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BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. (Tables)

12 Months Ended

Dec. 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 previously described, on consolidated statements of income for 2017 and 2016 follows:

	2017																2016
(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	$	4,287.7			$	—			$	8.1			$	4,295.8			$	3,728.7			$	—			$	6.3			$	3,735.0
Administrative, distribution, and servicing fees(1)	505.3				—				53.8				559.1				494.2				—				55.6				549.8
Net revenues	4,793.0				—				61.9				4,854.9				4,222.9				—				61.9				4,284.8
Operating expenses
Compensation and related costs	1,664.9				—				—				1,664.9				1,494.0				—				—				1,494.0
Distribution and servicing costs	147.0				107.4				8.2				262.6				141.7				85.4				6.3				233.4
Advertising and promotion	92.0				—				.4				92.4				79.9				—				.3				80.2
Product-related costs	—				93.2				52.8				146.0				—				84.8				54.9				139.7
Technology, occupancy, and facility costs(2)	338.5				12.0				—				350.5				306.2				13.7				(.1		)		319.8
General, administrative, and other	491.8				(212.6		)		.5				279.7				401.5				(183.9		)		.5				218.1
Nonrecurring net charge (recoveries) related to Dell appraisal rights matter	(50.0		)		—				—				(50.0		)		66.2				—				—				66.2
Total operating expenses	2,684.2				—				61.9				2,746.1				2,489.5				—				61.9				2,551.4
Net operating income	$	2,108.8			$	—			$	—			$	2,108.8			$	1,733.4			$	—			$	—			$	1,733.4

⁽¹⁾ The “As previously reported” column aggregates the administrative fees and distribution and servicing fees lines presented in the income statement in prior years.

⁽²⁾ The “As 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 years.

Assumptions used in option pricing model and grant date fair value of options

We used the following weighted-average inputs to the Black-Scholes option-pricing model to estimate the fair value of each option granted in 2016 to certain non-employee directors.

Grant-date fair value per option awarded	$	10.62
Assumptions used:
Expected life in years	6.8
Expected volatility	20		%
Dividend yield	2.5		%
Risk-free interest rate	1.6		%

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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.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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