XML 58 R41.htm IDEA: XBRL DOCUMENT
v3.22.4

Debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Debt | The following table summarizes the Company’s Debt:
|  | December 31,
|  | 2021 |  | 2022
Senior bank debt |  | $ | 349.9 |  |  | $ | 349.9 |
Senior notes |  | 1,093.5 |  |  | 1,095.2 |
Junior subordinated notes |  | 751.4 |  |  | 751.6 |
Junior convertible securities |  | 295.6 |  |  | 338.6 |
Debt |  | $ | 2,490.4 |  |  | $ | 2,535.3 |
Schedule of Principal Terms of Senior and Junior Subordinated Notes | As of December 31, 2022, the Company had senior notes outstanding, the respective principal terms and effective interest rates of which are presented below:
|  | 2024 Senior Notes |  | 2025 Senior Notes |  | 2030 Senior Notes
Issue date |  | February 2014 |  | February 2015 |  | June 2020
Maturity date |  | February 2024 |  | August 2025 |  | June 2030
Par value (in millions) |  | $ | 400.0 |  |  | $ | 350.0 |  |  | $ | 350.0 |
Stated coupon |  | 4.25 | % |  | 3.50 | % |  | 3.30 | %
Coupon frequency |  | Semi-annually |  | Semi-annually |  | Semi-annually
Potential call date |  | Any time |  | Any time |  | Any time
Call price |  | As defined |  | As defined |  | As defined
Effective interest rate |  | 4.43 | % |  | 3.67 | % |  | 3.39 | %
principal terms and effective interest rates of which are presented below:
|  | 2059 Junior Subordinated Notes |  | 2060 Junior Subordinated Notes |  | 2061 Junior Subordinated Notes
Issue date |  | March 2019 |  | September 2020 |  | July 2021
Maturity date |  | March 2059 |  | September 2060 |  | September 2061
Par value (in millions) |  | $ | 300.0 |  |  | $ | 275.0 |  |  | $ | 200.0 |
Stated coupon |  | 5.875 | % |  | 4.75 | % |  | 4.20 | %
Coupon frequency |  | Quarterly |  | Quarterly |  | Quarterly
Potential call date |  | March 2024 |  | September 2025 |  | September 2026
Call price |  | As defined |  | As defined |  | As defined
Listing |  | NYSE |  | NYSE |  | NYSE
Effective interest rate |  | 5.91 | % |  | 4.78 | % |  | 4.22 | %
Schedule of Convertible Securities | The following table presents interest expense recognized in connection with the junior convertible securities:
|  | December 31,
|  | 2021 |  | 2022
Contractual interest expense |  | $ | 22.2 |  |  | $ | 18.3 |
Amortization of debt issuance costs |  | 0.4 |  |  | 0.2 |
Amortization of debt discount |  | 3.1 |  |  | — |
Total |  | $ | 25.7 |  |  | $ | 18.5 |
Effective interest rate |  | 5.99 | % |  | 5.21 | %

X
- Definition Tabular disclosure of the carrying amount and fair value of convertible securities. + References No definition available. + Details
Name: | amg_ScheduleOfConvertibleSecuritiesTableTextBlock
Namespace Prefix: | amg_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration