Franklin Resources (BEN) 10-Q 28 Apr 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2017	Apr. 21, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Franklin Resources Inc
Entity Central Index Key	38,777
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		561,316,505

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Operating Revenues
Investment management fees	$ 1,089.2	$ 1,095.2	$ 2,152.4	$ 2,281.9
Sales and distribution fees	431.2	437	850.5	915.4
Shareholder servicing fees	56.4	61.8	113	123.7
Other	23.8	19.9	45.5	50.9
Total operating revenues	1,600.6	1,613.9	3,161.4	3,371.9
Operating Expenses
Sales, distribution and marketing	534.8	531.7	1,054.8	1,120.3
Compensation and benefits	343.4	374.3	654.9	716.8
Information systems and technology	54	49.6	105.7	100.8
Occupancy	29	33	58.1	63.7
General, administrative and other	83.9	88	145.5	179.4
Total operating expenses	1,045.1	1,076.6	2,019	2,181
Operating Income	555.5	537.3	1,142.4	1,190.9
Other Income (Expenses)
Investment and other income, net	84.6	17.4	130.7	47.9
Interest expense	(12.6)	(12.2)	(25.9)	(24.2)
Other income, net	72	5.2	104.8	23.7
Income before taxes	627.5	542.5	1,247.2	1,214.6
Taxes on income	192.5	181.7	393.4	391.4
Net income	435	360.8	853.8	823.2
Less: net income (loss) attributable to
Nonredeemable noncontrolling interests	(6)	1.9	(3.9)	15.5
Redeemable noncontrolling interests	20.3	(1.5)	(3.2)	(0.5)
Net Income Attributable to Franklin Resources, Inc.	$ 420.7	$ 360.4	$ 860.9	$ 808.2
Earnings per Share
Basic	$ 0.74	$ 0.61	$ 1.52	$ 1.36
Diluted	0.74	0.61	1.52	1.36
Dividends Declared per Share	$ 0.2	$ 0.18	$ 0.40	$ 0.36

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net Income	$ 435	$ 360.8	$ 853.8	$ 823.2
Other Comprehensive Income (Loss)
Net unrealized gains (losses) on investments, net of tax	5.4	(6.4)	3	(12.3)
Currency translation adjustments, net of tax	39.2	31.7	(21.7)	8.1
Net unrealized gains on defined benefit plans, net of tax	0	0	0	0.6
Total other comprehensive income (loss)	44.6	25.3	(18.7)	(3.6)
Total comprehensive income	479.6	386.1	835.1	819.6
Less: comprehensive income (loss) attributable to
Nonredeemable noncontrolling interests	(6)	1.9	(3.9)	15.5
Redeemable noncontrolling interests	20.3	(1.5)	(3.2)	(0.5)
Comprehensive Income Attributable to Franklin Resources, Inc.	$ 465.3	$ 385.7	$ 842.2	$ 804.6

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Assets
Cash and cash equivalents	$ 8,776.1	$ 8,483.3
Receivables	1,023.5	794.3
Investments	1,427.7	2,416.6
Investments, at fair value	469.9	1,437.6
Property and equipment, net	509.8	523.2
Goodwill and other intangible assets, net	2,224	2,211.3
Other	140.8	156.7
Total Assets	17,210.1	16,098.8
Liabilities
Compensation and benefits	276.2	357.4
Accounts payable and accrued expenses	259.3	233.3
Dividends	114.2	104.6
Commissions	293.7	302
Debt	1,374.1	1,401.2
Deferred taxes	159.8	161.5
Other	293.7	267.3
Total liabilities	3,077.1	3,509.5
Commitments and Contingencies (Note 9)
Redeemable Noncontrolling Interests	1,659.8	61.1
Stockholders' Equity
Preferred stock, $1.00 par value, 1,000,000 shares authorized; none issued	0	0
Common stock, $0.10 par value, 1,000,000,000 shares authorized; 562,083,716 and 570,345,156 shares issued and outstanding at March 31, 2017 and September 30, 2016	56.2	57
Retained earnings	12,510.6	12,226.2
Accumulated other comprehensive loss	(373.2)	(347.4)
Total Franklin Resources, Inc. stockholders’ equity	12,193.6	11,935.8
Nonredeemable noncontrolling interests	279.6	592.4
Total stockholders’ equity	12,473.2	12,528.2
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	17,210.1	16,098.8
Franklin Resources, Inc. [Member]
Assets
Cash and cash equivalents	8,287.6	8,247.1
Consolidated sponsored investment products [Member]
Assets
Cash and cash equivalents	488.5	236.2
Receivables	273.7	47.9
Investments, at fair value	3,108.2	1,513.4
Other	0.9	1.4
Total Assets	3,871.3	1,798.9
Liabilities
Accounts payable and accrued expenses	117.8	65.2
Debt	306.1	682.2
Other	11.5	8.5
Total liabilities	435.4	755.9
Redeemable Noncontrolling Interests	1,659.8	61.1
Stockholders' Equity
Total Franklin Resources, Inc. stockholders’ equity	1,521.6	414.1
Nonredeemable noncontrolling interests	254.5	567.8
Total stockholders’ equity	1,776.1	981.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	$ 3,871.3	$ 1,798.9

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Statement of Financial Position [Abstract]
Investments, at fair value	$ 469.9	$ 1,437.6
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.1	$ 0.1
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	562,083,716	570,345,156
Common stock, shares outstanding	562,083,716	570,345,156

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net cash provided by operating activities
Net Income	$ 853.8	$ 823.2
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred sales commissions	34.4	36.9
Depreciation and other amortization	40.5	46.4
Impairment of intangible assets	3.8	28.2
Stock-based compensation	63.3	70.3
Excess tax benefit from stock-based compensation	(0.3)	(0.3)
Gains on sale of assets	(3.1)	(26.2)
Income from investments in equity method investees	(70.5)	(8.2)
Net losses on other investments of consolidated sponsored investment products	6.8	9.9
Deferred income taxes	0.6	(20.2)
Other	(8.5)	(2)
Changes in operating assets and liabilities:
Increase in receivables, prepaid expenses and other	(75.1)	(3.4)
Decrease (increase) in trading securities, net	65.8	(208)
Increase in trading securities of consolidated sponsored investment products, net	(285.6)	(90.1)
Decrease in accrued compensation and benefits	(79.1)	(127.9)
Decrease in commissions payable	(8.3)	(51.1)
Increase (decrease) in income taxes payable	53.9	(28.7)
Increase (decrease) in other liabilities	21.9	(19.1)
Net cash provided by operating activities	614.3	429.7
Net cash provided by investing activities
Purchase of investments	(292.1)	(192)
Liquidation of investments	239.5	285.1
Purchase of other investments by consolidated sponsored investment products	(88.1)	(151.9)
Liquidation of other investments by consolidated sponsored investment products	283.7	204
Additions of property and equipment, net	(28.8)	(35.1)
Adoption of new accounting guidance	(49.2)	0
Acquisition of business	(14)	0
Net consolidation (deconsolidation) of sponsored investment products	23.1	(11.1)
Net cash provided by investing activities	74.1	99
Net cash used in financing activities
Issuance of common stock	13	13.5
Dividends paid on common stock	(216.7)	(198.9)
Repurchase of common stock	(425.1)	(734.3)
Excess tax benefit from stock-based compensation	0.3	0.3
Proceeds from loan	0	93.4
Payment on loan	(22.5)	0
Proceeds from debt of consolidated sponsored investment products	0.7	19.3
Payments on debt by consolidated sponsored investment products	(44.7)	(88.6)
Payments on contingent consideration liabilities	(31.7)	(2.8)
Noncontrolling interests	364.9	31.6
Net cash used in financing activities	(361.8)	(866.5)
Effect of exchange rate changes on cash and cash equivalents	(33.8)	10.7
Increase (decrease) in cash and cash equivalents	292.8	(327.1)
Cash and cash equivalents, beginning of period	8,483.3	8,368.1
Cash and Cash Equivalents, End of Period	8,776.1	8,041
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	332	433.7
Cash paid for interest	23.4	21.7
Cash paid for interest by consolidated sponsored investment products	$ 7.4	$ 14.1

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim financial statements of Franklin Resources, Inc. and its consolidated subsidiaries (collectively, the “Company”) included herein have been prepared by the Company in accordance with the instructions to Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission. Under these rules and regulations, some information and footnote disclosures normally included in financial statements prepared under accounting principles generally accepted in the United States of America have been shortened or omitted. Management believes that all adjustments necessary for a fair statement of the financial position and the results of operations for the periods shown have been made. All adjustments are normal and recurring. These financial statements should be read together with the Company’s audited financial statements included in its Form 10-K for the fiscal year ended September 30, 2016 (“fiscal year 2016”). Certain comparative amounts for the prior fiscal year period have been reclassified to conform to the financial statement presentation as of and for the period ended March 31, 2017 .

New Accounting Guidance

New Accounting Guidance	6 Months Ended
	Mar. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Guidance	New Accounting Guidance Recently Adopted Accounting Guidance On October 1, 2016 , the Company adopted an amendment to the consolidation guidance issued by the Financial Accounting Standards Board (“FASB”) using the modified retrospective approach which did not require the restatement of prior year periods. The amendment modifies the consolidation framework for certain investment entities and all limited partnerships. It also eliminates certain criteria used to determine whether fees paid to a decision maker are a variable interest and results in a lower consolidation threshold for variable interest entities (“VIEs”). The adoption caused the consolidation of 24 sponsored investment products (“SIPs”) that changed from voting interest entities (“VOEs”) to VIEs and three other SIPs that are VIEs. In addition, two collateralized loan obligations (“CLOs”) for which the Company was previously the primary beneficiary and five limited partnerships were deconsolidated. The adoption resulted in net increases in total assets, redeemable noncontrolling interests and retained earnings of $180.9 million , $824.7 million and $5.8 million , and net decreases in total liabilities, nonredeemable noncontrolling interests and other equity of $317.9 million , $324.6 million and $7.1 million as of October 1, 2016. Accounting Guidance Not Yet Adopted The FASB issued an amendment to the existing stock-based compensation guidance in March 2016. The amendment requires all income tax effects of stock-based awards to be recognized as income tax expense when the awards vest or settle and clarifies the classification of these transactions within the statement of cash flows. The amendment also provides an election to account for forfeitures as they occur, which the Company expects to take. The amendment is effective for the Company on October 1, 2017 and requires varying transition approaches for the different changes to the guidance. The Company expects the adoption to increase the volatility of income tax expense as a result of fluctuations in its stock price. The FASB issued new guidance in May 2014 that requires use of a single principles-based model for recognition of revenue from contracts with customers. The core principle of the model is that revenue is recognized upon the transfer of promised goods or services to customers in an amount that reflects the expected consideration to be received for the goods or services. The guidance also changes the accounting for certain contract costs and revises the criteria for determining if an entity is acting as a principal or agent in certain arrangements. The guidance is effective for the Company on October 1, 2018 and allows for either a full retrospective or modified approach at adoption. While the Company’s implementation efforts are ongoing, it does not expect adoption of the guidance to have a significant impact on the timing of recognition for the majority of its operating revenue. The Company is evaluating certain costs to determine if they should be capitalized or expensed based on the criteria in the guidance for costs to obtain or fulfill a contract. Additionally, it is assessing certain arrangements to determine whether it continues to act as a principal and present the related revenue gross of associated expenses. The overall impact upon adoption may differ based on further evaluation and additional facts and circumstances identified during implementation. The Company has not yet determined its transition approach. The FASB issued an amendment to the existing financial instruments guidance in January 2016. The amendment requires substantially all equity investments in nonconsolidated entities to be measured at fair value with changes recognized in earnings, except for those accounted for using the equity method of accounting, which will impact all equity securities currently classified as available-for-sale. The amendment also provides an election to measure equity investments that do not have a readily determinable fair value at cost less impairment, if any, which the Company expects to take. The amendment is effective for the Company on October 1, 2018 and requires a cumulative effect adjustment to retained earnings at adoption. The Company does not expect the adoption to have a material impact on its consolidated financial statements; however, this could be affected by market volatility as well as additional facts and circumstances identified during implementation. There were no other significant updates to the new accounting guidance not yet adopted by the Company as disclosed in its Form 10-K for fiscal year 2016.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Stockholders’ Equity	Stockholders’ Equity Changes in total stockholders’ equity were as follows: (in millions) Franklin Resources, Inc. Stockholders’ Equity Nonredeemable Noncontrolling Interests Total Stockholders’ Equity for the six months ended March 31, 2017 Balance at October 1, 2016 $ 11,935.8 $ 592.4 $ 12,528.2 Adoption of new accounting guidance (1.3 ) (324.6 ) (325.9 ) Net income (loss) 860.9 (3.9 ) 857.0 Other comprehensive loss (18.7 ) (18.7 ) Cash dividends declared on common stock (226.3 ) (226.3 ) Repurchase of common stock (428.5 ) (428.5 ) Net subscriptions and other 15.7 15.7 Stock-based compensation 71.7 71.7 Balance at March 31, 2017 $ 12,193.6 $ 279.6 $ 12,473.2 (in millions) Franklin Resources, Inc. Stockholders’ Equity Nonredeemable Noncontrolling Interests Total Stockholders’ Equity for the six months ended March 31, 2016 Balance at October 1, 2015 $ 11,841.0 $ 654.8 $ 12,495.8 Net income 808.2 15.5 823.7 Other comprehensive loss (3.6 ) (3.6 ) Cash dividends declared on common stock (213.3 ) (213.3 ) Repurchase of common stock (741.4 ) (741.4 ) Net distributions and other (37.0 ) (37.0 ) Stock-based compensation 79.5 79.5 Balance at March 31, 2016 $ 11,770.4 $ 633.3 $ 12,403.7 During the three and six months ended March 31, 2017 , the Company repurchased 4.0 million and 11.1 million shares of its common stock at a cost of $166.8 million and $428.5 million under its stock repurchase program. At March 31, 2017 , 39.6 million shares remained available for repurchase under the program, which is not subject to an expiration date. During the three and six months ended March 31, 2016 , the Company repurchased 9.6 million and 20.1 million shares of its common stock at a cost of $337.3 million and $741.4 million .

Earnings per Share

Earnings per Share	6 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The components of basic and diluted earnings per share were as follows: (in millions, except per share data) Three Months Ended Six Months Ended 2017 2016 2017 2016 Net income attributable to Franklin Resources, Inc. $ 420.7 $ 360.4 $ 860.9 $ 808.2 Less: allocation of earnings to participating nonvested stock and stock unit awards 3.5 2.7 6.4 5.4 Net Income Available to Common Stockholders $ 417.2 $ 357.7 $ 854.5 $ 802.8 Weighted-average shares outstanding – basic 560.3 587.0 562.7 592.4 Dilutive effect of nonparticipating nonvested stock unit awards 0.3 0.1 0.2 — Weighted-Average Shares Outstanding – Diluted 560.6 587.1 562.9 592.4 Earnings per Share Basic $ 0.74 $ 0.61 $ 1.52 $ 1.36 Diluted 0.74 0.61 1.52 1.36 Nonparticipating nonvested stock unit awards excluded from the calculation of diluted earnings per share because their effect would have been antidilutive were 0.2 million and 0.7 million for the three and six months ended March 31, 2017 , and 1.3 million for both the three and six months ended March 31, 2016 .

Investments

Investments	6 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Investments	Investments The disclosures below include details of the Company’s investments, excluding those of consolidated SIPs. See Note 7 – Consolidated Sponsored Investment Products for information related to the investments held by these entities. Investments consisted of the following: (in millions) March 31, September 30, Investment securities, trading SIPs $ 85.8 $ 844.4 Debt and other equity securities 287.3 277.5 Total investment securities, trading 373.1 1,121.9 Investment securities, available-for-sale SIPs 80.8 297.7 Debt and other equity securities 2.9 3.7 Total investment securities, available-for-sale 83.7 301.4 Investments in equity method investees 859.8 797.4 Other investments 111.1 195.9 Total $ 1,427.7 $ 2,416.6 Debt and other equity trading securities consist primarily of corporate debt. Investment securities with aggregate carrying amounts of $38.8 million and $117.3 million were pledged as collateral at March 31, 2017 and September 30, 2016 . Gross unrealized gains and losses relating to investment securities, available-for-sale were as follows: (in millions) Gross Unrealized Cost Basis Gains Losses Fair Value as of March 31, 2017 SIPs $ 78.0 $ 7.2 $ (4.4 ) $ 80.8 Debt and other equity securities 1.7 1.2 — 2.9 Total $ 79.7 $ 8.4 $ (4.4 ) $ 83.7 as of September 30, 2016 SIPs $ 289.6 $ 13.7 $ (5.6 ) $ 297.7 Debt and other equity securities 3.6 0.1 — 3.7 Total $ 293.2 $ 13.8 $ (5.6 ) $ 301.4 Gross unrealized losses relating to investment securities, available-for-sale aggregated by length of time that individual securities have been in a continuous unrealized loss position were as follows: Less Than 12 Months 12 Months or Greater Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses as of March 31, 2017 SIPs $ 7.3 $ (3.9 ) $ 4.7 $ (0.5 ) $ 12.0 $ (4.4 ) as of September 30, 2016 SIPs 75.8 (4.3 ) 18.0 (1.3 ) 93.8 (5.6 ) The Company recognized $0.3 million of other-than-temporary impairment during the six months ended March 31, 2017 , none of which was recognized during the three months ended March 31, 2017 . During the three and six months ended March 31, 2016 , the Company recognized other-than-temporary impairment of $4.4 million and $4.8 million , of which $3.3 million and $3.7 million related to available-for-sale SIPs and $1.1 million related to cost method investments.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The disclosures below include details of the Company’s fair value measurements, excluding those of consolidated SIPs. See Note 7 – Consolidated Sponsored Investment Products for information related to fair value measurements of the assets and liabilities of these entities. The assets and liabilities measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 Total as of March 31, 2017 Assets Investment securities, trading SIPs $ 85.8 $ — $ — $ 85.8 Debt and other equity securities 6.0 83.7 197.6 287.3 Investment securities, available-for-sale SIPs 80.8 — — 80.8 Debt and other equity securities 2.0 0.6 0.3 2.9 Life settlement contracts — — 13.1 13.1 Total Assets Measured at Fair Value $ 174.6 $ 84.3 $ 211.0 $ 469.9 Liabilities Contingent consideration liabilities $ — $ — $ 60.4 $ 60.4 (in millions) Level 1 Level 2 Level 3 Total as of September 30, 2016 Assets Investment securities, trading SIPs $ 844.4 $ — $ — $ 844.4 Debt and other equity securities 2.6 84.1 190.8 277.5 Investment securities, available-for-sale SIPs 297.7 — — 297.7 Debt and other equity securities 1.6 2.1 — 3.7 Life settlement contracts — — 14.3 14.3 Total Assets Measured at Fair Value $ 1,146.3 $ 86.2 $ 205.1 $ 1,437.6 Liability Contingent consideration liability $ — $ — $ 98.1 $ 98.1 The fair values of all SIPs and certain other equity securities are determined based on their published net asset values and they are classified as Level 1. The fair values of certain debt and other equity securities are determined using quoted market prices, if available, or independent third-party broker or dealer price quotes, which are evaluated for reasonableness, and they are classified as Level 2. The fair values of other debt securities and all life settlement contracts are determined using discounted cash flow valuation techniques, except for the fair value of certain debt securities which was determined using market pricing as of March 31, 2017 ; both techniques use significant unobservable inputs and the assets are classified as Level 3. The fair value of contingent consideration liabilities, which are classified as Level 3, is determined using an income-based method which considers the net present value of anticipated future cash flows. There were no transfers between Level 1 and Level 2, or into Level 3, during the six months ended March 31, 2017 and 2016 . Changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: 2017 2016 (in millions) Investments Contingent Investments Contingent for the three months ended March 31, Balance at beginning of period $ 198.7 $ (83.7 ) $ 23.8 $ (115.8 ) Acquisition — (5.7 ) — — Total realized and unrealized gains (losses) Included in investment and other income, net 5.0 — 0.9 — Included in general, administrative and other expense — (4.2 ) — 19.6 Purchases 0.3 — 183.2 — Settlements (0.8 ) 33.2 (0.9 ) — Transfers out of Level 3 (0.4 ) — — — Foreign exchange revaluation 8.2 — 4.1 — Balance at End of Period $ 211.0 $ (60.4 ) $ 211.1 $ (96.2 ) Change in unrealized gains (losses) included in net income relating to assets and liabilities held at end of period $ 4.4 $ (4.2 ) $ 0.3 $ 19.6 2017 2016 (in millions) Investments Contingent Investments Contingent for the six months ended March 31, Balance at beginning of period $ 205.1 $ (98.1 ) $ 20.7 $ (102.9 ) Acquisition — (5.7 ) — — Total realized and unrealized gains Included in investment and other income, net 5.6 — 1.5 — Included in general, administrative and other expense — 8.0 — 3.4 Purchases 0.8 — 186.5 — Sales (2.4 ) — — — Settlements (2.5 ) 35.4 (1.7 ) 3.3 Transfers out of Level 3 (0.4 ) — — — Foreign exchange revaluation 4.8 — 4.1 — Balance at End of Period $ 211.0 $ (60.4 ) $ 211.1 $ (96.2 ) Change in unrealized gains included in net income relating to assets and liabilities held at end of period $ 4.2 $ 8.0 $ 0.5 $ 3.4 Valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements were as follows: (in millions) as of March 31, 2017 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Investment securities, trading – debt and other equity securities $ 190.8 Market pricing Indicative bid $70.7 per $100 of par 6.8 Discounted cash flow Discount rate 6.5%–6.7% (6.6%) Risk premium 2.0%–2.5% (2.2%) Life settlement contracts 13.1 Discounted cash flow Life expectancy 21–127 months (64) Discount rate 8.0%–20.0% (13.1%) Contingent consideration liabilities 60.4 Discounted cash flow AUM growth rate (1.8%)–2.5% (0.3%) EBITDA margin 8.5%–8.8% (8.6%) Discount rate 13.3% (in millions) as of September 30, 2016 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Investment securities, trading – debt and other equity securities $ 190.8 Discounted cash flow Discount rate 3.6%–6.9% (6.7%) Risk premium 2.0%–17.9% (16.5%) Liquidity discount 0.0%–10.0% (9.6%) Life settlement contracts 14.3 Discounted cash flow Life expectancy 20–132 months (65) Discount rate 3.3%–18.0% (11.5%) Contingent consideration liability 98.1 Discounted cash flow AUM growth rate 2.4%–11.5% (5.9%) EBITDA margin 14.3% Discount rate 13.2% For investment securities, trading – debt and other equity securities using the market pricing technique, a significant increase (decrease) in the indicative bid would result in a significantly higher (lower) fair value measurement. For investment securities, trading – debt and other equity securities using the discounted cash flow technique, a significant increase (decrease) in the discount rate, risk premium or liquidity discount in isolation would result in a significantly lower (higher) fair value measurement. For life settlement contracts, a significant increase (decrease) in the life expectancy or the discount rate in isolation would result in a significantly lower (higher) fair value measurement. For contingent consideration liabilities, a significant increase (decrease) in the AUM growth rate or EBITDA margin, or decrease (increase) in the discount rate, in isolation would result in a significantly higher (lower) fair value measurement. Financial instruments that were not measured at fair value were as follows: (in millions) March 31, 2017 September 30, 2016 Fair Value Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 8,287.6 $ 8,287.6 $ 8,247.1 $ 8,247.1 Other investments Time deposits 2 51.0 51.0 131.6 131.6 Cost method investments 3 47.0 63.2 50.0 61.3 Financial Liabilities Debt Senior notes 2 1,343.3 1,364.8 1,348.5 1,412.5 Loan 2 30.8 30.8 52.7 52.7

Consolidated Sponsored Investme

Consolidated Sponsored Investment Products	6 Months Ended
	Mar. 31, 2017
Consolidated Sponsored Investment Products [Abstract]
Consolidated Sponsored Investment Products	Consolidated Sponsored Investment Products The Company consolidates SIPs, which consist of both VOEs and VIEs, when it has a controlling financial interest. The Company has a controlling financial interest when it owns a majority of the voting interest in a VOE or when it is the primary beneficiary of a VIE. A VIE is an entity in which the equity investment holders have not contributed sufficient capital to finance its activities or they do not have defined rights and obligations normally associated with an equity investment. The Company ’ s VIEs are all investment entities, and its variable interests consist of its equity ownership interest in and certain investment management fees earned from these entities. The Company adopted new accounting guidance on October 1, 2016 that modifies the consolidation framework for certain investment entities and all limited partnerships. As a result of the modifications, certain SIPs changed from VOEs to VIEs and became subject to a lower threshold for consolidation. Additionally, there is now a single model to determine whether the Company is the primary beneficiary of a VIE. The Company is the primary beneficiary if it has the power to direct the activities that most significantly impact the VIE ’ s economic performance and the obligation to absorb losses of or right to receive benefits from the VIE that could potentially be significant to the VIE. Investment management fees earned from VIEs are excluded from the primary beneficiary determination if they are deemed to be at market and commensurate with service. The key estimates and assumptions used in the analyses include the amount of assets under management (“AUM”), investment management fee rates, the life of the investment product, prepayment rates and the discount rate. The new guidance did not change the consolidation framework for VOEs. Consolidated SIPs consist of mutual and other investment funds, limited partnerships and similar structures and CLOs, which are asset-backed financing entities collateralized by a pool of corporate debt securities. The Company consolidated 63 SIPs, including one CLO, as of March 31, 2017 and 40 SIPs, including three CLOs, as of September 30, 2016 . The CLO consolidated as of March 31, 2017 is in the process of liquidation, which is expected to be completed by September 30, 2017. Amounts for prior periods have been reclassified to combine amounts previously presented separately as consolidated SIPs and consolidated VIEs. The balances of consolidated SIPs included in the Company’s condensed consolidated balance sheets were as follows: (in millions) March 31, September 30, 2016 Assets Cash and cash equivalents $ 488.5 $ 236.2 Receivables 273.7 47.9 Investments, at fair value 3,108.2 1,513.4 Other assets 0.9 1.4 Total Assets $ 3,871.3 $ 1,798.9 Liabilities Accounts payable and accrued expenses $ 117.8 $ 65.2 Debt 306.1 682.2 Other liabilities 11.5 8.5 Total liabilities 435.4 755.9 Redeemable Noncontrolling Interests 1,659.8 61.1 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,521.6 414.1 Nonredeemable noncontrolling interests 254.5 567.8 Total stockholders’ equity 1,776.1 981.9 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 3,871.3 $ 1,798.9 The consolidated SIPs did not have a significant impact on net income attributable to the Company during the three and six months ended March 31, 2017 and 2016 . The Company has no right to the consolidated SIPs’ assets, other than its direct equity investments in them and investment management fees earned from them. The debt holders of the consolidated SIPs have no recourse to the Company’s assets beyond the level of its direct investment, therefore the Company bears no other risks associated with the SIPs’ liabilities. SIPs are typically consolidated when the Company makes an initial investment in a newly launched investment entity. They are typically deconsolidated when the Company no longer has a controlling financial interest due to redemptions of its investment or increases in third-party investments. The Company’s investments in SIPs subsequent to deconsolidation are accounted for as trading or available-for-sale investment securities, or equity method or cost method investments depending on the structure of the SIP and the Company’s role and level of ownership. Investments Investments of consolidated SIPs consisted of the following: (in millions) March 31, September 30, Investment securities, trading $ 2,705.1 $ 287.8 Other debt securities 115.1 618.3 Other equity securities 288.0 607.3 Total $ 3,108.2 $ 1,513.4 Investment securities, trading consist of equity and debt securities that are traded in active markets. Other debt securities consist of debt securities of entities in emerging markets and corporate debt securities held by CLOs. Other equity securities consist of equity securities of entities in emerging markets and fund products. Investments in fund products for which fair value was estimated using reported net asset value (“NAV”) as a practical expedient were as follows: (in millions) Redemption Frequency March 31, September 30, Real estate and private equity funds Nonredeemable $ 147.0 $ 444.2 Hedge funds Monthly, quarterly or triennially — 1.8 Total $ 147.0 $ 446.0 The investments in real estate and private equity funds are expected to be returned through distributions as a result of liquidations of the funds’ underlying assets over a weighted-average period of 4.9 years and 3.2 years at March 31, 2017 and September 30, 2016 . The consolidated SIPs’ unfunded commitments to these funds totaled $2.0 million and $74.4 million at March 31, 2017 and September 30, 2016 , of which the Company was contractually obligated to fund $0.4 million and $2.2 million based on its ownership percentage in the SIPs. Fair Value Measurements Assets and liabilities of consolidated SIPs measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 NAV as a Practical Expedient Total as of March 31, 2017 Assets Cash and cash equivalents of CLO $ 210.9 $ — $ — $ — $ 210.9 Receivables of CLO — 43.7 — — 43.7 Investments Equity securities 301.0 101.9 140.7 147.0 690.6 Debt securities 4.7 2,298.5 114.4 — 2,417.6 Total Assets Measured at Fair Value $ 516.6 $ 2,444.1 $ 255.1 $ 147.0 $ 3,362.8 Liabilities Other liabilities $ 0.5 $ 11.0 $ — $ — $ 11.5 (in millions) Level 1 Level 2 Level 3 NAV as a Practical Expedient Total as of September 30, 2016 Assets Cash and cash equivalents of CLOs $ 146.4 $ — $ — $ — $ 146.4 Receivables of CLOs — 23.6 — — 23.6 Investments Equity securities 155.4 0.5 160.3 446.0 762.2 Debt securities — 618.9 132.3 — 751.2 Total Assets Measured at Fair Value $ 301.8 $ 643.0 $ 292.6 $ 446.0 $ 1,683.4 Liabilities Other liabilities $ 0.1 $ 8.4 $ — $ — $ 8.5 Investments in fund products for which fair value was estimated using NAV as a practical expedient are not classified in the fair value hierarchy. There were no transfers between Level 1 and Level 2, or into or out of Level 3, during the six months ended March 31, 2017 and 2016 . Changes in Level 3 assets measured at fair value on a recurring basis were as follows: 2017 2016 (in millions) Equity Debt Total Equity Debt Total for the three months ended March 31, Balance at beginning of period $ 131.6 $ 124.4 $ 256.0 $ 188.1 $ 123.9 $ 312.0 Realized and unrealized gains (losses) included in investment and other income, net 4.2 (14.2 ) (10.0 ) 6.1 (3.0 ) 3.1 Purchases 4.5 5.6 10.1 0.3 7.0 7.3 Sales — (1.9 ) (1.9 ) (30.1 ) (4.5 ) (34.6 ) Foreign exchange revaluation 0.4 0.5 0.9 2.4 2.0 4.4 Balance at End of Period $ 140.7 $ 114.4 $ 255.1 $ 166.8 $ 125.4 $ 292.2 Change in unrealized gains (losses) included in net income relating to assets held at end of period $ 4.2 $ (14.3 ) $ (10.1 ) $ 4.4 $ (3.3 ) $ 1.1 2017 2016 (in millions) Equity Debt Total Equity Debt Total for the six months ended March 31, Balance at beginning of period $ 160.3 $ 132.3 $ 292.6 $ 191.6 $ 130.2 $ 321.8 Adoption of new accounting guidance (45.4 ) (0.5 ) (45.9 ) — — — Realized and unrealized gains (losses) included in investment and other income, net 0.9 (14.5 ) (13.6 ) 5.0 (1.9 ) 3.1 Purchases 25.5 7.8 33.3 0.3 9.5 9.8 Sales (0.1 ) (8.3 ) (8.4 ) (30.1 ) (14.1 ) (44.2 ) Foreign exchange revaluation (0.5 ) (2.4 ) (2.9 ) — 1.7 1.7 Balance at End of Period $ 140.7 $ 114.4 $ 255.1 $ 166.8 $ 125.4 $ 292.2 Change in unrealized gains (losses) included in net income relating to assets held at end of period $ 0.8 $ (15.0 ) $ (14.2 ) $ 2.8 $ (2.9 ) $ (0.1 ) Valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements were as follows: (in millions) as of March 31, 2017 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Equity securities $ 93.8 Market comparable companies EBITDA multiple 6.0–12.3 (10.0) 32.0 Discounted cash flow Discount rate 5.7%–19.8% (14.8%) 14.9 Market pricing Price to earnings ratio 10.0 Debt securities 102.5 Discounted cash flow Discount rate 5.0%–50.0% (11.4%) Risk premium 0.0%–25.0% (8.2%) 11.9 Market pricing Private sale pricing $57 per $100 of par (in millions) as of September 30, 2016 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Equity securities $ 113.1 Market comparable companies EBITDA multiple 5.0–14.2 (10.3) Discount for lack of marketability 25.0%–50.0% (36.6%) 24.3 Discounted cash flow Discount rate 5.0%–19.0% (13.7%) 22.9 Market pricing Price to book value ratio 1.8–2.3 (2.0) Debt securities 119.7 Discounted cash flow Discount rate 6.0%–15.0% (10.4%) Risk premium 0.0%–28.0% (9.7%) EBITDA multiple 5.5 12.6 Market pricing Private sale pricing $57 per $100 of par Following are descriptions of the sensitivity of the Level 3 recurring fair value measurements to changes in the significant unobservable inputs presented in the above tables. For securities utilizing the market comparable companies valuation technique, a significant increase (decrease) in the EBITDA multiple in isolation would result in a significantly higher (lower) fair value measurement. A significant increase (decrease) in the discount for lack of marketability in isolation would result in a significantly lower (higher) fair value measurement. The discount for lack of marketability used to determine fair value may include other factors such as liquidity or credit risk. For securities utilizing the discounted cash flow valuation technique, a significant increase (decrease) in the discount rate or risk premium in isolation would result in a significantly lower (higher) fair value measurement. Generally, a change in the discount rate is accompanied by a directionally similar change in the risk premium. A significant increase (decrease) in the EBITDA multiple in isolation would result in a significantly higher (lower) fair value measurement. For securities utilizing a market pricing valuation technique, a significant increase (decrease) in the price to earnings ratio, private sale pricing or price to book value ratio would result in a significantly higher (lower) fair value measurement. Financial instruments of consolidated SIPs that were not measured at fair value were as follows: (in millions) Fair Value Level March 31, 2017 September 30, 2016 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 277.6 $ 277.6 $ 89.8 $ 89.8 Financial Liabilities Debt of CLOs 1 2 or 3 251.8 240.5 607.2 594.5 Other debt 3 54.3 54.2 75.0 74.6 _________________ 1 Substantially all is Level 2. Debt Debt of consolidated SIPs consisted of the following: March 31, 2017 September 30, 2016 (in millions) Amount Effective Interest Rate Amount Effective Interest Rate Debt of CLOs $ 251.8 3.41% $ 607.2 2.24% Other debt 54.3 5.59% 75.0 4.79% Total $ 306.1 $ 682.2 The debt of CLOs had floating interest rates ranging from 2.48% to 10.46% at March 31, 2017 , and from 1.02% to 10.16% at September 30, 2016 . The debt matures in fiscal year 2024 at March 31, 2017 , and from fiscal years 2018 to 2024 at September 30, 2016 . The other debt had fixed and floating interest rates ranging from 2.36% to 6.38% at March 31, 2017 , and from 2.36% to 6.19% at September 30, 2016 . The debt maturities ranged from fiscal years 2017 to 2019 at both March 31, 2017 and September 30, 2016 . At March 31, 2017 , maturities for debt of consolidated SIPs were as follows: (in millions) Carrying Amount for the fiscal years ending September 30, 2017 $ 21.2 2018 5.2 2019 27.9 2020 — 2021 — Thereafter 251.8 Total $ 306.1 The debt of the CLO consolidated at March 31, 2017 will be repaid as part of the liquidation of the CLO. Redeemable Noncontrolling Interests Changes in redeemable noncontrolling interests of consolidated SIPs were as follows: (in millions) for the six months ended March 31, 2017 2016 Balance at beginning of period $ 61.1 $ 59.6 Adoption of new accounting guidance 824.7 — Net loss (3.2 ) (0.5 ) Net subscriptions and other 349.2 68.6 Net consolidations (deconsolidations) 428.0 (90.9 ) Balance at End of Period $ 1,659.8 $ 36.8 Collateralized Loan Obligations The Company recognized $0.9 million of net losses and $0.2 million of net gains during the three and six months ended March 31, 2017 , and $0.7 million and $0.8 million of net gains during the three and six months ended March 31, 2016 related to its own economic interests in the CLOs. The unpaid principal balance and fair value of the investments of the CLOs were as follows: (in millions) March 31, September 30, Unpaid principal balance $ 0.7 $ 496.0 Difference between unpaid principal balance and fair value 0.2 (8.2 ) Fair Value $ 0.9 $ 487.8 There were no investments 90 days or more past due at March 31, 2017 or September 30, 2016 . The unpaid principal balance of the debt of the CLOs was $237.2 million and $653.8 million at March 31, 2017 and September 30, 2016 .

Nonconsolidated Variable Intere

Nonconsolidated Variable Interest Entities	6 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nonconsolidated Variable Interest Entities	Nonconsolidated Variable Interest Entities VIEs for which the Company is not the primary beneficiary consist of SIPs and other investment products in which the Company has an equity ownership interest. The Company’s maximum exposure to loss from these VIEs consists of equity investments and investment management fee receivables as follows: (in millions) March 31, September 30, Investments $ 164.5 $ 77.3 Receivables 102.9 21.4 Total $ 267.4 $ 98.7 While the Company has no contractual obligation to do so, it routinely makes cash investments in the course of launching SIPs. The Company also may voluntarily elect to provide its SIPs with additional direct or indirect financial support based on its business objectives. The Company did not provide financial or other support to its SIPs during the six months ended March 31, 2017 . During the six months ended March 31, 2016 , the Company purchased $182.7 million of certain debt securities from six SIPs domiciled in India in order to provide additional liquidity to the SIPs.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings On July 28, 2016, a putative class action lawsuit captioned Cryer v. Franklin Resources, Inc., et al. was filed in the United States District Court for the Northern District of California against Franklin, the Franklin Templeton 401(k) Retirement Plan (“Plan”) Investment Committee, and unnamed Investment Committee members. The plaintiff asserts a claim for breach of fiduciary duty under the Employee Retirement Income Security Act, alleging that the defendants selected mutual funds sponsored and managed by the Company (the “Funds”) as investment options for the Plan when allegedly lower-cost and better performing non-proprietary investment vehicles were available. The plaintiff also claims that the total Plan costs, inclusive of investment management and administrative fees, are excessive. The plaintiff alleges that Plan losses exceed $79.0 million and seeks, among other things, damages, disgorgement, rescission of the Plan’s investments in the Funds, attorneys’ fees and costs, and pre- and post-judgment interest. Franklin’s motion to dismiss and motion for summary adjudication were denied on January 17, 2017. Management strongly believes that the claims made in the lawsuit are without merit and intends to defend against them vigorously. This matter is in the early stage of litigation and Franklin cannot currently predict the eventual outcome of the lawsuit or whether it will have a material negative impact on the Company, or reasonably estimate the possible loss or range of loss that may arise from any negative outcome. The Company is from time to time involved in other litigation relating to claims arising in the normal course of business. Management is of the opinion that the ultimate resolution of such claims will not materially affect the Company’s business, financial position, results of operations or liquidity. In management’s opinion, an adequate accrual has been made as of March 31, 2017 to provide for any probable losses that may arise from such matters for which the Company could reasonably estimate an amount. Other Commitments and Contingencies At March 31, 2017 , there were no material changes in the other commitments and contingencies as reported in the Company’s Form 10-K for fiscal year 2016 .

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Mar. 31, 2017
Share-based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock awards generally entitle holders to the right to sell the underlying shares of the Company’s common stock once the awards vest. Stock unit awards generally entitle holders to receive the underlying shares of common stock once the awards vest. Awards generally vest based on the passage of time or the achievement of predetermined Company financial performance goals. In the event a performance measure is not achieved at or above a specified threshold level, the portion of the award tied to such performance measure is forfeited. Stock and stock unit award activity was as follows: (shares in thousands) Time-Based Shares Performance- Based Shares Total Shares Weighted-Average Grant-Date Fair Value for the six months ended March 31, 2017 Nonvested balance at October 1, 2016 2,369 1,288 3,657 $ 45.67 Granted 2,706 1,110 3,816 34.13 Vested (36 ) (355 ) (391 ) 49.50 Forfeited/canceled (165 ) (277 ) (442 ) 43.71 Nonvested Balance at March 31, 2017 4,874 1,766 6,640 $ 38.94 Total unrecognized compensation expense related to nonvested stock and stock unit awards, net of estimated forfeitures, was $175.2 million at March 31, 2017 . This expense is expected to be recognized over a remaining weighted-average vesting period of 1.8 years .

Other Income (Expenses)

Other Income (Expenses)	6 Months Ended
	Mar. 31, 2017
Other Income and Expenses [Abstract]
Other Income (Expenses)	Other Income (Expenses) Other income (expenses) consisted of the following: Three Months Ended Six Months Ended (in millions) 2017 2016 2017 2016 Investment and Other Income, Net Dividend income $ 2.7 $ 6.4 $ 5.1 $ 9.2 Interest income 16.0 7.1 29.6 10.7 Gains on trading investment securities, net 8.4 21.7 10.4 14.4 Realized gains on sale of investment securities, available-for-sale 2.3 19.5 2.9 27.3 Realized losses on sale of investment securities, available-for-sale (0.5 ) (1.0 ) (1.2 ) (1.8 ) Income (losses) from investments in equity method investees 36.3 (16.6 ) 70.5 8.2 Other-than-temporary impairment of investments — (4.4 ) (0.3 ) (4.8 ) Gains (losses) on investments of consolidated SIPs, net 22.7 (6.4 ) (7.2 ) (12.1 ) Foreign currency exchange gains (losses), net (6.2 ) (13.2 ) 13.6 (9.7 ) Other, net 2.9 4.3 7.3 6.5 Total 84.6 17.4 130.7 47.9 Interest Expense (12.6 ) (12.2 ) (25.9 ) (24.2 ) Other Income, Net $ 72.0 $ 5.2 $ 104.8 $ 23.7 Substantially all of the Company’s dividend income and realized gains and losses on sale of available-for-sale securities were generated by investments in its nonconsolidated SIPs. Interest income was primarily generated by trading investment securities and cash equivalents. Proceeds from the sale of available-for-sale securities were $17.2 million and $25.8 million for the three and six months ended March 31, 2017 , and $119.4 million and $226.0 million for the three and six months ended March 31, 2016 . Net gains recognized on the Company’s trading investment securities that were held at March 31, 2017 and 2016 were $1.2 million and $1.4 million for the three and six months ended March 31, 2017 , and $15.9 million and $10.2 million for the three and six months ended March 31, 2016 . Net gains recognized on trading investment securities of consolidated SIPs that were held at March 31, 2017 and 2016 were $27.0 million and $8.4 million for the three and six months ended March 31, 2017 and $1.5 million and $1.9 million for the three and six months ended March 31, 2016 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) by component were as follows: (in millions) Unrealized Currency Translation Adjustments Unrealized Losses on Defined Benefit Plans Total for the three months ended March 31, 2017 Balance at January 1, 2017 $ (2.4 ) $ (407.3 ) $ (8.1 ) $ (417.8 ) Other comprehensive income: Other comprehensive income before reclassifications, net of tax 6.6 39.2 — 45.8 Reclassifications to net investment and other income, net of tax (1.2 ) — — (1.2 ) Total other comprehensive income 5.4 39.2 — 44.6 Balance at March 31, 2017 $ 3.0 $ (368.1 ) $ (8.1 ) $ (373.2 ) (in millions) Unrealized Currency Translation Adjustments Unrealized Losses on Defined Benefit Plans Total for the six months ended March 31, 2017 Balance at October 1, 2016 $ 6.8 $ (346.1 ) $ (8.1 ) $ (347.4 ) Adoption of new accounting guidance (6.8 ) (0.3 ) — (7.1 ) Other comprehensive income (loss): Other comprehensive income (loss) before reclassifications, net of tax 4.0 (21.7 ) — (17.7 ) Reclassifications to net investment and other income, net of tax (1.0 ) — — (1.0 ) Total other comprehensive income (loss) 3.0 (21.7 ) — (18.7 ) Balance at March 31, 2017 $ 3.0 $ (368.1 ) $ (8.1 ) $ (373.2 ) (in millions) Unrealized Currency Translation Adjustments Unrealized Losses on Defined Benefit Plans Total for the three months ended March 31, 2016 Balance at January 1, 2016 $ 13.4 $ (351.4 ) $ (5.1 ) $ (343.1 ) Other comprehensive income (loss): Other comprehensive income before reclassifications, net of tax 1.7 31.7 — 33.4 Reclassifications to net investment and other income, net of tax (8.1 ) — — (8.1 ) Total other comprehensive income (loss) (6.4 ) 31.7 — 25.3 Balance at March 31, 2016 $ 7.0 $ (319.7 ) $ (5.1 ) $ (317.8 ) (in millions) Unrealized Currency Translation Adjustments Unrealized Losses on Defined Benefit Plans Total for the six months ended March 31, 2016 Balance at October 1, 2015 $ 19.3 $ (327.8 ) $ (5.7 ) $ (314.2 ) Other comprehensive income (loss): Other comprehensive income before reclassifications, net of tax 2.5 8.1 0.6 11.2 Reclassifications to net investment and other income, net of tax (14.8 ) — — (14.8 ) Total other comprehensive income (loss) (12.3 ) 8.1 0.6 (3.6 ) Balance at March 31, 2016 $ 7.0 $ (319.7 ) $ (5.1 ) $ (317.8 )

Fair Value Measurements Account

Fair Value Measurements Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Fair Value Measurements	The fair values of all SIPs and certain other equity securities are determined based on their published net asset values and they are classified as Level 1. The fair values of certain debt and other equity securities are determined using quoted market prices, if available, or independent third-party broker or dealer price quotes, which are evaluated for reasonableness, and they are classified as Level 2. The fair values of other debt securities and all life settlement contracts are determined using discounted cash flow valuation techniques, except for the fair value of certain debt securities which was determined using market pricing as of March 31, 2017 ; both techniques use significant unobservable inputs and the assets are classified as Level 3. The fair value of contingent consideration liabilities, which are classified as Level 3, is determined using an income-based method which considers the net present value of anticipated future cash flows.
Consolidation	The Company consolidates SIPs, which consist of both VOEs and VIEs, when it has a controlling financial interest. The Company has a controlling financial interest when it owns a majority of the voting interest in a VOE or when it is the primary beneficiary of a VIE. A VIE is an entity in which the equity investment holders have not contributed sufficient capital to finance its activities or they do not have defined rights and obligations normally associated with an equity investment. The Company ’ s VIEs are all investment entities, and its variable interests consist of its equity ownership interest in and certain investment management fees earned from these entities. The Company adopted new accounting guidance on October 1, 2016 that modifies the consolidation framework for certain investment entities and all limited partnerships. As a result of the modifications, certain SIPs changed from VOEs to VIEs and became subject to a lower threshold for consolidation. Additionally, there is now a single model to determine whether the Company is the primary beneficiary of a VIE. The Company is the primary beneficiary if it has the power to direct the activities that most significantly impact the VIE ’ s economic performance and the obligation to absorb losses of or right to receive benefits from the VIE that could potentially be significant to the VIE. Investment management fees earned from VIEs are excluded from the primary beneficiary determination if they are deemed to be at market and commensurate with service. The key estimates and assumptions used in the analyses include the amount of assets under management (“AUM”), investment management fee rates, the life of the investment product, prepayment rates and the discount rate. The new guidance did not change the consolidation framework for VOEs. Consolidated SIPs consist of mutual and other investment funds, limited partnerships and similar structures and CLOs, which are asset-backed financing entities collateralized by a pool of corporate debt securities. The Company consolidated 63 SIPs, including one CLO, as of March 31, 2017 and 40 SIPs, including three CLOs, as of September 30, 2016 . The CLO consolidated as of March 31, 2017 is in the process of liquidation, which is expected to be completed by September 30, 2017. Amounts for prior periods have been reclassified to combine amounts previously presented separately as consolidated SIPs and consolidated VIEs.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Changes in total stockholders' equity	Changes in total stockholders’ equity were as follows: (in millions) Franklin Resources, Inc. Stockholders’ Equity Nonredeemable Noncontrolling Interests Total Stockholders’ Equity for the six months ended March 31, 2017 Balance at October 1, 2016 $ 11,935.8 $ 592.4 $ 12,528.2 Adoption of new accounting guidance (1.3 ) (324.6 ) (325.9 ) Net income (loss) 860.9 (3.9 ) 857.0 Other comprehensive loss (18.7 ) (18.7 ) Cash dividends declared on common stock (226.3 ) (226.3 ) Repurchase of common stock (428.5 ) (428.5 ) Net subscriptions and other 15.7 15.7 Stock-based compensation 71.7 71.7 Balance at March 31, 2017 $ 12,193.6 $ 279.6 $ 12,473.2 (in millions) Franklin Resources, Inc. Stockholders’ Equity Nonredeemable Noncontrolling Interests Total Stockholders’ Equity for the six months ended March 31, 2016 Balance at October 1, 2015 $ 11,841.0 $ 654.8 $ 12,495.8 Net income 808.2 15.5 823.7 Other comprehensive loss (3.6 ) (3.6 ) Cash dividends declared on common stock (213.3 ) (213.3 ) Repurchase of common stock (741.4 ) (741.4 ) Net distributions and other (37.0 ) (37.0 ) Stock-based compensation 79.5 79.5 Balance at March 31, 2016 $ 11,770.4 $ 633.3 $ 12,403.7

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Components of basic and diluted earnings per share	The components of basic and diluted earnings per share were as follows: (in millions, except per share data) Three Months Ended Six Months Ended 2017 2016 2017 2016 Net income attributable to Franklin Resources, Inc. $ 420.7 $ 360.4 $ 860.9 $ 808.2 Less: allocation of earnings to participating nonvested stock and stock unit awards 3.5 2.7 6.4 5.4 Net Income Available to Common Stockholders $ 417.2 $ 357.7 $ 854.5 $ 802.8 Weighted-average shares outstanding – basic 560.3 587.0 562.7 592.4 Dilutive effect of nonparticipating nonvested stock unit awards 0.3 0.1 0.2 — Weighted-Average Shares Outstanding – Diluted 560.6 587.1 562.9 592.4 Earnings per Share Basic $ 0.74 $ 0.61 $ 1.52 $ 1.36 Diluted 0.74 0.61 1.52 1.36

Investments (Tables)

Investments (Tables)	6 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Summary of investments	Investments consisted of the following: (in millions) March 31, September 30, Investment securities, trading SIPs $ 85.8 $ 844.4 Debt and other equity securities 287.3 277.5 Total investment securities, trading 373.1 1,121.9 Investment securities, available-for-sale SIPs 80.8 297.7 Debt and other equity securities 2.9 3.7 Total investment securities, available-for-sale 83.7 301.4 Investments in equity method investees 859.8 797.4 Other investments 111.1 195.9 Total $ 1,427.7 $ 2,416.6
Summary of the gross unrealized gains and losses relating to investment securities, available-for-sale	Gross unrealized gains and losses relating to investment securities, available-for-sale were as follows: (in millions) Gross Unrealized Cost Basis Gains Losses Fair Value as of March 31, 2017 SIPs $ 78.0 $ 7.2 $ (4.4 ) $ 80.8 Debt and other equity securities 1.7 1.2 — 2.9 Total $ 79.7 $ 8.4 $ (4.4 ) $ 83.7 as of September 30, 2016 SIPs $ 289.6 $ 13.7 $ (5.6 ) $ 297.7 Debt and other equity securities 3.6 0.1 — 3.7 Total $ 293.2 $ 13.8 $ (5.6 ) $ 301.4
Summary of gross unrealized losses and fair values of investment securities in a continuous unrealized loss position	Gross unrealized losses relating to investment securities, available-for-sale aggregated by length of time that individual securities have been in a continuous unrealized loss position were as follows: Less Than 12 Months 12 Months or Greater Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses as of March 31, 2017 SIPs $ 7.3 $ (3.9 ) $ 4.7 $ (0.5 ) $ 12.0 $ (4.4 ) as of September 30, 2016 SIPs 75.8 (4.3 ) 18.0 (1.3 ) 93.8 (5.6 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	The assets and liabilities measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 Total as of March 31, 2017 Assets Investment securities, trading SIPs $ 85.8 $ — $ — $ 85.8 Debt and other equity securities 6.0 83.7 197.6 287.3 Investment securities, available-for-sale SIPs 80.8 — — 80.8 Debt and other equity securities 2.0 0.6 0.3 2.9 Life settlement contracts — — 13.1 13.1 Total Assets Measured at Fair Value $ 174.6 $ 84.3 $ 211.0 $ 469.9 Liabilities Contingent consideration liabilities $ — $ — $ 60.4 $ 60.4 (in millions) Level 1 Level 2 Level 3 Total as of September 30, 2016 Assets Investment securities, trading SIPs $ 844.4 $ — $ — $ 844.4 Debt and other equity securities 2.6 84.1 190.8 277.5 Investment securities, available-for-sale SIPs 297.7 — — 297.7 Debt and other equity securities 1.6 2.1 — 3.7 Life settlement contracts — — 14.3 14.3 Total Assets Measured at Fair Value $ 1,146.3 $ 86.2 $ 205.1 $ 1,437.6 Liability Contingent consideration liability $ — $ — $ 98.1 $ 98.1
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis	Changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows: 2017 2016 (in millions) Investments Contingent Investments Contingent for the three months ended March 31, Balance at beginning of period $ 198.7 $ (83.7 ) $ 23.8 $ (115.8 ) Acquisition — (5.7 ) — — Total realized and unrealized gains (losses) Included in investment and other income, net 5.0 — 0.9 — Included in general, administrative and other expense — (4.2 ) — 19.6 Purchases 0.3 — 183.2 — Settlements (0.8 ) 33.2 (0.9 ) — Transfers out of Level 3 (0.4 ) — — — Foreign exchange revaluation 8.2 — 4.1 — Balance at End of Period $ 211.0 $ (60.4 ) $ 211.1 $ (96.2 ) Change in unrealized gains (losses) included in net income relating to assets and liabilities held at end of period $ 4.4 $ (4.2 ) $ 0.3 $ 19.6 2017 2016 (in millions) Investments Contingent Investments Contingent for the six months ended March 31, Balance at beginning of period $ 205.1 $ (98.1 ) $ 20.7 $ (102.9 ) Acquisition — (5.7 ) — — Total realized and unrealized gains Included in investment and other income, net 5.6 — 1.5 — Included in general, administrative and other expense — 8.0 — 3.4 Purchases 0.8 — 186.5 — Sales (2.4 ) — — — Settlements (2.5 ) 35.4 (1.7 ) 3.3 Transfers out of Level 3 (0.4 ) — — — Foreign exchange revaluation 4.8 — 4.1 — Balance at End of Period $ 211.0 $ (60.4 ) $ 211.1 $ (96.2 ) Change in unrealized gains included in net income relating to assets and liabilities held at end of period $ 4.2 $ 8.0 $ 0.5 $ 3.4
Schedule of valuation techniques and significant unobservable inputs used in level 3 fair value measurements	Valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements were as follows: (in millions) as of March 31, 2017 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Investment securities, trading – debt and other equity securities $ 190.8 Market pricing Indicative bid $70.7 per $100 of par 6.8 Discounted cash flow Discount rate 6.5%–6.7% (6.6%) Risk premium 2.0%–2.5% (2.2%) Life settlement contracts 13.1 Discounted cash flow Life expectancy 21–127 months (64) Discount rate 8.0%–20.0% (13.1%) Contingent consideration liabilities 60.4 Discounted cash flow AUM growth rate (1.8%)–2.5% (0.3%) EBITDA margin 8.5%–8.8% (8.6%) Discount rate 13.3% (in millions) as of September 30, 2016 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Investment securities, trading – debt and other equity securities $ 190.8 Discounted cash flow Discount rate 3.6%–6.9% (6.7%) Risk premium 2.0%–17.9% (16.5%) Liquidity discount 0.0%–10.0% (9.6%) Life settlement contracts 14.3 Discounted cash flow Life expectancy 20–132 months (65) Discount rate 3.3%–18.0% (11.5%) Contingent consideration liability 98.1 Discounted cash flow AUM growth rate 2.4%–11.5% (5.9%) EBITDA margin 14.3% Discount rate 13.2%
Schedule of financial instruments not measured at fair value	Financial instruments that were not measured at fair value were as follows: (in millions) March 31, 2017 September 30, 2016 Fair Value Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 8,287.6 $ 8,287.6 $ 8,247.1 $ 8,247.1 Other investments Time deposits 2 51.0 51.0 131.6 131.6 Cost method investments 3 47.0 63.2 50.0 61.3 Financial Liabilities Debt Senior notes 2 1,343.3 1,364.8 1,348.5 1,412.5 Loan 2 30.8 30.8 52.7 52.7

Consolidated Sponsored Invest24

Consolidated Sponsored Investment Products (Tables)	6 Months Ended
	Mar. 31, 2017
Consolidated Sponsored Investment Products [Abstract]
Schedule of balances of CSIPs	The balances of consolidated SIPs included in the Company’s condensed consolidated balance sheets were as follows: (in millions) March 31, September 30, 2016 Assets Cash and cash equivalents $ 488.5 $ 236.2 Receivables 273.7 47.9 Investments, at fair value 3,108.2 1,513.4 Other assets 0.9 1.4 Total Assets $ 3,871.3 $ 1,798.9 Liabilities Accounts payable and accrued expenses $ 117.8 $ 65.2 Debt 306.1 682.2 Other liabilities 11.5 8.5 Total liabilities 435.4 755.9 Redeemable Noncontrolling Interests 1,659.8 61.1 Stockholders ’ Equity Franklin Resources, Inc.’s interests 1,521.6 414.1 Nonredeemable noncontrolling interests 254.5 567.8 Total stockholders’ equity 1,776.1 981.9 Total Liabilities, Redeemable Noncontrolling Interests and Stockholders ’ Equity $ 3,871.3 $ 1,798.9
Schedule of investments of CSIPs	Investments of consolidated SIPs consisted of the following: (in millions) March 31, September 30, Investment securities, trading $ 2,705.1 $ 287.8 Other debt securities 115.1 618.3 Other equity securities 288.0 607.3 Total $ 3,108.2 $ 1,513.4
Schedule of investments in fund products for which fair value was estimated using NAV as a practical expedient	Investments in fund products for which fair value was estimated using reported net asset value (“NAV”) as a practical expedient were as follows: (in millions) Redemption Frequency March 31, September 30, Real estate and private equity funds Nonredeemable $ 147.0 $ 444.2 Hedge funds Monthly, quarterly or triennially — 1.8 Total $ 147.0 $ 446.0
Schedule of assets and liabilities measured at fair value on a recurring basis	Assets and liabilities of consolidated SIPs measured at fair value on a recurring basis were as follows: (in millions) Level 1 Level 2 Level 3 NAV as a Practical Expedient Total as of March 31, 2017 Assets Cash and cash equivalents of CLO $ 210.9 $ — $ — $ — $ 210.9 Receivables of CLO — 43.7 — — 43.7 Investments Equity securities 301.0 101.9 140.7 147.0 690.6 Debt securities 4.7 2,298.5 114.4 — 2,417.6 Total Assets Measured at Fair Value $ 516.6 $ 2,444.1 $ 255.1 $ 147.0 $ 3,362.8 Liabilities Other liabilities $ 0.5 $ 11.0 $ — $ — $ 11.5 (in millions) Level 1 Level 2 Level 3 NAV as a Practical Expedient Total as of September 30, 2016 Assets Cash and cash equivalents of CLOs $ 146.4 $ — $ — $ — $ 146.4 Receivables of CLOs — 23.6 — — 23.6 Investments Equity securities 155.4 0.5 160.3 446.0 762.2 Debt securities — 618.9 132.3 — 751.2 Total Assets Measured at Fair Value $ 301.8 $ 643.0 $ 292.6 $ 446.0 $ 1,683.4 Liabilities Other liabilities $ 0.1 $ 8.4 $ — $ — $ 8.5
Schedule of changes in Level 3 assets and liabilities of CSIPs on a recurring basis	Changes in Level 3 assets measured at fair value on a recurring basis were as follows: 2017 2016 (in millions) Equity Debt Total Equity Debt Total for the three months ended March 31, Balance at beginning of period $ 131.6 $ 124.4 $ 256.0 $ 188.1 $ 123.9 $ 312.0 Realized and unrealized gains (losses) included in investment and other income, net 4.2 (14.2 ) (10.0 ) 6.1 (3.0 ) 3.1 Purchases 4.5 5.6 10.1 0.3 7.0 7.3 Sales — (1.9 ) (1.9 ) (30.1 ) (4.5 ) (34.6 ) Foreign exchange revaluation 0.4 0.5 0.9 2.4 2.0 4.4 Balance at End of Period $ 140.7 $ 114.4 $ 255.1 $ 166.8 $ 125.4 $ 292.2 Change in unrealized gains (losses) included in net income relating to assets held at end of period $ 4.2 $ (14.3 ) $ (10.1 ) $ 4.4 $ (3.3 ) $ 1.1 2017 2016 (in millions) Equity Debt Total Equity Debt Total for the six months ended March 31, Balance at beginning of period $ 160.3 $ 132.3 $ 292.6 $ 191.6 $ 130.2 $ 321.8 Adoption of new accounting guidance (45.4 ) (0.5 ) (45.9 ) — — — Realized and unrealized gains (losses) included in investment and other income, net 0.9 (14.5 ) (13.6 ) 5.0 (1.9 ) 3.1 Purchases 25.5 7.8 33.3 0.3 9.5 9.8 Sales (0.1 ) (8.3 ) (8.4 ) (30.1 ) (14.1 ) (44.2 ) Foreign exchange revaluation (0.5 ) (2.4 ) (2.9 ) — 1.7 1.7 Balance at End of Period $ 140.7 $ 114.4 $ 255.1 $ 166.8 $ 125.4 $ 292.2 Change in unrealized gains (losses) included in net income relating to assets held at end of period $ 0.8 $ (15.0 ) $ (14.2 ) $ 2.8 $ (2.9 ) $ (0.1 )
Schedule of valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements	Valuation techniques and significant unobservable inputs used in recurring Level 3 fair value measurements were as follows: (in millions) as of March 31, 2017 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Equity securities $ 93.8 Market comparable companies EBITDA multiple 6.0–12.3 (10.0) 32.0 Discounted cash flow Discount rate 5.7%–19.8% (14.8%) 14.9 Market pricing Price to earnings ratio 10.0 Debt securities 102.5 Discounted cash flow Discount rate 5.0%–50.0% (11.4%) Risk premium 0.0%–25.0% (8.2%) 11.9 Market pricing Private sale pricing $57 per $100 of par (in millions) as of September 30, 2016 Fair Value Valuation Technique Significant Unobservable Inputs Range (Weighted Average) Equity securities $ 113.1 Market comparable companies EBITDA multiple 5.0–14.2 (10.3) Discount for lack of marketability 25.0%–50.0% (36.6%) 24.3 Discounted cash flow Discount rate 5.0%–19.0% (13.7%) 22.9 Market pricing Price to book value ratio 1.8–2.3 (2.0) Debt securities 119.7 Discounted cash flow Discount rate 6.0%–15.0% (10.4%) Risk premium 0.0%–28.0% (9.7%) EBITDA multiple 5.5 12.6 Market pricing Private sale pricing $57 per $100 of par
Schedule of financial instruments of CSIPs not measured at fair value	Financial instruments of consolidated SIPs that were not measured at fair value were as follows: (in millions) Fair Value Level March 31, 2017 September 30, 2016 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Assets Cash and cash equivalents 1 $ 277.6 $ 277.6 $ 89.8 $ 89.8 Financial Liabilities Debt of CLOs 1 2 or 3 251.8 240.5 607.2 594.5 Other debt 3 54.3 54.2 75.0 74.6 _________________ 1 Substantially all is Level 2.
Schedule of debt	Debt of consolidated SIPs consisted of the following: March 31, 2017 September 30, 2016 (in millions) Amount Effective Interest Rate Amount Effective Interest Rate Debt of CLOs $ 251.8 3.41% $ 607.2 2.24% Other debt 54.3 5.59% 75.0 4.79% Total $ 306.1 $ 682.2
Schedule of contractual maturities for debt of CSIPs	At March 31, 2017 , maturities for debt of consolidated SIPs were as follows: (in millions) Carrying Amount for the fiscal years ending September 30, 2017 $ 21.2 2018 5.2 2019 27.9 2020 — 2021 — Thereafter 251.8 Total $ 306.1
Schedule of changes in redeemable noncontrolling interests of CSIPs	Changes in redeemable noncontrolling interests of consolidated SIPs were as follows: (in millions) for the six months ended March 31, 2017 2016 Balance at beginning of period $ 61.1 $ 59.6 Adoption of new accounting guidance 824.7 — Net loss (3.2 ) (0.5 ) Net subscriptions and other 349.2 68.6 Net consolidations (deconsolidations) 428.0 (90.9 ) Balance at End of Period $ 1,659.8 $ 36.8
Schedule of unpaid principal balance and fair value of investments and debt of CLOs	The unpaid principal balance and fair value of the investments of the CLOs were as follows: (in millions) March 31, September 30, Unpaid principal balance $ 0.7 $ 496.0 Difference between unpaid principal balance and fair value 0.2 (8.2 ) Fair Value $ 0.9 $ 487.8

Nonconsolidated Variable Inte25

Nonconsolidated Variable Interest Entities (Tables)	6 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of maximum exposure loss from nonconsolidated VIEs	The Company’s maximum exposure to loss from these VIEs consists of equity investments and investment management fee receivables as follows: (in millions) March 31, September 30, Investments $ 164.5 $ 77.3 Receivables 102.9 21.4 Total $ 267.4 $ 98.7

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Mar. 31, 2017
Share-based Compensation [Abstract]
Summary of nonvested stock and stock unit award activity	Stock and stock unit award activity was as follows: (shares in thousands) Time-Based Shares Performance- Based Shares Total Shares Weighted-Average Grant-Date Fair Value for the six months ended March 31, 2017 Nonvested balance at October 1, 2016 2,369 1,288 3,657 $ 45.67 Granted 2,706 1,110 3,816 34.13 Vested (36 ) (355 ) (391 ) 49.50 Forfeited/canceled (165 ) (277 ) (442 ) 43.71 Nonvested Balance at March 31, 2017 4,874 1,766 6,640 $ 38.94

Other Income (Expenses) (Tables

Other Income (Expenses) (Tables)	6 Months Ended
	Mar. 31, 2017
Other Income and Expenses [Abstract]
Schedule of other income (expenses)	Other income (expenses) consisted of the following: Three Months Ended Six Months Ended (in millions) 2017 2016 2017 2016 Investment and Other Income, Net Dividend income $ 2.7 $ 6.4 $ 5.1 $ 9.2 Interest income 16.0 7.1 29.6 10.7 Gains on trading investment securities, net 8.4 21.7 10.4 14.4 Realized gains on sale of investment securities, available-for-sale 2.3 19.5 2.9 27.3 Realized losses on sale of investment securities, available-for-sale (0.5 ) (1.0 ) (1.2 ) (1.8 ) Income (losses) from investments in equity method investees 36.3 (16.6 ) 70.5 8.2 Other-than-temporary impairment of investments — (4.4 ) (0.3 ) (4.8 ) Gains (losses) on investments of consolidated SIPs, net 22.7 (6.4 ) (7.2 ) (12.1 ) Foreign currency exchange gains (losses), net (6.2 ) (13.2 ) 13.6 (9.7 ) Other, net 2.9 4.3 7.3 6.5 Total 84.6 17.4 130.7 47.9 Interest Expense (12.6 ) (12.2 ) (25.9 ) (24.2 ) Other Income, Net $ 72.0 $ 5.2 $ 104.8 $ 23.7

Accumulated Other Comprehensi28

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Changes in accumulated other comprehensive income (loss) by component	Changes in accumulated other comprehensive income (loss) by component were as follows: (in millions) Unrealized Currency Translation Adjustments Unrealized Losses on Defined Benefit Plans Total for the three months ended March 31, 2017 Balance at January 1, 2017 $ (2.4 ) $ (407.3 ) $ (8.1 ) $ (417.8 ) Other comprehensive income: Other comprehensive income before reclassifications, net of tax 6.6 39.2 — 45.8 Reclassifications to net investment and other income, net of tax (1.2 ) — — (1.2 ) Total other comprehensive income 5.4 39.2 — 44.6 Balance at March 31, 2017 $ 3.0 $ (368.1 ) $ (8.1 ) $ (373.2 ) (in millions) Unrealized Currency Translation Adjustments Unrealized Losses on Defined Benefit Plans Total for the six months ended March 31, 2017 Balance at October 1, 2016 $ 6.8 $ (346.1 ) $ (8.1 ) $ (347.4 ) Adoption of new accounting guidance (6.8 ) (0.3 ) — (7.1 ) Other comprehensive income (loss): Other comprehensive income (loss) before reclassifications, net of tax 4.0 (21.7 ) — (17.7 ) Reclassifications to net investment and other income, net of tax (1.0 ) — — (1.0 ) Total other comprehensive income (loss) 3.0 (21.7 ) — (18.7 ) Balance at March 31, 2017 $ 3.0 $ (368.1 ) $ (8.1 ) $ (373.2 ) (in millions) Unrealized Currency Translation Adjustments Unrealized Losses on Defined Benefit Plans Total for the three months ended March 31, 2016 Balance at January 1, 2016 $ 13.4 $ (351.4 ) $ (5.1 ) $ (343.1 ) Other comprehensive income (loss): Other comprehensive income before reclassifications, net of tax 1.7 31.7 — 33.4 Reclassifications to net investment and other income, net of tax (8.1 ) — — (8.1 ) Total other comprehensive income (loss) (6.4 ) 31.7 — 25.3 Balance at March 31, 2016 $ 7.0 $ (319.7 ) $ (5.1 ) $ (317.8 ) (in millions) Unrealized Currency Translation Adjustments Unrealized Losses on Defined Benefit Plans Total for the six months ended March 31, 2016 Balance at October 1, 2015 $ 19.3 $ (327.8 ) $ (5.7 ) $ (314.2 ) Other comprehensive income (loss): Other comprehensive income before reclassifications, net of tax 2.5 8.1 0.6 11.2 Reclassifications to net investment and other income, net of tax (14.8 ) — — (14.8 ) Total other comprehensive income (loss) (12.3 ) 8.1 0.6 (3.6 ) Balance at March 31, 2016 $ 7.0 $ (319.7 ) $ (5.1 ) $ (317.8 )

New Accounting Guidance - Narra

New Accounting Guidance - Narrative (Details) $ in Millions	Mar. 31, 2017	Oct. 01, 2016USD ($)	Sep. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of consolidated sponsored investment products	63		40
Number of deconsolidated collateralized loan obligations (“CLOs”)	1		3
ASU 2015-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of consolidated sponsored investment products		24
Number of other SIPs that are consolidated VIEs		3
Number of deconsolidated collateralized loan obligations (“CLOs”)		2
Number of deconsolidated limited partnerships		5
Adoption of new accounting guidance		$ (325.9)
Liability [Member] | ASU 2015-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance		(317.9)
Redeemable noncontrolling interest [Member] | ASU 2015-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance		824.7
Retained earnings [Member] | ASU 2015-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance		5.8
Nonredeemable noncontrolling interests [Member] | ASU 2015-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance		(324.6)
Other equity [Member] | ASU 2015-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance		(7.1)
Assets [Member] | ASU 2015-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting guidance		$ 180.9

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Number of shares repurchased during period	4	9.6	11.1	20.1
Cost of shares repurchased during period	$ 166.8	$ 337.3	$ 428.5	$ 741.4
Remaining number of shares authorized to be repurchased	39.6		39.6

Stockholders' Equity - Changes

Stockholders' Equity - Changes in Stockholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Oct. 01, 2016
Stockholders' Equity Rollforward
Beginning balance - Franklin Resources, Inc. Stockholders' Equity			$ 11,935.8
Beginning balance - Nonredeemable Noncontrolling Interests			592.4
Beginning balance - Total Stockholders' Equity			12,528.2	$ 12,495.8
Net income attributable to Franklin Resources, Inc.	$ 420.7	$ 360.4	860.9	808.2
Nonredeemable noncontrolling interests	(6)	1.9	(3.9)	15.5
Net income (loss)			857	823.7
Other comprehensive loss	44.6	25.3	(18.7)	(3.6)
Cash dividends declared on common stock			(226.3)	(213.3)
Repurchase of common stock	(166.8)	(337.3)	(428.5)	(741.4)
Net subscriptions (distribution) and other			15.7	(37)
Stock-based compensation			71.7	79.5
Ending balance - Franklin Resources, Inc. Stockholders' Equity	12,193.6		12,193.6
Ending balance - Nonredeemable Noncontrolling Interests	279.6		279.6
Ending balance - Total Stockholders' Equity	12,473.2	12,403.7	12,473.2	12,403.7
ASU 2015-02 [Member]
Stockholders' Equity Rollforward
Adoption of new accounting guidance					$ (325.9)
Franklin Resources, Inc. Stockholders' Equity [Member]
Stockholders' Equity Rollforward
Beginning balance - Franklin Resources, Inc. Stockholders' Equity			11,935.8	11,841
Net income attributable to Franklin Resources, Inc.			860.9	808.2
Other comprehensive loss			(18.7)	(3.6)
Cash dividends declared on common stock			(226.3)	(213.3)
Repurchase of common stock			(428.5)	(741.4)
Stock-based compensation			71.7	79.5
Ending balance - Franklin Resources, Inc. Stockholders' Equity	12,193.6	11,770.4	12,193.6	11,770.4
Franklin Resources, Inc. Stockholders' Equity [Member] | ASU 2015-02 [Member]
Stockholders' Equity Rollforward
Adoption of new accounting guidance					(1.3)
Nonredeemable noncontrolling interests [Member]
Stockholders' Equity Rollforward
Beginning balance - Nonredeemable Noncontrolling Interests			592.4	654.8
Nonredeemable noncontrolling interests			(3.9)	15.5
Net subscriptions (distribution) and other			15.7	(37)
Ending balance - Nonredeemable Noncontrolling Interests	$ 279.6	$ 633.3	$ 279.6	$ 633.3
Nonredeemable noncontrolling interests [Member] | ASU 2015-02 [Member]
Stockholders' Equity Rollforward
Adoption of new accounting guidance					$ (324.6)

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Shares of nonparticipating nonvested stock unit awards excluded from the calculation of diluted EPS	0.2	1.3	0.7	1.3

Earnings per Share - Components

Earnings per Share - Components of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share Reconciliation [Abstract]
Net income attributable to Franklin Resources, Inc.	$ 420.7	$ 360.4	$ 860.9	$ 808.2
Less: allocation of earnings to participating nonvested stock and stock unit awards - basic	3.5	2.7	6.4	5.4
Less: allocation of earnings to participating nonvested stock and stock unit awards - diluted	3.5	2.7	6.4	5.4
Net Income Available to Common Stockholders - basic	417.2	357.7	854.5	802.8
Net Income Available to Common Stockholders - diluted	$ 417.2	$ 357.7	$ 854.5	$ 802.8
Weighted-average shares outstanding – basic	560.3	587	562.7	592.4
Dilutive effect of nonparticipating nonvested stock unit awards	0.3	0.1	0.2	0
Weighted-Average Shares Outstanding – Diluted	560.6	587.1	562.9	592.4
Earnings per Share [Abstract]
Basic	$ 0.74	$ 0.61	$ 1.52	$ 1.36
Diluted	$ 0.74	$ 0.61	$ 1.52	$ 1.36

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Investments [Abstract]
Aggregate carrying values of investment securities pledged as collateral	$ 38.8		$ 38.8		$ 117.3
Other-than-temporary impairment of investments	$ 0	$ 4.4	$ 0.3	$ 4.8
Investment Holdings [Line Items]
Other-than-temporary impairment of cost-method Investments		1.1		1.1
SIPs [Member]
Investment Holdings [Line Items]
Other-than-temporary impairment of available-for-sale SIPs		$ 3.3		$ 3.7

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Investment Holdings [Line Items]
Investment securities, trading	$ 373.1	$ 1,121.9
Investment securities, available-for-sale	83.7	301.4
Investments in equity method investees	859.8	797.4
Other investments	111.1	195.9
Total	1,427.7	2,416.6
SIPs [Member]
Investment Holdings [Line Items]
Investment securities, trading	85.8	844.4
Investment securities, available-for-sale	80.8	297.7
Debt and Other Equity Securities [Member]
Investment Holdings [Line Items]
Investment securities, trading	287.3	277.5
Investment securities, available-for-sale	$ 2.9	$ 3.7

Investments - Summary of Gross

Investments - Summary of Gross Unrealized Gains and Losses Relating to Investment Securities, Available-for-Sale (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Investment Holdings [Line Items]
Cost Basis	$ 79.7	$ 293.2
Gross Unrealized Gains	8.4	13.8
Gross Unrealized Losses	(4.4)	(5.6)
Fair Value	83.7	301.4
SIPs [Member]
Investment Holdings [Line Items]
Cost Basis	78	289.6
Gross Unrealized Gains	7.2	13.7
Gross Unrealized Losses	(4.4)	(5.6)
Fair Value	80.8	297.7
Debt and Other Equity Securities [Member]
Investment Holdings [Line Items]
Cost Basis	1.7	3.6
Gross Unrealized Gains	1.2	0.1
Gross Unrealized Losses	0	0
Fair Value	$ 2.9	$ 3.7

Investments - Summary of Gros37

Investments - Summary of Gross Unrealized Losses, AFS, Continuous Loss Position (Details) - SIPs [Member] - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	$ 7.3	$ 75.8
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Gross Unrealized Losses	(3.9)	(4.3)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Greater, Fair Value	4.7	18
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Greater, Gross Unrealized Losses	(0.5)	(1.3)
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Fair Value	12	93.8
Available-for-sale Securities, Continuous Unrealized Loss Position, Total Gross Unrealized Losses	$ (4.4)	$ (5.6)

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Transfers into Level 1 from Level 2 - assets	$ 0	$ 0	$ 0	$ 0
Transfers into Level 2 from Level 1 - assets	0	0	0	0
Transfers into Level 1 from Level 2 - liabilities	0	0	0	0
Transfers into Level 2 from Level 1 - liabilities	0	0	0	0
Transfers into Level 3 - assets	0	0	0	0
Transfers into Level 3 - liabilities	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Assets [Abstract]
Investment securities, trading	$ 373.1	$ 1,121.9
Investment securities, available-for-sale	83.7	301.4
Life settlement contracts	13.1	14.3
Total Assets Measured at Fair Value	469.9	1,437.6
Liability [Abstract]
Contingent consideration liabilities	60.4	98.1
Level 1 [Member]
Assets [Abstract]
Life settlement contracts	0	0
Total Assets Measured at Fair Value	174.6	1,146.3
Liability [Abstract]
Contingent consideration liabilities	0	0
Level 2 [Member]
Assets [Abstract]
Life settlement contracts	0	0
Total Assets Measured at Fair Value	84.3	86.2
Liability [Abstract]
Contingent consideration liabilities	0	0
Level 3 [Member]
Assets [Abstract]
Life settlement contracts	13.1	14.3
Total Assets Measured at Fair Value	211	205.1
Liability [Abstract]
Contingent consideration liabilities	60.4	98.1
SIPs [Member]
Assets [Abstract]
Investment securities, trading	85.8	844.4
Investment securities, available-for-sale	80.8	297.7
SIPs [Member] | Level 1 [Member]
Assets [Abstract]
Investment securities, trading	85.8	844.4
Investment securities, available-for-sale	80.8	297.7
SIPs [Member] | Level 2 [Member]
Assets [Abstract]
Investment securities, trading	0	0
Investment securities, available-for-sale	0	0
SIPs [Member] | Level 3 [Member]
Assets [Abstract]
Investment securities, trading	0	0
Investment securities, available-for-sale	0	0
Debt and Other Equity Securities [Member]
Assets [Abstract]
Investment securities, trading	287.3	277.5
Investment securities, available-for-sale	2.9	3.7
Debt and Other Equity Securities [Member] | Level 1 [Member]
Assets [Abstract]
Investment securities, trading	6	2.6
Investment securities, available-for-sale	2	1.6
Debt and Other Equity Securities [Member] | Level 2 [Member]
Assets [Abstract]
Investment securities, trading	83.7	84.1
Investment securities, available-for-sale	0.6	2.1
Debt and Other Equity Securities [Member] | Level 3 [Member]
Assets [Abstract]
Investment securities, trading	197.6	190.8
Investment securities, available-for-sale	$ 0.3	$ 0

Fair Value Measurements - Sch40

Fair Value Measurements - Schedule of Changes in Level 3 Assets and Liabilities (Details) - Level 3 [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - assets	$ 256	$ 312	$ 292.6	$ 321.8
Total realized and unrealized gains (losses) - assets	(10)	3.1	(13.6)	3.1
Purchases - assets	10.1	7.3	33.3	9.8
Sales - assets	(1.9)	(34.6)	(8.4)	(44.2)
Foreign exchange revaluation	0.9	4.4	(2.9)	1.7
Balance at End of Period - assets	255.1	292.2	255.1	292.2
Change in unrealized gains (losses) included in net income relating to assets and liabilities held at period end	(10.1)	1.1	(14.2)	(0.1)
Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - assets	198.7	23.8	205.1	20.7
Acquisition - assets	0	0	0	0
Purchases - assets	0.3	183.2	0.8	186.5
Sales - assets			(2.4)	0
Settlements - assets	(0.8)	(0.9)	(2.5)	(1.7)
Transfers out of Level 3 - assets	(0.4)	0	(0.4)	0
Foreign exchange revaluation	8.2	4.1	4.8	4.1
Balance at End of Period - assets	211	211.1	211	211.1
Change in unrealized gains (losses) included in net income relating to assets and liabilities held at period end	4.4	0.3	4.2	0.5
Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period - liabilities	(83.7)	(115.8)	(98.1)	(102.9)
Acquisition - liabilities	(5.7)	0	(5.7)	0
Purchases - liabilities	0	0	0	0
Sales - liabilities			0	0
Settlements - liabilities	33.2	0	35.4	3.3
Transfers out of Level 3 - liabilities	0	0	0	0
Foreign exchange revaluation	0	0	0	0
Balance at End of Period - liabilities	(60.4)	(96.2)	(60.4)	(96.2)
Change in unrealized gains (losses) included in net income relating to assets and liabilities held at period end	(4.2)	19.6	8	3.4
Investment and other income [Member] | Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	5	0.9	5.6	1.5
Investment and other income [Member] | Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - liabilities	0	0	0	0
General, administrative and other expense [Member] | Investments [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - assets	0	0	0	0
General, administrative and other expense [Member] | Contingent Consideration Liability [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Total realized and unrealized gains (losses) - liabilities	$ (4.2)	$ 19.6	$ 8	$ 3.4

Fair Value Measurements - Sch41

Fair Value Measurements - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Level 3 Fair Value Measurements (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Mar. 31, 2017	Sep. 30, 2016
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Investment securities, trading	$ 373.1	$ 1,121.9
Life settlement contracts	13.1	14.3
Contingent consideration liabilities	60.4	98.1
Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Life settlement contracts	13.1	14.3
Contingent consideration liabilities	60.4	98.1
Discounted cash flow [Member] | Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Life settlement contracts	13.1	14.3
Contingent consideration liabilities	$ 60.4	$ 98.1
Contingent Consideration Liability [Member] | Minimum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
AUM growth rate	(1.80%)	2.40%
EBITDA margin	8.50%
Contingent Consideration Liability [Member] | Maximum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
AUM growth rate	2.50%	11.50%
EBITDA margin	8.80%
Contingent Consideration Liability [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	13.30%	13.20%
AUM growth rate	0.30%	5.90%
EBITDA margin	8.60%	14.30%
Life Settlement Contracts [Member] | Minimum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	8.00%	3.30%
Life expectancy (in months)	21 months	20 months
Life Settlement Contracts [Member] | Maximum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	20.00%	18.00%
Life expectancy (in months)	127 months	132 months
Life Settlement Contracts [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	13.10%	11.50%
Life expectancy (in months)	64 months	65 months
Debt and Other Equity Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Investment securities, trading	$ 287.3	$ 277.5
Debt and Other Equity Securities [Member] | Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Investment securities, trading	197.6	190.8
Debt and Other Equity Securities [Member] | Discounted cash flow [Member] | Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Investment securities, trading	6.8	$ 190.8
Debt and Other Equity Securities [Member] | Market Pricing [Member] | Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Investment securities, trading	$ 190.8
Debt and Other Equity Securities [Member] | Minimum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	6.50%	3.60%
Risk premium	2.00%	2.00%
Liquidity discount		0.00%
Debt and Other Equity Securities [Member] | Maximum [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	6.70%	6.90%
Risk premium	2.50%	17.90%
Liquidity discount		10.00%
Debt and Other Equity Securities [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	6.60%	6.70%
Risk premium	2.20%	16.50%
Liquidity discount		9.60%
Debt and Other Equity Securities [Member] | Weighted Average [Member] | Market Pricing [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Indicative bid	$ 0.707

Fair Value Measurements - Sch42

Fair Value Measurements - Schedule of Financial Instruments not Measured at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 8,776.1	$ 8,483.3	$ 8,041	$ 8,368.1
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	8,287.6	8,247.1
Other investments	51	131.6
Cost method investments	47	50
Senior notes	1,343.3	1,348.5
Loan	30.8	52.7
Estimated Fair Value [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	8,287.6	8,247.1
Estimated Fair Value [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	51	131.6
Senior notes	1,364.8	1,412.5
Loan	30.8	52.7
Estimated Fair Value [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost method investments	$ 63.2	$ 61.3

Consolidated Sponsored Invest43

Consolidated Sponsored Investment Products - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Sep. 30, 2016USD ($)
Consolidated Sponsored Investment Products [Abstract]
Number of consolidated sponsored investment products	63		63		40
Number of CLOs	1		1		3
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Transfers into Level 2 from Level 1 - assets	$ 0	$ 0	$ 0	$ 0
Transfers into Level 2 from Level 1 - liabilities	0	0	0	0
Transfers into Level 1 from Level 2 - assets	0	0	0	0
Transfers into Level 1 from Level 2 - liabilities	0	0	0	0
Transfers into Level 3 - assets	0	0	0	0
Transfers into Level 3 - liabilities	0	0	0	0
Debt, unpaid principal balance	1,374.1		1,374.1		$ 1,401.2
Unfunded commitments company contractually obligated to fund	0.4		0.4		2.2
CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Net gains (losses) related to its own economic interests	(0.9)	0.7	0.2	0.8
Debt, unpaid principal balance	237.2		237.2		653.8
Consolidated SIPs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Consolidated SIPs' unfunded commitments	2		2		74.4
Transfers into Level 2 from Level 1 - assets	0	0	0	0
Transfers into Level 2 from Level 1 - liabilities	0	0	0	0
Transfers into Level 1 from Level 2 - assets	0	0	0	0
Transfers into Level 1 from Level 2 - liabilities	0	0	0	0
Transfers into Level 3 - assets	0	0	0	0
Transfers out of Level 3 - assets	0	0	0	0
Transfers into Level 3 - liabilities	0	0	0	0
Transfers out of Level 3 - liabilities	0	$ 0	0	$ 0
Debt, unpaid principal balance	306.1		306.1		682.2
Consolidated SIPs [Member] | CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Debt, unpaid principal balance	$ 251.8		$ 251.8		$ 607.2
Real Estate and Private Equity Funds [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Liquidation weighted average period			4 years 11 months		3 years 2 months
Minimum [Member] | CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Interest rate	2.48%		2.48%		1.02%
Minimum [Member] | Consolidated SIPs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Interest rate	2.36%		2.36%		2.36%
Maximum [Member] | CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Interest rate	10.46%		10.46%		10.16%
Maximum [Member] | Consolidated SIPs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Interest rate	6.38%		6.38%		6.19%

Consolidated Sponsored Invest44

Consolidated Sponsored Investment Products - Schedule of Balances of CSIPs (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
Assets [Abstract]
Cash and cash equivalents	$ 8,776.1	$ 8,483.3	$ 8,041	$ 8,368.1
Receivables	1,023.5	794.3
Investments, at fair value	469.9	1,437.6
Other assets	140.8	156.7
Total Assets	17,210.1	16,098.8
Liabilities [Abstract]
Accounts payable and accrued expenses	259.3	233.3
Debt	1,374.1	1,401.2
Other liabilities	293.7	267.3
Total liabilities	3,077.1	3,509.5
Redeemable Noncontrolling Interests	1,659.8	61.1	36.8	59.6
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	12,193.6	11,935.8
Nonredeemable noncontrolling interests	279.6	592.4
Total stockholders’ equity	12,473.2	12,528.2	$ 12,403.7	$ 12,495.8
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	17,210.1	16,098.8
Consolidated SIPs [Member]
Assets [Abstract]
Cash and cash equivalents	488.5	236.2
Receivables	273.7	47.9
Investments, at fair value	3,108.2	1,513.4
Other assets	0.9	1.4
Total Assets	3,871.3	1,798.9
Liabilities [Abstract]
Accounts payable and accrued expenses	117.8	65.2
Debt	306.1	682.2
Other liabilities	11.5	8.5
Total liabilities	435.4	755.9
Redeemable Noncontrolling Interests	1,659.8	61.1
Stockholders' Equity [Abstract]
Franklin Resources, Inc.’s interests	1,521.6	414.1
Nonredeemable noncontrolling interests	254.5	567.8
Total stockholders’ equity	1,776.1	981.9
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity	$ 3,871.3	$ 1,798.9

Consolidated Sponsored Invest45

Consolidated Sponsored Investment Products - Schedule of Investments of CSIPs (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Investment securities, trading	$ 373.1	$ 1,121.9
Fair value	469.9	1,437.6
Consolidated SIPs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Investment securities, trading	2,705.1	287.8
Other debt securities	115.1	618.3
Other equity securities	288	607.3
Fair value	$ 3,108.2	$ 1,513.4

Consolidated Sponsored Invest46

Consolidated Sponsored Investment Products - Schedule of Investments in Fund Products for which Fair Value was Estimated using NAV as a Practical Expedient (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments in funds products for which fair value was estimated using NAV	$ 147	$ 446
Real Estate and Private Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments in funds products for which fair value was estimated using NAV	147	444.2
Hedge Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Investments in funds products for which fair value was estimated using NAV	$ 0	$ 1.8

Consolidated Sponsored Invest47

Consolidated Sponsored Investment Products - Schedule of Balances of Assets and Liabilities of CSIPs Measured at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Total Assets Measured at Fair Value	$ 469.9	$ 1,437.6
NAV as a Practical Expedient	147	446
Level 1 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Total Assets Measured at Fair Value	174.6	1,146.3
Level 2 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Total Assets Measured at Fair Value	84.3	86.2
Level 3 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Total Assets Measured at Fair Value	211	205.1
Consolidated sponsored investment products [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	288	607.3
Debt securities	115.1	618.3
Fair Value, Measurements, Recurring [Member] | CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Cash and cash equivalents of CLO	210.9	146.4
Receivables of CLO	43.7	23.6
Fair Value, Measurements, Recurring [Member] | CLOs [Member] | Level 1 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Cash and cash equivalents of CLO	210.9	146.4
Receivables of CLO	0	0
Fair Value, Measurements, Recurring [Member] | CLOs [Member] | Level 2 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Cash and cash equivalents of CLO	0	0
Receivables of CLO	43.7	23.6
Fair Value, Measurements, Recurring [Member] | CLOs [Member] | Level 3 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Cash and cash equivalents of CLO	0	0
Receivables of CLO	0	0
Fair Value, Measurements, Recurring [Member] | Consolidated sponsored investment products [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	690.6	762.2
Debt securities	2,417.6	751.2
Total Assets Measured at Fair Value	3,362.8	1,683.4
Other liabilities	11.5	8.5
NAV as a Practical Expedient	147	446
Fair Value, Measurements, Recurring [Member] | Consolidated sponsored investment products [Member] | Level 1 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	301	155.4
Debt securities	4.7	0
Total Assets Measured at Fair Value	516.6	301.8
Other liabilities	0.5	0.1
Fair Value, Measurements, Recurring [Member] | Consolidated sponsored investment products [Member] | Level 2 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	101.9	0.5
Debt securities	2,298.5	618.9
Total Assets Measured at Fair Value	2,444.1	643
Other liabilities	11	8.4
Fair Value, Measurements, Recurring [Member] | Consolidated sponsored investment products [Member] | Level 3 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	140.7	160.3
Debt securities	114.4	132.3
Total Assets Measured at Fair Value	255.1	292.6
Other liabilities	0	0
Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Consolidated sponsored investment products [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
NAV as a Practical Expedient	$ 147	$ 446

Consolidated Sponsored Invest48

Consolidated Sponsored Investment Products - Schedule of Changes in Level 3 Assets and Liabilities of CSIPs (Details) - Level 3 [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Oct. 01, 2016
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Balance at beginning of period - assets	$ 256	$ 312	$ 292.6	$ 321.8
Realized and unrealized gains (losses) included in investment and other income, net - assets	(10)	3.1	(13.6)	3.1
Purchases - assets	10.1	7.3	33.3	9.8
Sales - assets	(1.9)	(34.6)	(8.4)	(44.2)
Foreign exchange revaluation	0.9	4.4	(2.9)	1.7
Balance at End of Period - assets	255.1	292.2	255.1	292.2
Change in unrealized gains (losses) included in net income relating to assets held at end of period	(10.1)	1.1	(14.2)	(0.1)
Equity Securities [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Balance at beginning of period - assets	131.6	188.1	160.3	191.6
Realized and unrealized gains (losses) included in investment and other income, net - assets	4.2	6.1	0.9	5
Purchases - assets	4.5	0.3	25.5	0.3
Sales - assets	0	(30.1)	(0.1)	(30.1)
Foreign exchange revaluation	0.4	2.4	(0.5)	0
Balance at End of Period - assets	140.7	166.8	140.7	166.8
Change in unrealized gains (losses) included in net income relating to assets held at end of period	4.2	4.4	0.8	2.8
Debt Securities [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Balance at beginning of period - assets	124.4	123.9	132.3	130.2
Realized and unrealized gains (losses) included in investment and other income, net - assets	(14.2)	(3)	(14.5)	(1.9)
Purchases - assets	5.6	7	7.8	9.5
Sales - assets	(1.9)	(4.5)	(8.3)	(14.1)
Foreign exchange revaluation	0.5	2	(2.4)	1.7
Balance at End of Period - assets	114.4	125.4	114.4	125.4
Change in unrealized gains (losses) included in net income relating to assets held at end of period	$ (14.3)	$ (3.3)	$ (15)	$ (2.9)
ASU 2015-02 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Adoption of new accounting guidance					$ (45.9)
ASU 2015-02 [Member] | Equity Securities [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Adoption of new accounting guidance					(45.4)
ASU 2015-02 [Member] | Debt Securities [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Adoption of new accounting guidance					$ (0.5)

Consolidated Sponsored Invest49

Consolidated Sponsored Investment Products - Schedule of Valuation Techniques and Significant Unobservable Inputs used in Recurring Level 3 Fair Value Measurements (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Mar. 31, 2017	Sep. 30, 2016
Equity Securities [Member] | Minimum [Member] | Market comparable companies [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
EBITDA multiple	6	5
Discount for lack of marketability		25.00%
Equity Securities [Member] | Minimum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Discount rate	5.70%	5.00%
Equity Securities [Member] | Minimum [Member] | Market Pricing [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Price to book value		$ 1.8
Equity Securities [Member] | Maximum [Member] | Market comparable companies [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
EBITDA multiple	12.3	14.2
Discount for lack of marketability		50.00%
Equity Securities [Member] | Maximum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Discount rate	19.80%	19.00%
Equity Securities [Member] | Maximum [Member] | Market Pricing [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Price to book value		$ 2.3
Equity Securities [Member] | Weighted Average [Member] | Market comparable companies [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
EBITDA multiple	10	10.3
Discount for lack of marketability		36.60%
Equity Securities [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Discount rate	14.80%	13.70%
Equity Securities [Member] | Weighted Average [Member] | Market Pricing [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Price to earnings ratio	$ 10
Price to book value		$ 2
Debt Securities [Member] | Minimum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Discount rate	5.00%	6.00%
Risk premium	0.00%	0.00%
Debt Securities [Member] | Maximum [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Discount rate	50.00%	15.00%
Risk premium	25.00%	28.00%
Debt Securities [Member] | Weighted Average [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
EBITDA multiple		5.5
Discount rate	11.40%	10.40%
Risk premium	8.20%	9.70%
Debt Securities [Member] | Weighted Average [Member] | Market Pricing [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Private sale pricing	$ 0.57	$ 0.57
Consolidated SIPs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	$ 288	$ 607.3
Debt securities	115.1	618.3
Consolidated SIPs [Member] | Level 3 [Member] | Market comparable companies [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	93.8	113.1
Consolidated SIPs [Member] | Level 3 [Member] | Discounted cash flow [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	32	24.3
Debt securities	102.5	119.7
Consolidated SIPs [Member] | Level 3 [Member] | Market Pricing [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	14.9	22.9
Debt securities	11.9	12.6
Fair Value, Measurements, Recurring [Member] | Consolidated SIPs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	690.6	762.2
Debt securities	2,417.6	751.2
Fair Value, Measurements, Recurring [Member] | Consolidated SIPs [Member] | Level 3 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Equity securities	140.7	160.3
Debt securities	$ 114.4	$ 132.3

Consolidated Sponsored Invest50

Consolidated Sponsored Investment Products - Schedule of Financial Instruments of CSIPs not Measured at Fair Value (Details) - USD ($) $ in Millions		Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Cash and cash equivalents		$ 8,776.1	$ 8,483.3	$ 8,041	$ 8,368.1
Debt		1,374.1	1,401.2
CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Debt		237.2	653.8
Consolidated sponsored investment products [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Cash and cash equivalents		488.5	236.2
Debt		306.1	682.2
Other debt		54.3	75
Consolidated sponsored investment products [Member] | CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Debt		251.8	607.2
Carrying Value [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Cash and cash equivalents		8,287.6	8,247.1
Carrying Value [Member] | Consolidated sponsored investment products [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Cash and cash equivalents		277.6	89.8
Other debt		54.3	75
Carrying Value [Member] | Consolidated sponsored investment products [Member] | CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Debt	[1]	251.8	607.2
Estimated Fair Value [Member] | Level 1 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Cash and cash equivalents		8,287.6	8,247.1
Estimated Fair Value [Member] | Consolidated sponsored investment products [Member] | Level 1 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Cash and cash equivalents		277.6	89.8
Estimated Fair Value [Member] | Consolidated sponsored investment products [Member] | Level 3 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Other debt		54.2	74.6
Estimated Fair Value [Member] | Consolidated sponsored investment products [Member] | Fair Value Inputs Level 2 and Level 3 [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Debt	[1]	$ 240.5	$ 594.5
[1]	Substantially all is Level 2.

Consolidated Sponsored Invest51

Consolidated Sponsored Investment Products - Schedule of Debt of CSIPs (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Debt	$ 1,374.1	$ 1,401.2
CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Debt	$ 237.2	$ 653.8
Consolidated sponsored investment products [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Effective Interest Rate	5.59%	4.79%
Other debt	$ 54.3	$ 75
Debt	$ 306.1	$ 682.2
Consolidated sponsored investment products [Member] | CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Effective Interest Rate	3.41%	2.24%
Debt	$ 251.8	$ 607.2

Consolidated Sponsored Invest52

Consolidated Sponsored Investment Products - Schedule of Contractual Maturities for Debt of CSIPs (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Debt	$ 1,374.1	$ 1,401.2
Consolidated SIPs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
2,017	21.2
2,018	5.2
2,019	27.9
2,020	0
2,021	0
Thereafter	251.8
Debt	$ 306.1	$ 682.2

Consolidated Sponsored Invest53

Consolidated Sponsored Investment Products - Schedule of Redeemable Noncontrolling Interest of CSIPs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Oct. 01, 2016
Temporary Equity [Line Items]
Balance at beginning of period			$ 61.1	$ 59.6
Net loss	$ 20.3	$ (1.5)	(3.2)	(0.5)
Net subscriptions and other			15.7	(37)
Balance at End of Period	$ 1,659.8	$ 36.8	1,659.8	36.8
Redeemable noncontrolling interest [Member]
Temporary Equity [Line Items]
Net subscriptions and other			349.2	68.6
Net consolidations (deconsolidations)			$ 428	$ (90.9)
ASU 2015-02 [Member]
Temporary Equity [Line Items]
Adoption of new accounting guidance					$ (325.9)
ASU 2015-02 [Member] | Redeemable noncontrolling interest [Member]
Temporary Equity [Line Items]
Adoption of new accounting guidance					$ 824.7

Consolidated Sponsored Invest54

Consolidated Sponsored Investment Products - Schedule of Unpaid Principal Balance and Fair Value of Investments and Debt of CLOs (Details) - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Unpaid principal balance	$ 1,427.7	$ 2,416.6
Investments, at fair value	469.9	1,437.6
CLOs [Member]
Schedule Of Consolidated Sponsored Investment Products [Line Items]
Unpaid principal balance	0.7	496
Difference between unpaid principal balance and fair value	0.2	(8.2)
Investments, at fair value	$ 0.9	$ 487.8

Nonconsolidated Variable Inte55

Nonconsolidated Variable Interest Entities - Narrative (Details) $ in Millions	6 Months Ended
	Mar. 31, 2016USD ($)
Debt Securities [Member]
Variable Interest Entity [Line Items]
Purchase of debt securities	$ 182.7
INDIA
Variable Interest Entity [Line Items]
Number of SIPs	6

Nonconsolidated Variable Inte56

Nonconsolidated Variable Interest Entities (Details) - Nonconsolidated VIEs [Member] - USD ($) $ in Millions	Mar. 31, 2017	Sep. 30, 2016
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 267.4	$ 98.7
Investments [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	164.5	77.3
Receivables [Member]
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 102.9	$ 21.4

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies - Narrative (Details) $ in Millions	6 Months Ended
	Mar. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
The plaintiff alleges that plan losses exceed	$ 79

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	6 Months Ended
	Mar. 31, 2017USD ($)
Share-based Compensation [Abstract]
Unrecognized compensation expense related to nonvested stock and stock unit awards, net of estimated forfeitures	$ 175.2
Remaining weighted-average vesting period	1 year 9 months

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) shares in Thousands	6 Months Ended
	Mar. 31, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2016	3,657
Granted	3,816
Vested	(391)
Forfeited/canceled	(442)
Nonvested Balance at March 31, 2017	6,640
Nonvested beginning balance, Weighted Average Grant Date Fair Value | $ / shares	$ 45.67
Weighted Average Grant Date Fair Value of shares granted | $ / shares	34.13
Weighted Average Grant Date Fair Value of shares vested | $ / shares	49.50
Weighted Average Grant Date Fair Value of shares forfeited/canceled | $ / shares	43.71
Nonvested ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 38.94
Time-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2016	2,369
Granted	2,706
Vested	(36)
Forfeited/canceled	(165)
Nonvested Balance at March 31, 2017	4,874
Performance-Based Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested balance at October 1, 2016	1,288
Granted	1,110
Vested	(355)
Forfeited/canceled	(277)
Nonvested Balance at March 31, 2017	1,766

Other Income (Expenses) - Narra

Other Income (Expenses) - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Other Income and Expenses [Abstract]
Proceeds from the sale of available-for-sale securities	$ 17.2	$ 119.4	$ 25.8	$ 226
Net gains recognized on trading investment securities	1.2	15.9	1.4	10.2
Net gains recognized on trading investment securities of consolidated SIPs	$ 27	$ 1.5	$ 8.4	$ 1.9

Other Income (Expenses) - Sched

Other Income (Expenses) - Schedule of Other Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Other Income and Expenses [Abstract]
Dividend income	$ 2.7	$ 6.4	$ 5.1	$ 9.2
Interest income	16	7.1	29.6	10.7
Gains on trading investment securities, net	8.4	21.7	10.4	14.4
Realized gains on sale of investment securities, available-for-sale	2.3	19.5	2.9	27.3
Realized losses on sale of investment securities, available-for-sale	(0.5)	(1)	(1.2)	(1.8)
Income (losses) from investments in equity method investees	36.3	(16.6)	70.5	8.2
Other-than-temporary impairment of investments	0	(4.4)	(0.3)	(4.8)
Gains (losses) on investments of consolidated SIPs, net	22.7	(6.4)	(7.2)	(12.1)
Foreign currency exchange gains (losses), net	(6.2)	(13.2)	13.6	(9.7)
Other, net	2.9	4.3	7.3	6.5
Total	84.6	17.4	130.7	47.9
Interest Expense	(12.6)	(12.2)	(25.9)	(24.2)
Other income, net	$ 72	$ 5.2	$ 104.8	$ 23.7

Accumulated Other Comprehensi62

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Oct. 01, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ (417.8)	$ (343.1)	$ (347.4)	$ (314.2)
Other comprehensive income (loss) before reclassifications, net of tax	45.8	33.4	(17.7)	11.2
Reclassifications to net investment and other income, net of tax	(1.2)	(8.1)	(1)	(14.8)
Total other comprehensive income (loss)	44.6	25.3	(18.7)	(3.6)
Balance at end of period	(373.2)	(317.8)	(373.2)	(317.8)
Unrealized Gains (Losses) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(2.4)	13.4	6.8	19.3
Other comprehensive income (loss) before reclassifications, net of tax	6.6	1.7	4	2.5
Reclassifications to net investment and other income, net of tax	(1.2)	(8.1)	(1)	(14.8)
Total other comprehensive income (loss)	5.4	(6.4)	3	(12.3)
Balance at end of period	3	7	3	7
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(407.3)	(351.4)	(346.1)	(327.8)
Other comprehensive income (loss) before reclassifications, net of tax	39.2	31.7	(21.7)	8.1
Reclassifications to net investment and other income, net of tax	0	0	0	0
Total other comprehensive income (loss)	39.2	31.7	(21.7)	8.1
Balance at end of period	(368.1)	(319.7)	(368.1)	(319.7)
Unrealized Losses on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(8.1)	(5.1)	(8.1)	(5.7)
Other comprehensive income (loss) before reclassifications, net of tax	0	0	0	0.6
Reclassifications to net investment and other income, net of tax	0	0	0	0
Total other comprehensive income (loss)	0	0	0	0.6
Balance at end of period	$ (8.1)	$ (5.1)	$ (8.1)	$ (5.1)
ASU 2015-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance					$ (325.9)
ASU 2015-02 [Member] | Unrealized Gains (Losses) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance					(6.8)
ASU 2015-02 [Member] | Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance					(0.3)
ASU 2015-02 [Member] | Unrealized Losses on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance					0
ASU 2015-02 [Member] | Other equity [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Adoption of new accounting guidance					$ (7.1)