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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flow from (used in) operating activities:    
Net income $ 235.1 $ 333.8
Adjustments to reconcile Net income to cash flow from (used in) operating activities:    
Intangible amortization and impairments 89.6 14.5
Depreciation and other amortization 5.3 6.1
Deferred income tax expense 26.8 40.8
Equity method income (net) (140.9) (135.7)
Distributions received from equity method investments 295.9 289.0
Share-based compensation and Affiliate equity compensation expense 92.3 66.3
Net realized and unrealized gains on investment securities (20.5) (20.7)
Other non-cash items (3.9) (2.5)
Changes in assets and liabilities:    
Purchases of securities by consolidated Affiliate sponsored investment products (35.1) (48.7)
Sales of securities by consolidated Affiliate sponsored investment products 30.5 37.4
Increase in receivables (126.9) (90.7)
Decrease (increase) in other assets (13.0) 11.4
(Decrease) increase in payables, accrued liabilities, and other liabilities 4.5 (46.6)
Cash flow from operating activities 439.7 454.4
Cash flow from (used in) investing activities:    
Investments in Affiliates, net of cash acquired (510.1) (5.7)
Purchases of fixed assets (3.0) (1.6)
Purchases of investment securities (56.4) (432.3)
Maturities and sales of investment securities 40.2 754.4
Cash flow from (used in) investing activities (529.3) 314.8
Cash flow from (used in) financing activities:    
Borrowings of junior subordinated notes 0.0 450.0
Repayments of senior bank debt and senior notes 0.0 (450.0)
Repurchases of common stock, net (277.5) (484.6)
Dividends paid on common stock (0.5) (0.7)
Distributions to non-controlling interests (149.7) (147.6)
Affiliate equity purchases, net (41.1) (49.1)
Redemptions of consolidated Affiliate sponsored investment products, net (4.1) (8.4)
Other financing items (45.5) (25.7)
Cash flow used in financing activities (518.4) (716.1)
Effect of foreign currency exchange rate changes on cash and cash equivalents 13.0 (1.5)
Net increase (decrease) in cash and cash equivalents (595.0) 51.6
Cash and cash equivalents at beginning of period 950.0 813.6
Effect of consolidation of Affiliate sponsored investment products 6.0 0.3
Cash and cash equivalents at end of period $ 361.0 $ 865.5