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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income $ 2,135.8 $ 1,835.7 $ 1,449.6
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation, amortization and impairment of property, equipment and software 254.1 254.8 225.7
Amortization and impairment of acquisition-related assets and retention arrangements 250.1 226.8 420.1
Fair value remeasurement of contingent consideration liability (13.4) (82.4) (161.2)
Stock-based compensation expense 247.3 265.6 285.4
Net (gains) losses recognized on other investments (340.2) (460.8) 210.6
Net (investments) redemptions in investment products used to economically hedge deferred compensation liabilities (93.2) 56.1 (18.8)
Net change in securities held by consolidated investment products (760.4) (1,070.3) 87.9
Other changes in assets and liabilities 5.5 193.6 (139.9)
Net cash provided by operating activities 1,685.6 1,219.1 2,359.4
Cash flows from investing activities      
Purchases of sponsored investment products (100.1) (85.3) (55.1)
Dispositions of sponsored investment products 533.4 616.6 263.6
Net cash of investment products upon deconsolidation (15.8) (56.8) (8.7)
Additions to property and equipment (423.4) (307.9) (237.6)
Other investing activity (171.6) (38.4) (3.7)
Net cash provided by (used in) investing activities (177.5) 128.2 (41.5)
Cash flows from financing activities      
Repurchases of common stock (337.2) (254.4) (849.8)
Common share issuances under stock-based compensation plans (33.3) (18.0) (36.2)
Dividends paid to common stock and equity-award holders (1,135.6) (1,121.7) (1,107.4)
Net distributions to non-controlling interests in consolidated entities (36.7) (43.3) (35.1)
Net subscriptions (redemptions) from redeemable non-controlling interest holders 606.2 358.8 (48.4)
Net cash used in financing activities (936.6) (1,078.6) (2,076.9)
Effect of exchange rate changes on cash and cash equivalents of consolidated investment products (2.4) 0.4 9.5
Net change in cash and cash equivalents during year 569.1 269.1 250.5
Cash and cash equivalents at beginning of year 2,143.8 1,874.7 1,624.2
Cash and cash equivalents at end of year $ 2,712.9 $ 2,143.8 $ 1,874.7