Segment Information (Tables)

6 Months Ended

Jun. 30, 2012

	For the Three Months Ended June 30, 2011

	Mutual Fund			Institutional			High Net Worth			Total
Revenue	$	192.5		$	233.9		$	35.9		$	462.3
Operating expenses:
Depreciation and other amortization		4.0			19.8			2.1			25.9
Other operating expenses		130.0			144.2			22.2			296.4

		134.0			164.0			24.3			322.3

Operating income		58.5			69.9			11.6			140.0

Non-operating (income) and expenses:
Investment and other (income) loss		(1.2	)		(4.5	)		11.8			6.1
(Income) loss from equity method investments		0.9			(19.9	)		(1.1	)		(20.1	)
Interest expense		5.5			11.0			1.6			18.1
Imputed interest and contingent payment arrangements		4.5			3.3			0.5			8.3

		9.7			(10.1	)		12.8			12.4

Income (loss) before income taxes		48.8			80.0			(1.2	)		127.6
Income taxes		11.0			17.4			(1.8	)		26.6

Net income		37.8			62.6			0.6			101.0
Net income (non-controlling interests)		(19.0	)		(32.4	)		(4.1	)		(55.5	)

Net income (loss) (controlling interest)	$	18.8		$	30.2		$	(3.5	)	$	45.5

	For the Three Months Ended June 30, 2012

	Mutual Fund			Institutional			High Net Worth			Total
Revenue	$	173.3		$	219.5		$	36.8		$	429.6
Operating expenses:
Depreciation and other amortization		97.7			18.8			1.8			118.3
Other operating expenses		123.3			139.8			23.2			286.3

		221.0			158.6			25.0			404.6

Operating income (loss)		(47.7	)		60.9			11.8			25.0

Non-operating (income) and expenses:
Investment and other (income) loss		(0.3	)		(3.0	)		0.3			(3.0	)
Income from equity method investments		(2.8	)		(9.3	)		(1.3	)		(13.4	)
Interest expense		5.9			10.9			1.7			18.5
Imputed interest and contingent payment arrangements		(22.7	)		(17.5	)		0.2			(40.0	)

		(19.9	)		(18.9	)		0.9			(37.9	)

Income (loss) before income taxes		(27.8	)		79.8			10.9			62.9
Income taxes		(18.1	)		18.0			2.1			2.0

Net income (loss)		(9.7	)		61.8			8.8			60.9
Net income (non-controlling interests)		(21.6	)		(28.4	)		(4.3	)		(54.3	)

Net income (loss) (controlling interest)	$	(31.3	)	$	33.4		$	4.5		$	6.6

	For the Six Months Ended June 30, 2011

	Mutual Fund			Institutional			High Net Worth			Total
Revenue	$	376.7		$	440.9		$	70.9		$	888.5
Operating expenses:
Depreciation and other amortization		8.1			39.5			4.2			51.8
Other operating expenses		256.4			271.1			44.3			571.8

		264.5			310.6			48.5			623.6

Operating income		112.2			130.3			22.4			264.9

Non-operating (income) and expenses:
Investment and other (income) loss		(3.5	)		(9.5	)		10.4			(2.6	)
Income from equity method investments		(0.5	)		(27.6	)		(2.2	)		(30.3	)
Interest expense		11.8			22.2			3.4			37.4
Imputed interest and contingent payment arrangements		9.0			6.6			1.0			16.6

		16.8			(8.3	)		12.6			21.1

Income before income taxes		95.4			138.6			9.8			243.8
Income taxes		22.7			30.3			0.4			53.4

Net income		72.7			108.3			9.4			190.4
Net income (non-controlling interests)		(37.3	)		(59.7	)		(8.9	)		(105.9	)

Net income (controlling interest)	$	35.4		$	48.6		$	0.5		$	84.5

	For the Six Months Ended June 30, 2012

	Mutual Fund			Institutional			High Net Worth			Total
Revenue	$	349.0		$	426.2		$	72.0		$	847.2
Operating expenses:
Depreciation and other amortization		109.7			38.8			3.7			152.2
Other operating expenses		246.2			269.3			45.7			561.2

		355.9			308.1			49.4			713.4

Operating income		(6.9	)		118.1			22.6			133.8

Non-operating (income) and expenses:
Investment and other income		(4.3	)		(8.1	)		(1.0	)		(13.4	)
Income from equity method investments		(5.4	)		(19.8	)		(2.7	)		(27.9	)
Interest expense		12.0			21.8			3.3			37.1
Imputed interest and contingent payment arrangements		(27.9	)		(15.2	)		0.6			(42.5	)

		(25.6	)		(21.3	)		0.2			(46.7	)

Income before income taxes		18.7			139.4			22.4			180.5
Income taxes		(7.5	)		29.8			4.3			26.6

Net income		26.2			109.6			18.1			153.9
Net income (non-controlling interests)		(42.7	)		(57.3	)		(9.9	)		(109.9	)

Net Income (loss) (controlling interest)	$	(16.5	)	$	52.3		$	8.2		$	44.0

Balance Sheet Information
Total assets as of December 31, 2011	$	1,920.6		$	2,836.2		$	462.1		$	5,218.9
Total assets as of June 30, 2012	$	2,302.7		$	2,697.2		$	614.8		$	5,614.7

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details