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Segment Information
 9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
Segment Information
Segment Information
Management has assessed and determined that the Company operates in three business segments representing the Company's three principal distribution channels: Institutional, Mutual Fund and High Net Worth, each of which has different client relationships.
Statements of Income
 
For the Three Months Ended September 30, 2013
 
Institutional
 
Mutual Fund
 
High Net Worth
 
Total
Revenue
$
229.1

 
$
268.0

 
$
54.5

 
$
551.6

Operating expenses:
 
 
 
 
 
 
 
Depreciation, intangible amortization and impairments
17.6

 
15.6

 
2.9

 
36.1

Other operating expenses
140.3

 
174.7

 
31.4

 
346.4

 
157.9

 
190.3

 
34.3

 
382.5

Operating income
71.2

 
77.7

 
20.2

 
169.1

Income from equity method investments
27.7

 
4.0

 
2.4

 
34.1

Other non-operating (income) and expenses:
 
 
 
 
 
 
 
Investment and other income
(3.9
)
 
(3.8
)
 
(0.3
)
 
(8.0
)
Interest expense
10.6

 
7.3

 
2.0

 
19.9

Imputed interest expense and contingent payment arrangements
1.2

 
2.5

 
0.2

 
3.9

 
7.9

 
6.0

 
1.9

 
15.8

Income before income taxes
91.0

 
75.7

 
20.7

 
187.4

Income taxes
17.9

 
8.8

 
4.3

 
31.0

Net income
73.1

 
66.9

 
16.4

 
156.4

Net income (non-controlling interests)
(33.3
)
 
(39.1
)
 
(8.8
)
 
(81.2
)
Net income (controlling interest)
$
39.8

 
$
27.8

 
$
7.6

 
$
75.2

 
For the Three Months Ended September 30, 2014
 
Institutional
 
Mutual Fund
 
High Net Worth
 
Total
Revenue
$
256.1

 
$
319.6

 
$
64.6

 
$
640.3

Operating expenses:
 
 
 
 
 
 
 
Depreciation, intangible amortization and impairments
25.3

 
3.5

 
4.4

 
33.2

Other operating expenses
151.0

 
196.8

 
35.1

 
382.9

 
176.3

 
200.3

 
39.5

 
416.1

Operating income
79.8

 
119.3

 
25.1

 
224.2

Income from equity method investments
40.7

 
5.6

 
3.8

 
50.1

Other non-operating (income) and expenses:
 
 
 
 
 
 
 
Investment and other income
(1.0
)
 
(1.5
)
 
(0.1
)
 
(2.6
)
Interest expense
9.5

 
7.6

 
1.9

 
19.0

Imputed interest expense and contingent payment arrangements
0.4

 
2.1

 
0.3

 
2.8

 
8.9

 
8.2

 
2.1

 
19.2

Income before income taxes
111.6

 
116.7

 
26.8

 
255.1

Income taxes
28.2

 
30.1

 
5.8

 
64.1

Net income
83.4

 
86.6

 
21.0

 
191.0

Net income (non-controlling interests)
(37.1
)
 
(38.5
)
 
(11.1
)
 
(86.7
)
Net income (controlling interest)
$
46.3

 
$
48.1

 
$
9.9

 
$
104.3

 
For the Nine Months Ended September 30, 2013
 
Institutional
 
Mutual Fund
 
High Net Worth
 
Total
Revenue
$
694.6

 
$
741.5

 
$
158.7

 
$
1,594.8

Operating expenses:
  
 
  
 
  
 
 
Depreciation, intangible amortization and impairments
57.1

 
42.0

 
9.3

 
108.4

Other operating expenses
429.8

 
483.2

 
92.4

 
1,005.4

 
486.9

 
525.2

 
101.7

 
1,113.8

Operating income
207.7

 
216.3

 
57.0

 
481.0

Income from equity method investments
102.1

 
11.7

 
7.2

 
121.0

Other non-operating (income) and expenses:
  
 
  
 
  
 
 
Investment and other income
(9.8
)
 
(9.2
)
 
(1.0
)
 
(20.0
)
Interest expense
38.4

 
23.5

 
6.6

 
68.5

Imputed interest and contingent payment arrangements
8.2

 
16.7

 
1.6

 
26.5

 
36.8

 
31.0

 
7.2

 
75.0

Income before income taxes
273.0

 
197.0

 
57.0

 
527.0

Income taxes
60.6

 
34.6

 
11.4

 
106.6

Net income
212.4

 
162.4

 
45.6

 
420.4

Net income (non-controlling interests)
(97.8
)
 
(95.2
)
 
(25.1
)
 
(218.1
)
Net income (controlling interest)
$
114.6

 
$
67.2

 
$
20.5

 
$
202.3


 
For the Nine Months Ended September 30, 2014
 
Institutional
 
Mutual Fund
 
High Net Worth
 
Total
Revenue
$
766.2

 
$
921.5

 
$
182.0

 
$
1,869.7

Operating expenses:
 
 
 
 
 
 
 
Depreciation, intangible amortization and impairments
72.1

 
12.3

 
12.1

 
96.5

Other operating expenses
470.9

 
585.8

 
99.9

 
1,156.6

 
543.0

 
598.1

 
112.0

 
1,253.1

Operating income
223.2

 
323.4

 
70.0

 
616.6

Income from equity method investments
124.6

 
16.5

 
11.5

 
152.6

Other non-operating (income) and expenses:
 
 
 
 
 
 
 
Investment and other income
(11.3
)
 
(7.0
)
 
(0.9
)
 
(19.2
)
Interest expense
29.2

 
21.9

 
5.6

 
56.7

Imputed interest and contingent payment arrangements
10.9

 
14.4

 
2.3

 
27.6

 
28.8

 
29.3

 
7.0

 
65.1

Income before income taxes
319.0

 
310.6

 
74.5

 
704.1

Income taxes
79.4

 
79.7

 
15.6

 
174.7

Net income
239.6

 
230.9

 
58.9

 
529.4

Net income (non-controlling interests)
(107.8
)
 
(107.8
)
 
(32.3
)
 
(247.9
)
Net income (controlling interest)
$
131.8

 
$
123.1

 
$
26.6

 
$
281.5

Total assets as of December 31, 2013
$
3,196.5

 
$
2,448.4

 
$
673.9

 
$
6,318.8

Total assets as of September 30, 2014
$
3,235.4

 
$
2,871.4

 
$
777.4

 
$
6,884.2