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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of estimated fair values of the assets acquired and liabilities

The acquisition-date fair value of the consideration transferred and the estimated fair values of the assets acquired and liabilities assumed at the acquisition date are as follows (Dollars in millions):

Acquisition-date fair value of consideration transferred(1)
Cash			$	160.6
Shares of common stock (see Note 15)			25.0
Total consideration transferred			$	185.6
Estimated fair value of assets acquired and liabilities assumed
Cash and receivables			$	11.0
Investments in Abingworth funds			3.8
Lease right-of-use assets, fixed assets, and other assets, net			3.7
Deferred tax assets			6.7
Finite-lived intangible assets			88.0
Goodwill			90.9
Lease liabilities			(2.7)
Accrued expenses, accrued compensation and benefits, and other liabilities			(11.6)
Non-controlling interests in Abingworth entities(2)			(4.2)
Total			$	185.6

(1) The value of the consideration at acquisition is subject to certain post-closing adjustments.

(2)    Represents assets held by Abingworth entities which are consolidated VIEs. These assets are attributable to employees and are therefore reflected as non-controlling interests, and include investments in funds in which the Company did not acquire direct economic interests, which are presented as investments in Abingworth funds above.

Schedule of acquisition-date fair value of consideration transferred and estimated fair values of assets acquired and liabilities assumed

The acquisition-date fair value of the consideration transferred and the allocation of cost to the assets acquired and liabilities assumed at the acquisition date are as follows (Dollars in millions):

Acquisition-date fair value of consideration transferred
Cash			$	618.4
Shares of common stock (see Note 15)			194.5
Total consideration transferred			$	812.9
Allocation of cost to assets acquired and liabilities assumed
Acquired contractual rights			$	794.3
Acquired CLO senior and subordinated notes			175.9
Assumed CLO borrowings outstanding (see Note 8)			(157.3)
Total cost of assets acquired, net of liabilities assumed			$	812.9

X

- Definition

Tabular disclosure of asset acquisition.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 50
-Section 15
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=6911878&loc=d3e8732-128492

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- References

No definition available.

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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