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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income $ 919.8 $ 913.7
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization of property and equipment 94.4 83.4
Stock-based compensation expense 107.4 95.9
Realized gains on dispositions of sponsored funds (48.9) (44.6)
Net (gains) losses recognized on other investments 4.3 (9.0)
Net change in trading securities held by consolidated sponsored investment portfolios (10.0) (90.1)
Other changes in assets and liabilities 304.5 266.8
Net cash provided by operating activities 1,371.5 1,216.1
Cash flows from investing activities    
Investments in sponsored funds (155.3) (445.8)
Dispositions of sponsored funds 227.7 123.8
Additions to property and equipment (114.6) (82.6)
Other investing activity (6.4) (11.1)
Net cash used in investing activities (48.6) (415.7)
Cash flows from financing activities    
Repurchases of common stock (820.7) (283.7)
Common share issuances under stock-based compensation plans 61.2 52.6
Excess tax benefits from stock-based compensation plans 22.1 24.4
Dividends paid (927.2) (347.2)
Net cash used in financing activities (1,664.6) (553.9)
Cash and cash equivalents    
Net change during period (341.7) 246.5
At beginning of year 1,506.1 1,398.0
At end of period $ 1,164.4 $ 1,644.5