v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net income $ 300.4 $ 274.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17.0 10.4
Deferred income taxes 0.6 (0.2)
Stock-based compensation plan expense 36.9 33.2
Reclassification of foreign currency translation to net income 0.0 (16.5)
Investment gains, net (47.1) (28.9)
Other, net (9.2) (4.5)
Changes in operating assets and liabilities:    
OEIC and unit trust receivables and payables (8.0) 2.9
Other assets 59.0 70.5
Other accruals and liabilities (211.6) (122.2)
Net operating activities 138.0 218.8
Investing activities:    
Investments, net (166.4) (42.2)
Property, equipment and software (3.9) (3.7)
Investments by consolidated seeded investment products, net (307.7) (64.1)
Cash paid on settled seed capital hedges, net (31.7) (5.4)
Acquisitions, net of cash acquired (4.2) 0.0
Other, net (4.2) 0.7
Net investing activities (518.1) (114.7)
Financing activities:    
Purchase of common stock for stock-based compensation plans (96.4) (80.4)
Purchase of common stock for the share buyback program (76.3) (115.4)
Dividends paid to shareholders (125.3) (125.8)
Third-party capital invested into consolidated seeded investment products, net 305.3 91.3
Other, net 4.6 0.2
Net financing activities 11.9 (230.1)
Cash and cash equivalents:    
Effect of foreign exchange rate changes 45.2 (7.3)
Net change (323.0) (133.3)
At beginning of period 1,234.8 1,168.1
At end of period 911.8 1,034.8
Supplemental cash flow information:    
Cash paid for interest 10.9 7.3
Cash paid for income taxes, net of refunds 91.5 55.9
Reconciliation of cash and cash equivalents:    
Total cash and cash equivalents 911.8 1,034.8
Consolidated Entity, Excluding VIE [Member]    
Reconciliation of cash and cash equivalents:    
Total cash and cash equivalents 882.6 1,013.9
Variable Interest Entity, Primary Beneficiary [Member]    
Reconciliation of cash and cash equivalents:    
Total cash and cash equivalents $ 29.2 $ 20.9