UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
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Sep. 30, 2013
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Sep. 30, 2012
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Sep. 30, 2013
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Sep. 30, 2012
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Revenues | ||||
Investment advisory fees | $ 768.3 | $ 661.4 | $ 2,210.9 | $ 1,914.4 |
Administrative fees | 85.4 | 83.4 | 258.1 | 249.0 |
Distribution and servicing fees | 30.5 | 24.4 | 84.8 | 70.3 |
Net revenue of savings bank subsidiary | 0.2 | 0.5 | 0.6 | 1.5 |
Net revenues | 884.4 | 769.7 | 2,554.4 | 2,235.2 |
Operating expenses | ||||
Compensation and related costs | 291.3 | 263.8 | 858.7 | 786.0 |
Advertising and promotion | 15.4 | 17.5 | 59.9 | 63.1 |
Distribution and servicing costs | 30.5 | 24.4 | 84.8 | 70.3 |
Depreciation and amortization of property and equipment | 22.1 | 20.6 | 65.5 | 59.6 |
Occupancy and facility costs | 32.9 | 31.0 | 101.0 | 92.5 |
Other operating expenses | 66.3 | 53.5 | 187.2 | 160.6 |
Total operating expenses | 458.5 | 410.8 | 1,357.1 | 1,232.1 |
Net operating income | 425.9 | 358.9 | 1,197.3 | 1,003.1 |
Non-operating investment income | 11.6 | 41.4 | 31.3 | 53.9 |
Income before income taxes | 437.5 | 400.3 | 1,228.6 | 1,057.0 |
Provision for income taxes | 167.2 | 153.0 | 468.6 | 405.4 |
Net income | $ 270.3 | $ 247.3 | $ 760.0 | $ 651.6 |
Earnings per share on common stock | ||||
Basic (in dollars per share) | $ 1.03 | $ 0.97 | $ 2.92 | $ 2.56 |
Diluted (in dollars per share) | $ 1.00 | $ 0.94 | $ 2.83 | $ 2.48 |
Dividends declared per share (in dollars per share) | $ 0.38 | $ 0.34 | $ 1.14 | $ 1.02 |
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- Definition
A positive value represents costs paid to financial intermediaries that source assets into the Advisor, R, and VIP II share classes of sponsored mutual funds. No definition available.
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- Definition
A positive value represents the amount of net occupancy expense including maintenance of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. No definition available.
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- Definition
Amount of revenue from providing administrative services, including, but not limited to, accounting, tax, legal, regulatory filing, and share registration activities of managed funds and investment accounts of independent third parties and related and affiliated entities. No definition available.
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of fees from providing distribution services, including but not limited to, marketing and selling fund shares, advertising, printing and mailing of prospectuses and sales literature to investors. No definition available.
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- Details
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of fees earned from providing investment advice and research to customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income from investments (for example, dividends) not considered a component of the entity's core operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
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
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). No definition available.
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