Janus Capital (JNS) 10-Q 22 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 16, 2015
Document and Entity Information
Entity Registrant Name	JANUS CAPITAL GROUP INC
Entity Central Index Key	1,065,865
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		184,745,085
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 292.4	$ 452.5
Investment securities	357.3	344
Accounts receivable	134.5	130.9
Other current assets	84.3	59.8
Total current assets	868.5	987.2
Other assets:
Property and equipment, net	35.5	31.1
Intangible assets, net	1,354.6	1,257.4
Goodwill	592.4	509.7
Other non-current assets	6.7	7.8
Total assets	2,857.7	2,793.2
Current liabilities:
Accounts payable	6.3	8.8
Accrued compensation and benefits	114.1	142.8
Current portion of long-term debt	108.2
Other accrued liabilities	63.1	78
Total current liabilities	291.7	229.6
Other liabilities:
Long-term debt	297.1	450.5
Deferred income taxes, net	523.7	478.4
Other non-current liabilities	55.3	41.2
Total liabilities	$ 1,167.8	$ 1,199.7
Commitments and contingencies (See Note 15)
Redeemable noncontrolling interests	$ 36.3	$ 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; 185,160,785 and 185,153,490 shares outstanding, respectively)	$ 1.9	$ 1.9
Retained earnings	1,578.2	1,540.3
Accumulated other comprehensive loss, net of tax	(11.5)	(1.4)
Total JCG stockholders' equity	1,568.6	1,540.8
Noncontrolling interests	85	47.3
Total equity	1,653.6	1,588.1
Total liabilities, redeemable noncontrolling interests and equity	$ 2,857.7	$ 2,793.2

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
CONDENSED 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 outstanding	185,160,785	185,153,490

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Investment management fees	$ 231	$ 213.3	$ 687.3	$ 632
Performance fees	(1.2)	(14)	(7.9)	(47.2)
Shareowner servicing fees and other	44	37.7	129	113.6
Total revenue	273.8	237	808.4	698.4
Operating expenses:
Employee compensation and benefits	85.9	82.2	268.5	240.5
Long-term incentive compensation	17.6	11.6	57.5	36.1
Marketing and advertising	4.9	4.1	16.1	13.6
Distribution	36.8	33.2	105.7	98.5
Depreciation and amortization	9	6.2	24	19
General, administrative and occupancy	36.2	28.1	95.1	81.5
Total operating expenses	190.4	165.4	566.9	489.2
Operating Income	83.4	71.6	241.5	209.2
Interest expense	(8)	(7.6)	(22.5)	(25.9)
Investment gains (losses), net	(7.2)	1.3	(5.9)	1.1
Loss on extinguishment of debt	(36.3)		(36.3)
Other income (expense), net	1.2	(1.1)	(1.1)	(0.1)
Income before taxes	33.1	64.2	175.7	184.3
Income tax provision	(13.2)	(23.6)	(64.7)	(75.7)
Net income	19.9	40.6	111	108.6
Noncontrolling interests		0.3	(1.8)	(0.9)
Net income attributable to JCG	$ 19.9	$ 40.9	$ 109.2	$ 107.7
Earnings per share attributable to JCG common shareholders:
Basic (in dollars per share)	$ 0.11	$ 0.22	$ 0.58	$ 0.57
Diluted (in dollars per share)	0.10	0.22	0.56	0.57
Dividends paid (per share)	$ 0.09	$ 0.08	$ 0.26	$ 0.23
Other comprehensive loss, net of tax:
Net unrealized gain (loss) on available-for-sale securities	$ (1.9)		$ (2.6)	$ 2.3
Foreign currency translation loss	(7.5)		(7.5)
Reclassification for items included in net income		$ (1.8)		(2.3)
Total other comprehensive loss, net of tax	(9.4)	(1.8)	(10.1)
Comprehensive income	10.5	38.8	100.9	108.6
Comprehensive income attributable to noncontrolling interests		0.3	(1.8)	(0.9)
Comprehensive income attributable to JCG	$ 10.5	$ 39.1	$ 99.1	$ 107.7

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities:
Net income	$ 111	$ 108.6
Adjustments to reconcile net income to net cash used for operating activities:
Depreciation and amortization	24	19
Deferred income taxes	30.6	29.2
Amortization of stock-based compensation	39.3	11.7
Investment (gains) losses, net	5.9	(1.1)
Amortization of debt discounts, premiums and deferred issuance costs	3.2	7
Payment of deferred commissions, net	(9)	(4.5)
Loss on extinguishment of debt	36.3
Other, net	4.8	0.2
Changes in working capital items:
Accounts receivable	3.5	(7.3)
Other current assets	(51)	(29)
Accounts payable and accrued compensation payable	(43)	8
Other current and non-current liabilities	(5.2)	(11.8)
Net operating activities	150.4	130
Investing activities:
Purchase of property and equipment	(7.7)	(7.5)
Purchases and settlements of investment securities	(77.2)	(159.4)
Proceeds from sales, settlements and maturities of investment securities	42.4	331.5
Acquisition of Kapstream, net of cash acquired of $7.3 million	(81.4)
Net investing activities	(123.9)	164.6
Financing activities:
Repayment of long-term debt	(380.3)	(98.9)
Proceeds from the issuance of debt	297.1
Debt issuance costs	(2.6)
Purchase of noncontrolling interests	(0.4)	(1.5)
Distributions to noncontrolling interests	(1.7)	(1.6)
Proceeds from stock option exercises and employee stock purchases	8.2	3.7
Excess tax benefit from equity-based compensation	7.7	1
Principal payments under capital lease obligations	(0.6)	(1)
Repurchase of common stock	(60.7)	(62.2)
Dividends paid to JCG shareholders	(48.6)	(43.6)
Net financing activities	(181.9)	(204.1)
Cash and cash equivalents:
Effect of foreign exchange rate changes	(4.7)	(0.1)
Net change	(160.1)	90.4
At beginning of year	452.5	344.5
At end of year	292.4	434.9
Supplemental cash flow information:
Cash paid for interest	17.2	15.6
Cash paid for income taxes, net of refunds	$ 77.5	$ 74.1

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Cash acquired from acquisition	$ 7.3

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Nonredeemable Noncontrolling Interest	Total
Balance at Dec. 31, 2013	$ 1.9	$ 1,496	$ (1.1)	$ 13.7	$ 1,510.5
Balance (in shares) at Dec. 31, 2013	188,600,000
Increase (Decrease) in Stockholders' Equity
Net income		107.7		0.7	108.4
Amortization of stock-based compensation		20.1		1.2	21.3
Issuance and forfeitures of restricted stock awards, net (in shares)	2,600,000
Stock option exercises and employee stock purchases		3.7			3.7
Stock option exercises and employee stock purchases (in shares)	500,000
Changes in noncontrolling interests in consolidated investment products				30	30
Distributions to noncontrolling interests				(0.9)	(0.9)
Change in fair value of redeemable noncontrolling interests		1.6			1.6
Purchase of noncontrolling interests				(0.9)	(0.9)
Repurchase of common stock		(62.2)			(62.2)
Repurchase of common stock (in shares)	(5,300,000)
Dividends paid to JCG shareholders		(43.6)			(43.6)
Balance at Sep. 30, 2014	$ 1.9	1,523.3	(1.1)	43.8	1,567.9
Balance (in shares) at Sep. 30, 2014	186,400,000
Balance at Dec. 31, 2014	$ 1.9	1,540.3	(1.4)	47.3	$ 1,588.1
Balance (in shares) at Dec. 31, 2014	185,200,000				185,153,490
Increase (Decrease) in Stockholders' Equity
Net income		109.2		1.6	$ 110.8
Other comprehensive loss			(10.1)	(7.3)	(17.4)
Amortization of stock-based compensation		26.9		0.8	27.7
Amortization of INTECH appreciation rights				(0.6)	(0.6)
Issuance and forfeitures of restricted stock awards, net (in shares)	2,700,000
Stock option exercises and employee stock purchases		8.2			8.2
Stock option exercises and employee stock purchases (in shares)	1,000,000
Tax impact of stock-based compensation		2.6			2.6
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		0.3			0.3
Purchase of noncontrolling interests				(0.4)	(0.4)
Repurchase of common stock		(60.7)			(60.7)
Repurchase of common stock (in shares)	(3,700,000)
Dividends paid to JCG shareholders		(48.6)			(48.6)
Balance at Sep. 30, 2015	$ 1.9	$ 1,578.2	$ (11.5)	$ 85	$ 1,653.6
Balance (in shares) at Sep. 30, 2015	185,200,000				185,160,785

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
BASIS OF PRESENTATION
BASIS OF PRESENTATION	Note 1 — Basis of Presentation In the opinion of Janus Capital Group Inc. (collectively, “JCG” or “the Company”) management, the accompanying interim condensed consolidated financial statements contain all adjustments necessary to fairly present the financial position, results of operations and cash flows of JCG in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All such adjustments are of a normal recurring nature. Such interim condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying condensed consolidated financial statements through the issuance date, and the Company has determined that there were no subsequent events that require disclosure. These interim condensed consolidated financial statements should be read in conjunction with JCG’s Annual Report on Form 10-K for the year ended December 31, 2014. The accompanying interim condensed consolidated financial statements have been prepared on a consistent basis with the accounting policies described in Note 2 to the consolidated financial statements that are presented in JCG’s Annual Report on Form 10-K for the year ended December 31, 2014. 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 is evaluating the effect of adopting this new accounting standard. 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 September 30, 2015, the Company had approximately $4.1 million of debt issuance costs in other current and other non-current assets on its Condensed Consolidated Balance Sheets that meet the criteria of this amendment.

ACQUISITION OF KAPSTREAM

ACQUISITION OF KAPSTREAM	9 Months Ended
	Sep. 30, 2015
ACQUISITION OF KAPSTREAM
ACQUISITION OF KAPSTREAM	Note 2 — Acquisition of Kapstream On July 1, 2015, JCG announced and closed the acquisition of a controlling 51% voting interest in Kapstream Capital Pty Limited (“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 an 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. At September 30, 2015, the contingent consideration had a fair value of $5.6 million. 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 Condensed 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. The total purchase price was allocated as follows (in millions): 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 Condensed 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 on the Company’s Condensed Consolidated Statements of Comprehensive Income. JCG recognized a foreign currency translation loss of $7.5 million for the three months ended September 30, 2015, related to the translation of Kapstream financial statements.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2015
INVESTMENT SECURITIES
INVESTMENT SECURITIES	Note 3 — Investment Securities JCG’s investment securities as of September 30, 2015, and December 31, 2014, are summarized as follows (in millions): September 30, December 31, 2015 2014 Trading securities: Seeded investment products $ $ Investments in advised mutual funds Investments related to deferred compensation plans Total trading securities Available-for-sale securities: Seeded investment products Total investment securities $ $ Trading Securities Seeded investment products classified as trading securities consisted of the following as of September 30, 2015, and December 31, 2014: September 30, 2015 December 31, 2014 Fair value (in millions) Number of products Fair value (in millions) Number of products Mutual funds advised by the Company $ $ Separately managed accounts Total seeded investment products classified as trading securities $ $ Gains and (losses) recognized on trading securities still held as of September 30, 2015 and 2014, are summarized as follows (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Gains (losses) on 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 September 30, 2015, and December 31, 2014: September 30, 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 as of September 30, 2015, and December 31, 2014 (in millions): Gross unrealized investment Foreign currency Estimated Carrying Cost Gains Losses translation fair value value September 30, 2015: Seeded investment products $ $ $ ) $ ) $ $ December 31, 2014: 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. The Company considered the duration, extent and circumstances of any decline in fair value 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. No other-than-temporary impairment charges were recognized in the nine months ended September 30, 2015 or 2014. 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 Condensed Consolidated Statements of Comprehensive Income. The following is a summary of realized gains and losses upon disposition of seeded investment products classified as available-for-sale securities for the three and nine months ended September 30, 2015 and 2014 (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Realized gains $ — $ $ — $ Realized losses — — — ) Net realized gains $ — $ $ — $ 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. The use of credit default swaps to hedge credit exposure associated with certain seeded investments was implemented during the third quarter 2015. JCG reassessed its hedging strategy related to foreign currency exposure on certain seeded investments during the third quarter 2015. As such, JCG exited the foreign currency forward positions and was not party to any foreign currency derivatives as of September 30, 2015. JCG was party to the following derivative instruments as of September 30, 2015, and December 31, 2014: September 30, 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 above 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 Condensed Consolidated Statements of Comprehensive Income while changes in the fair value of the foreign currency forward contracts are recognized in other income (expense), net on JCG’s Condensed 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 on JCG’s Condensed 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 Condensed Consolidated Balance Sheets. The Company posted $2.5 million and $1.7 million in cash collateral with the counterparty of the futures and credit default swaps as of September 30, 2015, and December 31, 2014, respectively. The cash collateral is included in other current assets on JCG’s Condensed Consolidated Balance Sheets. The following tables illustrate the effect of offsetting derivative instruments on JCG’s Condensed Consolidated Balance Sheets as of September 30, 2015, and December 31, 2014 (in millions): September 30, 2015 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Futures $ $ ) $ — $ Index swaps — — Total $ $ ) $ — $ Liabilities: Futures $ $ ) $ — $ — Credit default swaps — ) — Total $ $ ) $ ) $ — December 31, 2014 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Index swaps $ $ — $ — $ Liabilities: Index futures $ $ — $ ) $ — JCG recognized the following net gains (losses) on hedged seeded investments and net gains (losses) on associated futures, credit default swaps and index swaps for the three and nine months ended September 30, 2015 and 2014 (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Gains (losses) on hedged seeded investments classified as trading securities(1) $ ) $ ) $ ) $ Gains (losses) on hedged seeded investments classified as available-for-sale securities(1) ) — ) Total gains (losses) on hedged seeded investments ) ) ) Gains (losses) on futures ) ) ) Gains on credit default swaps — — Gains (losses) on 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 losses on hedged seeded investments denominated in a foreign currency and net gains on associated foreign currency forward contracts for the three and nine months ended September 30, 2015 and 2014 (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Foreign currency translation losses $ — $ ) $ ) $ ) Foreign currency forward contract gains — 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 Condensed Consolidated Balance Sheets. Gains and losses on these derivative instruments are classified within investment gains (losses), net on JCG’s Condensed Consolidated Statements of Comprehensive Income. The consolidated seeded investment products posted $5.2 million and $1.8 million in cash collateral with the counterparty of the derivative instruments as of September 30, 2015, and December 31, 2014, respectively. JCG’s consolidated seeded investment products were party to the following derivative instruments as of September 30, 2015 and December 31, 2014: September 30, 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 table illustrates the effect of offsetting derivative instruments within consolidated seeded investment products on JCG’s Condensed Consolidated Balance Sheets as of September 30, 2015 (in millions): September 30, 2015 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Swaps $ $ — $ — $ Futures ) — — Total $ $ ) $ — $ Liabilities: Futures $ $ ) $ — $ Options — — Total $ $ ) $ — $ The following table illustrates the effect of offsetting derivative instruments within consolidated seeded investment products on JCG’s Condensed Consolidated Balance Sheets as of December 31, 2014 (in millions): December 31, 2014 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Swaps $ $ ) $ — $ Futures ) — Options — — Total $ $ ) $ — $ Liabilities: Swaps $ $ ) $ — $ — Futures ) — — Total $ $ ) $ — $ — Investment Gains (Losses), Net Investment gains (losses), net on JCG’s Condensed Consolidated Statements of Comprehensive Income included the following for the three and nine months ended September 30, 2015 and 2014 ( in millions ): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 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 ) ) Investment gains (losses), net $ ) $ $ ) $ Purchases, Sales, Settlements and Maturities Cash flows related to investment securities for the three and nine months ended September 30, 2015 and 2014, are summarized as follows (in millions): Three months ended September 30, 2015 2014 Purchases Sales, Purchases Sales, and settlements and and settlements and settlements maturities settlements maturities Trading securities $ ) $ $ ) $ Available-for-sale securities ) — — Derivative instruments: Seed capital economic hedge ) ) Total cash flows $ ) $ $ ) $ Nine months ended September 30, 2015 2014 Purchases Sales, Purchases Sales, and settlements and and settlements and settlements maturities settlements maturities Trading securities $ ) $ $ ) $ Available-for-sale securities ) — ) Derivative instruments: Seed capital economic hedge ) ) Total cash flows $ ) $ $ ) $

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2015
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	Note 4 — 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 September 30, 2015 (in millions): Fair value measurements using: Quoted prices in active markets for Significant other Significant identical assets observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ $ $ — $ Futures — — Index swaps — — Trading securities: Seeded investment products — Investments in advised mutual funds — — Investments related to deferred compensation plans — — Available-for-sale securities: Seeded investment products — — Total investment securities — Total assets $ $ $ — $ Liabilities: Futures $ $ — $ — $ Credit default swaps — — Current portion of long-term debt(1) — — 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) 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 Significant other Significant identical assets observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ $ $ — $ Index swaps — — Trading securities: Seeded investment products — Investments in advised mutual funds — — Investments related to deferred compensation plans — — Available-for-sale securities: Seeded investment products — — Total investment securities — Total assets $ $ $ — $ Liabilities: Long-term debt(1) $ — $ $ — $ VelocityShares contingent consideration — — Index futures — — Total liabilities $ $ $ $ Redeemable noncontrolling interests in INTECH $ — $ — $ $ (1) Carried at amortized cost and disclosed at fair value. Level 1 Fair Value Measurements JCG’s Level 1 fair value measurements consist mostly 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 seeded investment products classified as trading securities is determined by the underlying securities of the product. The fair value level of equity-method and unconsolidated seeded investment products is determined 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, 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 and certificates of deposits. 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 Investment Management LLC (“INTECH”) and contingent consideration related to the acquisition of VS Holdings Inc., the parent company of VelocityShares, LLC (“VelocityShares”) and Kapstream. INTECH 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 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. The valuation analysis is prepared internally within JCG’s finance organization by personnel with appropriate valuation experience and credentials. In preparing the analysis, JCG benchmarks valuation metrics such as multiples of earnings before interest expense, taxes, depreciation and amortization (“EBITDA”) against current market observables and recent market transactions of a similar size and nature to ensure that the estimates are reasonable. The analysis is reviewed by senior JCG finance personnel and JCG’s Chief Financial Officer. The analysis is also reviewed by the holders of the noncontrolling interests in INTECH. If the valuation is agreed to by both JCG and the holders of noncontrolling interests, JCG uses the analysis to value the redeemable noncontrolling interests. Significant inputs related to the valuation analysis include INTECH’s trailing 12-month operating results, performance fees, investment performance and trends in assets under management. In addition, market trading comparables from a relevant publicly traded peer set are included to complete the valuation process. Publicly available comparables used for the third quarter 2015 valuation analysis ranged from approximately 7.0x to 14.0x EBITDA. Significant increases or decreases in historical INTECH operating results would result in a significantly higher or lower fair value measurement, respectively. Additionally, a significant increase or decrease in market trading comparables would result in a significantly higher or lower fair value measurement, respectively. Generally, any period-over-period change in INTECH performance or level of assets under management in isolation is accompanied by a directionally similar change in the fair value measurement. VelocityShares Contingent consideration was a component of the purchase price of VelocityShares. 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. The payments are contingent on certain VelocityShares’ exchange-traded products reaching defined net revenue targets. The fair value of the contingent consideration is calculated on a quarterly basis by forecasting net exchange-traded product 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 would increase the fair value of the consideration, subject to payment limitations, while decreases in net revenues would decrease the fair value. The contingent consideration was most recently valued during the third quarter 2015 and resulted in a $3.3 million increase to the liability and expense, including the monthly accretion of the liability to the future value of the consideration. Kapstream Contingent consideration was a component of the purchase price of Kapstream. The contingent consideration is payable in Australian dollars at 18 months and 36 months after the acquisition date if certain Kapstream assets under management reach defined targets. The total maximum payment over the entire contingent consideration period is $8.8 million as of September 30, 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 changes in fair value of JCG’s Level 3 items for the three and nine months ended September 30, 2015 and 2014, are as follows (in millions): Three months ended September 30, 2015 2014 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Kapstream contingent consideration Redeemable noncontrolling interests in subsidiaries Beginning of period fair value $ $ $ — $ Distributions ) — — ) Current earnings — — Amortization of INTECH appreciation rights — — — Issuance — — — Foreign currency translation — — ) — Change in fair value ) End of period fair value $ $ $ $ Nine months ended September 30, 2015 2014 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Kapstream contingent consideration Redeemable noncontrolling interests in subsidiaries Beginning of period 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 period fair value $ $ $ $ Nonrecurring Level 3 Fair Value Measurements Nonrecurring Level 3 fair value measurements include goodwill and intangible assets. JCG measures the fair value of goodwill 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. 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 nine months ended September 30, 2015 and 2014, are summarized as follows (in millions): September 30, 2015 2014 Transfers from Level 1 to Level 2 $ $ Transfers from Level 2 to Level 1 $ $

DEBT

DEBT	9 Months Ended
	Sep. 30, 2015
DEBT
DEBT	Note 5 — Debt Debt at September 30, 2015, and December 31, 2014, consisted of the following (in millions): September 30, 2015 December 31, 2014 Carrying Fair Carrying Fair value value value value 4.875% Senior Notes due 2025 $ $ $ — $ — 0.750% Convertible Senior Notes due 2018 6.700% Senior Notes due 2017 — — Total Less: Current portion — — 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 Condensed 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 September 30, 2015, of $2.9 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 redeem the 6.700% Senior Notes due 2017 (“2017 Senior Notes”). 0.750% Convertible Senior Notes due 2018 The initial conversion rate of the 0.750% Convertible Senior Notes due 2018 (“2018 Convertible Notes”) was 92.06 shares of JCG common stock per $1,000 principal amount of the 2018 Convertible Notes, which is 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 third 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 August 21, 2015, the conversion rate changed to 92.55 shares of JCG common stock per $1,000 principal amount of 2018 Convertible Notes, equivalent to a conversion price of approximately $10.80 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 September 30, 2015, the 2018 Convertible Notes met the criteria for early conversion and are convertible during the fourth quarter 2015. 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 Condensed 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 third quarter 2015 when JCG paid a quarterly cash dividend of $0.09 per share. As a result of the quarterly cash dividend paid on August 21, 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 $10.80 per share of common stock, and the exercise price of the warrants changed to $12.53 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 entire principal balance and the present value of the future interest payments of the 2017 Senior Notes. JCG recognized a loss on early extinguishment of debt of $36.3 million during the three months ended September 30, 2015. Credit Facility At September 30, 2015, JCG had a $200 million, unsecured, revolving credit facility (“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 September 30, 2015, JCG was in compliance with all covenants, and there were no borrowings under the Credit Facility at September 30, 2015, or during the nine months ended September 30, 2015. The Credit Facility has a maturity date of November 23, 2018.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
INCOME TAXES
INCOME TAXES	Note 6 — Income Taxes The Company’s effective tax rates for the three and nine months ended September 30, 2015 and 2014, are as follows: Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Effective tax rate % % % % As of September 30, 2015, JCG had $5.7 million of accrued reserves for income tax contingencies. JCG accrued additional reserves for income tax contingencies in the amount of $0.2 million during the third quarter 2015, creating a net tax benefit of $0.1 million. JCG anticipates that its income tax contingency reserves will decrease by approximately $1.4 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 and other non-current liabilities on JCG’s Condensed Consolidated Balance Sheets.

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	9 Months Ended
	Sep. 30, 2015
NONCONTROLLING INTERESTS
NONCONTROLLING INTERESTS	Note 7 — Noncontrolling Interests Noncontrolling interests in net income for the three and nine months ended September 30, 2015 and 2014, consisted of the following (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 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 $ — $ ) $ $ Redeemable Noncontrolling Interests As of September 30, 2015, and December 31, 2014, redeemable noncontrolling interests are summarized as follows (in millions): September 30, 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 three and nine months ended September 30, 2015 and 2014 (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Beginning of period balance $ $ $ $ Changes in market value ) ) ) ) Changes in ownership ) End of period balance $ $ $ $ Changes in ownership during the nine months ended September 30, 2015, represent the deconsolidation of the Global Unconstrained Bond Fund within JCG’s international trust. Third-party investment during the second quarter 2015 brought JCG’s ownership below 50%. INTECH INTECH ownership interests held by a founding member had an estimated fair value of $5.6 million and $5.9 million as of September 30, 2015, and December 31, 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. Nonredeemable Noncontrolling Interests At September 30, 2015, noncontrolling interests not subject to redemption rights included Kapstream ownership interests and employee ownership interests in INTECH. Nonredeemable noncontrolling interests as of September 30, 2015, and December 31, 2014, are summarized as follows (in millions): September 30, 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.

LONG-TERM INCENTIVE COMPENSATIO

LONG-TERM INCENTIVE COMPENSATION	9 Months Ended
	Sep. 30, 2015
LONG-TERM INCENTIVE COMPENSATION
LONG-TERM INCENTIVE COMPENSATION	Note 8 — Long-Term Incentive Compensation JCG generally grants annual long-term incentive awards during the first quarter of each year. JCG granted $0.2 million and $77.5 million in long-term incentive awards during the three and nine months ended September 30, 2015, respectively, which generally vest and will be recognized ratably over a four-year period. The 2015 awards consisted of $52.3 million of restricted stock (2.9 million shares at a weighted-average price of $17.80 per share), $23.2 million of mutual fund share awards and $2.0 million of INTECH long-term incentive awards. During the three and nine months ended September 30, 2015, JCG recognized a benefit of $0.7 million and expense of $1.0 million related to mark-to-market adjustments of mutual fund share awards and deferred compensation plans, and $0.9 million and $3.3 million of expense during the same periods in 2014, respectively. The mark-to-market adjustments impact the long-term incentive compensation line on the Condensed Consolidated Statements of Comprehensive Income. Compensation expense associated with the INTECH appreciation rights, profit interests and phantom interests granted in October 2014 was $4.0 million and $11.3 million for the three and nine months ended September 30, 2015, respectively.

OTHER INCOME (EXPENSE), NET

OTHER INCOME (EXPENSE), NET	9 Months Ended
	Sep. 30, 2015
OTHER INCOME (EXPENSE), NET
OTHER INCOME (EXPENSE), NET	Note 9 — Other Income (Expense), Net The components of other income (expense), net for the three and nine months ended September 30, 2015 and 2014, are as follows (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Dividend income $ $ $ $ Interest income Foreign currency losses, net ) ) ) ) Other, net — — — Total other income (expense), net $ $ ) $ ) $ )

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2015
ACCUMULATED OTHER COMPREHENSIVE LOSS.
ACCUMULATED OTHER COMPREHENSIVE LOSS	Note 10 — Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss, net of tax, for the three and nine months ended September 30, 2015 and 2014, are as follows (in millions): Three months ended September 30, 2015 2014 Available-for-sale Foreign Available-for-sale Foreign securities currency Total securities currency Total Beginning balance $ $ ) $ ) $ $ ) $ Other comprehensive loss before reclassifications ) ) ) — — — Amounts reclassified from accumulated other comprehensive loss to: Investment gains (losses), net — — — ) — ) Net current period other comprehensive loss ) ) ) ) — ) Ending balance $ ) $ ) $ ) $ $ ) $ ) Nine months ended September 30, 2015 2014 Available-for-sale Foreign Available-for-sale Foreign securities currency Total securities currency Total Beginning balance $ $ ) $ ) $ $ ) $ ) Other comprehensive income (loss) before reclassifications ) ) ) — Amounts reclassified from accumulated other comprehensive loss to: Investment gains (losses), net — — — ) — ) Net current period other comprehensive loss ) ) ) — — — Ending balance $ ) $ ) $ ) $ $ ) $ )

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2015
EARNINGS PER SHARE
EARNINGS PER SHARE	Note 11 — Earnings Per Share The following is a summary of the earnings per share calculation for the three and nine months ended September 30, 2015 and 2014 (in millions, except per share data): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Net income attributable to JCG $ $ $ $ Less: Allocation of earnings to participating restricted stock awards Net income attributable to JCG common shareholders $ $ $ $ Basic earnings per share attributable to JCG common shareholders: Weighted-average common shares outstanding Basic earnings per share $ $ $ $ Diluted earnings per share attributable to JCG common shareholders: Weighted-average common shares outstanding Incremental common shares Weighted-average diluted common shares outstanding Diluted earnings per share $ $ $ $ Incremental common shares include the dilutive effect of stock options, unvested nonparticipating restricted stock awards, the 2018 Convertible Notes, warrants and price-vesting units using the two-class method of calculating 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): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Employee stock options — — Unvested nonparticipating restricted stock and price-vesting units — — All shares held in the JCG Employee Stock Ownership Plan are treated as outstanding for purposes of computing basic earnings per share.

LITIGATION AND OTHER REGULATORY

LITIGATION AND OTHER REGULATORY MATTERS	9 Months Ended
	Sep. 30, 2015
LITIGATION AND OTHER REGULATORY MATTERS
LITIGATION AND OTHER REGULATORY MATTERS	Note 12 — 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.

ACQUISITION OF KAPSTREAM (Table

ACQUISITION OF KAPSTREAM (Tables)	9 Months Ended
	Sep. 30, 2015
Kapstream
Schedule of purchase price to the acquired assets	The total purchase price was allocated as follows (in millions): 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 $

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Investment securities	JCG’s investment securities as of September 30, 2015, and December 31, 2014, are summarized as follows (in millions): September 30, December 31, 2015 2014 Trading securities: Seeded investment products $ $ Investments in advised mutual funds Investments related to deferred compensation plans Total trading securities Available-for-sale securities: Seeded investment products Total investment securities $ $
Seeded investment products classified as trading securities	September 30, 2015 December 31, 2014 Fair value (in millions) Number of products Fair value (in millions) Number of products Mutual funds advised by the Company $ $ Separately managed accounts Total seeded investment products classified as trading securities $ $
Schedule of recognized gains and (losses) on trading securities	Gains and (losses) recognized on trading securities still held as of September 30, 2015 and 2014, are summarized as follows (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Gains (losses) on trading securities still held at period end $ ) $ ) $ ) $
Seeded investment products classified as available-for-sale securities	September 30, 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 the amortized cost, gross unrealized gains and losses, and estimated fair value and carrying value classified as available-for-sale securities	The following is a summary of available-for-sale securities as of September 30, 2015, and December 31, 2014 (in millions): Gross unrealized investment Foreign currency Estimated Carrying Cost Gains Losses translation fair value value September 30, 2015: Seeded investment products $ $ $ ) $ ) $ $ December 31, 2014: 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 and losses upon disposition of seeded investment products classified as available-for-sale securities for the three and nine months ended September 30, 2015 and 2014 (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Realized gains $ — $ $ — $ Realized losses — — — ) Net realized gains $ — $ $ — $
Schedule of gross and offsetting amounts for derivative instruments	The following tables illustrate the effect of offsetting derivative instruments on JCG’s Condensed Consolidated Balance Sheets as of September 30, 2015, and December 31, 2014 (in millions): September 30, 2015 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Futures $ $ ) $ — $ Index swaps — — Total $ $ ) $ — $ Liabilities: Futures $ $ ) $ — $ — Credit default swaps — ) — Total $ $ ) $ ) $ — December 31, 2014 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Index swaps $ $ — $ — $ Liabilities: Index futures $ $ — $ ) $ —
Schedule of net gains (losses) in earnings on hedged seed investments and associated futures and index swaps	JCG recognized the following net gains (losses) on hedged seeded investments and net gains (losses) on associated futures, credit default swaps and index swaps for the three and nine months ended September 30, 2015 and 2014 (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Gains (losses) on hedged seeded investments classified as trading securities(1) $ ) $ ) $ ) $ Gains (losses) on hedged seeded investments classified as available-for-sale securities(1) ) — ) Total gains (losses) on hedged seeded investments ) ) ) Gains (losses) on futures ) ) ) Gains on credit default swaps — — Gains (losses) on 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 (losses) gains in earnings on hedged seed investments denominated in a foreign currency and associated foreign currency forward contracts	JCG recognized the following net losses on hedged seeded investments denominated in a foreign currency and net gains on associated foreign currency forward contracts for the three and nine months ended September 30, 2015 and 2014 (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Foreign currency translation losses $ — $ ) $ ) $ ) Foreign currency forward contract gains — Total $ — $ ) $ ) $ )
Schedule of offsetting derivative instruments within consolidated seeded investment products	The following table illustrates the effect of offsetting derivative instruments within consolidated seeded investment products on JCG’s Condensed Consolidated Balance Sheets as of September 30, 2015 (in millions): September 30, 2015 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Swaps $ $ — $ — $ Futures ) — — Total $ $ ) $ — $ Liabilities: Futures $ $ ) $ — $ Options — — Total $ $ ) $ — $ The following table illustrates the effect of offsetting derivative instruments within consolidated seeded investment products on JCG’s Condensed Consolidated Balance Sheets as of December 31, 2014 (in millions): December 31, 2014 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Swaps $ $ ) $ — $ Futures ) — Options — — Total $ $ ) $ — $ Liabilities: Swaps $ $ ) $ — $ — Futures ) — — Total $ $ ) $ — $ —
Schedule of investment gains, net on the Consolidated Statements of Comprehensive Income	Investment gains (losses), net on JCG’s Condensed Consolidated Statements of Comprehensive Income included the following for the three and nine months ended September 30, 2015 and 2014 ( in millions ): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 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 ) ) Investment gains (losses), net $ ) $ $ ) $
Cash flows related to investment securities	Cash flows related to investment securities for the three and nine months ended September 30, 2015 and 2014, are summarized as follows (in millions): Three months ended September 30, 2015 2014 Purchases Sales, Purchases Sales, and settlements and and settlements and settlements maturities settlements maturities Trading securities $ ) $ $ ) $ Available-for-sale securities ) — — Derivative instruments: Seed capital economic hedge ) ) Total cash flows $ ) $ $ ) $ Nine months ended September 30, 2015 2014 Purchases Sales, Purchases Sales, and settlements and and settlements and settlements maturities settlements 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	September 30, 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	September 30, 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 $ $

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
FAIR VALUE MEASUREMENTS
Schedule of assets, liabilities and redeemable noncontrolling interests measured or disclosed 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 September 30, 2015 (in millions): Fair value measurements using: Quoted prices in active markets for Significant other Significant identical assets observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ $ $ — $ Futures — — Index swaps — — Trading securities: Seeded investment products — Investments in advised mutual funds — — Investments related to deferred compensation plans — — Available-for-sale securities: Seeded investment products — — Total investment securities — Total assets $ $ $ — $ Liabilities: Futures $ $ — $ — $ Credit default swaps — — Current portion of long-term debt(1) — — 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) 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 Significant other Significant identical assets observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ $ $ — $ Index swaps — — Trading securities: Seeded investment products — Investments in advised mutual funds — — Investments related to deferred compensation plans — — Available-for-sale securities: Seeded investment products — — Total investment securities — Total assets $ $ $ — $ Liabilities: Long-term debt(1) $ — $ $ — $ VelocityShares contingent consideration — — Index futures — — Total liabilities $ $ $ $ Redeemable noncontrolling interests in INTECH $ — $ — $ $ (1) Carried at amortized cost and disclosed at fair value.
Schedule of changes in fair value of the recurring Level 3 fair value measurement	The changes in fair value of JCG’s Level 3 items for the three and nine months ended September 30, 2015 and 2014, are as follows (in millions): Three months ended September 30, 2015 2014 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Kapstream contingent consideration Redeemable noncontrolling interests in subsidiaries Beginning of period fair value $ $ $ — $ Distributions ) — — ) Current earnings — — Amortization of INTECH appreciation rights — — — Issuance — — — Foreign currency translation — — ) — Change in fair value ) End of period fair value $ $ $ $ Nine months ended September 30, 2015 2014 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Kapstream contingent consideration Redeemable noncontrolling interests in subsidiaries Beginning of period 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 period 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 nine months ended September 30, 2015 and 2014, are summarized as follows (in millions): September 30, 2015 2014 Transfers from Level 1 to Level 2 $ $ Transfers from Level 2 to Level 1 $ $

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2015
DEBT
Components of debt	Debt at September 30, 2015, and December 31, 2014, consisted of the following (in millions): September 30, 2015 December 31, 2014 Carrying Fair Carrying Fair value value value value 4.875% Senior Notes due 2025 $ $ $ — $ — 0.750% Convertible Senior Notes due 2018 6.700% Senior Notes due 2017 — — Total Less: Current portion — — Total long-term debt $ $ $ $

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2015
INCOME TAXES
Schedule of effective income tax rates	Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Effective tax rate % % % %

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	9 Months Ended
	Sep. 30, 2015
NONCONTROLLING INTERESTS
Schedule of noncontrolling interests in net income	Noncontrolling interests in net income for the three and nine months ended September 30, 2015 and 2014, consisted of the following (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 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 redeemable noncontrolling interests	As of September 30, 2015, and December 31, 2014, redeemable noncontrolling interests are summarized as follows (in millions): September 30, 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 redeemable noncontrolling interests in consolidated seed investment products	The following table presents a rollforward of noncontrolling interests in consolidated seeded investment products for the three and nine months ended September 30, 2015 and 2014 (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Beginning of period balance $ $ $ $ Changes in market value ) ) ) ) Changes in ownership ) End of period balance $ $ $ $
Summary of nonredeemable noncontrolling interests	Nonredeemable noncontrolling interests as of September 30, 2015, and December 31, 2014, are summarized as follows (in millions): September 30, December 31, 2015 2014 Nonredeemable noncontrolling interests in: Consolidated seeded investment products $ — $ Kapstream — INTECH Total nonredeemable noncontrolling interests $ $

OTHER INCOME (EXPENSE), NET (Ta

OTHER INCOME (EXPENSE), NET (Tables)	9 Months Ended
	Sep. 30, 2015
OTHER INCOME (EXPENSE), NET
Schedule of components of other income, net	The components of other income (expense), net for the three and nine months ended September 30, 2015 and 2014, are as follows (in millions): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Dividend income $ $ $ $ Interest income Foreign currency losses, net ) ) ) ) Other, net — — — Total other income (expense), net $ $ ) $ ) $ )

ACCUMULATED OTHER COMPREHENSI27

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 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 three and nine months ended September 30, 2015 and 2014, are as follows (in millions): Three months ended September 30, 2015 2014 Available-for-sale Foreign Available-for-sale Foreign securities currency Total securities currency Total Beginning balance $ $ ) $ ) $ $ ) $ Other comprehensive loss before reclassifications ) ) ) — — — Amounts reclassified from accumulated other comprehensive loss to: Investment gains (losses), net — — — ) — ) Net current period other comprehensive loss ) ) ) ) — ) Ending balance $ ) $ ) $ ) $ $ ) $ ) Nine months ended September 30, 2015 2014 Available-for-sale Foreign Available-for-sale Foreign securities currency Total securities currency Total Beginning balance $ $ ) $ ) $ $ ) $ ) Other comprehensive income (loss) before reclassifications ) ) ) — Amounts reclassified from accumulated other comprehensive loss to: Investment gains (losses), net — — — ) — ) Net current period other comprehensive loss ) ) ) — — — Ending balance $ ) $ ) $ ) $ $ ) $ )

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
EARNINGS PER SHARE
Summary of earnings per share calculation	The following is a summary of the earnings per share calculation for the three and nine months ended September 30, 2015 and 2014 (in millions, except per share data): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Net income attributable to JCG $ $ $ $ Less: Allocation of earnings to participating restricted stock awards Net income attributable to JCG common shareholders $ $ $ $ Basic earnings per share attributable to JCG common shareholders: Weighted-average common shares outstanding Basic earnings per share $ $ $ $ Diluted earnings per share attributable to JCG common shareholders: Weighted-average common shares outstanding Incremental common shares Weighted-average diluted common shares outstanding 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): Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Employee stock options — — Unvested nonparticipating restricted stock and price-vesting units — —

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Recent Accounting Pronouncements
Debt issuance costs included in non-current assets	$ 4.1

ACQUISITION OF KAPSTREAM (Detai

ACQUISITION OF KAPSTREAM (Details) - USD ($) $ in Millions	Jul. 01, 2015	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Assets:
Goodwill		$ 592.4		$ 592.4	$ 509.7
Liabilities:
Foreign currency translation loss		(7.5)		(7.5)
Kapstream
Acquisition of Kapstream
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
Issuance	$ 6	5.6		5.6
Contingent consideration payable period, low	18 months
Contingent consideration payable period, high end	36 months
Fair value of contingent consideration	$ 6	5.6		$ 5.6
Assets:
Cash and cash equivalents	7.3
Investment securities	4.4
Accounts receivable	4.6
Intangible assets	114.7
Goodwill	90.1
Other current assets	3.1
Other non-current assets, net	0.1
Liabilities:
Contingent consideration	(6)
Deferred income taxes	(34.4)
Other accrued liabilities	(10.2)
Noncontrolling interests	(85.7)
Net assets acquired	88
Kapstream | Other comprehensive loss
Liabilities:
Foreign currency translation loss		$ 7.5
Kapstream | General Administrative and Occupancy Expense
Acquisition of Kapstream
Bank advisory fees and other deal costs			$ 2.1
Kapstream | Distribution rights
Acquisition of Kapstream
Initial upfront cash consideration	$ 3.9
Kapstream | Client relationships
Liabilities:
Estimated useful life	10 years
Amortization period	10 years

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)contractinstrumentitem	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)contractinstrumentitem	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)contractinstrumentitem
Short-term investments:
Estimated Fair Value	$ 357.3		$ 357.3		$ 344
Available-for-sale securities.
Gross amounts	0.5		0.5
Net gains (losses):
Total	(1)	$ (1.2)	(0.8)	$ (0.7)
Net gains (losses) in net income related to:
Foreign currency translation losses		(0.7)	(0.4)	(1.7)
Foreign currency forward contract gains		0.4	0.2	1.2
Total		(0.3)	(0.2)	(0.5)
Investment gains (losses), net	(7.2)	1.3	(5.9)	1.1
Cash flows related to investment securities
Purchases and settlements	(15.3)	(109.6)	(77.2)	(159.4)
Sales, settlements and maturities	12	109.5	42.4	331.5
Seeded Investment Products
Available-for-sale securities.
Gross amounts	1.8		1.8		2.2
Net gains (losses):
Total hedged seed investments	(7.7)	(2.1)	(6.4)	7.6
Net gains (losses) in net income related to:
Investment gains (losses), net	(11.5)	1	(10.4)	8.9
Seeded investment products
Net gains (losses) in net income related to:
Investment gains (losses), net	(1.2)	(0.6)	(0.2)	(0.2)
Investments in advised funds
Net gains (losses) in net income related to:
Investment gains (losses), net	(0.5)	(0.1)	(0.4)	(0.1)
Index Swaps, Credit default Swaps and Futures Contract
Net gains (losses) in net income related to:
Investment gains (losses), net	6.7	0.9	5.6	(8.3)
Investments related to deferred compensation plans
Net gains (losses) in net income related to:
Investment gains (losses), net	(0.7)	0.1	(0.5)	0.8
Trading Securities
Short-term investments:
Estimated Fair Value	287.1		287.1		275.7
Cash flows related to investment securities
Purchases and settlements	(13.1)	(106)	(59.1)	(138.1)
Sales, settlements and maturities	4.3	27.3	30.2	143.5
Trading Securities | Seeded Investment Products
Short-term investments:
Estimated Fair Value	267.3		267.3		258.3
Gains (losses) on trading securities still held at period end	(12)	(4.1)	(15.1)	4.7
Net gains (losses):
Total hedged seed investments	(6.2)	(2.1)	(4.5)	4.4
Trading Securities | Mutual Fund Share Awards
Short-term investments:
Estimated Fair Value	4		4		4.4
Trading Securities | Separately Managed Accounts
Short-term investments:
Estimated Fair Value	$ 100.2		$ 100.2		$ 66.5
Number of separately managed accounts | item	34		34		31
Trading Securities | Investments in advised funds
Short-term investments:
Estimated Fair Value	$ 167.1		$ 167.1		$ 191.8
Number of separately managed accounts | item	17		17		17
Trading Securities | Investments related to deferred compensation plans
Short-term investments:
Estimated Fair Value	$ 15.8		$ 15.8		$ 13
Available-for-sale Securities
Short-term investments:
Seeded investment products	70.2		70.2		68.3
Available-for-sale securities.
OTTI charges			0	0
Available-for-Sale Securities
Realized gains		2.6		2.8
Realized losses				(0.1)
Net realized gains (losses)		2.6		2.7
Cash flows related to investment securities
Purchases and settlements	(0.3)		(11.1)	(0.2)
Sales, settlements and maturities		76.9		174.8
Available-for-sale Securities | Seeded Investment Products
Short-term investments:
Estimated Fair Value	70.2		70.2		68.3
Available-for-sale securities.
Available-for-sale Securities, Amortized cost	74.7		74.7		68.6
Available-for-sale securities, Gross unrealized gains	0.3		0.3		0.4
Available-for-sale securities, Gross unrealized losses	(4.4)		(4.4)		(0.6)
Foreign currency translation	(0.4)		(0.4)		(0.1)
Available-for-sale securities, Carrying value	70.2		70.2		68.3
Net gains (losses):
Total hedged seed investments	(1.5)		(1.9)	3.2
Available-for-sale Securities | Investments in advised funds
Short-term investments:
Estimated Fair Value	$ 70.2		$ 70.2		$ 68.3
Number of portfolios of funds | item	41		41		40
Derivative Instruments | Seed capital economic hedge
Cash flows related to investment securities
Purchases and settlements	$ (1.9)	(3.6)	$ (7)	(21.1)
Sales, settlements and maturities	7.7	5.3	12.2	13.2
Cash Collateral | Seeded Investment Products
Available-for-sale securities.
Gross amounts	5.2		5.2		$ 1.8
Index Swap
Available-for-sale securities.
Gross amounts	0.1		0.1		0.3
Net gains (losses):
Gains (losses) on derivatives not designated as hedging	6.9	1.7	5.2	(3.1)
Index Swap | Seeded Investment Products
Available-for-sale securities.
Gross amounts	$ 1.6		$ 1.6		$ 1.4
Index Swap | Derivative Instruments | Not Designated as Hedging Instrument
Available-for-Sale Securities
Number of positions of derivative | contract	6		6		4
Notional value of derivative	$ 49.5		$ 49.5		$ 56.8
Index Swap | Derivative Instruments | Seeded Investment Products
Available-for-Sale Securities
Number of positions of derivative | instrument	99		99		117
Notional value of derivative	$ 41.1		$ 41.1		$ 65.8
Futures
Available-for-sale securities.
Gross amounts	0.4		0.4
Futures | Seeded Investment Products
Available-for-sale securities.
Gross amounts	$ 0.2		$ 0.2		$ 0.6
Futures | Derivative Instruments | Not Designated as Hedging Instrument
Available-for-Sale Securities
Number of positions of derivative | contract	33		33		6
Notional value of derivative	$ 76.9		$ 76.9		$ 74.9
Futures | Derivative Instruments | Seeded Investment Products
Available-for-Sale Securities
Number of positions of derivative | instrument	81		81		32
Notional value of derivative	$ 24.8		$ 24.8		$ 41.5
Credit Default Swap
Net gains (losses):
Gains (losses) on derivatives not designated as hedging	$ 0.3		$ 0.3
Credit Default Swap | Derivative Instruments | Not Designated as Hedging Instrument
Available-for-Sale Securities
Number of positions of derivative | contract	2		2
Notional value of derivative	$ 62		$ 62
Foreign Currency Forward Contracts | Derivative Instruments | Not Designated as Hedging Instrument
Available-for-Sale Securities
Number of positions of derivative | contract					7
Notional value of derivative					$ 3.6
Foreign Currency Forward Contracts | Derivative Instruments | Seeded Investment Products
Available-for-Sale Securities
Number of positions of derivative | instrument	36		36		37
Notional value of derivative	$ 10.8		$ 10.8		$ 2.4
Option | Seeded Investment Products
Available-for-sale securities.
Gross amounts					$ 0.2
Option | Derivative Instruments | Seeded Investment Products
Available-for-Sale Securities
Number of positions of derivative | instrument	20		20		29
Notional value of derivative	$ 0.4		$ 0.4		$ 0.5
Futures Contract
Net gains (losses):
Gains (losses) on derivatives not designated as hedging	$ (0.5)	$ (0.8)	$ 0.1	$ (5.2)

INVESTMENT SECURITIES (Details

INVESTMENT SECURITIES (Details 2) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets
Gross amounts	$ 0.5
Gross amounts offset by derivative instruments	(0.2)
Net amount, Assets	0.3
Liabilities
Gross amounts, Liabilities	0.4
Gross amounts offset, Liabilities	(0.2)
Gross amounts offset by cash collateral	(0.2)
Index Swap
Assets
Gross amounts	0.1	$ 0.3
Net amount, Assets	0.1	0.3
Futures
Assets
Gross amounts	0.4
Gross amounts offset by derivative instruments	(0.2)
Net amount, Assets	0.2
Liabilities
Gross amounts, Liabilities	0.2
Gross amounts offset, Liabilities	(0.2)
Credit Default Swap
Liabilities
Gross amounts, Liabilities	0.2
Gross amounts offset by cash collateral	(0.2)
Index Futures
Liabilities
Gross amounts, Liabilities		1.2
Gross amounts offset by cash collateral		(1.2)
Futures and Credit Default Swaps | Cash Collateral
Assets
Gross amounts	2.5	1.7
Seeded Investment Products
Assets
Gross amounts	1.8	2.2
Gross amounts offset by derivative instruments	(0.2)	(0.8)
Net amount, Assets	1.6	1.4
Liabilities
Gross amounts, Liabilities	0.4	0.8
Gross amounts offset, Liabilities	(0.2)	(0.8)
Net amount, Liabilities	0.2
Seeded Investment Products | Cash Collateral
Assets
Gross amounts	5.2	1.8
Seeded Investment Products | Index Swap
Assets
Gross amounts	1.6	1.4
Gross amounts offset by derivative instruments		(0.4)
Net amount, Assets	1.6	1
Liabilities
Gross amounts, Liabilities	0.3	0.4
Gross amounts offset, Liabilities	(0.2)	(0.4)
Net amount, Liabilities	0.1
Seeded Investment Products | Futures
Assets
Gross amounts	0.2	0.6
Gross amounts offset by derivative instruments	(0.2)	(0.4)
Net amount, Assets		0.2
Liabilities
Gross amounts, Liabilities	0.1	0.4
Gross amounts offset, Liabilities		(0.4)
Net amount, Liabilities	$ 0.1
Seeded Investment Products | Option
Assets
Gross amounts		0.2
Net amount, Assets		$ 0.2

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Sep. 30, 2015	Jul. 01, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Assets
Derivative assets	$ 0.3
Total investment securities	357.3			$ 344
Liabilities
Redeemable noncontrolling interests	36.3			5.4
Kapstream
Liabilities
contingent consideration	5.6	$ 6
Futures
Assets
Derivative assets	0.2
Index Swap
Assets
Derivative assets	0.1			0.3
Seeded Investment Products
Assets
Derivative assets	1.6			1.4
Liabilities
Derivative liabilities	0.2
Redeemable noncontrolling interests	28.8		$ 21.4	41.1	$ 38.8	$ 14.4	$ 8.8
Seeded Investment Products | Futures
Assets
Derivative assets				0.2
Liabilities
Derivative liabilities	0.1
Seeded Investment Products | Index Swap
Assets
Derivative assets	1.6			1
Liabilities
Derivative liabilities	$ 0.1
Trading Securities | Seeded Investment Products | Minimum
Assets and liabilities carried at fair value
Minimum controlling interest required for consolidation (as a percent)	50.00%
Trading Securities | Seeded Investment Products | Maximum
Assets and liabilities carried at fair value
Ownership percentage to classify security as level 1	50.00%
INTECH founding member ownership interests
Liabilities
Redeemable noncontrolling interests	$ 5.6			5.9
Fair Value, Measurements, Recurring
Assets
Cash equivalents	167.2			300.2
Total investment securities	357.3			344
Total assets	525			644.5
Liabilities
Current portion of long-term debt	154.5
Long-term debt	306.6			558
Total liabilities	488.9			577.1
Redeemable noncontrolling interests	36.3
Fair Value, Measurements, Recurring | Kapstream
Liabilities
contingent consideration	5.6
Fair Value, Measurements, Recurring | VelocityShares
Liabilities
contingent consideration	21.8			17.9
Fair Value, Measurements, Recurring | Futures
Assets
Derivative assets	0.4
Liabilities
Derivative liabilities	0.2			1.2
Fair Value, Measurements, Recurring | Index Swap
Assets
Derivative assets	0.1			0.3
Fair Value, Measurements, Recurring | Credit Default Swap
Liabilities
Derivative liabilities	0.2
Fair Value, Measurements, Recurring | Seeded Investment Products
Assets
Trading securities	267.3			258.3
Available-for-sale securities, Estimated fair value	70.2			68.3
Liabilities
Redeemable noncontrolling interests	28.8
Fair Value, Measurements, Recurring | Investments in advised funds
Assets
Trading securities	4			4.4
Fair Value, Measurements, Recurring | Investments related to deferred compensation plans
Assets
Trading securities	15.8			13
Fair Value, Measurements, Recurring | INTECH founding member ownership interests
Liabilities
Redeemable noncontrolling interests	7.5			5.4
Fair Value, Measurements, Recurring | Level 1
Assets
Cash equivalents	46.3			7.7
Total investment securities	262.5			222.3
Total assets	309.3			230
Liabilities
Total liabilities	0.4			1.2
Redeemable noncontrolling interests	5.8
Fair Value, Measurements, Recurring | Level 1 | Futures
Assets
Derivative assets	0.4
Liabilities
Derivative liabilities	0.2			1.2
Fair Value, Measurements, Recurring | Level 1 | Index Swap
Assets
Derivative assets	0.1
Fair Value, Measurements, Recurring | Level 1 | Credit Default Swap
Liabilities
Derivative liabilities	0.2
Fair Value, Measurements, Recurring | Level 1 | Seeded Investment Products
Assets
Trading securities	172.5			136.6
Available-for-sale securities, Estimated fair value	70.2			68.3
Liabilities
Redeemable noncontrolling interests	5.8
Fair Value, Measurements, Recurring | Level 1 | Investments in advised funds
Assets
Trading securities	4			4.4
Fair Value, Measurements, Recurring | Level 1 | Investments related to deferred compensation plans
Assets
Trading securities	15.8			13
Fair Value, Measurements, Recurring | Level 2
Assets
Cash equivalents	120.9			292.5
Total investment securities	94.8			121.7
Total assets	215.7			414.5
Liabilities
Current portion of long-term debt	154.5
Long-term debt	306.6			558
Total liabilities	461.1			558
Redeemable noncontrolling interests	23
Fair Value, Measurements, Recurring | Level 2 | Index Swap
Assets
Derivative assets				0.3
Fair Value, Measurements, Recurring | Level 2 | Seeded Investment Products
Assets
Trading securities	94.8			121.7
Liabilities
Redeemable noncontrolling interests	23
Fair Value, Measurements, Recurring | Level 3
Liabilities
Total liabilities	27.4			17.9
Redeemable noncontrolling interests	7.5
Fair Value, Measurements, Recurring | Level 3 | Kapstream
Liabilities
contingent consideration	5.6
Fair Value, Measurements, Recurring | Level 3 | VelocityShares
Liabilities
contingent consideration	21.8			17.9
Fair Value, Measurements, Recurring | Level 3 | INTECH founding member ownership interests
Liabilities
Redeemable noncontrolling interests	$ 7.5			$ 5.4

FAIR VALUE MEASUREMENTS (Deta34

FAIR VALUE MEASUREMENTS (Details 2) $ in Millions	Jul. 01, 2015	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2014USD ($)
Fair value measurements
Transfers from Level 1 to Level 2		$ 1.7	$ 1.7		$ 5.5
Transfers from Level 2 to Level 1		44.3	$ 44.3	$ 44.3	$ 0.4
Intech Investment Management LLc | Minimum
Fair value measurements
Valuation analysis multiple			7
Intech Investment Management LLc | Maximum
Fair value measurements
Valuation analysis multiple			14
VelocityShares
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved		36	$ 36
Contingent consideration increase to the liability and expense		3.3
VelocityShares | First Anniversary
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved		10	10
VelocityShares | Second Anniversary
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved		10	10
VelocityShares | Third Anniversary
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved		8	8
VelocityShares | Fourth Anniversary
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved		8	8
Kapstream
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved		$ 8.8	$ 8.8
Contingent consideration payable period, low	18 months
Contingent consideration payable period, high end	36 months

FAIR VALUE MEASUREMENTS (Deta35

FAIR VALUE MEASUREMENTS (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jul. 01, 2015	Dec. 31, 2014
Changes in fair value
Distributions			$ (1)	$ (0.9)
Purchase of redeemable noncontrolling interests in INTECH			(0.4)	(0.9)
Foreign currency translation losses		$ (0.7)	(0.4)	(1.7)
Change in fair value			0.3	1.6
Level 3 | INTECH founding member ownership interests | Fair Value, Measurements, Recurring
Changes in fair value
Balance at the beginning of the year, Liability Value	$ 7.2	4.6	5.4	7.3
Distributions	(0.1)	(0.2)	(0.7)	(0.7)
Current earnings	0.1	0.1	0.4	0.4
Purchase of redeemable noncontrolling interests in INTECH				(0.6)
Amortization of INTECH appreciation rights	0.8		2.7
Change in fair value	(0.5)	0.3	(0.3)	(1.6)
Balance at the end of the year, Liability Value	7.5	$ 4.8	7.5	$ 4.8
VelocityShares | Fair Value, Measurements, Recurring
Changes in fair value
Issuance	21.8		21.8			$ 17.9
VelocityShares | Level 3 | Fair Value, Measurements, Recurring
Changes in fair value
Balance at the beginning of the year, Liability Value	18.5		17.9
Change in fair value	3.3		3.9
Balance at the end of the year, Liability Value	21.8		21.8
Kapstream
Changes in fair value
Issuance	5.6		5.6		$ 6
Kapstream | Fair Value, Measurements, Recurring
Changes in fair value
Issuance	5.6		5.6
Kapstream | Level 3 | Fair Value, Measurements, Recurring
Changes in fair value
Issuance	6		6
Foreign currency translation losses	(0.5)		(0.5)
Change in fair value	0.1		0.1
Balance at the end of the year, Liability Value	$ 5.6		$ 5.6

DEBT (Details)

DEBT (Details) $ / shares in Units, $ in Millions	Aug. 21, 2015$ / shares	Jul. 31, 2015USD ($)	Jun. 30, 2013$ / shares	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2014USD ($)$ / shares	Jun. 30, 2013$ / shares	Sep. 30, 2015USD ($)item$ / shares	Sep. 30, 2014USD ($)$ / shares	Dec. 31, 2014USD ($)
Components of debt
Less: Current portion				$ 108.2			$ 108.2
Total long-term debt				297.1			297.1		$ 450.5
Other Disclosures
Interest Expense				$ 8	$ 7.6		22.5	$ 25.9
Debt issuance cost							$ 4.1
Dividends paid (per share) | $ / shares	$ 0.09			$ 0.09	$ 0.08	$ 0.07	$ 0.26	$ 0.23
Repayments of Long-term Debt							$ 380.3	$ 98.9
Loss on extinguishment of debt				$ 36.3			36.3
Carrying value
Components of debt
Total				405.3			405.3		450.5
Less: Current portion				108.2			108.2
Total long-term debt				297.1			297.1		450.5
Fair Value
Components of debt
Total				461.1			461.1		558
Less: Current portion				154.5			154.5
Total long-term debt				$ 306.6			$ 306.6		558
4.875% Senior Notes due 2025
Components of debt
Interest rate (as a percent)		4.875%		4.875%			4.875%
Other Disclosures
Face value of debt issued		$ 300
Debt issuance cost		$ 2.6
Term of debt		10 years
Unamortized discount				$ 2.9			$ 2.9
4.875% Senior Notes due 2025 | Carrying value
Components of debt
Total				297.1			297.1
4.875% Senior Notes due 2025 | Fair Value
Components of debt
Total				$ 306.6			$ 306.6
0.750% Convertible Senior Notes due 2018
Components of debt
Interest rate (as a percent)				0.75%			0.75%
Other Disclosures
Conversion rate, shares per $1,000 principal amount			92.06	92.55
Adjusted conversion price per share of common stock (in dollars per share) | $ / shares			$ 10.86	$ 10.80		10.86	$ 10.80
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%
Dividends paid (per share) | $ / shares	$ 0.09					0.07
Number of trading days within 30 consecutive trading days required per the conversion eligibility terms, minimum | item							20
Number of consecutive trading days required per the conversion eligibility terms							30 days
Increased conversion price per share of common stock (in dollars per share) | $ / shares			$ 12.60	$ 12.53		$ 12.60	$ 12.53
0.750% Convertible Senior Notes due 2018 | Carrying value
Components of debt
Total				$ 108.2			$ 108.2		106
0.750% Convertible Senior Notes due 2018 | Fair Value
Components of debt
Total				$ 154.5			$ 154.5		$ 177.2
6.700% Senior Notes due 2017
Components of debt
Interest rate (as a percent)				6.70%			6.70%		6.70%
Other Disclosures
Loss on extinguishment of debt				$ 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							3
Credit facility covenant terms, interest coverage ratio, minimum							4
Borrowings under the Credit Facility				$ 0			$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
INCOME TAXES
Effective tax rate (as a percent)	40.00%	36.70%	36.90%	41.10%
Reserves for income tax contingencies	$ 5.7		$ 5.7
Accrual of additional reserves for income tax contingencies	0.2
Net tax benefit related to accrued additional reserves in income tax contingency reserves	0.1
Anticipated decrease in income tax contingency reserves in the next 12 months	$ 1.4		$ 1.4

NONCONTROLLING INTERESTS (Detai

NONCONTROLLING INTERESTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jul. 01, 2015	Dec. 31, 2014
Noncontrolling Interests That Are Not Subject to Redemption Rights
Noncontrolling interests	$ 85		$ 85			$ 47.3
Noncontrolling interests in net income
Total noncontrolling interests in net income		$ (0.3)	1.8	$ 0.9
Seeded Investment Products
Noncontrolling Interests That Are Not Subject to Redemption Rights
Noncontrolling interests						41.1
Noncontrolling interests in net income
Redeemable noncontrolling interests	(1.2)		(0.2)
Nonredeemable noncontrolling interests		(0.6)		(0.2)
INTECH
Noncontrolling Interests That Are Not Subject to Redemption Rights
Noncontrolling interests	5.9		5.9			$ 6.2
Noncontrolling interests in net income
Redeemable noncontrolling interests	0.1	0.1	0.4	0.4
Nonredeemable noncontrolling interests	0.3	$ 0.2	0.8	$ 0.7
Kapstream
Noncontrolling Interests That Are Not Subject to Redemption Rights
Noncontrolling interests	79.1		79.1
Ownership interest acquired (as a percent)					51.00%
Ownership interest that the Company has an option to purchase					49.00%
Noncontrolling interests in net income
Nonredeemable noncontrolling interests	$ 0.8		$ 0.8

NONCONTROLLING INTERESTS (Det39

NONCONTROLLING INTERESTS (Details 2) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Dec. 31, 2014
Redeemable Noncontrolling Interests
INTECH undistributed earnings		$ (0.8)		$ (0.8)			$ (0.5)
Vesting period				4 years
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Beginning of period balance				$ 5.4
End of period balance		36.3		36.3
Seeded Investment Products
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Beginning of period balance	$ 38.8	21.4	$ 14.4	41.1	$ 8.8
Change in market value		(1.2)	(0.6)	(0.2)	(0.2)
Change in ownership		8.6	25	(12.1)	30.2
End of period balance		$ 28.8	$ 38.8	$ 28.8	$ 38.8
INTECH founding member ownership interests
Redeemable Noncontrolling Interests
Remaining interest (as a percent)		1.00%		1.00%			1.00%
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Beginning of period balance				$ 5.9
End of period balance		$ 5.6		5.6
INTECH
Redeemable Noncontrolling Interests
INTECH appreciation rights				$ 2.7
INTECH | Appreciation Rights
Redeemable Noncontrolling Interests
Long-term incentive awards granted	$ 23.2
Vesting period	10 years
Maximum | Seeded Investment Products
Redeemable Noncontrolling Interests
Ownership percentage						50.00%

LONG-TERM INCENTIVE COMPENSAT40

LONG-TERM INCENTIVE COMPENSATION (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Long-term incentive compensation expense
Long-term incentive awards granted	$ 0.2		$ 77.5
Vesting period			4 years
Total long-term incentive compensation	17.6	$ 11.6	$ 57.5	$ 36.1
Intech Investment Management LLc
Long-term incentive compensation expense
Long-term incentive awards granted			2
Restricted Stock Awards
Long-term incentive compensation expense
Long-term incentive awards granted			$ 52.3
Number of price-vesting units granted			2.9
Weighted average price per share (in dollars per share)			$ 17.80
Mutual Fund Share Awards
Long-term incentive compensation expense
Long-term incentive awards granted			$ 23.2
Deferred Compensation Plans
Long-term incentive compensation expense
Total long-term incentive compensation	0.7	$ 0.9	1	$ 3.3
Profits and Phantom Interests | Intech Investment Management LLc
Long-term incentive compensation expense
Total long-term incentive compensation	$ 4		$ 11.3

OTHER INCOME (EXPENSE), NET (De

OTHER INCOME (EXPENSE), NET (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
OTHER INCOME (EXPENSE), NET
Dividend income	$ 2	$ 0.4	$ 3.3	$ 1.3
Interest income	0.2	0.2	0.5	0.5
Foreign currency losses, net	(1)	(1.7)	(5.1)	(1.9)
Other, net			0.2
Total other income (expense), net	$ 1.2	$ (1.1)	$ (1.1)	$ (0.1)

ACCUMULATED OTHER COMPREHENSI42

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
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	$ 1.2	$ (1.1)	(1.1)	$ (0.1)
Total other comprehensive loss, net of tax	(9.4)	(1.8)	(10.1)
Ending balance	1,568.6		1,568.6
Accumulated Other Comprehensive Loss
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	(2.1)	0.7	(1.4)	(1.1)
Other comprehensive income (loss) before reclassifications	(9.4)		(10.1)	2.3
Amounts reclassified from accumulated other comprehensive loss to:
Total other comprehensive loss, net of tax	(9.4)	(1.8)	(10.1)
Ending balance	(11.5)	(1.1)	(11.5)	(1.1)
Accumulated Other Comprehensive Loss | Amounts reclassified from accumulated other comprehensive loss
Amounts reclassified from accumulated other comprehensive loss to:
Investment gains (losses), net		(1.8)		(2.3)
Available for sale securities
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	0.2	3	0.9	1.2
Other comprehensive income (loss) before reclassifications	(1.9)		(2.6)	2.3
Amounts reclassified from accumulated other comprehensive loss to:
Total other comprehensive loss, net of tax	(1.9)	(1.8)	(2.6)
Ending balance	(1.7)	1.2	(1.7)	1.2
Available for sale securities | Amounts reclassified from accumulated other comprehensive loss
Amounts reclassified from accumulated other comprehensive loss to:
Investment gains (losses), net		(1.8)		(2.3)
Foreign currency
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	(2.3)	(2.3)	(2.3)	(2.3)
Other comprehensive income (loss) before reclassifications	(7.5)		(7.5)
Amounts reclassified from accumulated other comprehensive loss to:
Total other comprehensive loss, net of tax	(7.5)		(7.5)
Ending balance	$ (9.8)	$ (2.3)	$ (9.8)	$ (2.3)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Aug. 21, 2015	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2013	Sep. 30, 2015	Sep. 30, 2014
Net income attributable to JCG common shareholders
Net income attributable to JCG		$ 19.9	$ 40.9		$ 109.2	$ 107.7
Less: Allocation of earnings to participating restricted stock awards		0.7	1.4		3.9	3.6
Net income attributable to JCG common shareholders		$ 19.2	$ 39.5		$ 105.3	$ 104.1
Basic earnings per share attributable to JCG common shareholders
Weighted average common shares outstanding		179.9	181.4		180.3	183
Basic earnings per share (in dollars per share)		$ 0.11	$ 0.22		$ 0.58	$ 0.57
Diluted earnings per share attributable to JCG common shareholders
Weighted average common shares outstanding		179.9	181.4		180.3	183
Incremental common shares		6.5	1.4		7.7	1
Weighted average diluted common shares outstanding		186.4	182.8		188	184
Diluted earnings per share (in dollars per share)		$ 0.10	$ 0.22		$ 0.56	$ 0.57
Dividends paid (per share)	$ 0.09	$ 0.09	$ 0.08	$ 0.07	$ 0.26	$ 0.23
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			1.8			3.4
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			0.1			0.1