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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flow from (used in) operating activities:    
Net income $ 614.9 $ 533.0
Adjustments to reconcile Net income to net Cash flow from operating activities:    
Intangible amortization and impairments 65.1 82.2
Depreciation and other amortization 14.9 15.0
Deferred income tax provision 80.3 69.8
Income from equity method investments, net of amortization (231.6) (200.7)
Distributions of earnings received from equity method investments 368.0 287.0
Amortization of issuance costs 3.3 3.6
Share-based compensation and Affiliate equity expense 68.6 65.6
Other non-cash items (30.7) (14.3)
Changes in assets and liabilities:    
Purchases of trading securities by Affiliate sponsored consolidated products (24.1) (62.5)
Sales of trading securities by Affiliate sponsored consolidated products 23.2 59.1
(Increase) decrease in receivables (131.7) 37.7
Increase in other assets (3.6) (3.9)
Decrease in payables, accrued liabilities and other liabilities (16.1) (187.1)
Cash flow from operating activities 800.5 684.5
Cash flow from (used in) investing activities:    
Investments in Affiliates (30.3) (884.9)
Purchase of fixed assets (13.9) (15.1)
Purchase of investment securities (22.2) (10.2)
Sale of investment securities 71.3 41.5
Cash flow from (used in) investing activities 4.9 (868.7)
Cash flow from (used in) financing activities:    
Borrowings of senior debt 445.0 900.0
Repayments of senior debt (645.0) (670.0)
Issuance of common stock 33.7 163.2
Dividends paid on common stock (33.8) 0.0
Repurchase of common stock (276.4) (33.4)
Distributions to non-controlling interests (266.8) (270.1)
Affiliate equity issuances and repurchases (112.5) (70.3)
Settlement of forward equity sale agreement 5.2 0.0
Other financing items (20.9) 17.2
Cash flow from (used in) financing activities (871.5) 36.6
Effect of foreign exchange rate changes on cash and cash equivalents 10.0 (19.7)
Net decrease in cash and cash equivalents (56.1) (167.3)
Cash and cash equivalents at beginning of period 430.8 563.8
Net cash inflows upon the consolidation and deconsolidation of Affiliate sponsored products 0.0 25.5
Cash and cash equivalents at end of period $ 374.7 $ 422.0