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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flow from (used in) operating activities:    
Net income $ 557.0 $ 606.7
Adjustments to reconcile Net income to cash flow from (used in) operating activities:    
Intangible amortization and impairments 39.4 25.3
Depreciation and other amortization 11.9 12.5
Deferred income tax expense 47.8 87.6
Equity method income (net) (123.9) (125.1)
Distributions of earnings received from equity method investments 339.7 288.1
Share-based compensation and Affiliate equity expense 80.9 90.9
Other non-cash items 2.0 (69.1)
Changes in assets and liabilities:    
Purchases of securities by consolidated Affiliate sponsored investment products (34.5) (91.1)
Sales of securities by consolidated Affiliate sponsored investment products 24.5 49.9
(Increase) decrease in receivables 9.5 (81.0)
Decrease in other assets 19.3 22.5
Increase (decrease) in payables, accrued liabilities, and other liabilities (176.2) 80.1
Cash flow from operating activities 797.4 897.3
Cash flow from (used in) investing activities:    
Investments in Affiliates, net of cash acquired (147.8) (144.9)
Return of capital from equity method investments 0.8 3.4
Purchase of fixed assets (9.1) (4.9)
Purchase of investment securities (147.2) (57.4)
Sale of investment securities 36.7 26.0
Cash flow used in investing activities (266.6) (177.8)
Cash flow from (used in) financing activities:    
Borrowings of senior bank debt, senior notes, and junior subordinated notes 0.0 200.0
Repayments of senior bank debt and junior convertible securities (60.8) (26.1)
Repurchases of common stock (net) (353.1) (493.0)
Dividends paid on common stock (1.2) (1.3)
Distributions to non-controlling interests (278.0) (260.9)
Affiliate equity (purchases) / issuances (net) (21.8) (47.8)
Subscriptions to consolidated Affiliate sponsored investment products, net of redemptions 6.5 33.2
Other financing items (70.7) (29.6)
Cash flow used in financing activities (779.1) (625.5)
Effect of foreign currency exchange rate changes on cash and cash equivalents (37.3) (1.8)
Net increase (decrease) in cash and cash equivalents (285.6) 92.2
Cash and cash equivalents at beginning of period 908.5 1,039.7
Effect of deconsolidation of Affiliate sponsored investment products 0.0 (3.9)
Cash and cash equivalents at end of period $ 622.9 $ 1,128.0