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Senior Notes

At December 31, 2013, the Company has two senior notes outstanding. The principal terms of these notes are summarized below.



	2022 Senior Notes			2042 Senior Notes
Issue date	October 2012			August 2012
Maturity date	October 2022			August 2042
Potential Call Date	October 2015			August 2017
Par value (in millions)	$	140.0		$	200.0
Call Price	At Par			At Par
Stated coupon	5.25		%	6.375		%
Coupon frequency	Quarterly			Quarterly

On February 11, 2014, The Company sold $400.0 million aggregate principal amount of 4.25% senior notes due 2024 (the “2024 senior notes”). The unsecured 2024 senior notes pay interest semi-annually and may be redeemed at any time, in whole or in part, at a make-whole redemption price plus accrued and unpaid interest. In addition to customary event of default provisions, the indenture limits the Company’s ability to consolidate, merge or sell all or substantially all of its assets, and to create certain liens.

Convertible Securities

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Convertible Securities

In 2013, the Company settled $460.0 million principal amount outstanding of our 3.95% senior convertible notes due 2038 (“2008 senior convertible notes”). In connection with the settlement, the Company paid an aggregate of $641.3 million and all of our 2008 senior convertible notes have been retired.

At December 31, 2013, the Company has two junior convertible trust preferred securities outstanding, one issued in 2006 (the "2006 junior convertible trust preferred securities") and a second issued in 2007 (the "2007 junior convertible trust preferred securities").

The carrying values of the Company's convertible securities are as follows:



	December 31, 2012				December 31, 2013
	Carrying Value		Principal amount at maturity		Carrying Value		Principal amount at maturity
Senior convertible securities:
2008 senior convertible notes⁽¹⁾	$	450.1	$	460.0	$	—	$	—
Junior convertible trust preferred securities:
2007 junior convertible trust preferred securities⁽¹⁾	$	299.4	$	430.8	$	301.2	$	430.8
2006 junior convertible trust preferred securities⁽¹⁾	216.1		300.0		217.5		300.0
Total junior convertible securities	$	515.5	$	730.8	$	518.7	$	730.8

_______________________________________________________________________________


(1)	Carrying value is accreted to the principal amount at maturity over an expected life of 30 years for each of the junior convertible trust preferred securities.

The principal terms of these securities are summarized below.



	2006 Junior Convertible Trust Preferred Securities⁽¹⁾			2007 Junior Convertible Trust Preferred Securities⁽²⁾
Issue date	April 2006			October 2007
Maturity date	April 2036			October 2037
Par value (in millions)	$	300.0		$	430.8
Carrying value (in millions)⁽³⁾	$	217.5		$	301.2
Denomination	$	50		$	50
Current conversion rate	0.333			0.250
Current conversion price	$	150.00		$	200.00
Stated coupon	5.10		%	5.15		%
Coupon frequency	Quarterly			Quarterly
Tax deduction rate⁽⁴⁾	7.50		%	8.00		%

_______________________________________________________________________________


(1)	On February 13, 2014, we delivered a notice to redeem all of our outstanding 2006 convertible trust preferred securities. In lieu of redemption, holders of the 2006 junior convertible trust preferred securities may elect to convert their securities into a defined number of shares. Upon conversion, holders will receive cash or shares of our common stock, or a combination thereof, at our election.


(2)	The Company may redeem the 2007 junior convertible trust preferred securities if the closing price of the Company's common stock exceeds $260 per share for 20 trading days in a period of 30 consecutive trading days.


(3)	The carrying value is accreted to the principal amount at maturity over an expected life of 30 years for each of the junior convertible trust preferred securities.

(4)

These convertible securities are considered contingent payment debt instruments under federal income tax regulations, which require the Company to deduct interest in an amount greater than its reported Interest expense. These deductions result in annual deferred tax liabilities of approximately $12.9 million ($8.1 million assuming the redemption of the 2006 convertible trust preferred securities). These deferred tax liabilities will be reclassified directly to stockholders' equity if the Company's common stock is trading above certain thresholds at the time of the conversion of the securities. In 2013 , $50.6 million was reclassified to stockholders' equity related to the repurchase of the 2008 senior convertible notes.

Forward Equity Sale Agreement	12 Months Ended
Forward Equity Sale Agreement	Dec. 31, 2013
Forward Equity Sale Agreements
Forward Equity Sale Agreement	Forward Equity Sale Agreement Under a forward equity agreement, the Company may sell shares of common stock up to an aggregate notional amount 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. During 2013, the Company agreed to net settle $77.0 million notional amount of forward equity contracts for cash at an average share price of $185.56. As of December 31, 2013, the Company has $70.2 million notional amount outstanding. The Company has the ability to settle the outstanding contracts either by delivering shares of common stock and receiving cash or net settling for cash or shares of common stock.

Financial Instruments and Risk Management	12 Months Ended
Financial Instruments and Risk Management	Dec. 31, 2013
Financial Instruments and Risk Management
Financial Instruments and Risk Management	Financial Instruments and Risk Management The Company is exposed to market risks brought on by changes in interest and currency exchange rates. The Company has not entered into foreign currency transactions or derivative financial instruments to reduce risks associated with changes in currency exchange rates. The Company may use derivative financial instruments to reduce risks associated with changes in interest rates. Notional amounts and credit exposures of derivatives The notional amount of derivatives does not represent amounts that are exchanged by the parties, and thus are not a measure of the Company's exposure. The amounts exchanged are calculated on the basis of the notional or contract amounts, as well as on other terms of the interest rate derivatives and the volatility of these rates and prices. The Company may be exposed to credit-related losses in the event of nonperformance by the counter parties that issued the financial instruments, although the Company does not expect that the counter parties to interest rate derivatives will fail to meet their obligations, given their typically high credit ratings. Interest Rate Risk Management From time to time, the Company enters into derivative financial instruments to reduce exposure to changing interest rates. The Company does not hold or issue derivative financial instruments for trading purposes. Derivative financial instruments are intended to enable the Company to achieve a level of variable-rate or fixed-rate debt that is acceptable to management and to limit interest rate exposure. The Company agrees with another party to exchange the difference between fixed-rate and floating rate interest amounts calculated by reference to an agreed notional principal amount. Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash investments. The Company maintains cash and cash equivalents, investments and, at times, certain financial instruments with various high credit-quality financial institutions. These financial institutions are typically located in countries in which AMG and its Affiliates operate. For AMG and certain Affiliates, cash deposits at a financial institution may exceed Federal Deposit Insurance Corporation insurance limits.

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2013

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.

In 2010, the Company entered into interest rate swap agreements as summarized in the table below:



	Notional Amount		Paying		Receiving	Start Date	Expiration Date
Counterparty A	$	25.0	1.67	%	3-Month LIBOR	October 2010	October 2015
Counterparty A	$	25.0	1.65	%	3-Month LIBOR	October 2010	October 2015
Counterparty B	$	25.0	1.59	%	3-Month LIBOR	October 2010	October 2015
Counterparty B	$	25.0	2.14	%	3-Month LIBOR	October 2010	October 2017

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 December 31, 2013, the Company had posted collateral of $3.6 million related to its interest rate swap contracts.

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



	For the Years Ended December 31,
Cash Flow Hedges	2011			2012			2013
Interest rate swaps	$	(5.4	)	$	(1.1	)	$	1.5
Treasury rate locks	(4.3		)	—			—
Total	$	(9.7	)	$	(1.1	)	$	1.5

At December 31, 2012 and 2013, the fair values of the Company's interest rate swaps ($4.0 million and $2.5 million, respectively) are presented within Other liabilities. 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.

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 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 December 31, 2013, these unfunded commitments totaled approximately $62.9 million and may be called in future periods. The Company is contractually entitled to reimbursement from the prior owner for $29.0 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 $474.1 million through 2017. As of December 31, 2013, the Company expects to make payments of $75.0 million (none in 2014) to settle obligations related to consolidated Affiliates and may make payments of up to $151.0 million related to the Company's equity method investments. The net present value of the expected payments for consolidated Affiliates totals $50.2 million as of December 31, 2013.

Fair Value Measurements

12 Months Ended

Dec. 31, 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	155.4		15.7		20.8		118.9
Financial Liabilities
Contingent payment arrangements⁽²⁾	$	31.0	$	—	$	—	$	31.0
Obligations to related parties⁽³⁾	77.8		—		—		77.8
Interest rate derivatives⁽⁴⁾	4.0		—		4.0		—



			Fair Value Measurements
	December 31, 2013		Fair Value Measurements
	December 31, 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	$	39.0	$	39.0	$	—	$	—
Investments in marketable securities⁽¹⁾
Trading securities	22.5		22.5		—		—
Available for sale securities	135.4		135.4		—		—
Other investments	164.3		14.1		18.4		131.8
Financial Liabilities
Contingent payment arrangements⁽²⁾	$	50.2	$	—	$	—	$	50.2
Obligations to related parties⁽³⁾	76.9		—		—		76.9
Interest rate derivatives⁽⁴⁾	2.5		—		2.5		—

_______________________________________________________________________________


(1)	Principally investments in equity securities.


(2)	Net present value of expected payments under contingent payment arrangements are reported in Other liabilities.


(3)	Obligations to related parties are presented within Other liabilities.


(4)	Interest rate derivatives are presented within Other 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 daily redeeming money market funds which 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 consolidated 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 of the agreements to repurchase 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 transfers of financial assets or liabilities from Level 1 to Level 2 in 2013. In 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 assets and liabilities for the years ended December 31, 2012 and 2013:



	For the Twelve Months Ended
	December 31, 2012												December 31, 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 gains/losses	7.8			⁽¹⁾	(40.8		)	⁽²⁾	1.8			⁽³⁾	12.3			⁽¹⁾	19.2		⁽²⁾	6.2			⁽³⁾
Purchases and issuances	18.8				24.8				32.1				18.0				—			62.9
Settlements and reductions	(11.1		)		(40.1		)		(48.1		)		(17.4		)		—			(70.0		)
Net transfers in and/or out of Level 3	—				—				—				—				—			—
Balance, end of period	$	118.9			$	31.0			$	77.8			$	131.8			$	50.2		$	76.9

Net unrealized gains/losses relating to instruments still held at the reporting date	$	11.0			$	(13.5	)		$	0.8			$	16.5			$	19.2		$	2.2

_______________________________________________________________________________


(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 expense 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 expense 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 December 31, 2013		Range at December 31, 2013
Contingent payment arrangements	Discounted cash flow	Growth rates	$	31.0	6.0% - 12.0%	$	50.2	3.0% - 11.0%
		Discount rates			14.0% - 18.0%			14.0% - 18.0%
Affiliate equity repurchase obligations	Discounted cash flow	Growth rates	9.4		(10.0)% - 17.0%	4.0		8.0%
		Discount rates			15.0% - 24.0%			15.0%

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



	December 31, 2012				December 31, 2013
Category of Investment	Fair Value		Unfunded Commitments		Fair Value		Unfunded Commitments
Private equity fund-of-funds⁽¹⁾	$	118.9	$	75.4	$	131.8	$	62.9
Other funds⁽²⁾	68.9		—		82.3		—
	$	187.8	$	75.4	$	214.1	$	62.9

_______________________________________________________________________________


(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				December 31, 2013
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value		Fair Value Hierarchy
Senior notes	$	340.0	$	351.8	$	340.0	$	325.0	Level 2
Senior convertible securities	450.1		510.6		—		—		Level 2
Junior convertible trust preferred securities	515.5		719.9		518.7		963.9		Level 2

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.

Business Combinations

12 Months Ended

Dec. 31, 2013

Business Combinations [Abstract]

Business Combinations

In 2012, the Company completed majority investments in two new Affiliates. The Company's purchase price allocations used financial models that included assumptions of market performance, net client cash flows and discount rates. The excess of the enterprise value over the net assets acquired was recorded as goodwill, of which 67.0%, 32.9% and 0.1% was attributed to the Company's Mutual Fund, High Net Worth and Institutional segments, respectively. The consideration paid (less net tangible assets acquired) is deductible for U.S. tax purposes over a 15-year life.

In connection with one of the investments, the Company is contingently liable to make payments of up to $75.0 million over the next three to five years upon the achievement of specified revenue targets.

The aggregate purchase price allocation for these investments is as follows:



	Total
Consideration paid	$	417.8
Non-controlling interests	247.6
Contingent payment obligations	24.8
Enterprise value	$	690.2

Acquired client relationships	$	452.6
Tangible assets, net	11.7
Goodwill	225.9
	$	690.2

Unaudited pro forma financial results are set forth below, giving consideration to the investments and acquisitions in 2012, as if such transactions occurred as of January 1, 2011, assuming the revenue sharing arrangements had been in effect for the entire period and after making certain other pro forma adjustments.



	For the Years Ended December 31,
	2011		2012
Revenue	$	1,810.9	$	1,881.0
Net income (controlling interest)	179.6		186.0
Earnings per share—basic	$	3.47	$	3.60
Earnings per share—diluted	$	3.39	$	3.51

Investments in new Affiliates contributed $88.0 million and $14.5 million to the Company's revenue and earnings, respectively, during 2012 and contributed $227.9 million and $32.1 million, respectively, during 2013.

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Client Relationships

12 Months Ended

Dec. 31, 2013

Goodwill and Acquired Client Relationships

The following table presents the change in Goodwill during 2012 and 2013:



	Institutional			Mutual Fund			High Net Worth		Total
Balance, as of December 31, 2011	$	1,071.4		$	785.0		$	260.9	$	2,117.3
Goodwill acquired	0.3			151.3			74.3		225.9
Foreign currency translation	6.8			3.2			2.0		12.0
Balance, as of December 31, 2012	$	1,078.5		$	939.5		$	337.2	$	2,355.2
Goodwill acquired	—			—			—		—
Foreign currency translation	(2.2		)	(11.4		)	0.1		(13.5		)
Balance, as of December 31, 2013	$	1,076.3		$	928.1		$	337.3	$	2,341.7

The following table reflects the components of intangible assets of the Company's Affiliates that are consolidated as of December 31, 2012 and 2013:



	Acquired Client Relationships
	Definite-lived									Indefinite-lived			Total
	Gross Book Value			Accumulated Amortization			Net Book Value			Net Book Value			Net Book Value
Balance, as of December 31, 2011	$	970.5		$	(317.0	)	$	653.5		$	667.6		$	1,321.1
New Investments	131.1			—			131.1			321.5			452.6
Amortization and impairments	—			(97.8		)	(97.8		)	(102.2		)	(200.0		)
Foreign currency translation	1.1			—			1.1			10.7			11.8
Transfers and other	6.9			31.3			38.2			(38.2		)	—
Balance, as of December 31, 2012	$	1,109.6		$	(383.5	)	$	726.1		$	859.4		$	1,585.5
New Investments	—			—			—			—			—
Amortization and impairments	—			(128.2		)	(128.2		)	—			(128.2		)
Foreign currency translation	(1.2		)	—			(1.2		)	4.6			3.4
Transfers and other	(68.9		)	68.9			—			—			—
Balance, as of December 31, 2013	$	1,039.5		$	(442.8	)	$	596.7		$	864.0		$	1,460.7

During 2012, the Company completed impairment assessments on its goodwill and definite-lived acquired client relationships and no impairments were indicated. During 2012, the Company determined that the fair value of the indefinite-lived intangible asset at one of its Affiliates had declined below its carrying value and, accordingly, reduced its carrying value by $102.2 million. The fair value of this asset ($38.2 million) was calculated using a discounted cash flow analysis, a Level 3 fair value measurement. The significant assumptions used in the valuation were assets under management (declining approximately 10% annually) and a discount rate of 15%.

During 2013, the Company completed impairment assessments on its goodwill and definite-lived and indefinite-lived acquired client relationships and no impairments were indicated.

For the Company's Affiliates that are consolidated, definite-lived acquired client relationships are amortized over their expected useful lives. As of December 31, 2013, these relationships were being amortized over a weighted average life of approximately ten years. The Company estimates that its consolidated annual amortization expense will be approximately $100.0 million for the next five years, assuming no additional investments in new or existing Affiliates.

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.

Equity Method Investments and Joint Ventures [Abstract]

Equity Investments in Affiliates

12 Months Ended

Dec. 31, 2013

Equity Investments in Affiliates

For the Affiliates in which the Company holds a significant but non-controlling interest, the equity method of accounting is applied. The definite-lived acquired client relationships attributable to the Company's equity method investments are amortized over their expected useful lives. As of December 31, 2013, these relationships were being amortized over a weighted average life of approximately eleven years. The Company recognized amortization expense for these relationships of $36.9 million for twelve months ended December 31, 2012 as compared to $41.7 million and for the twelve months ended December 31, 2013. Assuming no additional investments in new or existing Affiliates, the Company estimates the annual amortization expense attributable to its current equity-method Affiliates for the next five years as follows:



Year Ending December 31,	Estimated Amortization Expense
2014	$	20.7
2015	12.4
2016	9.8
2017	9.8
2018	9.8

The following table presents summarized financial information for Affiliates accounted for under the equity method.



	For the Years Ended December 31,
	2011		2012		2013
Revenue⁽¹⁾	$	581.0	$	1,005.4	$	1,589.6
Net income	387.9		783.3		1,321.9



	December 31,
	2012		2013
Current assets⁽²⁾	$	11,957.8	$	19,084.4
Noncurrent assets	34.7		55.3
Current liabilities	1,361.5		1,674.5
Noncurrent liabilities and Non-controlling interest⁽²⁾	9,857.6		16,089.0

_______________________________________________________________________________


(1)	Revenue includes advisory fees for asset management services, investment income and dividends from consolidated investment partnerships.


(2)	The Company is not entitled to assets held by investors that are unrelated to the Company including consolidated investment partnerships.

The Company's share of undistributed earnings from equity method investments totaled $197.6 million as of December 31, 2013.

Fixed Assets and Lease Commitments

12 Months Ended

Dec. 31, 2013

Fixed Assets and Lease Commitments

Fixed Assets and Lease Commitments

Fixed assets consisted of the following:



	December 31,
	2012			2013
Building and leasehold improvements	$	74.7		$	78.5
Equipment	38.9			36.5
Furniture and fixtures	16.3			15.4
Land and improvements	18.1			18.9
Software	21.4			30.6
Fixed assets, at cost	169.4			179.9
Accumulated depreciation and amortization	(87.9		)	(87.6		)
Fixed assets, net	$	81.5		$	92.3

The Company and its Affiliates lease office space and equipment for their operations. At December 31, 2013, the Company's aggregate future minimum payments for operating leases having initial or non-cancelable lease terms greater than one year are payable as follows:



	Required Minimum Payments
2014	$	30.1
2015	29.2
2016	23.5
2017	21.4
2018	19.8
Thereafter	69.5

Consolidated rent expense for 2011, 2012 and 2013 was $29.9 million, $30.5 million and $30.3 million, respectively.

Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2013

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consisted of the following:



	December 31,
	2012		2013
Accrued compensation	$	138.8	$	187.9
Unsettled fund share payables	39.8		$	84.6
Accrued income taxes	13.7		73.0
Accrued professional fees	28.7		33.4
Accrued interest	19.3		11.8
Accrued distributions	13.2		23.6
Accounts payable	59.5		23.5
Other	50.3		76.9
	$	363.3	$	514.7

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2013
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company's Affiliates pay quarterly distributions to Affiliate management owners. The accrued distributions included in Payables and accrued liabilities were $13.2 million and $23.6 million as of December 31, 2012 and 2013, respectively. The Company periodically records amounts receivable and payable to Affiliate partners in connection with the transfer of Affiliate equity interests. The Company also has liabilities to related parties for deferred purchase price and contingent payment arrangements in connection with certain business combinations. The total receivable was $36.9 million and $21.8 million at December 31, 2012 and 2013, respectively, and is included in Other assets. The total payable was $133.6 million and $133.4 million as of December 31, 2012 and 2013, respectively, and is included in Other liabilities. In certain cases, Affiliate management owners and Company officers may serve as trustees or directors of certain mutual funds from which the Affiliate earns advisory fee revenue.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Stockholders' Equity

12 Months Ended

Dec. 31, 2013

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

Stockholders' Equity

Preferred Stock

The Company is authorized to issue up to 5.0 million shares of Preferred Stock. Any such Preferred Stock issued by the Company may rank prior to common stock as to dividend rights, liquidation preference or both, may have full or limited voting rights and may be convertible into shares of common stock.

Common Stock

The Company's Board of Directors has authorized the issuance of up to 150.0 million shares of Voting Common Stock and 3.0 million shares of Class B Non-Voting Common Stock. As more fully described in Note 8, the Company is party to a forward equity sale agreement to issue new shares of the Company's common stock.

The Company's Board of Directors has also authorized share repurchase programs in recent periods. The maximum number of shares that may yet be repurchased under outstanding programs is 2.2 million. The timing and amount of issuances and repurchases are determined at the discretion of AMG's management.

A summary of the Company's recent share repurchase activity is as follows:



Period	Shares Repurchased	Average Price
2011	0.7	$	83.63
2012	0.6	$	107.44
2013	0.1	$	184.89

Financial Instruments

The Company's junior convertible trust preferred securities contain an embedded right for holders to receive shares of the Company's common stock under certain conditions. These arrangements, as well as the forward equity sale agreement, meet the definition of equity and are not required to be accounted for separately as derivative instruments.

Share-Based Compensation

12 Months Ended

Dec. 31, 2013

Share-Based Compensation

Share-Based Incentive Plans

The Company has established various plans under which it is authorized to grant restricted stock, restricted stock units, stock options and stock appreciation rights. Compensation payable under these plans is intended to qualify as performance-based compensation within the meaning of Section 162(m) of the Internal Revenue Code. The Company may also grant cash awards that can be notionally invested in one or more specified measurement funds, including the Company’s common stock.

Stock Options

The Company granted stock options with fair values of $16.8 million, $2.5 million, and $1.0 million in 2011, 2012 and 2013, respectively. Stock options generally vest over a period of three to five years and expire seven to ten years after the grant date. All options have been granted with exercise prices equal to the fair market value of the Company's common stock on the date of grant.

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—January 1, 2013	3.8		$	74.04
Options granted	0.0		191.75
Options exercised	(0.8	)	62.59
Options forfeited	(0.0	)	81.49
Unexercised options outstanding—December 31, 2013	3.0		77.71		3.4
Exercisable at December 31, 2013	2.4		73.56		3.2

The fair value of options granted is estimated using the Black-Scholes option pricing model. The weighted average fair value of options granted during the years ended December 31, 2011, 2012 and 2013 was $30.27, $40.43 and $61.82 per option, respectively, based on the weighted-average grant date assumptions stated below.



	For the Years Ended December 31,
	2011		2012		2013
Dividend yield	0.0	%	0.0	%	0.0	%
Expected volatility⁽¹⁾	33.1	%	36.8	%	34.4	%
Risk-free interest rate⁽²⁾	1.3	%	0.7	%	1.5	%
Expected life of options (in years)⁽³⁾	4.8		5.0		5.0
Forfeiture rate⁽³⁾	2.4	%	1.4	%	0.0	%

_______________________________________________________________________________


(1)	Based on historical and implied volatility.


(2)	Based on the U.S. Treasury yield curve in effect at the date of grant.


(3)	Based on the Company's historical data and expected exercise behavior.

The Company generally uses treasury stock to settle stock option exercises. The total intrinsic value of options exercised during the years ended December 31, 2011, 2012 and 2013 was $35.4 million, $86.8 million and $77.4 million, respectively. As of December 31, 2013, the intrinsic value of exercisable options outstanding was $341.9 million and 3.4 million options are available for future grant under the Company's option plans.

Restricted Stock

The Company granted awards with fair values of $3.3 million, $18.1 million, and $53.5 million in 2011, 2012 and 2013, respectively. Awards contain service-based vesting conditions requiring service over a period of three to eight years. In certain circumstances, the Company may elect to settle the awards in shares of the Company's common stock or cash.

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



	Restricted Stock		Weighted Average Grant Date Value
Unvested units—January 1, 2013	0.4		$	84.53
Units granted	0.3		208.76
Units vested	(0.2	)	50.46
Units forfeited	(0.0	)	94.83
Unvested units—December 31, 2013	0.5		176.38

In 2013, 0.2 million of the units granted contained service-based vesting conditions and were valued based on the closing price of the Company's common stock on the date of grant. The remaining 0.1 million units vest when the required service period has been completed and if certain market conditions are satisfied. The market conditions require separate 15%, 25% and 35% increases in the price of the Company’s common stock to be achieved during the six-year term of the awards; however, shares underlying the awards are eligible to be delivered, assuming the service conditions have been satisfied, only on the fourth, fifth and sixth anniversaries of the grant date if the 15% market condition has been maintained. The awards were valued using a Monte Carlo simulation with grant date assumptions for expected volatility (31.6%), risk-free interest rate (2.0%) and dividend yield (0.0%). The weighted average fair value of the awards was $144.70. The fair value of the awards will be recognized as compensation over a service period of four years, which is the longer of the explicit service period or the period the market condition is expected to be met.

As of December 31, 2013, the Company has 1.8 million shares available for grant under its plans.

Share-Based Incentive Compensation

A summary of recent share-based compensation expense is as follows:



Period	Share-Based Compensation Expense		Tax Benefit
2011	$	21.2	$	8.1
2012	25.4		9.6
2013	27.5		10.6

The cash received and the actual tax benefit recognized for options exercised were $73.4 million and $25.5 million and $48.2 million and $20.7 million during the years ended December 31, 2012 and 2013, respectively. The excess tax benefit classified as a financing cash flow was $22.0 million and $17.3 million during the years ended December 31, 2012 and 2013, respectively, and is included in Other financing items.

There was $53.5 million and $79.3 million of unrecognized compensation expense related to share-based compensation arrangements as of December 31, 2012 and 2013, respectively. This expense will be recognized over a weighted average period of approximately three years (assuming no forfeitures).

Affiliate Equity

12 Months Ended

Dec. 31, 2013

Affiliate Equity

Affiliate Equity

Affiliate equity interests provide holders with a ratable portion of ownership in Affiliates. The Company periodically issues Affiliate equity interests to and repurchases Affiliate equity interests from its Affiliate partners and officers of AMG, with vesting, rights to cash flows and repurchase rights established at the time of grant or sale. Affiliate partners also transfer Affiliate equity interests amongst themselves.

Sales and repurchases of Affiliate equity generally occur at fair value; however, the Company also grants Affiliate equity to its Affiliate partners, employees and officers as a form of compensation. If the equity is issued for consideration below the fair value of the equity or repurchased for consideration above the fair value of the equity, then such difference is recorded as compensation expense over the requisite service period.

A summary of Affiliate equity compensation expense is as follows:



Period	Affiliate Equity Compensation Expense		Tax Benefit
2011	$	38.1	$	12.0
2012	60.4		17.0
2013	72.3		21.7

There was $6.8 million, $16.3 million and $15.9 million of Affiliate equity compensation attributable to the non-controlling interest in 2011, 2012 and 2013, respectively. There was $85.3 million and $68.2 million of unrecognized compensation expense related to Affiliate equity compensation arrangements as of December 31, 2012 and 2013, respectively. Of this unrecognized compensation expense, $33.0 million and $32.1 million is attributable to the non-controlling interest, respectively. These expenses will be recognized over a weighted average period of approximately four years (assuming no forfeitures).

The Company's Affiliate equity arrangements provide the Company a conditional right to call and holders the conditional right to put their retained equity interests at certain intervals. The purchase price of these conditional purchases are generally calculated based upon a multiple of cash flow distributions, which is intended to represent fair value. Holders are also permitted to sell their equity interests to other individuals or entities in certain cases, subject to the Company's approval or other restrictions. The Company, at its option, may pay for Affiliate equity purchases in cash, shares of its common stock or other forms of consideration and can consent to the transfer of these interests to other individuals or entities.

The current redemption value of these interests has been presented as Redeemable non-controlling interests on the Company's 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:



	December 31,
	2012			2013
Balance, as of January 1	$	451.8		$	477.5
Transactions in Redeemable non-controlling interests	(17.2		)	(52.5		)
Changes in redemption value	42.9			216.9
Balance, as of December 31	$	477.5		$	641.9

During the years ended 2011, 2012 and 2013, the Company acquired interests from and transferred interests to holders. The following schedule discloses the effect of changes in the Company's ownership interests in its Affiliates on the controlling interest's equity:



	For the Years Ended December 31,
	2011			2012			2013
Net income (controlling interest)	$	164.9		$	174.0		$	360.5
Increase (decrease) in controlling interest paid-in capital from the sale of Affiliate equity	(28.1		)	(44.0		)	(74.0		)
Change from Net income (controlling interest) and net transfers with non-controlling interests	$	136.8		$	130.0		$	286.5

Benefit Plans	12 Months Ended
Benefit Plans	Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]
Benefit Plans	Benefit Plans The Company has three defined contribution plans consisting of a qualified employee profit-sharing plan covering substantially all of its full-time employees and several of its Affiliates, and non-qualified plans for certain senior employees. AMG's other Affiliates generally have separate defined contribution retirement plans. Under each of the qualified plans, AMG and each participating Affiliate, as the case may be, are able to make discretionary contributions for the benefit of qualified plan participants up to Internal Revenue Service limits. The Company has established a Deferred Compensation Plan that provides officers and directors of the Company the opportunity to voluntarily defer base salary, bonus payments and director fees, as applicable, on a pre-tax basis, and invest such deferred amounts in one or more specified measurement funds. While the Company has no obligation to do so, the Deferred Compensation Plan also provides the Company the opportunity to make discretionary contributions; in the event any such contributions are made, contributed amounts will be subject to vesting and forfeiture provisions. Consolidated expenses related to the Company's benefit plans in 2011, 2012 and 2013 were $12.0 million, $12.7 million and $14.1 million, respectively.

Income Taxes

12 Months Ended

Dec. 31, 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 Years Ended December 31,
	2011			2012			2013
Controlling Interests:
Current tax	$	45.0		$	61.0		$	153.1
Intangible related deferred taxes	43.2			22.7			38.1
Other deferred taxes	(4.0		)	(12.1		)	(6.2		)
Total controlling interests	84.2			71.6			185.0
Non-controlling Interests:
Current tax	$	12.9		$	11.7		$	13.3
Deferred taxes	(4.0		)	0.5			(4.2		)
Total non-controlling interests	8.9			12.2			9.1
Provision for income taxes	$	93.1		$	83.8		$	194.1
Income before income taxes (controlling interest)	$	249.1		$	245.6		$	545.5
Effective tax rate attributable to controlling interests⁽¹⁾	33.8		%	29.2		%	33.9		%

_______________________________________________________________________________


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

A summary of the consolidated provision for income taxes is as follows:



	For the Years Ended December 31,
	2011			2012			2013
Current:
Federal	$	6.2		$	14.5		$	104.1
State	11.2			14.2			21.1
Foreign	40.5			44.0			41.2
Total current	57.9			72.7			166.4
Deferred:
Federal	46.8			19.8			38.1
State	5.0			4.6			8.9
Foreign	(16.6		)	(13.3		)	(19.3		)
Total deferred	35.2			11.1			27.7
Provision for income taxes	$	93.1		$	83.8		$	194.1

The components of income before income taxes consisted of the following:



	For the Years Ended December 31,
	2011		2012		2013
Domestic	$	243.8	$	238.6	$	604.0
International	208.9		256.6		259.7
	$	452.7	$	495.2	$	863.7

The Company's effective income tax rate differs from the amount computed by using income before income taxes and applying the U.S. federal income tax rate because of the effect of the following items:



	For the Years Ended December 31,
	2011		2012		2013
Tax at U.S. federal income tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	1.4		3.5		2.8
Non-deductible expenses	0.5		0.7		0.3
Valuation allowance	(0.1	)	(4.7	)	(0.3	)
Effect of foreign operations	—		(2.9	)	(2.3	)
Foreign basis differences	(0.9	)	(0.4	)	(0.2	)
Effect of changes in tax law, rates	(2.1	)	(2.0	)	(1.4	)
Effect of income from non-controlling interests	(13.2	)	(12.2	)	(11.4	)
	20.6	%	17.0	%	22.5	%

In 2012 and 2013, the Company reduced its valuation allowance $11.5 million and $1.6 million, respectively, for foreign tax credit carryforwards and benefits of uncertain tax positions from improved projections of taxes in the U.S. During 2011, 2012 and 2013, the Company also realized a deferred tax benefit of $7.6 million, $7.3 million, and $11.2 million, respectively, from the re-valuation of its deferred taxes from a change in enacted tax rates in the United Kingdom. Excluding the non-controlling interest tax benefits, the changes decreased the effective tax rate of the controlling interest 2.1%, 2.0% and 1.4% in 2011, 2012 and 2013, respectively.

The Company does not provide for deferred taxes on the excess of the financial reporting basis over the tax basis in its investments in foreign subsidiaries that are permanent in duration. This amount becomes taxable upon a repatriation of assets from a sale or liquidation of the subsidiary. As of December 31, 2013, the amount of such temporary difference was approximately $47.7 million. The deferred taxes not recognized at December 31, 2013 for this temporary difference are approximately $17.9 million.

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



	December 31,
	2012			2013
Deferred Tax Assets
State net operating loss carryforwards	$	23.9		$	29.3
Deferred compensation	23.9			29.1
Foreign tax credit carryforwards	20.1			—
Tax benefit of uncertain tax positions	17.6			16.2
Accrued expenses	6.0			17.6
Foreign loss carryforwards	1.5			9.1
Total deferred tax assets	93.0			101.3
Valuation allowance	(21.3		)	(36.6		)
Deferred tax assets, net of valuation allowance	$	71.7		$	64.7
Deferred Tax Liabilities
Intangible asset amortization	$	(238.2	)	$	(241.3	)
Convertible securities interest	(189.2		)	(144.7		)
Non-deductible intangible amortization	(120.1		)	(101.5		)
Deferred revenue	(18.5		)	(32.1		)
Other	(2.8		)	(2.0		)
Total deferred tax liabilities	(568.8		)	(521.6		)
Net deferred tax liability	$	(497.1	)	$	(456.9	)

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 convertible securities also generate deferred taxes because the Company's tax deductions are higher than the interest expense recorded for financial statement purposes.

At December 31, 2013, the Company has state net operating loss carryforwards which expire over a 15-year period beginning in 2014 and foreign loss carryforwards which expire over a five year period. At December 31, 2012 and December 31, 2013, the valuation allowance was principally related to the Company's projections of taxable income prior to the expiration of these carryforwards.

The Company carried a liability for uncertain tax positions of $21.2 million, $22.6 million and $20.4 million as of December 31, 2011, 2012 and 2013, respectively. These amounts included $1.6 million, $2.2 million and $1.7 million of interest and related charges, respectively. At December 31, 2011, 2012 and 2013, these liabilities also included $12.6 million, $19.4 million and $17.2 million, respectively, for tax positions that, if recognized, would affect the Company's effective tax rate.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	For the Years Ended December 31,
	2011			2012			2013
Balance, as of January 1	$	24.6		$	21.2		$	22.6
Additions based on current year tax positions	4.8			5.9			4.1
Additions based on prior years' tax positions	—			5.2			—
Reductions for prior years' tax provisions	—			(5.4		)	(0.1		)
Settlements	(1.2		)	—			—
Reductions related to lapses of statutes of limitations	(6.7		)	(4.6		)	(5.4		)
Additions (reductions) related to foreign exchange rates	(0.3		)	0.3			(0.8		)
Balance, as of December 31	$	21.2		$	22.6		$	20.4

During 2012, this liability decreased $5.4 million as a result of the recognition of tax benefits from the transfer of interests in an Affiliate. This decrease was offset by a $5.2 million provision for added foreign exposure for prior years. The Company does not anticipate that this liability will change significantly over the next twelve months.

The Company periodically has tax examinations in the U.S. 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. The Company is generally no longer subject to income tax examinations by any tax authorities for years before 2008.

Earnings Per Share

12 Months Ended

Dec. 31, 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 Years Ended December 31,
	2011		2012		2013
Numerator
Net income (controlling interest)	$	164.9	$	174.0	$	360.5
Interest expense on convertible securities, net of taxes	—		—		10.5
Net income (controlling interest), as adjusted	$	164.9	$	174.0	$	371.0
Denominator
Average shares outstanding—basic	51.8		51.7		53.1
Effect of dilutive instruments:
Stock options and other awards	1.2		1.3		1.3
Forward sale	—		—		0.3
Junior convertible securities	—		—		2.0
Average shares outstanding—diluted	53.0		53.0		56.7

As more fully discussed in Note 7, 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.

During the years ended December 31, 2011, 2012 and 2013, the Company repurchased approximately 0.7 million, 0.6 million and 0.1 million shares of common stock, respectively, under the share repurchase programs approved by the Company's Board of Directors.

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



	For the Years Ended December 31,
	2011	2012	2013
Stock options and other awards	1.2	0.7	0.1
Senior convertible securities	3.6	3.6	2.1
Junior convertible trust preferred securities	4.2	4.2	2.2
Forward equity sales	—	0.2	—

As discussed further in Note 21, the Company may settle portions of its Affiliate equity purchases 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

12 Months Ended

Dec. 31, 2013

Comprehensive Income

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



	For the Year Ended December 31, 2011
	Pre-Tax			Tax Benefit (Expense)		Net of Tax
Foreign currency translation adjustment	$	(10.2	)	$	—	$	(10.2	)
Change in net realized and unrealized loss on derivative securities	(9.7		)	3.8		(5.9		)
Change in net unrealized loss on investment securities	(56.6		)	22.2		(34.4		)
Other comprehensive income	$	(76.5	)	$	26.0	$	(50.5	)



	For the Year Ended December 31, 2012
	Pre-Tax			Tax Benefit (Expense)			Net of Tax
Foreign currency translation adjustment	$	18.5		$	—		$	18.5
Change in net realized and unrealized loss on derivative securities	(1.1		)	0.4			(0.7		)
Change in net unrealized gain on investment securities	21.6			(8.1		)	13.5
Other comprehensive loss	$	39.0		$	(7.7	)	$	31.3



	For the Year Ended December 31, 2013
	Pre-Tax			Tax Benefit (Expense)			Net of Tax
Foreign currency translation adjustment	$	(19.6	)	$	—		$	(19.6	)
Change in net realized and unrealized loss on derivative securities	1.5			(0.5		)	1.0
Change in net unrealized gain on investment securities	19.5			(8.0		)	11.5
Other comprehensive income	$	1.4		$	(8.5	)	$	(7.1	)

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	(19.6		)	1.0			13.3			(5.3		)
Amounts reclassified from other comprehensive income	—			0.0			(1.8		)	(1.8		)
Net other comprehensive income	(19.6		)	1.0			11.5			(7.1		)
Balance, as of December 31, 2013	$	56.6		$	(1.9	)	$	19.5		$	74.2

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.

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=28358780&loc=d3e689-108580

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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 1
-Subparagraph (SX 210.3-04)
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6522872

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2013

Selected Quarterly Financial Data (Unaudited)

The following is a summary of the quarterly results of operations of the Company for the years ended December 31, 2012 and 2013.



	2012
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenue	$	417.6	$	429.6	$	467.3	$	491.0
Operating income	108.8		25.0		139.7		126.9
Income before income taxes	117.7		62.9		137.5		177.1
Net income (controlling interest)	37.5		6.6		54.9		75.0
Earnings per share—diluted	$	0.71	$	0.12	$	1.04	$	1.40



	2013
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenue	$	502.2	$	541.0	$	551.6	$	594.0
Operating income	150.5		161.4		169.1		153.1
Income before income taxes	167.3		172.4		187.4		336.6
Net income (controlling interest)	62.4		64.7		75.2		158.2
Earnings per share—diluted	$	1.15	$	1.18	$	1.37	$	2.79

Segment Information

12 Months Ended

Dec. 31, 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 wealthy individuals, family trusts and managed account programs.

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 consolidated Affiliates 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, consolidated 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



	Year Ended December 31, 2011
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	841.4		$	723.7		$	139.7		$	1,704.8
Operating expenses:
Depreciation, intangible amortization and impairments	76.9			28.0			7.8			112.7
Other operating expenses	524.9			492.4			88.7			1,106.0
	601.8			520.4			96.5			1,218.7
Operating income	239.6			203.3			43.2			486.1
Income from equity method investments	57.2			7.9			7.6			72.7
Other non-operating (income) and expenses:
Investment and other (income) loss	(6.9		)	0.6			11.3			5.0
Interest expense	39.7			27.7			6.4			73.8
Imputed interest and contingent payment arrangements	15.1			9.9			2.3			27.3
	47.9			38.2			20.0			106.1
Income before income taxes	248.9			173.0			30.8			452.7
Income taxes	53.4			34.4			5.3			93.1
Net income	195.5			138.6			25.5			359.6
Net income (non-controlling interests)	(105.3		)	(73.1		)	(16.3		)	(194.7		)
Net income (controlling interest)	$	90.2		$	65.5		$	9.2		$	164.9
Total assets	$	2,836.2		$	1,920.6		$	462.1		$	5,218.9
Goodwill	$	1,071.4		$	785.0		$	260.9		$	2,117.3
Equity method investments in Affiliates	$	490.6		$	75.6		$	49.6		$	615.8



	Year Ended December 31, 2012
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	861.3		$	774.4		$	169.8		$	1,805.5
Operating expenses:
Depreciation, intangible amortization and impairments	75.4			128.9			9.8			214.1
Other operating expenses	554.2			526.5			110.3			1,191.0
	629.6			655.4			120.1			1,405.1
Operating income	231.7			119.0			49.7			400.4
Income from equity method investments	103.9			12.7			13.1			129.7
Other non-operating (income) and expenses:
Investment and other (income) loss	(13.6		)	(6.6		)	(1.8		)	(22.0		)
Interest expense	50.7			24.0			8.3			83.0
Imputed interest and contingent payment arrangements	(8.1		)	(19.5		)	1.5			(26.1		)
	29.0			(2.1		)	8.0			34.9
Income before income taxes	306.6			133.8			54.8			495.2
Income taxes	63.7			10.7			9.4			83.8
Net income	242.9			123.1			45.4			411.4
Net income (non-controlling interests)	(116.9		)	(95.8		)	(24.7		)	(237.4		)
Net income (controlling interest)	$	126.0		$	27.3		$	20.7		$	174.0
Total assets	$	3,176.5		$	2,354.8		$	655.8		$	6,187.1
Goodwill	$	1,078.5		$	939.5		$	337.2		$	2,355.2
Equity method investments in Affiliates	$	879.6		$	81.2		$	70.5		$	1,031.3



	Year Ended December 31, 2013
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	948.7		$	1,023.0		$	217.1		2,188.8
Operating expenses:
Depreciation, intangible amortization and impairments	82.3			47.4			12.5			142.2
Other operating expenses	620.5			661.2			130.8			1,412.5
	702.8			708.6			143.3			1,554.7
Operating income	245.9			314.4			73.8			634.1
Income from equity method investments	263.9			16.6			27.3			307.8
Other non-operating (income) and expenses:
Investment and other (income) loss	(23.9		)	(15.3		)	(1.6		)	(40.8		)
Interest expense	51.0			27.7			8.6			87.3
Imputed interest and contingent payment arrangements	8.9			20.8			2.0			31.7
	36.0			33.2			9.0			78.2
Income before income taxes	473.8			297.8			92.1			863.7
Income taxes	117.5			56.3			20.3			194.1
Net income	356.3			241.5			71.8			669.6
Net income (non-controlling interests)	(136.4		)	(138.1		)	(34.6		)	(309.1		)
Net income (controlling interest)	$	219.9		$	103.4		$	37.2		$	360.5
Total assets	$	3,196.5		$	2,448.4		$	673.9		$	6,318.8
Goodwill	$	1,076.3		$	928.1		$	337.3		$	2,341.7
Equity method investments in Affiliates	$	942.6		$	77.7		$	103.0		$	1,123.3

In 2011, 2012 and 2013, revenue attributable to clients domiciled outside the U.S. was approximately 39%, 41% and 38% of total revenue, respectively.

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.

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Valuation and Qualifying Accounts [Abstract]

Schedule II Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2013

Schedule II Valuation and Qualifying Accounts

Schedule II

Valuation and Qualifying Accounts



(in millions)	Balance Beginning of Period		Additions Charged to Costs and Expenses		Additions Charged to Other Accounts		Deductions		Balance End of Period
Income Tax Valuation Allowance
Year Ending December 31,
2013	$	21.3	$	16.9	$	—	$	1.6	$	36.6
2012	35.6		—		—		14.3		21.3
2011	38.4		—		—		2.8		35.6

Other Allowances⁽¹⁾
Year Ending December 31,
2013	$	8.4	$	2.8	$	—	$	2.4	$	8.8
2012	9.6		0.1		—		1.3		8.4
2011	8.5		1.2		—		0.1		9.6

_______________________________________________________________________________


(1)	Other Allowances represents reserves on notes received in connection with transfers of our interests in certain Affiliates as well as other receivable amounts, which we consider uncollectible.

Business and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Basis of Presentation

Use of Estimates

Principles of Consolidation

Investments in Affiliates

Affiliate Sponsored Investment Vehicles

Cash and Cash Equivalents

Receivables

Investments in Marketable Securities

Fixed Assets

Leases

Equity Investments in Affiliates

Acquired Client Relationships and Goodwill

Issuance Costs

Derivative Financial Instruments

Contingent Payment Arrangements

Income Taxes

Foreign Currency Translation

Revenue Recognition

Share-Based Compensation Plans

The Company recognizes expenses for all share-based payments based on their grant date fair values over the requisite service period.

Recent Accounting Developments

Investments in Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2013

Marketable Securities [Abstract]

Summary of the cost, gross unrealized gains and losses and fair value of investments

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 2013:



	Available-for-Sale						Trading
	December 31, 2012			December 31, 2013			December 31, 2012			December 31, 2013
Cost	$	103.2		$	103.2		$	10.3		$	17.9
Unrealized Gains	15.3			33.3			6.5			4.6
Unrealized Losses	(3.2		)	(1.1		)	(3.2		)	—
Fair Value	$	115.3		$	135.4		$	13.6		$	22.5

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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

Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2013

Variable Interest Entities

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



	December 31, 2012				December 31, 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	$	8,112.7	$	1.7
Trust preferred vehicles	9.0		9.0		9.0		9.0

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.

Senior Notes (Tables)

12 Months Ended

Dec. 31, 2013

Summary of principal terms of senior notes

At December 31, 2013, the Company has two senior notes outstanding. The principal terms of these notes are summarized below.



	2022 Senior Notes			2042 Senior Notes
Issue date	October 2012			August 2012
Maturity date	October 2022			August 2042
Potential Call Date	October 2015			August 2017
Par value (in millions)	$	140.0		$	200.0
Call Price	At Par			At Par
Stated coupon	5.25		%	6.375		%
Coupon frequency	Quarterly			Quarterly

Convertible Securities (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of carrying amount and fair value of convertible notes

The carrying values of the Company's convertible securities are as follows:



	December 31, 2012				December 31, 2013
	Carrying Value		Principal amount at maturity		Carrying Value		Principal amount at maturity
Senior convertible securities:
2008 senior convertible notes⁽¹⁾	$	450.1	$	460.0	$	—	$	—
Junior convertible trust preferred securities:
2007 junior convertible trust preferred securities⁽¹⁾	$	299.4	$	430.8	$	301.2	$	430.8
2006 junior convertible trust preferred securities⁽¹⁾	216.1		300.0		217.5		300.0
Total junior convertible securities	$	515.5	$	730.8	$	518.7	$	730.8

_______________________________________________________________________________


(1)	Carrying value is accreted to the principal amount at maturity over an expected life of 30 years for each of the junior convertible trust preferred securities.

Schedule of principal terms of convertible notes

The principal terms of these securities are summarized below.



	2006 Junior Convertible Trust Preferred Securities⁽¹⁾			2007 Junior Convertible Trust Preferred Securities⁽²⁾
Issue date	April 2006			October 2007
Maturity date	April 2036			October 2037
Par value (in millions)	$	300.0		$	430.8
Carrying value (in millions)⁽³⁾	$	217.5		$	301.2
Denomination	$	50		$	50
Current conversion rate	0.333			0.250
Current conversion price	$	150.00		$	200.00
Stated coupon	5.10		%	5.15		%
Coupon frequency	Quarterly			Quarterly
Tax deduction rate⁽⁴⁾	7.50		%	8.00		%

_______________________________________________________________________________


(1)	On February 13, 2014, we delivered a notice to redeem all of our outstanding 2006 convertible trust preferred securities. In lieu of redemption, holders of the 2006 junior convertible trust preferred securities may elect to convert their securities into a defined number of shares. Upon conversion, holders will receive cash or shares of our common stock, or a combination thereof, at our election.


(2)	The Company may redeem the 2007 junior convertible trust preferred securities if the closing price of the Company's common stock exceeds $260 per share for 20 trading days in a period of 30 consecutive trading days.


(3)	The carrying value is accreted to the principal amount at maturity over an expected life of 30 years for each of the junior convertible trust preferred securities.

(4)

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate swap agreements

In 2010, the Company entered into interest rate swap agreements as summarized in the table below:



	Notional Amount		Paying		Receiving	Start Date	Expiration Date
Counterparty A	$	25.0	1.67	%	3-Month LIBOR	October 2010	October 2015
Counterparty A	$	25.0	1.65	%	3-Month LIBOR	October 2010	October 2015
Counterparty B	$	25.0	1.59	%	3-Month LIBOR	October 2010	October 2015
Counterparty B	$	25.0	2.14	%	3-Month LIBOR	October 2010	October 2017

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 Years Ended December 31,
Cash Flow Hedges	2011			2012			2013
Interest rate swaps	$	(5.4	)	$	(1.1	)	$	1.5
Treasury rate locks	(4.3		)	—			—
Total	$	(9.7	)	$	(1.1	)	$	1.5

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 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	155.4		15.7		20.8		118.9
Financial Liabilities
Contingent payment arrangements⁽²⁾	$	31.0	$	—	$	—	$	31.0
Obligations to related parties⁽³⁾	77.8		—		—		77.8
Interest rate derivatives⁽⁴⁾	4.0		—		4.0		—



			Fair Value Measurements
	December 31, 2013		Fair Value Measurements
	December 31, 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	$	39.0	$	39.0	$	—	$	—
Investments in marketable securities⁽¹⁾
Trading securities	22.5		22.5		—		—
Available for sale securities	135.4		135.4		—		—
Other investments	164.3		14.1		18.4		131.8
Financial Liabilities
Contingent payment arrangements⁽²⁾	$	50.2	$	—	$	—	$	50.2
Obligations to related parties⁽³⁾	76.9		—		—		76.9
Interest rate derivatives⁽⁴⁾	2.5		—		2.5		—

_______________________________________________________________________________


(1)	Principally investments in equity securities.


(2)	Net present value of expected payments under contingent payment arrangements are reported in Other liabilities.


(3)	Obligations to related parties are presented within Other liabilities.


(4)	Interest rate derivatives are presented within Other liabilities.

Schedule of changes in Level 3 financial assets and financial liabilities

The following table presents the changes in Level 3 assets and liabilities for the years ended December 31, 2012 and 2013:



	For the Twelve Months Ended
	December 31, 2012												December 31, 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 gains/losses	7.8			⁽¹⁾	(40.8		)	⁽²⁾	1.8			⁽³⁾	12.3			⁽¹⁾	19.2		⁽²⁾	6.2			⁽³⁾
Purchases and issuances	18.8				24.8				32.1				18.0				—			62.9
Settlements and reductions	(11.1		)		(40.1		)		(48.1		)		(17.4		)		—			(70.0		)
Net transfers in and/or out of Level 3	—				—				—				—				—			—
Balance, end of period	$	118.9			$	31.0			$	77.8			$	131.8			$	50.2		$	76.9

Net unrealized gains/losses relating to instruments still held at the reporting date	$	11.0			$	(13.5	)		$	0.8			$	16.5			$	19.2		$	2.2

_______________________________________________________________________________


(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 expense 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 expense and contingent payment arrangements. Gains and losses related to liabilities offsetting certain investments are recorded in Investment and other income.

Schedule of quantitative information

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 December 31, 2013		Range at December 31, 2013
Contingent payment arrangements	Discounted cash flow	Growth rates	$	31.0	6.0% - 12.0%	$	50.2	3.0% - 11.0%
		Discount rates			14.0% - 18.0%			14.0% - 18.0%
Affiliate equity repurchase obligations	Discounted cash flow	Growth rates	9.4		(10.0)% - 17.0%	4.0		8.0%
		Discount rates			15.0% - 24.0%			15.0%

Schedule of investments

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



	December 31, 2012				December 31, 2013
Category of Investment	Fair Value		Unfunded Commitments		Fair Value		Unfunded Commitments
Private equity fund-of-funds⁽¹⁾	$	118.9	$	75.4	$	131.8	$	62.9
Other funds⁽²⁾	68.9		—		82.3		—
	$	187.8	$	75.4	$	214.1	$	62.9

_______________________________________________________________________________


(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				December 31, 2013
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value		Fair Value Hierarchy
Senior notes	$	340.0	$	351.8	$	340.0	$	325.0	Level 2
Senior convertible securities	450.1		510.6		—		—		Level 2
Junior convertible trust preferred securities	515.5		719.9		518.7		963.9		Level 2

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2013

Business Combinations [Abstract]

Schedule of purchase price allocation for investments

The aggregate purchase price allocation for these investments is as follows:



	Total
Consideration paid	$	417.8
Non-controlling interests	247.6
Contingent payment obligations	24.8
Enterprise value	$	690.2

Acquired client relationships	$	452.6
Tangible assets, net	11.7
Goodwill	225.9
	$	690.2

Schedule of unaudited pro forma financial results



	For the Years Ended December 31,
	2011		2012
Revenue	$	1,810.9	$	1,881.0
Net income (controlling interest)	179.6		186.0
Earnings per share—basic	$	3.47	$	3.60
Earnings per share—diluted	$	3.39	$	3.51

Goodwill and Acquired Client Relationships (Tables)

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in goodwill

The following table presents the change in Goodwill during 2012 and 2013:



	Institutional			Mutual Fund			High Net Worth		Total
Balance, as of December 31, 2011	$	1,071.4		$	785.0		$	260.9	$	2,117.3
Goodwill acquired	0.3			151.3			74.3		225.9
Foreign currency translation	6.8			3.2			2.0		12.0
Balance, as of December 31, 2012	$	1,078.5		$	939.5		$	337.2	$	2,355.2
Goodwill acquired	—			—			—		—
Foreign currency translation	(2.2		)	(11.4		)	0.1		(13.5		)
Balance, as of December 31, 2013	$	1,076.3		$	928.1		$	337.3	$	2,341.7

Schedule of changes in and the components of acquired client relationships

The following table reflects the components of intangible assets of the Company's Affiliates that are consolidated as of December 31, 2012 and 2013:



	Acquired Client Relationships
	Definite-lived									Indefinite-lived			Total
	Gross Book Value			Accumulated Amortization			Net Book Value			Net Book Value			Net Book Value
Balance, as of December 31, 2011	$	970.5		$	(317.0	)	$	653.5		$	667.6		$	1,321.1
New Investments	131.1			—			131.1			321.5			452.6
Amortization and impairments	—			(97.8		)	(97.8		)	(102.2		)	(200.0		)
Foreign currency translation	1.1			—			1.1			10.7			11.8
Transfers and other	6.9			31.3			38.2			(38.2		)	—
Balance, as of December 31, 2012	$	1,109.6		$	(383.5	)	$	726.1		$	859.4		$	1,585.5
New Investments	—			—			—			—			—
Amortization and impairments	—			(128.2		)	(128.2		)	—			(128.2		)
Foreign currency translation	(1.2		)	—			(1.2		)	4.6			3.4
Transfers and other	(68.9		)	68.9			—			—			—
Balance, as of December 31, 2013	$	1,039.5		$	(442.8	)	$	596.7		$	864.0		$	1,460.7

Equity Investments in Affiliates (Tables)

12 Months Ended

Dec. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

Schedule of annual amortization expense attributable to current equity method Affiliates for next five years

Assuming no additional investments in new or existing Affiliates, the Company estimates the annual amortization expense attributable to its current equity-method Affiliates for the next five years as follows:



Year Ending December 31,	Estimated Amortization Expense
2014	$	20.7
2015	12.4
2016	9.8
2017	9.8
2018	9.8

Schedule of financial information for Affiliates accounted for under the equity method

The following table presents summarized financial information for Affiliates accounted for under the equity method.



	For the Years Ended December 31,
	2011		2012		2013
Revenue⁽¹⁾	$	581.0	$	1,005.4	$	1,589.6
Net income	387.9		783.3		1,321.9



	December 31,
	2012		2013
Current assets⁽²⁾	$	11,957.8	$	19,084.4
Noncurrent assets	34.7		55.3
Current liabilities	1,361.5		1,674.5
Noncurrent liabilities and Non-controlling interest⁽²⁾	9,857.6		16,089.0

_______________________________________________________________________________


(1)	Revenue includes advisory fees for asset management services, investment income and dividends from consolidated investment partnerships.


(2)	The Company is not entitled to assets held by investors that are unrelated to the Company including consolidated investment partnerships.

Fixed Assets and Lease Commitments (Tables)

12 Months Ended

Dec. 31, 2013

Fixed Assets and Lease Commitments

Schedule of fixed assets

Fixed assets consisted of the following:



	December 31,
	2012			2013
Building and leasehold improvements	$	74.7		$	78.5
Equipment	38.9			36.5
Furniture and fixtures	16.3			15.4
Land and improvements	18.1			18.9
Software	21.4			30.6
Fixed assets, at cost	169.4			179.9
Accumulated depreciation and amortization	(87.9		)	(87.6		)
Fixed assets, net	$	81.5		$	92.3

Schedule of aggregate future minimum payments for operating leases

At December 31, 2013, the Company's aggregate future minimum payments for operating leases having initial or non-cancelable lease terms greater than one year are payable as follows:



	Required Minimum Payments
2014	$	30.1
2015	29.2
2016	23.5
2017	21.4
2018	19.8
Thereafter	69.5

Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2013

Payables and Accruals [Abstract]

Schedule of accounts payable and accrued liabilities

Accounts payable and accrued liabilities consisted of the following:



	December 31,
	2012		2013
Accrued compensation	$	138.8	$	187.9
Unsettled fund share payables	39.8		$	84.6
Accrued income taxes	13.7		73.0
Accrued professional fees	28.7		33.4
Accrued interest	19.3		11.8
Accrued distributions	13.2		23.6
Accounts payable	59.5		23.5
Other	50.3		76.9
	$	363.3	$	514.7

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of recent share repurchase activity

A summary of the Company's recent share repurchase activity is as follows:



Period	Shares Repurchased	Average Price
2011	0.7	$	83.63
2012	0.6	$	107.44
2013	0.1	$	184.89

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 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—January 1, 2013	3.8		$	74.04
Options granted	0.0		191.75
Options exercised	(0.8	)	62.59
Options forfeited	(0.0	)	81.49
Unexercised options outstanding—December 31, 2013	3.0		77.71		3.4
Exercisable at December 31, 2013	2.4		73.56		3.2

Schedule of assumptions used to determine fair value of options granted

The weighted average fair value of options granted during the years ended December 31, 2011, 2012 and 2013 was $30.27, $40.43 and $61.82 per option, respectively, based on the weighted-average grant date assumptions stated below.



	For the Years Ended December 31,
	2011		2012		2013
Dividend yield	0.0	%	0.0	%	0.0	%
Expected volatility⁽¹⁾	33.1	%	36.8	%	34.4	%
Risk-free interest rate⁽²⁾	1.3	%	0.7	%	1.5	%
Expected life of options (in years)⁽³⁾	4.8		5.0		5.0
Forfeiture rate⁽³⁾	2.4	%	1.4	%	0.0	%

_______________________________________________________________________________


(1)	Based on historical and implied volatility.


(2)	Based on the U.S. Treasury yield curve in effect at the date of grant.


(3)	Based on the Company's historical data and expected exercise behavior.

Summary of transactions of the Company's restricted stock

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



	Restricted Stock		Weighted Average Grant Date Value
Unvested units—January 1, 2013	0.4		$	84.53
Units granted	0.3		208.76
Units vested	(0.2	)	50.46
Units forfeited	(0.0	)	94.83
Unvested units—December 31, 2013	0.5		176.38

Summary of recent share based compensation expense

A summary of recent share-based compensation expense is as follows:



Period	Share-Based Compensation Expense		Tax Benefit
2011	$	21.2	$	8.1
2012	25.4		9.6
2013	27.5		10.6

Affiliate Equity (Tables)

12 Months Ended

Dec. 31, 2013

Affiliate Equity

Summary of affiliate equity compensation expense

A summary of Affiliate equity compensation expense is as follows:



Period	Affiliate Equity Compensation Expense		Tax Benefit
2011	$	38.1	$	12.0
2012	60.4		17.0
2013	72.3		21.7

Schedule of the changes in redeemable non-controlling interests

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



	December 31,
	2012			2013
Balance, as of January 1	$	451.8		$	477.5
Transactions in Redeemable non-controlling interests	(17.2		)	(52.5		)
Changes in redemption value	42.9			216.9
Balance, as of December 31	$	477.5		$	641.9

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 interests in its Affiliates on the controlling interest's equity:



	For the Years Ended December 31,
	2011			2012			2013
Net income (controlling interest)	$	164.9		$	174.0		$	360.5
Increase (decrease) in controlling interest paid-in capital from the sale of Affiliate equity	(28.1		)	(44.0		)	(74.0		)
Change from Net income (controlling interest) and net transfers with non-controlling interests	$	136.8		$	130.0		$	286.5

Income Taxes (Tables)

12 Months Ended

Dec. 31, 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 Years Ended December 31,
	2011			2012			2013
Controlling Interests:
Current tax	$	45.0		$	61.0		$	153.1
Intangible related deferred taxes	43.2			22.7			38.1
Other deferred taxes	(4.0		)	(12.1		)	(6.2		)
Total controlling interests	84.2			71.6			185.0
Non-controlling Interests:
Current tax	$	12.9		$	11.7		$	13.3
Deferred taxes	(4.0		)	0.5			(4.2		)
Total non-controlling interests	8.9			12.2			9.1
Provision for income taxes	$	93.1		$	83.8		$	194.1
Income before income taxes (controlling interest)	$	249.1		$	245.6		$	545.5
Effective tax rate attributable to controlling interests⁽¹⁾	33.8		%	29.2		%	33.9		%

_______________________________________________________________________________


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

Schedule of consolidated provision for income taxes

A summary of the consolidated provision for income taxes is as follows:



	For the Years Ended December 31,
	2011			2012			2013
Current:
Federal	$	6.2		$	14.5		$	104.1
State	11.2			14.2			21.1
Foreign	40.5			44.0			41.2
Total current	57.9			72.7			166.4
Deferred:
Federal	46.8			19.8			38.1
State	5.0			4.6			8.9
Foreign	(16.6		)	(13.3		)	(19.3		)
Total deferred	35.2			11.1			27.7
Provision for income taxes	$	93.1		$	83.8		$	194.1

Schedule of components of income before income taxes

The components of income before income taxes consisted of the following:



	For the Years Ended December 31,
	2011		2012		2013
Domestic	$	243.8	$	238.6	$	604.0
International	208.9		256.6		259.7
	$	452.7	$	495.2	$	863.7

Schedule of effective income tax rate computed by using income before income taxes and applying U.S. federal income tax rate



	For the Years Ended December 31,
	2011		2012		2013
Tax at U.S. federal income tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	1.4		3.5		2.8
Non-deductible expenses	0.5		0.7		0.3
Valuation allowance	(0.1	)	(4.7	)	(0.3	)
Effect of foreign operations	—		(2.9	)	(2.3	)
Foreign basis differences	(0.9	)	(0.4	)	(0.2	)
Effect of changes in tax law, rates	(2.1	)	(2.0	)	(1.4	)
Effect of income from non-controlling interests	(13.2	)	(12.2	)	(11.4	)
	20.6	%	17.0	%	22.5	%

Schedule of components of deferred tax assets and liabilities

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



	December 31,
	2012			2013
Deferred Tax Assets
State net operating loss carryforwards	$	23.9		$	29.3
Deferred compensation	23.9			29.1
Foreign tax credit carryforwards	20.1			—
Tax benefit of uncertain tax positions	17.6			16.2
Accrued expenses	6.0			17.6
Foreign loss carryforwards	1.5			9.1
Total deferred tax assets	93.0			101.3
Valuation allowance	(21.3		)	(36.6		)
Deferred tax assets, net of valuation allowance	$	71.7		$	64.7
Deferred Tax Liabilities
Intangible asset amortization	$	(238.2	)	$	(241.3	)
Convertible securities interest	(189.2		)	(144.7		)
Non-deductible intangible amortization	(120.1		)	(101.5		)
Deferred revenue	(18.5		)	(32.1		)
Other	(2.8		)	(2.0		)
Total deferred tax liabilities	(568.8		)	(521.6		)
Net deferred tax liability	$	(497.1	)	$	(456.9	)

Schedule of reconciliation of beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	For the Years Ended December 31,
	2011			2012			2013
Balance, as of January 1	$	24.6		$	21.2		$	22.6
Additions based on current year tax positions	4.8			5.9			4.1
Additions based on prior years' tax positions	—			5.2			—
Reductions for prior years' tax provisions	—			(5.4		)	(0.1		)
Settlements	(1.2		)	—			—
Reductions related to lapses of statutes of limitations	(6.7		)	(4.6		)	(5.4		)
Additions (reductions) related to foreign exchange rates	(0.3		)	0.3			(0.8		)
Balance, as of December 31	$	21.2		$	22.6		$	20.4

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 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 Years Ended December 31,
	2011		2012		2013
Numerator
Net income (controlling interest)	$	164.9	$	174.0	$	360.5
Interest expense on convertible securities, net of taxes	—		—		10.5
Net income (controlling interest), as adjusted	$	164.9	$	174.0	$	371.0
Denominator
Average shares outstanding—basic	51.8		51.7		53.1
Effect of dilutive instruments:
Stock options and other awards	1.2		1.3		1.3
Forward sale	—		—		0.3
Junior convertible securities	—		—		2.0
Average shares outstanding—diluted	53.0		53.0		56.7

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 Years Ended December 31,
	2011	2012	2013
Stock options and other awards	1.2	0.7	0.1
Senior convertible securities	3.6	3.6	2.1
Junior convertible trust preferred securities	4.2	4.2	2.2
Forward equity sales	—	0.2	—

Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2013

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 Year Ended December 31, 2011
	Pre-Tax			Tax Benefit (Expense)		Net of Tax
Foreign currency translation adjustment	$	(10.2	)	$	—	$	(10.2	)
Change in net realized and unrealized loss on derivative securities	(9.7		)	3.8		(5.9		)
Change in net unrealized loss on investment securities	(56.6		)	22.2		(34.4		)
Other comprehensive income	$	(76.5	)	$	26.0	$	(50.5	)



	For the Year Ended December 31, 2012
	Pre-Tax			Tax Benefit (Expense)			Net of Tax
Foreign currency translation adjustment	$	18.5		$	—		$	18.5
Change in net realized and unrealized loss on derivative securities	(1.1		)	0.4			(0.7		)
Change in net unrealized gain on investment securities	21.6			(8.1		)	13.5
Other comprehensive loss	$	39.0		$	(7.7	)	$	31.3



	For the Year Ended December 31, 2013
	Pre-Tax			Tax Benefit (Expense)			Net of Tax
Foreign currency translation adjustment	$	(19.6	)	$	—		$	(19.6	)
Change in net realized and unrealized loss on derivative securities	1.5			(0.5		)	1.0
Change in net unrealized gain on investment securities	19.5			(8.0		)	11.5
Other comprehensive income	$	1.4		$	(8.5	)	$	(7.1	)

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	(19.6		)	1.0			13.3			(5.3		)
Amounts reclassified from other comprehensive income	—			0.0			(1.8		)	(1.8		)
Net other comprehensive income	(19.6		)	1.0			11.5			(7.1		)
Balance, as of December 31, 2013	$	56.6		$	(1.9	)	$	19.5		$	74.2

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly results of operations

The following is a summary of the quarterly results of operations of the Company for the years ended December 31, 2012 and 2013.



	2012
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenue	$	417.6	$	429.6	$	467.3	$	491.0
Operating income	108.8		25.0		139.7		126.9
Income before income taxes	117.7		62.9		137.5		177.1
Net income (controlling interest)	37.5		6.6		54.9		75.0
Earnings per share—diluted	$	0.71	$	0.12	$	1.04	$	1.40



	2013
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenue	$	502.2	$	541.0	$	551.6	$	594.0
Operating income	150.5		161.4		169.1		153.1
Income before income taxes	167.3		172.4		187.4		336.6
Net income (controlling interest)	62.4		64.7		75.2		158.2
Earnings per share—diluted	$	1.15	$	1.18	$	1.37	$	2.79

Segment Information (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Schedule of segment information



	Year Ended December 31, 2011
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	841.4		$	723.7		$	139.7		$	1,704.8
Operating expenses:
Depreciation, intangible amortization and impairments	76.9			28.0			7.8			112.7
Other operating expenses	524.9			492.4			88.7			1,106.0
	601.8			520.4			96.5			1,218.7
Operating income	239.6			203.3			43.2			486.1
Income from equity method investments	57.2			7.9			7.6			72.7
Other non-operating (income) and expenses:
Investment and other (income) loss	(6.9		)	0.6			11.3			5.0
Interest expense	39.7			27.7			6.4			73.8
Imputed interest and contingent payment arrangements	15.1			9.9			2.3			27.3
	47.9			38.2			20.0			106.1
Income before income taxes	248.9			173.0			30.8			452.7
Income taxes	53.4			34.4			5.3			93.1
Net income	195.5			138.6			25.5			359.6
Net income (non-controlling interests)	(105.3		)	(73.1		)	(16.3		)	(194.7		)
Net income (controlling interest)	$	90.2		$	65.5		$	9.2		$	164.9
Total assets	$	2,836.2		$	1,920.6		$	462.1		$	5,218.9
Goodwill	$	1,071.4		$	785.0		$	260.9		$	2,117.3
Equity method investments in Affiliates	$	490.6		$	75.6		$	49.6		$	615.8



	Year Ended December 31, 2012
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	861.3		$	774.4		$	169.8		$	1,805.5
Operating expenses:
Depreciation, intangible amortization and impairments	75.4			128.9			9.8			214.1
Other operating expenses	554.2			526.5			110.3			1,191.0
	629.6			655.4			120.1			1,405.1
Operating income	231.7			119.0			49.7			400.4
Income from equity method investments	103.9			12.7			13.1			129.7
Other non-operating (income) and expenses:
Investment and other (income) loss	(13.6		)	(6.6		)	(1.8		)	(22.0		)
Interest expense	50.7			24.0			8.3			83.0
Imputed interest and contingent payment arrangements	(8.1		)	(19.5		)	1.5			(26.1		)
	29.0			(2.1		)	8.0			34.9
Income before income taxes	306.6			133.8			54.8			495.2
Income taxes	63.7			10.7			9.4			83.8
Net income	242.9			123.1			45.4			411.4
Net income (non-controlling interests)	(116.9		)	(95.8		)	(24.7		)	(237.4		)
Net income (controlling interest)	$	126.0		$	27.3		$	20.7		$	174.0
Total assets	$	3,176.5		$	2,354.8		$	655.8		$	6,187.1
Goodwill	$	1,078.5		$	939.5		$	337.2		$	2,355.2
Equity method investments in Affiliates	$	879.6		$	81.2		$	70.5		$	1,031.3



	Year Ended December 31, 2013
	Institutional			Mutual Fund			High Net Worth			Total
Revenue	$	948.7		$	1,023.0		$	217.1		2,188.8
Operating expenses:
Depreciation, intangible amortization and impairments	82.3			47.4			12.5			142.2
Other operating expenses	620.5			661.2			130.8			1,412.5
	702.8			708.6			143.3			1,554.7
Operating income	245.9			314.4			73.8			634.1
Income from equity method investments	263.9			16.6			27.3			307.8
Other non-operating (income) and expenses:
Investment and other (income) loss	(23.9		)	(15.3		)	(1.6		)	(40.8		)
Interest expense	51.0			27.7			8.6			87.3
Imputed interest and contingent payment arrangements	8.9			20.8			2.0			31.7
	36.0			33.2			9.0			78.2
Income before income taxes	473.8			297.8			92.1			863.7
Income taxes	117.5			56.3			20.3			194.1
Net income	356.3			241.5			71.8			669.6
Net income (non-controlling interests)	(136.4		)	(138.1		)	(34.6		)	(309.1		)
Net income (controlling interest)	$	219.9		$	103.4		$	37.2		$	360.5
Total assets	$	3,196.5		$	2,448.4		$	673.9		$	6,318.8
Goodwill	$	1,076.3		$	928.1		$	337.3		$	2,341.7
Equity method investments in Affiliates	$	942.6		$	77.7		$	103.0		$	1,123.3

Business and Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2013
Office equipment and furniture and fixtures [Member] \| Minimum [Member]
Fixed Assets
Estimated useful life	3 years
Office equipment and furniture and fixtures [Member] \| Maximum [Member]
Fixed Assets
Estimated useful life	10 years
Computer software [Member] \| Maximum [Member]
Fixed Assets
Estimated useful life	3 years
Building [Member]
Fixed Assets
Estimated useful life	39 years

Investments in Marketable Securities - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Cost of investments in marketable securities, gross unrealized gains and losses
Total investment	$ 157.9	$ 128.9

Investments in Marketable Securities - Summary of cost, gross unrealized gains, gross unrealized losses and fair value (Details) - Equity securities [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Available-for-Sale
Cost	$ 103.2	$ 103.2
Unrealized Gains	33.3	15.3
Unrealized Losses	(1.1)	(3.2)
Fair Value	135.4	115.3
Trading
Cost	17.9	10.3
Unrealized Gains	4.6	6.5
Unrealized Losses	0.0	(3.2)
Fair Value	$ 22.5	$ 13.6

Variable Interest Entities (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Sponsored investment funds [Member]
Variable Interest Entities
Unconsolidated VIE Net Assets	$ 8,112.7	$ 7,186.9
Carrying Value and Maximum Exposure to Loss	1.7	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

Senior Bank Debt (Details) - USD ($) $ in Millions	12 Months Ended
Senior Bank Debt (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012	Apr. 30, 2013
Deb Instrument [Line Items]
Weighted average interest rate	1.95%	2.77%
Commitment fee amount	$ 3.2	$ 3.7
Line of Credit [Member]
Deb Instrument [Line Items]
Line of credit facility amount outstanding	$ 525.0	$ 325.0
Senior unsecured revolving credit facility [Member]
Deb Instrument [Line Items]
Maximum borrowing capacity			$ 1,250.0

Senior Notes (Details)	12 Months Ended
Senior Notes (Details)	Dec. 31, 2013 USD ($) senior_note	Feb. 11, 2014 USD ($)	Dec. 31, 2012 USD ($)
Debt Disclosure [Abstract]
Number of senior notes outstanding \| senior_note	2
Deb Instrument [Line Items]
Par value	$ 730,800,000		$ 730,800,000
2022 Senior Notes [Member]
Deb Instrument [Line Items]
Par value	$ 140,000,000
Interest rate	5.25%
2042 Senior Notes [Member]
Deb Instrument [Line Items]
Par value	$ 200,000,000
Interest rate	6.375%
2024 Senior Notes [Member] \| Subsequent Event [Member]
Deb Instrument [Line Items]
Par value		$ 400,000,000.0
Interest rate		4.25%

Convertible Securities - Schedule of carrying amount and fair value of convertible notes (Details)
$ in Millions

12 Months Ended

Dec. 31, 2013

USD ($)

junior_note

Dec. 31, 2012

USD ($)

Junior convertible trust preferred securities, Carrying Value

$ 518.7

$ 515.5

2008 senior convertible notes [Member]

730.8

Senior convertible securities, Carrying Value

Repurchased face amount

$ 460.0

Interest rate

3.95%

Repurchase amount

$ 641.3

^[1]

0.0

450.1

Junior convertible trust preferred securities [Member]

^[1]

$ 0.0

460.0

Number of securities outstanding | junior_note

Debt instrument term

30 years

2007 junior convertible trust preferred securities [Member]

Junior convertible trust preferred securities, Carrying Value

Interest rate

^[2]

5.15%

^[1]

$ 301.2

^[2],[3]

299.4

2006 junior convertible trust preferred securities [Member]

^[1]

$ 430.8

^[2]

430.8

Junior convertible trust preferred securities, Carrying Value

Interest rate

^[4]

5.10%

^[1]

$ 217.5

^[3],[4]

216.1

^[1]

$ 300.0

^[4]

$ 300.0

[1]	Carrying value is accreted to the principal amount at maturity over an expected life of 30 years for each of the junior convertible trust preferred securities.
[2]	The Company may redeem the 2007 junior convertible trust preferred securities if the closing price of the Company's common stock exceeds $260 per share for 20 trading days in a period of 30 consecutive trading days.
[3]	The carrying value is accreted to the principal amount at maturity over an expected life of 30 years for each of the junior convertible trust preferred securities.
[4]	On February 13, 2014, we delivered a notice to redeem all of our outstanding 2006 convertible trust preferred securities. In lieu of redemption, holders of the 2006 junior convertible trust preferred securities may elect to convert their securities into a defined number of shares. Upon conversion, holders will receive cash or shares of our common stock, or a combination thereof, at our election.

Convertible Securities- Schedule of principal terms of convertible notes (Details)

12 Months Ended

Dec. 31, 2013

USD ($)

trading_day

$ / shares

Dec. 31, 2012

USD ($)

Junior convertible trust preferred securities, Carrying Value

$ 730,800,000

518,700,000

515,500,000

Deferred tax liability from excess interest expense calculation

$ 12,900,000

Junior convertible trust preferred securities [Member]

2006 Junior Convertible Trust Preferred Securities [Member]

Debt instrument term

30 years

Junior convertible trust preferred securities, Carrying Value

^[1]

$ 300,000,000

^[2]

300,000,000

^[1]

217,500,000

^[2],[3]

216,100,000

Denomination

^[2]

$ 50

Current conversion rate

^[2]

0.333

Current conversion price | $ / shares

^[2]

$ 150.00

Stated coupon

^[2]

5.10%

Tax deduction rate(4)

^[2],[4]

7.50%

Redemption of debt

$ 8,100,000

2007 Junior Convertible Trust Preferred Securities [Member]

Junior convertible trust preferred securities, Carrying Value

^[1]

430,800,000

^[5]

430,800,000

^[1]

301,200,000

^[3],[5]

299,400,000

Denomination

^[5]

$ 50

Current conversion rate

^[5]

0.250

Current conversion price | $ / shares

^[5]

$ 200.00

Stated coupon

^[5]

5.15%

Tax deduction rate(4)

^[4],[5]

8.00%

Price per share that must be exceeded for conversion | $ / shares

$ 260

Trading days | trading_day

Consecutive trading days

30 days

2008 senior convertible notes [Member]

Deferred tax liability from excess interest expense calculation reclassified to stockholders' equity

^[1]

$ 0

$ 460,000,000

Stated coupon

3.95%

$ 50,600,000

[1]	Carrying value is accreted to the principal amount at maturity over an expected life of 30 years for each of the junior convertible trust preferred securities.
[2]	On February 13, 2014, we delivered a notice to redeem all of our outstanding 2006 convertible trust preferred securities. In lieu of redemption, holders of the 2006 junior convertible trust preferred securities may elect to convert their securities into a defined number of shares. Upon conversion, holders will receive cash or shares of our common stock, or a combination thereof, at our election.
[3]	The carrying value is accreted to the principal amount at maturity over an expected life of 30 years for each of the junior convertible trust preferred securities.
[4]	These convertible securities are considered contingent payment debt instruments under federal income tax regulations, which require the Company to deduct interest in an amount greater than its reported Interest expense. These deductions result in annual deferred tax liabilities of approximately $12.9 million ($8.1 million assuming the redemption of the 2006 convertible trust preferred securities). These deferred tax liabilities will be reclassified directly to stockholders' equity if the Company's common stock is trading above certain thresholds at the time of the conversion of the securities. In 2013 , $50.6 million was reclassified to stockholders' equity related to the repurchase of the 2008 senior convertible notes.
[5]	The Company may redeem the 2007 junior convertible trust preferred securities if the closing price of the Company's common stock exceeds $260 per share for 20 trading days in a period of 30 consecutive trading days.

Forward Equity Sale Agreement (Details) $ in Millions	12 Months Ended
Forward Equity Sale Agreement (Details) $ in Millions	Dec. 31, 2013 USD ($) $ / shares	Dec. 31, 2012 USD ($) $ / shares
Forward equity sale agreement
Notional amount sold	$ 77.0
Average share price (in dollars per share) \| $ / shares	185.56
Equity Contract [Member]
Forward equity sale agreement
Notional Amount	$ 70.2
Amended and restated forward equity sale agreement [Member]
Forward equity sale agreement
Value of common stock to sell under each agreement, maximum		$ 400.0
Notional amount sold		$ 147.2
Average share price (in dollars per share) \| $ / shares		121.37

Derivative Financial Instruments - Schedule of interest rate swap agreements (Details) - Interest rate swaps [Member] $ in Millions	12 Months Ended
	Dec. 31, 2010 USD ($)
Counterparty A paying 1.67% interest [Member]
Derivative financial instruments
Notional Amount	$ 25.0
Paying	1.67%
Receiving	3-Month LIBOR
Counterparty A paying 1.65% interest [Member]
Derivative financial instruments
Notional Amount	$ 25.0
Paying	1.65%
Receiving	3-Month LIBOR
Counterparty B paying 1.59% interest [Member]
Derivative financial instruments
Notional Amount	$ 25.0
Paying	1.59%
Receiving	3-Month LIBOR
Counterparty B paying 2.14% interest [Member]
Derivative financial instruments
Notional Amount	$ 25.0
Paying	2.14%
Receiving	3-Month LIBOR

Derivative Financial Instruments - Schedule of amount of derivative instrument gains and (losses) before taxes (Details) - Cash Flow Hedges [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
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	$ 1.5	$ (1.1)	$ (9.7)
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	1.5	(1.1)	(5.4)
Treasury rate locks [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	$ 0.0	$ (4.3)

Derivative Financial Instruments - Narrative (Details) - Interest rate swaps [Member] - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Fair values of derivative instruments
Collateral posted	$ 3.6
Fair value of derivative assets	$ 2.5	$ 4.0

Commitments and Contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Commitments and Contingencies
Co-investment commitments in partnership		$ 62.9
Acquisition agreements contingency liability		474.1
Expected payments to settle contingent obligations		75.0
Expected payments related to equity method investments		151.0
Net present value of expected payments to settle contingent obligations		50.2
Scenario, Forecast [Member]
Commitments and Contingencies
Expected payments to settle contingent obligations	$ 0.0
Pantheon's prior owner [Member]
Commitments and Contingencies
Reimbursable amount of investment commitments		$ 29.0

Fair Value Measurements - Schedule of fair value of financial assets and liabilities measured on a recurring basis (Details) - USD ($)
$ in Millions

Dec. 31, 2013

Dec. 31, 2012

$ 214.1

$ 187.8

Level 1 to Level 2 transfers

0.0

2.0

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

39.0

13.5

^[1]

22.5

13.6

^[1]

135.4

115.3

164.3

155.4

^[2]

50.2

31.0

^[3]

76.9

77.8

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

^[4]

2.5

4.0

39.0

13.5

^[1]

22.5

13.6

^[1]

135.4

115.3

14.1

15.7

^[2]

0.0

^[3]

0.0

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

^[4]

0.0

0.0

^[1]

0.0

^[1]

0.0

18.4

20.8

^[2]

0.0

^[3]

0.0

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

^[4]

2.5

4.0

0.0

^[1]

0.0

^[1]

0.0

131.8

118.9

^[2]

50.2

31.0

^[3]

76.9

77.8

Other Investments [Member]

^[4]

$ 0.0

[1]	Principally investments in equity securities.
[2]	Net present value of expected payments under contingent payment arrangements are reported in Other liabilities.
[3]	Obligations to related parties are presented within Other liabilities.
[4]	Interest rate derivatives are presented within Other liabilities.

Fair Value Measurements - Schedule of changes in Level 3 financial assets and liabilities (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Changes in level 3 assets and liabilities

Balance, beginning of period

$ 118.9

$ 103.4

Net gains/losses

^[1]

12.3

7.8

Purchases and issuances

18.0

18.8

Settlements and reductions

(17.4)

(11.1)

Net transfers in and/or out of Level 3

0.0

Balance, end of period

131.8

118.9

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

16.5

11.0

Contingent Payment Arrangements [Member]

Changes in level 3 assets and liabilities

Balance, beginning of period

31.0

87.1

Net gains/losses

^[2]

19.2

(40.8)

Purchases and issuances

0.0

24.8

Settlements and reductions

0.0

(40.1)

Net transfers in and/or out of Level 3

0.0

Balance, end of period

50.2

31.0

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

19.2

(13.5)

Obligations to related parties [Member]

Changes in level 3 assets and liabilities

Balance, beginning of period

77.8

92.0

Net gains/losses

^[3]

6.2

1.8

Purchases and issuances

62.9

32.1

Settlements and reductions

(70.0)

(48.1)

Net transfers in and/or out of Level 3

0.0

Balance, end of period

76.9

77.8

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

$ 2.2

$ 0.8

[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 expense 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 expense and contingent payment arrangements. Gains and losses related to liabilities offsetting certain investments are recorded in Investment and other income.

Fair Value Measurements - Schedule of quantitative information (Details) - Discounted cash flow - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Contingent Payment Arrangements [Member]
Quantitative information for Level 3 Fair Value Measurements Liabilities
Fair value Liabilities	$ 50.2	$ 31.0
Contingent Payment Arrangements [Member] \| Minimum [Member]
Quantitative information for Level 3 Fair Value Measurements Liabilities
Growth rate (as a percent)	3.00%	6.00%
Discount rate (as a percent)	14.00%	14.00%
Contingent Payment Arrangements [Member] \| Maximum [Member]
Quantitative information for Level 3 Fair Value Measurements Liabilities
Growth rate (as a percent)	11.00%	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	$ 4.0	$ 9.4
Growth rate (as a percent)	8.00%
Discount rate (as a percent)	15.00%
Affiliate equity repurchase obligations [Member] \| Minimum [Member]
Quantitative information for Level 3 Fair Value Measurements Liabilities
Growth rate (as a percent)		(10.00%)
Discount rate (as a percent)		15.00%
Affiliate equity repurchase obligations [Member] \| Maximum [Member]
Quantitative information for Level 3 Fair Value Measurements Liabilities
Growth rate (as a percent)		17.00%
Discount rate (as a percent)		24.00%

Fair Value Measurements - Schedule of investments (Details) - USD ($)
$ in Millions

Dec. 31, 2013

Dec. 31, 2012

NAV of investments at fair value

Fair Value

$ 214.1

$ 187.8

Unfunded Commitments

62.9

75.4

Private equity fund-of-funds [Member]

NAV of investments at fair value

Fair Value

^[1]

131.8

118.9

Unfunded Commitments

^[1]

62.9

75.4

Other funds [Member]

NAV of investments at fair value

Fair Value

^[2]

82.3

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 - Summary of other financial liabilities not carried at fair value (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Junior convertible trust preferred securities	$ 518.7	$ 515.5
Carrying Amount [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	340.0	340.0
Convertible securities	0.0	450.1
Junior convertible trust preferred securities	518.7	515.5
Estimated Fair Value [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	325.0	351.8
Convertible securities	0.0	510.6
Junior convertible trust preferred securities	$ 963.9	$ 719.9

Business Combinations Narrative (Details) - New Affiliates [Member]	12 Months Ended
	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($) affiliate
Business Acquisition [Line Items]
Number of businesses acquired \| affiliate		2
Tax deduction period for goodwill and client relationships amortization expense		15 years
Maximum contingent payments to be made		$ 75,000,000.0
Contingencies amount to be recognized after period of acquisition, minimum		3 years
Contingencies amount to be recognized after period of acquisition, maximum		5 years
New affiliate investments contributed revenue	$ 227,900,000	$ 88,000,000
New affiliate investments contributed earnings	$ 32,100,000	$ 14,500,000
Mutual Fund [Member]
Business Acquisition [Line Items]
Goodwill percentage attributable to segments		67.00%
High Net Worth [Member]
Business Acquisition [Line Items]
Goodwill percentage attributable to segments		32.90%
Institutional [Member]
Business Acquisition [Line Items]
Goodwill percentage attributable to segments		0.10%

Business Combinations Schedule of purchase price allocation for investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2011
Business Acquisition [Line Items]
Goodwill	$ 2,355.2	$ 2,341.7	$ 2,117.3
New Affiliates [Member]
Business Acquisition [Line Items]
Consideration paid	417.8
Non-controlling interests	247.6
Contingent payment obligations	24.8
Enterprise value	690.2
Acquired client relationships	452.6
Tangible assets, net	11.7
Goodwill	225.9
Total	$ 690.2

Business Combinations Schedule of unaudited pro forma financial results (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Business Combinations [Abstract]
Revenue	$ 1,881.0	$ 1,810.9
Net income (controlling interest)	$ 186.0	$ 179.6
Earnings per share—basic (in dollars per share)	$ 3.60	$ 3.47
Earnings per share—diluted (in dollars per share)	$ 3.51	$ 3.39

Goodwill and Acquired Client Relationships - Schedule of changes in goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Changes in goodwill
Balance at the beginning of the period	$ 2,355.2	$ 2,117.3
Goodwill acquired	0.0	225.9
Foreign currency translation	(13.5)	12.0
Balance at the end of the period	2,341.7	2,355.2
Institutional [Member]
Changes in goodwill
Balance at the beginning of the period	1,078.5	1,071.4
Goodwill acquired	0.0	0.3
Foreign currency translation	(2.2)	6.8
Balance at the end of the period	1,076.3	1,078.5
Mutual Fund [Member]
Changes in goodwill
Balance at the beginning of the period	939.5	785.0
Goodwill acquired	0.0	151.3
Foreign currency translation	(11.4)	3.2
Balance at the end of the period	928.1	939.5
High Net Worth [Member]
Changes in goodwill
Balance at the beginning of the period	337.2	260.9
Goodwill acquired	0.0	74.3
Foreign currency translation	0.1	2.0
Balance at the end of the period	$ 337.3	$ 337.2

Goodwill and Acquired Client Relationships - Schedule of changes in and the components of acquired client relationships (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Net Book Value
Total, Net book value balance at the beginning of the period	$ 1,585.5	$ 1,321.1
Total, New investments	0.0	452.6
Total, Amortization and Impairment	(128.2)	(200.0)
Total, Foreign currency translation	3.4	11.8
Total, Transfers and other	0.0	0.0
Total, Net book value balance at the end of the period	1,460.7	1,585.5
Acquired client relationships [Member]
Definite-lived
Gross book value balance at the beginning of the period	1,109.6	970.5
Accumulated amortization balance at the beginning of the period	(383.5)	(317.0)
Net book value balance at the beginning of the period	726.1	653.5
New Investments	0.0	131.1
Amortization and impairments	(128.2)	(97.8)
Foreign currency translation	(1.2)	1.1
Gross Book Value, Definite-lived, Transfers and other	(68.9)	6.9
Accumulated Amortization, Definite-lived, Transfers and other	68.9	31.3
Net Book Value, Definite-lived, Transfers and other	0.0	38.2
Gross book value balance at the end of the period	1,039.5	1,109.6
Accumulated amortization balance at the end of the period	(442.8)	(383.5)
Net book value balance at the end of the period	596.7	726.1
Indefinite-lived
Net book value balance at the beginning of the period	859.4	667.6
New investments	0.0	321.5
Amortization and Impairment	0.0	(102.2)
Foreign currency translation	4.6	10.7
Transfers and other	0.0	(38.2)
Net book value balance at the end of the period	$ 864.0	$ 859.4

Goodwill and Acquired Client Relationships - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Acquired client relationships [Member]
Goodwill [Line Items]
Impairment	$ 0.0	$ 102.2
Fair value	$ 864.0	859.4	$ 667.6
Weighted average life	10 years
Future annual amortization expense	$ 100.0
Number of future annual periods of amortization expense presented	5 years
Acquired Client Relationships Mutual Fund Management Contract [Member]
Goodwill [Line Items]
Impairment	$ 0.0	102.2
Fair value		$ 38.2
Weighted average annual growth rate		10.00%
Discount rate		15.00%

Equity Investments in Affiliates - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Schedule of Equity Method Investments
Amortization expense during the period	$ 128.2	$ 200.0	$ 97.7
Undistributed earnings from equity method investments	$ 197.6
Acquired client relationships under equity method investments
Schedule of Equity Method Investments
Weighted average life	11 years
Amortization expense during the period	$ 41.7	$ 36.9

Equity Investments in Affiliates - Schedule of annual amortization expense attributable to current equity method Affiliates for next five years (Details) $ in Millions	Dec. 31, 2013 USD ($)
Equity Method Investments and Joint Ventures [Abstract]
2014	$ 20.7
2015	12.4
2016	9.8
2017	9.8
2018	$ 9.8

Equity Investments in Affiliates - Schedule of financial information for Affiliates accounted for under the equity method (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Equity Method Investments and Joint Ventures [Abstract]

Revenue

^[1]

$ 1,589.6

$ 1,005.4

$ 581.0

Net income

1,321.9

783.3

$ 387.9

Current assets

^[2]

19,084.4

11,957.8

Noncurrent assets

55.3

34.7

Current liabilities

1,674.5

1,361.5

Noncurrent liabilities and Non-controlling interest

$ 16,089.0

$ 9,857.6

[1]	Revenue includes advisory fees for asset management services, investment income and dividends from consolidated investment partnerships.
[2]	The Company is not entitled to assets held by investors that are unrelated to the Company including consolidated investment partnerships.

Fixed Assets and Lease Commitments - Schedule of fixed assets (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Fixed assets
Fixed assets, at cost	$ 179.9	$ 169.4
Accumulated depreciation and amortization	(87.6)	(87.9)
Fixed assets, net	92.3	81.5
Building and leasehold improvements [Member]
Fixed assets
Fixed assets, at cost	78.5	74.7
Equipment [Member]
Fixed assets
Fixed assets, at cost	36.5	38.9
Furniture and fixtures [Member]
Fixed assets
Fixed assets, at cost	15.4	16.3
Land and improvements [Member]
Fixed assets
Fixed assets, at cost	18.9	18.1
Software [Member]
Fixed assets
Fixed assets, at cost	$ 30.6	$ 21.4

Fixed Assets and Lease Commitments - Schedule of aggregate future minimum payments for operating leases (Details) $ in Millions	Dec. 31, 2013 USD ($)
Fixed Assets and Lease Commitments [Abstract]
2014	$ 30.1
2015	29.2
2016	23.5
2017	21.4
2018	19.8
Thereafter	$ 69.5

Fixed Assets and Lease Commitments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Fixed Assets and Lease Commitments [Abstract]
Consolidated rent expense	$ 30.3	$ 30.5	$ 29.9

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Payables and Accruals [Abstract]
Accrued compensation	$ 187.9	$ 138.8
Unsettled fund share payables	84.6	39.8
Accrued income taxes	73.0	13.7
Accrued professional fees	33.4	28.7
Accrued interest	11.8	19.3
Accrued distributions	23.6	13.2
Accounts payable	23.5	59.5
Other	76.9	50.3
Accounts payable and accrued liabilities	$ 514.7	$ 363.3

Related Party Transactions (Details) - Affiliate partners [Member] - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Accounts Payable and Accrued Liabilities [Member]
Related Party Transactions
Payable to related parties	$ 23.6	$ 13.2
Other Assets [Member]
Related Party Transactions
Receivables from related parties	21.8	36.9
Other Liabilities [Member]
Related Party Transactions
Payable to related parties	$ 133.4	$ 133.6

Stockholders' Equity (Details) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Stockholders' equity
Common stock, shares authorized	153.0	153.0
Share repurchase activity
Shares Repurchase (in shares)	0.1	0.6	0.7
Preferred Stock [Member]
Stockholders' equity
Preferred stock, shares authorized	5.0
Common Stock [Member]
Stockholders' equity
Maximum number of shares yet to be repurchased	2.2
Share repurchase activity
Shares Repurchase (in shares)	0.1	0.6	0.7
Average Price (in dollars per share)	$ 184.89	$ 107.44	$ 83.63
Voting Common Stock [Member]
Stockholders' equity
Common stock, shares authorized	150.0
Class B Non-Voting Common Stock [Member]
Stockholders' equity
Common stock, shares authorized	3.0

Share-Based Compensation - Stock Options Narrative (Details) - Stock Option and Incentive Plan [Member] - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value	$ 1.0	$ 2.5	$ 16.8
Weighted average fair value of options granted (in dollars per share)	$ 61.82	$ 40.43	$ 30.27
Exercises in period total intrinsic value	$ 77.4	$ 86.8	$ 35.4
Intrinsic value of exercisable options	$ 341.9
Options available for future grant under the Company's option plans (in shares)	3.4
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Expiration term	7 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Expiration term	10 years

Share-Based Compensation - Schedule of transactions of the Company's stock options (Details) - Stock Option and Incentive Plan [Member] shares in Millions	12 Months Ended
	Dec. 31, 2013 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Stock Options, Unexercised options outstanding, Beginning balance \| shares	3.8
Weighted Average Exercise Price, Unexercised options outstanding, Beginning balance \| $ / shares	$ 74.04
Stock Options, Options granted \| shares	0.0
Weighted Average Exercise Price, Options granted \| $ / shares	$ 191.75
Stock Options, Options exercised \| shares	(0.8)
Weighted Average Exercise Price, Options exercised \| $ / shares	$ 62.59
Stock Options, Options forfeited \| shares	0.0
Weighted average Exercise Price, Options forfeited \| $ / shares	$ 81.49
Stock Options, Unexercised options outstanding, Ending balance \| shares	3.0
Weighted Average Exercise Price, Unexercised options outstanding, Ending balance \| $ / shares	$ 77.71
Weighted Average Remaining Contractual Life (years), Unexercised options outstanding, Ending balance	3 years 4 months 24 days
Stock Options, Exercisable, Ending balance \| shares	2.4
Weighted Average Exercise Price, Exercisable, Ending balance \| $ / shares	$ 73.56
Weighted Average Remaining Contractual Life (years), Exerciable, Ending balance	3 years 2 months 12 days

Share-Based Compensation - Schedule of assumptions used to determine fair value of options granted (Details) - Stock Option and Incentive Plan [Member]

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Assumptions used to determine fair value of options granted

Dividend yield

0.00%

Expected volatility

^[1]

34.40%

36.80%

33.10%

Risk-free interest rate

^[2]

1.50%

0.70%

1.30%

Expected life of options

^[3]

5 years

4 years 9 months 18 days

Forfeiture rate

^[3]

0.00%

1.40%

2.40%

[1]	Based on historical and implied volatility.
[2]	Based on the U.S. Treasury yield curve in effect at the date of grant.
[3]	Based on the Company's historical data and expected exercise behavior.

Share-Based Compensation - Restricted Stock Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized period for recognition		3 years
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award fair value	$ 53.5	$ 18.1	$ 3.3
Vesting period	6 years
Units granted	300,000
Market condition 1	15.00%
Market condition 2	25.00%
Market condition 3	35.00%
Expected volatility	31.60%
Risk-free interest rate	2.00%
Dividend yield	0.00%
Weighted average fair value (in dollars per share)	$ 144.70
Total compensation cost not yet recognized period for recognition	4 years
Options available for future grant under the Company's option plans (in shares)	1,800,000
Restricted stock \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Restricted stock \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	8 years
Restricted stock \| Vesting Period 1 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted	200,000.0
Restricted stock \| Vesting Period 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted	100,000.0

Share-Based Compensation - Summary of transactions of the Company's restricted stock (Details) - Restricted stock shares in Millions	12 Months Ended
	Dec. 31, 2013 $ / shares shares
Restricted Stock
Units outstanding at the beginning of the period \| shares	0.4
Units granted \| shares	0.3
Units vested \| shares	(0.2)
Units forfeitured \| shares	0.0
Units outstanding at the end of the period \| shares	0.5
Weighted Average Grant Date Value
Units outstanding at the beginning of the period (in dollars per share) \| $ / shares	$ 84.53
Units granted (in dollars per share) \| $ / shares	208.76
Units vested (in dollars per share) \| $ / shares	50.46
Units forfeitured (in dollars per share) \| $ / shares	94.83
Units outstanding at the end of the period (in dollars per share) \| $ / shares	$ 176.38

Share-Based Compensation - Share-Based Incentive Compensation Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized	$ 79.3	$ 53.5
Total compensation cost not yet recognized period for recognition		3 years
Stock Option and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from exercise of stock options	48.2	$ 73.4
Tax benefit realized from exercise of stock options	20.7	25.5
Excess tax benefit from exercise of stock options	$ 17.3	$ 22.0

Share-Based Compensation - Summary of recent share based compensation expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation Expense	$ 27.5	$ 25.4	$ 21.2
Tax Benefit	$ 10.6	$ 9.6	$ 8.1

Affiliate Equity Summary of affiliate equity compensation expense (Details) - Affiliated Entity [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Affiliate Equity [Line Items]
Tax Benefit	$ 21.7	$ 17.0	$ 12.0
Affiliate Equity Compensation Expense	$ 72.3	$ 60.4	$ 38.1

Affiliate Equity (Details) - USD ($) $ in Millions	12 Months Ended
Affiliate Equity (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Affiliate Equity
Affiliate equity compensation expense attributable to noncontrolling interest	$ 15.9	$ 16.3	$ 6.8
Compensation expenses related to Affiliate equity	68.2	85.3
Compensation expenses related to Affiliate equity, attributable to controlling interest	$ 32.1	$ 33.0
Weighted average period of recognition	4 years

Affiliate Equity - Schedule of the changes in redeemable non-controlling interests (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Changes in redeemable non-controlling interests during the period
Beginning balance	$ 477.5	$ 451.8
Transactions in Redeemable non-controlling interests	(52.5)	(17.2)
Changes in redemption value	216.9	42.9
Ending balance	$ 641.9	$ 477.5

Afilliate Equity - Schedule of the effect of changes in the entity's ownership interest in its affiliates on the controlling interest's equity (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Affiliate Equity [Abstract]
Net income (controlling interest)	$ 158.2	$ 75.2	$ 64.7	$ 62.4	$ 75.0	$ 54.9	$ 6.6	$ 37.5	$ 360.5	$ 174.0	$ 164.9
Increase (decrease) in controlling interest paid-in capital from the sale of Affiliate equity									(74.0)	(44.0)	(28.1)
Change from Net income (controlling interest) and net transfers with non-controlling interests									$ 286.5	$ 130.0	$ 136.8

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

Provision for income taxes

Benefit Plans (Details) $ in Millions	12 Months Ended
Benefit Plans (Details) $ in Millions	Dec. 31, 2013 USD ($) plan	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)
Compensation and Retirement Disclosure [Abstract]
Number of defined contribution plans \| plan	3
Consolidated expenses related to benefit plans \| $	$ 14.1	$ 12.7	$ 12.0

Income Taxes - Schedule of income tax provision attributable to controlling interests and to non-controlling interests (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Income tax provision

Current tax

$ 166.4

$ 72.7

$ 57.9

Deferred taxes

27.7

11.1

35.2

194.1

83.8

93.1

Controlling Interests [Member]

Income tax provision

Current tax

153.1

61.0

45.0

Intangible related deferred taxes

38.1

22.7

43.2

Other deferred taxes

(6.2)

(12.1)

(4.0)

Provision for income taxes

185.0

71.6

84.2

Income before income taxes (controlling interest)

$ 545.5

$ 245.6

$ 249.1

Effective tax rate attributable to controlling interests

^[1]

33.90%

29.20%

33.80%

Non-controlling interests [Member]

Income tax provision

Current tax

$ 13.3

$ 11.7

$ 12.9

Deferred taxes

(4.2)

0.5

(4.0)

Provision for income taxes

$ 9.1

$ 12.2

$ 8.9

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

Income Taxes - Schedule of consolidated provision for income taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Current:
Federal	$ 104.1	$ 14.5	$ 6.2
State	21.1	14.2	11.2
Foreign	41.2	44.0	40.5
Total current	166.4	72.7	57.9
Deferred:
Federal	38.1	19.8	46.8
State	8.9	4.6	5.0
Foreign	(19.3)	(13.3)	(16.6)
Total deferred	27.7	11.1	35.2
Provision for income taxes	$ 194.1	$ 83.8	$ 93.1

Income Taxes - Schedule of components before income taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Domestic	$ 604.0	$ 238.6	$ 243.8
International	259.7	256.6	208.9
Total	$ 863.7	$ 495.2	$ 452.7

Income Taxes - Schedule of effective tax rate reconciliation (Details)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Tax at U.S. federal income tax rate	35.00%	35.00%	35.00%
State income taxes, net of federal benefit	2.80%	3.50%	1.40%
Non-deductible expenses	0.30%	0.70%	0.50%
Valuation allowance	(0.30%)	(4.70%)	(0.10%)
Effect of foreign operations	(2.30%)	(2.90%)	0.00%
Foreign basis differences	(0.20%)	(0.40%)	(0.90%)
Effect of changes in tax law, rates	(1.40%)	(2.00%)	(2.10%)
Effect of income from non-controlling interests	(11.40%)	(12.20%)	(13.20%)
Total effective income tax rate	22.50%	17.00%	20.60%

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Reduction in valuation allowance due to foreign tax credit carryforwards	$ (1.6)	$ (11.5)
Deferred tax benefit due to re-valuation of deferred taxes from a change in enacted tax rates in the United Kingdom	$ 11.2	$ 7.3	$ 7.6
Effect of changes in tax law, rates	1.40%	2.00%	2.10%
Temporary difference due to repatriation of assets from a sale or liquidation of the subsidiary	$ 47.7
Amount of deferred taxes not recognized	$ 17.9
State net operating loss carryforwards, expiration period	15 years
Foreign tax credit carryforwards, expiration period	5 years
Liability for uncertain tax positions including interest and related charges	$ 20.4	$ 22.6	$ 21.2
Accrued income tax interest and related charges	1.7	2.2	1.6
Unrecognized tax benefits that, if recognized, would affect effective tax rate	17.2	19.4	12.6
Reductions for prior years' tax provisions	0.1	5.4	0.0
Additions based on prior years' tax positions	$ 0.0	$ 5.2	$ 0.0

Income Taxes - Schedule of componenets of deferred tax assets and liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Deferred Tax Assets
State net operating loss carryforwards	$ 29.3	$ 23.9
Deferred compensation	29.1	23.9
Foreign tax credit carryforwards	0.0	20.1
Tax benefit of uncertain tax positions	16.2	17.6
Accrued expenses	17.6	6.0
Foreign loss carryforwards	9.1	1.5
Total deferred tax assets	101.3	93.0
Valuation allowance	(36.6)	(21.3)
Deferred tax assets, net of valuation allowance	64.7	71.7
Deferred Tax Liabilities
Intangible asset amortization	(241.3)	(238.2)
Convertible securities interest	(144.7)	(189.2)
Non-deductible intangible amortization	(101.5)	(120.1)
Deferred revenue	(32.1)	(18.5)
Other	(2.0)	(2.8)
Total deferred tax liabilities	(521.6)	(568.8)
Net deferred tax liability	$ (456.9)	$ (497.1)

Income Taxes - Schedule of reconciliation of beginning and ending amount of unrecognized tax benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Reconciliation of beginning and ending amount of unrecognized tax benefits
Beginning balance	$ 22.6	$ 21.2	$ 24.6
Additions based on current year tax positions	4.1	5.9	4.8
Additions based on prior years' tax positions	0.0	5.2	0.0
Reductions for prior years' tax provisions	(0.1)	(5.4)	0.0
Settlements	0.0	0.0	(1.2)
Reductions related to lapses of statutes of limitations	(5.4)	(4.6)	(6.7)
Additions (reductions) related to foreign exchange rates	(0.8)	0.3	(0.3)
Ending balance	$ 20.4	$ 22.6	$ 21.2

Earnings Per Share - Schedule of reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Numerator
Net income (controlling interest)	$ 158.2	$ 75.2	$ 64.7	$ 62.4	$ 75.0	$ 54.9	$ 6.6	$ 37.5	$ 360.5	$ 174.0	$ 164.9
Interest expense on convertible securities, net of taxes									10.5	0.0	0.0
Net income (controlling interest), as adjusted									$ 371.0	$ 174.0	$ 164.9
Denominator
Average shares outstanding - basic (in shares)									53.1	51.7	51.8
Effect of dilutive instruments:
Stock options and other awards (in shares)									1.3	1.3	1.2
Forward sale (in shares)									0.3	0.0	0.0
Junior convertible securities (in shares)									2.0	0.0	0.0
Average shares outstanding - diluted (in shares)									56.7	53.0	53.0

Earnings Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Earnings Per Share [Abstract]
Shares Repurchase (in shares)	0.1	0.6	0.7

Earnings Per Share - Diluted earnings per share calculations excluding the anti-dilutive effect of shares (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Stock options and other awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.1	0.7	1.2
Senior convertible securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2.1	3.6	3.6
Junior convertible trust preferred securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2.2	4.2	4.2
Forward equity sales [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.0	0.2	0.0

Comprehensive Income - Summary of the tax effects allocated to each component of other comprehensive income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Other Comprehensive Income (Loss), Pre-Tax
Foreign currency translation adjustment, Pre-Tax	$ (19.6)	$ 18.5	$ (10.2)
Change in net realized and unrealized gain (loss) on derivative securities, Pre-Tax	1.5	(1.1)	(9.7)
Change in net unrealized gain (loss) on investment securities, Pre-Tax	19.5	21.6	(56.6)
Other comprehensive income (loss), Pre-Tax	1.4	39.0	(76.5)
Other Comprehensive Income (Loss), Tax Expenses
Change in net realized and unrealized gain (loss) on derivative securities, Tax Benefit (Expense)	(0.5)	0.4	3.8
Change in net unrealized gain (loss) on investment securities, Tax Benefit (Expense)	(8.0)	(8.1)	22.2
Other comprehensive income (loss), Tax Benefit (Expense)	(8.5)	(7.7)	26.0
Other Comprehensive Income (Loss), Net of Tax
Foreign currency translation adjustment, Net of Tax	(19.6)	18.5	(10.2)
Change in net realized and unrealized gain (loss) on derivative securities, net of tax	1.0	(0.7)	(5.9)
Change in net unrealized gain (loss) on investment securities, Net of Tax	11.5	13.5	(34.4)
Other comprehensive income (loss), Net of Tax	$ (7.1)	$ 31.3	$ (50.5)

Comprehensive Income - Schedule of components of accumulated other comprehensive income, net of taxes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($)
Accumulated Other Comprehensive Income (Loss) Net of Tax [Roll Forward]
Beginning balance	$ 81.3
Other comprehensive income before reclassifications	(5.3)
Amounts reclassified from other comprehensive income	(1.8)
Net other comprehensive income	(7.1)
Ending balance	74.2
Foreign Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) Net of Tax [Roll Forward]
Beginning balance	76.2
Other comprehensive income before reclassifications	(19.6)
Amounts reclassified from other comprehensive income	0.0
Net other comprehensive income	(19.6)
Ending balance	56.6
Realized and Unrealized Losses on Derivative Securities [Member]
Accumulated Other Comprehensive Income (Loss) Net of Tax [Roll Forward]
Beginning balance	(2.9)
Other comprehensive income before reclassifications	1.0
Amounts reclassified from other comprehensive income	0.0
Net other comprehensive income	1.0
Ending balance	(1.9)
Unrealized Gain (Loss) on Investment Securities [Member]
Accumulated Other Comprehensive Income (Loss) Net of Tax [Roll Forward]
Beginning balance	8.0
Other comprehensive income before reclassifications	13.3
Amounts reclassified from other comprehensive income	(1.8)
Net other comprehensive income	11.5
Ending balance	$ 19.5

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.

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 594.0	$ 551.6	$ 541.0	$ 502.2	$ 491.0	$ 467.3	$ 429.6	$ 417.6	$ 2,188.8	$ 1,805.5	$ 1,704.8
Operating income	153.1	169.1	161.4	150.5	126.9	139.7	25.0	108.8	634.1	400.4	486.1
Income before income taxes	336.6	187.4	172.4	167.3	177.1	137.5	62.9	117.7	863.7	495.2	452.7
Net income (controlling interest)	$ 158.2	$ 75.2	$ 64.7	$ 62.4	$ 75.0	$ 54.9	$ 6.6	$ 37.5	$ 360.5	$ 174.0	$ 164.9
Earnings per share - diluted (in dollars per share)	$ 2.79	$ 1.37	$ 1.18	$ 1.15	$ 1.40	$ 1.04	$ 0.12	$ 0.71	$ 6.55	$ 3.28	$ 3.11

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.