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Equity Method Investments in Affiliates (Tables)
 12 Months Ended
Dec. 31, 2024
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,
2023
2024
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$1,323.3
$1,363.2
Definite-lived acquired client relationships, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
652.5
546.1
Indefinite-lived acquired client relationships, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
122.6
124.1
Undistributed earnings and tangible capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
190.1
213.2
Equity method investments in Affiliates (net) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$2,288.5
$2,246.6
The following table presents the changes in Equity method investments in Affiliates (net):
Equity Method Investments in
Affiliates (Net)
2023
2024
Balance, beginning of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$2,139.5
$2,288.5
Investments in Affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
349.8
14.3
Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
375.6
442.7
Intangible amortization and impairments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(95.6)
(130.0)
Distributions of earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(492.1)
(402.7)
Return of capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(0.2)
(0.7)
Foreign currency translation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
29.3
34.5
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(17.8)
—
Balance, end of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$2,288.5
$2,246.6
The following tables present summarized financial information for Affiliates accounted for under the equity method:
 
For the Years Ended December 31,
 
2022
2023
2024
Revenue(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$3,239.5
$3,115.6
$3,212.0
Net income(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,358.7
1,313.0
1,506.4
___________________________
(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.
 
December 31,
 
2023
2024
Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$3,269.1
$3,348.2
Liabilities and Non-controlling interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,467.3
1,262.9