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Business Combinations | 12 Months Ended
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Dec. 31, 2014
Business Combinations [Abstract] |
Business Combinations | Business Combinations The Company completed majority investments in three new Affiliates. SouthernSun Asset Management, LLC ("SouthernSun") was completed on March 31, 2014, River Road Asset Management, LLC ("River Road") was completed on June 30, 2014 and Veritas Asset Management, LLP ("Veritas") was completed on October 31, 2014. The Company completed its purchase price allocations for these new Affiliates by using a financial model that includes assumptions of market performance, net client cash flows and discount rates. There were no significant differences between the provisional and final purchase price allocations. The consideration paid (less net tangible assets acquired) is deductible for U.S. tax purposes over a 15-year life. The purchase price allocation for these investments is as follows:
| SouthernSun |  | River Road |  | Veritas
Consideration paid | $ | 109.9 |  |  | $ | 132.4 |  |  | $ | 319.9 |
Non-controlling interests | 74.0 |  |  | 35.8 |  |  | 125.2 |
Enterprise value | $ | 183.9 |  |  | $ | 168.2 |  |  | $ | 445.1 |
Acquired client relationships | $ | 125.3 |  |  | $ | 64.1 |  |  | $ | 275.6 |
Deferred income taxes | — |  |  | — |  |  | (35.7 | )
Tangible assets, net | 6.3 |  |  | 4.5 |  |  | 12.6 |
Goodwill | 52.3 |  |  | 99.6 |  |  | 192.6 |
| $ | 183.9 |  |  | $ | 168.2 |  |  | $ | 445.1 |
The excess of the enterprise value over the net assets acquired was recorded as goodwill and the segment allocation is as follows:
| SouthernSun |  | River Road |  | Veritas
Institutional | 37 | % |  | 31 | % |  | 24 | %
Mutual Fund | 23 | % |  | 51 | % |  | 76 | %
High Net Worth | 40 | % |  | 18 | % |  | — | %
Unaudited pro-forma financial results are set forth below assuming these investments occurred on January 1, 2013, the revenue sharing arrangement had been in effect for the entire period and after making certain pro-forma adjustments.
| For the Years Ended December 31,
| 2013 (Unaudited) |  | 2014 (Unaudited)
Revenue | $ | 2,353.5 |  |  | $ | 2,644.9 |
Net income (controlling interest) | 382.3 |  |  | 474.9 |
Earnings per share (basic) | $ | 7.20 |  |  | $ | 8.63 |
Earnings per share (diluted) | $ | 6.94 |  |  | $ | 8.40 |
The unaudited pro-forma financial results are not necessarily indicative of the financial results had the investments been consummated at the beginning of the periods presented, nor are they necessarily indicative of the financial results expected in future periods. The unaudited pro-forma financial results do not include the impact of transaction and integration related costs or benefits that may be expected to result from these investments. The Company's investments in SouthernSun, River Road and Veritas contributed $72.2 million and $8.5 million to the Company's revenue and earnings, respectively, during 2014.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1383-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4922-128472 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4934-128472 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4926-128472 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1497-128463 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1490-128463 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1500-128463 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1524-128463 + Details
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