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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flow from (used in) operating activities:      
Net income $ 305.1 $ 532.3 $ 1,008.7
Adjustments to reconcile Net income to cash flow from (used in) operating activities:      
Intangible amortization and impairments 144.5 114.8 86.4
Depreciation and other amortization 21.3 22.0 20.3
Deferred income tax expense (benefit) (55.8) 51.9 (123.6)
Equity method (income) loss (net) 338.0 0.2 (302.2)
Distributions of earnings received from equity method investments 252.4 466.3 429.8
Share-based compensation and Affiliate equity expense 90.4 101.1 90.4
Other non-cash items (17.7) (2.7) (26.3)
Changes in assets and liabilities:      
Purchases of securities by consolidated Affiliate sponsored investment products (42.3) (190.8) (34.1)
Sales of securities by consolidated Affiliate sponsored investment products 16.5 49.6 29.9
(Increase) decrease in receivables (15.8) 14.4 (53.5)
Increase in other assets (51.4) (11.7) (7.7)
Increase (decrease) in payables, accrued liabilities and other liabilities (56.1) (6.8) 52.3
Cash flow from operating activities 929.1 1,140.6 1,170.4
Cash flow from (used in) investing activities:      
Investments in Affiliates (162.3) (7.3) (30.6)
Divestments of Affiliates 117.7 0.0 0.0
Purchase of fixed assets (9.6) (18.7) (18.5)
Purchase of investment securities (43.1) (40.8) (37.2)
Sale of investment securities 72.9 48.6 100.1
Cash flow from (used in) investing activities (24.4) (18.2) 13.8
Cash flow from (used in) financing activities:      
Borrowings of debt 470.7 1,150.0 545.0
Repayments of debt (510.0) (1,180.6) (805.0)
Repurchase of common stock (356.1) (496.1) (351.3)
Dividends paid on common stock (65.3) (64.4) (44.9)
Distributions to non-controlling interests (347.9) (370.5) (352.2)
Affiliate equity repurchases and issuances (net) (135.5) (113.7) (165.7)
Subscriptions to consolidated Affiliate sponsored investment products, net of redemptions 19.0 132.8 2.7
Other financing items (9.6) (40.6) (18.3)
Cash flow used in financing activities (934.7) (983.1) (1,189.7)
Effect of foreign currency exchange rate changes on cash and cash equivalents 8.7 (10.1) 14.2
Net increase (decrease) in cash and cash equivalents (21.3) 129.2 8.7
Cash and cash equivalents at beginning of period 565.5 439.5 430.8
Effect of deconsolidation of Affiliates and Affiliate sponsored investment products (4.6) (3.2) 0.0
Cash and cash equivalents at end of period 539.6 565.5 439.5
Supplemental disclosure of cash flow information:      
Interest paid 84.1 76.9 82.1
Income taxes paid 102.7 160.2 165.0
Lease liabilities paid 35.4    
Supplemental disclosure of non-cash financing activities:      
Payables recorded for Affiliate equity repurchases 19.8 36.2 47.3
Payables recorded for share repurchases 10.6 6.9 23.1
Stock issued upon vesting of restricted stock units 32.7 4.7 59.3
Stock received for tax withholdings on share-based payments 6.4 14.7 20.0
Stock received for the exercise of stock options 0.0 $ 4.1 $ 30.2
Right-of-use assets obtained in exchange for new operating leases $ 189.7