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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flow from (used in) operating activities:    
Net income $ 661.9 $ 557.0
Adjustments to reconcile Net income to cash flow from (used in) operating activities:    
Intangible amortization and impairments 37.5 39.4
Depreciation and other amortization 10.0 11.9
Deferred income tax expense 13.0 47.8
Equity method income (net) (154.3) (123.9)
Affiliate Transaction gain (133.1) 0.0
Distributions received from equity method investments 421.7 339.7
Share-based compensation and Affiliate equity compensation expense 83.4 80.9
Net realized and unrealized losses (gains) on investment securities (68.7) 3.0
Other non-cash items (3.7) (1.0)
Changes in assets and liabilities:    
Purchases of securities by consolidated Affiliate sponsored investment products (32.6) (34.5)
Sales of securities by consolidated Affiliate sponsored investment products 38.9 24.5
Decrease (increase) in receivables (116.4) 9.5
Decrease in other assets 23.3 19.3
Decrease in payables, accrued liabilities, and other liabilities (161.5) (176.2)
Cash flow from operating activities 619.4 797.4
Cash flow from (used in) investing activities:    
Investments in Affiliates, net of cash acquired (93.8) (147.8)
Proceeds from Affiliate Transaction 294.0 0.0
Return of capital from equity method investments 0.0 0.8
Purchase of fixed assets (6.6) (9.1)
Purchase of investment securities (477.6) (147.2)
Maturities and sales of investment securities 761.9 36.7
Cash flow (used in) from investing activities 477.9 (266.6)
Cash flow from (used in) financing activities:    
Borrowings of senior bank debt 25.0 0.0
Repayments of senior bank debt and junior convertible securities (25.0) (60.8)
Repurchases of common stock (net) (213.6) (353.1)
Dividends paid on common stock (1.2) (1.2)
Distributions to non-controlling interests (216.4) (278.0)
Affiliate equity (purchases) / issuances (net) (28.3) (21.8)
Subscriptions (redemptions) to consolidated Affiliate sponsored investment products, net (9.7) 6.5
Other financing items (54.8) (70.7)
Cash flow used in financing activities (524.0) (779.1)
Effect of foreign currency exchange rate changes on cash and cash equivalents (0.2) (37.3)
Net (decrease) increase in cash and cash equivalents 573.1 (285.6)
Cash and cash equivalents at beginning of period 429.2 908.5
Effect of deconsolidation of Affiliates and Affiliate sponsored investment products (3.1) 0.0
Cash and cash equivalents at end of period $ 999.2 $ 622.9