Janus Henderson (JHG) 10-Q4 May 222022 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2022	May 02, 2022
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-38103
Entity Registrant Name	JANUS HENDERSON GROUP PLC
Entity Incorporation, State or Country Code	Y9
Entity Tax Identification Number	98-1376360
Entity Address, Address Line One	201 Bishopsgate
Entity Address, City or Town	London
Entity Address, Country	GB
Entity Address, Postal Zip Code	EC2M3AE
Country Region	+44
City Area Code	(0) 20
Local Phone Number	7818 1818
Title of 12(b) Security	Common Stock, $1.50 Per Share Par Value
Trading Symbol	JHG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		167,787,514
Entity Central Index Key	0001274173
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Fees and other receivables	$ 322.6	$ 351.6
OEIC and unit trust receivables	256.3	84.4
Total current assets	2,205.9	2,409.2
Non-current assets:
Property, equipment and software, net	54.6	63.3
Intangible assets, net	2,488.9	2,542.7
Goodwill	1,316.8	1,374.3
Retirement benefit asset, net	160.5	165.1
Other non-current assets	196.6	172.9
Total assets	6,423.3	6,727.5
Current liabilities:
Current portion of accrued compensation, benefits and staff costs	174.7	420
OEIC and unit trust payables	263.5	92.2
Total current liabilities	694.1	786.4
Non-current liabilities:
Accrued compensation, benefits and staff costs	22	45.7
Long-term debt	309.7	310.4
Deferred tax liabilities, net	617	619.2
Retirement benefit obligations, net	4.6	4.8
Other non-current liabilities	121.3	134.4
Total liabilities	1,768.7	1,900.9
Commitments and contingencies (See Note 15)
REDEEMABLE NONCONTROLLING INTERESTS	150.7	163.4
EQUITY
Common stock, $1.50 par value; 480,000,000 shares authorized, and 167,787,514 and 169,046,154 shares issued and outstanding as of March 31, 2022, and December 31, 2021, respectively	251.7	253.6
Additional paid-in-capital	3,684.9	3,771.8
Treasury shares, 830,071 and 1,133,934 shares held at March 31, 2022, and December 31, 2021, respectively	(40.3)	(55.1)
Accumulated other comprehensive loss, net of tax	(443.2)	(396.1)
Retained earnings	1,048	1,073.6
Total shareholders' equity	4,501.1	4,647.8
Nonredeemable noncontrolling interests	2.8	15.4
Total equity	4,503.9	4,663.2
Total liabilities, redeemable noncontrolling interests and equity	6,423.3	6,727.5
Consolidated excluding VIEs
Current assets:
Cash and cash equivalents	800.8	1,107.3
Investment securities	419.3	451.4
Other current assets	147.3	150.2
Current liabilities:
Accounts payable and accrued liabilities	253.4	271.6
Consolidated VIEs
Current assets:
Cash and cash equivalents	12.6	11.3
Investment securities	244.5	250.9
Other current assets	2.5	2.1
Current liabilities:
Accounts payable and accrued liabilities	$ 2.5	$ 2.6

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
Par value	$ 1.50	$ 1.50
Common stock, shares authorized	480,000,000	480,000,000
Common stock, shares issued	167,787,514	169,046,154
Common stock, shares outstanding	167,787,514	169,046,154
Treasury shares (in shares)	830,071	1,133,934

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Total revenue	$ 620	$ 644
Operating expenses:
Employee compensation and benefits	164.6	174.6
Long-term incentive plans	51.4	53.5
Distribution expenses	141.8	127.4
Investment administration	14.8	12.6
Marketing	7.4	6.2
General, administrative and occupancy	73.1	63
Impairment of goodwill and intangible assets	32.8	3.6
Depreciation and amortization	9.5	10.6
Total operating expenses	495.4	451.5
Operating income	124.6	192.5
Interest expense	(3.2)	(3.2)
Investment gains (losses), net	(32.2)	1.6
Other non-operating expenses, net	(7.8)	(0.1)
Income before taxes	81.4	190.8
Income tax provision	22.8	43.1
Net income	58.6	147.7
Net loss attributable to noncontrolling interests	20.1	7.8
Net income attributable to JHG	$ 78.7	$ 155.5
Earnings per share attributable to JHG common shareholders:
Basic	$ 0.47	$ 0.88
Diluted	$ 0.47	$ 0.88
Other comprehensive income (loss), net of tax:
Foreign currency translation gains (losses)	$ (47)	$ 3.3
Actuarial gains	0.1	0.1
Other comprehensive income (loss), net of tax	(46.9)	3.4
Other comprehensive income attributable to noncontrolling interests	(0.2)	(0.8)
Other comprehensive income (loss) attributable to JHG	(47.1)	2.6
Total comprehensive income	11.7	151.1
Total comprehensive loss attributable to noncontrolling interests	19.9	7
Total comprehensive income attributable to JHG	31.6	158.1
Management fees
Revenue:
Total revenue	514	514.9
Performance fees
Revenue:
Total revenue	(8.4)	17
Shareowner servicing fees
Revenue:
Total revenue	62.4	60.8
Other revenue
Revenue:
Total revenue	$ 52	$ 51.3

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)
Operating activities:
Net income	$ 58.6	$ 147.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9.5	10.6
Impairment of goodwill and intangible assets	32.8	3.6
Deferred income taxes	0.2	0.4
Stock-based compensation plan expense	22.6	17.6
Loss on sale of Intech	9.1
Investment gains, (losses), net	32.2	(1.6)
Contributions to pension plans in excess of costs recognized	(0.1)
Other, net	11.3	(2.4)
Changes in operating assets and liabilities:
OEIC and unit trust receivables and payables	(0.6)	(0.3)
Other assets	(1.1)	4.1
Other accruals and liabilities	(232)	(153.9)
Net operating activities	(57.5)	25.8
Sales (purchases) of:
Investment securities, net	(34.2)	51.4
Property, equipment and software	(2.9)	(1.6)
Investment securities by consolidated seeded investment products, net	13	(28.1)
Cash received (paid) on settled seed capital hedges, net	11.7	(1.8)
Dividends received from equity-method investments	0.5	1.1
JHG long-term note with Intech	10
Proceeds from sale of Intech	5
Receipt of contingent consideration payments from sale of subsidiaries		2.4
Net investing activities	(16.9)	23.4
Financing activities:
Proceeds from stock-based compensation plans	0.5	0.8
Purchase of common stock for stock-based compensation plans	(94.5)	(61.5)
Purchase of common stock from Dai-ichi Life and share buyback program	(43.3)	(230.2)
Dividends paid to shareholders	(64.3)	(61.7)
Distributions to noncontrolling interests	(1.3)	(0.1)
Third-party sales in consolidated seeded investment products, net	(11.7)	30.2
Principal payments under capital lease obligations	(0.2)
Net financing activities	(214.8)	(322.5)
Cash and cash equivalents:
Effect of foreign exchange rate changes	(16)	1.8
Net change	(305.2)	(271.5)
At beginning of period	1,118.6	1,108.1
At end of period	813.4	836.6
Supplemental cash flow information:
Cash paid for interest	7.3	7.3
Cash paid for income taxes, net of refunds	18.4	9.1
Reconciliation of cash and cash equivalents:
Cash and cash equivalents	813.4	836.6
Consolidated VIEs
Cash and cash equivalents:
At end of period	12.6	10.5
Reconciliation of cash and cash equivalents:
Cash and cash equivalents	12.6	10.5
Consolidated excluding VIEs
Cash and cash equivalents:
At end of period	800.8	826.1
Reconciliation of cash and cash equivalents:
Cash and cash equivalents	$ 800.8	$ 826.1

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Millions	Common stock	Additional paid-in-capital	Treasury shares	Accumulated other comprehensive loss	Retained earnings	Noncontrolling interests	Total
Balance at Dec. 31, 2020	$ 270.6	$ 3,815	$ (107.3)	$ (324)	$ 1,062.1	$ 17.4	$ 4,733.8
Balance (in shares) at Dec. 31, 2020	180,400,000
Increase (Decrease) in Stockholders' Equity
Net income					155.5	(1.5)	154
Other comprehensive income (loss)				2.6			2.6
Dividends paid to shareholders					(61.7)		(61.7)
Purchase of common stock from Dai-ichi Life and/or share buyback program	$ (12.1)				(218.1)		(230.2)
Purchase of common stock from Dai-ichi Life and/or share buyback program (in shares)	(8,100,000)
Distributions to noncontrolling interests						(0.1)	(0.1)
Fair value adjustments to redeemable noncontrolling interests					(0.1)		(0.1)
Purchase of common stock for stock-based compensation plans		(61.2)	(0.3)				(61.5)
Vesting of stock-based compensation plans		(3.2)	3.2
Stock-based compensation plan expense		17.6					17.6
Proceeds from stock-based compensation plans		0.8					0.8
Balance at Mar. 31, 2021	$ 258.5	3,769	(104.4)	(321.4)	937.7	15.8	4,555.2
Balance (in shares) at Mar. 31, 2021	172,300,000
Balance at Dec. 31, 2021	$ 253.6	3,771.8	(55.1)	(396.1)	1,073.6	15.4	$ 4,663.2
Balance (in shares) at Dec. 31, 2021	169,000,000						169,046,154
Increase (Decrease) in Stockholders' Equity
Net income					78.7		$ 78.7
Other comprehensive income (loss)				(47.1)			(47.1)
Dividends paid to shareholders					(64.3)		(64.3)
Purchase of common stock from Dai-ichi Life and/or share buyback program	$ (1.9)				(41.4)		(43.3)
Purchase of common stock from Dai-ichi Life and/or share buyback program (in shares)	(1,200,000)
Distributions to noncontrolling interests						(1)	(1)
Sale of Intech						(11.6)	(11.6)
Fair value adjustments to redeemable noncontrolling interests					1.4		1.4
Purchase of common stock for stock-based compensation plans		(94.1)	(0.4)				(94.5)
Vesting of stock-based compensation plans		(15.2)	15.2
Stock-based compensation plan expense		21.9					21.9
Proceeds from stock-based compensation plans		0.5					0.5
Balance at Mar. 31, 2022	$ 251.7	$ 3,684.9	$ (40.3)	$ (443.2)	$ 1,048	$ 2.8	$ 4,503.9
Balance (in shares) at Mar. 31, 2022	167,800,000						167,787,514

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Dividends paid (per share)	$ 0.38	$ 0.36

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
Basis of Presentation and Significant Accounting Policies	Mar. 31, 2022
Basis of Presentation and Significant Accounting Policies
Basis of Presentation and Significant Accounting Policies	Note 1 — Basis of Presentation and Significant Accounting Policies Basis of Presentation In the opinion of management of Janus Henderson Group plc (“JHG,” “the Company,” “we,” “us,” “our” and similar terms), the accompanying unaudited condensed consolidated financial statements contain all normal recurring adjustments necessary to fairly state our financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP are not required for interim reporting purposes and have been condensed or omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the annual consolidated financial statements and notes presented in our Annual Report on Form 10-K for the year ended December 31, 2021. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying financial statements through the issuance date.

Dispositions

Dispositions	3 Months Ended
Dispositions	Mar. 31, 2022
Dispositions
Dispositions	Note 2 — Dispositions On February 3, 2022, we announced the strategic decision to sell our 97%-owned Quantitative Equities subsidiary, Intech Investment Management LLC (“Intech”), to a consortium composed of Intech management and certain Intech non-executive directors (“Management Buyout”). The Management Buyout is expected to enable both organizations to refocus on their key value propositions: Janus Henderson on providing active, fundamental investing, and Intech on delivering quantitative investment solutions for institutional investors. On March 31, 2022, the Management Buyout closed and we recognized a $9.1 million loss on disposal of Intech. The loss is recognized in other non-operating expenses, net on our Condensed Consolidated Statements of Comprehensive Income. Consideration received as part of the Management Buyout included cash proceeds of $14.9 million ($9.9 million will be collected in the third quarter 2022), contingent consideration of up to $17.5 million which is based on future Intech revenue and an option agreement with a fair value of $3.9 million that provides JHG the option to purchase a certain equity stake in Intech at a predetermined price on or before the seventh anniversary of the Management Buyout. The terms of the transaction also included a $20.0 million 7-year JHG and Intech entered into a transition services agreement that provides for continuation of support services to help ensure a seamless transition in operations and continuity in serving Intech’s clients.

Consolidation

Consolidation	3 Months Ended
Consolidation	Mar. 31, 2022
Consolidation
Consolidation	Note 3 — Consolidation Variable Interest Entities Consolidated Variable Interest Entities Our consolidated variable interest entities (“VIEs”) as of March 31, 2022, and December 31, 2021, include certain consolidated seeded investment products in which we have an investment and act as the investment manager. Third-party assets held in consolidated VIEs are not available to us or to our creditors. We may not, under any circumstances, access third-party assets held by consolidated VIEs to use in our operating activities or otherwise. In addition, the investors in these consolidated VIEs have no recourse to the credit of JHG. Unconsolidated Variable Interest Entities The following table presents the carrying value of investment securities included on our Condensed Consolidated Balance Sheets pertaining to unconsolidated VIEs (in millions): March 31, December 31, 2022 2021 Unconsolidated VIEs $ 94.0 $ 102.7 Our total exposure to unconsolidated VIEs represents the value of our economic ownership interest in the investment securities. Voting Rights Entities Consolidated Voting Rights Entities The following table presents the balances related to consolidated voting rights entities (“VREs”) that were recorded on our Condensed Consolidated Balance Sheets, including our net interest in these products (in millions): March 31, December 31, 2022 2021 Investment securities $ 211.6 $ 179.6 Cash and cash equivalents 18.8 1.3 Other current assets 2.0 0.7 Accounts payable and accrued liabilities (2.6) (1.2) Total $ 229.8 $ 180.4 Redeemable noncontrolling interests in consolidated VREs (32.3) (17.5) JHG's net interest in consolidated VREs $ 197.5 $ 162.9 Third-party assets held in consolidated VREs are not available to us or to our creditors. We may not, under any circumstances, access third-party assets held by consolidated VREs to use in our operating activities or otherwise. In addition, the investors in these consolidated VREs have no recourse to the credit of JHG. Our total exposure to consolidated VREs represents the value of our economic ownership interest in these seeded investment products. Unconsolidated Voting Rights Entities The following table presents the carrying value of investment securities included on our Condensed Consolidated Balance Sheets pertaining to unconsolidated VREs (in millions): March 31, December 31, 2022 2021 Unconsolidated VREs $ 25.7 $ 56.6 Our total exposure to unconsolidated VREs represents the value of our economic ownership interest in the investment securities.

Investment Securities

Investment Securities	3 Months Ended
Investment Securities	Mar. 31, 2022
Investment Securities.
Investment Securities	Note 4 — Investment Securities Our investment securities as of March 31, 2022, and December 31, 2021, are summarized as follows (in millions): March 31, December 31, 2022 2021 Seeded investment products: Consolidated VIEs $ 244.5 $ 250.9 Consolidated VREs 211.6 179.6 Unconsolidated VIEs and VREs 119.7 159.3 Separate accounts 54.3 56.7 Pooled investment funds 0.1 0.1 Total seeded investment products 630.2 646.6 Investments related to deferred compensation plans 26.3 50.3 Other investments 7.3 5.4 Total investment securities $ 663.8 $ 702.3 Trading Securities Net unrealized gains (losses) on investment securities held as of the three months ended March 31, 2022 and 2021, are summarized as follows (in millions): Three months ended March 31, 2022 2021 Unrealized gains (losses) on investment securities held at period end $ (32.2) $ 1.6 Investment Gains (Losses), Net Investment gains (losses), net on our Condensed Consolidated Statements of Comprehensive Income included the following for the three months ended March 31, 2022 and 2021 (in millions): Three months ended March 31, 2022 2021 Seeded investment products and hedges, net $ (11.5) $ 5.6 Third-party ownership interests in seeded investment products (20.1) (8.0) Long Tail Alpha investment 1.5 2.1 Deferred equity plan (1.5) 1.9 Other (0.6) — Investment gains (losses), net $ (32.2) $ 1.6 Cash Flows Cash flows related to investment securities for the three months ended March 31, 2022 and 2021, are summarized as follows (in millions): Three months ended March 31, 2022 2021 Sales, Sales, Purchases settlements Purchases settlements and and and and settlements maturities settlements maturities Investment securities by consolidated seeded investment products $ (3.9) $ 16.9 $ (30.2) $ 2.1 Investment securities (40.5) 6.3 (0.5) 51.9

Derivative Instruments

Derivative Instruments	3 Months Ended
Derivative Instruments	Mar. 31, 2022
Derivative Instruments.
Derivative Instruments	Note 5 — Derivative Instruments Derivative Instruments Used to Hedge Seeded Investment Products We maintain an economic hedge program that uses derivative instruments to mitigate against market volatility of certain seeded investments by using index and commodity futures (“futures”), index swaps, total return swaps and credit default swaps. Foreign currency exposures associated with our seeded investment products are also hedged by using foreign currency forward contracts and swaps. We were party to the following derivative instruments as of March 31, 2022, and December 31, 2021 (in millions): Notional value March 31, 2022 December 31, 2021 Futures $ 352.9 $ 368.7 Credit default swaps 148.4 207.2 Total return swaps 52.7 55.0 Foreign currency forward contracts and swaps 456.2 415.6 The derivative instruments are not designated as hedges for accounting purposes. Changes in fair value of the derivatives are recognized in investment gains (losses), net in our Condensed Consolidated Statements of Comprehensive Income. The change in fair value of the derivative instruments for the three months ended March 31, 2022 and 2021, are summarized as follows (in millions): Three months ended March 31, 2022 2021 Futures $ 15.4 $ (1.5) Credit default swaps 2.3 — Total return swaps 7.4 (2.9) Foreign currency forward contracts and swaps (7.0) 6.1 Total gain from derivative instruments $ 18.1 $ 1.7 Derivative assets and liabilities are generally recognized on a gross basis and included in other current assets or in accounts payable and accrued liabilities on our Condensed Consolidated Balance Sheets. The derivative assets and liabilities as of March 31, 2022, and December 31, 2021, are summarized as follows (in millions): Fair value March 31, 2022 December 31, 2021 Derivative assets $ 3.4 $ 8.8 Derivative liabilities 16.2 15.5 In addition to using derivative instruments to mitigate against market volatility of certain seeded investments, we also engage in short sales of securities to hedge seed investments. As of March 31, 2022, and December 31, 2021, the fair value of securities sold but not yet purchased was $2.6 million and $3.1 million, respectively. The cash received from the short sale and the obligation to repurchase the shares are classified in other current assets and accounts payable and accrued liabilities on our Condensed Consolidated Balance Sheets, respectively. Fair value adjustments are recognized in investment gains (losses), net on our Condensed Consolidated Statements of Comprehensive Income. Derivative Instruments in Consolidated Seeded Investment Products Certain of our consolidated seeded investment products utilize derivative instruments to contribute to the achievement of defined investment objectives. These derivative instruments are classified within other current assets or in accounts payable and accrued liabilities on our Condensed Consolidated Balance Sheets. Gains and losses on these derivative instruments are classified within investment gains (losses), net in our Condensed Consolidated Statements of Comprehensive Income. Our consolidated seeded investment products were party to the following derivative instruments as of March 31, 2022, and December 31, 2021 (in millions): Notional value March 31, 2022 December 31, 2021 Futures $ 118.8 $ 190.1 Credit default swaps 2.8 6.1 Total return swaps 13.1 — Options 0.4 0.1 Foreign currency forward contracts and swaps 81.0 22.1 The derivative assets and liabilities as of March 31, 2022, and December 31, 2021, are summarized as follows (in millions): Fair value March 31, 2022 December 31, 2021 Derivative assets $ 0.3 $ 3.2 Derivative liabilities 0.8 — Derivative Instruments — Used in Foreign Currency Hedging Program We maintain a balance sheet foreign currency hedging program (the “Program”) to take reasonable measures to minimize the income statement effects of foreign currency remeasurement of monetary balance sheet accounts. The Program utilizes foreign currency forward contracts and swaps to achieve its objectives, and it is considered an economic hedge for accounting purposes. The notional value of the foreign currency forward contracts and swaps as of March 31, 2022, and December 31, 2021, is summarized as follows (in millions): Notional value March 31, 2022 December 31, 2021 Foreign currency forward contracts and swaps $ 59.2 $ 171.4 The derivative assets and liabilities are generally recognized on a gross basis and included in other current assets or in accounts payable and accrued liabilities on our Condensed Consolidated Balance Sheets. The derivative assets and liabilities as of March 31, 2022, and December 31, 2021, are summarized as follows (in millions): Fair value March 31, 2022 December 31, 2021 Derivative assets $ 0.3 $ 3.2 Derivative liabilities 0.8 — Changes in fair value of the derivatives are recognized in other non-operating expenses, net on our Condensed Consolidated Statements of Comprehensive Income. We recognized a loss of $2.1 million during the three months ended March 31, 2022, and a gain of $0.6 million during the three months ended March 31, 2021. Foreign currency remeasurement is also recognized in other non-operating expenses, net on our Condensed Consolidated Statements of Comprehensive Income.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2022
Fair Value Measurements
Fair Value Measurements	Note 6 — Fair Value Measurements The following table presents assets and liabilities reflected in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of March 31, 2022 (in millions): Fair value measurements using: Quoted prices in active markets for identical assets Significant other Significant and liabilities observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ 368.8 $ — $ — $ 368.8 Investment securities: Consolidated VIEs 208.3 30.3 5.9 244.5 Other investment securities 354.5 64.8 — 419.3 Total investment securities 562.8 95.1 5.9 663.8 Seed hedge derivatives — 3.4 — 3.4 Derivatives in consolidated seeded investment products — 0.5 — 0.5 Derivatives used in foreign currency hedging program — 0.3 — 0.3 Intech option agreement — — 3.9 3.9 Intech contingent consideration — — 12.6 12.6 Volantis contingent consideration — — 0.8 0.8 Total assets $ 931.6 $ 99.3 $ 23.2 $ 1,054.1 Liabilities: Derivatives in consolidated seeded investment products $ — $ 0.6 $ — $ 0.6 Derivatives used in foreign currency hedging program — 0.8 — 0.8 Securities sold, not yet purchased 2.6 — — 2.6 Seed hedge derivatives — 16.2 — 16.2 Long-term debt (1) — 313.4 — 313.4 Deferred bonuses — — 34.3 34.3 Total liabilities $ 2.6 $ 331.0 $ 34.3 $ 367.9 (1) Carried at amortized cost and disclosed at fair value. The following table presents assets and liabilities reflected in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of December 31, 2021 (in millions): Fair value measurements using: Quoted prices in active markets for identical assets Significant other Significant and liabilities observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ 585.4 $ — $ — $ 585.4 Investment securities: Consolidated VIEs 216.8 26.2 7.9 250.9 Other investment securities 424.1 27.3 — 451.4 Total investment securities 640.9 53.5 7.9 702.3 Seed hedge derivatives — 8.8 — 8.8 Derivatives in consolidated seeded investment products — 0.6 — 0.6 Derivatives used in foreign currency hedging program — 3.2 — 3.2 Volantis contingent consideration — — 0.9 0.9 Total assets $ 1,226.3 $ 66.1 $ 8.8 $ 1,301.2 Liabilities: Derivatives in consolidated seeded investment products $ — $ 0.4 $ — $ 0.4 Securities sold, not yet purchased 3.1 — — 3.1 Seed hedge derivatives — 15.5 — 15.5 Long-term debt (1) — 328.7 — 328.7 Deferred bonuses — — 50.5 50.5 Total liabilities $ 3.1 $ 344.6 $ 50.5 $ 398.2 (1) Carried at amortized cost and disclosed at fair value. Level 1 Fair Value Measurements Our Level 1 fair value measurements consist mostly of investments held by seeded investment products, investments in advised mutual funds, cash equivalents, securities sold, not yet purchased and investments related to deferred compensation plans with quoted market prices in active markets. The fair value level of consolidated investments held by seeded investment products is determined by the underlying securities of the product. The fair value level of unconsolidated investments held in seeded investment products is determined by the net asset value (“NAV”), which is considered a quoted price in an active market. Level 2 Fair Value Measurements Our Level 2 fair value measurements consist mostly of consolidated seeded investment products, derivative instruments and our long-term debt. The fair value of consolidated seeded investment products is determined by the underlying securities of the product. The fair value of our long-term debt is determined using broker quotes and recent trading activity, which are considered Level 2 inputs. Level 3 Fair Value Measurements Investment Securities As of March 31, 2022, and December 31, 2021, certain securities within consolidated VIEs were valued using significant unobservable inputs, resulting in Level 3 classification. Intech Option Agreement and Contingent Consideration On March 31, 2022, we completed the sale of Intech. Consideration received as part of the Management Buyout included contingent consideration of up to $17.5 million and an option agreement that provides JHG the option to purchase a certain equity stake in Intech at a predetermined price on or before the seventh anniversary of the Management Buyout. As of March 31, 2022, the fair value of the option agreement and of the Intech contingent consideration was $3.9 million and $12.6 million, respectively. Significant unobservable inputs were used to value the call option and contingent consideration including revenue estimates, discount rate and volatility. Volantis Contingent Consideration On April 1, 2017, we completed the sale of the Volantis UK Small Cap (“Volantis”) alternative team assets. Consideration for the sale was a 10% share of the management and performance fees generated by Volantis (excluding one particular fund) for a period of three years following the sale. In addition, consideration for the sale included 50% of the first £12 million of performance fees generated by the excluded fund referenced above. As of March 31, 2022, the fund has not reached the £12 million performance fee threshold. As a result, this fee sharing arrangement will remain in effect until the performance threshold is reached. As of March 31, 2022, and December 31, 2021, the fair value of the Volantis contingent consideration was $0.8 million and $0.9 million, respectively. Deferred Bonuses Deferred bonuses represent liabilities to employees over the vesting period that will be settled by investments in our products. The significant unobservable inputs used to value the liabilities are investment designations and vesting periods. Changes in Fair Value Changes in fair value of our Level 3 assets for the three months ended March 31, 2022 and 2021, were as follows (in millions): Three months ended March 31, 2022 2021 Beginning of period fair value $ 8.8 $ 31.4 Intech option agreement 3.9 — Contingent consideration from sale of Intech 12.6 — Settlement of contingent consideration — (2.2) Fair value adjustments (1.5) (3.9) Purchases of securities (0.2) 2.3 Sales of securities (0.3) (0.4) Foreign currency translation (0.1) — End of period fair value $ 23.2 $ 27.2 Changes in fair value of our individual Level 3 liabilities for the three months ended March 31, 2022 and 2021, were as follows (in millions): Three months ended March 31, 2022 2021 Deferred Deferred bonuses bonuses Beginning of period fair value $ 50.5 $ 65.2 Fair value adjustments (1.6) 2.3 Vesting of deferred bonuses (21.6) (2.5) Amortization of deferred bonuses 8.4 8.0 Foreign currency translation (1.4) 0.6 End of period fair value $ 34.3 $ 73.6 Nonrecurring Fair Value Measurements Nonrecurring Level 3 fair value measurements include goodwill and intangible assets. We measure the fair value of goodwill and intangible assets on initial recognition using discounted cash flow (“DCF”) analysis that requires assumptions regarding projected future earnings and discount rates. Because of the significance of the unobservable inputs in the fair value measurements of these assets, such measurements are classified as Level 3.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Mar. 31, 2022
Goodwill and Intangible Assets.
Goodwill and Intangible Assets	Note 7 — Goodwill and Intangible Assets The following tables present movements in our intangible assets and goodwill during the three months ended March 31, 2022 and 2021 (in millions): December 31, Foreign currency March 31, 2021 Amortization Disposal Impairment translation 2022 Indefinite-lived intangible assets: Investment management agreements $ 2,114.8 $ — $ — $ — $ (7.8) $ 2,107.0 Trademarks 366.7 — (4.7) — — 362.0 Definite-lived intangible assets: Client relationships 168.4 — (84.8) — 0.1 83.7 Accumulated amortization (107.2) (1.9) 44.7 — 0.6 (63.8) Net intangible assets $ 2,542.7 $ (1.9) $ (44.8) $ — $ (7.1) $ 2,488.9 Goodwill $ 1,374.3 $ — $ (7.0) $ (32.8) $ (17.7) $ 1,316.8 December 31, Foreign currency March 31, 2020 Amortization Disposal Impairment translation 2021 Indefinite-lived intangible assets: Investment management agreements $ 2,242.9 $ — $ — $ — $ 1.4 $ 2,244.3 Trademarks 373.2 — — (3.6) — 369.6 Definite-lived intangible assets: Client relationships 170.9 — — — (0.1) 170.8 Accumulated amortization (100.7) (1.9) — — (0.2) (102.8) Net intangible assets $ 2,686.3 $ (1.9) $ — $ (3.6) $ 1.1 $ 2,681.9 Goodwill $ 1,383.9 $ — $ — $ — $ 5.9 $ 1,389.8 Management Buyout of Intech As detailed in Note 2 – Dispositions, on March 31, 2022, the Management Buyout of Intech closed. As part of this disposition, we removed $4.7 million and $40.1 million of trademarks and client relationships, respectively, from our Condensed Consolidated Balance Sheets as these intangible assets were directly connected to Intech. In addition, we also allocated a certain amount of goodwill to Intech, which was also removed from our Condensed Consolidated Balance Sheets as part of the Management Buyout. Out-of-Period Incremental Goodwill Impairment In the first quarter 2020, due to the sudden decline of the global financial markets impacting our assets under management (“AUM”), we recognized a $123.5 million goodwill impairment expense. Subsequent to the first quarter 2020, we identified a $32.8 million error in which we did not consider the incremental impairment charge related to the tax-deductible goodwill. We have corrected this error in the first quarter 2022 as an out-of-period adjustment which is reflected in the table above and recorded in goodwill and intangible asset impairment charges on our Condensed Consolidated Statements of Comprehensive Income. Perkins Trademark During the first quarter of 2021, as part of our ongoing strategic initiatives and looking globally at delivering excellent service to our clients and positioning our business for success, we completed a review of Perkins Investment Management (“Perkins”). To right-size our product portfolio and better align with the changing needs of clients, certain strategies were closed and the funds were liquidated during the second quarter of 2021. The majority of the Perkins value equity strategies were unaffected by this reorganization and they have continued under the Janus Henderson brand. The Perkins brand was discontinued and the marketing efforts for value equity strategies were incorporated under the Janus Henderson brand. During the first quarter 2021, we impaired the entire balance of the intangible asset associated with the Perkins trademark. The impairment charge of $3.6 million is included in the table above and recorded in goodwill and intangible asset impairment charges on our Condensed Consolidated Statements of Comprehensive Income. Future Amortization Expected future amortization expense related to client relationships is summarized below (in millions): Future amortization Amount 2022 (remainder of year) $ 2.1 2023 2.5 2024 1.1 2025 1.1 2026 1.1 Thereafter 12.0 Total $ 19.9

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2022
Debt
Debt	Note 8 — Debt Our debt as of March 31, 2022, and December 31, 2021, consisted of the following (in millions): March 31, 2022 December 31, 2021 Carrying Fair Carrying Fair value value value value 4.875% Senior Notes due 2025 $ 309.7 $ 313.4 $ 310.4 $ 328.7 4.875% Senior Notes Due 2025 The 4.875% Senior Notes due 2025 (“2025 Senior Notes”) have a principal value of $300.0 million, pay interest at 4.875% semiannually on February 1 and August 1 of each year, and mature on August 1, 2025. The 2025 Senior Notes include unamortized debt premium, net at March 31, 2022, of $9.7 million, which will be amortized over the remaining life of the notes. The unamortized debt premium is recorded as a liability within long-term debt on our Condensed Consolidated Balance Sheets. JHG fully and unconditionally guarantees the obligations of Janus Henderson US (Holdings) Inc. in relation to the 2025 Senior Notes. Credit Facility At March 31, 2022, we had a $200 million, unsecured, revolving credit facility (“Credit Facility”). JHG and its subsidiaries may use the Credit Facility for general corporate purposes. The rate of interest for each interest period is the aggregate of the applicable margin, which is based on our long-term credit rating and the Secured Overnight Financing Rate (“SOFR”) in relation to any loan in U.S. dollars (“USD”); the Sterling Overnight Index Average (“SONIA”) in relation to any loan in British pounds (“GBP”); the Euro Interbank Offered Rate (“EURIBOR”) in relation to any loan in euros (“EUR”); or the Bank Bill Swap Rate (“BBSW”) in relation to any loan in Australian dollars (“AUD”). As a result of the phase out of the London Interbank Offered Rate (“LIBOR”), our Credit Facility was amended to incorporate the SOFR as the successor rate to USD LIBOR and the SONIA as the successor rate to GBP LIBOR. We are required to pay a quarterly commitment fee on any unused portion of the Credit Facility, which is also based on our long-term credit rating. Under the Credit Facility, our financing leverage ratio cannot exceed 3.00x EBITDA. At March 31, 2022, we were in compliance with all covenants contained in, and there were no outstanding borrowings under, the Credit Facility. The maturity date of the Credit Facility is February 16, 2024.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2022
Income Taxes
Income Taxes	Note 9 — Income Taxes Our effective tax rates for the three months ended March 31, 2022 and 2021, were as follows: Three months ended March 31, 2022 2021 Effective tax rate 28.0 % 22.6 % The effective tax rate for the three months ended March 31, 2022, compared to the three months ended March 31, 2021, was impacted by a decrease in pre-tax book income with an increase in the disallowed non-controlling interest loss. In addition, the effective tax rate was also impacted by excess tax benefit on equity-based vesting compensation. As of March 31, 2022, we had $18.5 million of unrecognized tax benefits held for uncertain tax positions. We estimate that the existing liability for uncertain tax positions could decrease by up to $1.6 million within the next 12 months, without giving effect to changes in foreign currency translation.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
Noncontrolling Interests	Mar. 31, 2022
Noncontrolling Interests
Noncontrolling Interests	Note 10 — Noncontrolling Interests Redeemable Noncontrolling Interests Redeemable noncontrolling interests as of March 31, 2022, and December 31, 2021, consisted of the following (in millions): March 31, December 31, 2022 2021 Consolidated seeded investment products $ 150.7 $ 148.5 Intech: Employee appreciation rights — 12.6 Founding member ownership interests — 2.3 Total redeemable noncontrolling interests $ 150.7 $ 163.4 Consolidated Seeded Investment Products Noncontrolling interests in consolidated seeded investment products are classified as redeemable noncontrolling interests when there is an obligation to repurchase units at the investor’s request. Redeemable noncontrolling interests in consolidated seeded investment products may fluctuate from period to period and are impacted by changes in our relative ownership, changes in the amount of third-party investment in seeded products and volatility in the market value of the seeded products’ underlying securities. Third-party redemption of investments in any particular seeded product is redeemed from the respective product’s net assets and cannot be redeemed from the assets of our other seeded products or from our other assets. The following table presents the movement in redeemable noncontrolling interests in consolidated seeded investment products for the three months ended March 31, 2022 and 2021 (in millions): Three months ended March 31, 2022 2021 Opening balance $ 148.5 $ 70.6 Changes in market value (20.1) (6.3) Changes in ownership 22.2 18.6 Foreign currency translation 0.1 0.8 Closing balance $ 150.7 $ 83.7 Nonredeemable Noncontrolling Interests Nonredeemable noncontrolling interests as of March 31, 2022, and December 31, 2021, were as follows (in millions): March 31, December 31, 2022 2021 Nonredeemable noncontrolling interests in: Seed capital investments $ 2.8 $ 2.8 Intech — 12.6 Total nonredeemable noncontrolling interests $ 2.8 $ 15.4 On March 31, 2022, we completed the sale of our 97% -owned subsidiary, Intech. See Note 2 – Dispositions for further information regarding the sale.

Long-Term Incentive Compensatio

Long-Term Incentive Compensation	3 Months Ended
Long-Term Incentive Compensation	Mar. 31, 2022
Long-Term Incentive Compensation
Long-Term Incentive Compensation	Note 11 — Long-Term Incentive and Employee Compensation The following table presents restricted stock and mutual fund awards granted during the three months ended March 31, 2022 (in millions): Three months ended March 31, 2022 Restricted stock $ 100.0 Mutual fund awards 98.3 Total $ 198.3 Restricted stock and mutual fund awards generally vest and will be recognized using a graded vesting method over a three

Retirement Benefit Plans

Retirement Benefit Plans	3 Months Ended
Retirement Benefit Plans	Mar. 31, 2022
Retirement Benefit Plans
Retirement Benefit Plans	Note 12 — Retirement Benefit Plans We operate defined contribution retirement benefit plans and defined benefit pension plans. Our primary defined benefit pension plan is the defined benefit section of the Janus Henderson Group UK Pension Scheme (“JHGPS”). Net Periodic Benefit Credit The components of net periodic benefit credit in respect of defined benefit plans for the three months ended March 31, 2022 and 2021, include the following (in millions): Three months ended March 31, 2022 2021 Service cost $ — $ (0.2) Interest cost (4.5) (2.8) Amortization of prior service cost (0.1) (0.1) Expected return on plan assets 4.5 3.3 Net periodic benefit credit $ (0.1) $ 0.2

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
Accumulated Other Comprehensive Loss	Mar. 31, 2022
Accumulated Other Comprehensive Loss.
Accumulated Other Comprehensive Loss	Note 13 — Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss, net of tax for the three months ended March 31, 2022 and 2021, were as follows (in millions): Three months ended March 31, 2022 2021 Foreign Retirement benefit Foreign Retirement benefit currency asset, net Total currency asset, net Total Beginning balance $ (363.3) $ (32.8) $ (396.1) $ (313.6) $ (10.4) $ (324.0) Other comprehensive loss (47.8) — (47.8) 7.5 — 7.5 Amounts reclassified from accumulated other comprehensive loss 0.8 0.1 0.9 (4.2) 0.1 (4.1) Total other comprehensive loss (47.0) 0.1 (46.9) 3.3 0.1 3.4 Less: other comprehensive loss attributable to noncontrolling interests (0.2) — (0.2) (0.8) — (0.8) Ending balance $ (410.5) $ (32.7) $ (443.2) $ (311.1) $ (10.3) $ (321.4) The components of other comprehensive income (loss), net of tax for the three months ended March 31, 2022 and 2021, were as follows (in millions): Three months ended March 31, 2022 2021 Pre-tax Tax Net Pre-tax Tax Net amount impact amount amount impact amount Foreign currency translation adjustments $ (49.0) $ 1.2 $ (47.8) $ 7.1 $ 0.4 $ 7.5 Reclassifications to net income 0.9 — 0.9 (4.1) — (4.1) Total other comprehensive income (loss) $ (48.1) $ 1.2 $ (46.9) $ 3.0 $ 0.4 $ 3.4

Earnings and Dividends Per Shar

Earnings and Dividends Per Share	3 Months Ended
Earnings and Dividends Per Share	Mar. 31, 2022
Earnings and Dividends Per Share
Earnings (Loss) and Dividends Per Share	Note 14 — Earnings and Dividends Per Share Earnings Per Share The following is a summary of the earnings per share calculation for the three months ended March 31, 2022 and 2021 (in millions, except per share data): Three months ended March 31, 2022 2021 Net income attributable to JHG $ 78.7 $ 155.5 Allocation of earnings to participating stock-based awards (2.0) (4.8) Net income attributable to JHG common shareholders $ 76.7 $ 150.7 Weighted-average common shares outstanding — basic 164.0 171.0 Dilutive effect of nonparticipating stock-based awards 0.5 0.8 Weighted-average common shares outstanding — diluted 164.5 171.8 Earnings (loss) per share: Basic (two class) $ 0.47 $ 0.88 Diluted (two class) $ 0.47 $ 0.88 Dividends Per Share The payment of cash dividends is within the discretion of our Board of Directors and depends on many factors, including, but not limited to, our results of operations, financial condition, capital requirements, legal requirements and general business conditions. The following is a summary of cash dividends declared and paid during the three months ended March 31, 2022: Dividend Date Dividends paid Date per share declared (in US$ millions) paid $ 0.38 February 2, 2022 $ 64.3 February 28, 2022 On May 3, 2022, the Board approved a 2.6% increase in the quarterly cash dividends and declared a $0.39 per share dividend for the first quarter 2022. The quarterly dividend will be paid on May 31, 2022, to shareholders of record at the close of business on May 16, 2022.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2022
Commitments and Contingencies
Commitments and Contingencies	Note 15 — Commitments and Contingencies We are periodically involved in various legal proceedings and other regulatory matters. Although there can be no assurances, based on information currently available, we believe that it is probable that the ultimate outcome of matters that are pending or threatened will not have a material effect on our consolidated financial statements.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Basis of Presentation and Significant Accounting Policies
Basis of Presentation	Basis of Presentation In the opinion of management of Janus Henderson Group plc (“JHG,” “the Company,” “we,” “us,” “our” and similar terms), the accompanying unaudited condensed consolidated financial statements contain all normal recurring adjustments necessary to fairly state our financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Such financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP are not required for interim reporting purposes and have been condensed or omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the annual consolidated financial statements and notes presented in our Annual Report on Form 10-K for the year ended December 31, 2021. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying financial statements through the issuance date.

Consolidation (Tables)

Consolidation (Tables)	3 Months Ended
Consolidation (Tables)	Mar. 31, 2022
Consolidation
Schedule of unconsolidated variable interest entities (VIEs)	The following table presents the carrying value of investment securities included on our Condensed Consolidated Balance Sheets pertaining to unconsolidated VIEs (in millions): March 31, December 31, 2022 2021 Unconsolidated VIEs $ 94.0 $ 102.7
Schedule of consolidated voting right entities (VREs)	The following table presents the balances related to consolidated voting rights entities (“VREs”) that were recorded on our Condensed Consolidated Balance Sheets, including our net interest in these products (in millions): March 31, December 31, 2022 2021 Investment securities $ 211.6 $ 179.6 Cash and cash equivalents 18.8 1.3 Other current assets 2.0 0.7 Accounts payable and accrued liabilities (2.6) (1.2) Total $ 229.8 $ 180.4 Redeemable noncontrolling interests in consolidated VREs (32.3) (17.5) JHG's net interest in consolidated VREs $ 197.5 $ 162.9
Schedule of unconsolidated voting right entities (VREs)	The following table presents the carrying value of investment securities included on our Condensed Consolidated Balance Sheets pertaining to unconsolidated VREs (in millions): March 31, December 31, 2022 2021 Unconsolidated VREs $ 25.7 $ 56.6

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
Investment Securities (Tables)	Mar. 31, 2022
Investment Securities.
Summary of investment securities	Our investment securities as of March 31, 2022, and December 31, 2021, are summarized as follows (in millions): March 31, December 31, 2022 2021 Seeded investment products: Consolidated VIEs $ 244.5 $ 250.9 Consolidated VREs 211.6 179.6 Unconsolidated VIEs and VREs 119.7 159.3 Separate accounts 54.3 56.7 Pooled investment funds 0.1 0.1 Total seeded investment products 630.2 646.6 Investments related to deferred compensation plans 26.3 50.3 Other investments 7.3 5.4 Total investment securities $ 663.8 $ 702.3
Schedule of net unrealized gains (losses) on trading securities	Net unrealized gains (losses) on investment securities held as of the three months ended March 31, 2022 and 2021, are summarized as follows (in millions): Three months ended March 31, 2022 2021 Unrealized gains (losses) on investment securities held at period end $ (32.2) $ 1.6
Schedule of investment gains (losses), net in Consolidated Statements of Comprehensive Income	Investment gains (losses), net on our Condensed Consolidated Statements of Comprehensive Income included the following for the three months ended March 31, 2022 and 2021 (in millions): Three months ended March 31, 2022 2021 Seeded investment products and hedges, net $ (11.5) $ 5.6 Third-party ownership interests in seeded investment products (20.1) (8.0) Long Tail Alpha investment 1.5 2.1 Deferred equity plan (1.5) 1.9 Other (0.6) — Investment gains (losses), net $ (32.2) $ 1.6
Cash flows related to investment securities	Cash flows related to investment securities for the three months ended March 31, 2022 and 2021, are summarized as follows (in millions): Three months ended March 31, 2022 2021 Sales, Sales, Purchases settlements Purchases settlements and and and and settlements maturities settlements maturities Investment securities by consolidated seeded investment products $ (3.9) $ 16.9 $ (30.2) $ 2.1 Investment securities (40.5) 6.3 (0.5) 51.9

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
Derivative Instruments (Tables)	Mar. 31, 2022
Forward foreign exchange contracts and swaps
Schedule of Derivative assets and liabilities	Fair value March 31, 2022 December 31, 2021 Derivative assets $ 0.3 $ 3.2 Derivative liabilities 0.8 —
Schedule of derivative instruments	The notional value of the foreign currency forward contracts and swaps as of March 31, 2022, and December 31, 2021, is summarized as follows (in millions): Notional value March 31, 2022 December 31, 2021 Foreign currency forward contracts and swaps $ 59.2 $ 171.4
Not Designated as Hedging Instrument, Trading
Schedule of change in fair vale of derivative instruments	The change in fair value of the derivative instruments for the three months ended March 31, 2022 and 2021, are summarized as follows (in millions): Three months ended March 31, 2022 2021 Futures $ 15.4 $ (1.5) Credit default swaps 2.3 — Total return swaps 7.4 (2.9) Foreign currency forward contracts and swaps (7.0) 6.1 Total gain from derivative instruments $ 18.1 $ 1.7
Schedule of derivative instruments	We were party to the following derivative instruments as of March 31, 2022, and December 31, 2021 (in millions): Notional value March 31, 2022 December 31, 2021 Futures $ 352.9 $ 368.7 Credit default swaps 148.4 207.2 Total return swaps 52.7 55.0 Foreign currency forward contracts and swaps 456.2 415.6
Not Designated as Hedging Instrument
Schedule of Derivative assets and liabilities	Fair value March 31, 2022 December 31, 2021 Derivative assets $ 3.4 $ 8.8 Derivative liabilities 16.2 15.5
Seeded Investment Products
Schedule of Derivative assets and liabilities	The derivative assets and liabilities as of March 31, 2022, and December 31, 2021, are summarized as follows (in millions): Fair value March 31, 2022 December 31, 2021 Derivative assets $ 0.3 $ 3.2 Derivative liabilities 0.8 —
Schedule of derivative instruments	Our consolidated seeded investment products were party to the following derivative instruments as of March 31, 2022, and December 31, 2021 (in millions): Notional value March 31, 2022 December 31, 2021 Futures $ 118.8 $ 190.1 Credit default swaps 2.8 6.1 Total return swaps 13.1 — Options 0.4 0.1 Foreign currency forward contracts and swaps 81.0 22.1

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2022
Fair Value Measurements
Schedule of assets and liabilities presented in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis	The following table presents assets and liabilities reflected in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of March 31, 2022 (in millions): Fair value measurements using: Quoted prices in active markets for identical assets Significant other Significant and liabilities observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ 368.8 $ — $ — $ 368.8 Investment securities: Consolidated VIEs 208.3 30.3 5.9 244.5 Other investment securities 354.5 64.8 — 419.3 Total investment securities 562.8 95.1 5.9 663.8 Seed hedge derivatives — 3.4 — 3.4 Derivatives in consolidated seeded investment products — 0.5 — 0.5 Derivatives used in foreign currency hedging program — 0.3 — 0.3 Intech option agreement — — 3.9 3.9 Intech contingent consideration — — 12.6 12.6 Volantis contingent consideration — — 0.8 0.8 Total assets $ 931.6 $ 99.3 $ 23.2 $ 1,054.1 Liabilities: Derivatives in consolidated seeded investment products $ — $ 0.6 $ — $ 0.6 Derivatives used in foreign currency hedging program — 0.8 — 0.8 Securities sold, not yet purchased 2.6 — — 2.6 Seed hedge derivatives — 16.2 — 16.2 Long-term debt (1) — 313.4 — 313.4 Deferred bonuses — — 34.3 34.3 Total liabilities $ 2.6 $ 331.0 $ 34.3 $ 367.9 (1) Carried at amortized cost and disclosed at fair value. The following table presents assets and liabilities reflected in the financial statements or disclosed in the notes to the financial statements at fair value on a recurring basis as of December 31, 2021 (in millions): Fair value measurements using: Quoted prices in active markets for identical assets Significant other Significant and liabilities observable inputs unobservable inputs (Level 1) (Level 2) (Level 3) Total Assets: Cash equivalents $ 585.4 $ — $ — $ 585.4 Investment securities: Consolidated VIEs 216.8 26.2 7.9 250.9 Other investment securities 424.1 27.3 — 451.4 Total investment securities 640.9 53.5 7.9 702.3 Seed hedge derivatives — 8.8 — 8.8 Derivatives in consolidated seeded investment products — 0.6 — 0.6 Derivatives used in foreign currency hedging program — 3.2 — 3.2 Volantis contingent consideration — — 0.9 0.9 Total assets $ 1,226.3 $ 66.1 $ 8.8 $ 1,301.2 Liabilities: Derivatives in consolidated seeded investment products $ — $ 0.4 $ — $ 0.4 Securities sold, not yet purchased 3.1 — — 3.1 Seed hedge derivatives — 15.5 — 15.5 Long-term debt (1) — 328.7 — 328.7 Deferred bonuses — — 50.5 50.5 Total liabilities $ 3.1 $ 344.6 $ 50.5 $ 398.2 (1) Carried at amortized cost and disclosed at fair value.
Schedule of changes in fair value of the recurring Level 3 fair value measurements for collective items	Changes in fair value of our Level 3 assets for the three months ended March 31, 2022 and 2021, were as follows (in millions): Three months ended March 31, 2022 2021 Beginning of period fair value $ 8.8 $ 31.4 Intech option agreement 3.9 — Contingent consideration from sale of Intech 12.6 — Settlement of contingent consideration — (2.2) Fair value adjustments (1.5) (3.9) Purchases of securities (0.2) 2.3 Sales of securities (0.3) (0.4) Foreign currency translation (0.1) — End of period fair value $ 23.2 $ 27.2
Schedule of changes in fair value of the recurring Level 3 fair value measurements for individual items	Changes in fair value of our individual Level 3 liabilities for the three months ended March 31, 2022 and 2021, were as follows (in millions): Three months ended March 31, 2022 2021 Deferred Deferred bonuses bonuses Beginning of period fair value $ 50.5 $ 65.2 Fair value adjustments (1.6) 2.3 Vesting of deferred bonuses (21.6) (2.5) Amortization of deferred bonuses 8.4 8.0 Foreign currency translation (1.4) 0.6 End of period fair value $ 34.3 $ 73.6

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
Goodwill and Intangible Assets (Tables)	Mar. 31, 2022
Goodwill and Intangible Assets
Summary of goodwill and intangible assets	The following tables present movements in our intangible assets and goodwill during the three months ended March 31, 2022 and 2021 (in millions): December 31, Foreign currency March 31, 2021 Amortization Disposal Impairment translation 2022 Indefinite-lived intangible assets: Investment management agreements $ 2,114.8 $ — $ — $ — $ (7.8) $ 2,107.0 Trademarks 366.7 — (4.7) — — 362.0 Definite-lived intangible assets: Client relationships 168.4 — (84.8) — 0.1 83.7 Accumulated amortization (107.2) (1.9) 44.7 — 0.6 (63.8) Net intangible assets $ 2,542.7 $ (1.9) $ (44.8) $ — $ (7.1) $ 2,488.9 Goodwill $ 1,374.3 $ — $ (7.0) $ (32.8) $ (17.7) $ 1,316.8 December 31, Foreign currency March 31, 2020 Amortization Disposal Impairment translation 2021 Indefinite-lived intangible assets: Investment management agreements $ 2,242.9 $ — $ — $ — $ 1.4 $ 2,244.3 Trademarks 373.2 — — (3.6) — 369.6 Definite-lived intangible assets: Client relationships 170.9 — — — (0.1) 170.8 Accumulated amortization (100.7) (1.9) — — (0.2) (102.8) Net intangible assets $ 2,686.3 $ (1.9) $ — $ (3.6) $ 1.1 $ 2,681.9 Goodwill $ 1,383.9 $ — $ — $ — $ 5.9 $ 1,389.8
Client relationships
Goodwill and Intangible Assets
Schedule of expected future amortization	Expected future amortization expense related to client relationships is summarized below (in millions): Future amortization Amount 2022 (remainder of year) $ 2.1 2023 2.5 2024 1.1 2025 1.1 2026 1.1 Thereafter 12.0 Total $ 19.9

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2022
Debt
Components of debt	Our debt as of March 31, 2022, and December 31, 2021, consisted of the following (in millions): March 31, 2022 December 31, 2021 Carrying Fair Carrying Fair value value value value 4.875% Senior Notes due 2025 $ 309.7 $ 313.4 $ 310.4 $ 328.7

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
Income Taxes (Tables)	Mar. 31, 2022
Income Taxes
Schedule of effective income tax rates	Three months ended March 31, 2022 2021 Effective tax rate 28.0 % 22.6 %

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
Noncontrolling Interests (Tables)	Mar. 31, 2022
Noncontrolling Interests
Summary of redeemable noncontrolling interests	Redeemable noncontrolling interests as of March 31, 2022, and December 31, 2021, consisted of the following (in millions): March 31, December 31, 2022 2021 Consolidated seeded investment products $ 150.7 $ 148.5 Intech: Employee appreciation rights — 12.6 Founding member ownership interests — 2.3 Total redeemable noncontrolling interests $ 150.7 $ 163.4
Schedule of movement in redeemable noncontrolling interests in consolidated seeded investment products	The following table presents the movement in redeemable noncontrolling interests in consolidated seeded investment products for the three months ended March 31, 2022 and 2021 (in millions): Three months ended March 31, 2022 2021 Opening balance $ 148.5 $ 70.6 Changes in market value (20.1) (6.3) Changes in ownership 22.2 18.6 Foreign currency translation 0.1 0.8 Closing balance $ 150.7 $ 83.7
Summary of nonredeemable noncontrolling interests	Nonredeemable noncontrolling interests as of March 31, 2022, and December 31, 2021, were as follows (in millions): March 31, December 31, 2022 2021 Nonredeemable noncontrolling interests in: Seed capital investments $ 2.8 $ 2.8 Intech — 12.6 Total nonredeemable noncontrolling interests $ 2.8 $ 15.4

Long-Term Incentive Compensat_2

Long-Term Incentive Compensation (Tables)	3 Months Ended
Long-Term Incentive Compensation (Tables)	Mar. 31, 2022
Long-Term Incentive Compensation
Schedule of presents restricted stock and mutual fund awards granted	The following table presents restricted stock and mutual fund awards granted during the three months ended March 31, 2022 (in millions): Three months ended March 31, 2022 Restricted stock $ 100.0 Mutual fund awards 98.3 Total $ 198.3

Retirement Benefit Plans (Table

Retirement Benefit Plans (Tables)	3 Months Ended
Retirement Benefit Plans (Tables)	Mar. 31, 2022
Retirement Benefit Plans
Schedule of components of net periodic benefit credit	The components of net periodic benefit credit in respect of defined benefit plans for the three months ended March 31, 2022 and 2021, include the following (in millions): Three months ended March 31, 2022 2021 Service cost $ — $ (0.2) Interest cost (4.5) (2.8) Amortization of prior service cost (0.1) (0.1) Expected return on plan assets 4.5 3.3 Net periodic benefit credit $ (0.1) $ 0.2

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Mar. 31, 2022
Accumulated Other Comprehensive Loss.
Schedule of the changes in accumulated other comprehensive loss, net of tax	Changes in accumulated other comprehensive loss, net of tax for the three months ended March 31, 2022 and 2021, were as follows (in millions): Three months ended March 31, 2022 2021 Foreign Retirement benefit Foreign Retirement benefit currency asset, net Total currency asset, net Total Beginning balance $ (363.3) $ (32.8) $ (396.1) $ (313.6) $ (10.4) $ (324.0) Other comprehensive loss (47.8) — (47.8) 7.5 — 7.5 Amounts reclassified from accumulated other comprehensive loss 0.8 0.1 0.9 (4.2) 0.1 (4.1) Total other comprehensive loss (47.0) 0.1 (46.9) 3.3 0.1 3.4 Less: other comprehensive loss attributable to noncontrolling interests (0.2) — (0.2) (0.8) — (0.8) Ending balance $ (410.5) $ (32.7) $ (443.2) $ (311.1) $ (10.3) $ (321.4)
Components of other comprehensive income (loss), net of tax	The components of other comprehensive income (loss), net of tax for the three months ended March 31, 2022 and 2021, were as follows (in millions): Three months ended March 31, 2022 2021 Pre-tax Tax Net Pre-tax Tax Net amount impact amount amount impact amount Foreign currency translation adjustments $ (49.0) $ 1.2 $ (47.8) $ 7.1 $ 0.4 $ 7.5 Reclassifications to net income 0.9 — 0.9 (4.1) — (4.1) Total other comprehensive income (loss) $ (48.1) $ 1.2 $ (46.9) $ 3.0 $ 0.4 $ 3.4

Earnings and Dividends Per Sh_2

Earnings and Dividends Per Share (Tables)	3 Months Ended
Earnings and Dividends Per Share (Tables)	Mar. 31, 2022
Earnings and Dividends Per Share
Summary of earnings (loss) per share calculation	The following is a summary of the earnings per share calculation for the three months ended March 31, 2022 and 2021 (in millions, except per share data): Three months ended March 31, 2022 2021 Net income attributable to JHG $ 78.7 $ 155.5 Allocation of earnings to participating stock-based awards (2.0) (4.8) Net income attributable to JHG common shareholders $ 76.7 $ 150.7 Weighted-average common shares outstanding — basic 164.0 171.0 Dilutive effect of nonparticipating stock-based awards 0.5 0.8 Weighted-average common shares outstanding — diluted 164.5 171.8 Earnings (loss) per share: Basic (two class) $ 0.47 $ 0.88 Diluted (two class) $ 0.47 $ 0.88
Schedule of cash dividends declared and paid	The following is a summary of cash dividends declared and paid during the three months ended March 31, 2022: Dividend Date Dividends paid Date per share declared (in US$ millions) paid $ 0.38 February 2, 2022 $ 64.3 February 28, 2022

Dispositions (Details)

Dispositions (Details) $ in Millions	Mar. 31, 2022USD ($)tranche	Mar. 31, 2022USD ($)	Sep. 30, 2022USD ($)
Dispositions
Net loss on sale, before taxes		$ (9.1)
Intech Investment Management LLC
Dispositions
Ownership sold (as a percent)	97.00%	97.00%
Net loss on sale, before taxes	$ (9.1)
Contingent consideration receivable	17.5	$ 17.5
Contingent consideration	12.6	12.6
Cash proceeds	14.9
Fair value of option agreement	$ 3.9	3.9
Intech Investment Management LLC \| Term Note
Dispositions
Number of Tranches \| tranche	2
Term note funding	$ 20	20
Term of term note	7 years
Intech Investment Management LLC \| Tranche One \| Term Note
Dispositions
Term note funding	$ 10	$ 10
Interest rate of term note	5.50%	5.50%
Intech Investment Management LLC \| Tranche Two \| Term Note
Dispositions
Term note funding	$ 10	$ 10
Interest rate of term note	6.00%	6.00%
Intech Investment Management LLC \| Forecast \| Management Buyout
Dispositions
Cash consideration received			$ 9.9

Consolidation - VIEs (Details)

Consolidation - VIEs (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Consolidated VIEs
Investment securities	$ 244.5	$ 250.9
Unconsolidated VIEs
Investment securities	$ 94	$ 102.7

Consolidation - VREs (Details)

Consolidation - VREs (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Consolidated VRE's
Investment securities	$ 211.6	$ 179.6
Cash and cash equivalents	18.8	1.3
Other current assets	2	0.7
Accounts payable and accrued liabilities	(2.6)	(1.2)
Total	229.8	180.4
Redeemable noncontrolling interests in consolidated VREs	(32.3)	(17.5)
JHG's net interest in consolidated VREs	197.5	162.9
Unconsolidated VRE's
Investment securities	$ 25.7	$ 56.6

Investment Securities - General

Investment Securities - General Disclosure (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Short-term investments:
Estimated Fair Value	$ 663.8		$ 702.3
Unrealized gains (losses) on investment securities held at period end	(32.2)	$ 1.6
Seeded Investment Products
Short-term investments:
Seeded investment products	630.2		646.6
Investment securities \| Separately Managed Accounts
Short-term investments:
Seeded investment products	54.3		56.7
Investment securities \| Pooled investment funds
Short-term investments:
Seeded investment products	0.1		0.1
Investment securities \| Investments related to deferred compensation plans
Short-term investments:
Estimated Fair Value	26.3		50.3
Investment securities \| Other investments
Short-term investments:
Estimated Fair Value	7.3		5.4
Consolidated VIEs \| Investment securities
Short-term investments:
Seeded investment products	244.5		250.9
Consolidated VREs \| Investment securities
Short-term investments:
Seeded investment products	211.6		179.6
Unconsolidated VIEs and VREs \| Investment securities
Short-term investments:
Seeded investment products	$ 119.7		$ 159.3

Investment Securities - Offsett

Investment Securities - Offsetting Derivatives (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instrument Denominated in Foreign Currency
Investment gains (losses), net	$ (32.2)	$ 1.6
Cash flows related to investment securities
Purchases and settlements	(34.2)	51.4
Seeded investment products and derivatives
Derivative Instrument Denominated in Foreign Currency
Investment gains (losses), net	(11.5)	5.6
Third-party ownership interests in seeded investment products
Derivative Instrument Denominated in Foreign Currency
Investment gains (losses), net	(20.1)	(8)
Long Tail Alpha investment
Derivative Instrument Denominated in Foreign Currency
Investment gains (losses), net	1.5	2.1
Deferred Equity Plan
Derivative Instrument Denominated in Foreign Currency
Investment gains (losses), net	(1.5)	1.9
Other investments
Derivative Instrument Denominated in Foreign Currency
Investment gains (losses), net	(0.6)
Investment securities
Cash flows related to investment securities
Purchases and settlements	(40.5)	(0.5)
Sales, settlements and maturities	6.3	51.9
Investment securities \| Seeded Investment Products \| Consolidated
Cash flows related to investment securities
Purchases and settlements	(3.9)	(30.2)
Sales, settlements and maturities	$ 16.9	$ 2.1

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended
Derivative Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivatives
Gain from derivative instruments	$ 18.1	$ 1.7
Net gains (losses) in net income related to:
Securities sold, not yet purchased	2.6		$ 3.1
Seeded Investment Products
Derivatives
Derivative assets	0.3		3.2
Derivative liabilities	0.8
Not Designated as Hedging Instrument Trading
Derivatives
Derivative assets	3.4		8.8
Derivative liabilities	16.2		15.5
Futures
Derivatives
Gain from derivative instruments	15.4	(1.5)
Futures \| Seeded Investment Products
Derivatives
Notional value of derivative	118.8		190.1
Futures \| Derivative Instruments \| Not Designated as Hedging Instrument Trading
Derivatives
Notional value of derivative	352.9		368.7
Credit default swaps
Derivatives
Gain from derivative instruments	2.3
Credit default swaps \| Seeded Investment Products
Derivatives
Notional value of derivative	2.8		6.1
Credit default swaps \| Derivative Instruments \| Not Designated as Hedging Instrument Trading
Derivatives
Notional value of derivative	148.4		207.2
Total return swaps
Derivatives
Gain from derivative instruments	7.4	(2.9)
Total return swaps \| Seeded Investment Products
Derivatives
Notional value of derivative	13.1
Total return swaps \| Derivative Instruments \| Not Designated as Hedging Instrument Trading
Derivatives
Notional value of derivative	52.7		55
Options \| Seeded Investment Products
Derivatives
Notional value of derivative	0.4		0.1
Forward foreign exchange contracts and swaps
Derivatives
Notional value of derivative	59.2		171.4
Gain from derivative instruments	(7)	6.1
Derivative assets	0.3		3.2
Derivative liabilities	0.8
Forward foreign exchange contracts and swaps \| Seeded Investment Products
Derivatives
Notional value of derivative	81		22.1
Forward foreign exchange contracts and swaps \| Derivative Instruments \| Not Designated as Hedging Instrument Trading
Derivatives
Notional value of derivative	456.2		$ 415.6
Forward foreign exchange contracts and swaps \| Other non-operating expenses, net
Net gains (losses) in net income related to:
Gain (loss) on change in fair value of derivatives	$ (2.1)	$ 0.6

Fair Value Measurements - Level

Fair Value Measurements - Level of Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Liabilities
Securities sold, not yet purchased	$ 2.6	$ 3.1
Total redeemable noncontrolling interests	150.7	163.4
Forward foreign exchange contracts and swaps
Assets
Derivative assets	0.3	3.2
Liabilities
Derivative liabilities	0.8
Intech Investment Management LLC
Assets
Contingent consideration	12.6
Seeded Investment Products
Assets
Derivative assets	0.3	3.2
Liabilities
Derivative liabilities	0.8
Total redeemable noncontrolling interests	150.7	148.5	$ 83.7	$ 70.6
INTECH Founders
Liabilities
Total redeemable noncontrolling interests		2.3
Consolidated \| Seeded Investment Products
Liabilities
Total redeemable noncontrolling interests	150.7	148.5
Consolidated VIEs
Assets
Total investment securities	244.5	250.9
Unconsolidated VIEs
Assets
Total investment securities	94	102.7
Fair value measurements, recurring
Assets
Cash equivalents	368.8	585.4
Total assets	1,054.1	1,301.2
Liabilities
Securities sold, not yet purchased	2.6	3.1
Long-term debt	313.4	328.7
Total liabilities	367.9	398.2
Fair value measurements, recurring \| Deferred bonus
Liabilities
Derivative liabilities	34.3
Current portion of long-term debt		50.5
Fair value measurements, recurring \| Forward foreign exchange contracts and swaps
Assets
Derivative assets	0.3	3.2
Liabilities
Derivative liabilities	0.8
Fair value measurements, recurring \| Intech Investment Management LLC
Assets
Contingent consideration	12.6
Fair value measurements, recurring \| Intech Investment Management LLC \| Option Agreement
Assets
Derivative assets	3.9
Fair value measurements, recurring \| Volantis
Assets
Contingent consideration	0.8	0.9
Fair value measurements, recurring \| Investment securities.
Assets
Total investment securities	663.8	702.3
Fair value measurements, recurring \| Seed hedge derivatives
Assets
Derivative assets	3.4	8.8
Liabilities
Derivative liabilities	16.2	15.5
Fair value measurements, recurring \| Level 1
Assets
Cash equivalents	368.8	585.4
Total assets	931.6	1,226.3
Liabilities
Securities sold, not yet purchased	2.6	3.1
Total liabilities	2.6	3.1
Fair value measurements, recurring \| Level 1 \| Investment securities.
Assets
Total investment securities	562.8	640.9
Fair value measurements, recurring \| Level 2
Assets
Total assets	99.3	66.1
Liabilities
Long-term debt	313.4	328.7
Total liabilities	331	344.6
Fair value measurements, recurring \| Level 2 \| Forward foreign exchange contracts and swaps
Assets
Derivative assets	0.3	3.2
Liabilities
Derivative liabilities	0.8
Fair value measurements, recurring \| Level 2 \| Investment securities.
Assets
Total investment securities	95.1	53.5
Fair value measurements, recurring \| Level 2 \| Seed hedge derivatives
Assets
Derivative assets	3.4	8.8
Liabilities
Derivative liabilities	16.2	15.5
Fair value measurements, recurring \| Level 3
Assets
Total assets	23.2	8.8
Liabilities
Total liabilities	34.3	50.5
Fair value measurements, recurring \| Level 3 \| Deferred bonus
Liabilities
Derivative liabilities	34.3
Current portion of long-term debt		50.5
Fair value measurements, recurring \| Level 3 \| Intech Investment Management LLC
Assets
Contingent consideration	12.6
Fair value measurements, recurring \| Level 3 \| Intech Investment Management LLC \| Option Agreement
Assets
Derivative assets	3.9
Fair value measurements, recurring \| Level 3 \| Volantis
Assets
Contingent consideration	0.8	0.9
Fair value measurements, recurring \| Level 3 \| Investment securities.
Assets
Total investment securities	5.9	7.9
Fair value measurements, recurring \| Consolidated \| Seeded Investment Products
Assets
Derivative assets	0.5	0.6
Liabilities
Derivative liabilities	0.6	0.4
Fair value measurements, recurring \| Consolidated \| Level 2 \| Seeded Investment Products
Assets
Derivative assets	0.5	0.6
Liabilities
Derivative liabilities	0.6	0.4
Fair value measurements, recurring \| Consolidated VIEs \| Investment securities.
Assets
Total investment securities	244.5	250.9
Fair value measurements, recurring \| Consolidated VIEs \| Level 1 \| Investment securities.
Assets
Total investment securities	208.3	216.8
Fair value measurements, recurring \| Consolidated VIEs \| Level 2 \| Investment securities.
Assets
Total investment securities	30.3	26.2
Fair value measurements, recurring \| Consolidated VIEs \| Level 3 \| Investment securities.
Assets
Total investment securities	5.9	7.9
Fair value measurements, recurring \| Unconsolidated VIEs \| Investment securities.
Assets
Total investment securities	419.3	451.4
Fair value measurements, recurring \| Unconsolidated VIEs \| Level 1 \| Investment securities.
Assets
Total investment securities	354.5	424.1
Fair value measurements, recurring \| Unconsolidated VIEs \| Level 2 \| Investment securities.
Assets
Total investment securities	$ 64.8	$ 27.3

Fair Value Measurements - Intec

Fair Value Measurements - Intech Option Agreement and Contingent Consideration (Details) - Intech Investment Management LLC $ in Millions	Mar. 31, 2022USD ($)
Dispositions
Contingent consideration receivable	$ 17.5
Fair value of option agreement	3.9
Fair value of contingent consideration	$ 12.6

Fair Value Measurements - Volan

Fair Value Measurements - Volantis Contingent Consideration (Details) £ in Millions, $ in Millions	Apr. 01, 2017GBP (£)	Mar. 31, 2022GBP (£)	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Discontinued Operations, Disposed of by Sale
Dispositions
Fair value of contingent consideration			$ 0.8
Business Combination, Contingent Consideration, Asset			$ 0.8
Volantis \| Discontinued Operations, Disposed of by Sale
Dispositions
Percentage of share for consideration of sale	10.00%
Period of performance of investee for recognizing consideration	3 years
Fair value of contingent consideration				$ 0.9
Business Combination, Contingent Consideration, Asset				$ 0.9
Certain fund
Dispositions
Percentage of share for consideration of sale	50.00%
Performance fee threshold \| £	£ 12	£ 12

Fair Value Measurements - Lev_2

Fair Value Measurements - Level 3 Rollforward (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Change in fair value of Level 3 assets
Balance at the beginning of period, Asset value	$ 8.8	$ 31.4
Intech option agreement	3.9
Contingent consideration from sale of Intech	12.6
Settlement of contingent consideration		(2.2)
Fair value adjustments	(1.5)	(3.9)
Purchases of securities	(0.2)	2.3
Sales of securities	(0.3)	(0.4)
Foreign currency translation	(0.1)
Balance at the end of period, Asset value	23.2	27.2
Consolidated VIEs
Changes in fair value
Investment securities	244.5		$ 250.9
Level 3 \| Fair value measurements, recurring \| Deferred bonuses
Changes in fair value
Balance at the beginning of period, Liability Value	50.5	65.2
Fair value adjustments	(1.6)	2.3
Vesting of deferred bonuses	(21.6)	(2.5)
Amortization of deferred bonuses	8.4	8
Foreign currency translation	(1.4)	0.6
Balance at the end of period, Liability Value	$ 34.3	$ 73.6

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Definite-lived intangible assets:
Foreign currency translation		$ (0.1)
Accumulated amortization, balance at the beginning of the period	$ (107.2)	(100.7)
Amortization	(1.9)	(1.9)
Foreign currency translation	0.6	(0.2)
Accumulated amortization, balance at the end of the period	(63.8)	(102.8)
Net intangible assets
Net intangible assets, balance at the beginning of the period	2,542.7	2,686.3
Amortization	(1.9)	(1.9)
Impairment		(3.6)
Foreign currency translation	(7.1)	1.1
Net intangible assets, balance at the end of the period	2,488.9	2,681.9
Goodwill
Goodwill, balance at the beginning of the period	1,374.3	1,383.9
Impairment	(32.8)		$ (123.5)
Foreign currency translation	(17.7)	5.9
Goodwill, balance at the end of the period	1,316.8	1,389.8
Goodwill and intangible assets impairment	32.8	3.6
Geneva
Indefinite-lived intangible assets:
Disposal	(44.8)
Definite-lived intangible assets:
Disposal	44.8
Goodwill
Disposal	(7)
Client relationships
Definite-lived intangible assets:
Balance at the beginning of the period	168.4	170.9
Foreign currency translation	0.1
Balance at the end of the period	83.7	170.8
Client relationships \| Intech Investment Management LLC
Indefinite-lived intangible assets:
Disposal	(40.1)
Definite-lived intangible assets:
Disposal	40.1
Client relationships \| Geneva
Indefinite-lived intangible assets:
Disposal	(84.8)
Definite-lived intangible assets:
Disposal	84.8
Disposal	(44.7)
Investment management agreements
Indefinite-lived intangible assets:
Balance at the beginning of the period	2,114.8	2,242.9
Foreign currency translation	(7.8)	1.4
Balance at the end of the period	2,107	2,244.3
Indefinite-Lived Intangible Assets	2,107	2,244.3
Trademarks [Member]
Indefinite-lived intangible assets:
Balance at the beginning of the period	366.7	373.2
Disposal	(4.7)
Impairment		(3.6)
Balance at the end of the period	362	369.6
Indefinite-Lived Intangible Assets	362	369.6
Definite-lived intangible assets:
Disposal	4.7
Trademarks [Member] \| Intech Investment Management LLC
Indefinite-lived intangible assets:
Disposal	(4.7)
Definite-lived intangible assets:
Disposal	$ 4.7
Perkins Trademark
Indefinite-lived intangible assets:
Impairment		$ (3.6)

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Future Amortization (Details) $ in Millions	Mar. 31, 2022USD ($)
Future Amortization:
2022 (remainder of year)	$ 2.1
2023	2.5
2024	1.1
2025	1.1
2026	1.1
Thereafter	12
Total	$ 19.9

Debt (Details)

Debt (Details) $ in Millions	3 Months Ended
Debt (Details) $ in Millions	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
4.875% Senior Notes due 2025
Components of debt
Interest rate (as a percent)	4.875%
Other Disclosures
Face value of debt issued	$ 300
4.875% Senior Notes due 2025 \| Carrying value
Components of debt
Total debt	309.7	$ 310.4
4.875% Senior Notes due 2025 \| Fair value
Components of debt
Total debt	313.4	$ 328.7
Credit Facility
Other Disclosures
Credit facility, maximum borrowing capacity	$ 200
Credit facility covenant terms, financing leverage ratio, maximum	3
Borrowings under the Credit Facility	$ 0
Janus Capital Group Inc \| 4.875% Senior Notes due 2025
Other Disclosures
Unamortized premium, net	$ 9.7

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Income Taxes
Effective tax rate (as a percent)	28.00%	22.60%
Unrecognized tax benefits	$ 18.5
Anticipated decrease in income tax benefits in the next 12 months	$ 1.6

Noncontrolling Interests - Rede

Noncontrolling Interests - Redeemable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2020
Redeemable Noncontrolling Interests
Total redeemable noncontrolling interests	$ 163.4	$ 150.7
Seeded Investment Products
Redeemable Noncontrolling Interests
Total redeemable noncontrolling interests	148.5	150.7	$ 83.7	$ 70.6
INTECH Founders
Redeemable Noncontrolling Interests
Total redeemable noncontrolling interests	2.3
Consolidated \| Seeded Investment Products
Redeemable Noncontrolling Interests
Total redeemable noncontrolling interests	148.5	$ 150.7
Intech \| Subsidiaries [Member]
Redeemable Noncontrolling Interests
INTECH employee appreciation rights	$ 12.6

Noncontrolling interests - Seed

Noncontrolling interests - Seeded Investment Products (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Roll forward of redeemable noncontrolling interests in consolidated seed investment products
Opening balance	$ 163.4
Closing balance	150.7
Seeded Investment Products
Roll forward of redeemable noncontrolling interests in consolidated seed investment products
Opening balance	148.5	$ 70.6
Changes in market value	(20.1)	(6.3)
Changes in ownership	22.2	18.6
Foreign currency translation	0.1	0.8
Closing balance	$ 150.7	$ 83.7

Noncontrolling Interests - Nonr

Noncontrolling Interests - Nonredeemable (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Nonredeemable noncontrolling interests
Total nonredeemable noncontrolling interests	$ 2.8	$ 15.4
Intech Investment Management LLC
Nonredeemable noncontrolling interests
Ownership sold (as a percent)	97.00%
Seeded Investment Products
Nonredeemable noncontrolling interests
Total nonredeemable noncontrolling interests	$ 2.8	2.8
Subsidiaries [Member]
Nonredeemable noncontrolling interests
Total nonredeemable noncontrolling interests		$ 12.6

Long-Term Incentive and Employe

Long-Term Incentive and Employee Compensation (Details) shares in Millions	3 Months Ended
	Mar. 31, 2022shares
Long-Term Incentive and Employee Compensation
Units granted	198.3
Minimum
Long-Term Incentive and Employee Compensation
Vesting period	3 years
Maximum
Long-Term Incentive and Employee Compensation
Vesting period	4 years
Restricted Stock Awards
Long-Term Incentive and Employee Compensation
Units granted	100
Mutual Fund Share Awards
Long-Term Incentive and Employee Compensation
Units granted	98.3

Retirement benefit plans - Actu

Retirement benefit plans - Actuarial gains (losses), benefit cost, cash flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Components of net periodic benefit cost
Service cost		$ (0.2)
Interest cost	$ (4.5)	(2.8)
Amortization of prior service cost	(0.1)	(0.1)
Expected return on plan assets	4.5	3.3
Net periodic benefit credit	$ (0.1)	$ 0.2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	$ (4,647.8)
Other comprehensive income (loss), net of tax	(46.9)	$ 3.4
Less: other comprehensive loss (income) attributable to noncontrolling interests	(0.2)	(0.8)
Ending balance	(4,501.1)
Accumulated other comprehensive loss
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	396.1	324
Other comprehensive loss	(47.8)	7.5
Amounts reclassified from accumulated other comprehensive income (loss)	0.9	(4.1)
Other comprehensive income (loss), net of tax	(46.9)	3.4
Less: other comprehensive loss (income) attributable to noncontrolling interests	(0.2)	(0.8)
Ending balance	443.2	321.4
Accumulated Translation Adjustment [Member]
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	363.3	313.6
Other comprehensive loss	(47.8)	7.5
Amounts reclassified from accumulated other comprehensive income (loss)	0.8	(4.2)
Other comprehensive income (loss), net of tax	(47)	3.3
Less: other comprehensive loss (income) attributable to noncontrolling interests	(0.2)	(0.8)
Ending balance	410.5	311.1
Retirement benefit asset, net
Changes in accumulated other comprehensive loss, net of tax
Beginning balance	32.8	10.4
Amounts reclassified from accumulated other comprehensive income (loss)	0.1	0.1
Other comprehensive income (loss), net of tax	0.1	0.1
Ending balance	$ 32.7	$ 10.3

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - OCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Other comprehensive income, net of tax
Pre-tax amount	$ (48.1)	$ 3
Tax impact	1.2	0.4
Net amount	(46.9)	3.4
Accumulated Translation Adjustment [Member]
Other comprehensive income, net of tax
Pre-tax amount	(49)	7.1
Tax impact	1.2	0.4
Net amount	(47.8)	7.5
Reclassification to net income
Other comprehensive income, net of tax
Pre-tax amount	0.9	(4.1)
Net amount	$ 0.9	$ (4.1)

Earnings and Dividends Per Sh_3

Earnings and Dividends Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	May 03, 2022	Feb. 02, 2022	Mar. 31, 2022	Mar. 31, 2021
Earnings (loss) per share
Net income (loss) attributable to JHG			$ 78.7	$ 155.5
Allocation of earnings to participating stock-based awards			(2)	(4.8)
Net income (loss) attributable to JHG common shareholders			$ 76.7	$ 150.7
Weighted-average common shares outstanding - basic			164	171
Dilutive effect of non-participating stock-based awards			0.5	0.8
Weighted-average common shares outstanding - diluted			164.5	171.8
Earnings per share:
Basic (two class)			$ 0.47	$ 0.88
Diluted (two class)			0.47	0.88
Dividends Per Share
Dividends paid (per share)			$ 0.38	$ 0.36
Cash dividend declared (in dollars per share)	$ 0.39	$ 0.38
Cash dividends paid		$ 64.3	$ 64.3	$ 61.7
Increase of quarterly dividend (as a percent)	2.60%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transactions
Shares repurchased amount	$ 43.3	$ 230.2