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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flow from (used in) operating activities:      
Net income $ 532.3 $ 1,008.7 $ 739.0
Adjustments to reconcile Net income to net cash flow from operating activities:      
Intangible amortization and impairments 114.8 86.4 110.2
Depreciation and other amortization 22.0 20.3 19.5
Deferred income tax provision 51.9 (123.6) 59.3
Equity method (income) loss (net) 0.2 (302.2) (328.8)
Distributions of earnings received from equity method investments 466.3 429.8 346.4
Share-based compensation and Affiliate equity expense 101.1 90.4 80.4
Other non-cash items (2.7) (26.3) (16.1)
Changes in assets and liabilities:      
Purchases of securities by Affiliate sponsored consolidated products (190.8) (34.1) (86.2)
Sales of securities by Affiliate sponsored consolidated products 49.6 29.9 82.8
(Increase) decrease in receivables 14.4 (53.5) 29.6
Increase in other assets (11.7) (7.7) (6.1)
Increase (decrease) in payables, accrued liabilities and other liabilities (6.8) 52.3 20.3
Cash flow from operating activities 1,140.6 1,170.4 1,050.3
Cash flow from (used in) investing activities:      
Investments in Affiliates (7.3) (30.6) (1,361.3)
Purchase of fixed assets (18.7) (18.5) (20.2)
Purchase of investment securities (40.8) (37.2) (16.0)
Sale of investment securities 48.6 100.1 65.3
Cash flow from (used in) investing activities (18.2) 13.8 (1,332.2)
Cash flow from (used in) financing activities:      
Borrowings of senior bank debt and senior notes 1,150.0 545.0 1,350.0
Repayments of senior bank debt and senior notes (1,180.6) (805.0) (1,125.0)
Repurchase of common stock (505.8) (393.2) (33.4)
Issuance of common stock 9.7 41.9 465.8
Dividends paid on common stock (64.4) (44.9) 0.0
Distributions to non-controlling interests (370.5) (352.2) (354.1)
Affiliate equity issuances and repurchases (113.7) (165.7) (104.0)
Subscriptions to Affiliate sponsored consolidated products, net of redemptions 132.8 2.7 9.1
Other financing items (40.6) (18.3) (7.5)
Cash flow from (used in) financing activities (983.1) (1,189.7) 200.9
Effect of foreign currency exchange rate changes on cash and cash equivalents (10.1) 14.2 (49.9)
Net increase (decrease) in cash and cash equivalents 129.2 8.7 (130.9)
Cash and cash equivalents at beginning of period 439.5 430.8 563.8
Net cash outflows upon the consolidation and deconsolidation of Affiliate sponsored products (3.2) 0.0 (2.1)
Cash and cash equivalents at end of period 565.5 439.5 430.8
Supplemental disclosure of cash flow information:      
Interest paid 76.9 82.1 85.0
Income taxes paid 160.2 165.0 152.3
Supplemental disclosure of non-cash financing activities:      
Payables recorded for Affiliate equity repurchases 36.2 47.3 12.1
Payables recorded for share repurchases 6.9 23.1 0.0
Stock issued upon vesting of restricted stock units 4.7 59.3 17.2
Stock received for tax withholdings on share-based payments 14.7 20.0 9.8
Stock received for the exercise of stock options $ 4.1 $ 30.2 $ 11.2