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Note 14 - Noncontrolling Interests
12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Noncontrolling Interest Disclosure [Text Block]

Note 14 Noncontrolling Interests

 

Redeemable Noncontrolling Interests

 

Redeemable noncontrolling interests as of December 31, 2024 and 2023, consisted of the following (in millions):

 

 

December 31,

 

 

2024

  

2023

 

Consolidated seeded investment products

 $365.0  $317.2 

 

Consolidated Seeded Investment Products

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Noncontrolling interests in consolidated seeded investment products are classified as redeemable noncontrolling interests when there is an obligation to repurchase units at the investor’s request.

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Redeemable noncontrolling interests in consolidated seeded investment products may fluctuate from period to period and are impacted by changes in our relative ownership, changes in the amount of third-party investment in seeded products and volatility in the market value of the seeded products’ underlying securities. Third-party redemption of investments in any particular seeded product is redeemed from the respective product’s net assets and cannot be redeemed from the assets of other seeded products or from our other assets.

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The following table presents the movement in redeemable noncontrolling interests in consolidated seeded investment products for the years ended  December 31, 2024, 2023 and 2022 (in millions):

 ​

 

Year ended December 31,

 

 

2024

  

2023

  

2022

 

Opening balance

 $317.2  $233.9  $148.5 

Changes in market value

  37.5   34.8   (97.9)

Changes in ownership

  15.8   46.5   184.2 

Foreign currency translation

  (5.5)  2.0   (0.9)

Closing balance

 $365.0  $317.2  $233.9 

 

Nonredeemable Noncontrolling Interests

 

Nonredeemable noncontrolling interests as of December 31, 2024 and 2023, consisted of the following (in millions):

 

 

December 31,

 

 

2024

  

2023

 

VPC

 $126.5  $