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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flow from (used in) operating activities:      
Net income $ 890.1 $ 427.0 $ 305.1
Adjustments to reconcile Net income to cash flow from (used in) operating activities:      
Intangible amortization and impairments 35.7 140.5 144.5
Depreciation and other amortization 16.6 19.1 21.3
Deferred income tax (benefit) expense 91.2 26.8 (55.8)
Equity method loss (income) (net) (242.5) 43.4 338.0
Distributions of earnings received from equity method investments 337.5 236.8 252.4
Share-based compensation and Affiliate equity expense 126.7 119.2 90.4
Net realized and unrealized gains on investment securities (108.7) (19.5) (21.4)
Other non-cash items 44.2 16.5 3.7
Changes in assets and liabilities:      
Purchases of securities by consolidated Affiliate sponsored investment products (109.6) (110.1) (42.3)
Sales of securities by consolidated Affiliate sponsored investment products 58.0 99.6 16.5
(Increase) decrease in receivables 31.7 1.1 (15.8)
(Increase) decrease in other assets 23.8 73.1 (51.4)
(Decrease) increase in payables, accrued liabilities and other liabilities 64.5 (64.2) (56.1)
Cash flow from operating activities 1,259.2 1,009.3 929.1
Cash flow from (used in) investing activities:      
Investments in Affiliates, net of cash acquired (562.6) (44.5) (162.3)
Divestments of Affiliates and return of capital from equity method investments 4.4 0.0 117.7
Purchase of fixed assets (8.4) (8.5) (9.6)
Purchase of investment securities (73.5) (47.7) (43.1)
Sale of investment securities 56.4 47.0 72.9
Cash flow used in investing activities (583.7) (53.7) (24.4)
Cash flow from (used in) financing activities:      
Borrowings of senior bank debt, senior notes, and junior subordinated notes 200.0 874.8 470.7
Repayments of senior bank debt and junior convertible securities (33.0) (350.0) (510.0)
Repurchase of common stock (net) (595.3) (335.1) (356.1)
Dividends paid on common stock (1.7) (16.8) (65.3)
Distributions to non-controlling interests (334.3) (306.3) (347.9)
Affiliate equity purchases (150.5) (315.1) (146.0)
Affiliate equity issuances 117.7 20.2 10.5
Subscriptions to consolidated Affiliate sponsored investment products, net of redemptions 40.9 12.9 19.0
Other financing items (42.1) (40.0) (9.6)
Cash flow used in financing activities (798.3) (455.4) (934.7)
Effect of foreign currency exchange rate changes on cash and cash equivalents (0.8) 2.1 8.7
Net (decrease) increase in cash and cash equivalents (123.6) 502.3 (21.3)
Cash and cash equivalents at beginning of period 1,039.7 539.6 565.5
Effect of deconsolidation of Affiliates and Affiliate sponsored investment products (7.6) (2.2) (4.6)
Cash and cash equivalents at end of period 908.5 1,039.7 539.6
Supplemental disclosure of cash flow information:      
Interest paid 103.0 88.3 84.1
Income taxes paid (refunds received), net 87.1 (12.4) 102.7
Lease liabilities paid 38.8 39.1 35.4
Supplemental disclosure of non-cash investing and financing activities:      
Payables recorded for investments in Affiliates and contingent payment obligations 287.8 109.2 0.0
Stock issued upon vesting of restricted stock units and exercise of stock options 82.6 35.6 32.7
Right-of-use assets obtained in exchange for new operating leases 26.3 24.4 189.7
Stock received for tax withholdings on share-based payments 19.9 6.7 6.4
Payables recorded for share repurchases 16.7 105.6 10.6
Payables recorded for Affiliate equity purchases $ 11.0 $ 22.0 $ 19.8