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Pay vs Performance Disclosure
$ / shares in Units, pure in Millions
12 Months Ended
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
         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  REVENUEf 
YEAR  FOR PEO  TO PEO  NEOs  NEOs  RETURN  RETURNe  (in millions)1  (in millions) 
2023a $12,841,931  $13,510,536  $  8,077,675  $  8,191,931  $102.91  $174.60  $1,835.7  $6,460.5 
2022b  $13,838,613  $  2,999,756  $  8,430,654  $  5,616,935  $  99.67  $129.13  $1,449.6  $6,488.4 
2021c $17,127,330  $23,404,280  $  9,119,220  $10,768,644  $172.50  $175.40  $3,098.5  $7,671.9 
2020d  $15,337,274  $19,367,486  $10,969,887  $13,917,124  $127.89  $118.99  $2,523.3  $6,206.7 

 

1Figures shown reflect net income before the impact of net income (loss) attributable to redeemable non-controlling interests for the years ended December 31, 2023, 2022, 2021 and 2020 in the amount of $47.0 million, $(108.3) million, $15.6 million and $150.6 million, respectively.

 

aThe adjustments to the Summary Compensation Table totals to arrive to compensation actually paid in 2023 are outlined below. No awards were modified in 2023. These valuations assume a year-end share price of $107.69 and average vest share price of $101.79. 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 12/31/2023  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2024 Proxy                 $12,841,931                $8,077,675 
Subtract Grant Date Fair Value of Stock Awards Granted in 2023  $(5,100,097)  $(1,468,859)
Add Year-End Fair Value of Stock Awards Granted and Unvested in 2023  $5,462,252   $1,573,162 
Add Change in Fair Value of Prior Year Grants Unvested and Outstanding  $(132,516)  $(35,248)
Add Change in Fair Value of Stock Awards (made in prior years) Vested as of Vesting Date in 2023  $(230,044)  $(97,994)
Add Dividend Equivalents Paid in 2023  $669,010   $143,195 
Compensation Actually Paid in 2023  $13,510,536   $8,191,931 

 

bThe 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 Stock Awards Granted in 2022  $(5,400,156)  $(1,604,741)
Add Year-End Fair Value of Stock 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 Stock Awards (made in prior years) 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 

 

cThe adjustments to the 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 Stock Awards Granted in 2021  $(6,600,390)  $(3,020,250)
Add Year-End Fair Value of Stock 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 Stock Awards (made in prior years) 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 

 

dThe adjustments to the 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 Stock Awards Granted in 2020  $(5,900,108)  $(3,512,648)
Add Year-End Fair Value of Stock 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 Stock Awards (made in prior years) 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 

 

eOur 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.

 

fIn no particular order, the following table outlines what we believe to be our NEO's key performance measures. These measures are highlighted on pages 51 and 52. 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 Our 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 $ 12,841,931 $ 13,838,613 $ 17,127,330 $ 15,337,274
PEO Actually Paid Compensation Amount $ 13,510,536 2,999,756 23,404,280 19,367,486
Adjustment To PEO Compensation, Footnote the PEO and Ms. Dardis, Messrs. August, Thomson, and Veiel served as the Non-PEO NEOs.
       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2023  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2024 Proxy                 $12,841,931                $8,077,675 
Subtract Grant Date Fair Value of Stock Awards Granted in 2023  $(5,100,097)  $(1,468,859)
Add Year-End Fair Value of Stock Awards Granted and Unvested in 2023  $5,462,252   $1,573,162 
Add Change in Fair Value of Prior Year Grants Unvested and Outstanding  $(132,516)  $(35,248)
Add Change in Fair Value of Stock Awards (made in prior years) Vested as of Vesting Date in 2023  $(230,044)  $(97,994)
Add Dividend Equivalents Paid in 2023  $669,010   $143,195 
Compensation Actually Paid in 2023  $13,510,536   $8,191,931 
bThe 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 Stock Awards Granted in 2022  $(5,400,156)  $(1,604,741)
Add Year-End Fair Value of Stock 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 Stock Awards (made in prior years) 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 

 

cThe adjustments to the 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 Stock Awards Granted in 2021  $(6,600,390)  $(3,020,250)
Add Year-End Fair Value of Stock 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 Stock Awards (made in prior years) 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 
dThe adjustments to the 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 Stock Awards Granted in 2020  $(5,900,108)  $(3,512,648)
Add Year-End Fair Value of Stock 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 Stock Awards (made in prior years) 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 $ 8,077,675 8,430,654 9,119,220 10,969,887
Non-PEO NEO Average Compensation Actually Paid Amount $ 8,191,931 5,616,935 10,768,644 13,917,124
Adjustment to Non-PEO NEO Compensation Footnote the PEO and Ms. Dardis, Messrs. August, Thomson, and Veiel served as the Non-PEO NEOs.
       AVERAGE 
       COMPENSATION FOR 
As of 12/31/2023  PEO COMPENSATION   NON-PEO NEOs 
Summary Compensation Table—2024 Proxy                 $12,841,931                $8,077,675 
Subtract Grant Date Fair Value of Stock Awards Granted in 2023  $(5,100,097)  $(1,468,859)
Add Year-End Fair Value of Stock Awards Granted and Unvested in 2023  $5,462,252   $1,573,162 
Add Change in Fair Value of Prior Year Grants Unvested and Outstanding  $(132,516)  $(35,248)
Add Change in Fair Value of Stock Awards (made in prior years) Vested as of Vesting Date in 2023  $(230,044)  $(97,994)
Add Dividend Equivalents Paid in 2023  $669,010   $143,195 
Compensation Actually Paid in 2023  $13,510,536   $8,191,931 
bThe 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 Stock Awards Granted in 2022  $(5,400,156)  $(1,604,741)
Add Year-End Fair Value of Stock 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 Stock Awards (made in prior years) 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 

 

cThe adjustments to the 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 Stock Awards Granted in 2021  $(6,600,390)  $(3,020,250)
Add Year-End Fair Value of Stock 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 Stock Awards (made in prior years) 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 
dThe adjustments to the 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 Stock Awards Granted in 2020  $(5,900,108)  $(3,512,648)
Add Year-End Fair Value of Stock 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 Stock Awards (made in prior years) 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      
Compensation Actually Paid vs. Net Income      
Compensation Actually Paid vs. Company Selected Measure      
Total Shareholder Return Vs Peer Group      
Tabular List, Table
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 $ 102.91 99.67 172.5 127.89
Peer Group Total Shareholder Return Amount 174.6 129.13 175.4 118.99
Net Income (Loss) $ 1,835,700,000 $ 1,449,600,000 $ 3,098,500,000 $ 2,523,300,000
Company Selected Measure Amount 6,460.5 6,488.4 7,671.9 6,206.7
PEO Name Mr. Sharps Mr. Sharps Mr. Stromberg Mr. Stromberg
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest $ 47 $ (108.3) $ 15.6 $ 150.6
Share Price | $ / shares $ 107.69 $ 109.06 $ 196.64 $ 151.39
Vested Share Price | $ / shares $ 101.79 $ 126.58 $ 190.44 $ 139.84
Measure:: 1        
Pay vs Performance Disclosure        
Name Assets Under Management      
Non-GAAP Measure Description In no particular order, the following table outlines what we believe to be our NEO's key performance measures. These measures are highlighted on pages 51 and 52. We believe net revenue to be the most significant measure in determining the compensation of our NEOs.      
Measure:: 2        
Pay vs Performance Disclosure        
Name Investment Performance      
Measure:: 3        
Pay vs Performance Disclosure        
Name Net Income      
Measure:: 4        
Pay vs Performance Disclosure        
Name Net Operating Income      
Measure:: 5        
Pay vs Performance Disclosure        
Name Net Revenue      
Measure:: 6        
Pay vs Performance Disclosure        
Name Non-GAAP Diluted Earnings per Share      
Measure:: 7        
Pay vs Performance Disclosure        
Name Operating Margin      
PEO | Equity Awards Value In Summary Compensation Table (Grant Date Value)        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (5,100,097) $ (5,400,156) $ (6,600,390) $ (5,900,108)
PEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 5,462,252 4,854,042 6,355,405 5,831,543
PEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (132,516) (8,444,026) 4,807,722 3,066,315
PEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (230,044) (2,138,845) 1,110,196 504,223
PEO | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 669,010 290,128 604,017 528,239
PEO | Prior Year LTI Awards Forfeited [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount      
Non-PEO NEO | Equity Awards Value In Summary Compensation Table (Grant Date Value)        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,468,859) (1,604,741) (3,020,250) (3,512,648)
Non-PEO NEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,573,162 1,442,455 2,908,148 3,471,827
Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (35,248) (1,999,648) 1,693,273 1,956,299
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (97,994) (749,289) 958,513 718,559
Non-PEO NEO | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 143,195 $ 97,504 333,062 $ 313,200
Non-PEO NEO | Prior Year LTI Awards Forfeited [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount     $ (1,223,322)