XML 62 R45.htm IDEA: XBRL DOCUMENT
v3.22.4

Equity Method Investments in Affiliates (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments in Affiliates | Equity method investments in Affiliates (net) consisted of the following:
|  | December 31,
|  | 2021 |  | 2022
Goodwill |  | $ | 1,264.4 |  |  | $ | 1,262.4 |
Definite-lived acquired client relationships (net) |  | 470.1 |  |  | 479.4 |
Indefinite-lived acquired client relationships (net) |  | 174.4 |  |  | 119.0 |
Undistributed earnings and tangible capital |  | 225.5 |  |  | 278.7 |
Equity method investments in Affiliates (net) |  | $ | 2,134.4 |  |  | $ | 2,139.5 |
The following table presents the change in Equity method investments in Affiliates (net):
|  | Equity Method Investments in Affiliates (Net)
|  | 2021 |  | 2022
Balance, beginning of period |  | $ | 2,074.8 |  |  | $ | 2,134.4 |
Investments in Affiliates |  | 147.3 |  |  | 326.1 |
BPEA(1) |  | — |  |  | (150.6) |
Earnings |  | 417.5 |  |  | 497.2 |
Intangible amortization and impairments |  | (175.0) |  |  | (159.1) |
Distributions of earnings |  | (337.5) |  |  | (394.7) |
Return of capital |  | (4.4) |  |  | (0.8) |
Foreign currency translation |  | 12.5 |  |  | (68.5) |
Other |  | (0.8) |  |  | (44.5) |
Balance, end of period |  | $ | 2,134.4 |  |  | $ | 2,139.5 |
__________________________ (1)Represents the Company’s equity method investment in Baring Private Equity Asia (“BPEA”) as of the BPEA Transaction closing date. The following table presents summarized financial information for Affiliates accounted for under the equity method:
|  | For the Years Ended December 31,
|  | 2020 |  | 2021 |  | 2022
Revenue(1) |  | $ | 2,659.7 |  |  | $ | 3,228.1 |  |  | $ | 3,239.5 |
Net income(1) |  | 1,061.8 |  |  | 1,656.6 |  |  | 1,358.7 |
|  | December 31,
|  | 2021 |  | 2022
Assets |  | $ | 3,607.7 |  |  | $ | 2,816.7 |
Liabilities and Non-controlling interests |  | 1,422.7 |  |  | 1,221.4 |
__________________________ (1)Revenue and net income include asset- and performance-based fees, the impact of consolidated sponsored investment products and new Affiliate investments for the full-year, regardless of the date of the Company’s investment.

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

X
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration