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Business Combinations
 12 Months Ended
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.