Janus Capital (JNS) 10-K 24 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 19, 2016	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	JANUS CAPITAL GROUP INC
Entity Central Index Key	1,065,865
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 3,198,997,199
Entity Common Stock, Shares Outstanding		185,897,108
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 364.4	$ 452.5
Investment securities	327.1	344
Accounts receivable	137.8	130.9
Other current assets	41.4	59.8
Total current assets	870.7	987.2
Other assets:
Property and equipment, net	38.7	31.1
Intangible assets, net	1,352.5	1,257.4
Goodwill	602.8	509.7
Other non-current assets	6.8	7.8
Total assets	2,871.5	2,793.2
Current liabilities:
Accounts payable	6.9	8.8
Accrued compensation and benefits	145.3	142.8
Current portion of long-term debt	108.9
Other accrued liabilities	74.2	78
Total current liabilities	335.3	229.6
Other liabilities:
Long-term debt	297.2	450.5
Deferred income taxes, net	498.9	478.4
Other current liabilities	46.2	41.2
Total liabilities	$ 1,177.6	$ 1,199.7
Commitments and contingencies (See Note 16)
Redeemable noncontrolling interests	$ 21.8	$ 5.4
Equity:
Preferred stock ($1.00 par, 10,000,000 shares authorized, none issued)
Common stock ($0.01 par, 1,000,000,000 shares authorized; 183,660,673 and 185,153,490 shares outstanding, respectively)	$ 1.8	$ 1.9
Retained earnings	1,589.8	1,540.3
Accumulated other comprehensive loss, net of tax	(8.9)	(1.4)
Total JCG stockholders' equity	1,582.7	1,540.8
Noncontrolling interests	89.4	47.3
Total equity	1,672.1	1,588.1
Total liabilities, redeemable noncontrolling interests and equity	$ 2,871.5	$ 2,793.2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEET
Preferred stock, par (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	183,660,673	185,153,490

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Investment management fees	$ 913.7	$ 849.1	$ 813
Performance fees	(9.8)	(48)	(82.2)
Shareowner servicing fees and other	172.3	152.1	143.1
Total revenue	1,076.2	953.2	873.9
Operating expenses:
Employee compensation and benefits	352.5	322.8	292.7
Long-term incentive compensation	76.8	51.3	63.1
Marketing and advertising	22	19.5	20.2
Distribution	141	131	125.7
Depreciation and amortization	33	25.6	28.7
General, administrative and occupancy	128.6	113.3	104.4
Total operating expenses	753.9	663.5	634.8
Operating Income	322.3	289.7	239.1
Interest expense	(27.7)	(33.1)	(41.1)
Investment gains (losses), net	(8.2)	(1.9)	6.5
Other income (expense), net	3.2	3	4.5
Loss on early extinguishment of debt	(36.3)		(13.5)
Income before taxes	253.3	257.7	195.5
Income tax provision	(94)	(102.3)	(73.3)
Net income	159.3	155.4	122.2
Noncontrolling interests	(3.5)	(1)	(7.5)
Net income attributable to JCG	$ 155.8	$ 154.4	$ 114.7
Earnings per share attributable to JCG common shareholders:
Basic (in dollars per share)	$ 0.84	$ 0.82	$ 0.62
Diluted (in dollars per share)	$ 0.80	$ 0.81	$ 0.62
Other comprehensive loss, net of tax:
Net unrealized gain (loss) on available-for-sale securities	$ (2.2)	$ 1.9	$ 0.1
Foreign currency loss	(4.3)
Reclassification for items included in net income	(1)	(2.2)	(1.8)
Total other comprehensive (loss), net of tax	(7.5)	(0.3)	(1.7)
Comprehensive income	151.8	155.1	120.5
Comprehensive income attributable to noncontrolling interests	(3.5)	(1)	(7.5)
Comprehensive income attributable to JCG	$ 148.3	$ 154.1	$ 113

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities:
Net income	$ 159.3	$ 155.4	$ 122.2
Adjustments to reconcile net income to net cash used for operating activities:
Depreciation and amortization	33	25.6	28.7
Deferred income taxes	23.9	20.1	2.1
Amortization of stock-based compensation	52.2	19.8	25
Investment (gains) losses, net	8.2	1.9	(6.5)
Amortization of debt discounts, premiums and deferred issuance costs	4.3	8.1	10.9
Loss on extinguishment of debt	36.3		13.5
Payment of deferred commissions, net	(11.4)	(7.2)	(4.4)
Other, net	5.2	0.5	(0.6)
Changes in working capital items:
Accounts receivable	(2.5)	(20.8)	(7.9)
Other current assets	(25.4)	(13)	21.5
Accounts payable and accrued compensation payable	(13.1)	38.4	23.2
Other current and non-current liabilities	4.4	(10.4)	(3.6)
Net operating activities	274.4	218.4	224.1
Investing activities:
Acquisitions, net of cash acquired of $7.3 million, $4.3 million and nil, respectively	81.4	28.4
Purchase of property and equipment	(13.7)	(11.4)	(7.6)
Purchases and settlements of investment securities	(91)	(168.6)	(291.7)
Proceeds from sales, settlements and maturities of investment securities	67.6	336.8	157.6
Purchases of securities by consolidated seeded investment products, net of sales (See Note 2)	(32.2)	(60.9)	(93.6)
Net investing activities	(150.7)	67.5	(235.3)
Financing activities:
Repayment of long-term debt	(380.3)	(98.9)	(8.9)
Proceeds from the issuance of debt	297.1
Proceeds from the issuance of stock warrants			10.5
Purchase of convertible note hedge			(16.1)
Debt issuance costs	(2.6)		(4.8)
Purchase of noncontrolling interests	(0.4)	(1.5)	(34.1)
Distributions to noncontrolling interests	(6.7)	(1.6)	(5.9)
Contingent consideration	(8.6)
Third-party investments in consolidated seeded investment products, net of redemptions (See Note 2)	32.2	60.9	93.6
Proceeds from stock option exercises and employee stock purchases	11	8.4	8
Excess tax benefit from equity-based compensation	9.1	2.1	2.3
Principal payments under capital lease obligations	(1)	(1.2)	(1.1)
Repurchase of common stock	(91.8)	(87.2)	(33.4)
Dividends paid to JCG shareholders	(65.2)	(58.4)	(39.8)
Net financing activities	(207.2)	(177.4)	(29.7)
Cash and cash equivalents:
Effect of foreign exchange rate changes	(4.6)	(0.5)	(1.6)
Net change	(88.1)	108	(42.5)
At beginning of year	452.5	344.5	387
At end of year	364.4	452.5	344.5
Supplemental cash flow information:
Cash paid for interest	17.2	27.2	31
Cash paid for income taxes, net of refunds	$ 90.4	$ 89.7	$ 51.5

CONSOLIDATED STATEMENTS OF CAS6

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF CASH FLOWS
Cash acquired from acquisition	$ 7.3	$ 4.3	$ 0

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Millions, $ in Millions	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Nonredeemable Noncontrolling Interest	Total
Balance at Dec. 31, 2012	$ 1.9	$ 1,415.4	$ 0.6	$ 17.2	$ 1,435.1
Balance (in shares) at Dec. 31, 2012	187.5
Increase (Decrease) in Stockholders' Equity
Net income		114.7		1.1	115.8
Other comprehensive loss			(1.7)		(1.7)
Amortization of stock-based compensation		22.2		2.1	24.3
Issuance and forfeitures of restricted stock awards, net (in shares)	3.2
Stock option exercises and employee stock purchases		8			8
Stock option exercises and employee stock purchases (in shares)	1.4
Convertible senior notes issuance		14.7			14.7
Extinguishment of convertible senior notes		(2)			(2)
Convertible senior note hedge issuance		(16.1)			(16.1)
Stock warrants issuance		10.5			10.5
Changes in noncontrolling interests in consolidated investment products				(3.6)	(3.6)
Distributions to noncontrolling interests				(1.6)	(1.6)
Change in fair value of redeemable noncontrolling interests		1.8			1.8
Vesting of nonredeemable noncontrolling interests				(1.2)	(1.2)
Purchase of noncontrolling interests				(0.3)	(0.3)
Repurchase of common stock		(33.4)			(33.4)
Repurchase of common stock (in shares)	(3.5)
Dividends paid to JCG shareholders		(39.8)			(39.8)
Balance at Dec. 31, 2013	$ 1.9	1,496	(1.1)	13.7	1,510.5
Balance (in shares) at Dec. 31, 2013	188.6
Increase (Decrease) in Stockholders' Equity
Net income		154.4		1.1	155.5
Other comprehensive loss			(0.3)		(0.3)
Amortization of stock-based compensation		25.9		1.6	27.5
Issuance and forfeitures of restricted stock awards, net (in shares)	2.7
Stock option exercises and employee stock purchases		8.4			8.4
Stock option exercises and employee stock purchases (in shares)	0.9
Changes in noncontrolling interests in consolidated investment products				32.2	32.2
Distributions to noncontrolling interests				(1)	(1)
Change in fair value of redeemable noncontrolling interests		1.2			1.2
Vesting of nonredeemable noncontrolling interests				0.6	0.6
Purchase of noncontrolling interests				(0.9)	(0.9)
Repurchase of common stock		(87.2)			(87.2)
Repurchase of common stock (in shares)	(7)
Dividends paid to JCG shareholders		(58.4)			(58.4)
Balance at Dec. 31, 2014	$ 1.9	1,540.3	(1.4)	47.3	1,588.1
Balance (in shares) at Dec. 31, 2014	185.2
Increase (Decrease) in Stockholders' Equity
Net income		155.8		2.4	158.2
Other comprehensive loss			(7.5)	(4.1)	(11.6)
Amortization of stock-based compensation		35		1.2	36.2
Issuance and forfeitures of restricted stock awards, net				(0.6)	(0.6)
Issuance and forfeitures of restricted stock awards, net (in shares)	2.9
Stock option exercises and employee stock purchases		11			11
Stock option exercises and employee stock purchases (in shares)	1.4
Tax impact of stock-based compensation		3.9			3.9
Noncontrolling interest from the acquisition of Kapstream				85.7	85.7
Changes in noncontrolling interests in consolidated investment products				(41.1)	(41.1)
Distributions to noncontrolling interests				(1)	(1)
Change in fair value of redeemable noncontrolling interests		0.7			0.7
Purchase of noncontrolling interests				(0.4)	(0.4)
Repurchase of common stock	$ (0.1)	(91.7)			(91.8)
Repurchase of common stock (in shares)	(5.8)
Dividends paid to JCG shareholders		(65.2)			(65.2)
Balance at Dec. 31, 2015	$ 1.8	$ 1,589.8	$ (8.9)	$ 89.4	$ 1,672.1
Balance (in shares) at Dec. 31, 2015	183.7

DESCRIPTION OF THE BUSINESS

DESCRIPTION OF THE BUSINESS	12 Months Ended
	Dec. 31, 2015
DESCRIPTION OF THE BUSINESS
DESCRIPTION OF THE BUSINESS	Note 1 — Description of the Business Janus Capital Group Inc. and its subsidiaries (collectively, "JCG" or the "Company") derive revenue from providing investment management, administration, distribution and related services to financial advisors, individuals and institutional investors through mutual funds, separate accounts, other pooled investment vehicles, subadvised relationships, and exchange-traded products ("ETPs") (collectively referred to as "investment products") in both domestic and international markets. Revenues are generally based upon a percentage of the market value of assets under management and are calculated as a percentage of the daily average asset balance in accordance with contractual agreements. Certain investment products are also subject to performance fees, which vary based on a product's relative performance as compared to a benchmark index and the level of assets subject to such fees. JCG's complex-wide assets include all assets under management and ETPs. ETPs are not included in assets under management as the Company is not the named advisor or subadvisor to its branded products. Assets under management primarily consist of domestic and international equity and fixed income securities. Accordingly, fluctuations in domestic and international financial markets, relative investment performance, sales and redemptions of investment products, and changes in the composition of assets under management are all factors that have a direct effect on JCG's operating results. A significant portion of JCG's revenue is derived from contracts to manage mutual funds, which are subject to annual review and approval by each fund's Board of Trustees or its shareholders, or both. JCG's significant subsidiaries at December 31, 2015, include: • Janus Capital Management LLC ("Janus") (wholly-owned subsidiary) — Janus offers growth and core equity, global and international equity as well as ETPs, balanced and fixed income investment products. • INTECH Investment Management LLC ("INTECH") (97.0% owned subsidiary) — INTECH offers risk-managed investment products that are based on a mathematical theorem that seeks to add value for clients by capitalizing on the volatility in stock price movements. INTECH's goal is to achieve long-term returns that outperform a specified benchmark index, while controlling risks and trading costs. INTECH manages and subadvises institutional and separate accounts and subadvises certain Janus mutual funds. • Perkins Investment Management LLC ("Perkins") (wholly-owned subsidiary) — Perkins offers value-disciplined investment products, including small, mid and large cap and global value investment products.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Note 2 — Summary of Significant Accounting Policies Basis of Presentation The financial statements include all majority-owned subsidiaries and intercompany accounts and transactions have been eliminated in consolidation. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying financial statements through the issuance date. Certain prior p eriod amounts have been revised to conform to current period presentation. Third-party sales and redemptions of consolidated seeded investment products securities were incorrectly netted against the associated purchases and sales of investment securities within investing activities on JCG's Consolidated Statements of Cash Flows. Sales and redemptions of consolidated seeded investment products should be presented as a financing activity and the offsetting purchase and sales of investment securities within the consolidated seeded investment products should be presented as an investing activity. Cash flows related to consolidated seeded investment products are now presented on a gross basis, within the "Purchases of securities by consolidated seeded investment products, net of sales" and "Third-party investments in consolidated seeded investment products, net of redemptions" captions on JCG's Consolidated Statements of Cash Flows. Net investing activities were previously reported as $128.4 million and ($141.7) million for the years ended December 31, 2014 and 2013, respectively, and were adjusted by ($60.9) million and ($93.6) million for the respective years. Net financing activities were previously reported as ($238.3) million and ($123.3) million for the years ended December 31, 2014 and 2013, respectively, and were adjusted by $60.9 million and $93.6 million for the respective years. The corrections had no impact on the net change in cash and cash equivalents for the years ended December 31, 2014 or 2013. Accounting Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and the differences could be material. JCG's significant estimates relate to investment securities, goodwill and intangible assets, post-employment benefits, equity compensation and income taxes. Segment Information The Company's management directs JCG's operations as one business, the investment management business, and thus operates in one business segment. JCG's Chief Executive Officer reviews the Company's financial performance at an aggregate level. All of the products and services provided by the Company relate to investment management and are subject to similar regulatory frameworks. Further, JCG's investment management, sales, distribution and administrative teams are generally not aligned with specific product lines or distribution channels. Cash and Cash Equivalents Cash and cash equivalents consist of cash held at banks in the U.S. and outside the U.S., and short-term investments with an initial maturity of three months or less when purchased. JCG's cash equivalents consist primarily of debt securities and totaled $246.9 million and $300.2 million at December 31, 2015 and 2014, respectively. At December 31, 2015 and 2014, approximately $28 million and $24 million, respectively, of cash held outside the U.S. was not available for general corporate purposes due to capital requirements associated with foreign subsidiaries of JCG. In addition, $1.2 million and nil of cash associated with consolidated seeded investment products at December 31, 2015 and 2014, respectively, was not available for general corporate purposes. Property and Equipment Property and equipment is recorded at cost. Depreciation is recorded using the straight-line method over the estimated useful life of the related assets (or the lease term, if shorter). Depreciation expense totaled $11.5 million, $10.4 million and $11.2 million for the years ended December 31, 2015, 2014 and 2013, respectively. Property and equipment is summarized as follows (in millions): December 31, Depreciation period 2015 2014 Furniture, fixtures, computer equipment and software 3-7 years $ $ Leasehold improvements 3-24 years ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, gross ​ ​ ​ Accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, net ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Computer equipment includes certain leased items that have been designated as capital leases and represented $12.0 million and $6.8 million of the gross property and equipment balance on the Consolidated Balance Sheets at December 31, 2015 and 2014, respectively. Purchased software is recorded at cost and depreciated over its estimated useful life. Internal and external costs incurred in connection with developing or obtaining software for internal use are expensed as incurred during the preliminary project stage, as are training and maintenance costs. Internal and external costs incurred for internal use software during the application development stage are capitalized until such time that the software is substantially complete and ready for its intended use. Application development stage costs are depreciated on a straight-line basis over the estimated useful life of the software. Capitalized software costs totaled $13.0 million and $10.4 million at December 31, 2015 and 2014, respectively, and are presented within property and equipment, net on the Consolidated Balance Sheets. JCG evaluates its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The evaluation is based on an estimate of the future cash flows expected to result from the use of the asset and its eventual disposition. If expected future undiscounted cash flows are less than the carrying amount of the asset, an impairment loss is recognized in an amount equal to the excess of the carrying amount of the asset over the fair value of the asset. There were no impairments of long-lived assets for the years ended December 31, 2015, 2014 and 2013. Deferred Commissions Sales commissions paid to financial intermediaries on sales of certain mutual fund shares are deferred and amortized over various periods, not exceeding four years, based on the estimated recoverability of the asset through distribution fee payments and contingent deferred sales charges. Contingent deferred sales charges received from early redemptions reduce the unamortized deferred commissions balance. Amortization expense for the years ended December 31, 2015, 2014 and 2013, totaled $10.2 million, $5.6 million and $5.3 million, respectively. Deferred commissions, which are recorded as components of other current assets and other non-current assets on the Consolidated Balance Sheets, are summarized as follows as of December 31, 2015 and 2014 (in millions): December 31, 2015 2014 Deferred commissions — current $ $ Deferred commissions — non-current ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment Securities JCG classifies investment securities as trading, available-for-sale or held-to-maturity at the time of purchase and periodically re-evaluates such classifications. Trading securities are carried on JCG's Consolidated Balance Sheets at fair value and consist primarily of investments related to seeded investment products, investments in advised mutual funds and investments related to the economic hedging of deferred compensation. Seeded Investment Products JCG periodically adds new investment strategies to its investment product offerings by providing the initial cash investment or "seeding". The primary purpose of seeded investment products is to generate an investment performance track record in a product to attract third-party investors. JCG's initial investment in a new product represents 100% ownership in that product. Seeded investment products are initially consolidated and the individual securities within the portfolio are accounted for as trading securities. JCG consolidates such investment products as long as it holds a controlling interest in the investment product, defined as greater than 50% ownership. Noncontrolling interests in seeded investment products represent third-party ownership interests and are part of investment securities on JCG's Consolidated Balance Sheets. These assets are not available for general corporate purposes and may be redeemed by the third parties at any time. JCG's unconsolidated seeded investments products that fall within the 20% to 50% ownership range are classified as equity method and are carried on JCG's Consolidated Balance Sheets at fair value due to the nature of the underlying investments. The change in fair value of the unconsolidated seeded investment products is recorded in investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income. JCG may redeem invested seed capital for a variety of reasons, including when third-party investments in the relevant product are sufficient to sustain the given investment strategy. The length of time JCG holds a majority interest in a product varies based on a number of factors, including, but not limited to, market demand, market conditions and investment performance. The Company has determined that its seeded investment products do not represent variable interest entities. Seed investments are made largely in mutual funds, but may also be made in commingled pools and separate accounts. JCG has determined mutual funds to be voting interest entities rather than variable interest entities. Commingled pools are established as limited liability companies or partnerships, and as such, the Company applies partnership accounting rules. These rules dictate that a managing member or general partner would not consolidate an entity if the members or limited partners carry substantive kick-out rights. All of the Company's commingled pools carry substantive kick-out rights. Seed investments in separate accounts strategies are generally 100% owned by JCG and are accounted for as trading securities. Available-for-Sale Securities Investment securities classified as available-for-sale consist of unconsolidated seeded investment products in which JCG holds a less than 20% interest and are carried on JCG's Consolidated Balance Sheets at fair value. Changes in fair value are reflected as a component of other comprehensive loss, net of tax on JCG's Consolidated Statements of Comprehensive Income until realized. Accumulated gains and losses are reclassified to earnings when the securities are sold on a first-in, first-out cost basis. Investments in Advised Mutual Funds and Investments Related to the Economic Hedging of Deferred Compensation JCG grants mutual fund share awards to employees that are indexed to certain funds managed by JCG. Upon vesting, participants receive the value of the mutual fund share awards adjusted for gains or losses attributable to the mutual funds to which the award was indexed, subject to tax withholding. The Company maintains deferred compensation plans for certain highly compensated employees and members of its Board of Directors. Eligible participants may defer a portion of their compensation and have the ability to earn a return by indexing their deferrals to mutual funds managed by the Company and its subsidiaries. The Company makes no contributions to the plan. To protect against market variability of the liability, the Company creates an economic hedge by investing in mutual funds that are consistent with the deferred amounts and mutual fund elections of the participants. Such investments remain assets of JCG. Changes in market value of the liability to participants are recognized as long-term incentive compensation in JCG's Consolidated Statements of Comprehensive Income and changes in the market value of the mutual fund securities are recognized in investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income. Impairment Evaluation JCG periodically evaluates the carrying value of investment securities classified as available-for-sale or held-to-maturity for potential impairment. In determining if an impairment exists, JCG considers the duration, extent and circumstances of any decline in fair value. For equity securities, JCG evaluates the securities in an unrealized loss position in the available-for-sale portfolio for other-than-temporary impairment ("OTTI") on the basis of the duration of the decline in value of the security and severity of that decline as well as JCG's intent and ability to hold these securities for a period of time sufficient to allow for any anticipated recovery in the market value. If it is determined that the impairment on an equity security is other-than-temporary, an impairment loss equal to the difference between the carrying value of the security and its fair value is recognized within investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income. There were no OTTI of investment securities for the years ended December 31, 2015, 2014 and 2013. Derivative Instruments The Company maintains an economic hedge program that uses derivative instruments to hedge against market volatility of certain of its seed investments. Fluctuations in equity markets, debt markets and commodity markets are hedged by using index swaps, index and commodity futures ("futures"), and credit default swaps. These derivative instruments are not classified as hedges for accounting purposes. The Company records all derivatives as either assets or liabilities on JCG's Consolidated Balance Sheets and measures those investments at fair value. Changes in the value of the index swaps, futures and credit default swaps are recognized as a component of investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income. The Company's consolidated seeded investment products may also be party to derivative instruments from time to time. These derivative instruments are disclosed separately from the Company's derivative instruments related to its economic hedge program. Refer to Note 5 — Investment Securities. Fair Value Measurements Fair value of assets and liabilities is determined using observable market data based on recent trading activity. Where observable market data is unavailable due to a lack of trading activity, JCG utilizes internally developed models to estimate fair value and independent third parties to validate assumptions, when appropriate. Estimating fair value requires significant management judgment, including benchmarking to similar instruments with observable market data and applying appropriate discounts that reflect differences between the securities that JCG is valuing and the selected benchmark. Depending on the type of securities owned by JCG, other valuation methodologies may be required. Measurements of fair value are classified within a hierarchy based upon the transparency of inputs used in the valuation of an asset or liability. Classification within the hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The valuation hierarchy contains three levels: • Level 1 — Valuation inputs are unadjusted quoted market prices for identical assets or liabilities in active markets. • Level 2 — Valuation inputs are quoted market prices for identical assets or liabilities in markets that are not active, quoted market prices for similar assets and liabilities in active markets, and other observable inputs directly or indirectly related to the asset or liability being measured. • Level 3 — Valuation inputs are unobservable and significant to the fair value measurement. Level 1 Fair Value Measurements JCG's Level 1 fair value measurements consist primarily of seeded investment products, investments in advised mutual funds, cash equivalents and investments related to deferred compensation plans with quoted market prices in active markets. The fair value level of consolidated seeded investment products is determined by the underlying securities of the product. The fair value level of unconsolidated seeded investment products and available-for-sale seeded investment products are valued using the respective net asset value ("NAV") of each product. All seeded investment products that use the NAV to determine their fair value are classified as Level 1 and primarily represent seeded mutual funds where JCG's ownership level is under 50%. Level 2 Fair Value Measurements JCG's Level 2 fair value measurements consist mostly of cash equivalents, consolidated seeded investment products and JCG's long-term debt. Cash equivalents are short-term, highly liquid investments with an initial maturity of three months or less when purchased and consist primarily of commercial paper, certificates of deposits and other debt investments. The fair value of consolidated seeded investment products where JCG's ownership level is above 50% is determined by the underlying securities of the product. The fair value of JCG's long-term debt is determined using broker quotes and recent trading activity, which are considered Level 2 inputs. Level 3 Fair Value Measurements JCG's Level 3 recurring fair value measurements largely represent redeemable noncontrolling interests in INTECH and contingent cash consideration related to the acquisitions of VelocityShares and Kapstream. Redeemable noncontrolling interests in INTECH are measured at fair value on a quarterly basis or more frequently if events or circumstances indicate that a material change in the fair value of INTECH has occurred. The fair value of INTECH is determined using a market approach valuation methodology that incorporates observable metrics from publicly traded peer companies as valuation comparables, and adjustments related to investment performance and changes in assets under management. Refer to Note 4 — Acquisitions for a detailed discussion of VelocityShares and Kapstream contingent consideration. Nonrecurring Fair Value Measurements Nonrecurring Level 3 fair value measurements include goodwill and intangible assets. JCG measures the fair value of the reporting unit and intangible assets using a discounted cash flow analysis that requires assumptions regarding projected future earnings and discount rates. Because of the significance of the unobservable inputs in the fair value measurements of these assets and liabilities, such measurements have been classified as Level 3. Income Taxes Deferred income tax assets and liabilities are recorded for the temporary differences between the financial statement and income tax bases of assets and liabilities as measured by the enacted income tax rates that may be in effect when these differences reverse. The effect of changes in tax rates on deferred tax assets and liabilities is recognized in the period that includes the enactment date. Significant management judgment is required in developing JCG's provision for income taxes, including the valuation allowances that might be required against deferred tax assets and the evaluation of various income tax contingencies. The accounting guidance for uncertainty in income taxes sets forth a specific method for the financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return. The tax contingencies liability relates primarily to general state tax items and has been recorded in other accrued liabilities and other non-current liabilities on JCG's Consolidated Balance Sheets, as appropriate. Taxing authorities generally charge interest and may assess penalties in the event that a tax position taken is subsequently reversed upon examination. JCG has accrued interest on its uncertain tax provisions based on the rates specified by the applicable taxing authorities and has recorded the interest as a component of the tax provision. Accrued interest of $0.8 million, $0.8 million and $1.3 million was included in the liability for tax contingencies at December 31, 2015, 2014 and 2013, respectively. Any potential penalties associated with a tax contingency will also be included as a component of the tax provision in the period in which the assessment of a penalty becomes likely. JCG does not believe that it is subject to any penalties related to its tax contingencies and, therefore, has not accrued a liability for tax penalties. In the event of an overpayment of income taxes, taxing authorities generally pay interest from the date of the overpayment. JCG records interest income from taxing authorities as a component of the income tax provision. Goodwill and Intangible Assets, Net Goodwill represents the excess of cost over the fair value of the identifiable net assets of acquired companies. Identifiable intangible assets generally represent the cost of client relationships and investment management agreements acquired as well as brand name and trademark. Goodwill and indefinite-lived intangible assets are tested for impairment annually as of October 1 or more frequently if events or circumstances indicate that the carrying value may not be recoverable. Intangible assets subject to amortization are tested for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. Goodwill and intangible assets require significant management estimates and judgment, including the valuation and expected life determination in connection with the initial purchase price allocation and the ongoing evaluation for impairment. Noncontrolling Interests and Redeemable Noncontrolling Interests Noncontrolling interests that are not subject to redemption rights are classified in permanent equity. Redeemable noncontrolling interests are classified outside of permanent equity on the Consolidated Balance Sheets and are measured at estimated fair value as of the balance sheet dates. Changes in fair value of redeemable noncontrolling interests are recognized as increases or decreases to redeemable noncontrolling interests with an offsetting charge to retained earnings. Certain of the INTECH ownership interests granted to employees become subject to redemption rights upon vesting at which time such interests are reclassified to redeemable noncontrolling interests. Earnings attributable to noncontrolling interests that are and are not subject to redemption rights are combined in JCG's Consolidated Statements of Comprehensive Income. Acquisitions of entities in which JCG holds an existing controlling interest are treated as a reduction of noncontrolling interests or redeemable noncontrolling interests in an amount equal to the purchase price. See Note 11 — Noncontrolling Interests for further discussion of noncontrolling interests. Revenue Recognition Investment management and shareowner servicing fees are recognized as services are provided. These revenues are generally determined in accordance with contracts based upon a percentage of average assets under management. Performance fee revenue is derived from certain mutual funds and separate accounts. Mutual fund performance fees represent an adjustment to the investment management fee of certain mutual funds and are based on the relative investment performance of each fund compared to a specific benchmark index. The adjustment is up to a positive or negative 15 basis points and is calculated using each fund's daily net average assets based on a trailing 36-month measurement period. Separate account performance fees are specified in client contracts and are based on investment performance as compared to an established benchmark index over a specified period of time. Separate account performance fees are recognized at the end of the contractual period if the stated performance criteria are achieved. Marketing Marketing and promotional costs are generally expensed as incurred. Stock-Based Compensation Stock-based compensation cost is based on the grant date fair value of awards expected to vest at the end of the stated service period and consists of the total value of the awards less an estimate for forfeitures. The grant date fair value for stock options is determined using the Black-Scholes option pricing model, and the grant date fair value of restricted stock is determined from the market price on the date of grant. The Black-Scholes model requires management to estimate certain variables, including the lives of options from grant date to exercise date, the volatility of the underlying shares and future dividend rates. JCG estimates, at the time of grant, the amount of awards that are not expected to vest based on historical forfeiture rates and subsequently records adjustments, as appropriate. Earnings Per Share JCG calculates basic and diluted earnings per share using the two-class method, as common shares and participating restricted stock awards are paid nonforfeitable dividends. Under the two-class method, net income attributable to JCG is adjusted for the allocation of earnings to participating restricted stock awards. In addition, the weighted-average diluted common shares outstanding are calculated using the two-class method. Contingent Consideration The transaction to acquire a controlling 51% voting interest in Kapstream included contingent cash consideration. The contingent cash consideration is payable at 18 and 36 months after acquisition if certain Kapstream assets under management reach defined targets. The total maximum payment over the entire contingent consideration period is $9.1 million as of December 31, 2015. The fair value of the contingent consideration is calculated on a quarterly basis by forecasting certain Kapstream assets under management over the contingency period and determining whether the forecasted amounts meet the defined targets. Significant unobservable inputs used in the valuation are limited to forecasted Kapstream assets under management. The acquisition of VelocityShares in 2014 included contingent cash consideration. The payments are contingent on certain VelocityShares' ETPs reaching defined net revenue targets on the first, second, third and fourth anniversaries of the acquisition, in amounts up to $10.0 million each for the first and second anniversaries, and $8.0 million each for the third and fourth anniversaries. The fair value of the contingent consideration is calculated on a quarterly basis by forecasting net ETP revenue, as defined by the purchase agreement, over the contingency period, and determining whether targets are met given forecasted VelocityShares operating results. Forecasted contingent payments are then discounted back to the valuation date. Significant unobservable inputs used in the valuation are limited to forecasted gross revenues and certain expense items, which are deducted from these revenues. Increases in forecasted net revenue increase the fair value of the consideration, subject to payment limitations, while decreases in net revenues would decrease the fair value. The total maximum payment over the entire contingent consideration period is $36.0 million. In November 2015, VelocityShares reached the defined net revenue target and the Company paid the first contingent consideration amount of $10.0 million, which represents the maximum amount for the first anniversary.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2015
RECENT ACCOUNTING PRONOUNCEMENTS
RECENT ACCOUNTING PRONOUNCEMENTS	Note 3 — Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued a new revenue recognition standard. The standard's core principle is that a company will recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the standard specifies the accounting for certain costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. In August 2015, the FASB deferred the effective date of the new revenue standard by one year. The revenue standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted for annual reporting periods beginning after December 15, 2016, including interim reporting periods within those annual periods. The Company is evaluating the effect of adopting this new accounting standard. In February 2015, the FASB issued amendments to its consolidation standard that eliminate the deferral for investment funds and modify the analysis for determining if an entity is a variable interest entity ("VIE"). The amendments also include a scope exception for money market funds and change how related party interests affect the consolidation analysis of VIEs. The amended VIE analysis changes the assessment of kick-out rights and fees paid to a service provider when decision-making over an entity's most significant activities has been outsourced. Additionally, limited partnerships and similar entities will be considered VIEs under the amended standard unless limited partners hold substantive kick-out rights or participation rights. The standard is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. The Company expects that certain of its seeded investment products residing in foreign mutual fund trusts will qualify as VIEs and will be subject to consolidation at a lower ownership percentage than the currently employed threshold of 50%. In April 2015, the FASB issued an amendment to its debt standard requiring debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with the presentation of debt discounts and premiums. The standard is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. At December 31, 2015, the Company had approximately $3.9 million of debt issuance costs in other current assets and other non-current assets on its Consolidated Balance Sheets that meet the criteria of this amendment. In November 2015, the FASB issued accounting guidance that simplifies the presentation of deferred income taxes. The guidance requires that deferred tax balances be classified as non-current in a statement of financial position. JCG early adopted this guidance effective December 31, 2015, on a prospective basis. Adoption of the guidance resulted in a reclassification of the Company's net current deferred tax balance to the net non-current deferred tax balance in our Consolidated Balance Sheet as of December 31, 2015. No prior periods were retrospectively adjusted. In January 2016, the FASB issued amendments to its financial instruments standard, including changes relating to the accounting for equity investments, and the presentation and disclosure requirements for financial instruments. Under the amended guidance, all equity investments in unconsolidated entities (other than those accounted for using the equity method of accounting) will generally be measured at fair value through earnings. There will no longer be an available-for-sale classification (changes in fair value reported in other comprehensive income) for equity securities with readily determinable fair values. The amended guidance also requires financial assets and financial liabilities to be presented separately in the notes to the financial statements, grouped by measurement category (e.g., fair value, amortized cost, lower of cost or market) and form of financial asset (e.g., loans, securities). The standard is effective in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is evaluating the effect of adopting this new accounting standard. As indicated, changes in the fair value of the Company's investments securities classified as available-for-sale will no longer be reported through other comprehensive income, but rather through earnings.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2015
ACQUISITIONS
ACQUISITIONS	Note 4 — Acquisitions Acquisition of Kapstream On July 1, 2015, JCG announced and closed the acquisition of a controlling 51% voting interest in Kapstream, a global macro fixed income asset manager located in Australia. The acquisition serves to further expand JCG's fixed income capabilities and build out its global macro fixed income team. JCG has an option to purchase the remaining 49% interest from Kapstream management on the third and fourth anniversaries of the acquisition. The transaction included initial upfront cash consideration of $84.1 million and contingent consideration with a present value of $6.0 million, with the contingent consideration payable at 18 and 36 months after acquisition if certain Kapstream assets under management reach defined targets. The total maximum payment over the entire contingent consideration period is $9.1 million as of December 31, 2015. The fair value of the contingent consideration is calculated on a quarterly basis by forecasting certain Kapstream assets under management over the contingency period and determining whether the forecasted amounts meet the defined targets. Significant unobservable inputs used in the valuation are limited to forecasted Kapstream assets under management. Fair value adjustments to the contingent consideration during the year ended December 31, 2015, resulted in a $1.2 million increase to the liability and expense, including the monthly accretion of the liability to the future value of the consideration. At December 31, 2015, the contingent consideration had a fair value of $6.9 million; $3.8 million and $3.1 million was included in the other accrued liabilities and other non-current liabilities on JCG's Consolidated Balance Sheets, respectively. The Company also acquired certain distribution rights for an additional cash consideration of $3.9 million. The Company incurred $2.1 million in investment bank advisory fees and other deal costs during the second quarter 2015 related to the acquisition. The deal costs are included in general, administrative and occupancy on JCG's Consolidated Statements of Comprehensive Income. JCG completed a preliminary allocation of the July 1, 2015 purchase price to the acquired assets during the third quarter 2015. Certain adjustments were recorded to intangible assets, goodwill and deferred income taxes in the fourth quarter 2015 and the purchase price allocation was finalized as of December 31, 2015. The total purchase price was allocated as follows (in millions): Preliminary purchase price allocation Adjustments Final purchase price allocation Assets: ​ ​ ​ Cash and cash equivalents $ $ — $ Investment securities ​ ​ — ​ Accounts receivable — Intangible assets ​ ​ ) ​ Goodwill Other current assets ​ ​ — ​ Other non-current assets, net — Liabilities: ​ ​ ​ Contingent consideration ) — ) Deferred income taxes ​ ) ​ ​ ) Other accrued liabilities ) — ) Noncontrolling interests ​ ) ​ — ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net assets acquired $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill represents the excess of cost over the fair value of the identifiable net assets acquired and is largely attributable to the existing workforce of Kapstream. The acquisition will expand JCG's fixed income capabilities and reinforce the Company's efforts to build a global macro fixed income team. The goodwill recognized as a result of the acquisition is not deductible for tax purposes. The intangible assets include investment management agreements, client relationships and trade name. The client relationships have an estimated useful life of 10 years and are being amortized over the 10-year period. The investment management agreements and trade name have an indefinite life and as such, are not being amortized. Noncontrolling interests were recognized on the Consolidated Balance Sheets for the 49% interest in Kapstream held by Kapstream management. The fair value of the noncontrolling interests as of the acquisition date of July 1, 2015, was $85.7 million. Kapstream's functional currency is the Australian dollar. Assets and liabilities of Kapstream are translated into U.S. dollars at current exchange rates as of the end of each accounting period. Related revenue and expenses are translated at average exchange rates during the accounting period. Net translation gains and losses are excluded from income and recorded in other comprehensive loss, net of tax on the Company's Consolidated Statements of Comprehensive Income. JCG recognized a foreign currency translation loss of $4.3 million for the year ended December 31, 2015, related to Kapstream. Acquisition of VelocityShares On October 13, 2014, the Company entered into an agreement to acquire 100% of the outstanding voting equity interests of VS Holdings Inc., the parent company of VelocityShares. VelocityShares is a sponsor of ETPs, including rules-based exchange-traded funds ("ETFs"), which provide volatility management solutions to institutional clients. As of December 31, 2015 and 2014, VelocityShares-branded products had $3.2 billion and $2.4 billion in assets, respectively. The majority of these assets represent tactical trading products serving short-term investors and traders in the form of exchange-traded notes. The acquisition of VelocityShares is expected to facilitate JCG's entrance into the ETP business. On December 1, 2014, JCG announced the closing of the VelocityShares acquisition. The transaction included initial upfront cash consideration of $32.7 million with up to an additional $36.0 million in contingent cash consideration if certain revenue targets are achieved over a four-year period. The contingent consideration is payable on the first, second, third and fourth anniversaries of the acquisition, in amounts up to $10.0 million each for the first and second anniversaries, and $8.0 million each for the third and fourth anniversaries. The total maximum payment over the entire contingent consideration period is $36.0 million. In November 2015, VelocityShares reached the defined net revenue target and the Company paid the first contingent consideration amount of $10.0 million, which represents the maximum amount for the first anniversary. The payments are contingent on certain VelocityShares' ETPs reaching defined net revenue targets. The fair value of the contingent consideration is calculated on a quarterly basis by forecasting net ETP revenue, as defined by the purchase agreement, over the contingency period, and determining whether targets are met given forecasted VelocityShares operating results. Forecasted contingent payments are then discounted back to the valuation date. Significant unobservable inputs used in the valuation are limited to forecasted gross revenues and certain expense items, which are deducted from these revenues. Increases in forecasted net revenue increase the fair value of the consideration, subject to payment limitations, while decreases in net revenues would decrease the fair value. Fair value adjustments to the contingent consideration during the year ended December 31, 2015, resulted in a $5.2 million increase to the liability and expense, including the monthly accretion of the liability to the future value of the consideration. At December 31, 2015, $8.1 million and $5.0 million of the contingent consideration was included in other accrued liabilities and other non-current liabilities on JCG's Consolidated Balance Sheets, respectively. The total purchase price, including the upfront payment and the present value of the expected contingent payments, was allocated as follows: Assets: ​ Intangible assets $ Goodwill ​ Cash acquired Liabilities: ​ Deferred tax liability ) Other liabilities, net ​ ) ​ ​ ​ ​ ​ Net assets acquired $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2015
INVESTMENT SECURITIES
INVESTMENT SECURITIES	Note 5 — Investment Securities JCG's investment securities as of December 31, 2015 and 2014, are summarized as follows (in millions): December 31, 2015 2014 Trading securities: ​ ​ Consolidated seeded investment products $ $ Unconsolidated seeded investment products (1) ​ ​ Investments in advised mutual funds Investments related to deferred compensation plans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total trading securities Available-for-sale securities: ​ ​ Unconsolidated seeded investment products ​ ​ ​ ​ ​ ​ ​ ​ Total investment securities $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Represents unconsolidated seeded investment products where JCG's ownership percentage is between 20% and 50%. The investments are classified as equity method and are carried at fair value due to the nature of the underlying investments. Trading Securities Seeded investment products classified as trading securities consisted of the following as of December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Fair value (in millions) Number of products Fair value (in millions) Number of products Mutual funds advised by the Company: ​ ​ ​ ​ Consolidated $ $ Unconsolidated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total mutual funds advised by the Company $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Separate accounts: ​ ​ ​ ​ Consolidated $ $ Unconsolidated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total separate accounts $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains and (losses) recognized on trading securities still held as of December 31, 2015, 2014 and 2013, are summarized as follows (in millions): Year ended December 31, 2015 2014 2013 Trading securities still held at period end $ ) $ $ Available-for-Sale Securities Seeded investment products classified as available-for-sale securities consisted of the following as of December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Fair value (in millions) Number of products Fair value (in millions) Number of products Mutual funds advised by the Company $ ​ $ ​ The following is a summary of available-for-sale securities at December 31, 2015 and 2014 (in millions): December 31, 2015 Gross unrealized investment Foreign currency translation Estimated fair value Carrying value Cost Gains Losses Available-for-sale securities: ​ ​ ​ ​ ​ ​ Unconsolidated seeded investment products $ $ $ ) $ ) $ $ December 31, 2014 Gross unrealized investment Foreign currency translation Estimated fair value Carrying value Cost Gains Losses Available-for-sale securities: ​ ​ ​ ​ ​ ​ Unconsolidated seeded investment products $ $ $ ) $ ) $ $ The Company reviewed the gross unrealized losses on available-for-sale securities and determined that the losses were not other-than-temporary. No OTTI charges were recognized for the years ended December 31, 2015, 2014 or 2013. Realized gains and losses related to the disposition of seeded investment products classified as available-for-sale securities were recognized within investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income. The following is a summary of realized gains (losses) upon disposition of seeded investment products classified as available-for-sale securities for the years ended December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Realized gains $ — $ $ Realized losses — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net realized gains (losses) $ — $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Instruments The Company maintains an economic hedge program that uses derivative instruments to hedge against market volatility of certain seeded investments. Fluctuations in equity markets, debt markets, commodity markets and foreign currency markets are hedged by using index swaps, index and commodity futures, credit default swaps and foreign currency forward contracts. JCG reassessed its hedging strategy related to foreign currency exposure on certain seeded investments during the third quarter 2015 and determined the hedging strategy was no longer necessary. As such, JCG exited the foreign currency forward positions and was not party to any foreign currency derivatives as of December 31, 2015. JCG also reassessed its hedging strategy related to credit exposure associated with certain seeded investment products in the third quarter 2015 and entered into credit default swaps to reduce its exposure. JCG was party to the following derivative instruments as of December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Number of contracts Notional value (in millions) Number of contracts Notional value (in millions) Index swaps ​ $ ​ $ Futures $ $ Credit default swaps ​ $ ​ — $ — Foreign currency forward contracts — $ — $ The derivative instruments are not designated as hedges for accounting purposes. Changes in fair value of the index swaps, index and commodity futures, and credit default swaps are recognized in investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income while changes in the fair value of the foreign currency forward contracts are recognized in other income, net on JCG's Consolidated Statements of Comprehensive Income. Index swaps are subject to a master netting arrangement. The values of the individual index swap contracts, including any associated cash collateral, are combined and are included on a net basis in other current assets or other accrued liabilities on JCG's Consolidated Balance Sheets. Futures and credit default swaps are also subject to a master netting arrangement and are presented in the same manner as the index swaps. Foreign currency forward contracts are not subject to a master netting arrangement, and as such, fair values of individual contracts are not netted and are included separately within either other current assets or other accrued liabilities on JCG's Consolidated Balance Sheets. The Company posted $3.3 million and $1.7 million in cash collateral with the counterparty of the futures and credit default swaps as of December 31, 2015 and 2014, respectively. The cash collateral is included in other current assets on JCG's Consolidated Balance Sheets. The following tables illustrate the effect of offsetting derivative instruments on JCG's Consolidated Balance Sheets as of December 31, 2015 and 2014 (in millions): December 31, 2015 Gross amounts Gross amounts offset by derivative instruments Gross amounts offset by cash collateral Net amounts Assets: ​ ​ ​ ​ Futures $ $ ) $ — $ Liabilities: ​ ​ ​ ​ Index swaps $ $ — $ — $ Futures ​ ​ ) ​ — ​ — Credit default swaps — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2014 Gross amounts Gross amounts offset by derivative instruments Gross amounts offset by cash collateral Net amounts Assets: ​ ​ ​ ​ Index swaps $ $ — $ — $ Liabilities: ​ ​ ​ ​ Futures $ $ — $ ) $ — JCG recognized the following net gains (losses) on hedged seed investments and net gains (losses) on associated futures, credit default swaps and index swaps for the years ended December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Hedged seeded investments classified as trading securities (1) $ ) $ $ Hedged seeded investments classified as available-for-sale securities (1) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total hedged seeded investments ​ ) ​ ​ Futures ) ) ) Credit default swaps ​ ) ​ — ​ — Index swaps ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Includes net gains (losses) associated with hedged equity and fixed income seeded investment products. Hedging activity is limited to the systematic market risk associated with equity products and the interest rate risk associated with fixed income products. In September 2015, JCG started hedging credit risk associated with fixed income seeded investment products. JCG recognized the following net gains (losses) on hedged seed investments denominated in a foreign currency and net gains (losses) on associated foreign currency forward contracts for the years ended December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Foreign currency translation $ ) $ ) $ Foreign currency forward contracts ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ ) $ ) $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Instruments in Consolidated Seeded Investment Products Certain of the Company's consolidated seeded investment products utilize derivative instruments to contribute to the achievement of defined investment objectives. These derivative instruments are classified within investment securities on JCG's Consolidated Balance Sheets. Gains and losses on these derivative instruments are classified within investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income. The consolidated seeded investment products posted $4.7 million and $1.8 million in cash collateral with the counterparty of the derivative instruments as of December 31, 2015 and 2014, respectively. JCG's consolidated seeded investment products were party to the following derivative instruments as of December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Number of contracts Notional value (in millions) Number of contracts Notional value (in millions) Swaps ​ $ ​ $ Futures $ $ Foreign currency forward contracts ​ $ ​ $ Options $ $ The following tables illustrate the effect of offsetting derivative instruments within consolidated seeded investment products on JCG's Consolidated Balance Sheets as of December 31, 2015 and 2014 (in millions): December 31, 2015 Gross amounts Gross amounts offset by derivative instruments Gross amounts offset by cash collateral Net amounts Assets: ​ ​ ​ ​ Swaps $ $ ) $ — $ Futures ​ ​ ) ​ — ​ — Foreign currency forward contracts ) — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Swaps $ $ ) $ — $ — Futures ) ) — Foreign currency forward contracts ​ ​ ) ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ ) $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2014 Gross amounts Gross amounts offset by derivative instruments Gross amounts offset by cash collateral Net amounts Assets: ​ ​ ​ ​ Swaps $ $ ) $ — $ Futures ​ ​ ) ​ — ​ Options — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Swaps $ $ ) $ — $ — Futures ) — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2015, certain consolidated seeded investment products sold credit protection through the use of credit default swap contracts. The contracts provide alternative credit risk exposure to individual companies and countries outside of traditional bond markets. The terms of the credit default swap contracts range from one to five years. As sellers in credit default swap contracts, the consolidated seeded investment products would be required to pay the notional value of a referenced debt obligation to the counterparty in the event of a default on the debt obligation by the issuer. The notional value represents the estimated maximum potential undiscounted amount of future payments required in the event of a credit default event. As of December 31, 2015, the notional value of the agreements was $11.3 million. The credit default swap contracts include recourse provisions that allow for recovery of a certain percentage of amounts paid in the event of a credit default event. As of December 31, 2015, the fair value of the credit default swap contracts selling protection was $0.1 million. Investment Gains (Losses), Net Investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income included the following for the years ended December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Seeded investment products $ ) $ $ Noncontrolling interests in seeded investment products ) Investments in advised mutual funds ​ ) ​ ) ​ Index swaps, credit default swaps and futures ) ) Economic hedge for deferred compensation plans ​ ​ ​ Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment gains (losses), net $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchases, Sales, Settlements and Maturities Cash flows related to investment securities for the years ended December 31, 2015, 2014 and 2013, are summarized as follows (in millions): Year ended December 31, 2015 2014 2013 Purchases and settlements Sales, settlements and maturities Purchases and settlements Sales, settlements and maturities Purchases and settlements Sales, settlements and maturities Trading securities $ ) $ $ ) $ $ ) $ Available-for-sale securities ) ) ) Derivative instruments: ​ ​ ​ ​ ​ ​ Seed capital economic hedge ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total cash flows $ ) $ $ ) $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2015
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	Note 6 — Goodwill and Intangible Assets JCG's goodwill and intangible assets are summarized below (in millions): December 31, 2014 Acquisition Amortization Foreign currency translation December 31, 2015 Indefinite-lived intangible assets: ​ ​ ​ ​ ​ Investment management agreements $ $ $ — $ ) $ Brand name and trademark ​ ​ ​ — ​ ) ​ Definite-lived intangible assets: Client relationships ​ ​ ​ — ​ ) ​ Accumulated amortization ) — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net intangible assets $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill $ $ $ — $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The majority of goodwill and intangible assets were generated from the 2001 buyout of the founder of Janus and acquisitions of interests in INTECH, Perkins, Kapstream and VelocityShares. Intangible assets acquired as a result of these transactions include brand name and trademark, investment management agreements and client relationships. Foreign currency translation relates to the Kapstream intangible assets and goodwill that are translated from Australian dollar to U.S. dollar at the end of each period. Definite-lived intangible assets represent client relationships, which are amortized over their estimated lives using the straight-line method. The estimated lives of the client relationships vary and range from 10 years to 17 years. There were no intangible asset impairment charges recognized during the years ended December 31, 2015, 2014 and 2013. Amortization expense was $11.3 million, $9.6 million and $12.2 million for the years ended December 31, 2015, 2014 and 2013, respectively. Expected future amortization expense is summarized below (in millions): Year ended December 31, Amount 2016 $ 2017 2018 ​ 2019 2020 ​ Thereafter ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impairment Testing The October 2015 tests of goodwill and indefinite-lived intangible assets indicated that estimated fair values of the reporting unit substantially exceeded their respective carrying values, and as such, no impairment charges were recognized. The October 2015 tests included certain underlying key assumptions regarding future overall market trends and Company operating performance. If actual future market results and Company operating performance vary significantly and unfavorably to those included in the Company's financial forecast, the Company may be subject to impairment charges related to its goodwill and indefinite-lived intangible assets. No impairment charges were recognized as a result of the October 2014 and 2013 tests of goodwill and indefinite-lived intangible assets.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2015
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	Note 7 — Fair Value Measurements The following table presents assets, liabilities and redeemable noncontrolling interests presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of December 31, 2015 (in millions): Fair value measurements using: Quoted prices in active markets for identical assets and liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total Assets: ​ ​ ​ ​ Cash equivalents $ $ $ — $ Futures ​ ​ — ​ — ​ Trading securities: Consolidated seeded investment products ​ ​ ​ — ​ Unconsolidated seeded investment products (1) — — Investments in advised mutual funds ​ ​ — ​ — ​ Investments related to deferred compensation plans — — Available-for-sale securities: ​ ​ ​ ​ Unconsolidated seeded investment products — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total investment securities ​ ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ Index swaps $ — $ $ — $ Futures ​ ​ — ​ — ​ Credit default swaps — — Current portion of long-term debt (2) ​ — ​ ​ — ​ Long-term debt (1) — — Kapstream contingent consideration ​ — ​ — ​ ​ VelocityShares contingent consideration — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Redeemable noncontrolling interests: Consolidated seeded investment products $ $ $ — $ INTECH — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total redeemable noncontrolling interests $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Represents unconsolidated seeded investment products where JCG's ownership percentage is between 20% and 50%. The investments are classified as equity method and are carried at fair value due to the nature of the underlying investments. (2) Carried at amortized cost and disclosed at fair value. The following table presents assets, liabilities and redeemable noncontrolling interests presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of December 31, 2014 (in millions): Fair value measurements using: Quoted prices in active markets for identical assets and liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total Assets: ​ ​ ​ ​ Cash equivalents $ $ $ — $ Index swaps ​ — ​ ​ — ​ Trading securities: Consolidated seeded investment products ​ ​ ​ — ​ Unconsolidated seeded investment products (1) — — Investments in advised mutual funds ​ ​ — ​ — ​ Investments related to deferred compensation plans — — Available-for-sale securities: ​ ​ ​ ​ Unconsolidated seeded investment products — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total investment securities ​ ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ Long-term debt (2) $ — $ $ — $ VelocityShares contingent consideration ​ — ​ — ​ ​ Futures — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Redeemable noncontrolling interests in INTECH $ — $ — $ $ (1) Represents unconsolidated seeded investment products where JCG's ownership percentage is between 20% and 50%. The investments are classified as equity method and are carried at fair value due to the nature of the underlying investments. (2) Carried at amortized cost and disclosed at fair value. JCG's Level 3 recurring fair value measurements as of December 31, 2015 and 2014, are as follows (in millions): Year ended December 31, 2015 2014 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Kapstream contingent consideration Redeemable noncontrolling interests VelocityShares contingent consideration Beginning of year fair value $ $ $ — $ $ — Distributions ) ) — ) — Current earnings ​ ​ — ​ — ​ ​ — Purchase of redeemable noncontrolling interests — — — ) — Amortization of INTECH appreciation rights ​ ​ — ​ — ​ — ​ — Issuance — — — Foreign currency translation ​ — ​ — ​ ) ​ — ​ — Change in fair value ) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year fair value $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The change in fair value related to VelocityShares and Kapstream contingent consideration is unrealized and included in general, administrative and occupancy on the Consolidated Statements of Comprehensive Income. Transfers between Fair Value Levels The underlying securities of mutual funds and separate accounts may be denominated in a foreign currency. In some cases, the closing price of such securities may be adjusted to capture the effects of any post-closing activity affecting the markets in which they trade. Security prices are adjusted based upon historical impacts for similar post-close activity. These adjustments result in the securities being classified as Level 2 and may also result in movements of securities between Level 1 and Level 2. Additionally, the deconsolidation of a seeded investment product can cause changes to its fair value level classification. Upon deconsolidation, the entire seeded investment product is valued using the NAV rather than valued using its underlying securities. Generally, seeded investment products that use the NAV to determine their fair value are classified as Level 1. During the first quarter 2015, the Global Unconstrained Bond Fund in the Company's international trust was deconsolidated and its $44.3 million of Level 2 assets were reclassified to Level 1. Transfers are recognized at the end of each reporting period. Transfers from Level 1 and Level 2 classifications for the years ended December 31, 2015 and 2014, are summarized as follows (in millions): Year ended December 31, 2015 2014 Transfers from Level 1 to Level 2 $ — $ Transfers from Level 2 to Level 1 $ $

DEBT

DEBT	12 Months Ended
	Dec. 31, 2015
DEBT
DEBT	Note 8 — Debt Debt at December 31, 2015 and 2014, consisted of the following (in millions): December 31, 2015 December 31, 2014 Carrying value Fair value Carrying value Fair value 4.875% Senior Notes due 2025 $ $ $ — $ — 0.750% Convertible Senior Notes due 2018 6.700% Senior Notes due 2017 ​ — ​ — ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Total debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less: Current maturities ​ ​ ​ — ​ — ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Total long-term debt $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value of Debt The fair value of debt was determined using broker quotes and any recent trading activity for each of the notes listed above, which are considered Level 2 inputs. 4.875% Senior Notes due 2025 In July 2015, JCG issued $300.0 million of 4.875% Senior Notes due 2025 ("2025 Senior Notes") which pay interest at 4.875% semiannually on February 1 and August 1 of each year and mature on August 1, 2025. JCG incurred $2.6 million of debt issuance costs associated with the issuance of the notes that were recorded in other non-current assets on JCG's Consolidated Balance Sheets and will be amortized to interest expense over the 10-year term of the notes. The 2025 Senior Notes include an unamortized discount at December 31, 2015, of $2.8 million, which will also be amortized over the 10-year term of the notes. The proceeds from the 2025 Senior Notes and cash on hand were used to fully redeem the 6.700% Senior Notes due 2017 ("2017 Senior Notes"). 0.750% Convertible Senior Notes due 2018 The 0.750% Convertible Senior Notes due 2018 ("2018 Convertible Notes") include an unamortized discount at December 31, 2015, of $7.7 million, which will be amortized over the remaining term of the notes. Interest expense related to the 2018 Convertible Notes includes interest on the outstanding principal balance as well as amortization of capitalized issuance costs and totaled $4.3 million for the year ended December 31, 2015. Interest on the 2018 Convertible Notes is paid semiannually in January and July. The 2018 Convertible Notes mature on July 15, 2018. The initial conversion rate of the 2018 Convertible Notes was 92.06 shares of JCG common stock per $1,000 principal amount of the 2018 Convertible Notes, which was equivalent to an initial conversion price of approximately $10.86 per share of common stock. The initial conversion rate was most recently adjusted during the fourth quarter 2015 when JCG paid a quarterly cash dividend of $0.09 per share, which was greater than the quarterly dividend of $0.07 per share at the time of issuance. As a result of the quarterly cash dividend paid on November 20, 2015, the conversion rate changed to 92.67 shares of JCG common stock per $1,000 principal amount of 2018 Convertible Notes, equivalent to a conversion price of approximately $10.79 per share of common stock. Holders of the 2018 Convertible Notes may convert the notes during a particular calendar quarter if the last reported sale price of JCG's common stock is greater than or equal to 130% of the applicable conversion price for at least 20 trading days during a period of 30 consecutive trading days ending on the last trading day of the preceding quarter. As of December 31, 2015, the 2018 Convertible Notes met the criteria for early conversion and are convertible during the first quarter 2016. The 2018 Convertible Notes conversion criteria are reassessed on a quarterly basis. Fluctuations in the price of JCG's common stock may cause reclassification of the 2018 Convertible Notes between long-term debt and current portion of long-term debt on JCG's Consolidated Balance Sheets on a quarter-to-quarter basis. Convertible Note Hedge and Warrants In connection with the 2018 Convertible Notes issuance in June 2013, JCG entered into convertible note hedge and warrant transactions which, in combination, are intended to reduce the potential for future dilution to existing shareholders by effectively increasing the initial conversion price of the 2018 Convertible Notes to JCG from $10.86 to $12.60 per share of common stock. The initial $10.86 and $12.60 per share of common stock exercise prices of the call options and warrants, respectively, were adjusted during the fourth quarter 2015 when JCG paid a quarterly cash dividend of $0.09 per share. As a result of the quarterly cash dividend paid on November 20, 2015, which was greater than the quarterly dividend of $0.07 per share at the time of issuance, the exercise price of the call options changed to $10.79 per share of common stock, and the exercise price of the warrants changed to $12.52 per share of common stock. 6.700% Senior Notes due 2017 In August 2015, JCG redeemed all of the outstanding 2017 Senior Notes using the proceeds from the 2025 Senior Notes and cash on hand. The redemption included payment of the principal balance and the present value of future interest payments of the 2017 Senior Notes. JCG recognized a loss on early extinguishment of debt of $36.3 million during the third quarter 2015. Credit Facility At December 31, 2015, JCG had a $200 million, unsecured, revolving credit facility (the "Credit Facility") with JPMorgan Chase Bank, N.A., as administrative agent and swingline lender. The Credit Facility can be used by JCG and its subsidiaries for working capital needs and general corporate purposes. The Credit Facility bears interest on borrowings outstanding at the London Interbank Offered Rate ("LIBOR") plus a spread, which is based on JCG's long-term unsecured debt credit rating ("credit rating"). JCG is required to pay a quarterly commitment fee on any unused portion of the Credit Facility, which is also based on JCG's credit rating. Under the Credit Facility, the financing leverage ratio cannot exceed 3.00x, and the interest coverage ratio must equal or exceed 4.00x. At December 31, 2015, JCG's financing leverage ratio was 0.98x and the interest coverage ratio was 16.86x. JCG was in compliance with all covenants, and there were no borrowings under the Credit Facility at December 31, 2015, or during the year ended December 31, 2015. The Credit Facility has a maturity date of November 23, 2018. Aggregate Maturities of Indebtedness The aggregate amounts of debt maturing or callable in the next five years are as follows (in millions): Year ended December 31, Amount 2016 $ — 2017 — 2018 (1) ​ 2019 — 2020 ​ — Thereafter ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Represents the fair value of the 2018 Convertible Notes as of December 31, 2015.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
INCOME TAXES
INCOME TAXES	Note 9 — Income Taxes JCG's components of income before taxes for the years ended December 31, 2015, 2014 and 2013, are as follows (in millions): Year ended December 31, 2015 2014 2013 Domestic $ $ $ International ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ JCG's provision for income taxes for the years ended December 31, 2015, 2014 and 2013, is summarized as follows (in millions): Year ended December 31, 2015 2014 2013 Current: ​ ​ ​ Federal $ $ $ State and local ​ ​ ​ International ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred: Federal ​ ​ ​ State and local — International ​ ​ ) ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total deferred ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total income tax provision $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ JCG's deferred income tax assets (liabilities) as of December 31, 2015 and 2014, are summarized as follows (in millions): December 31, 2015 2014 Deferred income tax assets: ​ ​ Compensation and benefits $ $ Accrued liabilities ​ ​ Investments Tax attributes ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Total deferred income tax assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income tax liabilities: Intangible assets ​ ) ​ ) Prepaid expenses ) ) Other ​ ) ​ ) ​ ​ ​ ​ ​ ​ ​ ​ Total deferred income tax liabilities ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred income tax liabilities $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax assets and liabilities are reflected on JCG's Consolidated Balance Sheets as follows (in millions): December 31, 2015 2014 Current deferred income tax asset $ — $ Non-current deferred income tax liability ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred income tax liabilities $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ In November 2015, the FASB issued accounting guidance that simplifies the presentation of deferred income taxes. The guidance requires that deferred tax balances be classified as non-current in a statement of financial position. JCG early adopted this guidance effective December 31, 2015, on a prospective basis. Adoption of the guidance resulted in a reclassification of the Company's net current deferred tax balance to the net non-current deferred tax balance in our Consolidated Balance Sheet as of December 31, 2015. No prior periods were retrospectively adjusted. JCG's effective income tax rate differs from the statutory federal income tax rate for the years ended December 31, 2015, 2014 and 2013, as follows: Year ended December 31, 2015 2014 2013 Federal statutory rate ​ % ​ % ​ % State and local tax rate, net of federal benefit Noncontrolling interests ​ ) ​ ) ​ ) Tax adjustments ) ) ) Equity-based compensation ​ — ​ ​ Other — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total effective income tax rate ​ % ​ % ​ % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The accounting guidance for uncertainty in income taxes sets forth a specific method for the financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return. The tax contingencies liability relates primarily to general state tax items and has been recorded in other non-current liabilities and other accrued liabilities on JCG's Consolidated Balance Sheets, as appropriate. A reconciliation of the beginning and ending liability for the years ended December 31, 2015, 2014 and 2013, is as follows (in millions): Year ended December 31, 2015 2014 2013 Beginning of year $ $ $ Additions for tax positions of current year Additions for tax positions of prior years ​ ​ — ​ — Reduction due to statute expirations ) ) ) Reduction due to settlement of audits ​ ) ​ — ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ A deferred tax asset of $1.9 million is associated with the tax contingencies liability at December 31, 2015. If the tax contingencies liability and related deferred tax asset are reversed in future periods, the income tax provision would be favorably affected by $3.5 million. As of December 31, 2015, JCG had $5.4 million of accrued reserves for income tax contingencies. JCG decreased its income tax contingency reserves in 2015 by $0.9 million as a result of the expiration of statutes of limitations and audit settlements, creating a net tax benefit of $0.5 million. JCG anticipates that its income tax contingency reserves will decrease by approximately $1.8 million in the next 12 months primarily from the expiration of statutes of limitations and the resolution of audits. Accrued reserves for income tax contingencies are presented in other accrued liabilities on JCG's Consolidated Balance Sheets. Tax returns filed in previous years are subject to audit by various federal, state and international taxing authorities, and as a result of such audits, additional tax assessments may be proposed. As of December 31, 2015, tax years from 2009 and forward remain subject to audit. Taxing authorities generally charge interest and may assess penalties in the event that a tax position taken is subsequently reversed upon examination. JCG has accrued interest on its uncertain tax provisions based on the rates specified by the applicable taxing authorities and has recorded the interest as a component of the tax provision. At December 31, 2015, 2014 and 2013, $0.8 million, $0.8 million and $1.3 million, respectively, of accrued interest is included in the liability for tax contingencies. Any potential penalties associated with a tax contingency will also be included as a component of the tax provision in the period in which the assessment of a penalty becomes likely. JCG does not believe that it is subject to any penalties related to its tax contingencies and, therefore, has not accrued a liability for tax penalties. In the event of an overpayment of income taxes, taxing authorities generally pay interest from the date of the overpayment. JCG records interest income from taxing authorities as a component of the income tax provision.

OTHER FINANCIAL STATEMENT CAPTI

OTHER FINANCIAL STATEMENT CAPTIONS	12 Months Ended
	Dec. 31, 2015
OTHER FINANCIAL STATEMENT CAPTIONS
OTHER FINANCIAL STATEMENT CAPTIONS	Note 10 — Other Financial Statement Captions Other current assets on JCG's Consolidated Balance Sheets at December 31, 2015 and 2014, are composed of the following (in millions): December 31, 2015 2014 Income tax receivable $ $ — Deferred commissions Prepaid insurance ​ ​ Prepaid information technology maintenance Deferred income taxes ​ — ​ Stock repurchase program funding — Other current assets ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Total other current assets $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other accrued liabilities on JCG's Consolidated Balance Sheets at December 31, 2015 and 2014, are composed of the following (in millions): December 31, 2015 2014 Accrued marketing and distribution $ $ Income tax contingencies Deferred compensation liability ​ ​ Interest payable Income tax payable ​ — ​ Contingent consideration Other accrued liabilities ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Total other accrued liabilities $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income, net on JCG's Consolidated Statements of Comprehensive Income for the years ended December 31, 2015, 2014 and 2013, is composed of the following (in millions): Year ended December 31, 2015 2014 2013 Dividend income $ $ $ Interest income Foreign currency gains (losses), net ​ ) ​ ) ​ Other, net — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other income, net $ $ $ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	12 Months Ended
	Dec. 31, 2015
NONCONTROLLING INTERESTS
NONCONTROLLING INTERESTS	Note 11 — Noncontrolling Interests Noncontrolling interests in net income for the years ended December 31, 2015, 2014 and 2013, consisted of the following (in millions): Year ended December 31, 2015 2014 2013 Redeemable noncontrolling interests in: ​ ​ ​ Consolidated seeded investment products $ $ — $ — INTECH ​ ​ ​ Nonredeemable noncontrolling interests in: Consolidated seeded investment products ​ — ​ ) ​ Kapstream — — INTECH ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Total noncontrolling interests in net income $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nonredeemable Noncontrolling Interests At December 31, 2015, noncontrolling interests that are not subject to redemption rights included Kapstream ownership interests and employee ownership interests in INTECH. Nonredeemable noncontrolling interests as of December 31, 2015 and 2014, are summarized as follows (in millions): December 31, 2015 2014 Nonredeemable noncontrolling interests in: ​ ​ Consolidated seeded investment products $ — $ Kapstream ​ ​ — INTECH ​ ​ ​ ​ ​ ​ ​ ​ Total nonredeemable noncontrolling interests $ $ ​ ​​ ​ ​ ​​ ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ On July 1, 2015, JCG announced and closed the acquisition of a 51% interest in Kapstream. The nonredeemable noncontrolling interests balance for Kapstream represents the 49% interest owned by Kapstream management. Redeemable Noncontrolling Interests As of December 31, 2015 and 2014, redeemable noncontrolling interests are summarized as follows (in millions): December 31, 2015 2014 Consolidated seeded investment products $ $ — INTECH: Appreciation rights ​ ​ — Founding member ownership interests Undistributed earnings ​ ) ​ ) ​ ​ ​ ​ ​​ ​ ​ ​ Total redeemable noncontrolling interests $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Seeded Investment Products Redeemable noncontrolling interests in consolidated seeded investment products may fluctuate from period to period and are impacted by changes in JCG's relative ownership percentage of seeded products, changes in the amount of third-party investment in seeded products and volatility in the market value of the seeded products' underlying securities. Third-party redemption of investments are redeemed from the respective product's net assets and cannot be redeemed from the assets of other seeded products or from the assets of JCG. The following table presents a rollforward of noncontrolling interests in consolidated seeded investment products for the years ended December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Beginning of year balance $ $ $ Changes in market value ) Changes in ownership ​ ) ​ ​ ) ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ End of year balance $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in ownership during the year ended December 31, 2015, primarily represent the deconsolidation of the Global Unconstrained Bond Fund within JCG's international trust and the deconsolidation of the Multi-Sector Income Fund. Third-party investment during 2015 brought JCG's ownership below 50%. INTECH INTECH ownership interests held by a founding member had an estimated fair value of $5.2 million and $5.9 million as of December 31, 2015 and 2014, respectively, representing approximately a 1.0% aggregate ownership of INTECH for both periods. This founding member is entitled to retain his remaining INTECH interests until his death and has the option to require JCG to purchase from him his ownership interests of INTECH at fair value. INTECH appreciation rights were granted in October 2014 to retain and incentivize employees. The appreciation rights had a grant date fair value of $23.2 million, which is being amortized on a straight-line basis over the 10-year vesting period, and are exercisable upon termination of employment from INTECH to the extent vested. Upon exercise, the appreciation rights are settled in INTECH equity.

LONG-TERM INCENTIVE COMPENSATIO

LONG-TERM INCENTIVE COMPENSATION	12 Months Ended
	Dec. 31, 2015
LONG-TERM INCENTIVE COMPENSATION
LONG-TERM INCENTIVE COMPENSATION	Note 12 — Long-Term Incentive Compensation The components of JCG's long-term incentive compensation expense for the years ended December 31, 2015, 2014 and 2013, are summarized as follows (in millions): Year ended December 31, 2015 2014 2013 Restricted stock awards $ $ $ Mutual fund share awards Profits interests and other ​ ​ ) ​ Stock options ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total long-term incentive compensation $ $ $ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Compensation cost associated with restricted stock includes $1.0 million, $1.7 million and $2.4 million of amortization of INTECH interests granted to certain key employees of INTECH for the years ended December 31, 2015, 2014 and 2013, respectively. Historical long-term incentive awards have been granted with ratable vesting schedules between three and 10 years. The awards granted in 2015, 2014 and 2013 were generally granted with a four-year ratable vesting schedule and are generally not subject to accelerated vesting. At December 31, 2015, unrecognized and unearned compensation, net of estimated forfeitures and excluding mark-to-market adjustments on mutual fund share awards, and the weighted-average number of years over which the compensation cost will be recognized are summarized as follows (in millions): Unrecognized compensation Weighted- average years Restricted stock awards $ ​ Profit interests and other Mutual fund share awards ​ ​ Stock options ​ ​ ​ ​ ​ ​ ​ ​ Total $ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Unrecognized INTECH interests included in restricted stock awards in the table above totaled $1.6 million and will be recognized over a weighted-average period of 3.0 years. JCG generally grants annual long-term incentive awards in January or February of each year. The 2016 annual grant, not included in the table above, totaled $66.2 million and will generally be recognized ratably over a four-year period. The 2016 annual grant is not subject to performance-based accelerated vesting. Stock Options Stock options were granted to employees in 2013. There were no stock options granted to employees in 2014 or 2015. The fair value of stock options granted to JCG employees in 2013 was estimated on the date of each grant using the Black-Scholes option pricing model with the following assumptions: 2013 Weighted-average fair value of options granted $ Assumptions: Dividend yield ​ % Expected volatility % Risk-free interest rate ​ % Expected life 5 years Expected volatility was determined using an average of JCG's historical volatility and industry and market averages, as appropriate. Expected life was determined using employee termination rates and vesting periods of each grant. The risk-free interest rate for periods within the contractual life of the options is based on the U.S. Treasury yield curve in effect at the time of each grant. Stock options granted prior to February 2006 have a maximum contractual term of 10 years, and options granted thereafter have a maximum contractual term of seven years. The table below summarizes JCG's outstanding options, exercisable options and options vested or expected to vest for the years ended December 31, 2015, 2014 and 2013: 2015 2014 2013 Shares Weighted- average exercise price Shares Weighted- average exercise price Shares Weighted- average exercise price Outstanding at January 1 ​ $ ​ $ ​ $ Granted — — — — Exercised ​ ) ​ ​ ) ​ ​ ) ​ Forfeited — — ) ) Expired ​ ) ​ ​ ) ​ ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at December 31 $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable (1) ​ $ ​ $ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested or expected to vest $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) The number of exercisable options represents instruments for which all vesting criteria have been satisfied and whose exercise price was below the closing price of the Company's common stock as of the end of the period. Options outstanding for which all vesting criteria have been satisified but whose exercise price was above the closing price of the Company's common stock were 1.2 million and 5.2 million as of December 31, 2014 and 2013, respectively. As of December 31, 2015, the exercise price of all outstanding options was below the closing price of the Company's stock. The following table summarizes the intrinsic value of exercised, outstanding and exercisable options at December 31, 2015, 2014 and 2013 (in millions): December 31, 2015 2014 2013 Exercised $ $ $ Outstanding $ $ $ Exercisable $ $ $ The following table summarizes the information about stock options that were outstanding at December 31, 2015: Options outstanding Options exercisable Range of exercise prices Number of options outstanding Weighted- average remaining contractual life (years) Weighted- average exercise price Number of options exercisable Weighted- average remaining contractual life (years) Weighted- average exercise price $5 to $10 ​ ​ $ ​ ​ $ $10 to $15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $5 to $15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted Stock Awards The table below summarizes unvested restricted stock awards for the years ended December 31, 2015, 2014 and 2013: 2015 2014 2013 Shares Weighted- average grant date fair value Shares Weighted- average grant date fair value Shares Weighted- average grant date fair value Unvested at January 1 ​ $ ​ $ ​ $ Granted Vested ​ ) ​ ​ ) ​ ​ ) ​ Forfeited ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unvested at December 31 ​ $ ​ $ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The total fair value of restricted stock that vested during the years ended December 31, 2015, 2014 and 2013, was $4 2.0 million, $21.6 million and $20.0 million, respectively. Price-Vesting Units JCG granted 249,100 price-vesting units to its Chief Executive Officer on December 30, 2011, valued at $1.2 million. These price-vesting units comprise two tranches of $0.6 million each. The first tranche is subject to a stock price hurdle representing a 27% premium over the $6.31 closing price of the Company's common stock on the date of grant, and the second tranche is subject to a stock price hurdle representing a 58% premium over the same closing price. Both tranches vest ratably over a four-year service period. To achieve each price hurdle, the Company's common stock must close at or above the prescribed price for 20 consecutive trading days at any time during the service period of the award. The units only vest if both the price hurdle and the service conditions are met. The stock price hurdle associated with the first tranche was achieved in 2012 and 29,400 units vested annually in 2012, 2013, 2014 and 2015. The stock price hurdle associated with the second tranche was achieved in December 2013; 65,750 units vested in 2013 and 32,875 units vested in both 2014 and 2015. As of December 31, 2015, the price-vesting units were fully vested. The price-vesting units award is required to be amortized using the graded-vesting method due to the underlying market conditions as represented by the stock price hurdles. In addition, the expense was recognized irrespective of achieving the price hurdles provided service conditions are satisfied. JCG granted 89,933 price-vesting units to its Chief Executive Officer on December 31, 2013, valued at $1.2 million. These price-vesting units may or may not vest, in whole or in part, three years after the date of grant, depending on JCG's three-year operating profit margin performance during the vesting period. If JCG's three-year operating margin performance is less than or equal to 27%, none of the shares will vest. Alternatively, if JCG's three-year operating margin performance equals 31%, 100% of the shares will vest. If JCG's three-year operating margin performance is greater than or equal to 35%, 200% of the shares will vest. All intermediate amounts between 27%, 31% and 35% will be interpolated on a straight-line basis. JCG granted 76,682 price-vesting units to its Chief Executive Officer on December 31, 2014, valued at $2.2 million. These price-vesting units may or may not vest, in whole or in part, three years after the date of grant, depending on JCG's three-year operating profit margin performance during the vesting period. If JCG's three-year operating margin performance is less than or equal to 24%, none of the shares will vest. Alternatively, if JCG's three-year operating margin performance equals 28%, 100% of the shares will vest. If JCG's three-year operating margin performance is greater than or equal to 32%, 200% of the shares will vest. All intermediate amounts between 24%, 28% and 32% will be interpolated on a straight-line basis. JCG granted 138,901 price-vesting units to its Chief Executive Officer on December 31, 2015, valued at $1.9 million. These price-vesting units may or may not vest in whole or in part, three years after the date of grant, depending on JCG's three-year Total Shareholder Return ("TSR") performance relative to a peer group during the vesting period. Mutual Fund Share Awards During 2015, 2014 and 2013, JCG granted employees $23.2 million, $22.7 million and $38.1 million, respectively, in awards that are indexed to certain mutual funds managed by the Company. The 2013 grant includes $16.0 million of performance-based mutual fund share awards. The performance-based mutual fund share awards vest five years after the grant date if certain performance criteria are achieved. Upon vesting, participants receive the value of the award adjusted for gains or losses attributable to the mutual funds to which the award was indexed, subject to tax withholding. At December 31, 2015, the cost basis of unvested awards totaled $58.9 million and the fair value totaled $63.6 million. Perkins Senior Profits Interests Awards On December 31, 2008, Perkins granted senior profits interests awards designed to retain and incentivize key employees to grow the business. These awards vested on the fifth anniversary of grant and were entitled to a total of 5% of Perkins' annual taxable income. These awards had a formula-driven terminal value based on revenue and relative investment performance of products managed by Perkins. Participants carried a put right that would require JCG to terminate the awards in exchange for the then-applicable formula price on December 31, 2014, the sixth anniversary of grant. The value of the put right at December 31, 2014, was $5.9 million. On January 27, 2015, participants exercised their right to put the senior profits interests awards to JCG. The Company settled the awards with a $5.9 million cash payment to participants on February 13, 2015. On November 18, 2013, Perkins granted additional senior profits interests awards, which fully vest on December 31, 2018, and are entitled to a total of 10% of Perkins' annual taxable income. The entitlement to a percentage of Perkins' annual taxable income over the vesting period is tiered and starts at 2% in 2015 and increases 2% each year thereafter until reaching 10% after fully vesting on December 31, 2018. In addition, these awards have a formula-driven terminal value based on Perkins' revenue. JCG can call and terminate any or all of the awards on December 31, 2018, and each year thereafter. Holders of such interests can require JCG to purchase the interests in exchange for the then-applicable formula price on December 31, 2018. The senior profits interests are also subject to termination at premiums or discounts to the formula at the option of JCG or certain employees, as applicable, upon certain corporate or employment-related events affecting Perkins or certain employees. As of December 31, 2015, the formula-driven value was zero and there was no liability on JCG's Consolidated Balance Sheets associated with the Perkins senior profits interests awards granted in 2013. INTECH Long-Term Incentive Awards In October 2014, INTECH granted long-term incentive awards to retain and incentivize employees. The awards consist of appreciation rights, profits interests and phantom interests and are designed to give recipients an equity-like stake in INTECH. The profits interests and phantom interests awards entitles recipients to 9.1% of INTECH's pre-incentive profits and replace a portion of the prior discretionary bonus pool. In July 2015 and October 2015, additional phantom interests were granted to certain employees. As of December 31, 2015, total profits interests and phantom interests awarded entitles recipients to 9.2% of INTECH's pre-incentive profits. The October 2014 appreciation rights have a grant date fair value of $23.2 million, which will be amortized on a straight-line basis over the 10-year vesting schedule, and are exercisable upon termination of employment from INTECH and to the extent vested. Upon exercise, the appreciation rights are settled in INTECH equity. The fair value of the appreciation rights was estimated using the Black-Scholes option pricing model with the following assumptions: Assumptions: Dividend yield ​ % Expected volatility % Risk-free interest rate ​ % Expected life 12 years The dividend yield and expected volatility were determined using historical data from publicly traded peers. The risk-free interest rate is based on the 10-year U.S. Treasury note at the time of the grant. The expected life of the appreciation rights was estimated based upon the assumption that recipients terminate upon vesting and exercise 20% of their rights each year over the following five years. In February 2015, INTECH granted appreciation rights as part of its annual grant. The appreciation rights have a grant date fair value of $2.0 million, which will be amortized on a straight-line basis over the four-year vesting schedule and are exercisable upon termination of employment from INTECH and to the extent vested. Upon exercise, the appreciation rights are settled in INTECH equity. The fair value of the appreciation rights was estimated using the Black-Scholes option pricing model with the following assumptions: Assumptions: Dividend yield ​ % Expected volatility % Risk-free interest rate ​ % Expected life 6 years The dividend yield and expected volatility were determined using historical data from publicly-traded peers. The risk-free interest rate is based on the average of the five-year and seven-year U.S. Treasury Note at the time of the grant. The expected life of the appreciation rights was estimated based upon the assumption that recipients terminate upon vesting and exercise 25% of their rights each year over the following four years. In July 2015 and October 2015, additional phantom interests were granted to certain employees. INTECH profits interests and phantom interests entitle holders to periodic distributions of a portion of INTECH operating income. Distributions are made during employment and, for profits interests, post-employment for up to 10 years. Phantom interests are entitled to a one-time distribution at termination of employment. Compensation expense for post-employment distributions is based upon the present value of expected future distributions and will be recognized pro rata over the 10-year vesting schedule for profits interests and five years for phantom interests. The present value of these payments was determined using a 2% discount rate, which represents the interest rate on a 20-year U.S. Treasury note. As of December 31, 2015, the total undiscounted estimated post-employment payments for profits interests and phantom interests is $54.1 million (the majority will not be paid until 10 to 20 years after the grant date). The estimated post-employment payments will be evaluated and adjusted quarterly, as necessary, with changes recorded in results of operations. Long-Term Incentive Stock Plans On May 10, 2005, JCG shareholders approved the 2005 Long-Term Incentive Stock Plan ("2005 Plan"), which allowed the Board of Directors to grant up to 15.0 million shares of equity-based awards, including stock options and restricted stock. Subsequent to the annual grant in January 2016, 3.3 million shares of stock options and less than 0.1 million shares of restricted stock are available to be granted under the 2005 Plan. On April 29, 2010, JCG shareholders approved the 2010 Long-Term Incentive Stock Plan ("2010 Plan"), which allows JCG to grant up to 4.4 million shares of equity-based awards, including stock options and restricted stock. On April 26, 2012, JCG shareholders approved an amendment to the 2010 Plan to increase the number of shares available to grant by 9.0 million shares. On April 24, 2015, JCG shareholders approved an amendment to the 2010 Plan to increase the number of shares available to grant by 11.0 million shares for a total of 24.4 million shares of equity-based awards available to grant under the 2010 Plan. Subsequent to the annual grant in January 2016, approximately 7.8 million shares of equity-based awards are available to be granted under the 2010 Plan. JCG also has a 2012 Employment Inducement Award Plan ("EIA Plan") with 0.8 million shares of equity-based awards available to be granted as of December 31, 2015. The EIA Plan is not a shareholder-approved plan.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2015
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	Note 13 — Employee Benefit Plans Substantially all full-time employees of JCG are eligible to participate in a company-sponsored 401(k), Employee Stock Ownership Plan ("ESOP") and profit-sharing plan (collectively, the "401(k) Plan"). During the years ended December 31, 2015 and 2014, JCG matched a maximum of 4% of employee eligible compensation in the 401(k) Plan. During the year ended December 31, 2013, JCG matched a maximum of 3% of employee-eligible compensation in the 401(k) Plan. Effective January 1, 2016, JCG increased its matching contribution to 4.5% of employee-eligible compensation in the 401(k) Plan. Eligible employees with Janus before January 1, 2014, vest immediately in company-matched 401(k) contributions while employees who started employment after January 1, 2014, vest ratably over five years. Contributions to the ESOP and the profit-sharing components of the 401(k) Plan are made at the discretion of the Board of Directors' Compensation Committee. There were no contributions made to the ESOP and profit-sharing plans for 2015, 2014 or 2013. Participants vest ratably in the ESOP and profit-sharing contributions over a five-year period. Expenses related to the 401(k) Plan and equivalent plans internationally were $6.8 million, $6.3 million and $4.7 million in 2015, 2014 and 2013, respectively. The Company also maintains deferred compensation plans for certain highly compensated employees and members of its Board of Directors. At December 31, 2015 and 2014, the fair value of investments related to deferred compensation plans totaled $16.3 million and $13.0 million, respectively. See Note 2 — Summary of Significant Accounting Policies for a further discussion of the Company's deferred compensation plans.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2015
ACCUMULATED OTHER COMPREHENSIVE LOSS.
ACCUMULATED OTHER COMPREHENSIVE LOSS	Note 14 — Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss, net of tax, for the years ended December 31, 2015 and 2014, are as follows (in millions): Year ended December 31, 2015 2014 Available-for-sale securities Foreign currency Total Available-for-sale securities Foreign currency Total Beginning balance $ $ ) $ ) $ $ ) $ ) Other comprehensive income (loss) before reclassifications ) ) ) — Amounts reclassified from accumulated other comprehensive loss to: ​ ​ ​ ​ ​ ​ Investment gains (losses), net ) — ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive loss, net of tax ​ ) ​ ) ​ ) ​ ) ​ — ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance $ ) $ ) $ ) $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The components of other comprehensive income (loss), net of tax for the years ended December 31, 2015, 2014 and 2013, are as follows (in millions): Year ended December 31, 2015 Pre-tax amount Tax (expense) benefit Net amount Net unrealized loss on available-for-sale securities $ ) $ $ ) Foreign currency translation adjustments ) — ) Reclassification for items included in net income ​ ) ​ ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive loss $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2014 Pre-tax amount Tax (expense) benefit Net amount Net unrealized gain on available-for-sale securities $ $ ) $ Reclassification for items included in net income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive loss $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2013 Pre-tax amount Tax (expense) benefit Net amount Net unrealized gain on available-for-sale securities $ $ ) $ Reclassification for items included in net income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive loss $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

EARNINGS AND DIVIDENDS PER SHAR

EARNINGS AND DIVIDENDS PER SHARE	12 Months Ended
	Dec. 31, 2015
EARNINGS AND DIVIDENDS PER SHARE
EARNINGS AND DIVIDENDS PER SHARE	Note 15 — Earnings and Dividends per Share Earnings per Share The following is a summary of the earnings per share calculation for the years ended December 31, 2015, 2014 and 2013 (in millions, except per share data): Year ended December 31, 2015 2014 2013 Net income attributable to JCG $ $ $ Less: Allocation of earnings to participating restricted stock awards — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to JCG common shareholders $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average common shares outstanding — basic Diluted effect of: ​ ​ ​ 2018 Convertible Notes — Stock warrants ​ ​ — ​ — Stock options, restricted stock and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average diluted common shares outstanding — diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share: Basic earnings per share $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following stock options, unvested nonparticipating restricted stock and price-vesting units are anti-dilutive and have not been included in the weighted-average diluted shares outstanding calculation (in millions): Year ended December 31, 2015 2014 2013 Employee stock options ​ — ​ ​ Unvested nonparticipating restricted stock and price-vesting units All shares held in the JCG ESOP are treated as outstanding for purposes of computing basic earnings per share. Dividends per Share The payment of cash dividends is within the discretion of JCG's Board of Directors and depends on many factors, including, but not limited to, JCG's results of operations, financial condition, capital requirements, restrictions imposed by financing arrangements, general business conditions and legal requirements. Dividends are subject to quarterly declaration by JCG's Board of Directors. The following is a summary of cash dividends declared and paid for the years ended December 31, 2015, 2014 and 2013: Year ended December 31, 2015 2014 2013 Dividends paid per share $ $ $ On January 19, 2016, JCG's Board of Directors declared a regular quarterly cash dividend of $0.09 per share. The quarterly dividend will be paid on February 25, 2016, to stockholders of record at the close of business on February 12, 2016.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	Note 16 — Commitments and Contingencies Operating and Capital Leases JCG rents office space and equipment under the terms of various operating lease agreements. As of December 31, 2015, future minimum rental commitments under non-cancelable operating and capital leases are as follows (in millions): Year ended December 31, Amount 2016 $ 2017 2018 ​ 2019 2020 ​ Thereafter ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rent expense was $17.9 million, $17.0 million and $16.5 million for the years ended December 31, 2015, 2014 and 2013, respectively. JCG's capital lease obligations represent leased computer equipment. The carrying value of the obligations at December 31, 2015 and 2014, totaled $5.6 million and $0.8 million, respectively, and is included in other accrued liabilities and other non-current liabilities on JCG's Consolidated Balance Sheets. The related lease terms extend through December 31, 2020. Litigation and Other Regulatory Matters JCG is periodically involved in various legal proceedings and other regulatory matters. Although there can be no assurances, based on information currently available, management believes that it is probable that the ultimate outcome of matters that are pending or threatened will not have a material effect on JCG's consolidated financial statements. Investment Management Agreements Most of JCG's revenues are derived pursuant to investment management agreements with its investment advisory clients. Investment management agreements with mutual funds may be terminated by either party with notice, or terminated in the event of an "assignment" (as defined in the Investment Company Act of 1940 as amended (the "1940 Act")), and must be approved and renewed annually by the disinterested members of each fund's trustees, or its shareowners, as required by law. Generally, any change in control of JCG would constitute an assignment under the 1940 Act. In addition, a mutual fund's trustees or directors may terminate these investment management agreements upon written notice for any reason.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	Note 17 — Related Party Transactions JCG earns fees from the various registered investment companies for which it acts as investment advisor. Accounts receivable include amounts due from these investment companies. The table below presents this related party activity for the years ended and as of December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Investment management, performance and shareowner servicing fees $ $ $ 12b-1 plan fees earned (1) $ $ $ As of December 31, 2015 2014 2013 Accounts receivable from registered investment companies $ $ $ (1) The annual marketing or distribution fees on a mutual fund. The Dai-ichi Life Insurance Company ("Dai-ichi Life") is a significant shareholder of the Company. Investment management fees earned from Dai-ichi Life and its affiliates (included in the table above) for the years ended December 31, 2015, 2014 and 2013, were $19.4 million, $14.7 million and $8.9 million, respectively.

SHAREHOLDER RIGHTS PLAN

SHAREHOLDER RIGHTS PLAN	12 Months Ended
	Dec. 31, 2015
SHAREHOLDER RIGHTS PLAN
SHAREHOLDER RIGHTS PLAN	Note 18 — Shareholder Rights Plan JCG does not currently have a Shareholder Rights Plan ("Rights Plan") in place as JCG's Board of Directors let the previous Rights Plan expire by its terms in June 2010. The Board of Directors reserves the right to implement a new Rights Plan at any time.

GEOGRAPHIC INFORMATION

GEOGRAPHIC INFORMATION	12 Months Ended
	Dec. 31, 2015
GEOGRAPHIC INFORMATION
GEOGRAPHIC INFORMATION	Note 19 — Geographic Information The following summary provides information concerning JCG's principal geographic areas for the years ended and as of December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, Revenues 2015 2014 2013 U.S. $ $ $ International ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, Long-lived assets 2015 2014 2013 U.S. $ $ $ International ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International revenues and assets are attributed to countries based on the location in which revenues are earned, primarily the United Kingdom and Australia.

SELECTED QUARTERLY FINANCIAL DA

SELECTED QUARTERLY FINANCIAL DATA	12 Months Ended
	Dec. 31, 2015
SELECTED QUARTERLY FINANCIAL DATA
SELECTED QUARTERLY FINANCIAL DATA	Note 20 — Selected Quarterly Financial Data (Unaudited) 2015 (in millions, except per share amounts) First quarter Second quarter Third quarter Fourth quarter Full year Total revenue $ $ $ $ $ Operating income Net income ​ ​ ​ ​ ​ Noncontrolling interests ) ) — ) ) Net income attributable to JCG ​ ​ ​ ​ ​ Basic earnings per share attributable to JCG common shareholders $ $ $ $ $ Diluted earnings per share attributable to JCG common shareholders $ $ $ $ $ 2014 (in millions, except per share amounts) First quarter Second quarter Third quarter Fourth quarter Full year Total revenue $ $ $ $ $ Operating income Net income ​ ​ ​ ​ ​ Noncontrolling interests ) ) ) ) Net income attributable to JCG ​ ​ ​ ​ ​ Basic earnings per share attributable to JCG common shareholders $ $ $ $ $ Diluted earnings per share attributable to JCG common shareholders $ $ $ $ $

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation The financial statements include all majority-owned subsidiaries and intercompany accounts and transactions have been eliminated in consolidation. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying financial statements through the issuance date. Certain prior period amounts have been revised to conform to current period presentation. Third-party sales and redemptions of consolidated seeded investment products securities were incorrectly netted against the associated purchases and sales of investment securities within investing activities on JCG's Consolidated Statements of Cash Flows. Sales and redemptions of consolidated seeded investment products should be presented as a financing activity and the offsetting purchase and sales of investment securities within the consolidated seeded investment products should be presented as an investing activity. Cash flows related to consolidated seeded investment products are now presented on a gross basis, within the "Purchases of securities by consolidated seeded investment products, net of sales" and "Third-party investments in consolidated seeded investment products, net of redemptions" captions on JCG's Consolidated Statements of Cash Flows. Net investing activities were previously reported as $128.4 million and ($141.7) million for the years ended December 31, 2014 and 2013, respectively, and were adjusted by ($60.9) million and ($93.6) million for the respective years. Net financing activities were previously reported as ($238.3) million and ($123.3) million for the years ended December 31, 2014 and 2013, respectively, and were adjusted by $60.9 million and $93.6 million for the respective years. The corrections had no impact on the net change in cash and cash equivalents for the years ended December 31, 2014 or 2013.
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and the differences could be material. JCG's significant estimates relate to investment securities, goodwill and intangible assets, post-employment benefits, equity compensation and income taxes.
Segment Information	Segment Information The Company's management directs JCG's operations as one business, the investment management business, and thus operates in one business segment. JCG's Chief Executive Officer reviews the Company's financial performance at an aggregate level. All of the products and services provided by the Company relate to investment management and are subject to similar regulatory frameworks. Further, JCG's investment management, sales, distribution and administrative teams are generally not aligned with specific product lines or distribution channels.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash held at banks in the U.S. and outside the U.S., and short-term investments with an initial maturity of three months or less when purchased. JCG's cash equivalents consist primarily of debt securities and totaled $246.9 million and $300.2 million at December 31, 2015 and 2014, respectively. At December 31, 2015 and 2014, approximately $28 million and $24 million, respectively, of cash held outside the U.S. was not available for general corporate purposes due to capital requirements associated with foreign subsidiaries of JCG. In addition, $1.2 million and nil of cash associated with consolidated seeded investment products at December 31, 2015 and 2014, respectively, was not available for general corporate purposes.
Property and Equipment	Property and Equipment Property and equipment is recorded at cost. Depreciation is recorded using the straight-line method over the estimated useful life of the related assets (or the lease term, if shorter). Depreciation expense totaled $11.5 million, $10.4 million and $11.2 million for the years ended December 31, 2015, 2014 and 2013, respectively. Property and equipment is summarized as follows (in millions): December 31, Depreciation period 2015 2014 Furniture, fixtures, computer equipment and software 3-7 years $ $ Leasehold improvements 3-24 years ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, gross ​ ​ ​ Accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, net ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Computer equipment includes certain leased items that have been designated as capital leases and represented $12.0 million and $6.8 million of the gross property and equipment balance on the Consolidated Balance Sheets at December 31, 2015 and 2014, respectively. Purchased software is recorded at cost and depreciated over its estimated useful life. Internal and external costs incurred in connection with developing or obtaining software for internal use are expensed as incurred during the preliminary project stage, as are training and maintenance costs. Internal and external costs incurred for internal use software during the application development stage are capitalized until such time that the software is substantially complete and ready for its intended use. Application development stage costs are depreciated on a straight-line basis over the estimated useful life of the software. Capitalized software costs totaled $13.0 million and $10.4 million at December 31, 2015 and 2014, respectively, and are presented within property and equipment, net on the Consolidated Balance Sheets. JCG evaluates its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The evaluation is based on an estimate of the future cash flows expected to result from the use of the asset and its eventual disposition. If expected future undiscounted cash flows are less than the carrying amount of the asset, an impairment loss is recognized in an amount equal to the excess of the carrying amount of the asset over the fair value of the asset. There were no impairments of long-lived assets for the years ended December 31, 2015, 2014 and 2013.
Deferred Commissions	Deferred Commissions Sales commissions paid to financial intermediaries on sales of certain mutual fund shares are deferred and amortized over various periods, not exceeding four years, based on the estimated recoverability of the asset through distribution fee payments and contingent deferred sales charges. Contingent deferred sales charges received from early redemptions reduce the unamortized deferred commissions balance. Amortization expense for the years ended December 31, 2015, 2014 and 2013, totaled $10.2 million, $5.6 million and $5.3 million, respectively. Deferred commissions, which are recorded as components of other current assets and other non-current assets on the Consolidated Balance Sheets, are summarized as follows as of December 31, 2015 and 2014 (in millions): December 31, 2015 2014 Deferred commissions — current $ $ Deferred commissions — non-current ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Investment Securities	Investment Securities JCG classifies investment securities as trading, available-for-sale or held-to-maturity at the time of purchase and periodically re-evaluates such classifications. Trading securities are carried on JCG's Consolidated Balance Sheets at fair value and consist primarily of investments related to seeded investment products, investments in advised mutual funds and investments related to the economic hedging of deferred compensation. Seeded Investment Products JCG periodically adds new investment strategies to its investment product offerings by providing the initial cash investment or "seeding". The primary purpose of seeded investment products is to generate an investment performance track record in a product to attract third-party investors. JCG's initial investment in a new product represents 100% ownership in that product. Seeded investment products are initially consolidated and the individual securities within the portfolio are accounted for as trading securities. JCG consolidates such investment products as long as it holds a controlling interest in the investment product, defined as greater than 50% ownership. Noncontrolling interests in seeded investment products represent third-party ownership interests and are part of investment securities on JCG's Consolidated Balance Sheets. These assets are not available for general corporate purposes and may be redeemed by the third parties at any time. JCG's unconsolidated seeded investments products that fall within the 20% to 50% ownership range are classified as equity method and are carried on JCG's Consolidated Balance Sheets at fair value due to the nature of the underlying investments. The change in fair value of the unconsolidated seeded investment products is recorded in investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income. JCG may redeem invested seed capital for a variety of reasons, including when third-party investments in the relevant product are sufficient to sustain the given investment strategy. The length of time JCG holds a majority interest in a product varies based on a number of factors, including, but not limited to, market demand, market conditions and investment performance. The Company has determined that its seeded investment products do not represent variable interest entities. Seed investments are made largely in mutual funds, but may also be made in commingled pools and separate accounts. JCG has determined mutual funds to be voting interest entities rather than variable interest entities. Commingled pools are established as limited liability companies or partnerships, and as such, the Company applies partnership accounting rules. These rules dictate that a managing member or general partner would not consolidate an entity if the members or limited partners carry substantive kick-out rights. All of the Company's commingled pools carry substantive kick-out rights. Seed investments in separate accounts strategies are generally 100% owned by JCG and are accounted for as trading securities. Available-for-Sale Securities Investment securities classified as available-for-sale consist of unconsolidated seeded investment products in which JCG holds a less than 20% interest and are carried on JCG's Consolidated Balance Sheets at fair value. Changes in fair value are reflected as a component of other comprehensive loss, net of tax on JCG's Consolidated Statements of Comprehensive Income until realized. Accumulated gains and losses are reclassified to earnings when the securities are sold on a first-in, first-out cost basis. Investments in Advised Mutual Funds and Investments Related to the Economic Hedging of Deferred Compensation JCG grants mutual fund share awards to employees that are indexed to certain funds managed by JCG. Upon vesting, participants receive the value of the mutual fund share awards adjusted for gains or losses attributable to the mutual funds to which the award was indexed, subject to tax withholding. The Company maintains deferred compensation plans for certain highly compensated employees and members of its Board of Directors. Eligible participants may defer a portion of their compensation and have the ability to earn a return by indexing their deferrals to mutual funds managed by the Company and its subsidiaries. The Company makes no contributions to the plan. To protect against market variability of the liability, the Company creates an economic hedge by investing in mutual funds that are consistent with the deferred amounts and mutual fund elections of the participants. Such investments remain assets of JCG. Changes in market value of the liability to participants are recognized as long-term incentive compensation in JCG's Consolidated Statements of Comprehensive Income and changes in the market value of the mutual fund securities are recognized in investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income. Impairment Evaluation JCG periodically evaluates the carrying value of investment securities classified as available-for-sale or held-to-maturity for potential impairment. In determining if an impairment exists, JCG considers the duration, extent and circumstances of any decline in fair value. For equity securities, JCG evaluates the securities in an unrealized loss position in the available-for-sale portfolio for other-than-temporary impairment ("OTTI") on the basis of the duration of the decline in value of the security and severity of that decline as well as JCG's intent and ability to hold these securities for a period of time sufficient to allow for any anticipated recovery in the market value. If it is determined that the impairment on an equity security is other-than-temporary, an impairment loss equal to the difference between the carrying value of the security and its fair value is recognized within investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income. There were no OTTI of investment securities for the years ended December 31, 2015, 2014 and 2013.
Derivative Instruments	Derivative Instruments The Company maintains an economic hedge program that uses derivative instruments to hedge against market volatility of certain of its seed investments. Fluctuations in equity markets, debt markets and commodity markets are hedged by using index swaps, index and commodity futures ("futures"), and credit default swaps. These derivative instruments are not classified as hedges for accounting purposes. The Company records all derivatives as either assets or liabilities on JCG's Consolidated Balance Sheets and measures those investments at fair value. Changes in the value of the index swaps, futures and credit default swaps are recognized as a component of investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income. The Company's consolidated seeded investment products may also be party to derivative instruments from time to time. These derivative instruments are disclosed separately from the Company's derivative instruments related to its economic hedge program. Refer to Note 5 — Investment Securities.
Fair Value Measurements	Fair Value Measurements Fair value of assets and liabilities is determined using observable market data based on recent trading activity. Where observable market data is unavailable due to a lack of trading activity, JCG utilizes internally developed models to estimate fair value and independent third parties to validate assumptions, when appropriate. Estimating fair value requires significant management judgment, including benchmarking to similar instruments with observable market data and applying appropriate discounts that reflect differences between the securities that JCG is valuing and the selected benchmark. Depending on the type of securities owned by JCG, other valuation methodologies may be required. Measurements of fair value are classified within a hierarchy based upon the transparency of inputs used in the valuation of an asset or liability. Classification within the hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The valuation hierarchy contains three levels: • Level 1 — Valuation inputs are unadjusted quoted market prices for identical assets or liabilities in active markets. • Level 2 — Valuation inputs are quoted market prices for identical assets or liabilities in markets that are not active, quoted market prices for similar assets and liabilities in active markets, and other observable inputs directly or indirectly related to the asset or liability being measured. • Level 3 — Valuation inputs are unobservable and significant to the fair value measurement. Level 1 Fair Value Measurements JCG's Level 1 fair value measurements consist primarily of seeded investment products, investments in advised mutual funds, cash equivalents and investments related to deferred compensation plans with quoted market prices in active markets. The fair value level of consolidated seeded investment products is determined by the underlying securities of the product. The fair value level of unconsolidated seeded investment products and available-for-sale seeded investment products are valued using the respective net asset value ("NAV") of each product. All seeded investment products that use the NAV to determine their fair value are classified as Level 1 and primarily represent seeded mutual funds where JCG's ownership level is under 50%. Level 2 Fair Value Measurements JCG's Level 2 fair value measurements consist mostly of cash equivalents, consolidated seeded investment products and JCG's long-term debt. Cash equivalents are short-term, highly liquid investments with an initial maturity of three months or less when purchased and consist primarily of commercial paper, certificates of deposits and other debt investments. The fair value of consolidated seeded investment products where JCG's ownership level is above 50% is determined by the underlying securities of the product. The fair value of JCG's long-term debt is determined using broker quotes and recent trading activity, which are considered Level 2 inputs. Level 3 Fair Value Measurements JCG's Level 3 recurring fair value measurements largely represent redeemable noncontrolling interests in INTECH and contingent cash consideration related to the acquisitions of VelocityShares and Kapstream. Redeemable noncontrolling interests in INTECH are measured at fair value on a quarterly basis or more frequently if events or circumstances indicate that a material change in the fair value of INTECH has occurred. The fair value of INTECH is determined using a market approach valuation methodology that incorporates observable metrics from publicly traded peer companies as valuation comparables, and adjustments related to investment performance and changes in assets under management. Refer to Note 4 — Acquisitions for a detailed discussion of VelocityShares and Kapstream contingent consideration. Nonrecurring Fair Value Measurements Nonrecurring Level 3 fair value measurements include goodwill and intangible assets. JCG measures the fair value of the reporting unit and intangible assets using a discounted cash flow analysis that requires assumptions regarding projected future earnings and discount rates. Because of the significance of the unobservable inputs in the fair value measurements of these assets and liabilities, such measurements have been classified as Level 3.
Income Taxes	Income Taxes Deferred income tax assets and liabilities are recorded for the temporary differences between the financial statement and income tax bases of assets and liabilities as measured by the enacted income tax rates that may be in effect when these differences reverse. The effect of changes in tax rates on deferred tax assets and liabilities is recognized in the period that includes the enactment date. Significant management judgment is required in developing JCG's provision for income taxes, including the valuation allowances that might be required against deferred tax assets and the evaluation of various income tax contingencies. The accounting guidance for uncertainty in income taxes sets forth a specific method for the financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return. The tax contingencies liability relates primarily to general state tax items and has been recorded in other accrued liabilities and other non-current liabilities on JCG's Consolidated Balance Sheets, as appropriate. Taxing authorities generally charge interest and may assess penalties in the event that a tax position taken is subsequently reversed upon examination. JCG has accrued interest on its uncertain tax provisions based on the rates specified by the applicable taxing authorities and has recorded the interest as a component of the tax provision. Accrued interest of $0.8 million, $0.8 million and $1.3 million was included in the liability for tax contingencies at December 31, 2015, 2014 and 2013, respectively. Any potential penalties associated with a tax contingency will also be included as a component of the tax provision in the period in which the assessment of a penalty becomes likely. JCG does not believe that it is subject to any penalties related to its tax contingencies and, therefore, has not accrued a liability for tax penalties. In the event of an overpayment of income taxes, taxing authorities generally pay interest from the date of the overpayment. JCG records interest income from taxing authorities as a component of the income tax provision.
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Goodwill represents the excess of cost over the fair value of the identifiable net assets of acquired companies. Identifiable intangible assets generally represent the cost of client relationships and investment management agreements acquired as well as brand name and trademark. Goodwill and indefinite-lived intangible assets are tested for impairment annually as of October 1 or more frequently if events or circumstances indicate that the carrying value may not be recoverable. Intangible assets subject to amortization are tested for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. Goodwill and intangible assets require significant management estimates and judgment, including the valuation and expected life determination in connection with the initial purchase price allocation and the ongoing evaluation for impairment.
Noncontrolling Interests and Redeemable Noncontrolling Interests	Noncontrolling Interests and Redeemable Noncontrolling Interests Noncontrolling interests that are not subject to redemption rights are classified in permanent equity. Redeemable noncontrolling interests are classified outside of permanent equity on the Consolidated Balance Sheets and are measured at estimated fair value as of the balance sheet dates. Changes in fair value of redeemable noncontrolling interests are recognized as increases or decreases to redeemable noncontrolling interests with an offsetting charge to retained earnings. Certain of the INTECH ownership interests granted to employees become subject to redemption rights upon vesting at which time such interests are reclassified to redeemable noncontrolling interests. Earnings attributable to noncontrolling interests that are and are not subject to redemption rights are combined in JCG's Consolidated Statements of Comprehensive Income. Acquisitions of entities in which JCG holds an existing controlling interest are treated as a reduction of noncontrolling interests or redeemable noncontrolling interests in an amount equal to the purchase price. See Note 11 — Noncontrolling Interests for further discussion of noncontrolling interests.
Revenue Recognition	Revenue Recognition Investment management and shareowner servicing fees are recognized as services are provided. These revenues are generally determined in accordance with contracts based upon a percentage of average assets under management. Performance fee revenue is derived from certain mutual funds and separate accounts. Mutual fund performance fees represent an adjustment to the investment management fee of certain mutual funds and are based on the relative investment performance of each fund compared to a specific benchmark index. The adjustment is up to a positive or negative 15 basis points and is calculated using each fund's daily net average assets based on a trailing 36-month measurement period. Separate account performance fees are specified in client contracts and are based on investment performance as compared to an established benchmark index over a specified period of time. Separate account performance fees are recognized at the end of the contractual period if the stated performance criteria are achieved.
Marketing	Marketing Marketing and promotional costs are generally expensed as incurred.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation cost is based on the grant date fair value of awards expected to vest at the end of the stated service period and consists of the total value of the awards less an estimate for forfeitures. The grant date fair value for stock options is determined using the Black-Scholes option pricing model, and the grant date fair value of restricted stock is determined from the market price on the date of grant. The Black-Scholes model requires management to estimate certain variables, including the lives of options from grant date to exercise date, the volatility of the underlying shares and future dividend rates. JCG estimates, at the time of grant, the amount of awards that are not expected to vest based on historical forfeiture rates and subsequently records adjustments, as appropriate.
Earnings Per Share	Earnings Per Share JCG calculates basic and diluted earnings per share using the two-class method, as common shares and participating restricted stock awards are paid nonforfeitable dividends. Under the two-class method, net income attributable to JCG is adjusted for the allocation of earnings to participating restricted stock awards. In addition, the weighted-average diluted common shares outstanding are calculated using the two-class method.
Contingent Consideration	Contingent Consideration The transaction to acquire a controlling 51% voting interest in Kapstream included contingent cash consideration. The contingent cash consideration is payable at 18 and 36 months after acquisition if certain Kapstream assets under management reach defined targets. The total maximum payment over the entire contingent consideration period is $9.1 million as of December 31, 2015. The fair value of the contingent consideration is calculated on a quarterly basis by forecasting certain Kapstream assets under management over the contingency period and determining whether the forecasted amounts meet the defined targets. Significant unobservable inputs used in the valuation are limited to forecasted Kapstream assets under management. The acquisition of VelocityShares in 2014 included contingent cash consideration. The payments are contingent on certain VelocityShares' ETPs reaching defined net revenue targets on the first, second, third and fourth anniversaries of the acquisition, in amounts up to $10.0 million each for the first and second anniversaries, and $8.0 million each for the third and fourth anniversaries. The fair value of the contingent consideration is calculated on a quarterly basis by forecasting net ETP revenue, as defined by the purchase agreement, over the contingency period, and determining whether targets are met given forecasted VelocityShares operating results. Forecasted contingent payments are then discounted back to the valuation date. Significant unobservable inputs used in the valuation are limited to forecasted gross revenues and certain expense items, which are deducted from these revenues. Increases in forecasted net revenue increase the fair value of the consideration, subject to payment limitations, while decreases in net revenues would decrease the fair value. The total maximum payment over the entire contingent consideration period is $36.0 million. In November 2015, VelocityShares reached the defined net revenue target and the Company paid the first contingent consideration amount of $10.0 million, which represents the maximum amount for the first anniversary.

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of property and equipment	Property and equipment is summarized as follows (in millions): December 31, Depreciation period 2015 2014 Furniture, fixtures, computer equipment and software 3-7 years $ $ Leasehold improvements 3-24 years ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, gross ​ ​ ​ Accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, net ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Components of deferred commissions	Deferred commissions, which are recorded as components of other current assets and other non-current assets on the Consolidated Balance Sheets, are summarized as follows as of December 31, 2015 and 2014 (in millions): December 31, 2015 2014 Deferred commissions — current $ $ Deferred commissions — non-current ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Kapstream
Schedule of purchase price to the acquired assets	The total purchase price was allocated as follows (in millions): Preliminary purchase price allocation Adjustments Final purchase price allocation Assets: ​ ​ ​ Cash and cash equivalents $ $ — $ Investment securities ​ ​ — ​ Accounts receivable — Intangible assets ​ ​ ) ​ Goodwill Other current assets ​ ​ — ​ Other non-current assets, net — Liabilities: ​ ​ ​ Contingent consideration ) — ) Deferred income taxes ​ ) ​ ​ ) Other accrued liabilities ) — ) Noncontrolling interests ​ ) ​ — ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net assets acquired $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
VelocityShares
Schedule of purchase price to the acquired assets	Assets: ​ Intangible assets $ Goodwill ​ Cash acquired Liabilities: ​ Deferred tax liability ) Other liabilities, net ​ ) ​ ​ ​ ​ ​ Net assets acquired $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of investment securities	JCG's investment securities as of December 31, 2015 and 2014, are summarized as follows (in millions): December 31, 2015 2014 Trading securities: ​ ​ Consolidated seeded investment products $ $ Unconsolidated seeded investment products (1) ​ ​ Investments in advised mutual funds Investments related to deferred compensation plans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total trading securities Available-for-sale securities: ​ ​ Unconsolidated seeded investment products ​ ​ ​ ​ ​ ​ ​ ​ Total investment securities $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Represents unconsolidated seeded investment products where JCG's ownership percentage is between 20% and 50%. The investments are classified as equity method and are carried at fair value due to the nature of the underlying investments.
Seeded investment products classified as trading securities	December 31, 2015 December 31, 2014 Fair value (in millions) Number of products Fair value (in millions) Number of products Mutual funds advised by the Company: ​ ​ ​ ​ Consolidated $ $ Unconsolidated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total mutual funds advised by the Company $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Separate accounts: ​ ​ ​ ​ Consolidated $ $ Unconsolidated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total separate accounts $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of gains and (losses) on trading securities	Gains and (losses) recognized on trading securities still held as of December 31, 2015, 2014 and 2013, are summarized as follows (in millions): Year ended December 31, 2015 2014 2013 Trading securities still held at period end $ ) $ $
Seeded investment products classified as available-for-sale securities	December 31, 2015 December 31, 2014 Fair value (in millions) Number of products Fair value (in millions) Number of products Mutual funds advised by the Company $ ​ $ ​
Summary of available-for-sale securities	The following is a summary of available-for-sale securities at December 31, 2015 and 2014 (in millions): December 31, 2015 Gross unrealized investment Foreign currency translation Estimated fair value Carrying value Cost Gains Losses Available-for-sale securities: ​ ​ ​ ​ ​ ​ Unconsolidated seeded investment products $ $ $ ) $ ) $ $ December 31, 2014 Gross unrealized investment Foreign currency translation Estimated fair value Carrying value Cost Gains Losses Available-for-sale securities: ​ ​ ​ ​ ​ ​ Unconsolidated seeded investment products $ $ $ ) $ ) $ $
Summary of realized gains and losses upon disposition of investment products classified as available-for-sale securities	The following is a summary of realized gains (losses) upon disposition of seeded investment products classified as available-for-sale securities for the years ended December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Realized gains $ — $ $ Realized losses — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net realized gains (losses) $ — $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of gross and offsetting amounts for derivative instruments	The following tables illustrate the effect of offsetting derivative instruments on JCG's Consolidated Balance Sheets as of December 31, 2015 and 2014 (in millions): December 31, 2015 Gross amounts Gross amounts offset by derivative instruments Gross amounts offset by cash collateral Net amounts Assets: ​ ​ ​ ​ Futures $ $ ) $ — $ Liabilities: ​ ​ ​ ​ Index swaps $ $ — $ — $ Futures ​ ​ ) ​ — ​ — Credit default swaps — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2014 Gross amounts Gross amounts offset by derivative instruments Gross amounts offset by cash collateral Net amounts Assets: ​ ​ ​ ​ Index swaps $ $ — $ — $ Liabilities: ​ ​ ​ ​ Futures $ $ — $ ) $ —
Schedule of net gains (losses) in earnings on hedged seed investments on associated futures, credit default swaps and index swaps	JCG recognized the following net gains (losses) on hedged seed investments and net gains (losses) on associated futures, credit default swaps and index swaps for the years ended December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Hedged seeded investments classified as trading securities (1) $ ) $ $ Hedged seeded investments classified as available-for-sale securities (1) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total hedged seeded investments ​ ) ​ ​ Futures ) ) ) Credit default swaps ​ ) ​ — ​ — Index swaps ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Includes net gains (losses) associated with hedged equity and fixed income seeded investment products. Hedging activity is limited to the systematic market risk associated with equity products and the interest rate risk associated with fixed income products. In September 2015, JCG started hedging credit risk associated with fixed income seeded investment products.
Schedule of net gains (losses) on hedged seed investments denominated in a foreign currency and associated foreign currency forward contracts	JCG recognized the following net gains (losses) on hedged seed investments denominated in a foreign currency and net gains (losses) on associated foreign currency forward contracts for the years ended December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Foreign currency translation $ ) $ ) $ Foreign currency forward contracts ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ ) $ ) $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of investment gains (losses), net on the Consolidated Statements of Comprehensive Income	Investment gains (losses), net on JCG's Consolidated Statements of Comprehensive Income included the following for the years ended December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Seeded investment products $ ) $ $ Noncontrolling interests in seeded investment products ) Investments in advised mutual funds ​ ) ​ ) ​ Index swaps, credit default swaps and futures ) ) Economic hedge for deferred compensation plans ​ ​ ​ Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment gains (losses), net $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Cash flows related to investment securities	Cash flows related to investment securities for the years ended December 31, 2015, 2014 and 2013, are summarized as follows (in millions): Year ended December 31, 2015 2014 2013 Purchases and settlements Sales, settlements and maturities Purchases and settlements Sales, settlements and maturities Purchases and settlements Sales, settlements and maturities Trading securities $ ) $ $ ) $ $ ) $ Available-for-sale securities ) ) ) Derivative instruments: ​ ​ ​ ​ ​ ​ Seed capital economic hedge ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total cash flows $ ) $ $ ) $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Not Designated as Hedging Instrument
Schedule of derivative instruments	December 31, 2015 December 31, 2014 Number of contracts Notional value (in millions) Number of contracts Notional value (in millions) Index swaps ​ $ ​ $ Futures $ $ Credit default swaps ​ $ ​ — $ — Foreign currency forward contracts — $ — $
Seeded Investment Products
Schedule of derivative instruments	December 31, 2015 December 31, 2014 Number of contracts Notional value (in millions) Number of contracts Notional value (in millions) Swaps ​ $ ​ $ Futures $ $ Foreign currency forward contracts ​ $ ​ $ Options $ $
Schedule of offsetting derivative instruments within consolidated seeded investment products	The following tables illustrate the effect of offsetting derivative instruments within consolidated seeded investment products on JCG's Consolidated Balance Sheets as of December 31, 2015 and 2014 (in millions): December 31, 2015 Gross amounts Gross amounts offset by derivative instruments Gross amounts offset by cash collateral Net amounts Assets: ​ ​ ​ ​ Swaps $ $ ) $ — $ Futures ​ ​ ) ​ — ​ — Foreign currency forward contracts ) — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Swaps $ $ ) $ — $ — Futures ) ) — Foreign currency forward contracts ​ ​ ) ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ ) $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2014 Gross amounts Gross amounts offset by derivative instruments Gross amounts offset by cash collateral Net amounts Assets: ​ ​ ​ ​ Swaps $ $ ) $ — $ Futures ​ ​ ) ​ — ​ Options — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: Swaps $ $ ) $ — $ — Futures ) — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
GOODWILL AND INTANGIBLE ASSETS
Summary of goodwill and intangible assets	JCG's goodwill and intangible assets are summarized below (in millions): December 31, 2014 Acquisition Amortization Foreign currency translation December 31, 2015 Indefinite-lived intangible assets: ​ ​ ​ ​ ​ Investment management agreements $ $ $ — $ ) $ Brand name and trademark ​ ​ ​ — ​ ) ​ Definite-lived intangible assets: Client relationships ​ ​ ​ — ​ ) ​ Accumulated amortization ) — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net intangible assets $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill $ $ $ — $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Expected future amortization	Amortization expense was $11.3 million, $9.6 million and $12.2 million for the years ended December 31, 2015, 2014 and 2013, respectively. Expected future amortization expense is summarized below (in millions): Year ended December 31, Amount 2016 $ 2017 2018 ​ 2019 2020 ​ Thereafter ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
FAIR VALUE MEASUREMENTS
Schedule of assets, liabilities and redeemable noncontrolling interests presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis	The following table presents assets, liabilities and redeemable noncontrolling interests presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of December 31, 2015 (in millions): Fair value measurements using: Quoted prices in active markets for identical assets and liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total Assets: ​ ​ ​ ​ Cash equivalents $ $ $ — $ Futures ​ ​ — ​ — ​ Trading securities: Consolidated seeded investment products ​ ​ ​ — ​ Unconsolidated seeded investment products (1) — — Investments in advised mutual funds ​ ​ — ​ — ​ Investments related to deferred compensation plans — — Available-for-sale securities: ​ ​ ​ ​ Unconsolidated seeded investment products — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total investment securities ​ ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ Index swaps $ — $ $ — $ Futures ​ ​ — ​ — ​ Credit default swaps — — Current portion of long-term debt (2) ​ — ​ ​ — ​ Long-term debt (1) — — Kapstream contingent consideration ​ — ​ — ​ ​ VelocityShares contingent consideration — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Redeemable noncontrolling interests: Consolidated seeded investment products $ $ $ — $ INTECH — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total redeemable noncontrolling interests $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Represents unconsolidated seeded investment products where JCG's ownership percentage is between 20% and 50%. The investments are classified as equity method and are carried at fair value due to the nature of the underlying investments. (2) Carried at amortized cost and disclosed at fair value. The following table presents assets, liabilities and redeemable noncontrolling interests presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of December 31, 2014 (in millions): Fair value measurements using: Quoted prices in active markets for identical assets and liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total Assets: ​ ​ ​ ​ Cash equivalents $ $ $ — $ Index swaps ​ — ​ ​ — ​ Trading securities: Consolidated seeded investment products ​ ​ ​ — ​ Unconsolidated seeded investment products (1) — — Investments in advised mutual funds ​ ​ — ​ — ​ Investments related to deferred compensation plans — — Available-for-sale securities: ​ ​ ​ ​ Unconsolidated seeded investment products — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total investment securities ​ ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ Long-term debt (2) $ — $ $ — $ VelocityShares contingent consideration ​ — ​ — ​ ​ Futures — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Redeemable noncontrolling interests in INTECH $ — $ — $ $ (1) Represents unconsolidated seeded investment products where JCG's ownership percentage is between 20% and 50%. The investments are classified as equity method and are carried at fair value due to the nature of the underlying investments. (2) Carried at amortized cost and disclosed at fair value.
Schedule of changes in fair value of the recurring Level 3 fair value measurement	JCG's Level 3 recurring fair value measurements as of December 31, 2015 and 2014, are as follows (in millions): Year ended December 31, 2015 2014 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Kapstream contingent consideration Redeemable noncontrolling interests VelocityShares contingent consideration Beginning of year fair value $ $ $ — $ $ — Distributions ) ) — ) — Current earnings ​ ​ — ​ — ​ ​ — Purchase of redeemable noncontrolling interests — — — ) — Amortization of INTECH appreciation rights ​ ​ — ​ — ​ — ​ — Issuance — — — Foreign currency translation ​ — ​ — ​ ) ​ — ​ — Change in fair value ) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year fair value $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of transfers from Level 1 and Level 2 classifications	Transfers are recognized at the end of each reporting period. Transfers from Level 1 and Level 2 classifications for the years ended December 31, 2015 and 2014, are summarized as follows (in millions): Year ended December 31, 2015 2014 Transfers from Level 1 to Level 2 $ — $ Transfers from Level 2 to Level 1 $ $

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2015
DEBT
Components of debt	Debt at December 31, 2015 and 2014, consisted of the following (in millions): December 31, 2015 December 31, 2014 Carrying value Fair value Carrying value Fair value 4.875% Senior Notes due 2025 $ $ $ — $ — 0.750% Convertible Senior Notes due 2018 6.700% Senior Notes due 2017 ​ — ​ — ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Total debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less: Current maturities ​ ​ ​ — ​ — ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Total long-term debt $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of aggregate maturities of indebtedness	The aggregate amounts of debt maturing or callable in the next five years are as follows (in millions): Year ended December 31, Amount 2016 $ — 2017 — 2018 (1) ​ 2019 — 2020 ​ — Thereafter ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Represents the fair value of the 2018 Convertible Notes as of December 31, 2015.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
INCOME TAXES
Schedule of components of income before taxes and equity earnings	JCG's components of income before taxes for the years ended December 31, 2015, 2014 and 2013, are as follows (in millions): Year ended December 31, 2015 2014 2013 Domestic $ $ $ International ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of provision for income taxes	JCG's provision for income taxes for the years ended December 31, 2015, 2014 and 2013, is summarized as follows (in millions): Year ended December 31, 2015 2014 2013 Current: ​ ​ ​ Federal $ $ $ State and local ​ ​ ​ International ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred: Federal ​ ​ ​ State and local — International ​ ​ ) ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total deferred ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total income tax provision $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of deferred tax assets (liabilities)	JCG's deferred income tax assets (liabilities) as of December 31, 2015 and 2014, are summarized as follows (in millions): December 31, 2015 2014 Deferred income tax assets: ​ ​ Compensation and benefits $ $ Accrued liabilities ​ ​ Investments Tax attributes ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Total deferred income tax assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income tax liabilities: Intangible assets ​ ) ​ ) Prepaid expenses ) ) Other ​ ) ​ ) ​ ​ ​ ​ ​ ​ ​ ​ Total deferred income tax liabilities ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred income tax liabilities $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of balance sheet classification of deferred income tax assets and liabilities	Deferred tax assets and liabilities are reflected on JCG's Consolidated Balance Sheets as follows (in millions): December 31, 2015 2014 Current deferred income tax asset $ — $ Non-current deferred income tax liability ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred income tax liabilities $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of differences between effective income tax rate and statutory federal income tax rate	JCG's effective income tax rate differs from the statutory federal income tax rate for the years ended December 31, 2015, 2014 and 2013, as follows: Year ended December 31, 2015 2014 2013 Federal statutory rate ​ % ​ % ​ % State and local tax rate, net of federal benefit Noncontrolling interests ​ ) ​ ) ​ ) Tax adjustments ) ) ) Equity-based compensation ​ — ​ ​ Other — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total effective income tax rate ​ % ​ % ​ % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Reconciliation of beginning and ending tax contingencies liability	A reconciliation of the beginning and ending liability for the years ended December 31, 2015, 2014 and 2013, is as follows (in millions): Year ended December 31, 2015 2014 2013 Beginning of year $ $ $ Additions for tax positions of current year Additions for tax positions of prior years ​ ​ — ​ — Reduction due to statute expirations ) ) ) Reduction due to settlement of audits ​ ) ​ — ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of year $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

OTHER FINANCIAL STATEMENT CAP36

OTHER FINANCIAL STATEMENT CAPTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
OTHER FINANCIAL STATEMENT CAPTIONS
Other current assets	Other current assets on JCG's Consolidated Balance Sheets at December 31, 2015 and 2014, are composed of the following (in millions): December 31, 2015 2014 Income tax receivable $ $ — Deferred commissions Prepaid insurance ​ ​ Prepaid information technology maintenance Deferred income taxes ​ — ​ Stock repurchase program funding — Other current assets ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Total other current assets $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Other accrued liabilities	Other accrued liabilities on JCG's Consolidated Balance Sheets at December 31, 2015 and 2014, are composed of the following (in millions): December 31, 2015 2014 Accrued marketing and distribution $ $ Income tax contingencies Deferred compensation liability ​ ​ Interest payable Income tax payable ​ — ​ Contingent consideration Other accrued liabilities ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Total other accrued liabilities $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Other income, net	Other income, net on JCG's Consolidated Statements of Comprehensive Income for the years ended December 31, 2015, 2014 and 2013, is composed of the following (in millions): Year ended December 31, 2015 2014 2013 Dividend income $ $ $ Interest income Foreign currency gains (losses), net ​ ) ​ ) ​ Other, net — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other income, net $ $ $ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	12 Months Ended
	Dec. 31, 2015
NONCONTROLLING INTERESTS
Schedule of noncontrolling interests in net income	Noncontrolling interests in net income for the years ended December 31, 2015, 2014 and 2013, consisted of the following (in millions): Year ended December 31, 2015 2014 2013 Redeemable noncontrolling interests in: ​ ​ ​ Consolidated seeded investment products $ $ — $ — INTECH ​ ​ ​ Nonredeemable noncontrolling interests in: Consolidated seeded investment products ​ — ​ ) ​ Kapstream — — INTECH ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ Total noncontrolling interests in net income $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of nonredeemable noncontrolling interests	Nonredeemable noncontrolling interests as of December 31, 2015 and 2014, are summarized as follows (in millions): December 31, 2015 2014 Nonredeemable noncontrolling interests in: ​ ​ Consolidated seeded investment products $ — $ Kapstream ​ ​ — INTECH ​ ​ ​ ​ ​ ​ ​ ​ Total nonredeemable noncontrolling interests $ $ ​ ​​ ​ ​ ​​ ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​
Summary of redeemable noncontrolling interests	As of December 31, 2015 and 2014, redeemable noncontrolling interests are summarized as follows (in millions): December 31, 2015 2014 Consolidated seeded investment products $ $ — INTECH: Appreciation rights ​ ​ — Founding member ownership interests Undistributed earnings ​ ) ​ ) ​ ​ ​ ​ ​​ ​ ​ ​ Total redeemable noncontrolling interests $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of rollforward of noncontrolling interests in consolidated seeded investment products	The following table presents a rollforward of noncontrolling interests in consolidated seeded investment products for the years ended December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Beginning of year balance $ $ $ Changes in market value ) Changes in ownership ​ ) ​ ​ ) ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ End of year balance $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

LONG-TERM INCENTIVE COMPENSAT38

LONG-TERM INCENTIVE COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
Components of long-term incentive compensation expense	The components of JCG's long-term incentive compensation expense for the years ended December 31, 2015, 2014 and 2013, are summarized as follows (in millions): Year ended December 31, 2015 2014 2013 Restricted stock awards $ $ $ Mutual fund share awards Profits interests and other ​ ​ ) ​ Stock options ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total long-term incentive compensation $ $ $ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​
Summary of unrecognized compensation, net of estimated forfeitures, and the weighted-average number of years over which the compensation cost will be recognized	At December 31, 2015, unrecognized and unearned compensation, net of estimated forfeitures and excluding mark-to-market adjustments on mutual fund share awards, and the weighted-average number of years over which the compensation cost will be recognized are summarized as follows (in millions): Unrecognized compensation Weighted- average years Restricted stock awards $ ​ Profit interests and other Mutual fund share awards ​ ​ Stock options ​ ​ ​ ​ ​ ​ ​ ​ Total $ ​ ​ ​​ ​ ​ ​​ ​ ​ ​ ​ ​​ ​ ​ ​​ ​ ​ ​
Schedule of assumptions used for fair value of stock options granted	2013 Weighted-average fair value of options granted $ Assumptions: Dividend yield ​ % Expected volatility % Risk-free interest rate ​ % Expected life 5 years
Summary of outstanding options	2015 2014 2013 Shares Weighted- average exercise price Shares Weighted- average exercise price Shares Weighted- average exercise price Outstanding at January 1 ​ $ ​ $ ​ $ Granted — — — — Exercised ​ ) ​ ​ ) ​ ​ ) ​ Forfeited — — ) ) Expired ​ ) ​ ​ ) ​ ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at December 31 $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable (1) ​ $ ​ $ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested or expected to vest $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) The number of exercisable options represents instruments for which all vesting criteria have been satisfied and whose exercise price was below the closing price of the Company's common stock as of the end of the period. Options outstanding for which all vesting criteria have been satisified but whose exercise price was above the closing price of the Company's common stock were 1.2 million and 5.2 million as of December 31, 2014 and 2013, respectively. As of December 31, 2015, the exercise price of all outstanding options was below the closing price of the Company's stock.
Summary of intrinsic value of exercised, outstanding and exercisable options	The following table summarizes the intrinsic value of exercised, outstanding and exercisable options at December 31, 2015, 2014 and 2013 (in millions): December 31, 2015 2014 2013 Exercised $ $ $ Outstanding $ $ $ Exercisable $ $ $
Summary of stock options by range of exercise prices	The following table summarizes the information about stock options that were outstanding at December 31, 2015: Options outstanding Options exercisable Range of exercise prices Number of options outstanding Weighted- average remaining contractual life (years) Weighted- average exercise price Number of options exercisable Weighted- average remaining contractual life (years) Weighted- average exercise price $5 to $10 ​ ​ $ ​ ​ $ $10 to $15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $5 to $15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of unvested restricted stock awards	2015 2014 2013 Shares Weighted- average grant date fair value Shares Weighted- average grant date fair value Shares Weighted- average grant date fair value Unvested at January 1 ​ $ ​ $ ​ $ Granted Vested ​ ) ​ ​ ) ​ ​ ) ​ Forfeited ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unvested at December 31 ​ $ ​ $ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Appreciation Rights October 2014
Summary of assumptions used for fair value of appreciation rights of INTECH long-term incentive awards	The fair value of the appreciation rights was estimated using the Black-Scholes option pricing model with the following assumptions: Assumptions: Dividend yield ​ % Expected volatility % Risk-free interest rate ​ % Expected life 12 years
Appreciation Rights February 2015
Summary of assumptions used for fair value of appreciation rights of INTECH long-term incentive awards	The fair value of the appreciation rights was estimated using the Black-Scholes option pricing model with the following assumptions: Assumptions: Dividend yield ​ % Expected volatility % Risk-free interest rate ​ % Expected life 6 years

ACCUMULATED OTHER COMPREHENSI39

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2015
ACCUMULATED OTHER COMPREHENSIVE LOSS.
Schedule of the changes in accumulated other comprehensive loss, net of tax	Changes in accumulated other comprehensive loss, net of tax, for the years ended December 31, 2015 and 2014, are as follows (in millions): Year ended December 31, 2015 2014 Available-for-sale securities Foreign currency Total Available-for-sale securities Foreign currency Total Beginning balance $ $ ) $ ) $ $ ) $ ) Other comprehensive income (loss) before reclassifications ) ) ) — Amounts reclassified from accumulated other comprehensive loss to: ​ ​ ​ ​ ​ ​ Investment gains (losses), net ) — ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive loss, net of tax ​ ) ​ ) ​ ) ​ ) ​ — ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance $ ) $ ) $ ) $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Components of other comprehensive income (loss), net of tax	The components of other comprehensive income (loss), net of tax for the years ended December 31, 2015, 2014 and 2013, are as follows (in millions): Year ended December 31, 2015 Pre-tax amount Tax (expense) benefit Net amount Net unrealized loss on available-for-sale securities $ ) $ $ ) Foreign currency translation adjustments ) — ) Reclassification for items included in net income ​ ) ​ ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive loss $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2014 Pre-tax amount Tax (expense) benefit Net amount Net unrealized gain on available-for-sale securities $ $ ) $ Reclassification for items included in net income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive loss $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2013 Pre-tax amount Tax (expense) benefit Net amount Net unrealized gain on available-for-sale securities $ $ ) $ Reclassification for items included in net income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive loss $ ) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

EARNINGS AND DIVIDENDS PER SH40

EARNINGS AND DIVIDENDS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2015
EARNINGS AND DIVIDENDS PER SHARE
Summary of earnings per share calculation	The following is a summary of the earnings per share calculation for the years ended December 31, 2015, 2014 and 2013 (in millions, except per share data): Year ended December 31, 2015 2014 2013 Net income attributable to JCG $ $ $ Less: Allocation of earnings to participating restricted stock awards — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to JCG common shareholders $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average common shares outstanding — basic Diluted effect of: ​ ​ ​ 2018 Convertible Notes — Stock warrants ​ ​ — ​ — Stock options, restricted stock and other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average diluted common shares outstanding — diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share: Basic earnings per share $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of anti-dilutive securities that have not been included in the calculation of weighted average diluted shares outstanding	The following stock options, unvested nonparticipating restricted stock and price-vesting units are anti-dilutive and have not been included in the weighted-average diluted shares outstanding calculation (in millions): Year ended December 31, 2015 2014 2013 Employee stock options ​ — ​ ​ Unvested nonparticipating restricted stock and price-vesting units
Schedule of cash dividends declared and paid	Year ended December 31, 2015 2014 2013 Dividends paid per share $ $ $

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES
Future minimum rental commitments	As of December 31, 2015, future minimum rental commitments under non-cancelable operating and capital leases are as follows (in millions): Year ended December 31, Amount 2016 $ 2017 2018 ​ 2019 2020 ​ Thereafter ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
RELATED PARTY TRANSACTIONS
Schedule of related party activity	The table below presents this related party activity for the years ended and as of December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, 2015 2014 2013 Investment management, performance and shareowner servicing fees $ $ $ 12b-1 plan fees earned (1) $ $ $ As of December 31, 2015 2014 2013 Accounts receivable from registered investment companies $ $ $ (1) The annual marketing or distribution fees on a mutual fund.

GEOGRAPHIC INFORMATION (Tables)

GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
GEOGRAPHIC INFORMATION
Summary information of entity's geographic areas	The following summary provides information concerning JCG's principal geographic areas for the years ended and as of December 31, 2015, 2014 and 2013 (in millions): Year ended December 31, Revenues 2015 2014 2013 U.S. $ $ $ International ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, Long-lived assets 2015 2014 2013 U.S. $ $ $ International ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SELECTED QUARTERLY FINANCIAL 44

SELECTED QUARTERLY FINANCIAL DATA (Tables)	12 Months Ended
	Dec. 31, 2015
SELECTED QUARTERLY FINANCIAL DATA
SELECTED QUARTERLY FINANCIAL DATA	2015 (in millions, except per share amounts) First quarter Second quarter Third quarter Fourth quarter Full year Total revenue $ $ $ $ $ Operating income Net income ​ ​ ​ ​ ​ Noncontrolling interests ) ) — ) ) Net income attributable to JCG ​ ​ ​ ​ ​ Basic earnings per share attributable to JCG common shareholders $ $ $ $ $ Diluted earnings per share attributable to JCG common shareholders $ $ $ $ $ 2014 (in millions, except per share amounts) First quarter Second quarter Third quarter Fourth quarter Full year Total revenue $ $ $ $ $ Operating income Net income ​ ​ ​ ​ ​ Noncontrolling interests ) ) ) ) Net income attributable to JCG ​ ​ ​ ​ ​ Basic earnings per share attributable to JCG common shareholders $ $ $ $ $ Diluted earnings per share attributable to JCG common shareholders $ $ $ $ $

DESCRIPTION OF THE BUSINESS (De

DESCRIPTION OF THE BUSINESS (Details)	Dec. 31, 2015
Intech Investment Management LLC
Investment in subsidiaries
Percentage of ownership interest in subsidiary	97.00%

SUMMARY OF SIGNIFICANT ACCOUN46

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - RECLASSIFICATIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Basis of Presentation
Net investing activities	$ (150.7)	$ 67.5	$ (235.3)
Net financing activities	$ (207.2)	(177.4)	(29.7)
Previously Reported
Basis of Presentation
Net investing activities		128.4	(141.7)
Net financing activities		(238.3)	(123.3)
Adjustment
Basis of Presentation
Net investing activities		(60.9)	(93.6)
Net financing activities		$ 60.9	$ 93.6

SUMMARY OF SIGNIFICANT ACCOUN47

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - SEGMENT INFORMATION (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Property and Equipment
Depreciation and amortization expense	$ 11.5	$ 10.4	$ 11.2
Property and equipment, gross	267.5	248.4
Accumulated depreciation	(228.8)	(217.3)
Property and equipment, net	38.7	31.1
Impairments of long-lived assets	$ 0	0	0
Segment Information
Number of business segments | segment	1
Cash and Cash Equivalents
Debt securities	$ 246.9	300.2
Software
Capitalized software costs	$ 13	10.4
Deferred Commissions
Amortization period of sales commission, maximum	4 years
Amortization expense	$ 10.2	5.6	$ 5.3
Deferred commissions - current	4.8	3.9
Deferred commissions - non-current	0.5	0.2
Total	5.3	4.1
Seeded Investment Products
Cash and Cash Equivalents
Cash	1.2
International
Cash and Cash Equivalents
Cash	28	24
Furniture, fixtures, computer equipment and software
Property and Equipment
Property and equipment, gross	$ 228	209.6
Furniture, fixtures, computer equipment and software | Minimum
Property and Equipment
Depreciation period	3 years
Furniture, fixtures, computer equipment and software | Maximum
Property and Equipment
Depreciation period	7 years
Leasehold improvements
Property and Equipment
Property and equipment, gross	$ 39.5	38.8
Leasehold improvements | Minimum
Property and Equipment
Depreciation period	3 years
Leasehold improvements | Maximum
Property and Equipment
Depreciation period	24 years
Computer equipment
Property and Equipment
Capital leased assets	$ 12	$ 6.8

SUMMARY OF SIGNIFICANT ACCOUN48

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - INVESTMENT SECURITIES (Details) - USD ($) $ in Millions	Jul. 01, 2015	Nov. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 01, 2014
Investment securities
Percentage of ownership in new product			100.00%
Employer contributions to deferred compensation plan			$ 0	$ 0	$ 0
Impairment of investments			$ 0	0	0
Minimum ownership percentage to classify security as level 2			50.00%
Fair Value Measurements
Noncontrolling Interest, Change in Redemption Value			$ 0.7	1.2	1.8
Income Taxes
Accrued interest included in liability for income tax contingencies			$ 0.8	$ 0.8	$ 1.3
Revenue Recognition
Positive or negative adjustment to the investment management fee as a percentage of fund's daily net average assets, maximum			0.15%
Period of measurement used for calculation of fund's daily net average assets			36 months
VelocityShares
Contingent Consideration
Ownership interest acquired (as a percent)						100.00%
Contingent cash consideration if certain revenue targets are achieved						$ 36
VelocityShares | First Anniversary
Contingent Consideration
Contingent cash consideration if certain revenue targets are achieved						10
VelocityShares | First Anniversary | Maximum
Contingent Consideration
Contingent consideration paid		$ 10
VelocityShares | Second Anniversary
Contingent Consideration
Contingent cash consideration if certain revenue targets are achieved						10
VelocityShares | Third Anniversary
Contingent Consideration
Contingent cash consideration if certain revenue targets are achieved						8
VelocityShares | Fourth Anniversary
Contingent Consideration
Contingent cash consideration if certain revenue targets are achieved						$ 8
Kapstream
Contingent Consideration
Ownership interest acquired (as a percent)	51.00%
Contingent consideration payable period, low	18 months
Contingent consideration payable period, high end	36 months
Contingent cash consideration if certain revenue targets are achieved			$ 9.1
Seeded Investment Products
Investment securities
Ownership interest accounted as investments in individual securities (as a percent)			100.00%
Seeded Investment Products | Unconsolidated | Minimum
Investment securities
Ownership percentage			20.00%	20.00%
Seeded Investment Products | Unconsolidated | Maximum
Investment securities
Ownership percentage			50.00%	50.00%
Seeded Investment Products | Trading Securities
Investment securities
Minimum controlling interest required for consolidation (as a percent)			50.00%
Seeded Investment Products | Trading Securities | Maximum
Investment securities
Ownership percentage to classify security as level 1			50.00%
Seeded Investment Products | Available-for-sale Securities | Maximum
Investment securities
Available-for-sale securities required for consolidation (as a percent)			20.00%

RECENT ACCOUNTING PRONOUNCEME49

RECENT ACCOUNTING PRONOUNCEMENTS (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Debt Issuance Cost	$ 3.9
Trading Securities | Seeded Investment Products
Minimum Percentage of Ownership in Order to Qualify as Controlling Interest	50.00%

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Millions	Jul. 01, 2015	Dec. 01, 2014	Nov. 30, 2015	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Assets:
Goodwill				$ 602.8		$ 602.8	$ 509.7
Adjustment
Foreign currency translation loss						$ 4.3
Maximum | Client relationships
Adjustment
Estimated useful life						17 years
Kapstream
Acquisitions
Ownership interest acquired (as a percent)	51.00%
Ownership interest that the Company has an option to purchase	49.00%
Initial upfront cash consideration	$ 84.1
Contingent consideration payable period, low	18 months
Contingent consideration payable period, high end	36 months
Contingent cash consideration if certain revenue targets are achieved				9.1		$ 9.1
Contingent consideration increase to the liability and expense						1.2
Fair value of contingent consideration	$ 6			6.9		6.9
Assets:
Cash and cash equivalents	7.3			7.3		7.3
Investment securities	4.4			4.4		4.4
Accounts receivable	4.6			4.6		4.6
Intangible assets	114.7			111.6		111.6
Goodwill	90.1			97.3		97.3
Other current assets	3.1			3.1		3.1
Other non-current assets, net	0.1			0.1		0.1
Liabilities:
Contingent consideration	(6)			(6)		(6)
Deferred income taxes	(34.4)			(33.5)		(33.5)
Other accrued liabilities	(10.2)			(10.2)		(10.2)
Noncontrolling interests	(85.7)			(85.7)		(85.7)
Net assets acquired	$ 88			93		93
Adjustment
Intangibles				(3.1)
Goodwill				7.2
Deferred income taxes				0.9
Net assets acquired				5
Noncontrolling interests ownership (as a percent)	49.00%
Kapstream | Other comprehensive loss
Adjustment
Foreign currency translation loss						4.3
Kapstream | General Administrative and Occupancy Expense
Acquisitions
Bank advisory fees and other deal costs					$ 2.1
Kapstream | Other accrued liabilities
Acquisitions
Fair value of contingent consideration				3.8		3.8
Kapstream | Other non-current liabilities
Acquisitions
Fair value of contingent consideration				3.1		3.1
Kapstream | Distribution rights
Acquisitions
Initial upfront cash consideration	$ 3.9
Kapstream | Client relationships
Adjustment
Estimated useful life	10 years
Amortization period	10 years
VelocityShares
Acquisitions
Ownership interest acquired (as a percent)		100.00%
Initial upfront cash consideration		$ 32.7
Contingent cash consideration if certain revenue targets are achieved		$ 36
Contingent consideration increase to the liability and expense						5.2
VelocityShares-branded products in assets				3,200		3,200	$ 2,400
Period of time for achievement of certain revenue targets		4 years
Assets:
Cash and cash equivalents		$ 4.3
Intangible assets		36.9
Goodwill		21.5
Liabilities:
Deferred income taxes		(11)
Other accrued liabilities		(1.1)
Net assets acquired		50.6
VelocityShares | First Anniversary
Acquisitions
Contingent cash consideration if certain revenue targets are achieved		10
VelocityShares | Second Anniversary
Acquisitions
Contingent cash consideration if certain revenue targets are achieved		10
VelocityShares | Third Anniversary
Acquisitions
Contingent cash consideration if certain revenue targets are achieved		8
VelocityShares | Fourth Anniversary
Acquisitions
Contingent cash consideration if certain revenue targets are achieved		$ 8
VelocityShares | Other accrued liabilities
Acquisitions
Fair value of contingent consideration				8.1		8.1
VelocityShares | Other non-current liabilities
Acquisitions
Fair value of contingent consideration				$ 5		$ 5
VelocityShares | Maximum | First Anniversary
Acquisitions
Contingent consideration paid			$ 10

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)instrumentitem	Dec. 31, 2014USD ($)instrumentitem	Dec. 31, 2013USD ($)
Short-term investments:
Estimated Fair Value	$ 327.1	$ 344
Net gains (losses):
Total	1.1	(1)	$ (4)
Net gains (losses) in net income related to:
Translation gains	(0.4)	(1.9)	4.3
Foreign currency forward contract gains	0.2	1.3	(4.3)
Total	(0.2)	(0.6)
Investment gains (losses), net	(8.2)	(1.9)	6.5
Cash flows related to investment securities
Purchases and settlements	(91)	(168.6)	(291.7)
Sales, settlements and maturities	67.6	336.8	157.6
Seeded Investment Products
Available-for-sale securities.
Purchases and settlements	1.1	2.2
Net gains (losses):
Total hedged seed investments	(3.7)	10.2	33.4
Net gains (losses) in net income related to:
Investment gains (losses), net	(11.1)	8.6	28.9
Investments related to deferred compensation plans
Net gains (losses) in net income related to:
Investment gains (losses), net	0.1	1.3	3
Other Investment Securities
Net gains (losses) in net income related to:
Investment gains (losses), net		0.1	0.1
Seeded investment products
Net gains (losses) in net income related to:
Investment gains (losses), net	0.4	(0.6)	3.4
Investments in advised funds
Net gains (losses) in net income related to:
Investment gains (losses), net	(0.2)	(0.1)	8.5
Index Swaps, Credit default Swaps and Futures Contract
Net gains (losses) in net income related to:
Investment gains (losses), net	2.6	(11.2)	(37.4)
Index Swap
Net gains (losses):
Gains (losses) on derivatives not designated as hedging	2.9	(3)	(16.7)
Futures
Net gains (losses):
Gains (losses) on derivatives not designated as hedging	(0.1)	$ (8.2)	(20.7)
Credit Default Swap
Net gains (losses):
Gains (losses) on derivatives not designated as hedging	$ (0.2)
Unconsolidated | Seeded Investment Products | Minimum
Short-term investments:
Ownership percentage	20.00%	20.00%
Unconsolidated | Seeded Investment Products | Maximum
Short-term investments:
Ownership percentage	50.00%	50.00%
Trading Securities
Short-term investments:
Estimated Fair Value	$ 256.1	$ 275.7
Cash flows related to investment securities
Purchases and settlements	(66.6)	(143.5)	(118)
Sales, settlements and maturities	53.4	148	79.1
Trading Securities | Seeded Investment Products
Short-term investments:
Trading securities still held at period end	(9.5)	4.3	23.6
Net gains (losses):
Total hedged seed investments	(2.1)	7.3	31.8
Trading Securities | Mutual Fund Share Awards
Short-term investments:
Estimated Fair Value	4.2	4.4
Trading Securities | Investments related to deferred compensation plans
Short-term investments:
Estimated Fair Value	16.3	13
Trading Securities | Separate accounts
Short-term investments:
Estimated Fair Value	$ 100.2	$ 66.5
Number of separately managed accounts | item	35	31
Trading Securities | Investments in advised funds
Short-term investments:
Estimated Fair Value	$ 135.4	$ 191.8
Number of separately managed accounts | item	15	17
Trading Securities | Consolidated | Seeded Investment Products
Short-term investments:
Estimated Fair Value	$ 130.7	$ 212.5
Trading Securities | Consolidated | Separate accounts
Short-term investments:
Estimated Fair Value	$ 96.2	$ 66.4
Number of separately managed accounts | item	26	23
Trading Securities | Consolidated | Investments in advised funds
Short-term investments:
Estimated Fair Value	$ 34.5	$ 146.1
Number of separately managed accounts | item	8	12
Trading Securities | Unconsolidated | Seeded Investment Products
Short-term investments:
Estimated Fair Value	$ 104.9	$ 45.8
Trading Securities | Unconsolidated | Separate accounts
Short-term investments:
Estimated Fair Value	$ 4	$ 0.1
Number of separately managed accounts | item	9	8
Trading Securities | Unconsolidated | Investments in advised funds
Short-term investments:
Estimated Fair Value	$ 100.9	$ 45.7
Number of separately managed accounts | item	7	5
Available-for-sale Securities
Available-for-sale securities.
OTTI charges	$ 0	$ 0	0
Available-for-Sale Securities
Realized gains		2.8	2.6
Realized losses		(0.1)	(2.1)
Net realized gains (losses)		2.7	0.5
Cash flows related to investment securities
Purchases and settlements	(11.5)	(0.7)	(103.5)
Sales, settlements and maturities	0.1	174.9	47
Available-for-sale Securities | Seeded Investment Products
Net gains (losses):
Total hedged seed investments	(1.6)	2.9	1.6
Available-for-sale Securities | Unconsolidated | Seeded Investment Products
Short-term investments:
Estimated Fair Value	$ 71	$ 68.3
Number of portfolios of funds | item	41	40
Available-for-sale securities.
Available-for-sale Securities, Amortized Cost Basis, Total	$ 75	$ 68.6
Available-for-sale securities, Gross unrealized gains	0.3	0.4
Available-for-sale securities, Gross unrealized losses	(3.9)	(0.6)
Foreign currency translation	(0.4)	(0.1)
Available-for-sale securities, Estimated fair value	71	68.3
Derivative Instruments | Seed capital economic hedge
Cash flows related to investment securities
Purchases and settlements	(12.9)	(24.4)	(70.2)
Sales, settlements and maturities	$ 14.1	$ 13.9	$ 31.5
Derivative Instruments | Index Swap | Not Designated as Hedging Instrument
Available-for-Sale Securities
Number of positions of derivative | instrument	6	4
Notional value of derivative	$ 34.4	$ 56.8
Derivative Instruments | Futures | Not Designated as Hedging Instrument
Available-for-Sale Securities
Number of positions of derivative | instrument	38	6
Notional value of derivative	$ 91.7	$ 74.9
Derivative Instruments | Credit Default Swap | Not Designated as Hedging Instrument
Available-for-Sale Securities
Number of positions of derivative | instrument	2
Notional value of derivative	$ 66.5
Derivative Instruments | Foreign Currency Forward Contracts | Not Designated as Hedging Instrument
Available-for-Sale Securities
Number of positions of derivative | instrument		7
Notional value of derivative		$ 3.6
Cash Collateral | Seeded Investment Products
Available-for-sale securities.
Purchases and settlements	4.7	1.8
Cash Collateral | Index Futures
Available-for-sale securities.
Purchases and settlements	$ 3.3
Cash Collateral | Credit Default Swap
Available-for-sale securities.
Purchases and settlements		$ 1.7
Index Swap | Derivative Instruments | Seeded Investment Products
Available-for-Sale Securities
Number of positions of derivative | instrument	96	117
Notional value of derivative	$ 40.9	$ 65.8
Index Futures | Derivative Instruments | Seeded Investment Products
Available-for-Sale Securities
Number of positions of derivative | instrument	75	32
Notional value of derivative	$ 20.8	$ 41.5
Foreign Currency Forward Contracts | Seeded Investment Products
Available-for-sale securities.
Purchases and settlements	$ 0.1
Foreign Currency Forward Contracts | Derivative Instruments | Seeded Investment Products
Available-for-Sale Securities
Number of positions of derivative | instrument	61	37
Notional value of derivative	$ 9.9	$ 2.4
Option | Derivative Instruments | Seeded Investment Products
Available-for-Sale Securities
Number of positions of derivative | instrument	66	29
Notional value of derivative	$ 0.2	$ 0.5

INVESTMENT SECURITIES - OFFSETT

INVESTMENT SECURITIES - OFFSETTING DERIVATIVES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Liabilities
Gross amounts, Liabilities	$ 0.7
Gross amounts offset, Liabilities	(0.1)
Gross amounts offset by cash collateral	(0.5)
Net amount, Liabilities	0.1
Credit Default Swap
Liabilities
Gross amounts, Liabilities	0.5
Gross amounts offset by cash collateral	(0.5)
Index Swaps
Assets
Gross amounts		$ 0.3
Net amount, Assets		0.3
Liabilities
Gross amounts, Liabilities	0.1
Net amount, Liabilities	0.1
Futures
Assets
Gross amounts	0.3
Gross amounts offset by derivative instruments	(0.1)
Net amount, Assets	0.2
Liabilities
Gross amounts, Liabilities	0.1	1.2
Gross amounts offset, Liabilities		(1.2)
Gross amounts offset by cash collateral	(0.1)
Seeded Investment Products
Assets
Gross amounts	1.1	2.2
Gross amounts offset by derivative instruments	(0.7)	(0.8)
Net amount, Assets	0.4	1.4
Liabilities
Gross amounts, Liabilities	1	0.8
Gross amounts offset, Liabilities	(0.8)	(0.8)
Gross amounts offset by cash collateral	(0.2)
Seeded Investment Products | Foreign Currency Forward Contracts
Assets
Gross amounts	0.1
Gross amounts offset by derivative instruments	(0.1)
Seeded Investment Products | Cash Collateral
Assets
Gross amounts	4.7	1.8
Seeded Investment Products | Consolidated | Credit default swap, selling protection contracts
Seeded investment products, credit protection
Notional value of derivative	11.3
Fair value of credit default swap contracts	$ 0.1
Seeded Investment Products | Consolidated | Credit default swap, selling protection contracts | Minimum
Seeded investment products, credit protection
Term of credit default swap contracts (in years)	1 year
Seeded Investment Products | Consolidated | Credit default swap, selling protection contracts | Maximum
Seeded investment products, credit protection
Term of credit default swap contracts (in years)	5 years
Seeded Investment Products | Index Swaps
Assets
Gross amounts	$ 0.9	1.4
Gross amounts offset by derivative instruments	(0.5)	(0.4)
Net amount, Assets	0.4	1
Liabilities
Gross amounts, Liabilities	0.6	0.4
Gross amounts offset, Liabilities	(0.6)	(0.4)
Seeded Investment Products | Option
Assets
Gross amounts		0.2
Net amount, Assets		0.2
Seeded Investment Products | Futures
Assets
Gross amounts	0.1	0.6
Gross amounts offset by derivative instruments	(0.1)	(0.4)
Net amount, Assets		0.2
Liabilities
Gross amounts, Liabilities	0.3	0.4
Gross amounts offset, Liabilities	(0.1)	$ (0.4)
Gross amounts offset by cash collateral	$ (0.2)

GOODWILL AND INTANGIBLE ASSET53

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	Jul. 01, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Definite-lived intangible assets:
Accumulated amortization, balance at the beginning of the year		$ (118.9)
Amortization		(11.3)	$ (9.6)	$ (12.2)
Accumulated amortization, balance at the end of the year		(130.2)	(118.9)
Intangible asset impairment charges		0	0	0
Net intangible assets
Net intangible assets, balance at the beginning of the year		1,257.4
Intangible assets acquired		111.6
Amortization		(11.3)	(9.6)	(12.2)
Foreign currency translation		(5.2)
Net intangible assets, balance at the end of the year		1,352.5	1,257.4
Goodwill
Goodwill, balance at the beginning of the year		509.7
Goodwill acquired		97.3
Foreign currency translation		(4.2)
Goodwill, balance at the end of the year		602.8	509.7
Future Amortization expense:
2,016		12.5
2,017		12.5
2,018		9.8
2,019		7.6
2,020		5.5
Thereafter		34.8
Finite-Lived Intangible Assets, Net, Total		82.7
Impairment charges on indefinite-lived intangible assets			0	0
Impairment charges on goodwill		0	0	$ 0
Client relationships
Definite-lived intangible assets:
Balance at the beginning of the year		183.8
Acquisition		29.1
Foreign currency translation		(1.3)
Balance at the end of the year		211.6	183.8
Intangible asset impairment charges		0	0
Investment management agreements
Indefinite-lived intangible assets:
Balance at the beginning of the year		921.9
Indefinite-lived assets acquired		79.5
Foreign currency translation		(3.8)
Balance at the end of the year		997.6	921.9
Brand name and trademark
Indefinite-lived intangible assets:
Balance at the beginning of the year		270.6
Indefinite-lived assets acquired		3
Foreign currency translation		(0.1)
Balance at the end of the year		$ 273.5	$ 270.6
Minimum | Client relationships
Definite-lived intangible assets:
Estimated life		10 years
Maximum | Client relationships
Definite-lived intangible assets:
Estimated life		17 years
Kapstream
Goodwill
Goodwill, balance at the end of the year	$ 90.1	$ 97.3
Kapstream | Client relationships
Definite-lived intangible assets:
Estimated life	10 years

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Dec. 31, 2015	Jul. 01, 2015	Dec. 31, 2014
Assets
Total investment securities	$ 327.1		$ 344
Liabilities
Derivative liabilities	0.1
Redeemable noncontrolling interests	21.8		5.4
Kapstream
Liabilities
contingent consideration	6.9	$ 6
Seeded Investment Products
Assets
Derivative assets	0.4		$ 1.4
Liabilities
Redeemable noncontrolling interests	$ 13.8
Unconsolidated | Seeded Investment Products | Minimum
Liabilities
Ownership percentage	20.00%		20.00%
Unconsolidated | Seeded Investment Products | Maximum
Liabilities
Ownership percentage	50.00%		50.00%
INTECH founding member ownership interests
Liabilities
Redeemable noncontrolling interests	$ 5.2		$ 5.9
Fair Value, Measurements, Recurring
Assets
Cash equivalents	246.9		300.2
Total investment securities	327.1		344
Total assets	574.3		644.5
Liabilities
Current portion of long-term debt	158.6
Long-term debt	307.6		558
Total liabilities	486.9		577.1
Redeemable noncontrolling interests	21.8
Fair Value, Measurements, Recurring | Kapstream
Liabilities
contingent consideration	6.9
Fair Value, Measurements, Recurring | VelocityShares
Liabilities
contingent consideration	13.1		17.9
Fair Value, Measurements, Recurring | Index Swap
Assets
Derivative assets			0.3
Liabilities
Derivative liabilities	0.1
Fair Value, Measurements, Recurring | Futures
Assets
Derivative assets	0.3
Liabilities
Derivative liabilities	0.1		1.2
Fair Value, Measurements, Recurring | Credit Default Swap
Liabilities
Derivative liabilities	0.5
Fair Value, Measurements, Recurring | Investments in advised funds
Assets
Trading securities	4.2		4.4
Fair Value, Measurements, Recurring | Investments related to deferred compensation plans
Assets
Trading securities	16.3		13
Fair Value, Measurements, Recurring | Consolidated | Seeded Investment Products
Assets
Trading securities	130.7		212.5
Liabilities
Redeemable noncontrolling interests	13.8
Fair Value, Measurements, Recurring | Unconsolidated | Seeded Investment Products
Assets
Trading securities	104.9		45.8
Available-for-sale securities, Estimated fair value	71		68.3
Fair Value, Measurements, Recurring | INTECH founding member ownership interests
Liabilities
Redeemable noncontrolling interests	8		5.4
Fair Value, Measurements, Recurring | Level 1
Assets
Cash equivalents	57.4		7.7
Total investment securities	266.5		222.3
Total assets	324.2		230
Liabilities
Total liabilities	0.1		1.2
Redeemable noncontrolling interests	6.1
Fair Value, Measurements, Recurring | Level 1 | Futures
Assets
Derivative assets	0.3
Liabilities
Derivative liabilities	0.1		1.2
Fair Value, Measurements, Recurring | Level 1 | Investments in advised funds
Assets
Trading securities	4.2		4.4
Fair Value, Measurements, Recurring | Level 1 | Investments related to deferred compensation plans
Assets
Trading securities	16.3		13
Fair Value, Measurements, Recurring | Level 1 | Consolidated | Seeded Investment Products
Assets
Trading securities	70.1		90.8
Liabilities
Redeemable noncontrolling interests	6.1
Fair Value, Measurements, Recurring | Level 1 | Unconsolidated | Seeded Investment Products
Assets
Trading securities	104.9		45.8
Available-for-sale securities, Estimated fair value	71		68.3
Fair Value, Measurements, Recurring | Level 2
Assets
Cash equivalents	189.5		292.5
Total investment securities	60.6		121.7
Total assets	250.1		414.5
Liabilities
Current portion of long-term debt	158.6
Long-term debt	307.6		558
Total liabilities	466.8		558
Redeemable noncontrolling interests	7.7
Fair Value, Measurements, Recurring | Level 2 | Index Swap
Assets
Derivative assets			0.3
Liabilities
Derivative liabilities	0.1
Fair Value, Measurements, Recurring | Level 2 | Credit Default Swap
Liabilities
Derivative liabilities	0.5
Fair Value, Measurements, Recurring | Level 2 | Consolidated | Seeded Investment Products
Assets
Trading securities	60.6		121.7
Liabilities
Redeemable noncontrolling interests	7.7
Fair Value, Measurements, Recurring | Level 3
Liabilities
Total liabilities	20		17.9
Redeemable noncontrolling interests	8
Fair Value, Measurements, Recurring | Level 3 | Kapstream
Liabilities
contingent consideration	6.9
Fair Value, Measurements, Recurring | Level 3 | VelocityShares
Liabilities
contingent consideration	13.1		17.9
Fair Value, Measurements, Recurring | Level 3 | INTECH founding member ownership interests
Liabilities
Redeemable noncontrolling interests	$ 8		$ 5.4

FAIR VALUE MEASUREMENTS - LEVEL

FAIR VALUE MEASUREMENTS - LEVEL 3 ROLLFORWARD (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jul. 01, 2015
Changes in fair value
Distributions	$ (1)	$ (1)	$ (1.6)
Purchase of redeemable noncontrolling interests	(0.4)	(0.9)	(0.3)
Foreign currency translation losses	(0.4)	(1.9)	4.3
Change in fair value	0.7	1.2	1.8
Level 3 | Fair Value, Measurements, Recurring | INTECH founding member ownership interests
Changes in fair value
Balance at the beginning of the year, Liability Value	5.4	7.3
Distributions	(0.7)	(0.6)
Current earnings	0.6	0.5
Purchase of redeemable noncontrolling interests		(0.6)
Amortization of INTECH appreciation rights	3.4
Change in fair value	(0.7)	(1.2)
Balance at the end of the year, Liability Value	8	5.4	$ 7.3
VelocityShares | Fair Value, Measurements, Recurring
Changes in fair value
Issuance	13.1	17.9
VelocityShares | Level 3 | Fair Value, Measurements, Recurring
Changes in fair value
Balance at the beginning of the year, Liability Value	17.9
Distributions	(10)
Issuance		17.9
Balance at the end of the year, Liability Value	13.1	$ 17.9
VelocityShares | Level 3 | Fair Value, Measurements, Recurring | General Administrative and Occupancy Expense
Changes in fair value
Change in fair value	5.2
Kapstream
Changes in fair value
Issuance	6.9			$ 6
Kapstream | Fair Value, Measurements, Recurring
Changes in fair value
Issuance	6.9
Kapstream | Level 3 | Fair Value, Measurements, Recurring
Changes in fair value
Issuance	6
Foreign currency translation losses	(0.3)
Balance at the end of the year, Liability Value	6.9
Kapstream | Level 3 | Fair Value, Measurements, Recurring | General Administrative and Occupancy Expense
Changes in fair value
Change in fair value	$ 1.2

FAIR VALUE MEASUREMENTS - TRANS

FAIR VALUE MEASUREMENTS - TRANSFERS BETWEEN LEVELS (Details) - USD ($) $ in Millions	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
FAIR VALUE MEASUREMENTS
Transfers from Level 1 to Level 2			$ 4.9
Transfers from Level 2 to Level 1	$ 44.4	$ 44.3	$ 1.2

DEBT (Details)

DEBT (Details) $ / shares in Units, $ in Millions	Nov. 20, 2015$ / shares	Jul. 31, 2015USD ($)	Jun. 30, 2013$ / shares	Dec. 31, 2015USD ($)$ / shares	Sep. 30, 2015USD ($)	Jun. 30, 2013$ / shares	Dec. 31, 2015USD ($)item$ / shares	Dec. 31, 2014USD ($)$ / shares	Dec. 31, 2013USD ($)$ / shares	Nov. 21, 2014$ / shares	Jun. 14, 2013$ / shares
Components of debt
Less: Current portion				$ 108.9			$ 108.9
Total long-term debt				297.2			$ 297.2	$ 450.5
Other Disclosures
Credit facility covenant terms, financing leverage ratio, maximum							3
Carrying value of obligations				$ 5.6			$ 5.6	0.8
Interest Expense							27.7	$ 33.1	$ 41.1
Debt issuance cost							$ 3.9
Quarterly cash dividend per share paid (in dollars per share) | $ / shares				$ 0.09		$ 0.07	$ 0.35	$ 0.31	$ 0.21
Increased conversion price per share of common stock (in dollars per share) | $ / shares										$ 12.52
Repayments of Long-term Debt							$ 380.3	$ 98.9	$ 8.9
Loss on extinguishment of debt							36.3		$ 13.5
Aggregate maturities of indebtedness
2,018				$ 158.6			158.6
Thereafter				300			300
Total				458.6			458.6
Carrying value
Components of debt
Total				406.1			406.1	450.5
Less: Current portion				108.9			108.9
Total long-term debt				297.2			297.2	450.5
Fair Value
Components of debt
Total				466.2			466.2	558
Less: Current portion				158.6			158.6
Total long-term debt				307.6			307.6	$ 558
4.875% Senior Notes due 2025
Components of debt
Interest rate (as a percent)		4.875%
Other Disclosures
Face value of debt issued		$ 300
Debt issuance cost		$ 2.6
Term of debt		10 years
Unamortized discount				2.8			2.8
4.875% Senior Notes due 2025 | Carrying value
Components of debt
Total				297.2			297.2
4.875% Senior Notes due 2025 | Fair Value
Components of debt
Total				$ 307.6			$ 307.6
0.750% Convertible Senior Notes due 2018
Components of debt
Interest rate (as a percent)				0.75%			0.75%	0.75%
Other Disclosures
Interest Expense							$ 4.3
Unamortized discount				$ 7.7			$ 7.7
Conversion rate, shares per $1,000 principal amount	92.67		92.06
Adjusted conversion price per share of common stock (in dollars per share) | $ / shares	$ 10.79		$ 10.86			$ 10.86					$ 10.86
Percentage of the conversion price that the last reported sales price of the entity's common stock must equal or exceed as per conversion eligibility terms							130.00%
Number of trading days within 30 consecutive trading days required per the conversion eligibility terms, minimum | item							20
Increased conversion price per share of common stock (in dollars per share) | $ / shares											$ 12.60
0.750% Convertible Senior Notes due 2018 | Carrying value
Components of debt
Total				108.9			$ 108.9	$ 106
0.750% Convertible Senior Notes due 2018 | Fair Value
Components of debt
Total				$ 158.6			$ 158.6	$ 177.2
6.700% Senior Notes due 2017
Components of debt
Interest rate (as a percent)				4.875%			4.875%	4.875%
Other Disclosures
Loss recognized on repurchase of notes					$ 36.3
6.700% Senior Notes due 2017 | Carrying value
Components of debt
Total								$ 344.5
6.700% Senior Notes due 2017 | Fair Value
Components of debt
Total								$ 380.8
Credit Facility
Other Disclosures
Credit facility, maximum borrowing capacity				$ 200			$ 200
Credit facility covenant terms, financing leverage ratio, maximum							4
Financing leverage ratio							0.98%
Interest coverage ratio							16.86%
Borrowings under the Credit Facility				$ 0			$ 0
3.250% Convertible Senior Notes due 2014
Other Disclosures
Number of trading days within 30 consecutive trading days required per the conversion eligibility terms, minimum | item							30
6.119% Senior Notes due 2014
Components of debt
Interest rate (as a percent)				6.70%			6.70%	6.70%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
INCOME TAXES
Domestic	$ 227.9	$ 245.3	$ 180.8
International	25.4	12.4	14.7
Income before taxes	253.3	257.7	195.5
Current:
Federal	63.3	72.7	61.1
State and local	0.9	7	6.4
International	5.9	2.5	3.7
Total Current	70.1	82.2	71.2
Deferred:
Federal	18.9	18.4	2.1
State and local	4.9	1.9
International	0.1	(0.2)
Total deferred	23.9	20.1	2.1
Total income tax provision	(94)	(102.3)	$ (73.3)
Deferred income tax assets:
Compensation and benefits	42	50
Accrued liabilities	2.7	2.7
Investments	4.6	2.6
Tax attributes	5.6	8.2
Other	5.4	5.3
Total deferred income tax assets	60.3	68.8
Deferred income tax liabilities:
Intangible assets	(546.6)	(502.9)
Prepaid expenses	(7.5)	(6.4)
Other	(5.1)	(5)
Total deferred income tax liabilities	(559.2)	(514.3)
Net deferred income tax liabilities	(498.9)	(445.5)
Deferred tax assets and liabilities reflected on the balance sheet
Current deferred income tax asset		32.9
Non-current deferred income tax liability	(498.9)	(478.4)
Net deferred income tax liabilities	$ (498.9)	$ (445.5)

INCOME TAXES - RECONCILIATION (

INCOME TAXES - RECONCILIATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
JCG's effective income tax rate differs from the statutory federal income tax rate
Federal statutory rate (as a percent)	35.00%	35.00%	35.00%
State and local tax rate, net of federal benefit (as a percent)	2.30%	2.30%	2.30%
Noncontrolling interests (as a percent)	(0.50%)	(0.10%)	(1.40%)
Tax adjustments (as a percent)	(1.20%)	(0.50%)	(0.80%)
Equity-based compensation (as a percent)		3.00%	2.50%
Other (as a percent)	1.50%		(0.10%)
Total effective income tax rate (as a percent)	37.10%	39.70%	37.50%
Reconciliation of beginning and ending liability:
Balance at the beginning of the year	$ 5.4	$ 5.6	$ 5.9
Additions for tax positions of current year	0.6	0.8	1
Additions for tax positions of prior years	0.3
Reduction due to statute expirations	(0.6)	(1)	(0.9)
Reduction due to settlement of audits	(0.3)		(0.4)
Balance at the end of the year	5.4	5.4	5.6
Deferred tax asset associated with the tax contingencies liability	1.9
Favorable affect on income tax provision due to reversal of tax contingencies liability and related deferred tax asset	3.5
Decrease in income tax contingency reserves due to the expiration of statutes of limitations and audit settlements	0.9
Net tax benefit related to change in income tax contingency reserves	0.5
Anticipated decrease in income tax contingency reserves in the next 12 months	(1.8)
Accrued interest included in liability for income tax contingencies	$ 0.8	$ 0.8	$ 1.3

OTHER FINANCIAL STATEMENT CAP60

OTHER FINANCIAL STATEMENT CAPTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other current assets
Income taxes receivable	$ 11.7
Deferred commissions	4.8	$ 3.9
Prepaid insurance	3	3
Prepaid information technology maintenance	3.2	3.3
Deferred income taxes		32.9
Stock repurchase program funding		5.5
Other current assets	18.7	11.2
Total other current assets	41.4	59.8
Other current accrued liabilities
Accrued marketing and distribution	14.6	15.2
Income tax contingencies	2.2	1.6
Deferred compensation liability	23	27.5
Interest payable	6.5	1.4
Income tax payable		10.1
Velocity Shares contingent consideration	11.9	8.6
Other accrued liabilities	16	13.6
Total other accrued liabilities	74.2	78
Other Income, Net
Dividend income	8.1	5.6	$ 3.8
Interest income	0.7	0.6	0.5
Foreign currency losses, net	(5.8)	(3.2)	0.2
Other, net	0.2
Total other income (expense), net	$ 3.2	$ 3	$ 4.5

NONCONTROLLING INTERESTS - NONR

NONCONTROLLING INTERESTS - NONREDEEMABLE (Details) - USD ($) $ in Millions	3 Months Ended							12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jul. 01, 2015
Noncontrolling interests in net income
Total noncontrolling interests in net income	$ 1.7	$ 0.2	$ 1.6	$ 0.1	$ (0.3)	$ 0.6	$ 0.6	$ 3.5	$ 1	$ 7.5
Nonredeemable noncontrolling interests
Total nonredeemable noncontrolling interests	89.4		47.3	47.3				47.3	47.3
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Balance at the beginning of the year			47.3					47.3
Total nonredeemable noncontrolling interests	89.4			47.3				89.4	47.3
Seeded Investment Products
Noncontrolling interests in net income
Redeemable noncontrolling interests								0.4
Nonredeemable noncontrolling interests									(0.6)	3.4
Nonredeemable noncontrolling interests
Total nonredeemable noncontrolling interests	13.8		41.1	41.1			8.8	41.1	8.8	12.4
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Balance at the beginning of the year			41.1				$ 8.8	41.1	8.8	12.4
Change in market value								0.3	(0.6)	3.4
Change in ownership								(27.6)	32.9	(7)
Total nonredeemable noncontrolling interests	13.8			41.1				13.8	41.1	8.8
INTECH founding member ownership interests
Nonredeemable noncontrolling interests
Total nonredeemable noncontrolling interests	6.5		6.2	6.2				6.2	6.2
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Balance at the beginning of the year			$ 6.2					6.2
Total nonredeemable noncontrolling interests	6.5			$ 6.2				6.5	6.2
INTECH
Noncontrolling interests in net income
Redeemable noncontrolling interests								0.6	0.5	3
Nonredeemable noncontrolling interests								1.1	$ 1.1	$ 1.1
Kapstream
Noncontrolling interests in net income
Nonredeemable noncontrolling interests								1.4
Nonredeemable noncontrolling interests
Total nonredeemable noncontrolling interests	82.9							82.9
Ownership interest acquired (as a percent)											51.00%
Ownership interest that the Company has an option to purchase											49.00%
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Total nonredeemable noncontrolling interests	$ 82.9							$ 82.9

NONCONTROLLING INTERESTS - REDE

NONCONTROLLING INTERESTS - REDEEMABLE (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Redeemable Noncontrolling Interests
Redeemable noncontrolling interests		$ 21.8	$ 5.4
Seeded Investment Products
Redeemable Noncontrolling Interests
Redeemable noncontrolling interests		$ 13.8
Maximum
Redeemable Noncontrolling Interests
Vesting period		10 years
Maximum | Seeded Investment Products
Redeemable Noncontrolling Interests
Ownership percentage		50.00%
INTECH
Redeemable Noncontrolling Interests
INTECH appreciation rights		$ 3.4
INTECH undistributed earnings		(0.6)	(0.5)
Redeemable noncontrolling interests		5.2	5.9
INTECH | Appreciation Rights
Redeemable Noncontrolling Interests
Long-term incentive awards granted	$ 23.2
Vesting period	10 years
INTECH founding member ownership interests
Redeemable Noncontrolling Interests
Redeemable noncontrolling interests		$ 5.2	$ 5.9
Remaining interest (as a percent)		1.00%	1.00%

LONG-TERM INCENTIVE COMPENSAT63

LONG-TERM INCENTIVE COMPENSATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Long-term incentive compensation expense
Total long-term incentive compensation	$ 76.8	$ 51.3	$ 63.1
Restricted Stock Awards
Long-term incentive compensation expense
Total long-term incentive compensation	35.1	27	21
Restricted Stock Awards | Intech Investment Management LLC | Key employees
Long-term incentive compensation expense
Total long-term incentive compensation	1	1.7	2.4
Mutual Fund Share Awards
Long-term incentive compensation expense
Total long-term incentive compensation	25.3	32.4	38.3
Profits Interest And Other
Long-term incentive compensation expense
Total long-term incentive compensation	16.2		0.7
Long-term incentive compensation benefit		(8.5)
Employee stock options
Long-term incentive compensation expense
Total long-term incentive compensation	$ 0.2	$ 0.4	$ 3.1

LONG-TERM INCENTIVE COMPENSAT64

LONG-TERM INCENTIVE COMPENSATION - AWARDS GRANTED VESTING (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Minimum
Long-Term Incentive Compensation
Vesting period	3 years
Maximum
Long-Term Incentive Compensation
Vesting period	10 years
Long-term incentive awards granted in 2013
Long-Term Incentive Compensation
Vesting period			4 years
Long-term incentive awards granted in 2014
Long-Term Incentive Compensation
Vesting period		4 years
Long-term incentive awards granted in 2015
Long-Term Incentive Compensation
Vesting period	4 years

LONG-TERM INCENTIVE COMPENSAT65

LONG-TERM INCENTIVE COMPENSATION - UNRECOGNIZED COMPENSATION (Details) - USD ($) $ in Millions	2 Months Ended	12 Months Ended
	Feb. 24, 2016	Dec. 31, 2015
Long-Term Incentive Compensation
Unrecognized compensation		$ 194
Weighted-average years		4 years 8 months 12 days
Restricted Stock Awards
Long-Term Incentive Compensation
Unrecognized compensation		$ 87
Weighted-average years		3 years 1 month 6 days
Restricted Stock Awards | Intech Investment Management LLC
Long-Term Incentive Compensation
Unrecognized compensation		$ 1.6
Weighted-average years		3 years
Profits Interest And Other
Long-Term Incentive Compensation
Unrecognized compensation		$ 69.2
Weighted-average years		8 years 1 month 6 days
Mutual Fund Share Awards
Long-Term Incentive Compensation
Unrecognized compensation		$ 37.7
Weighted-average years		2 years 4 months 24 days
Employee stock options
Long-Term Incentive Compensation
Unrecognized compensation		$ 0.1
Weighted-average years		10 months 24 days
Long-term incentive awards granted in 2016
Long-Term Incentive Compensation
Unrecognized compensation	$ 66.2
Vesting period	4 years

LONG-TERM INCENTIVE COMPENSAT66

LONG-TERM INCENTIVE COMPENSATION - STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee stock options
Long-Term Incentive Compensation
Dividend yield (as a percent)			2.47%
Expected volatility (as a percent)			64.00%
Risk-free interest rate (as a percent)			0.84%
Expected life			5 years
Shares
Outstanding at January 1	4,641,563	8,985,562	12,773,178
Granted (in shares)			45,455
Exercised (in shares)	(1,276,322)	(808,583)	(1,341,502)
Forfeited (in shares)		(7,179)	(57,218)
Expired (in shares)	(1,430,579)	(3,528,237)	(2,434,351)
Outstanding at December 31	1,934,662	4,641,563	8,985,562
Exercisable (in shares)	1,874,055	3,295,557	3,215,356
Vested or expected to vest (in shares)	1,934,662	4,641,563	8,984,974
Weighted average fair value of options granted during the year (in dollars per share)			$ 4.40
Weighted average exercise price (in dollars per share)
Outstanding at the beginning of the year (in dollars per share)	$ 13.84	$ 14.91	14.56
Granted (in dollars per share)			9.77
Exercised (in dollars per share)	7.62	9.18	5.32
Forfeited (in dollars per share)		10.60	11.78
Expired (in dollars per share)	25.74	17.65	18.33
Outstanding at the end of the year (in dollars per share)	9.13	13.84	14.91
Exercisable (in dollars per share)	9.14	8.89	7.80
Vested or expected to vest (in dollars per share)	$ 9.13	$ 13.84	$ 14.91
Intrinsic value of options:
Exercised	$ 12	$ 3.3	$ 5.1
Outstanding	9.6	20.1	15.5
Exercisable	$ 9.3	23.9	14.7
Number of exercisable stock options that is fully vested but the exercise price is above the closing price		$ 1.2	$ 5.2
Stock options granted prior to February 2006
Long-Term Incentive Compensation
Maximum contractual term	10 years
Stock options granted after February 2006
Long-Term Incentive Compensation
Maximum contractual term	7 years

LONG-TERM INCENTIVE COMPENSAT67

LONG-TERM INCENTIVE COMPENSATION - OTHER AWARDS (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 24, 2015	Feb. 13, 2015	Dec. 31, 2014	Oct. 23, 2014	Dec. 31, 2013	Nov. 18, 2013	Apr. 26, 2012	Feb. 28, 2015	Oct. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Feb. 01, 2016	Apr. 29, 2010	May. 10, 2005
Minimum
INTECH Long-Term Incentive Awards
Vesting period										3 years
Maximum
INTECH Long-Term Incentive Awards
Vesting period										10 years
Long-Term Incentive Stock Plan 2005
Long-Term Incentive Stock Plans
Equity-based awards authorized, including stock options and restricted stock (in shares)																	15,000,000
Long-Term Incentive Stock Plan 2010
Long-Term Incentive Stock Plans
Equity-based awards authorized, including stock options and restricted stock (in shares)																4,400,000
Increase in the number of shares available for grant	11,000,000						9,000,000
Equity-based awards available for grant under the plan (in shares)	24,400,000														7,800,000
EIA Plan
Long-Term Incentive Stock Plans
Equity-based awards available for grant under the plan (in shares)										800,000
Employee stock options
Range of exercise prices
Number outstanding (in shares)			4,641,563		8,985,562					1,934,662	4,641,563	8,985,562	12,773,178
Weighted-average exercise price, outstanding (in dollars per share)			$ 13.84		$ 14.91					$ 9.13	$ 13.84	$ 14.91	$ 14.56
Number exercisable (in shares)			3,295,557		3,215,356					1,874,055	3,295,557	3,215,356
Weighted-Average Exercise Price, Exercisable (in dollars per share)			$ 8.89		$ 7.80					$ 9.14	$ 8.89	$ 7.80
INTECH Long-Term Incentive Awards
Dividend yield (as a percent)												2.47%
Expected volatility (as a percent)												64.00%
Risk-free interest rate (as a percent)												0.84%
Expected life												5 years
Number of exercisable stock options that is fully vested but the exercise price is above the closing price			$ 1.2		$ 5.2						$ 1.2	$ 5.2
Employee stock options | Perkins Investment Management LLC | Senior profits interests awards granted on January, 2014
Perkins Senior Profits Interests Awards
Liability associated with senior profits interests awards			$ 0							$ 0	$ 0
Employee stock options | Long-Term Incentive Stock Plan 2005
Long-Term Incentive Stock Plans
Equity-based awards available for grant under the plan (in shares)															3,300,000
Restricted Stock Awards
Summary of unvested restricted stock awards
Unvested at January 1										7,800,654	5,838,290	4,656,396
Granted (in shares)										3,081,054	4,361,560	3,614,397
Vested (in shares)										(2,479,700)	(1,884,731)	(2,100,456)
Forfeited (in shares)										(197,640)	(514,465)	(332,047)
Unvested at December 31			7,800,654		5,838,290					8,204,368	7,800,654	5,838,290	4,656,396
Weighted-average grant date fair value
Balance at the beginning of the year (in dollars per share)										$ 11.11	$ 9.71	$ 9.55
Granted (in dollars per share)										17.63	12.45	9.61
Vested (in dollars per share)										10.45	10.08	9.07
Forfeited (in dollars per share)										12.94	10.20	10.51
Balance at the end of the year (in dollars per share)			$ 11.11		$ 9.71					$ 13.73	$ 11.11	$ 9.71	$ 9.55
Total fair value of restricted stock vested										$ 42	$ 21.6	$ 20
Price-Vesting Units
Number of price-vesting units granted										3,081,054	4,361,560	3,614,397
INTECH Long-Term Incentive Awards
Number of price-vesting units granted										3,081,054	4,361,560	3,614,397
Weighted average price per share (in dollars per share)										$ 17.63	$ 12.45	$ 9.61
Restricted Stock Awards | Long-Term Incentive Stock Plan 2005
Long-Term Incentive Stock Plans
Equity-based awards available for grant under the plan (in shares)															100,000
Mutual Fund Share Awards
Price-Vesting Units
Awards granted (in dollars)										$ 23.2	$ 22.7	$ 38.1
Mutual Fund Share Awards
Long-term incentive awards granted										23.2	$ 22.7	38.1
Cost basis of unvested awards under the plan										58.9
Total fair value										$ 63.6
Performance-based mutual fund share awards
Price-Vesting Units
Awards granted (in dollars)												16
Mutual Fund Share Awards
Long-term incentive awards granted												$ 16
INTECH Long-Term Incentive Awards
Vesting period												5 years
Price-Vesting Units | Chief Executive Officer
Summary of unvested restricted stock awards
Granted (in shares)			76,682		89,933					138,901				249,100
Price-Vesting Units
Number of price-vesting units granted			76,682		89,933					138,901				249,100
Awards granted (in dollars)			$ 2.2		$ 1.2					$ 1.9				$ 1.2
Number of consecutive trading days at which Company's common stock must close at or above the prescribed price														20 days
Operating profit margin performance period					3 years					3 years
Mutual Fund Share Awards
Long-term incentive awards granted			$ 2.2		$ 1.2					$ 1.9				$ 1.2
INTECH Long-Term Incentive Awards
Vesting period			3 years											4 years
Number of price-vesting units granted			76,682		89,933					138,901				249,100
Price-Vesting Units | Chief Executive Officer | Operating margin performance less than or equal to 27%
Price-Vesting Units
Percentage of vested shares					0.00%
Price-Vesting Units | Chief Executive Officer | Operating margin performance equal to 31%
Price-Vesting Units
Operating profit margin performance (as a percent)					31.00%
Percentage of vested shares					100.00%
Price-Vesting Units | Chief Executive Officer | Operating margin performance greater than or equal to 35%
Price-Vesting Units
Percentage of vested shares					200.00%
Price-Vesting Units | Chief Executive Officer | Operating margin performance less than or equal to 24%
Price-Vesting Units
Percentage of vested shares			0.00%
Price-Vesting Units | Chief Executive Officer | Operating margin performance equal to 28%
Price-Vesting Units
Operating profit margin performance (as a percent)			28.00%
Percentage of vested shares			100.00%
Price-Vesting Units | Chief Executive Officer | Operating margin performance greater than or equal to 32%
Price-Vesting Units
Percentage of vested shares			200.00%
Price-Vesting Units | Chief Executive Officer | Minimum | Operating margin performance greater than or equal to 35%
Price-Vesting Units
Operating profit margin performance (as a percent)					35.00%
Price-Vesting Units | Chief Executive Officer | Minimum | Operating margin performance greater than or equal to 32%
Price-Vesting Units
Operating profit margin performance (as a percent)			32.00%
Price-Vesting Units | Chief Executive Officer | Maximum | Operating margin performance less than or equal to 27%
Price-Vesting Units
Operating profit margin performance (as a percent)					27.00%
Price-Vesting Units | Chief Executive Officer | Maximum | Operating margin performance less than or equal to 24%
Price-Vesting Units
Operating profit margin performance (as a percent)			24.00%
Tranche One | Chief Executive Officer
Summary of unvested restricted stock awards
Vested (in shares)										(29,400)	(29,400)	(29,400)	(29,400)
Price-Vesting Units
Awards granted (in dollars)														$ 0.6
Percentage premium of price hurdle over the closing price of the Company's closing common stock price on the date of grant														27.00%
Closing price of the Company's common stock on date of grant (in dollars per share)														$ 6.31
Mutual Fund Share Awards
Long-term incentive awards granted														$ 0.6
Tranche Two | Chief Executive Officer
Summary of unvested restricted stock awards
Vested (in shares)										(32,875)	(32,875)	(65,750)
Price-Vesting Units
Awards granted (in dollars)														$ 0.6
Percentage premium of price hurdle over the closing price of the Company's closing common stock price on the date of grant														58.00%
Mutual Fund Share Awards
Long-term incentive awards granted														$ 0.6
Profit Interests | Perkins Investment Management LLC | Senior profits interests awards granted on December, 2008
Perkins Senior Profits Interests Awards
Percentage of annual taxable income to which senior profit interest awards are entitled in 2015 (as a percent)										5.00%
Cash payment of senior profit incentive awards		$ 5.9
Profit Interests | Perkins Investment Management LLC | Senior profits interests awards granted on November 18, 2013
Perkins Senior Profits Interests Awards
Liability associated with senior profits interests awards										$ 0
Percentage of Annual Taxable Income to which Senior Profit Interest Awards are Entitled						10.00%
Percentage of annual taxable income to which senior profit interest awards are entitled in 2015 (as a percent)						2.00%
Percentage of increase in annual taxable income to which senior profit interest awards are entitled thereafter until reaching the maximum of 10% (as a percent)						2.00%
Formula driven value										$ 0
Appreciation Rights | Intech Investment Management LLC
INTECH Long-Term Incentive Awards
Dividend yield (as a percent)								2.56%	1.98%
Expected volatility (as a percent)								30.00%	34.00%
Vesting period								4 years	10 years
Risk-free interest rate (as a percent)								1.81%	2.53%
Expected life								6 years	12 years
Percent of rights exercised				20.00%				25.00%
Number of years the rights are expected to be exercised				5 years				4 years
Long-Term Incentive Stock Plans
Long-term incentive awards granted								$ 2	$ 23.2
Profits Interests | Intech Investment Management LLC
INTECH Long-Term Incentive Awards
Vesting period				10 years
Maximum period for which distribution are made under profits interests post employment				10 years
Phantom Interests | Intech Investment Management LLC
INTECH Long-Term Incentive Awards
Vesting period				5 years
Profits Interest and Phantom Interests | Intech Investment Management LLC
INTECH Long-Term Incentive Awards
Percentage of equity-like stake in pre-incentive profits									9.10%	9.20%
Discount rate				2.00%
Undiscounted estimated post-employment payments										$ 54.1
Profits Interest and Phantom Interests | Intech Investment Management LLC | Minimum
INTECH Long-Term Incentive Awards
Expected life										10 years
Profits Interest and Phantom Interests | Intech Investment Management LLC | Maximum
INTECH Long-Term Incentive Awards
Expected life										20 years
$5 to $10 | Employee stock options
Range of exercise prices
Exercise price, low end of range (in dollars per share)										$ 5
Exercise price, high end of range (in dollars per share)										$ 10
Number outstanding (in shares)										900,462
Weighted-average remaining contractual life, outstanding										9 months 15 days
Weighted-average exercise price, outstanding (in dollars per share)										$ 6.09
Number exercisable (in shares)										839,855
Weighted average remaining contractual life, exercisable										7 months 6 days
Weighted-Average Exercise Price, Exercisable (in dollars per share)										$ 5.88
$10 to $15 | Employee stock options
Range of exercise prices
Exercise price, low end of range (in dollars per share)										10
Exercise price, high end of range (in dollars per share)										$ 15
Number outstanding (in shares)										1,034,200
Weighted-average remaining contractual life, outstanding										1 year 1 month 6 days
Weighted-average exercise price, outstanding (in dollars per share)										$ 11.78
Number exercisable (in shares)										1,034,200
Weighted average remaining contractual life, exercisable										1 year 1 month 6 days
Weighted-Average Exercise Price, Exercisable (in dollars per share)										$ 11.78
$5 to $15 | Employee stock options
Range of exercise prices
Exercise price, low end of range (in dollars per share)										5
Exercise price, high end of range (in dollars per share)										$ 15
Number outstanding (in shares)										1,934,662
Weighted-average remaining contractual life, outstanding										11 months 16 days
Weighted-average exercise price, outstanding (in dollars per share)										$ 9.13
Number exercisable (in shares)										1,874,055
Weighted average remaining contractual life, exercisable										10 months 17 days
Weighted-Average Exercise Price, Exercisable (in dollars per share)										$ 9.14

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	Jan. 01, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee benefit plans
Contributions to ESOP and profit-sharing plans		$ 0	$ 0	$ 0
Profit sharing contributions, vesting period		5 years
Expenses related to 401(k) plan		$ 6.8	6.3	$ 4.7
Deferred compensation arrangements
Fair value of investments related to deferred compensation plans		$ 16.3	$ 13
Maximum
Employee benefit plans
Employer matching contribution per calendar year (as a percent of compensation)	4.50%	4.00%	4.00%	3.00%

ACCUMULATED OTHER COMPREHENSI69

ACCUMULATED OTHER COMPREHENSIVE LOSS - AOCL (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	$ 1,540.8
Amounts reclassified from accumulated other comprehensive loss to:
Other income (expense), net	3.2	$ 3	$ 4.5
Total other comprehensive (loss), net of tax	(7.5)	(0.3)	(1.7)
Ending balance	1,582.7	1,540.8
Accumulated Other Comprehensive Loss
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	(1.4)	(1.1)
Other comprehensive income (loss) before reclassifications	(6.5)	1.9
Amounts reclassified from accumulated other comprehensive loss to:
Investment gains (losses), net	(1)	(2.2)
Total other comprehensive (loss), net of tax	(7.5)	(0.3)
Ending balance	(8.9)	(1.4)	(1.1)
Available for sale securities
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	0.9	1.2
Other comprehensive income (loss) before reclassifications	(2.2)	1.9
Amounts reclassified from accumulated other comprehensive loss to:
Investment gains (losses), net	(1)	(2.2)
Total other comprehensive (loss), net of tax	(3.2)	(0.3)
Ending balance	(2.3)	0.9	1.2
Foreign currency translation adjustments
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	(2.3)	(2.3)
Other comprehensive income (loss) before reclassifications	(4.3)
Amounts reclassified from accumulated other comprehensive loss to:
Total other comprehensive (loss), net of tax	(4.3)
Ending balance	$ (6.6)	$ (2.3)	$ (2.3)

ACCUMULATED OTHER COMPREHENSI70

ACCUMULATED OTHER COMPREHENSIVE LOSS - OCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other comprehensive income, net of tax
Net amount	$ 1	$ 2.2	$ 1.8
Net amount	(11.6)	(0.3)	(1.7)
Available for sale securities
Other comprehensive income, net of tax
Pre-tax amount	(3.6)	3	0.2
Tax (expense) benefit	1.4	(1.1)	(0.1)
Net amount	(2.2)	1.9	0.1
Reclassification For Items Included In Net Income
Other comprehensive income, net of tax
Pre-tax amount	(1.6)	(3.5)	(2.9)
Tax (expense) benefit	0.6	1.3	1.1
Net amount	(1)	(2.2)	(1.8)
Foreign currency translation adjustments
Other comprehensive income, net of tax
Pre-tax amount	(4.3)
Net amount	(4.3)
Accumulated Other Comprehensive Loss
Other comprehensive income, net of tax
Pre-tax amount	(9.5)	(0.5)	(2.7)
Tax (expense) benefit	2	0.2	1
Net amount	$ (7.5)	$ (0.3)	$ (1.7)

EARNINGS AND DIVIDENDS PER SH71

EARNINGS AND DIVIDENDS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Jan. 19, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings per share
Net income attributable to JCG											$ 155.8	$ 154.4	$ 114.7
Less: Allocation of earnings to participating restricted stock awards											5.5	5.1
Net income available to common shareholders											$ 150.3	$ 149.3	$ 114.7
Weighted-average common shares outstanding - basic											179.7	182.2	184.6
Diluted effect of:
2018 Convertible Notes											3.7	1.5
Stock warrants											2.5
Stock options, restricted stock and other											0.9	1.2	1.3
Weighted-average diluted common shares outstanding - diluted											186.8	184.9	185.9
Earnings per share:
Basic earnings per share (in dollars per share)		$ 0.25	$ 0.11	$ 0.24	$ 0.24	$ 0.25	$ 0.22	$ 0.19	$ 0.16		$ 0.84	$ 0.82	$ 0.62
Diluted earnings per share (in dollars per share)		0.25	$ 0.10	$ 0.23	$ 0.23	$ 0.24	$ 0.22	$ 0.19	$ 0.16		0.80	0.81	0.62
Dividends paid per share		$ 0.09								$ 0.07	$ 0.35	$ 0.31	$ 0.21
Cash dividend declared (in dollars per share)	$ 0.09
Employee stock options
Anti-dilutive securities that have not been included in the calculation of weighted average diluted shares outstanding
Number of anti-dilutive securities that have not been included in the calculation of weighted average diluted shares outstanding												1.5	7
Unvested nonparticipating restricted stock and price-vesting units.
Anti-dilutive securities that have not been included in the calculation of weighted average diluted shares outstanding
Number of anti-dilutive securities that have not been included in the calculation of weighted average diluted shares outstanding											0.2	0.4	1.2

COMMITMENTS AND CONTINGENCIES72

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Future minimum rental commitments under non-cancelable operating and capital leases
2,016	$ 18.7
2,017	17.5
2,018	16
2,019	12.8
2,020	11.1
Thereafter	42.6
Total	118.7
Rent expense	17.9	$ 17	$ 16.5
Carrying value of obligations	$ 5.6	$ 0.8

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Dai-ichi Life
Related party transaction
Investment management, performance and shareowner servicing fees	$ 19.4	$ 14.7	$ 8.9
Registered Investment Companies
Related party transaction
Investment management, performance and shareowner servicing fees	862.1	762.1	696.9
12b-1 plan fees earned	6.6	5	6.3
Accounts receivable from registered investment companies	$ 81	$ 76.9	$ 59.3

GEOGRAPHIC INFORMATION (Details

GEOGRAPHIC INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Revenues	$ 267.8	$ 273.8	$ 271.9	$ 262.7	$ 254.8	$ 237	$ 231.2	$ 230.2	$ 1,076.2	$ 953.2	$ 873.9
Long-lived assets:
Long-lived assets	1,920.6				1,741.1				1,920.6	1,741.1	1,715.6
U.S.
Revenues:
Revenues									909.1	827.7	768.6
Long-lived assets:
Long-lived assets	1,742.2				1,736.5				1,742.2	1,736.5	1,710.8
International
Revenues:
Revenues									167.1	125.5	105.3
Long-lived assets:
Long-lived assets	$ 178.4				$ 4.6				$ 178.4	$ 4.6	$ 4.8

SELECTED QUARTERLY FINANCIAL 75

SELECTED QUARTERLY FINANCIAL DATA (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SELECTED QUARTERLY FINANCIAL DATA
Total revenue	$ 267.8	$ 273.8	$ 271.9	$ 262.7	$ 254.8	$ 237	$ 231.2	$ 230.2	$ 1,076.2	$ 953.2	$ 873.9
Operating income	80.8	83.4	82.1	76	80.5	71.6	70.7	66.9	322.3	289.7	239.1
Net income	48.3	19.9	44.9	46.2	46.8	40.6	36.9	31.1	159.3	155.4	122.2
Noncontrolling interests	(1.7)		(0.2)	(1.6)	(0.1)	0.3	(0.6)	(0.6)	(3.5)	(1)	$ (7.5)
Net income attributable to JCG	$ 46.6	$ 19.9	$ 44.7	$ 44.6	$ 46.7	$ 40.9	$ 36.3	$ 30.5	$ 155.8	$ 154.4
Basic earnings per share attributable to JCG common shareholders (in dollars per share)	$ 0.25	$ 0.11	$ 0.24	$ 0.24	$ 0.25	$ 0.22	$ 0.19	$ 0.16	$ 0.84	$ 0.82	$ 0.62
Diluted earnings per share attributable to JCG common shareholders (in dollars per share)	$ 0.25	$ 0.10	$ 0.23	$ 0.23	$ 0.24	$ 0.22	$ 0.19	$ 0.16	$ 0.80	$ 0.81	$ 0.62