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Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Quarterly Results of Operations | The following is a summary of the quarterly results of operations of the Company for the years ended December 31, 2018 and 2019:
|  | 2018
|  | First Quarter |  | Second Quarter(1) |  | Third Quarter |  | Fourth Quarter(1)
Consolidated revenue |  | $ | 612.5 |  |  | $ | 600.2 |  |  | $ | 601.3 |  |  | $ | 564.4 |
Income (loss) before income taxes |  | 287.5 |  |  | 239.3 |  |  | 250.4 |  |  | (63.6 | )
Net income (loss) |  | 224.0 |  |  | 205.2 |  |  | 201.9 |  |  | (98.8 | )
Net income (loss) (controlling interest) |  | 153.0 |  |  | 117.0 |  |  | 124.9 |  |  | (151.3 | )
Earnings (loss) per share (diluted) |  | $ | 2.77 |  |  | $ | 2.16 |  |  | $ | 2.34 |  |  | $ | (2.88 | )
|  | 2019
|  | First Quarter(2) |  | Second Quarter |  | Third Quarter(2) |  | Fourth Quarter(2)
Consolidated revenue |  | $ | 543.1 |  |  | $ | 592.0 |  |  | $ | 549.0 |  |  | $ | 555.5 |
Income (loss) before income taxes |  | (194.8 | ) |  | 215.9 |  |  | 192.6 |  |  | 94.3 |
Net income (loss) |  | (133.0 | ) |  | 180.1 |  |  | 162.1 |  |  | 95.9 |
Net income (loss) (controlling interest) |  | (200.8 | ) |  | 107.7 |  |  | 86.3 |  |  | 22.5 |
Earnings (loss) per share (diluted) |  | $ | (3.87 | ) |  | $ | 2.11 |  |  | $ | 1.71 |  |  | $ | 0.46 |
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(1) | In the second and fourth quarter of 2018, the Company recorded $33.3 million and $240.0 million of expenses, respectively, to reduce the carrying value to fair value of certain of its Affiliates.
(2) In the first, third and fourth quarters of 2019, the Company recorded $415.0 million, $10.0 million and $60.0 million of expenses, respectively, to reduce the carrying value to fair value of certain of its Affiliates. In the fourth quarter of 2019, the Company recorded $35.0 million of expenses to reduce the carrying value to fair value of certain of its indefinite-lived acquired client relationships and a $16.1 million expense to reduce the carrying value to zero of certain indefinite-lived acquired client relationships due to the closure of certain retail investment products on our U.S. retail distribution platform.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
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