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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flow from (used in) operating activities:    
Net income $ 47.2 $ 429.3
Adjustments to reconcile Net income (loss) to cash flow from (used in) operating activities:    
Intangible amortization and impairments 50.9 46.4
Depreciation and other amortization 10.6 11.2
Deferred income tax expense (benefit) (80.5) 18.7
Equity method (income) loss (net) 328.8 (131.6)
Distributions of earnings received from equity method investments 155.9 327.8
Share-based compensation and Affiliate equity expense 42.0 49.5
Other non-cash items (8.8) (5.7)
Changes in assets and liabilities:    
Purchases of securities by consolidated Affiliate sponsored investment products 0.0 (23.2)
Sales of securities by consolidated Affiliate sponsored investment products 3.2 24.1
Increase in receivables (126.5) (60.6)
Increase in other assets (0.8) (6.0)
Decrease in payables, accrued liabilities and other liabilities (112.8) (102.6)
Cash flow from operating activities 309.2 577.3
Cash flow from (used in) investing activities:    
Investments in Affiliates (59.8) (7.3)
Divestments of Affiliates 28.8 0.0
Purchase of fixed assets (6.3) (10.3)
Purchase of investment securities (30.7) (18.4)
Sale of investment securities 25.0 10.5
Cash flow used in investing activities (43.0) (25.5)
Cash flow from (used in) financing activities:    
Borrowings of debt 420.7 565.0
Repayments of debt (460.0) (540.0)
Repurchases of common stock (net) (141.8) (319.8)
Dividends paid on common stock (33.4) (32.6)
Distributions to non-controlling interests (192.7) (205.3)
Affiliate equity issuances and repurchases (net) (41.9) (50.9)
Other financing items (21.3) (12.2)
Cash flow used in financing activities (470.4) (595.8)
Effect of foreign currency exchange rate changes on cash and cash equivalents 1.3 (2.7)
Net decrease in cash and cash equivalents (202.9) (46.7)
Cash and cash equivalents at beginning of period 565.5 439.5
Effect of deconsolidation of Affiliate sponsored investment products (2.6) 0.0
Cash and cash equivalents at end of period $ 360.0 $ 392.8