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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flow from (used in) operating activities:      
Net income $ 740.6 $ 906.1 $ 1,388.1
Adjustments to reconcile Net income to cash flow from (used in) operating activities:      
Intangible amortization and impairments 29.0 48.3 51.6
Depreciation and other amortization 13.4 13.0 15.8
Deferred income tax expense 60.6 31.4 32.0
Equity method income (net) (312.7) (280.0) (338.1)
Distributions received from equity method investments 403.9 490.8 393.5
Affiliate Transaction gains 0.0 (133.1) (641.9)
Share-based compensation and Affiliate equity compensation expense 111.6 112.1 113.8
Net realized and unrealized gains on investment securities (39.3) (84.2) (103.5)
Other non-cash items (3.9) (10.8) 17.8
Changes in assets and liabilities:      
Purchases of securities by consolidated Affiliate sponsored investment products (76.5) (45.0) (46.7)
Sales of securities by consolidated Affiliate sponsored investment products 62.2 54.3 33.8
Decrease (increase) in receivables (44.2) (48.4) 87.0
Decrease in other assets 6.6 9.2 41.6
Increase (decrease) in payables, accrued liabilities, and other liabilities (19.2) (189.4) 9.9
Cash flow from operating activities 932.1 874.3 1,054.7
Cash flow from (used in) investing activities:      
Investments in Affiliates, net of cash acquired (5.9) (294.7) (291.1)
Proceeds from Affiliate Transactions 0.0 294.0 223.6
Return of capital from equity method investments 0.7 0.2 0.8
Purchase of fixed assets (3.4) (12.4) (11.4)
Purchase of investment securities (510.4) (731.1) (312.0)
Maturities and sales of investment securities 898.1 1,008.5 280.2
Cash flow from (used in) investing activities 379.1 264.5 (109.9)
Cash flow from (used in) financing activities:      
Borrowings of senior bank debt, senior notes, and junior subordinated notes 847.6 25.0 0.0
Repayments of senior bank debt, junior convertible securities, and senior notes (750.0) (25.0) (60.8)
Repurchase of common stock, net (709.8) (341.9) (713.8)
Dividends paid on common stock (1.4) (1.5) (1.6)
Distributions to non-controlling interests (258.0) (271.3) (341.9)
Affiliate equity purchases (106.5) (67.4) (61.5)
Affiliate equity issuances 6.3 13.4 15.2
Subscriptions (redemptions) to consolidated Affiliate sponsored investment products, net (6.4) (12.6) 13.0
Settlement of deferred payments, net (98.7) (21.7) (201.0)
Other financing items (99.0) (55.3) (50.5)
Cash flow used in financing activities (1,175.9) (758.3) (1,402.9)
Effect of foreign currency exchange rate changes on cash and cash equivalents (4.2) 6.9 (22.6)
Net (decrease) increase in cash and cash equivalents 131.1 387.4 (480.7)
Cash and cash equivalents at beginning of period 813.6 429.2 908.5
Effect of consolidation (deconsolidation) of Affiliates and Affiliate sponsored investment products 5.3 (3.0) 1.4
Cash and cash equivalents at end of period 950.0 813.6 429.2
Supplemental disclosure of cash flow information:      
Income taxes paid, net 142.5 314.5 120.2
Interest paid 138.2 110.4 109.4
Lease liabilities paid 39.4 37.7 41.8
Supplemental disclosure of non-cash investing and financing activities:      
Payables recorded for investments in Affiliates and contingent payment obligations 7.0 57.6 31.2
Right-of-use assets obtained in exchange for new operating leases 8.8 17.5 69.4
Stock issued upon vesting of restricted stock units and exercise of stock options 114.4 55.0 41.2
Stock received for tax withholdings on share-based payments 87.1 31.4 19.4
Stock received for the exercise of stock options 113.9 0.6 2.3
Shares received for settlement of accelerated share repurchase agreement 0.0 14.1 0.0
Payables recorded for share repurchases 9.0 12.0 0.0
Payables recorded for Affiliate equity purchases 35.0 43.0 27.2
EQT ordinary shares received from BPEA Transaction 0.0 0.0 515.2
Other investments from BPEA Transaction $ 0.0 $ 0.0 $ 51.7