T. Rowe Price (TROW) 10-Q 22 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	9 Months Ended
	Sep. 30, 2015	Oct. 21, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,015
Entity Registrant Name	PRICE T ROWE GROUP INC
Entity Incorporation, State Country Name	Maryland
Entity Tax Identification Number	522,264,646
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	21,202
Entity Filer Category	Large Accelerated Filer
Entity Listing, Par Value Per Share (in dollars per share)	$ 0.20
Entity Common Stock, Shares Outstanding (shares)		251,095,367
Entity Central Index Key	1,113,169
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 1,164,400,000	$ 1,506,100,000
Accounts receivable and accrued revenue	431,400,000	442,800,000
Investments in sponsored funds	1,805,100,000	1,884,000,000
Other investments	395,500,000	408,300,000
Property and equipment, net	603,000,000	586,400,000
Goodwill	665,700,000	665,700,000
Other assets	201,500,000	151,100,000
Total assets	5,266,600,000	5,644,400,000
Liabilities
Accounts payable and accrued expenses	172,800,000	143,400,000
Accrued compensation and related costs	405,500,000	82,200,000
Income taxes payable	14,700,000	23,600,000
Total liabilities	$ 593,000,000	$ 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 at December 31, 2014 and 251,704,000 at September 30, 2015	50,300,000	52,200,000
Additional capital in excess of par value	653,200,000	756,500,000
Retained earnings	3,881,200,000	4,450,100,000
Accumulated other comprehensive income	88,900,000	136,400,000
Total stockholders’ equity	4,673,600,000	5,395,200,000
Total liabilities and stockholders’ equity	$ 5,266,600,000	$ 5,644,400,000

UNAUDITED CONDENSED CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Stockholders' equity
Preferred stock, par value (in dollars per share)	$ 0.2	$ 0.2
Preferred stock, shares authorized	20,000,000	20,000,000
Common stock, par value (in dollars per share)	$ 0.2	$ 0.2
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	251,704,000	261,110,000

UNAUDITED CONDENSED CONSOLIDAT4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Investment advisory fees	$ 922.6	$ 890.7	$ 2,761.3	$ 2,572.4
Administrative fees	88.3	92.7	272.9	280.8
Distribution and servicing fees	38.1	37.4	114.2	106.5
Net revenues	1,049	1,020.8	3,148.4	2,959.7
Operating expenses
Compensation and related costs	379.4	346.4	1,086.8	991.7
Advertising and promotion	13.2	12.7	52.7	49.9
Distribution and servicing costs	38.1	37.4	114.2	106.5
Depreciation and amortization of property and equipment	33.1	28.3	94.4	83.4
Occupancy and facility costs	40.3	35.9	118.5	107.3
Other operating expenses	86.6	71.4	237.9	210
Total operating expenses	590.7	532.1	1,704.5	1,548.8
Net operating income	458.3	488.7	1,443.9	1,410.9
Non-operating investment income	0.3	5.2	60.1	73.4
Income before income taxes	458.6	493.9	1,504	1,484.3
Provision for income taxes	181.5	190.3	584.2	570.6
Net income	$ 277.1	$ 303.6	$ 919.8	$ 913.7
Earnings per share on common stock
Basic (in dollars per share)	$ 1.08	$ 1.15	$ 3.54	$ 3.47
Diluted (in dollars per share)	1.06	1.12	3.45	3.37
Dividends declared per share (in dollars per share)	$ 0.52	$ 0.44	$ 3.56	$ 1.32

UNAUDITED CONDENSED CONSOLIDAT5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 277.1	$ 303.6	$ 919.8	$ 913.7
Other comprehensive loss
Net unrealized holding gains (losses) on available-for-sale investments	(54.8)	(56.8)	(32.7)	3
Reclassification adjustments recognized in non-operating investment income: net gains realized on dispositions determined using average cost	(9.6)	(0.9)	(48.9)	(44.6)
Reclassification adjustments recognized in non-operating investment income: other-than-temporary impairments	4.8	0	4.8	0
Total net unrealized holding losses recognized in other comprehensive income	(59.6)	(57.7)	(76.8)	(41.6)
Currency translation adjustments	(5.6)	(2.5)	(9.7)	4.8
Reclassification loss recognized in non-operating investment income upon deconsolidation of sponsored fund subsidiary	5.8	0	5.8	0
Total currency translation adjustments	0.2	(2.5)	(3.9)	4.8
Other comprehensive loss before income taxes	(59.4)	(60.2)	(80.7)	(36.8)
Deferred tax benefits	22.5	23.3	33.2	14.5
Total other comprehensive loss	(36.9)	(36.9)	(47.5)	(22.3)
Total comprehensive income	$ 240.2	$ 266.7	$ 872.3	$ 891.4

UNAUDITED CONDENSED CONSOLIDAT6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net income	$ 919.8	$ 913.7
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of property and equipment	94.4	83.4
Stock-based compensation expense	107.4	95.9
Realized gains on dispositions of sponsored funds	(48.9)	(44.6)
Net (gains) losses recognized on other investments	4.3	(9)
Net change in trading securities held by consolidated sponsored investment portfolios	(10)	(90.1)
Other changes in assets and liabilities	304.5	266.8
Net cash provided by operating activities	1,371.5	1,216.1
Cash flows from investing activities
Investments in sponsored funds	(155.3)	(445.8)
Dispositions of sponsored funds	227.7	123.8
Additions to property and equipment	(114.6)	(82.6)
Other investing activity	(6.4)	(11.1)
Net cash used in investing activities	(48.6)	(415.7)
Cash flows from financing activities
Repurchases of common stock	(820.7)	(283.7)
Common share issuances under stock-based compensation plans	61.2	52.6
Excess tax benefits from stock-based compensation plans	22.1	24.4
Dividends paid	(927.2)	(347.2)
Net cash used in financing activities	(1,664.6)	(553.9)
Cash and cash equivalents
Net change during period	(341.7)	246.5
At beginning of year	1,506.1	1,398
At end of period	$ 1,164.4	$ 1,644.5

UNAUDITED CONDENSED CONSOLIDAT7

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 9 months ended Sep. 30, 2015 - USD ($) shares in Thousands, $ in Millions	Total	Common stock [Member]	Additional capital in excess of par value [Member]	Retained earnings [Member]	Accumulated other comprehensive income [Member]
Balances (shares) at Dec. 31, 2014	261,110
Balances at Dec. 31, 2014	$ 5,395.2	$ 52.2	$ 756.5	$ 4,450.1	$ 136.4
Net income	919.8			919.8
Other comprehensive loss, net of tax	(47.5)				(47.5)
Dividends declared	(927.2)			(927.2)
Common stock-based compensation plans activity
Shares issued upon option exercises (shares)		1,816
Shares issued upon option exercises	55.9	$ 0.4	55.5
Restricted shares issued, net of shares withheld for taxes (shares)		7
Restricted shares issued, net of shares withheld for taxes	(0.2)	$ 0	(0.2)
Shares issued upon vesting of restricted stock units, net of shares withheld for taxes (shares)		5
Shares issued upon vesting of restricted stock units, net of shares withheld for taxes	0	$ 0	0
Forfeiture of restricted awards (shares)		(58)
Forfeiture of restricted awards	0	$ 0	0
Net tax benefits	21.9		21.9
Stock-based compensation expense	107.4		107.4
Restricted stock units issued as dividend equivalents	0		0.2	(0.2)
Common shares repurchased (shares)		(11,176)
Common shares repurchased	$ (851.7)	$ (2.3)	(288.1)	(561.3)
Balances (shares) at Sep. 30, 2015	251,704
Balances at Sep. 30, 2015	$ 4,673.6	$ 50.3	$ 653.2	$ 3,881.2	$ 88.9

THE COMPANY AND BASIS OF PREPAR

THE COMPANY AND BASIS OF PREPARATION.	9 Months Ended
	Sep. 30, 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. 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.	9 Months Ended
	Sep. 30, 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 $238.4 million at September 30, 2015 . Revenues (in millions) from advisory services provided under agreements with our sponsored U.S. mutual funds and other investment clients include: Three months ended Nine months ended 9/30/2014 9/30/2015 9/30/2014 9/30/2015 Sponsored U.S. mutual funds Stock and blended asset $ 537.8 $ 563.0 $ 1,549.8 $ 1,681.7 Bond and money market 103.8 107.8 296.0 318.0 641.6 670.8 1,845.8 1,999.7 Other investment portfolios Stock and blended asset 210.8 212.2 610.1 645.2 Bond, money market, and stable value 38.3 39.6 116.5 116.4 249.1 251.8 726.6 761.6 Total $ 890.7 $ 922.6 $ 2,572.4 $ 2,761.3 The following table summarizes the investment portfolios and assets under management (in billions) on which we earn advisory fees. Average during Average during the third quarter of the first nine months of 2014 2015 2014 2015 Sponsored U.S. mutual funds Stock and blended asset $ 367.5 $ 386.0 $ 356.3 $ 388.8 Bond and money market 104.2 105.7 100.6 106.2 471.7 491.7 456.9 495.0 Other investment portfolios Stock and blended asset 205.7 207.2 200.2 210.3 Bond, money market, and stable value 62.1 64.2 62.3 63.3 267.8 271.4 262.5 273.6 Total $ 739.5 $ 763.1 $ 719.4 $ 768.6 As of 12/31/2014 9/30/2015 Sponsored U.S. mutual funds Stock and blended asset $ 373.0 $ 362.8 Bond and money market 104.6 103.2 477.6 466.0 Other investment portfolios Stock and blended asset 206.9 195.1 Bond, money market, and stable value 62.3 64.4 269.2 259.5 Total $ 746.8 $ 725.5 Investors that we serve are primarily domiciled in the U.S.; investment advisory clients outside the U.S. account for 5.6% and 4.9% of our assets under management at December 31, 2014 and September 30, 2015 , respectively. The following table summarizes the other fees (in millions) earned from our sponsored U.S. mutual funds. Three months ended Nine months ended 9/30/2014 9/30/2015 9/30/2014 9/30/2015 Administrative fees $ 73.5 $ 71.2 $ 222.1 $ 221.8 Distribution and servicing fees $ 37.4 $ 38.1 $ 106.5 $ 114.2

INVESTMENTS IN SPONSORED FUNDS

INVESTMENTS IN SPONSORED FUNDS - AVAILABLE-FOR-SALE.	9 Months Ended
	Sep. 30, 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 cost Unrealized holding Aggregate fair value gains losses December 31, 2014 Stock and blended asset funds $ 505.4 $ 231.4 $ (4.2 ) $ 732.6 Bond funds 1,107.9 52.0 (8.5 ) 1,151.4 Total $ 1,613.3 $ 283.4 $ (12.7 ) $ 1,884.0 September 30, 2015 Stock and blended asset funds $ 435.4 $ 180.2 $ (11.4 ) $ 604.2 Bond funds 1,175.9 38.0 (13.0 ) 1,200.9 Total $ 1,611.3 $ 218.2 $ (24.4 ) $ 1,805.1 The unrealized holding losses are attributable to 12 fund holdings with an aggregate fair value of $788.5 million at December 31, 2014 , and 25 fund holdings with an aggregate fair value of $997.5 million at September 30, 2015 . These unrealized losses are considered temporary.

OTHER INVESTMENTS.

OTHER INVESTMENTS.	9 Months Ended
	Sep. 30, 2015
Investments, All Other Investments [Abstract]
Other investments	NOTE 4 – OTHER INVESTMENTS. These investments (in millions) include: 12/31/2014 9/30/2015 Cost method investments $ 63.7 $ 66.4 Equity method investments 26% interest in UTI Asset Management Company Limited (India) 132.4 133.9 Sponsored fund investments 125.6 114.8 Other investments 5.7 5.7 Investments held as trading Sponsored fund investments 10.3 21.3 Securities held by consolidated sponsored investment portfolios 69.6 52.4 U.S. Treasury note 1.0 1.0 Total $ 408.3 $ 395.5 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 September 30, 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. During the third quarter of 2015, we deconsolidated a sponsored investment portfolio, in which we provided initial seed capital at the time of its formation, as we no longer had a controlling financial interest. Accordingly, we deconsolidated the carrying value of this investment, which, at the deconsolidation date, was $20.3 million . Upon deconsolidation, we reclassified a currency translation loss of $5.8 million from accumulated other comprehensive income to the non-operating investment income line of our condensed consolidated statements of income. The impact of the deconsolidation on our condensed consolidated balance sheet was immaterial. We are reporting our residual interest in this sponsored investment portfolio as an equity method investment.

FAIR VALUE MEASUREMENTS.

FAIR VALUE MEASUREMENTS.	9 Months Ended
	Sep. 30, 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 December 31, 2014 Cash equivalents $ 1,345.8 $ — Investments in sponsored funds - available-for-sale 1,884.0 — Investments held as trading 27.7 52.2 Total $ 3,257.5 $ 52.2 September 30, 2015 Cash equivalents $ 909.6 $ — Investments in sponsored funds - available-for-sale 1,805.1 — Investments held as trading 32.0 41.7 Total $ 2,746.7 $ 41.7

STOCKHOLDERS' EQUITY.

STOCKHOLDERS' EQUITY.	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' equity	NOTE 6 – STOCKHOLDERS’ EQUITY. DIVIDENDS. Regular cash dividends declared per share during the first nine months of 2014 and 2015 were $1.32 and $1.56 respectively. A $2.00 per share special dividend was also declared and paid during the first nine months of 2015. COMMON SHARE REPURCHASES. At September 30, 2015 , a liability of $31.0 million is included in accounts payable and accrued expenses for common stock repurchases that settled by October 5, 2015.

STOCK-BASED COMPENSATION.

STOCK-BASED COMPENSATION.	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation	NOTE 7 – STOCK-BASED COMPENSATION. 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. STOCK OPTIONS. The following table summarizes the status of and changes in our stock option grants during the first nine months of 2015 . All numbers have been adjusted to reflect the effect of the special dividend as noted above. Options Weighted- average exercise price Outstanding at December 31, 2014 30,463,211 $ 55.63 Semi-annual grants 3,948,307 $ 75.95 New hire grants 24,735 $ 73.24 Non-employee director grants 8,700 $ 82.40 Exercised (2,408,351 ) $ 42.95 Forfeited (370,846 ) $ 68.26 Expired (3,140 ) $ 63.33 Outstanding at September 30, 2015 31,662,616 $ 59.00 Exercisable at September 30, 2015 16,685,964 $ 49.93 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 nine months of 2015 . Restricted shares Restricted stock units Weighted-average fair value Nonvested at December 31, 2014 2,061,559 1,006,753 $ 72.79 Time-based grants 9,550 1,418,336 $ 76.34 Performance-based grants — 64,050 $ 76.18 Vested (16,452 ) (12,390 ) $ 77.24 Forfeited (57,953 ) (36,251 ) $ 73.27 Nonvested at September 30, 2015 1,996,704 2,440,498 $ 73.94 The nonvested at September 30, 2015 , includes 28,800 performance-based restricted shares and 211,575 performance-based restricted stock units. These performance-based restricted shares and units include 28,800 restricted shares and 147,525 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 September 30, 2015 . Estimated future compensation expense will change to reflect future option grants; future awards of unrestricted shares and restricted stock units; changes in estimated forfeitures; changes in the probability of performance thresholds being met; and adjustments for actual forfeitures. Fourth quarter 2015 $ 40.2 2016 117.5 2017 through 2020 125.7 Total $ 283.4

EARNINGS PER SHARE CALCULATIONS

EARNINGS PER SHARE CALCULATIONS.	9 Months Ended
	Sep. 30, 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 reflect 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 Nine months ended 9/30/2014 9/30/2015 9/30/2014 9/30/2015 Net income $ 303.6 $ 277.1 $ 913.7 $ 919.8 Less: net income allocated to outstanding restricted stock and stock unit holders (3.8 ) (4.1 ) (10.5 ) (11.8 ) Net income allocated to common stockholders $ 299.8 $ 273.0 $ 903.2 $ 908.0 Weighted-average common shares Outstanding 259.7 252.7 260.2 256.3 Outstanding assuming dilution 267.4 258.6 268.2 262.9 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 Nine months ended 9/30/2014 9/30/2015 9/30/2014 9/30/2015 Weighted-average outstanding stock options excluded 3.9 6.9 3.7 5.7

OTHER COMPREHENSIVE INCOME AND

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME.	9 Months Ended
	Sep. 30, 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 Nine months ended 9/30/2014 9/30/2015 9/30/2014 9/30/2015 Net deferred tax benefits on: Net unrealized holding gains or losses $ 22.2 $ 21.0 $ (1.1 ) $ 15.5 Reclassification adjustments recognized in the provision for income taxes: Net gains realized on dispositions .3 3.5 17.3 18.2 Other-than-temporary impairments recognized — (1.9 ) — (1.9 ) Net deferred tax benefits on net unrealized holding gains or losses 22.5 22.6 16.2 31.8 Currency translation adjustments .8 1.1 (1.7 ) 2.6 Reclassification adjustment recognized in the provision for income taxes upon deconsolidation of sponsored fund subsidiary — (1.2 ) — (1.2 ) Total deferred tax benefits (income taxes) on currency translation adjustments .8 (.1 ) (1.7 ) 1.4 Total net deferred tax benefits $ 23.3 $ 22.5 $ 14.5 $ 33.2 The changes (in millions) in each component of accumulated other comprehensive income, including reclassification adjustments for the first nine months 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 (32.8 ) .1 (32.7 ) (9.7 ) (42.4 ) Reclassification adjustments recognized in non-operating investment income (44.1 ) — (44.1 ) 5.8 (38.3 ) (76.9 ) .1 (76.8 ) (3.9 ) (80.7 ) Deferred tax benefits 31.8 — 31.8 1.4 33.2 Other comprehensive income (loss) (45.1 ) .1 (45.0 ) (2.5 ) (47.5 ) Balances at September 30, 2015 $ 119.9 $ .6 $ 120.5 $ (31.6 ) $ 88.9

INFORMATION ABOUT RECEIVABLES17

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Tables)	9 Months Ended
	Sep. 30, 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 U.S. mutual funds and other investment clients include: Three months ended Nine months ended 9/30/2014 9/30/2015 9/30/2014 9/30/2015 Sponsored U.S. mutual funds Stock and blended asset $ 537.8 $ 563.0 $ 1,549.8 $ 1,681.7 Bond and money market 103.8 107.8 296.0 318.0 641.6 670.8 1,845.8 1,999.7 Other investment portfolios Stock and blended asset 210.8 212.2 610.1 645.2 Bond, money market, and stable value 38.3 39.6 116.5 116.4 249.1 251.8 726.6 761.6 Total $ 890.7 $ 922.6 $ 2,572.4 $ 2,761.3
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 Average during the third quarter of the first nine months of 2014 2015 2014 2015 Sponsored U.S. mutual funds Stock and blended asset $ 367.5 $ 386.0 $ 356.3 $ 388.8 Bond and money market 104.2 105.7 100.6 106.2 471.7 491.7 456.9 495.0 Other investment portfolios Stock and blended asset 205.7 207.2 200.2 210.3 Bond, money market, and stable value 62.1 64.2 62.3 63.3 267.8 271.4 262.5 273.6 Total $ 739.5 $ 763.1 $ 719.4 $ 768.6 As of 12/31/2014 9/30/2015 Sponsored U.S. mutual funds Stock and blended asset $ 373.0 $ 362.8 Bond and money market 104.6 103.2 477.6 466.0 Other investment portfolios Stock and blended asset 206.9 195.1 Bond, money market, and stable value 62.3 64.4 269.2 259.5 Total $ 746.8 $ 725.5
Components of other fees	The following table summarizes the other fees (in millions) earned from our sponsored U.S. mutual funds. Three months ended Nine months ended 9/30/2014 9/30/2015 9/30/2014 9/30/2015 Administrative fees $ 73.5 $ 71.2 $ 222.1 $ 221.8 Distribution and servicing fees $ 37.4 $ 38.1 $ 106.5 $ 114.2

INVESTMENTS IN SPONSORED FUND18

INVESTMENTS IN SPONSORED FUNDS - AVAILABLE-FOR-SALE. (Tables)	9 Months Ended
	Sep. 30, 2015
Available-for-sale Securities [Abstract]
Investments in sponsored funds reconciliation	These sponsored funds (in millions) are voting interest entities and include: Aggregate cost Unrealized holding Aggregate fair value gains losses December 31, 2014 Stock and blended asset funds $ 505.4 $ 231.4 $ (4.2 ) $ 732.6 Bond funds 1,107.9 52.0 (8.5 ) 1,151.4 Total $ 1,613.3 $ 283.4 $ (12.7 ) $ 1,884.0 September 30, 2015 Stock and blended asset funds $ 435.4 $ 180.2 $ (11.4 ) $ 604.2 Bond funds 1,175.9 38.0 (13.0 ) 1,200.9 Total $ 1,611.3 $ 218.2 $ (24.4 ) $ 1,805.1

OTHER INVESTMENTS. (Tables)

OTHER INVESTMENTS. (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, All Other Investments [Abstract]
Components of other investments	These investments (in millions) include: 12/31/2014 9/30/2015 Cost method investments $ 63.7 $ 66.4 Equity method investments 26% interest in UTI Asset Management Company Limited (India) 132.4 133.9 Sponsored fund investments 125.6 114.8 Other investments 5.7 5.7 Investments held as trading Sponsored fund investments 10.3 21.3 Securities held by consolidated sponsored investment portfolios 69.6 52.4 U.S. Treasury note 1.0 1.0 Total $ 408.3 $ 395.5

FAIR VALUE MEASUREMENTS. (Table

FAIR VALUE MEASUREMENTS. (Tables)	9 Months Ended
	Sep. 30, 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 December 31, 2014 Cash equivalents $ 1,345.8 $ — Investments in sponsored funds - available-for-sale 1,884.0 — Investments held as trading 27.7 52.2 Total $ 3,257.5 $ 52.2 September 30, 2015 Cash equivalents $ 909.6 $ — Investments in sponsored funds - available-for-sale 1,805.1 — Investments held as trading 32.0 41.7 Total $ 2,746.7 $ 41.7

STOCK-BASED COMPENSATION. (Tabl

STOCK-BASED COMPENSATION. (Tables)	9 Months Ended
	Sep. 30, 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 nine months of 2015 . All numbers have been adjusted to reflect the effect of the special dividend as noted above. Options Weighted- average exercise price Outstanding at December 31, 2014 30,463,211 $ 55.63 Semi-annual grants 3,948,307 $ 75.95 New hire grants 24,735 $ 73.24 Non-employee director grants 8,700 $ 82.40 Exercised (2,408,351 ) $ 42.95 Forfeited (370,846 ) $ 68.26 Expired (3,140 ) $ 63.33 Outstanding at September 30, 2015 31,662,616 $ 59.00 Exercisable at September 30, 2015 16,685,964 $ 49.93
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 nine months of 2015 . Restricted shares Restricted stock units Weighted-average fair value Nonvested at December 31, 2014 2,061,559 1,006,753 $ 72.79 Time-based grants 9,550 1,418,336 $ 76.34 Performance-based grants — 64,050 $ 76.18 Vested (16,452 ) (12,390 ) $ 77.24 Forfeited (57,953 ) (36,251 ) $ 73.27 Nonvested at September 30, 2015 1,996,704 2,440,498 $ 73.94
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 September 30, 2015 . Estimated future compensation expense will change to reflect future option grants; future awards of unrestricted shares and restricted stock units; changes in estimated forfeitures; changes in the probability of performance thresholds being met; and adjustments for actual forfeitures. Fourth quarter 2015 $ 40.2 2016 117.5 2017 through 2020 125.7 Total $ 283.4

EARNINGS PER SHARE CALCULATIO22

EARNINGS PER SHARE CALCULATIONS. (Tables)	9 Months Ended
	Sep. 30, 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 reflect 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 Nine months ended 9/30/2014 9/30/2015 9/30/2014 9/30/2015 Net income $ 303.6 $ 277.1 $ 913.7 $ 919.8 Less: net income allocated to outstanding restricted stock and stock unit holders (3.8 ) (4.1 ) (10.5 ) (11.8 ) Net income allocated to common stockholders $ 299.8 $ 273.0 $ 903.2 $ 908.0 Weighted-average common shares Outstanding 259.7 252.7 260.2 256.3 Outstanding assuming dilution 267.4 258.6 268.2 262.9
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 Nine months ended 9/30/2014 9/30/2015 9/30/2014 9/30/2015 Weighted-average outstanding stock options excluded 3.9 6.9 3.7 5.7

OTHER COMPREHENSIVE INCOME AN23

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME. (Tables)	9 Months Ended
	Sep. 30, 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 Nine months ended 9/30/2014 9/30/2015 9/30/2014 9/30/2015 Net deferred tax benefits on: Net unrealized holding gains or losses $ 22.2 $ 21.0 $ (1.1 ) $ 15.5 Reclassification adjustments recognized in the provision for income taxes: Net gains realized on dispositions .3 3.5 17.3 18.2 Other-than-temporary impairments recognized — (1.9 ) — (1.9 ) Net deferred tax benefits on net unrealized holding gains or losses 22.5 22.6 16.2 31.8 Currency translation adjustments .8 1.1 (1.7 ) 2.6 Reclassification adjustment recognized in the provision for income taxes upon deconsolidation of sponsored fund subsidiary — (1.2 ) — (1.2 ) Total deferred tax benefits (income taxes) on currency translation adjustments .8 (.1 ) (1.7 ) 1.4 Total net deferred tax benefits $ 23.3 $ 22.5 $ 14.5 $ 33.2
Changes in accumulated other comprehensive income	The changes (in millions) in each component of accumulated other comprehensive income, including reclassification adjustments for the first nine months 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 (32.8 ) .1 (32.7 ) (9.7 ) (42.4 ) Reclassification adjustments recognized in non-operating investment income (44.1 ) — (44.1 ) 5.8 (38.3 ) (76.9 ) .1 (76.8 ) (3.9 ) (80.7 ) Deferred tax benefits 31.8 — 31.8 1.4 33.2 Other comprehensive income (loss) (45.1 ) .1 (45.0 ) (2.5 ) (47.5 ) Balances at September 30, 2015 $ 119.9 $ .6 $ 120.5 $ (31.6 ) $ 88.9

INFORMATION ABOUT RECEIVABLES24

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Receivables from Sponsored Mutual Funds) (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Receivables from sponsored mutual funds
Accounts receivable for advisory fees and advisory-related administrative services	$ 431.4	$ 442.8
Sponsored U.S. mutual funds [Member]
Receivables from sponsored mutual funds
Accounts receivable for advisory fees and advisory-related administrative services	$ 238.4	$ 245.8

INFORMATION ABOUT RECEIVABLES25

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Investment Advisory Services) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Investment advisory services
Revenues from advisory services	$ 922.6	$ 890.7	$ 2,761.3	$ 2,572.4
Average assets under management	763,100	739,500	768,600	719,400
Period end assets under management	725,500		725,500		$ 746,800
Sponsored U.S. mutual funds [Member]
Investment advisory services
Revenues from advisory services	670.8	641.6	1,999.7	1,845.8
Average assets under management	491,700	471,700	495,000	456,900
Period end assets under management	466,000		466,000		477,600
Sponsored U.S. mutual funds [Member] | Stock and blended asset [Member]
Investment advisory services
Revenues from advisory services	563	537.8	1,681.7	1,549.8
Average assets under management	386,000	367,500	388,800	356,300
Period end assets under management	362,800		362,800		373,000
Sponsored U.S. mutual funds [Member] | Bond and money market [Member]
Investment advisory services
Revenues from advisory services	107.8	103.8	318	296
Average assets under management	105,700	104,200	106,200	100,600
Period end assets under management	103,200		103,200		104,600
Other investment portfolios [Member]
Investment advisory services
Revenues from advisory services	251.8	249.1	761.6	726.6
Average assets under management	271,400	267,800	273,600	262,500
Period end assets under management	259,500		259,500		269,200
Other investment portfolios [Member] | Stock and blended asset [Member]
Investment advisory services
Revenues from advisory services	212.2	210.8	645.2	610.1
Average assets under management	207,200	205,700	210,300	200,200
Period end assets under management	195,100		195,100		206,900
Other investment portfolios [Member] | Bond, money market, and stable value [Member]
Investment advisory services
Revenues from advisory services	39.6	38.3	116.4	116.5
Average assets under management	64,200	$ 62,100	63,300	$ 62,300
Period end assets under management	$ 64,400		$ 64,400		$ 62,300

INFORMATION ABOUT RECEIVABLES26

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Revenues and Services Concentration) (Detail) - Geographic concentration [Member]	Sep. 30, 2015	Dec. 31, 2014
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	4.90%	5.60%
Concentration risk, benchmark description	assets under management at September 30, 2015	assets under management at December 31, 2014

INFORMATION ABOUT RECEIVABLES27

INFORMATION ABOUT RECEIVABLES, REVENUES, AND SERVICES. (Other Fees Earned from Sponsored U.S. Mutual Funds) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other fees earned from sponsored U.S. mutual funds
Administrative fees	$ 88.3	$ 92.7	$ 272.9	$ 280.8
Distribution and servicing fees	38.1	37.4	114.2	106.5
Sponsored U.S. mutual funds [Member]
Other fees earned from sponsored U.S. mutual funds
Administrative fees	71.2	73.5	221.8	222.1
Distribution and servicing fees	$ 38.1	$ 37.4	$ 114.2	$ 106.5

INVESTMENTS IN SPONSORED FUND28

INVESTMENTS IN SPONSORED FUNDS - AVAILABLE-FOR-SALE. (Detail) $ in Millions	Sep. 30, 2015USD ($)security	Dec. 31, 2014USD ($)security
Investments in sponsored funds
Aggregate cost	$ 1,611.3	$ 1,613.3
Unrealized holding gains	218.2	283.4
Unrealized holding losses	(24.4)	(12.7)
Aggregate fair value	$ 1,805.1	$ 1,884
Fund holdings with temporary unrealized holding losses (number of securities) | security	25	12
Unrealized holding losses at period end are attributable to fund holdings with an aggregate fair value of	$ 997.5	$ 788.5
Stock and blended asset funds [Member]
Investments in sponsored funds
Aggregate cost	435.4	505.4
Unrealized holding gains	180.2	231.4
Unrealized holding losses	(11.4)	(4.2)
Aggregate fair value	604.2	732.6
Bond funds [Member]
Investments in sponsored funds
Aggregate cost	1,175.9	1,107.9
Unrealized holding gains	38	52
Unrealized holding losses	(13)	(8.5)
Aggregate fair value	$ 1,200.9	$ 1,151.4

OTHER INVESTMENTS. (Detail)

OTHER INVESTMENTS. (Detail) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Other investments
Cost method investments	$ 66.4	$ 63.7
U.S. Treasury note	1	1
Total	395.5	408.3
Deconsolidation value	20.3
Sponsored fund investments held as trading [Member]
Other investments
Investments held as trading	21.3	10.3
Securities held by consolidated sponsored investment portfolios [Member]
Other investments
Investments held as trading	52.4	69.6
26% interest in UTI Asset Management Company Limited (India) [Member]
Other investments
Equity method investments	$ 133.9	$ 132.4
Equity method investment (ownership percentage)	26.00%	26.00%
Sponsored fund equity method investments [Member]
Other investments
Equity method investments	$ 114.8	$ 125.6
Other equity method investments [Member]
Other investments
Equity method investments	5.7	$ 5.7
Non-operating investment income [Member]
Other investments
Loss recognized upon deconsolidation	$ 5.8

FAIR VALUE MEASUREMENTS. (Detai

FAIR VALUE MEASUREMENTS. (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair value measurements
Investments in sponsored funds	$ 1,805.1	$ 1,884
Level 1 [Member]
Fair value measurements
Total	2,746.7	3,257.5
Level 1 [Member] | Fair value, measurements, recurring [Member]
Fair value measurements
Cash equivalents	909.6	1,345.8
Investments in sponsored funds	1,805.1	1,884
Investments held as trading	32	27.7
Level 2 [Member]
Fair value measurements
Total	41.7	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	$ 41.7	$ 52.2

STOCKHOLDERS' EQUITY. (Dividend

STOCKHOLDERS' EQUITY. (Dividends) (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Dividends
Cash dividends declared per share	$ 0.52	$ 0.44	$ 3.56	$ 1.32
Regular cash dividend [Member]
Dividends
Cash dividends declared per share			1.56	$ 1.32
Special cash dividend [Member]
Dividends
Cash dividends declared per share			2
Cash dividends paid per share			$ 2

STOCKHOLDERS' EQUITY. (Common S

STOCKHOLDERS' EQUITY. (Common Share Repurchases) (Detail) $ in Millions	Sep. 30, 2015USD ($)
Accounts payable and accrued expenses [Member]
Other disclosures
Liability for common stock repurchases	$ 31

STOCK-BASED COMPENSATION. (Effe

STOCK-BASED COMPENSATION. (Effect of Special Cash Dividend) (Detail)	Apr. 07, 2015USD ($)shares
Effect Of Special Cash Dividend [Abstract]
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 | shares	749,578
Incremental compensation expense	$ 0

STOCK-BASED COMPENSATION. (Stoc

STOCK-BASED COMPENSATION. (Stock Options) (Detail)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Stock-based compensation
Outstanding at December 31, 2014 | shares	30,463,211
Exercised | shares	(2,408,351)
Forfeited | shares	(370,846)
Expired | shares	(3,140)
Outstanding at September 30, 2015 | shares	31,662,616
Exercisable at September 30, 2015 | shares	16,685,964
Weighted-average exercise price of options outstanding at December 31, 2014	$ 55.63
Weighted-average exercise price of options exercised	42.95
Weighted-average exercise price of options forfeited	68.26
Weighted-average exercise price of options expired	63.33
Weighted-average exercise price of options outstanding at September 30, 2015	59
Weighted-average exercise price of options exercisable at September 30, 2015	$ 49.93
Employee global long-term incentive plan [Member] | Semiannual [Member]
Stock-based compensation
Grants | shares	3,948,307
Weighted-average exercise price of option grants	$ 75.95
Employee global long-term incentive plan [Member] | New hire [Member]
Stock-based compensation
Grants | shares	24,735
Weighted-average exercise price of option grants	$ 73.24
Non employee director [Member]
Stock-based compensation
Grants | shares	8,700
Weighted-average exercise price of option grants	$ 82.40

STOCK-BASED COMPENSATION. (Rest

STOCK-BASED COMPENSATION. (Restricted Shares and Stock Units) (Detail)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Stock-based compensation
Weighted-average fair value of nonvested restricted shares and restricted stock units at December 31, 2014 (in dollars per share) | $ / shares	$ 72.79
Weighted-average fair value of restricted shares and restricted stock units vested (in dollars per share) | $ / shares	77.24
Weighted-average fair value of restricted shares and restricted stock units forfeited (in dollars per share) | $ / shares	73.27
Weighted-average fair value of nonvested restricted shares and restricted stock units at September 30, 2015 (in dollars per share) | $ / shares	73.94
Time-based [Member]
Stock-based compensation
Weighted-average fair value of restricted shares and restricted stock units granted (in dollars per share) | $ / shares	76.34
Performance-based [Member]
Stock-based compensation
Weighted-average fair value of restricted shares and restricted stock units granted (in dollars per share) | $ / shares	$ 76.18
Restricted shares [Member]
Stock-based compensation
Nonvested at December 31, 2014	2,061,559
Vested	(16,452)
Forfeited	(57,953)
Nonvested at September 30, 2015	1,996,704
Restricted shares [Member] | Time-based [Member]
Stock-based compensation
Grants	9,550
Restricted shares [Member] | Performance-based [Member]
Stock-based compensation
Grants	0
Nonvested at September 30, 2015	28,800
Restricted shares [Member] | Performance-based [Member] | Performance threshold met [Member]
Stock-based compensation
Nonvested at September 30, 2015	28,800
Restricted stock units [Member]
Stock-based compensation
Nonvested at December 31, 2014	1,006,753
Vested	(12,390)
Forfeited	(36,251)
Nonvested at September 30, 2015	2,440,498
Restricted stock units [Member] | Time-based [Member]
Stock-based compensation
Grants	1,418,336
Restricted stock units [Member] | Performance-based [Member]
Stock-based compensation
Grants	64,050
Nonvested at September 30, 2015	211,575
Restricted stock units [Member] | Performance-based [Member] | Performance threshold met [Member]
Stock-based compensation
Nonvested at September 30, 2015	147,525

STOCK-BASED COMPENSATION. (Futu

STOCK-BASED COMPENSATION. (Future Stock-Based Compensation Expense) (Detail) $ in Millions	Sep. 30, 2015USD ($)
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized [Abstract]
Fourth quarter 2015	$ 40.2
2,016	117.5
2017 through 2020	125.7
Total	$ 283.4

EARNINGS PER SHARE CALCULATIO37

EARNINGS PER SHARE CALCULATIONS. (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 277.1	$ 303.6	$ 919.8	$ 913.7
Less: net income allocated to outstanding restricted stock and stock unit holders (basic)	(4.1)	(3.8)	(11.8)	(10.5)
Less: net income allocated to outstanding restricted stock and stock unit holders (diluted)	(4.1)	(3.8)	(11.8)	(10.5)
Net income allocated to common stockholders (basic)	273	299.8	908	903.2
Net income allocated to common stockholders (diluted)	$ 273	$ 299.8	$ 908	$ 903.2
Weighted-average common shares
Outstanding (shares)	252.7	259.7	256.3	260.2
Outstanding assuming dilution (shares)	258.6	267.4	262.9	268.2
Weighted-average outstanding stock options excluded (options)	6.9	3.9	5.7	3.7

OTHER COMPREHENSIVE INCOME AN38

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME. (Deferred Tax Benefit (Income Tax)) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated other comprehensive income
Total net deferred tax benefits	$ 22.5	$ 23.3	$ 33.2	$ 14.5
Net unrealized holding gains or losses [Member]
Accumulated other comprehensive income
Net deferred tax benefits on other comprehensive income (loss) before reclassifications	21	22.2	15.5	(1.1)
Total net deferred tax benefits	22.6	22.5	31.8	16.2
Net unrealized holding gains or losses [Member] | Sale of individual securities [Member]
Accumulated other comprehensive income
Net deferred tax benefits on reclassifications from AOCI	3.5	0.3	18.2	17.3
Net unrealized holding gains or losses [Member] | Other than temporary impairments recognized [Member]
Accumulated other comprehensive income
Net deferred tax benefits on reclassifications from AOCI	(1.9)	0	(1.9)	0
Currency translation adjustments [Member]
Accumulated other comprehensive income
Net deferred tax benefits on other comprehensive income (loss) before reclassifications	1.1	0.8	2.6	(1.7)
Net deferred tax benefits on reclassifications from AOCI	(1.2)	0	(1.2)	0
Total net deferred tax benefits	(0.1)	0.8	1.4	(1.7)
Total accumulated other comprehensive income [Member]
Accumulated other comprehensive income
Total net deferred tax benefits	$ 22.5	$ 23.3	$ 33.2	$ 14.5

OTHER COMPREHENSIVE INCOME AN39

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME. (Accumulated Other Comprehensive Income) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated other comprehensive income
Balances			$ 5,395.2
Other comprehensive loss before income taxes	$ (59.4)	$ (60.2)	(80.7)	$ (36.8)
Deferred tax benefits	22.5	23.3	33.2	14.5
Total other comprehensive loss	(36.9)	(36.9)	(47.5)	(22.3)
Balances	4,673.6		4,673.6
Net unrealized holding gains [Member]
Accumulated other comprehensive income
Balances			165.5
Other comprehensive income (loss) before reclassifications and income taxes			(32.7)
Reclassification adjustments recognized in non-operating investment income			(44.1)
Other comprehensive loss before income taxes			(76.8)
Deferred tax benefits	22.6	22.5	31.8	16.2
Total other comprehensive loss			(45)
Balances	120.5		120.5
Net unrealized holding gains [Member] | Investments in sponsored funds [Member]
Accumulated other comprehensive income
Balances			165
Other comprehensive income (loss) before reclassifications and income taxes			(32.8)
Reclassification adjustments recognized in non-operating investment income			(44.1)
Other comprehensive loss before income taxes			(76.9)
Deferred tax benefits			31.8
Total other comprehensive loss			(45.1)
Balances	119.9		119.9
Net unrealized holding gains [Member] | Equity share of UTI’s net unrealized holding gains [Member]
Accumulated other comprehensive income
Balances			0.5
Other comprehensive income (loss) before reclassifications and income taxes			0.1
Reclassification adjustments recognized in non-operating investment income			0
Other comprehensive loss before income taxes			0.1
Deferred tax benefits			0
Total other comprehensive loss			0.1
Balances	0.6		0.6
Currency translation adjustments [Member]
Accumulated other comprehensive income
Balances			(29.1)
Other comprehensive income (loss) before reclassifications and income taxes			(9.7)
Reclassification adjustments recognized in non-operating investment income			5.8
Other comprehensive loss before income taxes			(3.9)
Deferred tax benefits	(0.1)	0.8	1.4	(1.7)
Total other comprehensive loss			(2.5)
Balances	(31.6)		(31.6)
Total accumulated other comprehensive income [Member]
Accumulated other comprehensive income
Balances			136.4
Other comprehensive income (loss) before reclassifications and income taxes			(42.4)
Reclassification adjustments recognized in non-operating investment income			(38.3)
Other comprehensive loss before income taxes			(80.7)
Deferred tax benefits	22.5	$ 23.3	33.2	$ 14.5
Total other comprehensive loss			(47.5)
Balances	$ 88.9		$ 88.9

OTHER COMPREHENSIVE INCOME AN40

OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Reclassification Adjustments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification adjustment out of accumulated other comprehensive income
Provision for income taxes	$ 181.5	$ 190.3	$ 584.2	$ 570.6
Non-operating investment income	(0.3)	(5.2)	(60.1)	(73.4)
Reclassification out of accumulated other comprehensive income [Member] | Net unrealized holding gains or losses [Member]
Reclassification adjustment out of accumulated other comprehensive income
Non-operating investment income			(44.1)
Reclassification out of accumulated other comprehensive income [Member] | Net unrealized holding gains or losses [Member] | Investments in sponsored funds [Member]
Reclassification adjustment out of accumulated other comprehensive income
Non-operating investment income			(44.1)
Reclassification out of accumulated other comprehensive income [Member] | Currency translation adjustments [Member]
Reclassification adjustment out of accumulated other comprehensive income
Provision for income taxes	(1.2)	0	(1.2)	0
Non-operating investment income			5.8
Reclassification out of accumulated other comprehensive income [Member] | Total accumulated other comprehensive income [Member]
Reclassification adjustment out of accumulated other comprehensive income
Non-operating investment income			(38.3)
Reclassification out of accumulated other comprehensive income [Member] | Sale of individual securities [Member] | Net unrealized holding gains or losses [Member]
Reclassification adjustment out of accumulated other comprehensive income
Provision for income taxes	3.5	0.3	18.2	17.3
Reclassification out of accumulated other comprehensive income [Member] | Other than temporary impairments recognized [Member] | Net unrealized holding gains or losses [Member]
Reclassification adjustment out of accumulated other comprehensive income
Provision for income taxes	$ (1.9)	$ 0	$ (1.9)	$ 0