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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flow from (used in) operating activities:    
Net income $ 429.3 $ 398.0
Adjustments to reconcile Net income to net cash flow from operating activities:    
Intangible amortization and impairments 46.4 43.9
Depreciation and other amortization 11.2 10.1
Deferred income tax provision 18.7 56.0
Equity method income (net) (131.6) (160.9)
Distributions of earnings received from equity method investments 327.8 283.5
Share-based compensation and Affiliate equity expense 49.5 48.2
Other non-cash items (5.7) (19.6)
Changes in assets and liabilities:    
Purchases of securities by Affiliate sponsored consolidated products (23.2) (16.4)
Sales of securities by Affiliate sponsored consolidated products 24.1 15.0
Increase in receivables (60.6) (75.8)
Increase in other assets (6.0) (4.0)
Decrease in payables, accrued liabilities and other liabilities (102.6) (134.0)
Cash flow from operating activities 577.3 444.0
Cash flow from (used in) investing activities:    
Investments in Affiliates (7.3) (30.3)
Purchase of fixed assets (10.3) (7.2)
Purchase of investment securities (18.4) (13.6)
Sale of investment securities 10.5 52.1
Cash flow from (used in) investing activities (25.5) 1.0
Cash flow from (used in) financing activities:    
Borrowings of senior debt 565.0 205.0
Repayments of senior debt (540.0) (285.0)
Repurchase of common stock (323.9) (170.2)
Issuance of common stock 4.1 29.5
Dividends paid on common stock (32.6) (22.6)
Distributions to non-controlling interests (205.3) (178.6)
Affiliate equity issuances and repurchases (50.9) (77.1)
Other financing items (12.2) (18.2)
Cash flow used in financing activities (595.8) (517.2)
Effect of foreign exchange rate changes on cash and cash equivalents (2.7) 6.0
Net decrease in cash and cash equivalents (46.7) (66.2)
Cash and cash equivalents at beginning of period 439.5 430.8
Cash and cash equivalents at end of period $ 392.8 $ 364.6