Janus Capital (JNS) 10-Q 26 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 21, 2016
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	Jun. 30, 2016
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		183,545,548
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 337.1	$ 364.4
Other current assets	54.6	40
Total current assets	836.9	869.3
Other assets:
Property and equipment, net	37	38.7
Intangible assets, net	1,348.6	1,352.5
Goodwill	604.9	602.8
Other non-current assets	12.4	4.4
Total assets	2,839.8	2,867.7
Current liabilities:
Accrued compensation and benefits	72.6	145.3
Current portion of long-term debt	109.2	107.5
Total current liabilities	254.8	333.9
Other liabilities:
Long-term debt	295	294.8
Deferred income taxes, net	520.1	498.9
Other non-current liabilities	52.7	46.2
Total liabilities	1,122.6	1,173.8
Commitments and contingencies
Redeemable noncontrolling interests	30.3	21.8
Equity:
Preferred stock ($1.00 par, 10,000,000 shares authorized, none issued)
Common stock ( $0.01 par, 1,000,000,000 shares authorized; 183,580,931 and 183,660,673 shares outstanding, respectively)	1.8	1.8
Retained earnings	1,597.8	1,589.8
Accumulated other comprehensive loss, net of tax	(5.9)	(8.9)
Total JCG stockholders' equity	1,593.7	1,582.7
Noncontrolling interests	93.2	89.4
Total equity	1,686.9	1,672.1
Total liabilities, redeemable noncontrolling interests and equity	2,839.8	2,867.7
Consolidated excluding VIEs
Current assets:
Cash and cash equivalents	337.1	364.4
Investment securities	267.3	327.1
Accounts receivable	125.5	137.8
Current liabilities:
Accounts payable	6.6	6.9
Other accrued liabilities	65.2	$ 74.2
Consolidated VIEs
Current assets:
Cash and cash equivalents	2.2
Investment securities	49.2
Accounts receivable	1
Current liabilities:
Accounts payable and other accrued liabilities	$ 1.2

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
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	183,580,931	183,660,673

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Investment management fees	$ 217.9	$ 233.7	$ 428.2	$ 456.3
Performance fees	(8.3)	(4.4)	(10.7)	(6.7)
Shareowner servicing fees and other	42.3	42.6	82.9	85
Total revenue	251.9	271.9	500.4	534.6
Operating expenses:
Employee compensation and benefits	83.6	91.2	171.5	182.6
Long-term incentive compensation	19	19.7	38.5	39.9
Marketing and advertising	6.9	5.5	12.2	11.2
Distribution	33.3	34.7	65.7	68.9
Depreciation and amortization	8.9	7.6	18	15
General, administrative and occupancy	32.3	31.1	64	58.9
Total operating expenses	184	189.8	369.9	376.5
Operating income	67.9	82.1	130.5	158.1
Interest expense	(5.1)	(7.2)	(10.3)	(14.5)
Investment gains (losses), net	0.7	(3.1)	2.9	1.3
Other income (expense), net	1.2	(2.2)	3	(2.3)
Income before taxes	64.7	69.6	125.6	142.6
Income tax provision	(24.5)	(24.7)	(48.4)	(51.5)
Net income	40.2	44.9	77.2	91.1
Noncontrolling interests	(1.2)	(0.2)	(3.1)	(1.8)
Net income attributable to JCG	$ 39	$ 44.7	$ 74.1	$ 89.3
Earnings per share attributable to JCG common shareholders:
Basic (in dollars per share)	$ 0.21	$ 0.24	$ 0.40	$ 0.48
Diluted (in dollars per share)	$ 0.21	$ 0.23	$ 0.39	$ 0.46
Other comprehensive income, net of tax:
Net unrealized gain (loss) on available-for-sale securities	$ 0.1	$ (1)	$ 0.8	$ (0.7)
Foreign currency gain (loss)	(2.6)		2.2
Total other comprehensive income (loss), net of tax	(2.5)	(1)	3	(0.7)
Comprehensive income	37.7	43.9	80.2	90.4
Comprehensive income attributable to noncontrolling interests	(1.2)	(0.2)	(3.1)	(1.8)
Comprehensive income attributable to JCG	36.5	43.7	77.1	88.6
Consolidated excluding VIEs
Operating expenses:
Investment gains (losses), net	$ 0.7	$ (3.1)	2.9	$ 1.3
Consolidated VIEs
Operating expenses:
Investment gains (losses), net			$ (0.5)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities:
Net income	$ 77.2	$ 91.1
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Depreciation and amortization	18	15
Deferred income taxes	20	31.9
Amortization of stock-based compensation	28.5	26
Investment (gains) losses, net	(2.9)	(1.3)
Amortization of debt discounts, premiums and deferred issuance costs	2.2	2.1
Payment of deferred commissions, net	(3.6)	(6.6)
Other, net	3	3.9
Changes in working capital items:
Accounts receivable	12.3	(3.2)
Other current assets	(10.5)	(54.4)
Accounts payable and accrued compensation payable	(79.8)	(61.6)
Other current and non-current liabilities	(7.3)	(14.5)
Net operating activities	57.6	28.4
Investing activities:
Purchase of property and equipment	(4.4)	(4.6)
Purchases and settlements of investment securities	(49.6)	(61.9)
Proceeds from sales, settlements and maturities of investment securities	63.4	30.4
Sales (purchases) of securities by consolidated seeded investment products, net (See Note 1)	10.3	(24.8)
Escrow of cash for acquisition		(88.7)
Net investing activities	11.7	(149.6)
Financing activities:
Purchase of noncontrolling interests		(0.1)
Distributions to noncontrolling interests	(1.7)	(1.5)
Proceeds from stock option exercises and employee stock purchases	7.2	7.8
Excess tax benefit from equity-based compensation	2.9	7.6
Principal payments under capital lease obligations	(0.7)	(0.4)
Third-party investments (redemptions) in consolidated seeded investment products, net (See Note 1)	(10.3)	24.8
Repurchase of common stock	(56.8)	(34.7)
Dividends paid to JCG shareholders	(37)	(31.8)
Net financing activities	(96.4)	(28.3)
Cash and cash equivalents:
Effect of foreign exchange rate changes	(0.2)	(3.8)
Net change	(27.3)	(153.3)
At beginning of period	364.4	452.5
At end of period	337.1	299.2
Supplemental cash flow information:
Cash paid for interest	7.8	12
Cash paid for income taxes, net of refunds	32.6	67.5
Consolidated excluding VIEs
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Investment (gains) losses, net	(2.9)	(1.3)
Investing activities:
Purchases and settlements of investment securities	(42.2)	(61.9)
Proceeds from sales, settlements and maturities of investment securities	14.2	$ 30.4
Cash and cash equivalents:
At beginning of period	364.4
At end of period	337.1
Consolidated VIEs
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Investment (gains) losses, net	0.5
Investing activities:
Purchases and settlements of investment securities	(15.4)
Proceeds from sales, settlements and maturities of investment securities	49.2
Cash and cash equivalents:
At end of period	$ 2.2

CONDENSED CONSOLIDATED STATEME6

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, 2014	$ 1.9	$ 1,540.3	$ (1.4)	$ 47.3	$ 1,588.1
Balance (in shares) at Dec. 31, 2014	185,200,000
Increase (Decrease) in Stockholders' Equity
Net income		89.3		0.6	89.9
Other comprehensive income (loss)			(0.7)		(0.7)
Amortization of stock-based compensation		18.1		0.5	18.6
Amortization of INTECH appreciation rights				(0.6)	(0.6)
Issuance and forfeitures of restricted stock awards, net (in shares)	2,800,000
Stock option exercises and employee stock purchases		7.8			7.8
Stock option exercises and employee stock purchases (in shares)	900,000
Tax impact of stock-based compensation		2.5			2.5
Changes in noncontrolling interests in consolidated investment products				(41.1)	(41.1)
Distributions to noncontrolling interests				(0.9)	(0.9)
Change in fair value of redeemable noncontrolling interests		(0.2)			(0.2)
Purchase of noncontrolling interests				(0.1)	(0.1)
Repurchase of common stock		(34.7)			(34.7)
Repurchase of common stock (in shares)	(2,000,000)
Dividends paid to JCG shareholders		(31.8)			(31.8)
Balance at Jun. 30, 2015	$ 1.9	1,591.3	(2.1)	5.7	1,596.8
Balance (in shares) at Jun. 30, 2015	186,900,000
Balance at Dec. 31, 2015	$ 1.8	1,589.8	(8.9)	89.4	$ 1,672.1
Balance (in shares) at Dec. 31, 2015	183,700,000				183,660,673
Increase (Decrease) in Stockholders' Equity
Net income		74.1		2.4	$ 76.5
Other comprehensive income (loss)			3	2.1	5.1
Amortization of stock-based compensation		19.7		0.3	20
Amortization of INTECH appreciation rights				0.1	0.1
Issuance and forfeitures of restricted stock awards, net (in shares)	3,000,000
Stock option exercises and employee stock purchases		7.2			7.2
Stock option exercises and employee stock purchases (in shares)	1,100,000
Tax impact of stock-based compensation		0.3			0.3
Distributions to noncontrolling interests				(1.1)	(1.1)
Change in fair value of redeemable noncontrolling interests		0.5			0.5
Repurchase of common stock		(56.8)			(56.8)
Repurchase of common stock (in shares)	(4,200,000)
Dividends paid to JCG shareholders		(37)			(37)
Balance at Jun. 30, 2016	$ 1.8	$ 1,597.8	$ (5.9)	$ 93.2	$ 1,686.9
Balance (in shares) at Jun. 30, 2016	183,600,000				183,580,931

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2016
BASIS OF PRESENTATION
BASIS OF PRESENTATION	Note 1 — Basis of Presentation In the opinion of the management of Janus Capital Group Inc. (collectively, “JCG” or “the Company”), 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 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 financial statements through the issuance date, and the Company has determined that there were no subsequent events that require disclosure. These financial statements should be read in conjunction with the annual consolidated financial statements presented in JCG’s Annual Report on Form 10-K for the year ended December 31, 2015. The accompanying interim condensed consolidated financial statements have been prepared on a consistent basis with the accounting policies described in Note 2 to the annual consolidated financial statements presented in JCG’s Annual Report on Form 10-K for the year ended December 31, 2015, except for the adoption of the consolidation guidance and reclassification of debt issuance costs discussed below. Certain prior period amounts have been revised to conform to current period presentation. Third-party sales and redemptions of consolidated seeded investment products were incorrectly netted against the associated purchases and sales of investment securities within investing activities on JCG’s Condensed Consolidated Statements of Cash Flows. Sales and redemptions of consolidated seeded investment products should be presented as a financing activity, and the offsetting purchases and sales of investment securities within the consolidated seeded investment products should be presented as an investing activity. Cash flows related to consolidated seeded investment products are now presented on a gross basis, within the “Sales (purchases) of securities by consolidated seeded investment products” and “Third-party investments (redemptions) in consolidated seeded investment products” captions on JCG’s Condensed Consolidated Statements of Cash Flows. Net investing activities were previously reported as ($124.8) million for the six months ended June 30, 2015, and were adjusted by ($24.8) million. Net financing activities were previously reported as ($53.1) million for the six months ended June 30, 2015, and were adjusted by $24.8 million. The corrections had no impact on the net change in cash and cash equivalents for the six months ended June 30, 2015. 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. 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 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. The Company retrospectively adopted this new accounting standard during the first quarter 2016 and reclassified the December 31, 2015, debt issuance cost balances of $1.4 million and $2.4 million from other current assets and other non-current assets to current portion of long-term debt and long-term debt, respectively, on JCG’s Condensed Consolidated Balance Sheets. In January 2016, the Company adopted the recently amended consolidation guidance issued by the FASB on a modified retrospective basis. The amended guidance eliminated the deferral for investment funds and modified the analysis for determining if an entity is a variable interest entity (“VIE”). The amended VIE analysis changed 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 are now considered VIEs under the amended guidance unless limited partners hold substantive kick-out rights or participation rights. Refer to Note 2 for further discussion. In January 2016, the FASB issued amendments to its financial instruments standard, including changes relating to the accounting for equity investments, and the presentation and disclosure requirements for financial instruments. Under the amended guidance, all equity investments in unconsolidated entities (other than those accounted for using the equity method of accounting) will generally be measured at fair value through earnings. There will no longer be an available-for-sale classification (changes in fair value reported in other comprehensive income) for equity securities with readily determinable fair values. The amended guidance also requires financial assets and financial liabilities to be presented separately in the notes to the financial statements, grouped by measurement category (e.g., fair value, amortized cost, lower of cost or market) and form of financial asset (e.g., loans, securities). The standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is evaluating the effect of adopting this new accounting standard. In February 2016, the FASB issued a new standard on accounting for leases. The new standard represents a wholesale change to lease accounting and introduces a lessee model that brings most leases on to the balance sheet. The standard also aligns certain of the underlying principles of the new lessor model with those in the FASB’s new revenue recognition standard. Furthermore, the new standard addresses other concerns related to the current leases model. The standard is effective for calendar periods beginning on January 1, 2019. The Company is evaluating the effect of adopting this new accounting standard. In March 2016, the FASB issued an amendment to its principal-versus-agent guidance in the FASB’s new revenue standard. The key provisions of the amendment are assessing the nature of the entity’s promise to the customer, identifying the specified goods or services, application of the control principle and indicators of control. The amendment is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. In addition, entities are required to adopt the amendment by using the same transition method they used to adopt the new revenue standard. The Company is evaluating the effect of adopting this new accounting standard. In March 2016, the FASB issued an accounting standard update that simplified several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements as well as classification in the statement of cash flows. The standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. The Company is evaluating the effect of adopting this new accounting standard.

CONSOLIDATION

CONSOLIDATION	6 Months Ended
	Jun. 30, 2016
CONSOLIDATION
CONSOLIDATION	Note 2 — Consolidation As discussed above, JCG adopted amended consolidation accounting guidance effective January 1, 2016. Upon adoption, JCG designated a number of its seeded investment products as VIEs, which are generally subject to consolidation by the Company at lower ownership percentages compared to the 50% threshold applied for voting rights entities (“VREs”) and are also subject to specific disclosure requirements. As a result of the adoption, the Company consolidated five additional seeded investment products as of June 30, 2016. Analysis JCG performs an analysis of affiliates and investment products to determine if the affiliate or product is a VIE or a VRE. Assessing whether an entity is a VIE or a VRE involves judgment and analysis. Factors considered in this assessment include the entity’s legal organization, the entity’s capital structure and equity ownership, and any de facto agent implications of the Company’s involvement with the entity. Investment products that are determined to be VIEs are consolidated if the Company is the primary beneficiary of the entity. VREs are consolidated if the Company holds the majority voting interest. Upon the occurrence of certain events (such as contributions and redemptions, either by JCG or third parties, or amendments to the governing documents of the Company’s investment products), management reviews and reconsiders its previous conclusion regarding the status of an entity as a VIE or a VRE. Additionally, management continually reconsiders whether JCG is considered a VIE’s primary beneficiary, and thus consolidates such entity. Variable Interest Entities Certain investment products for which a controlling financial interest is achieved through arrangements that do not involve or are not directly linked to voting interests are considered VIEs. JCG reviews factors, including whether or not i) the entity has equity that is sufficient to permit the entity to finance its activities without additional subordinated support from other parties and ii) the equity holders at risk have the obligation to absorb losses, the right to receive residual returns and the right to direct the activities of the entity that most significantly impact the entity’s economic performance, to determine if the investment product is a VIE. JCG re-evaluates such factors as facts and circumstances change. JCG consolidates a VIE if JCG is the VIE’s primary beneficiary. The primary beneficiary of a VIE is defined as the variable interest holder that has a controlling financial interest in the VIE. A controlling financial interest is defined as i) the power to direct the activities of the VIE that most significantly impact its economic performance and ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that potentially could be significant to the VIE. JCG is the manager of various types of seeded investment products, which may be considered VIEs. The Company’s involvement in financing the operations of the VIEs is generally limited to its investments in the entities. As a result of the adoption of amended consolidation guidance effective January 1, 2016, the Company consolidated certain seeded investment products that were not previously consolidated. Prior to January 1, 2016, none of the Company’s affiliates or seeded investment products were designated as VIEs. Consolidated Variable Interest Entities JCG’s consolidated VIEs as of June 30, 2016, include certain consolidated seeded investment products in which the Company has an investment and acts as the investment manager. The assets of these VIEs are not available to JCG or the creditors of JCG. JCG may not, under any circumstances, access cash and cash equivalents held by consolidated VIEs to use in its operating activities or otherwise. In addition, the investors in these VIEs have no recourse to the credit of the Company. Consolidated VIE assets and liabilities are presented after intercompany eliminations at June 30, 2016, and December 31, 2015, in the following table (in millions): June 30, 2016 December 31, 2015 Investment securities $ $ — Cash and cash equivalents — Accounts receivable — Accounts payable and other accrued liabilities ) — Total — Noncontrolling interests in consolidated VIEs ) — JCG’s net interest in consolidated VIEs $ $ — Unconsolidated Variable Interest Entities At June 30, 2016, JCG’s carrying value of investment securities included on the Condensed Consolidated Balance Sheets pertaining to unconsolidated VIEs was $7.5 million. JCG’s total exposure to unconsolidated VIEs represents the value of its economic ownership interest in the investment securities. Voting Rights Entities Consolidated Voting Rights Entities JCG consolidates seeded investment products accounted for as VREs when it is considered to control such products, which generally exists if there is a greater than 50% voting equity interest. The following table presents the balances related to these consolidated VREs that were recorded on JCG’s Condensed Consolidated Balance Sheets, including JCG’s net interest in these products (in millions): June 30, 2016 December 31, 2015 Investment securities $ $ Cash and cash equivalents — Accounts receivable — Other accrued liabilities ) — Total Noncontrolling interests in consolidated VREs ) ) JCG’s net interest in consolidated VREs $ $ JCG’s total exposure to consolidated VREs represents the value of its economic ownership interest in these seeded investment products. Valuation changes associated with investments held at fair value by these consolidated VREs are reflected in investment gains (losses), net on the Company’s Condensed Consolidated Statements of Comprehensive Income. Valuation changes are partially offset in noncontrolling interests in net income for the portion not attributable to JCG. Refer to Note 3 — Investment Securities. JCG may not, under any circumstances, access cash and cash equivalents held by consolidated VREs to use in its operating activities or otherwise.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	6 Months Ended
	Jun. 30, 2016
INVESTMENT SECURITIES
INVESTMENT SECURITIES	Note 3 — Investment Securities JCG’s investment securities as of June 30, 2016, and December 31, 2015, are summarized as follows (in millions): June 30, December 31, 2016 2015 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 June 30, 2016, and December 31, 2015: June 30, 2016 December 31, 2015 Fair value (in millions) Number of products Fair value (in millions) Number of products Mutual funds advised by the Company: Consolidated VREs $ $ Consolidated VIEs — — Unconsolidated VREs(1) Total mutual funds advised by the Company Separate accounts Pooled investment funds Total trading securities $ $ (1) Represents unconsolidated seeded investment products for which JCG’s ownership percentage is between 20% and 50%. The investments are classified as equity-method, which approximates fair value due to the nature of the underlying investments. Net unrealized gains (losses) on trading securities still held as of June 30, 2016 and 2015, are summarized as follows (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Net unrealized 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 June 30, 2016, and December 31, 2015: June 30, 2016 December 31, 2015 Fair value (in millions) Number of products Fair value (in millions) Number of products Mutual funds advised by the Company: Unconsolidated VREs $ $ Unconsolidated VIEs — — Total mutual funds advised by the Company $ $ The following is a summary of available-for-sale securities as of June 30, 2016, and December 31, 2015 (in millions): Gross unrealized Foreign investment currency Estimated Carrying Cost Gains Losses translation fair value value June 30, 2016: Unconsolidated VREs $ $ $ ) $ — $ $ Unconsolidated VIEs $ $ $ ) $ ) $ $ December 31, 2015: Unconsolidated VREs $ $ $ ) $ ) $ $ Unconsolidated VIEs $ — $ — $ — $ — $ — $ — 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 six months ended June 30, 2016 or 2015. 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 and commodity markets are hedged by using index swaps, index and commodity futures (“futures”) and credit default swaps. JCG reassessed its hedging strategy during the first quarter 2016, which resulted in a reduction in the use of index swaps and an increase in the use of futures and credit default swaps to hedge against market volatility of certain seeded investment products. JCG was party to the following derivative instruments as of June 30, 2016, and December 31, 2015: June 30, 2016 December 31, 2015 Number of contracts Notional value (in millions) Number of contracts Notional value (in millions) Index swaps $ $ Futures $ $ Credit default swaps $ $ The above derivative instruments are not designated as hedges for accounting purposes. Changes in fair value of the index swaps, futures and credit default swaps were recognized in investment gains (losses), net on JCG’s Condensed Consolidated Statements of Comprehensive Income. Index swaps, futures and credit default swaps are subject to a master netting arrangement. The values of the individual index swap contracts, futures and credit default swaps, 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. The Company posted $6.4 million and $3.3 million in cash collateral with the counterparty of the futures and credit default swaps as of June 30, 2016, and December 31, 2015, 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 June 30, 2016, and December 31, 2015 (in millions): June 30, 2016 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Futures $ $ ) $ — $ — Liabilities: Index swaps $ $ — $ — $ Futures ) ) — Credit default swaps — ) Total $ $ ) $ ) $ December 31, 2015 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Futures $ $ ) $ — $ Liabilities: Index swaps $ $ — $ — $ Futures ) — — Credit default swaps — ) — Total $ $ ) $ ) $ JCG recognized the following net gains (losses) on hedged seeded investments and associated futures, credit default swaps and index swaps for the three and six months ended June 30, 2016 and 2015 (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Hedged seeded investments classified as trading securities(1) $ $ ) $ $ Hedged seeded investments classified as available-for-sale securities(1) ) ) Total hedged seeded investments ) Futures ) ) Credit default swaps — — ) — Index swaps ) ) ) ) Total $ $ ) $ — $ 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 $0.9 million and $4.7 million in cash collateral with the counterparty of the derivative instruments as of June 30, 2016, and December 31, 2015, respectively. JCG’s consolidated seeded investment products were party to the following derivative instruments as of June 30, 2016, and December 31, 2015: June 30, 2016 December 31, 2015 Number of contracts Notional value (in millions) Number of contracts Notional value (in millions) Swaps $ $ Futures $ $ Foreign currency forward contracts $ $ Options $ $ (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 and credit risk associated with fixed income 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 June 30, 2016 (in millions): June 30, 2016 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Swaps $ $ ) $ — $ Futures ) — Foreign currency forward contracts ) — Total $ $ ) $ — $ Liabilities: Swaps $ $ — $ ) $ — Futures ) — — Foreign currency forward contracts ) — — 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, 2015 (in millions): December 31, 2015 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Swaps $ $ ) $ — $ Futures ) — — Foreign currency forward contracts ) — — Total $ $ ) $ — $ Liabilities: Swaps $ $ ) $ — $ — Futures ) ) — Foreign currency forward contracts ) — — Total $ $ ) $ ) $ — As of June 30, 2016, certain consolidated seeded investment products sold credit protection through the use of credit default swap contracts. The contracts provide alternative credit risk exposure to individual companies and countries outside of traditional bond markets. The terms of the credit default swap contracts range from one to five years. As sellers in credit default swap contracts, the consolidated seeded investment products would be required to pay the notional value of a referenced debt obligation to the counterparty in the event of a default on the debt obligation by the issuer. The notional value represents the estimated maximum potential undiscounted amount of future payments required upon the occurrence of a credit default event. As of June 30, 2016, the notional values of the agreements totaled $5.1 million. The credit default swap contracts include recourse provisions that allow for recovery of a certain percentage of amounts paid upon the occurrence of a credit default event. As of June 30, 2016, the fair value of the credit default swap contracts selling protection was less than $0.1 million. Investment Gains (Losses), Net Investment gains (losses), net on JCG’s Condensed Consolidated Statements of Comprehensive Income included the following for the three and six months ended June 30, 2016 and 2015 ( in millions ): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Seeded investment products accounted for as VREs $ $ ) $ $ Noncontrolling interests in seeded investment products accounted for as VREs ) ) Investments in advised mutual funds — Index swaps, credit default swaps and futures ) ) ) Economic hedge for deferred compensation plans ) Other — — Investment gains (losses), net $ $ ) $ $ Purchases, Sales, Settlements and Maturities Cash flows related to investment securities for the three and six months ended June 30, 2016 and 2015, are summarized as follows (in millions): Three months ended June 30, 2016 2015 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 $ ) $ $ ) $ Six months ended June 30, 2016 2015 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	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 (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 — — Trading securities: Seeded investment products: Consolidated VREs — Consolidated VIEs — Unconsolidated VREs — — Separate accounts — Pooled investment funds — Investments in advised mutual funds — — Investments related to deferred compensation plans — — Available-for-sale securities: Seeded investment products: Unconsolidated VREs — — Unconsolidated VIEs — — Total investment securities — Total assets $ $ $ — $ Liabilities: Futures $ $ — $ — $ Index swaps — — 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, 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 — — Trading securities: Seeded investment products: Consolidated VREs — Unconsolidated VREs — — Separate accounts — Pooled investment funds — Investments in advised mutual funds — — Investments related to deferred compensation plans — — Available-for-sale securities: Seeded investment products: Unconsolidated VREs — — Total investment securities — Total assets $ $ $ — $ Liabilities: Index swaps $ — $ $ — $ 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 $ $ $ $ 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 consolidated seeded investment products is determined by the underlying securities of the product. The fair value level of unconsolidated seeded investment products and available-for-sale seeded investment products is determined using the respective net asset value (“NAV”) of each product. All seeded investment products for which the NAV is used to determine their fair value are classified as Level 1 and primarily represent seeded mutual funds where JCG’s ownership level is under 50% or where JCG is not considered the primary beneficiary. Level 2 Fair Value Measurements JCG’s Level 2 fair value measurements consist mostly of cash equivalents, consolidated seeded investment products and JCG’s long-term debt. Cash equivalents are short-term, highly liquid investments with an initial maturity of three months or less when purchased and consist primarily of commercial paper, certificates of deposits and other short-term investments. The fair value of consolidated seeded investment products which JCG’s ownership level is above 50%, or JCG is the primary beneficiary, 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. (1) Carried at amortized cost and disclosed at fair value. 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 Capital Pty Limited (“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. VelocityShares The acquisition of VelocityShares in 2014 included contingent cash consideration. The payments are contingent on certain VelocityShares’ exchange traded products (“ETPs”) reaching defined net revenue targets on the first, second, third and fourth anniversaries of the acquisition, in amounts up to $10.0 million each for the first and second anniversaries, and $8.0 million each for the third and fourth anniversaries. The fair value of the contingent consideration is calculated on a quarterly basis by forecasting net ETP revenue, as defined by the purchase agreement, over the contingency period, and determining whether net ETP revenue targets are achieved. 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 ETP revenue would increase the fair value of the consideration, subject to payment limitations, while decreases in net ETP revenues would decrease the fair value. The fair value of the contingent cash consideration is included in the other accrued liabilities and other non-current liabilities on JCG’s Condensed Consolidated Balance Sheets. In November 2015, VelocityShares reached the defined net ETP revenue target and the Company paid the first contingent consideration amount of $10.0 million, which represents the maximum amount for the first anniversary. As of June 30, 2016, the total maximum payment over the remaining contingent consideration period is $26.0 million. Kapstream The July 2015 transaction to acquire a controlling 51% voting interest in Kapstream included contingent cash consideration. The contingent cash consideration is payable at 18 and 36 months after acquisition if certain Kapstream assets under management reach defined targets. The 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 fair value of the contingent cash consideration is included in the other accrued liabilities and other non-current liabilities on JCG’s Condensed Consolidated Balance Sheets. As of June 30, 2016, the total maximum payment over the remaining contingent consideration period is $9.3 million. The changes in fair value of JCG’s Level 3 items for the three months ended June 30, 2016 and 2015, are as follows (in millions): Three months ended June 30, 2016 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Kapstream contingent consideration Beginning of period fair value $ $ $ Distributions ) — — Current earnings — — Amortization of INTECH appreciation rights — — Foreign currency translation — — ) Change in fair value ) End of period fair value $ $ $ Three months ended June 30, 2015 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Seeded investment products Beginning of period fair value $ $ $ Distributions ) — — Current earnings — — Amortization of INTECH appreciation rights — — Change in fair value ) End of period fair value $ $ $ — The changes in fair value of JCG’s Level 3 items for the six months ended June 30, 2016, are as follows (in millions): Six months ended June 30, 2016 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Kapstream contingent consideration Beginning of period fair value $ $ $ Distributions ) — — Current earnings — — Amortization of INTECH appreciation rights — — Foreign currency translation — — Change in fair value ) ) End of period fair value $ $ $ The changes in fair value of JCG’s Level 3 items for the six months ended June 30, 2015, are as follows (in millions): Six months ended June 30, 2015 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Seeded investment products Beginning of period fair value $ $ $ — Distributions ) — — Current earnings — — Amortization of INTECH appreciation rights — — 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 2016, a certain seeded investment product was deconsolidated and its $7.9 million of Level 2 assets were reclassified to Level 1. Transfers are recognized at the end of each reporting period. Transfers between Level 1 and Level 2 classifications for the six months ended June 30, 2016 and 2015, are summarized as follows (in millions): June 30, 2016 2015 Transfers from Level 1 to Level 2 $ $ — Transfers from Level 2 to Level 1 $ $

DEBT

DEBT	6 Months Ended
	Jun. 30, 2016
DEBT
DEBT	Note 5 — Debt Debt at June 30, 2016, and December 31, 2015, consisted of the following (in millions): June 30, 2016 December 31, 2015 Carrying Fair Carrying Fair value value value value 4.875% Senior Notes due 2025 $ $ $ $ 0.750% Convertible Senior Notes due 2018 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. The 2025 Senior Notes include unamortized debt issuance costs and debt discount at June 30, 2016, of $2.3 million and $2.7 million, respectively, which will be amortized over the remaining life of the notes. The unamortized debt issuance costs and debt discount are recorded as a contra liability within long-term debt on the Condensed Consolidated Balance Sheets. 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 second quarter 2016 when JCG paid a quarterly cash dividend of $0.11 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 May 20, 2016, the conversion rate changed to 93.10 shares of JCG common stock per $1,000 principal amount of 2018 Convertible Notes, equivalent to a conversion price of approximately $10.74 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 June 30, 2016, the 2018 Convertible Notes met the criteria for early conversion and are convertible during the third quarter 2016. As such, the carrying value of the 2018 Convertible Notes was classified as current portion of long-term debt on JCG’s June 30, 2016, Condensed Consolidated Balance Sheet. 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. The 2018 Convertible Notes include unamortized debt issuance costs and debt discount at June 30, 2016, of $1.2 million and $6.2 million, respectively, which will be amortized over the remaining life of the notes. The unamortized debt issuance costs and debt discount are recorded as a contra liability within long-term debt on the Condensed Consolidated Balance Sheets. 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 second quarter 2016 when JCG paid a quarterly cash dividend of $0.11 per share. As a result of the quarterly cash dividend paid on May 20, 2016, 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 $10.74 per share of common stock, and the exercise price of the warrants changed to $12.46 per share of common stock. Credit Facility At June 30, 2016, 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 June 30, 2016, JCG was in compliance with all covenants, and there were no borrowings under the Credit Facility at June 30, 2016, or during the six months ended June 30, 2016. The Credit Facility has a maturity date of November 23, 2018.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2016
INCOME TAXES
INCOME TAXES	Note 6 — Income Taxes The Company’s effective tax rates for the three and six months ended June 30, 2016 and 2015, are as follows: Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Effective tax rate % % % % The changes in effective tax rates for the three and six month periods presented was due largely to a state tax refund which resulted in a benefit to the effective tax rates of 5.1% and 2.5% for the three and six months ended June 30, 2015, respectively. State statutory rate changes in the second quarter 2015 also affected the change in effective tax rates, increasing the three and six month 2015 effective tax rates by 2.8% and 1.4%, respectively. In addition, as of January 1, 2016, the Company’s statutory tax rate changed from 37.25% to 37.40% as a result of changes related to state taxes. As of June 30, 2016, JCG had $5.8 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 second quarter 2016, creating a net tax expense of $0.1 million. JCG anticipates that its income tax contingency reserves will decrease by approximately $1.8 million in the next 12 months, primarily from the expiration of statutes of limitations and the resolution of audits. Accrued reserves for income tax contingencies are presented in other accrued liabilities and other non-current liabilities on JCG’s Condensed Consolidated Balance Sheets.

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	6 Months Ended
	Jun. 30, 2016
NONCONTROLLING INTERESTS
NONCONTROLLING INTERESTS	Note 7 — Noncontrolling Interests Noncontrolling interests in net income for the three and six months ended June 30, 2016 and 2015, consisted of the following (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Redeemable noncontrolling interests in: Seeded investment products $ ) $ ) $ $ INTECH Nonredeemable noncontrolling interests in: Kapstream — — INTECH Total noncontrolling interests in net income $ $ $ $ Redeemable Noncontrolling Interests As of June 30, 2016, and December 31, 2015, redeemable noncontrolling interests are summarized as follows (in millions): June 30, December 31, 2016 2015 Consolidated seeded investment products: Consolidated VREs $ $ Consolidated VIEs — 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 redemptions 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 six months ended June 30, 2016 and 2015 (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Beginning of period balance $ $ $ $ Changes in market value: Consolidated VREs — ) — Consolidated VIEs ) — — Changes in ownership: Consolidated VREs ) Consolidated VIEs ) — — End of period balance $ $ $ $ INTECH INTECH ownership interests held by a founding member had an estimated fair value of $4.7 million and $5.2 million as of June 30, 2016, and December 31, 2015, respectively, representing approximately a 1.1% and 1.0% aggregate ownership of INTECH, respectively. 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 March 2016, February 2015 and October 2014 to retain and incentivize employees. The appreciation rights had a total grant date fair value of $27.8 million, which is being amortized on a straight-line basis over the respective vesting period. The appreciation rights 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 June 30, 2016, noncontrolling interests not subject to redemption rights included Kapstream ownership interests and employee ownership interests in INTECH. Nonredeemable noncontrolling interests as of June 30, 2016, and December 31, 2015, are summarized as follows (in millions): June 30, December 31, 2016 2015 Nonredeemable noncontrolling interests in: Kapstream $ $ INTECH Total nonredeemable noncontrolling interests $ $

LONG-TERM INCENTIVE COMPENSATIO

LONG-TERM INCENTIVE COMPENSATION	6 Months Ended
	Jun. 30, 2016
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 $1.6 million and $68.1 million in long-term incentive awards during the three and six months ended June 30, 2016, respectively, which generally vest and will be recognized ratably over a four-year period. The 2016 awards consisted of $39.7 million of restricted stock (3.2 million shares at a weighted-average price of $12.45 per share), $25.8 million of mutual fund share awards and $2.6 million of INTECH long-term incentive awards. During the three and six months ended June 30, 2016, JCG recognized $0.7 million and ($0.1) million of long-term incentive compensation expense (benefit) related to mark-to-market adjustments of mutual fund share awards and deferred compensation plans, respectively, and $0.6 million and $1.7 million during the same periods in 2015. Compensation expense associated with the INTECH appreciation rights, profit interests and phantom interests was $3.4 million and $7.8 million for the three and six months ended June 30, 2016, and $3.3 million and $7.3 million during the same periods in 2015, respectively.

OTHER INCOME (EXPENSE), NET

OTHER INCOME (EXPENSE), NET	6 Months Ended
	Jun. 30, 2016
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 six months ended June 30, 2016 and 2015, are as follows (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Dividend income $ $ $ $ Interest income Foreign currency gains (losses), net — ) ) Other, net — — — Total other income (expense), net $ $ ) $ $ )

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2016
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 six months ended June 30, 2016 and 2015, are as follows (in millions): Three months ended June 30, 2016 2015 Available-for-sale Foreign Available-for-sale Foreign securities currency Total securities currency Total Beginning balance $ ) $ ) $ ) $ $ ) $ ) Net current period other comprehensive income ) ) ) — ) Ending balance $ ) $ ) $ ) $ $ ) $ ) Six months ended June 30, 2016 2015 Available-for-sale Foreign Available-for-sale Foreign securities currency Total securities currency Total Beginning balance $ ) $ ) $ ) $ $ ) $ ) Net current period other comprehensive income ) — ) Ending balance $ ) $ ) $ ) $ $ ) $ ) The components of other comprehensive income (loss), net of tax for the three and six months ended June 30, 2016 and 2015, are as follows (in millions): Three months ended June 30, 2016 2015 Pre-tax amount Tax (expense) benefit Net amount Pre-tax amount Tax (expense) benefit Net amount Net unrealized gain on available-for-sale securities $ $ ) $ $ ) $ $ ) Foreign currency translation adjustments ) — ) — — — Total other comprehensive income $ ) $ ) $ ) $ ) $ $ ) Six months ended June 30, 2016 2015 Pre-tax amount Tax (expense) benefit Net amount Pre-tax amount Tax (expense) benefit Net amount Net unrealized gain on available-for-sale securities $ $ ) $ $ ) $ $ ) Foreign currency translation adjustments — — — — Total other comprehensive income $ $ ) $ $ ) $ $ )

EARNINGS AND DIVIDENDS PER SHAR

EARNINGS AND DIVIDENDS PER SHARE	6 Months Ended
	Jun. 30, 2016
EARNINGS AND DIVIDENDS PER SHARE
EARNINGS AND DIVIDENDS PER SHARE	Note 11 — Earnings and Dividends Per Share Earnings Per Share The following is a summary of the earnings per share calculation for the three and six months ended June 30, 2016 and 2015 (in millions, except per share data): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Net income attributable to JCG $ $ $ $ Less: Allocation of earnings to participating restricted stock awards Net income attributable to JCG common shareholders $ $ $ $ Weighted-average common shares outstanding - basic Diluted effect of: 2018 Convertible Notes Stock warrants Stock options, restricted stock and other Weighted-average common shares outstanding - diluted Earnings per share: Basic earnings per share $ $ $ $ Diluted earnings per share $ $ $ $ The following unvested nonparticipating restricted stock is anti-dilutive and has not been included in the weighted-average diluted shares outstanding calculation (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Unvested nonparticipating restricted stock — — — All shares held in the JCG Employee Stock Ownership Plan are treated as outstanding for purposes of computing basic earnings per share. Dividends Per Share The payment of cash dividends is within the discretion of JCG’s Board of Directors and depends on many factors, including, but not limited to, JCG’s results of operations, financial condition, capital requirements, restrictions imposed by financing arrangements, general business conditions and legal requirements. Dividends are subject to quarterly declaration by JCG’s Board of Directors. The following is a summary of cash dividends declared and paid for the three and six months ended June 30, 2016 and 2015: Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Dividends paid per share $ $ $ $ On April 21, 2016, JCG’s Board of Directors approved an increase of $0.02 per share, or 22%, in the Company’s regular quarterly dividend. On July 21, 2016, JCG’s Board of Directors declared a regular quarterly cash dividend of $0.11 per share. The quarterly dividend will be paid on August 19, 2016, to shareholders of record at the close of business on August 8, 2016.

LITIGATION AND OTHER REGULATORY

LITIGATION AND OTHER REGULATORY MATTERS	6 Months Ended
	Jun. 30, 2016
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.

CONSOLIDATION (Tables)

CONSOLIDATION (Tables)	6 Months Ended
	Jun. 30, 2016
Schedule of consolidated voting right entities (VREs)	The following table presents the balances related to these consolidated VREs that were recorded on JCG’s Condensed Consolidated Balance Sheets, including JCG’s net interest in these products (in millions): June 30, 2016 December 31, 2015 Investment securities $ $ Cash and cash equivalents — Accounts receivable — Other accrued liabilities ) — Total Noncontrolling interests in consolidated VREs ) ) JCG’s net interest in consolidated VREs $ $
Consolidated VIEs
Schedule of assets and liabilities	Consolidated VIE assets and liabilities are presented after intercompany eliminations at June 30, 2016, and December 31, 2015, in the following table (in millions): June 30, 2016 December 31, 2015 Investment securities $ $ — Cash and cash equivalents — Accounts receivable — Accounts payable and other accrued liabilities ) — Total — Noncontrolling interests in consolidated VIEs ) — JCG’s net interest in consolidated VIEs $ $ —

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2016
Summary of investment securities	JCG’s investment securities as of June 30, 2016, and December 31, 2015, are summarized as follows (in millions): June 30, December 31, 2016 2015 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	June 30, 2016 December 31, 2015 Fair value (in millions) Number of products Fair value (in millions) Number of products Mutual funds advised by the Company: Consolidated VREs $ $ Consolidated VIEs — — Unconsolidated VREs(1) Total mutual funds advised by the Company Separate accounts Pooled investment funds Total trading securities $ $ (1) Represents unconsolidated seeded investment products for which JCG’s ownership percentage is between 20% and 50%. The investments are classified as equity-method, which approximates fair value due to the nature of the underlying investments.
Schedule of net unrealized gains and (losses) on trading securities	Net unrealized gains (losses) on trading securities still held as of June 30, 2016 and 2015, are summarized as follows (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Net unrealized gains (losses) on trading securities still held at period end $ $ ) $ $ )
Seeded investment products classified as available-for-sale securities	June 30, 2016 December 31, 2015 Fair value (in millions) Number of products Fair value (in millions) Number of products Mutual funds advised by the Company: Unconsolidated VREs $ $ Unconsolidated VIEs — — Total mutual funds advised by the Company $ $
Summary of available-for-sale securities	The following is a summary of available-for-sale securities as of June 30, 2016, and December 31, 2015 (in millions): Gross unrealized Foreign investment currency Estimated Carrying Cost Gains Losses translation fair value value June 30, 2016: Unconsolidated VREs $ $ $ ) $ — $ $ Unconsolidated VIEs $ $ $ ) $ ) $ $ December 31, 2015: Unconsolidated VREs $ $ $ ) $ ) $ $ Unconsolidated VIEs $ — $ — $ — $ — $ — $ —
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 June 30, 2016, and December 31, 2015 (in millions): June 30, 2016 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Futures $ $ ) $ — $ — Liabilities: Index swaps $ $ — $ — $ Futures ) ) — Credit default swaps — ) Total $ $ ) $ ) $ December 31, 2015 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Futures $ $ ) $ — $ Liabilities: Index swaps $ $ — $ — $ Futures ) — — Credit default swaps — ) — Total $ $ ) $ ) $
Schedule of net gains (losses) in earnings on hedged seed investments on associated futures, credit default swaps and index swaps	JCG recognized the following net gains (losses) on hedged seeded investments and associated futures, credit default swaps and index swaps for the three and six months ended June 30, 2016 and 2015 (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Hedged seeded investments classified as trading securities(1) $ $ ) $ $ Hedged seeded investments classified as available-for-sale securities(1) ) ) Total hedged seeded investments ) Futures ) ) Credit default swaps — — ) — Index swaps ) ) ) ) Total $ $ ) $ — $
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 June 30, 2016 (in millions): June 30, 2016 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Swaps $ $ ) $ — $ Futures ) — Foreign currency forward contracts ) — Total $ $ ) $ — $ Liabilities: Swaps $ $ — $ ) $ — Futures ) — — Foreign currency forward contracts ) — — 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, 2015 (in millions): December 31, 2015 Gross amounts offset by Gross amounts derivative offset by cash Gross amounts instruments collateral Net amounts Assets: Swaps $ $ ) $ — $ Futures ) — — Foreign currency forward contracts ) — — Total $ $ ) $ — $ Liabilities: Swaps $ $ ) $ — $ — Futures ) ) — Foreign currency forward contracts ) — — Total $ $ ) $ ) $ —
Schedule of investment gains (losses), net on the Consolidated Statements of Comprehensive Income	Investment gains (losses), net on JCG’s Condensed Consolidated Statements of Comprehensive Income included the following for the three and six months ended June 30, 2016 and 2015 ( in millions ): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Seeded investment products accounted for as VREs $ $ ) $ $ Noncontrolling interests in seeded investment products accounted for as VREs ) ) Investments in advised mutual funds — Index swaps, credit default swaps and futures ) ) ) Economic hedge for deferred compensation plans ) Other — — Investment gains (losses), net $ $ ) $ $
Cash flows related to investment securities	Cash flows related to investment securities for the three and six months ended June 30, 2016 and 2015, are summarized as follows (in millions): Three months ended June 30, 2016 2015 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 $ ) $ $ ) $ Six months ended June 30, 2016 2015 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	June 30, 2016 December 31, 2015 Number of contracts Notional value (in millions) Number of contracts Notional value (in millions) Index swaps $ $ Futures $ $ Credit default swaps $ $
Seeded Investment Products
Schedule of derivative instruments	June 30, 2016 December 31, 2015 Number of contracts Notional value (in millions) Number of contracts Notional value (in millions) Swaps $ $ Futures $ $ Foreign currency forward contracts $ $ Options $ $ (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 and credit risk associated with fixed income products.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
FAIR VALUE MEASUREMENTS
Schedule of assets, liabilities and redeemable noncontrolling interests presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis	The following table presents assets, liabilities and redeemable noncontrolling interests presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of June 30, 2016 (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 — — Trading securities: Seeded investment products: Consolidated VREs — Consolidated VIEs — Unconsolidated VREs — — Separate accounts — Pooled investment funds — Investments in advised mutual funds — — Investments related to deferred compensation plans — — Available-for-sale securities: Seeded investment products: Unconsolidated VREs — — Unconsolidated VIEs — — Total investment securities — Total assets $ $ $ — $ Liabilities: Futures $ $ — $ — $ Index swaps — — 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, 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 — — Trading securities: Seeded investment products: Consolidated VREs — Unconsolidated VREs — — Separate accounts — Pooled investment funds — Investments in advised mutual funds — — Investments related to deferred compensation plans — — Available-for-sale securities: Seeded investment products: Unconsolidated VREs — — Total investment securities — Total assets $ $ $ — $ Liabilities: Index swaps $ — $ $ — $ 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.
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 months ended June 30, 2016 and 2015, are as follows (in millions): Three months ended June 30, 2016 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Kapstream contingent consideration Beginning of period fair value $ $ $ Distributions ) — — Current earnings — — Amortization of INTECH appreciation rights — — Foreign currency translation — — ) Change in fair value ) End of period fair value $ $ $ Three months ended June 30, 2015 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Seeded investment products Beginning of period fair value $ $ $ Distributions ) — — Current earnings — — Amortization of INTECH appreciation rights — — Change in fair value ) End of period fair value $ $ $ — The changes in fair value of JCG’s Level 3 items for the six months ended June 30, 2016, are as follows (in millions): Six months ended June 30, 2016 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Kapstream contingent consideration Beginning of period fair value $ $ $ Distributions ) — — Current earnings — — Amortization of INTECH appreciation rights — — Foreign currency translation — — Change in fair value ) ) End of period fair value $ $ $ The changes in fair value of JCG’s Level 3 items for the six months ended June 30, 2015, are as follows (in millions): Six months ended June 30, 2015 Redeemable noncontrolling interests in INTECH VelocityShares contingent consideration Seeded investment products Beginning of period fair value $ $ $ — Distributions ) — — Current earnings — — Amortization of INTECH appreciation rights — — 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 between Level 1 and Level 2 classifications for the six months ended June 30, 2016 and 2015, are summarized as follows (in millions): June 30, 2016 2015 Transfers from Level 1 to Level 2 $ $ — Transfers from Level 2 to Level 1 $ $

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2016
DEBT
Components of debt	Debt at June 30, 2016, and December 31, 2015, consisted of the following (in millions): June 30, 2016 December 31, 2015 Carrying Fair Carrying Fair value value value value 4.875% Senior Notes due 2025 $ $ $ $ 0.750% Convertible Senior Notes due 2018 Total Less: Current portion Total long-term debt $ $ $ $

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2016
INCOME TAXES
Schedule of effective income tax rates	Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Effective tax rate % % % %

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	6 Months Ended
	Jun. 30, 2016
NONCONTROLLING INTERESTS
Schedule of noncontrolling interests in net income	Noncontrolling interests in net income for the three and six months ended June 30, 2016 and 2015, consisted of the following (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Redeemable noncontrolling interests in: Seeded investment products $ ) $ ) $ $ INTECH Nonredeemable noncontrolling interests in: Kapstream — — INTECH Total noncontrolling interests in net income $ $ $ $
Summary of redeemable noncontrolling interests	As of June 30, 2016, and December 31, 2015, redeemable noncontrolling interests are summarized as follows (in millions): June 30, December 31, 2016 2015 Consolidated seeded investment products: Consolidated VREs $ $ Consolidated VIEs — INTECH: Appreciation rights Founding member ownership interests Undistributed earnings ) ) Total redeemable noncontrolling interests $ $
Schedule of rollforward of noncontrolling interests in consolidated seeded investment products	The following table presents a rollforward of noncontrolling interests in consolidated seeded investment products for the three and six months ended June 30, 2016 and 2015 (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Beginning of period balance $ $ $ $ Changes in market value: Consolidated VREs — ) — Consolidated VIEs ) — — Changes in ownership: Consolidated VREs ) Consolidated VIEs ) — — End of period balance $ $ $ $
Summary of nonredeemable noncontrolling interests	Nonredeemable noncontrolling interests as of June 30, 2016, and December 31, 2015, are summarized as follows (in millions): June 30, December 31, 2016 2015 Nonredeemable noncontrolling interests in: Kapstream $ $ INTECH Total nonredeemable noncontrolling interests $ $

OTHER INCOME (EXPENSE), NET (Ta

OTHER INCOME (EXPENSE), NET (Tables)	6 Months Ended
	Jun. 30, 2016
OTHER INCOME (EXPENSE), NET
Other income, net	The components of other income (expense), net for the three and six months ended June 30, 2016 and 2015, are as follows (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Dividend income $ $ $ $ Interest income Foreign currency gains (losses), net — ) ) Other, net — — — Total other income (expense), net $ $ ) $ $ )

ACCUMULATED OTHER COMPREHENSI26

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2016
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 six months ended June 30, 2016 and 2015, are as follows (in millions): Three months ended June 30, 2016 2015 Available-for-sale Foreign Available-for-sale Foreign securities currency Total securities currency Total Beginning balance $ ) $ ) $ ) $ $ ) $ ) Net current period other comprehensive income ) ) ) — ) Ending balance $ ) $ ) $ ) $ $ ) $ ) Six months ended June 30, 2016 2015 Available-for-sale Foreign Available-for-sale Foreign securities currency Total securities currency Total Beginning balance $ ) $ ) $ ) $ $ ) $ ) Net current period other comprehensive income ) — ) Ending balance $ ) $ ) $ ) $ $ ) $ )
Components of other comprehensive income, net of tax	The components of other comprehensive income (loss), net of tax for the three and six months ended June 30, 2016 and 2015, are as follows (in millions): Three months ended June 30, 2016 2015 Pre-tax amount Tax (expense) benefit Net amount Pre-tax amount Tax (expense) benefit Net amount Net unrealized gain on available-for-sale securities $ $ ) $ $ ) $ $ ) Foreign currency translation adjustments ) — ) — — — Total other comprehensive income $ ) $ ) $ ) $ ) $ $ ) Six months ended June 30, 2016 2015 Pre-tax amount Tax (expense) benefit Net amount Pre-tax amount Tax (expense) benefit Net amount Net unrealized gain on available-for-sale securities $ $ ) $ $ ) $ $ ) Foreign currency translation adjustments — — — — Total other comprehensive income $ $ ) $ $ ) $ $ )

EARNINGS AND DIVIDENDS PER SH27

EARNINGS AND DIVIDENDS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2016
EARNINGS AND DIVIDENDS PER SHARE
Summary of earnings per share calculation	The following is a summary of the earnings per share calculation for the three and six months ended June 30, 2016 and 2015 (in millions, except per share data): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Net income attributable to JCG $ $ $ $ Less: Allocation of earnings to participating restricted stock awards Net income attributable to JCG common shareholders $ $ $ $ Weighted-average common shares outstanding - basic Diluted effect of: 2018 Convertible Notes Stock warrants Stock options, restricted stock and other Weighted-average common shares outstanding - diluted Earnings per share: Basic earnings per share $ $ $ $ Diluted earnings per share $ $ $ $
Schedule of anti-dilutive securities that have not been included in the calculation of weighted average diluted shares outstanding	The following unvested nonparticipating restricted stock is anti-dilutive and has not been included in the weighted-average diluted shares outstanding calculation (in millions): Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Unvested nonparticipating restricted stock — — —
Schedule of cash dividends declared and paid	Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Dividends paid per share $ $ $ $

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Basis of Presentation
Net investing activities	$ 11.7	$ (149.6)
Net financing activities	(96.4)	(28.3)
Other current assets	54.6		$ 40
Other non-current assets	12.4		4.4
Current portion of long-term debt	109.2		107.5
Long-term debt	$ 295		294.8
Accounting Standards Update 2015-03
Basis of Presentation
Other current assets			(1.4)
Other non-current assets			(2.4)
Current portion of long-term debt			(1.4)
Long-term debt			$ (2.4)
Previously reported
Basis of Presentation
Net investing activities		(124.8)
Net financing activities		(53.1)
Adjustment
Basis of Presentation
Net investing activities		(24.8)
Net financing activities		$ 24.8

CONSOLIDATION - VIEs (Details)

CONSOLIDATION - VIEs (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)item	Dec. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Cash and cash equivalents	$ 337.1	$ 364.4	$ 299.2	$ 452.5
Accounting Standards Update 2015-02
Number of seeded investment products consolidated | item	5
Consolidated VIEs
Investment securities	$ 49.2
Cash and cash equivalents	2.2
Accounts receivable	1
Accounts payable and other accrued liabilities	(1.2)
Total VIE assets and liabilities	51.2
Noncontrolling interests in consolidated VIEs	(20.3)
JCG's net interest in consolidated VIEs	30.9
Unconsolidated VIEs
Investment securities	$ 7.5

CONSOLIDATION - VREs (Details)

CONSOLIDATION - VREs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Cash and cash equivalents		$ 337.1	$ 364.4	$ 299.2	$ 452.5
Consolidated VREs
VRE voting equity interest	50.00%
Investment securities		6.2	34.5
Cash and cash equivalents			1.2
Accounts receivable		0.1
Other accrued liabilities		(0.1)
Total VRE assets and liabilities		6.2	35.7
Noncontrolling interests in consolidated VREs		(1.3)	(13.8)
JCG's net interest in consolidated VREs		$ 4.9	$ 21.9

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)contractinstrumentitem	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)contractinstrumentitem	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)contractinstrumentitem
Short-term investments:
Estimated Fair Value	$ 316.5		$ 316.5		$ 327.1
Available-for-sale securities.
OTTI charges			0	$ 0
Net gains (losses):
Total	0.2	$ (1.4)		0.2
Net gains (losses) in net income related to:
Investment gains (losses), net	0.7	(3.1)	2.9	1.3
Cash flows related to investment securities
Purchases and settlements	(25.9)	(47.5)	(49.6)	(61.9)
Sales, settlements and maturities	7	27.1	63.4	30.4
Seeded Investment Products
Available-for-sale securities.
Purchases and settlements	2.4		2.4		1.1
Net gains (losses):
Total hedged seed investments	3.7	(3.3)	7.1	1.3
Investments related to deferred compensation plans
Net gains (losses) in net income related to:
Investment gains (losses), net	0.3	(0.1)	0.3	0.2
Other Investment Securities
Net gains (losses) in net income related to:
Investment gains (losses), net	0.4		0.4
Investments in advised funds
Net gains (losses) in net income related to:
Investment gains (losses), net	0.1		0.2	0.1
Index Swaps, Credit default Swaps and Futures Contract
Net gains (losses) in net income related to:
Investment gains (losses), net	(3.7)	1.9	(7.3)	(1.1)
Consolidated VREs | Seeded Investment Products
Net gains (losses) in net income related to:
Investment gains (losses), net	3.8	(4.8)	8.9	1.1
Consolidated VREs | Noncontrolling interests in seeded investment products
Net gains (losses) in net income related to:
Investment gains (losses), net	(0.2)	(0.1)	0.4	1
Consolidated VIEs
Net gains (losses) in net income related to:
Investment gains (losses), net			(0.5)
Cash flows related to investment securities
Purchases and settlements			(15.4)
Sales, settlements and maturities			49.2
Trading Securities
Short-term investments:
Estimated Fair Value	239.6		239.6		256.1
Cash flows related to investment securities
Purchases and settlements	(18.9)	(35.6)	(33.3)	(46)
Sales, settlements and maturities	4.3	23.8	58.4	25.9
Trading Securities | Seeded Investment Products
Short-term investments:
Estimated Fair Value	$ 218.5		$ 218.5		$ 235.6
Number of separately managed accounts | item	59		59		50
Net unrealized gains (losses) on trading securities still held at period end	$ 2.8	(8.8)	$ 6.6	(3.1)
Net gains (losses):
Total hedged seed investments	3.6	(2.8)	7	1.7
Trading Securities | Mutual Fund Share Awards
Short-term investments:
Estimated Fair Value	$ 116.1		$ 116.1		$ 135.4
Number of separately managed accounts | item	16		16		15
Trading Securities | Pooled investment funds
Short-term investments:
Estimated Fair Value	$ 10.1		$ 10.1		$ 13.4
Number of separately managed accounts | item	15		15		10
Trading Securities | Investments related to deferred compensation plans
Short-term investments:
Estimated Fair Value	$ 16.7		$ 16.7		$ 16.3
Trading Securities | Separate accounts
Short-term investments:
Estimated Fair Value	$ 92.3		$ 92.3		$ 86.8
Number of separately managed accounts | item	28		28		25
Trading Securities | Investments in advised funds
Short-term investments:
Estimated Fair Value	$ 4.4		$ 4.4		$ 4.2
Trading Securities | Consolidated VREs | Mutual Fund Share Awards
Short-term investments:
Estimated Fair Value	$ 6.2		$ 6.2		$ 35.7
Number of separately managed accounts | item	1		1		8
Trading Securities | Consolidated VIEs | Mutual Fund Share Awards
Short-term investments:
Estimated Fair Value	$ 49.2		$ 49.2
Number of separately managed accounts | item	10		10
Trading Securities | Unconsolidated VREs | Mutual Fund Share Awards
Short-term investments:
Estimated Fair Value	$ 60.7		$ 60.7		$ 99.7
Number of separately managed accounts | item	5		5		7
Trading Securities | Unconsolidated VREs | Investments in advised funds | Minimum
Short-term investments:
Ownership percentage	20.00%		20.00%		20.00%
Trading Securities | Unconsolidated VREs | Investments in advised funds | Maximum
Short-term investments:
Ownership percentage	50.00%		50.00%		50.00%
Available-for-sale Securities
Cash flows related to investment securities
Purchases and settlements	$ (0.7)	(10.5)	$ (1.1)	(10.8)
Sales, settlements and maturities	0.1		0.1
Available-for-sale Securities | Seeded Investment Products
Short-term investments:
Seeded investment products	76.9		76.9		$ 71
Net gains (losses):
Total hedged seed investments	0.1	(0.5)	0.1	(0.4)
Available-for-sale Securities | Investments in advised funds
Short-term investments:
Estimated Fair Value	$ 76.9		$ 76.9		$ 71
Number of portfolios of funds | item	46		46		41
Available-for-sale Securities | Unconsolidated VREs
Short-term investments:
Estimated Fair Value	$ 69.4		$ 69.4		$ 71
Available-for-sale securities.
Available-for-sale Securities, Amortized Cost Basis, Total	70.8		70.8		75
Available-for-sale securities, Gross unrealized gains	0.1		0.1		0.3
Available-for-sale securities, Gross unrealized losses	(1.5)		(1.5)		(3.9)
Foreign currency translation					(0.4)
Available-for-sale securities, Estimated fair value	69.4		69.4		71
Available-for-sale Securities | Unconsolidated VREs | Investments in advised funds
Short-term investments:
Estimated Fair Value	$ 69.4		$ 69.4		$ 71
Number of portfolios of funds | item	23		23		41
Available-for-sale Securities | Unconsolidated VIEs
Short-term investments:
Estimated Fair Value	$ 7.5		$ 7.5
Available-for-sale securities.
Available-for-sale Securities, Amortized Cost Basis, Total	8.9		8.9
Available-for-sale securities, Gross unrealized gains	0.2		0.2
Available-for-sale securities, Gross unrealized losses	(1.2)		(1.2)
Foreign currency translation	(0.4)		(0.4)
Available-for-sale securities, Estimated fair value	7.5		7.5
Available-for-sale Securities | Unconsolidated VIEs | Investments in advised funds
Short-term investments:
Estimated Fair Value	$ 7.5		$ 7.5
Number of portfolios of funds | item	23		23
Derivative Instruments | Seed capital economic hedge
Cash flows related to investment securities
Purchases and settlements	$ (6.3)	(1.4)	$ (15.2)	(5.1)
Sales, settlements and maturities	2.6	3.3	4.9	4.5
Cash Collateral | Seeded Investment Products
Available-for-sale securities.
Purchases and settlements	0.9		0.9		$ 4.7
Index Swap
Net gains (losses):
Gains (losses) on derivatives not designated as hedging	(0.1)	(0.3)	(0.4)	(1.7)
Index Swap | Seeded Investment Products
Available-for-sale securities.
Purchases and settlements	$ 0.6		$ 0.6		$ 0.9
Index Swap | Derivative Instruments | Not Designated as Hedging Instrument
Available-for-sale securities.
Number of positions of derivative | contract	1		1		6
Notional value of derivative	$ 5		$ 5		$ 34.4
Index Swap | Derivative Instruments | Seeded Investment Products
Available-for-sale securities.
Number of positions of derivative | instrument	88		88		96
Notional value of derivative	$ 27.1		$ 27.1		$ 40.9
Credit Default Swap
Net gains (losses):
Gains (losses) on derivatives not designated as hedging			$ (0.3)
Credit Default Swap | Derivative Instruments | Not Designated as Hedging Instrument
Available-for-sale securities.
Number of positions of derivative | contract	2		2		2
Notional value of derivative	$ 151.5		$ 151.5		$ 66.5
Foreign Currency Forward Contracts | Seeded Investment Products
Available-for-sale securities.
Purchases and settlements	$ 0.8		$ 0.8		$ 0.1
Foreign Currency Forward Contracts | Derivative Instruments | Seeded Investment Products
Available-for-sale securities.
Number of positions of derivative | instrument	135		135		61
Notional value of derivative	$ 13.4		$ 13.4		$ 9.9
Futures
Available-for-sale securities.
Purchases and settlements	0.3		0.3		0.3
Futures | Seeded Investment Products
Available-for-sale securities.
Purchases and settlements	$ 1		$ 1		$ 0.1
Futures | Derivative Instruments | Not Designated as Hedging Instrument
Available-for-sale securities.
Number of positions of derivative | contract	46		46		38
Notional value of derivative	$ 150.1		$ 150.1		$ 91.7
Futures | Derivative Instruments | Seeded Investment Products
Available-for-sale securities.
Number of positions of derivative | instrument	115		115		75
Notional value of derivative	$ 40		$ 40		$ 20.8
Option | Derivative Instruments | Seeded Investment Products
Available-for-sale securities.
Number of positions of derivative | instrument	57		57		66
Notional value of derivative	$ 0.1		$ 0.1		$ 0.2
Futures
Net gains (losses):
Gains (losses) on derivatives not designated as hedging	$ (3.4)	$ 2.2	$ (6.4)	$ 0.6

INVESTMENT SECURITIES - OFFSETT

INVESTMENT SECURITIES - OFFSETTING DERIVATIVES (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Liabilities
Gross amounts, Liabilities	$ 5.6	$ 0.7
Gross amounts offset, Liabilities	(0.3)	(0.1)
Gross amounts offset by cash collateral	(5.1)	(0.5)
Net amount, Liabilities	0.2	0.1
Index Swap
Liabilities
Gross amounts, Liabilities	0.1	0.1
Net amount, Liabilities	0.1	0.1
Futures and Credit Default Swaps
Assets
Gross amounts	6.4	3.3
Futures
Assets
Gross amounts	0.3	0.3
Gross amounts offset by derivative instruments	(0.3)	(0.1)
Net amount, Assets		0.2
Liabilities
Gross amounts, Liabilities	3.6	0.1
Gross amounts offset, Liabilities	(0.3)	(0.1)
Gross amounts offset by cash collateral	(3.3)
Credit Default Swap
Liabilities
Gross amounts, Liabilities	1.9	0.5
Gross amounts offset by cash collateral	(1.8)	(0.5)
Net amount, Liabilities	0.1
Seeded Investment Products
Assets
Gross amounts	2.4	1.1
Gross amounts offset by derivative instruments	(0.9)	(0.7)
Net amount, Assets	1.5	0.4
Liabilities
Gross amounts, Liabilities	0.9	1
Gross amounts offset, Liabilities	(0.8)	(0.8)
Gross amounts offset by cash collateral	(0.1)	(0.2)
Seeded Investment Products | Index Swap
Assets
Gross amounts	0.6	0.9
Gross amounts offset by derivative instruments	(0.1)	(0.5)
Net amount, Assets	0.5	0.4
Liabilities
Gross amounts, Liabilities	0.1	0.6
Gross amounts offset, Liabilities		(0.6)
Gross amounts offset by cash collateral	(0.1)
Seeded Investment Products | Futures
Assets
Gross amounts	1	0.1
Gross amounts offset by derivative instruments	(0.5)	(0.1)
Net amount, Assets	0.5
Liabilities
Gross amounts, Liabilities	0.5	0.3
Gross amounts offset, Liabilities	(0.5)	(0.1)
Gross amounts offset by cash collateral		(0.2)
Seeded Investment Products | Foreign Currency Forward Contracts
Assets
Gross amounts	0.8	0.1
Gross amounts offset by derivative instruments	(0.3)	(0.1)
Net amount, Assets	0.5
Liabilities
Gross amounts, Liabilities	0.3	0.1
Gross amounts offset, Liabilities	(0.3)	(0.1)
Seeded Investment Products | Cash Collateral
Assets
Gross amounts	0.9	$ 4.7
Seeded Investment Products | Consolidated | Credit default swap, selling protection contracts
Seeded investment products, credit protection
Notional value of derivative	$ 5.1
Seeded Investment Products | Consolidated | Credit default swap, selling protection contracts | Minimum
Seeded investment products, credit protection
Term of credit default swap contracts (in years)	1 year
Seeded Investment Products | Consolidated | Credit default swap, selling protection contracts | Maximum
Seeded investment products, credit protection
Term of credit default swap contracts (in years)	5 years
Fair value of credit default swap contracts	$ 0.1

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Liabilities
Derivative liabilities	$ 0.2		$ 0.1
Redeemable noncontrolling interests	30.3		21.8
Index Swap
Liabilities
Derivative liabilities	0.1		0.1
Futures
Assets
Derivative assets			0.2
Credit Default Swap
Liabilities
Derivative liabilities	0.1
Seeded Investment Products
Assets
Derivative assets	1.5		0.4
Seeded Investment Products | Index Swap
Assets
Derivative assets	0.5		0.4
Seeded Investment Products | Futures
Assets
Derivative assets	$ 0.5
Trading Securities | Seeded Investment Products | Minimum
Liabilities
Minimum controlling interest required for consolidation (as a percent)	50.00%
Trading Securities | Seeded Investment Products | Maximum
Liabilities
Ownership percentage to classify security as level 1	50.00%
Consolidated | Seeded Investment Products
Liabilities
Redeemable noncontrolling interests	$ 21.6	$ 21.2	13.8	$ 21.4	$ 17.8	$ 41.1
Consolidated VREs
Assets
Total investment securities	6.2		34.5
Consolidated VREs | Seeded Investment Products
Liabilities
Redeemable noncontrolling interests	1.3		$ 13.8
Consolidated VIEs
Assets
Total investment securities	49.2
Consolidated VIEs | Seeded Investment Products
Liabilities
Redeemable noncontrolling interests	$ 20.3
Unconsolidated VREs | Trading Securities | Investments in advised funds | Minimum
Liabilities
Ownership percentage	20.00%		20.00%
Unconsolidated VREs | Trading Securities | Investments in advised funds | Maximum
Liabilities
Ownership percentage	50.00%		50.00%
Unconsolidated VIEs
Assets
Total investment securities	$ 7.5
INTECH founding member ownership interests
Liabilities
Redeemable noncontrolling interests	4.7		$ 5.2
Fair Value, Measurements, Recurring
Assets
Cash equivalents	235		246.9
Total investment securities	316.5		327.1
Total assets	551.8		574.3
Liabilities
Current portion of long-term debt	157.7		158.6
Long-term debt	327		307.6
Total liabilities	514.2		486.9
Redeemable noncontrolling interests	30.3		21.8
Fair Value, Measurements, Recurring | Kapstream
Liabilities
Contingent consideration	6.6		6.9
Fair Value, Measurements, Recurring | VelocityShares
Liabilities
Contingent consideration	17.3		13.1
Fair Value, Measurements, Recurring | Index Swap
Liabilities
Derivative liabilities	0.1		0.1
Fair Value, Measurements, Recurring | Futures
Assets
Derivative assets	0.3		0.3
Liabilities
Derivative liabilities	3.6		0.1
Fair Value, Measurements, Recurring | Credit Default Swap
Liabilities
Derivative liabilities	1.9		0.5
Fair Value, Measurements, Recurring | Seeded Investment Products | Pooled investment funds
Assets
Trading securities	10.1		13.4
Fair Value, Measurements, Recurring | Investments in advised funds
Assets
Trading securities	4.4		4.2
Fair Value, Measurements, Recurring | Investments related to deferred compensation plans
Assets
Trading securities	16.7		16.3
Fair Value, Measurements, Recurring | Consolidated | Seeded Investment Products
Liabilities
Redeemable noncontrolling interests	21.6		13.8
Fair Value, Measurements, Recurring | Consolidated VREs | Seeded Investment Products
Assets
Trading securities	6.2		35.7
Fair Value, Measurements, Recurring | Consolidated VIEs | Seeded Investment Products
Assets
Trading securities	49.2
Fair Value, Measurements, Recurring | Unconsolidated VREs | Seeded Investment Products
Assets
Trading securities	60.7		99.7
Available-for-sale securities, Estimated fair value	69.4		71
Fair Value, Measurements, Recurring | Unconsolidated VIEs | Seeded Investment Products
Assets
Available-for-sale securities, Estimated fair value	7.5
Fair Value, Measurements, Recurring | Separate accounts | Seeded Investment Products
Assets
Trading securities	92.3		86.8
Fair Value, Measurements, Recurring | INTECH founding member ownership interests
Liabilities
Redeemable noncontrolling interests	8.7		8
Fair Value, Measurements, Recurring | Level 1
Assets
Cash equivalents	50.7		57.4
Total investment securities	217.6		261.9
Total assets	268.6		319.6
Liabilities
Total liabilities	5.6		0.1
Redeemable noncontrolling interests	5.9		6.1
Fair Value, Measurements, Recurring | Level 1 | Index Swap
Liabilities
Derivative liabilities	0.1
Fair Value, Measurements, Recurring | Level 1 | Futures
Assets
Derivative assets	0.3		0.3
Liabilities
Derivative liabilities	3.6		0.1
Fair Value, Measurements, Recurring | Level 1 | Credit Default Swap
Liabilities
Derivative liabilities	1.9
Fair Value, Measurements, Recurring | Level 1 | Seeded Investment Products | Pooled investment funds
Assets
Trading securities	2.2		13.1
Fair Value, Measurements, Recurring | Level 1 | Investments in advised funds
Assets
Trading securities	4.4		4.2
Fair Value, Measurements, Recurring | Level 1 | Investments related to deferred compensation plans
Assets
Trading securities	16.7		16.3
Fair Value, Measurements, Recurring | Level 1 | Consolidated | Seeded Investment Products
Liabilities
Redeemable noncontrolling interests	5.9		6.1
Fair Value, Measurements, Recurring | Level 1 | Consolidated VREs | Seeded Investment Products
Assets
Trading securities	1.4		10.9
Fair Value, Measurements, Recurring | Level 1 | Consolidated VIEs | Seeded Investment Products
Assets
Trading securities	13.1
Fair Value, Measurements, Recurring | Level 1 | Unconsolidated VREs | Seeded Investment Products
Assets
Trading securities	60.7		99.7
Available-for-sale securities, Estimated fair value	69.4		71
Fair Value, Measurements, Recurring | Level 1 | Unconsolidated VIEs | Seeded Investment Products
Assets
Available-for-sale securities, Estimated fair value	7.5
Fair Value, Measurements, Recurring | Level 1 | Separate accounts | Seeded Investment Products
Assets
Trading securities	42.2		46.7
Fair Value, Measurements, Recurring | Level 2
Assets
Cash equivalents	184.3		189.5
Total investment securities	98.9		65.2
Total assets	283.2		254.7
Liabilities
Current portion of long-term debt	157.7		158.6
Long-term debt	327		307.6
Total liabilities	484.7		466.8
Redeemable noncontrolling interests	15.7		7.7
Fair Value, Measurements, Recurring | Level 2 | Index Swap
Liabilities
Derivative liabilities			0.1
Fair Value, Measurements, Recurring | Level 2 | Credit Default Swap
Liabilities
Derivative liabilities			0.5
Fair Value, Measurements, Recurring | Level 2 | Seeded Investment Products | Pooled investment funds
Assets
Trading securities	7.9		0.3
Fair Value, Measurements, Recurring | Level 2 | Consolidated | Seeded Investment Products
Liabilities
Redeemable noncontrolling interests	15.7		7.7
Fair Value, Measurements, Recurring | Level 2 | Consolidated VREs | Seeded Investment Products
Assets
Trading securities	4.8		24.8
Fair Value, Measurements, Recurring | Level 2 | Consolidated VIEs | Seeded Investment Products
Assets
Trading securities	36.1
Fair Value, Measurements, Recurring | Level 2 | Separate accounts | Seeded Investment Products
Assets
Trading securities	50.1		40.1
Fair Value, Measurements, Recurring | Level 3
Liabilities
Total liabilities	23.9		20
Redeemable noncontrolling interests	8.7		8
Fair Value, Measurements, Recurring | Level 3 | Kapstream
Liabilities
Contingent consideration	6.6		6.9
Fair Value, Measurements, Recurring | Level 3 | VelocityShares
Liabilities
Contingent consideration	17.3		13.1
Fair Value, Measurements, Recurring | Level 3 | INTECH founding member ownership interests
Liabilities
Redeemable noncontrolling interests	$ 8.7		$ 8

FAIR VALUE MEASUREMENTS - LEVEL

FAIR VALUE MEASUREMENTS - LEVEL 3 (Details) - USD ($) $ in Millions	Jul. 01, 2015	Nov. 30, 2015	Jun. 30, 2016
VelocityShares | Level 3
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved			$ 26
Cash paid for contingent consideration		$ 10
VelocityShares | First Anniversary | Level 3
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved			10
VelocityShares | Second Anniversary | Level 3
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved			10
VelocityShares | Third Anniversary | Level 3
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved			8
VelocityShares | Fourth Anniversary | Level 3
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved			8
Kapstream
Fair value measurements
Ownership interest acquired (as a percent)	51.00%
Kapstream | Level 3
Fair value measurements
Contingent cash consideration if certain revenue targets are achieved			$ 9.3
Contingent consideration payable period, low	18 months
Contingent consideration payable period, high end	36 months

FAIR VALUE MEASUREMENTS - LEV35

FAIR VALUE MEASUREMENTS - LEVEL 3 ROLLFORWARD (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Changes in fair value
Distributions			$ (1.1)	$ (0.9)
Purchase of redeemable noncontrolling interests				(0.1)
Change in fair value			0.5	(0.2)
Level 3 | Fair Value, Measurements, Recurring | Seeded Investment Products
Changes in fair value
Balance at the beginning of the year, Liability Value		$ 0.2
Change in fair value		(0.2)
Level 3 | Fair Value, Measurements, Recurring | INTECH founding member ownership interests
Changes in fair value
Balance at the beginning of the year, Liability Value	$ 7.8	5.3	8	5.4	$ 5.4
Distributions	(0.4)	(0.4)	(0.6)	(0.6)
Current earnings	0.1	0.1	0.3	0.3
Amortization of INTECH appreciation rights	0.8	1.9	1.5	1.9
Change in fair value	0.4	0.3	(0.5)	0.2
Balance at the end of the year, Liability Value	8.7	7.2	8.7	7.2	8
VelocityShares | Level 3 | Fair Value, Measurements, Recurring
Changes in fair value
Balance at the beginning of the year, Liability Value	16.3	18.1	13.1	17.9	17.9
Change in fair value	1	0.4	4.2	0.6
Balance at the end of the year, Liability Value	17.3	$ 18.5	17.3	$ 18.5	13.1
Kapstream | Level 3 | Fair Value, Measurements, Recurring
Changes in fair value
Balance at the beginning of the year, Liability Value	7.4		6.9
Foreign currency translation losses	(0.2)		0.2
Change in fair value	(0.6)		(0.5)
Balance at the end of the year, Liability Value	$ 6.6		$ 6.6		$ 6.9

FAIR VALUE MEASUREMENTS - TRANS

FAIR VALUE MEASUREMENTS - TRANSFERS BETWEEN LEVELS (Details) - USD ($) $ in Millions	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015
FAIR VALUE MEASUREMENTS
Transfers from Level 1 to Level 2	$ 3.7
Transfers from Level 2 to Level 1	$ 8.1	$ 7.9	$ 47.2

DEBT (Details)

DEBT (Details) $ / shares in Units, $ in Millions	May 20, 2016$ / shares	Jun. 30, 2013$ / shares	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2015$ / shares	Jun. 30, 2013$ / shares	Jun. 30, 2016USD ($)item$ / shares	Jun. 30, 2015$ / shares	Mar. 31, 2016$ / shares	Dec. 31, 2015USD ($)	Jul. 31, 2015USD ($)
Components of debt
Less: Current portion			$ 109.2			$ 109.2			$ 107.5
Total long-term debt			$ 295			$ 295			294.8
Other Disclosures
Quarterly cash dividend per share paid (in dollars per share) | $ / shares	$ 0.11		$ 0.11	$ 0.09	$ 0.07	$ 0.20	$ 0.17
Carrying value
Components of debt
Total			$ 404.2			$ 404.2			402.3
Less: Current portion			109.2			109.2			107.5
Total long-term debt			295			295			294.8
Fair Value
Components of debt
Total			484.7			484.7			466.2
Less: Current portion			157.7			157.7			158.6
Total long-term debt			$ 327			$ 327			307.6
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
Unamortized discount			$ 2.7			$ 2.7
Debt issuance cost						2.3
4.875% Senior Notes due 2025 | Carrying value
Components of debt
Total			295			295			294.8
4.875% Senior Notes due 2025 | Fair Value
Components of debt
Total			$ 327			$ 327			307.6
0.750% Convertible Senior Notes due 2018
Components of debt
Interest rate (as a percent)			0.75%			0.75%
Other Disclosures
Unamortized discount			$ 6.2			$ 6.2
Debt issuance cost						$ 1.2
Conversion rate, shares per $1,000 principal amount		92.06				93.10
Adjusted conversion price per share of common stock (in dollars per share) | $ / shares		$ 10.86	$ 10.74		10.86	$ 10.74		$ 10.74
Quarterly cash dividend per share paid (in dollars per share) | $ / shares	$ 0.11				0.07
Percentage of the conversion price that the last reported sales price of the entity's common stock must equal or exceed as per conversion eligibility terms						130.00%
Number of trading days within 30 consecutive trading days required per the conversion eligibility terms, minimum | item						20
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	$ 12.46		$ 12.60	$ 12.46
0.750% Convertible Senior Notes due 2018 | Carrying value
Components of debt
Total			$ 109.2			$ 109.2			107.5
0.750% Convertible Senior Notes due 2018 | Fair Value
Components of debt
Total			157.7			157.7			$ 158.6
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
Borrowings under the Credit Facility during the period						$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	Jan. 01, 2016	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
INCOME TAXES
Effective tax rate (as a percent)		37.80%	35.50%		38.50%	36.10%
Increase (decrease) in effective rate from state tax refund (as a percent)			(5.10%)			(2.50%)
Increase (decrease) in effective rate from state statutory rate changes				2.80%		1.40%
Statutory rate (as a percent)	37.40%						37.25%
Reserves for income tax contingencies		$ 5.8			$ 5.8
Accrual of additional reserves for income tax contingencies		0.2
Net tax expense related to accrued additional reserves in income tax contingency reserves		0.1
Anticipated decrease in income tax contingency reserves in the next 12 months		$ 1.8			$ 1.8

NONCONTROLLING INTERESTS - NONR

NONCONTROLLING INTERESTS - NONREDEEMABLE (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Noncontrolling interests in net income
Total noncontrolling interests in net income	$ 1.2	$ 0.2	$ 3.1	$ 1.8
Nonredeemable noncontrolling interests
Total nonredeemable noncontrolling interests	93.2		93.2		$ 89.4
Seeded Investment Products
Noncontrolling interests in net income
Redeemable noncontrolling interests	(0.2)	(0.1)	0.4	1
INTECH
Noncontrolling interests in net income
Redeemable noncontrolling interests	0.1	0.1	0.3	0.3
Nonredeemable noncontrolling interests	0.1	$ 0.2	0.4	$ 0.5
Nonredeemable noncontrolling interests
Total nonredeemable noncontrolling interests	6.1		6.1		6.5
Kapstream
Noncontrolling interests in net income
Nonredeemable noncontrolling interests	1.2		2
Nonredeemable noncontrolling interests
Total nonredeemable noncontrolling interests	$ 87.1		$ 87.1		$ 82.9

NONCONTROLLING INTERESTS - REDE

NONCONTROLLING INTERESTS - REDEEMABLE (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended	21 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Jun. 30, 2016
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Beginning of period balance			$ 21.8
End of period balance	$ 30.3		30.3		$ 21.8	$ 30.3
INTECH
Redeemable Noncontrolling Interests
INTECH appreciation rights			4.9		3.4
INTECH undistributed earnings	(0.9)		(0.9)		(0.6)	(0.9)
INTECH | Appreciation Rights
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Long-term incentive awards granted						27.8
INTECH founding member ownership interests
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Beginning of period balance			5.2
End of period balance	$ 4.7		$ 4.7		$ 5.2	$ 4.7
Remaining interest (as a percent)	1.10%		1.10%		1.00%	1.10%
Consolidated VREs | Seeded Investment Products
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Beginning of period balance			$ 13.8
Change in market value		$ (0.1)		$ 1
Change in ownership	$ 9.5	3.7	0.9	(20.7)
End of period balance	1.3		1.3		$ 13.8	$ 1.3
Consolidated VIEs | Seeded Investment Products
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Change in market value	(0.2)		0.4
Change in ownership	(8.9)		6.5
End of period balance	20.3		20.3			20.3
Consolidated | Seeded Investment Products
Rollforward of redeemable noncontrolling interests in consolidated seed investment products
Beginning of period balance	21.2	17.8	13.8	41.1	41.1
End of period balance	$ 21.6	$ 21.4	$ 21.6	$ 21.4	$ 13.8	$ 21.6

LONG-TERM INCENTIVE COMPENSAT41

LONG-TERM INCENTIVE COMPENSATION (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Long-term incentive compensation expense
Long-term incentive awards granted	$ 1.6		$ 68.1
Vesting period			4 years
Long-term incentive compensation expense	19	$ 19.7	$ 38.5	$ 39.9
Intech Investment Management LLC
Long-term incentive compensation expense
Long-term incentive awards granted			2.6
Restricted Stock Awards
Long-term incentive compensation expense
Long-term incentive awards granted			$ 39.7
Number of price-vesting units granted			3.2
Weighted average price per share (in dollars per share)			$ 12.45
Mutual Fund Share Awards
Long-term incentive compensation expense
Long-term incentive awards granted			$ 25.8
Deferred Compensation Plans
Long-term incentive compensation expense
Long-term incentive compensation (benefit)			(0.1)
Long-term incentive compensation expense	0.7	0.6		1.7
Profits and Phantom Interests | Intech Investment Management LLC
Long-term incentive compensation expense
Long-term incentive compensation expense	$ 3.4	$ 3.3	$ 7.8	$ 7.3

OTHER INCOME (EXPENSE), NET (De

OTHER INCOME (EXPENSE), NET (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
OTHER INCOME (EXPENSE), NET
Dividend income	$ 1	$ 0.7	$ 1.7	$ 1.3
Interest income	0.2	0.2	0.4	0.3
Foreign currency gains (losses), net		(3.1)	0.9	(4.1)
Other, net				0.2
Total other income (expense), net	$ 1.2	$ (2.2)	$ 3	$ (2.3)

ACCUMULATED OTHER COMPREHENSI43

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Changes in accumulated other comprehensive loss, net of tax
Beginning balance			$ 1,582.7
Net current period other comprehensive income	$ (2.5)	$ (1)	3	$ (0.7)
Ending balance	1,593.7		1,593.7
Accumulated Other Comprehensive Loss
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	(3.4)	(1.1)	(8.9)	(1.4)
Net current period other comprehensive income	(2.5)	(1)	3	(0.7)
Ending balance	(5.9)	(2.1)	(5.9)	(2.1)
Available for sale securities
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	(1.6)	1.2	(2.3)	0.9
Net current period other comprehensive income	0.1	(1)	0.8	(0.7)
Ending balance	(1.5)	0.2	(1.5)	0.2
Foreign currency translation adjustments
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	(1.8)	(2.3)	(6.6)	(2.3)
Net current period other comprehensive income	(2.6)		2.2
Ending balance	$ (4.4)	$ (2.3)	$ (4.4)	$ (2.3)

ACCUMULATED OTHER COMPREHENSI44

ACCUMULATED OTHER COMPREHENSIVE LOSS - OCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other comprehensive income, net of tax
Pre-tax amount	$ (2.4)	$ (1.6)	$ 3.5	$ (1.1)
Tax (expense) benefit	(0.1)	0.6	(0.5)	0.4
Total other comprehensive income (loss), net of tax	(2.5)	(1)	3	(0.7)
Available for sale securities
Other comprehensive income, net of tax
Pre-tax amount	0.2	(1.6)	1.3	(1.1)
Tax (expense) benefit	(0.1)	0.6	(0.5)	0.4
Total other comprehensive income (loss), net of tax	0.1	$ (1)	0.8	$ (0.7)
Foreign currency translation adjustments
Other comprehensive income, net of tax
Pre-tax amount	(2.6)		2.2
Total other comprehensive income (loss), net of tax	$ (2.6)		$ 2.2

EARNINGS AND DIVIDENDS PER SH45

EARNINGS AND DIVIDENDS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Jul. 21, 2016	May 20, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2013	Jun. 30, 2016	Jun. 30, 2015	Apr. 21, 2016
Earnings per share
Net income attributable to JCG			$ 39	$ 44.7		$ 74.1	$ 89.3
Less: Allocation of earnings to participating restricted stock awards			1.5	1.6		2.8	3.2
Net income attributable to JCG common shareholders			$ 37.5	$ 43.1		$ 71.3	$ 86.1
Weighted-average common shares outstanding - basic			177.5	180.8		178	180.5
Diluted effect of:
2018 Convertible Notes			2.9	4.3		2.4	4.1
Stock warrants			1.6	3.2		1.1	3
Stock options, restricted stock and other			0.4	1.1		0.3	1.2
Weighted-average common shares outstanding - diluted			182.4	189.4		181.8	188.8
Earnings per share:
Basic earnings per share (in dollars per share)			$ 0.21	$ 0.24		$ 0.40	$ 0.48
Diluted earnings per share (in dollars per share)			0.21	0.23		0.39	0.46
Dividends paid per share		$ 0.11	$ 0.11	$ 0.09	$ 0.07	$ 0.20	$ 0.17
Increase of quarterly dividend (in dollars per share)								$ 0.02
Increase of quarterly dividend (as a percent)								22.00%
Cash dividend declared (in dollars per share)	$ 0.11
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