10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x Quarterly Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

For the quarterly period ended July 31, 2013

or

¨ Transition Report Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934

For the transition period from _____________ to ____________

Commission file no. 1-8100

EATON VANCE CORP.

(Exact name of registrant as specified in its charter)

Maryland	04-2718215
(State or other jurisdiction of	(I.R.S. Employer Identification No.)
incorporation or organization)

Two International Place, Boston, Massachusetts 02110

(Address of principal executive offices) (zip code)

(617) 482-8260

(Registrant's telephone number, including area code)

Indicate by check-mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	¨ (Do not check if smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

Shares outstanding as of July 31, 2013:

Voting Common Stock – 399,240 shares

Non-Voting Common Stock – 120,938,397 shares

Eaton Vance Corp.

Form 10-Q

As of July 31, 2013 and for the

Three and Nine Month Periods Ended July 31, 2013

Table of Contents

Required Information		Page Number Reference
Part I	Financial Information
Item 1.	Consolidated Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	40
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	68
Item 4.	Controls and Procedures	68
Part II	Other Information
Item 1.	Legal Proceedings	69
Item 1A.	Risk Factors	69
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	72
Item 6.	Exhibits	73
Signatures		74

2

Part I - Financial Information

Item 1. Consolidated Financial Statements

Eaton Vance Corp.

Consolidated Balance Sheets (unaudited)

	July 31,		October 31,
(in thousands)	2013		2012
Assets
Cash and cash equivalents	$	379,414	$	462,076
Investment advisory fees and other receivables		161,237		133,589
Investments		545,474		486,933
Assets of consolidated collateralized loan obligation ("CLO") entity:
Cash and cash equivalents		58,300		36,758
Bank loans and other investments		245,991		430,583
Other assets		2,237		1,107
Deferred sales commissions		18,859		19,336
Deferred income taxes		57,422		51,234
Equipment and leasehold improvements, net		49,713		54,889
Intangible assets, net		76,892		59,228
Goodwill		228,876		154,636
Other assets		85,942		89,122
Total assets	$	1,910,357	$	1,979,491

See notes to Consolidated Financial Statements.

3

Eaton Vance Corp.
Consolidated Balance Sheets (unaudited) (continued)
	July 31,			October 31,
(in thousands, except share data)	2013			2012
Liabilities, Temporary Equity and Permanent Equity
Liabilities:
Accrued compensation	$	133,686		$	145,338
Accounts payable and accrued expenses		58,645			59,397
Dividend payable		24,273			23,250
Debt		573,460			500,000
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations		291,175			446,605
Other liabilities		421			766
Other liabilities		77,411			91,785
Total liabilities		1,159,071			1,267,141
Commitments and contingencies
Temporary Equity:
Redeemable non-controlling interests		97,051			98,765
Permanent Equity:
Voting Common Stock, par value $0.00390625 per share:
Authorized, 1,280,000 shares
Issued and outstanding,399,240 and 413,167 shares, respectively		2			2
Non-Voting Common Stock, par value $0.00390625 per share:
Authorized, 190,720,000 shares
Issued and outstanding, 120,938,397 and 115,878,384 shares, respectively		472			453
Additional paid-in capital		134,464			26,730
Notes receivable from stock option exercises		(6,861	)		(4,155	)
Accumulated other comprehensive income		686			3,923
Appropriated retained earnings		13,107			18,699
Retained earnings		511,034			566,420
Total Eaton Vance Corp. shareholders' equity		652,904			612,072
Non-redeemable non-controlling interests		1,331			1,513
Total permanent equity		654,235			613,585
Total liabilities, temporary equity and permanent equity	$	1,910,357		$	1,979,491

See notes to Consolidated Financial Statements.

4

Eaton Vance Corp.
Consolidated Statements of Income (unaudited)
	Three Months Ended						Nine Months Ended
	July 31,						July 31,
(in thousands, except per share data)	2013			2012			2013			2012
Revenue:
Investment advisory and administrative fees	$	293,589		$	244,655		$	833,791		$	732,995
Distribution and underwriter fees		22,681			22,066			67,597			67,132
Service fees		32,259			30,760			94,521			95,124
Other revenue		1,832			1,290			4,661			3,896
Total revenue		350,361			298,771			1,000,570			899,147
Expenses:
Compensation and related costs		115,379			94,700			334,220			288,949
Distribution expense		35,452			32,670			104,645			97,958
Service fee expense		29,013			28,165			86,488			84,926
Amortization of deferred sales commissions		4,983			4,593			14,518			15,946
Fund-related expenses		8,230			7,205			23,728			20,446
Other expenses		38,454			36,422			109,371			104,275
Total expenses		231,511			203,755			672,970			612,500
Operating income		118,850			95,016			327,600			286,647
Non-operating income (expense):
(Losses) gains and other investment income, net		(8,027	)		1,927			2,223			12,900
Interest expense		(9,167	)		(8,525	)		(26,309	)		(25,350	)
Loss on extinguishment of debt		(52,886	)		-			(52,886	)		-
Other income (expense) of consolidated
CLO entity:
Gains and other investment income, net		1,704			12,872			7,881			32,047
Interest expense		(2,939	)		(4,399	)		(10,211	)		(12,844	)
Total non-operating (expense) income		(71,315	)		1,875			(79,302	)		6,753
Income before income taxes and equity in net income of affiliates		47,535			96,891			248,298			293,400
Income taxes		(25,137	)		(34,379	)		(99,270	)		(104,730	)
Equity in net income of affiliates, net of tax		2,652			175			9,269			1,657
Net income		25,050			62,687			158,297			190,327
Net income attributable to non-controlling and other beneficial interests		(1,847	)		(12,481	)		(21,608	)		(39,980	)
Net income attributable to Eaton Vance Corp. shareholders	$	23,203		$	50,206		$	136,689		$	150,347
Earnings per share:
Basic	$	0.19		$	0.44		$	1.12		$	1.30
Diluted	$	0.18		$	0.43		$	1.07		$	1.27
Weighted average shares outstanding:
Basic		117,594			112,110			116,399			112,354
Diluted		123,872			114,591			122,155			115,031
Dividends declared per share	$	0.20		$	0.19		$	1.60		$	0.57

See notes to Consolidated Financial Statements.

5

Eaton Vance Corp.

Consolidated Statements of Comprehensive Income (unaudited)

	Three Months						Nine Months
	Ended						Ended
	July 31,						July 31,
(in thousands)	2013			2012			2013			2012
Net income	$	25,050		$	62,687		$	158,297		$	190,327
Other comprehensive income (loss):
Change in unrealized gains on derivative instruments, net of income taxes of $788, $0, $788 and $0, respectively		1,227			-			1,227			-
Amortization of net (gains) losses on derivatives, net of income taxes of $320, $39, $399 and $118, respectively		698			73			842			217
Unrealized holding gains (losses) on available-for-sale investments, net of income taxes of $(229), $95, $874 and $(932), respectively		370			(156	)		(1,426	)		1,526
Foreign currency translation adjustments, net of income taxes of $1,760, $233, $2,386 and $252, respectively		(2,860	)		(384	)		(3,880	)		(453	)
Other comprehensive (loss) income, net of tax		(565	)		(467	)		(3,237	)		1,290
Total comprehensive income		24,485			62,220			155,060			191,617
Comprehensive income attributable to non-controlling and other beneficial interests		(1,847	)		(12,481	)		(21,608	)		(39,980	)
Total comprehensive income attributable to Eaton Vance Corp. shareholders	$	22,638		$	49,739		$	133,452		$	151,637

See notes to Consolidated Financial Statements.

6

Eaton Vance Corp.

Consolidated Statements of Shareholders' Equity (unaudited)

	Permanent Equity																										Temporary Equity
(in thousands)	Voting Common Stock		Non-Voting Common Stock			Additional Paid-In Capital			Notes Receivable from Stock Option Exercises			Accumulated Other Comprehensive Income			Appropriated Retained Earnings			Retained Earnings			Non- Redeemable Non- Controlling Interests			Total Permanent Equity			Redeemable Non- Controlling Interests
Balance, November 1, 2012	$	2	$	453		$	26,730		$	(4,155	)	$	3,923		$	18,699		$	566,420		$	1,513		$	613,585		$	98,765
Net income		-		-			-			-			-			(5,592	)		136,689			3,964			135,061			23,236
Other comprehensive loss		-		-			-			-			(3,237	)		-			-			-			(3,237	)		-
Dividends declared		-		-			-			-			-			-			(192,075	)		-			(192,075	)		-
Issuance of Non-Voting Common Stock:
On exercise of stock options		-		18			98,968			(4,734	)		-			-			-			-			94,252			-
Under employee stock purchase plan		-		1			3,516			-			-			-			-			-			3,517			-
Under employee incentive plan		-		-			2,079			-			-			-			-			-			2,079			-
Under restricted stock plan, net of forfeitures		-		5			-			-			-			-			-			-			5			-
Stock-based compensation		-		-			40,446			-			-			-			-			-			40,446			-
Tax benefit of stock option exercises		-		-			15,682			-			-			-			-			-			15,682			-
Repurchase of Voting Common Stock		-		-			(73	)		-			-			-			-			-			(73	)		-
Repurchase of Non-Voting Common Stock		-		(5	)		(48,157	)		-			-			-			-			-			(48,162	)		-
Principal repayments on notes receivable from stock option exercises		-		-			-			2,028			-			-			-			-			2,028			-
Net subscriptions (redemptions/distributions) of non-controlling interest holders		-		-			-			-			-			-			-			(3,922	)		(3,922	)		63,796
Deconsolidation		-		-			-			-			-			-			-			-			-			(61,023	)
Reclass to temporary equity		-		-			-			-			-			-			-			(224	)		(224	)		224
Purchase of non-controlling interests		-		-			-			-			-			-			-			-			-			(46,601	)
Issuance of subsidiary equity		-		-			-			-			-			-			-			-			-			13,927
Other changes in non-controlling interests		-		-			(4,727	)		-			-			-			-			-			(4,727	)		4,727
Balance, July 31, 2013	$	2	$	472		$	134,464		$	(6,861	)	$	686		$	13,107		$	511,034		$	1,331		$	654,235		$	97,051

See notes to Consolidated Financial Statements.

7

Eaton Vance Corp.

Consolidated Statements of Shareholders' Equity (unaudited) (continued)

	Permanent Equity																									Temporary Equity
(in thousands)	Voting Common Stock		Non-Voting Common Stock			Additional Paid-In Capital			Notes Receivable from Stock Option Exercises			Accumulated Other Comprehensive Income		Appropriated Retained (Deficit) Earnings			Retained Earnings			Non- Redeemable Non- Controlling Interests			Total Permanent Equity			Redeemable Non- Controlling Interests
Balance, November 1, 2011	$	2	$	450		$	-		$	(4,441	)	$	1,340	$	(3,867	)	$	466,931		$	889		$	461,304		$	100,824
Net income		-		-			-			-			-		16,352			150,347			2,747			169,446			20,881
Other comprehensive income		-		-			-			-			1,290		-			-			-			1,290			-
Dividends declared		-		-			-			-			-		-			(65,867	)		-			(65,867	)		-
Issuance of Voting Common Stock		-		-			56			-			-		-			-			-			56			-
Issuance of Non-Voting Common Stock:
On exercise of stock options		-		4			17,328			(211	)		-		-			-			-			17,121			-
Under employee stock purchase plan		-		1			3,653			-			-		-			-			-			3,654			-
Under employee incentive plan		-		-			2,068			-			-		-			-			-			2,068			-
Under restricted stock plan,  net of forfeitures		-		5			-			-			-		-			-			-			5			-
Stock-based compensation		-		-			42,819			-			-		-			-			-			42,819			-
Tax benefit of stock option exercises		-		-			2,228			-			-		-			-			-			2,228			-
Repurchase of Non-Voting Common Stock		-		(12	)		(65,210	)		-			-		-			(11,364	)		-			(76,586	)		-
Principal repayments on notes receivable from stock option exercises		-		-			-			764			-		-			-			-			764			-
Net subscriptions (redemptions/distributions) of non-controlling interest holders		-		-			-			-			-		-			-			(2,613	)		(2,613	)		29,751
Deconsolidation		-		-			-			-			-		-			-			-			-			(21,586	)
Reclass to temporary equity		-		-			-			-			-		-			-			(132	)		(132	)		132
Purchase of non-controlling interests		-		-			-			-			-		-			-			-			-			(19,864	)
Other changes in non-controlling interests		-		-			(2,942	)		-			-		-			-			-			(2,942	)		2,942
Balance, July 31, 2012	$	2	$	448		$	-		$	(3,888	)	$	2,630	$	12,485		$	540,047		$	891		$	552,615		$	113,080

See notes to Consolidated Financial Statements.

8

Eaton Vance Corp.

Consolidated Statements of Cash Flows (unaudited)

	Nine Months Ended
	July 31,
(in thousands)	2013			2012
Cash Flows From Operating Activities:
Net income	$	158,297		$	190,327
Adjustments to reconcile net income to net cash (used for) provided by operating activities:
Depreciation and amortization		19,673			19,007
Unamortized gain on derivative instrument		2,015			-
Amortization of deferred sales commissions		14,575			15,973
Stock-based compensation		40,446			42,819
Deferred income taxes		(4,117	)		(7,315	)
Net gains on investments and derivatives		(399	)		(7,786	)
Equity in net income of affiliates, net of amortization		(10,834	)		(2,642	)
Dividends received from affiliates		13,218			11,117
Loss on extinguishment of debt		52,886			-
Consolidated CLO entity operating activities:
Net losses (gains) on bank loans, other investments and note obligations		4,197			(15,366	)
Amortization of investments		(584	)		(790	)
Net decrease in other assets and liabilities, including cash		(23,119	)		(19,655	)
Changes in operating assets and liabilities:
Investment advisory fees and other receivables		(21,852	)		3,469
Investments in trading securities		(194,121	)		(72,400	)
Deferred sales commissions		(14,098	)		(8,462	)
Other assets		28,424			(169	)
Accrued compensation		(13,547	)		(27,307	)
Accounts payable and accrued expenses		(4,587	)		6,027
Other liabilities		(46,702	)		17,941
Net cash (used for) provided by operating activities		(229	)		144,788
Cash Flows From Investing Activities:
Additions to equipment and leasehold improvements		(4,220	)		(2,928	)
Net cash paid in acquisition		(86,429	)		(12,334	)
Cash paid for intangible assets		(300	)		(200	)
Proceeds from sales of investments		71,414			72,597
Purchase of investments		(747	)		(21,624	)
Consolidated CLO entity investing activities:
Proceeds from sales and maturities of bank loans and other investments		192,036			182,784
Purchase of bank loans and other investments		(6,547	)		(163,037	)
Net cash provided by investing activities		165,207			55,258

See notes to Consolidated Financial Statements.

9

Eaton Vance Corp.

Consolidated Statements of Cash Flows (unaudited) (continued)

	Nine Months Ended
	July 31,
(in thousands)	2013			2012
Cash Flows From Financing Activities:
Purchase of additional non-controlling interest		(43,507	)		(19,864	)
Proceeds from issuance of subsidiary equity		1,092			-
Line of credit issuance costs		-			(1,192	)
Long-term debt issuance costs		(3,012	)		-
Proceeds from issuance of long-term debt		323,440			-
Repayment of long-term debt		(250,000	)		-
Loss on extinguishment of debt		(52,886	)		-
Proceeds from issuance of Voting Common Stock		-			56
Proceeds from issuance of Non-Voting Common Stock		99,853			22,848
Repurchase of Voting Common Stock		(73	)		-
Repurchase of Non-Voting Common Stock		(48,162	)		(76,586	)
Principal repayments on notes receivable from stock option exercises		2,028			764
Excess tax benefit of stock option exercises		15,682			2,228
Dividends paid		(191,266	)		(65,950	)
Net subscriptions received from (redemptions/distributions paid to) non-controlling interest holders		59,874			27,138
Consolidated CLO entity financing activities:
Principal repayments of senior notes		(159,942	)		-
Net cash used for financing activities		(246,879	)		(110,558	)
Effect of currency rate changes on cash and cash equivalents		(761	)		(219	)
Net (decrease) increase in cash and cash equivalents		(82,662	)		89,269
Cash and cash equivalents, beginning of period		462,076			510,913
Cash and cash equivalents, end of period	$	379,414		$	600,182
Supplemental Cash Flow Information:
Cash paid for interest	$	20,473		$	24,524
Cash paid for interest by consolidated CLO entity		11,069			13,584
Cash paid for income taxes, net of refunds		115,502			117,829
Supplemental Disclosure of Non-Cash Information:
Increase in equipment and leasehold improvements due to non-cash additions	$	438		$	174
Exercise of stock options through issuance of notes receivable		4,734			211
Non-controlling interest call option recorded in other liabilities		3,096			-
Deconsolidations of Sponsored Investment Funds:
Decrease in investments	$	(59,889	)	$	(23,639	)
Decrease in non-controlling interests		(61,023	)		(21,586	)

See notes to Consolidated Financial Statements.

10

Eaton Vance Corp.

Notes to Consolidated Financial Statements (unaudited)

1.   Basis of Presentation

In the opinion of management, the accompanying unaudited interim Consolidated Financial Statements of Eaton Vance Corp. (“the Company”) include all adjustments necessary to present fairly the results for the interim periods in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures have been omitted pursuant to such rules and regulations. As a result, these financial statements should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company’s latest annual report on Form 10-K.

2.   Principles of Consolidation

The Consolidated Financial Statements include the accounts of the Company and its controlled affiliates. The Company consolidates any voting interest entity in which the Company’s ownership exceeds 50 percent or where the Company has control. In addition, the Company consolidates any variable interest entity (“VIE”) (including the collateralized loan obligation (“CLO”) entity referred to in Note 9) for which the Company is considered the primary beneficiary. The Company recognizes non-controlling and other beneficial interests in consolidated affiliates in which the Company’s ownership is less than 100 percent. All intercompany accounts and transactions have been eliminated in consolidation.

From time to time, the Company may maintain a controlling interest in an Eaton Vance open-end registered investment company (a “sponsored fund”). Upon consolidation, the Company retains the specialized accounting treatment of the sponsored fund. Under the specialized accounting guidance for investment companies, underlying investments held by consolidated sponsored funds are carried at fair value, with corresponding changes in fair value reflected in gains and other investment income, net, in the Company’s Consolidated Statements of Income.

With limited exceptions, each of the Company’s sponsored funds is organized as a separately managed component (or “series”) of a series trust. All assets of a series irrevocably belong to that series and are subject to the liabilities of that series; under no circumstances are the liabilities of one series payable by another series. Series trusts themselves have no equity investment at risk, but decisions regarding the trustees of the trust and certain key activities of each sponsored fund within the trust, such as appointment of each sponsored fund’s investment adviser, typically reside at the trust level. As a result, shareholders of a sponsored fund that is organized as a series of a series trust lack the ability to control the key decision-making processes that most directly affect the performance of the sponsored fund. Accordingly, the Company believes that each trust is a VIE and each sponsored fund is a silo of a VIE that also meets the definition of a VIE. Having concluded that each silo is a VIE, the primary beneficiary evaluation defaults to an analysis of economic interest. The Company typically holds the majority of the shares of a sponsored fund corresponding to a majority economic interest during the seed investment stage when the fund’s investment track record is being established or when the fund is in the early stages of soliciting third-party investors. The Company consolidates the fund as primary beneficiary during this period. While the sponsored fund is consolidated, fee revenue is recorded, but is eliminated in consolidation.

The Company regularly seeds new sponsored funds and therefore may consolidate a variety of sponsored funds during a given reporting period. Due to the similarity of risks related to the Company’s involvement with each sponsored fund, disclosures required under the VIE model are aggregated, such as those disclosures regarding

11

the carrying amount and classification of assets of the sponsored funds, and the gains and losses that the Company recognizes from the sponsored funds.

When the Company is no longer deemed to control a sponsored fund, typically when either the Company redeems its shares or shares held by third parties exceed the number of shares held by the Company, the Company deconsolidates the sponsored fund and removes the related assets, liabilities and non-controlling interests from balance sheet accounts and classifies the Company’s remaining investment as either an equity method investment or an available-for-sale investment as applicable. Because consolidated sponsored funds utilize fair-value measurements, there is no incremental gain or loss recognized upon deconsolidation.

The extent of the Company’s exposure to loss with respect to a consolidated sponsored fund is the amount of the Company’s investment in the sponsored fund. The Company is not obligated to provide financial support to sponsored funds, and the assets of sponsored funds can only be used to settle obligations of the sponsored funds. Beneficial interest holders of sponsored funds do not have recourse to the general credit of the Company.

3.   New Accounting Standards Not Yet Adopted

Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss or a Tax Credit Carryforward Exists

In July 2013, the Financial Accounting Standards Board (“FASB”) issued new guidance requiring an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for any net operating loss carryforward, similar tax loss or tax credit carryforward unless such tax loss or credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes resulting from the disallowance of a tax position. In the event that the tax position is disallowed or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit shall be presented in the financial statements as a liability and shall not be combined with deferred tax assets. The new guidance will be effective for the Company on November 1, 2014. The Company does not anticipate that the adoption of the new guidance will have a material impact on the Company’s consolidated financial statements.

Investment Companies

In June 2013, the FASB issued a final standard amending the current criteria for an entity to qualify as an investment company, creating new disclosure requirements and amending the measurement criteria for certain interests in other investment companies. The Company is evaluating the impact of this amendment and will adopt the new guidance on November 1, 2015.

Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity

In March 2013, the FASB issued new guidance on reporting a cumulative translation adjustment (“CTA”) with respect to foreign currency. The new guidance addresses the accounting for a CTA when a parent either sells a part of or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. The Company is evaluating the impact of this change and will adopt the new guidance on November 1, 2014.

Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income

In February 2013, the FASB issued new guidance on reporting amounts reclassified out of accumulated other comprehensive income (“AOCI”). The new guidance does not change the requirements for reporting net income or other comprehensive income in the financial statements, but requires new footnote disclosures regarding the reclassification of AOCI by component into net income. The Company will implement the new disclosure requirements in the first quarter of fiscal 2014.

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4.   Consolidated Funds

Underlying investments held by consolidated sponsored funds were included in investments on the Company’s Consolidated Balance Sheets and classified as investment securities, trading, at July 31, 2013 and October 31, 2012. Net investment income related to consolidated sponsored funds was included in (losses) gains and other investment income, net, on the Company’s Consolidated Statements of Income for all periods presented. Net investment income was partially offset by amounts attributable to non-controlling interest holders, which are recorded in net income attributable to non-controlling and other beneficial interest holders in the Company’s Consolidated Statements of Income for all periods presented.

The following table sets forth the balances related to consolidated sponsored funds that are included on the Company’s Consolidated Balance Sheets at July 31, 2013 and October 31, 2012 as well as the Company’s net interest in these funds:

(in thousands)	July 31, 2013			October 31, 2012
Investments	$	181,275		$	157,405
Other assets		6,491			5,594
Other liabilities		(19,051	)		(16,928	)
Redeemable non-controlling interests		(35,304	)		(20,072	)
Net interest in consolidated sponsored funds(1)	$	133,411		$	125,999

⁽¹⁾ Excludes the Company's investment in its consolidated CLO entity, which is discussed in Note 9.

In both the nine months ended July 31, 2013 and 2012, the Company deconsolidated a total of five sponsored funds.

5.   Investments

The following is a summary of investments at July 31, 2013 and October 31, 2012:

(in thousands)	July 31, 2013		October 31, 2012
Investment securities, trading:
Cash management assets	$	10,477	$	-
Consolidated sponsored funds		181,275		157,405
Separately managed accounts		57,373		32,848
Total investment securities, trading		249,125		190,253
Investment securities, available-for-sale		17,457		31,148
Investment in non-consolidated CLO entity		317		350
Investments in equity method investees		271,044		257,652
Investments, other		7,531		7,530
Total investments(1)	$	545,474	$	486,933

⁽¹⁾ Excludes the Company's investment in its consolidated CLO entity, which is discussed in Note 9.

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Investment securities, trading

Investment securities, trading, consist of cash management assets held by the Company, including certificates of deposit, commercial paper and corporate debt securities with original maturities ranging from three months up to twenty-four months, and debt and equity securities held in the portfolios of consolidated sponsored funds and separately managed accounts. A separately managed account seeded by the Company for product development purposes is not a legal entity subject to consolidation, but rather an individual portfolio of securities in the Company’s name managed to establish an investment track record. As a result, the Company looks through the construct of the portfolio to the underlying debt and equity securities and treats these securities as trading investments for accounting and disclosure purposes. The following is a summary of the fair value of investments classified as trading at July 31, 2013 and October 31, 2012:

(in thousands)	July 31, 2013		October 31, 2012
Cash management assets	$	10,477	$	-
Debt securities - consolidated sponsored funds and separately managed accounts		148,426		70,805
Equity securities - consolidated sponsored funds and separately managed accounts		90,222		119,448
Total investment securities, trading	$	249,125	$	190,253

The Company seeds new investment strategies on a regular basis as a means of establishing investment records that can be used in marketing those strategies to retail and institutional clients. New investment strategies may be seeded as either sponsored funds or separately managed accounts. During the nine months ended July 31, 2013, the Company seeded investments in 10 sponsored funds and 15 separately managed accounts; during the nine months ended July 31, 2012, the Company seeded investments in 14 sponsored funds and 4 separately managed accounts.

The Company recognized trading (losses) gains related to trading securities still held at the reporting date of $(5.0) million and $(1.0) million for the three months ended July 31, 2013 and 2012, respectively, and $10.9 million and $5.8 million for the nine months ended July 31, 2013 and 2012, respectively.

Investment securities, available-for-sale

Investment securities, available-for-sale, consist exclusively of seed investments in certain sponsored funds, privately offered equity funds and closed-end funds, where the company has less than a 20 percent interest in the fund. The following is a summary of the gross unrealized gains and (losses) included in accumulated other comprehensive income related to securities classified as available-for-sale at July 31, 2013 and October 31, 2012:

July 31, 2013			Gross Unrealized
(in thousands)	Cost		Gains		Losses			Fair Value
Investment securities, available-for-sale	$	10,939	$	6,609	$	(91	)	$	17,457

October 31, 2012			Gross Unrealized
(in thousands)	Cost		Gains		Losses			Fair Value
Investment securities, available-for-sale	$	22,331	$	8,835	$	(18	)	$	31,148

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Net unrealized holding gains (losses) on investment securities, available-for-sale, included in other comprehensive (loss) income were $0.6 million and $(0.3) million for the three months ended July 31, 2013 and 2012, respectively, and $(2.3) million and $2.5 million for the nine months ended July 31, 2013 and 2012, respectively.

The Company reviewed gross unrealized losses of $91,000 as of July 31, 2013 and determined that these losses were not other-than-temporary, primarily because the Company has both the ability and intent to hold the investments for a period of time sufficient to recover such losses. The aggregate fair value of investments with unrealized losses was $1.2 million at July 31, 2013. No investment with a gross unrealized loss has been in a loss position for greater than one year.

The following is a summary of the Company’s realized gains and losses upon disposition of investments classified as available-for-sale for the three and nine months ended July 31, 2013 and 2012:

	Three Months Ended						Nine Months Ended
	July 31,						July 31,
(in thousands)	2013			2012			2013			2012
Gains	$	415		$	41		$	5,666		$	288
Losses		(235	)		(230	)		(235	)		(353	)
Net realized gains (losses)	$	180		$	(189	)	$	5,431		$	(65	)

Investments in equity method investees

On August 6, 2012, the Company completed the purchase of a 49 percent interest in Hexavest Inc. (“Hexavest”), a Montreal, Canada-based investment advisor that provides discretionary management of equity and tactical asset allocations using a predominantly top-down investment style. The Company accounted for the purchase using the equity method. As of July 31, 2013, the investment in Hexavest was comprised of $5.0 million of equity in the net assets of Hexavest, intangible assets of $39.7 million, goodwill of $142.6 million and a deferred tax liability of $10.7 million, for a total carrying value of $176.6 million. As of October 31, 2012, the investment in Hexavest was comprised of $3.4 million of equity in the net assets of Hexavest, intangible assets of $42.7 million, goodwill of $146.6 million and a deferred tax liability of $11.5 million, for a total carrying value of $181.2 million. The Company will be obligated to make two additional payments in respect of the acquired interest if Hexavest exceeds defined annual revenue thresholds in the first and second twelve-month periods following the closing. These payments, if made, will be considered goodwill and will be recorded as additions to the carrying amount of the equity method investment. The Company’s interest in finite-lived intangible assets acquired in the transaction is being amortized over an estimated useful life of seventeen years.

In connection with the transaction, the Company also acquired an option, executable in fiscal 2017, to purchase an additional 26 percent interest in Hexavest. As part of the purchase price allocation, a value of $8.1 million was assigned to this option. The option is included in other assets in the Company’s Consolidated Balance Sheet at July 31, 2013 and October 31, 2012.

The Company has a 7 percent equity interest in a private equity partnership managed by a third party that invests in companies in the financial services industry. The Company’s investment in the partnership was $5.0 million and $9.8 million at July 31, 2013 and October 31, 2012, respectively.

The Company had equity-method investments in the following sponsored funds as of July 31, 2013 and October 31, 2012:

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	Equity Ownership Interest (%)						Carrying Value ($)(1)
	July 31,			October 31,			July 31,		October 31,
(dollar amounts in thousands)	2013			2012			2013		2012
Eaton Vance Atlanta Capital Select Equity Fund		39	%		-		$	23,835	$	-
Eaton Vance Hexavest Global Equity Fund		35	%		-			23,308		-
Eaton Vance Real Estate Fund		39	%		48	%		13,465		16,494
Eaton Vance Municipal
Opportunities Fund		32	%		-			10,250		-
Eaton Vance Focused Value
Opportunities Fund		39	%		-			6,609		-
Eaton Vance Focused Growth
Opportunities Fund		41	%		-			6,416		-
Eaton Vance Tax-Advantaged Bond
Strategies Long Term Fund		28	%		31	%		5,609		10,346
Eaton Vance Richard Bernstein
All Asset Strategy Fund		-			44	%		-		23,341
AGF Floating Rate Income Fund		-			21	%		-		15,334
Parametric Structured Currency Fund		-			33	%		-		1,043
Total							$	89,492	$	66,558

⁽¹⁾ The carrying value of equity method investments in Eaton Vance-managed funds is measured based on the funds’ net asset values. The Company has the ability to redeem its investments in these funds at any time. Not shown are Company investments in certain of the above-listed funds that were not accounted for as equity method investments as of the indicated date.

The Company did not recognize any impairment losses related to its investments in equity method investees during the three and nine months ended July 31, 2013 and 2012, respectively.

During the nine months ended July 31, 2013 and 2012, the Company received dividends of $13.2 million and $11.1 million, respectively, from its investments in equity method investees.

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6.   Fair Value Measurements

The following tables summarize financial assets and liabilities measured at fair value on a recurring basis and their assigned levels within the valuation hierarchy at July 31, 2013 and October 31, 2012:

July 31, 2013
(in thousands)	Level 1		Level 2		Level 3		Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents	$	99,310	$	3,700	$	-	$	-	$	103,010
Investments:
Investment securities, trading:
Cash management assets		-		10,477		-		-		10,477
Debt - consolidated sponsored funds and separately managed accounts		74,601		73,825		-		-		148,426
Equity - consolidated sponsored funds and separately managed accounts		52,137		38,085		-		-		90,222
Investment securities, available-for-sale		12,099		5,358		-		-		17,457
Investment in non-consolidated CLO entity(1)		-		-		-		317		317
Investments in equity method investees(2)		-		-		-		271,044		271,044
Investments, other(3)		-		61		-		7,470		7,531
Derivative instruments		-		1,302		-		-		1,302
Assets of consolidated CLO entity:
Cash equivalents		56,725		-		-		-		56,725
Bank loans and other investments		-		242,946		3,045		-		245,991
Total financial assets	$	294,872	$	375,754	$	3,045	$	278,831	$	952,502
Financial liabilities:
Derivative instruments	$	-	$	6,668	$	-	$	-	$	6,668
Securities sold, not yet purchased		-		1,572		-		-		1,572
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations		-		2,635		288,540		-		291,175
Total financial liabilities	$	-	$	10,875	$	288,540	$	-	$	299,415

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October 31, 2012
(in thousands)	Level 1		Level 2		Level 3		Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents	$	16,390	$	139,469	$	-	$	-	$	155,859
Investments:
Investment securities, trading – debt		4,512		66,293		-		-		70,805
Investment securities, trading – equity		87,991		31,457		-		-		119,448
Investment securities, available-for-sale		26,736		4,412		-		-		31,148
Investment in non-consolidated CLOentity(1)		-		-		-		350		350
Investments in equity method investees(2)		-		-		-		257,652		257,652
Investments, other(3)		-		60		-		7,470		7,530
Derivative instruments		-		2,229		-		-		2,229
Assets of consolidated CLO entity:
Cash equivalents		34,561		-		-		-		34,561
Bank loans and other investments		98		428,282		2,203		-		430,583
Total financial assets	$	170,288	$	672,202	$	2,203	$	265,472	$	1,110,165
Financial liabilities:
Derivative instruments	$	-	$	788	$	-	$	-	$	788
Securities sold, not yet purchased		-		26,142		-		-		26,142
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations		-		2,659		443,946		-		446,605
Total financial liabilities	$	-	$	29,589	$	443,946	$	-	$	473,535

(1) The Company’s investment in this CLO entity is measured at fair value on a non-recurring basis using Level 3 inputs. The investment is carried at amortized cost unless facts and circumstances indicate that the investment has been impaired, at which time the investment is written down to fair value. There was no re-measurement of this asset during the nine month period ended July 31, 2013 or the twelve month period ended October 31, 2012.

(2) Investments in equity method investees are not measured at fair value in accordance with GAAP.

(3) Investments, other include investments carried at cost that are not measured at fair value in accordance with GAAP.

Valuation methodologies

The following is a description of the valuation methodologies used for financial assets and liabilities measured at fair value on a recurring basis as well as the general classification of those assets and liabilities pursuant to the valuation hierarchy:

Cash equivalents

The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Cash equivalents consist of investments in money market funds, government and agency securities, commercial paper and certificates of deposit. Money market funds are valued using published net asset values and are classified as Level 1 within the valuation hierarchy. Government and agency securities are valued based

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upon quoted market prices for similar assets in active markets, quoted prices for identical or similar assets that are not active, and inputs other than quoted prices that are observable or corroborated by observable market data. Depending on the nature of the inputs, these assets are generally classified as Level 1 or 2 within the valuation hierarchy. The carrying amounts of commercial paper and certificates of deposit are valued at amortized cost, which approximates market value, and are generally classified as Level 2 within the valuation hierarchy.

Investment securities, trading – cash management assets

Investment securities, trading – corporate cash management assets consist of certificates of deposit, commercial paper and corporate debt obligations with original maturities from three months to twenty-four months. Debt obligations are generally valued on the basis of valuations provided by third-party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and asked prices, broker-dealer quotations, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Depending on the nature of the inputs, investment securities, trading – corporate cash management assets are generally classified as Level 1 or 2 within the valuation hierarchy.

Investment securities, trading – debt-consolidated funds and separately managed accounts

Investment securities, trading – debt, consist of debt obligations held in the portfolios of consolidated sponsored funds and separately managed accounts. Debt obligations (including short-term obligations with a remaining maturity of more than sixty days) are generally valued on the basis of valuations provided by third-party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and asked prices, broker-dealer quotations, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term obligations purchased with a remaining maturity of sixty days or less (excluding those that are non-U.S. denominated, which typically are valued by a third-party pricing service or dealer quotes) are generally valued at amortized cost, which approximates market value. Depending upon the nature of the inputs, investment securities, trading – debt, are generally classified as Level 1 or 2 within the valuation hierarchy.

Investment securities, trading – equity-consolidated funds and separately managed accounts

Investment securities, trading – equity, consist of foreign and domestic equity securities held in the portfolios of consolidated sponsored funds and separately managed accounts. Equity securities listed on a U.S. securities exchange generally are valued at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and asked prices on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ Global or Global Select market generally are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing prices or closing quotations are not available are valued at the mean between the latest available bid and asked prices. When valuing foreign equity securities that meet certain criteria as established by our fair value pricing service, the portfolios use a fair value service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities. The service utilizes a multi-factor model that considers such information as an issue’s local closing price and post-closing fluctuations in relevant general market and sector indices, currencies, depositary receipts and futures, as applicable. The size of the adjustment is determined by the observed changes in these factors since the close of the applicable foreign market. The pricing service uses a multiple regression methodology and back testing to validate the quality and correlations of their evaluations. In addition, the Company performs its own independent back test review of fair values versus the subsequent local market opening prices when

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available. Depending upon the nature of the inputs, investment securities, trading – equity are generally classified as Level 1 or 2 within the valuation hierarchy.

Investment securities, available-for-sale

Investment securities, available-for-sale, consist of investments in sponsored mutual funds and privately offered equity funds. Sponsored mutual funds that are listed on an active exchange are valued using published net asset values and are classified as Level 1 within the valuation hierarchy. Investments in sponsored privately offered equity funds and portfolios that are not listed on an active exchange but have net asset values that are comparable to mutual funds and have no redemption restrictions are classified as Level 2 within the valuation hierarchy.

Derivative instruments

Derivative instruments, which include foreign exchange contracts, stock index futures contracts and commodity futures contracts, are recorded as either other assets or other liabilities on the Company’s Consolidated Balance Sheets. Foreign exchange contracts are valued by interpolating a value using the spot foreign exchange rate and forward points, which are based on spot rate and currency interest rate differentials. Index futures contracts and commodity futures contracts are valued using a third-party pricing service that determines fair value based on bid and ask prices. Derivative instruments are generally classified as Level 2 within the valuation hierarchy.

Assets of consolidated CLO entity

Assets of the consolidated CLO entity include investments in money market funds, equity securities, debt securities, bank loans and warrants. Fair value is determined utilizing unadjusted quoted market prices when available. Interests in senior floating-rate loans for which reliable market quotations are readily available are valued generally at the average mid-point of bid and ask quotations obtained from a third-party pricing service. Fair value may also be based upon valuations obtained from independent third-party brokers or dealers utilizing matrix pricing models that consider information regarding securities with similar characteristics. In certain instances, fair value has been determined utilizing discounted cash flow analyses or single broker non-binding quotes. Depending on the nature of the inputs, these assets are classified as Level 1, 2 or 3 within the valuation hierarchy.

Securities sold, not yet purchased

Securities sold, not yet purchased, are recorded as other liabilities on the Company’s Consolidated Balance Sheets and are valued by a third-party pricing service that determines fair value based on bid and ask prices. Securities sold, not yet purchased, are generally classified as Level 2 within the valuation hierarchy.

Liabilities of consolidated CLO entity

Liabilities of the consolidated CLO entity include debt securities and senior and subordinated note obligations of the consolidated CLO entity. The debt securities are valued based upon quoted prices for identical or similar liabilities that are not active and inputs other than quoted prices that are observable or corroborated by observable market data. The senior and subordinated notes are valued based upon model-based valuation techniques in which one or more significant inputs are unobservable in the market. Depending on the nature of the inputs, these liabilities are classified as Level 2 or 3 within the valuation hierarchy.

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Transfers in and/or out of Levels

The following table summarizes fair value transfers between Level 1 and Level 2 for the three and nine months ended July 31, 2013 and 2012:

	Three Months Ended July 31,				Nine Months Ended July 31,
(in thousands)	2013		2012		2013		2012
Transfers from Level 1 into Level 2(1)	$	237	$	7,861	$	43	$	18,104
Transfers from Level 2 into Level 1(2)		149		-		1,332		-

⁽¹⁾ Transfers from Level 1 into Level 2 primarily represent debt and equity securities that were valued based on prices of similar securities because unadjusted quoted market prices were not available in the current period.

⁽²⁾ Transfers from Level 2 into Level 1 primarily represent debt and equity securities due to the availability of unadjusted quoted market prices in active markets.

Level 3 assets and liabilities

The following table shows a reconciliation of the beginning and ending fair value measurements of assets and liabilities that are valued on a recurring basis and classified as Level 3 for the three and nine months ended July 31, 2013 and 2012:

	Three Months Ended						Three Months Ended
	July 31, 2013						July 31, 2012
(in thousands)	Bank loans and other investments of consolidated CLO entity			Senior and subordinated note obligations of consolidated CLO entity			Bank loans and other investments of consolidated CLO entity			Senior and subordinated note obligations of consolidated CLO entity
Beginning balance	$	2,819		$	365,460		$	2,150		$	483,062
Net gains (losses) on investments and note obligations included in net income(1)		(101	)		(720	)		(139	)		(8,599	)
Principal paydown		-			(76,200	)		-			-
Transfers into Level 3(2)		327			-			122			-
Transfers out of Level 3(3)		-			-			(15	)		-
Ending balance	$	3,045		$	288,540		$	2,118		$	474,463
Change in unrealized (losses) gains included in net income relating to assets and liabilities held	$	(101	)	$	(720	)	$	(139	)	$	(8,599	)

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	Nine Months Ended						Nine Months Ended
	July 31, 2013						July 31, 2012
(in thousands)	Bank loans and other investments of consolidated CLO entity			Senior and subordinated note obligations of consolidated CLO entity			Bank loans and other investments of consolidated CLO entity			Senior and subordinated note obligations of consolidated CLO entity
Beginning balance	$	2,203		$	443,946		$	5,910		$	477,699
Net gains (losses) on investments and note obligations included in net income(1)		(80	)		4,536			(139	)		(603	)
Principal paydown		-			(159,942	)		-			-
Transfers into Level 3(2)		922			-			137			-
Transfers out of Level 3(3)		-			-			(3,790	)		(2,633	)
Ending balance	$	3,045		$	288,540		$	2,118		$	474,463
Change in unrealized (losses) gains included in net income relating to  assets and liabilities held	$	(80	)	$	4,536		$	(139	)	$	(603	)

(1) Substantially all net gains and losses on investments and note obligations attributable to the assets and borrowings of the Company's consolidated CLO entity are allocated to non-controlling and other beneficial interests on the Company's Consolidated Statements of Income.

(2) Transfers into Level 3 were the result of a reduction in the availability of significant observable inputs used in determining the fair value of a second lien term loan. Fair value was determined utilizing a discounted cash flow analysis.

(3) Transfers out of Level 3 into Level 2 were due to an increase in the observability of the inputs used in determining the fair value of certain instruments.

The following table shows the valuation technique and significant unobservable inputs utilized in the fair value measurement of Level 3 liabilities at July 31, 2013 and October 31, 2012:

July 31, 2013			Valuation	Unobservable
($ in thousands)	Fair Value		Technique	Inputs(1)	Range
Liabilities of consolidated CLO entity:
Senior and subordinatednote obligations	$	288,540	Income approach	Prepayment rate Recovery rate Default rate Discount rate	30 percent 70 percent 200 bps 110-475 bps

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October 31, 2012			Valuation	Unobservable
($ in thousands)	Fair Value		Technique	Inputs(1)	Range
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations	$	443,946	Income approach	Prepayment rate Recovery rate Default rate Discount rate	30 percent 70 percent 200 bps 135-700 bps

⁽¹⁾ Discount rate refers to spread over LIBOR. Lower spreads relate to the more senior tranches in the CLO note structure; higher spreads relate to the less senior tranches. The default rate refers to the constant annual default rate. Recovery rate is the expected recovery of defaulted amounts received through asset sale or recovery through bankruptcy restructuring or other settlement processes. Prepayment rate is the rate at which the underlying collateral is expected to repay principal.

Valuation process

The Company elected the fair value option for both the collateral assets held and senior and subordinated notes issued by its consolidated CLO entity upon consolidation to mitigate any accounting inconsistencies between the carrying value of the assets held to provide cash flows for the note obligations and the carrying value of those note obligations.

Senior and subordinated note obligations of the Company’s consolidated CLO entity are issued in various tranches with different risk profiles. The notes are valued on a quarterly basis by the Company’s bank loan investment team utilizing an income approach that projects the cash flows of the collateral assets using the team’s projected default rate, prepayment rate, recovery rate and discount rate, as well as observable assumptions about market yields, collateral reimbursement assumptions, callability and other market factors that vary based on the nature of the investments in the underlying collateral pool. Once the undiscounted cash flows of the collateral assets have been determined, the bank loan team applies appropriate discount rates that it believes a reasonable market participant would use to determine the discounted cash flow valuation of the notes. The bank loan team routinely monitors market conditions and model inputs for cyclical and secular changes in order to identify any material factors that could influence the Company’s valuation method. The bank loan team reports directly to the Chief Income Investment Officer.

Sensitivity to changes in significant unobservable inputs

For senior and subordinated notes issued by the Company’s consolidated CLO entity, a change in the assumption used for the probability of default is generally accompanied by a directionally similar change in the assumption used for discount rates. Significant increases in either of these inputs would result in a significantly lower measurement of fair value.

Although the Company believes the valuation methods described above are appropriate, the use of different methodologies or assumptions to determine fair value could result in a different estimate of fair value at the reporting date.

7.   Derivative Financial Instruments

Derivative financial instruments designated as cash flow hedges

On June 25, 2013, the Company issued $325 million in aggregate principal amount of 3.625 percent ten-year Senior Notes due in June 2023 (the “2023 Senior Notes”). In anticipation of the offering, the Company entered

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into a forward-starting interest rate swap intended to hedge changes in the benchmark interest rate between the time at which the decision was made to issue the debt and the pricing of the securities. The benchmark interest rate increased during this time and the Company received payment to settle the hedge for a gain of $2.0 million. At termination, the hedge was determined to be an effective cash flow hedge and the $2.0 million gain was recorded in other comprehensive (loss) income, net of taxes of $0.8 million. The gain recorded in other comprehensive (loss) income will be reclassified to earnings as a component of interest expense over the term of the debt. During the three months ended July 31, 2013, approximately $25,000 of this deferred gain was reclassified into interest expense. During the next twelve months, the Company expects to reclassify approximately $0.2 million of the gain into interest expense.

During the nine months ended July 31, 2013 and 2012, the Company reclassified into interest expense $0.3 million of the loss on a Treasury lock transaction in connection with the Company’s 2007 issuance of ten-year Senior notes due in October 2017 (the “2017 Senior Notes”). The Company also recognized an additional $0.9 million in interest expense to accelerate the amortization of the treasury lock tied to the portion of the 2017 Senior Notes retired on June 28, 2013. At July 31, 2013, the remaining unamortized loss on the Treasury lock was $0.9 million. During the next twelve months, the Company expects to reclassify approximately $0.2 million of the loss on the Treasury lock transaction into interest expense.

Other derivative financial instruments not designated for hedge accounting

In June 2013, the Company entered into a reverse treasury lock in conjunction with the Company’s tender offer to purchase up to $250 million of its outstanding 6.5 percent Senior Notes due in October 2017 (the “2017 Senior Notes”). The transaction effectively locked in the benchmark interest rate to be used in determining the premium above par to be paid to note holders in conjunction with the repurchase of the 2017 Senior Notes tendered. The reference U.S. Treasury rate increased during the time the reverse treasury lock was outstanding and the Company recognized a $3.1 million loss upon termination in June. This loss was included in (losses) gains and other investment income, net in the Company’s Consolidated Statement of Income.

The Company has entered into a series of foreign exchange contracts, stock index futures contracts and commodity futures contracts to hedge currency risk exposure and market risk associated with its investments in separately managed accounts and consolidated sponsored funds seeded for new product development purposes.

At July 31, 2013, the Company had 36 foreign exchange contracts outstanding with one counterparty with an aggregate notional value of $53.6 million; 2,824 stock index futures contracts outstanding with one counterparty with an aggregate notional value of $192.2 million; and 245 commodity futures contracts outstanding with one counterparty with an aggregate notional value of $12.6 million.

The following tables present the fair value of derivative instruments not designated as hedging instruments as of July 31, 2013 and October 31, 2012:

July 31, 2013
	Assets			Liabilities
(in thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other assets	$	767	Other liabilities	$	90
Stock index futures contracts	Other assets		202	Other liabilities		6,407
Commodity futures contracts	Other assets		333	Other liabilities		171
Total		$	1,302		$	6,668

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October 31, 2012
	Assets			Liabilities
(in thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other assets	$	226	Other liabilities	$	300
Stock index futures contracts	Other assets		1,505	Other liabilities		367
Commodity futures contracts	Other assets		498	Other liabilities		121
Total		$	2,229		$	788

The following is a summary of the net (losses) gains recognized in income for the three and nine months ended July 31, 2013 and 2012:

	Income Statement	Three Months Ended July 31,					Nine Months Ended July 31,
(in thousands)	Location	2013			2012		2013			2012
Foreign exchange contracts	(Losses) gains and other investment income, net	$	1,212		$	299	$	2,406		$	727
Stock index futures contracts	(Losses) gains and other investment income, net		(3,028	)		616		(21,939	)		(9,285	)
Commodity futures contracts	(Losses) gains and other investment income, net		483			56		1,177			1,069
Interest rate contracts	(Losses) gains and other investment income, net		(3,075	)		-		(3,075	)		-
Total		$	(4,408	)	$	971	$	(21,431	)	$	(7,489	)

8.   Fair Value Measurements of Other Financial Instruments

Certain financial instruments are not carried at fair value. The following is a summary of the carrying amounts and estimated fair values of these financial instruments at July 31, 2013 and October 31, 2012:

	July 31, 2013						October 31, 2012
(in thousands)	Carrying Value		Fair Value		Fair Value Level		Carrying Value		Fair Value		Fair Value Level
Investments, other	$	7,470	$	7,470		3	$	7,470	$	7,470		3
Other assets	$	8,075	$	8,075		3	$	8,307	$	8,307		3
Debt	$	573,460	$	601,121		2	$	500,000	$	604,316		2

Included in investments, other, is a $6.6 million non-controlling capital interest in Atlanta Capital Management Holdings, LLC (“ACM Holdings”), a partnership that owns certain non-controlling interests of Atlanta Capital Management LLC (“Atlanta Capital”). The Company’s interest in ACM Holdings is non-voting and entitles the Company to receive $6.6 million when put or call options for certain non-controlling interests of Atlanta Capital are exercised. The carrying value of this investment approximates fair value. The fair value of the investment is determined using a cash flow model which projects future cash flows based upon contractual obligations. Once

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the undiscounted cash flows have been determined, the Company applies an appropriate discount rate. The inputs to the model are considered Level 3.

Included in other assets is a five-year option to acquire an additional 26 percent interest in Hexavest. The $8.1 million carrying value of this option approximates fair value. The fair value of the option is determined using a Monte Carlo model which simulates potential future market multiples of earnings before interest and taxes (“EBIT”) and compares this to the contractually fixed multiple of Hexavest’s EBIT at which the option can be exercised. The Monte Carlo model uses this array of simulated multiples and their difference from the contractual multiple times the projected EBIT for Hexavest to estimate the future exercise value of the option, which is then adjusted to present value. The inputs to the model are considered Level 3.

The fair value of the Company’s debt has been determined using publicly available market prices, which are considered Level 2 inputs.

9.   VIEs

In the normal course of business, the Company maintains investments in sponsored CLO entities, sponsored funds and privately offered equity funds that are considered VIEs. These variable interests generally represent seed investments made by the Company, as collateral manager or investment advisor, to launch or market these vehicles. The Company receives management fees for the services it provides as collateral manager or investment advisor to these entities. These fees may also be considered variable interests.

To determine whether or not the Company should be treated as the primary beneficiary of a VIE, management must make significant estimates and assumptions regarding probable future cash flows of the VIE. These estimates and assumptions relate primarily to market interest rates, credit default rates, prepayment rates, discount rates, the marketability of certain securities and the probability of certain outcomes.

Investments in VIEs that are consolidated

Sponsored funds

From time to time the Company invests in investment companies that meet the definition of a VIE. Disclosure regarding such consolidated sponsored funds is included in Note 4. In the ordinary course of business, the Company may elect to contractually waive investment advisory fees that it is entitled to receive from sponsored funds, and these waivers are disclosed in Note 20.

Consolidated CLO entity

The Company is the primary beneficiary of one CLO entity where it has, by design and in its role as collateral manager, the power to direct the activities that most significantly impact the economic performance of the entity. In developing its conclusion that it is the primary beneficiary of this entity, the Company determined that it has variable interests in the entity by virtue of both its residual interest in, and collateral management fees it receives from, the entity and that these variable interests may represent an obligation to absorb losses of or a right to receive benefits from the entity that could potentially be significant to the entity. Quantitative distinguishing factors supporting the Company’s qualitative conclusion included the relative size of the Company’s economic interest (approximately 8 percent, which is greater than the Company’s investment in the non-consolidated CLO entities in which the Company holds variable interests and serves as collateral manager) and the presence of an incentive management fee which, when combined with returns on the Company’s residual interest, may result in more than an insignificant economic interest in the total returns of the entity. In consideration of these factors, the Company concluded that it was the primary beneficiary of that CLO entity for consolidation accounting purposes.

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The Company irrevocably elected the fair value option for all financial assets and liabilities of the consolidated CLO entity. Unrealized gains and losses on assets and liabilities for which the fair value option has been elected are reported in gains and other investment income, net, in the Company’s Consolidated Statements of Income. Although the subordinated note obligations of the CLO entity have certain equity characteristics, the Company has determined that the subordinated notes should be recorded as liabilities in the Company’s Consolidated Balance Sheets.

The assets of this CLO entity are held solely as collateral to satisfy the obligations of the entity. The Company has no right to the benefits from, nor does the Company bear the risks associated with, the assets held by the entity beyond the Company’s minimal direct investment and beneficial interest therein and management fees generated from the entity. The note holders of the CLO entity have no recourse to the Company’s general assets. There are no explicit arrangements nor does the Company hold implicit variable interests that would require the Company to provide any ongoing financial support to the entity.

The following tables present, as of July 31, 2013 and October 31, 2012, the fair value of the consolidated CLO entity’s assets and liabilities subject to fair value accounting:

July 31, 2013
	CLO Bank Loan Investments
(in thousands)	Total CLO bank loan investments			90 days or more past due			Senior and subordinated note obligations
Unpaid principal balance	$	241,835		$	908		$	311,580
Unpaid principal balance over fair value		(2,166	)		(570	)		(20,405	)
Fair value	$	239,669		$	338		$	291,175

October 31, 2012
	CLO Bank Loan Investments
(in thousands)	Total CLO bank loan investments			90 days or more past due			Senior and subordinated note obligations
Unpaid principal balance	$	425,153		$	500		$	471,546
Unpaid principal balance over fair value		(863	)		(485	)		(24,941	)
Fair value	$	424,290		$	15		$	446,605

During the three months ended July 31, 2013 and 2012, the changes in the fair values of the CLO entity’s bank loans and other investments resulted in net losses of $2.2 million and $1.1 million, respectively, while changes in the fair value of the CLO’s note obligations resulted in net gains of $0.7 million and $8.5 million, respectively. The combined net losses of $1.5 million and net gains of $7.4 million for the three months ended July 31, 2013 and 2012, respectively, were recorded as gains and other investment income, net, of the consolidated CLO entity in the Company’s Consolidated Statement of Income for those periods.

During the nine months ended July 31, 2013 and 2012, the changes in the fair values of the CLO entity’s bank loans and other investments resulted in net gains of $0.3 million and $14.8 million, respectively, while changes in the fair value of the CLO’s note obligations resulted in net losses of $4.5 million and net gains of $0.6

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million, respectively. The combined net losses of $4.2 million and net gains of $15.4 million for the nine months ended July 31, 2013 and 2012, respectively, were recorded as gains and other investment income, net, of the consolidated CLO entity in the Company’s Consolidated Statement of Income for those periods.

Substantially all gains (losses) related to the CLO entity’s bank loans, other investments and note obligations recorded in earnings for the periods were attributable to changes in instrument-specific credit risk.

The CLO entity’s note obligations bear interest at variable rates based on LIBOR plus a pre-defined spread, which ranges from 0.21 percent to 1.50 percent. The principal amounts outstanding of the note obligations issued by the CLO entity mature on April 20, 2019. It is expected that prepayments received will be used to pay down the entity’s note obligations. During the nine months ended July 31, 2013, $159.9 million of prepayments were used to pay down the entity’s note obligations. The holders of a majority of the subordinated notes have the option to liquidate the CLO entity, provided there is sufficient value to repay the senior notes in full.

Interest income and expense are recorded on an accrual basis and reported as gains and other investment income, net and as interest expense in other income (expense) of the consolidated CLO entity in the Company’s Consolidated Statements of Income for the three and nine months ended July 31, 2013 and 2012, respectively.

The following carrying amounts related to the consolidated CLO entity were included in the Company’s Consolidated Balance Sheets at July 31, 2013 and October 31, 2012:

	July 31,		October 31,
(in thousands)	2013		2012
Assets of consolidated CLO entity:
Cash and cash equivalents	$	58,300	$	36,758
Bank loans and other investments		245,991		430,583
Other assets		2,237		1,107
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations		291,175		446,605
Other liabilities		421		766
Appropriated retained earnings		13,107		18,699
Net interest in consolidated CLO entity	$	1,825	$	2,378

The Company had a subordinated interest in the consolidated CLO entity of $1.5 million and $1.9 million as of July 31, 2013 and October 31, 2012, respectively, which was eliminated in consolidation.

For the three months ended July 31, 2013 and 2012, the Company recorded a net loss of $1.3 million and net income of $8.4 million, respectively, related to the consolidated CLO entity. The Company recorded a $2.4 million net loss attributable to other beneficial interests and $7.5 million of net income attributable to other beneficial interests for three months ended July 31, 2013 and 2012, respectively, reflecting the interests of third-party note holders of the consolidated CLO entity. Net income attributable to Eaton Vance Corp. shareholders included $1.0 million and $0.9 million related to the consolidated CLO entity for each of the three months ended July 31, 2013 and 2012, respectively.

For the nine months ended July 31, 2013 and 2012, the Company recorded a net loss of $2.6 million and net income of $18.9 million, respectively, related to the consolidated CLO entity. The Company recorded a $5.6 million net loss attributable to other beneficial interests and $16.4 million of net income attributable to other beneficial interests for the nine months ended July 31, 2013 and 2012, respectively, reflecting the interests of third-party note holders of the consolidated CLO entity. Net income attributable to Eaton Vance Corp.

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shareholders included $2.9 million and $2.5 million related to the consolidated CLO entity for each of the nine months ended July 31, 2013 and 2012, respectively.

Investments in VIEs that are not consolidated

Sponsored funds

The Company classifies its investments in certain sponsored funds that are considered VIEs as either equity method investments (generally when the Company owns more than 20 percent but less than 50 percent of the fund) or as available-for-sale investments (generally when the Company owns less than 20 percent of the fund), when it is not considered the primary beneficiary of those VIEs. The Company has provided aggregated disclosures with respect to these non-consolidated sponsored fund VIEs in Note 5.

Non-consolidated CLO entities

The Company is not deemed the primary beneficiary of several CLO entities in which it holds variable interests. In its role as collateral manager, the Company has the power to direct the activities of the CLO entities that most significantly impact the economic performance of these entities. In developing its conclusion that it is not the primary beneficiary of these entities, the Company determined that, although it has variable interests in each entity by virtue of its residual interests therein and the collateral management fees it receives, its variable interests neither individually nor in the aggregate represent an obligation to absorb losses of or a right to receive benefits from any such entity that could potentially be significant to that entity. Quantitative factors supporting the Company’s qualitative conclusion in each case included the relative size of the Company’s residual interest (in each instance representing less than 6 percent of the residual interest tranche and less than 1 percent of the total capital of the entity) and the overall magnitude and design of the collateral management fees within each structure.

These non-consolidated entities had total assets of $1.8 billion as of July 31, 2013 and October 31, 2012. The Company’s investment in these entities totaled $0.3 million and $0.4 million as of July 31, 2013 and October 31, 2012, respectively, and collateral management fees receivable for these entities totaled $2.1 million and $2.0 million on July 31, 2013 and October 31, 2012, respectively. In the first nine months of fiscal 2013, the Company did not provide any financial or other support to these entities that it was not previously contractually required to provide. The Company’s risk of loss with respect to these entities is limited to the carrying value of its investments in, and collateral management fees receivable from, the CLO entities as of July 31, 2013.

The Company’s investment in non-consolidated CLO entities is carried at amortized cost and is disclosed as a component of investments in Note 5. Income from non-consolidated CLO entities is recorded as a component of gains and other investment income, net, in the Company’s Consolidated Statements of Income, based upon projected investment yields.

Other entities

The Company holds variable interests in, but is not deemed to be the primary beneficiary of, certain sponsored privately offered equity funds with total assets of $9.6 billion and $9.0 billion as of July 31, 2013 and October 31, 2012, respectively. The Company’s variable interests in these entities consist of the Company’s direct ownership in these entities and any investment advisory fees earned but uncollected. The Company held investments in these entities totaling $5.4 million and $4.4 million on July 31, 2013 and October 31, 2012, respectively, and investment advisory fees receivable totaling $0.5 million and $0.4 million on July 31, 2013 and October 31, 2012, respectively. In the first nine months of fiscal 2013, the Company did not provide any financial or other support to these entities that it was not previously contractually required to provide. The Company’s risk of loss with respect to these managed entities is limited to the carrying value of its investments in and investment advisory fees receivable from the entities as of July 31, 2013.

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The Company’s investments in privately offered equity funds are carried at fair value and included in investment securities, available for sale, which are disclosed as a component of investments in Note 5. The Company records any change in fair value, net of income tax, in other comprehensive income (loss).

10.   Acquisitions

The Clifton Group Investment Management Company (“Clifton”)

On December 31, 2012, the Company’s subsidiary, Parametric Portfolio Associates LLC (“Parametric”), acquired Clifton. The operating results of Clifton have been included in the Company’s consolidated statements since that date. Pro forma results of operations have not been presented because the results of operations would not have been materially different from those reported in the accompanying Consolidated Statements of Income. Clifton is a provider of futures- and options-based overlay services and risk management solutions for institutional investors based in Minneapolis, Minnesota. The Clifton acquisition complements and expands the range of engineered portfolio solutions offered by Parametric. The Company paid $72.3 million in cash and issued an indirect ownership interest in Parametric with a fair market value of $12.8 million to certain Clifton principals. These indirect interests are subject to certain put and call arrangements at fair value that may be executed over a five-year period. There are no future contingent payments to be made in connection with the acquisition. Upon closing, Clifton became a division of Parametric.

In conjunction with the purchase, the Company recorded $24.5 million of intangible assets, which consist primarily of client relationship intangible assets acquired. The client relationship intangible assets will be amortized over an eighteen-year period. The Company also recorded goodwill of $60.1 million, which is deductible for tax purposes. During the three months ended July 31, 2013, revenue and earnings from Clifton were $7.2 million and $2.1 million, respectively. During the nine months ended July 31, 2013, revenue and earnings from Clifton were $15.6 million and $4.3 million, respectively.

Tax Advantaged Bond Strategies (“TABS”)

In fiscal 2009, the Company acquired the TABS business of M.D. Sass Investors Services, a privately held investment manager based in New York, New York, for cash and future consideration. During the first quarter of fiscal 2013, the Company made a contingent payment of $14.1 million to the selling group based upon prescribed multiples of TABS’s revenue for the twelve months ended December 31, 2012. The payment increased goodwill by $14.1 million. The Company will be obligated to make three additional annual contingent payments to certain remaining members of the selling group based on prescribed multiples of TABS’s revenue for the twelve months ending December 31, 2014, 2015 and 2016. All future payments will be in cash and will result in an addition to goodwill. These payments are not contingent upon any member of the selling group remaining an employee of the Company.

Parametric

In December 2012, certain non-controlling interest holders of Parametric exercised their final put option pursuant to the terms of the original acquisition agreement requiring the Company to purchase an additional 3.4 percent capital and 5.7 percent profit interest in the entity. The $43.5 million exercise price of the put option was based on a multiple of estimated earnings before taxes for the calendar year ended December 31, 2012. The payment was treated as an equity transaction and reduced redeemable non-controlling interests at closing on December 20, 2012. Indirect profit interests granted to Parametric employees under a long-term equity incentive plan of that entity increased to 4.9 percent on July 31, 2013, reflecting a 0.76 percent profit interest granted on November 1, 2012 under the plan. Indirect capital and profit interests in Parametric held by the principals of Clifton totaled 1.9 percent on July 31, 2013, reflecting indirect interests issued in conjunction with the Clifton acquisition on December 31, 2012. Capital and profit interests in Parametric held by the Company increased to 98.1 percent and 93.3 percent, respectively, on July 31, 2013, reflecting the transactions described above.

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Parametric Risk Advisors LLC (“Parametric Risk Advisors”)

On June 18, 2013, the Company exercised a call option requiring the non-controlling interest holders of Parametric Risk Advisors to sell units representing a 10 percent ownership interest in Parametric Risk Advisors for $3.1 million. Pursuant to the acquisition agreement, the exercise price of the call option was based on a multiple of earnings before interest and taxes for the twelve months ended April 30, 2013. Upon execution of the call option, the Company reduced redeemable non-controlling interests and recorded a liability within other liabilities on the Company’s Consolidated Balance Sheet. The transaction is anticipated to settle on November 1, 2013 and will increase the Company’s ownership interest from 70 percent to 80 percent.

11.   Intangible Assets

The following is a summary of intangible assets at July 31, 2013 and October 31, 2012:

July 31, 2013
(dollars in thousands)	Gross carrying amount		Accumulated amortization			Net carrying amount
Amortizing intangible assets:
Client relationships acquired	$	133,927	$	(65,394	)	$	68,533
Intellectual property acquired		1,000		(174	)		826
Trademark acquired		900		(75	)		825
Non-amortizing intangible assets:
Mutual fund management contract acquired		6,708		-			6,708
Total	$	142,535	$	(65,643	)	$	76,892

October 31, 2012
(dollars in thousands)	Gross carrying amount		Accumulated amortization			Net carrying amount
Amortizing intangible assets:
Client relationships acquired	$	110,327	$	(58,681	)	$	51,646
Intellectual property acquired		1,000		(126	)		874
Non-amortizing intangible assets:
Mutual fund management contract acquired		6,708		-			6,708
Total	$	118,035	$	(58,807	)	$	59,228

Amortization expense was $2.4 million and $2.0 million for the three months ended July 31, 2013 and 2012 and $6.8 million and $6.0 million for the nine months ended July 31, 2013 and 2012, respectively. Estimated remaining amortization expense for the next five fiscal years, on a straight-line basis, is as follows:

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Year Ending October 31,	Estimated Amortization
(in thousands)	Expense
Remaining 2013	$	2,359
2014		9,408
2015		9,183
2016		8,741
2017		8,628
2018		8,188

12.   Debt

Senior Notes

On June 25, 2013, the Company issued $325.0 million in aggregate principal amount of 3.625 percent ten-year senior notes due June 15, 2023 (previously defined as the “2023 Senior Notes”), resulting in net proceeds of approximately $321.3 million after underwriting discounts and transaction fees. Interest is payable semi-annually in arrears on June 15th and December 15th of each year, commencing on December 15th, 2013. The 2023 Senior Notes are unsecured and unsubordinated obligations of the Company.

Tender Offer

On June 14, 2013, the Company announced a tender offer to purchase for cash up to $250.0 million in aggregate principal amount of its outstanding 2017 Senior Notes and ultimately accepted for purchase $250.0 million of the 2017 Senior Notes (“Tendered Notes”) on June 28, 2013. Pursuant to the terms of the Indenture that governs the 2017 Senior Notes, the consideration paid to the holders of the Tendered Notes, which totaled $301.5 million, was calculated as the sum of the present values of the remaining scheduled payments of principal and interest through October 2, 2017, discounted to June 28, 2013 using a reference U.S. Treasury security rate (0.625 percent U.S. Treasury Notes due September 30, 2017) plus 30 basis points. The holders of the Tendered Notes were also paid $3.9 million in interest that accrued from April 2, 2013 (the last interest payment date) through June 28, 2013.

The Company recognized a $52.9 million loss on extinguishment of debt, which includes the tender premium paid ($51.5 million excess of the Consideration Amount over the $250.0 million face amount of the 2017 Senior Notes tendered), acceleration of certain deferred financing costs and original issue discount associated with the Tendered Notes, and transaction costs associated with the tender offer.

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13.   Stock-Based Compensation Plans

The Company recognized total compensation cost related to its stock-based compensation plans as follows:

	Three Months Ended				Nine Months Ended
	July 31,				July 31,
(in thousands)	2013		2012		2013		2012
2008 Plan:
Stock options	$	3,316	$	6,314	$	10,841	$	21,758
Restricted shares		8,102		6,014		24,539		18,021
Phantom stock units		109		67		382		190
Employee Stock Purchase Plan		859		318		1,235		426
Incentive Plan – Stock Alternative		110		25		308		151
Atlanta Capital Plan		352		232		1,055		695
Parametric Plan		823		595		2,468		1,768
Total stock-based compensation expense	$	13,671	$	13,565	$	40,828	$	43,009

The total income tax benefit recognized for stock-based compensation arrangements was $4.4 million and $4.1 million for the three months ended July 31, 2013 and 2012, respectively, and $14.9 million and $13.3 million for the nine months ended July 31, 2013 and 2012, respectively.

2008 Omnibus Incentive Plan (“2008 Plan”)

The 2008 Plan, which is administered by the Compensation Committee of the Board, allows for awards of stock options, restricted shares and phantom stock units to eligible employees and non-employee Directors. A total of 19.8 million shares of Non-Voting Common Stock have been reserved for issuance under the 2008 Plan. Through July 31, 2013, 6.0 million restricted shares and options to purchase 14.5 million shares have been issued pursuant to the 2008 Plan.

Stock Options

The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option valuation model. The Black-Scholes option valuation model incorporates assumptions as to dividend yield, volatility, an appropriate risk-free interest rate and the expected life of the option. Many of these assumptions require management’s judgment. The Company’s stock volatility assumption is based upon its historical stock price fluctuations. The Company uses historical data to estimate option forfeiture rates and the expected term of options granted. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve at the time of grant.

The weighted-average fair value per share of stock options granted during the nine months ended July 31, 2013 and 2012 using the Black-Scholes option pricing model were as follows:

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	2013		2012
Weighted-average grant date fair valueof options granted	$	7.69	$	6.69
Assumptions:
Dividend yield		2.8% to 5.5%		2.9% to 3.1%
Volatility		36% to 37%		35% to 36%
Risk-free interest rate		1.2% to 2.1%		1.0% to 1.6%
Expected life of options		7.1 years		7.2 years

Stock option transactions under the 2008 Plan and predecessor plans for the nine months ended July 31, 2013 are summarized in the below table.

(share and intrinsic value figures in thousands)	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Options outstanding, beginning of period		27,653		$	26.90
Granted		2,271			28.41
Exercised		(4,703	)		21.05
Forfeited/expired		(237	)		29.70
Options outstanding, end of period		24,984		$	28.11		4.9	$	328,574
Options exercisable, end of period		16,114		$	28.98		3.4	$	204,875
Vested or expected to vest		24,629		$	28.13		4.9	$	323,626

The number of shares subject to option and the weighted-average exercise price of options reflected in the table above have been adjusted pursuant to certain anti-dilution provisions of the Company’s 2008 Plan and predecessor plans to reflect the effect of a $1.00 per share special dividend declared and paid in December 2012.

The Company received $94.3 million and $17.1 million related to the exercise of options for the nine months ended July 31, 2013 and 2012, respectively. Options exercised represent newly issued shares. The total intrinsic value of options exercised during the nine months ended July 31, 2013 and 2012 was $66.2 million and $10.4 million, respectively. The total fair value of options that vested during the nine months ended July 31, 2013 was $28.1 million.

As of July 31, 2013, there was $31.4 million of compensation cost related to unvested stock options granted not yet recognized. That cost is expected to be recognized over a weighted-average period of 3.1 years.

Restricted Shares

Compensation expense related to restricted share grants is recorded over the forfeiture period of the restricted shares, as they are contingently forfeitable. As of July 31, 2013, there was $77.7 million of compensation cost related to unvested awards not yet recognized. That cost is expected to be recognized over a weighted-average period of 3.3 years.

A summary of the Company's restricted share activity for the nine months ended July 31, 2013 under the 2008 Plan and predecessor plans is summarized in the below table:

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				Weighted-
				Average
				Grant
				Date Fair
(share figures in thousands)	Shares			Value
Unvested, beginning of period		3,233		$	26.43
Granted		1,625			29.27
Vested		(767	)		26.32
Forfeited		(133	)		27.98
Unvested, end of period		3,958		$	27.60

The total fair value of restricted stock that vested during the nine months ended July 31, 2013 and 2012 was $20.2 million and $12.6 million, respectively.

Phantom Stock Units

In the nine months ended July 31, 2013, 9,565 phantom stock units were issued to non-employee Directors pursuant to the 2008 Plan. Because these units are contingently forfeitable, compensation expense is recorded over the forfeiture period. The total liability paid out associated with phantom stock during the nine months ended July 31, 2013 and 2012 was $0.3 million and $0.2 million, respectively. As of July 31, 2013, there was $0.3 million of compensation cost related to unvested awards not yet recognized. That cost is expected to be recognized over a weighted-average period of 1.1 years.

14.   Common Stock Repurchases

The Company’s current share repurchase program was announced on October 26, 2011. The Board authorized management to repurchase and retire up to 8.0 million shares of its Non-Voting Common Stock on the open market and in private transactions in accordance with applicable securities laws. The timing and amount of share purchases are subject to management’s discretion. The Company’s share repurchase program is not subject to an expiration date.

In the first nine months of fiscal 2013, the Company purchased and retired approximately 1.3 million shares of its Non-Voting Common Stock under the current repurchase authorization. Approximately 2.6 million additional shares may be repurchased under the current authorization.

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15.   Non-operating Income (Expense)

The components of non-operating income (expense) for the three and nine months ended July 31, 2013 and 2012 were as follows:

	Three Months Ended						Nine Months Ended
	July 31,						July 31,
(in thousands)	2013			2012			2013			2012
Non-operating income (expense):
Interest and other income	$	909		$	1,581		$	4,936		$	5,274
Net (losses) gains on investments and derivatives		(8,902	)		106			(2,676	)		7,786
Net foreign currency (losses) gains		(34	)		240			(37	)		(160	)
(Losses) gains and other investment income, net		(8,027	)		1,927			2,223			12,900
Interest expense		(9,167	)		(8,525	)		(26,309	)		(25,350	)
Loss on extinguishment of debt		(52,886	)		-			(52,886	)		-
Other income (expense) of consolidated
CLO entity:
Interest income		3,162			5,469			12,078			16,681
Net (losses) gains on bank loans, other investments and note    obligations		(1,458	)		7,403			(4,197	)		15,366
Gains and other investment income, net		1,704			12,872			7,881			32,047
Interest expense		(2,939	)		(4,399	)		(10,211	)		(12,844	)
Total non-operating (expense) income	$	(71,315	)	$	1,875		$	(79,302	)	$	6,753

16.   Income Taxes

The provision for income taxes was $25.1 million and $34.4 million, or 52.9 percent and 35.5 percent of pre-tax income, for the three months ended July 31, 2013 and 2012, respectively. The provision for income taxes was $99.3 million and $104.7 million, or 40.0 percent and 35.7 percent of pre-tax income, for the nine months ended July 31, 2013 and 2012, respectively. The Company’s tax rate for the three and nine month periods ending July 31, 2013 was increased by 14.1 percent and 2.7 percent, respectively, due to the state tax settlement described below.

The provision for income taxes in the three and nine months ended July 31, 2013 and 2012 is comprised of federal, state, and foreign taxes. The primary difference between the Company’s effective tax rate and the statutory federal rate of 35.0 percent are state income taxes, income and losses recognized by the consolidated CLO entity, other non-controlling interests and the tax benefit of disqualifying dispositions of incentive stock options.

The Company records a valuation allowance when necessary to reduce deferred tax assets to an amount that is more likely than not to be realized. There was no valuation allowance recorded as of July 31, 2013 or October 31, 2012.

The Company is currently under audit by several states. The tax authority of one state previously provided the Company with draft work papers challenging a tax position in the Company’s previously filed tax returns. During the quarter ended July 31, 2013, the tax authority presented the Company with a settlement offer, which the Company accepted and executed on July 30, 2013. The settlement agreement stipulated a lump sum payment of $19.6 million to settle all matters relating to the tax authority's audit of the fiscal years ended

36

October 31, 2004 through October 31, 2009. The $19.6 million payment resulted in a net increase to income tax expense in the third quarter of fiscal 2013 of $6.7 million, equal to the amount of the payment less previously recorded reserves of $9.3 million and a federal tax benefit on the increased state tax of $3.6 million.

17.   Non-controlling and Other Beneficial Interests

Net income attributable to non-controlling and other beneficial interest holders totaled $1.8 million and $12.5 million for the three months ended July 31, 2013 and 2012, respectively, and $21.6 million and $40.0 million for the nine months ended July 31, 2013 and 2012, respectively.

The components of net income attributable to non-controlling and other beneficial interest holders for the three and nine months ended July 31, 2013 and 2012 were as follows:

	Three Months Ended						Nine Months Ended
	July 31,						July 31,
(in thousands)	2013			2012			2013			2012
Consolidated sponsored funds	$	206		$	(839	)	$	(3,886	)	$	(3,167	)
Majority-owned subsidiaries		(4,007	)		(3,354	)		(11,596	)		(10,465	)
Non-controlling interest value adjustments(1)		(405	)		(796	)		(11,718	)		(9,996	)
Consolidated CLO entity		2,359			(7,492	)		5,592			(16,352	)
Net income attributable to non-controlling and other beneficial interests	$	(1,847	)	$	(12,481	)	$	(21,608	)	$	(39,980	)

⁽¹⁾ Relates to non-controlling interests redeemable at other than fair value.

18.   Earnings per Share

The following table sets forth the calculation of earnings per basic and diluted share for the three and nine months ended July 31, 2013 and 2012 using the two-class method:

	Three Months Ended				Nine Months Ended
	July 31,				July 31,
(in thousands, except per share data)	2013		2012		2013		2012
Net income attributable to Eaton Vance Corp. shareholders	$	23,203	$	50,206	$	136,689	$	150,347
Less: Allocation of earnings to participating restricted shares		793		1,423		6,258		4,213
Net income available to common shareholders	$	22,410	$	48,783	$	130,431	$	146,134
Weighted-average shares outstanding – basic		117,594		112,110		116,399		112,354
Incremental common shares		6,278		2,481		5,756		2,677
Weighted-average shares outstanding – diluted		123,872		114,591		122,155		115,031
Earnings per share:
Basic	$	0.19	$	0.44	$	1.12	$	1.30
Diluted	$	0.18	$	0.43	$	1.07	$	1.27

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Antidilutive common shares related to stock options excluded from the computation of earnings per diluted share were approximately 3.0 million and 14.4 million for the three months ended July 31, 2013 and 2012, respectively, and were approximately 3.0 million and 15.0 million for the nine months ended July 31, 2013 and 2012, respectively.

19.   Commitments and Contingencies

In the normal course of business, the Company enters into agreements that include indemnities in favor of third parties, such as engagement letters with advisors and consultants, information technology agreements, distribution agreements and service agreements.  In certain circumstances, these indemnities in favor of third parties relate to service agreements entered into by investment funds managed and/or advised by Eaton Vance Management or Boston Management and Research, both wholly owned subsidiaries of the Company. The Company has also agreed to indemnify its directors, officers and employees in accordance with the Company’s Articles of Incorporation, as amended. Certain agreements do not contain any limits on the Company’s liability and, therefore, it is not possible to estimate the Company’s potential liability under these indemnities. In certain cases, the Company has recourse against third parties with respect to these indemnities. Further, the Company maintains insurance policies that may provide coverage against certain claims under these indemnities.

The Company and its subsidiaries are subject to various legal proceedings. In the opinion of management, after discussions with legal counsel, the ultimate resolution of these matters will not have a material adverse effect on the consolidated financial condition or results of operations of the Company.

In July 2006, the Company committed to invest $15.0 million in a private equity partnership that invests in companies in the financial services industry. The Company has invested $13.9 million of the total $15.0 million of committed capital at July 31, 2013. The Company believes the remaining $1.1 million will likely be invested by March 2015.

The Company has entered into transactions in financial instruments in which it has sold securities, not yet purchased as part of its corporate hedging program. As of July 31, 2013, the Company has $1.6 million included within other liabilities on its Consolidated Balance Sheet related to securities sold, not yet purchased.

20.   Related Party Transactions

Funds

The Company is an investment advisor to, and has administrative agreements with, certain sponsored funds, privately offered equity funds and closed-end funds for which certain employees are officers and/or directors. Substantially all of the services to these entities for which the Company earns a fee, including investment advisory, distribution, shareholder and administrative, are provided under contracts that set forth the services to be provided and the fees to be charged. These contracts are subject to annual review and approval by the funds’ boards of directors or trustees. Revenue for services provided or related to these funds for the three and nine months ended July 31, 2013 and 2012 are as follows:

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	Three Months Ended				Nine Months Ended
	July 31,				July 31,
(in thousands)	2013		2012		2013		2012
Investment advisory and administrative fees	$	214,894	$	183,469	$	608,876	$	555,622
Distribution fees		20,350		19,982		60,268		60,757
Service fees		32,259		30,760		94,521		95,124
Shareholder services fees		752		616		1,840		1,843
Other revenue		442		-		845		-
Total	$	268,697	$	234,827	$	766,350	$	713,346

For the three months ended July 31, 2013 and 2012, the Company had investment advisory agreements with certain sponsored funds pursuant to which the Company contractually waived $2.5 million and $2.1 million of investment advisory fees it was otherwise entitled to receive, respectively. For the nine months ended July 31, 2013 and 2012, the Company waived $6.9 million and $6.7 million, respectively, of investment advisory fees it was otherwise entitled to receive.

Sales proceeds and net realized gains (losses) from investments in sponsored funds classified as available-for-sale for the three and nine months ended July 31, 2013 and 2012 are as follows:

	Three Months Ended					Nine Months Ended
	July 31,					July 31,
(in thousands)	2013		2012			2013		2012
Proceeds from sales	$	2,927	$	16,390		$	42,217	$	56,396
Net realized gains (losses)		180		(189	)		5,431		(65	)

The Company bears the non-advisory expenses of certain sponsored funds for which it earns an all-in management fee and provides subsidies to startup and other smaller sponsored funds to enhance their competitiveness. For the three months ended July 31, 2013 and 2012, expenses of $5.5 million and $5.3 million, respectively, were incurred by the Company pursuant to these arrangements. For the nine months ended July 31, 2013 and 2012, expenses of $16.2 million and $14.0 million, respectively, were incurred by the Company pursuant to these arrangements.

Included in investment advisory fees and other receivables at July 31, 2013 and October 31, 2012 are receivables due from sponsored funds of $92.0 million and $84.4 million, respectively.

Employee Loan Program

The Company has established an Employee Loan Program under which a program maximum of $20.0 million is available for loans to officers (other than executive officers) and other key employees of the Company for purposes of financing the exercise of employee stock options. Loans are written for a seven-year period, at varying fixed interest rates (currently ranging from 0.9 percent to 5.0 percent), are payable in annual installments commencing with the third year in which the loan is outstanding, and are collateralized by the stock issued upon exercise of the option. All loans under the program must be made on or before October 31, 2014. Loans outstanding under the program, which are full recourse in nature, are reflected as notes receivable from stock option exercises in shareholders’ equity and amounted to $6.9 million and $4.2 million at July 31, 2013 and October 31, 2012, respectively.

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Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations

This Item includes statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our expectations, intentions or strategies regarding the future. All statements, other than statements of historical facts, included in this Form 10-Q regarding our financial position, business strategy and other plans and objectives for future operations are forward-looking statements. The terms “may”, “will”, “could”, “anticipate”, “plan”, “continue”, “project”, “intend”, “estimate”, “believe”, “expect” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Although we believe that the assumptions and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that they will prove to have been correct or that we will take any actions that may now be planned. Certain important factors that could cause actual results to differ materially from our expectations are disclosed in the “Risk Factors” section of this Form 10-Q and Item 1A in our latest annual report on Form 10-K. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such factors. We do not assume any obligation to update any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

General

Our principal business is managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. Our core strategy is to develop and sustain management expertise across a range of investment disciplines and to offer leading investment products and services through multiple distribution channels. In executing this strategy, we have developed broadly diversified investment management capabilities and a powerful marketing, distribution and customer service organization. Although we manage and distribute a wide range of investment products and services, we operate in one business segment, namely as an investment adviser to funds and separate accounts.

We are a market leader in a number of investment areas, including value equity, equity income, quality core and growth equity, systematic emerging market equity, floating-rate bank loan, municipal bond, investment grade, global and high-yield bond investing. Through our subsidiary Parametric Portfolio Associates LLC (“Parametric”) we offer a leading range of engineered portfolio implementation services, including tax-managed core and specialty index strategies, futures- and options-based portfolio overlays and centralized portfolio management of multi-manager portfolios. Our breadth of investment management capabilities supports a wide range of products and services offered to fund shareholders, retail managed account investors, institutional investors and high-net-worth clients. Our equity strategies encompass a diversity of investment objectives, risk profiles, income levels and geographic representation. Our income investment strategies cover a broad duration and credit quality range and encompass both taxable and tax-free investments. We offer a range of alternative investment strategies, including commodity-based investments and a spectrum of absolute return strategies. As of July 31, 2013, we had $268.8 billion in assets under management.

Our principal retail marketing strategy is to distribute funds and separately managed accounts through financial intermediaries in the advice channel. We have a broad reach in this marketplace, with distribution partners including national and regional broker-dealers, independent broker-dealers, independent financial advisory firms, banks and insurance companies. We support these distribution partners with a team of approximately 135 sales professionals covering U.S. and international markets.

We also commit significant resources to serving institutional and high-net-worth clients who access investment management services on a direct basis. Through our wholly owned affiliates and consolidated subsidiaries we manage investments for a broad range of clients in the institutional and high-net-worth global marketplace,

40

including corporations, sovereign wealth funds, endowments, foundations, family offices and public and private employee retirement plans.

Our revenue is derived primarily from investment advisory, administrative, distribution and service fees received from Eaton Vance funds and investment advisory fees received from separate accounts. Our fees are based primarily on the value of the investment portfolios we manage and fluctuate with changes in the total value and mix of assets under management. As a matter of course, investors in our sponsored open-end funds and separate accounts have the ability to redeem their shares or investments at any time, without prior notice, and there are no material restrictions that would prevent them from doing so. Our major expenses are employee compensation, distribution-related expenses, facilities expense and information technology expense.

Our discussion and analysis of our financial condition and results of operations is based upon our Consolidated Financial Statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses and related disclosures of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to goodwill and intangible assets, income taxes, investments and stock-based compensation. We base our estimates on historical experience and on various assumptions that we believe to be reasonable under current circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily available from other sources. Actual results may differ from these estimates.

Business Developments

The first nine months of fiscal 2013 was a period of favorable market action, as reflected by the 21.4 percent total return of the S&P 500 Index. Over the last twelve months, the S&P 500 Index has returned 25.0 percent.

The Company’s ending consolidated assets under management increased by $69.2 billion, or 35 percent, in the first nine months of fiscal 2013 to $268.8 billion on July 31, 2013, reflecting the acquisition of The Clifton Group Investment Management Company (“Clifton”) on December 31, 2012, strong net inflows into floating-rate income, alternative and implementation services mandates, and favorable market action. Average consolidated assets under management increased sequentially by $10.2 billion, or 4 percent, to $263.7 billion in the third quarter of fiscal 2013.

The Clifton acquisition, as anticipated, has had a significant impact on both our overall average effective fee rate and our average effective investment advisory and administrative fee rate in the first nine months of fiscal 2013. Upon acquisition, the Clifton business had an average effective fee rate of approximately 7 basis points. The acquisition reduced our overall average effective fee rate to 53 basis points and 54 basis points in the third quarter and first nine months of fiscal 2013, respectively, from 62 basis points in both the third quarter and first nine months of fiscal 2012. Our average effective investment advisory and administrative fee rate similarly decreased to 45 basis points and 46 basis points in the third quarter and first nine months of fiscal 2013, respectively, from 51 basis points in both the third quarter and first nine months of last year. The primary driver of our overall average effective fee rate continues to be the mix of assets by distribution channel and mandate.

Consolidated Assets under Management

Consolidated assets under management of $268.8 billion on July 31, 2013 increased $75.9 billion, or 39 percent, over the $192.9 billion of managed assets reported a year earlier. Consolidated assets under management on July 31, 2013 included $129.0 billion in long-term funds, $89.5 billion in institutional separate accounts, $19.1 billion in high-net-worth separate accounts, $30.9 billion in retail managed accounts and $0.2 billion in cash management fund assets. Long-term fund net inflows of $12.8 billion over the last twelve months reflect gross inflows of $40.6 billion offset by outflows of $27.7 billion. Long-term fund net inflows include $0.1 billion and

41

$0.2 billion raised in the initial public offerings of closed-end funds Eaton Vance Floating-Rate Income Plus Fund and Eaton Vance Municipal Income Term Trust in the third quarter and second quarter of fiscal 2013, respectively. Institutional separate account net inflows were $8.2 billion, high-net-worth separate account net inflows were $1.4 billion and retail managed account net inflows were $0.6 billion over the past twelve months. Clifton assets acquired totaled $34.8 billion and net price appreciation in managed assets increased assets under management by $18.1 billion over the last twelve months.

We report managed assets and flow data by investment mandate. The “Alternative” category includes a range of absolute return strategies, as well as commodity- and currency-linked investments. In fiscal 2013, we added a new category, “Implementation Services,” to reflect the growing importance to our business of Parametric’s tax-managed core, centralized portfolio management and specialty index businesses and the former Clifton Group’s futures- and options-based overlay services.

Consolidated Assets under Management by Investment Mandate ^{(1) (4)}

	July 31,										%
(in millions)	2013		% of Total			2012		% of Total			Change
Equity(2)	$	90,774		34	%	$	80,260		42	%		13	%
Fixed income		45,821		17	%		48,198		25	%		-5	%
Floating-rate income		38,170		14	%		25,245		13	%		51	%
Alternative		16,098		6	%		10,612		5	%		52	%
Implementation services(3)		77,673		29	%		28,323		15	%		174	%
Cash management		219		0	%		220		0	%		0	%
Total	$	268,755		100	%	$	192,858		100	%		39	%

⁽¹⁾ Consolidated Eaton Vance Corp. See table on page 47 for directly managed assets and flows of 49 percent-owned Hexavest Inc.

⁽²⁾ Balances include assets in balanced accounts holding income securities.

⁽³⁾ Balances include amounts reclassified from equity for the prior year period.

⁽⁴⁾ Assets under management for which we estimate fair value are not material to the total value of the assets we manage.

Equity and implementation services assets under management included $61.7 billion and $49.8 billion of assets managed for after-tax returns on July 31, 2013 and 2012, respectively. Fixed income assets included $26.7 billion and $28.9 billion of tax-exempt municipal bond assets on July 31, 2013 and 2012, respectively.

Net inflows totaled $8.8 billion in the third quarter of fiscal 2013 compared to net outflows of $1.4 billion in the third quarter of fiscal 2012. Long-term fund net inflows of $3.7 billion in the third quarter of fiscal 2013 reflect gross inflows of $11.6 billion, net of redemptions of $7.9 billion, as well as the $0.1 billion initial public offering of Eaton Vance Floating-Rate Income Plus Fund. Long-term fund net outflows of $2.3 billion in the third quarter of fiscal 2012 reflect gross inflows of $6.3 billion, net of redemptions of $8.6 billion.

Separate account net inflows totaled $5.2 billion in the third quarter of fiscal 2013, compared to $0.8 billion in the third quarter of fiscal 2012. Institutional separate account net inflows totaled $4.6 billion in the third quarter of fiscal 2013 compared to $0.3 billion in the third quarter of fiscal 2012, reflecting gross inflows of $13.5 billion and $2.3 billion in the third quarter of fiscal 2013 and 2012, respectively, net of redemptions of $8.9 billion and $2.0 billion, respectively. High-net-worth separate account net inflows of $0.4 billion in the third quarter of fiscal 2013 reflect gross inflows of $1.1 billion net of redemptions of $0.6 billion. In the third quarter of fiscal 2012, high-net-worth separate account gross inflows of $0.8 billion were offset by $0.5 billion of gross

42

outflows. Retail managed account net inflows of $0.1 billion in the third quarter of fiscal 2013 reflect gross inflows of $1.9 billion, net of redemptions of $1.8 billion. In the third quarter of fiscal 2012, retail managed account gross inflows of $1.6 billion were offset by gross redemptions of $1.3 billion.

As of July 31, 2013, the Clifton division of Parametric managed $40.7 billion of client assets, an increase of 13 percent from the $36.0 billion of managed assets on April 30, 2013. Net inflows into Clifton-managed funds and accounts were $5.1 billion in the third quarter of fiscal 2013 and have totaled $5.0 billion since the Clifton acquisition closed on December 31, 2013. Clifton managed assets have increased by $5.9 billion, or 17 percent, from $34.8 billion at the date of acquisition. The managed assets and flows of Clifton since the date of acquisition are included in Eaton Vance consolidated totals and are reflected as assets and flows of Parametric.

The following tables summarize our consolidated assets under management and asset flows by investment mandate and investment vehicle for the three and nine months ended July 31, 2013 and 2012:

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Consolidated Net Flows by Investment Mandate⁽¹⁾

	Three Months Ended									Nine Months Ended
	July 31,						%			July 31,						%
(in millions)	2013			2012			Change			2013			2012			Change
Equity assets - beginning of period(2)	$	89,534		$	86,040			4	%	$	80,782		$	84,281			-4	%
Sales and other inflows		4,056			3,551			14	%		13,823			12,743			8	%
Redemptions/outflows		(4,185	)		(6,660	)		-37	%		(14,135	)		(20,132	)		-30	%
Net flows		(129	)		(3,109	)		-96	%		(312	)		(7,389	)		-96	%
Assets acquired(4)		-			-			NM	(3)		1,572			-			NM
Exchanges		46			(19	)		NM			162			(32	)		NM
Market value change		1,323			(2,652	)		NM			8,570			3,400			152	%
Equity assets - end of period	$	90,774		$	80,260			13	%	$	90,774		$	80,260			13	%
Fixed income assets - beginning of period		49,949			46,891			7	%		49,003			43,708			12	%
Sales and other inflows		2,065			2,886			-28	%		8,732			9,139			-4	%
Redemptions/outflows		(3,595	)		(1,973	)		82	%		(10,318	)		(6,702	)		54	%
Net flows		(1,530	)		913			NM			(1,586	)		2,437			NM
Assets acquired(4)		-			-			NM			472			-			NM
Exchanges		(277	)		30			NM			(358	)		70			NM
Market value change		(2,321	)		364			NM			(1,710	)		1,983			NM
Fixed income assets - end of period	$	45,821		$	48,198			-5	%	$	45,821		$	48,198			-5	%
Floating-rate income assets - beginning of period		33,679			24,847			36	%		26,388			24,322			8	%
Sales and other inflows		6,636			2,091			217	%		15,987			5,212			207	%
Redemptions/outflows		(2,152	)		(1,535	)		40	%		(4,664	)		(4,274	)		9	%
Net flows		4,484			556			706	%		11,323			938			NM
Exchanges		169			5			NM			251			24			946	%
Market value change		(162	)		(163	)		-1	%		208			(39	)		NM
Floating-rate income assets - end of period	$	38,170		$	25,245			51	%	$	38,170		$	25,245			51	%
Alternative assets - beginning of period		16,022			10,517			52	%		12,864			10,650			21	%
Sales and other inflows		2,348			1,343			75	%		6,925			3,570			94	%
Redemptions/outflows		(1,770	)		(1,201	)		47	%		(3,785	)		(3,440	)		10	%
Net flows		578			142			307	%		3,140			130			NM
Assets acquired(4)		-			-			NM			650			-			NM
Exchanges		(22	)		(13	)		69	%		(138	)		(74	)		86	%
Market value change		(480	)		(34	)		NM			(418	)		(94	)		345	%
Alternative assets - end of period	$	16,098		$	10,612			52	%	$	16,098		$	10,612			52	%
Implementation services assets - beginning of period  (5)		70,966			28,852			146	%		30,302			24,574			23	%
Sales and other inflows		12,933			1,052			NM			26,663			4,980			435	%
Redemptions/outflows		(7,504	)		(996	)		653	%		(18,396	)		(3,090	)		495	%
Net flows		5,429			56			NM			8,267			1,890			337	%
Assets acquired(4)		-			-			NM			32,064			-			NM
Exchanges		-			-			NM			(14	)		(1	)		NM
Market value change		1,278			(585	)		NM			7,054			1,860			279	%
Implementation services assets - end of period	$	77,673		$	28,323			174	%	$	77,673		$	28,323			174	%
Long-term assets - beginning of period		260,150			197,147			32	%		199,339			187,535			6	%
Sales and other inflows		28,038			10,923			157	%		72,130			35,644			102	%
Redemptions/outflows		(19,206	)		(12,365	)		55	%		(51,298	)		(37,638	)		36	%
Net flows		8,832			(1,442	)		NM			20,832			(1,994	)		NM
Assets acquired(4)		-			-			NM			34,758			-			NM
Exchanges		(84	)		3			NM			(97	)		(13	)		646	%
Market value change		(362	)		(3,070	)		-88	%		13,704			7,110			93	%
Total long-term assets - end of period	$	268,536		$	192,638			39	%	$	268,536		$	192,638			39	%
Cash management fund assets - end of period		219			220			0	%		219			220			0	%
Total assets under management - end of period	$	268,755		$	192,858			39	%	$	268,755		$	192,858			39	%

⁽¹⁾ Consolidated Eaton Vance Corp. See table on page 47 for directly managed assets and flows of 49 percent-owned Hexavest Inc.

⁽²⁾ Balances include assets in balanced accounts holding income securities.

⁽³⁾ Not meaningful ("NM")

⁽⁴⁾ Balances represent Clifton assets acquired on December 31, 2012.

⁽⁵⁾ Balances include amounts reclassified from equity for fiscal 2012.

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Consolidated Net Flows by Investment Vehicle⁽¹⁾

	Three Months Ended									Nine Months Ended
	July 31,						%			July 31,						%
(in millions)	2013			2012			Change			2013			2012			Change
Long-term fund assets - beginning of period	$	127,014		$	114,029			11	%	$	113,249		$	111,705			1	%
Sales and other inflows		11,597			6,266			85	%		33,307			19,819			68	%
Redemptions/outflows		(7,932	)		(8,554	)		-7	%		(21,316	)		(24,483	)		-13	%
Net flows		3,665			(2,288	)		NM			11,991			(4,664	)		NM
Assets acquired(2)		-			-			NM			638			-			NM
Exchanges		(241	)		3			NM			(262	)		(13	)		NM
Market value change		(1,396	)		(1,487	)		-6	%		3,426			3,229			6	%
Long-term fund assets - end of period	$	129,042		$	110,257			17	%	$	129,042		$	110,257			17	%
Institutional separate account assets - beginning of period		84,724			40,883			107	%		43,338			38,003			14	%
Sales and other inflows		13,480			2,262			496	%		28,366			7,347			286	%
Redemptions/outflows		(8,901	)		(1,970	)		352	%		(21,792	)		(6,979	)		212	%
Net flows		4,579			292			NM			6,574			368			NM
Assets acquired(2)		-			-			NM			34,120			-			NM
Exchanges		152			-			NM			157			11			NM
Market value change		18			(890	)		NM			5,284			1,903			178	%
Institutional separate account assets - end of period	$	89,473		$	40,285			122	%	$	89,473		$	40,285			122	%
High-net-worth separate account assets - beginning of period		18,027			14,704			23	%		15,036			13,256			13	%
Sales and other inflows		1,055			752			40	%		3,931			3,110			26	%
Redemptions/outflows		(614	)		(540	)		14	%		(2,385	)		(1,626	)		47	%
Net flows		441			212			108	%		1,546			1,484			4	%
Exchanges		(9	)		-			NM			(16	)		(999	)		-98	%
Market value change		612			(234	)		NM			2,505			941			166	%
High-net-worth separate account assets - end of period	$	19,071		$	14,682			30	%	$	19,071		$	14,682			30	%
Retail managed account assets - beginning of period		30,385			27,531			10	%		27,716			24,571			13	%
Sales and other inflows		1,906			1,643			16	%		6,526			5,368			22	%
Redemptions/outflows		(1,759	)		(1,301	)		35	%		(5,805	)		(4,550	)		28	%
Net flows		147			342			-57	%		721			818			-12	%
Exchanges		14			-			NM			24			988			-98	%
Market value change		404			(459	)		NM			2,489			1,037			140	%
Retail managed account assets - end of period	$	30,950		$	27,414			13	%	$	30,950		$	27,414			13	%
Total long-term assets - beginning of period		260,150			197,147			32	%		199,339			187,535			6	%
Sales and other inflows		28,038			10,923			157	%		72,130			35,644			102	%
Redemptions/outflows		(19,206	)		(12,365	)		55	%		(51,298	)		(37,638	)		36	%
Net flows		8,832			(1,442	)		NM			20,832			(1,994	)		NM
Assets acquired(2)		-			-			NM			34,758			-			NM
Exchanges		(84	)		3			NM			(97	)		(13	)		646	%
Market value change		(362	)		(3,070	)		-88	%		13,704			7,110			93	%
Total long-term assets - end of period	$	268,536		$	192,638			39	%	$	268,536		$	192,638			39	%
Cash management fund assets - end of period		219			220			0	%		219			220			0	%
Total assets under management -  end of period	$	268,755		$	192,858			39	%	$	268,755		$	192,858			39	%

⁽¹⁾ Consolidated Eaton Vance Corp. See page 47 for directly managed assets and flows of 49 percent-owned Hexavest Inc.

⁽²⁾ Balances represent Clifton assets acquired on December 31, 2012.

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The following table summarizes our assets under management by investment affiliate as of July 31, 2013 and 2012:

Consolidated Assets under Management by Investment Affiliate ⁽¹⁾

	July 31,				%
(in millions)	2013		2012		Change
Eaton Vance Management (2)	$	143,229	$	128,953		11	%
Parametric		107,192		49,023		119	%
Atlanta Capital		18,334		14,882		23	%
Total	$	268,755	$	192,858		39	%

⁽¹⁾ Consolidated Eaton Vance Corp. See page 47 for directly managed assets and flows of 49 percent-owned Hexavest Inc.

⁽²⁾ Includes managed assets of wholly owned subsidiaries Eaton Vance Investment Counsel and Fox Asset Management LLC, as well as certain Eaton Vance-sponsored funds and accounts managed by Hexavest and unaffiliated third-party advisors under Eaton Vance supervision.

As of July 31, 2013, 49 percent-owned affiliate Hexavest Inc. (“Hexavest”) managed $15.7 billion of client assets, an increase of 30 percent from the $12.1 billion of managed assets on October 31, 2012. Net inflows into Hexavest-managed funds and separate accounts were $0.5 billion in the third quarter of fiscal 2013. Other than Eaton Vance-sponsored funds for which Hexavest is advisor or sub-advisor, the managed assets of Hexavest are not included in Eaton Vance consolidated totals. The following table summarizes assets under management and asset flow information for Hexavest for the three and nine months ended July 31, 2013:

46

Hexavest Assets under Management and Net Flows

	Three Months Ended			Nine Months Ended
	July 31,			July 31,
(in millions)	2013			2013
Eaton Vance distributed:
Eaton Vance sponsored funds - beginning of period(1)	$	161		$	37
Sales and other inflows		19			130
Redemptions/outflows		(6	)		(12	)
Net flows		13			118
Market value change		(1	)		18
Eaton Vance sponsored funds - end of period	$	173		$	173
Eaton Vance distributed separate accounts - beginning of period(2)	$	1,283		$	-
Sales and other inflows		227			1,378
Redemptions/outflows		(1	)		(1	)
Net flows		226			1,377
Market value change		6			138
Eaton Vance distributed separate accounts - end of period	$	1,515		$	1,515
Total Eaton Vance distributed - beginning of period	$	1,444		$	37
Sales and other inflows		246			1,508
Redemptions/outflows		(7	)		(13	)
Net flows		239			1,495
Market value change		5			156
Total Eaton Vance distributed - end of period	$	1,688		$	1,688
Hexavest directly distributed - beginning of period(3)	$	13,831		$	12,073
Sales and other inflows		785			2,003
Redemptions/outflows		(530	)		(1,363	)
Net flows		255			640
Market value change		(40	)		1,333
Hexavest directly distributed - end of period	$	14,046		$	14,046
Total Hexavest assets - beginning of period	$	15,275		$	12,110
Sales and other inflows		1,031			3,511
Redemptions/outflows		(537	)		(1,376	)
Net flows		494			2,135
Market value change		(35	)		1,489
Total Hexavest assets - end of period	$	15,734		$	15,734

⁽¹⁾ Managed assets and flows of Eaton Vance-sponsored pooled investment vehicles for which Hexavest is advisor or sub-advisor. Eaton Vance receives management and/or distribution revenue on these assets, which are included in the Eaton Vance consolidated results.

⁽²⁾ Managed assets and flows of Eaton Vance-distributed separate accounts managed by Hexavest. Eaton Vance receives distribution revenue, but not management revenue, on these assets, which are not included in the Eaton Vance consolidated results.

⁽³⁾ Managed assets and flows of pre-transaction Hexavest clients and post-transaction Hexavest clients in Canada. Eaton Vance receives no management or distribution revenue on these assets, which are not included in the Eaton Vance consolidated results.

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Consolidated Ending Assets under Management by Asset Class⁽¹⁾

	July 31,
(in millions)	2013		% of Total			2012		% of Total			% Change
Open-end funds:
Class A	$	31,511		12	%	$	29,857		16	%		6	%
Class B		707		0	%		1,031		1	%		-31	%
Class C		9,839		4	%		9,572		5	%		3	%
Class I		40,776		15	%		27,954		14	%		46	%
Class R		345		0	%		321		0	%		7	%
Other(2)		1,067		0	%		792		0	%		35	%
Total open-end funds		84,245		31	%		69,527		36	%		21	%
Private funds(3)		20,736		8	%		17,745		9	%		17	%
Closed-end funds		24,280		9	%		23,205		12	%		5	%
Total fund assets		129,261		48	%		110,477		57	%		17	%
Institutional account assets		89,473		33	%		40,285		21	%		122	%
High-net-worth account assets		19,071		7	%		14,682		8	%		30	%
Retail managed account assets		30,950		12	%		27,414		14	%		13	%
Total separate account assets		139,494		52	%		82,381		43	%		69	%
Total	$	268,755		100	%	$	192,858		100	%		39	%

⁽¹⁾ Consolidated Eaton Vance Corp. See table on page 47 for directly managed assets and flows of 49 percent-owned Hexavest Inc.

⁽²⁾ Includes other classes of Eaton Vance open-end funds.

⁽³⁾ Includes privately offered equity, fixed income and floating-rate bank loan funds and CLO entities.

We currently sell our sponsored open-end mutual funds under four primary pricing structures: front-end load commission (“Class A”); level-load commission (“Class C”); institutional no-load (“Class I”); and retirement plan no-load (“Class R”). We waive the front-end sales load on Class A shares under certain circumstances. In such cases, the shares are sold at net asset value.

Fund assets represented 48 percent of total assets under management on July 31, 2013, down from 57 percent on July 31, 2012, while separate account assets, which include institutional, high-net-worth and retail managed account assets, increased to 52 percent of total assets under management on July 31, 2013 from 43 percent on July 31, 2012. Fund assets under management increased $15.8 billion, or 14 percent, from $113.4 billion on October 31, 2012, reflecting 14 percent annualized internal growth, market appreciation of $3.4 billion and $0.6 billion of managed assets gained from the Clifton acquisition. Separate account assets under management increased $53.4 billion, or 62 percent, from $86.1 billion on October 31, 2012, reflecting $34.1 billion of managed assets gained from the Clifton acquisition, annualized internal growth of 14 percent and market appreciation of $10.3 billion.

Average assets under management presented in the following table represent average month-end amounts by asset class. This table is intended to provide information useful in the analysis of our asset-based revenue and distribution expenses. With the exception of our separate account investment advisory fees, which are generally calculated as a percentage of either beginning, average or ending quarterly assets, our investment advisory, administrative, distribution and service fees, as well as certain expenses, are generally calculated as a percentage of average daily assets.

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Consolidated Average Assets under Management by Asset Class⁽¹⁾

	Three Months Ended							Nine Months Ended
	July 31,				%			July 31,				%
(in millions)	2013		2012		Change			2013		2012		Change
Open-end funds:
Class A	$	31,590	$	30,328		4	%	$	31,184	$	31,674		-2	%
Class B		775		1,063		-27	%		857		1,157		-26	%
Class C		9,935		9,571		4	%		9,844		9,619		2	%
Class I		39,638		28,222		40	%		35,802		27,906		28	%
Class R		336		330		2	%		321		346		-7	%
Other(2)		1,007		609		65	%		820		595		38	%
Total open-end funds		83,281		70,123		19	%		78,828		71,297		11	%
Private funds(3)		20,321		17,805		14	%		19,361		17,795		9	%
Closed-end funds		24,225		23,061		5	%		23,810		23,009		3	%
Total fund assets		127,827		110,989		15	%		121,999		112,101		9	%
Institutional account assets		86,845		40,212		116	%		75,908		39,050		94	%
High-net-worth account assets		18,497		14,468		28	%		17,063		13,698		25	%
Retail managed account assets		30,548		27,154		12	%		29,333		26,544		11	%
Total separate account assets		135,890		81,834		66	%		122,304		79,292		54	%
Total	$	263,717	$	192,823		37	%	$	244,303	$	191,393		28	%

⁽¹⁾ Assets under management attributable to acquisitions that closed during the relevant periods are included on a weighted average basis for the period from their respective closing dates.

⁽²⁾ Includes other classes of Eaton Vance open-end funds.

⁽³⁾ Includes privately offered equity, fixed income and floating-rate bank loan funds and CLO entities.

Results of Operations

In evaluating operating performance, we consider net income attributable to Eaton Vance Corp. shareholders and earnings per diluted share, which are calculated on a basis consistent with U.S. GAAP, as well as adjusted net income attributable to Eaton Vance Corp. shareholders and adjusted earnings per diluted share, both of which are internally derived non-U.S. GAAP performance measures.

We define adjusted net income attributable to Eaton Vance Corp. shareholders and adjusted earnings per diluted share as net income attributable to Eaton Vance Corp. shareholders and earnings per diluted share, respectively, adjusted to exclude changes in the estimated redemption value of non-controlling interests redeemable at other than fair value (“non-controlling interest value adjustments”), closed-end fund structuring fees and other items management deems non-recurring (such as special dividends and losses recognized on the extinguishment of debt) or non-operating in nature. Neither adjusted net income attributable to Eaton Vance Corp. shareholders nor adjusted earnings per diluted share should be construed to be a substitute for, or superior to, net income attributable to Eaton Vance Corp. shareholders nor earnings per diluted share computed in accordance with U.S. GAAP. However, our management and Board of Directors look at these adjusted numbers as a measure of underlying performance, since the excluded items generally do not reflect normal operating performance.

49

The following table provides a reconciliation of net income attributable to Eaton Vance Corp. shareholders and earnings per diluted share to adjusted net income attributable to Eaton Vance Corp. shareholders and adjusted earnings per diluted share, respectively, for the three and nine months ended July 31, 2013 and 2012:

	Three Months Ended							Nine Months Ended
	July 31,				%			July 31,				%
(in thousands, except per share data)	2013		2012		Change			2013		2012		Change
Net income attributable to Eaton Vance Corp. shareholders	$	23,203	$	50,206		-54	%	$	136,689	$	150,347		-9	%
Non-controlling interest value adjustments(1)		405		796		-49	%		11,718		9,996		17	%
Closed-end fund structuring fees, net of tax(2)		1,043		-		NM			2,720		-		NM
Loss on extinguishment of debt, net of tax(3)		35,171		-		NM			35,171		-		NM
Settlement of state tax audit(4)		6,691		-		NM			6,691		-		NM
Adjusted net income attributable to Eaton Vance Corp. shareholders	$	66,513	$	51,002		30	%	$	192,989	$	160,343		20	%
Earnings per diluted share	$	0.18	$	0.43		-58	%	$	1.07	$	1.27		-16	%
Non-controlling interest value adjustments		-		-		NM			0.09		0.08		13	%
Closed-end fund structuring fees, net of tax		0.01		-		NM			0.02		-		NM
Loss on extinguishment of debt, net of tax		0.28		-		NM			0.28		-		NM
Settlement of state tax audit		0.05		-		NM			0.05		-		NM
Special dividend adjustment(5)		-		-		NM			0.02		-		NM
Adjusted earnings per diluted share	$	0.52	$	0.43		21	%	$	1.53	$	1.35		13	%

⁽¹⁾ Please see page 60, "Net Income Attributable to Non-controlling and Other Beneficial Interests," for a further discussion of the non-controlling interest value adjustments referenced above.

⁽²⁾ Closed-end fund structuring fees, net of tax, associated with the initial public offering of Eaton Vance Floating-Rate Income Plus Fund in the third quarter of fiscal 2013 and Eaton Vance Municipal Income Term Trust in the second quarter of fiscal 2013.

⁽³⁾ Reflects the loss on the Company's retirement of $250 million of its outstanding Senior Notes due in 2017. The loss on extinguishment of debt, net of tax, comprises the make-whole provision, acceleration of deferred financing costs and discounts tied to the original issuance, transaction costs associated with the tender offer, the loss recognized on a reverse treasury lock entered into in conjunction with the debt retirement and accelerated amortization of a treasury rate lock tied to the original debt.

⁽⁴⁾ Please see page 59 "Income Taxes" for further discussion of the tax settlement adjustment referenced above.

⁽⁵⁾ Reflects the impact of the special dividend on our earnings per diluted share calculation due to the disproportionate allocation of distributions in excess of earnings to common shareholders under the two-class method.

We reported net income attributable to Eaton Vance Corp. shareholders of $23.2 million, or $0.18 per diluted share, in the third quarter of fiscal 2013 compared to net income attributable to Eaton Vance Corp. shareholders of $50.2 million, or $0.43 per diluted share, in the third quarter of fiscal 2012. We reported adjusted net income attributable to Eaton Vance Corp. shareholders of $66.5 million, or $0.52 per diluted share, in the third quarter of fiscal 2013 compared to adjusted net income attributable to Eaton Vance Corp. shareholders of $51.0 million, or $0.43 per diluted share, in the third quarter of fiscal 2012. The change in net income and adjusted net income attributable to Eaton Vance Corp. shareholders can be primarily attributed to the following:

50

· An increase in revenue of $51.6 million, or 17 percent, primarily due to a 37 percent increase in average assets under management, offset by a decrease in our annualized effective fee rate to 53 basis points in the third quarter of fiscal 2013 from 62 basis points in the third quarter of fiscal 2012 as a result of the Clifton acquisition.

· An increase in expenses of $27.8 million, or 14 percent, reflecting increases in compensation, distribution and service fees, amortization of deferred sales commissions, fund-related expenses and other expenses.

· A $10.0 million decline in gains (losses) and other investment income, net, reflecting a $3.1 million loss on the reverse treasury lock entered into in conjunction with the retirement of the 2017 Senior Notes and markdowns in the value of fixed income securities in the Company’s seed capital portfolio in the third quarter of fiscal 2013.

· A $0.6 million increase in interest expense, reflecting accelerated amortization of the treasury lock tied to the retirement of $250 million of Senior Notes due in 2017 (“2017 Senior Notes”).

· A $52.9 million loss on extinguishment of debt related to the costs incurred on the retirement of the 2017 Senior Notes referenced above.

· A $9.7 million decline in income (expense) of the Company’s consolidated collateralized loan obligation (“CLO”) entity, which can be attributed to a decline in gains and other investment income, offset by a decrease in interest expense.

· A decrease in income taxes of $9.2 million, or 27 percent, reflecting the 51 percent decrease in income before taxes quarter-over-quarter offset by a $6.7 million tax adjustment related to the settlement of a state tax audit during the third quarter of fiscal 2013.

· An increase in equity in net income of affiliates, net of tax, of $2.5 million, primarily reflecting our 49 percent equity interest in Hexavest.

· A $10.6 million decrease in net income attributable to non-controlling and other beneficial interest holders, primarily reflecting the increase in net losses recognized by the Company’s consolidated CLO entity in the third quarter of fiscal 2013 that are allocated to other beneficial interest holders.

Weighted average diluted shares outstanding increased by 9.3 million shares, or 8 percent, in the third quarter of fiscal 2013 over the third quarter of fiscal 2012. The change reflects an increase in the total number of shares outstanding due to the exercise of employee stock options and an increase in the dilutive effect of in-the-money options resulting from a 58 percent increase in the quarterly average share price of the Company’s Non-Voting Common Stock.

We reported net income attributable to Eaton Vance Corp. shareholders of $136.7 million, or $1.07 per diluted share, in the first nine months of fiscal 2013 compared to net income attributable to Eaton Vance Corp. shareholders of $150.3 million, or $1.27 per diluted share, in the first nine months of fiscal 2012. We reported adjusted net income attributable to Eaton Vance Corp. shareholders of $193.0 million, or $1.53 adjusted earnings per diluted share, in the first nine months of fiscal 2013 compared to adjusted net income attributable to Eaton Vance Corp. shareholders of $160.3 million, or $1.35 adjusted earnings per diluted share, in the first nine months of fiscal 2012. The change in net income and adjusted net income attributable to Eaton Vance Corp. shareholders can be primarily attributed to the following:

· An increase in revenue of $101.4 million, or 11 percent, primarily due to a 28 percent increase in average assets under management offset by a decrease in our annualized effective fee rate to 54 basis points in the first nine months of fiscal 2013 from 62 basis points in the first nine months of fiscal 2012 as a result of the Clifton acquisition.

· An increase in expenses of $60.5 million, or 10 percent, reflecting increases in compensation, distribution and service fees, fund-related expenses and other expenses offset by reduced amortization of deferred sales commissions.

· A decrease of $10.7 million, or 83 percent, in (losses) gains and other investment income, net, reflecting a $3.1 million loss recognized on the reverse treasury lock entered into in conjunction with the

51

retirement of $250 million of our 2017 Senior Notes during the third quarter of fiscal 2013 and a decline in investment gains and income recognized on our seed capital investments.

· A $1.0 million increase in interest expense reflecting the accelerated amortization of the treasury lock tied to the retirement of the 2017 Senior Notes referenced above.

· A $52.9 million loss on extinguishment of debt related to the costs incurred on the retirement of the 2017 Senior Notes referenced above.

· A $21.5 million decline in other expense of the Company’s consolidated CLO entity, reflecting lower gains recognized by the entity in the first nine months of fiscal 2013.

· A decrease in income taxes of $5.5 million, or 5 percent, reflecting the 15 percent decrease in income before taxes, offset by a $6.7 million tax adjustment related to the settlement of a state tax audit during the third quarter of fiscal 2013.

· An increase in equity in net income of affiliates, net of tax, of $7.6 million reflecting our 49 percent equity interest in Hexavest and an increase in the Company’s proportionate net interest in earnings of sponsored funds accounted for under the equity method of accounting.

· A decrease in net income attributable to non-controlling and other beneficial interest holders of $18.4 million, primarily reflecting a decrease in the net gains recognized by the Company’s consolidated CLO entity that are borne by other beneficial interest holders, partially offset by an increase in the annual adjustment made to the estimated redemption value of non-controlling interests in the Company’s majority-owned subsidiaries and an increase in net income attributable to non-controlling interest holders in the Company’s consolidated funds.

Weighted average diluted shares outstanding increased by 7.1 million shares, or 6 percent, in the first nine months of fiscal 2013 over the first nine months of fiscal 2012. The change reflects an increase in the total number of shares outstanding due to the exercise of employee stock options and an increase in the dilutive effect of in-the-money options resulting from a 44 percent increase in the average share price of the Company’s Non-Voting Common Stock.

Revenue

Our overall average effective fee rate (total revenue, excluding other revenue, as a percentage of average assets under management) was 53 basis points and 54 basis points in the third quarter and first nine months of fiscal 2013, respectively, compared to 62 basis points in both the third quarter and first nine months of fiscal 2012. As noted above, the decrease in our overall average effective fee rate can be primarily attributed to the acquisition of Clifton, whose business operates at a significantly lower average effective fee rate.

The following table shows our investment advisory and administrative fees, distribution and underwriter fees, service fees and other revenue for the three and nine months ended July 31, 2013 and 2012:

	Three Months Ended							Nine Months Ended
	July 31,				%			July 31,				%
(in thousands)	2013		2012		Change			2013		2012		Change
Investment advisory and administrative fees	$	293,589	$	244,655		20	%	$	833,791	$	732,995		14	%
Distribution and underwriter fees		22,681		22,066		3	%		67,597		67,132		1	%
Service fees		32,259		30,760		5	%		94,521		95,124		-1	%
Other revenue		1,832		1,290		42	%		4,661		3,896		20	%
Total revenue	$	350,361	$	298,771		17	%	$	1,000,570	$	899,147		11	%

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Investment advisory and administrative fees

Investment advisory and administrative fees are determined by contractual agreements with our sponsored funds and separate accounts, and are generally based upon a percentage of the market value of assets under management. Net asset flows and changes in the market value of managed assets affect the amount of managed assets on which investment advisory and administrative fees are earned, while changes in asset mix among different investment mandates and products affect our average effective fee rate. Investment advisory and administrative fees represented 84 percent and 83 percent of total revenue in the third quarter and first nine months of fiscal 2013, respectively, compared to 82 percent in the third quarter and first nine months of fiscal 2012.

The increase in investment advisory and administrative fees of 20 percent, or $48.9 million, in the third quarter of fiscal 2013 from the same period a year earlier can be primarily attributed to the 37 percent increase in average assets under management, offset by lower effective fee rates due primarily to a shift in product mix resulting from the Clifton acquisition. Fund assets, which had an average effective fee rate of 67 basis points in the third quarter of fiscal 2013 and 66 basis points in the third quarter 2012, decreased to 48 percent of total assets under management on July 31, 2013 from 57 percent of total assets under management on July 31, 2012, while separately managed account assets, which had an average effective fee rate of 23 basis points in the third quarter of fiscal 2013 and 30 basis points in the third quarter of fiscal 2012, increased to 52 percent of total assets under management on July 31, 2013 from 43 percent of total assets under management on July 31, 2012.

The increase in investment advisory and administrative fees of 14 percent, or $100.8 million, in the first nine months of fiscal 2013 over the same period a year earlier can be primarily attributed to the 28 percent increase in average assets under management, offset by lower effective fee rates due primarily to the shift in product mix discussed above. Fund assets had an effective fee rate of 67 basis points in the nine months ended July 31, 2013 and 66 basis points in the nine months ended July 31, 2012, while separately managed account assets had an average effective fee rate of 25 basis points and 30 basis points in the nine months ended July 31, 2013 and 2012, respectively.

Distribution and underwriter fees

Distribution plan payments, which are made under contractual agreements with certain share classes of our sponsored funds and private funds, are calculated as a percentage of average assets under management. These fees fluctuate with both the level of average assets under management and the relative mix of assets. Underwriter commissions are earned on the sale of shares of our sponsored mutual funds on which investors pay a sales charge at the time of purchase (Class A share sales). Sales charges and underwriter commissions are waived or reduced on shareholder purchases that exceed specified minimum amounts and on certain categories of investors. Underwriter commissions fluctuate with the level of Class A share sales and the mix of Class A shares sold with and without sales charges.

Distribution plan payments increased 2 percent, or $0.4 million, to $20.4 million in the third quarter of fiscal 2013 from the same period a year earlier, reflecting increases in average Class A, Class C and Class R fund distribution fees, offset by a decrease in average Class B and private fund distribution fees.

Distribution plan payments decreased 1 percent, or $0.5 million, to $60.3 million in the first nine months of fiscal 2013 from the same period a year earlier, reflecting decreases in average Class B, Class R and private fund distribution fees, offset by an increase in average Class A and Class C distribution fees.

The following table shows the total distribution payments with respect to our Class A, Class B, Class C, Class R and private funds for the three and nine months ended July 31, 2013 and 2012:

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	Three Months Ended							Nine Months Ended
	July 31,				%			July 31,				%
(in thousands)	2013		2012		Change			2013		2012		Change
Class A	$	308	$	168		83	%	$	778	$	489		59	%
Class B		1,256		1,769		-29	%		4,210		5,785		-27	%
Class C		17,683		16,922		4	%		51,961		50,828		2	%
Class R		213		204		4	%		599		642		-7	%
Private funds		890		920		-3	%		2,720		3,013		-10	%
Total distribution plan payments	$	20,350	$	19,983		2	%	$	60,268	$	60,757		-1	%

Underwriter fees and other distribution income increased to $2.3 million in the third quarter of fiscal 2013, an increase of 12 percent or $0.2 million over the third quarter of fiscal 2012, primarily reflecting an increase of $0.3 million in contingent deferred sales charges received on certain Class A share redemptions.

Underwriter fees and other distribution income increased to $7.3 million in the first nine months of fiscal 2013, an increase of 15 percent, or $1.0 million, over the same period a year earlier, primarily reflecting an increase of $0.2 million in underwriter fees received on sales of Class A shares and an increase of $0.6 million in contingent deferred sales charges received on certain Class A share redemptions.

Service fees

Service fees, which are paid to Eaton Vance Distributors, Inc. (“EVD”) pursuant to distribution or service plans adopted by our sponsored mutual funds, are calculated as a percent of average assets under management in certain mutual fund share classes (principally Classes A, B, C and R). Certain private funds also make service fee payments to EVD. Service fees are paid to EVD as principal underwriter or placement agent to the funds for service and/or the maintenance of shareholder accounts.

Service fee revenue increased 5 percent, or $1.5 million, to $32.3 million in the third quarter of fiscal 2013 from the same period a year earlier, primarily reflecting a 5 percent increase in average assets under management in funds and classes of funds subject to service fees.

Service fee revenue decreased 1 percent, or $0.6 million, to $94.5 million in the first nine months of fiscal 2013 from the same period a year earlier, primarily reflecting a 1 percent decrease in average assets under management in funds and classes of funds subject to service fees.

Other revenue

Other revenue, which consists primarily of sub-transfer agent fees, miscellaneous dealer income, custody fees, revenue related to Hexavest, and sublease income increased by $0.5 million and $0.8 million in the third quarter and first nine months of fiscal 2013, respectively, from the same periods a year ago, primarily reflecting an increase in revenue related to Hexavest.

Expenses

Operating expenses increased by 14 percent, or $27.8 million, in the third quarter of fiscal 2013 from the same period a year earlier and by 10 percent, or $60.5 million, in the first nine months of fiscal 2013 from the same period a year earlier, reflecting increases in compensation, distribution and service fees, fund-related and other expenses, offset by reduced amortization of deferred sales commissions as more fully described below.

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The following table shows our operating expenses for the three and nine months ended July 31, 2013 and 2012:

	Three Months Ended							Nine Months Ended
	July 31,				%			July 31,				%
(in thousands)	2013		2012		Change			2013		2012		Change
Compensation and related costs:
Cash compensation	$	101,708	$	81,135		25	%	$	293,392	$	245,940		19	%
Stock-based compensation		13,671		13,565		1	%		40,828		43,009		-5	%
Total compensation and related costs		115,379		94,700		22	%		334,220		288,949		16	%
Distribution expense		35,452		32,670		9	%		104,645		97,958		7	%
Service fee expense		29,013		28,165		3	%		86,488		84,926		2	%
Amortization of deferred sales commissions		4,983		4,593		8	%		14,518		15,946		-9	%
Fund-related expenses		8,230		7,205		14	%		23,728		20,446		16	%
Other expenses		38,454		36,422		6	%		109,371		104,275		5	%
Total expenses	$	231,511	$	203,755		14	%	$	672,970	$	612,500		10	%

Compensation and related costs

Compensation expense increased by 22 percent, or $20.7 million, in the third quarter of fiscal 2013 from the same quarter a year earlier, reflecting increases in sales- and operating income-based incentives, increases in base salaries and benefits, and increases in other compensation.

Compensation expense increased by 16 percent, or $45.3 million, in the first nine months of fiscal 2013 from the same period a year earlier, reflecting increases in sales- and operating income-based incentives and increases in base salaries and benefits, offset by decreases in stock-based compensation and other compensation.

The following table shows our compensation and related costs for the three and nine months ended July 31, 2013 and 2012:

	Three Months Ended							Nine Months Ended
	July 31,				%			July 31,				%
(in thousands)	2013		2012		Change			2013		2012		Change
Base salaries and employee benefits	$	47,730	$	41,746		14	%	$	140,227	$	125,498		12	%
Stock-based compensation		13,671		13,565		1	%		40,828		43,009		-5	%
Operating income-based incentives		36,022		27,654		30	%		99,167		82,438		20	%
Sales and revenue-based incentives		17,080		11,090		54	%		50,528		33,852		49	%
Other compensation expense		876		645		36	%		3,470		4,152		-16	%
Total	$	115,379	$	94,700		22	%	$	334,220	$	288,949		16	%

Base salaries and employee benefits increased by 14 percent, or $6.0 million, in the third quarter of fiscal 2013, primarily reflecting the Clifton acquisition, an increase in base compensation associated with higher headcount and annual merit increases, and increases in employee benefits and payroll taxes. Operating-income based incentives increased by 30 percent, or $8.4 million, primarily reflecting a 24 percent increase in pre-bonus adjusted operating income and the impact of the Clifton acquisition. Sales and revenue-based incentives

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increased by 54 percent, or $6.0 million, primarily due to the 157 percent increase in gross sales and other inflows. Other compensation expense increased by 36 percent, or $0.2 million, reflecting higher severance costs and sign-on bonuses.

Base salaries and employee benefits increased by 12 percent, or $14.7 million, in the first nine months of fiscal 2013, primarily reflecting the Clifton acquisition, an increase in base compensation associated with higher headcount and annual merit increases, and increases in employee benefits and payroll taxes. Operating-income based incentives increased by 20 percent, or $16.7 million, primarily reflecting a 14 percent increase in pre-bonus adjusted operating income and the impact of the Clifton acquisition. Sales and revenue-based incentives increased by 49 percent, or $16.7 million, primarily due to the 102 percent increase in gross sales and other inflows reflecting strong retail sales. Stock-based compensation decreased by 5 percent, or $2.2 million, reflecting revised retirement terms of newly granted employee stock options. Other compensation expense decreased by 16 percent, or $0.7 million, reflecting lower severance costs and sign-on bonuses.

Distribution expense

Distribution expense consists primarily of commissions paid to broker-dealers on the sale of Class A shares at net asset value, ongoing asset-based payments made to distribution partners pursuant to third-party distribution arrangements for certain Class C share and closed-end funds, marketing support payments to distribution partners and other discretionary marketing expenses.

The following table shows our distribution expense for the three and nine months ended July 31, 2013 and 2012:

	Three Months Ended							Nine Months Ended
	July 31,				%			July 31,				%
(in thousands)	2013		2012		Change			2013		2012		Change
Class A share commissions	$	1,240	$	936		32	%	$	5,453	$	3,772		45	%
Class C share distribution fees		13,836		13,914		-1	%		41,201		41,339		0	%
Closed-end fund structuring fees		1,688		-		NM			4,401		-		NM
Closed-end fund dealer compensation payments		4,515		4,234		7	%		13,173		12,637		4	%
Intermediary marketing support payments		10,328		8,937		16	%		29,458		27,625		7	%
Discretionary marketing expenses		3,845		4,649		-17	%		10,959		12,585		-13	%
Total	$	35,452	$	32,670		9	%	$	104,645	$	97,958		7	%

Class A share commissions increased by 32 percent, or $0.3 million, in the third quarter of fiscal 2013 reflecting an increase in Class A fund sales on which we pay a commission. Class C share distribution fees decreased by 1 percent, or $0.1 million, reflecting a decrease in Class C share assets held more than one year on which those fees are based. The $1.7 million in closed-end fund structuring fees are associated with the initial public offering of Eaton Vance Floating-Rate Income Plus Fund in the third quarter of 2013. Closed-end fund dealer compensation payments increased 7 percent, or $0.3 million, reflecting an increase in average assets under management subject to those arrangements. Marketing expenses associated with intermediary marketing support payments to distribution partners increased by 16 percent, or $1.4 million, reflecting increases in average assets subject to those arrangements. Discretionary marketing expenses decreased by 17 percent, or $0.8 million, primarily reflecting a decrease in the use of outside marketing consultants.

Class A share commissions increased by 45 percent, or $1.7 million, in the first nine months of fiscal 2013 reflecting an increase in Class A fund sales on which we pay a commission. Class C share distribution fees remained substantially unchanged at $41.2 million. The $4.4 million in closed-end fund structuring fees paid in

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the first nine months of fiscal 2013 are associated with the initial public offering of Eaton Vance Floating-Rate Income Plus Fund and Eaton Vance Municipal Income Term Trust during the period. Closed-end fund dealer compensation payments increased 4 percent, or $0.5 million, reflecting an increase in average assets under management subject to those arrangements. Marketing expenses associated with intermediary marketing support payments to distribution partners increased by 7 percent, or $1.8 million, reflecting increases in average assets subject to those arrangements. Discretionary marketing expenses decreased by 13 percent, or $1.6 million, primarily reflecting a decrease in the use of outside marketing consultants.

Service fee expense

Service fees we receive from sponsored funds are generally retained in the first year and paid to broker/dealers thereafter pursuant to third-party service arrangements. These fees are calculated as a percent of average assets under management in certain share classes of our mutual funds (principally Classes A, B, C and R), as well as certain private funds. Service fee expense increased by 3 percent, or $0.8 million, in the third quarter of fiscal 2013 from the same quarter a year earlier, reflecting an increase in average fund assets retained more than one year in funds and share classes that are subject to service fees. Service fee expense increased by 2 percent, or $1.6 million, in the first nine months of fiscal 2013 from the same period a year earlier, also reflecting an increase in average fund assets retained more than one year in funds and share classes that are subject to service fees.

Amortization of deferred sales commissions

Amortization expense is affected by ongoing sales and redemptions of mutual fund Class C shares and certain private funds, and redemptions of Class B shares. Amortization expense increased 8 percent, or $0.4 million, in the third quarter of fiscal 2013 from the same period a year earlier, reflecting an increase in Class C shares, offset by a decrease in average Class B shares and private fund deferred sales commissions. In the third quarter of fiscal 2013, 79 percent of total amortization related to Class C shares, 16 percent to Class B shares and 5 percent to private funds. In the third quarter of fiscal 2012, 61 percent of total amortization related to Class C shares, 27 percent to Class B shares and 12 percent to private funds.

Amortization expense decreased 9 percent, or $1.4 million, in the first nine months of fiscal 2013 compared to the same period a year earlier, reflecting a decrease in average Class B share and private fund deferred sales commissions offset by an increase in Class C shares.

Fund-related expenses

Fund-related expenses consist primarily of fees paid to sub-advisors, compliance costs and other fund-related expenses we incur. Fund-related expenses increased 14 percent, or $1.0 million, in the third quarter of fiscal 2013 from the same period a year earlier, primarily reflecting increases in sub-advisory fees paid and $0.3 million of fund-related costs incurred in conjunction with the launch of Eaton Vance Floating-Rate Income Plus Fund in the third quarter of fiscal 2013, offset by a decrease in fund subsidies. Fund-related expenses increased 16 percent or $3.3 million, in the first nine months of fiscal 2013 over the same period a year earlier due to increased non-advisory expenses borne by us on certain funds for which we are paid an all-in management fee, an increase in sub-advisory fees paid, and $0.6 million of fund-related costs incurred in conjunction with the launch of the closed-end funds during fiscal 2013.

Other expenses

Other expenses consist primarily of travel, facilities, information technology, professional services, communications and other miscellaneous corporate expenses, including the amortization of intangible assets.

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The following table shows our other expense for the three and nine months ended July 31, 2013 and 2012:

	Three Months Ended							Nine Months Ended
	July 31,				%			July 31,				%
(in thousands)	2013		2012		Change			2013		2012		Change
Travel	$	3,871	$	3,472		11	%	$	10,701	$	9,618		11	%
Communications		1,420		1,382		3	%		4,031		3,951		2	%
Information technology		14,774		12,144		22	%		40,909		34,703		18	%
Professional services		3,095		3,939		-21	%		8,737		10,146		-14	%
Facilities-related		10,106		11,025		-8	%		29,744		32,523		-9	%
Other corporate expense		5,188		4,460		16	%		15,249		13,334		14	%
Total	$	38,454	$	36,422		6	%	$	109,371	$	104,275		5	%

Other expenses increased by 6 percent, or $2.0 million, in the third quarter of fiscal 2013 from the same period a year earlier, primarily reflecting increases in information technology expense of $2.6 million, other corporate expenses of $0.7 million, and travel expenses of $0.4 million, offset by decreases in facilities-related expenses of $0.9 million and professional services of $0.8 million. The increase in information technology expense can be attributed to increases in outside custody and other back office services, other information technology consulting expenses, software license expense and system maintenance and repairs. The increase in other corporate expenses reflects an increase in other corporate taxes, the amortization of intangible assets related to the Clifton acquisition and charitable giving. The increase in travel expense relates to an overall increase in travel. The decrease in facilities-related expenses can be primarily attributed to a decrease in depreciation expense and general rent expense. The decrease in professional services expense can be attributed to decreases in external legal costs and general corporate consulting.

Other expenses increased by 5 percent, or $5.1 million, in the first nine months of fiscal 2013 from the same period a year earlier, primarily reflecting increases in information technology expense of $6.2 million, other corporate expenses of $1.9 million and travel expense of $1.1 million, offset by decreases in facilities-related expenses of $2.8 million and professional services of $1.4 million. The increase in information technology expense can be attributed to increases in system maintenance and repairs, outside custody and other back office services, other information technology consulting expenses and software license costs associated with budgeted technology projects. The increase in other corporate expenses reflects an increase in charitable giving, other corporate taxes and the amortization of intangible assets related to the Clifton acquisition, offset by a decrease in general corporate banking fees. The higher travel expense can be attributed to an increase in travel. The decrease in facilities-related expenses can be primarily attributed to a decrease in depreciation expense. The decrease in professional services expense can be attributed to decreases in external legal costs.

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Non-operating Income (Expense)

	Three Months Ended									Nine Months Ended
	July 31,						%			July 31,						%
(in thousands)	2013			2012			Change			2013			2012			Change
(Losses) gains and other investment income, net	$	(8,027	)	$	1,927			NM		$	2,223		$	12,900			-83	%
Interest expense		(9,167	)		(8,525	)		8	%		(26,309	)		(25,350	)		4	%
Loss on extinguishment of debt		(52,886	)		-			NM			(52,886	)		-			NM
Other income (expense) of consolidated CLO entity:
Gains and other investment income, net		1,704			12,872			-87	%		7,881			32,047			-75	%
Interest expense		(2,939	)		(4,399	)		-33	%		(10,211	)		(12,844	)		-20	%
Total non-operating (expense)  income	$	(71,315	)	$	1,875			NM		$	(79,302	)	$	6,753			NM

(Losses) gains and other investment income, net, declined $10.0 million in the third quarter of fiscal 2013 compared to the same period a year ago, primarily reflecting a loss of $3.1 million recognized in the third quarter of fiscal 2013 on a reverse treasury lock entered into in conjunction with the retirement of the 2017 Senior Notes and markdowns in fixed income positions in our seed capital portfolio. (Losses) gains and other investment income, net, declined 83 percent in the first nine months of fiscal 2013 compared to the same period a year ago for the same reasons as described above. In the first nine months of fiscal 2012, we recognized $2.4 million of investment gains related to the April 2011 sale of our equity interest in Lloyd George Management, representing additional settlement payments received during the first quarter of fiscal 2012.

Interest expense increased for both the three- and- nine- month periods, reflecting accelerated amortization on a treasury lock tied to the retired portion of the 2017 Senior Notes.

Loss on extinguishment of debt of $52.9 million in both the three- and- nine- months ended July 31, 2013 comprises the tender premium associated with the retirement of $250 million of the 2017 Senior Notes, acceleration of certain deferred financing costs and discounts tied to the retired portion of the 2017 Senior Notes and transaction costs associated with the debt retirement.

Net income (loss) of our consolidated CLO entity totaled ($1.3) million and ($2.6) million in the third quarter and first nine months of fiscal 2013, representing ($1.2) million and ($2.3) million of other income (loss) and $0.1 million and $0.3 million of other operating expenses, respectively. ($2.4) million and $5.6 million of consolidated CLO entity net income (loss) was included in net income attributable to non-controlling and other beneficial interests, reflecting third-party note holders’ proportionate interests in the net income (loss) of the entity in the third quarter and first nine months of fiscal 2013, respectively. $1.0 million and $2.9 million for the third quarter and first nine months of fiscal 2013, respectively, was included in net income attributable to Eaton Vance Corp. shareholders, representing the management fees earned and the Company’s proportionate interest in the net income (loss) of the entity.

Income Taxes

Our effective tax rate calculated as income taxes as a percentage of income before income taxes and equity in net income of affiliates was 52.9 percent and 40.0 percent in the third quarter and first nine months of fiscal 2013, respectively, compared to 35.5 percent and 35.7 percent in the third quarter and first nine months of fiscal

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2012. During the third quarter of fiscal 2013, we received a settlement offer from one state to resolve all matters relating to the tax authority’s audit of our fiscal years 2004 through 2009 for a lump sum payment of $19.6 million. We accepted the offer and made payment on July 30, 2013. The $19.6 million payment resulted in a net increase to income tax expense of $6.7 million, equal to the amount of the payment less previously recorded reserves of $9.3 million and a federal tax benefit on the increased state tax of $3.6 million. Excluding the effect of the consolidated CLO entity net income (loss) allocated to other beneficial interest holders and the impact of the one-time tax settlement, our effective tax rate would have been 37.1 percent and 36.5 percent in the third quarter and first nine months of fiscal 2013, respectively.

Our policy for accounting for income taxes includes monitoring our business activities and tax policies for compliance with federal, state and foreign tax laws. In the ordinary course of business, various taxing authorities may not agree with certain tax positions we have taken, or applicable law may not be clear. We periodically review these tax positions and provide for and adjust as necessary estimated liabilities relating to such positions as part of our overall tax provision.

Equity in Net Income of Affiliates, Net of Tax

Equity in net income of affiliates, net of tax, for the third quarter of fiscal 2013 primarily reflects our 49 percent equity interest in Hexavest, a 7 percent minority equity interest in a private equity partnership and equity interests in funds we sponsor, notably Eaton Vance Focused Growth Opportunities Fund, Eaton Vance Focused Value Opportunities Fund, Eaton Vance Municipal Opportunities Fund, Eaton Vance Atlanta Capital Select Equity Fund, Eaton Vance Real Estate Fund, Eaton Vance Tax-Advantaged Bond Strategies Long-Term Fund and Eaton Vance Hexavest Global Equity Fund. Equity in net income of affiliates, net of tax, increased $2.5 million in the third quarter of fiscal 2013 versus the same quarter a year earlier primarily due to the inclusion of our 49 percent equity interest in Hexavest, offset by a decrease in the Company’s proportionate net interest in the earnings of sponsored funds. Equity in net income of affiliates, net of tax, increased by $7.6 million in the first nine months of fiscal 2013 from the same period a year earlier, due to the inclusion of our 49 percent equity interest in Hexavest and an increase in the Company’s proportionate net interest in the earnings of sponsored funds.

Net Income Attributable to Non-controlling and Other Beneficial Interests

Net income attributable to non-controlling and other beneficial interests decreased by $10.6 million in the third quarter of fiscal 2013 from the same period a year earlier, reflecting a $9.9 million decrease in net income attributable to other beneficial interest holders of the Company’s consolidated CLO entity, a $0.4 million decrease in non-controlling interest value adjustments related to our majority-owned subsidiaries, a $1.0 million decrease in net income attributable to non-controlling interest holders in the Company’s consolidated funds, offset by a $0.7 million increase in net income attributable to non-controlling interest holders in our majority-owned subsidiaries.

Net income attributable to non-controlling and other beneficial interests decreased by $18.4 million in the first nine months of fiscal 2013 from the same period a year earlier, reflecting a $21.9 million decrease in net income attributable to other beneficial interest holders of the Company’s consolidated CLO entity, offset by a $1.7 million increase in non-controlling interest value adjustments related to our majority-owned subsidiaries, primarily related to Parametric and Parametric Risk Advisors, a $0.7 million increase in net income attributable to non-controlling interest holders in the Company’s consolidated funds and a $1.1 million increase in net income attributable to non-controlling interest holders in our majority-owned subsidiaries.

Net income attributable to non-controlling and other beneficial interests is not adjusted for taxes due to the underlying tax status of our consolidated subsidiaries. Parametric, Parametric Risk Advisors and Atlanta Capital Management Company LLC (“Atlanta Capital”) are limited liability companies that are treated as partnerships

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for tax purposes. Funds and the CLO entity we consolidate are registered investment companies or private funds that are treated as pass-through entities for tax purposes.

Changes in Financial Condition, Liquidity and Capital Resources

The assets and liabilities of our consolidated CLO entity do not affect our liquidity or capital resources. The collateral assets of our consolidated CLO entity are held solely to satisfy the obligations of the CLO entity and we have no right to these assets beyond our direct investment in and management fees generated from the entity, both of which are eliminated in consolidation. The note holders of the CLO entity have no recourse to the general credit of the Company. As a result, the assets and liabilities of our consolidated CLO entity are excluded from the discussion of liquidity and capital resources below.

The following table summarizes certain key financial data relating to our liquidity and capital resources on July 31, 2013 and October 31, 2012 and uses of cash for the nine months ended July 31, 2013 and 2012.

Balance Sheet and Cash Flow Data
	July 31,		October 31,
(in thousands)	2013		2012
Balance sheet data:
Assets:
Cash and cash equivalents	$	379,414	$	462,076
Investment advisory fees and other receivables		161,237		133,589
Total liquid assets	$	540,651	$	595,665
Investments	$	545,474	$	486,933
Liabilities:
Debt	$	573,460	$	500,000

	Nine Months Ended
	July 31,
(in thousands)	2013			2012
Cash flow data:
Operating cash flows	$	(229	)	$	144,788
Investing cash flows		165,207			55,258
Financing cash flows		(246,879	)		(110,558	)

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Liquidity and Capital Resources

Liquid assets consist of cash and cash equivalents and investment advisory fees and other receivables. Cash and cash equivalents consist of cash and short-term, highly liquid investments that are readily convertible to cash. Investment advisory fees and other receivables primarily represent receivables due from sponsored funds and separately managed accounts for investment advisory and distribution services provided. Liquid assets represented 34 percent and 39 percent of total assets attributable to Eaton Vance Corp. shareholders on July 31, 2013 and October 31, 2012, respectively, excluding those assets identified as assets of the consolidated CLO entity. The Company’s seed investments in consolidated funds and separate accounts are not treated as liquid assets because they may be longer term in nature.

The $55.0 million decrease in liquid assets in the first nine months of fiscal 2013 primarily reflects the payment of $191.3 million in regular and special dividends to shareholders, the repurchase of $48.2 million of non-voting common stock, net cash paid for acquisitions of $86.4 million, the payment of $43.5 million to acquire interests in Parametric and the $19.6 million tax settlement payment, partially offset by proceeds received from the issuance of non-voting common stock of $99.9 million, net proceeds from the sale of available securities of $70.7 million, net proceeds of $18.0 million from the issuance of the Senior Notes due 2023 (“2023 Senior Notes”) and the retirement of a portion of the 2017 Senior Notes, net inflows into consolidated funds from non-controlling interest holders of $59.9 million and $25.5 million reflecting the impact of our consolidated CLO entity’s investing and financing activities.

On June 25, 2013, we issued $325.0 million in new ten-year Senior Notes due 2023 with a coupon of 3.625 percent. The proceeds of the offering were used primarily to purchase $250.0 million in aggregate principal amount of our 6.5 percent Senior Notes due 2017. The Company paid $305.4 million to retire the 6.5 percent Senior Notes due 2017, which included an early tender premium and accrued and unpaid interest. Executing these transactions enabled us to tranche out the maturity of our debt, with $250.0 million now due in 2017 and $325.0 million due in 2023.

On July 31, 2013, our debt consisted of $250.0 million in aggregate principal amount of 6.5 percent Senior Notes due 2017 and $325.0 million in aggregate principal amount of 3.625 percent Senior Notes due 2023. We also maintain a $300.0 million unsecured revolving credit facility with several banks that expires on June 4, 2015. The facility provides that we may borrow at LIBOR-based rates of interest that vary depending on the level of usage of the facility and our credit ratings. The agreement contains financial covenants with respect to leverage and interest coverage and requires us to pay an annual commitment fee on any unused portion. We had no borrowings under our revolving credit facility at July 31, 2013 or at any point during the first nine months of fiscal 2013. We were in compliance with all debt covenants as of July 31, 2013.

We continue to monitor our liquidity daily. We remain committed to growing our business and expect that our main uses of cash will be to invest in new products, acquire shares of our Non-Voting Common Stock, pay dividends, make strategic acquisitions, enhance technology infrastructure and pay the operating expenses of the business, which are largely variable in nature and fluctuate with revenue and assets under management. We believe that our existing liquid assets, cash flows from operations and borrowing capacity under our existing credit facility are sufficient to meet our current and forecasted operating cash needs and to satisfy our future commitments as more fully described in Contractual Obligations below. The risk exists, however, that if we determine we need to raise additional capital or refinance existing debt in the future, resources may not be available to us in sufficient amounts or on acceptable terms. Our ability to enter the capital markets in a timely manner depends on a number of factors, including the state of global credit and equity markets, interest rates, credit spreads and our credit ratings. If we are unable to access capital markets to issue new debt, refinance existing debt or sell shares of our Non-Voting Common Stock as needed, or if we are unable to obtain such financing on acceptable terms, our business could be adversely impacted.

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Recoverability of our Investments

Our $545.5 million of investments as of July 31, 2013 consisted of our 49 percent equity interest in Hexavest and positions in Eaton Vance-managed funds and separate accounts entered into for investment and business development purposes and certain investments held directly by the Company. Investments in Eaton Vance-managed funds and separate accounts and direct investments made by the Company are generally in liquid debt or equity securities and are carried at fair market value. We test our investments, excluding our equity method investments but including our investments in non-consolidated CLO entities and investments classified as available-for-sale, for impairment on a quarterly basis. We evaluate our investments in non-consolidated CLO entities and investments classified as available-for-sale for impairment using quantitative factors, including how long the investment has been in a net unrealized loss position, and qualitative factors, including the underlying credit quality of the issuer and our ability and intent to hold the investment. If markets deteriorate during the quarters ahead, our assessment of impairment on a quantitative basis may lead us to impair investments that were in an unrealized loss position at July 31, 2013.

We test our investments in equity method investees, goodwill and indefinite-lived intangible assets in the fourth quarter of each fiscal year and as facts and circumstances indicate that additional analysis is warranted. There have been no significant changes in financial condition in the first nine months of fiscal 2013 that would indicate that an impairment loss exists at July 31, 2013.

We periodically review our deferred sales commissions and identifiable intangible assets for impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. There have been no significant changes in financial condition in the first nine months of fiscal 2013 that would indicate that an impairment loss exists at July 31, 2013.

Operating Cash Flows

Our operating cash flows are calculated by adjusting net income to reflect other significant sources and uses of cash, certain significant non-cash items and timing differences in the cash settlement of other assets and liabilities. Significant sources and uses of cash that are not reflected in either revenue or operating expenses include net cash flows associated with our deferred sales commission assets (capitalized sales commissions paid net of contingent deferred sales charges received) as well as net cash flows associated with the purchase and sale of investments within the portfolios of our consolidated funds and separate accounts (proceeds received from the sale of trading investments net of cash outflows associated with the purchase of trading investments). Significant non-cash items include the amortization of deferred sales commissions and other intangible assets, depreciation, stock-based compensation and the net change in deferred income taxes.

Cash used for operating activities totaled $0.2 million in the first nine months of fiscal 2013, a decrease of $145.0 million from $144.8 million of cash provided by operating activities in the first nine months of fiscal 2012. The decrease in net cash used for operating activities year-over-year primarily reflects a net decrease of $185.6 million related to timing differences in the cash settlement of other assets and liabilities which mainly resulted from an increase in investments in trading securities, offset by an increase of $16.3 million related to the operating activities of our consolidated CLO entity. Cash used for operating activities in the nine months ended July 31, 2013 reflects the lump sum payment of $19.6 million to resolve matters relating to a state tax audit.

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Investing Cash Flows

Cash flows from investing activities consist primarily of the purchase of equipment and leasehold improvements, cash paid in acquisitions and the purchase and sale of available-for-sale investments in sponsored funds that we do not consolidate.

Cash provided by investing activities totaled $165.2 million in the first nine months of fiscal 2013 compared to $55.3 million in the first nine months of fiscal 2012. The increase in cash provided by investing activities year-over-year can be primarily attributed to an increase of $19.7 million in net proceeds from the sale of available for sale securities and a $165.7 million increase in net proceeds from the sale and maturities of investments within our consolidated CLO entity, offset by our acquisition of Clifton for $72.3 million and an increase of $1.8 million in the contingent payment to the sellers of TABS under the terms of the 2008 acquisition agreement.

Financing Cash Flows

Financing cash flows primarily reflect distributions to non-controlling interest holders of our majority-owned subsidiaries and consolidated funds, the purchase of additional non-controlling interests in our majority-owned subsidiaries, the issuance and repurchase of our Non-Voting Common Stock, excess tax benefits associated with stock option exercises, the payment of dividends to our shareholders and the proceeds and payments associated with the Company’s debt. Financing cash flows also include proceeds from the issuance of capital stock by consolidated investment companies and cash paid to meet redemptions by non-controlling interest holders of these funds.

Cash used for financing activities totaled $246.9 million in the first nine months of fiscal 2013 compared to $110.6 million in the first nine months of fiscal 2012. In the first nine months of fiscal 2013 we paid $43.5 million to acquire additional interests in our majority-owned subsidiary, Parametric and we repurchased and retired a total of 1.3 million shares of our Non-Voting Common Stock for $48.2 million under our authorized repurchase programs and issued 6.4 million shares of our Non-Voting Common Stock in connection with the grant of restricted share awards, the exercise of stock options and other employee stock purchases for total proceeds of $99.9 million. We have authorization to purchase an additional 2.6 million shares under our current share repurchase authorization and anticipate that future repurchases will continue to be an ongoing use of cash. Our dividends per share were $1.60 in the first nine months of fiscal 2013, including a special one-time dividend of $1.00 per share declared and paid in December 2012, compared to $0.57 per share in the first nine months of fiscal 2012. We currently expect to declare and pay comparable regular dividends on our Voting and Non-Voting Common Stock on a quarterly basis. Cash used for financing also included $159.9 million in principal payments made on senior notes within our consolidated CLO entity.

In June 2013 we issued $325.0 million in aggregate principal amount of 3.625 percent Senior Notes due 2023. In conjunction with the offering we paid approximately $3.0 million in debt offering costs that will be amortized over the life of the notes and recognized as a component of interest expense.

In June 2013 the Company retired $250.0 million principal amount of its outstanding 6.5 percent Senior Notes due 2017, subject to a tender premium of $51.5 million.

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Contractual Obligations

The following table details our future contractual obligations as of July 31, 2013:

	Payments due
			Less
			than 1		1-3		4-5		After 5
(in millions)	Total		Year		Years		Years		Years
Operating leases – facilities and equipment(1)	$	381	$	21	$	40	$	38	$	282
Senior notes		575		-		-		250		325
Interest payments on senior notes		191		28		56		48		59
Payments to non-controlling interest holders of majority-owned subsidiaries		3		3		-		-		-
Investment in private equity partnership		1		-		1		-		-
Unrecognized tax benefits(2)		1		-		1		-		-
Total	$	1,152	$	52	$	98	$	336	$	666
Contractual obligations of consolidated CLO:
Senior and subordinated note obligations	$	311	$	-	$	-	$	-	$	311
Interest payments on senior notes		11		2		4		4		1
Total contractual obligations of consolidated CLO	$	322	$	2	$	4	$	4	$	312

⁽¹⁾ Minimum payments have not been reduced by minimum sublease rentals of $2.5 million due in the future under noncancelable subleases.

⁽²⁾ This amount includes unrecognized tax benefits along with accrued interest and penalties.

In July 2006, we committed to invest up to $15.0 million in a private equity partnership that invests in companies in the financial services industry. We had invested $13.9 million of the $15.0 million commitment as of July 31, 2013. The remaining commitment is included in the table above.

Interests held by non-controlling interest holders of Parametric Risk Advisors and Atlanta Capital are not subject to mandatory redemption. The purchase of non-controlling interests is predicated, for each subsidiary, on the exercise of a series of puts held by non-controlling interest holders and calls held by us. Neither the exercise of the puts nor the exercise of the calls is contingent upon the non-controlling interest holders of the acquired entities remaining employed by the Company. The puts provide the non-controlling interest holders the right to require us to purchase these retained interests at specific intervals over time, while the calls provide us with the right to require the non-controlling interest holders to sell their retained equity interests to us at specified intervals over time, as well as upon the occurrence of certain events such as death or permanent disability. As a result, there is significant uncertainty as to the timing of any non-controlling interest purchase in the future. The value assigned to the purchase of an originating non-controlling interest is based, in each case, on a multiple of earnings before interest and taxes of the subsidiary, which is a measure that is intended to represent fair market value. There is no discrete floor or ceiling on any non-controlling interest purchase. As a result, there is significant uncertainty as to the amount of any non-controlling interest purchase in the future. Accordingly, future payments to be made to purchase non-controlling interests have been excluded from the above table, unless a put or call option has been exercised and a mandatory firm commitment exists for us to purchase such non-controlling interests. Although the timing and amounts of these purchases cannot be

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predicted with certainty, we anticipate that the purchase of non-controlling interests in our consolidated subsidiaries may be a significant use of cash in future years.

We have presented all redeemable non-controlling interests at redemption value on our Consolidated Balance Sheet as of July 31, 2013. We have recorded the current quarter change in the estimated redemption value of non-controlling interests redeemable at fair value as a component of additional paid-in capital and have recorded the current quarter change in the estimated redemption value of non-controlling interests redeemable at other than fair value as a component of net income attributable to non-controlling and other beneficial interests. Based on our calculations, the estimated redemption value of our non-controlling interests, redeemable at either fair value or other than fair value, totaled $97.1 million on July 31, 2013 compared to $98.8 million on October 31, 2012.

Redeemable non-controlling interests as of July 31, 2013 consist of third-party investors’ ownership in consolidated investment funds of $35.3 million, non-controlling interests in Parametric Risk Advisors and Atlanta Capital redeemable at other than fair value of $6.1 million and $32.1 million, respectively, non-controlling interests in Parametric redeemable at fair value and issued in conjunction with the Clifton acquisition of $13.9 million and redeemable interests in profit interests granted under subsidiary-specific long-term incentive plans of Parametric and Atlanta Capital of $4.3 million and $5.2 million, respectively. Redeemable non-controlling interests as of October 31, 2012 consist of third-party investors’ ownership in consolidated investment funds of $20.1 million, non-controlling interests in Parametric, Parametric Risk Advisors and Atlanta Capital redeemable at other than fair value of $33.7 million, $8.7 million and $32.1 million, respectively, and redeemable interests in profit interests granted under subsidiary-specific long-term incentive plans of Parametric and Atlanta Capital of $2.0 million and $2.2 million, respectively.

Related to its acquisition of the TABS business in December 2008, the Company is obligated to make three further annual contingent payments based on prescribed multiples of TABS’s revenue for the twelve months ending December 31, 2014, 2015 and 2016. There is no defined floor or ceiling on such payments, resulting in significant uncertainty as to the amount of any payment in the future. Accordingly, future payments to be made have been excluded from the above table until such time as the uncertainty has been resolved. The Company made a contingent payment of $14.1 million with respect to the twelve months ended December 31, 2012 in the first quarter of fiscal 2013.

In December 2012, certain non-controlling interest holders of Parametric exercised their final put option pursuant to the terms of the original acquisition agreement requiring the Company to purchase an additional 3.4 percent capital and 5.7 percent profit interest in the entity. The $43.5 million exercise price of the put option was based on a multiple of estimated earnings before taxes for the calendar year ended December 31, 2012. The payment was treated as an equity transaction and reduced redeemable non-controlling interests at closing on December 20, 2012. Indirect profit interests granted to Parametric’s employees under a long-term equity incentive plan of that entity increased to 4.9 percent at July 31, 2013, reflecting a 0.76 percent profit interest granted on November 1, 2012 under the plan. Indirect capital and profit interests in Parametric held by the principals of Clifton totaled 1.9 percent on July 31, 2013, reflecting indirect interests issued in conjunction with the Clifton acquisition on December 31, 2012. Capital and profit interests in Parametric held by the Company increased to 98.1 percent and 93.3 percent, respectively, on July 31, 2013, reflecting the transactions described above.

Profit interests held by non-controlling interest holders in Atlanta Capital, which include direct profit interests as well as indirect profit interests granted as part of a long-term equity incentive plan of that entity, increased to 19.7 percent on April 30, 2013 from 18.1 percent on October 31, 2012, reflecting an additional 1.6 percent profit interest granted on November 1, 2012 under the long-term equity plan.

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The Company will be obligated to make additional payments in respect of the acquired interest in Hexavest in fiscal 2013 and 2014 if Hexavest exceeds defined annual revenue thresholds in the first and second twelve-month periods following the closing, respectively. We have the option to acquire an additional 26 percent interest in Hexavest in 2017. There is no defined floor or ceiling on any payment, resulting in significant uncertainty as to the amount of any payment in the future. Accordingly, future payments to be made have been excluded from the above table until such time as the uncertainty has been resolved. Although the amounts of these payments cannot be predicted with certainty, we anticipate they may be a significant use of cash in future years.

In June 2013, the Company exercised a call option requiring the non-controlling interest holders of Parametric Risk Advisors to sell an additional interest in Parametric Risk Advisors for $3.1 million. The transaction will increase our ownership interest from 70 percent to 80 percent when the transaction closes on November 1, 2013. Upon execution of the call, redeemable non-controlling interests were reduced and a liability was established within other liabilities on the Company’s Consolidated Balance Sheet.

Foreign Subsidiaries

We consider the undistributed earnings of our Canadian subsidiary as of July 31, 2013 to be indefinitely re-invested. Accordingly, no U.S. income taxes have been provided thereon. As of July 31, 2013 the Company had approximately $9.0 million of undistributed earnings in our Canadian subsidiary that are not available to fund domestic operations or to distribute to shareholders unless repatriated. The Company would need to accrue and pay U.S. corporate income taxes if such funds were repatriated. The Company’s current plans do not demonstrate a need to repatriate these funds.

Off-Balance Sheet Arrangements

We do not invest in any off-balance sheet vehicles that provide financing, liquidity, market or credit risk support or engage in any leasing activities that expose us to any liability that is not reflected in our Consolidated Financial Statements.

Critical Accounting Policies

There have been no updates to our critical accounting policies from those disclosed in Management’s Discussion and Analysis of Financial Condition in our Form 10-K for the fiscal year ended October 31, 2012.

Accounting Developments

Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss or a Tax Credit Carryforward Exists

In July 2013, the Financial Accounting Standards Board (“FASB”) issued new guidance requiring an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for any net operating loss carryforward, similar tax loss or tax credit carryforward unless such tax loss or credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes resulting from the disallowance of a tax position. In the event that the tax position is disallowed or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit shall be presented in the financial statements as a liability and shall not be combined with deferred tax assets. The new guidance will be effective for the Company on November 1, 2014. The Company does not anticipate that the adoption of the new guidance will have a material impact on the Company’s consolidated financial statements.

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Investment Companies

In June 2013, the FASB issued a final standard amending the current criteria for an entity to qualify as an investment company, creating new disclosure requirements and amending the measurement criteria for certain interests in other investment companies. The Company is evaluating the impact of this amendment and will adopt the new guidance on November 1, 2015.

Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity

In March 2013, the FASB issued new guidance on reporting a cumulative translation adjustment (“CTA”) with respect to foreign currency. The new guidance addresses the accounting for a CTA when a parent either sells a part of or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. The Company is evaluating the impact of this change and will adopt the new guidance on November 1, 2014.

Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income

In February 2013, the FASB issued new guidance on reporting amounts reclassified out of accumulated other comprehensive income (“AOCI”). The new guidance does not change the requirements for reporting net income or other comprehensive income in the financial statements, but requires new footnote disclosures regarding the reclassification of AOCI by component into net income. The Company will implement the new disclosure requirements in the first quarter of fiscal 2014.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

The following is an update to Part II., “Item 7A- Quantitative and Qualitative Disclosures About Market Risk” contained in our Form 10-K for the year ended October 31, 2012.

We are required to maintain cash collateral for margin accounts established to support certain derivative positions and securities sold short, not yet purchased. Our initial margin requirements are currently equal to five percent of the initial notional value of the associated stock index futures and commodity futures contracts. Additional margin requirements include daily posting of variation margin equal to the daily change in the position value and 150 percent of the underlying value of securities sold, not yet purchased. We do not have a collateral requirement related to foreign currency forward contracts. Cash collateral supporting margin requirements is classified as restricted cash and is included as a component of other assets on the Company’s Consolidated Balance Sheets.

Item 4. Controls and Procedures

We evaluated the effectiveness of our disclosure controls and procedures as of July 31, 2013. Disclosure controls and procedures are designed to ensure that the information we are required to disclose in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time period specified in the SEC’s rule and forms. Disclosure controls and procedures include, without limitation, controls and procedures accumulated and communicated to our management, including our Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), to allow timely decisions regarding required disclosure. Our CEO and CFO participated in this evaluation and concluded that, as of the date of their evaluation, our disclosure controls and procedures were effective.

In the ordinary course of business, the Company may routinely modify, upgrade and enhance its internal controls and procedures for financial reporting. However, there have been no changes in our internal control over financial reporting as defined by Rule 13a-15(f) under the Exchange Act that occurred during our most recently completed fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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Part II - Other Information

Item 1. Legal Proceedings

There have been no material developments in litigation previously reported in our SEC filings.

Item 1A. Risk Factors

The following is an update to Part I, “Item 1A- Risk Factors” contained in our Form 10-K for the year ended October 31, 2012.

Our Non-Voting Common Stock lacks voting rights. Non-Voting Common Stock has no voting rights under any circumstances; all voting power resides with the Voting Common Stock. All outstanding shares of the Company’s Voting Common Stock are held by officers of the Company and its subsidiaries, and are deposited in a voting trust (the “Voting Trust”) in exchange for Voting Trust Receipts. As of July 31, 2013, there were 19 holders of Voting Trust Receipts, each of whom is a Voting Trustee of the Voting Trust, which has a term that expires on October 31, 2013. The Voting Trust Agreement provides that each Voting Trustee shall have one vote and act by a majority if there are six or more Voting Trustees. The Voting Trust Agreement provides the Voting Trustees with unrestricted voting rights, except that the Voting Trustees are prohibited from voting in favor of the sale, mortgage or pledge of all or substantially all of the Company’s assets, any change in the capital structure or powers of the Company in connection with a merger, consolidation, reorganization or dissolution of the Company, the termination of the Voting Trust, the addition of a Voting Trustee, the removal of a Voting Trustee by the other Voting Trustees or the renewal of the term of the Voting Trust without the written consent of the holders of Voting Trust Receipts representing at least a majority of Voting Common Stock subject at the time to the Voting Trust Agreement.

We are subject to substantial competition in all aspects of our investment management business. Our funds and separate accounts compete against a large number of investment products and services sold to the public by investment management companies, investment dealers, banks, insurance companies and others. Many institutions we compete with have greater financial resources than us and there are few barriers to entry. We compete with these firms on the basis of investment performance, diversity of products, distribution capability, scope and quality of services, reputation and the ability to develop new investment strategies and products to meet the changing needs of investors. To the extent that current or potential customers decide to invest in products sponsored by our competitors, the sales of our products as well as our market share, revenue and net income could decline.

The investment management industry is highly competitive and investment management customers are increasingly fee sensitive. In the event that competitors charge lower fees for substantially similar products, we may be forced to compete on the basis of price in order to attract and retain customers. Rules and regulations applicable to investment companies provide, in substance, that each investment advisory agreement between a fund and its investment adviser continues in effect from year to year only if its continuation is approved at least annually by the fund’s board of trustees. Periodic review of fund advisory agreements could result in pressure on the Company’s advisory fee revenues from funds. Fee reductions on existing or future business and/or the impact of evolving industry fee structures could have an adverse impact on both our future revenue and profitability.

Our assets under management, which impact revenue, are subject to significant fluctuations. Our major sources of revenue, including investment advisory, administrative, distribution and service fees, are generally calculated as percentages of assets under management. Fee rates for our investment products generally vary by investment mandate (e.g., equity, fixed income, floating-rate income, alternative or implementation services) and vehicle (e.g., fund or separate account). A change in asset mix by mandate or vehicle, independent of our

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level of assets under management, may result in a decrease in our overall effective fee rate, thereby reducing our revenue and net income. Any decrease in the level of our assets under management due to a decline in securities prices, a decline in the sales of our investment products or an increase in fund redemptions or client withdrawals generally would also reduce our revenue and net income. Adverse market conditions and/or lack of investor confidence could result in investors withdrawing from the markets or decreasing their rate of investment, either of which could adversely affect our revenue, earnings and growth prospects.

To the extent that we receive fee revenue from assets under management that is derived from financial leverage, any reduction in leverage (i.e., financing used by the investment vehicle to increase the investable assets of the vehicle) would adversely impact the level of our assets under management, revenue and net income. Leverage could be reduced due to an adverse change in interest rates, a decrease in the availability of credit on favorable terms or a determination by us to reduce or eliminate leverage on certain products when we determine that the use of leverage is no longer in our clients’ best interests.

Poor investment performance of our products could affect our sales or reduce the amount of assets under management, negatively impacting revenue and net income. Investment performance is critical to our success. Poor investment performance on an absolute basis or as compared to third-party benchmarks or competitor products could lead to a decrease in sales and stimulate higher redemptions, thereby lowering the amount of assets under management and reducing the investment advisory fees we earn. A decline in investment performance of any investment franchise could have a material adverse effect on the level of assets under management, revenue and net income of that franchise. Past or present performance in the investment products we manage is not indicative of future performance.

Failure to maintain adequate business continuity plans could have a material adverse impact on us and our products. Significant portions of our business operations and those of our critical third-party service providers are concentrated in a few geographic areas, including Boston, Massachusetts and Seattle, Washington. Critical operations that are geographically concentrated in Boston, Massachusetts include trading operations, information technology, fund administration, and custody and portfolio accounting services for the Company’s products. Should we, or our critical service providers, experience a significant local or regional disaster or other business continuity problem, our continued success will depend, in part, on the safety and availability of our personnel, our office facilities, and the proper functioning of our computer, telecommunication and other related systems and operations. The failure by us, or our critical service providers, to maintain updated adequate business continuity plans, including backup facilities, could impede our ability to operate in the event of a disruption, which could cause our earnings to decline. We have developed various backup systems and contingency plans but we cannot be assured that they will be adequate in all circumstances that could arise or that material interruptions and disruptions will not occur. In addition, we rely to varying degrees on outside vendors for disaster contingency support, and we cannot be assured that these vendors will be able to perform in an adequate and timely manner. If we, or our critical service providers, are unable to respond adequately to such an event in a timely manner, we may be unable to continue our business operations, which could lead to a damaged reputation and loss of customers that results in a decrease in assets under management, lower revenues and reduced net income.

Legal and regulatory developments in the mutual fund and investment advisory industry could increase our regulatory burden, cause a loss of mutual fund investors, and reduce our revenues. In recent years, regulators in both the United States and abroad have increased oversight of the financial sector of the economy. Some of the newly adopted and proposed regulations are focused directly on the investment management industry, while others are more broadly focused but impact our industry.

In July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) was signed into law. The Dodd-Frank act established enhanced regulatory requirements for non-bank financial institutions designated as “systemically important” by the Financial Stability Oversight Council (“FSOC”). Under this new

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systemic risk regulation regime, the Company could be designated a systemically important financial institution (“SIFI”). If the Company were designated a SIFI by FSOC, it could be subject to enhanced prudential measures including capital and liquidity requirements, leverage limits, enhanced public disclosures and risk management requirements, supervisory and other requirements, which, individually or in the aggregate, could adversely impact the Company’s business and operations. Additional regulatory guidance is needed in order to determine whether or not the Company would be designated a SIFI. Due to the broad scope of the Dodd-Frank Act, we are not able to predict all of the specific requirements to which a SIFI would be subject.

In February 2012, the Commodity Futures Trading Commission (“CFTC”) adopted certain amendments to existing rules that required additional registration for our mutual funds and certain other products we sponsor to use futures, swaps or other derivatives without additional registration. Eaton Vance Management and Boston Management and Research, both subsidiaries of the Company, as registered entities, registered as Commodity Pool Operators as of January 1, 2013. The Company may incur ongoing costs associated with complying with the periodic reporting requirements of Commodity Pool Operators.

Global regulations on over-the-counter (“OTC”) derivatives are evolving, including proposed rules under the Dodd-Frank Act relating to central clearing counterparties, trade reporting and repositories. There is uncertainty related to the requirements under these new regulations and the extent to which they will impact current trading strategies.

These new laws and regulations will likely result in greater compliance and administrative burdens on us, increasing our expenses.

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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The table below sets forth information regarding purchases of our Non-Voting Common Stock on a monthly basis during the third quarter of fiscal 2013:

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

Period	(a) Total Number of Shares Purchased		(b) Average price paid per share		(c) Total Number of Shares Purchased of Publicly Announced Plans or Programs(1)		(d) Maximum Number of Shares that May Yet Be Purchased under the Plans or Programs
May 1, 2013 through
May 31, 2013		359	$	40.38		359		3,247,874
June 1, 2013 through
June 30, 2013		219,600	$	38.25		219,600		3,028,274
July 1, 2013 through
July 31, 2013		429,254	$	39.66		429,254		2,599,020
Total		649,213	$	39.18		649,213		2,599,020

⁽¹⁾ We announced a share repurchase program on October 26, 2011, which authorized the repurchase of up to 8,000,000 shares of our Non-Voting Common Stock in the open market and in private transactions in accordance with applicable securities laws. This repurchase plan is not subject to a termination date.

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Item 6. Exhibits

(a) Exhibits

Exhibit No.	Description
31.1	Certification of Chief Executive Officer
31.2	Certification of Chief Financial Officer
32.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101	Materials from the Eaton Vance Corp. Quarterly Report on Form 10-Q for the quarter ended July 31, 2013, formatted in Extensible Business Reporting Language (XBRL): (i) Consolidated Balance Sheets, (ii) Consolidated Statements of Income, (iii) Consolidated Statements of Comprehensive Income, (iv) Consolidated Statements of Stockholders’ Equity, (v) Consolidated Statements of Cash Flows, and (vi) related Notes to the Consolidated Financial Statements, tagged in detail (furnished herewith).

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Signatures

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	EATON VANCE CORP.
	(Registrant)
DATE:  September 6, 2013
	/s/Laurie G. Hylton
	(Signature)
	Laurie G. Hylton
	Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer)

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EX-31.1

Exhibit 31.1

CERTIFICATION

I, Thomas E. Faust Jr., certify that:

1. I have reviewed this quarterly report on Form 10-Q of Eaton Vance Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

DATE:  September 6, 2013
	/s/Thomas E. Faust Jr.
	(Signature)
	Thomas E. Faust Jr.
	Chairman, Chief Executive Officer and President

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Laurie G. Hylton, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Eaton Vance Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

DATE: September 6, 2013	/s/Laurie G. Hylton
	(Signature)
	Laurie G. Hylton
	Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Eaton Vance Corp. (the “Company”) on Form 10-Q for the period ending July 31, 2013 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Thomas E. Faust Jr., Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

DATE:  September 6, 2013	/s/Thomas E. Faust Jr.
	(Signature)
	Thomas E. Faust Jr.
	Chairman, Chief Executive Officer and President

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Eaton Vance Corp. (the “Company”) on Form 10-Q for the period ending July 31, 2013 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Laurie G. Hylton, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

DATE:  September 6, 2013	/s/Laurie G. Hylton
	(Signature)
	Laurie G. Hylton
	Chief Financial Officer

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Variable Interest Entities

9 Months Ended

Jul. 31, 2013

Variable Interest Entities Disclosure [Abstract]

Variable Interest Entities

9. VIEs

In the normal course of business, the Company maintains investments in sponsored CLO entities, sponsoredfundsand privately offered equity funds that are considered VIEs. These variable interests generally represent seed investments made by the Company, as collateral manager or investment advisor, to launch or market these vehicles. The Company receives management fees for the services it provides as collateral manager or investment advisor to these entities. These fees may also be considered variable interests.

To determine whether or not the Company should be treated as the primary beneficiary of a VIE, management must make significant estimates and assumptions regarding probable future cash flows of the VIE. These estimates and assumptions relate primarily to market interest rates, credit default rates, prepayment rates, discount rates, the marketability of certain securities and the probability of certain outcomes.

Investments in VIEs that are consolidated

Sponsored funds

From time to time the Company invests in investment companies that meet the definition of a VIE. Disclosure regarding such consolidated sponsored funds is included in Note 4. In the ordinary course of business, the Company may elect to contractually waive investment advisory fees that it is entitled to receivefrom sponsored funds, and these waivers are disclosed in Note 20.

Consolidated CLO entity

The Company is the primary beneficiary of one CLO entity where it has, by design and in its role as collateral manager, the power to direct the activities that most significantly impact the economic performance of the entity. In developing its conclusion that it is the primary beneficiary of this entity, the Company determined that it has variable interests in the entity by virtue of both its residual interest in, and collateral management fees it receives from, the entity and that these variable interests may represent an obligation to absorb losses of or a right to receive benefits from the entity that could potentially be significant to the entity. Quantitative distinguishing factors supporting the Company's qualitative conclusion included the relative size of the Company's economic interest (approximately 8percent, which is greater than the Company's investment in the non-consolidated CLO entities in which the Company holds variable interests and serves as collateral manager) and the presence of an incentive management fee which, when combined with returns on the Company's residual interest, may result in more than an insignificant economic interest in the total returns of the entity. In consideration of these factors, the Company concluded that it was the primary beneficiary of thatCLO entity for consolidation accounting purposes.

The Company irrevocably elected the fair value option for all financial assets and liabilities of the consolidated CLO entity. Unrealized gains and losses on assets and liabilities for which the fair value option has been elected are reported in gainsand other investment income, net, in the Company's Consolidated Statements of Income. Although the subordinated note obligations of the CLO entity have certain equity characteristics, the Company has determined that the subordinated notes should be recorded as liabilities in the Company's Consolidated Balance Sheets.

The assets of this CLO entity are held solely as collateral to satisfy the obligations of the entity. The Company has no right to the benefits from, nor does the Company bear the risks associated with, the assets held by the entity beyond the Company's minimal direct investment and beneficial interest therein and management fees generated from the entity. The note holders of the CLO entity have no recourse to the Company's general assets. There are no explicit arrangements nor does the Company hold implicit variable interests that would require the Company to provide any ongoing financial support to the entity.

The following tables present, as of July 31, 2013 and October 31, 2012, the fair value of the consolidated CLO entity's assets and liabilities subject to fair value accounting:

July 31, 2013
		CLO Bank Loan Investments
(in thousands)		Total CLO bank loan investments		90 days or more past due		Senior and subordinated note obligations
Unpaid principal balance	$	241,835	$	908	$	311,580
Unpaid principal balance
over fair value		(2,166)		(570)		(20,405)
Fair value	$	239,669	$	338	$	291,175

October 31, 2012
		CLO Bank Loan Investments
(in thousands)		Total CLO bank loan investments		90 days or more past due		Senior and subordinated note obligations
Unpaid principal balance	$	425,153	$	500	$	471,546
Unpaid principal balance
over fair value		(863)		(485)		(24,941)
Fair value	$	424,290	$	15	$	446,605

During the three months ended July 31, 2013 and 2012, the changes in the fair values of the CLO entity's bank loans and other investments resulted in net losses of $2.2 million and$1.1 million, respectively, while changes in the fair value of the CLO's note obligations resulted in net gainsof $0.7 million and$8.5 million, respectively. The combined net losses of $1.5 million and net gains of $7.4 million for the three months ended July 31, 2013 and 2012, respectively, were recorded as gains and other investment income, net,of the consolidated CLO entity in the Company's Consolidated Statement of Income for those periods.

During the nine months ended July 31, 2013 and 2012, the changes in the fair values of the CLO entity's bank loans and other investments resulted in net gains of $0.3 million and $14.8 million, respectively, while changes in the fair value of the CLO's note obligations resulted in net losses of $4.5 million and net gains of $0.6 million, respectively. The combined net losses of $4.2 million and net gains of $15.4 million for the nine months ended July 31, 2013 and 2012, respectively, were recorded as gains and other investment income, net,of the consolidated CLO entity in the Company's Consolidated Statement of Income for those periods.

Substantially all gains (losses) related to the CLO entity's bank loans, other investments and note obligations recorded in earnings for the periods were attributable to changes in instrument-specific credit risk.

The CLO entity's note obligations bear interest at variable rates based on LIBOR plus a pre-defined spread, which ranges from 0.21 percent to 1.50 percent. The principal amounts outstanding of the note obligations issued by the CLO entity mature on April 20, 2019. It is expected that prepayments received will be used to pay down the entity's note obligations. During the nine months ended July 31, 2013, $159.9million of prepayments were used to pay down the entity's note obligations. The holders of a majority of the subordinated notes have the option to liquidate the CLO entity, provided there is sufficient value to repay the senior notes in full.

Interest income and expense are recorded on an accrual basis and reported as gainsand other investment income, netand as interest expensein other income (expense) of theconsolidated CLO entity in the Company's Consolidated Statements of Income for the three and nine months endedJuly 31, 2013 and 2012, respectively.

The following carrying amounts related to the consolidated CLO entity were included in the Company's Consolidated Balance Sheetsat July 31, 2013 and October 31, 2012:

	July 31,		October 31,
(in thousands)	2013		2012
Assets of consolidated CLO entity:
Cash and cash equivalents	$	58,300	$	36,758
Bank loans and other investments		245,991		430,583
Other assets		2,237		1,107
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations		291,175		446,605
Other liabilities		421		766
Appropriated retained earnings		13,107		18,699
Net interest in consolidated CLO entity	$	1,825	$	2,378

The Company hada subordinated interest in the consolidated CLO entity of $1.5million and $1.9 million as of July 31, 2013and October 31, 2012, respectively, which was eliminated in consolidation.

For the three months ended July 31, 2013 and 2012, the Company recorded a net loss of $1.3 million and net income of $8.4 million, respectively, related to the consolidated CLO entity. The Company recorded a $2.4million net loss attributable to other beneficial interests and$7.5 million ofnet income attributable to other beneficial interests for three months ended July 31, 2013 and 2012, respectively, reflecting the interests of third-party note holders of the consolidated CLO entity. Net income attributable to Eaton Vance Corp. shareholders included $1.0 million and $0.9 million related to the consolidated CLO entity for each ofthe three months ended July 31, 2013 and 2012, respectively.

For the nine months ended July 31, 2013 and 2012, the Company recorded a net loss of $2.6million andnet income of $18.9 million, respectively, related to the consolidated CLO entity. The Company recorded a $5.6million net loss attributable to other beneficial interestsand$16.4 million ofnet income attributable to other beneficial interestsfor the nine months ended July 31, 2013 and 2012, respectively,reflecting the interests of third-party note holders of the consolidated CLO entity. Net income attributable to Eaton Vance Corp. shareholders included $2.9 million and $2.5 million related to the consolidated CLO entity for each of the nine months ended July 31, 2013 and 2012, respectively.

Investments in VIEs that are not consolidated

Sponsored funds

The Company classifies its investments in certain sponsored funds that are considered VIEs as either equity method investments (generally when the Company owns more than 20 percent but less than 50 percent of the fund) or as available-for-sale investments (generally when the Company owns less than 20 percent of the fund), when it is not considered the primary beneficiary of those VIEs. The Company has provided aggregated disclosures with respect to these non-consolidated sponsored fund VIEs in Note 5.

Non-consolidated CLO entities

The Company is not deemed the primary beneficiary of several CLO entities in which it holds variable interests.In its role as collateral manager, the Company has the power to direct the activities of the CLO entities that most significantly impact the economic performance of these entities. In developing its conclusion that it is not the primary beneficiary of these entities, the Company determined that, although it has variable interests in each entity by virtue of its residual interests therein and the collateral management fees it receives, its variable interests neither individually nor in the aggregate represent an obligation to absorb losses of or a right to receive benefits from any such entity that could potentially be significant to that entity. Quantitative factors supporting the Company's qualitative conclusion in each case included the relative size of the Company's residual interest (in each instance representing less than 6 percent of the residual interest tranche and less than 1 percent of the total capital of the entity) and the overall magnitude and design of the collateral management fees within each structure.

These non-consolidated entities had total assets of $1.8 billion as of July 31, 2013and October 31, 2012. The Company's investment in these entities totaled $0.3million and $0.4 million as ofJuly 31, 2013and October 31, 2012, respectively, and collateral management fees receivable for these entities totaled $2.1 million and $2.0 millionon July 31, 2013and October 31, 2012, respectively. In the first nine monthsof fiscal 2013, the Company did not provide any financial or other support to these entities that it was not previously contractually required to provide. The Company's risk of loss with respect to these entities is limited to the carrying value of its investments in, and collateral management fees receivable from, the CLO entities as of July 31, 2013.

The Company's investment in non-consolidated CLO entitiesis carried at amortized cost and is disclosed as a component of investments in Note 5. Income from non-consolidated CLO entities is recorded as a component of gains and other investment income, net,in the Company's Consolidated Statements of Income, based upon projected investment yields.

Other entities

The Company holds variable interests in, but is not deemed to be the primary beneficiary of, certain sponsored privately offered equity funds with total assets of $9.6 billion and $9.0 billion as of July 31, 2013 and October 31, 2012, respectively. The Company's variable interests in these entities consist of the Company's direct ownership in these entities and any investment advisory fees earned but uncollected. The Company held investments in these entities totaling $5.4 million and $4.4 million on July 31, 2013 and October 31, 2012, respectively, and investment advisory fees receivable totaling $0.5 million and $0.4 million on July 31, 2013 and October 31, 2012, respectively. In the first nine months of fiscal 2013, the Company did not provide any financial or other support to these entities that it was not previously contractually required to provide. The Company's risk of loss with respect to these managed entities is limited to the carrying value of its investments in and investment advisory fees receivable from the entities as of July 31, 2013.

The Company's investments in privately offered equity funds are carried at fair value and included in investment securities, available for sale, which are disclosed as a component of investments in Note 5. The Company records any change in fair value, net of income tax, in other comprehensive income (loss).

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Variable Interest Entities Investments in VIEs That Are Consolidated (Details) (USD $)	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012	Oct. 31, 2012
Investments In Variable Interest Entities That Are Consolidated Details [Abstract]
Unpaid principal balance (Total CLO bank loan investments)	$ 241,835,000		$ 241,835,000		$ 425,153,000
Unpaid principal balance (over) under fair value (Total CLO bank loan investments)	(2,166,000)		(2,166,000)		(863,000)
Fair Value (Total CLO bank loan investments)	239,669,000		239,669,000		424,290,000
Unpaid principal balance (90 days or more past due)	908,000		908,000		500,000
Unpaid principal balance (over) under fair value (90 days or more past due)	(570,000)		(570,000)		(485,000)
Fair Value (90 days or more past due)	338,000		338,000		15,000
Unpaid principal balance (Senior and subordinated note obligations)	311,580,000		311,580,000		471,546,000
Unpaid principal balance (over) under fair value (Senior and subordinated note obligations)	(20,405,000)		(20,405,000)		(24,941,000)
Senior and subordinated note obligations	291,175,000		291,175,000		446,605,000
CLO Bank Loan Investments And Note Obligations Activity
Net (losses) gains resulting from change in fair value of the CLO entitys investments	(2,200,000)	(1,100,000)	300,000	14,800,000
Net gains (losses) resulting from an increase in the fair value of the CLOs note obligations.	700,000	8,500,000	(4,500,000)	600,000
Minimum variable interest rate on the note obligations held by the CLO entitys (as a percent)			0.21%
Maximum variable interest rate on the note obligations held by the CLO entitys (as a percent)			1.50%
Maturity date			Apr. 20, 2019
Assets of consolidated collateralized loan obligation ("CLO") entity:
Cash and cash equivalents	58,300,000		58,300,000		36,758,000
Bank loans and other investments	245,991,000		245,991,000		430,583,000
Other assets	2,237,000		2,237,000		1,107,000
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations	291,175,000		291,175,000		446,605,000
Other liabilities	421,000		421,000		766,000
Appropriated retained earnings	13,107,000		13,107,000		18,699,000
Total net interest in consolidated collateralized loan obligation entity	1,825,000		1,825,000		2,378,000
Direct equity interest in the Consolidated CLO entity	1,500,000		1,500,000		1,900,000
The CLOs net income (loss) recorded in the Company's Consolidated Statement of Income	(1,300,000)	8,400,000	(2,600,000)	18,900,000
The third-party note holders of the CLO entities net income (loss) recorded during the period included in net income attributable to non-controlling and other beneficial interests	(2,400,000)	7,500,000	(5,600,000)	16,400,000
Net income attributable to Eaton Vance Corp. shareholders related to the consolidated CLO entity	$ 1,000,000	$ 900,000	$ 2,900,000	$ 2,500,000

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Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Revenue:
Investment advisory and administrative fees	$ 293,589	$ 244,655	$ 833,791	$ 732,995
Distribution and underwriter fees	22,681	22,066	67,597	67,132
Service fees	32,259	30,760	94,521	95,124
Other revenue	1,832	1,290	4,661	3,896
Total revenue	350,361	298,771	1,000,570	899,147
Expenses:
Compensation and related costs	115,379	94,700	334,220	288,949
Distribution expense	35,452	32,670	104,645	97,958
Service fee expense	29,013	28,165	86,488	84,926
Amortization of deferred sales commissions	4,983	4,593	14,518	15,946
Fund-related expenses	8,230	7,205	23,728	20,446
Other expenses	38,454	36,422	109,371	104,275
Total expenses	231,511	203,755	672,970	612,500
Operating income	118,850	95,016	327,600	286,647
Non-operating income (expense):
(Losses) gains and other investment income, net	(8,027)	1,927	2,223	12,900
Interest expense	(9,167)	(8,525)	(26,309)	(25,350)
Loss on extinguishment of debt	(52,886)		(52,886)
Other income (expense) of consolidated CLO entity:
Gains and other investment income, net	1,704	12,872	7,881	32,047
Interest expense	(2,939)	(4,399)	(10,211)	(12,844)
Total non-operating (expense) income	(71,315)	1,875	(79,302)	6,753
Income before income taxes and equity in net income of affiliates	47,535	96,891	248,298	293,400
Income taxes	(25,137)	(34,379)	(99,270)	(104,730)
Equity in net income of affiliates, net of tax	2,652	175	9,269	1,657
Net income	25,050	62,687	158,297	190,327
Net income attributable to non-controlling and other beneficial interests	(1,847)	(12,481)	(21,608)	(39,980)
Net income attributable to Eaton Vance Corp. shareholders	$ 23,203	$ 50,206	$ 136,689	$ 150,347
Earnings per share:
Basic	$ 0.19	$ 0.44	$ 1.12	$ 1.30
Diluted	$ 0.18	$ 0.43	$ 1.07	$ 1.27
Weighted average shares outstanding:
Basic	117,594	112,110	116,399	112,354
Diluted	123,872	114,591	122,155	115,031
Dividends declared per share	$ 0.20	$ 0.19	$ 1.60	$ 0.57

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Principles of Consolidation

9 Months Ended

Jul. 31, 2013

Principles Of Consolidation Disclosure [Abstract]

Principles of Consolidation

2. Principles of Consolidation

The Consolidated Financial Statements include the accounts of the Company and its controlled affiliates. The Company consolidates any voting interest entity in which the Company's ownership exceeds 50 percent or where the Company has control. In addition, the Company consolidates any variable interest entity (“VIE”)(including the collateralized loan obligation (“CLO”) entityreferred to in Note 9) for which the Company is considered the primary beneficiary. The Company recognizesnon-controlling and other beneficial interests in consolidated affiliates in which the Company's ownership is less than 100 percent. All intercompany accounts and transactions have been eliminated in consolidation.

From time to time, the Company may maintain a controlling interest in an Eaton Vance open-end registered investment company (a “sponsored fund”). Upon consolidation, the Company retains the specialized accounting treatment of the sponsored fund. Under the specialized accounting guidance for investment companies,underlying investments held by consolidated sponsored funds are carried at fair value, with corresponding changes in fair value reflected in gains and other investment income, net, in the Company's Consolidated Statements of Income.

With limited exceptions, each of the Company's sponsored funds is organized as a separately managed component (or “series”) of a series trust. All assets of a series irrevocably belong to that series and are subject to the liabilities of that series; under no circumstances are the liabilities of one series payable by another series. Series trusts themselves have no equity investment at risk, but decisions regarding the trustees of the trust and certain key activities of each sponsored fund within the trust, such as appointment of each sponsored fund's investment adviser, typically reside at the trust level. As a result, shareholders of a sponsored fund that is organized as a series of a series trust lack the ability to control the key decision-making processes that most directly affect the performance of the sponsored fund. Accordingly, the Company believes that each trust is a VIE and each sponsored fund is a silo of a VIE that also meets the definition of a VIE. Having concluded that each silo is a VIE, the primary beneficiary evaluation defaults to an analysis of economic interest. The Company typically holds the majority of the shares of a sponsored fund corresponding to a majority economic interest during the seed investment stage when the fund's investment track record is being established or when the fund is in the early stages of soliciting third-party investors. The Company consolidates the fund as primary beneficiary during this period. While the sponsored fund is consolidated, fee revenue is recorded, but is eliminated in consolidation.

The Company regularly seeds new sponsored funds and therefore may consolidate a variety of sponsored funds during a given reporting period. Due to the similarity of risks related to the Company's involvement with each sponsored fund, disclosures required under the VIE model are aggregated, such as those disclosures regarding the carrying amount and classification of assets of the sponsored funds, and the gains and losses that the Company recognizes from the sponsored funds.

When the Company is no longer deemed to control a sponsored fund, typically when either the Company redeems its shares or shares held by third parties exceed the number of shares held by the Company, the Company deconsolidates the sponsored fund and removes the related assets, liabilities and non-controlling interests from balance sheet accounts and classifies the Company's remaining investment as either an equity method investment or an available-for-sale investment as applicable. Because consolidated sponsored funds utilize fair-value measurements, there is no incremental gain or loss recognized upon deconsolidation.

The extent of the Company's exposure to loss with respect to a consolidated sponsored fund is the amount of the Company's investment in the sponsored fund. The Company is not obligated to provide financial support to sponsored funds, and the assets of sponsored funds can only be used to settle obligations of the sponsored funds. Beneficial interest holders of sponsored funds do not have recourse to the general credit of the Company.

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Income Taxes

9 Months Ended

Jul. 31, 2013

Income Tax Disclosure [Abstract]

Income Taxes

16. Income Taxes

The provision for income taxes was $25.1 million and $34.4 million, or 52.9 percent and 35.5percent of pre-tax income, for the three months ended July 31, 2013 and 2012, respectively. The provision for income taxes was $99.3million and $104.7 million, or 40.0percent and 35.7 percent of pre-tax income, for the nine months endedJuly 31,2013 and 2012, respectively. The Company's tax rate for the three and nine month periods ending July 31, 2013 was increased by 14.1 percent and 2.7 percent, respectively, due to the state tax settlement described below.

The provision for income taxes in the three and nine months ended July 31, 2013 and 2012 is comprised of federal, state, and foreign taxes. The primary difference between the Company's effective tax rate and the statutory federal rate of 35.0percent are state income taxes, income and losses recognized by the consolidated CLO entity, other non-controllinginterests and the tax benefit of disqualifying dispositions of incentive stock options.

The Company records a valuation allowance when necessary to reduce deferred tax assets to an amount that is more likely than not to be realized. There was no valuation allowance recorded as of July 31, 2013 or October 31, 2012.

The Company is currently under audit by several states. The tax authority of one state previously provided the Company with draft workpapers challenging a tax position in the Company's previously filed tax returns. During the quarter ended July 31, 2013, the tax authority presented the Company with a settlement offer, which the Company accepted and executed on July 30, 2013. The settlement agreement stipulated a lump sum payment of $19.6 million to settle all matters relating to the tax authority's audit of the fiscal years ended October 31, 2004 through October 31, 2009. The $19.6 million payment resulted in a net increase to income tax expense in the third quarter of fiscal 2013 of $6.7 million, equal to the amount of the payment less previously recorded reserves of $9.3 million and a federal tax benefit on the increased state tax of $3.6 million.

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Non-Controlling and Other Beneficial Interests (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Non Controlling And Other Beneficial Interests Details [Abstract]
Consolidated sponsored funds	$ 206	$ (839)	$ (3,886)	$ (3,167)
Majority-owned subsidiaries	(4,007)	(3,354)	(11,596)	(10,465)
Non-controlling interest value adjustments	(405)	(796)	(11,718)	(9,996)
Consolidated CLO entity	2,359	(7,492)	5,592	(16,352)
Net income attributable to non-controlling and other beneficial interests	$ (1,847)	$ (12,481)	$ (21,608)	$ (39,980)

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Intangible Assets 1 (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2013	Oct. 31, 2012
Amortizing intangible assets:
Accumulated amortization	$ (65,643)	$ (58,807)
Intangible assets
Gross intangible assets	142,535	118,035
Accumulated amortization	(65,643)	(58,807)
Intangible assets, net	76,892	59,228
Mutual Fund Management Contract Acquired [Member]
Non-amortizing intangible assets:
Net carrying amount	6,708	6,708
Client Relationships Acquired [Member]
Amortizing intangible assets:
Gross carrying amount	133,927	110,327
Accumulated amortization	(65,394)	(58,681)
Net carrying amount	68,533	51,646
Intangible assets
Accumulated amortization	(65,394)	(58,681)
Intellectual Property Acquired [Member]
Amortizing intangible assets:
Gross carrying amount	1,000	1,000
Accumulated amortization	(174)	(126)
Net carrying amount	826	874
Intangible assets
Accumulated amortization	(174)	(126)
Trademark Acquired [Member]
Amortizing intangible assets:
Gross carrying amount	900
Accumulated amortization	(75)
Net carrying amount	825
Intangible assets
Accumulated amortization	$ (75)

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Acquisitions

9 Months Ended

Jul. 31, 2013

Acquisitions Disclosure [Abstract]

Acquisitions

10. Acquisitions

The Clifton Group Investment Management Company (“Clifton”)

On December 31, 2012, the Company's subsidiary, Parametric Portfolio Associates LLC (“Parametric”), acquired Clifton. The operating results of Clifton have been included in the Company's consolidated statements since that date. Pro forma results of operations have not been presented because the results of operations would not have been materially different from those reported in the accompanying Consolidated Statements of Income. Clifton is a provider of futures- and options-based overlay services and risk management solutions for institutional investors based in Minneapolis, Minnesota. The Clifton acquisition complements and expands the range of engineered portfolio solutions offered by Parametric. The Company paid $72.3 million in cash and issued an indirect ownership interest in Parametric with a fair market value of $12.8 million to certain Clifton principals. These indirect interests are subject to certain put and call arrangements at fair value that may be executed over a five-year period. There are no future contingent payments to be made in connection with the acquisition. Upon closing, Clifton became a division of Parametric.

In conjunction with the purchase, the Company recorded $24.5 million of intangible assets, which consist primarily of client relationship intangible assets acquired. The client relationship intangible assets will be amortized over an eighteen-year period. The Company also recorded goodwill of $60.1 million, which is deductible for tax purposes. During the three months ended July 31, 2013, revenue and earnings from Clifton were $7.2 million and $2.1 million, respectively. During the nine months ended July 31, 2013, revenue and earnings from Clifton were $15.6 million and $4.3 million, respectively.

Tax Advantaged Bond Strategies (“TABS”)

In fiscal 2009, the Company acquired the TABS business of M.D. Sass Investors Services, a privately held investment manager based in New York, New York, for cash and future consideration. During the first quarter of fiscal 2013, the Company made a contingent payment of $14.1 million to the selling group based upon prescribed multiples of TABS's revenue for the twelve months ended December 31, 2012. The payment increased goodwill by $14.1 million. The Company will be obligated to make three additional annual contingent payments to certain remaining members of the selling group based on prescribed multiples of TABS's revenue for the twelve months ending December 31, 2014, 2015 and 2016. All future payments will be in cash and will result in an addition to goodwill. These payments are not contingent upon any member of the selling group remaining an employee of the Company.

Parametric

In December 2012, certain non-controlling interest holders of Parametric exercised their final put option pursuant to the terms of the original acquisition agreement requiring the Company to purchase an additional 3.4 percent capital and 5.7 percent profit interest in the entity. The $43.5 million exercise price of the put option was based on a multiple of estimated earnings before taxes for the calendar year ended December 31, 2012. The payment was treated as an equity transaction and reduced redeemable non-controlling interests at closing on December 20, 2012. Indirect profit interests granted to Parametric employees under a long-term equity incentive plan of that entity increased to 4.9 percent on July 31, 2013, reflecting a 0.76 percent profit interest granted on November 1, 2012 under the plan. Indirect capital and profit interests in Parametric held by the principals of Clifton totaled 1.9 percent onJuly 31, 2013, reflecting indirect interests issued in conjunction with the Clifton acquisition on December 31, 2012. Capital and profit interests in Parametric held by the Company increased to 98.1 percent and 93.3 percent, respectively, onJuly 31, 2013, reflecting the transactions described above.

Parametric Risk Advisors LLC (“Parametric Risk Advisors”)

On June 18, 2013, the Company exercised a call option requiring the non-controlling interest holders of Parametric Risk Advisorsto sell units representing a 10 percent ownership interest in Parametric Risk Advisors for $3.1 million. Pursuant to the acquisition agreement, the exercise price of the call option was based on a multiple of earnings before interest and taxes for the twelve months ended April 30, 2013. Upon execution of the call option, the Company reduced redeemable non-controlling interests and recorded a liability within other liabilities on the Company's Consolidated Balance Sheet. The transaction is anticipated to settle on November 1, 2013 and will increase the Company's ownership interest from 70 percent to 80 percent.

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Fair Value Measurements Transfer Narrative (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Fair Value Measurements Details [Abstract]
Transfers from Level 1 into level 2	$ 237	$ 7,861	$ 43	$ 18,104
Transfers from Level 2 into level 1	$ 149	$ 0	$ 1,332	$ 0

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Intangible Assets 2 (Details) (USD $)	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Amortization Expense
Amortizing intangible assets amortization expense	$ 2,400,000	$ 2,000,000	$ 6,800,000	$ 6,000,000
Estimated amortization expense
Remaining 2013	2,359,000		2,359,000
2014	9,408,000		9,408,000
2015	9,183,000		9,183,000
2016	8,741,000		8,741,000
2017	8,628,000		8,628,000
2018	$ 8,188,000		$ 8,188,000

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Non-operating Income (Expense) (Tables)

9 Months Ended

Jul. 31, 2013

Non Operating Income Expense Table [Abstract]

Summary of non-operating income (expense)

			Three Months Ended				Nine Months Ended
			July 31,					July 31,
(in thousands)				2013		2012		2013		2012
Non-operating income (expense):
	Interest and other income		$	909	$	1,581	$	4,936	$	5,274
	Net (losses) gains on investments and derivatives			(8,902)		106		(2,676)		7,786
	Net foreign currency (losses) gains			(34)		240		(37)		(160)
	(Losses) gains and other investment income, net			(8,027)		1,927		2,223		12,900
	Interest expense			(9,167)		(8,525)		(26,309)		(25,350)
	Loss on extinguishment of debt			(52,886)		-		(52,886)		-
	Other income (expense) of consolidated
		CLO entity:
		Interest income		3,162		5,469		12,078		16,681
		Net (losses) gains on bank loans,
		other investments and note obligations		(1,458)		7,403		(4,197)		15,366
		Gains and other investment income, net		1,704		12,872		7,881		32,047
		Interest expense		(2,939)		(4,399)		(10,211)		(12,844)
	Total non-operating (expense) income		$	(71,315)	$	1,875	$	(79,302)	$	6,753

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Commitments and Contingencies

9 Months Ended

Jul. 31, 2013

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

19. Commitments and Contingencies

In the normal course of business, the Company enters into agreements that include indemnities in favor of third parties, such as engagement letters with advisors and consultants, information technology agreements, distribution agreements and service agreements.  In certain circumstances, these indemnities in favor of third parties relate to service agreements entered into by investment funds managed and/or advised by Eaton Vance Management or Boston Management and Research, both wholly owned subsidiaries of the Company. The Company has also agreed to indemnify its directors, officers and employees in accordance with the Company's Articles of Incorporation, as amended. Certain agreements do not contain any limits on the Company's liability and, therefore, it is not possible to estimate the Company's potential liability under these indemnities. In certain cases, the Company has recourse against third parties with respect to these indemnities. Further, the Company maintains insurance policies that may provide coverage against certain claims under these indemnities.

The Company and its subsidiaries are subject to various legal proceedings. In the opinion of management, after discussions with legal counsel, the ultimate resolution of these matters will not have a material adverse effect on the consolidated financial condition or results of operations of the Company.

In July 2006, the Company committed to invest $15.0million in a private equity partnership that invests in companies in the financial services industry. The Company has invested $13.9 million of the total $15.0 million of committed capital at July 31, 2013. The Company believes the remaining $1.1 million will likely be invested by March 2015.

The Company has entered into transactions in financial instruments in which it has sold securities, not yet purchased as part of its corporate hedging program. As of July 31, 2013, the Company has $1.6 million included within other liabilities on its Consolidated Balance Sheet related to securities sold, not yet purchased.

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Earnings per Share

9 Months Ended

Jul. 31, 2013

Earnings Per Share Disclosure [Abstract]

Earnings per Share

18. Earnings per Share

The following table sets forth the calculation of earnings per basic and diluted share for the three and nine months endedJuly 31, 2013 and 2012 using the two-class method:

	Three Months Ended				Nine Months Ended
		July 31,				July 31,
(in thousands, except per share data)	2013		2012		2013		2012
Net income attributable to Eaton Vance Corp.
shareholders	$	23,203	$	50,206	$	136,689	$	150,347
Less: Allocation of earnings to participating
restricted shares		793		1,423		6,258		4,213
Net income available to common shareholders	$	22,410	$	48,783	$	130,431	$	146,134
Weighted-average shares outstanding – basic		117,594		112,110		116,399		112,354
Incremental common shares		6,278		2,481		5,756		2,677
Weighted-average shares outstanding – diluted		123,872		114,591		122,155		115,031
Earnings per share:
Basic	$	0.19	$	0.44	$	1.12	$	1.30
Diluted	$	0.18	$	0.43	$	1.07	$	1.27

Antidilutive common shares related to stock options excluded from the computation of earnings per diluted share were approximately 3.0million and 14.4million for the three months ended July 31, 2013 and 2012, respectively, and were approximately 3.0million and 15.0million for the nine months ended July 31, 2013 and 2012, respectively.

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Investments In Equity Method Investees (Details) (USD $)	9 Months Ended
	Jul. 31, 2013	Oct. 31, 2012
Schedule Of Equity Method Investments [Line Items]
Total equity method sponsored funds	$ 89,492,000	$ 66,558,000
Private Equity Partnership [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage	7.00%	7.00%
Equity method investment aggregate cost	5,000,000	9,800,000
Eaton Vance Atlanta Capital Select Equity Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage	39.00%
Equity method investment aggregate cost	23,835,000
Eaton Vance Hexavest Global Equity Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage	35.00%
Equity method investment aggregate cost	23,308,000
Eaton Vance Real Estate Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage	39.00%	48.00%
Equity method investment aggregate cost	13,465,000	16,494,000
Eaton Vance Municipal Opportunities Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage	32.00%
Equity method investment aggregate cost	10,250,000
Eaton Vance Focused Value Opportunities Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage	39.00%
Equity method investment aggregate cost	6,609,000
Eaton Vance Tax-Advantaged Bond Strategies Long Term Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage	28.00%	31.00%
Equity method investment aggregate cost	5,609,000	10,346,000
Eaton Vance Focused Growth Opportunities Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage	41.00%
Equity method investment aggregate cost	6,416,000
Eaton Vance Richard Bernstein All Asset Strategy Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage		44.00%
Equity method investment aggregate cost		23,341,000
AGF Floating Rate Income Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage		21.00%
Equity method investment aggregate cost		15,334,000
Parametric Structured Currency Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage		33.00%
Equity method investment aggregate cost		1,043,000
Hexavest [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment ownership percentage	49.00%	49.00%
Equity method investment aggregate cost	176,600,000	181,200,000
Equity method investment underlying equity in net assets	5,000,000	3,400,000
Intangible assets net excluding goodwill, equity in investee	39,700,000	42,700,000
Goodwill, equity in investee	142,600,000	146,600,000
Deferred tax liability, equity in investee	$ 10,700,000	$ 11,500,000
Additional interest that may be purchased by the company	26.00%
Estimated useful life on Hexavest finite-lived intangible assets	17 years

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Fair Value Measurements of Other Financial Instruments (Tables)

9 Months Ended

Jul. 31, 2013

Fair Value Measurements Of Other Financial Instruments Disclosure Table [Abstract]

Summary of the carrying amounts and estimated fair values of other financial instruments

		July 31, 2013					October 31, 2012
(in thousands)		Carrying Value		Fair Value	Fair Value Level		Carrying Value		Fair Value	Fair Value Level
Investments, other	$	7,470	$	7,470	3	$	7,470	$	7,470	3
Other assets	$	8,075	$	8,075	3	$	8,307	$	8,307	3
Debt	$	573,460	$	601,121	2	$	500,000	$	604,316	2

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Earnings Per Share (Tables)

9 Months Ended

Jul. 31, 2013

Earnings Per Share Disclosure Tables [Abstract]

Summary schedule of the calculation of earnings per basic and diluted shares using the two class method

	Three Months Ended				Nine Months Ended
		July 31,				July 31,
(in thousands, except per share data)	2013		2012		2013		2012
Net income attributable to Eaton Vance Corp.
shareholders	$	23,203	$	50,206	$	136,689	$	150,347
Less: Allocation of earnings to participating
restricted shares		793		1,423		6,258		4,213
Net income available to common shareholders	$	22,410	$	48,783	$	130,431	$	146,134
Weighted-average shares outstanding – basic		117,594		112,110		116,399		112,354
Incremental common shares		6,278		2,481		5,756		2,677
Weighted-average shares outstanding – diluted		123,872		114,591		122,155		115,031
Earnings per share:
Basic	$	0.19	$	0.44	$	1.12	$	1.30
Diluted	$	0.18	$	0.43	$	1.07	$	1.27

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Fair Value Measurements Level 3 (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012	Oct. 31, 2012
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Principal repayments of senior notes			$ (159,942)
Bank Loans And Other Investments Of Consolidated CLO Entity [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value measurements with unobservable inputs reconciliation recurring basis asset value, beginning of period (asset)	2,819	2,150	2,203	5,910	5,910
Net gains (losses) on investments and note obligations included in net income	(101)	(139)	(80)	(139)
Transfers into Level 3 (asset)	327	122	922	137
Transfers out of Level 3 (asset)		(15)		(3,790)
Fair value measurements with unobservable inputs reconciliation recurring basis asset value, end of period (asset)	3,045	2,118	3,045	2,118
Change in unrealized (losses) gains included in net income relating to assets and liabilities held (asset)	(101)	(139)	(80)	(139)
Senior And Subordinated Note Obligations Of Consolidated CLO [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value measurements with unobservable inputs reconciliation recurring basis liability value, beginning of period (liability)	365,460	483,062	443,946	477,699	477,699
Net gains (losses) on investments and note obligations included in net income	(720)	(8,599)	4,536	(603)
Principal repayments of senior notes	(76,200)		(159,942)
Transfers out of Level 3 (liability)				(2,633)
Fair value measurements with unobservable inputs reconciliation recurring basis liability value, end of period (liability)	288,540	474,463	288,540	474,463	443,946
Change in unrealized (losses) gains included in net income relating to assets and liabilities held (liability)	$ (720)	$ (8,599)	$ 4,536	$ (603)
Senior and subordinated note obligations prepayment rate			30.00%		30.00%
Senior and subordinated note obligations recovery rate			70.00%		70.00%
Senior and subordinated note obligations probability of default			2.00%		2.00%
Senior and subordinated note obligations minimum discount rate			1.10%		1.35%
Senior and subordinated note obligations maximum discount rate			4.75%		7.00%

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Investments (Tables)

9 Months Ended

Jul. 31, 2013

Investments Table [Abstract]

Summary of investments

(in thousands)		July 31, 2013		October 31, 2012
Investment securities, trading:
Cash management assets		$	10,477	$	-
Consolidated sponsored funds			181,275		157,405
Separately managed accounts			57,373		32,848
Total investment securities, trading			249,125		190,253
Investment securities, available-for-sale			17,457		31,148
Investment in non-consolidated CLO entity			317		350
Investments in equity method investees			271,044		257,652
Investments, other			7,531		7,530
Total investments(1)		$	545,474	$	486,933
(1)	Excludes the Company's investment in its consolidated CLO entity, which is discussed in Note 9.

Summary of investments classified as trading securities

(in thousands)	July 31, 2013		October 31, 2012
Cash management assets	$	10,477	$	-
Debt securities - consolidated sponsored funds and
separately managed accounts		148,426		70,805
Equity securities - consolidated sponsored funds and
separately managed accounts		90,222		119,448
Total investment securities, trading	$	249,125	$	190,253

Summary of investments classified as available-for-sale securities

July 31, 2013				Gross Unrealized
(in thousands)	Cost		Gains		Losses		Fair Value
Investment securities, available-for-sale	$	10,939	$	6,609	$	(91)	$	17,457
October 31, 2012				Gross Unrealized
(in thousands)	Cost		Gains		Losses		Fair Value
Investment securities, available-for-sale	$	22,331	$	8,835	$	(18)	$	31,148

Summary of realized gains and losses upon disposition of investments classified as available-for-sale

	Three Months Ended				Nine Months Ended
	July 31,				July 31,
(in thousands)	2013		2012		2013		2012
Gains	$	415	$	41	$	5,666	$	288
Losses		(235)		(230)		(235)		(353)
Net realized gains (losses)	$	180	$	(189)	$	5,431	$	(65)

Summary of equity method investments

		Equity Ownership Interest (%)		Carrying Value ($)(1)
		July 31,	October 31,		July 31,		October 31,
(dollar amounts in thousands)		2013	2012		2013		2012
Eaton Vance Atlanta Capital Select
Equity Fund		39%	-	$	23,835	$	-
Eaton Vance Hexavest Global Equity Fund		35%	-		23,308		-
Eaton Vance Real Estate Fund		39%	48%		13,465		16,494
Eaton Vance Municipal
Opportunities Fund		32%	-		10,250		-
Eaton Vance Focused Value
Opportunities Fund		39%	-		6,609		-
Eaton Vance Focused Growth
Opportunities Fund		41%	-		6,416		-
Eaton Vance Tax-Advantaged Bond
Strategies Long Term Fund		28%	31%		5,609		10,346
Eaton Vance Richard Bernstein
All Asset Strategy Fund		-	44%		-		23,341
AGF Floating Rate Income Fund		-	21%		-		15,334
Parametric Structured Currency Fund		-	33%		-		1,043
Total				$	89,492	$	66,558
(1)	The carrying value of equity method investments in Eaton Vance-managed funds is measured based on the funds’ net asset
	values. The Company has the ability to redeem its investments in these funds at any time. Not shown are Company
	investments in certain of the above-listed funds that were not accounted for as equity method investments as of the
	indicated date.

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Non-operating income (expense) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Non-operating income (expense)
Interest and other income	$ 909	$ 1,581	$ 4,936	$ 5,274
Net (losses) gains on investments and derivatives	(8,902)	106	(2,676)	7,786
Net foreign currency (losses) gains	(34)	240	(37)	(160)
Gains and other investment income, net	(8,027)	1,927	2,223	12,900
Interest expense	(9,167)	(8,525)	(26,309)	(25,350)
Loss on extinguishment of debt	(52,886)		(52,886)
Other income (expense) of consolidated CLO entity:
Interest income	3,162	5,469	12,078	16,681
Net (losses) gains on bank loans, other investments and note obligations	(1,458)	7,403	(4,197)	15,366
Gains and other investment income, net	1,704	12,872	7,881	32,047
Interest expense	(2,939)	(4,399)	(10,211)	(12,844)
Total non-operating (expense) income	$ (71,315)	$ 1,875	$ (79,302)	$ 6,753

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Common Stock (Details) In Millions, unless otherwise specified	9 Months Ended
	Jul. 31, 2013
Common Stock Disclosure Details [Abstract]
Amount of non-voting common stock shares authorized by the Company's Board of Directors to be repurchased under the share repurchase plan	8.0
Non-voting common stock shares repurchased and retired under the Company's current share repurchase plan during the period	1.3
Non-voting shares remaining to be repurchased and retired under the Company's current share repurchase plan as of the end of the period	2.6

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Investments (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2013	Oct. 31, 2012
Schedule Of Investments [Line Items]
Investments	$ 545,474	$ 486,933
Total investment securities, trading	249,125	190,253
Equity Securities [Member]
Schedule Of Investments [Line Items]
Total investment securities, trading	90,222	119,448
Debt Securities [Member]
Schedule Of Investments [Line Items]
Total investment securities, trading	148,426	70,805
Categories of Investments, Marketable Securities, Trading Securities [Member]
Schedule Of Investments [Line Items]
Total investment securities, trading	249,125	190,253
Cash Management Assets [Member]
Schedule Of Investments [Line Items]
Total investment securities, trading	10,477
Cash Management Assets [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member]
Schedule Of Investments [Line Items]
Investments	10,477
Consolidated Sponsored Funds [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member]
Schedule Of Investments [Line Items]
Investments	181,275	157,405
Separately Managed Accounts [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member]
Schedule Of Investments [Line Items]
Investments	57,373	32,848
Available-for-sale Securities [Member]
Schedule Of Investments [Line Items]
Investments	17,457	31,148
Collateralized Loan Obligations [Member]
Schedule Of Investments [Line Items]
Investments	317	350
Equity Method Investments [Member]
Schedule Of Investments [Line Items]
Investments	271,044	257,652
Cost Method Investments [Member]
Schedule Of Investments [Line Items]
Investments	$ 7,531	$ 7,530

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Commitments and Contingencies (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Jul. 31, 2013
Commitments And Contingencies Disclosure Details [Abstract]
Private equity partnership commitments	$ 15.0
Total private equity invested capital	13.9
Total remaining commitment expected to be invested	$ 1.1
The date the remaining commitment is expected to be invested by	March-15

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Non-controlling Interests

9 Months Ended

Jul. 31, 2013

Non Controlling and Other Beneficial Interests Disclosure [Abstract]

Non Controlling and Other Beneficial Interests

17. Non-controlling and Other Beneficial Interests

Net incomeattributable to non-controlling and other beneficial interest holderstotaled $1.8 million and $12.5 million for the three months ended July 31, 2013 and 2012, respectively, and $21.6 million and $40.0 million for the nine months ended July 31, 2013 and 2012, respectively.

The components of net income attributable to non-controlling and other beneficial interest holders for the three and nine months endedJuly 31, 2013 and 2012were as follows:

			Three Months Ended				Nine Months Ended
			July 31,				July 31,
(in thousands)			2013		2012		2013		2012
Consolidated sponsored funds		$	206	$	(839)	$	(3,886)	$	(3,167)
Majority-owned subsidiaries			(4,007)		(3,354)		(11,596)		(10,465)
Non-controlling interest value adjustments(1)			(405)		(796)		(11,718)		(9,996)
Consolidated CLO entity			2,359		(7,492)		5,592		(16,352)
Net income attributable to non-controlling and
other beneficial interests		$	(1,847)	$	(12,481)	$	(21,608)	$	(39,980)
(1)	Relates to non-controlling interests redeemable at other than fair value.

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Consolidated Statements of Comprehensive Income (Parentheticals) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Consolidated Statements of Comprehensive Income Parenthetical
Income tax expense on changes in unrealized gains on derivative instruments	$ 788		$ 788
Income tax expense on amortization of net (gains) losses on derivatives	320	39	399	118
Income tax on unrealized holding gains (losses) on available-for-sale investments	(229)	95	874	(932)
Income tax on foreign currency translation adjustments	$ 1,760	$ 233	$ 2,386	$ 252

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Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012
Cash Flows From Operating Activities:
Net income	$ 158,297	$ 190,327
Adjustments to reconcile net income to net cash (used for) provided by operating activities:
Depreciation and amortization	19,673	19,007
Unamortized gain on derivative instrument	2,015
Amortization of deferred sales commissions	14,575	15,973
Stock-based compensation	40,446	42,819
Deferred income taxes	(4,117)	(7,315)
Net gains on investments and derivatives	(399)	(7,786)
Equity in net income of affiliates, net of amortization	(10,834)	(2,642)
Dividends received from affiliates	13,218	11,117
Loss on extinguishment of debt	52,886
Consolidated CLO entity operating activities:
Net losses (gains) on bank loans, other investments and note obligations	4,197	(15,366)
Amortization of investments	(584)	(790)
Net decrease in other assets and liabilities, including cash	(23,119)	(19,655)
Changes in operating assets and liabilities:
Investment advisory fees and other receivables	(21,852)	3,469
Investments in trading securities	(194,121)	(72,400)
Deferred sales commissions	(14,098)	(8,462)
Other assets	28,424	(169)
Accrued compensation	(13,547)	(27,307)
Accounts payable and accrued expenses	(4,587)	6,027
Other liabilities	(46,702)	17,941
Net cash (used for) provided by operating activities	(229)	144,788
Cash Flows From Investing Activities:
Additions to equipment and leasehold improvements	(4,220)	(2,928)
Net cash paid in acquisition	(86,429)	(12,334)
Cash paid for intangible assets	(300)	(200)
Proceeds from sales of investments	71,414	72,597
Purchase of investments	(747)	(21,624)
Consolidated CLO entity investing activities:
Proceeds from sales and maturities of bank loans and other investments	192,036	182,784
Purchase of bank loans and other investments	(6,547)	(163,037)
Net cash provided by investing activities	165,207	55,258
Cash Flows From Financing Activities:
Purchase of additional non-controlling interest	(43,507)	(19,864)
Proceeds from issuance of subsidiary equity	1,092
Line of credit issuance costs		(1,192)
Long-term debt issuance costs	(3,012)
Proceeds from issuance of long-term debt	323,440
Repayment of long-term debt	(250,000)
Loss on extinguishment of debt	(52,886)
Proceeds from issuance of Voting Common Stock		56
Proceeds from issuance of Non-Voting Common Stock	99,853	22,848
Repurchase of Voting Common Stock	(73)
Repurchase of Non-Voting Common Stock	(48,162)	(76,586)
Principal repayments on notes receivable from stock option exercises	2,028	764
Excess tax benefit of stock option exercises	15,682	2,228
Dividends paid	(191,266)	(65,950)
Net subscriptions received from (redemptions/distributions paid to) non-controlling interest holders	59,874	27,138
Consolidated CLO entity financing activities:
Principal repayments of senior notes	(159,942)
Net cash used for financing activities	(246,879)	(110,558)
Effect of currency rate changes on cash and cash equivalents	(761)	(219)
Net (decrease) increase in cash and cash equivalents	(82,662)	89,269
Cash and cash equivalents, beginning of period	462,076	510,913
Cash and cash equivalents, end of period	379,414	600,182
Supplemental Cash Flow Information:
Cash paid for interest	20,473	24,524
Cash paid for interest by consolidated CLO entity	11,069	13,584
Cash paid for income taxes, net of refunds	115,502	117,829
Supplemental Disclosure of Non-Cash Information:
Increase in equipment and leasehold improvements due to non-cash additions	438	174
Exercise of stock options through issuance of notes receivable	4,734	211
Non-controlling interest call option recorded in other liabilities	3,096
Deconsolidations of Sponsored Investment Funds:
Decrease in investments	(59,889)	(23,639)
Decrease in non-controlling interests	$ (61,023)	$ (21,586)

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New Accounting Standards Not Yet Adopted

9 Months Ended

Jul. 31, 2013

New Accounting Standards Not Yet Adopted Disclosure [Abstract]

New Accounting Standards Not Yet Adopted

3. New Accounting Standards Not Yet Adopted

Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss or a Tax Credit Carryforward Exists

In July 2013, the Financial Accounting Standards Board (“FASB”) issued new guidance requiring an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for any net operating loss carryforward, similar tax loss or tax credit carryforward unless such tax loss or credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes resulting from the disallowance of a tax position. In the event that the tax position is disallowed or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit shall be presented in the financial statements as a liability and shall not be combined with deferred tax assets. The new guidance will be effective for the Company on November 1, 2014. The Company does not anticipate that the adoption of the new guidance will have a material impact on the Company's consolidated financial statements.

Investment Companies

In June 2013, the FASB issued a final standard amending the current criteria for an entity to qualify as an investment company, creating new disclosure requirements and amending the measurement criteria for certain interests in other investment companies. The Company is evaluating the impact of this amendment and will adopt the new guidance on November 1, 2015.

Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity

In March 2013, the FASB issued new guidance on reporting a cumulative translation adjustment (“CTA”) with respect to foreign currency. The new guidance addresses the accounting for a CTA when a parent either sells a part of or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. The Company is evaluating the impact of this change and will adopt the new guidance on November 1, 2014.

Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income

In February 2013, the FASB issued new guidance on reporting amounts reclassified out of accumulated other comprehensive income (“AOCI”). The new guidance does not change the requirements for reporting net income or other comprehensive income in the financial statements, but requires new footnote disclosures regarding the reclassification of AOCI by component into net income. The Company will implement the new disclosure requirements in the first quarter of fiscal 2014.

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Basis of Presentation

9 Months Ended

Jul. 31, 2013

Basis Of Presentation Disclosure [Abstract]

Basis of Presentation

1. Basis of Presentation

In the opinion of management, the accompanying unaudited interim Consolidated Financial Statements of Eaton Vance Corp. (“the Company”) include all adjustments necessary to present fairly the results for the interim periods in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures have been omitted pursuant to such rules and regulations. As a result, these financial statements should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company's latest annual report on Form 10-K.

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Related Party Transactions (Tables)

9 Months Ended

Jul. 31, 2013

Related Party Transactions Table [Abstract]

Summary of related party revenue transactions

		Three Months Ended				Nine Months Ended
		July 31,				July 31,
(in thousands)		2013		2012		2013		2012
Investment advisory and administrative fees	$	214,894	$	183,469	$	608,876	$	555,622
Distribution fees		20,350		19,982		60,268		60,757
Service fees		32,259		30,760		94,521		95,124
Shareholder services fees		752		616		1,840		1,843
Other revenue		442		-		845		-
Total	$	268,697	$	234,827	$	766,350	$	713,346

Summary of sales proceeds and net realized gains (losses) earned on investments

		Three Months Ended				Nine Months Ended
		July 31,				July 31,
(in thousands)		2013		2012		2013		2012
Proceeds from sales	$	2,927	$	16,390	$	42,217	$	56,396
Net realized gains (losses)		180		(189)		5,431		(65)

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Related Party Transactions

9 Months Ended

Jul. 31, 2013

Related Party Transactions Disclosure [Abstract]

Related Party Transactions

20. Related Party Transactions

Funds

The Company is an investment advisor to, and has administrative agreements with, certain sponsored funds, privately offered equity funds and closed-end funds for which certain employees are officers and/or directors. Substantially all of the services to these entities for which the Company earns a fee, including investment advisory, distribution, shareholder and administrative, are provided under contracts that set forth the services to be provided and the fees to be charged. These contracts are subject to annual review and approval by the funds' boards of directors or trustees. Revenue for services provided or related to these funds for the three and nine months endedJuly 31, 2013 and 2012are as follows:

		Three Months Ended				Nine Months Ended
		July 31,				July 31,
(in thousands)		2013		2012		2013		2012
Investment advisory and administrative fees	$	214,894	$	183,469	$	608,876	$	555,622
Distribution fees		20,350		19,982		60,268		60,757
Service fees		32,259		30,760		94,521		95,124
Shareholder services fees		752		616		1,840		1,843
Other revenue		442		-		845		-
Total	$	268,697	$	234,827	$	766,350	$	713,346

For the three months endedJuly 31, 2013 and 2012, the Company had investment advisory agreements with certain sponsored funds pursuant to which the Company contractually waived $2.5 million and $2.1 million of investment advisory fees it was otherwise entitled to receive, respectively. For the nine months ended July 31, 2013 and 2012, the Company waived $6.9 million and $6.7 million, respectively, of investment advisory fees it was otherwise entitled to receive.

Sales proceeds and net realized gains (losses)from investments in sponsored funds classified as available-for-sale for the three and nine months ended July 31, 2013 and 2012are as follows:

		Three Months Ended				Nine Months Ended
		July 31,				July 31,
(in thousands)		2013		2012		2013		2012
Proceeds from sales	$	2,927	$	16,390	$	42,217	$	56,396
Net realized gains (losses)		180		(189)		5,431		(65)

The Company bears the non-advisory expenses of certain sponsored funds for which it earns an all-in management fee and provides subsidies to startup and other smaller sponsored funds to enhance their competitiveness. For the three months endedJuly 31, 2013 and 2012,expenses of $5.5 million and $5.3 million, respectively, were incurred by the Company pursuant to these arrangements. For thenine months endedJuly 31, 2013 and 2012, expenses of $16.2 million and $14.0 million, respectively, were incurred by the Company pursuant to these arrangements.

Included in investment advisory fees and other receivables at July 31, 2013 and October 31,2012 are receivables due from sponsored funds of $92.0 million and $84.4 million, respectively.

Employee Loan Program

The Company has established an Employee Loan Program under which a program maximum of $20.0 million is available for loans to officers (other than executive officers) and other key employees of the Company for purposes of financing the exercise of employee stock options. Loans are written for a seven-year period, at varying fixed interest rates (currently ranging from 0.9 percent to 5.0 percent), are payable in annual installments commencing with the third year in which the loan is outstanding, and are collateralized by the stock issued upon exercise of the option. All loans under the program must be made on or before October 31, 2014.Loans outstanding under the program, which are full recourse in nature,are reflected as notes receivable from stock option exercises in shareholders' equity and amounted to $6.9 million and $4.2million at July 31, 2013 and October 31,2012, respectively.

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Fair Value Measurements (Tables)

9 Months Ended

Jul. 31, 2013

Fair Value Measurements Disclosure Table [Abstract]

Summary of the assets and liabilites measured at fair value on a recurring basis and their assigned levels within the hierarchy.

July 31, 2013
(in thousands)		Level 1		Level 2		Level 3			Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents	$	99,310	$	3,700	$	-		$	-	$	103,010
Investments:
Investment securities, trading:
Cash management assets		-		10,477			-		-		10,477
Debt - consolidated sponsored funds
and separately managed accounts		74,601		73,825			-		-		148,426
Equity - consolidated sponsored funds
and separately managed accounts		52,137		38,085			-		-		90,222
Investment securities, available-for-sale		12,099		5,358		-			-		17,457
Investment in non-consolidated CLO
entity(1)		-		-		-			317		317
Investments in equity method investees(2)		-		-		-			271,044		271,044
Investments, other(3)		-		61		-			7,470		7,531
Derivative instruments		-		1,302		-			-		1,302
Assets of consolidated CLO entity:
Cash equivalents		56,725		-		-			-		56,725
Bank loans and other investments		-		242,946		3,045			-		245,991
Total financial assets	$	294,872	$	375,754	$	3,045		$	278,831	$	952,502
Financial liabilities:
Derivative instruments	$	-	$	6,668	$	-		$	-	$	6,668
Securities sold, not yet purchased		-		1,572		-			-		1,572
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations		-		2,635		288,540			-		291,175
Total financial liabilities	$	-	$	10,875	$	288,540		$	-	$	299,415

October 31, 2012
(in thousands)			Level 1		Level 2		Level 3			Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents		$	16,390	$	139,469	$	-		$	-	$	155,859
Investments:
Investment securities, trading – debt			4,512		66,293			-		-		70,805
Investment securities, trading – equity			87,991		31,457			-		-		119,448
Investment securities, available-for-sale			26,736		4,412		-			-		31,148
Investment in non-consolidated CLO
entity(1)			-		-		-			350		350
Investments in equity method investees(2)			-		-		-			257,652		257,652
Investments, other(3)			-		60		-			7,470		7,530
Derivative instruments			-		2,229		-			-		2,229
Assets of consolidated CLO entity:
Cash equivalents			34,561		-		-			-		34,561
Bank loans and other investments			98		428,282		2,203			-		430,583
Total financial assets		$	170,288	$	672,202	$	2,203		$	265,472	$	1,110,165
Financial liabilities:
Derivative instruments		$	-	$	788	$	-		$	-	$	788
Securities sold, not yet purchased			-		26,142		-			-		26,142
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations			-		2,659		443,946			-		446,605
Total financial liabilities		$	-	$	29,589	$	443,946		$	-	$	473,535
(1)	The Company’s investment in this CLO entity is measured at fair value on a non-recurring basis using Level 3 inputs.
	The investment is carried at amortized cost unless facts and circumstances indicate that the investment has been
	impaired, at which time the investment is written down to fair value. There was no re-measurement of this asset during
	the nine month period ended July 31, 2013 or the twelve month period ended October 31, 2012.
(2)	Investments in equity method investees are not measured at fair value in accordance with GAAP.
(3)	Investments, other include investments carried at cost that are not measured at fair value in accordance with GAAP.

Summary of fair value transfers between level 1 and level 2

			Three Months Ended July 31,				Nine Months Ended July 31,
(in thousands)			2013		2012		2013		2012
Transfers from Level 1 into Level 2(1)		$	237	$	7,861	$	43	$	18,104
Transfers from Level 2 into Level 1(2)			149		-		1,332		-
(1)	Transfers from Level 1 into Level 2 primarily represent debt and equity securities that were valued based on prices of similar
	securities because unadjusted quoted market prices were not available in the current period.
(2)	Transfers from Level 2 into Level 1 primarily represent debt and equity securities due to the availability of unadjusted quoted
	market prices in active markets.

Summary of the changes in Level 3 assets and liabilities measured at fair value on a recurring basis

			Three Months Ended				Three Months Ended
			July 31, 2013				July 31, 2012
(in thousands)			Bank loans and other investments of consolidated CLO entity		Senior and subordinated note obligations of consolidated CLO entity		Bank loans and other investments of consolidated CLO entity		Senior and subordinated note obligations of consolidated CLO entity
Beginning balance		$	2,819	$	365,460	$	2,150	$	483,062
Net gains (losses) on investments and
	note obligations included in net
	income(1)		(101)		(720)		(139)		(8,599)
Principal paydown			0		(76,200)		0		-
Transfers into Level 3(2)			327		-		122		-
Transfers out of Level 3(3)			-		-		(15)		-
Ending balance		$	3,045	$	288,540	$	2,118	$	474,463
Change in unrealized (losses) gains
	includedin net income relating to
	assets and liabilities held	$	(101)	$	(720)	$	(139)	$	(8,599)

				Nine Months Ended				Nine Months Ended
				July 31, 2013				July 31, 2012
(in thousands)				Bank loans and other investments of consolidated CLO entity		Senior and subordinated note obligations of consolidated CLO entity		Bank loans and other investments of consolidated CLO entity		Senior and subordinated note obligations of consolidated CLO entity
Beginning balance			$	2,203	$	443,946	$	5,910	$	477,699
Net gains (losses) on investments and
	note obligations included in net
	income(1)			(80)		4,536		(139)		(603)
Principal paydown				0		(159,942)		0		-
Transfers into Level 3(2)				922		-		137		-
Transfers out of Level 3(3)				-		-		(3,790)		(2,633)
Ending balance			$	3,045	$	288,540	$	2,118	$	474,463
Change in unrealized (losses) gains
	includedin net income relating to
	assets and liabilities held		$	(80)	$	4,536	$	(139)	$	(603)
(1)		Substantially all net gains and losses on investments and note obligations attributable to the assets and borrowings of the Company's
		consolidated CLO entity are allocated to non-controlling and other beneficial interests on the Company's Consolidated Statements of Income.
(2)		Transfers into Level 3 were the result of a reduction in the availability of significant observable inputs used in determining the fair value
		of a second lien term loan. Fair value was determined utilizing a discounted cash flow analysis.
(3)		Transfers out of Level 3 into Level 2 were due to an increase in the observability of the inputs used in determining the fair value of certain
		instruments.

Summary of quantitative information about Level 3 fair value measurements

July 31, 2013			Valuation	Unobservable
($ in thousands)		Fair Value	Technique	Inputs(1)	Range
Liabilities of consolidated CLO entity:
				Prepayment rate	30 percent
				Recovery rate	70 percent
Senior and subordinated				Default rate	200 bps
note obligations	$	288,540	Income approach	Discount rate	110-475 bps

	October 31, 2012			Valuation	Unobservable
	($ in thousands)		Fair Value	Technique	Inputs(1)	Range
	Liabilities of consolidated CLO entity:
					Prepayment rate	30 percent
					Recovery rate	70 percent
	Senior and subordinated				Default rate	200 bps
	note obligations	$	443,946	Income approach	Discount rate	135-700 bps
(1)	Discount rate refers to spread over LIBOR. Lower spreads relate to the more senior tranches in the CLO note structure;
	higher spreads relate to the less senior tranches. The default rate refers to the constant annual default rate. Recovery rate is the
	expected recovery of defaulted amounts received through asset sale or recovery through bankruptcy restructuring or other
	settlement processes. Prepayment rate is the rate at which the underlying collateral is expected to repay principal.

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Stock Based Compensation Plans (Tables)

9 Months Ended

Jul. 31, 2013

Stock Based Compensation Disclosure Table [Abstract]

Summary of stock-based compensation expense recognized by plan

		Three Months Ended				Nine Months Ended
		July 31,				July 31,
(in thousands)		2013		2012		2013		2012
2008 Plan:
Stock options	$	3,316	$	6,314	$	10,841	$	21,758
Restricted shares		8,102		6,014		24,539		18,021
Phantom stock units		109		67		382		190
Employee Stock Purchase Plan		859		318		1,235		426
Incentive Plan – Stock Alternative		110		25		308		151
Atlanta Capital Plan		352		232		1,055		695
Parametric Plan		823		595		2,468		1,768
Total stock-based compensation expense	$	13,671	$	13,565	$	40,828	$	43,009

Weighted-average grant date fair value of options granted

	2013	2012
Weighted-average grant date fair value
of options granted	$7.69	$6.69

Assumptions used to determine the weighted average grant date fair value of options granted

	2013	2012
Assumptions:
Dividend yield	2.8% to 5.5%	2.9% to 3.1%
Volatility	36% to 37%	35% to 36%
Risk-free interest rate	1.2% to 2.1%	1.0% to 1.6%
Expected life of options	7.1	7.2

Summary of stock option transactions

(share and intrinsic value figures in thousands)	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Options outstanding, beginning of period	27,653	$	26.90
Granted	2,271		28.41
Exercised	(4,703)		21.05
Forfeited/expired	(237)		29.70
Options outstanding, end of period	24,984	$	28.11	4.9	$	328,574
Options exercisable, end of period	16,114	$	28.98	3.4	$	204,875
Vested or expected to vest	24,629	$	28.13	4.9	$	323,626

Summary of restricted share activity

		Weighted-
		Average
		Grant
		Date Fair
(share figures in thousands)	Shares	Value
Unvested, beginning of period	3,233	$	26.43
Granted	1,625		29.27
Vested	(767)		26.32
Forfeited	(133)		27.98
Unvested, end of period	3,958	$	27.60

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Related Party Transactions (Details) (USD $)	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012	Oct. 31, 2012
Sponsored Funds [Abstract]
Investment advisory and administrative fees	$ 214,894,000	$ 183,469,000	$ 608,876,000	$ 555,622,000
Distribution fees	20,350,000	19,982,000	60,268,000	60,757,000
Service fees	32,259,000	30,760,000	94,521,000	95,124,000
Shareholder services fees	752,000	616,000	1,840,000	1,843,000
Other revenue	442,000		845,000
Total	268,697,000	234,827,000	766,350,000	713,346,000
Investment advisory fees waived by the Company	2,500,000	2,100,000	6,900,000	6,700,000
Proceeds from sales	2,927,000	16,390,000	42,217,000	56,396,000
Net realized gains (losses)	180,000	(189,000)	5,431,000	(65,000)
Related party expenses	5,500,000	5,300,000	16,200,000	14,000,000
Related party accounts receivable	92,000,000		92,000,000		84,400,000
Employee Loan Program
Maximum loan amount available under the plan	$ 20,000,000		$ 20,000,000
Minimum fixed borrowing rate under the plan			0.90%
Maximum fixed borrowing rate under the plan			5.00%

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Acquisitions (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	9 Months Ended
	Jul. 31, 2013	Jul. 31, 2013
Clifton Group [Member]
Business Acquisition Purchase Price Allocation [Line Items]
Business acquisition cost of acquired entity cash paid	$ 72.3	$ 72.3
Business acquisition cost of acquired entity other noncash consideration	12.8	12.8
Business acquisition purchase price allocation amortizable intangible assets	24.5	24.5
Business acquisition purchase price allocation goodwill amount	60.1	60.1
Business acquisition revenues	7.2	15.6
Business acquisition earnings	2.1	4.3
Finite-Lived Intangible Assets, Weighted-Average Useful Life		18 years
Parametric Portfolio Associates [Member]
Business Acquisition Contingent Consideration [Line Items]
Minority interest ownership percentage purchased by parent	3.40%	3.40%
Company's increase in profit interest percentage, during the period	5.70%	5.70%
Non-controlling interest holders profits interest, end of period	4.90%	4.90%
Profits interest granted to non-controlling interest holders	0.76%	0.76%
Company's profit interest percentage, end of period	93.30%	93.30%
Purchase of non-controlling interests		43.5
Company's capital ownership interest at the end of the period	98.10%	98.10%
Noncontrolling capital and profits interest issued in acquisition	1.90%	1.90%
Tax Advantaged Bond Strategies [Member]
Business Acquisition Contingent Consideration [Line Items]
Contingent payment made during the period	14.1	14.1
Goodwill acquired		14.1
Parametric Risk Advisors [Member]
Business Acquisition Contingent Consideration [Line Items]
Minority interest ownership percentage purchased by parent	10.00%	10.00%
Company's capital ownership interest, beginning of period	70.00%	70.00%
Company's capital ownership interest at the end of the period	80.00%	80.00%
Non-controlling interest call option recorded in other liabilities	$ 3.1	$ 3.1
Settlement date		Nov. 01, 2013

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Derivative Financial Instruments Designated as Cash Flow Hedges (Details) (USD $)	9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012
Other Derivative Financial Instruments not Designated for Hedge Accounting
2017 senior notes principal value repurchased	$ 250,000,000
Notional amount of foreign exchange contracts of other derivative financial instruments not designated for hedge accounting	53,600,000
Notional amount of stock index futures contracts of other derivative financial instruments not designated for hedge accounting	192,200,000
Notional amount of commodity futures contracts of other derivative financial instruments not designated for hedge accounting	12,600,000
Total number of counterparties of foreign exchange contracts Of Other derivatives not designated as hedging instruments	1
Total number of stock index futures counterparties of other derivatives not designated as hedging instruments	1
Total number of commodity futures counterparties of other derivatives not designated as hedging instruments	1
Senior Notes 2023 [Member]
Derivative Cash Flow Hedge [Line Items]
Prinicipal amount of debt issued	325,000,000
Interest rate on unsecured senior note debt	3.625%
Gain reclassified to interest expense on derivative financial instruments designated as cash flow hedges	25,000
Gain (loss) expected to be reclassified as interest expense on derivative financial instruments designated as cash flow hedges, over the next twelve months	200,000
Gain on hedge from interest rate swap	2,000,000
Senior Notes 2017 [Member]
Derivative Cash Flow Hedge [Line Items]
Gain (loss) expected to be reclassified as interest expense on derivative financial instruments designated as cash flow hedges, over the next twelve months	(200,000)
Unamortized loss on interest rate lock	(900,000)
Loss reclassified to interest expense on derivative financial instruments designated as cash flow hedges	300,000	300,000
Accelerated interest expense recognized resulting from the retirement of the portion of the 2017 notes	$ 900,000

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Investment Securities, Available-for-Sale (Details) (USD $)	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013 Available-for-sale Securities [Member]	Oct. 31, 2012 Available-for-sale Securities [Member]
Available For Sale Securities Gross Realized Gain (Loss) Net Abstract
Available-for-sale securities realized gains	$ 415,000	$ 41,000	$ 5,666,000	$ 288,000
Available-for-sale securities realized losses	(235,000)	(230,000)	(235,000)	(353,000)
Available-for-sale securities net realized gains (losses)	180,000	(189,000)	5,431,000	(65,000)
Available-for-sale Securities, Gross Unrealized Gain (Loss) [Abstract]
Net unrealized holding gains and (losses) on investment securities, available-for-sale, included in other comprehensive income	600,000	(300,000)	(2,300,000)	2,500,000
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale securities at cost					10,939,000	22,331,000
Available-for-sale securities unrealized gross gains					6,609,000	8,835,000
Available-for-sale securities unrealized gross losses					(91,000)	(18,000)
Available-for-sale securities at fair value					17,457,000	31,148,000
Available-for-sale securities fair value associated with the unrealized losses					$ 1,200,000

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Consolidated Balance Sheets (Parentheticals) (USD $)	Jul. 31, 2013	Oct. 31, 2012
Consolidated Balance Sheets Parenthetical
Voting Common Stock, par value per share	$ 0.00390625
Voting Common Stock Authorized	1,280,000
Voting Common Stock Issued and Outstanding	399,240	413,167
Non Voting Common Stock, par value per share	$ 0.00390625
Non Voting Common Stock Authorized	190,720,000
Non Voting Common Stock Issued and Outstanding	120,938,397	115,878,384

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Fair Value Measurements

9 Months Ended

Jul. 31, 2013

Fair Value Measurements Disclosure [Abstract]

Fair Value Measurements

6. Fair Value Measurements

The following tables summarize financial assets and liabilities measured at fair value on a recurring basis and their assigned levels within the valuation hierarchy at July 31, 2013 and October 31, 2012:

July 31, 2013
(in thousands)		Level 1		Level 2		Level 3			Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents	$	99,310	$	3,700	$	-		$	-	$	103,010
Investments:
Investment securities, trading:
Cash management assets		-		10,477			-		-		10,477
Debt - consolidated sponsored funds
and separately managed accounts		74,601		73,825			-		-		148,426
Equity - consolidated sponsored funds
and separately managed accounts		52,137		38,085			-		-		90,222
Investment securities, available-for-sale		12,099		5,358		-			-		17,457
Investment in non-consolidated CLO
entity(1)		-		-		-			317		317
Investments in equity method investees(2)		-		-		-			271,044		271,044
Investments, other(3)		-		61		-			7,470		7,531
Derivative instruments		-		1,302		-			-		1,302
Assets of consolidated CLO entity:
Cash equivalents		56,725		-		-			-		56,725
Bank loans and other investments		-		242,946		3,045			-		245,991
Total financial assets	$	294,872	$	375,754	$	3,045		$	278,831	$	952,502
Financial liabilities:
Derivative instruments	$	-	$	6,668	$	-		$	-	$	6,668
Securities sold, not yet purchased		-		1,572		-			-		1,572
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations		-		2,635		288,540			-		291,175
Total financial liabilities	$	-	$	10,875	$	288,540		$	-	$	299,415

October 31, 2012
(in thousands)			Level 1		Level 2		Level 3			Other Assets Not Held at Fair Value		Total
Financial assets:
Cash equivalents		$	16,390	$	139,469	$	-		$	-	$	155,859
Investments:
Investment securities, trading – debt			4,512		66,293			-		-		70,805
Investment securities, trading – equity			87,991		31,457			-		-		119,448
Investment securities, available-for-sale			26,736		4,412		-			-		31,148
Investment in non-consolidated CLO
entity(1)			-		-		-			350		350
Investments in equity method investees(2)			-		-		-			257,652		257,652
Investments, other(3)			-		60		-			7,470		7,530
Derivative instruments			-		2,229		-			-		2,229
Assets of consolidated CLO entity:
Cash equivalents			34,561		-		-			-		34,561
Bank loans and other investments			98		428,282		2,203			-		430,583
Total financial assets		$	170,288	$	672,202	$	2,203		$	265,472	$	1,110,165
Financial liabilities:
Derivative instruments		$	-	$	788	$	-		$	-	$	788
Securities sold, not yet purchased			-		26,142		-			-		26,142
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations			-		2,659		443,946			-		446,605
Total financial liabilities		$	-	$	29,589	$	443,946		$	-	$	473,535
(1)	The Company’s investment in this CLO entity is measured at fair value on a non-recurring basis using Level 3 inputs.
	The investment is carried at amortized cost unless facts and circumstances indicate that the investment has been
	impaired, at which time the investment is written down to fair value. There was no re-measurement of this asset during
	the nine month period ended July 31, 2013 or the twelve month period ended October 31, 2012.
(2)	Investments in equity method investees are not measured at fair value in accordance with GAAP.
(3)	Investments, other include investments carried at cost that are not measured at fair value in accordance with GAAP.

Valuation methodologies

The following is a description of the valuation methodologies used for financial assets and liabilities measured at fair value on a recurring basis as well as the general classification of those assets and liabilities pursuant to the valuation hierarchy:

Cash equivalents

The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Cash equivalents consist of investments in money market funds, government and agency securities, commercial paper and certificates of deposit. Money market funds are valued using published net asset values and are classified as Level 1 within the valuation hierarchy. Government and agency securities are valued based upon quoted market prices for similar assets in active markets, quoted prices for identical or similar assets that are not active, and inputs other than quoted prices that are observable or corroborated by observable market data. Depending on the nature of the inputs, these assets are generally classified as Level 1 or 2 within the valuation hierarchy. The carrying amounts of commercial paper and certificates of deposit are valued at amortized cost, which approximates market value, and are generally classified as Level 2 within the valuation hierarchy.

Investment securities, trading – cash management assets

Investment securities, trading – corporate cash management assets consist of certificates of deposit, commercial paper and corporate debt obligations with original maturities from three months to twenty-four months. Debt obligations are generally valued on the basis of valuations provided by third-party pricing services, as derived from such services' pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and asked prices, broker-dealer quotations, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Depending on the nature of the inputs, investment securities, trading – corporate cash management assets are generally classified as Level 1 or 2 within the valuation hierarchy.

Investment securities, trading – debt-consolidated funds and separately managed accounts

Investment securities, trading – debt, consist of debt obligations held in the portfolios of consolidated sponsored funds and separately managed accounts. Debt obligations (including short-term obligations with a remaining maturity of more than sixty days) are generally valued on the basis of valuations provided by third-party pricing services, as derived from such services' pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and asked prices, broker-dealer quotations, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term obligations purchased with a remaining maturity of sixty days or less (excluding those that are non-U.S. denominated, which typically are valued by a third-party pricing service or dealer quotes) are generally valued at amortized cost, which approximates market value. Depending upon the nature of the inputs, investment securities, trading – debt, are generally classified as Level 1 or 2 within the valuation hierarchy.

Investment securities, trading – equity-consolidated funds and separately managed accounts

Investment securities, trading – equity, consist of foreign and domestic equity securities held in the portfolios of consolidated sponsored funds and separately managed accounts. Equity securities listed on a U.S. securities exchange generally are valued at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and asked prices on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ Global or Global Select market generally are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing prices or closing quotations are not available are valued at the mean between the latest available bid and asked prices. When valuing foreign equity securities that meet certain criteria as established by our fair value pricing service, the portfolios use a fair value service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities. The service utilizes a multi-factor model that considers such information as an issue's local closing price and post-closing fluctuations in relevant general market and sector indices, currencies, depositary receipts and futures, as applicable. The size of the adjustment is determined by the observed changes in these factors since the close of the applicable foreign market. The pricing service uses a multiple regression methodology and back testing to validate the quality and correlations of their evaluations. In addition, the Company performs its own independent back test review of fair values versus the subsequent local market opening prices when available. Depending upon the nature of the inputs, investment securities, trading – equity are generally classified as Level 1 or 2 within the valuation hierarchy.

Investment securities, available-for-sale

Investment securities, available-for-sale, consist of investments in sponsored mutual funds and privately offered equity funds. Sponsored mutual funds that are listed on an active exchange are valued using published net asset values and are classified as Level 1 within the valuation hierarchy. Investments in sponsored privately offered equity funds and portfolios that are not listed on an active exchange but have net asset values that are comparable to mutual funds and have no redemption restrictions are classified as Level 2 within the valuation hierarchy.

Derivative instruments

Derivative instruments, which include foreign exchange contracts, stock index futures contracts and commodity futures contracts, are recorded as either other assets or other liabilities on the Company's Consolidated Balance Sheets. Foreign exchange contracts are valued by interpolating a value using the spot foreign exchange rate and forward points, which are based on spot rate and currency interest rate differentials. Index futures contracts and commodity futures contracts are valued using a third-party pricing service that determines fair value based on bid and ask prices. Derivative instruments are generally classified as Level 2 within the valuation hierarchy.

Assets of consolidated CLO entity

Assets of the consolidated CLO entity include investments in money market funds, equity securities, debt securities, bank loans and warrants. Fair value is determined utilizing unadjusted quoted market prices when available. Interests in senior floating-rate loans for which reliable market quotations are readily available are valued generally at the average mid-point of bid and ask quotations obtained from a third-party pricing service. Fair value may also be based upon valuations obtained from independent third-party brokers or dealers utilizing matrix pricing models that consider information regarding securities with similar characteristics. In certain instances, fair value has been determined utilizing discounted cash flow analyses or single broker non-binding quotes. Depending on the nature of the inputs, these assets are classified as Level 1, 2 or 3 within the valuation hierarchy.

Securities sold, not yet purchased

Securities sold, not yet purchased, are recorded as other liabilities on the Company's Consolidated Balance Sheets and are valued by a third-party pricing service that determines fair value based on bid and ask prices. Securities sold, not yet purchased, are generally classified as Level 2 within the valuation hierarchy.

Liabilities of consolidated CLO entity

Liabilities of the consolidated CLO entity include debt securities and senior and subordinated note obligations of the consolidated CLO entity. The debt securities are valued based upon quoted prices for identical or similar liabilities that are not activeand inputs other than quoted prices that are observable or corroborated by observable market data.The senior and subordinated notes are valued based upon model-based valuation techniques in which one or more significant inputs are unobservable in the market. Depending on the nature of the inputs, these liabilities are classified as Level 2 or 3 within the valuation hierarchy.

Transfers in and/or out of Levels

The following table summarizes fair value transfers between Level 1 and Level 2 for the three and nine months ended July 31, 2013 and 2012:

			Three Months Ended July 31,				Nine Months Ended July 31,
(in thousands)			2013		2012		2013		2012
Transfers from Level 1 into Level 2(1)		$	237	$	7,861	$	43	$	18,104
Transfers from Level 2 into Level 1(2)			149		-		1,332		-
(1)	Transfers from Level 1 into Level 2 primarily represent debt and equity securities that were valued based on prices of similar
	securities because unadjusted quoted market prices were not available in the current period.
(2)	Transfers from Level 2 into Level 1 primarily represent debt and equity securities due to the availability of unadjusted quoted
	market prices in active markets.

Level 3 assets and liabilities

The following table shows a reconciliation of the beginning and ending fair value measurements of assets and liabilities that are valued on a recurring basis and classified as Level 3 for the three and nine months ended July 31, 2013 and 2012:

			Three Months Ended				Three Months Ended
			July 31, 2013				July 31, 2012
(in thousands)			Bank loans and other investments of consolidated CLO entity		Senior and subordinated note obligations of consolidated CLO entity		Bank loans and other investments of consolidated CLO entity		Senior and subordinated note obligations of consolidated CLO entity
Beginning balance		$	2,819	$	365,460	$	2,150	$	483,062
Net gains (losses) on investments and
	note obligations included in net
	income(1)		(101)		(720)		(139)		(8,599)
Principal paydown			0		(76,200)		0		-
Transfers into Level 3(2)			327		-		122		-
Transfers out of Level 3(3)			-		-		(15)		-
Ending balance		$	3,045	$	288,540	$	2,118	$	474,463
Change in unrealized (losses) gains
	includedin net income relating to
	assets and liabilities held	$	(101)	$	(720)	$	(139)	$	(8,599)

				Nine Months Ended				Nine Months Ended
				July 31, 2013				July 31, 2012
(in thousands)				Bank loans and other investments of consolidated CLO entity		Senior and subordinated note obligations of consolidated CLO entity		Bank loans and other investments of consolidated CLO entity		Senior and subordinated note obligations of consolidated CLO entity
Beginning balance			$	2,203	$	443,946	$	5,910	$	477,699
Net gains (losses) on investments and
	note obligations included in net
	income(1)			(80)		4,536		(139)		(603)
Principal paydown				0		(159,942)		0		-
Transfers into Level 3(2)				922		-		137		-
Transfers out of Level 3(3)				-		-		(3,790)		(2,633)
Ending balance			$	3,045	$	288,540	$	2,118	$	474,463
Change in unrealized (losses) gains
	includedin net income relating to
	assets and liabilities held		$	(80)	$	4,536	$	(139)	$	(603)
(1)		Substantially all net gains and losses on investments and note obligations attributable to the assets and borrowings of the Company's
		consolidated CLO entity are allocated to non-controlling and other beneficial interests on the Company's Consolidated Statements of Income.
(2)		Transfers into Level 3 were the result of a reduction in the availability of significant observable inputs used in determining the fair value
		of a second lien term loan. Fair value was determined utilizing a discounted cash flow analysis.
(3)		Transfers out of Level 3 into Level 2 were due to an increase in the observability of the inputs used in determining the fair value of certain
		instruments.

The following table shows the valuation technique and significant unobservable inputs utilized in the fair value measurement ofLevel 3 liabilities at July 31, 2013 and October 31, 2012:

July 31, 2013			Valuation	Unobservable
($ in thousands)		Fair Value	Technique	Inputs(1)	Range
Liabilities of consolidated CLO entity:
				Prepayment rate	30 percent
				Recovery rate	70 percent
Senior and subordinated				Default rate	200 bps
note obligations	$	288,540	Income approach	Discount rate	110-475 bps

	October 31, 2012			Valuation	Unobservable
	($ in thousands)		Fair Value	Technique	Inputs(1)	Range
	Liabilities of consolidated CLO entity:
					Prepayment rate	30 percent
					Recovery rate	70 percent
	Senior and subordinated				Default rate	200 bps
	note obligations	$	443,946	Income approach	Discount rate	135-700 bps
(1)	Discount rate refers to spread over LIBOR. Lower spreads relate to the more senior tranches in the CLO note structure;
	higher spreads relate to the less senior tranches. The default rate refers to the constant annual default rate. Recovery rate is the
	expected recovery of defaulted amounts received through asset sale or recovery through bankruptcy restructuring or other
	settlement processes. Prepayment rate is the rate at which the underlying collateral is expected to repay principal.

Valuation process

The Company elected the fair value option for both the collateral assets held and senior and subordinated notes issued by its consolidated CLO entity upon consolidation to mitigate any accounting inconsistencies between the carrying value of the assets held to provide cash flows for the note obligations and the carrying value of those note obligations.

Senior and subordinated note obligations of the Company's consolidated CLO entity are issued in various tranches with different risk profiles. The notes are valued on a quarterly basis by the Company's bank loan investment team utilizing an income approach that projects the cash flows of the collateral assets using the team's projected default rate, prepayment rate, recovery rate and discount rate, as well as observable assumptions about market yields, collateral reimbursement assumptions, callability and other market factors that vary based on the nature of the investments in the underlying collateral pool. Once the undiscounted cash flows of the collateral assets have been determined, the bank loan team applies appropriate discount rates that it believes a reasonable market participant would use to determine the discounted cash flow valuation of the notes. The bank loan team routinely monitors market conditions and model inputs for cyclical and secular changes in order to identify any material factors that could influence the Company's valuation method. The bank loan team reports directly to the Chief Income Investment Officer.

Sensitivity to changes in significant unobservable inputs

For senior and subordinated notes issued by the Company's consolidated CLO entity, a change in the assumption used for the probability of default is generally accompanied by a directionally similar change in the assumption used for discount rates. Significant increases in either of these inputs would result in a significantly lower measurement of fair value.

Although the Company believes the valuation methods described above are appropriate, the use of different methodologies or assumptions to determine fair value could result in a different estimate of fair value at the reporting date.

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Consolidated Statements of Comprehensive Income (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Consolidated Statements of Comprehensive Income
Net income	$ 25,050	$ 62,687	$ 158,297	$ 190,327
Other comprehensive income (loss):
Change in unrealized gains on derivative instruments, net of income taxes of $788, $0, $788 and $0, respectively	1,227		1,227
Amortization of net (gains) losses on derivatives, net of income taxes of $320, $39, $399 and $118, respectively	698	73	842	217
Unrealized holding gains (losses) on available-for-sale investments, net of income taxes of $(229), $95, $874 and $(932), respectively	370	(156)	(1,426)	1,526
Foreign currency translation adjustments, net of income taxes of $1,760, $233, $2,386 and $252, respectively	(2,860)	(384)	(3,880)	(453)
Other comprehensive (loss) income, net of tax	(565)	(467)	(3,237)	1,290
Total comprehensive income	24,485	62,220	155,060	191,617
Comprehensive income attributable to non-controlling and other beneficial interests	(1,847)	(12,481)	(21,608)	(39,980)
Total comprehensive income attributable to Eaton Vance Corp. shareholders	$ 22,638	$ 49,739	$ 133,452	$ 151,637

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Debt (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Jul. 31, 2013
Debt Disclosure Details [Line Items]
2017 senior notes principal value repurchased	$ 250.0
Senior Notes 2023 [Member]
Debt Disclosure Details [Line Items]
Prinicipal amount of debt issued	325.0
Net proceeds from issuance of long-term debt	321.3
Interest rate on unsecured senior note debt	3.625%
Unsecured senior note debt maturity date	Jun. 15, 2023
Tendered Notes [Member]
Debt Disclosure Details [Line Items]
2017 senior notes principal value repurchased	250.0
Consideration paid to the holders of the tendered notes	301.5
Reference interest rate	0.625 percent U.S. Treasury Notes due September 30, 2017
Treasury spread	0.30%
Closing date tender offer	Jun. 28, 2013
Date of last interest payment	Apr. 02, 2013
Call premium on debt extinguishment	51.5
Accrued interest portion of payment made to noteholders upon repayment of long-term debt	$ 3.9

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jul. 31, 2013	Oct. 31, 2012
Assets
Cash and cash equivalents	$ 379,414	$ 462,076
Investment advisory fees and other receivables	161,237	133,589
Investments	545,474	486,933
Assets of consolidated collateralized loan obligation ("CLO") entity:
Cash and cash equivalents	58,300	36,758
Bank loans and other investments	245,991	430,583
Other assets	2,237	1,107
Deferred sales commissions	18,859	19,336
Deferred income taxes	57,422	51,234
Equipment and leasehold improvements, net	49,713	54,889
Intangible assets, net	76,892	59,228
Goodwill	228,876	154,636
Other assets	85,942	89,122
Total assets	1,910,357	1,979,491
Liabilities:
Accrued compensation	133,686	145,338
Accounts payable and accrued expenses	58,645	59,397
Dividend payable	24,273	23,250
Debt	573,460	500,000
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations	291,175	446,605
Other liabilities	421	766
Other Liabilities	77,411	91,785
Total liabilities	1,159,071	1,267,141
Commitments and contingencies
Temporary Equity:
Redeemable non-controlling interests	97,051	98,765
Permanent Equity:
Voting Common Stock, par value $0.00390625 per share: Authorized, 1,280,000 shares Issued and outstanding, 399,240 and 413,167 shares, respectively	2	2
Non-Voting Common Stock, par value $0.00390625 per share: Authorized, 190,720,000 shares Issued and outstanding, 120,938,397 and 115,878,384 shares, respectively	472	453
Additional paid-in capital	134,464	26,730
Notes receivable from stock option exercises	(6,861)	(4,155)
Accumulated other comprehensive income	686	3,923
Appropriated retained earnings	13,107	18,699
Retained earnings	511,034	566,420
Total Eaton Vance Corp. shareholders' equity	652,904	612,072
Non-redeemable non-controlling interests	1,331	1,513
Total permanent equity	654,235	613,585
Total liabilities, temporary equity and permanent equity	$ 1,910,357	$ 1,979,491

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Derivative Financial Instruments Not Designated for Hedge Accounting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012	Oct. 31, 2012
Foreign Exchange Contracts [Member]
Derivative Instruments Not Designated As Hedging Instruments [Line Items]
Other assets fair value	$ 767		$ 767		$ 226
Other liabilities fair value	90		90		300
Net gains (losses) recognized	1,212	299	2,406	727
Stock Index Futures Contracts [Member]
Derivative Instruments Not Designated As Hedging Instruments [Line Items]
Other assets fair value	202		202		1,505
Other liabilities fair value	6,407		6,407		367
Net gains (losses) recognized	(3,028)	616	(21,939)	(9,285)
Commodity Futures Contracts [Member]
Derivative Instruments Not Designated As Hedging Instruments [Line Items]
Other assets fair value	333		333		498
Other liabilities fair value	171		171		121
Net gains (losses) recognized	483	56	1,177	1,069
Interest Rate Contract [Member]
Derivative Instruments Not Designated As Hedging Instruments [Line Items]
Net gains (losses) recognized	(3,075)		(3,075)
Total [Member]
Derivative Instruments Not Designated As Hedging Instruments [Line Items]
Other assets fair value	1,302		1,302		2,229
Other liabilities fair value	6,668		6,668		788
Net gains (losses) recognized	$ (4,408)	$ 971	$ (21,431)	$ (7,489)

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Significant Accounting Policies (Policy)

9 Months Ended

Jul. 31, 2013

Significant Accounting Policies Policy [Abstract]

Basis of presentation policy

In the opinion of management, the accompanying unaudited interim Consolidated Financial Statements of Eaton Vance Corp. (“the Company”) include all adjustments necessary to present fairly the results for the interim periods in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures have been omitted pursuant to such rules and regulations. As a result, these financial statements should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company's latest annual report on Form 10-K.

Principles of consolidation policy

The Consolidated Financial Statements include the accounts of the Company and its controlled affiliates. The Company consolidates any voting interest entity in which the Company's ownership exceeds 50 percent or where the Company has control. In addition, the Company consolidates any variable interest entity (“VIE”)(including the collateralized loan obligation (“CLO”) entityreferred to in Note 9) for which the Company is considered the primary beneficiary. The Company recognizesnon-controlling and other beneficial interests in consolidated affiliates in which the Company's ownership is less than 100 percent. All intercompany accounts and transactions have been eliminated in consolidation.

From time to time, the Company may maintain a controlling interest in an Eaton Vance open-end registered investment company (a “sponsored fund”). Upon consolidation, the Company retains the specialized accounting treatment of the sponsored fund. Under the specialized accounting guidance for investment companies,underlying investments held by consolidated sponsored funds are carried at fair value, with corresponding changes in fair value reflected in gains and other investment income, net, in the Company's Consolidated Statements of Income.

With limited exceptions, each of the Company's sponsored funds is organized as a separately managed component (or “series”) of a series trust. All assets of a series irrevocably belong to that series and are subject to the liabilities of that series; under no circumstances are the liabilities of one series payable by another series. Series trusts themselves have no equity investment at risk, but decisions regarding the trustees of the trust and certain key activities of each sponsored fund within the trust, such as appointment of each sponsored fund's investment adviser, typically reside at the trust level. As a result, shareholders of a sponsored fund that is organized as a series of a series trust lack the ability to control the key decision-making processes that most directly affect the performance of the sponsored fund. Accordingly, the Company believes that each trust is a VIE and each sponsored fund is a silo of a VIE that also meets the definition of a VIE. Having concluded that each silo is a VIE, the primary beneficiary evaluation defaults to an analysis of economic interest. The Company typically holds the majority of the shares of a sponsored fund corresponding to a majority economic interest during the seed investment stage when the fund's investment track record is being established or when the fund is in the early stages of soliciting third-party investors. The Company consolidates the fund as primary beneficiary during this period. While the sponsored fund is consolidated, fee revenue is recorded, but is eliminated in consolidation.

When the Company is no longer deemed to control a sponsored fund, typically when either the Company redeems its shares or shares held by third parties exceed the number of shares held by the Company, the Company deconsolidates the sponsored fund and removes the related assets, liabilities and non-controlling interests from balance sheet accounts and classifies the Company's remaining investment as either an equity method investment or an available-for-sale investment as applicable. Because consolidated sponsored funds utilize fair-value measurements, there is no incremental gain or loss recognized upon deconsolidation.

The extent of the Company's exposure to loss with respect to a consolidated sponsored fund is the amount of the Company's investment in the sponsored fund. The Company is not obligated to provide financial support to sponsored funds, and the assets of sponsored funds can only be used to settle obligations of the sponsored funds. Beneficial interest holders of sponsored funds do not have recourse to the general credit of the Company.

Income tax policy

The Company records a valuation allowance when necessary to reduce deferred tax assets to an amount that is more likely than not to be realized.

Stock-based compensation policy

The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option valuation model. The Black-Scholes option valuation model incorporates assumptions as to dividend yield, volatility, an appropriate risk-free interest rate and the expected life of the option. Many of these assumptions require management's judgment. The Company's stock volatility assumption is based upon its historical stock price fluctuations. The Company uses historical data to estimate option forfeiture rates and the expected term of options granted. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve at the time of grant.

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Non-operating Income (Expense)

9 Months Ended

Jul. 31, 2013

Nonoperating Income (Expense) [Abstract]

Non-operating Income (Expense)

15. Non-operating Income (Expense)

The components of non-operating income (expense)for the three and nine months ended July 31, 2013 and 2012 were as follows:

			Three Months Ended				Nine Months Ended
			July 31,					July 31,
(in thousands)				2013		2012		2013		2012
Non-operating income (expense):
	Interest and other income		$	909	$	1,581	$	4,936	$	5,274
	Net (losses) gains on investments and derivatives			(8,902)		106		(2,676)		7,786
	Net foreign currency (losses) gains			(34)		240		(37)		(160)
	(Losses) gains and other investment income, net			(8,027)		1,927		2,223		12,900
	Interest expense			(9,167)		(8,525)		(26,309)		(25,350)
	Loss on extinguishment of debt			(52,886)		-		(52,886)		-
	Other income (expense) of consolidated
		CLO entity:
		Interest income		3,162		5,469		12,078		16,681
		Net (losses) gains on bank loans,
		other investments and note obligations		(1,458)		7,403		(4,197)		15,366
		Gains and other investment income, net		1,704		12,872		7,881		32,047
		Interest expense		(2,939)		(4,399)		(10,211)		(12,844)
	Total non-operating (expense) income		$	(71,315)	$	1,875	$	(79,302)	$	6,753

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Investment Securities, Trading (Details) (USD $)	3 Months Ended		9 Months Ended
	Jul. 31, 2013 Number	Jul. 31, 2012 Number	Jul. 31, 2013 Number	Jul. 31, 2012 Number	Oct. 31, 2012
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Total investment securities, trading	$ 249,125,000		$ 249,125,000		$ 190,253,000
Trading securities net unrealized loss	(5,000,000)	(1,000,000)
Trading securities net unrealized gain			10,900,000	5,800,000
Number of seeded sponsored funds	10	14	10	14
Number of seeded separately managed accounts	15	4	15	4
Equity Securities [Member]
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Total investment securities, trading	90,222,000		90,222,000		119,448,000
Debt Securities [Member]
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Total investment securities, trading	$ 148,426,000		$ 148,426,000		$ 70,805,000

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Variable Interest Entities Investments in VIEs That Are Not Consolidated (Details) (USD $)	Jul. 31, 2013	Oct. 31, 2012
Non Consolidated Clo Entities [Abstract]
Total assets held by the non-consolidated entities	$ 1,800,000,000	$ 1,800,000,000
Total collateral management fees receivable held by the Company in non-consolidated entities	2,100,000	2,000,000
Other Entities [Abstract]
Total assets of the privately offered equity funds that the Company holds a variable interest in but is not deemed to be a primary beneficiary	9,600,000,000	9,000,000,000
Total investments of the privately offered equity funds that the Company holds a variable interest in but is not deemed to be a primary beneficiary	5,400,000	4,400,000
Total collateral management fees receivable of the privately offered equity funds that the Company holds a variable interest in but is not deemed to be a primary beneficiary	$ 500,000	$ 400,000

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Income Taxes Reconciliation (Details)	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Reconconciliation to the Company's effective income tax rate
Federal statutory rate	35.00%	35.00%	35.00%	35.00%
Effective income tax rate (as a percent)	52.90%	35.50%	40.00%	35.70%

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Non-controlling and Other Beneficial Interests (Tables)

9 Months Ended

Jul. 31, 2013

Non Controlling And Other Beneficial Interests Table [Abstract]

Summary of net (income) loss attributable to non-controlling and other beneficial interest holders

			Three Months Ended				Nine Months Ended
			July 31,				July 31,
(in thousands)			2013		2012		2013		2012
Consolidated sponsored funds		$	206	$	(839)	$	(3,886)	$	(3,167)
Majority-owned subsidiaries			(4,007)		(3,354)		(11,596)		(10,465)
Non-controlling interest value adjustments(1)			(405)		(796)		(11,718)		(9,996)
Consolidated CLO entity			2,359		(7,492)		5,592		(16,352)
Net income attributable to non-controlling and
other beneficial interests		$	(1,847)	$	(12,481)	$	(21,608)	$	(39,980)
(1)	Relates to non-controlling interests redeemable at other than fair value.

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Variable Interest Entities (Tables)

9 Months Ended

Jul. 31, 2013

Variable Interest Entities Disclosure Table [Abstract]

Summary of the fair value of the CLO entity's assets and liabilities subject to fair value accounting

July 31, 2013
		CLO Bank Loan Investments
(in thousands)		Total CLO bank loan investments		90 days or more past due		Senior and subordinated note obligations
Unpaid principal balance	$	241,835	$	908	$	311,580
Unpaid principal balance
over fair value		(2,166)		(570)		(20,405)
Fair value	$	239,669	$	338	$	291,175

October 31, 2012
		CLO Bank Loan Investments
(in thousands)		Total CLO bank loan investments		90 days or more past due		Senior and subordinated note obligations
Unpaid principal balance	$	425,153	$	500	$	471,546
Unpaid principal balance
over fair value		(863)		(485)		(24,941)
Fair value	$	424,290	$	15	$	446,605

Summary of the carrying amounts related to a CLO entity consolidated on the Company's Balance Sheet

	July 31,		October 31,
(in thousands)	2013		2012
Assets of consolidated CLO entity:
Cash and cash equivalents	$	58,300	$	36,758
Bank loans and other investments		245,991		430,583
Other assets		2,237		1,107
Liabilities of consolidated CLO entity:
Senior and subordinated note obligations		291,175		446,605
Other liabilities		421		766
Appropriated retained earnings		13,107		18,699
Net interest in consolidated CLO entity	$	1,825	$	2,378

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Intangible Assets (Tables)

9 Months Ended

Jul. 31, 2013

Intangible Assets Disclosure Table [Abstract]

Schedule of the carrying amounts of intangible assets

July 31, 2013
(dollars in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount
Amortizing intangible assets:
Client relationships acquired	$	133,927	$	(65,394)	$	68,533
Intellectual property acquired		1,000		(174)		826
Trademark acquired		900		(75)		825
Non-amortizing intangible assets:
Mutual fund management contract acquired		6,708		-		6,708
Total	$	142,535	$	(65,643)	$	76,892

October 31, 2012
(dollars in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount
Amortizing intangible assets:
Client relationships acquired	$	110,327	$	(58,681)	$	51,646
Intellectual property acquired		1,000		(126)		874
Non-amortizing intangible assets:
Mutual fund management contract acquired		6,708		-		6,708
Total	$	118,035	$	(58,807)	$	59,228

Schedule of expected amortization expense for the next five fiscal years

Year Ending October 31,			Estimated Amortization
(in thousands)			Expense
Remaining 2013	$	2,359
2014		9,408
2015		9,183
2016		8,741
2017		8,628
2018		8,188

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Investments

9 Months Ended

Jul. 31, 2013

Investments Disclosure [Abstract]

Investments

5. Investments

The following is a summary of investments at July 31, 2013 and October 31, 2012:

(in thousands)		July 31, 2013		October 31, 2012
Investment securities, trading:
Cash management assets		$	10,477	$	-
Consolidated sponsored funds			181,275		157,405
Separately managed accounts			57,373		32,848
Total investment securities, trading			249,125		190,253
Investment securities, available-for-sale			17,457		31,148
Investment in non-consolidated CLO entity			317		350
Investments in equity method investees			271,044		257,652
Investments, other			7,531		7,530
Total investments(1)		$	545,474	$	486,933
(1)	Excludes the Company's investment in its consolidated CLO entity, which is discussed in Note 9.

Investment securities, trading

Investment securities, trading, consist of cash management assets held by the Company, including certificates of deposit, commercial paper and corporate debt securities with original maturities ranging from three months up to twenty-four months, and debt and equity securities held in the portfolios of consolidated sponsored funds and separately managed accounts.A separately managed account seeded by the Company for product development purposes is not a legal entity subject to consolidation, but rather an individual portfolio of securities in the Company's name managed to establish an investment track record. As a result, the Company looks through the construct of the portfolio to the underlying debt and equity securities and treats these securities as trading investments for accounting and disclosure purposes.The following is a summary of the fair value of investments classified as trading at July 31, 2013 and October 31, 2012:

(in thousands)	July 31, 2013		October 31, 2012
Cash management assets	$	10,477	$	-
Debt securities - consolidated sponsored funds and
separately managed accounts		148,426		70,805
Equity securities - consolidated sponsored funds and
separately managed accounts		90,222		119,448
Total investment securities, trading	$	249,125	$	190,253

The Company seeds new investment strategies on a regular basis as a means of establishing investment records that can be used in marketing those strategies to retail and institutional clients. New investment strategies may be seeded as either sponsored funds or separately managed accounts. During the nine months ended July 31, 2013, the Company seeded investments in10sponsored funds and 15 separately managed accounts; during the nine months ended July 31, 2012, the Company seeded investments in14sponsored funds and 4 separately managed accounts.

The Company recognizedtrading (losses) gainsrelated to trading securities still held at the reporting date of $(5.0)million and $(1.0) million for the three months ended July 31, 2013 and 2012, respectively, and $10.9 million and $5.8millionfor the nine months ended July 31, 2013 and 2012, respectively.

Investment securities, available-for-sale

Investment securities, available-for-sale, consist exclusively of seed investments in certain sponsored funds, privately offered equity funds and closed-end funds, where the company has less than a 20 percent interest in the fund.The following is a summary of thegross unrealized gains and (losses) included in accumulated other comprehensive income related to securities classified as available-for-sale at July 31, 2013 and October 31, 2012:

July 31, 2013				Gross Unrealized
(in thousands)	Cost		Gains		Losses		Fair Value
Investment securities, available-for-sale	$	10,939	$	6,609	$	(91)	$	17,457
October 31, 2012				Gross Unrealized
(in thousands)	Cost		Gains		Losses		Fair Value
Investment securities, available-for-sale	$	22,331	$	8,835	$	(18)	$	31,148

Net unrealized holdinggains (losses)on investment securities, available-for-sale, included in other comprehensive (loss) income were $0.6 million and $(0.3)million for the three months endedJuly 31, 2013 and 2012, respectively, and$(2.3) millionand $2.5million for thenine months endedJuly 31,2013 and 2012, respectively.

The Company reviewed gross unrealized losses of $91,000 as of July 31, 2013 and determined that these losses were not other-than-temporary, primarily because the Company has both the ability and intent to hold the investments for a period of time sufficient to recover such losses. The aggregate fair value of investments with unrealized losses was $1.2million at July 31, 2013. No investment with a gross unrealized loss has been in a loss position for greater than one year.

The following is a summary of the Company's realized gains and losses upon disposition of investmentsclassified as available-for-sale for the three and nine months endedJuly 31, 2013 and 2012:

	Three Months Ended				Nine Months Ended
	July 31,				July 31,
(in thousands)	2013		2012		2013		2012
Gains	$	415	$	41	$	5,666	$	288
Losses		(235)		(230)		(235)		(353)
Net realized gains (losses)	$	180	$	(189)	$	5,431	$	(65)

Investments in equity method investees

On August 6, 2012, the Company completed the purchase of a 49 percent interest in Hexavest Inc. (“Hexavest”), a Montreal, Canada-based investment advisor that provides discretionary management of equity and tactical asset allocations using a predominantly top-down investment style. The Company accounted for the purchase using the equity method. As of July 31,2013, the investment in Hexavest was comprised of $5.0million of equity in the net assets of Hexavest, intangible assets of $39.7 million, goodwill of $142.6 million and a deferred tax liability of $10.7 million, for a total carrying value of $176.6 million. As of October 31, 2012, the investment in Hexavest was comprised of $3.4 million of equity in the net assets of Hexavest, intangible assets of $42.7 million, goodwill of $146.6 million and a deferred tax liability of $11.5 million, for a total carrying value of $181.2 million. The Company will be obligated to make two additional payments in respect of the acquired interest if Hexavest exceeds defined annual revenue thresholds in the first and second twelve-month periods following the closing. These payments, if made, will be considered goodwill and will be recorded as additions to the carrying amount of the equity method investment. The Company's interest in finite-lived intangible assets acquired in the transaction is being amortized over an estimated useful life of seventeen years.

In connection with the transaction, the Company also acquired an option, executable in fiscal 2017, to purchase an additional 26 percent interest in Hexavest. As part of the purchase price allocation, a value of $8.1 million was assigned to this option. The option is included in other assets in the Company's Consolidated Balance Sheet at July 31,2013 and October 31, 2012.

The Company has a 7 percent equity interest in a private equity partnership managed by a third party that invests in companies in the financial services industry. The Company's investment in the partnership was $5.0million and $9.8 million at July 31, 2013 and October 31, 2012, respectively.

The Company had equity-method investments in the following sponsored funds as of July 31, 2013 and October 31, 2012:

		Equity Ownership Interest (%)		Carrying Value ($)(1)
		July 31,	October 31,		July 31,		October 31,
(dollar amounts in thousands)		2013	2012		2013		2012
Eaton Vance Atlanta Capital Select
Equity Fund		39%	-	$	23,835	$	-
Eaton Vance Hexavest Global Equity Fund		35%	-		23,308		-
Eaton Vance Real Estate Fund		39%	48%		13,465		16,494
Eaton Vance Municipal
Opportunities Fund		32%	-		10,250		-
Eaton Vance Focused Value
Opportunities Fund		39%	-		6,609		-
Eaton Vance Focused Growth
Opportunities Fund		41%	-		6,416		-
Eaton Vance Tax-Advantaged Bond
Strategies Long Term Fund		28%	31%		5,609		10,346
Eaton Vance Richard Bernstein
All Asset Strategy Fund		-	44%		-		23,341
AGF Floating Rate Income Fund		-	21%		-		15,334
Parametric Structured Currency Fund		-	33%		-		1,043
Total				$	89,492	$	66,558
(1)	The carrying value of equity method investments in Eaton Vance-managed funds is measured based on the funds’ net asset
	values. The Company has the ability to redeem its investments in these funds at any time. Not shown are Company
	investments in certain of the above-listed funds that were not accounted for as equity method investments as of the
	indicated date.

The Company did not recognize any impairment losses related to its investments in equity method investeesduring the three and nine months ended July 31, 2013 and 2012, respectively.

During the nine months endedJuly 31, 2013 and 2012, the Company received dividends of $13.2 million and $11.1 million, respectively, fromits investments in equity method investees.

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Stock Based Compensation Plans (Restriced Stock and Phantom Stock Units) (Details) (USD $) In Millions, except Share data, unless otherwise specified	9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012
Restricted shares activity
Compensation cost related to restricted shares granted under the Company's plan, not yet recognized	$ 77.7
Weighted-average period over which compensation cost related to restricted shares is expected to be recognized (in years)	3 years 4 months
Unvested, beginning of period	3,233,000
Granted shares	1,625,000
Vested shares	(767,000)
Forfeited	(133,000)
Unvested, end of period	3,958,000
Unvested weighted-average grant date fair value, beginning of period ($ per share)	$ 26.43
Granted weighted-average grant date fair value ($ per share)	$ 29.27
Vested weighted-average grant date fair value ($ per share)	$ 26.32
Forfeited/expired weighted-average grant date fair value ($ per share)	$ 27.98
Unvested weighted-average grant date fair value, end of period ($ per share)	$ 27.60
Fair value of restricted stock that vested during the period	20.2	12.6
Phantom stock units activity
Phantom stock units issued during the period (as shown)	9,565
Compensation cost related to phantom stock units issued under the Company's plan, not yet recognized	0.3
Weighted-average period over which compensation cost related to phantom stock units issued is expected to be recognized (in years)	1 year 1 month
Total phantom stock liability paid out	$ 0.3	$ 0.2

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Consolidated Funds (Tables)

9 Months Ended

Jul. 31, 2013

Consolidated Funds Table [Abstract]

Summary of consolidated sponsored funds

(in thousands)		July 31, 2013		October 31, 2012
Investments		$	181,275	$	157,405
Other assets			6,491		5,594
Other liabilities			(19,051)		(16,928)
Redeemable non-controlling interests			(35,304)		(20,072)
Net interest in consolidated sponsored funds(1)		$	133,411	$	125,999
(1)	Excludes the Company's investment in its consolidated CLO entity, which is discussed in Note 9.

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Consolidated Funds (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2013 Number	Oct. 31, 2012	Jul. 31, 2012 Number
Schedule Of Consolidated Funds [Line Items]
Investments	$ 545,474	$ 486,933
Other assets	85,942	89,122
Other liabilities	(77,411)	(91,785)
Redeemable non-controlling interests	(97,051)	(98,765)
Number of deconsolidated sponsored funds	5		5
Consolidated Sponsored Funds [Member]
Schedule Of Consolidated Funds [Line Items]
Investments	181,275	157,405
Other assets	6,491	5,594
Other liabilities	(19,051)	(16,928)
Redeemable non-controlling interests	(35,304)	(20,072)
Net interest in consolidated sponsored funds	$ 133,411	$ 125,999

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Fair Value Measurements of Other Financial Instruments

9 Months Ended

Jul. 31, 2013

Fair Value Measurements Of Other Financial Instruments Disclosure [Abstract]

Fair Value Measurements of Other Financial Instruments

8. Fair Value Measurements of Other Financial Instruments

Certain financial instruments are not carried at fair value. The following is a summary of the carrying amounts and estimated fair values of these financial instruments at July 31, 2013 and October 31, 2012:

		July 31, 2013					October 31, 2012
(in thousands)		Carrying Value		Fair Value	Fair Value Level		Carrying Value		Fair Value	Fair Value Level
Investments, other	$	7,470	$	7,470	3	$	7,470	$	7,470	3
Other assets	$	8,075	$	8,075	3	$	8,307	$	8,307	3
Debt	$	573,460	$	601,121	2	$	500,000	$	604,316	2

Included in investments, other,is a $6.6 million non-controlling capital interest in Atlanta Capital Management Holdings, LLC (“ACM Holdings”), a partnership that owns certain non-controlling interests of Atlanta Capital Management LLC (“Atlanta Capital”). The Company's interest in ACM Holdings is non-voting and entitles the Company to receive $6.6 million when put or call options for certain non-controlling interests of Atlanta Capital are exercised.The carrying value of this investment approximates fair value. The fairvalue of the investment is determined using a cash flow model which projects future cash flows based upon contractual obligations. Once the undiscounted cash flows have been determined, the Company applies an appropriate discount rate. The inputs to the model are considered Level 3.

Included in other assets is a five-year option to acquire an additional 26 percent interest in Hexavest. The $8.1 million carrying value of this option approximates fair value. The fair value of the option is determined using a Monte Carlo model which simulates potential future market multiples of earnings before interest and taxes (“EBIT”) and compares this to the contractually fixed multiple of Hexavest's EBIT at which the option can be exercised. The Monte Carlo model uses this array of simulated multiples and their difference from the contractual multiple times the projected EBIT for Hexavest to estimate the future exercise value of the option, which is then adjusted to present value. The inputs to the model are considered Level 3.

The fair value of the Company's debt has been determined using publicly available market prices, which are considered Level 2 inputs.

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Consolidated Funds

9 Months Ended

Jul. 31, 2013

Consolidated Funds Disclosure [Abstract]

Consolidated Funds

4. Consolidated Funds

Underlying investments held by consolidated sponsored funds were included in investments on the Company's Consolidated Balance Sheets and classified as investment securities, trading, at July 31, 2013and October 31,2012. Net investment income related to consolidated sponsored funds was included in (losses) gains and other investment income, net, on the Company's Consolidated Statements of Income for all periods presented. Net investment income was partially offset by amounts attributable to non-controlling interest holders, which are recorded in net income attributable to non-controlling and other beneficial interest holders in the Company's Consolidated Statements of Income for all periods presented.

The following table sets forth the balances related to consolidated sponsored funds that are included on the Company's Consolidated Balance Sheets at July 31, 2013and October 31,2012 as well as the Company's net interest in these funds:

(in thousands)		July 31, 2013		October 31, 2012
Investments		$	181,275	$	157,405
Other assets			6,491		5,594
Other liabilities			(19,051)		(16,928)
Redeemable non-controlling interests			(35,304)		(20,072)
Net interest in consolidated sponsored funds(1)		$	133,411	$	125,999
(1)	Excludes the Company's investment in its consolidated CLO entity, which is discussed in Note 9.

In both thenine months endedJuly 31, 2013 and 2012, the Company deconsolidated a total of five sponsored funds.

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Consolidated Statements of Shareholders' Equity (USD $) In Thousands, unless otherwise specified	Total	Voting Common Stock [Member]	Non-Voting Common Stock [Member]	Additional Paid-In Capital [Member]	Notes Receivable From Stock Option Exercises [Member]	Accumulated Other Comprehensive Income [Member]	Appropriated Retained Earnings (Deficit) [Member]	Retained Earnings [Member]	Non Redeemable Non Controlling Interests [Member]	Total Permanent Equity [Member]	Redeemable Non Controlling Interests [Member]
Beginning balance, at Oct. 31, 2011		$ 2	$ 450		$ (4,441)	$ 1,340	$ (3,867)	$ 466,931	$ 889	$ 461,304	$ 100,824
Net income	190,327						16,352	150,347	2,747	169,446	20,881
Other comprehensive income (loss)	1,290					1,290				1,290
Dividends declared								(65,867)		(65,867)
Issuance of Voting Common Stock				56						56
Issuance of Non-Voting Common Stock:
On exercise of stock options			4	17,328	(211)					17,121
Under employee stock purchase plan			1	3,653						3,654
Under employee incentive plan				2,068						2,068
Under restricted stock plan, net of forfeitures			5							5
Stock-based compensation				42,819						42,819
Tax benefit of stock option exercises				2,228						2,228
Repurchase of Non-Voting Common Stock	76,586		(12)	(65,210)				(11,364)		(76,586)
Principal repayments on notes receivable from stock option exercises					764					764
Net subscriptions (redemptions/distributions) of non-controlling interest holders									(2,613)	(2,613)	29,751
Deconsolidation											(21,586)
Reclass to temporary equity									(132)	(132)	132
Purchase of non-controlling interests											(19,864)
Other changes in non-controlling interests				(2,942)						(2,942)	2,942
Ending balance, at Jul. 31, 2012		2	448		(3,888)	2,630	12,485	540,047	891	552,615	113,080
Beginning balance, at Oct. 31, 2012	613,585	2	453	26,730	(4,155)	3,923	18,699	566,420	1,513	613,585	98,765
Net income	158,297						(5,592)	136,689	3,964	135,061	23,236
Other comprehensive income (loss)	(3,237)					(3,237)				(3,237)
Dividends declared								(192,075)		(192,075)
Issuance of Non-Voting Common Stock:
On exercise of stock options			18	98,968	(4,734)					94,252
Under employee stock purchase plan			1	3,516						3,517
Under employee incentive plan				2,079						2,079
Under restricted stock plan, net of forfeitures			5							5
Stock-based compensation				40,446						40,446
Tax benefit of stock option exercises				15,682						15,682
Repurchase of Voting Common Stock				(73)						(73)
Repurchase of Non-Voting Common Stock	48,162		(5)	(48,157)						(48,162)
Principal repayments on notes receivable from stock option exercises					2,028					2,028
Net subscriptions (redemptions/distributions) of non-controlling interest holders									(3,922)	(3,922)	63,796
Deconsolidation											(61,023)
Reclass to temporary equity									(224)	(224)	224
Purchase of non-controlling interests											(46,601)
Issuance of subsidiary equity											13,927
Other changes in non-controlling interests				(4,727)						(4,727)	4,727
Ending balance, at Jul. 31, 2013	$ 654,235	$ 2	$ 472	$ 134,464	$ (6,861)	$ 686	$ 13,107	$ 511,034	$ 1,331	$ 654,235	$ 97,051

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Fair Value Measurements of Other Financial Instruments (Details) (USD $)	Jul. 31, 2013	Oct. 31, 2012
Carrying And Fair Value [Line Items]
Carrying value of other investments	$ 7,470,000	$ 7,470,000
Carrying value of other assets related to Hexavest option	8,075,000	8,307,000
Carrying value of debt	573,460,000	500,000,000
Carrying value of non-controlling capital interest in ACM Holdings	6,600,000	6,600,000
Level 2 [Member]
Carrying And Fair Value [Line Items]
Fair value of debt	601,121,000	604,316,000
Level 3 [Member]
Carrying And Fair Value [Line Items]
Fair value of other investments	7,470,000	7,470,000
Fair value of other assets related to Hexavest option	8,075,000	8,307,000
Fair value of non-controlling capital interest in ACM Holdings	$ 6,600,000	$ 6,600,000

XML

Fair Value Measurements (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2013	Oct. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 545,474	$ 486,933
Bank loans and other investments	245,991	430,583
Senior and subordinated note obligations	291,175	446,605
Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	17,457	31,148
Collateralized Loan Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	317	350
Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	271,044	257,652
Cost Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	7,531	7,530
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	99,310	16,390
Total financial assets	294,872	170,288
Level 1 [Member] | Assets Of Consolidated Collateralized Loan Obligation Entity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	56,725	34,561
Bank loans and other investments		98
Level 1 [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	52,137	87,991
Level 1 [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member] | Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	74,601	4,512
Level 1 [Member] | Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	12,099	26,736
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	3,700	139,469
Derivative instruments	1,302	2,229
Total financial assets	375,754	672,202
Level 2 [Member] | Financial Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	6,668	788
Securities sold, not yet purchased	1,572	26,142
Total financial liabilities	10,875	29,589
Level 2 [Member] | Financial Liabilities [Member] | Liabilities Of Consolidated Collateralized Loan Obligation Entity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior and subordinated note obligations	2,635	2,659
Level 2 [Member] | Assets Of Consolidated Collateralized Loan Obligation Entity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loans and other investments	242,946	428,282
Level 2 [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	38,085	31,457
Level 2 [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member] | Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	73,825	66,293
Level 2 [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member] | Cash Management Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	10,477
Level 2 [Member] | Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	5,358	4,412
Level 2 [Member] | Cost Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	61	60
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	3,045	2,203
Level 3 [Member] | Financial Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial liabilities	288,540	443,946
Level 3 [Member] | Financial Liabilities [Member] | Liabilities Of Consolidated Collateralized Loan Obligation Entity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior and subordinated note obligations	288,540	443,946
Level 3 [Member] | Assets Of Consolidated Collateralized Loan Obligation Entity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bank loans and other investments	3,045	2,203
Other Assets Not Held At Fair Value Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	278,831	265,472
Other Assets Not Held At Fair Value Investments [Member] | Collateralized Loan Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	317	350
Other Assets Not Held At Fair Value Investments [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	271,044	257,652
Other Assets Not Held At Fair Value Investments [Member] | Cost Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	7,470	7,470
Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	103,010	155,859
Derivative instruments	1,302	2,229
Total financial assets	952,502	1,110,165
Total Fair Value [Member] | Financial Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	6,668	788
Securities sold, not yet purchased	1,572	26,142
Total financial liabilities	299,415	473,535
Total Fair Value [Member] | Financial Liabilities [Member] | Liabilities Of Consolidated Collateralized Loan Obligation Entity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior and subordinated note obligations	291,175	446,605
Total Fair Value [Member] | Assets Of Consolidated Collateralized Loan Obligation Entity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	56,725	34,561
Bank loans and other investments	245,991	430,583
Total Fair Value [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	90,222	119,448
Total Fair Value [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member] | Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	148,426	70,805
Total Fair Value [Member] | Categories of Investments, Marketable Securities, Trading Securities [Member] | Cash Management Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	10,477
Total Fair Value [Member] | Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	17,457	31,148
Total Fair Value [Member] | Collateralized Loan Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	317	350
Total Fair Value [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	271,044	257,652
Total Fair Value [Member] | Cost Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 7,531	$ 7,530

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Derivative Financial Instruments (Tables)

9 Months Ended

Jul. 31, 2013

Derivative Financial Instruments Disclosure Table [Abstract]

Summary of the fair value table of other derivative instruments not designated as hedging instruments

July 31, 2013
	Assets			Liabilities
(in thousands)	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value
Foreign exchange contracts	Other assets	$	767	Other liabilities	$	90
Stock index futures contracts	Other assets		202	Other liabilities		6,407
Commodity futures contracts	Other assets		333	Other liabilities		171
Total		$	1,302		$	6,668

October 31, 2012
	Assets			Liabilities
(in thousands)	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value
Foreign exchange contracts	Other assets	$	226	Other liabilities	$	300
Stock index futures contracts	Other assets		1,505	Other liabilities		367
Commodity futures contracts	Other assets		498	Other liabilities		121
Total		$	2,229		$	788

	Income Statement		Three Months Ended July 31,				Nine Months Ended July 31,
(in thousands)	Location		2013		2012		2013		2012
Foreign exchange contracts	(Losses) gains and other investment income, net	$	1,212	$	299	$	2,406	$	727
Stock index futures contracts	(Losses) gains and other investment income, net		(3,028)		616		(21,939)		(9,285)
Commodity futures contracts	(Losses) gains and other investment income, net		483		56		1,177		1,069
Interest rate contracts	(Losses) gains and other investment income, net		(3,075)		-		(3,075)		-
Total		$	(4,408)	$	971	$	(21,431)	$	(7,489)

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Income Tax Provision (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	9 Months Ended
	Jul. 31, 2013	Jul. 31, 2013
Provision For Income Taxes [Abstract]
Increase in tax rate due to settlement	14.10%	2.70%
Lump sum payment for audit settlement	$ 19.6	$ 19.6
Net increase to income tax expense due to settlement	6.7	6.7
Previously recorded reserves, part of settlement		9.3
Federal tax benefit from state settlement		$ 3.6

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Stock Based Compensation Plans (Details) (USD $)	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Stock-based compensation expense:
Stock options (under the 2008 Plan)	$ 3,316,000	$ 6,314,000	$ 10,841,000	$ 21,758,000
Restricted shares (under the 2008 Plan)	8,102,000	6,014,000	24,539,000	18,021,000
Phantom stock units (under the 2008 Plan)	109,000	67,000	382,000	190,000
Employee stock purchase plan	859,000	318,000	1,235,000	426,000
Incentive Plan - Stock Alternative Expense	110,000	25,000	308,000	151,000
Atlanta Capital Plan	352,000	232,000	1,055,000	695,000
Parametric Plan	823,000	595,000	2,468,000	1,768,000
Total stock-based compensation expense	13,671,000	13,565,000	40,828,000	43,009,000
Tax benefits expected to be realized for tax deductions from option exercises	$ 4,400,000	$ 4,100,000	$ 14,900,000	$ 13,300,000

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Intangible Assets

9 Months Ended

Jul. 31, 2013

Intangible Assets Disclosure [Abstract]

Intangible Assets

11. Intangible Assets

The following is a summary of intangible assets at July 31, 2013 and October 31, 2012:

July 31, 2013
(dollars in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount
Amortizing intangible assets:
Client relationships acquired	$	133,927	$	(65,394)	$	68,533
Intellectual property acquired		1,000		(174)		826
Trademark acquired		900		(75)		825
Non-amortizing intangible assets:
Mutual fund management contract acquired		6,708		-		6,708
Total	$	142,535	$	(65,643)	$	76,892

October 31, 2012
(dollars in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount
Amortizing intangible assets:
Client relationships acquired	$	110,327	$	(58,681)	$	51,646
Intellectual property acquired		1,000		(126)		874
Non-amortizing intangible assets:
Mutual fund management contract acquired		6,708		-		6,708
Total	$	118,035	$	(58,807)	$	59,228

Amortization expense was $2.4million and $2.0 millionfor the three months ended July 31, 2013 and 2012 and $6.8million and $6.0 million for the nine months ended July 31, 2013 and 2012, respectively. Estimated remaining amortization expense for the next five fiscal years, on a straight-line basis, is as follows:

Year Ending October 31,			Estimated Amortization
(in thousands)			Expense
Remaining 2013	$	2,359
2014		9,408
2015		9,183
2016		8,741
2017		8,628
2018		8,188

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Derivative Financial Instruments

9 Months Ended

Jul. 31, 2013

Derivative Financial Instruments Disclosure [Abstract]

Derivative Financial Instruments

7. Derivative Financial Instruments

Derivative financial instruments designated as cash flow hedges

On June 25, 2013, the Company issued $325 million in aggregate principal amount of 3.625 percent ten-year Senior Notes due in June 2023 (the “2023 Senior Notes”). In anticipation of the offering, the Company entered into a forward-starting interest rate swap intended to hedge changes in the benchmark interest rate between the time at which the decision was made to issue the debt and the pricing of the securities. The benchmark interest rate increased during this time and the Company received payment to settle the hedge for a gain of $2.0 million. At termination, the hedge was determined to be an effective cash flow hedge and the $2.0 million gain was recorded in other comprehensive (loss) income, net of taxes of $0.8 million. The gain recorded in other comprehensive (loss) income will be reclassified to earnings as a component of interest expense over the term of the debt. During the three months ended July 31, 2013, approximately $25,000 of this deferred gain was reclassified into interest expense. During the next twelve months, the Company expects to reclassify approximately $0.2 million of the gain into interest expense.

Duringthe nine months ended July 31, 2013 and 2012, the Company reclassified into interest expense $0.3million of the loss on a Treasury lock transaction in connection with the Company's 2007 issuance of ten-year Senior notes due in October 2017 (the “2017 Senior Notes”). The Company also recognized an additional $0.9 million in interest expense to accelerate the amortization of the treasury lock tied to the portion of the 2017 Senior Notes retired on June 28, 2013. At July 31, 2013, the remaining unamortized loss on the Treasury lock was $0.9 million. During the next twelve months, the Company expects to reclassify approximately $0.2 million of the loss on the Treasury lock transaction into interest expense.

Other derivative financial instruments not designated for hedge accounting

In June 2013, the Company entered into a reverse treasury lock in conjunction with the Company's tender offer to purchase up to $250 million of its outstanding 6.5 percent Senior Notes due in October 2017 (the “2017 Senior Notes”).The transaction effectively locked in the benchmark interest rate to be used in determining the premium above par to be paid to note holders in conjunction with the repurchase of the 2017 Senior Notes tendered. The reference U.S. Treasury rate increased during the time the reverse treasury lock was outstanding and the Company recognized a $3.1 million loss upon termination in June. This loss was included in (losses) gains and other investment income, net in the Company's Consolidated Statement of Income.

The Company has entered into a series of foreign exchange contracts, stock index futures contracts and commodity futures contracts to hedge currency risk exposure and market risk associated with its investments in separately managed accounts and consolidated sponsored funds seeded for new product development purposes.

At July 31, 2013, the Company had 36 foreign exchange contracts outstanding with one counterparty with an aggregate notional value of $53.6million; 2,824stock index futures contracts outstanding with one counterparty with an aggregate notional value of $192.2 million; and 245commodity futures contracts outstanding with one counterparty with an aggregate notional value of $12.6 million.

The following tables present the fair value of derivative instruments not designated as hedging instruments as of July 31, 2013 and October 31, 2012:

July 31, 2013
	Assets			Liabilities
(in thousands)	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value
Foreign exchange contracts	Other assets	$	767	Other liabilities	$	90
Stock index futures contracts	Other assets		202	Other liabilities		6,407
Commodity futures contracts	Other assets		333	Other liabilities		171
Total		$	1,302		$	6,668

October 31, 2012
	Assets			Liabilities
(in thousands)	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value
Foreign exchange contracts	Other assets	$	226	Other liabilities	$	300
Stock index futures contracts	Other assets		1,505	Other liabilities		367
Commodity futures contracts	Other assets		498	Other liabilities		121
Total		$	2,229		$	788

The following is a summary of the net (losses) gains recognized in income for the three and ninemonthsendedJuly 31,2013 and 2012:

	Income Statement		Three Months Ended July 31,				Nine Months Ended July 31,
(in thousands)	Location		2013		2012		2013		2012
Foreign exchange contracts	(Losses) gains and other investment income, net	$	1,212	$	299	$	2,406	$	727
Stock index futures contracts	(Losses) gains and other investment income, net		(3,028)		616		(21,939)		(9,285)
Commodity futures contracts	(Losses) gains and other investment income, net		483		56		1,177		1,069
Interest rate contracts	(Losses) gains and other investment income, net		(3,075)		-		(3,075)		-
Total		$	(4,408)	$	971	$	(21,431)	$	(7,489)

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Earnings Per Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Earnings Per Share Reconciliation [Abstract]
Net income attributable to Eaton Vance Corp. shareholders	$ 23,203	$ 50,206	$ 136,689	$ 150,347
Less: Allocation of earnings to participating restricted shares	793	1,423	6,258	4,213
Net income available to common shareholders (basic)	22,410	48,783	130,431	146,134
Net income available to common shareholders (diluted)	$ 22,410	$ 48,783	$ 130,431	$ 146,134
Weighted-average shares outstanding - basic	117,594,000	112,110,000	116,399,000	112,354,000
Incremental common shares	6,278,000	2,481,000	5,756,000	2,677,000
Weighted-average shares outstanding - diluted	123,872,000	114,591,000	122,155,000	115,031,000
Earnings per share (Basic) ($ per share)	$ 0.19	$ 0.44	$ 1.12	$ 1.30
Earnings per share (Diluted) ($ per share)	$ 0.18	$ 0.43	$ 1.07	$ 1.27
Antidilutive common shares	3,000,000	14,400,000	3,000,000	15,000,000

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Common Stock

9 Months Ended

Jul. 31, 2013

Common Stock Repurchases Disclosure [Abstract]

Common Stock

14. Common Stock Repurchases

The Company's current share repurchase program was announced on October26, 2011. The Board authorized management to repurchase and retire up to 8.0 million shares of its Non-Voting Common Stock on the open market and in private transactions in accordance with applicable securities laws. The timing and amount of share purchases are subject to management's discretion. The Company's share repurchase program is not subject to an expiration date.

In the first nine monthsof fiscal 2013, the Company purchased and retired approximately 1.3 million shares of its Non-Voting Common Stock under the current repurchase authorization. Approximately 2.6 million additional shares may be repurchased under the current authorization.

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Debt

9 Months Ended

Jul. 31, 2013

Debt Disclosure [Abstract]

Debt

12. Debt

Senior Notes

On June 25, 2013, the Company issued $325.0 million in aggregate principal amount of 3.625 percent ten-year senior notes due June 15, 2023(previously defined as the “2023 Senior Notes”), resulting in net proceeds of approximately $321.3 million after underwriting discounts and transaction fees. Interest is payable semi-annually in arrears on June 15th and December 15th of each year, commencing on December 15th, 2013. The 2023 Senior Notes are unsecured and unsubordinated obligations of the Company.

Tender Offer

On June 14, 2013, the Company announced a tender offer to purchase for cash up to $250.0 millionin aggregate principal amount of its outstanding 2017 Senior Notes and ultimately accepted for purchase $250.0 million of the 2017 Senior Notes (“Tendered Notes”) on June 28, 2013. Pursuant to the terms of the Indenture that governs the 2017 Senior Notes, the consideration paid to the holders of the Tendered Notes, which totaled$301.5 million, was calculated as the sum of the present values of the remaining scheduled payments of principal and interest through October 2, 2017, discounted to June 28, 2013 using a reference U.S. Treasury security rate (0.625 percent U.S. Treasury Notes due September 30, 2017) plus 30 basis points. The holders of the Tendered Notes were also paid $3.9 million in interest that accrued from April 2, 2013 (the last interest payment date) through June 28, 2013.

The Company recognized a $52.9 million loss on extinguishment of debt, which includes the tender premium paid ($51.5 million excess of the Consideration Amount over the $250.0 million face amount of the 2017 Senior Notes tendered), acceleration of certain deferred financing costs and original issue discount associated with the Tendered Notes, and transaction costs associated with the tender offer.

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Document and Entity Information (USD $)	9 Months Ended
	Jul. 31, 2013	Apr. 30, 2013
Document and Entity Information
Entity registrant name	Eaton Vance Corp.
Entity central index key	0000350797
Document type	10-Q
Document period end date	Jul. 31, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3
Amendment flag	false
Entity current reporting status	Yes
Entity voluntary filers	No
Current fiscal year end date	--10-31
Entity filer category	Large Accelerated Filer
Entity well known seasoned issuer	Yes
Entity common stock shares outstanding	121,337,637
Entity public float		$ 4,659,905,087

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Stock Based Compensation Plans

9 Months Ended

Jul. 31, 2013

Stock Based Compensation Plans Disclosure [Abstract]

Stock-Based Compensation Plans

13. Stock-Based Compensation Plans

The Company recognized total compensation cost related to its stock-based compensation plans as follows:

		Three Months Ended				Nine Months Ended
		July 31,				July 31,
(in thousands)		2013		2012		2013		2012
2008 Plan:
Stock options	$	3,316	$	6,314	$	10,841	$	21,758
Restricted shares		8,102		6,014		24,539		18,021
Phantom stock units		109		67		382		190
Employee Stock Purchase Plan		859		318		1,235		426
Incentive Plan – Stock Alternative		110		25		308		151
Atlanta Capital Plan		352		232		1,055		695
Parametric Plan		823		595		2,468		1,768
Total stock-based compensation expense	$	13,671	$	13,565	$	40,828	$	43,009

The total income tax benefit recognized for stock-based compensation arrangements was $4.4million and $4.1million for the three months ended July 31, 2013 and 2012, respectively, and $14.9million and $13.3million for the nine months ended July 31, 2013and 2012, respectively.

2008 Omnibus Incentive Plan (“2008 Plan”)

The 2008 Plan, which is administered by the Compensation Committee of the Board, allows for awards of stock options, restricted shares and phantom stock units to eligible employees and non-employee Directors. A total of 19.8million shares of Non-Voting Common Stock have been reserved for issuance under the 2008 Plan. Through July 31, 2013, 6.0million restricted shares and options to purchase 14.5million shares have been issued pursuant to the 2008 Plan.

Stock Options

The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option valuation model. The Black-Scholes option valuation model incorporates assumptions as to dividend yield, volatility, an appropriate risk-free interest rate and the expected life of the option. Many of these assumptions require management's judgment. The Company's stock volatility assumption is based upon its historical stock price fluctuations. The Company uses historical data to estimate option forfeiture rates and the expected term of options granted. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve at the time of grant.

The weighted-average fair value per share of stock options granted during the nine months ended July 31, 2013 and 2012 using the Black-Scholes option pricing model were as follows:

	2013	2012
Weighted-average grant date fair value
of options granted	$7.69	$6.69
Assumptions:
Dividend yield	2.8% to 5.5%	2.9% to 3.1%
Volatility	36% to 37%	35% to 36%
Risk-free interest rate	1.2% to 2.1%	1.0% to 1.6%
Expected life of options	7.1 years	7.2 years

Stock option transactions under the 2008 Plan and predecessor plans for the nine months ended July 31, 2013 are summarized in the below table.

(share and intrinsic value figures in thousands)	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Options outstanding, beginning of period	27,653	$	26.90
Granted	2,271		28.41
Exercised	(4,703)		21.05
Forfeited/expired	(237)		29.70
Options outstanding, end of period	24,984	$	28.11	4.9	$	328,574
Options exercisable, end of period	16,114	$	28.98	3.4	$	204,875
Vested or expected to vest	24,629	$	28.13	4.9	$	323,626

The number of shares subject to option and the weighted-average exercise price of options reflected in the table above have been adjusted pursuant to certain anti-dilution provisions of the Company's 2008 Plan and predecessor plans to reflect the effect of a $1.00 per share special dividend declared and paid in December 2012.

The Company received $94.3million and $17.1million related to the exercise of options for the nine months ended July 31, 2013 and 2012, respectively. Options exercised represent newly issued shares. The total intrinsic value of options exercised during the nine months ended July 31, 2013 and 2012 was $66.2million and $10.4million, respectively. The total fair value of options that vested during the nine months ended July 31, 2013 was $28.1million.

As of July 31, 2013, there was $31.4million of compensation cost related to unvested stock options granted not yet recognized. That cost is expected to be recognized over a weighted-average period of 3.1 years.

Restricted Shares

Compensation expense related to restricted share grants is recorded over the forfeiture period of the restricted shares, as they are contingently forfeitable. As of July 31, 2013, there was $77.7million of compensation cost related to unvested awards not yet recognized. That cost is expected to be recognized over a weighted-average period of 3.3 years.

A summary of the Company's restricted share activity for the nine months ended July 31, 2013 under the 2008 Plan and predecessor plans is summarized in the below table:

		Weighted-
		Average
		Grant
		Date Fair
(share figures in thousands)	Shares	Value
Unvested, beginning of period	3,233	$	26.43
Granted	1,625		29.27
Vested	(767)		26.32
Forfeited	(133)		27.98
Unvested, end of period	3,958	$	27.60

The total fair value of restricted stock that vested during the nine months ended July 31,2013 and 2012was $20.2 million and $12.6 million, respectively.

Phantom Stock Units

In the nine months ended July 31, 2013, 9,565phantom stock units were issued to non-employee Directors pursuant to the 2008 Plan. Because these units are contingently forfeitable, compensation expense is recorded over the forfeiture period. The total liability paid out associated with phantom stock during the nine months ended July 31, 2013 and 2012 was $0.3 million and $0.2 million, respectively. As of July 31, 2013, there was $0.3million of compensation cost related to unvested awards not yet recognized. That cost is expected to be recognized over a weighted-average period of 1.1 years

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Stock Based Compensation Plans (Stock option transactions) (Details) (USD $) Share data in Thousands, except Per Share data, unless otherwise specified	9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012
Stock option transactions
Options outstanding, beginning of period	27,653
Granted shares	2,271
Exercised shares	(4,703)
Forfeited/expired shares	(237)
Options outstanding, end of period	24,984
Options exercisable, end of period	16,114
Vested or expected to vest	24,629
Options outstanding weighted-average exercise price, beginning of period ($ per share)	$ 26.90
Granted, weighted-average exercise price ($ per share)	$ 28.41
Exercised weighted-average exercise price ($ per share)	$ 21.05
Forfeited/expired weighted-average exercise price ($ per share)	$ 29.70
Options outstanding weighted-average exercise price, end of period ($ per share)	$ 28.11
Options exercisable, weighted-average exercise price ($ per share)	$ 28.98
Vested or expected to vest, weighted-average exercise price ($ per share)	$ 28.13
Options outstanding weighted-average remaining contractual term (in years)	4 years 11 months
Options exercisable weighted-average contractual term (in years)	3 years 5 months
Vested or expected to vest, weighted-average remaining contractual term (in years)	4 years 11 months
Options outstanding, aggregate intrinsic value	$ 328,574,000
Options exercisable, aggregate intrinsic value	204,875,000
Vested or expected to vest, aggregate intrinisic value	323,626,000
Fair value of options vested in the period	28,100,000
Cash received from exercises of stock options under equity incentive plans	94,300,000	17,100,000
The total intrinsic value of options exercised during the period	66,200,000	10,400,000
Compensation cost related to unvested stock options granted under the Company's plan, not yet recognized	$ 31,400,000
Weighted-average period over which compensation cost related to unvested options is expected to be recognized (in years)	3 years 1 month

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Stock Based Compensation Plans (Shares Reserved and Issued and Assumptions) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	9 Months Ended
	Jul. 31, 2013	Jul. 31, 2012
2008 Omnibus Incentive Plan
Non-Voting common stock reserved for issuance under the Company's plan	19.8
Restricted stock issued under plan	6.0
Stock options issued under plan	14.5
Weighted-average grant date fair value
Weighted-average grant date fair value of options granted ($ per share)	$ 7.69	$ 6.69
Black-Scholes option pricing model assumptions:
Dividend yield minimum	2.80%	2.90%
Dividend yield maximum	5.50%	3.10%
Volatility minimum	36.00%	35.00%
Volatility maximum	37.00%	36.00%
Risk-free interest rate minimum	1.20%	1.00%
Risk-free interest rate maximum	2.10%	1.60%
Expected life of options (in years)	7 years 1 month	7 years 2 months