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Pay vs Performance Disclosure
$ / shares in Units, pure in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]

Pay Versus Performance

 

The following table summarizes the compensation actually paid to our principal executive officer (PEO) and average compensation paid to our other NEOs for the past three years. These are presented with respect to each year’s NEOs as reported in the 2023, 2022, and 2021 proxy statements. Fair value amounts below are computed in a manner consistent with the fair value methodology used to account for share-based payments in our financial statements under generally accepted accounting principles. For any awards that are subject to performance conditions, the change in fair value is calculated based upon the probable outcome of such conditions as of the last day of the applicable year. The change in fair value in the tables below compare the fair value at the end of the applicable year with the prior year-end fair value. Total shareholder return has been calculated in a manner consistent with Item 402(v) of Regulation S-K.

 

         AVERAGE                
         SUMMARY   AVERAGE  VALUE OF INITIAL FIXED $100       
   SUMMARY     COMPENSATION  COMPENSATION  INVESTMENT BASED ON:       
   COMPENSATION  COMPENSATION  TABLE TOTAL  ACTUALLY PAID  TOTAL  PEER GROUP  NET  NET 
   TABLE TOTAL  ACTUALLY PAID  FOR NON-PEO  TO NON-PEO  SHAREHOLDER  SHAREHOLDER  INCOME  REVENUEe 
YEAR  FOR PEO  TO PEO  NEOs  NEOs  RETURN  RETURNd  (in millions)  (in millions) 
2022a $13,838,613  $  2,999,756  $  8,430,654  $   5,616,935c  $  99.67  $129.13  $1,557.9  $6,488.4 
2021b  $17,127,330  $23,404,280  $  9,119,220  $10,768,644  $172.50  $175.40  $3,082.9  $7,671.9 
2020c $15,337,274  $19,367,486  $10,969,887  $13,917,124  $127.89  $118.99  $2,372.7  $6,206.7 

 

aThe adjustments to the summary compensation table totals to arrive to compensation actually paid in 2022 are outlined below. No awards were modified in 2022. These valuations assume a year-end share price of $109.06 and average vest share price of $126.58. During this period Mr. Sharps served as the PEO and Ms. Dardis, Messrs. August, Thomson, and Veiel served as the Non-PEO NEOs.

 

       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2022  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2023 Proxy                 $13,838,613                $8,430,654 
Subtract Grant Date Fair Value of LTI Awards Granted in 2022  $(5,400,156)  $(1,604,741)
Add Year-End Fair Value of LTI Awards Granted and Unvested in 2022  $4,854,042   $1,442,455 
Add Change in Fair Value of Prior-Year Grants Unvested and Outstanding  $(8,444,026)  $(1,999,648)
Add Change in Fair Value of LTI Awards Vested as of Vesting Date in 2022  $(2,138,845)  $(749,289)
Add Dividend Equivalents Paid in 2022  $290,128   $97,504 
Compensation Actually Paid in 2022  $2,999,756   $5,616,935 

 

bThe adjustments to the 2022 summary compensation table totals to arrive to compensation actually paid in 2021 are outlined below. No awards were modified in 2021. These valuations assume a year-end share price of $196.64 and an average vest share price of $190.44. During this period Mr. Stromberg served as the PEO and Ms. Dardis, and former CFO Ms. Dufétel, and Messrs. Sharps, Thomson, and Veiel served as the Non-PEO NEOs.

 

       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2021  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2022 Proxy                 $17,127,330                  $9,119,220 
Subtract Grant Date Fair Value of LTI Awards Granted in 2021  $(6,600,390)  $(3,020,250)
Add Year-End Fair Value of LTI Awards Granted and Unvested in 2021  $6,355,405   $2,908,148 
Add Change in Fair Value of Prior-Year Grants Unvested and Outstanding  $4,807,722   $1,693,273 
Add Change in Fair Value of LTI Awards Vested as of Vesting Date in 2021  $1,110,196   $958,513 
Subtract Prior-Year LTI Awards Forfeited in 2021  $—   $(1,223,322)
Add Dividend Equivalents Paid in 2021  $604,017   $333,062 
Compensation Actually Paid in 2021  $23,404,280   $10,768,644 

 

cThe adjustments to the 2021 summary compensation table totals to arrive to compensation actually paid in 2020 are outlined below. No awards were modified in 2020. These valuations assume a year-end share price of $151.39 and average vest share price of $139.84. During this period Mr. Stromberg served as the PEO and Ms. Dufétel, and Messrs. Sharps, Alderson and Veiel served as the Non-PEO NEOs.

 

       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2020  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2021 Proxy               $15,337,274               $10,969,887 
Subtract Grant Date Fair Value of LTI Awards Granted in 2020  $(5,900,108)  $(3,512,648)
Add Year-End Fair Value of LTI Awards Granted and Unvested in 2020  $5,831,543   $3,471,827 
Add Change in Fair Value of Prior-Year Grants Unvested and Outstanding  $3,066,315   $1,956,299 
Add Change in Fair Value of LTI Awards Vested as of Vesting Date in 2020  $504,223   $718,559 
Add Dividend Equivalents Paid in 2020  $528,239   $313,200 
Compensation Actually Paid in 2020  $19,367,486   $13,917,124 

 

dOur peer group total stockholder return is calculated with respect to the NASDAQ Asset Manager Index, which is the same peer group as reported pursuant to Item 201(e) of Regulation S-K.

eIn no particular order, the following table outlines what we believe to be our NEO’s key performance measures. These measures are highlighted on pages 52 and 53. We believe net revenue to be the most significant measure in determining the compensation of our NEOs.

   
Company Selected Measure Name net revenue    
Peer Group Issuers, Footnote [Text Block]
dOur peer group total stockholder return is calculated with respect to the NASDAQ Asset Manager Index, which is the same peer group as reported pursuant to Item 201(e) of Regulation S-K.

   
PEO Total Compensation Amount $ 13,838,613 $ 17,127,330 $ 15,337,274
PEO Actually Paid Compensation Amount $ 2,999,756 23,404,280 19,367,486
Adjustment To PEO Compensation, Footnote [Text Block]
aThe adjustments to the summary compensation table totals to arrive to compensation actually paid in 2022 are outlined below. No awards were modified in 2022. These valuations assume a year-end share price of $109.06 and average vest share price of $126.58. During this period Mr. Sharps served as the PEO and Ms. Dardis, Messrs. August, Thomson, and Veiel served as the Non-PEO NEOs.

 

       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2022  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2023 Proxy                 $13,838,613                $8,430,654 
Subtract Grant Date Fair Value of LTI Awards Granted in 2022  $(5,400,156)  $(1,604,741)
Add Year-End Fair Value of LTI Awards Granted and Unvested in 2022  $4,854,042   $1,442,455 
Add Change in Fair Value of Prior-Year Grants Unvested and Outstanding  $(8,444,026)  $(1,999,648)
Add Change in Fair Value of LTI Awards Vested as of Vesting Date in 2022  $(2,138,845)  $(749,289)
Add Dividend Equivalents Paid in 2022  $290,128   $97,504 
Compensation Actually Paid in 2022  $2,999,756   $5,616,935 

 

bThe adjustments to the 2022 summary compensation table totals to arrive to compensation actually paid in 2021 are outlined below. No awards were modified in 2021. These valuations assume a year-end share price of $196.64 and an average vest share price of $190.44. During this period Mr. Stromberg served as the PEO and Ms. Dardis, and former CFO Ms. Dufétel, and Messrs. Sharps, Thomson, and Veiel served as the Non-PEO NEOs.

 

       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2021  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2022 Proxy                 $17,127,330                  $9,119,220 
Subtract Grant Date Fair Value of LTI Awards Granted in 2021  $(6,600,390)  $(3,020,250)
Add Year-End Fair Value of LTI Awards Granted and Unvested in 2021  $6,355,405   $2,908,148 
Add Change in Fair Value of Prior-Year Grants Unvested and Outstanding  $4,807,722   $1,693,273 
Add Change in Fair Value of LTI Awards Vested as of Vesting Date in 2021  $1,110,196   $958,513 
Subtract Prior-Year LTI Awards Forfeited in 2021  $—   $(1,223,322)
Add Dividend Equivalents Paid in 2021  $604,017   $333,062 
Compensation Actually Paid in 2021  $23,404,280   $10,768,644 

 

cThe adjustments to the 2021 summary compensation table totals to arrive to compensation actually paid in 2020 are outlined below. No awards were modified in 2020. These valuations assume a year-end share price of $151.39 and average vest share price of $139.84. During this period Mr. Stromberg served as the PEO and Ms. Dufétel, and Messrs. Sharps, Alderson and Veiel served as the Non-PEO NEOs.

 

       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2020  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2021 Proxy               $15,337,274               $10,969,887 
Subtract Grant Date Fair Value of LTI Awards Granted in 2020  $(5,900,108)  $(3,512,648)
Add Year-End Fair Value of LTI Awards Granted and Unvested in 2020  $5,831,543   $3,471,827 
Add Change in Fair Value of Prior-Year Grants Unvested and Outstanding  $3,066,315   $1,956,299 
Add Change in Fair Value of LTI Awards Vested as of Vesting Date in 2020  $504,223   $718,559 
Add Dividend Equivalents Paid in 2020  $528,239   $313,200 
Compensation Actually Paid in 2020  $19,367,486   $13,917,124 

 

    
Non-PEO NEO Average Total Compensation Amount $ 8,430,654 9,119,220 10,969,887
Non-PEO NEO Average Compensation Actually Paid Amount $ 5,616,935 10,768,644 13,917,124
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
aThe adjustments to the summary compensation table totals to arrive to compensation actually paid in 2022 are outlined below. No awards were modified in 2022. These valuations assume a year-end share price of $109.06 and average vest share price of $126.58. During this period Mr. Sharps served as the PEO and Ms. Dardis, Messrs. August, Thomson, and Veiel served as the Non-PEO NEOs.

 

       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2022  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2023 Proxy                 $13,838,613                $8,430,654 
Subtract Grant Date Fair Value of LTI Awards Granted in 2022  $(5,400,156)  $(1,604,741)
Add Year-End Fair Value of LTI Awards Granted and Unvested in 2022  $4,854,042   $1,442,455 
Add Change in Fair Value of Prior-Year Grants Unvested and Outstanding  $(8,444,026)  $(1,999,648)
Add Change in Fair Value of LTI Awards Vested as of Vesting Date in 2022  $(2,138,845)  $(749,289)
Add Dividend Equivalents Paid in 2022  $290,128   $97,504 
Compensation Actually Paid in 2022  $2,999,756   $5,616,935 

 

bThe adjustments to the 2022 summary compensation table totals to arrive to compensation actually paid in 2021 are outlined below. No awards were modified in 2021. These valuations assume a year-end share price of $196.64 and an average vest share price of $190.44. During this period Mr. Stromberg served as the PEO and Ms. Dardis, and former CFO Ms. Dufétel, and Messrs. Sharps, Thomson, and Veiel served as the Non-PEO NEOs.

 

       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2021  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2022 Proxy                 $17,127,330                  $9,119,220 
Subtract Grant Date Fair Value of LTI Awards Granted in 2021  $(6,600,390)  $(3,020,250)
Add Year-End Fair Value of LTI Awards Granted and Unvested in 2021  $6,355,405   $2,908,148 
Add Change in Fair Value of Prior-Year Grants Unvested and Outstanding  $4,807,722   $1,693,273 
Add Change in Fair Value of LTI Awards Vested as of Vesting Date in 2021  $1,110,196   $958,513 
Subtract Prior-Year LTI Awards Forfeited in 2021  $—   $(1,223,322)
Add Dividend Equivalents Paid in 2021  $604,017   $333,062 
Compensation Actually Paid in 2021  $23,404,280   $10,768,644 

 

cThe adjustments to the 2021 summary compensation table totals to arrive to compensation actually paid in 2020 are outlined below. No awards were modified in 2020. These valuations assume a year-end share price of $151.39 and average vest share price of $139.84. During this period Mr. Stromberg served as the PEO and Ms. Dufétel, and Messrs. Sharps, Alderson and Veiel served as the Non-PEO NEOs.

 

       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2020  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2021 Proxy               $15,337,274               $10,969,887 
Subtract Grant Date Fair Value of LTI Awards Granted in 2020  $(5,900,108)  $(3,512,648)
Add Year-End Fair Value of LTI Awards Granted and Unvested in 2020  $5,831,543   $3,471,827 
Add Change in Fair Value of Prior-Year Grants Unvested and Outstanding  $3,066,315   $1,956,299 
Add Change in Fair Value of LTI Awards Vested as of Vesting Date in 2020  $504,223   $718,559 
Add Dividend Equivalents Paid in 2020  $528,239   $313,200 
Compensation Actually Paid in 2020  $19,367,486   $13,917,124 

 

    
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

Compensation Actually Paid

Versus Total Shareholder Return

 

 

    
Compensation Actually Paid vs. Company Selected Measure [Text Block]

Compensation Actually Paid

Versus Income Measures

 

 

    
Tabular List [Table Text Block]
KEY PERFORMANCE MEASURES
Assets Under Management Investment Performance
Net Income Net Operating Income
Net Revenue Non-GAAP Diluted Earnings per Share
Operating Margin  
    
Total Shareholder Return Amount $ 99.67 172.5 127.89
Peer Group Total Shareholder Return Amount 129.13 175.4 118.99
Net Income (Loss) $ 1,557,900,000 $ 3,082,900,000 $ 2,372,700,000
Company Selected Measure Amount 6,488.4 7,671.9 6,206.7
PEO Name Mr. Sharps Mr. Stromberg Mr. Stromberg
Share Price | $ / shares $ 109.06 $ 196.64 $ 151.39
Vested Share Price | $ / shares $ 126.58 $ 190.44 $ 139.84
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Assets Under Management    
Non-GAAP Measure Description [Text Block]
eIn no particular order, the following table outlines what we believe to be our NEO’s key performance measures. These measures are highlighted on pages 52 and 53. We believe net revenue to be the most significant measure in determining the compensation of our NEOs.
   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Investment Performance    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Net Income    
Measure [Axis]: 4      
Pay vs Performance Disclosure [Table]      
Measure Name Net Operating Income    
Measure [Axis]: 5      
Pay vs Performance Disclosure [Table]      
Measure Name Net Revenue    
Measure [Axis]: 6      
Pay vs Performance Disclosure [Table]      
Measure Name Non-GAAP Diluted Earnings per Share    
Measure [Axis]: 7      
Pay vs Performance Disclosure [Table]      
Measure Name Operating Margin    
PEO [Member] | Grant Date Fair Value Of LTI Awards Granted [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (5,400,156) $ (6,600,390) $ (5,900,108)
PEO [Member] | Year End Fair Value Of LTI Awards Granted And Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 4,854,042   5,831,543
PEO [Member] | Change In Fair Value Of Prior Year Grants Unvested And Outstanding [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (8,444,026) 4,807,722 3,066,315
PEO [Member] | Change In Fair Value Of LTI Awards Vested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (2,138,845) 1,110,196 504,223
PEO [Member] | Dividends Equivalents [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 290,128 604,017 528,239
Non-PEO NEO [Member] | Grant Date Fair Value Of LTI Awards Granted [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,604,741) (3,020,250) (3,512,648)
Non-PEO NEO [Member] | Year End Fair Value Of LTI Awards Granted And Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,442,455 2,908,148 3,471,827
Non-PEO NEO [Member] | Change In Fair Value Of Prior Year Grants Unvested And Outstanding [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,999,648) 1,693,273 1,956,299
Non-PEO NEO [Member] | Change In Fair Value Of LTI Awards Vested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (749,289) 958,513 718,559
Non-PEO NEO [Member] | Dividends Equivalents [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 97,504 333,062 $ 313,200
Non-PEO NEO [Member] | Prior Year LTI Awards Forfeited [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount   (1,223,322)  
Year End Fair Value Of LTI Awards Granted And Unvested [Member] | PEO [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount   $ 6,355,405