v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net income $ 116.0 $ 140.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8.5 5.1
Deferred income taxes 0.0 1.3
Stock-based compensation plan expense 18.7 17.5
Reclassification of foreign currency translation to net income 0.4 (22.0)
Investment losses (gains), net 5.5 (22.5)
Other, net (4.2) (2.5)
Changes in operating assets and liabilities:    
OEIC and unit trust receivables and payables (6.1) 4.5
Other assets 87.2 46.5
Other accruals and liabilities (223.2) (173.5)
Net operating activities 2.8 (5.0)
Investing activities:    
Investments, net (44.8) (9.9)
Property, equipment and software (1.9) (1.8)
Investments by consolidated seeded investment products, net (181.7) (38.1)
Cash received (paid) on settled seed capital hedges, net 2.6 (5.2)
Acquisitions, net of cash acquired (2.4) 0.0
Other, net 0.9 0.7
Net investing activities (227.3) (54.3)
Financing activities:    
Purchase of common stock for stock-based compensation plans (2.6) (69.9)
Purchase of common stock for the share buyback program (26.8) (81.3)
Dividends paid to shareholders (61.5) (63.2)
Third-party capital invested into consolidated seeded investment products, net 170.6 35.2
Other, net (0.1) 0.0
Net financing activities 79.6 (179.2)
Cash and cash equivalents:    
Effect of foreign exchange rate changes 15.8 (7.3)
Net change (129.1) (245.8)
At beginning of period 1,234.8 1,168.1
At end of period 1,105.7 922.3
Supplemental cash flow information:    
Cash paid for interest 10.9 7.3
Cash paid for income taxes, net of refunds 3.5 6.2
Reconciliation of cash and cash equivalents:    
Total cash and cash equivalents 1,105.7 922.3
Consolidated Entity, Excluding VIE [Member]    
Reconciliation of cash and cash equivalents:    
Total cash and cash equivalents 1,083.6 904.7
Variable Interest Entity, Primary Beneficiary [Member]    
Reconciliation of cash and cash equivalents:    
Total cash and cash equivalents $ 22.1 $ 17.6