recorded based on the amount that the purchase price exceeds the fair value of the net assets acquired. $32.8 million of the goodwill recorded is expected to be deductible for tax purposes.

The following table summarizes the total purchase price consideration and the fair value amounts recognized for the assets acquired, excluding cash received, and liabilities assumed as of the acquisition date (in millions):



	Fair Value
Trade receivables	$	17.5
Prepaid and other current assets	2.0
Property and equipment	1.2
Goodwill	88.3
Other intangible assets	100.5
Other noncurrent assets	8.2
Total assets acquired	217.7

Accounts payable and accrued liabilities	6.6
Deferred revenue	2.1
Deferred tax liabilities	8.1
Total liabilities assumed	16.8
Net assets acquired	$	200.9

For comparative purposes, selected unaudited pro-forma combined results of operations of Cannae for the years ended December 31, 2017 and 2016 are presented below (in millions). Pro-forma results presented assume the consolidation of T-System occurred as of the beginning of the 2016 period. Amounts are adjusted to exclude costs directly attributable to the acquisition of T-System, including transaction costs and amortization of acquired intangible assets.



	Year ended December 31,
	2017		2016
	(Unaudited)
Total revenues	$	1,214.8	$	1,242.5
Net earnings (loss) attributable to Cannae Holdings	109.8		(5.4		)

The gross carrying values and weighted average estimated useful lives of property and equipment and other intangible assets acquired in the T-System acquisition consists of the following (dollars in millions):



	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)
Property and equipment	$	1.2	3 - 5
Other intangible assets:
Customer relationships	51.0		10
Computer software	40.3		9
Tradename	9.2		10
Total other intangible assets	100.5
Total	$	101.7

Corporate and other

Brasada

On January 18, 2016, we completed our purchase of certain assets of Brasada Ranch Development, LLC, Brasada Ranch Hospitality, LLC, Brasada Ranch Utilities, LLC, Brasada Rental Management, LLC, and Oregon Resorts, LLC (collectively, "Brasada") through our 87% owned subsidiary FNF NV Brasada, LLC. Brasada is a ranch-style resort in Bend/Powell Butte, Oregon which offers luxury accommodations, championship golf, world-class dining and amenities, and vast recreational activities. The acquisition was made to supplement our resort, land and real estate holdings.

The Company paid total consideration, net of cash received, of $27.5 million in exchange for the assets of Brasada. The total consideration paid was as follows (in millions):



Cash paid	$	12.0
Cash consideration financed through a mortgage loan	15.5
Total cash consideration paid	$	27.5

The purchase price has been allocated to Brasada's assets acquired and liabilities assumed based on our best estimates of their fair values as of the acquisition date.



	Fair Value
Trade receivables	$	0.4
Prepaid and other current assets	1.2
Other long-term investments	8.7
Property and equipment	14.4
Other intangible assets	7.0
Total assets acquired	31.7

Accounts payable and accrued liabilities	1.1
Deferred revenue	1.1
Notes payable	0.2
Total liabilities assumed	2.4
Total noncontrolling assumed	1.8
Net assets acquired	$	27.5

For comparative purposes, selected unaudited pro-forma combined results of operations of Cannae Holdings for the year ended December 31, 2016 is presented below (in millions). Pro-forma results presented assume the consolidation of Brasada occurred as of the beginning of the 2016 period. Amounts are adjusted to exclude costs directly attributable to the acquisition of Brasada, including transaction costs.



	Year ended December 31,
	2016
	(Unaudited)
Total revenues	$	1,179.4
Net loss attributable to Cannae Holdings	(11.7		)

The gross carrying values and weighted average estimated useful lives of property and equipment and other intangible assets acquired in the Brasada acquisition consists of the following (dollars in millions):



	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)
Property and equipment	$	14.4	3 - 40
Other intangible assets:
Management services contract	5.2		12
Tradename	1.8		15
Total other intangible assets	7.0
Total	$	21.4

Dispositions

On June 6, 2017, we closed on the sale of Digital Insurance, Inc. ("OneDigital") for $560.0 million in an all-cash transaction. After repayment of debt, payout to option holders and a minority equity investor and other transaction-related payments, the Company received $331.4 million from the sale, which includes $326.0 million in cash and $5.4 million in purchase price holdback receivable. We recognized a pre-tax gain of $276.0 million on the sale and $126.3 million in income tax expense which are included in Net earnings from discontinued operations on the Consolidated and Combined Statement of Operations for the year ended December 31, 2017. We received $4.5 million of the purchase price holdback and wrote-off the remainder in the year ended December 31, 2018.

On January 25, 2016, we completed the sale of our Max & Erma's restaurant concept for $6.5 million pursuant to an Asset Purchase Agreement ("APA"). In the year ended December 31, 2016 we recorded $3.0 million in total expense, inclusive of a $2.5 million loss on the sale and $0.5 million in impairment charges related to the sale which are included in realized gains and (losses), net and other operating expense, respectively, on the Consolidated and Combined Statements of Operations for the year then ended.

Fair Value Measurements

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

The fair value hierarchy established by the accounting standards on fair value measurements includes three levels which are based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Financial assets and liabilities that are recorded in the Consolidated and Combined Balance Sheets are categorized based on the inputs to the valuation techniques as follows:

Level 1. Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that we have the ability to access.

Level 2. Financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability.

Level 3. Financial assets and liabilities whose values are based on model inputs that are unobservable.

Recurring Fair Value Measurements

The following table presents our fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 and 2017, respectively:



	December 31, 2018
	Level 1		Level 2		Level 3		Total
	(In millions)
Assets:
Fixed-maturity securities available for sale:
Corporate debt securities	$	—	$	—	$	17.8	$	17.8
Total assets	$	—	$	—	$	17.8	$	17.8



	December 31, 2017
	Level 1		Level 2		Level 3		Total
	(In millions)
Assets:
Fixed-maturity securities available for sale:
Corporate debt securities	$	—	$	14.8	$	—	$	14.8
Equity securities	17.7		—		—		17.7
Total assets	$	17.7	$	14.8	$	—	$	32.5

Our Level 3 fair value measurement for our fixed maturity securities available for sale are provided by a single third-party pricing service. Depending on security specific characteristics, either an income or a contingent claims approach was utilized in determining fair value of our Level 3 fixed-maturity securities available for sale. Discount rates are the primary unobservable inputs utilized for the securities valued using an income approach. The discount rates used are based on company-specific risk premiums, public company comparable securities, and leveraged loan indices. The discount rates used in our determination of the fair value of our Level 3 fixed-maturity securities available for sale varies by security type and ranged from 17.0% to 17.5% and had a weighted average of 17.5% as of December 31, 2018. Based on the total fair value of our Level 3 fixed-maturity securities available for sale as of December 31, 2018, changes in the discount rate utilized will not result in a fair value significantly different than the amount recorded.

The following table presents a summary of the changes in the fair values of Level 3 assets, measured on a recurring basis, for the year ended December 31, 2018.



	December 31, 2018
	Corporate debt
	securities

Fair value, December 31, 2017	$	—
Transfers from Level 2	21.4
Paid-in-kind dividends and interest (1)	0.3
Accretion of original purchase discount (1)	0.7
Impairment (2)	(12.5		)
Reclassification of impairment previously included in other comprehensive earnings to net earnings	7.9
Fair value, December 31, 2018	$	17.8

(1) Included in Interest and investment income on the Consolidated and Combined Statements of Operations

(2) Included in Realized gains, net on the Consolidated and Combined Statements of Operations

Transfers into or out of the Level 3 fair value category occur when unobservable inputs become more or less significant to the fair value measurement or upon a change in valuation technique. For the year ended December 31, 2018, transfers between Level 2 and Level 3 were based on changes in significance of unobservable inputs used associated with a change in the service provider and in the valuation technique used to value our corporate debt securities. The Company’s policy is to recognize transfers between levels in the fair value hierarchy at the end of the reporting period in which they occur.

As of December 31, 2017, we held no material assets or liabilities of continuing operations measured at fair value using Level 3 inputs.

All of the unrealized gain (loss) on investments and other financial instruments, net (excluding investments in unconsolidated affiliates) on our Consolidated Statements of Comprehensive Income for the year ended December 31, 2018 relate to fixed maturity securities considered Level 3 fair value measures.

Our recurring Level 2 fair value measure for our fixed-maturity securities available for sale are provided by a third-party provider. We rely on one price for the instruments to determine the carrying amount of the assets on our balance sheet. Quarterly, a comparable public company is utilized to determine the fair value. The inputs utilized in the analysis include observable measures such as reference data including public company operating results and share prices and market research publications. Other factors considered include the bond's yield, its terms and conditions, and any other feature which may influence its risk and thus marketability, as well as relative credit information and relevant sector news. We review the pricing methodologies for our Level 2 securities by obtaining an understanding of the valuation models and assumptions used by the third-party as well as independently comparing the resulting prices to other publicly available measures of fair value.

Additional information regarding the fair value of our investment portfolio is included in Note D.

The carrying amounts of trade receivables and notes receivable approximate fair value due to their short-term nature. The fair value of our notes payable is included in Note K.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Investments

12 Months Ended

Dec. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Investments

Available for Sale Securities

The carrying amounts and fair values of our available for sale securities at December 31, 2018 and 2017 are as follows:



	December 31, 2018
	Carrying Value		Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
	(In millions)
Fixed maturity securities available for sale:
Corporate debt securities	$	17.8	$	18.8	$	0.9	$	(1.9	)	$	17.8
Total	$	17.8	$	18.8	$	0.9	$	(1.9	)	$	17.8



	December 31, 2017
	Carrying Value		Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
	(In millions)
Fixed maturity securities available for sale:
Corporate debt securities	$	14.8	$	26.3	$	0.3	$	(11.8	)	$	14.8
Equity securities	17.7		17.7		0.3		(0.3		)	17.7
Total	$	32.5	$	44.0	$	0.6	$	(12.1	)	$	32.5

The cost basis of fixed maturity securities available for sale includes an adjustment for amortized premium or discount since the date of purchase.

As of December 31, 2018, the fixed maturity securities in our investment portfolio were corporate debt securities with a maturity of greater than one year but less than five years. Expected maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

Net unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2018 were as follows (in millions):



	Less than 12 Months
	Fair		Unrealized
	Value		Losses
Corporate debt securities	$	10.4	$	(1.9	)
Total temporarily impaired securities	$	10.4	$	(1.9	)

During the year ended December 31, 2018, we incurred $12.5 million of other-than-temporary impairment charges relating to corporate debt securities which is included in Realized gains (losses), net on the Consolidated and Combined Statements of Operations. The impairment recorded relates to a corporate debt holding which has experienced a prolonged period of declining earnings and which we are uncertain of our ability to recover our initial investment. All of the loss represents credit loss recognized in earnings and no portion of the loss was included in other comprehensive earnings. During the year ended December 31, 2017, we incurred no other-than-temporary impairment charges relating investments in fixed-income or equity securities.

During the year ended December 31, 2018 and 2017, we sold equity securities for gross proceeds of $17.7 million and $31.6 million, respectively, resulting in net realized gains of less than $0.1 million and $5.1 million, respectively. We sold no securities in the year ended December 31, 2016.

During the years ended December 31, 2017 and 2016 we incurred no other-than-temporary impairment charges relating to available for sale investments. We recorded realized gains of less than $0.1 million and $5.1 million, respectively, in the years ended December 31, 2018 and 2017 related to the sales of equity securities. We recorded no realized gains or losses on investment securities in the year ended December 31, 2016.

As of December 31, 2018, we held $2.3 million of corporate debt securities for which an other-than-temporary impairment had been previously recognized. It is possible that future events may lead us to recognize potential future impairment losses related to our investment portfolio and that unanticipated future events may lead us to dispose of certain investment holdings and recognize the effects of any market movements in our results of operations.

Investments in Unconsolidated Affiliates

Investments in unconsolidated affiliates recorded using the equity method of accounting as of December 31, 2018 and 2017 consisted of the following (in millions):



	Ownership at December 31, 2018		2018		2017
Ceridian Holding LLC	—	%	$	—	$	324.9
Ceridian Holding II LLC	—	%	—		58.4
Ceridian	23.5	%	$	359.7	—
Total investment in Ceridian			359.7		383.3
Other	various		37.5		41.6
Total			$	397.2	$	424.9

As a result of an internal restructuring occurring upon the closing of the Ceridian IPO, Ceridian Holding LLC and Ceridian Holding II LLC (collectively, "Ceridian LLC") were merged with and into Ceridian and all ownership interests therein were exchanged for common stock of Ceridian.

Based on quoted market prices, the aggregate value of our ownership of Ceridian common stock is $1.1 billion as of December 31, 2018.

Other Long-term Investments

Other long-term investments primarily consist of land held for investment purposes. In the year ended December 31, 2016 we recorded $3.0 million in impairment charges related to a formerly owned cost-method investment in which we determined recoverability of our investment was unlikely. The impairment is included in realized gains, net on the Consolidated and Combined Statement of Operations.

Short-term Investments

Short-term investments consist primarily of commercial paper and short-duration U.S. agency securities which have an original maturity of greater than three months but less than one year. Short-term investments are carried at amortized cost, which approximates fair value.

Property and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment



Property and equipment consists of the following:
	Year Ended December 31,
	2018			2017
	(In millions)
Furniture, fixtures and equipment	$	192.9		$	192.8
Leasehold improvements	138.5			146.3
Land	34.4			38.7
Buildings	27.2			33.5
	393.0			411.3
Accumulated depreciation and amortization	(216.6		)	(192.5		)
	$	176.4		$	218.8

Depreciation expense on property and equipment was $38.5 million, $41.9 million, and $41.4 million for the years ended December 31, 2018, 2017, and 2016, respectively.

Goodwill

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill consists of the following:



		Restaurant Group			T-System			Corporate and Other		Total
	(in millions)
Balance, December 31, 2016		$	103.1		$	—		$	—	$	103.1
Goodwill acquired during the year		—			99.6			—		99.6
Balance, December 31, 2017		$	103.1		$	99.6		$	—	$	202.7
Measurement period adjustments to prior year acquisitions		—			(11.2		)	—		(11.2		)
Impairment		(26.7		)	—			—		(26.7		)
Balance, December 31, 2018		$	76.4		$	88.4		$	—	$	164.8

See Note A for further information on current year goodwill impairment and Note B for further information on Goodwill acquired in conjunction with material business combinations.

Variable Interest Entities

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

The Company, in the normal course of business, engages in certain activities that involve variable interest entities ("VIEs"), which are legal entities in which the equity investors as a group lack any of the characteristics of a controlling interest. The primary beneficiary of a VIE is generally the enterprise that has both the power to direct the activities most significant to the economic performance of the VIE and the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. The Company evaluates its interest in certain entities to determine if these entities meet the definition of a VIE and whether the Company is the primary beneficiary and should consolidate the entity based on the variable interests it held both at inception and when there is a change in circumstances that requires a reconsideration. If the Company is determined to be the primary beneficiary of a VIE, it must account for the VIE as a consolidated subsidiary. If the Company is determined not to be the primary beneficiary of a VIE but holds a variable interest in the entity, such variable interests are accounted for under accounting standards as deemed appropriate. As of and for the years ended December 31, 2018, 2017 and 2016, we are not the primary beneficiary of any VIEs.

Unconsolidated VIEs

The table below summarizes select information related to variable interests held by the Company as of December 31, 2018 and 2017, of which we are not the primary beneficiary:



		2018		2017
		Total Assets	Maximum Exposure	Total Assets	Maximum Exposure
	(in millions)
Investments in unconsolidated affiliates		9.2	9.2	13.0	14.7

Investments in Unconsolidated Affiliates

The Company holds variable interests in certain unconsolidated affiliates, outlined in the table above, which are primarily comprised of funds that hold minority ownership investments primarily in healthcare-related entities. The principal risk to which these funds are exposed is credit risk related to the underlying investees. In addition to the book value of our investments in unconsolidated affiliates, the maximum exposure to loss also includes $1.7 million as of December 31, 2017 for a note receivable from an investee. We do not provide any implicit or explicit liquidity guarantees or principal value guarantees to these VIEs. The assets are included in investments in unconsolidated affiliates on the Consolidated and Combined Balance Sheets and accounted for under the equity method of accounting.

Other Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

Other intangible assets consist of the following:



	December 31,
	2018			2017
	(In millions)
Trademarks and tradenames	$	80.3		$	84.0
Software	57.4			67.4
Customer relationships and contracts	56.2			61.8
Other	51.4			17.4
	245.3			230.6
Accumulated amortization	(69.5		)	(16.1		)
	$	175.8		$	214.5

Amortization expense for amortizable intangible assets, which consist primarily of customer relationships and software, was $22.8 million, $7.4 million, and $3.4 million for the years ended December 31, 2018, 2017 and 2016, respectively. Estimated amortization expense for the next five years for assets owned at December 31, 2018, is $22.4 million in 2019, $19.7 million in 2020, $16.5 million in 2021, $14.0 million in 2022 and $12.6 million in 2023. As of December 31, 2018 and 2017, we had $69.2 million and $71.6 million, respectively of indefinite-lived tradenames.

Inventory

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Inventory

Inventory consists of the following:



	December 31,
	2018			2017
	(In millions)
Bakery inventory:
Raw materials	$	6.8		$	9.1
Semi-finished and finished goods	5.6			7.5
Packaging	2.4			2.8
Obsolescence reserve	(3.0		)	(0.6		)
Total bakery inventory	11.8			18.8
Restaurant and other inventory	10.3			10.9
Other, non-restaurant inventory	0.2			—
Total inventory	$	22.3		$	29.7

Accounts Payable and Other Accrued Liabilities

12 Months Ended

Dec. 31, 2018

Payables and Accruals [Abstract]

Accounts Payable and Other Accrued Liabilities

Accounts payable and other accrued liabilities, current consist of the following:



	December 31,
	2018		2017
	(In millions)
Accrued payroll and employee benefits	$	23.9	$	23.7
Trade accounts payable	23.4		20.3
Accrued casualty insurance expenses	16.7		16.5
Other accrued liabilities	34.4		40.2
	$	98.4	$	100.7

Accounts payable and other accrued liabilities, long term consist of the following:



	December 31,
	2018		2017
	(In millions)
Unfavorable lease liability	$	20.9	$	25.6
Other accrued liabilities	36.5		36.9
	$	57.4	$	62.5

Notes Payable

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Notes Payable

Notes payable consists of the following:



	December 31,
	2018		2017
	(In millions)
ABRH Term Loan	$	—	$	84.2
ABRH Revolving Credit Facility	—		38.0
99 Term Loan, due December 21, 2023 with interest payable monthly at 8.00%	36.1		—
99 Revolver, unused portion of $15.0 million at December 31, 2018	—		—
DLOC Loan, unused portion of $10.0 million at December 31, 2018	—		—
Margin Facility, unused portion of $300.0 million at December 31, 2018	—		—
Brasada Interstate Loans, due January 2026 with interest payable at varying rates	11.7		12.1
FNF Revolver, unused portion of $100.0 million at December 31, 2018	—		—
Other	0.3		0.6
Notes payable, total	$	48.1	$	134.9
Less: Notes payable, current	5.9		122.2
Notes payable, long term	$	42.2	$	12.7

At December 31, 2018, the carrying value of our outstanding notes payable approximated fair value. The respective carrying values of the 99 Term Loan, ABRH Term Loan and the B Note, Development Loan and Line of Credit Loan pursuant to the Interstate Credit Agreement, each as defined below, approximate fair value as they are variable rate instruments with monthly reset periods which reflect current market rates. The revolving credit facilities are considered Level 2 financial liabilities. The fixed-rate A Note, as defined below, pursuant to the Interstate Credit Agreement approximates fair value as of December 31, 2018.

On December 21, 2018, 99 Restaurants LLC, a direct, wholly-owned subsidiary of 99 Restaurants entered into the 99 Restaurants Credit Facility with Fifth Third Bank and other lenders thereto. The 99 Restaurants Credit Facility provides for (i) a maximum revolving loan of $15.0 million (the “99 Revolver”) with a maturity date of December 21, 2023; (ii) a maximum term loan of $37.0 million (the "99 Term Loan") with monthly installment repayments through November 30, 2023 and a maturity date of December 21, 2023 for the outstanding unpaid principal balance; and (iii) a maximum Development Line of Credit loan (the “DLOC Loan”) of up to $10.0 million to be advanced from time to time through December 21, 2020, with quarterly installment payments through (a) September 30, 2024 with respect to DLOC Loans borrowed prior to December 21, 2019, and (b) September 30, 2025 with respect to DLOC Loans borrowed on or after December 21, 2019. Interest on the 99 Credit Facility is based on, at our option, an applicable margin of (x) two and one half percent (2.50%) per annum with respect to Base Rate Loans, as provided therein, and (y) three and one half percent (3.50%) per annum with respect to LIBOR Loans, as provided therein. The 99 Restaurants Credit Facility also allows for 99 Restaurants LLC to request up to $5.0 million of letters of credit commitments and $2.5 million in swingline debt from Fifth Third Bank as the administrative agent. The obligations of the 99 Restaurants LLC under the 99 Restaurants Credit Facility are guaranteed by 99 Restaurants. The 99 Restaurants Credit Facility is subject to affirmative, negative and financial covenants customary for financings of this type, including, among other things, limits on the Borrower’s creation of liens, sales of assets, incurrence of indebtedness, restricted payments and transactions with affiliates. The 99 Restaurants Credit Facility includes customary events of default for facilities of this type (with customary grace periods, as applicable). The 99 Restaurants Credit Facility provides that, upon the occurrence of an event of default, Fifth Third Bank, as administrative agent, may (i) declare the principal of, and any and all accrued and unpaid interest and all other amounts owed in respect of, the loans immediately due and payable, (ii) terminate loan commitments and (iii) exercise all other rights and remedies available to Fifth Third Bank or the lenders under the loan documents. Proceeds of $36.2 million for the 99 Term Loan were received at closing and primarily used to repay the remaining balance outstanding under the Intercompany Credit Facility. As of December 31, 2018, interest on the 99 Term Loan is payable every other month at a rate of 8.00% and we have $25.0 million available to borrow under the 99 Revolver and DLOC Loan.

On November 7, 2018, Cannae Funding, LLC (the "Borrower"), a wholly-owned special purpose subsidiary of the Company, entered into a Margin Loan Agreement (the "Loan Agreement"), and certain other related agreements, with Credit Suisse AG (in such capacity, "Administrative Agent") and other lenders thereto. Pursuant to the Loan Agreement, the Borrower may borrow up to $300.0 million (the "Margin Facility") in term loans at an interest rate of the three-month LIBOR plus an applicable margin. Interest on term loans under the Margin Facility is payable in-kind or cash at the Borrower's election. The Margin Facility is collateralized by 25.0 million shares of Ceridian held by the Company which will be contributed to the Borrower prior to any draws under the Margin Facility. The Margin Facility is subject to maintenance and margin LTV ratios pursuant to which the Borrower will be required to maintain a certain loan to value ratio (based on the value of Ceridian common stock held by Borrower). In the event that this ratio is not maintained, the Borrower must post additional cash collateral under the Loan Agreement and/or elect to repay a portion of the term loans thereunder. The Loan Agreement contains customary representations and warranties, covenants, event-of-default, and margin maintenance provisions for financings of this nature which, subject to certain terms and conditions, can result in the acceleration of the principal amount of, and accrued interest on, all outstanding term loans under the Margin Facility upon occurrence. As of December 31, 2018, there are no borrowings outstanding under the Margin Facility and $300 million available to borrow. On February 7, 2019, we borrowed $150 million under the Margin Facility and used the proceeds to fund, in part, the DNB Acquisition.

Concurrently with the Loan Agreement, Cannae entered into a Guaranty (the "Guaranty Agreement") in favor of the Administrative Agent and other lenders thereto pursuant to which Cannae absolutely, unconditionally and irrevocably guaranteed all of the Borrower's obligations under the Loan Agreement for a period of up to one year after the conditions to the effectiveness of the Loan Agreement have been met. During the period in which the Guaranty Agreement is enforceable, Cannae will be liable for all obligations payable by the Borrower under the Loan Agreement and other agreements entered into in connection therewith.

On January 29, 2016, FNF NV Brasada, LLC, an Oregon limited liability company and majority-owned subsidiary of Cannae ("NV Brasada"), entered into a credit agreement with an aggregate borrowing capacity of $17.0 million (the "Interstate Credit Agreement") originally with Bank of the Cascades, as lender. The Interstate Credit Agreement provides for (i) a $12.5 million acquisition loan (the "Acquisition Loan"), (ii) a $3.0 million development loan (the "Development Loan"), and (iii) a $1.5 million line of credit loan (the "Line of Credit Loan", and collectively with the Acquisition Loan and the Development Loan, the "Interstate Loans"). On June 13, 2018, the Interstate Credit agreement was modified to add an additional line of credit of $3.6 million and to assign the loan from the Bank of the Cascades to First Interstate Bank. Pursuant to the Acquisition Loan, NV Brasada executed a $6.25 million "A Note", which accrues interest at a rate of 4.51% per annum and matures on the tenth anniversary of the issuance thereof, and a $6.25 million "B Note", which accrues interest at the rate of LIBOR plus 225 basis points, adjusted monthly, and matures on the tenth anniversary of the issuance thereof. NV Brasada makes equal monthly payments of principal and interest under the Acquisition Loan. Each of the Development Loan and the Line of Credit Loan accrue interest at the rate of LIBOR plus 225 basis points, adjusted monthly, and mature on the second anniversary of the respective issuances thereof. NV Brasada makes equal monthly payments of interest under the Development Loan and the Line of Credit Loan. The Interstate Loans are secured by certain single-family residential lots that can be sold for construction, owned by NV Brasada, and certain other operating assets owned by NV Brasada. The Company does not provide any guaranty or stock pledge under the Interstate Credit Agreement. As of December 31, 2018, there was $11.7 million, net of debt issuance costs, outstanding under the Interstate Credit Agreement; the variable rate notes incurred interest at 4.55% and there was $4.4 million available to be drawn on the Line of Credit Loan.

On November 17, 2017, FNF issued to Cannae a revolver note in aggregate principal amount of up to $100.0 million (the "FNF Revolver"). Pursuant to the FNF Revolver, FNF may make one or more loans to us in increments of $1.0 million, with up to $100.0 million outstanding at any time. The FNF Revolver accrues interest at LIBOR plus 450 basis points and matures on the five-year anniversary of the date of the FNF Revolver. The maturity date is automatically extended for additional five-year terms unless notice of non-renewal is otherwise provided by either FNF or Cannae, in their sole discretion. As of December 31, 2018, we have not made any borrowings under the FNF Revolver. On February 7, 2019, we drew the entire $100 million available and used the proceeds to fund, in part, the DNB Acquisition.

On August 19, 2014, ABRH entered into a credit agreement (the “ABRH Credit Facility”) with Wells Fargo Bank, National Association as administrative agent, Swingline Lender and Issuing Lender, Bank of America, N.A. as syndication agent and the other financial institutions party thereto. In March 2018, the ABRH Credit Facility, including the ABRH Term Loan and ABRH Revolving Credit Facility outstanding thereunder, was assigned to Cannae and the outstanding balance was paid off in its entirety.



Gross principal maturities of notes payable at December 31, 2018 are as follows (in millions):
2019	$	5.9
2020	6.6
2021	5.8
2022	5.8
2023	16.1
Thereafter	9.1
	$	49.3

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

Income tax expense (benefit) on continuing operations consists of the following:



	Year Ended December 31,
	2018			2017			2016
	(In millions)
Current	$	24.4		$	(28.2	)	$	6.2
Deferred	(11.3		)	11.6			(16.6		)
	$	13.1		$	(16.6	)	$	(10.4	)

A reconciliation of the federal statutory rate to our effective tax rate is as follows:



	Year Ended December 31,
	2018		2017		2016
Federal statutory rate	21.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	3.5		3.1		4.4
Tax credits	(27.6	)	8.6		(66.1	)
Valuation allowance	—		5.9		—
Non-deductible expenses and other, net	4.2		(5.0	)	9.1
Non-deductible executive compensation	82.1		—		—
Dividends received deduction	(41.4	)	—		—
Noncontrolling interests	43.2		(7.6	)	(2.3	)
Tax Reform	(3.8	)	(9.9	)	—
Other	—		(3.7	)	—
Effective tax rate excluding equity investments	81.2	%	26.4	%	(19.9	)%
Equity investments	(10.8	)	(4.4	)	(184.4	)
Effective tax rate	70.4	%	22.0	%	(204.3	)%

The Company’s effective tax rate at December 31, 2018, 2017, and 2016 is 70.4%, 22.0%and (204.3)%, respectively. The increase in 2018 from 2017 primarily relates to executive compensation which increased from the prior year as a result of the Tax Reform Act. The increase was partially offset by a dividends received deduction. Additionally, the impact of the non-controlling interests, permanent items, and tax credits on pretax income had a greater impact in 2018 compared to 2017 on pretax losses. The increase from 2016 to 2017 primarily relates to earnings from the Company’s equity investments and the impact of permanent items and tax credits on 2016 pretax earnings compared to pretax losses.

The significant components of deferred tax assets and liabilities at December 31, 2018 and 2017 consist of the following:



	December 31,
	2018			2017
	(In millions)
Deferred tax assets:
Employee benefit accruals	$	0.3		$	0.2
Net operating loss carryforwards	5.4			10.9
Equity investments	8.9			14.6
Investment securities	2.8			3.0
Partnerships	11.1			—
Accrued liabilities	1.8			3.3
Tax credit carryforwards	—			1.1
Other	0.5			—
Total gross deferred tax asset	30.8			33.1
Less: valuation allowance	—			0.7
Total deferred tax asset	$	30.8		$	32.4
Deferred tax liabilities:
Amortization of goodwill and intangible assets	$	(10.9	)	$	(16.8	)
Partnerships	—			(4.4		)
Depreciation	(0.2		)	(0.6		)
Other	(2.8		)	—
Total deferred tax liability	$	(13.9	)	$	(21.8	)
Net deferred tax asset	$	16.9		$	10.6

The Company's net deferred tax asset was $16.9 million and $10.6 million at December 31, 2018, and 2017, respectively. The primary changes to the deferred taxes relate to changes in equity investments, partnership interests, and the utilization of net operating losses ("NOL") and tax credit carryforwards.

The decrease of $5.7 million in the Company’s deferred tax assets on equity investments was primarily related to various basis adjustments and current year pick up of equity in earnings of unconsolidated affiliates. The $15.5 million change in the deferred tax asset related to partnerships was primarily related to book losses within the restaurant group, which includes an impairment of goodwill. The $5.9 million decrease in the Company’s deferred tax liability for intangible assets was related to current year amortization and a reclassification between intangible assets and unbilled accounts receivable as part of the Company’s opening equity adjustment related to its adoption of ASC Topic 606.

The Company’s federal and state NOL carryforwards were $18.7 million and $36.2 million at December 31, 2018 and 2017, respectively. The Company had no tax credit carryforwards at December 31, 2018 and $1.1 million at December 31, 2017. The NOLs expire in various tax years through 2038. A portion of the NOL carryforwards are subject to a Section 382 limitation; however based on the section 382 limitation amount, all of the NOL carryovers are expected to be fully utilized before they expire.

ASC 740 requires that companies assess whether a valuation allowance should be established against their deferred tax assets based on the consideration of all of the available evidence using a “more likely than not” standard. A valuation allowance is established for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets may not be realized. Management evaluated the Company’s deferred tax assets for recoverability using a consistent approach which considers the relative impact of negative and positive evidence, in particular, the Company’s historical profitability and any projections of future taxable income or potential future tax planning strategies.

The Company did not have any unrecognized tax benefits as of December 31, 2018, 2017 or 2016.

The Company's federal and state income tax returns for the tax years ended December 31, 2018 and 2017 remain subject to examination.

Tax Reform

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Reform Act”). SEC Staff Accounting Bulletin No. 118 ("SAB 118"), provided guidance for companies that had not completed their accounting for the income tax effects of the Tax Reform in the period of enactment, allowing for a measurement period of up to one year after the enactment date to finalize the recording of the related tax impacts. As of December 31, 2018, the Company has completed its accounting for the tax effects of the Tax Reform Act, and recorded an immaterial adjustment related to the revised December 31, 2017 ending deferred tax balances which changed as a result of the temporary provision to return adjustments.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal Contingencies

In the ordinary course of business, we are involved in various pending and threatened litigation and regulatory matters related to our operations, some of which include claims for punitive or exemplary damages. Our ordinary course litigation includes purported class action lawsuits, which make allegations related to various aspects of our business. From time to time, we also receive requests for information from various state and federal regulatory authorities, some of which take the form of civil investigative demands or subpoenas. Some of these regulatory inquiries may result in the assessment of fines for violations of regulations or settlements with such authorities requiring a variety of remedies. We believe that no actions, other than those discussed below, depart from customary litigation or regulatory inquiries incidental to our business.

Our Restaurant Group companies are a defendant from time to time in various legal proceedings arising in the ordinary course of business, including claims relating to injury or wrongful death under “dram shop” laws that allow a person to sue us based on any injury caused by an intoxicated person who was wrongfully served alcoholic beverages at one of the restaurants; individual and purported class or collective action claims alleging violation of federal and state employment, franchise and other laws; and claims from guests or employees alleging illness, injury or other food quality, health or operational concerns. Our Restaurant Group companies are also subject to compliance with extensive government laws and regulations related to employment practices and policies and the manufacture, preparation, and sale of food and alcohol. We may also become subject to lawsuits and other proceedings, as well as card network fines and penalties, arising out of the actual or alleged theft of our customers' credit or debit card information.

We review lawsuits and other legal and regulatory matters (collectively “legal proceedings”) on an ongoing basis when making accrual and disclosure decisions. When assessing reasonably possible and probable outcomes, management bases its decision on its assessment of the ultimate outcome assuming all appeals have been exhausted. For legal proceedings in which it has been determined that a loss is both probable and reasonably estimable, a liability based on known facts and which represents our best estimate is recorded. As of December 31, 2018, we had $0.5 million accrued for legal proceedings. As of December 31, 2017, we had $0.2 million accrued for legal proceedings. Actual losses may materially differ from the amounts recorded and the ultimate outcome of our pending legal proceedings is generally not yet determinable. While some of these matters could be material to our operating results or cash flows for any particular period in the event of an unfavorable outcome, at present, we do not believe that the ultimate resolution of currently pending legal proceedings, either individually or in the aggregate, will have a material adverse effect on our financial condition, results of operations or cash flows.

O’Charley’s is the defendant in a lawsuit, Otis v. O’Charley’s, LLC, filed on July 13, 2016, in U.S. District Court, Central District of Illinois. The lawsuit purports to bring a national class action on behalf of all O’Charley’s servers and bartenders under the Fair Labor Standards Act and similar state laws. The complaint alleges that O'Charley's failed to pay plaintiffs the applicable minimum wage and overtime by requiring tipped employees to: (a) spend more than twenty percent of their time performing non-tipped duties, including dishwashing, food preparation, cleaning, maintenance, and other "back of the house" duties; and (b) perform “off the clock” work. Plaintiffs seek damages and declaratory relief. The named plaintiffs and members of the putative class are parties to employment agreements with O’Charley’s that provide, inter alia, for individual arbitration of potential claims and disputes. On October 25, 2016, the District Court entered an Order staying all proceedings in the Otis case pending the United States Supreme Court’s resolution of certain petitions for certiorari filed in several Circuit Courts of Appeals cases that address the issue of whether agreements between employers and employees to arbitrate disputes on an individual basis are enforceable under the Federal Arbitration Act. The Order provides that, if certiorari is granted in any of the Circuit Courts of Appeals cases, the stay of the Otis case will continue until the Supreme Court reaches a final decision on the merits in the cases. On January 13, 2017, the Supreme Court granted certiorari in three of the Circuit Courts of Appeals cases that address the enforceability of arbitration agreements. On May 21, 2018, the Supreme Court ruled on the issue, holding that class-action waivers in employment arbitration agreements are enforceable. The parties reached a settlement on January 2, 2019, whereby the plaintiffs agreed to a full and complete settlement and release of all claims that were asserted or that could have been asserted in the litigation. The settlement is not material to the Company's financial position, results of operations, or liquidity. The settlement was approved and the case was dismissed with prejudice by court order on February 15, 2019.

Operating Leases

We have operating leases for certain of our premises and equipment, primarily for real estate and equipment in our Restaurant Group segment.

Original terms of our operating lease agreements primarily range from one to thirty years. Most of our leases include one or more options to renew, with varying renewal terms that can extend the lease term. The exercise of lease renewal options is at our sole discretion.



Future minimum operating lease payments are as follows (in millions):
2019	$	62.0
2020	57.7
2021	51.3
2022	40.7
2023	34.1
Thereafter	133.2
Total future minimum operating lease payments	$	379.0

Rent expense incurred under operating leases during the years ended December 31, 2018, 2017 and 2016 was $61.5 million, $61.9 million, and $64.5 million, respectively. Rent expense in the year ended December 31, 2016 also included abandoned lease charges related to office closures of $6.9 million related to the termination of leases associated with the sale of the Max and Erma's restaurant concept. No abandoned lease charges were recorded in the years ended December 31, 2018 or 2017.

Unconditional Purchase Obligations

We have certain unconditional purchase obligations, primarily in our Restaurant Group segment. These purchase obligations are with various vendors and primarily related to food and beverage obligations with fixed commitments in regards to the time period of the contract and the quantities purchased with annual price adjustments that can fluctuate. We used both historical and projected volume and pricing as of December 31, 2018 to determine the amount of the obligations. Purchase obligations as of December 31, 2018 are as follows (in millions):



2019	$	194.4
2020	80.9
2021	46.7
2022	8.9
2023	3.4
Thereafter	7.3
Total purchase commitments	$	341.6

Discontinued Operations

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

OneDigital

On June 6, 2017, we completed the sale of OneDigital. As a result of the sale, the financial results of the businesses sold have been reclassified to discontinued operations for all periods presented in our Consolidated and Combined Statements of Operations. We retained no ownership in OneDigital and have no continuing involvement with OneDigital as of the date of the sale.

A reconciliation of the operations of OneDigital to the Consolidated and Combined Statement of Operations is shown below:



	Year Ended December 31,
	Year Ended December 31,
	2017			2016
	(in millions)
Revenues:
Other operating revenue	$	80.9		$	148.3
Total operating revenues	80.9			148.3
Operating expenses:
Personnel costs	56.9			94.8
Depreciation and amortization	8.8			18.1
Other operating expenses	11.3			27.1
Total operating expenses	77.0			140.0
Operating income	3.9			8.3
Other income (expense):
Interest expense	(2.9		)	(4.8		)
Realized gain	276.0			—
Total other income (expense)	273.1			(4.8		)
Earnings from continuing operations before income taxes	277.0			3.5
Income tax expense	129.3			1.5
Net earnings from discontinued operations	$	147.7		$	2.0

Cash flow from discontinued operations data:
Net cash provided by operations	$	17.3		$	27.6
Net cash used in investing activities	(27.3		)	(51.9		)

Other acquisitions/disposals of businesses, net of cash acquired, on the Consolidated and Combined Statements of Cash Flows for the years ended December 31, 2017 and 2016 includes $25.9 million and $48.3 million, respectively, related to acquisitions made by OneDigital. Borrowings on the Consolidated and Combined Statements of Cash Flows for the years ended December 31, 2017 and 2016 includes $23.0 million and $38.0 million, respectively, related to borrowings made by OneDigital. Debt service payments on the Consolidated and Combined Statements of Cash Flows for the years ended December 31, 2017 and 2016 includes $3.0 million and $7.5 million, respectively, related to debt principal payments made by OneDigital.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Employee Benefit Plans

Omnibus Plan

In 2017, we established the 2017 Omnibus Incentive Plan (the “Omnibus Plan”) authorizing the issuance of up to 3.9 million shares of common stock, subject to the terms of the Omnibus Plan. The 2017 Omnibus Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units and performance shares, performance units, other cash and stock-based awards and dividend equivalents. As of December 31, 2018, there were 575,655 shares of Cannae restricted stock outstanding (the "CNNE Awards") under the Omnibus Plan. Awards granted are approved by the Compensation Committee of the Board of Directors of the Company.

Restricted stock transactions under the Omnibus Plan in 2018 and 2017 are as follows:




	Shares		Weighted Average Grant Date Fair Value
Balance, December 31, 2016	—		$	—
Granted	287,059		18.45
Balance, December 31, 2017	287,059		$	18.45
Granted	384,281		17.98
Vested	(95,685	)	18.45
Balance, December 31, 2018	575,655		$	18.13

Compensation cost relating to share-based payments is recognized in the Consolidated and Combined Statements of Operations based on the grant-date fair value of each award. Using the fair value method of accounting, compensation cost is measured based on the fair value of the award at the grant date and recognized over the service period of 3 years. Fair value of restricted stock awards and units is based on the grant date value of the underlying stock derived from quoted market prices. Net earnings attributable to Cannae reflects stock-based compensation expense for the CNNE Awards of $2.0 million and $0.2 million for the years ended December 31, 2018 and 2017, respectively, which are included in personnel costs on the Consolidated and Combined Statements of Operations. There was no expense related to CNNE Awards in 2016. The total fair value of restricted stock awards granted in the years ended December 31, 2018 and 2017 was $6.9 million and $5.3 million, respectively.

As of December 31, 2018, the unrecognized compensation cost related to the CNNE Awards is $10.0 million and is expected to be recognized over a period of 1.79 years.

On May 16, 2018, we issued 991,906 shares of our common stock (unrestricted) under the Omnibus Plan for the stock portion of bonuses paid in conjunction with the Ceridian IPO. See Note A.

FNFV Restricted Stock Awards

Prior to the Split-Off, we historically participated in FNF's Omnibus Incentive Plan (the “ FNF Omnibus Plan”) which provided for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units and performance shares, performance units, other cash and stock-based awards and dividend equivalents in either of FNF's two former classes of common stock, FNF Group and FNFV Group. As of December 31, 2018 there were no shares of FNFV Group restricted stock outstanding (the "FNFV Awards") under the FNF Omnibus Plan.

Prior to the Split-Off, stock-based compensation related to FNFV Awards was allocated to us by FNF. Compensation cost relating to share-based payments is recognized in the Consolidated and Combined Financial Statements based on the fair value of each award. Using the fair value method of accounting, compensation cost is measured based on the fair value of the award at the grant date and recognized over the service period of 3 years. Fair value of restricted stock awards and units is based on the grant date value of the underlying stock derived from quoted market prices. Net earnings attributable to FNFV reflects the allocation of stock-based compensation expense for the FNFV Awards of $4.2 million and $4.7 million for the years ended December 31, 2017 and 2016, respectively which are included in personnel costs on the Consolidated and Combined Statements of Operations.

As of December 31, 2018, there was no remaining unrecognized compensation cost related to the FNFV Awards.

Concentration of Risk	12 Months Ended
Concentration of Risk	Dec. 31, 2018
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentration of Risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents and trade receivables. We place cash equivalents with high credit quality financial institutions and, by policy, limit the amount of credit exposure with any one financial institution. Concentrations of credit risk with respect to trade receivables are limited because a large number of geographically diverse customers make up our customer base, thus spreading the trade receivables credit risk. We control credit risk through monitoring procedures. Our restaurant group companies obtain a majority of their restaurant food products and supplies from five distributors. Although we believe alternative vendors could be found in a timely manner, any disruption of these services could potentially have an adverse impact on operating results.

Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Information

Summarized financial information concerning our reportable segments is shown in the following tables. There are several intercompany corporate related arrangements between our various businesses. The effects of these arrangements including intercompany notes and related interest and any other non-operational intercompany revenues and expenses have been eliminated in the segment presentations below.

LifeWorks Corporation Ltd. ("LifeWorks"), a former subsidiary of Ceridian, was distributed pro-rata to Ceridian shareholders contemporaneously with the Ceridian IPO and on July 27, 2018, LifeWorks was sold. The results of Ceridian for the years ended December 31, 2017 and 2016 have been adjusted to remove the effects of the discontinued operations of LifeWorks.

As of and for the year ended December 31, 2018:



	Restaurant Group			T-System			Ceridian			Corporate and Other		Ceridian Elimination			Total
	(in millions)
Restaurant revenues	$	1,117.8		$	—		$	—		$	—	$	—		$	1,117.8
Other revenues	—			57.9			746.4			29.7		(746.4		)	87.6
Revenues from external customers	1,117.8			57.9			746.4			29.7		(746.4		)	1,205.4
Interest and investment income, including realized gains and losses	(2.1		)	—			—			175.2		—			173.1
Total revenues and other income	1,115.7			57.9			746.4			204.9		(746.4		)	1,378.5
Depreciation and amortization	44.9			15.0			56.6			1.4		(56.6		)	61.3
Interest expense	(16.0		)	(4.3		)	(83.2		)	15.6		83.2			(4.7		)
(Loss) earnings from continuing operations, before income taxes and equity in earnings (loss) of unconsolidated affiliates	(96.8		)	(8.3		)	(30.4		)	123.7		30.4			18.6
Income tax expense (benefit)	0.6			(1.9		)	7.7			14.4		(7.7		)	13.1
(Loss) earnings from continuing operations, before equity in earnings (loss) of unconsolidated affiliates	(97.4		)	(6.4		)	(38.1		)	109.3		38.1			5.5
Equity in earnings of unconsolidated affiliates	0.1			—			—			4.3		(20.5		)	(16.1		)
(Loss) earnings from continuing operations	$	(97.3	)	$	(6.4	)	$	(38.1	)	$	113.6	$	17.6		$	(10.6	)
Assets	$	432.3		$	206.3		$	5,154.4		$	820.9	$	(5,154.4	)	$	1,459.5
Goodwill	76.4			88.4			1,927.4			—		(1,927.4		)	164.8

As of and for the year ended December 31, 2017:



	Restaurant Group			T-System			Ceridian			Corporate and Other			Ceridian Elimination			Total
	(in millions)
Restaurant revenues	$	1,129.0		$	—		$	—		$	—		$	—		$	1,129.0
Other revenues	—			12.9			670.8			27.6			(670.8		)	40.5
Revenues from external customers	1,129.0			12.9			670.8			27.6			(670.8		)	1,169.5
Interest and investment income, including realized gains and losses	—			—			—			10.2			—			10.2
Total revenues and other income	1,129.0			12.9			670.8			37.8			(670.8		)	1,179.7
Depreciation and amortization	43.6			3.1			53.8			2.6			(53.8		)	49.3
Interest expense	(6.6		)	—			(87.1		)	(0.4		)	87.1			(7.0		)
(Loss) earnings from continuing operations, before income taxes and equity in earnings (loss) of unconsolidated affiliates	(36.1		)	(0.9		)	(54.1		)	(38.2		)	54.1			(75.2		)
Income tax expense (benefit)	0.7			(2.4		)	(49.6		)	(14.9		)	49.6			(16.6		)
(Loss) earnings from continuing operations, before equity in earnings (loss) of unconsolidated affiliates	(36.8		)	1.5			(4.5		)	(23.3		)	4.5			(58.6		)
Equity in earnings of unconsolidated affiliates	0.1			—			—			1.4			1.9			3.4
(Loss) earnings from continuing operations	$	(36.7	)	$	1.5		$	(4.5	)	$	(21.9	)	$	6.4		$	(55.2	)
Assets	$	501.0		$	221.2		$	6,729.9		$	765.0		$	(6,729.9	)	$	1,487.2
Goodwill	103.1			99.6			1,961.0			—			(1,961.0		)	202.7

As of and for the year ended December 31, 2016:



	Restaurant Group			Ceridian			Corporate and Other			Ceridian Elimination			Total
	(in millions)
Restaurant revenues	$	1,157.6		$	—		$	—		$	—		$	1,157.6
Other revenues	—			623.4			20.8			(623.4		)	20.8
Revenues from external customers	1,157.6			623.4			20.8			(623.4		)	1,178.4
Interest and investment (loss) income, including realized gains and losses	(2.5		)	—			15.1			—			12.6
Total revenues and other income	1,155.1			623.4			35.9			(623.4		)	1,191.0
Depreciation and amortization	42.4			53.2			2.3			(53.2		)	44.7
Interest expense	(4.7		)	(87.4		)	(0.5		)	87.4			(5.2		)
Earnings (loss) from continuing operations, before income taxes and equity in losses of unconsolidated affiliates	0.8			(98.6		)	4.4			98.6			5.2
Income tax expense (benefit)	0.4			6.7			(10.8		)	(6.7		)	(10.4		)
Earnings (loss) from continuing operations, before equity in losses of unconsolidated affiliates	0.4			(105.3		)	15.2			105.3			15.6
Equity in losses of unconsolidated affiliates	—			—			(0.4		)	(29.1		)	(29.5		)
Earnings (loss) from continuing operations	$	0.4		$	(105.3	)	$	14.8		$	76.2		$	(13.9	)
Assets	$	497.2		$	6,426.5		$	976.1		$	(6,426.5	)	$	1,473.3
Goodwill	103.1			1,933.1			—			(1,933.1		)	103.1

The activities in our segments include the following:

•

Restaurant Group. This segment consists of the operations of ABRH and 99 Restaurants, in which we have 65.4% and 88.5% ownership interests, respectively. ABRH and its affiliates are the owners and operators of the O'Charley's, Village Inn and Bakers Square food service and restaurant concepts, as well as the Legendary Baking bakery operation. 99 Restaurants and its affiliates are the owners and operators of Ninety Nine Restaurants restaurant concept. This segment also included the results of operations of the Max & Erma's restaurant concept, which was sold on January 25, 2016.

•

Ceridian. This segment consists of our 23.5% ownership interest in Ceridian. Ceridian, through its operating subsidiary, is a global company that offers a broad range of services and software designed to help employers more effectively manage employment processes, such as payroll, payroll related tax filing, human resource information systems, employee self-service, time and labor management, employee assistance and work-life programs, and recruitment and applicant screening. Ceridian's cloud offering, Dayforce, is a cloud solution that meets HCM needs with one employee record and one user experience throughout the application. Dayforce enables organizations to process payroll, maintain human resources records, manage benefits enrollment, schedule staff, and find and hire personnel, while monitoring compliance throughout the employee life cycle. Our chief operating decision maker reviews the full financial results of Ceridian for purposes of assessing performance and allocating resources. Thus, we have included the full financial results of Ceridian in the table above. We account for our investment in Ceridian under the equity method of accounting and therefore its results of operations do not consolidate into ours. Accordingly, we have presented the elimination of Ceridian's results in the Ceridian Elimination section of the segment presentation above.

•

T-System. This segment consists of the operations of our 97%-owned subsidiary, T-System, acquired on October 16, 2017. T-System is a provider of clinical documentation and coding solutions to hospital-based and free-standing emergency departments and urgent care facilities. T-System organizes itself into two businesses. The Clinical Documentation business offers software solutions providing clinical staff with full workflow operations that drive documentation completeness and revenue optimization to more than 240 customers at more than 450 customer sites. Additionally, the patented T-Sheet is the industry standard for emergency department documentation, with more than 200 customers at more than 475 customer sites. The Coding Software & Outsourced Solutions business provides a full-service outsourced coding solution as well as a cloud-based software-as-a-service solution for self-service coding. These offerings help more than 75 customers at over 400 sites optimize their revenue cycle workflow and customer revenue reimbursement through improved coding accuracy and compliance and coder productivity compared to in-house coding.


•	Corporate and Other. This segment consists of our share in the operations of certain controlled portfolio companies and other equity investments as well as certain intercompany eliminations and taxes. Total assets for this segment as of December 31, 2016 also include the assets of One Digital. See Note N Discontinued Operations for further details.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions FNF As a former wholly-owned subsidiary of FNF, we have incurred payables related to historical intercompany transactions, taxes and cost allocations between us and FNF. FNF forgave these historical intercompany receivables due from us which amounted to $4.5 million and $9.5 million in the years ended December 31, 2017 and 2016, respectively. The Company is allocated certain corporate overhead and management services expenses from FNF based on the terms of the CSA and our proportionate share of the expense determined on actual usage and our best estimate of management's allocation of time. Total operating expenses allocated from FNF to us was $1.3 million, $9.5 million and $9.3 million in the years ended December 31, 2018, 2017 and 2016, respectively. On November 16, 2017, certain subsidiaries of FNF contributed an aggregate of $100.0 million to us (the "FNF Investment") in exchange for 5,706,134 shares of Cannae common stock. We have a $100.0 million Revolver Note with FNF. As of December 31, 2018 and 2017, there is no outstanding balance under the FNF Revolver or Revolver Note. On February 7, 2019, we drew the entire $100 million available and used the proceeds to fund, in part, the DNB Acquisition. Refer to Note K Notes Payable for further discussion. Sale of Max & Erma's On January 25, 2016, ABRH completed the sale of its Max & Erma's restaurant concept for $6.5 million pursuant to an APA. The buyer was a joint venture formed by Newport Global Opportunities Fund 1-A AIV LP and Glacier Restaurant Group ("GRG"), a restaurant owner and operator majority-owned by William P. Foley II, the Chairman of FNF's Boards of Directors. The transaction included the sale of 26 restaurants to GRG along with all Max & Erma's tradenames/trademarks and franchise operations, and other assets and liabilities. While the real estate leases for 25 leased restaurants were assigned to the buyer, ABRH was not released from liability under the leases and remains liable in the event the buyer fails to pay amounts due thereunder. As of December 31, 2018, there are 21 such leases still in force and the maximum amount of this guarantee is $18.2 million.

Recent Accounting Pronouncements	12 Months Ended
Recent Accounting Pronouncements	Dec. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU provides a new comprehensive revenue recognition model that requires companies to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. This update also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. This update permits the use of either the retrospective or cumulative effect transition method. ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations was issued by FASB in March 2016 to clarify the principal versus agent considerations within ASU 2014-09. ASU 2016-10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing was issued by the FASB in April 2016 to clarify how to determine whether goods and services are separately identifiable and thus accounted for as separate performance obligations. ASU 2016-12 Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients was issued by the FASB in May 2016 to clarify certain terms from the aforementioned updates and to add practical expedients for contracts at various stages of completion. ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, was issued by the FASB in December 2016 which includes thirteen technical corrections and improvements affecting narrow aspects of the guidance issued in ASU 2014-09. We adopted Accounting Standards Codification ("ASC") Topic 606 Revenue from Contracts with Customers ("ASC Topic 606") on January 1, 2018 using a modified retrospective approach with a cumulative-effect adjustment to the opening balance of retained earnings. We applied the standard to all contracts existing at the date of initial application. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. The adoption of ASC Topic 606 did not have a significant impact on the timing or amount of recognition of revenue for our primary sources of revenue. As a result of the adoption of ASC Topic 606, we recorded a cumulative-effect adjustment of $1.9 million which increased Retained earnings. As a result of errors identified in our adjustment for the cumulative effect of the adoption of ASC Topic 606 as of the date of adoption (January 1, 2018), as further discussed in Note A, the cumulative effect adjustment decreased by $2.4 million from the $4.3 million (net of tax), as reported, to $1.9 million (net of tax), as corrected. See Note U for further discussion of our revenue. In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842). The amendments in this ASU introduce broad changes to the accounting and reporting for leases by lessees. The main provisions of the new standard include: clarifications to the definitions of a lease, components of leases, and criteria for determining lease classification; requiring virtually all leased assets, including operating leases and related liabilities, to be reflected on the lessee's balance sheet; and expanding and adding to the required disclosures for lessees. This update is effective for annual and interim periods beginning after December 15, 2018, including interim periods within those fiscal years. Early application of the standard is permitted. The ASU allows for a modified retrospective approach to transitioning which allows for the use of practical expedients to effectively account for leases commenced prior to the effective date in accordance with previous GAAP, except that lessees were required to recognize a right-of-use asset and a lease liability for all operating leases at each reporting date based on the present value of the remaining minimum rental payments that were tracked and disclosed under previous GAAP. In July 2018, the FASB issued ASU 2018-11 Leases (Topic 842): Targeted Improvements which allows entities the option to adopt this standard using a modified retrospective approach with a cumulative-effect adjustment to opening equity and only include required disclosures for prior periods. We have identified a vendor with software suited to track and account for leases under the new standard and have transitioned our lease accounting within the software. We anticipate this standard will have a material impact on our consolidated balance sheets. However, while we are still completing our analysis, we do not anticipate that adoption of this ASU will have a material impact on our consolidated statements of operations. The most significant impact of the adoption of this standard relates to our accounting for leased real estate for our Restaurant Group. We plan to adopt this standard using a modified retrospective approach in the first quarter of 2019 and to use the package of practical expedients available upon adoption. In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments. The amendments in this ASU introduce broad changes to accounting for credit impairment of financial instruments. The primary updates include the introduction of a new current expected credit loss ("CECL") model that is based on expected rather than incurred losses and amendments to the accounting for impairment of debt securities available for sale. This update is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the effect this new guidance will have on our financial statements and related disclosures and have not yet concluded on its effects. We do not expect to early adopt the standard. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The guidance simplifies the measurement of goodwill impairment by removing step 2 of the goodwill impairment test, which requires the determination of the fair value of individual assets and liabilities of a reporting unit. The new guidance requires goodwill impairment to be measured as the amount by which a reporting unit’s carrying value exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The amendments should be applied on a prospective basis. The new standard is effective for fiscal years beginning after December 15, 2019 with early adoption permitted for interim or annual goodwill impairment tests performed after January 1, 2017. We adopted this new guidance in the year ended December 31, 2018 and assessed our goodwill for impairment under the new standard. See Note A. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The guidance allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Reform Act. The new standard is effective for fiscal years beginning after December 15, 2018 and interim periods in those fiscal years with early adoption permitted. We adopted this standard on April 1, 2018 resulting in a reclassification of $16.1 million of deferred taxes from Accumulated other comprehensive loss to Retained earnings. Our policy is to release income tax effects from accumulated other comprehensive income at such time as the earnings or loss of the related activity are recognized in earnings (e.g., upon sale of an investment security).

Supplementary Cash Flow Information

12 Months Ended

Dec. 31, 2018

Supplemental Cash Flow Elements [Abstract]

Supplementary Cash Flow Information

The following supplemental cash flow information is provided with respect to interest and tax payments, as well as certain non-cash investing and financing activities.



	Year Ended December 31,
	2018			2017		2016
	(In millions)
Cash paid during the year:
Interest	$	3.3		$	8.7	$	8.7
Income taxes	0.2			117.7		4.0

Non-cash investing activities:
Acquisition of Ceridian HCM common shares through non-cash private placement investment - see Note A	$	(33.4	)	—		—
Non-cash distribution of LifeWorks from Ceridian - see Note A	32.5			—		—
Non-cash financing activities:
Liabilities and noncontrolling interests assumed in connection with acquisitions (1):
Fair value of net assets acquired	$	—		$	252.5	$	92.0
Less: Total cash purchase price	—			222.7		75.8
Liabilities and noncontrolling interests assumed	$	—		$	29.8	$	16.2

Debt extinguished through the sale of OneDigital	$	—		$	151.1	$	—

_____________________________________

(1) See Note B for further discussion of assets and liabilities acquired in business combinations in the years ended December 31, 2017 and 2016.

Revenue Recognition

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenue Recognition

On January 1, 2018, we adopted ASC Topic 606 by applying the modified retrospective method. Results for reporting periods beginning after January 1, 2018 are presented under ASC Topic 606, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. The adoption of ASC Topic 606 did not have a significant impact on the timing or amount of recognition of revenue for our primary sources of revenue. Differences between our historical revenue recognition and revenue which would have been recorded had we retrospectively restated prior periods to conform with ASC Topic 606 are not considered material. We recorded a cumulative effect adjustment to opening equity as of January 1, 2018 of $1.9 million as a result of adoption of ASC Topic 606. See Note A for discussion of immaterial corrections to our previously reported cumulative effect adjustment for ASC Topic 606.

Disaggregation of Revenue

Our revenue consists of:



		Year ended December 31,
		2018
Revenue Stream	Segment	Total Revenue
Restaurant revenue:		(in millions)
Restaurant sales	Restaurant Group	$	1,023.0
Bakery sales	Restaurant Group	88.8
Franchise and other	Restaurant Group	6.0
Total restaurant revenue		1,117.8
Other operating revenue:
T-System, point-in-time	T-System	24.5
T-System, over time	T-System	33.4
Real estate and resort	Corporate and other	23.2
Other	Corporate and other	6.5
Total other operating revenue		87.6
Total operating revenues		1,205.4

Restaurant revenue consists of restaurant sales, bakery operations, and, to a lesser extent, franchise revenue and other revenue. Restaurant sales include food and beverage sales and gift card breakage, are net of applicable state and local sales taxes and discounts, and are recognized at a point in time as services are performed and goods are provided. Revenue from bakery operations is recognized at a point in time in the period during which the products are shipped and control transfers to the customer. Franchise revenue and other revenue consist of development fees and royalties on sales by franchised units. Initial franchise fees are recognized as income upon commencement of the franchise operation and completion of all material services and conditions by the Company. Royalties are calculated as a percentage of the franchisee sales and recognized in the period in which the sales are generated. Revenue resulting from the sale of gift cards is recognized in the period in which the gift card is redeemed and is recorded as deferred revenue until recognized.

T-System recognizes revenue when a customer obtains control of the promised goods or services. The amount of revenue recognized is determined by the consideration that T-System expects to be entitled to in exchange for the goods and services. T-System's contracts with customers typically do not include variable consideration such as right of return or refund or other form of incentives or considerations payable to customers.

T-System offers a software as a service solution with full-service coding ("RevCycle+") available, through contracts with customers to either provide access to its proprietary coding software platform or provide medical chart coding services. Billing for both services occurs monthly as services are provided. Billing for medical chart coding services is based on a fixed monthly fee. Revenue for RevCycle+ is recognized ratably over the term of the contract as services are consumed by the customer. Revenue for implementation and upfront training services provided to the customer, if any, are billed separately and recognized at a point in time upon completion of such services as T-System's performance obligation is considered complete.

T-System sells an electronic version of the medical documentation system (“EV”), provided in the form of a non-exclusive license to use the software at the sites under the agreement when the software is made available to the customer. EV contracts with customers can include various combinations of products and services which are generally capable of being distinct and accounted for as separate performance obligations such as software licenses, implementation services, third party interface licenses or subscriptions, hardware, and maintenance (software updates and technical support services). T-System sells software licenses through recurring fixed-term or subscription fee arrangements and one-time perpetual license arrangements (perpetual licenses), and as software as a service solution (cloud solutions). EV term license and perpetual license contracts include performance obligations that are both satisfied at a point in time and over a period of time as goods and services are transferred. T-System also sells legacy medical documentation templates ("T-Sheets") to emergency care providers to be used for documentation of patient care. T-Sheets includes various optional recurring fixed-term or subscription licenses which are recognized over time after access to the template has been delivered to the customer. EV software as a service contracts typically include one stand ready performance obligation to provide subscription services which are satisfied over time. Judgment is required to determine whether the software license is considered distinct and accounted for separately, or not distinct and accounted for together with the cloud service and recognized over time. Judgment is required to determine the standalone selling price ("SSP") for each distinct performance obligation. In instances where SSP is not directly observable, such as when we do not sell the product or service separately, we determine the SSP using information that may include our pricing strategy and other observable inputs.

T-System typically bills its customers on a monthly or other frequent periodic basis in accordance with the underlying contracts with its customers. We have determined our contracts generally do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to receive financing from our customers. Revenue is recognized net of any taxes collected from customers.

Other operating revenue consists of income generated by our resort operations which includes sales of real estate, lodging rentals, food and beverage sales, and other income from various resort services offered. Revenue is recognized upon closing of the sale of real estate or once goods and services have been provided and billed to the customer.

Contract Balances

The following table provides information about receivables and deferred revenue:



	December 31,
	2018
	(In millions)
Trade receivables, billed (1)	$	40.3
Unbilled accounts receivable, current (1)	9.5
Unbilled accounts receivable, long term (2)	10.6
Deferred revenue (contract liabilities)	31.7

(1) Included in Trade receivables on the Consolidated and Combined Balance Sheets

(2) Included in Other noncurrent assets on the Consolidated and Combined Balance Sheets

Unbilled accounts receivable is recorded primarily for our T-System EV and RevCycle+ revenue related to software, licenses, license implementation (including upfront training) and other performance obligations which are recognized in revenue at a point-in-time upon satisfaction of performance obligations, but collected in cash ratably over the term of the underlying contract.

Deferred revenue is recorded primarily for restaurant gift card sales and certain T-System revenue. The unrecognized portion of such revenue is recorded as Deferred revenue in the Consolidated and Combined Balance Sheets. Revenue of $20.7 million was recognized in the year ended December 31, 2018 that was included in Deferred revenue at the beginning of the period.

There was no impairment related to contract balances.

Transaction Price Allocated to the Remaining Performance Obligations

As of December 31, 2018, $14.1 million of revenue is estimated to be recognized in the future from the Company’s remaining unfulfilled performance obligations, which are primarily comprised of recurring, long-term contracts of one to five years associated with T-System's RevCycle+ and EV contracts. This excludes the amount of anticipated recurring renewals not yet contractually obligated. The Company expects to recognize approximately 55% of our remaining performance obligations over the next 12 months, approximately another 28% over the next 13 to 24 months, and the balance thereafter.

Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying Consolidated and Combined Financial Statements are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and include the historical accounts as well as wholly-owned and majority-owned subsidiaries of the Company. Prior to the Split-Off, these financial statements represent a combination of the historical financial information of the operations attributed to FNFV, of which Cannae is comprised. The Company is allocated certain corporate overhead and management services expenses from FNF based on the terms of the CSA and our proportionate share of the expense determined on actual usage and our best estimate of management's allocation of time. Both FNF and Cannae believe such allocations are reasonable; however, they may not be indicative of the actual results of operations or cash flows of the Company had the Company been operating as an independent, publicly traded company for the periods presented or the amounts that will be incurred by the Company in the future.
Principles of Combination	All intercompany profits, transactions and balances have been eliminated. Our investments in non-majority-owned partnerships and affiliates are accounted for using the equity method until such time that they may become wholly or majority-owned. Earnings attributable to noncontrolling interests are recorded on the Consolidated and Combined Statements of Operations relating to majority-owned subsidiaries with the appropriate noncontrolling interest that represents the portion of equity not related to our ownership interest recorded on the Consolidated and Combined Balance Sheets in each period.
Management Estimates	Management Estimates The preparation of these Consolidated and Combined Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated and Combined Financial Statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by management include the carrying amount and depreciation of property and equipment (Note E), the valuation of acquired intangible assets (Note B and Note H), fair value measurements (Note C), and accounting for income taxes (Note L). Actual results could differ from estimates
Cash and Cash Equivalents	Cash and Cash Equivalents Highly liquid instruments, including money market instruments, purchased as part of cash management with original maturities of three months or less, and certain amounts in transit from credit and debit card processors, are considered cash equivalents. The carrying amounts reported in the Consolidated and Combined Balance Sheets for these instruments approximate their fair value.
Investments	Investments Fixed maturity securities are purchased based on factors including rate of return, maturity, credit risk, duration, and tax considerations. Fixed maturity securities, which may be sold prior to maturity, are carried at fair value and are classified as available for sale as of the balance sheet dates. Fair values for fixed maturity securities are principally a function of current market conditions and are valued based on quoted prices in markets that are not active or model inputs that are unobservable. See Note C. Discount or premium is recorded for the difference between the purchase price and the principal amount. The discount or premium is amortized or accrued using the interest method and is recorded as an adjustment to interest and investment income. The interest method results in the recognition of a constant rate of return on the investment equal to the prevailing rate at the time of purchase or at the time of subsequent adjustments of book value. Equity securities held are carried at fair value as of the balance sheet dates. Our equity securities are Level 1 financial assets and fair values are based on quoted prices in active markets. Investments in unconsolidated affiliates are recorded using the equity method of accounting. Realized gains and losses on the sale of investments are determined on the basis of the cost of the specific investments sold and are credited or charged to income on a trade date basis. Unrealized gains or losses on fixed maturity securities which are classified as available for sale, net of applicable deferred income tax expenses (benefits), are excluded from earnings and credited or charged directly to a separate component of equity. If any unrealized losses on available for sale securities are determined to be other-than-temporary, such unrealized losses are recognized as realized losses. Unrealized losses are considered other-than-temporary if factors exist that cause us to believe that the value will not increase to a level sufficient to recover our cost basis. Some factors considered in evaluating whether or not a decline in fair value is other-than-temporary include: (i) our need and intent to sell the investment prior to a period of time sufficient to allow for a recovery in value; (ii) the duration and extent to which the fair value has been less than cost; and (iii) the financial condition and prospects of the issuer. Such reviews are inherently uncertain and the value of the investment may not fully recover or may decline in future periods resulting in a realized loss.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair values of financial instruments presented in the Consolidated and Combined Financial Statements are estimates of the fair values at a specific point in time using available market information and appropriate valuation methodologies. These estimates are subjective in nature and involve uncertainties and significant judgment in the interpretation of current market data. We do not necessarily intend to dispose of or liquidate such instruments prior to maturity. See Note C Fair Value Measurements for further details.
Trade Receivables	Trade Receivables Restaurant Group. Trade receivables on the Consolidated and Combined Balance Sheets for the Restaurant Group consists primarily of billings to third-party customers of ABRH's bakery business, business to business gift card sales, insurance-related reimbursement, rebates, tenant improvement allowances, and billings to franchisees for royalties, initial and renewal fees, equipment sales and rent. Trade receivables are recorded net of an allowance for doubtful accounts which is our best estimate of the amount of probable credit losses related to existing receivables. T-System. Trade receivables on the Consolidated and Combined Balance Sheets for T-System consists primarily of billings to third-party customers that are carried at the invoiced amount and unbilled receivables less an estimate for doubtful accounts. The carrying values reported in the Consolidated and Combined Balance Sheets for trade receivables approximate their fair value.
Inventory	Inventory Inventory primarily consists of raw materials, finished pies, food, beverages packaging and supplies in our Restaurant Group segment and is stated at the lower of cost or net realizable value. Cost is determined using the first in, first out method for restaurant inventory and standard cost that approximates actual cost on a first in, first out basis for the bakery operations.
Other long term investments and non-current assets	Other long term investments and non-current assets Other long-term investments consist of land held for investment purposes, which are carried at historical cost. Other non-current assets include notes receivable from third-parties and other miscellaneous non-current assets.
Goodwill	Goodwill
Other Intangible Assets	Other Intangible Assets We have other intangible assets, not including goodwill, which consist primarily of customer relationships and contracts, trademarks and tradenames which are generally recorded in connection with acquisitions at their fair value, franchise rights, the fair value of purchased software and capitalized software development costs. Intangible assets with estimable lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In general, customer relationships are amortized over their estimated useful lives using an accelerated method which takes into consideration expected customer attrition rates. Contractual relationships are generally amortized over their respective contractual lives. Useful lives of computer software range from 3 to 10 years. Trademarks and tradenames are generally considered intangible assets with indefinite lives and are reviewed for impairment at least annually. Capitalized software development costs and purchased software are recorded at cost and amortized using the straight-line method over their estimated useful life.
Property and Equipment, net	Property and Equipment, net Property and equipment, net are recorded at cost, less accumulated depreciation. Depreciation is computed primarily using the straight-line method based on the estimated useful lives of the related assets: thirty to forty years for buildings and three to twenty-five years for furniture, fixtures and equipment. Leasehold improvements are amortized on a straight-line basis over the lesser of the term of the applicable lease or the estimated useful lives of such assets. Property and equipment are reviewed for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable. In our Restaurant Group, all direct external costs associated with obtaining the land, building and equipment for each new restaurant, as well as construction period interest are capitalized. Direct external costs associated with obtaining the dining room and kitchen equipment, signage and other assets and equipment are also capitalized. In addition, for each new restaurant and re-branded restaurant, a portion of the internal direct costs of its real estate and construction department are also capitalized.
Insurance Reserves	Insurance Reserves Our restaurant group companies are currently self-insured for a portion of its workers' compensation, general liability, and liquor liability losses (collectively, casualty losses) as well as certain other insurable risks. To mitigate the cost of its exposures for certain property and casualty losses, we make annual decisions to either retain the risks of loss up to a certain maximum per occurrence, aggregate loss limits negotiated with its insurance carriers, or fully insure those risks. Our restaurant group companies are also self-insured for healthcare claims for eligible participating employees subject to certain deductibles and limitations. We have accounted for such retained liabilities for casualty losses and healthcare claims, including reported and incurred but not reported claims, based on information provided by third-party actuaries.
Income Taxes	Income Taxes We recognize deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of our assets and liabilities and expected benefits of utilizing net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The impact of changes in tax rates and laws on deferred taxes, if any, is applied to the years during which temporary differences are expected to be settled and reflected in the financial statements in the period enacted. We recognize the benefits of uncertain tax positions in the financial statements only after determining a more likely than not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. When facts and circumstances change, we reassess these probabilities and record any changes in the financial statements as appropriate. Uncertain tax positions are accounted for by determining the minimum recognition threshold that a tax position is required to meet before being recognized in the financial statements. This determination requires the use of judgment in assessing the timing and amounts of deductible and taxable items. Tax positions that meet the more likely than not recognition threshold are recognized and measured as the largest amount of tax benefit that is more than 50% likely to be realized upon settlement with a taxing authority that has full knowledge of all relevant information. The Company recognizes interest and penalties accrued related to unrecognized tax benefits as components of income tax expense.
Parent Investment in FNFV	Parent Investment in FNFV Parent investment in FNFV on the Consolidated and Combined Statement of Equity represents FNF's historical investment in the Company, the Company's accumulated net earnings after taxes prior to the Split-Off, and the net effect of transactions with and allocations from FNF prior to the Split-Off. In conjunction with the Split-Off, Parent investment in FNFV was reclassified to Additional paid-in capital.
Advertising Costs	Advertising Costs The Company expenses advertising and marketing costs as incurred, except for certain advertising production costs that are initially capitalized and subsequently expensed the first time the advertising takes place. During the years ended December 31, 2018, 2017, and 2016, the Company incurred $35.6 million, $35.6 million, and $36.1 million of advertising and marketing costs, respectively, related to advertising at ABRH, T-System and in our real estate operations. These costs are included in Other operating expenses on the Consolidated and Combined Statements of Operations.
Comprehensive Earnings (Loss)	Comprehensive Earnings (Loss) We report comprehensive earnings (loss) in accordance with GAAP on the Consolidated and Combined Statements of Comprehensive Earnings (Loss). Total comprehensive earnings (loss) are defined as all changes in shareholders' equity during a period, other than those resulting from investments by and distributions to shareholders. While total comprehensive earnings (loss) is the activity in a period and is largely driven by net earnings in that period, accumulated other comprehensive earnings or loss represents the cumulative balance of other comprehensive earnings, net of tax, as of the balance sheet date. Amounts reclassified to net earnings relate to the realized gains (losses) on our investments and other financial instruments, excluding investments in unconsolidated affiliates, and are included in Realized gains and losses, net on the Consolidated and Combined Statements of Operations.
Stock-Based Compensation Plans	Stock-Based Compensation Plans Stock-based compensation expense includes restricted stock awards granted to certain members of management in Cannae common stock, as well as in historical FNFV Group tracking stock. We account for stock-based compensation plans using the fair value method. Under the fair value method of accounting, compensation cost is measured based on the fair value of the award at the grant date, using quoted market prices of the underlying stock, and recognized over the service period.
Earnings Per Share	Earnings Per Share Basic earnings per share, as presented on the Consolidated and Combined Statement of Operations, is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding during the period.
Recent Accounting Pronouncements	Recent Developments Dun & Bradstreet On August 8, 2018, we entered into an agreement to partner with an investment consortium (the “Consortium”) including CC Capital Partners LLC and Thomas H. Lee Partners along with other investors to acquire The Dun & Bradstreet Corporation, a Delaware corporation ("Dun & Bradstreet") (the "DNB Acquisition"). Contemporaneously, Dun & Bradstreet entered into an Agreement and Plan of Merger (the "Merger Agreement") by and between Dun & Bradstreet, Star Parent, L.P. ("Star"), a Delaware limited partnership, and Star Merger Sub, Inc. ("Merger Sub"), a Delaware corporation and a wholly owned subsidiary of Star, and upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Dun & Bradstreet (the "Merger"), with Dun & Bradstreet continuing as the surviving company in the Merger. Under the terms of the Merger, Dun & Bradstreet shareholders received $145.00 in cash for each share of common stock they owned at closing. On February 8, 2019, the DNB Acquisition closed and was financed through a combination of $2.1 billion of common equity financing provided by the Consortium, $1.1 billion of preferred equity from preferred equity sources and $4.0 billion of debt financing from various lenders. Of our previously disclosed $900.0 million commitment to purchase common equity of Star and Dun & Bradstreet, we retained and funded a $505.6 million investment (the "DNB Investment"), representing 24.5% of the outstanding common equity, and syndicated the remainder to other investors. We funded the DNB Investment through a combination of cash on hand and borrowings on existing credit facilities. We expect to account for the DNB Investment as an equity method investment which will result in our initial investment being recorded as an Investment in unconsolidated affiliate on our balance sheet and our portion (24.5%) of Dun & Bradstreet's periodic earnings or losses to be included in Equity in earnings (losses) of unconsolidated affiliates, outside of operating income or loss, on our statement of operations. Dun & Bradstreet is a global leader in commercial data and analytics and provides various services to help companies improve their operational performance. Ceridian On April 26, 2018, Ceridian's previously announced registration statement on Form S-1 was declared effective by the SEC and Ceridian priced its initial public offering of 21,000,000 shares of common stock at a price of $22.00 per share (the "Ceridian IPO"). In addition, the underwriters of the Ceridian IPO were granted and exercised a 30-day option to purchase up to an additional 3,150,000 shares at the initial public offering price, less underwriting discounts and commissions. The New York Stock Exchange ("NYSE") and the Toronto Stock Exchange ("TSX") have approved the listing of Ceridian's shares. Ceridian’s shares trade on the NYSE and TSX under the ticker symbol “CDAY.” In accordance with the terms of our management agreement with Ceridian, the agreement was terminated upon closing of the Ceridian IPO. The termination resulted in a termination fee of $5.6 million which was paid to us on May 1, 2018 and is included in Other operating revenue on the Consolidated and Combined Statement of Operations for the year ended December 31, 2018. Subsequent to the Ceridian IPO, and participation in a concurrent private placement investment in which we acquired 1,521,030 shares of CDAY representing an investment of $33.4 million from funds previously invested by us and held at Ceridian, we owned a total of 37,135,921 shares of CDAY. We recorded a gain of $63.2 million related to our change in ownership of Ceridian which is included in Realized gains, net on the Consolidated and Combined Statement of Operations for the year ended December 31, 2018. The recorded gain is net of $21.1 million of losses (exclusive of $4.4 million of income tax benefit) related to reclassification adjustments from Other comprehensive income. On May 7, 2018, the Compensation Committee of the Board of Directors approved a success bonus of up to $67.1 million resulting from the successful Ceridian IPO. The success bonus was calculated based on 10% of the value of our investment in Ceridian in excess of our basis in Ceridian prior to the Ceridian IPO. The success bonus was paid to certain members of the Board of Directors and management who contributed to acquiring and growing Ceridian over Cannae’s and its predecessor’s ten year ownership of Ceridian, and was paid in a combination of cash and stock. On May 16, 2018, we issued 991,906 shares of our common stock for the stock portion of the bonuses. The remaining $46.9 million was paid in cash during the year ended December 31, 2018. The expense resulting from the success bonus is included in Personnel expense on the Consolidated and Combined Statement of Operations for the year ended December 31, 2018. LifeWorks Corporation Ltd. ("LifeWorks"), a former minority-owned subsidiary of Ceridian, was distributed pro-rata to Ceridian shareholders contemporaneously with the Ceridian IPO. On July 27, 2018, LifeWorks was sold to Morneau Shepell, Inc. for $325.0 million. Cannae's cash proceeds for its equity interest in LifeWorks were $56.2 million. We recorded a gain of $24.0 million on the sale which is included in Realized gains (losses), net on the Consolidated and Combined Statements of Operations for the year ended December 31, 2018. On November 16, 2018, we completed the sale of 4,396,694 shares of common stock of Ceridian as part of an underwritten secondary public offering by certain stockholders of Ceridian at a public offering price of $36.00 per share. In connection with the sale, the Company received $34.695 per share (after the applicable underwriter discount) for aggregate proceeds of $152.5 million. We recorded a gain of $92.6 million on the sale which is included in Realized gains (losses), net on the Consolidated and Combined Statements of Operations for the year ended December 31, 2018. Subsequent to the sale, we own 23.5% of the outstanding common stock of Ceridian. Restaurant Group On November 6, 2018, we entered into various definitive agreements with Fidelity Newport Holdings, LLC ("FNH", a subsidiary of the Company and the direct parent of ABRH), ABRH and 99 Restaurants (together with its direct and indirect subsidiaries, the "99 Companies") pursuant to which the following occurred (collectively, the "ABRH-99 Restructuring"): (i) ABRH and certain of its direct and indirect subsidiaries transferred to the applicable 99 Companies those assets principally associated with the 99 Restaurants brand that were not already owned by the 99 Companies; (ii) the existing intercompany credit facility (with an outstanding balance of approximately $133.0 million in principal, plus accrued but unpaid interest and fees) under which we were the sole lender to ABRH, for the benefit of ABRH and its subsidiaries, including the 99 Companies (the “Intercompany Credit Facility”), was modified so that 99 Holdings became the direct borrower (and ABRH and all of its direct and indirect subsidiaries, other than the 99 Companies, were released from their obligations thereunder); (iii) $100.0 million of the outstanding balance due to Cannae under the Intercompany Credit Facility was exchanged for 66.7% of the direct equity interest in 99 Holdings (with ABRH being the direct holder of the remaining 33.3% of the equity interests in 99 Holdings); (iv) FNH paid a facilitation fee to us in the form of 18,023,407 Class A units of FNH and (v) ABRH agreed to continue to provide support services to the 99 Companies. As a result of the ABRH-99 Restructuring, Cannae (x) owns 65.4% of FNH directly and (y) 88.5% of 99 Holdings beneficially (through a combination of its directly held equity interests in 99 Holdings and the equity interests it holds in FNH). On December 21, 2018, a wholly-owned subsidiary of 99 Restaurants entered into a credit agreement (the "99 Restaurants Credit Facility") with various banks. Proceeds of $36.2 million were received at closing and primarily used to repay the remaining balance outstanding under the Intercompany Credit Facility that formerly eliminated in consolidation. See Note K for further details of the material terms of the agreements. During the year ended December 31, 2018, we entered into a plan to sell certain real estate assets of ABRH including its corporate offices located in Nashville, Tennessee and Denver, Colorado. In conjunction with the plan of sale, we reclassified $9.3 million of assets held for sale from Property and equipment, net to Prepaid expenses and other current assets on the Consolidated and Combined Balance Sheet as of December 31, 2018. Other Developments On November 7, 2018, our wholly-owned subsidiary entered into a Margin Loan Agreement (the "Loan Agreement"), and certain other related agreements, with various lenders pursuant to which we may borrow up to $300.0 million (the "Margin Facility") in term loans at an interest rate of the three-month LIBOR plus an applicable margin. See Note K for further discussion. On August 10, 2018, our Board of Directors adopted a resolution increasing the size of the Company’s Board of Directors to eight, and elected Erika Meinhardt to serve on our Board of Directors. Ms. Meinhardt will serve in Class II of our Board of Directors, and her term will expire at the annual meeting of our shareholders to be held in 2019. Ms. Meinhardt has not been appointed to any committee of our Board. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU provides a new comprehensive revenue recognition model that requires companies to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. This update also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. This update permits the use of either the retrospective or cumulative effect transition method. ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations was issued by FASB in March 2016 to clarify the principal versus agent considerations within ASU 2014-09. ASU 2016-10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing was issued by the FASB in April 2016 to clarify how to determine whether goods and services are separately identifiable and thus accounted for as separate performance obligations. ASU 2016-12 Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients was issued by the FASB in May 2016 to clarify certain terms from the aforementioned updates and to add practical expedients for contracts at various stages of completion. ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, was issued by the FASB in December 2016 which includes thirteen technical corrections and improvements affecting narrow aspects of the guidance issued in ASU 2014-09. We adopted Accounting Standards Codification ("ASC") Topic 606 Revenue from Contracts with Customers ("ASC Topic 606") on January 1, 2018 using a modified retrospective approach with a cumulative-effect adjustment to the opening balance of retained earnings. We applied the standard to all contracts existing at the date of initial application. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. The adoption of ASC Topic 606 did not have a significant impact on the timing or amount of recognition of revenue for our primary sources of revenue. As a result of the adoption of ASC Topic 606, we recorded a cumulative-effect adjustment of $1.9 million which increased Retained earnings. As a result of errors identified in our adjustment for the cumulative effect of the adoption of ASC Topic 606 as of the date of adoption (January 1, 2018), as further discussed in Note A, the cumulative effect adjustment decreased by $2.4 million from the $4.3 million (net of tax), as reported, to $1.9 million (net of tax), as corrected. See Note U for further discussion of our revenue. In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842). The amendments in this ASU introduce broad changes to the accounting and reporting for leases by lessees. The main provisions of the new standard include: clarifications to the definitions of a lease, components of leases, and criteria for determining lease classification; requiring virtually all leased assets, including operating leases and related liabilities, to be reflected on the lessee's balance sheet; and expanding and adding to the required disclosures for lessees. This update is effective for annual and interim periods beginning after December 15, 2018, including interim periods within those fiscal years. Early application of the standard is permitted. The ASU allows for a modified retrospective approach to transitioning which allows for the use of practical expedients to effectively account for leases commenced prior to the effective date in accordance with previous GAAP, except that lessees were required to recognize a right-of-use asset and a lease liability for all operating leases at each reporting date based on the present value of the remaining minimum rental payments that were tracked and disclosed under previous GAAP. In July 2018, the FASB issued ASU 2018-11 Leases (Topic 842): Targeted Improvements which allows entities the option to adopt this standard using a modified retrospective approach with a cumulative-effect adjustment to opening equity and only include required disclosures for prior periods. We have identified a vendor with software suited to track and account for leases under the new standard and have transitioned our lease accounting within the software. We anticipate this standard will have a material impact on our consolidated balance sheets. However, while we are still completing our analysis, we do not anticipate that adoption of this ASU will have a material impact on our consolidated statements of operations. The most significant impact of the adoption of this standard relates to our accounting for leased real estate for our Restaurant Group. We plan to adopt this standard using a modified retrospective approach in the first quarter of 2019 and to use the package of practical expedients available upon adoption. In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments. The amendments in this ASU introduce broad changes to accounting for credit impairment of financial instruments. The primary updates include the introduction of a new current expected credit loss ("CECL") model that is based on expected rather than incurred losses and amendments to the accounting for impairment of debt securities available for sale. This update is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the effect this new guidance will have on our financial statements and related disclosures and have not yet concluded on its effects. We do not expect to early adopt the standard. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The guidance simplifies the measurement of goodwill impairment by removing step 2 of the goodwill impairment test, which requires the determination of the fair value of individual assets and liabilities of a reporting unit. The new guidance requires goodwill impairment to be measured as the amount by which a reporting unit’s carrying value exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The amendments should be applied on a prospective basis. The new standard is effective for fiscal years beginning after December 15, 2019 with early adoption permitted for interim or annual goodwill impairment tests performed after January 1, 2017. We adopted this new guidance in the year ended December 31, 2018 and assessed our goodwill for impairment under the new standard. See Note A. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The guidance allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Reform Act. The new standard is effective for fiscal years beginning after December 15, 2018 and interim periods in those fiscal years with early adoption permitted. We adopted this standard on April 1, 2018 resulting in a reclassification of $16.1 million of deferred taxes from Accumulated other comprehensive loss to Retained earnings. Our policy is to release income tax effects from accumulated other comprehensive income at such time as the earnings or loss of the related activity are recognized in earnings (e.g., upon sale of an investment security).
Revenue Recognition	Deferred revenue is recorded primarily for restaurant gift card sales and certain T-System revenue. The unrecognized portion of such revenue is recorded as Deferred revenue in the Consolidated and Combined Balance Sheets. Restaurant revenue consists of restaurant sales, bakery operations, and, to a lesser extent, franchise revenue and other revenue. Restaurant sales include food and beverage sales and gift card breakage, are net of applicable state and local sales taxes and discounts, and are recognized at a point in time as services are performed and goods are provided. Revenue from bakery operations is recognized at a point in time in the period during which the products are shipped and control transfers to the customer. Franchise revenue and other revenue consist of development fees and royalties on sales by franchised units. Initial franchise fees are recognized as income upon commencement of the franchise operation and completion of all material services and conditions by the Company. Royalties are calculated as a percentage of the franchisee sales and recognized in the period in which the sales are generated. Revenue resulting from the sale of gift cards is recognized in the period in which the gift card is redeemed and is recorded as deferred revenue until recognized. T-System recognizes revenue when a customer obtains control of the promised goods or services. The amount of revenue recognized is determined by the consideration that T-System expects to be entitled to in exchange for the goods and services. T-System's contracts with customers typically do not include variable consideration such as right of return or refund or other form of incentives or considerations payable to customers. T-System offers a software as a service solution with full-service coding ("RevCycle+") available, through contracts with customers to either provide access to its proprietary coding software platform or provide medical chart coding services. Billing for both services occurs monthly as services are provided. Billing for medical chart coding services is based on a fixed monthly fee. Revenue for RevCycle+ is recognized ratably over the term of the contract as services are consumed by the customer. Revenue for implementation and upfront training services provided to the customer, if any, are billed separately and recognized at a point in time upon completion of such services as T-System's performance obligation is considered complete. T-System sells an electronic version of the medical documentation system (“EV”), provided in the form of a non-exclusive license to use the software at the sites under the agreement when the software is made available to the customer. EV contracts with customers can include various combinations of products and services which are generally capable of being distinct and accounted for as separate performance obligations such as software licenses, implementation services, third party interface licenses or subscriptions, hardware, and maintenance (software updates and technical support services). T-System sells software licenses through recurring fixed-term or subscription fee arrangements and one-time perpetual license arrangements (perpetual licenses), and as software as a service solution (cloud solutions). EV term license and perpetual license contracts include performance obligations that are both satisfied at a point in time and over a period of time as goods and services are transferred. T-System also sells legacy medical documentation templates ("T-Sheets") to emergency care providers to be used for documentation of patient care. T-Sheets includes various optional recurring fixed-term or subscription licenses which are recognized over time after access to the template has been delivered to the customer. EV software as a service contracts typically include one stand ready performance obligation to provide subscription services which are satisfied over time. Judgment is required to determine whether the software license is considered distinct and accounted for separately, or not distinct and accounted for together with the cloud service and recognized over time. Judgment is required to determine the standalone selling price ("SSP") for each distinct performance obligation. In instances where SSP is not directly observable, such as when we do not sell the product or service separately, we determine the SSP using information that may include our pricing strategy and other observable inputs. T-System typically bills its customers on a monthly or other frequent periodic basis in accordance with the underlying contracts with its customers. We have determined our contracts generally do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to receive financing from our customers. Revenue is recognized net of any taxes collected from customers. Other operating revenue consists of income generated by our resort operations which includes sales of real estate, lodging rentals, food and beverage sales, and other income from various resort services offered. Revenue is recognized upon closing of the sale of real estate or once goods and services have been provided and billed to the customer.

Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in the balance of other comprehensive earnings (loss) by component are as follows:



	Unrealized gain (loss) on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)			Unrealized (loss) gain relating to investments in unconsolidated affiliates			Total Accumulated Other Comprehensive (Loss) Earnings
	(In millions)
Balance December 31, 2016	$	4.9		$	(73.0	)	$	(68.1	)
Other comprehensive (losses) earnings	(8.7		)	8.9			0.2
Reclassification adjustments	(3.1		)	—			(3.1		)
Balance December 31, 2017	(6.9		)	(64.1		)	(71.0		)
Other comprehensive (losses) earnings	0.9			(12.0		)	(11.1		)
Adjustment for adoption of ASU 2018-02	(1.6		)	(14.5		)	(16.1		)
Reclassification adjustments	7.0			24.0			31.0
Balance December 31, 2018	$	(0.6	)	$	(66.6	)	$	(67.2	)

Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Schedule of Total Consideration Paid

The total consideration paid was as follows (in millions):



Cash paid	$	12.0
Cash consideration financed through a mortgage loan	15.5
Total cash consideration paid	$	27.5

The total consideration paid was as follows (in millions):



Cash paid	$	202.2
Less: Cash acquired	1.3
Total cash consideration paid	$	200.9

Summary of Total Purchase Price Consideration and Fair Value Amounts Recognized



	Fair Value
Trade receivables	$	0.4
Prepaid and other current assets	1.2
Other long-term investments	8.7
Property and equipment	14.4
Other intangible assets	7.0
Total assets acquired	31.7

Accounts payable and accrued liabilities	1.1
Deferred revenue	1.1
Notes payable	0.2
Total liabilities assumed	2.4
Total noncontrolling assumed	1.8
Net assets acquired	$	27.5



	Fair Value
Trade receivables	$	17.5
Prepaid and other current assets	2.0
Property and equipment	1.2
Goodwill	88.3
Other intangible assets	100.5
Other noncurrent assets	8.2
Total assets acquired	217.7

Accounts payable and accrued liabilities	6.6
Deferred revenue	2.1
Deferred tax liabilities	8.1
Total liabilities assumed	16.8
Net assets acquired	$	200.9

Unaudited Pro-forma Combined Results of Operations



	Year ended December 31,
	2017		2016
	(Unaudited)
Total revenues	$	1,214.8	$	1,242.5
Net earnings (loss) attributable to Cannae Holdings	109.8		(5.4		)



	Year ended December 31,
	2016
	(Unaudited)
Total revenues	$	1,179.4
Net loss attributable to Cannae Holdings	(11.7		)

Gross Carrying Values and Weighted Average Estimated Useful Lives of Property and Equipment



	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)
Property and equipment	$	1.2	3 - 5
Other intangible assets:
Customer relationships	51.0		10
Computer software	40.3		9
Tradename	9.2		10
Total other intangible assets	100.5
Total	$	101.7



	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)
Property and equipment	$	14.4	3 - 40
Other intangible assets:
Management services contract	5.2		12
Tradename	1.8		15
Total other intangible assets	7.0
Total	$	21.4



Property and equipment consists of the following:
	Year Ended December 31,
	2018			2017
	(In millions)
Furniture, fixtures and equipment	$	192.9		$	192.8
Leasehold improvements	138.5			146.3
Land	34.4			38.7
Buildings	27.2			33.5
	393.0			411.3
Accumulated depreciation and amortization	(216.6		)	(192.5		)
	$	176.4		$	218.8

Gross Carrying Values and Weighted Average Estimated Useful Lives of Other Intangible Assets



	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)
Property and equipment	$	14.4	3 - 40
Other intangible assets:
Management services contract	5.2		12
Tradename	1.8		15
Total other intangible assets	7.0
Total	$	21.4



	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)
Property and equipment	$	1.2	3 - 5
Other intangible assets:
Customer relationships	51.0		10
Computer software	40.3		9
Tradename	9.2		10
Total other intangible assets	100.5
Total	$	101.7

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents our fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 and 2017, respectively:



	December 31, 2018
	Level 1		Level 2		Level 3		Total
	(In millions)
Assets:
Fixed-maturity securities available for sale:
Corporate debt securities	$	—	$	—	$	17.8	$	17.8
Total assets	$	—	$	—	$	17.8	$	17.8



	December 31, 2017
	Level 1		Level 2		Level 3		Total
	(In millions)
Assets:
Fixed-maturity securities available for sale:
Corporate debt securities	$	—	$	14.8	$	—	$	14.8
Equity securities	17.7		—		—		17.7
Total assets	$	17.7	$	14.8	$	—	$	32.5

Summary of Changes in Fair Values Level 3 Assets Measured on Recurring Basis

The following table presents a summary of the changes in the fair values of Level 3 assets, measured on a recurring basis, for the year ended December 31, 2018.



	December 31, 2018
	Corporate debt
	securities

Fair value, December 31, 2017	$	—
Transfers from Level 2	21.4
Paid-in-kind dividends and interest (1)	0.3
Accretion of original purchase discount (1)	0.7
Impairment (2)	(12.5		)
Reclassification of impairment previously included in other comprehensive earnings to net earnings	7.9
Fair value, December 31, 2018	$	17.8

(1) Included in Interest and investment income on the Consolidated and Combined Statements of Operations

(2) Included in Realized gains, net on the Consolidated and Combined Statements of Operations

Investments (Tables)

12 Months Ended

Dec. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of Carrying Amounts and Fair Values of Available for Sale Securities

The carrying amounts and fair values of our available for sale securities at December 31, 2018 and 2017 are as follows:



	December 31, 2018
	Carrying Value		Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
	(In millions)
Fixed maturity securities available for sale:
Corporate debt securities	$	17.8	$	18.8	$	0.9	$	(1.9	)	$	17.8
Total	$	17.8	$	18.8	$	0.9	$	(1.9	)	$	17.8



	December 31, 2017
	Carrying Value		Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
	(In millions)
Fixed maturity securities available for sale:
Corporate debt securities	$	14.8	$	26.3	$	0.3	$	(11.8	)	$	14.8
Equity securities	17.7		17.7		0.3		(0.3		)	17.7
Total	$	32.5	$	44.0	$	0.6	$	(12.1	)	$	32.5

Schedule of Investment Securities in a Continuous Unrealized Loss Position



	Less than 12 Months
	Fair		Unrealized
	Value		Losses
Corporate debt securities	$	10.4	$	(1.9	)
Total temporarily impaired securities	$	10.4	$	(1.9	)

Schedule of Investments in Unconsolidated Affiliates and Summarized Financial Information for Ceridian

Investments in unconsolidated affiliates recorded using the equity method of accounting as of December 31, 2018 and 2017 consisted of the following (in millions):



	Ownership at December 31, 2018		2018		2017
Ceridian Holding LLC	—	%	$	—	$	324.9
Ceridian Holding II LLC	—	%	—		58.4
Ceridian	23.5	%	$	359.7	—
Total investment in Ceridian			359.7		383.3
Other	various		37.5		41.6
Total			$	397.2	$	424.9

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment



	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)
Property and equipment	$	1.2	3 - 5
Other intangible assets:
Customer relationships	51.0		10
Computer software	40.3		9
Tradename	9.2		10
Total other intangible assets	100.5
Total	$	101.7



	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)
Property and equipment	$	14.4	3 - 40
Other intangible assets:
Management services contract	5.2		12
Tradename	1.8		15
Total other intangible assets	7.0
Total	$	21.4



Property and equipment consists of the following:
	Year Ended December 31,
	2018			2017
	(In millions)
Furniture, fixtures and equipment	$	192.9		$	192.8
Leasehold improvements	138.5			146.3
Land	34.4			38.7
Buildings	27.2			33.5
	393.0			411.3
Accumulated depreciation and amortization	(216.6		)	(192.5		)
	$	176.4		$	218.8

Goodwill (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Goodwill consists of the following:



		Restaurant Group			T-System			Corporate and Other		Total
	(in millions)
Balance, December 31, 2016		$	103.1		$	—		$	—	$	103.1
Goodwill acquired during the year		—			99.6			—		99.6
Balance, December 31, 2017		$	103.1		$	99.6		$	—	$	202.7
Measurement period adjustments to prior year acquisitions		—			(11.2		)	—		(11.2		)
Impairment		(26.7		)	—			—		(26.7		)
Balance, December 31, 2018		$	76.4		$	88.4		$	—	$	164.8

Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Variable Interest Entities

The table below summarizes select information related to variable interests held by the Company as of December 31, 2018 and 2017, of which we are not the primary beneficiary:



		2018		2017
		Total Assets	Maximum Exposure	Total Assets	Maximum Exposure
	(in millions)
Investments in unconsolidated affiliates		9.2	9.2	13.0	14.7

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Amortizable Intangible Assets

Other intangible assets consist of the following:



	December 31,
	2018			2017
	(In millions)
Trademarks and tradenames	$	80.3		$	84.0
Software	57.4			67.4
Customer relationships and contracts	56.2			61.8
Other	51.4			17.4
	245.3			230.6
Accumulated amortization	(69.5		)	(16.1		)
	$	175.8		$	214.5

Schedule of Non-Amortizable Intangible Assets

Other intangible assets consist of the following:



	December 31,
	2018			2017
	(In millions)
Trademarks and tradenames	$	80.3		$	84.0
Software	57.4			67.4
Customer relationships and contracts	56.2			61.8
Other	51.4			17.4
	245.3			230.6
Accumulated amortization	(69.5		)	(16.1		)
	$	175.8		$	214.5

Inventory (Tables)

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventory consists of the following:



	December 31,
	2018			2017
	(In millions)
Bakery inventory:
Raw materials	$	6.8		$	9.1
Semi-finished and finished goods	5.6			7.5
Packaging	2.4			2.8
Obsolescence reserve	(3.0		)	(0.6		)
Total bakery inventory	11.8			18.8
Restaurant and other inventory	10.3			10.9
Other, non-restaurant inventory	0.2			—
Total inventory	$	22.3		$	29.7

Accounts Payable and Other Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Payables and Accruals [Abstract]

Accounts Payable and Other Accrued Liabilities, Current and Long Term

Accounts payable and other accrued liabilities, current consist of the following:



	December 31,
	2018		2017
	(In millions)
Accrued payroll and employee benefits	$	23.9	$	23.7
Trade accounts payable	23.4		20.3
Accrued casualty insurance expenses	16.7		16.5
Other accrued liabilities	34.4		40.2
	$	98.4	$	100.7

Accounts payable and other accrued liabilities, long term consist of the following:



	December 31,
	2018		2017
	(In millions)
Unfavorable lease liability	$	20.9	$	25.6
Other accrued liabilities	36.5		36.9
	$	57.4	$	62.5

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Notes Payable

Notes payable consists of the following:



	December 31,
	2018		2017
	(In millions)
ABRH Term Loan	$	—	$	84.2
ABRH Revolving Credit Facility	—		38.0
99 Term Loan, due December 21, 2023 with interest payable monthly at 8.00%	36.1		—
99 Revolver, unused portion of $15.0 million at December 31, 2018	—		—
DLOC Loan, unused portion of $10.0 million at December 31, 2018	—		—
Margin Facility, unused portion of $300.0 million at December 31, 2018	—		—
Brasada Interstate Loans, due January 2026 with interest payable at varying rates	11.7		12.1
FNF Revolver, unused portion of $100.0 million at December 31, 2018	—		—
Other	0.3		0.6
Notes payable, total	$	48.1	$	134.9
Less: Notes payable, current	5.9		122.2
Notes payable, long term	$	42.2	$	12.7

Gross Principal Maturities Based Upon Contractual Maturities of Notes Payable



Gross principal maturities of notes payable at December 31, 2018 are as follows (in millions):
2019	$	5.9
2020	6.6
2021	5.8
2022	5.8
2023	16.1
Thereafter	9.1
	$	49.3

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Topic 505
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+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income Tax (Benefit) Expense on Continuing Operations

Income tax expense (benefit) on continuing operations consists of the following:



	Year Ended December 31,
	2018			2017			2016
	(In millions)
Current	$	24.4		$	(28.2	)	$	6.2
Deferred	(11.3		)	11.6			(16.6		)
	$	13.1		$	(16.6	)	$	(10.4	)

Schedule of Reconciliation of Effective Tax Rate

A reconciliation of the federal statutory rate to our effective tax rate is as follows:



	Year Ended December 31,
	2018		2017		2016
Federal statutory rate	21.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	3.5		3.1		4.4
Tax credits	(27.6	)	8.6		(66.1	)
Valuation allowance	—		5.9		—
Non-deductible expenses and other, net	4.2		(5.0	)	9.1
Non-deductible executive compensation	82.1		—		—
Dividends received deduction	(41.4	)	—		—
Noncontrolling interests	43.2		(7.6	)	(2.3	)
Tax Reform	(3.8	)	(9.9	)	—
Other	—		(3.7	)	—
Effective tax rate excluding equity investments	81.2	%	26.4	%	(19.9	)%
Equity investments	(10.8	)	(4.4	)	(184.4	)
Effective tax rate	70.4	%	22.0	%	(204.3	)%

Schedule of Significant Components of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities at December 31, 2018 and 2017 consist of the following:



	December 31,
	2018			2017
	(In millions)
Deferred tax assets:
Employee benefit accruals	$	0.3		$	0.2
Net operating loss carryforwards	5.4			10.9
Equity investments	8.9			14.6
Investment securities	2.8			3.0
Partnerships	11.1			—
Accrued liabilities	1.8			3.3
Tax credit carryforwards	—			1.1
Other	0.5			—
Total gross deferred tax asset	30.8			33.1
Less: valuation allowance	—			0.7
Total deferred tax asset	$	30.8		$	32.4
Deferred tax liabilities:
Amortization of goodwill and intangible assets	$	(10.9	)	$	(16.8	)
Partnerships	—			(4.4		)
Depreciation	(0.2		)	(0.6		)
Other	(2.8		)	—
Total deferred tax liability	$	(13.9	)	$	(21.8	)
Net deferred tax asset	$	16.9		$	10.6

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Operating Lease Payments



Future minimum operating lease payments are as follows (in millions):
2019	$	62.0
2020	57.7
2021	51.3
2022	40.7
2023	34.1
Thereafter	133.2
Total future minimum operating lease payments	$	379.0

Purchase Obligations

Purchase obligations as of December 31, 2018 are as follows (in millions):



2019	$	194.4
2020	80.9
2021	46.7
2022	8.9
2023	3.4
Thereafter	7.3
Total purchase commitments	$	341.6

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Reconciliation of Operations and Financial Position

A reconciliation of the operations of OneDigital to the Consolidated and Combined Statement of Operations is shown below:



	Year Ended December 31,
	Year Ended December 31,
	2017			2016
	(in millions)
Revenues:
Other operating revenue	$	80.9		$	148.3
Total operating revenues	80.9			148.3
Operating expenses:
Personnel costs	56.9			94.8
Depreciation and amortization	8.8			18.1
Other operating expenses	11.3			27.1
Total operating expenses	77.0			140.0
Operating income	3.9			8.3
Other income (expense):
Interest expense	(2.9		)	(4.8		)
Realized gain	276.0			—
Total other income (expense)	273.1			(4.8		)
Earnings from continuing operations before income taxes	277.0			3.5
Income tax expense	129.3			1.5
Net earnings from discontinued operations	$	147.7		$	2.0

Cash flow from discontinued operations data:
Net cash provided by operations	$	17.3		$	27.6
Net cash used in investing activities	(27.3		)	(51.9		)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 360
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Restricted Stock Transactions Under Omnibus Plan

Restricted stock transactions under the Omnibus Plan in 2018 and 2017 are as follows:




	Shares		Weighted Average Grant Date Fair Value
Balance, December 31, 2016	—		$	—
Granted	287,059		18.45
Balance, December 31, 2017	287,059		$	18.45
Granted	384,281		17.98
Vested	(95,685	)	18.45
Balance, December 31, 2018	575,655		$	18.13

Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Summary of Financial Information Concerning Reportable Segments

As of and for the year ended December 31, 2018:



	Restaurant Group			T-System			Ceridian			Corporate and Other		Ceridian Elimination			Total
	(in millions)
Restaurant revenues	$	1,117.8		$	—		$	—		$	—	$	—		$	1,117.8
Other revenues	—			57.9			746.4			29.7		(746.4		)	87.6
Revenues from external customers	1,117.8			57.9			746.4			29.7		(746.4		)	1,205.4
Interest and investment income, including realized gains and losses	(2.1		)	—			—			175.2		—			173.1
Total revenues and other income	1,115.7			57.9			746.4			204.9		(746.4		)	1,378.5
Depreciation and amortization	44.9			15.0			56.6			1.4		(56.6		)	61.3
Interest expense	(16.0		)	(4.3		)	(83.2		)	15.6		83.2			(4.7		)
(Loss) earnings from continuing operations, before income taxes and equity in earnings (loss) of unconsolidated affiliates	(96.8		)	(8.3		)	(30.4		)	123.7		30.4			18.6
Income tax expense (benefit)	0.6			(1.9		)	7.7			14.4		(7.7		)	13.1
(Loss) earnings from continuing operations, before equity in earnings (loss) of unconsolidated affiliates	(97.4		)	(6.4		)	(38.1		)	109.3		38.1			5.5
Equity in earnings of unconsolidated affiliates	0.1			—			—			4.3		(20.5		)	(16.1		)
(Loss) earnings from continuing operations	$	(97.3	)	$	(6.4	)	$	(38.1	)	$	113.6	$	17.6		$	(10.6	)
Assets	$	432.3		$	206.3		$	5,154.4		$	820.9	$	(5,154.4	)	$	1,459.5
Goodwill	76.4			88.4			1,927.4			—		(1,927.4		)	164.8

As of and for the year ended December 31, 2017:



	Restaurant Group			T-System			Ceridian			Corporate and Other			Ceridian Elimination			Total
	(in millions)
Restaurant revenues	$	1,129.0		$	—		$	—		$	—		$	—		$	1,129.0
Other revenues	—			12.9			670.8			27.6			(670.8		)	40.5
Revenues from external customers	1,129.0			12.9			670.8			27.6			(670.8		)	1,169.5
Interest and investment income, including realized gains and losses	—			—			—			10.2			—			10.2
Total revenues and other income	1,129.0			12.9			670.8			37.8			(670.8		)	1,179.7
Depreciation and amortization	43.6			3.1			53.8			2.6			(53.8		)	49.3
Interest expense	(6.6		)	—			(87.1		)	(0.4		)	87.1			(7.0		)
(Loss) earnings from continuing operations, before income taxes and equity in earnings (loss) of unconsolidated affiliates	(36.1		)	(0.9		)	(54.1		)	(38.2		)	54.1			(75.2		)
Income tax expense (benefit)	0.7			(2.4		)	(49.6		)	(14.9		)	49.6			(16.6		)
(Loss) earnings from continuing operations, before equity in earnings (loss) of unconsolidated affiliates	(36.8		)	1.5			(4.5		)	(23.3		)	4.5			(58.6		)
Equity in earnings of unconsolidated affiliates	0.1			—			—			1.4			1.9			3.4
(Loss) earnings from continuing operations	$	(36.7	)	$	1.5		$	(4.5	)	$	(21.9	)	$	6.4		$	(55.2	)
Assets	$	501.0		$	221.2		$	6,729.9		$	765.0		$	(6,729.9	)	$	1,487.2
Goodwill	103.1			99.6			1,961.0			—			(1,961.0		)	202.7

As of and for the year ended December 31, 2016:



	Restaurant Group			Ceridian			Corporate and Other			Ceridian Elimination			Total
	(in millions)
Restaurant revenues	$	1,157.6		$	—		$	—		$	—		$	1,157.6
Other revenues	—			623.4			20.8			(623.4		)	20.8
Revenues from external customers	1,157.6			623.4			20.8			(623.4		)	1,178.4
Interest and investment (loss) income, including realized gains and losses	(2.5		)	—			15.1			—			12.6
Total revenues and other income	1,155.1			623.4			35.9			(623.4		)	1,191.0
Depreciation and amortization	42.4			53.2			2.3			(53.2		)	44.7
Interest expense	(4.7		)	(87.4		)	(0.5		)	87.4			(5.2		)
Earnings (loss) from continuing operations, before income taxes and equity in losses of unconsolidated affiliates	0.8			(98.6		)	4.4			98.6			5.2
Income tax expense (benefit)	0.4			6.7			(10.8		)	(6.7		)	(10.4		)
Earnings (loss) from continuing operations, before equity in losses of unconsolidated affiliates	0.4			(105.3		)	15.2			105.3			15.6
Equity in losses of unconsolidated affiliates	—			—			(0.4		)	(29.1		)	(29.5		)
Earnings (loss) from continuing operations	$	0.4		$	(105.3	)	$	14.8		$	76.2		$	(13.9	)
Assets	$	497.2		$	6,426.5		$	976.1		$	(6,426.5	)	$	1,473.3
Goodwill	103.1			1,933.1			—			(1,933.1		)	103.1

Supplementary Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2018

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Cash Flow information

The following supplemental cash flow information is provided with respect to interest and tax payments, as well as certain non-cash investing and financing activities.



	Year Ended December 31,
	2018			2017		2016
	(In millions)
Cash paid during the year:
Interest	$	3.3		$	8.7	$	8.7
Income taxes	0.2			117.7		4.0

Non-cash investing activities:
Acquisition of Ceridian HCM common shares through non-cash private placement investment - see Note A	$	(33.4	)	—		—
Non-cash distribution of LifeWorks from Ceridian - see Note A	32.5			—		—
Non-cash financing activities:
Liabilities and noncontrolling interests assumed in connection with acquisitions (1):
Fair value of net assets acquired	$	—		$	252.5	$	92.0
Less: Total cash purchase price	—			222.7		75.8
Liabilities and noncontrolling interests assumed	$	—		$	29.8	$	16.2

Debt extinguished through the sale of OneDigital	$	—		$	151.1	$	—

_____________________________________

(1) See Note B for further discussion of assets and liabilities acquired in business combinations in the years ended December 31, 2017 and 2016.

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Our revenue consists of:



		Year ended December 31,
		2018
Revenue Stream	Segment	Total Revenue
Restaurant revenue:		(in millions)
Restaurant sales	Restaurant Group	$	1,023.0
Bakery sales	Restaurant Group	88.8
Franchise and other	Restaurant Group	6.0
Total restaurant revenue		1,117.8
Other operating revenue:
T-System, point-in-time	T-System	24.5
T-System, over time	T-System	33.4
Real estate and resort	Corporate and other	23.2
Other	Corporate and other	6.5
Total other operating revenue		87.6
Total operating revenues		1,205.4

Contract Balances, Receivables and Deferred Revenue

The following table provides information about receivables and deferred revenue:



	December 31,
	2018
	(In millions)
Trade receivables, billed (1)	$	40.3
Unbilled accounts receivable, current (1)	9.5
Unbilled accounts receivable, long term (2)	10.6
Deferred revenue (contract liabilities)	31.7

(1) Included in Trade receivables on the Consolidated and Combined Balance Sheets

(2) Included in Other noncurrent assets on the Consolidated and Combined Balance Sheets

Business and Summary of Significant Accounting Policies - Description of the Business (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net assets	$ 1,124.6	$ 1,059.4

Business and Summary of Significant Accounting Policies - Split-off of Cannae From FNF (Details)	1 Months Ended	12 Months Ended
	Dec. 31, 2016 $ / shares	Dec. 31, 2018 $ / shares	Dec. 31, 2017 $ / shares
Business Acquisition [Line Items]
Par value per share (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Corporate Services Agreement \| FNF \| Parent
Business Acquisition [Line Items]
Period for FNF to provide services at no-cost (up to)		3 years
FNFV Group
Business Acquisition [Line Items]
Par value per share (in dollars per share)	$ 0.0001
Number of shares of common stock in newly formed entity received for each share redeemed (ratio)	1

Business and Summary of Significant Accounting Policies - Recent Developments (Details) - USD ($)												3 Months Ended	12 Months Ended
	Feb. 08, 2019	Dec. 21, 2018	Nov. 16, 2018	Nov. 06, 2018	Aug. 08, 2018	Jul. 27, 2018	May 16, 2018	May 07, 2018	May 01, 2018	Apr. 26, 2018	Nov. 16, 2017	Oct. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Realized gains, net													$ 166,800,000	$ 4,900,000	$ 9,300,000
Income tax expense (benefit)													(13,100,000)	16,600,000	10,400,000
Personnel costs													170,300,000	103,200,000	68,300,000
Long-term debt													48,100,000	134,900,000
Proceeds from credit agreement													33,900,000	84,400,000	$ 76,700,000
Property and equipment, net													176,400,000	218,800,000
Prepaid expenses and other current assets													25,200,000	$ 21,400,000
ABRH Real Estate \| Disposal Group, Held-for-sale, Not Discontinued Operations
Line of Credit Facility [Line Items]
Property and equipment, net													9,300,000
Prepaid expenses and other current assets													$ 9,300,000
99 Holdings
Line of Credit Facility [Line Items]
Cumulative percentage ownership after all transactions				88.50%
Fidelity Newport Holdings, LLC
Line of Credit Facility [Line Items]
Cumulative percentage ownership after all transactions				65.40%
Intercompany Credit Facility \| Revolver Note \| 99 Holdings
Line of Credit Facility [Line Items]
Debt exchanged for direct equity interest				$ 100,000,000
Direct equity interest exchanged for long-term debt release, percent				66.70%
Common Stock
Line of Credit Facility [Line Items]
Shares issued for investment success bonuses, net of issuance costs (in shares)													1,000,000
LifeWorks Corporation \| Ceridian
Line of Credit Facility [Line Items]
Proceeds from sale of equity Interests in minority-owned subsidiary						$ 325,000,000
Cash proceeds from sale of equity investment												$ 56,200,000
Gain on sale of equity investment													$ 24,000,000
Subsidiaries of FNF
Line of Credit Facility [Line Items]
Number of shares exchanged (in shares)											5,706,134
Aggregate amount contributed by certain subsidiaries of FNF											$ 100,000,000
Ceridian
Line of Credit Facility [Line Items]
Price per share (in usd per share)										$ 22.00
Termination fees received									$ 5,600,000
Investment owned, shares (in shares)										37,135,921
Ceridian \| IPO
Line of Credit Facility [Line Items]
Number of shares exchanged (in shares)			4,396,694							21,000,000
Price per share (in usd per share)			$ 36.00
Option to exercise, period										30 years
Aggregate amount contributed by certain subsidiaries of FNF			$ 152,500,000
Success bonuses (up to)								$ 67,100,000
IPO success bonus calculation, percentage								10.00%
Gain on sale of equity investment													92,600,000
Price per share received (in usd per share)			$ 34.695
Ceridian \| IPO \| Board Of Directors And Management
Line of Credit Facility [Line Items]
Personnel costs													46,900,000
Ceridian \| IPO \| Common Stock \| The Omnibus Plan
Line of Credit Facility [Line Items]
Shares issued for investment success bonuses, net of issuance costs (in shares)							991,906
Ceridian \| Over-Allotment Option
Line of Credit Facility [Line Items]
Number of shares exchanged (in shares)										3,150,000
Ceridian \| Subsidiaries of FNF
Line of Credit Facility [Line Items]
Number of shares exchanged (in shares)										1,521,030
Aggregate amount contributed by certain subsidiaries of FNF										$ 33,400,000
Realized gains, net													63,200,000
Ceridian \| Subsidiaries of FNF \| Reclassification Adjustments, Investment Losses, Before Tax, From Other Comprehensive Income To Realized Gains, Net
Line of Credit Facility [Line Items]
Realized gains, net													(21,100,000)
Ceridian \| Subsidiaries of FNF \| Reclassification Adjustments, Investment Losses, Before Tax, From Other Comprehensive Income to Realized Gains, Net, Tax
Line of Credit Facility [Line Items]
Income tax expense (benefit)													4,400,000
ABRH \| 99 Holdings
Line of Credit Facility [Line Items]
Ownership (as a percent)				33.30%
ABRH \| Intercompany Credit Facility \| Revolver Note
Line of Credit Facility [Line Items]
Long-term debt				$ 133,000,000
Fidelity Newport Holdings, LLC \| Capital Unit, Class A
Line of Credit Facility [Line Items]
Ownership interests, units issued (in shares)				18,023,407
99 Restaurants \| 99 Term Loan, due December 21, 2023 with interest payable monthly at 8.00%
Line of Credit Facility [Line Items]
Proceeds from credit agreement		$ 36,200,000
Dun And Bradstreet Corporation
Line of Credit Facility [Line Items]
Cash paid for each share of common stock owned					$ 145.00
Dun And Bradstreet Corporation \| Commitment To Purchase Common Equity Of Star And Dun And Bradstreet \| Cannae
Line of Credit Facility [Line Items]
Commitment to purchase common equity													$ 900,000,000
Percentage of outstanding common equity													24.50%
Dun And Bradstreet Corporation \| Equity Commitment To Purchase Common Equity Of Star And Dun And Bradstreet, Retained And Funded \| Cannae
Line of Credit Facility [Line Items]
Commitment to purchase common equity													$ 505,600,000.0
Dun And Bradstreet Corporation \| Subsequent Event
Line of Credit Facility [Line Items]
Acquisition financed from common equity from Consortium	$ 2,100,000,000
Acquisition financed by preferred equity from preferred equity sources	1,100,000,000
Acquisition financed from debt financing, various lenders	$ 4,000,000,000

Business and Summary of Significant Accounting Policies - Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Line Items]
Goodwill impairment	$ 26,700,000	$ 0	$ 0
Restaurant Group
Goodwill [Line Items]
Goodwill impairment	$ 26,700,000

Business and Summary of Significant Accounting Policies - Other Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restaurant Group
Finite-Lived Intangible Assets [Line Items]
Impairment expense	$ 5.8	$ 2.9	$ 0.0
Computer software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	3 years
Computer software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	10 years

Business and Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Impairment expense related to property and equipment	$ 8.1	$ 6.9	$ 2.8
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	30 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	40 years
Furniture, fixtures and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	3 years
Furniture, fixtures and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	25 years

Business and Summary of Significant Accounting Policies - Insurance Reserves (Details) $ in Millions	Dec. 31, 2018 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liability for insurance reserves	$ 15.4

Business and Summary of Significant Accounting Policies - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Advertising costs incurred	$ 35.6	$ 35.6	$ 36.1

Business and Summary of Significant Accounting Policies - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,153.1	$ 1,009.8	$ 1,056.5
Other comprehensive (losses) earnings	19.9	(2.9)	7.4
Ending balance	1,199.7	1,153.1	1,009.8
Unrealized gain (loss) on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(6.9)	4.9
Other comprehensive (losses) earnings	0.9	(8.7)
Reclassification adjustments	7.0	(3.1)
Ending balance	(0.6)	(6.9)	4.9
Unrealized gain (loss) on investments and other financial instruments, net (excluding investments in unconsolidated affiliates) \| ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Adjustment for adoption of ASU 2018-02	(1.6)
Unrealized (loss) gain relating to investments in unconsolidated affiliates
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(64.1)	(73.0)
Other comprehensive (losses) earnings	(12.0)	8.9
Reclassification adjustments	24.0	0.0
Ending balance	(66.6)	(64.1)	(73.0)
Unrealized (loss) gain relating to investments in unconsolidated affiliates \| ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Adjustment for adoption of ASU 2018-02	(14.5)
Total Accumulated Other Comprehensive (Loss) Earnings
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(71.0)	(68.1)
Other comprehensive (losses) earnings	(11.1)	0.2
Reclassification adjustments	31.0	(3.1)
Ending balance	(67.2)	$ (71.0)	$ (68.1)
Total Accumulated Other Comprehensive (Loss) Earnings \| ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Adjustment for adoption of ASU 2018-02	$ (16.1)

Business and Summary of Significant Accounting Policies - Earnings Per Share (Details) - shares shares in Millions		12 Months Ended
	Nov. 17, 2017	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Antidilutive shares excluded from calculation of diluted earnings per share		0.0	0.1
Cannae Holdings Common Stock \| FNFV Group
Class of Stock [Line Items]
Common shares distributed to FNFV Group shareholders	70.6

Business and Summary of Significant Accounting Policies - Revision of Prior Interim Periods of the Current Year Financial Statements (Details) - ASU 2014-09 - USD ($) $ in Millions	Jan. 01, 2018	Dec. 31, 2017
Retained Earnings \| Adjustments for error corrections to prior interim periods of current year \| T-System
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to cumulative effect of adoption of new accounting principle	$ 2.4
Difference between Revenue Guidance in Effect before and after Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption of new accounting policy	1.9
Difference between Revenue Guidance in Effect before and after Topic 606 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption of new accounting policy	$ 1.9	$ 4.3

Acquisitions and Dispositions - Narrative (Details) - USD ($) $ in Millions			3 Months Ended	12 Months Ended
	Oct. 16, 2017	Jan. 18, 2016	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Total consideration, net of cash received				$ 0.0	$ 222.7	$ 75.8
Measurement period adjustment to Goodwill				$ 11.2
Brasada
Business Acquisition [Line Items]
Subsidiary ownership interest		87.00%
T-System
Business Acquisition [Line Items]
Merger consideration	$ 202.2
T-System \| FNFV
Business Acquisition [Line Items]
Total consideration, net of cash received	$ 200.9
Percentage ownership acquired	100.00%
Measurement period adjustment to deferred revenue			$ 8.9
Measurement period adjustment to Goodwill			5.7
Measurement period adjustment to deferred tax assets			3.2
Measurement period adjustment to other intangible assets			14.5
Measurement period adjustment to other noncurrent assets			8.2
Measurement period adjustment to trade receivables			$ 6.3
Goodwill expected to be deductible for tax purposes	$ 32.8
Brasada \| FNFV
Business Acquisition [Line Items]
Total consideration, net of cash received		$ 27.5

Acquisitions and Dispositions - Schedule of Total Consideration Paid (Details) - USD ($) $ in Millions			12 Months Ended
	Oct. 16, 2017	Jan. 18, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Total cash consideration paid			$ 0.0	$ 222.7	$ 75.8
T-System \| FNFV
Business Acquisition [Line Items]
Cash paid	$ 202.2
Less: Cash acquired	1.3
Total cash consideration paid	$ 200.9
Brasada \| FNFV
Business Acquisition [Line Items]
Cash paid		$ 12.0
Cash consideration financed through a mortgage loan		15.5
Total cash consideration paid		$ 27.5

Acquisitions and Dispositions - Summary of Total Purchase Price Consideration and Fair Value Amounts Recognized (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Oct. 16, 2017	Dec. 31, 2016	Jan. 18, 2016
Business Acquisition [Line Items]
Goodwill	$ 164.8	$ 202.7		$ 103.1
T-System \| FNFV
Business Acquisition [Line Items]
Trade receivables			$ 17.5
Prepaid and other current assets			2.0
Property and equipment			1.2
Goodwill			88.3
Other intangible assets			100.5
Other noncurrent assets			8.2
Total assets acquired			217.7
Accounts payable and accrued liabilities			6.6
Deferred revenue			2.1
Deferred tax liabilities			8.1
Total liabilities assumed			16.8
Net assets acquired			$ 200.9
Brasada \| FNFV
Business Acquisition [Line Items]
Trade receivables					$ 0.4
Prepaid and other current assets					1.2
Other long-term investments					8.7
Property and equipment					14.4
Other intangible assets					7.0
Total assets acquired					31.7
Accounts payable and accrued liabilities					1.1
Deferred revenue					1.1
Notes payable					0.2
Total liabilities assumed					2.4
Total noncontrolling assumed					1.8
Net assets acquired					$ 27.5

Acquisitions and Dispositions - Unaudited Pro-forma Combined Results of Operations (Details) - FNFV - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
T-System
Business Acquisition [Line Items]
Total revenues	$ 1,214.8	$ 1,242.5
Net earnings (loss) attributable to Cannae Holdings	$ 109.8	(5.4)
Brasada
Business Acquisition [Line Items]
Total revenues		1,179.4
Net earnings (loss) attributable to Cannae Holdings		$ (11.7)

Acquisitions and Dispositions - Estimated Useful Lives of Property and Equipment and Other Intangible Assets (Details) - FNFV - USD ($) $ in Millions			12 Months Ended
	Oct. 16, 2017	Jan. 18, 2016	Dec. 31, 2018
T-System
Business Acquisition [Line Items]
Property and equipment	$ 1.2
Total other intangible assets	100.5
Total	$ 101.7
T-System \| Minimum
Business Acquisition [Line Items]
Weighted Average Estimated Useful Life, property and equipment (in years)	3 years
T-System \| Maximum
Business Acquisition [Line Items]
Weighted Average Estimated Useful Life, property and equipment (in years)	5 years
T-System \| Customer relationships
Business Acquisition [Line Items]
Total other intangible assets	$ 51.0
Weighted Average Estimated Useful Life, other intangible assets (in years)	10 years
T-System \| Computer software
Business Acquisition [Line Items]
Total other intangible assets	$ 40.3
Weighted Average Estimated Useful Life, other intangible assets (in years)	9 years
T-System \| Tradename
Business Acquisition [Line Items]
Total other intangible assets	$ 9.2
Weighted Average Estimated Useful Life, other intangible assets (in years)	10 years
Brasada
Business Acquisition [Line Items]
Property and equipment		$ 14.4
Total other intangible assets		7.0
Total		21.4
Brasada \| Minimum
Business Acquisition [Line Items]
Weighted Average Estimated Useful Life, property and equipment (in years)			3 years
Brasada \| Maximum
Business Acquisition [Line Items]
Weighted Average Estimated Useful Life, property and equipment (in years)			40 years
Brasada \| Management services contract
Business Acquisition [Line Items]
Total other intangible assets		$ 5.2
Weighted Average Estimated Useful Life, other intangible assets (in years)		12 years
Brasada \| Tradename
Business Acquisition [Line Items]
Total other intangible assets		$ 1.8
Weighted Average Estimated Useful Life, other intangible assets (in years)		15 years

Acquisitions and Dispositions - Dispositions (Details) - USD ($) $ in Millions		12 Months Ended
	Jun. 06, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 25, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds from sale		$ 4.6	$ 326.0	$ 0.0
Impairment charges		55.2	9.9	3.3
OneDigital \| Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received on sale	$ 560.0	$ 4.5
Proceeds from sale after repayment of debt	331.4
Cash proceeds from sale	326.0
Consideration received on sale, indemnity holdback	$ 5.4
Pre-tax gain on sale			276.0
Income tax expense			126.3
Max & Erma's \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received on sale					$ 6.5
Total expense inclusive of loss on sale and impairment charges Asset Impairment Charges				3.0
Loss on sale				$ 2.5
Impairment charges			$ 0.5

Fair Value Measurements (Details)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Fixed-maturity securities available for sale:
Corporate debt securities	$ 17,800,000
Total assets	17,800,000	$ 32,500,000
Corporate debt securities
Fixed-maturity securities available for sale:
Corporate debt securities	17,800,000	14,800,000
Equity securities available for sale
Fixed-maturity securities available for sale:
Equity securities available for sale		17,700,000
Level 1
Fixed-maturity securities available for sale:
Total assets	0	17,700,000
Level 1 \| Corporate debt securities
Fixed-maturity securities available for sale:
Corporate debt securities	0	0
Level 1 \| Equity securities available for sale
Fixed-maturity securities available for sale:
Equity securities available for sale		17,700,000
Level 2
Fixed-maturity securities available for sale:
Total assets	0	14,800,000
Level 2 \| Corporate debt securities
Fixed-maturity securities available for sale:
Corporate debt securities	0	14,800,000
Level 2 \| Equity securities available for sale
Fixed-maturity securities available for sale:
Equity securities available for sale		0
Level 3
Fixed-maturity securities available for sale:
Total assets	$ 17,800,000	0
Level 3 \| Minimum \| Discount Rate
Fixed-maturity securities available for sale:
Securities, available-for-sale discount rates used	0.170
Level 3 \| Maximum \| Discount Rate
Fixed-maturity securities available for sale:
Securities, available-for-sale discount rates used	0.175
Level 3 \| Weighted Average \| Discount Rate
Fixed-maturity securities available for sale:
Securities, available-for-sale discount rates used	0.175
Level 3 \| Corporate debt securities
Fixed-maturity securities available for sale:
Corporate debt securities	$ 17,800,000	0
Level 3 \| Equity securities available for sale
Fixed-maturity securities available for sale:
Equity securities available for sale		$ 0

Fair Value Measurements - Summary of Changes in Fair Values of Level 3 Assets Measured on a Recurring Basis (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Impairment	$ (12,500,000)	$ 0	$ 0
Assets at fair value	17,800,000	32,500,000
Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Assets at fair value	17,800,000	0
Liabilities at fair value		0
Corporate debt securities \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, December 31, 2017	0
Transfers from Level 2	21,400,000
Paid-in-kind dividends and interest	300,000
Accretion of original purchase discount	700,000
Impairment	(12,500,000)
Reclassification of impairment previously included in other comprehensive earnings to net earnings	7,900,000
Fair value, December 31, 2018	$ 17,800,000	$ 0

Investments - Schedule of Carrying Amounts and Fair Values of Available for Sale Securities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale
Carrying Value	$ 17.8
Cost Basis	18.8
Unrealized Gains	0.9
Unrealized Losses	(1.9)
Available-For-Sale Securities
Carrying Value		$ 32.5
Cost Basis		44.0
Unrealized Gains		0.6
Unrealized Losses		(12.1)
Corporate debt securities
Debt Securities, Available-for-sale
Carrying Value	17.8	14.8
Cost Basis	18.8
Unrealized Gains	0.9
Unrealized Losses	$ (1.9)
Available-For-Sale Securities
Carrying Value		14.8
Cost Basis		26.3
Unrealized Gains		0.3
Unrealized Losses		(11.8)
Equity securities available for sale
Available-For-Sale Securities
Carrying Value		17.7
Cost Basis		17.7
Unrealized Gains		0.3
Unrealized Losses		$ (0.3)

Investments - Schedule of Investment Securities in a Continuous Unrealized Loss Position (Details) $ in Millions	Dec. 31, 2018 USD ($)
Fair Value
Less than 12 Months	$ 10.4
Unrealized Losses
Less than 12 Months	(1.9)
Corporate debt securities
Fair Value
Less than 12 Months	10.4
Unrealized Losses
Less than 12 Months	$ (1.9)

Investments - Narrative (Details) - USD ($)	12 Months Ended
Investments - Narrative (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Securities, Available-for-sale [Line Items]
Other-than-temporary Impairment loss, debt securities	$ 12,500,000	$ 0	$ 0
Proceeds from sale of equity securities	17,700,000	31,600,000
Realized gains on sale of equity securities (less than in current period)	$ 100,000	5,100,000
Realized gains or losses on available for sale securities			0
Impairment charges related to a cost-method investment			3,000,000
Minimum
Debt Securities, Available-for-sale [Line Items]
Fixed securities maturity period	1 year
Maximum
Debt Securities, Available-for-sale [Line Items]
Fixed securities maturity period	5 years
Equity Securities
Debt Securities, Available-for-sale [Line Items]
Proceeds from sale of equity securities			$ 0
Debt Securities
Debt Securities, Available-for-sale [Line Items]
Securities held for which other than temporary impairment was previously recognized	$ 2,300,000
Fixed Income Securities
Debt Securities, Available-for-sale [Line Items]
Other-than-temporary impairment charges relating to investments		0
Equity Securities
Debt Securities, Available-for-sale [Line Items]
Other-than-temporary impairment charges relating to investments		$ 0

Investments - Schedule of Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	$ 397.2	$ 424.9
Ceridian Holding LLC
Schedule of Equity Method Investments [Line Items]
Ownership (as a percent)	0.00%
Investments in unconsolidated affiliates	$ 0.0	324.9
Ceridian Holding II LLC
Schedule of Equity Method Investments [Line Items]
Ownership (as a percent)	0.00%
Investments in unconsolidated affiliates	$ 0.0	58.4
Ceridian
Schedule of Equity Method Investments [Line Items]
Ownership (as a percent)	23.50%
Investments in unconsolidated affiliates	$ 359.7	0.0
Total investment in Ceridian
Schedule of Equity Method Investments [Line Items]
Ownership (as a percent)
Investments in unconsolidated affiliates	$ 359.7	383.3
Aggregate value of ownership of Ceridian common stock	1,100.0
Other
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates	$ 37.5	$ 41.6

Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 393.0	$ 411.3
Accumulated depreciation and amortization	(216.6)	(192.5)
Property and equipment, net	176.4	218.8
Depreciation expense on property and equipment	38.5	41.9	$ 41.4
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	192.9	192.8
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	138.5	146.3
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	34.4	38.7
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 27.2	$ 33.5

Goodwill (Details) - USD ($)	12 Months Ended
Goodwill (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Balance, beginning of year	$ 202,700,000	$ 103,100,000
Goodwill acquired during the year		99,600,000
Measurement period adjustments to prior year acquisitions	(11,200,000)
Impairment	(26,700,000)	0	$ 0
Balance, end of year	164,800,000	202,700,000	103,100,000
Restaurant Group
Goodwill [Roll Forward]
Impairment	(26,700,000)
Restaurant Group \| Operating Segments
Goodwill [Roll Forward]
Balance, beginning of year	103,100,000	103,100,000
Goodwill acquired during the year		0
Measurement period adjustments to prior year acquisitions	0
Impairment	(26,700,000)
Balance, end of year	76,400,000	103,100,000	103,100,000
T-System \| Operating Segments
Goodwill [Roll Forward]
Balance, beginning of year	99,600,000	0
Goodwill acquired during the year		99,600,000
Measurement period adjustments to prior year acquisitions	(11,200,000)
Impairment	0
Balance, end of year	88,400,000	99,600,000	0
Corporate and Other \| Operating Segments
Goodwill [Roll Forward]
Balance, beginning of year	0	0
Goodwill acquired during the year		0
Measurement period adjustments to prior year acquisitions	0
Impairment	0
Balance, end of year	$ 0	$ 0	$ 0

Variable Interest Entities (Details) - Variable interest entity, not primary beneficiary - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Total Assets	$ 9.2	$ 13.0
Maximum Exposure	$ 9.2	14.7
Notes receivable
Variable Interest Entity [Line Items]
Maximum Exposure		$ 1.7

Other Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Other intangible assets, gross	$ 245.3	$ 230.6
Accumulated amortization	(69.5)	(16.1)
Other intangible assets, net	175.8	214.5
Trademarks and tradenames
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	80.3	84.0
Other
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	51.4	17.4
Software
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	57.4	67.4
Customer relationships and contracts
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 56.2	$ 61.8

Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for amortizable intangible assets	$ 22.8	$ 7.4	$ 3.4
Estimated amortization expense, 2019	22.4
Estimated amortization expense, 2020	19.7
Estimated amortization expense, 2021	16.5
Estimated amortization expense, 2022	14.0
Estimated amortization expense, 2023	12.6
Indefinite-lived trade names	$ 69.2	$ 71.6

Inventory (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 6.8	$ 9.1
Semi-finished and finished goods	5.6	7.5
Packaging	2.4	2.8
Obsolescence reserve	(3.0)	(0.6)
Total bakery inventory	11.8	18.8
Restaurant and other inventory	10.3	10.9
Other, non-restaurant inventory	0.2	0.0
Total inventory	$ 22.3	$ 29.7

Accounts Payable and Other Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Accounts payable and other accrued liabilities, current
Accrued payroll and employee benefits	$ 23.9	$ 23.7
Trade accounts payable	23.4	20.3
Accrued casualty insurance expenses	16.7	16.5
Other accrued liabilities	34.4	40.2
Accounts payable and other accrued liabilities, current	98.4	100.7
Accounts payable and other accrued liabilities, long term
Unfavorable lease liability	20.9	25.6
Other accrued liabilities	36.5	36.9
Accounts payable and other accrued liabilities, long term	$ 57.4	$ 62.5

- Schedule of Notes Payable (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Notes payable, total	$ 48,100,000	$ 134,900,000
Less: Notes payable, current	5,900,000	122,200,000
Notes payable, long term	$ 42,200,000	12,700,000
Interest rate, stated percentage	8.00%
ABRH Term Loan \| Other notes payable
Debt Instrument [Line Items]
Notes payable, total	$ 0	84,200,000
ABRH Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable, total	0	38,000,000
99 Term Loan, due December 21, 2023 with interest payable monthly at 8.00% \| Notes payable to banks
Debt Instrument [Line Items]
Notes payable, total	36,100,000	0
Unused portion	15,000,000
99 Revolver, unused portion of $15.0 million at December 31, 2018 \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable, total	0
DLOC Loan, unused portion of $10.0 million at December 31, 2018
Debt Instrument [Line Items]
Notes payable, total	0
Unused portion	10,000,000
Margin Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable, total	0
Unused portion	300,000,000
Brasada Interstate Credit Agreement \| Notes payable to banks
Debt Instrument [Line Items]
Notes payable, total	11,700,000	12,100,000
Corporate Revolver Note \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable, total	0	0
Unused portion	100,000,000
Other \| Other notes payable
Debt Instrument [Line Items]
Notes payable, total	$ 300,000	$ 600,000

Notes Payable - Narrative (Details) - USD ($)						12 Months Ended
Notes Payable - Narrative (Details) - USD ($)	Feb. 07, 2019	Dec. 21, 2018	Nov. 07, 2018	Nov. 17, 2017	Jan. 29, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jun. 13, 2018
Line of Credit Facility [Line Items]
Proceeds from debt						$ 33,900,000	$ 84,400,000	$ 76,700,000
Interest rate incurred						8.00%
Borrowings outstanding						$ 48,100,000	134,900,000
99 Revolver Credit Facility \| Revolver Note
Line of Credit Facility [Line Items]
Borrowings outstanding						$ 0
99 Revolver Credit Facility \| Ninety-Nine Restaurants, LLC \| Revolver Note
Line of Credit Facility [Line Items]
Aggregate borrowing capacity		$ 15,000,000.0
Interest rate incurred						8.00%
Amount available to borrow						$ 25,000,000
99 Revolver Credit Facility \| Ninety-Nine Restaurants, LLC \| Revolver Note \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.50%
99 Revolver Credit Facility \| Ninety-Nine Restaurants, LLC \| Revolver Note \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate		3.50%
99 Revolver Credit Facility \| Ninety-Nine Restaurants, LLC \| Letter of credit
Line of Credit Facility [Line Items]
Aggregate borrowing capacity		$ 5,000,000.0
99 Revolver Credit Facility \| Ninety-Nine Restaurants, LLC \| Swingline debt \| Revolver Note \| Fifth Third Bank
Line of Credit Facility [Line Items]
Aggregate borrowing capacity		2,500,000.0
99 Term Loan \| Notes payable to banks
Line of Credit Facility [Line Items]
Amount available to borrow						15,000,000
Borrowings outstanding						36,100,000	0
99 Term Loan \| Ninety-Nine Restaurants, LLC
Line of Credit Facility [Line Items]
Face amount of loan		37,000,000.0
Proceeds from debt		36,200,000
DLOC Loan
Line of Credit Facility [Line Items]
Amount available to borrow						10,000,000
Borrowings outstanding						0
DLOC Loan \| Ninety-Nine Restaurants, LLC \| Line of Credit Loan
Line of Credit Facility [Line Items]
Face amount of loan		$ 10,000,000.0
Margin Loan Agreement \| Revolver Note
Line of Credit Facility [Line Items]
Aggregate borrowing capacity			$ 300,000,000
Amount available to borrow						300,000,000
Shares, pledged as collateral			25,000,000.0
Borrowings outstanding						0
Margin Loan Agreement \| Revolver Note \| Subsequent Event
Line of Credit Facility [Line Items]
Borrowings outstanding	$ 150,000,000
Interstate Credit Agreement \| Notes payable to banks
Line of Credit Facility [Line Items]
Borrowings outstanding						11,700,000	12,100,000
Interstate Credit Agreement \| NV Brasada
Line of Credit Facility [Line Items]
Aggregate borrowing capacity					$ 17,000,000
Interstate Credit Agreement \| NV Brasada \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate					2.25%
Interstate Credit Agreement \| NV Brasada \| Line of Credit Loan
Line of Credit Facility [Line Items]
Aggregate borrowing capacity					$ 1,500,000.0
Amount available to borrow						$ 4,400,000
Borrowings outstanding									$ 3,600,000
Interstate Credit Agreement \| NV Brasada \| Acquisition Loan
Line of Credit Facility [Line Items]
Face amount of loan					12,500,000.0
Interstate Credit Agreement \| NV Brasada \| Acquisition Loan, A Note
Line of Credit Facility [Line Items]
Face amount of loan					$ 6,250,000.00
Interest rate incurred					4.51%
Interstate Credit Agreement \| NV Brasada \| Acquisition Loan, B Note
Line of Credit Facility [Line Items]
Face amount of loan					$ 6,250,000.00
Interstate Credit Agreement \| NV Brasada \| Acquisition Loan, B Note \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate					2.25%
Interstate Credit Agreement \| NV Brasada \| Development Loan
Line of Credit Facility [Line Items]
Face amount of loan					$ 3,000,000.0
Interstate Credit Agreement \| NV Brasada \| Notes payable to banks
Line of Credit Facility [Line Items]
Variable rate interest						4.55%
Corporate Revolver Note \| Revolver Note
Line of Credit Facility [Line Items]
Aggregate borrowing capacity				$ 100,000,000.0
Amount available to borrow						$ 100,000,000
Borrowings outstanding						$ 0	$ 0
Maximum incremental borrowing under credit facility				$ 1,000,000.0
Term of revolver note				5 years
Term of automatic extension				5 years
Corporate Revolver Note \| Revolver Note \| Subsequent Event
Line of Credit Facility [Line Items]
Proceeds from Revolver	$ 100,000,000
Corporate Revolver Note \| Revolver Note \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate				4.50%

Notes Payable - Gross Principal Maturities Based Upon Contractual Maturities of Notes Payable (Details) $ in Millions	Dec. 31, 2018 USD ($)
Debt Disclosure [Abstract]
2019	$ 5.9
2020	6.6
2021	5.8
2022	5.8
2023	16.1
Thereafter	9.1
Total Long Term Debt	$ 49.3

Income Taxes - Income tax components (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Current	$ 24.4	$ (28.2)	$ 6.2
Deferred	(11.3)	11.6	(16.6)
Income tax (benefit) expense	$ 13.1	$ (16.6)	$ (10.4)

Income Taxes - Reconciliation of Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	35.00%	35.00%
State income taxes, net of federal benefit	3.50%	3.10%	4.40%
Tax credits	(27.60%)	8.60%	(66.10%)
Valuation allowance	0.00%	5.90%	0.00%
Non-deductible expenses and other, net	4.20%	(5.00%)	9.10%
Non-deductible executive compensation	82.10%	0.00%	0.00%
Dividends received deduction	(41.40%)	(0.00%)	(0.00%)
Noncontrolling interests	43.20%	(7.60%)	(2.30%)
Tax Reform	(3.80%)	(9.90%)	0.00%
Other	0.00%	(3.70%)	0.00%
Effective tax rate excluding equity investments	81.20%	26.40%	(19.90%)
Equity investments	(10.80%)	(4.40%)	(184.40%)
Effective tax rate	70.40%	22.00%	(204.30%)

Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Employee benefit accruals	$ 0.3	$ 0.2
Net operating loss carryforwards	5.4	10.9
Equity investments	8.9	14.6
Investment securities	2.8	3.0
Partnerships	11.1	0.0
Accrued liabilities	1.8	3.3
Tax credit carryforwards	0.0	1.1
Other	0.5	0.0
Total gross deferred tax asset	30.8	33.1
Less: valuation allowance	0.0	0.7
Total deferred tax asset	30.8	32.4
Deferred tax liabilities:
Amortization of goodwill and intangible assets	(10.9)	(16.8)
Partnerships	0.0	(4.4)
Depreciation	(0.2)	(0.6)
Other	(2.8)	0.0
Total deferred tax liability	(13.9)	(21.8)
Net deferred tax asset	$ 16.9	$ 10.6

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate	70.40%	22.00%	(204.30%)
Net deferred tax assets	$ 16,900,000	$ 10,600,000
Decrease in deferred tax assets for equity investments	5,700,000
Change in deferred income taxes	15,500,000
Decrease in deferred tax liability, intangible assets	5,900,000
Operating loss carryforwards	18,700,000	36,200,000
Tax credit carryforwards	$ 0	1,100,000
Unrecognized tax benefits		$ 0	$ 0

Commitments and Contingencies - Narrative (Details)		12 Months Ended
Commitments and Contingencies - Narrative (Details)	Jul. 13, 2016	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Jan. 13, 2017 case
Loss Contingencies [Line Items]
Accrual for legal proceedings		$ 500,000	$ 200,000
Operating lease, rent expense		61,500,000	61,900,000	$ 64,500,000
Charges on termination of lease		$ 0	0
Max & Erma's
Loss Contingencies [Line Items]
Charges on termination of lease			$ 6,900,000
Minimum
Loss Contingencies [Line Items]
Operating leases range in terms		1 year
Maximum
Loss Contingencies [Line Items]
Operating leases range in terms		30 years
Otis v. O’Charley’s, LLC \| Pending Litigation
Loss Contingencies [Line Items]
Time performing non-tipped duties (more than)	20.00%
Circuit Courts of Appeals Cases \| Pending Litigation
Loss Contingencies [Line Items]
Number of cases granted certiorari \| case					3

Commitments and Contingencies - Future Minimum Operating Lease Commitments (Details) $ in Millions	Dec. 31, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 62.0
2020	57.7
2021	51.3
2022	40.7
2023	34.1
Thereafter	133.2
Total future minimum operating lease payments	$ 379.0

Commitments and Contingencies - Purchase Obligations (Details) $ in Millions	Dec. 31, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 194.4
2020	80.9
2021	46.7
2022	8.9
2023	3.4
Thereafter	7.3
Total purchase commitments	$ 341.6

Discontinued Operations - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Jun. 06, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Borrowings, net of debt issuance costs		$ 33.9	$ 84.4	$ 76.7
Debt service payments		$ 124.1	35.8	44.7
OneDigital \| Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest after sale (as a percent)	0.00%
Other acquisitions/disposals of businesses, net of cash acquired			25.9	48.3
Borrowings, net of debt issuance costs			23.0	38.0
Debt service payments			$ 3.0	$ 7.5

Discontinued Operations - Reconciliation of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other income (expense):
Net earnings from discontinued operations	$ 0.0	$ 147.7	$ 2.0
OneDigital \| Disposed of by Sale
Revenues:
Other operating revenue		80.9	148.3
Total operating revenues		80.9	148.3
Operating expenses:
Personnel costs		56.9	94.8
Depreciation and amortization		8.8	18.1
Other operating expenses		11.3	27.1
Total operating expenses		77.0	140.0
Operating income		3.9	8.3
Other income (expense):
Interest expense		(2.9)	(4.8)
Realized gain		276.0	0.0
Total other income		273.1
Total other expense			(4.8)
Earnings from continuing operations before income taxes		277.0	3.5
Income tax expense		129.3	1.5
Net earnings from discontinued operations		147.7	2.0
Cash flow from discontinued operations data:
Net cash provided by operations		17.3	27.6
Net cash used in investing activities		$ (27.3)	$ (51.9)

Employee Benefit Plans (Details) - USD ($)		12 Months Ended
Employee Benefit Plans (Details) - USD ($)	May 16, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued (in shares)		1,000,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period		3 years
Allocated stock-based compensation expense		$ 2,000,000	$ 200,000	$ 0
Unrecognized compensation cost related to stock awards		$ 10,000,000
Unrecognized compensation cost related to stock awards, recognition period		1 year 9 months 15 days
The Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		3,900,000
The Omnibus Plan \| IPO \| Common Stock \| Ceridian
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued (in shares)	991,906
The Omnibus Plan \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)		575,655
Fair value of restricted stock granted		$ 6,900,000	5,300,000
FNF Omnibus Incentive Plan \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated stock-based compensation expense			$ 4,200,000	$ 4,700,000
Unrecognized compensation cost related to stock awards		$ 0

Employee Benefit Plans - Restricted Stock Transactions Under the Omnibus Plan (Details) - The Omnibus Plan - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance, End of period (in shares)	575,655
CNNE
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance, Beginning of period (in shares)	287,059	0
Granted (in shares)	384,281	287,059
Vested (in shares)	(95,685)
Balance, End of period (in shares)	575,655	287,059
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Beginning of period (in usd per share)	$ 18.45	$ 0.00
Weighted Average Grant Date Fair Value, Granted (in usd per share)	17.98	18.45
Weighted Average Grant Date Fair Value, Vested (in usd per share)	18.45
Weighted Average Grant Date Fair Value, End of period (in usd per share)	$ 18.13	$ 18.45

Concentration of Risk (Details)	12 Months Ended
Concentration of Risk (Details)	Dec. 31, 2018 distributor
Risks and Uncertainties [Abstract]
Number of distributors	5

Segment Information - Summary of Financial Information Concerning Reportable Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues from external customers	$ 1,205.4	$ 1,169.5	$ 1,178.4
Interest and investment income, including realized gains and losses	173.1	10.2	12.6
Total revenues and other income	1,378.5	1,179.7	1,191.0
Depreciation and amortization	61.3	49.3	44.7
Interest expense	(4.7)	(7.0)	(5.2)
Earnings (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	18.6	(75.2)	5.2
Income tax expense (benefit)	13.1	(16.6)	(10.4)
Earnings (loss) from continuing operations before equity in (losses) earnings of unconsolidated affiliates	5.5	(58.6)	15.6
Equity in earnings of unconsolidated affiliates	(16.1)	3.4	(29.5)
Loss from continuing operations	(10.6)	(55.2)	(13.9)
Assets	1,459.5	1,487.2	1,473.3
Goodwill	164.8	202.7	103.1
Ceridian Elimination
Segment Reporting Information [Line Items]
Revenues from external customers	(746.4)	(670.8)	(623.4)
Interest and investment income, including realized gains and losses	0.0	0.0	0.0
Total revenues and other income	(746.4)	(670.8)	(623.4)
Depreciation and amortization	(56.6)	(53.8)	(53.2)
Interest expense	83.2	87.1	87.4
Earnings (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	30.4	54.1	98.6
Income tax expense (benefit)	(7.7)	49.6	(6.7)
Earnings (loss) from continuing operations before equity in (losses) earnings of unconsolidated affiliates	38.1	4.5	105.3
Equity in earnings of unconsolidated affiliates	(20.5)	1.9	(29.1)
Loss from continuing operations	17.6	6.4	76.2
Assets	(5,154.4)	(6,729.9)	(6,426.5)
Goodwill	(1,927.4)	(1,961.0)	(1,933.1)
Restaurant Group
Segment Reporting Information [Line Items]
Revenues from external customers	1,117.8
Restaurant Group \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	1,117.8	1,129.0	1,157.6
Interest and investment income, including realized gains and losses	(2.1)	0.0	(2.5)
Total revenues and other income	1,115.7	1,129.0	1,155.1
Depreciation and amortization	44.9	43.6	42.4
Interest expense	(16.0)	(6.6)	4.7
Earnings (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(96.8)	(36.1)	0.8
Income tax expense (benefit)	0.6	0.7	0.4
Earnings (loss) from continuing operations before equity in (losses) earnings of unconsolidated affiliates	(97.4)	(36.8)	0.4
Equity in earnings of unconsolidated affiliates	0.1	0.1	0.0
Loss from continuing operations	(97.3)	(36.7)	0.4
Assets	432.3	501.0	497.2
Goodwill	76.4	103.1	103.1
T-System \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	57.9	12.9
Interest and investment income, including realized gains and losses	0.0	0.0
Total revenues and other income	57.9	12.9
Depreciation and amortization	15.0	3.1
Interest expense	(4.3)	0.0
Earnings (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(8.3)	(0.9)
Income tax expense (benefit)	(1.9)	(2.4)
Earnings (loss) from continuing operations before equity in (losses) earnings of unconsolidated affiliates	(6.4)	1.5
Equity in earnings of unconsolidated affiliates	0.0	0.0
Loss from continuing operations	(6.4)	1.5
Assets	206.3	221.2
Goodwill	88.4	99.6	0.0
Ceridian \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	746.4	670.8	623.4
Interest and investment income, including realized gains and losses	0.0	0.0	0.0
Total revenues and other income	746.4	670.8	623.4
Depreciation and amortization	56.6	53.8	53.2
Interest expense	(83.2)	(87.1)	(87.4)
Earnings (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	(30.4)	(54.1)	(98.6)
Income tax expense (benefit)	7.7	(49.6)	6.7
Earnings (loss) from continuing operations before equity in (losses) earnings of unconsolidated affiliates	(38.1)	(4.5)	(105.3)
Equity in earnings of unconsolidated affiliates	0.0	0.0	0.0
Loss from continuing operations	(38.1)	(4.5)	(105.3)
Assets	5,154.4	6,729.9	6,426.5
Goodwill	1,927.4	1,961.0	1,933.1
Corporate and Other \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	29.7	27.6	20.8
Interest and investment income, including realized gains and losses	175.2	10.2	15.1
Total revenues and other income	204.9	37.8	35.9
Depreciation and amortization	1.4	2.6	2.3
Interest expense	15.6	(0.4)	0.5
Earnings (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated affiliates	123.7	(38.2)	4.4
Income tax expense (benefit)	14.4	(14.9)	(10.8)
Earnings (loss) from continuing operations before equity in (losses) earnings of unconsolidated affiliates	109.3	(23.3)	15.2
Equity in earnings of unconsolidated affiliates	4.3	1.4	(0.4)
Loss from continuing operations	113.6	(21.9)	14.8
Assets	820.9	765.0	976.1
Goodwill	0.0	0.0	0.0
Restaurant revenue
Segment Reporting Information [Line Items]
Revenues from external customers	1,117.8	1,129.0	1,157.6
Restaurant revenue \| Ceridian Elimination
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0	0.0
Restaurant revenue \| Restaurant Group
Segment Reporting Information [Line Items]
Revenues from external customers	1,023.0
Restaurant revenue \| Restaurant Group \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	1,117.8	1,129.0	1,157.6
Restaurant revenue \| T-System \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0
Restaurant revenue \| Ceridian \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0	0.0
Restaurant revenue \| Corporate and Other \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0	0.0
Other operating revenue
Segment Reporting Information [Line Items]
Revenues from external customers	87.6	40.5	20.8
Other operating revenue \| Ceridian Elimination
Segment Reporting Information [Line Items]
Revenues from external customers	(746.4)	(670.8)	(623.4)
Other operating revenue \| Restaurant Group \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	0.0	0.0	0.0
Other operating revenue \| T-System \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	57.9	12.9
Other operating revenue \| Ceridian \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	746.4	670.8	623.4
Other operating revenue \| Corporate and Other \| Operating Segments
Segment Reporting Information [Line Items]
Revenues from external customers	$ 29.7	$ 27.6	$ 20.8

Segment Information - Narrative (Details)	12 Months Ended
Segment Information - Narrative (Details)	Dec. 31, 2018 segment sites customer	Oct. 16, 2017
Ceridian
Segment Reporting Information [Line Items]
Ownership interest, equity method investment (as a percent)	23.50%
ABRH
Segment Reporting Information [Line Items]
Ownership interest, controlling interest	65.40%
99 Restaurants
Segment Reporting Information [Line Items]
Ownership interest, controlling interest	88.50%
T-System
Segment Reporting Information [Line Items]
Ownership interest, controlling interest		97.00%
Number of business segments \| segment	2
T-System \| Coding Software & Outsourced Solutions Segment
Segment Reporting Information [Line Items]
Number of sites (more than) \| sites	400
Number of customers (more than) \| customer	75
T-System \| Software Solutions \| Clinical Documentation Segment
Segment Reporting Information [Line Items]
Number of sites (more than) \| sites	450
Number of customers (more than) \| customer	240
T-System \| T-Sheet \| Clinical Documentation Segment
Segment Reporting Information [Line Items]
Number of sites (more than) \| sites	475
Number of customers (more than) \| customer	200

Related Party Transactions (Details)			12 Months Ended
Related Party Transactions (Details)	Nov. 16, 2017 USD ($) shares	Jan. 25, 2016 USD ($) restaurant	Dec. 31, 2018 USD ($) restaurant	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Nov. 17, 2017 USD ($)
Related Party Transaction [Line Items]
Payables to related party, amounts forgiven				$ 4,500,000	$ 9,500,000
Number of restaurants leased in related party transaction \| restaurant			21
Lease liability			$ 18,200,000.0
Revolving Credit Facility \| Corporate Revolver Note
Related Party Transaction [Line Items]
Revolver maximum borrowing capacity						$ 100,000,000.0
Line of credit balance			0	0
Subsidiaries of FNF
Related Party Transaction [Line Items]
Aggregate amount contributed by certain subsidiaries of FNF	$ 100,000,000
Number of shares exchanged (in shares) \| shares	5,706,134
FNF \| Corporate overhead and management services
Related Party Transaction [Line Items]
Expenses from related party transactions			$ 1,300,000	$ 9,500,000	$ 9,300,000
GRG \| Sale of restaurant concept
Related Party Transaction [Line Items]
Related party transaction amount		$ 6,500,000
Number of restaurants sold in related party transaction \| restaurant		26
Number of restaurants leased in related party transaction \| restaurant		25

Recent Accounting Pronouncements Recent Accounting (Details) - USD ($) $ in Millions		12 Months Ended
	Apr. 01, 2018	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Retained Earnings \| ASU 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification adjustment for stranded tax effects, deferred taxes, Tax Reform Act	$ 16.1	$ 16.1
ASU 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption of new accounting policy			$ 1.9
ASU 2014-09 \| Retained Earnings \| T-System \| Adjustments for error corrections to prior interim periods of current year
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to cumulative effect of adoption of new accounting principle			(2.4)
ASU 2014-09 \| Retained Earnings \| Difference between Revenue Guidance in Effect before and after Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adoption of new accounting policy			$ 1.9	$ 4.3

Supplementary Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash paid during the year:
Interest	$ 3.3	$ 8.7	$ 8.7
Income taxes	0.2	117.7	4.0
Non-cash investing activities:
Acquisition of Ceridian HCM common shares through non-cash private placement investment - see Note A	(33.4)	0.0	0.0
Non-cash distribution of LifeWorks from Ceridian - see Note A	32.5	0.0	0.0
Liabilities and noncontrolling interests assumed in connection with acquisitions (1):
Fair value of net assets acquired	0.0	252.5	92.0
Less: Total cash purchase price	0.0	222.7	75.8
Liabilities and noncontrolling interests assumed	0.0	29.8	16.2
Debt extinguished through the sale of OneDigital	$ 0.0	$ 151.1	$ 0.0

Revenue Recognition (Details) - ASU 2014-09 - Difference between Revenue Guidance in Effect before and after Topic 606 - USD ($) $ in Millions	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment to opening equity	$ 1.9
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment to opening equity	$ 1.9	$ 4.3

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 1,205.4	$ 1,169.5	$ 1,178.4
Restaurant revenue
Disaggregation of Revenue [Line Items]
Total operating revenues	1,117.8	$ 1,129.0	$ 1,157.6
Restaurant Group
Disaggregation of Revenue [Line Items]
Total operating revenues	1,117.8
Restaurant Group \| Restaurant revenue
Disaggregation of Revenue [Line Items]
Total operating revenues	1,023.0
Restaurant Group \| Bakery sales
Disaggregation of Revenue [Line Items]
Total operating revenues	88.8
Restaurant Group \| Franchise and other
Disaggregation of Revenue [Line Items]
Total operating revenues	6.0
T-System \| T-System, point-in-time
Disaggregation of Revenue [Line Items]
Total operating revenues	24.5
T-System \| T-System, over time
Disaggregation of Revenue [Line Items]
Total operating revenues	33.4
Corporate and Other \| Real estate and resort
Disaggregation of Revenue [Line Items]
Total operating revenues	23.2
Corporate and Other \| Other
Disaggregation of Revenue [Line Items]
Total operating revenues	6.5
Other operating revenue
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 87.6

Revenue Recognition - Contract Balances (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($)
Revenue from Contract with Customer [Abstract]
Trade receivables, billed	$ 40.3
Unbilled accounts receivable, current	9.5
Unbilled accounts receivable, long term	10.6
Deferred revenue (contract liabilities)	31.7
Revenue recognized	$ 20.7

Revenue Recognition - Remaining Performance Obligation (Details) $ in Millions	Dec. 31, 2018 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 14.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, revenue expected to be recognized, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	28.00%
Remaining performance obligation, revenue expected to be recognized, period	2 years