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THE COMPANY AND BASIS OF PREPARATION. (Tables) | 3 Months Ended
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Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of impact of ASC 606 and other income statement reclassifications on condensed consolidated statements of income | The impact of ASC 606 and other income statement reclassifications, as described above, on the condensed consolidated statements of income for each quarter of 2017 follows:
| Three months ended 3/31/2017 |  | Three months ended 6/30/2017
(in millions) | As previously reported |  | Change in Presentation |  | Impact of ASC 606 |  | As reported herein |  | As previously reported |  | Change in Presentation |  | Impact of ASC 606 |  | Recast
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment advisory fees | $ | 991.1 |  |  | $ | — |  |  | $ | 1.6 |  |  | $ | 992.7 |  |  | $ | 1,043.9 |  |  | $ | — |  |  | $ | 2.1 |  |  | $ | 1,046.0 |
Administrative, distribution, and servicing fees(1) | 122.5 |  | — |  | — |  | — |  | 17.4 |  | — |  | 139.9 |  |  | 127.7 |  | — |  | — |  |  | 12.3 |  | — |  | 140.0 |
Net revenues | 1,113.6 |  |  | — |  |  | 19.0 |  |  | 1,132.6 |  |  | 1,171.6 |  |  | — |  |  | 14.4 |  |  | 1,186.0 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation and related costs | 397.4 |  |  | — |  |  | — |  |  | 397.4 |  |  | 403.8 |  |  | — |  |  | — |  |  | 403.8 |
Distribution and servicing | 35.2 |  |  | 22.9 |  |  | 1.7 |  |  | 59.8 |  |  | 36.4 |  |  | 26.4 |  |  | 2.0 |  |  | 64.8 |
Advertising and promotion | 25.6 |  |  | — |  |  | .1 |  |  | 25.7 |  |  | 18.6 |  |  | — |  |  | .1 |  |  | 18.7 |
Product-related costs | — |  |  | 21.4 |  |  | 17.2 |  |  | 38.6 |  |  | — |  |  | 22.4 |  |  | 12.0 |  |  | 34.4 |
Technology, occupancy, and facility costs(2) | 81.0 |  | — |  | 1.8 |  |  | — |  | — |  | 82.8 |  |  | 83.1 |  | — |  | 2.5 |  |  | — |  | — |  | 85.6 |
General, administrative, and other | 102.7 |  |  | (46.1 | ) |  | — |  |  | 56.6 |  |  | 122.1 |  |  | (51.3 | ) |  | .3 |  |  | 71.1 |
Nonrecurring insurance recoveries related to Dell appraisal rights matter | (50.0 | ) |  | — |  |  | — |  |  | (50.0 | ) |  | — |  |  | — |  |  | — |  |  | — |
Total operating expenses | 591.9 |  |  | — |  |  | 19.0 |  |  | 610.9 |  |  | 664.0 |  |  | — |  |  | 14.4 |  |  | 678.4 |
Net operating income | $ | 521.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 521.7 |  |  | $ | 507.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 507.6 |
| Three months ended 9/30/2017 |  | Three months ended 12/31/2017
(in millions) | As previously reported |  | Change in Presentation |  | Impact of ASC 606 |  | Recast |  | As previously reported |  | Change in Presentation |  | Impact of ASC 606 |  | Recast
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment advisory fees | $ | 1,096.7 |  |  | $ | — |  |  | $ | 2.2 |  |  | $ | 1,098.9 |  |  | $ | 1,156.0 |  |  | $ | — |  |  | $ | 2.2 |  |  | $ | 1,158.2 |
Administrative, distribution, and servicing fees(1) | 125.0 |  | — |  | — |  |  | 14.8 |  | — |  | 139.8 |  |  | 130.1 |  | — |  | — |  |  | 9.3 |  | — |  | 139.4 |
Net revenues | 1,221.7 |  |  | — |  |  | 17.0 |  |  | 1,238.7 |  |  | 1,286.1 |  |  | — |  |  | 11.5 |  |  | 1,297.6 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation and related costs | 417.4 |  |  | — |  |  | — |  |  | 417.4 |  |  | 446.3 |  |  | — |  |  | — |  |  | 446.3 |
Distribution and servicing | 37.4 |  |  | 27.9 |  |  | 2.1 |  |  | 67.4 |  |  | 38.0 |  |  | 30.2 |  |  | 2.4 |  |  | 70.6 |
Advertising and promotion | 14.0 |  |  | — |  |  | — |  |  | 14.0 |  |  | 33.8 |  |  | — |  |  | .2 |  |  | 34.0 |
Product-related costs | — |  |  | 23.4 |  |  | 14.5 |  |  | 37.9 |  |  | — |  |  | 26.0 |  |  | 9.1 |  |  | 35.1 |
Technology, occupancy, and facility costs(2) | 84.0 |  | — |  | 2.2 |  |  | .1 |  | — |  | 86.3 |  |  | 90.4 |  | — |  | 5.5 |  |  | (.1 | ) | — |  | 95.8 |
General, administrative, and other | 120.4 |  |  | (53.5 | ) |  | .3 |  |  | 67.2 |  |  | 146.6 |  |  | (61.7 | ) |  | (.1 | ) |  | 84.8 |
Total operating expenses | 673.2 |  |  | — |  |  | 17.0 |  |  | 690.2 |  |  | 755.1 |  |  | — |  |  | 11.5 |  |  | 766.6 |
Net operating income | $ | 548.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 548.5 |  |  | $ | 531.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 531.0 |
(1) The previously reported column aggregates the administrative fees and distribution and servicing fees lines presented in the income statement in prior year. (2) The previously reported column aggregates the depreciation and amortization of property and equipment and occupancy and facility costs lines presented in the income statement in prior year.

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- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305 + Details
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