T. Rowe Price (TROW) 10-Q 22 Apr 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
	Mar. 31, 2015	Apr. 20, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	31-Mar-15
Current Fiscal Year End Date	-19
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015
Entity Registrant Name	PRICE T ROWE GROUP INC
Entity Incorporation, State Country Name	Maryland
Entity Tax Identification Number	522264646
Entity Address, Address Line One	100 East Pratt Street
Entity Address, City or Town	Baltimore
Entity Address, State or Province	Maryland
Entity Address, Postal Zip Code	21202
Entity Filer Category	Large Accelerated Filer
Entity Listing, Par Value Per Share (in dollars per share)	$0.20
Entity Common Stock, Shares Outstanding (shares)		260,584,861
Entity Central Index Key	1113169
Amendment Flag	FALSE

UNAUDITED_CONDENSED_CONSOLIDAT

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$1,810,400,000	$1,506,100,000
Accounts receivable and accrued revenue	447,300,000	442,800,000
Investments in sponsored funds	1,889,400,000	1,884,000,000
Other investments	419,500,000	408,300,000
Property and equipment, net	599,000,000	586,400,000
Goodwill	665,700,000	665,700,000
Other assets	130,700,000	151,100,000
Total assets	5,962,000,000	5,644,400,000
Liabilities
Accounts payable and accrued expenses	137,900,000	143,400,000
Accrued compensation and related costs	141,300,000	82,100,000
Income taxes payable	156,300,000	23,600,000
Dividends payable	524,500,000	100,000
Total liabilities	960,000,000	249,200,000
Commitments and contingent liabilities
Stockholders’ equity
Preferred stock, undesignated, $.20 par value – authorized and unissued 20,000,000 shares	0	0
Common stock, $.20 par value - authorized 750,000,000; issued 261,110,000 shares in 2014 and 260,575,000 in 2015	52,100,000	52,200,000
Additional capital in excess of par value	712,000,000	756,500,000
Retained earnings	4,099,700,000	4,450,100,000
Accumulated other comprehensive income	138,200,000	136,400,000
Total stockholders’ equity	5,002,000,000	5,395,200,000
Total liabilities and stockholders’ equity	$5,962,000,000	$5,644,400,000

UNAUDITED_CONDENSED_CONSOLIDAT1

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Stockholders' equity
Preferred stock, par value (in dollars per share)	$0.20	$0.20
Preferred stock, shares authorized	20,000,000	20,000,000
Common stock, par value (in dollars per share)	$0.20	$0.20
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	260,575,000	261,110,000

UNAUDITED_CONDENSED_CONSOLIDAT2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues
Investment advisory fees	$896.50	$826.40
Administrative fees	93	94.5
Distribution and servicing fees	37.5	33.7
Net revenues	1,027	954.6
Operating expenses
Compensation and related costs	346.5	318.9
Advertising and promotion	25.3	22.6
Distribution and servicing costs	37.5	33.7
Depreciation and amortization of property and equipment	29.1	27.1
Occupancy and facility costs	38.3	35.4
Other operating expenses	72.5	67.8
Total operating expenses	549.2	505.5
Net operating income	477.8	449.1
Non-operating investment income	26.8	42.1
Income before income taxes	504.6	491.2
Provision for income taxes	195.1	186.9
Net income	$309.50	$304.30
Earnings per share on common stock
Basic (in dollars per share)	$1.16	$1.16
Diluted (in dollars per share)	$1.13	$1.12
Dividends declared per share (in dollars per share)	$2.52	$0.44

UNAUDITED_CONDENSED_CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$309.50	$304.30
Other comprehensive income (loss)
Net unrealized holding gains on available-for-sale investments	17	22.4
Reclassification adjustments recognized in non-operating investment income: net gains realized on dispositions determined using average cost	-16.6	-32
Total net unrealized holding gains (losses) recognized in other comprehensive income	0.4	-9.6
Currency translation adjustments	-2.2	2.5
Other comprehensive loss before income taxes	-1.8	-7.1
Net deferred tax benefits	3.6	2.8
Total other comprehensive income (loss)	1.8	-4.3
Total comprehensive income	$311.30	$300

UNAUDITED_CONDENSED_CONSOLIDAT4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities
Net income	$309.50	$304.30
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of property and equipment	29.1	27.1
Stock-based compensation expense	31	29.2
Realized gains on dispositions of sponsored funds	-16.6	-32
Net gains recognized on other investments	-6.8	-6.3
Net change in trading securities held by consolidated sponsored investment portfolios	-5	-25.1
Other changes in assets and liabilities	202.6	189.9
Net cash provided by operating activities	543.8	487.1
Cash flows from investing activities
Investments in sponsored funds	-39.5	-98.9
Dispositions of sponsored funds	50.7	97.9
Additions to property and equipment	-41.3	-25.4
Other investing activity	-4	-3.4
Net cash used in investing activities	-34.1	-29.8
Cash flows from financing activities
Repurchases of common stock	-113.6	-31.3
Common share issuances under stock-based compensation plans	32.5	22.2
Excess tax benefits from stock-based compensation plans	11.1	8.9
Dividends paid	-135.4	-115.8
Net cash used in financing activities	-205.4	-116
Cash and cash equivalents
Net change during period	304.3	341.3
At beginning of year	1,506.10	1,398
At end of period	$1,810.40	$1,739.30

UNAUDITED_CONDENSED_CONSOLIDAT5

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $)	Total	Common stock [Member]	Additional capital in excess of par value [Member]	Retained earnings [Member]	Accumulated other comprehensive income [Member]
In Millions, except Share data in Thousands, unless otherwise specified
Balances at Dec. 31, 2014	$5,395.20	$52.20	$756.50	$4,450.10	$136.40
Balances (shares) at Dec. 31, 2014	261,110
Net income	309.5			309.5
Other comprehensive income, net of tax	1.8				1.8
Dividends declared	-659.8			-659.8
Common stock-based compensation plans activity
Shares issued upon option exercises (shares)		901
Shares issued upon option exercises	27	0.2	26.8
Restricted shares issued, net of shares withheld for taxes (shares)		-1
Restricted shares issued, net of shares withheld for taxes	-0.1	0	-0.1
Shares issued upon vesting of restricted stock units, net of shares withheld for taxes (shares)		1
Shares issued upon vesting of restricted stock units, net of shares withheld for taxes	0	0	0
Forfeiture of restricted awards (shares)		-25
Forfeiture of restricted awards	0	0	0
Net tax benefits	11		11
Stock-based compensation expense	31		31
Restricted stock units issued as dividend equivalents	0		0.1	-0.1
Common shares repurchased (shares)		-1,411
Common shares repurchased	-113.6	-0.3	-113.3	0
Balances at Mar. 31, 2015	$5,002	$52.10	$712	$4,099.70	$138.20
Balances (shares) at Mar. 31, 2015	260,575

THE_COMPANY_AND_BASIS_OF_PREPA

THE COMPANY AND BASIS OF PREPARATION.	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The company and basis of preparation
	NOTE 1	– THE COMPANY AND BASIS OF PREPARATION.
	T. Rowe Price Group derives its consolidated revenues and net income primarily from investment advisory services that its subsidiaries provide to individual and institutional investors in the sponsored T. Rowe Price U.S. mutual funds and other investment portfolios, including separately managed accounts, subadvised funds, and other sponsored investment portfolios. We also provide our investment advisory clients with related administrative services, including distribution, mutual fund transfer agent, accounting, and shareholder services; participant recordkeeping and transfer agent services for defined contribution retirement plans; brokerage; and trust services.
	Investment advisory revenues depend largely on the total value and composition of assets under our management. Accordingly, fluctuations in financial markets and in the composition of assets under management impact our revenues and results of operations.
	These unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States, which require the use of estimates and reflect all adjustments that are, in the opinion of management, necessary to a fair statement of our results for the interim periods presented. All such adjustments are of a normal recurring nature. Actual results may vary from our estimates. Certain prior year amounts have been reclassified to conform to the 2015 presentation.
	The unaudited interim financial information contained in these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements contained in our 2014 Annual Report.

INFORMATION_ABOUT_RECEIVABLES_

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.	3 Months Ended
	Mar. 31, 2015
Information about Receivables, Revenues, and Services [Abstract]
Information about receivables, revenues, and services
	NOTE 2	– INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES.
	Accounts receivable from our sponsored mutual funds for advisory fees and advisory-related administrative services aggregate $245.8 million at December 31, 2014, and $255.3 million at March 31, 2015.
	Revenues (in millions) from advisory services provided under agreements with our sponsored mutual funds and other investment clients include:
		Three months ended
		3/31/14		3/31/15
	Sponsored U.S. mutual funds
	Stock and blended asset	$	497.3	$	543.2
	Bond and money market	93.5		102.7
		590.8		645.9
	Other investment portfolios
	Stock and blended asset	196.9		213
	Bond, money market, and stable value	38.7		37.6
		235.6		250.6
	Total	$	826.4	$	896.5
	The following table summarizes the investment portfolios and assets under management (in billions) on which we earn advisory fees.
		Average during
		the first quarter of				As of
		2014		2015		12/31/14		3/31/15
	Sponsored U.S. mutual funds
	Stock and blended asset	$	346.1	$	381.5	$	373	$	390.3
	Bond and money market	96.6		105.6		104.6		106.9
		442.7		487.1		477.6		497.2
	Other investment portfolios
	Stock and blended asset	196.4		209.5		206.9		212.6
	Bond, money market, and stable value	62.1		62.4		62.3		62.9
		258.5		271.9		269.2		275.5
	Total	$	701.2	$	759	$	746.8	$	772.7
	Investors that we serve are primarily domiciled in the U.S.; investment advisory clients outside the U.S. account for 5.6% and 5.1% of our assets under management at December 31, 2014 and March 31, 2015, respectively.
	The following table summarizes the other fees (in millions) earned from our sponsored U.S. mutual funds.
		Three months ended
		3/31/14		3/31/15
	Administrative fees	$	74.9	$	76
	Distribution and servicing fees	$	33.7	$	37.5

INVESTMENTS_IN_SPONSORED_FUNDS

INVESTMENTS IN SPONSORED FUNDS - AVAILABLE-FOR-SALE.	3 Months Ended
	Mar. 31, 2015
Available-for-sale Securities [Abstract]
Investments in sponsored funds - available-for-sale
	NOTE 3	– INVESTMENTS IN SPONSORED FUNDS - AVAILABLE-FOR-SALE.
	We make investments in our sponsored funds for general corporate investment purposes or to provide seed capital for newly formed funds. These sponsored funds (in millions) are voting interest entities and include:
		Aggregate		Unrealized holding					Aggregate
		cost		gains		losses			fair value
	31-Dec-14
	Stock and blended asset funds	$	505.4	$	231.4	$	(4.2	)	$	732.6
	Bond funds	1,107.90		52		(8.5		)	1,151.40
	Total	$	1,613.30	$	283.4	$	(12.7	)	$	1,884.00
	March 31, 2015
	Stock and blended asset funds	$	476.2	$	236.5	$	(2.6	)	$	710.1
	Bond funds	1,142.50		48.5		(11.7		)	1,179.30
	Total	$	1,618.70	$	285	$	(14.3	)	$	1,889.40
	The unrealized holding losses are attributable to 12 fund holdings with an aggregate fair value of $788.5 million at December 31, 2014, and 14 fund holdings with an aggregate fair value of $413.7 million at March 31, 2015. These unrealized losses are considered temporary.

OTHER_INVESTMENTS

OTHER INVESTMENTS.	3 Months Ended
	Mar. 31, 2015
Investments, All Other Investments [Abstract]
Other investments
	NOTE 4	– OTHER INVESTMENTS.
	These investments (in millions) include:
		12/31/14		3/31/15
	Cost method investments
	10% interest in Daiwa SB Investments Ltd. (Japan)	$	3	$	3
	Other investments	60.7		63
	Equity method investments
	26% interest in UTI Asset Management Company Limited (India)	132.4		134.2
	Sponsored fund investments	125.6		127
	Other investments	5.7		6.3
	Investments held as trading
	Sponsored fund investments	10.3		11.2
	Securities held by consolidated sponsored investment portfolios	69.6		73.8
	U.S. Treasury note	1		1
	Total	$	408.3	$	419.5
	The securities held by consolidated sponsored investment portfolios, sponsored fund investments held as trading, and the sponsored fund investments treated as equity method investments relate to investment portfolios in which we provided initial seed capital at the time of its formation. We have determined at December 31, 2014 and March 31, 2015, that these investment portfolios are voting interest entities and, as a result, have consolidated those sponsored portfolios in which we own a majority of the voting interest.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS.	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair value measurements
	NOTE 5	– FAIR VALUE MEASUREMENTS.
	We determine the fair value of our investments using the following broad levels of inputs as defined by related accounting standards:
	Level 1 – quoted prices in active markets for identical securities.
	Level 2 – observable inputs other than Level 1 quoted prices including, but not limited to, quoted prices for similar securities, interest rates, prepayment speeds, and credit risk. These inputs are based on market data obtained from independent sources.
	Level 3 – unobservable inputs reflecting our own assumptions based on the best information available. We do not value any investments using Level 3 inputs.
	These levels are not necessarily an indication of the risk or liquidity associated with our investments. There have been no material transfers between the levels. The following table summarizes our investments (in millions) that are recognized in our condensed consolidated balance sheets using fair value measurements determined based on the differing levels of inputs.
		Level 1		Level 2
	31-Dec-14
	Cash equivalents	$	1,345.80	$	—
	Investments in sponsored funds - available-for-sale	1,884.00		—
	Investments held as trading	27.7		52.2
	Total	$	3,257.50	$	52.2
	31-Mar-15
	Cash equivalents	$	1,607.90	$	—
	Investments in sponsored funds - available-for-sale	1,889.40		—
	Investments held as trading	27.5		57.5
	Total	$	3,524.80	$	57.5

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY.	3 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' equity	NOTE 6 – STOCKHOLDERS’ EQUITY.
	Regular cash dividends declared per share in the first quarter were $.44 in 2014 and $.52 in 2015. On February 19, 2015, the Board of Directors also declared a special cash dividend of $2.00 per share, payable on April 23, 2015 to stockholders of record as of the close of business on April 9, 2015.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION.	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation
	NOTE 7	– STOCK-BASED COMPENSATION.
	STOCK OPTIONS.
	The following table summarizes the status of and changes in our stock option grants during the first quarter of 2015.
		Options		Weighted-
				average
				exercise
				price
	Outstanding at December 31, 2014	29,761,519		$	56.95
	Semiannual grants	1,931,325		$	82.97
	New hire grants	6,000		$	80.01
	Exercised	(1,251,758	)	$	44.87
	Forfeited	(202,113	)	$	68.54
	Outstanding at March 31, 2015	30,244,973		$	59.03
	Exercisable at March 31, 2015	17,381,933		$	50.53
	EFFECT OF SPECIAL CASH DIVIDEND.
	As a result of the special cash dividend declared by the Board of Directors in February 2015, the anti-dilution provisions of our employee long-term incentive plans and non-employee director plans (collectively the LTI Plans) require an automatic adjustment to neutralize the effect of the special dividend. On the special dividend's ex-dividend date (April 7, 2015), the number of shares authorized and the number of stock options outstanding and their exercise price were adjusted resulting in an increase of 749,578 stock options outstanding on the ex-dividend date, and no incremental compensation expense. The stock option table above will be adjusted to reflect the impact in the second quarter of 2015.
	RESTRICTED SHARES AND STOCK UNITS.
	The following table summarizes the status of and changes in our nonvested restricted shares and restricted stock units during the first quarter of 2015.
		Restricted		Restricted		Weighted-average
		shares		stock		fair value
				units
	Nonvested at December 31, 2014	2,061,559		1,006,753		$	72.79
	Granted to employees - time-based	—		625,518		$	82.96
	Granted to employees - performance-based	—		27,975		$	82.97
	Vested	(1,758	)	(1,080	)	$	70.81
	Forfeited	(25,893	)	(24,990	)	$	72.55
	Nonvested at March 31, 2015	2,033,908		1,634,176		$	74.6
	The nonvested at March 31, 2015, includes 28,800 performance-based restricted shares and 175,500 performance-based restricted stock units. These performance-based restricted shares and units include 22,800 restricted shares and 121,050 restricted stock units for which the performance period has lapsed and the performance threshold has been met.
	FUTURE STOCK-BASED COMPENSATION EXPENSE.
	The following table presents the compensation expense (in millions) to be recognized over the remaining vesting periods of the stock-based awards outstanding at March 31, 2015. Estimated future compensation expense will change to reflect future option grants; future awards of unrestricted shares, restricted stock units; changes in estimated forfeitures; changes in the probability of performance thresholds being met; and adjustments for actual forfeitures.
	Second quarter 2015	$	35.4
	Third quarter 2015	34.9
	Fourth quarter 2015	31.4
	2016	86.7
	2017 through 2020	88.5
	Total	$	276.9

EARNINGS_PER_SHARE_CALCULATION

EARNINGS PER SHARE CALCULATIONS.	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings per share calculations
	NOTE 8	– EARNINGS PER SHARE CALCULATIONS.
	The following table presents the reconciliation (in millions) of our net income to net income allocated to our common stockholders and the weighted-average shares (in millions) that are used in calculating the basic and diluted earnings per share on our common stock. Weighted-average common shares outstanding assuming dilution reflects the potential dilution, determined using the treasury stock method, that could occur if outstanding stock options were exercised and non-participating stock awards vested.
		Three months ended
		3/31/14				3/31/15
	Net income	$	304.3			$	309.5
	Less: net income allocated to outstanding restricted stock and stock unit holders	(3.2		)		(8.4		)
	Net income allocated to common stockholders	$	301.1			$	301.1
	Weighted-average common shares
	Outstanding	260.4				258.7
	Outstanding assuming dilution	268.6				265.7
	The following table shows the weighted-average outstanding stock options (in millions) that are excluded from the calculation of diluted earnings per common share as the inclusion of such shares would be anti-dilutive.
		Three months ended
		3/31/14			3/31/15
	Weighted-average outstanding stock options excluded	3.3			4.6

OTHER_COMPREHENSIVE_INCOME_AND

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME.	3 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Other comprehensive income and accumulated other comprehensive income	NOTE 9 - OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME.
	The following table presents the impact of the components (in millions) of other comprehensive income or loss on deferred tax benefits (income taxes).
		Three months ended
		3/31/14			3/31/15
	Net deferred tax benefits (income taxes) on:
	Net unrealized holding gains or losses	$	(8.7	)	$	(3.1	)
	Reclassification adjustment recognized in the provision for income taxes related to net gains realized on dispositions	12.4			5.9
	Net deferred tax benefits on net unrealized holding gains or losses	3.7			2.8
	Net deferred tax benefits (income taxes) on currency translation adjustments	(.9		)	0.8
	Total net deferred tax benefit	$	2.8		$	3.6
	The changes (in millions) in each component of accumulated other comprehensive income, including reclassification adjustments for the first quarter of 2015 are presented in the table below.
		Net unrealized holding gains
		Investments in sponsored funds			Equity share of UTI’s net unrealized holding gains			Total net unrealized holding gains			Currency translation adjustments			Total
	Balances at December 31, 2014	$	165		$	0.5		$	165.5		$	(29.1	)	$	136.4
	Other comprehensive income (loss) before reclassifications and income taxes	16.6			0.4			17			(2.2		)	14.8
	Reclassification adjustments related to net gains realized on dispositions recognized in non-operating investment income, determined using average cost	(16.6		)	—			(16.6		)	—			(16.6		)
		—			0.4			0.4			(2.2		)	(1.8		)
	Deferred tax benefits (income taxes)	2.9			(.1		)	2.8			0.8			3.6
	Other comprehensive income (loss)	2.9			0.3			3.2			(1.4		)	1.8
	Balances at March 31, 2015	$	167.9		$	0.8		$	168.7		$	(30.5	)	$	138.2

INFORMATION_ABOUT_RECEIVABLES_1

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Tables)	3 Months Ended
	Mar. 31, 2015
Information about Receivables, Revenues, and Services [Abstract]
Components of revenues from advisory services	Revenues (in millions) from advisory services provided under agreements with our sponsored mutual funds and other investment clients include:
		Three months ended
		3/31/14		3/31/15
	Sponsored U.S. mutual funds
	Stock and blended asset	$	497.3	$	543.2
	Bond and money market	93.5		102.7
		590.8		645.9
	Other investment portfolios
	Stock and blended asset	196.9		213
	Bond, money market, and stable value	38.7		37.6
		235.6		250.6
	Total	$	826.4	$	896.5
Components of assets under management	The following table summarizes the investment portfolios and assets under management (in billions) on which we earn advisory fees.
		Average during
		the first quarter of				As of
		2014		2015		12/31/14		3/31/15
	Sponsored U.S. mutual funds
	Stock and blended asset	$	346.1	$	381.5	$	373	$	390.3
	Bond and money market	96.6		105.6		104.6		106.9
		442.7		487.1		477.6		497.2
	Other investment portfolios
	Stock and blended asset	196.4		209.5		206.9		212.6
	Bond, money market, and stable value	62.1		62.4		62.3		62.9
		258.5		271.9		269.2		275.5
	Total	$	701.2	$	759	$	746.8	$	772.7
Components of other fees	The following table summarizes the other fees (in millions) earned from our sponsored U.S. mutual funds.
		Three months ended
		3/31/14		3/31/15
	Administrative fees	$	74.9	$	76
	Distribution and servicing fees	$	33.7	$	37.5

INVESTMENTS_IN_SPONSORED_FUNDS1

INVESTMENTS IN SPONSORED FUNDS - AVAILABLE-FOR-SALE. (Tables)	3 Months Ended
	Mar. 31, 2015
Available-for-sale Securities [Abstract]
Investments in sponsored funds reconciliation	These sponsored funds (in millions) are voting interest entities and include:
		Aggregate		Unrealized holding					Aggregate
		cost		gains		losses			fair value
	31-Dec-14
	Stock and blended asset funds	$	505.4	$	231.4	$	(4.2	)	$	732.6
	Bond funds	1,107.90		52		(8.5		)	1,151.40
	Total	$	1,613.30	$	283.4	$	(12.7	)	$	1,884.00
	March 31, 2015
	Stock and blended asset funds	$	476.2	$	236.5	$	(2.6	)	$	710.1
	Bond funds	1,142.50		48.5		(11.7		)	1,179.30
	Total	$	1,618.70	$	285	$	(14.3	)	$	1,889.40

OTHER_INVESTMENTS_Tables

OTHER INVESTMENTS. (Tables)	3 Months Ended
	Mar. 31, 2015
Investments, All Other Investments [Abstract]
Components of other investments	These investments (in millions) include:
		12/31/14		3/31/15
	Cost method investments
	10% interest in Daiwa SB Investments Ltd. (Japan)	$	3	$	3
	Other investments	60.7		63
	Equity method investments
	26% interest in UTI Asset Management Company Limited (India)	132.4		134.2
	Sponsored fund investments	125.6		127
	Other investments	5.7		6.3
	Investments held as trading
	Sponsored fund investments	10.3		11.2
	Securities held by consolidated sponsored investment portfolios	69.6		73.8
	U.S. Treasury note	1		1
	Total	$	408.3	$	419.5

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS. (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair value measurements table	The following table summarizes our investments (in millions) that are recognized in our condensed consolidated balance sheets using fair value measurements determined based on the differing levels of inputs.
		Level 1		Level 2
	31-Dec-14
	Cash equivalents	$	1,345.80	$	—
	Investments in sponsored funds - available-for-sale	1,884.00		—
	Investments held as trading	27.7		52.2
	Total	$	3,257.50	$	52.2
	31-Mar-15
	Cash equivalents	$	1,607.90	$	—
	Investments in sponsored funds - available-for-sale	1,889.40		—
	Investments held as trading	27.5		57.5
	Total	$	3,524.80	$	57.5

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION. (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Rollforward of stock options	The following table summarizes the status of and changes in our stock option grants during the first quarter of 2015.
		Options		Weighted-
				average
				exercise
				price
	Outstanding at December 31, 2014	29,761,519		$	56.95
	Semiannual grants	1,931,325		$	82.97
	New hire grants	6,000		$	80.01
	Exercised	(1,251,758	)	$	44.87
	Forfeited	(202,113	)	$	68.54
	Outstanding at March 31, 2015	30,244,973		$	59.03
	Exercisable at March 31, 2015	17,381,933		$	50.53
Rollforward of nonvested restricted shares and restricted stock units	The following table summarizes the status of and changes in our nonvested restricted shares and restricted stock units during the first quarter of 2015.
		Restricted		Restricted		Weighted-average
		shares		stock		fair value
				units
	Nonvested at December 31, 2014	2,061,559		1,006,753		$	72.79
	Granted to employees - time-based	—		625,518		$	82.96
	Granted to employees - performance-based	—		27,975		$	82.97
	Vested	(1,758	)	(1,080	)	$	70.81
	Forfeited	(25,893	)	(24,990	)	$	72.55
	Nonvested at March 31, 2015	2,033,908		1,634,176		$	74.6
Future stock-based compensation expense	The following table presents the compensation expense (in millions) to be recognized over the remaining vesting periods of the stock-based awards outstanding at March 31, 2015. Estimated future compensation expense will change to reflect future option grants; future awards of unrestricted shares, restricted stock units; changes in estimated forfeitures; changes in the probability of performance thresholds being met; and adjustments for actual forfeitures.
	Second quarter 2015	$	35.4
	Third quarter 2015	34.9
	Fourth quarter 2015	31.4
	2016	86.7
	2017 through 2020	88.5
	Total	$	276.9

EARNINGS_PER_SHARE_CALCULATION1

EARNINGS PER SHARE CALCULATIONS. (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings per share reconciliation	The following table presents the reconciliation (in millions) of our net income to net income allocated to our common stockholders and the weighted-average shares (in millions) that are used in calculating the basic and diluted earnings per share on our common stock. Weighted-average common shares outstanding assuming dilution reflects the potential dilution, determined using the treasury stock method, that could occur if outstanding stock options were exercised and non-participating stock awards vested.
		Three months ended
		3/31/14				3/31/15
	Net income	$	304.3			$	309.5
	Less: net income allocated to outstanding restricted stock and stock unit holders	(3.2		)		(8.4		)
	Net income allocated to common stockholders	$	301.1			$	301.1
	Weighted-average common shares
	Outstanding	260.4				258.7
	Outstanding assuming dilution	268.6				265.7
Anti-dilutive securities	The following table shows the weighted-average outstanding stock options (in millions) that are excluded from the calculation of diluted earnings per common share as the inclusion of such shares would be anti-dilutive.
		Three months ended
		3/31/14			3/31/15
	Weighted-average outstanding stock options excluded	3.3			4.6

OTHER_COMPREHENSIVE_INCOME_AND1

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME. (Tables)	3 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Impact of the components of other comprehensive income (loss) on deferred tax benefit (income tax)	The following table presents the impact of the components (in millions) of other comprehensive income or loss on deferred tax benefits (income taxes).
		Three months ended
		3/31/14			3/31/15
	Net deferred tax benefits (income taxes) on:
	Net unrealized holding gains or losses	$	(8.7	)	$	(3.1	)
	Reclassification adjustment recognized in the provision for income taxes related to net gains realized on dispositions	12.4			5.9
	Net deferred tax benefits on net unrealized holding gains or losses	3.7			2.8
	Net deferred tax benefits (income taxes) on currency translation adjustments	(.9		)	0.8
	Total net deferred tax benefit	$	2.8		$	3.6
Changes in accumulated other comprehensive income	The changes (in millions) in each component of accumulated other comprehensive income, including reclassification adjustments for the first quarter of 2015 are presented in the table below.
		Net unrealized holding gains
		Investments in sponsored funds			Equity share of UTI’s net unrealized holding gains			Total net unrealized holding gains			Currency translation adjustments			Total
	Balances at December 31, 2014	$	165		$	0.5		$	165.5		$	(29.1	)	$	136.4
	Other comprehensive income (loss) before reclassifications and income taxes	16.6			0.4			17			(2.2		)	14.8
	Reclassification adjustments related to net gains realized on dispositions recognized in non-operating investment income, determined using average cost	(16.6		)	—			(16.6		)	—			(16.6		)
		—			0.4			0.4			(2.2		)	(1.8		)
	Deferred tax benefits (income taxes)	2.9			(.1		)	2.8			0.8			3.6
	Other comprehensive income (loss)	2.9			0.3			3.2			(1.4		)	1.8
	Balances at March 31, 2015	$	167.9		$	0.8		$	168.7		$	(30.5	)	$	138.2

INFORMATION_ABOUT_RECEIVABLES_2

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Receivables from Sponsored Mutual Funds) (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Receivables from sponsored mutual funds
Accounts receivable for advisory fees and advisory-related administrative services	$447.30	$442.80
Sponsored U.S. mutual funds [Member]
Receivables from sponsored mutual funds
Accounts receivable for advisory fees and advisory-related administrative services	$255.30	$245.80

INFORMATION_ABOUT_RECEIVABLES_3

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Investment Advisory Services) (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Investment advisory services
Revenues from advisory services	$896,500,000	$826,400,000
Average assets under management	759,000,000,000	701,200,000,000
Period end assets under management	772,700,000,000		746,800,000,000
Sponsored U.S. mutual funds [Member]
Investment advisory services
Revenues from advisory services	645,900,000	590,800,000
Average assets under management	487,100,000,000	442,700,000,000
Period end assets under management	497,200,000,000		477,600,000,000
Sponsored U.S. mutual funds [Member] | Stock and blended asset [Member]
Investment advisory services
Revenues from advisory services	543,200,000	497,300,000
Average assets under management	381,500,000,000	346,100,000,000
Period end assets under management	390,300,000,000		373,000,000,000
Sponsored U.S. mutual funds [Member] | Bond and money market [Member]
Investment advisory services
Revenues from advisory services	102,700,000	93,500,000
Average assets under management	105,600,000,000	96,600,000,000
Period end assets under management	106,900,000,000		104,600,000,000
Other investment portfolios [Member]
Investment advisory services
Revenues from advisory services	250,600,000	235,600,000
Average assets under management	271,900,000,000	258,500,000,000
Period end assets under management	275,500,000,000		269,200,000,000
Other investment portfolios [Member] | Stock and blended asset [Member]
Investment advisory services
Revenues from advisory services	213,000,000	196,900,000
Average assets under management	209,500,000,000	196,400,000,000
Period end assets under management	212,600,000,000		206,900,000,000
Other investment portfolios [Member] | Bond, money market, and stable value [Member]
Investment advisory services
Revenues from advisory services	37,600,000	38,700,000
Average assets under management	62,400,000,000	62,100,000,000
Period end assets under management	$62,900,000,000		$62,300,000,000

INFORMATION_ABOUT_RECEIVABLES_4

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Revenues and Services Concentration) (Detail) (Geographic concentration [Member])	0 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Geographic concentration [Member]
Revenues and services concentration
Concentration risk, additional characteristic	investment advisory clients outside the U.S.	investment advisory clients outside the U.S.
Concentration risk, percentage	5.10%	5.60%
Concentration risk, benchmark description	assets under management at March 31, 2015	assets under management at December 31, 2014

INFORMATION_ABOUT_RECEIVABLES_5

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Other Fees Earned from Sponsored U.S. Mutual Funds) (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Other fees earned from sponsored U.S. mutual funds
Administrative fees	$93	$94.50
Distribution and servicing fees	37.5	33.7
Sponsored U.S. mutual funds [Member]
Other fees earned from sponsored U.S. mutual funds
Administrative fees	76	74.9
Distribution and servicing fees	$37.50	$33.70

INVESTMENTS_IN_SPONSORED_FUNDS2

INVESTMENTS IN SPONSORED FUNDS - AVAILABLE-FOR-SALE. (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	security	security
Investments in sponsored funds
Aggregate cost	$1,618.70	$1,613.30
Unrealized holding gains	285	283.4
Unrealized holding losses	-14.3	-12.7
Aggregate fair value	1,889.40	1,884
Fund holdings with temporary unrealized holding losses (number of securities)	14	12
Unrealized holding losses at period end are attributable to fund holdings with an aggregate fair value of	413.7	788.5
Stock and blended asset funds [Member]
Investments in sponsored funds
Aggregate cost	476.2	505.4
Unrealized holding gains	236.5	231.4
Unrealized holding losses	-2.6	-4.2
Aggregate fair value	710.1	732.6
Bond funds [Member]
Investments in sponsored funds
Aggregate cost	1,142.50	1,107.90
Unrealized holding gains	48.5	52
Unrealized holding losses	-11.7	-8.5
Aggregate fair value	$1,179.30	$1,151.40

OTHER_INVESTMENTS_Detail

OTHER INVESTMENTS. (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Other investments
U.S. Treasury note	$1	$1
Total	419.5	408.3
Sponsored fund investments held as trading [Member]
Other investments
Investments held as trading	11.2	10.3
Securities held by consolidated sponsored investment portfolios [Member]
Other investments
Investments held as trading	73.8	69.6
26% interest in UTI Asset Management Company Limited (India) [Member]
Other investments
Equity method investments	134.2	132.4
Equity method investment (ownership percentage)	26.00%	26.00%
Sponsored fund equity method investments [Member]
Other investments
Equity method investments	127	125.6
Other equity method investments [Member]
Other investments
Equity method investments	6.3	5.7
10% interest in Daiwa SB Investments Ltd (Japan) [Member]
Other investments
Cost method investments	3	3
Cost method investment (ownership percentage)	10.00%	10.00%
Other cost method investments [Member]
Other investments
Cost method investments	$63	$60.70

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS. (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Fair value measurements
Investments in sponsored funds	$1,889.40	$1,884
Level 1 [Member]
Fair value measurements
Total	3,524.80	3,257.50
Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair value measurements
Cash equivalents	1,607.90	1,345.80
Investments in sponsored funds	1,889.40	1,884
Investments held as trading	27.5	27.7
Level 2 [Member]
Fair value measurements
Total	57.5	52.2
Level 2 [Member] | Fair value, measurements, recurring [Member]
Fair value measurements
Cash equivalents	0	0
Investments in sponsored funds	0	0
Investments held as trading	$57.50	$52.20

STOCKHOLDERS_EQUITY_Detail

STOCKHOLDERS' EQUITY. (Detail) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Feb. 19, 2015
Dividends
Cash dividends declared per share	$2.52	$0.44
Regular cash dividend [Member]
Dividends
Cash dividends declared per share	$0.52	$0.44
Special cash dividend [Member]
Dividends
Cash dividends declared per share			$2

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION. (Detail) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Apr. 07, 2015
Stock options
Outstanding at December 31, 2014	29,761,519
Exercised	-1,251,758
Forfeited	-202,113
Outstanding at March 31, 2015	30,244,973
Exercisable at March 31, 2015	17,381,933
Stock options, weighted-average exercise price
Weighted-average exercise price of options outstanding at December 31, 2014 (in dollars per option)	$56.95
Weighted-average exercise price of options exercised (in dollars per option)	$44.87
Weighted-average exercise price of options forfeited (in dollars per option)	$68.54
Weighted-average exercise price of options outstanding at March 31, 2015 (in dollars per option)	$59.03
Weighted-average exercise price of options exercisable at March 31, 2015 (in dollars per option)	$50.53
Restricted shares and stock units, weighted-average fair value
Weighted-average fair value of nonvested restricted shares and restricted stock units at December 31, 2014 (in dollars per share)	$72.79
Weighted-average fair value of restricted shares and restricted stock units vested (in dollars per share)	$70.81
Weighted-average fair value of restricted shares and restricted stock units forfeited (in dollars per share)	$72.55
Weighted-average fair value of nonvested restricted shares and restricted stock units at March 31, 2015 (in dollars per share)	$74.60
Future stock-based compensation expense
Second quarter 2015 (dollars)	$35,400,000
Third quarter 2015 (dollars)	34,900,000
Fourth quarter 2015 (dollars)	31,400,000
2016 (dollars)	86,700,000
2017 through 2020 (dollars)	88,500,000
Total (dollars)	276,900,000
Time-based [Member]
Restricted shares and stock units, weighted-average fair value
Weighted-average fair value of restricted shares and restricted stock units granted (in dollars per share)	$82.96
Restricted shares [Member]
Restricted shares and stock units
Nonvested at December 31, 2014	2,061,559
Vested	-1,758
Forfeited	-25,893
Nonvested at March 31, 2015	2,033,908
Restricted shares [Member] | Time-based [Member]
Restricted shares and stock units
Granted	0
Restricted shares [Member] | Performance-based [Member]
Restricted shares and stock units
Nonvested at March 31, 2015	28,800
Restricted shares [Member] | Performance-based [Member] | Performance threshold met [Member]
Restricted shares and stock units
Nonvested at March 31, 2015	22,800
Restricted stock units [Member]
Restricted shares and stock units
Nonvested at December 31, 2014	1,006,753
Vested	-1,080
Forfeited	-24,990
Nonvested at March 31, 2015	1,634,176
Restricted stock units [Member] | Time-based [Member]
Restricted shares and stock units
Granted	625,518
Restricted stock units [Member] | Performance-based [Member]
Restricted shares and stock units
Nonvested at March 31, 2015	175,500
Restricted stock units [Member] | Performance-based [Member] | Performance threshold met [Member]
Restricted shares and stock units
Nonvested at March 31, 2015	121,050
Subsequent event [Member]
Stock options, weighted-average exercise price
Effect of special dividend		As a result of the special cash dividend declared by the Board of Directors in February 2015, the anti-dilution provisions of our employee long-term incentive plans and non-employee director plans (collectively the LTI Plans) require an automatic adjustment to neutralize the effect of the special dividend. On the special dividend's ex-dividend date (April 7, 2015), the number of shares authorized and the number of stock options outstanding and their exercise price were adjusted resulting in an increase of 749,578 stock options outstanding on the ex-dividend date, and no incremental compensation expense.
Adjustment to options outstanding on the special dividend's ex-dividend date		749,578
Incremental compensation expense (dollars)		$0
Employee global long-term incentive plan [Member] | Performance-based [Member]
Restricted shares and stock units, weighted-average fair value
Weighted-average fair value of restricted shares and restricted stock units granted (in dollars per share)	$82.97
Employee global long-term incentive plan [Member] | Restricted shares [Member] | Performance-based [Member]
Restricted shares and stock units
Granted	0
Employee global long-term incentive plan [Member] | Restricted stock units [Member] | Performance-based [Member]
Restricted shares and stock units
Granted	27,975
Employee global long-term incentive plan [Member] | Semiannual [Member]
Stock options
Grants	1,931,325
Stock options, weighted-average exercise price
Weighted-average exercise price of option grants (in dollars per option)	$82.97
Employee global long-term incentive plan [Member] | New hire [Member]
Stock options
Grants	6,000
Stock options, weighted-average exercise price
Weighted-average exercise price of option grants (in dollars per option)	$80.01

EARNINGS_PER_SHARE_CALCULATION2

EARNINGS PER SHARE CALCULATIONS. (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net income	$309.50	$304.30
Less: net income allocated to outstanding restricted stock and stock unit holders (basic)	-8.4	-3.2
Less: net income allocated to outstanding restricted stock and stock unit holders (diluted)	-8.4	-3.2
Net income allocated to common stockholders (basic)	301.1	301.1
Net income allocated to common stockholders (diluted)	$301.10	$301.10
Weighted-average common shares
Outstanding (shares)	258.7	260.4
Outstanding assuming dilution (shares)	265.7	268.6
Weighted-average outstanding stock options excluded (options)	4.6	3.3

OTHER_COMPREHENSIVE_INCOME_AND2

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME. (Deferred Tax Benefit (Income Tax)) (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Deferred tax benefit (income taxes) on:
Net unrealized holding gains or losses	($3.10)	($8.70)
Reclassification adjustment recognized in the provision for income taxes related to net gains realized on dispositions	5.9	12.4
Net deferred tax benefits on net unrealized holding gains or losses	2.8	3.7
Net deferred tax benefits (income taxes) on currency translation adjustments	0.8	-0.9
Total net deferred tax benefit	$3.60	$2.80

OTHER_COMPREHENSIVE_INCOME_AND3

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME. (Accumulated Other Comprehensive Income) (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Changes in each component of accumulated other comprehensive income
Balances at December 31, 2014	$136.40
Other comprehensive income (loss) before reclassifications and income taxes	14.8
Reclassification adjustments related to net gains realized on dispositions recognized in non-operating investment income, determined using average cost	-16.6
Other comprehensive loss before income taxes	-1.8	-7.1
Deferred tax benefits (income taxes)	3.6	2.8
Total other comprehensive income (loss)	1.8	-4.3
Balances at March 31, 2015	138.2
Net unrealized holding gains [Member]
Changes in each component of accumulated other comprehensive income
Balances at December 31, 2014	165.5
Other comprehensive income (loss) before reclassifications and income taxes	17
Reclassification adjustments related to net gains realized on dispositions recognized in non-operating investment income, determined using average cost	-16.6
Other comprehensive loss before income taxes	0.4
Deferred tax benefits (income taxes)	2.8
Total other comprehensive income (loss)	3.2
Balances at March 31, 2015	168.7
Net unrealized holding gains [Member] | Investments in sponsored funds [Member]
Changes in each component of accumulated other comprehensive income
Balances at December 31, 2014	165
Other comprehensive income (loss) before reclassifications and income taxes	16.6
Reclassification adjustments related to net gains realized on dispositions recognized in non-operating investment income, determined using average cost	-16.6
Other comprehensive loss before income taxes	0
Deferred tax benefits (income taxes)	2.9
Total other comprehensive income (loss)	2.9
Balances at March 31, 2015	167.9
Net unrealized holding gains [Member] | Equity share of UTIbs net unrealized holding gains [Member]
Changes in each component of accumulated other comprehensive income
Balances at December 31, 2014	0.5
Other comprehensive income (loss) before reclassifications and income taxes	0.4
Reclassification adjustments related to net gains realized on dispositions recognized in non-operating investment income, determined using average cost	0
Other comprehensive loss before income taxes	0.4
Deferred tax benefits (income taxes)	-0.1
Total other comprehensive income (loss)	0.3
Balances at March 31, 2015	0.8
Currency translation adjustments [Member]
Changes in each component of accumulated other comprehensive income
Balances at December 31, 2014	-29.1
Other comprehensive income (loss) before reclassifications and income taxes	-2.2
Reclassification adjustments related to net gains realized on dispositions recognized in non-operating investment income, determined using average cost	0
Other comprehensive loss before income taxes	-2.2
Deferred tax benefits (income taxes)	0.8
Total other comprehensive income (loss)	-1.4
Balances at March 31, 2015	($30.50)

OTHER_COMPREHENSIVE_INCOME_AND4

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Reclassification Adjustments) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Reclassification adjustment out of accumulated other comprehensive income
Non-operating investment income	$26.80	$42.10
Provision for income taxes	195.1	186.9
Net unrealized holding gains [Member] | Reclassification out of accumulated other comprehensive income [Member]
Reclassification adjustment out of accumulated other comprehensive income
Non-operating investment income	16.6
Provision for income taxes	$5.90	$12.40