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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flow from (used in) operating activities:    
Net income (loss) $ 40.0 $ (133.0)
Adjustments to reconcile Net income (loss) to cash flow from (used in) operating activities:    
Intangible amortization and impairments 20.6 29.6
Depreciation and other amortization 5.1 5.2
Deferred income tax benefit (19.2) (86.0)
Equity method loss (net) 113.2 358.1
Distributions of earnings received from equity method investments 124.4 96.5
Share-based compensation and Affiliate equity expense 24.8 19.5
Other non-cash items 9.0 (4.4)
Changes in assets and liabilities:    
Purchases of securities by consolidated Affiliate sponsored investment products (26.0) 0.0
Sales of securities by consolidated Affiliate sponsored investment products 25.2 1.5
Increase in receivables (32.7) (131.3)
(Increase) decrease in other assets 10.8 (0.7)
Decrease in payables, accrued liabilities and other liabilities (209.6) (172.9)
Cash flow from (used in) operating activities 85.6 (17.9)
Cash flow from (used in) investing activities:    
Investments in Affiliates (0.7) (34.1)
Divestments of Affiliates 0.0 28.8
Purchase of fixed assets (2.6) (3.0)
Purchase of investment securities (11.9) (8.7)
Sale of investment securities 31.1 16.9
Cash flow from (used) in investing activities 15.9 (0.1)
Cash flow from (used in) financing activities:    
Borrowings of debt 250.0 336.3
Repayments of debt 0.0 (385.0)
Repurchases of common stock (net) (80.2) (71.0)
Dividends paid on common stock (15.3) (17.0)
Distributions to non-controlling interests (99.6) (104.6)
Affiliate equity repurchases and issuances (net) (84.4) (6.0)
Other financing items (8.2) 3.6
Cash flow used in financing activities (37.7) (243.7)
Effect of foreign currency exchange rate changes on cash and cash equivalents (11.2) 4.0
Net increase (decrease) in cash and cash equivalents 52.6 (257.7)
Cash and cash equivalents at beginning of period 539.6 565.5
Effect of deconsolidation of Affiliates and Affiliate sponsored investment products 0.0 (2.6)
Cash and cash equivalents at end of period $ 592.2 $ 305.2