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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flow from (used in) operating activities:      
Net income $ 427.0 $ 305.1 $ 532.3
Adjustments to reconcile Net income to cash flow from (used in) operating activities:      
Intangible amortization and impairments 140.5 144.5 114.8
Depreciation and other amortization 19.1 21.3 22.0
Deferred income tax expense (benefit) 26.8 (55.8) 51.9
Equity method loss (net) 43.4 338.0 0.2
Distributions of earnings received from equity method investments 236.8 252.4 466.3
Share-based compensation and Affiliate equity expense 119.2 90.4 101.1
Other non-cash items (3.0) (17.7) (2.7)
Changes in assets and liabilities:      
Purchases of securities by consolidated Affiliate sponsored investment products (110.1) (42.3) (190.8)
Sales of securities by consolidated Affiliate sponsored investment products 99.6 16.5 49.6
Decrease (increase) in receivables 1.1 (15.8) 14.4
(Increase) decrease in other assets 73.1 (51.4) (11.7)
Decrease in payables, accrued liabilities and other liabilities (64.2) (56.1) (6.8)
Cash flow from operating activities 1,009.3 929.1 1,140.6
Cash flow from (used in) investing activities:      
Investments in Affiliates (44.5) (162.3) (7.3)
Divestments of Affiliates 0.0 117.7 0.0
Purchase of fixed assets (8.5) (9.6) (18.7)
Purchase of investment securities (47.7) (43.1) (40.8)
Sale of investment securities 47.0 72.9 48.6
Cash flow used in investing activities (53.7) (24.4) (18.2)
Cash flow from (used in) financing activities:      
Borrowings of senior bank debt, senior notes and junior subordinated notes 874.8 470.7 1,150.0
Repayments of senior bank debt (350.0) (510.0) (1,180.6)
Repurchase of common stock (net) (335.1) (356.1) (496.1)
Dividends paid on common stock (16.8) (65.3) (64.4)
Distributions to non-controlling interests (306.3) (347.9) (370.5)
Affiliate equity (repurchases) / issuances (net) (294.9) (135.5) (113.7)
Subscriptions to consolidated Affiliate sponsored investment products, net of redemptions 12.9 19.0 132.8
Other financing items (40.0) (9.6) (40.6)
Cash flow used in financing activities (455.4) (934.7) (983.1)
Effect of foreign currency exchange rate changes on cash and cash equivalents 2.1 8.7 (10.1)
Net increase (decrease) in cash and cash equivalents 502.3 (21.3) 129.2
Cash and cash equivalents at beginning of period 539.6 565.5 439.5
Effect of deconsolidation of Affiliates and Affiliate sponsored investment products (2.2) (4.6) (3.2)
Cash and cash equivalents at end of period 1,039.7 539.6 565.5
Supplemental disclosure of cash flow information:      
Interest paid 88.3 84.1 76.9
Income taxes paid (refunds received), net 12.4 102.7 160.2
Lease liabilities paid 39.1 35.4 0.0
Supplemental disclosure of non-cash investing and financing activities:      
Payables recorded for Affiliate equity repurchases 22.0 19.8 36.2
Payables recorded for share repurchases 105.6 10.6 6.9
Payables recorded for contingent payment arrangements 40.0 0.0 0.0
Payables recorded for investments in Affiliates 69.2 0.0 0.0
Stock issued upon vesting of restricted stock units 35.6 32.7 4.7
Stock received for tax withholdings on share-based payments 6.7 6.4 14.7
Right-of-use assets obtained in exchange for new operating leases $ 24.4 $ 189.7 $ 0.0