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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2013	Nov. 05, 2013
Document and Entity Information
Entity Registrant Name	AFFILIATED MANAGERS GROUP, INC.
Entity Central Index Key	0001004434
Document Type	10-Q
Document Period End Date	Sep. 30, 2013
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		52,978,842
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Statement [Abstract]
Revenue	$ 551.6	$ 467.3	$ 1,594.8	$ 1,314.5
Operating expenses:
Compensation and related expenses	229.8	196.8	679.7	565.9
Selling, general and administrative	106.4	93.9	298.2	267.7
Intangible amortization and impairments	32.7	24.0	98.1	169.1
Depreciation and other amortization	3.4	3.5	10.3	10.6
Other operating expenses	10.2	9.4	27.5	27.7
Total operating expenses	382.5	327.6	1,113.8	1,041.0
Operating income	169.1	139.7	481.0	273.5
Income from equity method investments	34.1	19.4	121.0	47.3
Other non-operating (income) and expenses:
Investment and other income	(8.0)	(6.9)	(20.0)	(20.3)
Interest expense	19.9	21.8	68.5	58.8
Imputed interest and contingent payment arrangements	3.9	6.7	26.5	(35.7)
Total non-operating (income) and expenses	15.8	21.6	75.0	2.8
Income before income taxes	187.4	137.5	527.0	318.0
Income taxes	31.0	19.4	106.6	46.0
Net income	156.4	118.1	420.4	272.0
Net income (non-controlling interests)	(81.2)	(63.2)	(218.1)	(173.1)
Net income (controlling interest)	$ 75.2	$ 54.9	$ 202.3	$ 98.9
Average shares outstanding - basic (in shares)	53.2	51.7	53.0	51.6
Average shares outstanding-diluted (in shares)	56.9	53.0	54.7	52.9
Earnings per share-basic (in dollars per share)	$ 1.41	$ 1.06	$ 3.82	$ 1.92
Earnings per share-diluted (in dollars per share)	$ 1.37	$ 1.04	$ 3.70	$ 1.87

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement of Other Comprehensive Income [Abstract]
Net income	$ 156.4	$ 118.1	$ 420.4	$ 272.0
Other comprehensive income (loss):
Foreign currency translation adjustment	18.1	15.2	(14.4)	19.7
Change in net realized and unrealized gain (loss) on derivative securities, net of tax	0.0	(0.3)	0.8	(0.9)
Change in net unrealized loss on investment securities, net of tax	6.3	1.2	(3.9)	(1.1)
Other comprehensive income (loss)	24.4	16.1	(17.5)	17.7
Comprehensive income	180.8	134.2	402.9	289.7
Comprehensive income (non-controlling interests)	(80.8)	(63.4)	(216.3)	(174.8)
Comprehensive income (controlling interest)	$ 100.0	$ 70.8	$ 186.6	$ 114.9

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 522.4	$ 430.4
Investment advisory fees receivable	269.9	255.5
Investments in marketable securities	132.9	128.9
Unsettled fund shares receivable	159.3	40.1
Prepaid expenses and other current assets	62.9	57.4
Total current assets	1,147.4	912.3
Fixed assets, net	88.1	81.5
Equity method investments in Affiliates	982.5	1,031.3
Acquired client relationships, net	1,485.4	1,585.5
Goodwill	2,345.9	2,355.2
Other assets	211.8	221.3
Total assets	6,261.1	6,187.1
Current liabilities:
Accounts payable and accrued liabilities	387.8	324.7
Unsettled fund shares payable	162.1	39.8
Payables to related party	32.9	11.3
Total current liabilities	582.8	375.8
Senior bank debt	575.0	325.0
Senior notes	340.0	340.0
Senior convertible securities	0.0	450.1
Junior convertible trust preferred securities	517.9	515.5
Deferred income taxes	461.4	497.1
Other long-term liabilities	167.3	164.7
Total liabilities	2,644.4	2,668.2
Redeemable non-controlling interests	614.1	477.5
Equity:
Common stock	0.5	0.5
Additional paid-in capital	548.0	868.5
Accumulated other comprehensive income	63.4	79.1
Retained earnings	1,553.0	1,350.7
Total stockholders' equity before treasury stock	2,164.9	2,298.8
Less treasury stock, at cost	(132.6)	(214.6)
Total stockholders' equity	2,032.3	2,084.2
Non-controlling interests	970.3	957.2
Total equity	3,002.6	3,041.4
Total liabilities and equity	$ 6,261.1	$ 6,187.1

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - 9 months ended Sep. 30, 2013 - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Treasury Stock at Cost [Member]	Non-controlling interests [Member]
Balance at Dec. 31, 2012	$ 3,041.4	$ 0.5	$ 868.5	$ 79.1	$ 1,350.7	$ (214.6)	$ 957.2
Increase (Decrease) in Stockholders' Equity
Stock issued under option and other incentive plans	45.2		(52.5)			97.7
Tax benefit of option exercises	17.9		17.9
Changes in the value of Affiliate equity and other	(146.6)		(162.0)				15.4
Share-based payment arrangements	29.3		29.3
Settlement of senior convertible securities	(130.7)		(130.7)
Forward equity transactions	(22.5)		(22.5)
Share repurchases	(15.7)					(15.7)
Distributions to non-controlling interests	(218.6)						(218.6)
Net income	420.4				202.3		218.1
Other comprehensive loss	(17.5)			(15.7)			(1.8)
Balance at Sep. 30, 2013	$ 3,002.6	$ 0.5	$ 548.0	$ 63.4	$ 1,553.0	$ (132.6)	$ 970.3

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Cash flow from operating activities:
Net income	$ 156.4	$ 118.1	$ 420.4	$ 272.0
Adjustments to reconcile Net income to net cash flow from operating activities:
Intangible amortization and impairments	32.7	24.0	98.1	169.1
Amortization of issuance costs	2.1	2.0	7.8	5.7
Depreciation and other amortization	3.4	3.5	10.3	10.6
Deferred income tax provision	(4.8)	7.8	24.0	5.8
Imputed interest and contingent payment arrangements	3.9	6.7	26.5	(35.7)
Income from equity method investments, net of amortization	(34.1)	(19.4)	(121.0)	(47.3)
Distributions received from equity method investments	40.9	20.8	187.2	79.4
Share-based compensation	9.0	8.0	26.7	24.1
Affiliate equity expense	2.5	2.3	10.9	9.4
Other adjustments	(1.6)	2.6	7.6	2.7
Changes in assets and liabilities:
(Increase) decrease in investment advisory fees receivable	0.0	2.4	(14.2)	(21.3)
Increase in prepaids and other current assets	(3.4)	(3.8)	(10.0)	(12.9)
Increase in other assets	(0.4)	(1.6)	(0.3)	(2.5)
Increase in unsettled fund shares receivable	(48.3)	(5.6)	(114.8)	(15.3)
Increase in unsettled fund shares payable	48.2	4.4	117.8	10.7
Increase (decrease) in accounts payable, accrued liabilities and other long-term liabilities	76.3	38.9	70.6	(7.4)
Cash flow from operating activities	282.8	211.1	747.6	447.1
Cash flow used in investing activities:
Investments in Affiliates	(26.3)	(350.0)	(26.3)	(755.3)
Purchase of fixed assets	(7.1)	(4.9)	(15.9)	(9.9)
Purchase of investment securities	(1.7)	(2.7)	(6.3)	(13.8)
Sale of investment securities	1.0	3.6	4.7	31.1
Cash flow used in investing activities	(34.1)	(354.0)	(43.8)	(747.9)
Cash flow from (used in) financing activities:
Borrowings of senior bank debt	475.0	360.0	595.0	555.0
Repayments of senior bank debt	0.0	(360.0)	(345.0)	(360.0)
Issuance of senior notes	0.0	200.0	0.0	200.0
Settlement of senior convertible securities	(572.3)	0.0	(641.3)	0.0
Issuance of common stock	11.7	23.3	47.7	45.7
Repurchase of common stock	(15.7)	0.0	(15.7)	(60.9)
Issuance costs	(0.2)	(6.0)	(7.4)	(6.0)
Excess tax benefit from exercise of stock options	7.0	6.9	17.1	11.6
Note and contingent payments	(0.1)	(1.8)	(36.7)	(2.1)
Distributions to non-controlling interests	(39.2)	(18.0)	(218.6)	(137.7)
Affiliate equity issuances and repurchases	(11.7)	(2.2)	(6.7)	(25.1)
Cash flow from (used in) financing activities	(145.5)	202.2	(611.6)	220.5
Effect of foreign exchange rate changes on cash and cash equivalents	5.4	2.3	(0.2)	3.4
Net increase (decrease) in cash and cash equivalents	108.6	61.6	92.0	(76.9)
Cash and cash equivalents at beginning of period	413.8	311.0	430.4	449.5
Cash and cash equivalents at end of period	522.4	372.6	522.4	372.6
Supplemental disclosure of non-cash financing activities:
Notes received for Affiliate equity sales	0.0	0.0	0.0	3.0
Payables recorded for Affiliate equity purchases	21.5	0.9	30.5	14.5
Payables recorded under contingent payment arrangements	0.0	0.0	0.0	24.8
Payables recorded for forward equity sale settlements	$ 22.5	$ 0.0	$ 22.5	$ 0.0

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements of Affiliated Managers Group, Inc. ("AMG" or the "Company") have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all of the disclosures required by GAAP. In the opinion of management, all adjustments considered necessary for a fair statement of the results have been included. All intercompany balances and transactions have been eliminated. Certain reclassifications have been made to the prior period's financial statements to conform to the current period's presentation. Operating results for interim periods are not necessarily indicative of the results that may be expected for any other period or for the full year. The Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 includes additional information about AMG, its operations, financial position and accounting policies, and should be read in conjunction with this Quarterly Report on Form 10-Q. All amounts in these notes, except per share data in the text and tables herein, are stated in millions unless otherwise indicated.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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+ Details

Recent Accounting Developments	9 Months Ended
Recent Accounting Developments	Sep. 30, 2013
Recent Accounting Developments
Recent Accounting Developments	Recent Accounting Developments In February 2013, the Financial Accounting Standards Board issued an update to the guidance for reporting reclassifications out of accumulated other comprehensive income. The new guidance requires companies to present the impact of significant amounts reclassified from accumulated other comprehensive income and the income statement line items affected by the reclassification. The new guidance is effective for interim and fiscal periods beginning after December 15, 2012. The Company adopted this guidance in the first quarter of 2013. Adoption of this new guidance did not have a significant impact on the Company's Consolidated Financial Statements. In June 2013, the Financial Accounting Standards Board issued an update to the guidance for determining whether a public or private company is an investment company. The new guidance clarifies the characteristics of an investment company and amends certain disclosure and measurement requirements. The new guidance is effective for interim and fiscal periods beginning after December 15, 2013 (early application is prohibited). The Company is evaluating the impact of this guidance and does not expect it to have a significant impact on the Company's Consolidated Financial Statements.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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+ Details

Investments in Marketable Securities

9 Months Ended

Sep. 30, 2013

Marketable Securities [Abstract]

Investments in Marketable Securities

Investments in marketable securities at December 31, 2012 and September 30, 2013 were $128.9 million and $132.9 million, respectively. These investments are comprised of the Company's investment in Value Partners Group Limited, a publicly-traded asset management firm based in Hong Kong, and investments held by Affiliates.

The following is a summary of the cost, gross unrealized gains and losses and fair value of investments classified as available-for-sale and trading at December 31, 2012 and September 30, 2013:



	Available-for-Sale						Trading
	December 31, 2012			September 30, 2013			December 31, 2012			September 30, 2013
Cost	$	103.2		$	104.0		$	10.3		$	18.2
Unrealized Gains	15.3			9.5			6.5			3.7
Unrealized Losses	(3.2		)	(2.5		)	(3.2		)	—
Fair Value	$	115.3		$	111.0		$	13.6		$	21.9

The following is a summary of the Company's realized gains and losses on investments classified as available-for-sale and trading:



	Available-for-Sale								Trading
	For the Three Months Ended September 30,				For the Nine Months Ended September 30,				For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2013		2012		2013		2012		2013		2012			2013
Gains	$	0.1	$	—	$	0.1	$	2.1	$	0.2	$	0.2	$	0.8		$	0.6
Losses	—		—		—		—		0.0		—		(0.3		)	—
Net realized gains	$	0.1	$	—	$	0.1	$	2.1	$	0.2	$	0.2	$	0.5		$	0.6

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

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+ Details

Variable Interest Entities

9 Months Ended

Sep. 30, 2013

Variable Interest Entities

Variable Interest Entities

Sponsored Investment Funds

The Company's Affiliates act as the investment manager for certain investment funds that are considered variable interest entities ("VIEs"). Affiliates are entitled to receive management fees and may be eligible, under certain circumstances, to receive performance fees. The Affiliates' exposure to risk in these entities is generally limited to any equity investment and any uncollected management or performance fees, neither of which were material at September 30, 2013. The Affiliates do not have any investment performance guarantees to these VIEs.

The Affiliates are not the primary beneficiary of any of these VIEs as their involvement is limited to that of a service provider and their investment, if any, represents an insignificant interest in the fund's assets under management. Since the Affiliates' variable interests will not absorb the majority of the variability of the entity's net assets, these entities are not consolidated.

Trust Preferred Vehicles

The Company established wholly-owned trusts in connection with the 2006 and 2007 issuances of junior convertible trust preferred securities. These entities are considered VIEs and the Company is not the primary beneficiary, therefore these entities are not consolidated in the Company's financial statements.

The net assets and liabilities of the Company's unconsolidated VIEs and its maximum risk of loss related thereto are as follows:



	December 31, 2012				September 30, 2013
Category of Investment	Unconsolidated VIE Net Assets		Carrying Value and Maximum Exposure to Loss		Unconsolidated VIE Net Assets		Carrying Value and Maximum Exposure to Loss
Sponsored investment funds	$	7,186.9	$	0.8	$	7,994.4	$	1.6
Trust preferred vehicles	9.0		9.0		9.0		9.0

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2013
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Senior Bank Debt The Company entered into a $1.25 billion senior unsecured revolving credit facility in April 2013 (the "credit facility") which matures in April 2018. As of September 30, 2013, the current outstanding balance under the credit facility is $575.0 million. The credit facility is unsecured and contains financial covenants with respect to leverage and interest coverage, as well as customary affirmative and negative covenants, including limitations on indebtedness, liens, cash dividends, asset dispositions and fundamental corporate changes. Convertible Securities In the second and third quarters of 2013, the Company repurchased $79.5 million principal amount outstanding of its 3.95% senior convertible notes due 2038 (“2008 senior convertible notes”). Subsequent to the repurchases, the Company called the remaining 2008 senior convertible notes ($380.5 million principal amount) for redemption on August 15, 2013 at their principal amount. In lieu of redemption, holders of the 2008 senior convertible notes elected to convert their securities. The Company elected to settle such conversions in cash. In connection with its call and prior repurchases, the Company paid an aggregate of $641.3 million. All of the Company's 2008 senior convertible notes have been canceled and retired.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Forward Equity Sales	9 Months Ended
Forward Equity Sales	Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Forward Equity Sales	Forward Equity Sales In 2012, the Company amended its forward equity agreement with its counterparties to increase the amount of shares of common stock it may sell to an aggregate of $400.0 million. During 2012, the Company entered into contracts to sell a notional amount of $147.2 million at an average share price of $121.37. The Company has the ability to settle the contracts either by delivering shares of common stock and receiving cash or net settling for cash or shares of common stock. During the three months ended September 30, 2013, the Company agreed to net settle $37.6 million notional amount of forward equity contracts for cash at an average share price of $185.13 and, in October 2013, agreed to net settle an additional $39.4 million notional amount at an average share price of $185.98. In total, the Company has agreed to net settle $77.0 million notional amount of forward equity contracts for cash at an average share price of $185.56.

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

From time to time, the Company seeks to offset its exposure to changing interest rates under its debt financing arrangements by entering into interest rate hedging contracts.

The following summarizes the amount of derivative instrument gains and losses reported in the Consolidated Statements of Comprehensive Income:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Cash Flow Hedges	2012			2013	2012			2013
Interest rate swaps	$	(0.5	)	$ (0.0)	$	(1.4	)	$	1.3

The following summarizes the location and fair values of derivative instruments on the Consolidated Balance Sheets:



Cash Flow Hedges	December 31, 2012			September 30, 2013
Interest rate swaps⁽¹⁾	$	(4.0	)	$	(2.7	)

___________________________________________________________


(1)	Presented within Other long-term liabilities.

The Company's derivative contracts contain provisions that may require the Company or the counterparties to post collateral based upon the current fair value of the derivative contracts. As of September 30, 2013, the Company had posted collateral of $3.6 million related to its interest rate swap contracts.

The Company does not generally hold or issue derivative financial instruments for trading purposes. Interest rate swaps are intended to enable the Company to achieve a level of variable-rate and fixed-rate debt that limits interest rate exposure.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

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+ Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company and its Affiliates are subject to claims, legal proceedings and other contingencies in the ordinary course of their business activities. Each of these matters is subject to various uncertainties, and it is possible that some of these matters may be resolved in a manner unfavorable to the Company or its Affiliates. The Company and its Affiliates establish accruals for matters for which the outcome is probable and the amount of the liability can be reasonably estimated. Management believes that any liability in excess of these accruals upon the ultimate resolution of these matters will not have a material adverse effect on the Company. Certain Affiliates operate under regulatory authorities which require that they maintain minimum financial or capital requirements. Management is not aware of any significant violations of such financial requirements occurring during the period. In connection with a past acquisition agreement, the Company has committed to co-invest in certain investment partnerships where it serves as the general partner. As of September 30, 2013, these commitments totaled approximately $71.6 million and may be called in future periods. The Company is contractually entitled to reimbursement from the prior owner for $33.8 million of these commitments if they are called. Under past acquisition agreements, the Company is contingently liable, upon achievement by Affiliates of specified financial targets, to make payments of up to $474.0 million through 2017. As of September 30, 2013, the Company expects to make payments of $226.0 million (none in 2013) to settle these contingent obligations, including $151.0 million related to the Company's equity method investments. The net present value of the expected payments for consolidated Affiliates totals $46.1 million as of September 30, 2013.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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+ Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following table summarizes the Company's financial assets and liabilities that are measured at fair value on a recurring basis:



			Fair Value Measurements
	December 31, 2012		Fair Value Measurements
	December 31, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Financial Assets
Cash equivalents	$	13.5	$	13.5	$	—	$	—
Investments in marketable securities⁽¹⁾
Trading securities	13.6		13.6		—		—
Available-for-sale securities	115.3		115.3		—		—
Other investments⁽²⁾	155.4		15.7		20.8		118.9
Financial Liabilities
Contingent payment arrangements⁽³⁾	$	31.0	$	—	$	—	$	31.0
Obligations to related parties⁽⁴⁾	77.8		—		—		77.8
Interest rate derivatives⁽⁵⁾	4.0		—		4.0		—



			Fair Value Measurements
	September 30, 2013		Fair Value Measurements
	September 30, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Financial Assets
Cash equivalents	$	32.1	$	32.1	$	—	$	—
Investments in marketable securities⁽¹⁾
Trading securities	21.9		21.9		—		—
Available-for-sale securities	111.0		111.0		—		—
Other investments⁽²⁾	157.9		13.1		18.5		126.3
Financial Liabilities
Contingent payment arrangements⁽³⁾	$	46.1	$	—	$	—	$	46.1
Obligations to related parties⁽⁴⁾	98.7		—		—		98.7
Interest rate derivatives⁽⁵⁾	2.7		—		2.7		—

___________________________________________________________


(1)	Principally investments in equity securities.


(2)	Other investments are reported within Prepaid expenses and other current assets and Other assets.


(3)	Net present value of expected payments under contingent payment arrangements are reported in Accounts payable and accrued liabilities and Other long-term liabilities.


(4)	Obligations to related parties are presented within Payables to related party and Other long-term liabilities.


(5)	Interest rate derivatives are presented within Other long-term liabilities.

The following is a description of the significant financial assets and liabilities measured at fair value and the fair value methodologies used.

Cash equivalents consist primarily of highly liquid investments in money market funds. Cash investments in daily redeeming money market funds are classified as Level 1.

Investments in marketable securities consist primarily of investments in publicly traded securities and in funds advised by Affiliates which are valued using net asset value ("NAV"). Publicly traded securities and investments in daily redeeming funds that calculate NAVs are classified as Level 1.

Other investments consist primarily of funds advised by Affiliates and are valued using NAV. Investments in daily redeeming funds that calculate NAVs are classified as Level 1. Investments in funds that permit redemptions monthly or quarterly are classified as Level 2. Investments in funds that are subject to longer redemption restrictions are classified as Level 3. The fair value of Level 3 assets is determined using NAV one quarter in arrears (adjusted for current period calls and distributions).

Contingent payment arrangements represent the present value of the expected future settlement of contingent payment arrangements related to the Company's investments in Affiliates. The significant unobservable inputs that are used in the fair value measurement of these obligations are growth and discount rates. Increases in the growth rate result in a higher obligation while an increase in the discount rate results in a lower obligation.

Obligations to related parties include agreements to repurchase Affiliate equity and liabilities offsetting certain investments which are held by the Company but economically attributable to a related party. The significant unobservable inputs that are used in the fair value measurement for the repurchase of Affiliate equity are growth and discount rates. Increases in the growth rate result in a higher obligation while an increase in the discount rate results in a lower obligation. The liability to a related party is measured based upon certain investments held by the Company, the fair value of which is determined using NAV one quarter in arrears.

Interest rate derivatives include interest rate swaps. The fair value of these assets is determined by model-derived valuations in which all significant inputs are observable in active markets.

It is the Company's policy to value financial assets or liabilities transferred as of the beginning of the period in which the transfer occurs. There were no significant transfers of financial assets or liabilities from Level 1 to Level 2 in the three and nine months ended September 30, 2013. During the three months ended September 30, 2012, no financial assets were transferred from Level 1 to Level 2. During the nine months ended September 30, 2012, financial assets valued at $2.0 million were transferred from Level 1 to Level 2.

Level 3 Financial Assets and Liabilities

The following table presents the changes in Level 3 financial assets and liabilities for the three and nine months ended September 30, 2012 and 2013:



	For the Three Months Ended
	September 30, 2012											September 30, 2013
	Other Investments				Contingent Payment Arrangements			Obligations to Related Parties				Other Investments				Contingent Payment Arrangements			Obligations to Related Parties
Balance, beginning of period	$	113.0			$	62.5		$	79.5			$	124.4			$	44.3		$	96.6
Net realized gains/losses	(0.1		)	⁽¹⁾	—			0.5			⁽³⁾	(0.5		)	⁽¹⁾	—			1.1			⁽³⁾
Net unrealized gains/losses relating to instruments still held at the reporting date	1.6			⁽¹⁾	3.5		⁽²⁾	0.2			⁽³⁾	4.7			⁽¹⁾	1.8		⁽²⁾	(0.1		)	⁽³⁾
Purchases and issuances	3.5				—			1.7				2.2				—			23.1
Settlements and reductions	(1.3		)		—			(6.1		)		(4.5		)		—			(22.0		)
Net transfers in and/or out of Level 3	—				—			—				—				—			—
Balance, end of period	$	116.7			$	66.0		$	75.8			$	126.3			$	46.1		$	98.7



	For the Nine Months Ended
	September 30, 2012												September 30, 2013
	Other Investments				Contingent Payment Arrangements				Obligations to related parties				Other Investments				Contingent Payment Arrangements			Obligations to related parties
Balance, beginning of period	$	103.4			$	87.1			$	92.0			$	118.9			$	31.0		$	77.8
Net realized gains/losses	(1.7		)	⁽¹⁾	—				0.9			⁽³⁾	(1.9		)	⁽¹⁾	—			3.1			⁽³⁾
Net unrealized gains/losses relating to instruments still held at the reporting date	7.7			⁽¹⁾	(45.9		)	⁽²⁾	0.9			⁽³⁾	11.1			⁽¹⁾	15.1		⁽²⁾	0.1			⁽³⁾
Purchases and issuances	13.4				24.8				22.1				9.9				—			55.1
Settlements and reductions	(6.1		)		—				(40.1		)		(11.7		)		—			(37.4		)
Net transfers in and/or out of Level 3	—				—				—				—				—			—
Balance, end of period	$	116.7			$	66.0			$	75.8			$	126.3			$	46.1		$	98.7

___________________________________________________________


(1)	Gains and losses on Other investments are recorded in Investment and other income.


(2)	Accretion and changes to payment estimates under the Company's contingent payment arrangements are recorded in Imputed interest and contingent payment arrangements and foreign currency translation adjustments related to such arrangements are recorded as Other comprehensive income.


(3)	Gains and losses associated with agreements to repurchase Affiliate equity are recorded in Imputed interest and contingent payment arrangements. Gains and losses related to liabilities offsetting certain investments are recorded in Investment and other income.

The following table presents certain quantitative information about the significant unobservable inputs used in valuing our Level 3 financial liabilities:

Quantitative Information about Level 3 Fair Value Measurements

Valuation

Techniques

Unobservable

Input

Fair Value at
December 31,
2012

Range at
December 31, 2012

Fair Value at September 30, 2013

Range at September 30, 2013

Contingent payment arrangements

Discounted cash flow

Growth rates

31.0

6.0% – 12.0%

46.1

0.4% - 10.5%

Discount rates

14.0% – 18.0%

Affiliate equity repurchase obligations

Discounted cash flow

Growth rates

9.4

(10.0)% – 17.0%

30.5

4.2% - 12.3%

Discount rates

15.0% – 24.0%

16.0% - 18.0%

Investments in Certain Entities that Calculate Net Asset Value

The Company relies on the NAV of certain investments as their fair value. The NAVs that have been provided by the investees have been derived from the fair values of the underlying investments. The following table summarizes, as of December 31, 2012 and September 30, 2013, the nature of these investments and any related liquidation restrictions or other factors which may impact the ultimate value realized:



	December 31, 2012				September 30, 2013
Category of Investment	Fair Value		Unfunded Commitments		Fair Value		Unfunded Commitments
Private equity fund-of-funds⁽¹⁾	$	118.9	$	75.4	$	126.3	$	71.6
Other funds⁽²⁾	68.9		—		79.9		—
	$	187.8	$	75.4	$	206.2	$	71.6

___________________________________________________________


(1)	These funds primarily invest in a broad range of private equity funds, as well as making direct investments. Distributions will be received as the underlying assets are liquidated over the life of the funds.


(2)	These are multi-disciplinary funds that invest across various asset classes and strategies, including long/short equity, credit and real estate. Investments are generally redeemable on a daily or quarterly basis.

There are no current plans to sell any of these investments.

Other Financial Assets and Liabilities Not Carried at Fair Value

The carrying amount of cash, cash equivalents, advisory fees receivable, short-term investments, unsettled fund shares receivable and payable, accounts payable and accrued liabilities approximates fair value because of the short-term nature of these instruments. The carrying value of notes receivable approximates fair value because interest rates and other terms are at market rates. The carrying value of senior bank debt approximates fair value because the debt is a credit facility with variable interest based on selected short-term rates. The following table summarizes the Company's other financial liabilities not carried at fair value:



	December 31, 2012				September 30, 2013
	Carrying Value		Fair Market Value		Carrying Value		Fair Market Value		Fair Value Hierarchy
Senior notes	$	340.0	$	351.8	$	340.0	$	324.2	Level 2
Senior convertible securities	450.1		510.6		—		—		Level 2
Junior convertible trust preferred securities	515.5		719.9		517.9		870.2		Level 2

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Intangible Assets	9 Months Ended
Intangible Assets	Sep. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Consolidated Affiliates The intangible assets of our consolidated Affiliates consist of definite and indefinite-lived acquired client relationships and goodwill. Definite-lived acquired client relationships are amortized over their expected useful lives. As of September 30, 2013, these relationships were being amortized over a weighted average life of approximately eleven years. The Company recognized amortization expense and a reduction in the carrying value of an indefinite-lived asset at one of its Affiliates of $24.0 million and $169.1 million, respectively, for the three and nine months ended September 30, 2012. The Company recognized amortization expense of $32.7 million and $98.1 million, respectively, for the three and nine months ended September 30, 2013. The Company estimates that its consolidated annual amortization expense will be approximately $100.0 million for each of the next five years, assuming no additional investments in new or existing Affiliates. Other than changes related to foreign currency translation, there were no significant changes to goodwill or indefinite-lived acquired client relationships during the three and nine months ended September 30, 2013. The Company performed its annual goodwill assessment as of September 30, 2013 and no impairments were identified. Equity Method Investments in Affiliates The intangible assets at our equity method Affiliates consist of definite-lived acquired client relationships and goodwill. Definite-lived acquired client relationships are amortized over their expected useful lives. As of September 30, 2013, these relationships were being amortized over a weighted average life of approximately nine years. The Company recognized amortization expense for these relationships of $10.2 million and $26.5 million, respectively, for three and nine months ended September 30, 2012 as compared to $10.4 million and $31.1 million, respectively, for the three and nine months ended September 30, 2013. Assuming no additional investments in new or existing Affiliates, the Company estimates the annual amortization expense for the next five years will be approximately $42.0 million in 2013, $20.0 million in 2014 and $10.0 million in each of 2015, 2016 and 2017. There were no significant changes to goodwill during the three and nine months ended September 30, 2013.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Share-Based Compensation

9 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

Net income (controlling interest) for the three and nine months ended September 30, 2012 includes compensation expense of $5.0 million and $14.9 million, respectively (net of income tax benefits of $3.1 million and $9.2 million, respectively), related to the Company's Stock Option and Incentive, Executive Incentive, Long-Term Equity Interests and Deferred Compensation Plans as compared to compensation expense of $5.5 million and $16.4 million, respectively (net of income tax benefits of $3.5 million and $10.3 million, respectively), for the three and nine months ended September 30, 2013. As of September 30, 2013, the Company expects to recognize compensation expense related to these share-based compensation arrangements of $53.4 million over a period of approximately three years (assuming no forfeitures).

Stock Options

The following table summarizes the transactions of the Company's stock options:



	Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)
Unexercised options outstanding—December 31, 2012	3.8		$	74.04
Options granted	0.0		175.28
Options exercised	(0.8	)	62.45
Unexercised options outstanding—September 30, 2013	3.0		77.38		3.7
Exercisable at September 30, 2013	1.8		71.69		3.3

Restricted Stock

The following table summarizes the transactions of the Company's restricted stock units:



	Restricted Stock		Weighted Average Grant Date Value
Unvested units—December 31, 2012	0.4		$	84.53
Units granted	0.0		174.91
Units issued	(0.1	)	85.63
Unvested units—September 30, 2013	0.3		86.31

Long-Term Equity Interests Plan

During the nine months ended September 30, 2013, the Company repurchased $3.2 million of these awards, and no awards were granted or forfeited.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Affiliate Equity

9 Months Ended

Sep. 30, 2013

Affiliate Equity

Affiliate Equity

The Company recognized compensation expense related to Affiliate equity of $6.5 million and $21.6 million, respectively ($2.3 million and $9.4 million attributable to the controlling interest), for the three and nine months ended September 30, 2012 as compared to $4.7 million and $22.2 million, respectively ($2.5 million and $10.9 million attributable to the controlling interest), for the three and nine months ended September 30, 2013.

The Company has a conditional right to call and holders of non-controlling interests have a conditional right to put their equity interests at certain intervals. The current redemption value of these interests has been presented as Redeemable non-controlling interests on the Consolidated Balance Sheets. Changes in the current redemption value are recorded to Additional paid-in capital. The following table presents the changes in Redeemable non-controlling interests during the period:



Balance, as of December 31, 2012	$	477.5
Transactions in Redeemable non-controlling interests	(40.0		)
Changes in redemption value	176.6
Balance, as of September 30, 2013	$	614.1

During the three and nine months ended September 30, 2012 and 2013, the Company acquired interests from, and transferred interests to, Affiliate management partners. The following schedule discloses the effect of changes in the Company's ownership interest in its Affiliates on the controlling interest's equity:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2013		2012			2013
Net income (controlling interest)	$	54.9	$	75.2	$	98.9		$	202.3
Increase (decrease) in controlling interest paid-in capital from purchases and sales of Affiliate equity	1.1		0.9		(7.5		)	(23.1		)
Change from Net income (controlling interest) and net transfers with non-controlling interests	$	56.0	$	76.1	$	91.4		$	179.2

Income Taxes

9 Months Ended

Sep. 30, 2013

Income Tax Disclosure [Abstract]

Income Taxes

The consolidated income tax provision includes taxes attributable to the controlling interest and, to a lesser extent, taxes attributable to non-controlling interests as follows:



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2013			2012			2013
Controlling Interests:
Current tax	$	8.8		$	32.7		$	31.1		$	73.6
Intangible-related deferred taxes	11.7			5.2			0.1			29.4
Other deferred taxes	(1.2		)	(6.3		)	4.9			(1.4		)
Total controlling interests	19.3			31.6			36.1			101.6
Non-controlling Interests:
Current tax	$	2.8		$	3.1		$	9.1		$	9.0
Deferred taxes	(2.7		)	(3.7		)	0.8			(4.0		)
Total non-controlling interests	0.1			(0.6		)	9.9			5.0
Provision for income taxes	$	19.4		$	31.0		$	46.0		$	106.6
Income before income taxes (controlling interest)	$	74.2		$	106.8		$	135.0		$	303.9
Effective tax rate attributable to controlling interests⁽¹⁾	26.0		%	29.6		%	26.7		%	33.4		%

___________________________________________________________


(1)	Taxes attributable to the controlling interest divided by Income before income taxes (controlling interest).

During the three and nine months ended September 30, 2012, the Company recognized a deferred tax benefit of $7.2 million ($4.8 million attributable to the controlling interest) from the revaluation of its deferred taxes as a result of a reduction of corporate tax rates in the United Kingdom and reduced its deferred tax valuation allowance by $3.1 million and $8.3 million, respectively, primarily related to indirect tax benefits from foreign tax positions.

During the three and nine months ended September 30, 2013, the Company recognized a deferred tax benefit of $11.1 million ($7.5 million attributable to the controlling interest) from the revaluation of its deferred taxes as a result of a reduction of corporate tax rates in the United Kingdom. The Company also reduced its deferred tax valuation allowance by $1.6 million in the nine months ended September 30, 2013, primarily related to indirect tax benefits from foreign tax positions.

The components of deferred tax assets and liabilities are as follows:



	December 31, 2012			September 30, 2013
Deferred Tax Assets
State net operating loss carryforwards	$	23.9		$	27.5
Deferred compensation	23.9			27.2
Foreign tax credit carryforwards	20.1			10.2
Tax benefit of uncertain tax positions	17.6			16.3
Accrued expenses	6.0			11.3
Capital loss carryforwards	1.5			1.5
Total deferred tax assets	93.0			94.0
Valuation allowance	(21.3		)	(24.9		)
Deferred tax assets, net of valuation allowance	71.7			69.1
Deferred Tax Liabilities
Intangible asset amortization	$	(238.2	)	$	(265.4	)
Convertible securities interest	(189.2		)	(142.1		)
Non-deductible intangible amortization	(120.1		)	(103.1		)
Deferred revenue	(18.5		)	(17.1		)
Other	(2.8		)	(2.8		)
Total deferred tax liabilities	(568.8		)	(530.5		)
Net deferred tax liability	$	(497.1	)	$	(461.4	)

Deferred tax liabilities are primarily the result of tax deductions for the Company's intangible assets and convertible securities. The Company amortizes most of its intangible assets for tax purposes only, reducing its tax basis below its carrying value for financial statement purposes and generating deferred taxes each reporting period. The Company's 2008 senior convertible notes and junior convertible trust preferred securities also generate deferred taxes because the Company's tax deductions are higher than the interest expense recorded for financial statement purposes. In the nine months ended September 30, 2013, $50.6 million of deferred tax liabilities were reclassified to stockholders' equity related to the settlement of the 2008 senior convertible notes.

At September 30, 2013, the Company has state net operating loss carryforwards that expire over a 15-year period beginning in 2013. The Company also has foreign tax credit carryforwards that expire over a 10-year period beginning in 2013. The valuation allowances at December 31, 2012 and September 30, 2013 were principally related to the Company's projections of taxable income prior to the expiration of these state and federal carryforwards.

As of September 30, 2013, the Company carried a liability for uncertain tax positions of $20.9 million, including $2.1 million for interest and related charges. At September 30, 2013 this liability also included $17.7 million for tax positions that, if recognized, would affect the Company's effective tax rate.

The Company periodically has tax examinations in the United States and foreign jurisdictions. Examination outcomes, and any related settlements, are subject to significant uncertainty. The completion of examinations may result in the payment of additional taxes and/or the recognition of tax benefits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

The calculation of basic earnings per share is based on the weighted average number of shares of the Company's common stock outstanding during the period. Diluted earnings per share is similar to basic earnings per share, but adjusts for the dilutive effect of the potential issuance of incremental shares of the Company's common stock. The following is a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share available to common stockholders.



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2013		2012		2013
Numerator
Net income (controlling interest)	$	54.9	$	75.2	$	98.9	$	202.3
Convertible securities interest expense, net	—		2.6		—		—
Net income (controlling interest), as adjusted	$	54.9	$	77.8	$	98.9	$	202.3
Denominator
Average shares outstanding—basic	51.7		53.2		51.6		53.0
Effect of dilutive instruments:
Contingently convertible securities	—		2.0		—		—
Stock options and restricted stock	1.3		1.3		1.3		1.4
Forward equity sales	—		0.4		—		0.3
Average shares outstanding—diluted	53.0		56.9		52.9		54.7

The diluted earnings per share calculations in the table above exclude the anti-dilutive effect of the following shares:



	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2012	2013	2012	2013
Stock options and restricted stock	0.6	0.0	0.6	0.0
Senior convertible securities	3.7	1.3	3.7	2.9
Junior convertible trust preferred securities	4.2	2.2	4.2	4.2
Forward equity sales	0.3	—	0.3	—

The Company had convertible securities outstanding during the periods presented and is required to apply the if-converted method to these securities in its calculation of diluted earnings per share. Under the if-converted method, shares that are issuable upon conversion are deemed outstanding, regardless of whether the securities are contractually convertible into the Company's common stock at that time. For this calculation, the interest expense (net of tax) attributable to these dilutive securities is added back to Net income (controlling interest), reflecting the assumption that the securities have been converted. Issuable shares for these securities and related interest expense are excluded from the calculation if an assumed conversion would be anti-dilutive to diluted earnings per share.

The Company may settle portions of its Affiliate equity and Long-Term Equity Interests Plan awards in shares of its common stock. Because it is the Company's intent to settle these potential repurchases in cash, the calculation of diluted earnings per share excludes any potential dilutive effect from possible share settlements.

Comprehensive Income

9 Months Ended

Sep. 30, 2013

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income

The following table shows the tax effects allocated to each component of Other comprehensive income:



	For the Three Months Ended
	September 30, 2012									September 30, 2013
	Pre-Tax			Tax Benefit (Expense)			Net of Tax			Pre-Tax		Tax Benefit (Expense)			Net of Tax
Foreign currency translation adjustment	$	15.2		$	—		$	15.2		$	18.1	$	—		$	18.1
Change in net realized and unrealized loss on derivative securities	(0.5		)	0.2			(0.3		)	—		—			—
Change in net unrealized gain on investment securities	1.9			(0.7		)	1.2			10.2		(3.9		)	6.3
Other comprehensive income	$	16.6		$	(0.5	)	$	16.1		$	28.3	$	(3.9	)	$	24.4



	For the Nine Months Ended
	September 30, 2012								September 30, 2013
	Pre-Tax			Tax Benefit (Expense)		Net of Tax			Pre-Tax			Tax Benefit (Expense)			Net of Tax
Foreign currency translation adjustment	$	19.7		$	—	$	19.7		$	(14.4	)	$	—		$	(14.4	)
Change in net realized and unrealized gain (loss) on derivative securities	(1.4		)	0.5		(0.9		)	1.3			(0.5		)	0.8
Change in net unrealized loss on investment securities	(1.8		)	0.7		(1.1		)	(5.6		)	1.7			(3.9		)
Other comprehensive income (loss)	$	16.5		$	1.2	$	17.7		$	(18.7	)	$	1.2		$	(17.5	)

The components of Accumulated other comprehensive income, net of taxes, are as follows:



	Foreign Currency Translation Adjustment			Realized and Unrealized Losses on Derivative Securities			Unrealized Gain (Loss) on Investment Securities			Total
Balance, as of December 31, 2012	$	76.2		$	(2.9	)	$	8.0		$	81.3
Other comprehensive income before reclassifications	(14.4		)	0.8			(2.4		)	(16.0		)
Amounts reclassified from other comprehensive income	—			—			(1.5		)	(1.5		)
Net other comprehensive income	(14.4		)	0.8			(3.9		)	(17.5		)
Balance, as of September 30, 2013	$	61.8		$	(2.1	)	$	4.1		$	63.8

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e716-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e640-108580

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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e681-108580

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14-26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Segment Information

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Segment Information

Management has assessed and determined that the Company operates in three business segments representing the Company's three principal distribution channels: Institutional, Mutual Fund and High Net Worth, each of which has different client relationships.

Revenue in the Institutional distribution channel is earned from relationships with public and private client entities, including pension plans, foundations, endowments and sovereign wealth funds. Revenue in the Mutual Fund distribution channel is earned from advisory and sub-advisory relationships with all domestically-registered investment products as well as non-institutional investment products that are registered abroad. Revenue in the High Net Worth distribution channel is earned from relationships with ultra-high net worth individuals, families and charitable foundations.

Revenue earned from client relationships managed by Affiliates accounted for under the equity method is not consolidated with the Company's reported Revenue but instead is included (net of operating expenses, including amortization) in Income from equity method investments, and reported in the distribution channel in which the Affiliate operates. Income tax attributable to the profits of the Company's equity method Affiliates is reported within the Company's consolidated income tax provision.

In firms with revenue sharing arrangements, a certain percentage of revenue is allocated for use by management of an Affiliate in paying operating expenses of that Affiliate, including salaries and bonuses, and is called an "Operating Allocation." In reporting segment operating expenses, Affiliate expenses are allocated to a particular segment on a pro rata basis with respect to the revenue generated by that Affiliate in such segment. Generally, as revenue increases, additional compensation is typically paid to Affiliate management partners from the Operating Allocation. As a result, the contractual expense allocation pursuant to a revenue sharing arrangement may result in the characterization of any growth in profit margin beyond the Company's Owners' Allocation as an operating expense. All other operating expenses (excluding intangible amortization) and interest expense have been allocated to segments based on the proportion of cash flow distributions reported by Affiliates in each segment.

Statements of Income



	Three Months Ended September 30, 2012
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	210.7		$	208.3		$	48.3		$	467.3
Operating expenses:
Depreciation, intangible amortization and impairments	19.0			5.4			3.1			27.5
Other operating expenses	131.5			139.1			29.5			300.1
	150.5			144.5			32.6			327.6
Operating income	60.2			63.8			15.7			139.7
Income from equity method investments	14.8			3.2			1.4			19.4
Other non-operating (income) and expenses:
Investment and other income	(2.8		)	(3.2		)	(0.9		)	(6.9		)
Interest expense	12.0			7.5			2.3			21.8
Imputed interest and contingent payment arrangements	3.0			3.2			0.5			6.7
	12.2			7.5			1.9			21.6
Income before income taxes	62.8			59.5			15.2			137.5
Income taxes	9.4			7.5			2.5			19.4
Net income	53.4			52.0			12.7			118.1
Net income (non-controlling interests)	(28.5		)	(27.3		)	(7.4		)	(63.2		)
Net income (controlling interest)	$	24.9		$	24.7		$	5.3		$	54.9



	Three Months Ended September 30, 2013
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	229.1		$	268.0		$	54.5		$	551.6
Operating expenses:
Depreciation, intangible amortization and impairments	17.6			15.6			2.9			36.1
Other operating expenses	140.3			174.7			31.4			346.4
	157.9			190.3			34.3			382.5
Operating income	71.2			77.7			20.2			169.1
Income from equity method investments	27.7			4.0			2.4			34.1
Other non-operating (income) and expenses:
Investment and other income	(3.9		)	(3.8		)	(0.3		)	(8.0		)
Interest expense	10.6			7.3			2.0			19.9
Imputed interest and contingent payment arrangements	1.2			2.5			0.2			3.9
	7.9			6.0			1.9			15.8
Income before income taxes	91.0			75.7			20.7			187.4
Income taxes	17.9			8.8			4.3			31.0
Net income	73.1			66.9			16.4			156.4
Net income (non-controlling interests)	(33.3		)	(39.1		)	(8.8		)	(81.2		)
Net income (controlling interest)	$	39.8		$	27.8		$	7.6		$	75.2



	Nine Months Ended September 30, 2012
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	636.8		$	557.4		$	120.3		$	1,314.5
Operating expenses:
Depreciation, intangible amortization and impairments	57.8			115.1			6.8			179.7
Other operating expenses	400.9			385.2			75.2			861.3
	458.7			500.3			82.0			1,041.0
Operating income	178.1			57.1			38.3			273.5
Income from equity method investments	34.6			8.5			4.2			47.3
Other non-operating (income) and expenses:
Investment and other income	(10.9		)	(7.5		)	(1.9		)	(20.3		)
Interest expense	33.7			19.5			5.6			58.8
Imputed interest and contingent payment arrangements	(12.1		)	(24.7		)	1.1			(35.7		)
	10.7			(12.7		)	4.8			2.8
Income before income taxes	202.0			78.3			37.7			318.0
Income taxes	39.2			—			6.8			46.0
Net income	162.8			78.3			30.9			272.0
Net income (non-controlling interests)	(85.8		)	(70.0		)	(17.3		)	(173.1		)
Net income (controlling interest)	$	77.0		$	8.3		$	13.6		$	98.9



	Nine Months Ended September 30, 2013
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	694.6		$	741.5		$	158.7		$	1,594.8
Operating expenses:
Depreciation, intangible amortization and impairments	57.1			42.0			9.3			108.4
Other operating expenses	429.8			483.2			92.4			1,005.4
	486.9			525.2			101.7			1,113.8
Operating income	207.7			216.3			57.0			481.0
Income from equity method investments	102.1			11.7			7.2			121.0
Other non-operating (income) and expenses:
Investment and other income	(9.8		)	(9.2		)	(1.0		)	(20.0		)
Interest expense	38.4			23.5			6.6			68.5
Imputed interest and contingent payment arrangements	8.2			16.7			1.6			26.5
	36.8			31.0			7.2			75.0
Income before income taxes	273.0			197.0			57.0			527.0
Income taxes	60.6			34.6			11.4			106.6
Net income	212.4			162.4			45.6			420.4
Net income (non-controlling interests)	(97.8		)	(95.2		)	(25.1		)	(218.1		)
Net income (controlling interest)	$	114.6		$	67.2		$	20.5		$	202.3
Total assets as of December 31, 2012	3,176.5			2,354.8			655.8			6,187.1
Total assets as of September 30, 2013	2,964.6			2,633.5			663.0			6,261.1

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Investments in Marketable Securities (Tables)

9 Months Ended

Sep. 30, 2013

Marketable Securities [Abstract]

Summary of the cost, gross unrealized gains and losses and fair value of investments classified as available-for-sale and trading

The following is a summary of the cost, gross unrealized gains and losses and fair value of investments classified as available-for-sale and trading at December 31, 2012 and September 30, 2013:



	Available-for-Sale						Trading
	December 31, 2012			September 30, 2013			December 31, 2012			September 30, 2013
Cost	$	103.2		$	104.0		$	10.3		$	18.2
Unrealized Gains	15.3			9.5			6.5			3.7
Unrealized Losses	(3.2		)	(2.5		)	(3.2		)	—
Fair Value	$	115.3		$	111.0		$	13.6		$	21.9

Summary of the Company's realized gains and losses on investments classified as available-for-sale and trading

The following is a summary of the Company's realized gains and losses on investments classified as available-for-sale and trading:



	Available-for-Sale								Trading
	For the Three Months Ended September 30,				For the Nine Months Ended September 30,				For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2013		2012		2013		2012		2013		2012			2013
Gains	$	0.1	$	—	$	0.1	$	2.1	$	0.2	$	0.2	$	0.8		$	0.6
Losses	—		—		—		—		0.0		—		(0.3		)	—
Net realized gains	$	0.1	$	—	$	0.1	$	2.1	$	0.2	$	0.2	$	0.5		$	0.6

- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (c)-(e)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2013

Variable Interest Entities

Schedule of net assets and liabilities and maximum risk of losses related to unconsolidated VIEs

The net assets and liabilities of the Company's unconsolidated VIEs and its maximum risk of loss related thereto are as follows:



	December 31, 2012				September 30, 2013
Category of Investment	Unconsolidated VIE Net Assets		Carrying Value and Maximum Exposure to Loss		Unconsolidated VIE Net Assets		Carrying Value and Maximum Exposure to Loss
Sponsored investment funds	$	7,186.9	$	0.8	$	7,994.4	$	1.6
Trust preferred vehicles	9.0		9.0		9.0		9.0

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7880789&loc=d3e5710-111685

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=7880789&loc=SL6759159-111685

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 140
-Paragraph 35
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 2, 14, 15, 16, 23, 24, 25, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Paragraph 24
-Appendix D

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS140-4/FIN46(R)-8
-Paragraph C4
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Paragraph 22B
-Appendix D

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Paragraph 23A
-Appendix D

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Paragraph 22E
-Appendix D

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-Subparagraph g
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of amount of derivative instrument gains and (losses) before taxes

The following summarizes the amount of derivative instrument gains and losses reported in the Consolidated Statements of Comprehensive Income:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Cash Flow Hedges	2012			2013	2012			2013
Interest rate swaps	$	(0.5	)	$ (0.0)	$	(1.4	)	$	1.3

Schedule of location and fair values of derivative instruments on the Consolidated Balance Sheet

The following summarizes the location and fair values of derivative instruments on the Consolidated Balance Sheets:



Cash Flow Hedges	December 31, 2012			September 30, 2013
Interest rate swaps⁽¹⁾	$	(4.0	)	$	(2.7	)

___________________________________________________________


(1)	Presented within Other long-term liabilities.

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Schedule of fair value of financial assets and financial liabilities measured on a recurring basis

The following table summarizes the Company's financial assets and liabilities that are measured at fair value on a recurring basis:



			Fair Value Measurements
	December 31, 2012		Fair Value Measurements
	December 31, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Financial Assets
Cash equivalents	$	13.5	$	13.5	$	—	$	—
Investments in marketable securities⁽¹⁾
Trading securities	13.6		13.6		—		—
Available-for-sale securities	115.3		115.3		—		—
Other investments⁽²⁾	155.4		15.7		20.8		118.9
Financial Liabilities
Contingent payment arrangements⁽³⁾	$	31.0	$	—	$	—	$	31.0
Obligations to related parties⁽⁴⁾	77.8		—		—		77.8
Interest rate derivatives⁽⁵⁾	4.0		—		4.0		—



			Fair Value Measurements
	September 30, 2013		Fair Value Measurements
	September 30, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Financial Assets
Cash equivalents	$	32.1	$	32.1	$	—	$	—
Investments in marketable securities⁽¹⁾
Trading securities	21.9		21.9		—		—
Available-for-sale securities	111.0		111.0		—		—
Other investments⁽²⁾	157.9		13.1		18.5		126.3
Financial Liabilities
Contingent payment arrangements⁽³⁾	$	46.1	$	—	$	—	$	46.1
Obligations to related parties⁽⁴⁾	98.7		—		—		98.7
Interest rate derivatives⁽⁵⁾	2.7		—		2.7		—

___________________________________________________________


(1)	Principally investments in equity securities.


(2)	Other investments are reported within Prepaid expenses and other current assets and Other assets.


(3)	Net present value of expected payments under contingent payment arrangements are reported in Accounts payable and accrued liabilities and Other long-term liabilities.


(4)	Obligations to related parties are presented within Payables to related party and Other long-term liabilities.


(5)	Interest rate derivatives are presented within Other long-term liabilities.

Schedule of presents certain quantitative information about the significant unobservable inputs used in valuing our Level 3 financial liabilities:

The following table presents certain quantitative information about the significant unobservable inputs used in valuing our Level 3 financial liabilities:

Quantitative Information about Level 3 Fair Value Measurements

Valuation

Techniques

Unobservable

Input

Fair Value at
December 31,
2012

Range at
December 31, 2012

Fair Value at September 30, 2013

Range at September 30, 2013

Contingent payment arrangements

Discounted cash flow

Growth rates

31.0

6.0% – 12.0%

46.1

0.4% - 10.5%

Discount rates

14.0% – 18.0%

Affiliate equity repurchase obligations

Discounted cash flow

Growth rates

9.4

(10.0)% – 17.0%

30.5

4.2% - 12.3%

Discount rates

15.0% – 24.0%

16.0% - 18.0%

Schedule of changes in Level 3 financial assets and financial liabilities

The following table presents the changes in Level 3 financial assets and liabilities for the three and nine months ended September 30, 2012 and 2013:



	For the Three Months Ended
	September 30, 2012											September 30, 2013
	Other Investments				Contingent Payment Arrangements			Obligations to Related Parties				Other Investments				Contingent Payment Arrangements			Obligations to Related Parties
Balance, beginning of period	$	113.0			$	62.5		$	79.5			$	124.4			$	44.3		$	96.6
Net realized gains/losses	(0.1		)	⁽¹⁾	—			0.5			⁽³⁾	(0.5		)	⁽¹⁾	—			1.1			⁽³⁾
Net unrealized gains/losses relating to instruments still held at the reporting date	1.6			⁽¹⁾	3.5		⁽²⁾	0.2			⁽³⁾	4.7			⁽¹⁾	1.8		⁽²⁾	(0.1		)	⁽³⁾
Purchases and issuances	3.5				—			1.7				2.2				—			23.1
Settlements and reductions	(1.3		)		—			(6.1		)		(4.5		)		—			(22.0		)
Net transfers in and/or out of Level 3	—				—			—				—				—			—
Balance, end of period	$	116.7			$	66.0		$	75.8			$	126.3			$	46.1		$	98.7



	For the Nine Months Ended
	September 30, 2012												September 30, 2013
	Other Investments				Contingent Payment Arrangements				Obligations to related parties				Other Investments				Contingent Payment Arrangements			Obligations to related parties
Balance, beginning of period	$	103.4			$	87.1			$	92.0			$	118.9			$	31.0		$	77.8
Net realized gains/losses	(1.7		)	⁽¹⁾	—				0.9			⁽³⁾	(1.9		)	⁽¹⁾	—			3.1			⁽³⁾
Net unrealized gains/losses relating to instruments still held at the reporting date	7.7			⁽¹⁾	(45.9		)	⁽²⁾	0.9			⁽³⁾	11.1			⁽¹⁾	15.1		⁽²⁾	0.1			⁽³⁾
Purchases and issuances	13.4				24.8				22.1				9.9				—			55.1
Settlements and reductions	(6.1		)		—				(40.1		)		(11.7		)		—			(37.4		)
Net transfers in and/or out of Level 3	—				—				—				—				—			—
Balance, end of period	$	116.7			$	66.0			$	75.8			$	126.3			$	46.1		$	98.7

___________________________________________________________


(1)	Gains and losses on Other investments are recorded in Investment and other income.


(2)	Accretion and changes to payment estimates under the Company's contingent payment arrangements are recorded in Imputed interest and contingent payment arrangements and foreign currency translation adjustments related to such arrangements are recorded as Other comprehensive income.


(3)	Gains and losses associated with agreements to repurchase Affiliate equity are recorded in Imputed interest and contingent payment arrangements. Gains and losses related to liabilities offsetting certain investments are recorded in Investment and other income.

Schedule of investments

The following table summarizes, as of December 31, 2012 and September 30, 2013, the nature of these investments and any related liquidation restrictions or other factors which may impact the ultimate value realized:



	December 31, 2012				September 30, 2013
Category of Investment	Fair Value		Unfunded Commitments		Fair Value		Unfunded Commitments
Private equity fund-of-funds⁽¹⁾	$	118.9	$	75.4	$	126.3	$	71.6
Other funds⁽²⁾	68.9		—		79.9		—
	$	187.8	$	75.4	$	206.2	$	71.6

___________________________________________________________


(1)	These funds primarily invest in a broad range of private equity funds, as well as making direct investments. Distributions will be received as the underlying assets are liquidated over the life of the funds.


(2)	These are multi-disciplinary funds that invest across various asset classes and strategies, including long/short equity, credit and real estate. Investments are generally redeemable on a daily or quarterly basis.

Summary of other financial liabilities not carried at fair value

The following table summarizes the Company's other financial liabilities not carried at fair value:



	December 31, 2012				September 30, 2013
	Carrying Value		Fair Market Value		Carrying Value		Fair Market Value		Fair Value Hierarchy
Senior notes	$	340.0	$	351.8	$	340.0	$	324.2	Level 2
Senior convertible securities	450.1		510.6		—		—		Level 2
Junior convertible trust preferred securities	515.5		719.9		517.9		870.2		Level 2

Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of transactions of the Company's stock options

The following table summarizes the transactions of the Company's stock options:



	Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)
Unexercised options outstanding—December 31, 2012	3.8		$	74.04
Options granted	0.0		175.28
Options exercised	(0.8	)	62.45
Unexercised options outstanding—September 30, 2013	3.0		77.38		3.7
Exercisable at September 30, 2013	1.8		71.69		3.3

Summary of transactions of the Company's restricted stock

The following table summarizes the transactions of the Company's restricted stock units:



	Restricted Stock		Weighted Average Grant Date Value
Unvested units—December 31, 2012	0.4		$	84.53
Units granted	0.0		174.91
Units issued	(0.1	)	85.63
Unvested units—September 30, 2013	0.3		86.31

Affiliate Equity (Tables)

9 Months Ended

Sep. 30, 2013

Affiliate Equity

Schedule of the changes in redeemable non-controlling interests

The following table presents the changes in Redeemable non-controlling interests during the period:



Balance, as of December 31, 2012	$	477.5
Transactions in Redeemable non-controlling interests	(40.0		)
Changes in redemption value	176.6
Balance, as of September 30, 2013	$	614.1

Schedule of the effect of changes in the entity's ownership interest in its affiliates on the controlling interest's equity

The following schedule discloses the effect of changes in the Company's ownership interest in its Affiliates on the controlling interest's equity:



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2013		2012			2013
Net income (controlling interest)	$	54.9	$	75.2	$	98.9		$	202.3
Increase (decrease) in controlling interest paid-in capital from purchases and sales of Affiliate equity	1.1		0.9		(7.5		)	(23.1		)
Change from Net income (controlling interest) and net transfers with non-controlling interests	$	56.0	$	76.1	$	91.4		$	179.2

- Definition

Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 40
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 41
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 42
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 25
-Appendix A

+ Details

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2013

Income Tax Disclosure [Abstract]

Schedule of income tax provision attributable to controlling Interests and to non-controlling interests

The consolidated income tax provision includes taxes attributable to the controlling interest and, to a lesser extent, taxes attributable to non-controlling interests as follows:



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2013			2012			2013
Controlling Interests:
Current tax	$	8.8		$	32.7		$	31.1		$	73.6
Intangible-related deferred taxes	11.7			5.2			0.1			29.4
Other deferred taxes	(1.2		)	(6.3		)	4.9			(1.4		)
Total controlling interests	19.3			31.6			36.1			101.6
Non-controlling Interests:
Current tax	$	2.8		$	3.1		$	9.1		$	9.0
Deferred taxes	(2.7		)	(3.7		)	0.8			(4.0		)
Total non-controlling interests	0.1			(0.6		)	9.9			5.0
Provision for income taxes	$	19.4		$	31.0		$	46.0		$	106.6
Income before income taxes (controlling interest)	$	74.2		$	106.8		$	135.0		$	303.9
Effective tax rate attributable to controlling interests⁽¹⁾	26.0		%	29.6		%	26.7		%	33.4		%

___________________________________________________________


(1)	Taxes attributable to the controlling interest divided by Income before income taxes (controlling interest).

Schedule of components of deferred tax assets and liabilities

The components of deferred tax assets and liabilities are as follows:



	December 31, 2012			September 30, 2013
Deferred Tax Assets
State net operating loss carryforwards	$	23.9		$	27.5
Deferred compensation	23.9			27.2
Foreign tax credit carryforwards	20.1			10.2
Tax benefit of uncertain tax positions	17.6			16.3
Accrued expenses	6.0			11.3
Capital loss carryforwards	1.5			1.5
Total deferred tax assets	93.0			94.0
Valuation allowance	(21.3		)	(24.9		)
Deferred tax assets, net of valuation allowance	71.7			69.1
Deferred Tax Liabilities
Intangible asset amortization	$	(238.2	)	$	(265.4	)
Convertible securities interest	(189.2		)	(142.1		)
Non-deductible intangible amortization	(120.1		)	(103.1		)
Deferred revenue	(18.5		)	(17.1		)
Other	(2.8		)	(2.8		)
Total deferred tax liabilities	(568.8		)	(530.5		)
Net deferred tax liability	$	(497.1	)	$	(461.4	)

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Schedule of reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share

The following is a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share available to common stockholders.



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2013		2012		2013
Numerator
Net income (controlling interest)	$	54.9	$	75.2	$	98.9	$	202.3
Convertible securities interest expense, net	—		2.6		—		—
Net income (controlling interest), as adjusted	$	54.9	$	77.8	$	98.9	$	202.3
Denominator
Average shares outstanding—basic	51.7		53.2		51.6		53.0
Effect of dilutive instruments:
Contingently convertible securities	—		2.0		—		—
Stock options and restricted stock	1.3		1.3		1.3		1.4
Forward equity sales	—		0.4		—		0.3
Average shares outstanding—diluted	53.0		56.9		52.9		54.7

Diluted earnings per share calculations excluding the anti-dilutive effect of shares

The diluted earnings per share calculations in the table above exclude the anti-dilutive effect of the following shares:



	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2012	2013	2012	2013
Stock options and restricted stock	0.6	0.0	0.6	0.0
Senior convertible securities	3.7	1.3	3.7	2.9
Junior convertible trust preferred securities	4.2	2.2	4.2	4.2
Forward equity sales	0.3	—	0.3	—

Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2013

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Summary of the tax effects allocated to each component of Other comprehensive income

The following table shows the tax effects allocated to each component of Other comprehensive income:



	For the Three Months Ended
	September 30, 2012									September 30, 2013
	Pre-Tax			Tax Benefit (Expense)			Net of Tax			Pre-Tax		Tax Benefit (Expense)			Net of Tax
Foreign currency translation adjustment	$	15.2		$	—		$	15.2		$	18.1	$	—		$	18.1
Change in net realized and unrealized loss on derivative securities	(0.5		)	0.2			(0.3		)	—		—			—
Change in net unrealized gain on investment securities	1.9			(0.7		)	1.2			10.2		(3.9		)	6.3
Other comprehensive income	$	16.6		$	(0.5	)	$	16.1		$	28.3	$	(3.9	)	$	24.4



	For the Nine Months Ended
	September 30, 2012								September 30, 2013
	Pre-Tax			Tax Benefit (Expense)		Net of Tax			Pre-Tax			Tax Benefit (Expense)			Net of Tax
Foreign currency translation adjustment	$	19.7		$	—	$	19.7		$	(14.4	)	$	—		$	(14.4	)
Change in net realized and unrealized gain (loss) on derivative securities	(1.4		)	0.5		(0.9		)	1.3			(0.5		)	0.8
Change in net unrealized loss on investment securities	(1.8		)	0.7		(1.1		)	(5.6		)	1.7			(3.9		)
Other comprehensive income (loss)	$	16.5		$	1.2	$	17.7		$	(18.7	)	$	1.2		$	(17.5	)

Schedule of components of Accumulated other comprehensive income, net of taxes

The components of Accumulated other comprehensive income, net of taxes, are as follows:



	Foreign Currency Translation Adjustment			Realized and Unrealized Losses on Derivative Securities			Unrealized Gain (Loss) on Investment Securities			Total
Balance, as of December 31, 2012	$	76.2		$	(2.9	)	$	8.0		$	81.3
Other comprehensive income before reclassifications	(14.4		)	0.8			(2.4		)	(16.0		)
Amounts reclassified from other comprehensive income	—			—			(1.5		)	(1.5		)
Net other comprehensive income	(14.4		)	0.8			(3.9		)	(17.5		)
Balance, as of September 30, 2013	$	61.8		$	(2.1	)	$	4.1		$	63.8

Segment Information (Tables)

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Schedule of segment information

Statements of Income



	Three Months Ended September 30, 2012
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	210.7		$	208.3		$	48.3		$	467.3
Operating expenses:
Depreciation, intangible amortization and impairments	19.0			5.4			3.1			27.5
Other operating expenses	131.5			139.1			29.5			300.1
	150.5			144.5			32.6			327.6
Operating income	60.2			63.8			15.7			139.7
Income from equity method investments	14.8			3.2			1.4			19.4
Other non-operating (income) and expenses:
Investment and other income	(2.8		)	(3.2		)	(0.9		)	(6.9		)
Interest expense	12.0			7.5			2.3			21.8
Imputed interest and contingent payment arrangements	3.0			3.2			0.5			6.7
	12.2			7.5			1.9			21.6
Income before income taxes	62.8			59.5			15.2			137.5
Income taxes	9.4			7.5			2.5			19.4
Net income	53.4			52.0			12.7			118.1
Net income (non-controlling interests)	(28.5		)	(27.3		)	(7.4		)	(63.2		)
Net income (controlling interest)	$	24.9		$	24.7		$	5.3		$	54.9



	Three Months Ended September 30, 2013
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	229.1		$	268.0		$	54.5		$	551.6
Operating expenses:
Depreciation, intangible amortization and impairments	17.6			15.6			2.9			36.1
Other operating expenses	140.3			174.7			31.4			346.4
	157.9			190.3			34.3			382.5
Operating income	71.2			77.7			20.2			169.1
Income from equity method investments	27.7			4.0			2.4			34.1
Other non-operating (income) and expenses:
Investment and other income	(3.9		)	(3.8		)	(0.3		)	(8.0		)
Interest expense	10.6			7.3			2.0			19.9
Imputed interest and contingent payment arrangements	1.2			2.5			0.2			3.9
	7.9			6.0			1.9			15.8
Income before income taxes	91.0			75.7			20.7			187.4
Income taxes	17.9			8.8			4.3			31.0
Net income	73.1			66.9			16.4			156.4
Net income (non-controlling interests)	(33.3		)	(39.1		)	(8.8		)	(81.2		)
Net income (controlling interest)	$	39.8		$	27.8		$	7.6		$	75.2



	Nine Months Ended September 30, 2012
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	636.8		$	557.4		$	120.3		$	1,314.5
Operating expenses:
Depreciation, intangible amortization and impairments	57.8			115.1			6.8			179.7
Other operating expenses	400.9			385.2			75.2			861.3
	458.7			500.3			82.0			1,041.0
Operating income	178.1			57.1			38.3			273.5
Income from equity method investments	34.6			8.5			4.2			47.3
Other non-operating (income) and expenses:
Investment and other income	(10.9		)	(7.5		)	(1.9		)	(20.3		)
Interest expense	33.7			19.5			5.6			58.8
Imputed interest and contingent payment arrangements	(12.1		)	(24.7		)	1.1			(35.7		)
	10.7			(12.7		)	4.8			2.8
Income before income taxes	202.0			78.3			37.7			318.0
Income taxes	39.2			—			6.8			46.0
Net income	162.8			78.3			30.9			272.0
Net income (non-controlling interests)	(85.8		)	(70.0		)	(17.3		)	(173.1		)
Net income (controlling interest)	$	77.0		$	8.3		$	13.6		$	98.9



	Nine Months Ended September 30, 2013
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	694.6		$	741.5		$	158.7		$	1,594.8
Operating expenses:
Depreciation, intangible amortization and impairments	57.1			42.0			9.3			108.4
Other operating expenses	429.8			483.2			92.4			1,005.4
	486.9			525.2			101.7			1,113.8
Operating income	207.7			216.3			57.0			481.0
Income from equity method investments	102.1			11.7			7.2			121.0
Other non-operating (income) and expenses:
Investment and other income	(9.8		)	(9.2		)	(1.0		)	(20.0		)
Interest expense	38.4			23.5			6.6			68.5
Imputed interest and contingent payment arrangements	8.2			16.7			1.6			26.5
	36.8			31.0			7.2			75.0
Income before income taxes	273.0			197.0			57.0			527.0
Income taxes	60.6			34.6			11.4			106.6
Net income	212.4			162.4			45.6			420.4
Net income (non-controlling interests)	(97.8		)	(95.2		)	(25.1		)	(218.1		)
Net income (controlling interest)	$	114.6		$	67.2		$	20.5		$	202.3
Total assets as of December 31, 2012	3,176.5			2,354.8			655.8			6,187.1
Total assets as of September 30, 2013	2,964.6			2,633.5			663.0			6,261.1

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Investments in Marketable Securities (Details) - USD ($) $ in Millions	Sep. 30, 2013	Dec. 31, 2012
Cost of investments in marketable securities, gross unrealized gains and losses
Total investments	$ 132.9	$ 128.9

Investments in Marketable Securities (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Available-for-Sale
Cost	$ 104.0		$ 104.0		$ 103.2
Unrealized Gains	9.5		9.5		15.3
Unrealized Losses	(2.5)		(2.5)		(3.2)
Fair Value	111.0		111.0		115.3
Trading
Cost	18.2		18.2		10.3
Unrealized Gains			3.7		6.5
Unrealized Losses			0.0		(3.2)
Fair Value	21.9		21.9		$ 13.6
Realized gains and losses on investments classified as available-for-sale
Gains	0.0	$ 0.1	2.1	$ 0.1
Losses	0.0	0.0	0.0	0.0
Net realized gains	0.0	0.1	2.1	0.1
Realized gains and losses on investments classified as trading
Gains	0.2	0.2	0.6	0.8
Losses	0.0	0.0	0.0	(0.3)
Net realized gains	$ 0.2	$ 0.2	$ 0.6	$ 0.5

Variable Interest Entities (Details) - USD ($) $ in Millions	Sep. 30, 2013	Dec. 31, 2012
Sponsored investment funds [Member]
Variable Interest Entities
Unconsolidated VIE Net Assets	$ 7,994.4	$ 7,186.9
Carrying Value and Maximum Exposure to Loss	1.6	0.8
Trust preferred vehicles [Member]
Variable Interest Entities
Unconsolidated VIE Net Assets	9.0	9.0
Carrying Value and Maximum Exposure to Loss	$ 9.0	$ 9.0

Long-Term Debt (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Apr. 30, 2013
Long-term debt
Repayments of Senior Debt	$ 572.3	$ 0.0	$ 641.3	$ 0.0
New senior unsecured revolving credit facility [Member]
Long-term debt
Maximum borrowing capacity					$ 1,250.0
Remaining term loan balance	575.0		575.0
Senior Notes [Member] \| Senior Convertible [Member]
Long-term debt
Debt repurchased	79.5		79.5
Debt outstanding	$ 380.5		380.5
Repayments of Senior Debt			$ 641.3
Senior Notes [Member] \| Senior Convertible Due 2038 [Member]
Long-term debt
Interest rate	3.95%		3.95%

Forward Equity Sales - Narrative (Details) - Forward Contracts [Member] $ in Millions	12 Months Ended
	Dec. 31, 2012 USD ($) $ / unit	Oct. 31, 2013 USD ($) $ / unit	Sep. 30, 2013 USD ($) $ / unit
Derivative [Line Items]
Forward equity authorized amount	$ 400.0
Average forward price \| $ / unit	121.37		185.13
Notional amount	$ 147.2		$ 37.6
Notional amount settled			$ 77.0
Average forward price total \| $ / unit			185.56
Subsequent Event [Member]
Derivative [Line Items]
Average forward price \| $ / unit		185.98
Notional amount		$ 39.4

Derivative Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Cash Flow Hedges [Member] \| Interest rate swaps [Member]
Summary of the location and amount of derivative instrument gains and losses (before taxes) reported in the Consolidated Statements of Income
Amount of Gain (Loss) Recognized in Other Comprehensive Income	$ 0.0	$ (0.5)	$ 1.3	$ (1.4)

Derivative Financial Instruments (Details 2) - Interest rate swaps [Member] - USD ($)
$ in Millions

Sep. 30, 2013

Dec. 31, 2012

Fair values of derivative instruments

Cash Flow Hedges, Fair value of derivative assets

^[1]

$ (2.7)

$ (4.0)

Fair value of collateral posted

$ 3.6

[1]	Presented within Other long-term liabilities.

Commitments and Contingencies (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2013
Commitments and Contingencies
Co-investment commitments in partnership	$ 71.6
Acquisition agreements contingency liability	474.0
Expected payments to settle contingent obligations	226.0
Expected payments related to equity method investments	151.0
Net present value of expected payments to settle contingent obligations	46.1
Pantheon's prior owner [Member]
Commitments and Contingencies
Reimbursable amount of investment commitments	$ 33.8
Scenario, Forecast [Member]
Commitments and Contingencies
Expected payments to settle contingent obligations		$ 0.0

Fair Value Measurements - Summary of Assets and Liabilities at Fair Value (Details) - USD ($)
$ in Millions

Sep. 30, 2013

Dec. 31, 2012

Financial Assets

Trading securities

$ 21.9

$ 13.6

Available-for-sale securities

111.0

115.3

Other investments

206.2

187.8

Fair value measured on a recurring basis [Member]

Financial Assets

Cash equivalents

0.0

Trading securities

^[1]

0.0

Available-for-sale securities

^[1]

0.0

Fair value measured on a recurring basis [Member] | Fair value [Member]

Financial Assets

Cash equivalents

32.1

13.5

Trading securities

^[1]

21.9

13.6

Available-for-sale securities

^[1]

111.0

115.3

Other investments

^[2]

157.9

155.4

Financial Liabilities

Contingent payment arrangements

^[3]

46.1

31.0

Obligations to related parties

^[4]

98.7

77.8

Interest rate derivatives

^[5]

2.7

4.0

Fair value measured on a recurring basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]

Financial Assets

Cash equivalents

32.1

13.5

Trading securities

^[1]

21.9

13.6

Available-for-sale securities

^[1]

111.0

115.3

Other investments

^[2]

13.1

15.7

Financial Liabilities

Contingent payment arrangements

^[3]

0.0

Obligations to related parties

^[4]

0.0

Interest rate derivatives

^[5]

0.0

Fair value measured on a recurring basis [Member] | Significant Other Observable Inputs (Level 2) [Member]

Financial Assets

Cash equivalents

0.0

Trading securities

^[1]

0.0

Available-for-sale securities

^[1]

0.0

Other investments

^[2]

18.5

20.8

Financial Liabilities

Contingent payment arrangements

^[3]

0.0

Obligations to related parties

^[4]

0.0

Interest rate derivatives

^[5]

2.7

4.0

Fair value measured on a recurring basis [Member] | Significant Other Unobservable Inputs (Level 3) [Member]

Financial Assets

Cash equivalents

0.0

Trading securities

^[1]

0.0

Available-for-sale securities

^[1]

0.0

Other investments

^[2]

126.3

118.9

Financial Liabilities

Contingent payment arrangements

^[3]

46.1

31.0

Obligations to related parties

^[4]

98.7

77.8

Interest rate derivatives

^[5]

$ 0.0

[1]	Principally investments in equity securities.
[2]	Other investments are reported within Prepaid expenses and other current assets and Other assets.
[3]	Net present value of expected payments under contingent payment arrangements are reported in Accounts payable and accrued liabilities and Other long-term liabilities.
[4]	Obligations to related parties are presented within Payables to related party and Other long-term liabilities.
[5]	Interest rate derivatives are presented within Other long-term liabilities.

Fair Value Measurements - Changes in level 3 Inputs (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Other investments [Member]

Changes in level 3 assets and liabilities

Balance, beginning of period

$ 124.4

$ 113.0

$ 118.9

$ 103.4

Net realized gains/losses

^[1]

(0.5)

(0.1)

(1.9)

(1.7)

Net unrealized gains/losses relating to instruments still held at the reporting date

^[1]

4.7

1.6

11.1

7.7

Purchases and issuances

2.2

3.5

9.9

13.4

Settlements and reductions

(4.5)

(1.3)

(11.7)

(6.1)

Net transfers in and/or out of Level 3

0.0

Balance, end of period

126.3

116.7

126.3

116.7

Contingent payment arrangements [Member]

Changes in level 3 assets and liabilities

Balance, beginning of period

44.3

62.5

31.0

87.1

Net realized gains/losses

0.0

Net unrealized gains/losses relating to instruments still held at the reporting date

^[2]

1.8

3.5

15.1

(45.9)

Purchases and issuances

0.0

24.8

Settlements and reductions

0.0

Net transfers in and/or out of Level 3

0.0

Balance, end of period

46.1

66.0

46.1

66.0

Obligations to related parties [Member]

Changes in level 3 assets and liabilities

Balance, beginning of period

96.6

79.5

77.8

92.0

Net realized gains/losses

^[3]

1.1

0.5

3.1

0.9

Net unrealized gains/losses relating to instruments still held at the reporting date

^[3]

(0.1)

0.2

0.1

0.9

Purchases and issuances

23.1

1.7

55.1

22.1

Settlements and reductions

(22.0)

(6.1)

(37.4)

(40.1)

Net transfers in and/or out of Level 3

0.0

Balance, end of period

$ 98.7

$ 75.8

$ 98.7

$ 75.8

[1]	Gains and losses on Other investments are recorded in Investment and other income.
[2]	Accretion and changes to payment estimates under the Company's contingent payment arrangements are recorded in Imputed interest and contingent payment arrangements and foreign currency translation adjustments related to such arrangements are recorded as Other comprehensive income.
[3]	Gains and losses associated with agreements to repurchase Affiliate equity are recorded in Imputed interest and contingent payment arrangements. Gains and losses related to liabilities offsetting certain investments are recorded in Investment and other income.

Fair Value Measurements - Quantitative Information (Details) - Discounted cash flow - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Contingent payment arrangements [Member]
Quantitative information for Level 3 Fair Value Measurements Liabilities
Fair value Liabilities	$ 46.1	$ 31.0
Contingent payment arrangements [Member] \| Minimum
Quantitative information for Level 3 Fair Value Measurements Liabilities
Growth rate (as a percent)	0.40%	6.00%
Discount rate (as a percent)	14.00%	14.00%
Contingent payment arrangements [Member] \| Maximum
Quantitative information for Level 3 Fair Value Measurements Liabilities
Growth rate (as a percent)	10.50%	12.00%
Discount rate (as a percent)	18.00%	18.00%
Affiliate equity repurchase obligations [Member]
Quantitative information for Level 3 Fair Value Measurements Liabilities
Fair value Liabilities	$ 30.5	$ 9.4
Affiliate equity repurchase obligations [Member] \| Minimum
Quantitative information for Level 3 Fair Value Measurements Liabilities
Growth rate (as a percent)	4.20%	(10.00%)
Discount rate (as a percent)	16.00%	15.00%
Affiliate equity repurchase obligations [Member] \| Maximum
Quantitative information for Level 3 Fair Value Measurements Liabilities
Growth rate (as a percent)	12.30%	17.00%
Discount rate (as a percent)	18.00%	24.00%

Fair Value Measurements - Nature of Investments and Related Liquidation Restrictions (Details) - USD ($)
$ in Millions

Sep. 30, 2013

Dec. 31, 2012

NAV of investments at fair value

Fair Value

$ 206.2

$ 187.8

Unfunded Commitments

71.6

75.4

Private equity fund-of-funds [Member]

NAV of investments at fair value

Fair Value

^[1]

126.3

118.9

Unfunded Commitments

^[1]

71.6

75.4

Other funds [Member]

NAV of investments at fair value

Fair Value

^[2]

79.9

68.9

Unfunded Commitments

^[2]

$ 0.0

[1]	These funds primarily invest in a broad range of private equity funds, as well as making direct investments. Distributions will be received as the underlying assets are liquidated over the life of the funds.
[2]	These are multi-disciplinary funds that invest across various asset classes and strategies, including long/short equity, credit and real estate. Investments are generally redeemable on a daily or quarterly basis.

Fair Value Measurements Fair Value Measurements - Summary of other financial liabilities not carried at fair value (Details) - USD ($) $ in Millions	Sep. 30, 2013	Dec. 31, 2012
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 340.0	$ 340.0
Senior convertible securities	0.0	450.1
Junior convertible trust preferred securities	517.9	515.5
Level 2 [Member] \| Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	340.0	340.0
Senior convertible securities	0.0	450.1
Junior convertible trust preferred securities	517.9	515.5
Level 2 [Member] \| Fair Market Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	324.2	351.8
Senior convertible securities	0.0	510.6
Junior convertible trust preferred securities	$ 870.2	$ 719.9

Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Intangible assets
Amortization and impairment expenses of intangible assets	$ 32.7	$ 24.0	$ 98.1	$ 169.1
Additional investments in new or existing Affiliates	0.0		$ 0.0
Acquired client relationships
Intangible assets
Weighted average life			11 years
Amortization and impairment expenses of intangible assets	32.7	$ 24.0	$ 98.1	$ 169.1
Annual amortization expense for each of the next five years			100.0
Additional investments in new or existing Affiliates	$ 0.0		$ 0.0

Intangible Assets (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Intangible Assets (Details 2) - USD ($) $ in Millions	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Schedule of Equity Method Investments
Amortization expense during the period	$ 32.7	$ 24.0	$ 98.1	$ 169.1
Additional investments in new or existing Affiliates	0.0		0.0
Annual amortization expense attributable to current equity method Affiliates for next five years
2013	42.0		42.0
2014	20.0		20.0
2015	10.0		10.0
2016	10.0		10.0
2017	10.0		$ 10.0
Acquired client relationships under equity method investments
Schedule of Equity Method Investments
Weighted average life			9 years
Amortization expense during the period	$ 10.4	$ 10.2	$ 31.1	$ 26.5

Share-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Recent share based compensation expense
Share Based Compensation Expense	$ 5.5	$ 5.0	$ 16.4	$ 14.9
Tax Benefit	3.5	$ 3.1	10.3	$ 9.2
Compensation expense related to share-based compensation	$ 53.4		$ 53.4
Weighted average period over which compensation expense will be recognized			3 years
Stock Option and Incentive Plan [Member]
Summary of transactions of stock option and incentive plans:
Unexercised options outstanding at the beginning of the period (in shares)			3.8
Options granted (in shares)			0.0
Options exercised (in shares)			(0.8)
Unexercised options outstanding at the end of the period (in shares)	3.0		3.0
Exercisable at the end of the period (in shares)	1.8		1.8
Weighted Average Exercise Price
Unexercised options outstanding at the beginning of the period (in dollars per share)			$ 74.04
Options granted (in dollars per share)			175.28
Options exercised (in dollars per share)			62.45
Unexercised options outstanding at the end of the period (in dollars per share)	$ 77.38		77.38
Exercisable at the end of the period (in dollars per share)	$ 71.69		$ 71.69
Weighted Average Remaining Contractual Life (years)
Unexercised options outstanding at the end of the period			3 years 8 months 12 days
Exercisable at the end of the period			3 years 3 months 18 days

Share-Based Compensation (Details 2) shares in Millions	9 Months Ended
Share-Based Compensation (Details 2) shares in Millions	Sep. 30, 2013 $ / shares shares
Long-Term Equity Interests Plan [Member]
Weighted Average Grant Date Value
Awards repurchased (in shares)	3.2
Restricted stock [Member]
Restricted Stock
Unvested units at the beginning of the period (in shares)	0.4
Units granted (in shares)	0.0
Units issued (in shares)	(0.1)
Unvested units at the end of the period (in shares)	0.3
Weighted Average Grant Date Value
Unvested units at the beginning of the period (in dollars per share) \| $ / shares	$ 84.53
Units granted (in dollars per share) \| $ / shares	174.91
Units issued (in dollars per share) \| $ / shares	85.63
Unvested units at the end of the period (in dollars per share) \| $ / shares	$ 86.31

Affiliate Equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Affiliate Equity (Details) - USD ($) $ in Millions	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Affiliate Equity
Compensation expenses related to Affiliate equity	$ 4.7	$ 6.5	$ 22.2	$ 21.6
Compensation expenses related to Affiliate equity, attributable to controlling interest	2.5	2.3	10.9	9.4
Changes in redeemable non-controlling interests during the period
Balance at the beginning of the period			477.5
Transactions in Redeemable non-controlling interests			(40.0)
Changes in redemption value			176.6
Balance at the end of the period	614.1		614.1
Effect of changes in the Company's ownership interest in its Affiliates on the controlling interest's equity
Net income (controlling interest)	75.2	54.9	202.3	98.9
Increase (decrease) in controlling interest paid-in capital from purchases and sales of Affiliate equity	0.9	1.1	(23.1)	(7.5)
Change from Net income (controlling interest) and net transfers with non-controlling interests	$ 76.1	$ 56.0	$ 179.2	$ 91.4

Income Taxes (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Income tax provision

Deferred taxes

$ (4.8)

$ 7.8

$ 24.0

$ 5.8

Provision for income taxes

31.0

19.4

106.6

46.0

United Kingdom [Member]

Income tax provision

Deferred taxes

11.1

7.2

11.1

7.2

Change in valuation allowance

3.1

1.6

8.3

Controlling Interests [Member]

Income tax provision

Current tax

32.7

8.8

73.6

31.1

Intangible-related deferred taxes

5.2

11.7

29.4

0.1

Other deferred taxes

(6.3)

(1.2)

(1.4)

4.9

Provision for income taxes

31.6

19.3

101.6

36.1

Income before income taxes (controlling interest)

$ 106.8

$ 74.2

$ 303.9

$ 135.0

Effective tax rate attributable to controlling interests (as a percent)

^[1]

29.60%

26.00%

33.40%

26.70%

Controlling Interests [Member] | United Kingdom [Member]

Income tax provision

Deferred taxes

$ 7.5

$ 4.8

$ 7.5

$ 4.8

Non-controlling interests [Member]

Income tax provision

Current tax

3.1

2.8

9.0

9.1

Deferred taxes

(3.7)

(2.7)

(4.0)

0.8

Provision for income taxes

$ (0.6)

$ 0.1

$ 5.0

$ 9.9

[1]	Taxes attributable to the controlling interest divided by Income before income taxes (controlling interest).

Income Taxes (Details 2) - USD ($) $ in Millions	9 Months Ended
Income Taxes (Details 2) - USD ($) $ in Millions	Sep. 30, 2013	Dec. 31, 2012
Deferred Tax Assets
State net operating loss carryforwards	$ 27.5	$ 23.9
Deferred compensation	27.2	23.9
Foreign tax credit carryforwards	10.2	20.1
Tax benefit of uncertain tax positions	16.3	17.6
Accrued expenses	11.3	6.0
Capital loss carryforwards	1.5	1.5
Total deferred tax assets	94.0	93.0
Valuation allowance	(24.9)	(21.3)
Deferred tax assets, net of valuation allowance	69.1	71.7
Deferred Tax Liabilities
Intangible asset amortization	(265.4)	(238.2)
Convertible securities interest	(142.1)	(189.2)
Non-deductible intangible amortization	(103.1)	(120.1)
Deferred revenue	(17.1)	(18.5)
Other	(2.8)	(2.8)
Total deferred tax liabilities	(530.5)	(568.8)
Net deferred tax liability	(461.4)	$ (497.1)
Deferred tax liability transferred to stockholders' equity	$ 50.6
State net operating loss carryforwards, expiration period	15 years
Foreign tax credit carryforwards, expiration period	10 years
Liability for uncertain tax positions including interest and related charges	$ 20.9
Accrued income tax interest and related charges	2.1
Unrecognized tax benefits that, if recognized, would affect effective tax rate	$ 17.7

Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator
Net income (controlling interest)	$ 75.2	$ 54.9	$ 202.3	$ 98.9
Convertible securities interest expense, net	2.6	0.0	0.0	0.0
Net income (controlling interest), as adjusted	$ 77.8	$ 54.9	$ 202.3	$ 98.9
Denominator
Average shares outstanding - basic (in shares)	53.2	51.7	53.0	51.6
Effect of dilutive instruments:
Contingently convertible securities (in shares)	2.0	0.0	0.0	0.0
Stock options and restricted stock (in shares)	1.3	1.3	1.4	1.3
Forward equity sales (in shares)	0.4	0.0	0.3	0.0
Average shares outstanding—diluted (in shares)	56.9	53.0	54.7	52.9
Stock options and other awards [Member]
Anti-dilutive securities
Anti-dilutive securities excluded from computation of diluted earnings per share (in shares)	0.0	0.6	0.0	0.6
Senior convertible securities [Member]
Anti-dilutive securities
Anti-dilutive securities excluded from computation of diluted earnings per share (in shares)	1.3	3.7	2.9	3.7
Junior convertible trust preferred securities [Member]
Anti-dilutive securities
Anti-dilutive securities excluded from computation of diluted earnings per share (in shares)	2.2	4.2	4.2	4.2
Forward equity sales [Member]
Anti-dilutive securities
Anti-dilutive securities excluded from computation of diluted earnings per share (in shares)	0.0	0.3	0.0	0.3

Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Comprehensive Income (Details) - USD ($) $ in Millions	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Other Comprehensive Income (Loss), Pre-Tax
Foreign currency translation adjustment, Pre-Tax	$ 18.1	$ 15.2	$ (14.4)	$ 19.7
Change in net realized and unrealized gain (loss) on derivative securities, Pre-Tax	0.0	(0.5)	1.3	(1.4)
Change in net unrealized gain on investment securities, Pre-Tax	10.2	1.9	(5.6)	(1.8)
Other comprehensive income (loss), Pre-Tax	28.3	16.6	(18.7)	16.5
Other Comprehensive Income (Loss), Tax Benefit (Expense)
Foreign currency translation adjustment, Tax Benefit (Expense)	0.0	0.0	0.0	0.0
Change in net realized and unrealized gain (loss) on derivative securities, Tax Benefit (Expense)	0.0	0.2	(0.5)	0.5
Change in net unrealized gain on investment securities, Tax Benefit (Expense)	(3.9)	(0.7)	1.7	0.7
Other comprehensive income (loss), Tax Benefit (Expense)	(3.9)	(0.5)	1.2	1.2
Other Comprehensive Income (Loss), Net of Tax
Foreign currency translation adjustment, Net of Tax	18.1	15.2	(14.4)	19.7
Change in net realized and unrealized gain (loss) on derivative securities, net of tax	0.0	(0.3)	0.8	(0.9)
Change in net unrealized loss on investment securities, net of tax	6.3	1.2	(3.9)	(1.1)
Other comprehensive income (loss)	$ 24.4	$ 16.1	$ (17.5)	$ 17.7

Comprehensive Income (Details 2) $ in Millions	9 Months Ended
Comprehensive Income (Details 2) $ in Millions	Sep. 30, 2013 USD ($)
Total [Member]
Components of Accumulated other comprehensive income, net of taxes
Balance at the beginning of the period	$ 81.3
Other comprehensive income before reclassifications	(16.0)
Amounts reclassified from other comprehensive income	(1.5)
Net other comprehensive income	(17.5)
Balance at the end of the period	63.8
Foreign Currency Translation Adjustment [Member]
Components of Accumulated other comprehensive income, net of taxes
Balance at the beginning of the period	76.2
Other comprehensive income before reclassifications	(14.4)
Amounts reclassified from other comprehensive income	0.0
Net other comprehensive income	(14.4)
Balance at the end of the period	61.8
Realized and Unrealized Losses on Derivative Securities [Member]
Components of Accumulated other comprehensive income, net of taxes
Balance at the beginning of the period	(2.9)
Other comprehensive income before reclassifications	0.8
Amounts reclassified from other comprehensive income	0.0
Net other comprehensive income	0.8
Balance at the end of the period	(2.1)
Unrealized Gain (Loss) on Investment Securities [Member]
Components of Accumulated other comprehensive income, net of taxes
Balance at the beginning of the period	8.0
Other comprehensive income before reclassifications	(2.4)
Amounts reclassified from other comprehensive income	(1.5)
Net other comprehensive income	(3.9)
Balance at the end of the period	$ 4.1

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e681-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669686-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14, 17, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details) $ in Millions	Sep. 30, 2013 USD ($)	Sep. 30, 2012 USD ($)	Sep. 30, 2013 USD ($) Channel Segment	Sep. 30, 2012 USD ($)	Dec. 31, 2012 USD ($)
Segment Reporting [Abstract]
Number of operating segments \| Segment			3
Number of principal distribution channels \| Channel			3
Statements of Income
Revenue	$ 551.6	$ 467.3	$ 1,594.8	$ 1,314.5
Operating expenses:
Depreciation, intangible amortization and impairments	36.1	27.5	108.4	179.7
Other operating expenses	346.4	300.1	1,005.4	861.3
Total operating expenses	382.5	327.6	1,113.8	1,041.0
Operating income	169.1	139.7	481.0	273.5
Income from equity method investments	34.1	19.4	121.0	47.3
Other non-operating (income) and expenses:
Investment and other income	(8.0)	(6.9)	(20.0)	(20.3)
Interest expense	19.9	21.8	68.5	58.8
Imputed interest and contingent payment arrangements	3.9	6.7	26.5	(35.7)
Total non-operating (income) and expenses	15.8	21.6	75.0	2.8
Income before income taxes	187.4	137.5	527.0	318.0
Income taxes	31.0	19.4	106.6	46.0
Net income	156.4	118.1	420.4	272.0
Net income (non-controlling interests)	(81.2)	(63.2)	(218.1)	(173.1)
Net income (controlling interest)	75.2	54.9	202.3	98.9
Balance Sheet Information
Total assets	6,261.1		6,261.1		$ 6,187.1
Institutional [Member]
Statements of Income
Revenue	229.1	210.7	694.6	636.8
Operating expenses:
Depreciation, intangible amortization and impairments	17.6	19.0	57.1	57.8
Other operating expenses	140.3	131.5	429.8	400.9
Total operating expenses	157.9	150.5	486.9	458.7
Operating income	71.2	60.2	207.7	178.1
Income from equity method investments	27.7	14.8	102.1	34.6
Other non-operating (income) and expenses:
Investment and other income	(3.9)	(2.8)	(9.8)	(10.9)
Interest expense	10.6	12.0	38.4	33.7
Imputed interest and contingent payment arrangements	1.2	3.0	8.2	(12.1)
Total non-operating (income) and expenses	7.9	12.2	36.8	10.7
Income before income taxes	91.0	62.8	273.0	202.0
Income taxes	17.9	9.4	60.6	39.2
Net income	73.1	53.4	212.4	162.8
Net income (non-controlling interests)	(33.3)	(28.5)	(97.8)	(85.8)
Net income (controlling interest)	39.8	24.9	114.6	77.0
Balance Sheet Information
Total assets	2,964.6		2,964.6		3,176.5
Mutual Fund [Member]
Statements of Income
Revenue	268.0	208.3	741.5	557.4
Operating expenses:
Depreciation, intangible amortization and impairments	15.6	5.4	42.0	115.1
Other operating expenses	174.7	139.1	483.2	385.2
Total operating expenses	190.3	144.5	525.2	500.3
Operating income	77.7	63.8	216.3	57.1
Income from equity method investments	4.0	3.2	11.7	8.5
Other non-operating (income) and expenses:
Investment and other income	(3.8)	(3.2)	(9.2)	(7.5)
Interest expense	7.3	7.5	23.5	19.5
Imputed interest and contingent payment arrangements	2.5	3.2	16.7	(24.7)
Total non-operating (income) and expenses	6.0	7.5	31.0	(12.7)
Income before income taxes	75.7	59.5	197.0	78.3
Income taxes	8.8	7.5	34.6	0.0
Net income	66.9	52.0	162.4	78.3
Net income (non-controlling interests)	(39.1)	(27.3)	(95.2)	(70.0)
Net income (controlling interest)	27.8	24.7	67.2	8.3
Balance Sheet Information
Total assets	2,633.5		2,633.5		2,354.8
High Net Worth [Member]
Statements of Income
Revenue	54.5	48.3	158.7	120.3
Operating expenses:
Depreciation, intangible amortization and impairments	2.9	3.1	9.3	6.8
Other operating expenses	31.4	29.5	92.4	75.2
Total operating expenses	34.3	32.6	101.7	82.0
Operating income	20.2	15.7	57.0	38.3
Income from equity method investments	2.4	1.4	7.2	4.2
Other non-operating (income) and expenses:
Investment and other income	(0.3)	(0.9)	(1.0)	(1.9)
Interest expense	2.0	2.3	6.6	5.6
Imputed interest and contingent payment arrangements	0.2	0.5	1.6	1.1
Total non-operating (income) and expenses	1.9	1.9	7.2	4.8
Income before income taxes	20.7	15.2	57.0	37.7
Income taxes	4.3	2.5	11.4	6.8
Net income	16.4	12.7	45.6	30.9
Net income (non-controlling interests)	(8.8)	(7.4)	(25.1)	(17.3)
Net income (controlling interest)	7.6	$ 5.3	20.5	$ 13.6
Balance Sheet Information
Total assets	$ 663.0		$ 663.0		$ 655.8