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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flow from (used in) operating activities:      
Net income $ 739.0 $ 827.2 $ 767.4
Adjustments to reconcile Net income to net cash flow from operating activities:      
Intangible amortization and impairments 110.2 115.4 122.2
Depreciation and other amortization 19.5 18.8 16.9
Deferred income tax provision 59.3 101.2 81.0
Imputed interest expense and contingent payment arrangements 3.9 (40.3) 30.1
Income from equity method investments, net of amortization (328.8) (288.9) (281.7)
Distributions received from equity method investments 346.4 346.1 366.9
Amortization of issuance costs 4.8 8.1 7.6
Share-based compensation and Affiliate equity expense 80.4 102.7 113.7
Other non-cash items (24.8) (5.8) 3.8
Changes in assets and liabilities:      
Purchases of trading securities by Affiliate sponsored consolidated products (86.2) (4.6) (1.9)
Sales of trading securities by Affiliate sponsored consolidated products 82.8 4.1 1.3
Decrease in receivables 58.2 56.1 26.5
(Increase) decrease in other assets (6.1) 6.7 (6.5)
Increase (decrease) in payables, accrued liabilities and other liabilities (31.0) (38.4) 189.6
Cash flow from operating activities 1,027.6 1,208.4 1,436.9
Cash flow from (used in) investing activities:      
Investments in Affiliates (1,361.3) (297.7) (1,245.0)
Purchase of fixed assets (20.2) (38.2) (19.2)
Purchase of investment securities (16.0) (13.5) (21.2)
Sale of investment securities 65.3 24.9 17.3
Cash flow used in investing activities (1,332.2) (324.5) (1,268.1)
Cash flow from (used in) financing activities:      
Borrowings of senior debt 1,350.0 1,253.3 1,746.5
Repayments of senior debt and convertible securities (1,125.0) (1,256.0) (1,020.6)
Issuance of common stock 465.8 57.8 41.4
Repurchase of common stock (33.4) (413.7) (190.8)
Note and contingent payments 4.9 20.5 14.4
Distributions to non-controlling interests (354.1) (431.4) (569.4)
Affiliate equity issuances and repurchases (104.0) (120.6) (65.7)
Excess tax benefit from share-based compensation 0.0 44.5 61.5
Settlement of forward equity sale agreement 0.0 0.1 (45.0)
Other financing items (3.3) (12.2) (49.9)
Cash flow from (used in) financing activities 200.9 (857.7) (77.6)
Effect of foreign exchange rate changes on cash and cash equivalents (27.2) (13.0) (10.2)
Net increase (decrease) in cash and cash equivalents (130.9) 13.2 81.0
Cash and cash equivalents at beginning of period 563.8 550.6 469.6
Net cash outflows upon the consolidation and deconsolidation of Affiliate sponsored products (2.1) 0.0 0.0
Cash and cash equivalents at end of period 430.8 563.8 550.6
Supplemental disclosure of cash flow information:      
Interest paid 85.0 76.4 67.9
Income taxes paid 152.3 89.6 110.7
Supplemental disclosure of non-cash financing activities:      
Settlement of 2006 junior convertible securities 0.0 0.0 217.8
Stock issued under incentive plans 17.2 10.7 63.6
Stock received for tax withholdings on share-based payments 9.8 3.6 44.7
Payables recorded for Share repurchases 0.0 0.0 47.8
Payables recorded for Affiliate equity repurchases $ 12.1 $ 62.3 $ 21.5