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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2012
Segment Information |
Schedule of segment information |
|  | For the Three Months Ended September 30, 2011 |
--- | --- | --- | ---
|  | Mutual Fund |  | Institutional |  | High Net Worth |  | Total |
Revenue |  | $ | 179.0 |  | $ | 199.6 |  | $ | 35.2 |  | $ | 413.8 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation, intangible amortization and impairments |  |  | 4.2 |  |  | 19.8 |  |  | 2.1 |  |  | 26.1 |
Other operating expenses |  |  | 119.3 |  |  | 120.9 |  |  | 21.5 |  |  | 261.7 |
|  |  | 123.5 |  |  | 140.7 |  |  | 23.6 |  |  | 287.8 |
Operating income |  |  | 55.5 |  |  | 58.9 |  |  | 11.6 |  |  | 126.0 |
Non-operating (income) and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Investment and other loss |  |  | 5.5 |  |  | 2.6 |  |  | 1.4 |  |  | 9.5 |
Income from equity method investments |  |  | (2.0 | ) |  | (6.6 | ) |  | (1.2 | ) |  | (9.8 | )
Interest expense |  |  | 6.1 |  |  | 10.3 |  |  | 1.7 |  |  | 18.1 |
Imputed interest and contingent payment arrangements |  |  | 4.7 |  |  | 3.1 |  |  | 0.5 |  |  | 8.3 |
|  |  | 14.3 |  |  | 9.4 |  |  | 2.4 |  |  | 26.1 |
Income before income taxes |  |  | 41.2 |  |  | 49.5 |  |  | 9.2 |  |  | 99.9 |
Income taxes |  |  | 8.1 |  |  | 9.5 |  |  | 2.2 |  |  | 19.8 |
Net income |  |  | 33.1 |  |  | 40.0 |  |  | 7.0 |  |  | 80.1 |
Net income (non-controlling interests) |  |  | (14.7 | ) |  | (22.3 | ) |  | (3.0 | ) |  | (40.0 | )
Net income (controlling interest) |  | $ | 18.4 |  | $ | 17.7 |  | $ | 4.0 |  | $ | 40.1 |
|  | For the Three Months Ended September 30, 2012 |
--- | --- | --- | ---
|  | Mutual Fund |  | Institutional |  | High Net Worth |  | Total |
Revenue |  | $ | 208.3 |  | $ | 210.7 |  | $ | 48.3 |  | $ | 467.3 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation, intangible amortization and impairments |  |  | 5.4 |  |  | 19.0 |  |  | 3.1 |  |  | 27.5 |
Other operating expenses |  |  | 139.1 |  |  | 131.5 |  |  | 29.5 |  |  | 300.1 |
|  |  | 144.5 |  |  | 150.5 |  |  | 32.6 |  |  | 327.6 |
Operating income |  |  | 63.8 |  |  | 60.2 |  |  | 15.7 |  |  | 139.7 |
Non-operating (income) and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Investment and other income |  |  | (3.2 | ) |  | (2.8 | ) |  | (0.9 | ) |  | (6.9 | )
Income from equity method investments |  |  | (3.2 | ) |  | (14.8 | ) |  | (1.4 | ) |  | (19.4 | )
Interest expense |  |  | 7.5 |  |  | 12.0 |  |  | 2.3 |  |  | 21.8 |
Imputed interest and contingent payment arrangements |  |  | 3.2 |  |  | 3.0 |  |  | 0.5 |  |  | 6.7 |
|  |  | 4.3 |  |  | (2.6 | ) |  | 0.5 |  |  | 2.2 |
Income before income taxes |  |  | 59.5 |  |  | 62.8 |  |  | 15.2 |  |  | 137.5 |
Income taxes |  |  | 7.5 |  |  | 9.4 |  |  | 2.5 |  |  | 19.4 |
Net income |  |  | 52.0 |  |  | 53.4 |  |  | 12.7 |  |  | 118.1 |
Net income (non-controlling interests) |  |  | (27.3 | ) |  | (28.5 | ) |  | (7.4 | ) |  | (63.2 | )
Net income (controlling interest) |  | $ | 24.7 |  | $ | 24.9 |  | $ | 5.3 |  | $ | 54.9 |
|  | For the Nine Months Ended September 30, 2011 |
--- | --- | --- | ---
|  | Mutual Fund |  | Institutional |  | High Net Worth |  | Total |
Revenue |  | $ | 555.7 |  | $ | 640.6 |  | $ | 106.1 |  | $ | 1,302.4 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation, intangible amortization and impairments |  |  | 12.3 |  |  | 59.3 |  |  | 6.3 |  |  | 77.9 |
Other operating expenses |  |  | 375.7 |  |  | 392.0 |  |  | 65.9 |  |  | 833.6 |
|  |  | 388.0 |  |  | 451.3 |  |  | 72.2 |  |  | 911.5 |
Operating income |  |  | 167.7 |  |  | 189.3 |  |  | 33.9 |  |  | 390.9 |
Non-operating (income) and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Investment and other (income) loss |  |  | 2.0 |  |  | (6.9 | ) |  | 11.7 |  |  | 6.8 |
Income from equity method investments |  |  | (2.5 | ) |  | (34.2 | ) |  | (3.4 | ) |  | (40.1 | )
Interest expense |  |  | 18.0 |  |  | 32.5 |  |  | 5.1 |  |  | 55.6 |
Imputed interest and contingent payment arrangements |  |  | 13.6 |  |  | 9.8 |  |  | 1.5 |  |  | 24.9 |
|  |  | 31.1 |  |  | 1.2 |  |  | 14.9 |  |  | 47.2 |
Income before income taxes |  |  | 136.6 |  |  | 188.1 |  |  | 19.0 |  |  | 343.7 |
Income taxes |  |  | 30.8 |  |  | 39.8 |  |  | 2.6 |  |  | 73.2 |
Net income |  |  | 105.8 |  |  | 148.3 |  |  | 16.4 |  |  | 270.5 |
Net income (non-controlling interests) |  |  | (52.0 | ) |  | (82.0 | ) |  | (11.9 | ) |  | (145.9 | )
Net income (controlling interest) |  | $ | 53.8 |  | $ | 66.3 |  | $ | 4.5 |  | $ | 124.6 |
|  | For the Nine Months Ended September 30, 2012 |
--- | --- | --- | ---
|  | Mutual Fund |  | Institutional |  | High Net Worth |  | Total |
Revenue |  | $ | 557.4 |  | $ | 636.8 |  | $ | 120.3 |  | $ | 1,314.5 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation, intangible amortization and impairments |  |  | 115.1 |  |  | 57.8 |  |  | 6.8 |  |  | 179.7 |
Other operating expenses |  |  | 385.2 |  |  | 400.9 |  |  | 75.2 |  |  | 861.3 |
|  |  | 500.3 |  |  | 458.7 |  |  | 82.0 |  |  | 1,041.0 |
Operating income |  |  | 57.1 |  |  | 178.1 |  |  | 38.3 |  |  | 273.5 |
Non-operating (income) and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Investment and other income |  |  | (7.5 | ) |  | (10.9 | ) |  | (1.9 | ) |  | (20.3 | )
Income from equity method investments |  |  | (8.5 | ) |  | (34.6 | ) |  | (4.2 | ) |  | (47.3 | )
Interest expense |  |  | 19.5 |  |  | 33.7 |  |  | 5.6 |  |  | 58.8 |
Imputed interest and contingent payment arrangements |  |  | (24.7 | ) |  | (12.1 | ) |  | 1.1 |  |  | (35.7 | )
|  |  | (21.2 | ) |  | (23.9 | ) |  | 0.6 |  |  | (44.5 | )
Income before income taxes |  |  | 78.3 |  |  | 202.0 |  |  | 37.7 |  |  | 318.0 |
Income taxes |  |  | — |  |  | 39.2 |  |  | 6.8 |  |  | 46.0 |
Net income |  |  | 78.3 |  |  | 162.8 |  |  | 30.9 |  |  | 272.0 |
Net income (non-controlling interests) |  |  | (70.0 | ) |  | (85.8 | ) |  | (17.3 | ) |  | (173.1 | )
Net Income (controlling interest) |  | $ | 8.3 |  | $ | 77.0 |  | $ | 13.6 |  | $ | 98.9 |
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 September 30, 2012 |  | $ | 2,367.5 |  | $ | 3,029.5 |  | $ | 633.8 |  | $ | 6,030.8 |

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 27, 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 + Details
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